Quote from: SFMHodler on February 19, 2024, 06:43:11 PM

I lost more money on crypto than I made. I considered it a lottery, maybe i hit the right coin sometime, but most likely I will end in the red.

Leaving the discussion a little because it is important to always clarify people when they talk about losses in cryptocurrency investments. well, if you look at the price of bitcoin in the past it managed to reach $69,000 and then it fell a lot, but before reaching that $69,000 the price started from low, something like $1, $2... until it reached that $69,000 . which means that everything depended on you having done research before buying so that you knew that bitcoin was a better investment compared to alticoins, just look at the following, a few years ago the price of litcoin reached more than 300$ when the price of bitcoin was of more than $50,000, both currencies fell a lot after reaching their ATH, but there was a big difference, which was that the price of bitcoin went from $3000 to $69,000 and never went back to $3,000, it only fell to $15,000.

while the price of litcoin went from 50$ to 300$ and back to 50$ and today the price of litcoin is at 70$ while the price of bitcoin is at 52000$, the reason for this is simple: litecoin does not have nothing useful that attracts people, this is because despite being a currency with low rates compared to bitcoin, it has an owner while bitcoin does not. all altcoins will only have temporary success. so don't invest in altcoins, only invest in bitcoin

Regarding the length of the thread, I always keep saying that anyone can only make a profit at the casino when they stop playing while they have won more money than they have lost since they started playing. For example, if a person has been gambling for 10 years, lost 2 million dollars, but won 5 million dollars and that person stopped gambling, then that person had 3 million dollars in profits. Now, if that person continued playing even if they said they were playing for fun, then that person cannot consider themselves to be making a profit. because he will lose everything as long as he keeps playing