Did you lose big on crypto?
Between coins cratering and exchange blowups, crypto investors have taken a beating. How's your portfolio looking these days? #blockchain #bitcoin #crypto
Over the last 11 years my Bitcoin portfolio has returned 121% on average annually.
Annually or over 11 years?
Added
Where is the option for 5-10x profits.
How much do you have invested in btc/eth atm? I have $80k in and am still DCAing monthly
Well I moved my ETH to LTC for long term. I don’t care how low it’ll go before moving up. I see LTC and XRP to have major breakout in the next cycle. Risky but I want to take it as I see more upside in these. Majority is still in BTC!
I dollar cost averaged from 2016 to 2020 without selling anything and spent 20-25k total. I am risk averse compared to most people that invest in crypto so my returns are lower, but usually more consistent. At some point in 2021 I added ~50k in stable coins to use for defi. From the end of 2020 until april 2022 I started cashing out monthly in ranges from 3k-40k to pay off debt, living expenses, travel expenses and to buy lots of expensive toys. In 2021 I fucked up and leveraged bought eth at around 4k and came very close to a >200k position turning to 0. I had to add ~33k collateral to the position when it was down to 20k to prevent further liquidation. When I closed that position I cashed out about 100k. That 33k that I added was profit share from a crypto project I helped build so I viewed it the same. So the nonrecoverable mistakes I made were sending ~5k of my portfolio to scam ICOs, lost 50k of eth trading NFTs, and ~150k due to a bad leveraged trade. In total, I put in 70-75k and got out what I put in plus an additional amount >200k and still have ~10k of crypto left. If I hadnt given into NFT fomo Id have an additional 80k worth of crypto at todays prices.
Got in 2017 right before the hype when bitcoin was around $750. Bought in big, haven’t sold and it’s changed my life. 99.99% of crypto are scams though and I fully understand why normies disregard crypto.
Omg how much did you get? How did you sell? How are you avoiding taxes? Please educate me. DM if you dont wanna publicly share
Same story
Down from the peak or down overall? I’m probably in the positive but way below the peak still
Made a ton from buying BTC and ETH in 2017/18 with a cost basis under 10k. Got greedy and started yield farming in high APY liquidity pools and suffered a lot of impermanent loss. Lost a ton during Terra/LUNA collapse.
Where's the poll option for "up over 1000%"? I dumped my position on normies a couple summers ago of course. That's what the not-so-much advertised American dream really is: dumping your bags on cattle. Whether it's boomer real estate, pre-IPO stock, or coins...'if you're not dumping you're not living'™. Thanks for the house lmao
Watchu do for taxes though 👀 Were you able to avoid?
I paid up to our degenerate, pedophile gov't A lot of my tokens were in long terms gains, as I accumulated 2018-19. I sent about $100k to the gov't that year though I am jealous of the international community that pays 0% though.
20k -> 5M -> 300k
Exactly lol
15x is nice.
Been buying and holding bitcoin in self custody for 6.5 years. Deeply deeply positive territory. This isn’t complicated. Buy bitcoin,self custody, and ignore shitcoins. Do these things and you’ll win.
What does "self custody" matter? It's not like it makes your BTC more value than the BTC sitting in an exchange.
Well you can avoid the awkward situation where the exchange turns out to be a giant scam and your coins were actually used to fund a series of other scams.
Ive been DCAing since the highs and Ive been positive for a while now