Semi OT: Anyone lose money in the crypto crash?

[raptor jesus]

Crypto has "died" innumerable times in the past 10 years or so - Mt. Gox, China ban, etc. It has peaks and valleys, driven by big events, like any other market, but ultiimately it has been resilient. It's not for the faint of heart, but if you only invest what you're willing to see go way down, and keep it off exchanges - i.e. store it yourself - you'll be fine.

[tradejosehesux]

I had like $2000 tied up in Shib and Safemoon. Holding till its all gone lol

[hype_2004]

I had the choice of investing 200000 in crypto 5 years ago or buy a farm in the Phi

[GreatWhiteStiff]

My brother is big into crypto but put a lot into "stable coins", so his investment is kind of ok. He's a lurker here and tWo member.

tWo member investing in tanking currencies. Gotta respect the consistency.

Haha, I love it, especially because he still has a bunch in tanking cryptocurrency.

[hype_2004]

I had the choice of investing 200000 in crypto 5 years ago or buy a farm in the Philippines through my wife who is a Filipina citizen. I bought the farm now have livestocks and crops on a 10 acre land, best investment I ever made.

[mrdressup]

As bad as it has been it's not going to be as bad as it's going to get for people who dumped large sums in sport cards. A young fool and his money are soon parted. I am always on the lookout for the next thing I might have that I can sell to a fool, and so should you. "Investing" is about someone buying something and trying their luck at the game of selling to a bigger fool. The stock market is a different animal. It's priced higher by the sale of our financialized paper to foreigners in such a way that the proceeds of our importing of goods complete a cycle of money back to us that, as long as it lasts, guarantees that stocks will go up as we grow in debt.

[KL78192020]

OTPP wrote off the ~$100 mill they had in FTX

It was part of their venture fun, thats nothing for them. They're worth $250 billion.

[mrdressup]

Crypto has "died" innumerable times in the past 10 years or so - Mt. Gox, China ban, etc. It has peaks and valleys, driven by big events, like any other market, but ultiimately it has been resilient. It's not for the faint of heart, but if you only invest what you're willing to see go way down, and keep it off exchanges - i.e. store it yourself - you'll be fine.

You' re not of the Nortel Networks generation, are you? A single offering of anything has no guarantee to bounce back to any previous level. Saying this as the nephew of someone who lost 6 million on exactly that false narrative. You can easily be left holding nothing but the letter that says the entire thing is no more. Perceptions of value are strange things. They can exist for no reason and then vanish in a way that surprises people. This seems to suggest that mimetic programming is strong in the world.

[KL78192020]

The one benefit of being old but not too old is hitting that sweet spot of extreme cynicism and believing everything is a scam.

lol for the past 5 years I've heard nothing but younger people telling me to get into crypto, and no one gives a good reason as to why other than you'll double triple your money!

Some said it can be used as currency to easily send money around the world without trace (perfect for criminals), well when your currency loses 70% of its value in a year, I'd rather pay higher fees and use USD.

[kieferli]

I never invested anything I don’t understand, I am old school investor only invested in Real estate and long-term investment.

[Brinbe]

lol @ anyone who bought into that scam

[Ado05]

I cashed out when ethereum was over 3000 cause I needed the money. First got in when it was 150 dollars. Got lucky I guess.

[TheBoi10]

OTPP wrote off the ~$100 mill they had in FTX

It was part of their venture fun, thats nothing for them. They're worth $250 billion.

They ain't hurting for sure, was just tryna tie it in to Toronto/Ontario. A large portion of quarter trillion is PE and those valuations are always flimsy when there's no true mark to market. They're not gonna voluntarily mark down their holdings

[links135]

The one benefit of being old but not too old is hitting that sweet spot of extreme cynicism and believing everything is a scam.

lol for the past 5 years I've heard nothing but younger people telling me to get into crypto, and no one gives a good reason as to why other than you'll double triple your money!

Some said it can be used as currency to easily send money around the world without trace (perfect for criminals), well when you currency loses 70% of its value in a year, I'd rather pay higher fees and use USD.

Well if you invested in bitcoin 5 years ago, I think you'd be down 7% right now.

If you invested in the S&P500, you'd be up 44%.

Sure you can make a buck quickly in crypto, or lose it quickly, but it's so unstable in that way Valve can't even take cryptocurrency as payment because they're never sure if the payment received is the right amount.

That's why I invest in securities with hookers and blackjack, in fact, forget the securities.

[C Court]

Tom Brady with the CEO of FTX.

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[WaltFrazier]

No. I don't understand it so wouldn't put money in it ever. Apparently my pension plan did though.

Actually I should check my personal mutual funds and such, I don't think they have any crypto.

[B-Ball Freak]

My brother is big into crypto but put a lot into "stable coins", so his investment is kind of ok. He's a lurker here and tWo member.

tWo member investing in tanking currencies. Gotta respect the consistency.

[shefcurry]

Crypto was a release valve for excess liquidity. It's not likely ever coming back to where it was, as the next time there is excess liquidity in the markets, it will be 10-15 years away and there will be some other fad (i.e. metaverse property or some other useless asset).

[Ackshun]

Not gonna lie... I had near 0 faith in the crypto world lasting. Felt like just a fad to me. Hope no one lost too much here.

Yeah far too speculative for me. And…uninsured I think ?

Riskiest for me is probably angel funds

[Ackshun]

I never invested anything I don’t understand, I am old school investor only invested in Real estate and long-term investment.

Same as you but it’s hard not get into the short positions nowadays. So much predictable volatility