Any Real life Crypto Currency disaster stories?

Discussion in 'Blockchain & Cryptocurrency Mining' started by ipv6ready, Dec 31, 2017.

  1. Gunna

    Gunna Member

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    Sure it is, it just carries a higher risk than some are willing to take.
     
  2. sTeeLzor

    sTeeLzor Member

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    It's not investing when there is zero inherent value. It's just gambling.
     
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  3. Gunna

    Gunna Member

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    So just like futures trading?
     
  4. shredder

    shredder Member

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    So, no different than a prediction based on fomo craze rising up and growing again, then. A simple observation of sentiment dynamics that anybody could make.
    It's an understandable viewpoint. But if fundamentals exist in the form of a rapidly growing industry thrusting ever-increasing amounts of funding into the space, then you have observable metrics beyond the simple sphere of chance.

    Knowledge, as always, is the separator. When you've got none, speculation may indeed become gambling.
     
    Last edited: Jun 20, 2019
  5. koss

    koss Member

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    It has huge value, you obviously know nothing about it.
    Bitcoin gets you access to a multi billions dollar high tech distributed network that has no borders.

     
    Last edited: Jun 20, 2019
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  6. mr camouflage

    mr camouflage Member

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    Did the same back when BFL were making hardware. Spent 7BTC on 3 jalapenos (I think about ~$900 at the time) that took forever to arrive, and by the time they did the difficulty was so high there was no chance they would ever mine enough BTC to cover the cost. Sold 2 of them when they became unprofitable to mine with and kept one as a memento.
     
  7. miicah

    miicah Member

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    Oh man, the bitcointalk(?) forums around that time were full of people waiting for their hardware. It was hilarious and sad at the same time, as they trickled out 3 or 4 units a week to make people believe they were going to get one. All the while they were just using them to mine in their HQ.
     
  8. koss

    koss Member

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    Bitmain is almost as bad, they start taking orders a couple of months before the units ship, and the number of units in the batch is so high you can't get ROI because the shipment bumps up the difficulty of the entire network.
     
  9. josh_676

    josh_676 Member

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    How good is bitcoin - my horror story was selling 3 btc @ 6000 usd earlier this year. Still holding a decent chunk, but hey the money went to worthwhile things.
     
  10. Gunna

    Gunna Member

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    Hookers and blow?
     
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  11. josh_676

    josh_676 Member

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    And the rest of it I wasted.
     
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