Lesson learned my friend

[chris.m88]

Here are the facts:

1. Had the opportunity to buy a DSSD.
2. Thought I’d be clever and trade crypto instead, and then be able to buy a DSSD for everybody on the block.
3. Portfolio up 125% after two weeks of trading.
4. Decided to keep going.
5. Today at a loss of 50%.
6. Cry myself to sleep tonight.

Lesson: just buy the damn watch next time.


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[2Redbulls]

sorry to hear that. Just use it as a lesson in trading and life. Life's too short to beat yourself up for too long or dwell on failures. Learn from it and move on...

[Jcy90]

Tommorrow will be back up again.

[Spartan1]

....or hacked into and stolen!

[Chewbacca]

but aren't you still well ahead and... tax free since its crispo currently?

[Danny83]

Quit while ahead ..

[masterdinh]

It’s all good Chris. Stick with it. Plenty of opportunities to buy watches.


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[AJM914]

Iv been watching this whole bitcoin hype....wonder if now is a good time to buy?

[Rp930]

A pig gets fat and a hog gets slaughtered.

[RolexNorth]

Good luck trying to sell that bitcoin stuff. I hear it isn't that easy. Fees to redeem can cost you 25% of whatever it's trading at when it does get liquidated. Most of the crypto-websites won't let you fully redeem, while other's only allow for partial redemptions, some of which can take as long as 4 weeks, and worse, if they determine your or other's redemptions could be detrimental to the survival of the crypto currency they won't let you redeem at all!!!!!

This is the definition of a ponzi scheme and worse, this one with crypto currencies is so blatant and in your face.

My rules for investment is, if I can't redeem it on demand, I'm not interested.

[Investr]

Originally Posted by danny83

quit while ahead ..

listen to this.....

[Clay]

Well I don’t know anything what so ever about the other stuff you mentioned... But I do know the DeepSea is a GREAT watch!

[abozz]

I like clear business, not speculative, maybe I miss the opportunity to earn money but surely I will not be scammed so easily. The cryptocurrencies is a scam, is my opinion, something that does NOT produce anything is just a numerical falsehood.

[THC]

Stay in.. if anything, buy some more while the correction is going on....

[beshannon]

Originally Posted by chris.m88

Thought I’d be clever and trade crypto instead

The real money you threw away was money you had to lose right?

[brandrea]

Sorry to hear this. Yes next time buy the watch, at least it’ll make you smile.

[yoast]

Just a dip, so good time to increase your position.
And it is never wise to invest money you can't miss....

[bmrisko]

Crypto reminds me of tulips...

[soxfan39]

Originally Posted by RolexNorth

Good luck trying to sell that bitcoin stuff. I hear it isn't that easy. Fees to redeem can cost you 25% of whatever it's trading at when it does get liquidated. Most of the crypto-websites won't let you fully redeem, while other's only allow for partial redemptions, some of which can take as long as 4 weeks, and worse, if they determine your or other's redemptions could be detrimental to the survival of the crypto currency they won't let you redeem at all!!!!!

This is the definition of a ponzi scheme and worse, this one with crypto currencies is so blatant and in your face.

My rules for investment is, if I can't redeem it on demand, I'm not interested.

There is not one bit of truth to this statement.

[superdog]

I did something a little different.

I bought high. It tanked. Then it came back. The minute I was in the black I decided to sell it off as I finally caved and decided on a BLNR. So I got my money out plus a few bucks. And then it tanked again even worse. Actually thinking about buying some more now.

I justified it as I felt the BLNR would actually be a more sound investment and one that I could enjoy.

My advice to you, hold onto whatever you have.

I genuinely believe it will come back.

And btw, I had zero problems selling mine. I pushed a button and got in back in my bank account the next day.

[gummy]

I know exactly what would cheer you up...

Go buy a DSSD!

[LuminousMaximus]

I'm trying to find the words...:

[Raypep]

It's hasn't been a pleasant last few days in the crypto world. I'm defitley at a loss right now. Thankfully not much.

-R

[JR16]

Originally Posted by superdog

I did something a little different.

I bought high. It tanked. Then it came back. The minute I was in the black I decided to sell it off as I finally caved and decided on a BLNR. So I got my money out plus a few bucks. And then it tanked again even worse. Actually thinking about buying some more now.

I justified it as I felt the BLNR would actually be a more sound investment and one that I could enjoy.

My advice to you, hold onto whatever you have.

I genuinely believe it will come back.

And btw, I had zero problems selling mine. I pushed a button and got in back in my bank account the next day.

I would agree with this. Cried (well not really) this morning when I calculated how much I’m down but will just keep it in and eventually it will rebound. Using coinbase it’s no prob cashing out, though there were issues overnight w exchanges on GDAX so watch out (for example, sell limit not going through).


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[amh]

Originally Posted by RolexNorth

Good luck trying to sell that bitcoin stuff. I hear it isn't that easy. Fees to redeem can cost you 25% of whatever it's trading at when it does get liquidated. Most of the crypto-websites won't let you fully redeem, while other's only allow for partial redemptions, some of which can take as long as 4 weeks, and worse, if they determine your or other's redemptions could be detrimental to the survival of the crypto currency they won't let you redeem at all!!!!!

This is the definition of a ponzi scheme and worse, this one with crypto currencies is so blatant and in your face.

My rules for investment is, if I can't redeem it on demand, I'm not interested.

Exactly.

The few people I've talked to say "don't be in it for the money, you have to understand the technology." Sure. I got cold feet upon finding out I must send my money to some kind of exchange, buy BTC, then buy alt coins. There are fees at every transaction, taxes to consider.

I'll stick to stocks, my 401k is up 20% over last year.

[HOHO]

Roughly 20 years ago I put my entire RRSP into Breasy (holding company for BreX).
Planned on using my RRSP as a down payment on my first home.
Bought at $4 7/8, it was trading at $14 5/8 (iirc) when my mortgage broker called and said liquidate as you'll need to be all cash in 3 days.

Sold the stock.

Next day, geologist gets pushed from helicopter, stock halted goes to ZERO.

#dodgedabullet

I'll never play that game again.

[4srolex]

Really? Try Coinbase and GDAX for liquidity and lower fees otherwise this is FUD

Originally Posted by RolexNorth

Good luck trying to sell that bitcoin stuff. I hear it isn't that easy. Fees to redeem can cost you 25% of whatever it's trading at when it does get liquidated. Most of the crypto-websites won't let you fully redeem, while other's only allow for partial redemptions, some of which can take as long as 4 weeks, and worse, if they determine your or other's redemptions could be detrimental to the survival of the crypto currency they won't let you redeem at all!!!!!

This is the definition of a ponzi scheme and worse, this one with crypto currencies is so blatant and in your face.

My rules for investment is, if I can't redeem it on demand, I'm not interested.

[Magwitch]

Fear and greed will be the death of you.

[superdog]

Originally Posted by HOHO

Roughly 20 years ago I put my entire RRSP into Breasy (holding company for BreX).
Planned on using my RRSP as a down payment on my first home.
Bought at $4 7/8, it was trading at $14 5/8 (iirc) when my mortgage broker called and said liquidate as you'll need to be all cash in 3 days.

Sold the stock.

Next day, geologist gets pushed from helicopter, stock halted goes to ZERO.

#dodgedabullet

I'll never play that game again.

OMG. That is incredible. Terrible story. But glad you got lucky!!!

[tng11]

Originally Posted by brandrea

Sorry to hear this. Yes next time buy the watch, at least it’ll make you smile.

Agreed. Used to day trade and the ups/downs made me cry all the time. Sold off my entire watch collection to fund that venture. Decided to stop day trading and use that "play money" back on watches. Best decision I ever made.