Hos much have people lost on Crypto?

likehelpful
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I’m making a lot right now on crypto… working their bankruptcy cases 😂

funnylike

$0. Not putting money in that scam.

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Exclusively wasted time reading and thinking about it.

likefunny

Started with 10k way back (2014ish) , cashed out a few hundred k and bought a house in cash, let the rest ride. On paper I've "lost" a few hundred k in the last months, with about 200k still in

likesmart

$0, not a fan due to ESG concerns and cross-border funding implications.

likefunny

None. I've stayed out because, until recently, I haven't understood it as an asset class.

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Crypto and blockchain as a technology has some interesting use cases.

Crypto in the sense of the current crop of tokens are entirely valueless. There are zero legal use cases for crypto that aren’t adequately addressed by existing financial machinery and fiat currency, and every crypto use case implicitly relies on the existence of a government authority that can guarantee property rights.

likehelpful

So well said. Amazing how many people didn’t do reasonable DD on this stuff. You can play the greater fool game and maybe even make money on it, but don’t have the illusion this is not 99% junk.

$0 - whilst a few people got lucky on the way up, it was always a huge gamble and as we’ve seen in the last week a completely speculative bubble that’s likely to pop.

likesmart

I mean...paper loss of $600K since the ATH, but still up $400K (BTC + ETH).

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Zero and enjoying the implosion. Nowhere near enough people have gone to jail over this BS

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Crypto is a Ponzi scheme

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I can’t follow how it would be, there is no fraud and it isn’t based on biking the next guy down

Went from about 50K to 1.2M and cashed out. Easy money.

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Cool story Hansel

likefunny

I was always with Larry David. He was skeptical and so was I

funny

A put in about $10k, it went up to about $25k, and is now about $6k. I plan on just letting it ride, and ignoring it for 5 years.

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Zero. If I want to gamble I’ll just go to Vegas. Those that are trying to convince others it’s a viable asset class are just trying to push up the price of something that doesn’t have any underlying value, imo.

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I put 35K and it's now 7K . I haven't sold it - so no loss taken yet . Probably will sell and offset tax

Got out with a modest gain early in the year and glad I did

Doubled my money in a week a number of years ago. Never bought back in.

I put about $80k in and have $40k left. It’s well within the daily swings of my stock portfolio so I don’t worry too much bout it.

Put in $4k just to dabble and see. Peaked at $13k pretty quickly. Now at $4.7k. Figure just leave it and see.

I had more volatility during dot com circa 2000.

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