Dieser Redditor verlor alle Ersparnisse seines Lebens, 6 Jahre DCA wurden ausgelöscht, nachdem Kaskaden-Liquidationen Spieler mit hohem Verschuldungsgrad ausgelöscht hatten.

brought to you by chat gpt

…. gabe?

I feel bad for people who get scammed and lose their crypto. People who are careful aren’t likely to get scammed, but crypto won’t be mainstream without measures to protect average people (i.e. not crypto nerds) from getting scammed.

I don’t feel bad when someone gets liquidated. If you play with leverage or margins, you should know what you are doing. You should knowingly take on the risk while understanding the consequences. If you just FOMO into leverage and get burned, that is just greed overtaking reason. And people can lose money due to being greedy in many ways, leverage just being one of them. Losing money to highly leveraged BTC is no less stupid than losing money by gambling on micro-alts. And anyone who low to moderate BTC leverage has not been liquidated. Just like I don’t feel bad if someone loses money on unknown alts, I am not going to feel bad for someone who loses money due to highly leveraged BTC (or leveraged anything for that matter).

Leverage can be used to amplify returns or even protect losses. I don’t bother with leverage in crypto, but I did use it with stocks in the past. Leverage isn’t innately bad. It is just a tool that one shouldn’t use without understanding it. And frankly, for the 99.9% of us, there is little reason to use leverage with crypto.

> You can roast me, but this can happen to you

Lol no bro. There are smarter ways to leverage than whatever OP did. A fucking personal loan -> Buy Bitcoin would be a better play… It will take a few months of non-payment and a lawsuit for the bank to recover and they’d get fiat, not Bitcoin. Bonus points if Bitcoin is worth more then than when acquired with the loan.

Dont gamble

DCA? 

Anons getting rekt isn’t good content, moving on.

How high did he leverage to “lose everything”???
Even if you levrage a x2, bitcoin would have to lose 50% to wreck you. The whole story doesnt make sense, he says hes been DCAing for a long time, and has only touched leveraging because he was frustrated he couldnt keep up with his usual amount he puts in. Thats 4 years of putting a certain sum. Then he says that he leveraged to keep up for 1-2 year, that would BARELY put him at 1.5x, yet he got completely wiped out even tho no 70%+ crash happened (which is what would be required to wrek him if the story is true).

Either that, or he leveraged like fucking crazy, and so deserves it. But this isnt the tale of “innocent” little leverages to keepnup wrecking you.

#DO NOT LEVERAGE, OR IF YOU DO, DONT COMPLAIN WHEN YOU LOSE IT ALL

DCA’ing AND on leverage? He deserves to get rekt lol . He was too poor to actually buy and hold.. but figured he would be greedy and use what little money he had to put it all on BLACK. Yea… good recipe for gettng rekt.
He didnt get scammed- and if he did..he scammed himself from his own ignorance.

The purpose of DCA is „dollar cost averaging“ this is to protect your position and if you buy lower each time it will reduce your cost basis…….but to then turn around and put that on leverage is negating the fact you averaged your cost basis LOL. It just goes to show you that many ppl who get into trading (not even crypto) but just trading have no idea WTF they are doing.

This WILL not happen to a seasoned individual who understands how leverage works and wtf DCA’ing is. Just by HOLDING Bitcoin- just holding it.. you wont go to zero until BTC does lol. However on leverage you accelerate the chances of going to zero quicker if the market turns against you. So even in this post… it sounds like th redditor still didnt learn anything, but seeks to project hos OWN ignorance/fear on to everyone else b/c they were ignorant. Make it make sense.

Such an ignorant losers sob story.

Dude, my wife and I had a negative networth at your age and we made it all up in the last 17 years by putting our heads down and investing, and have multi-millions now. So it can be done, just have to diligent about it at this point and never look back. And trust me we dont make all that much. You can do it.

A bit confused. I’ve been leveraging since 2016 and have never been liquidated. Leverage isn’t the enemy. Greed, stupidity, and over leveraging are. Don’t be like the redditor OP posted about.

Never go full degen with EVERYTHING. If you’re doing dumb shit keep it to 10-15% of your portfolio. I’m having a hard time even feeling bad here.

Wait for 10k

Here come all the leverage experts to tell us how OP could have been a “smart” degenerate

Leveraging is gambling. Crypto is often more gambling that investing but theres no hiding leveraging

Greed is a man’s worst enemy! I know because I’ve been there myself. The pain hurts! Take care of your mental health,losing it all is a hard pill to take.

Yea I remember the leverage stress days of 2020. Almost lost my marriage because I couldn’t get away from a chart. Never again

He has a job and speaks English. He is already in a better place than 90%. He’ll be fine.

> dumb guy does dumb shit

Who could have imagined 

Dude I am sorry for your loss, but take it from someone who lives packcheck to paycheck, is 42, and has no life savings, you’re going to be fine. Ohhh and I have a wife and son, and three pugs. Get back on the horse, save as much as you are able. Maybe do a split savings half of your extra income into crypto, the other into a nest egg(that you dont touch). You are still YOUNG in my eyes. Plus you still have another what 40 ish years to work before you retire. I think you’re going to be just fine. Well man good luck and dont let it get you down.

„We live to save another day, we live to save another day“.

> You can roast me, but this can happen to you

No it can’t, because I’m not dumb enough to use leverage lmao

Degenerate gamblers don’t know when to quit or save some profits when they blow up their account