The 2020-03-12 crypto crash: how much did you lose? - AAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA

[CowboyBeepBoop]

Hello!

Today, we experienced the largest crypto crash in recent history.

Bitcoin Tackles $6K After 20% Crash as Stocks Rival 1987 Apocalypse

The aftermath of Bitcoin’s worst hourly performance in history continues to weigh on exhausted traders as Wall Street plummets again

cointelegraph.com

Bitcoin Hits 10-Month Low Below $6K as Stocks Plunge in Massive Sell-Off - CoinDesk

Bitcoin is in turmoil on Thursday, having quickly plunged to below $6,000 for the first time since last May.

www.coindesk.com

So much for crypto being a hedge against stability. So, my fellow Kiwis, how much did you lose?

I lost around 200$ of my 700$ portfolio. Those numbers may seem small to you but I am in a second-world country and it was a significant chunk of my savings.

 

[crocodilian]

Wasn't cryptocurrency supposed to be "the future"? What's the point of various iterations of -coin if it simply collapses alongside the dollar and every existing market it (apparently) sought to undermine?

 

[BingBong]

I never invested in anything so I'm perfectly fine.

 

[MuuMuu Bunnylips]

Get back to me when people start throwing themselves off of buildings.

 

[garakfan69]

Get back to me when people start throwing themselves off of buildings.

Hard to do when you do your business in a basement.

 

[MuuMuu Bunnylips]

Hard to do when you do your business in a basement.

Don't ruin this for me.

 

[MrTroll]

Approximately the cost of the electricity it required to click on this thread and laugh.

 

[Coolio55]

I never invested in anything so I'm perfectly fine.

I'm still not sure how someone managed to market monopoly money so effectively
...scratch that. Monopoly money still exists without an internet collection.

I guess it was the "good old days" of 2011 when reddit and all the other internet monopolies allowed non preselected things to get popular and it had that "indie" spirit behind it.

 

[Skeletor]

Why did anyone ever think crypto would be independent from the rest of the economy?

 

[WeeGee]

$100, but 90% of it was from Brave, I'm sure it will go up once people stop shitting themselves and doing nothing.

 

[ForgedBlades]

$1.55

 

[Puck]

About 1200 but I'm never selling these fucking things

 

[Hotpie]

I only have ripples I got free so I am still ahead just not as much. I guess the moon was a battle station after all.

 

[awoo]

Wasn't cryptocurrency supposed to be "the future"? What's the point of various iterations of -coin if it simply collapses alongside the dollar and every existing market it (apparently) sought to undermine?

The point is that it still enables confidential transactions which was its original purpose.

I would never "invest" in a cryptocurrency. I would feel moderately bad if I lost a lot in a stock market crash, but I would feel even worse if my currency mysteriously "disappeared" like in Mt. Gox. Triggers the crypto idiots every time.

 

[CowboyBeepBoop]

It somehow got even worse.

I can't even.

The point is that it still enables confidential transactions which was its original purpose.

I would never "invest" in a cryptocurrency. I would feel moderately bad if I lost a lot in a stock market crash, but I would feel even worse if my currency mysteriously "disappeared" like in Mt. Gox. Triggers the crypto idiots every time.

There is no risk of your crypto disappearing if you have it in your own wallet. You are only at risk if you keep your coins on an exchange.

 

[Boris Blank's glass eye]

Look at the bright side of things, it could be much worse.
At least you didn't get into Bitcoin when it was still climbing, around $11k, only to lose half your investment after China banned it and Gordon Gecko wannabes sold all their coins.

Neither did I.
The ideal of Bitcoin was murdered and its corpse raped several times when Gox disappeared, when the network was taken over by a mining pool, when China got into mass mining on cheap electricity, and when bankers used it as just another investment without anything to counteract them.

 

[Alex Poulos]

Nothing because I didn't sell.

 

[AmpleApricots]

I like how this pretty much confirms that cryptocurrencies are basically just a scheme to get at that dirty, dirty fiat money of other people buying into the same scheme

 

[Leonard Helplessness]

This is from a crash that occurred 2 years ago, but relevant as fuck. So is this:


I didn't lose anything personally.

 

[Varg Did Nothing Wrong]

Those numbers may seem small to you but I am in a second-world country and it was a significant chunk of my savings.

If you're in a "second world country" and your life savings is $700, you're either homeless or you're doing something wrong. Maybe your problem is throwing the money you do have away investing in retarded shit like crypto.