Every time i invest the little leftover money i have into crypto i always fucking lose that fucking money

have you considered that "investing in crypto" is a dumb idea? your money would be better spent on a wishing well.

also: "investing" in crypto is what killed crypto.

in an ideal world, crypto would've been a currency. that's where its only value came from. but now, basically nobody uses it as currency, and everybody uses it as object of speculation.

the pure act of "everybody investing" took any and all value from crypto, which resulted in the fact that everbyody is investing in something that is now completely worthless.

cryptobros killed crypto.

I lost my wallet and then decided it's not for me. I invested € 500,-. I guess I like banks

@tosensei that's not true, if you look at bitcoin graph over the years, it's only raising!

@retoor you ever heard what a bubble is? or the "greater fool theory"?

bitcoin lost all value as currency due to speculation (way too much fluctiation), so the only way to make money off it is to buy, and hope you can sell it to someone even dumber in the future.

up to the point where there's nobody dumber left, and the bubble bursts.

The people in my environment that do crypto are not the smartest tbh. I think they'll lose all eventually

@tosensei with 300$ or less leftover money each month that i have, i have no other investing option to choose from other than crypto

@b2plane dude, you can invest in _anything_. stocks. precious metals (silver for example is at 22$ per troy ounce, you could just buy it at stack it in your bookshelf). hell, you could put your money in a sock and it'd be a smarter invest than crypto.

hell you could invest it into regular doctor visits to get your distended colon in order before it bursts.

You know what the definition of insanity is?

Here is an idea: Don‘t invest into crypto anymore.

if you like money don’t spend it

@Lensflare how am i supposed to escape poverty if i dont invest?

@b2plane you don't. if you had enough money to invest it for enough return to escape poverty, you wouldn't be poor.

@b2plane investing in crypto is in many regards similar to investing in lottery tickets, you gamble.

@Voxera same can be said for stocks

@b2plane with one fundamental difference: when you own shares of a company, you _get a divident_.

you gain a slow, but steady return by simply _owning_ it. whereas with crypto, the _only_ way to make money of it is selling it.

@b2plane I can‘t tell you what to do to escape poverty. I can only tell you what not to do.

@tosensei you can stake crypto and passively earn that way it's the same as dividend

You are joking right? You don’t seriously put money in crypto right? You cannot be that dumb.

@b2plane > "you can stake crypto and passively earn that way it's the same as dividend"

Not sure who is giving you that advice, but that's chasing pennies and leaving dollars on the table.

I know because my son and his buddies all have crypto stuff in/using Robin Hood and brag about 1% here, 2% there, etc. Couple of years ago, one of them 'hit the jackpot' by getting a $53,000 gain (not sure of the exact terminology). I asked "How long did he have that money invested and how much did he lose over time?". Turned out he'd had that money in the pool for several years (kept putting in additional money all that time) and had big loses. He couldn't find out the exact $$, but it sounded like his friend likely broke even.

I said, if he had invested that value (I'm guessing around $20,000) in a growth stock mutual fund and compounding at 10%/12% (with additional investing over that time), likely he would have had over $50,000.

@PaperTrail ? "likely he would have had over $50,000."

... over 7 to 10 years.

Real investment is boring. It's a 'set and forget' process by letting the money+time do the work.

Nothing wrong with playing around with the stock market and speculating on crypto (or any single stocks), just as long as the expectations are real and you're not gambling $$ with your future.

soo... how again did you _lose_ your money with crypto?

@tosensei sold at a loss

@tosensei depends. I have some lose money (Small amount, less than 1000$) in crypto for fun. Amount i'm comfortable to lose 100%.

Just checked, my crupto account is +38% all time and +8% pas 12 months.

I guess when you go in mode fun it works well.

@b2plane if you're selling at a loss you don't have the disposition for investing

the way investing works is you do due diligence on your options and creepily stalk the hell out of them, calculate probabilities of global events, economic trends, and popular culture, then slowly put money into your bets until you get to find out if your calculations were wrong or right

it helps if you're more excited about getting better than care about the money. most people should not touch investments because it is rare to have a stable enough disposition

@jestdotty > "it helps if you're more excited about getting better than care about the money"

That's the heart of the investment podcasts I listen to. The natural side-affect of getting better is, of course, making more money. I suppose it happens the other way around sometimes (making money gets one excited to learn more), but my guess the majority of investment advice on tick-tack is the 21st century equivalent of a 'snake oil' sales pitch.

For example, the infinite banking scam of putting a bunch of your money in a whole life insurance policy and borrowing money against it (no fees, interest, or tax implications) as the policy matures. youtube/tick-tack/blogs are full of advice which I suspect are 99% sponsored by life insurance companies.

@jestdotty bro i bought sol at 117.89 all time fucking high last week. Ive been almost 2 weeks now and im still holding this shit cant even get back to Fuckinf 117$ even at this btc pump. Fjfkimg whack. I sold 9$ at a loss so i can buy pepe at 350 and then sold pepe at 328 for a 7$ loss. Started with 450$ with a -10$ fee so 440 usdt and now im in -7$ and -9$ loss

Rule #1 of investing: Don't invest money you can't afford to lose.

If the loss bothers you, then you probably shouldn't have invested in the first place..

Also I don't know what you're talking about... you're supposed to buy crypto and hold it for long periods of time. Buy a bunch of ETH and check on it 5 years later. ETH has decent potential and it's still cheap enough to buy reasonable amounts of it... A lot of stuff is dependent on it due to it's smart contracts and other stuff... Or buy BTC and wait for the next 15 years and it might become pretty valuable once it actually hits the cap... or not.. who knows... rule #1, remember?

@jestdotty "you can literally invest your way out of poverty" then please write a guide for how to do it. and keep a distinction between "investing" and "gambling at the stock market", because you can always _gamble_ yourself out of every situation if you're lucky enough.

also: "crypto is a currency" - yes. technically.

but because it's been speculated with so flipping much, it is a worthless currency. basically nobody uses crypto to pay anything, except for the few who still believe the fable of anonymity and use it to buy illegal stuff.

be honest: do _you_ know anyone who ever used crypto as actual currency?

as a currency, crypto has become utterly worthless. its complete worth as a speculation asset rides on the belief of people that somewhere, someone will be dumb enough to buy it at a higher price.

@b2plane "sold at a loss" - well, that's a dumb move on your part, wouldn't you agree?

@b2plane > "Started with .<etc..etc, and>.. loss"

That's one reason I don't play the game, much like Apex Legends, I would suck.

If you enjoy the game, good, have fun, don't let a bunch of us knuckleheads on the internet ruin your day. I don't berate my son for his single stock investments. He knows my opinion and doesn't care. He's got the 'play' cash, having fun with his friends, and doesn't lose a minute of sleep when his Tesla stock dropped.

@b2plane Thats the biggest problem with any “investment “ unless you can afford to wait for profit it is just gambling.

In that case its the same with stocks, you never invest money you cannot afford to loose.

And the difference between crypto and stocks is that companies have products and report a lot, if you spend time going through that you can make a very good guess if the company is solid and will grow or not.

The closest thing in stocks to crypto is blanking where you sell or buy stock now for later delivery and hope that by the time the transaction goes through the real price will have changed in your advantage. But that is also a good way to quickly loose money.

@jestdotty okay, you you're the _first_ person i've met _ever_ that uses crypto to actually buy stuff.

and i thought you people were just a legend, like unicorns