Semi OT: Anyone lose money in the crypto crash?

[WaltFrazier]

Spoiler:

Not a good year for Tom Brady

Should have stayed with Giselle who is richer than he is

Are you sure about that?

Got me there. I was going on memory of older reports of her supermodel and endorsement income

[PD28]

Read on Twitter

Never got into Crypto but did warn some friends who have gone dark since the crash lol

[ropjhk]

Lost a little bit but not much. Never invested heavily into crypto. My mindset was that if crypto was really going to become the future of money then I wouldn't need to invest too much today to ensure a decent position in the future. If crypto was not going to become the future of money then I don't want to lose too much on this bet.

[wegotthabeet]

As many of you know, the crypto industry just had the worst moment in its history, with FTX (the equivalent of RBC in Canadian banking) going bankrupt.

Our beloved Kyle Lowry is an ambassador for Bitbuy (unaffected by these events), and many of the people here probably have savings on crypto platforms.

This is like the equivalent of the 2008 crash for many people. I know some Raps fans that lost a very large chunk of their net worth.

Are you guys doing okay?

meh.

2011, 2014/15, 2018/19 were worse. this is just a few poorly run over leveraged exchanges/trading/lending platforms going under, which is a good thing. nothing new. same **** as always.

[ropjhk]

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.

Even after the crash you'd still be up over 100% if you invested in bitcoin. At the peak of the hype train your investment would have made you a millionaire.

Not saying you made a mistake. 200000 is a lot to invest in any single sector and a lot to risk on something as volatile as crypto. You probably made a wise choice.

[DatHomieYouHaTe]

I've never touched crypto, but in 2019 I put $300K into real estate and cashed in this year for over $500K. Even without the unintended magnifying effects of COVID, real estate is generally a good investment.

Anything can crash even real estate. Nothing is really a good investment it's all luck like a damn casino.

[DatHomieYouHaTe]

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.

If you sold all the crypto you bought during COVID-19 you'd be a multi millionaire easy lol.. could have bought many farms.. can't come in here saying something like this and not get roasted..

[NinjaBro]

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.

tWo 4 life

[Childs]

Nope, I was kind of sketched out by it, and I guess being cautious/skeptical has its advantages. I'm still one of those mid 30s year old who still uses cash to pay sometimes. Does raise some eyebrows and questions. Although I did get some payback chuckles when Rogers shut down.

[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.

tWo 4 life

[GreatWhiteStiff]

Nope, I was kind of sketched out by it, and I guess being cautious/skeptical has its advantages. I'm still one of those mid 30s year old who still uses cash to pay sometimes. Does raise some eyebrows and questions. Although I did get some payback chuckles when Rogers shut down.

I always use cash but I'm older than you. I remember that too, everyone was forced to use money!

[Duffman100]

Meh, I have a house, kid, mortgage. I don't love the idea of taking the risk on Crypto.

[Parataxis]

I've never touched crypto, but in 2019 I put $300K into real estate and cashed in this year for over $500K. Even without the unintended magnifying effects of COVID, real estate is generally a good investment.

Anything can crash even real estate. Nothing is really a good investment it's all luck like a damn casino.

I'm just waiting for that real estate crash. Fingers crossed.

[Duffman100]

I've never touched crypto, but in 2019 I put $300K into real estate and cashed in this year for over $500K. Even without the unintended magnifying effects of COVID, real estate is generally a good investment.

Anything can crash even real estate. Nothing is really a good investment it's all luck like a damn casino.

I'm just waiting for that real estate crash. Fingers crossed.

I'm currently super paranoid about rising interest rates and just throwing as much money at my stupidly high mortgage as I possibly can.

Being an adult ssssssuuuuuccckkkss.

[wegotthabeet]

Nope, I was kind of sketched out by it, and I guess being cautious/skeptical has its advantages. I'm still one of those mid 30s year old who still uses cash to pay sometimes. Does raise some eyebrows and questions. Although I did get some payback chuckles when Rogers shut down.

I always use cash but I'm older than you. I remember that too, everyone was forced to use money!

cash is still by far the most often used/accepted medium of exchange in Germany. even more so since the Ukraine/Russian war.

[DelAbbot]

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.

tWo 4 life

[Parataxis]

Anything can crash even real estate. Nothing is really a good investment it's all luck like a damn casino.

I'm just waiting for that real estate crash. Fingers crossed.

I'm currently super paranoid about rising interest rates and just throwing as much money at my stupidly high mortgage as I possibly can.

Being an adult ssssssuuuuuccckkkss.

Yeep. I'm lucky that I used to live out of town, so my mortgage is roughly the size of a really nice car loan. Just waiting to turn that house into a downpayment for somewhere in Toronto. lolsobcry.

[lolwut]

The CEO of FTX is named...Bankman-Fried?

[KL78192020]

I guess this is the millennial version of the Lehman Brothers and Bears Sterns crash for the kids. Although still nowhere near as bad as the 2008 financial crisis. The entire crypto market combined is worthless than Amazon alone.

[dagger]

I suspect that most people who are losing on crypto are not staking all of their worldly goods to it. I'm in the way too old to go down that rabbit hole crowd. Not going to gamble pension money. My step-son-in-law sat me and my wife down a year ago and tried to explain crypto to me, and I confess I still didn't understand the underpinning of it after he finished. Over the years, I've learned the hard way not to make certain investments: Don't put money in things I don't understand, and don't put money in things I think I understand really well. (Being too close to a thing can make one cocky, unless I have insider info which I shouldn't have anyway.)