This week, after one year, I finally checked my portfolio again and I am still down 70%…

but I do not care.

After first starting with crypto in early 2021, I was not an early investor. Although I saw some juicy gains, while also making some very newbie mistakes, I was always aware that the bull market would not go on forever. Some of my top gainers unfortunately turned to dust, looking at you LUNA. I knew that my gains would be lost at some point (Lesson for the next bull run: Take some damn profits) but I was clear on the HODL mindset and I still am (mostly). After spending too much time and too much resources in the crypto world, I took a step back and focussed on my studies. I had gathered enough moons and bought enough crypto. Although I also ran out of disposable income which also helped to curb my “addiction”.

Now, after completing my studies, I have finally started my first adult job and have some money to get back into the game. This time I hope to be investing in a bear market and therefore being earlier than most.

I think that I speak for many of us: Crypto seems to be the only way for young people to acquire some significant wealth in this world. Everything is so freaking expensive. Buying a nice apartment in my city will cost me 800.000 at least. An almost impossible dream. Even if crypto turns into failure for me, at least I had better odds than winning the lottery and tried. I am not spending my life savings here. If I lose everything my life will still be good. I guess that I am lucky to have that privilege.

Thanks for reading and have a nice day!

#week #year #finally #checked #portfolio

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Bucksaway03

I was down that at one point. Then I averaged down as hard as possible, now I’m only 17% down!

Good_Republic1285

The cognitive dissonance of saying crypto is the only way to acquire wealth while also talking about being 70% down is insane. Get a decent job, invest in the stock market. It’s not sexy, but yoy you’ll see 10% gains. This is how wealth is created and maintained, not crypto projects you hope won’t rug you.

PuscH311

Go to sleep until it’s 2024

gilmeye

If you’re going to play the long game. Buy BTC and ETH

vjeva

My portfolio is nicer than yours, only 69% down

Snoo_92843

I’m down 80% if it makes you feel any better

Beyonderr

Nice. But those are rookie numbers. My portfolio is so *down* it developed an extra chromosome.

Every_Hunt_160

Honestly being 70% while BTC is at 22k (also roughly 70% down ATH) is not bad – it means you are pretty much in line with BTC’s price action

In a bull market it is not uncommon for a number of alts to do a 10x from here, overall if BTC goes back to ATHs and you stay away from investing in rugs you can expect to recover the full value of your portfolio/be in profits

throwaway1177171728

That’s the problem: You’re trying to get rich (quick) instead of wealthy over time. The richest people in the world largely got that way over time and not within a few years of completing their studies.

You’re short sighted. You’ll make way more in life getting a good job with long-term earnings than investing in the crypto lottery.

Say you make a millions or two in crypto. So what? If you get a decent tech job, you’ll likely make a few hundred grand per year (every year) for a very long time.

Vetidetdat

Yes! I need it to be +70% not minus 😪

ShotCryptographer523

Well written and I share your sentiments exactly. Only difference is I am 40 and not so young, but young at heart anyways.

Accomplished-Design7

Don’t let this pump make you feel like we are definitely in a bull market.

cloudswarm

If your down 20%, you need 25% gain from there to breakeven. If 50% down, then need 100% gains. If 75% down, then need 300% gains. If 80% down, 500% gains needed. If >90% down, you need God!

JERMYNC

RIP your apartment dreams. ?!

JoeChip87

If you’re going to be doing annual checks of your port… I’d just hold BTC and ETH (…and ETH tokens looking at you Curve), lock yourself out for 5 years and walk back in this mf like rich uncle penny bags 💰🧐

RattlesnakeGR

if I don’t see a 10x in my 2022-2023 portfolio I will have not broken even.

Okygen

Good luck for the next year. We all feel your pain

meteor-vs-lizardking

i too got into the scene in 2021. it’s rough, man

ContractTrue6613

It’s like listening to a drug addict justifying their switch from heroin to fentanyl .

“Well I lost 70% of my life , family and friends but at least I can still take fentanyl which is cheaper than heroin.”

Sadboiiy

“**But I Don’t Care**”

​

*Proceeds to make a giant post about it…*

CMDR_BitMedler

Good for you!! That’s how you play the long game.

And I can’t stress this enough for people at the beginning of their journey… try not to set the same goals as generations before you – try to get rich, marry, kids, house, die… Your future will be so much different from everyone before you… so define your own terms, set your own goals and rules and ride that fucking wave all the way to shore. The wave is fast and you quickly find other people’s goals don’t feed you what you need… Don’t get to shore hungry… Get there satisfied and fulfilled.

Rtbrosk

buy another shitcoin……

they pump…..you buy,,,,,,they dump

DPSK7878

I also started in early 2021 and I’m down about 70%.

This is after losses in LUNA, UST, BlockFi, FTX, Celsius, Gemini.

Any recovery from the bankrupted companies will be a bonus for me.

DistributionFit74

Same. Still down almost 70%

DryTechnology5224

This guy’s in it for the tech 😄

onichaninu

You know….ElonNewCumInu It’s next 1000x…I’m holding it too

evoranger2018

70% down, is that all. Most people are 99% down

ibeforetheu

Do you ever think about the things that you could’ve bought or done with that 70

mentevagante

70% so far!

rjolivet

“Crypto seems to be the only way for young people to acquire some significant wealth in this world” :

No, your are dlusional.
It’s a negative sum game. There is no value created / no input cash flow, only output fiat to : makers of asics, fees for exchanges, energy for miners. This space only drain money at your expense.

It’s all just poor fellows like you gambling against each other in a market rigged by big whales. You entered a cult. You can leave it.

bigjack78

It’s not the only way to get ahead. Invest in some normal mutual funds and other broadbased etfs

hardervalue

And if you had put that money in the stock market you’d still have most of it, and will have a lot more in the long run.

HODL is a phrase created by stock and crypto promoters to get suckers to keep buying and holding while they cash out.

bojack-horsey

>Crypto seems to be the only way for young people to acquire some significant wealth in this world.

I wouldn’t expect too much. You said it correctly: you’re not early. The time of crazy gains is probably over, except if you gamble on super risky low cap coins and are extremely lucky. I think all we can hope for is nice gains, not significant wealth

oxymoroooon

Diamond hands forevs!!

Sunvmikey

You don’t care you’re down 70%? Copium to the max. Fuck being 70% down lol

ManFromExoplanets

Congratulations 😒for what is left, some have lost it all

Drizznarte

One year too early.

ETHBTCVET

Cut your losses and put the money in S&P.

danielnaz23

How the heck do you earn moon?

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