Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days - Investment (11)

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Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days - Investment (11) - Nairaland

Nairaland Forum / Nairaland / General / Investment / Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days (61192 Views)

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Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by easiest(m): 3:17pm On Nov 11, 2022

Sell your fiat to a stable coin till market bounce back. Currently seem all altcoins are not ready to go back up and that will make your fund crash more.

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Hydroxide(m): 3:17pm On Nov 11, 2022

I had about $3000 on my trust wallet some time ago, it's not worth upto $800 anymore. Na once I leave am there if e wan fall more or rise e no concern me again.

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by SPAMBOX7: 3:18pm On Nov 11, 2022

donpata:

Lol. No. U are a mediocre and think by halving, price will automatically double. I don't need google. I'm a Google engine for myself. You need YouTube and experience in training to understand. The value of a coin is based on demand and supply. If u like half or half and quarter a coin, if demand is poor, price won't be favorable. No one can tell you 100% if btc will be here by 2025. People like you are the ones in Binance telegram that will say BTC will NEVER drop to so so so and so. One argued with me like that. Said 17k is lowest and we will see 25k b4 going down. Shey no be btc hit 15k few days ago? I REPEAT, AS FAR AS IT'S CRYPTO, NOTHING IS CAST ON STONE. If in doubt, ask Luna and filecoin warriors. Ohh, what of Solana? Guy, park well. I have been around since BNB was 4 dollars.

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by decub: 3:18pm On Nov 11, 2022

GREATIGBOMAN:
So due to how Naira misbehaving.

I went and withdrew 70% of my savings from the bank and bought $19,000 worth of USDT at N863 per dollar on binance p2p

Guess what.

I just check and they're currently selling usdt there at 722 naira.

My hard earned money just lost like that

I just deleted the app... If they like let them make it drop to N400

Crypto have really delt with me

Last year it was one merchant token that ripped me off $2000
Then Shiba Inu ripped me $1200

Anytime I do anything crypto related I lose money

Will anyone advice me to sell my USDT now at 722 and accept my loss or wait untill December if Naira will lose value further to say N900 to a dollar

Will dollar be scarce in December?

Honest opinions

You are not alone, many people lost due to the sudden drop.

However, you don't invest in crypto when you don't have a good knowledge of it especially when there's hype cos whales hype projects so they can dump on newbies. Don't always FOMO.

Your investing in Shiba last year shows you probably heard the news of the hype and didn't want to miss out (FOMO-fear of missing out). Join crypto groups on Whatsapp, TG, crypto twitter and garner enough info before investing in anyone.

My 2 cents

2 Likes

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Lionnation: 3:18pm On Nov 11, 2022

GREATIGBOMAN:
So due to how Naira misbehaving.

I went and withdrew 70% of my savings from the bank and bought $19,000 worth of USDT at N863 per dollar on binance p2p

Guess what.

I just check and they're currently selling usdt there at 722 naira.

My hard earned money just lost like that

I just deleted the app... If they like let them make it drop to N400

Crypto have really delt with me

Last year it was one merchant token that ripped me off $2000
Then Shiba Inu ripped me $1200

Anytime I do anything crypto related I lose money

Will anyone advice me to sell my USDT now at 722 and accept my loss or wait untill December if Naira will lose value further to say N900 to a dollar

Will dollar be scarce in December?

Honest opinions

the only problem here is that you just don't have sense

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by jimetagambo: 3:19pm On Nov 11, 2022

GREATIGBOMAN:
I need ur input.

Money way I wan use start house project

I bought that USDT Because I didn't want my money to be loosing value in the bank

Now all of a sudden immediately I got usdt some people are now telling me I should have gotten BUSD

Why on earth did Naira appreciate

As if they were timing me

Speculator. Just gambling gone bad. Alot of currencies worldwide are pegged against the USD.
Inflation is cooling in the US and market are stabilizing.

2 Likes

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Wrakeim: 3:19pm On Nov 11, 2022

bobbiiee:

Can you give reason please?

Just like what happened to FTX, these exchanges use your money to give out loans; there is what is called fractional reserves, so what you see on your app is just numbers with no value because your money has been loaned out.

In crypto if you don't have the key (phrase) the money is not yours.

2 Likes 1 Share

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by WHITELIGHTER: 3:19pm On Nov 11, 2022

Let's tell ourselves the truth, Naira won't get to ₦860 again...it will hover around ₦750 at best and will go lower when new notes hit the market.

4 Likes 2 Shares

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by pocohantas(f): 3:21pm On Nov 11, 2022

Carlyboi:

I no fit laugh!Wetin be this must be 20k naira sha

Yes of course. 20k Naira. How would I put my money inside crypto? cheesy

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Wrakeim: 3:22pm On Nov 11, 2022

jimetagambo:
Speculator. Just gambling gone bad.
Inflation is cooling in the US and market are stabilizing.

globally we are about to enter bear run. Stock market lost 30trillion dollars. This is just the beginning of the great bear. Fintech are going down and sacking employees.

2 Likes

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Munzy14(m): 3:24pm On Nov 11, 2022

mariahAngel:

I ga la a cho?

Lol..ndi crypto a eeeh, obi ji ata ha mmiri..

Imagine the wish..For naira to reach 910/$

Millions of average will become poor.. lipsrsealed

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Drunkard1: 3:25pm On Nov 11, 2022

mariahAngel:

You gan sef!
Person dey lament say him dey lose money, na that time you know say you go beg am money? O de beru Olorun!

wis money he dey lose. He get dollar. He is good.

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Wiseonetemmy(m): 3:25pm On Nov 11, 2022

Of you can take this advice, you will laugh last. The truth is that the dollar is going to crash which will make naira appreciate. But instead of just keeping all your usdt, you can buy cryptos with 20% of that usdt. The 20% you invest will multiply your usdt multiple times in 1-2 years if you have the patience to wait. Cryptos are at their cheapest right now and it will be a sad news if you don't take advantage of the low prices now.

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by SerendipityHIGH: 3:26pm On Nov 11, 2022

Wrakeim:
Naira will gain against dollar, sell and count your loses. I am predicting a dollar crash against naira back to #500 to a dollar the market is inflated

Can you give logical reasons for your prediction?

1 Like

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Drunkard1: 3:27pm On Nov 11, 2022

mariahAngel:

You wan still collect loan on top gbese wey you owe?

i need loan. Help or better job.

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Juleeee: 3:27pm On Nov 11, 2022

GREATIGBOMAN:
So due to how Naira misbehaving.

I went and withdrew 70% of my savings from the bank and bought $19,000 worth of USDT at N863 per dollar on binance p2p

Guess what.

I just check and they're currently selling usdt there at 722 naira.

My hard earned money just lost like that

I just deleted the app... If they like let them make it drop to N400

Crypto have really delt with me

Last year it was one merchant token that ripped me off $2000
Then Shiba Inu ripped me $1200

Anytime I do anything crypto related I lose money

Will anyone advice me to sell my USDT now at 722 and accept my loss or wait untill December if Naira will lose value further to say N900 to a dollar

Will dollar be scarce in December?

Honest opinions

Sorry. But I don't want naira to loose value, I want it to gained more value as millions of Nigerians lives depend on it.

2 Likes

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by SerendipityHIGH: 3:28pm On Nov 11, 2022

fortunez1:

Naira may get better and fall back to around #500- 650 to a dollar , but it's all a risk btw the new US dollar policy on West Africa which may lead to dollar shortage in the market because most dollars in Africa are ill gotten from corrupt politicians , kidnapping , terrorism , laundered etc so and another positive factor been end to Russia/Ukrainian war which will stabilize the world economy seeing a slight rise in Naira and another factor is if petroleum subsidy is removed , dollar might fall below #500

That news was fake

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by einsteine(m): 3:30pm On Nov 11, 2022

Opened the thread thinking you lost money in crypto only to see you didn't lose money at all. Usdt is usdt. As long as the amount of usdt you had didn't change, you didn't lose money.

Or you are calculating your loss in naira? Since you know you use naira, what then did you buy usdt for?

Greed did you in, not crypto. You thought naira would hit 1000 per usdt, right? Lol

4 Likes

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by jimetagambo: 3:30pm On Nov 11, 2022

Wrakeim:
globally we are about to enter bear run. Stock market lost 30trillion dollars. This is just the beginning of the great bear. Fintech are going down and sacking employees.

100%

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Goldbw122(m): 3:30pm On Nov 11, 2022

InvertedHammer:

/
1. Historically, the influx of Diasporans for Xmas tend to bring in more forex into the parallel market.
2. CPI printed a good number in US yesterday and $ tanked against all major currencies---that's the reprieve you saw in the market. It ain't got nothing to do with FG or EFCC.

I have got calls last week about two young lads that committed suicide in Nigeria because of crypto. One left a note to the effect while the other was reported to have been depressed for more than two months. That's two unreported death within one month. So...you see...you are still alive which means that you are not doing bad after all.

I can give you a link to go and read up on other people's losses. You will notice that what you lost is just a penny to the amount of losses you will see there. A lot of people are hurting. But then, that's the nature of the market---sell fantasy to peasants and turn them to bag holders on the long term.

/

Thanks bro

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by an555: 3:32pm On Nov 11, 2022

If this guys lose any more money he might have an heart attack

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by einsteine(m): 3:33pm On Nov 11, 2022

fortunez1:

Naira may get better and fall back to around #500- 650 to a dollar , but it's all a risk btw the new US dollar policy on West Africa which may lead to dollar shortage in the market because most dollars in Africa are ill gotten from corrupt politicians , kidnapping , terrorism , laundered etc so and another positive factor been end to Russia/Ukrainian war which will stabilize the world economy seeing a slight rise in Naira and another factor is if petroleum subsidy is removed , dollar might fall below #500

Stop spreading false news. No such thing as new us dollar policy in West Africa. US notes since 1912 are still being used and their acceptance is codified in US law. Fake news merchants deceived you guys.

The US is very well aware that dollar notes are used to hold proceeds of criminal activity. They don't care. Infact, they quite enjoy the seignoirage made from printing such notes.

2 Likes 2 Shares

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Wrakeim: 3:33pm On Nov 11, 2022

SerendipityHIGH:

Can you give logical reasons for your prediction?

dollar is losing value. If you can read charts, check the dollar index (dxy).
The dollar is inflated.
Excessive dollar printing has been going on since covid.

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Raxxye(m): 3:34pm On Nov 11, 2022

GREATIGBOMAN:
So due to how Naira misbehaving.

I went and withdrew 70% of my savings from the bank and bought $19,000 worth of USDT at N863 per dollar on binance p2p

Guess what.

I just check and they're currently selling usdt there at 722 naira.

My hard earned money just lost like that

I just deleted the app... If they like let them make it drop to N400

Crypto have really delt with me

Last year it was one merchant token that ripped me off $2000
Then Shiba Inu ripped me $1200

Anytime I do anything crypto related I lose money

Will anyone advice me to sell my USDT now at 722 and accept my loss or wait untill December if Naira will lose value further to say N900 to a dollar

Will dollar be scarce in December?

Honest opinions

So you want naira to lose value again so that you'd make profit. I would have said God should punish you and your entire family, but I'd rather pray that God should forgive you and have mercy on you!

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by FunkyAlhaji2015: 3:34pm On Nov 11, 2022

GREATIGBOMAN:
So due to how Naira misbehaving.

I went and withdrew 70% of my savings from the bank and bought $19,000 worth of USDT at N863 per dollar on binance p2p

Guess what.

I just check and they're currently selling usdt there at 722 naira.

My hard earned money just lost like that

I just deleted the app... If they like let them make it drop to N400

Crypto have really delt with me

Last year it was one merchant token that ripped me off $2000
Then Shiba Inu ripped me $1200

Anytime I do anything crypto related I lose money

Will anyone advice me to sell my USDT now at 722 and accept my loss or wait untill December if Naira will lose value further to say N900 to a dollar

Will dollar be scarce in December?

Honest opinions

The dollar is not going to get to 800 dollar again. A lot of travellers come during Christmas with dollars to convert to naira, so there's always a lot of dollars in the market in December. January politicians will be flooding everywhere with money which is mostly in dollars.

2 Likes 1 Share

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by eejo(m): 3:35pm On Nov 11, 2022

GREATIGBOMAN:
I need ur input.

Money way I wan use start house project

I bought that USDT Because I didn't want my money to be loosing value in the bank

Now all of a sudden immediately I got usdt some people are now telling me I should have gotten BUSD

Why on earth did Naira appreciate

As if they were timing me

evil mind on Nigeria will not work. Nigeria with a good leader will crash dollar to naira rate.

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Carlyboi(m): 3:35pm On Nov 11, 2022

pocohantas:

Yes of course. 20k Naira. How would I put my money inside crypto?

Good you only tested the waters that cryptic coin ain’t for the faint-hearted, ignored that investment nonsense for so long till I put it in some decent sum that’s now reduced to about 35% of my input....not even bothering with it I ain’t selling till it rises to at least the sum invested even if it takes eons lol unless I do a 360.
The sum isn’t necessarily a disposable income but I can still comfortably afford to do that.I can’t imagine how people who put in their all in things like this feel?sad,stupid and depressed I guess.it’s crazy out there!

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by Munzy14(m): 3:36pm On Nov 11, 2022

Hydroxide:
I had about $3000 on my trust wallet some time ago, it's not worth upto $800 anymore. Na once I leave am there if e wan fall more or rise e no concern me again.

Crypto is gamble..Two people gather to take eachother's money..The smartest wins.

2 Likes

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by kmaster007: 3:37pm On Nov 11, 2022

Ok! Thanks for the advice

HardMirror:
i have learned one lesson in life. Those really making money would NEVER have time to tutor a stranger. They will only tell u the basics, but u expecting me to be guiding u? Lol. Just calm down and use google u will be surprised how much u will learn if you dedicate 2 hours everyday for a week.

1 Like 1 Share

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by OldSkoolHeadBoy: 3:38pm On Nov 11, 2022

ONCE GREEDY, ALWAYS A VICTIM OF THE LATEST SCAM IN TOWN !

GREATIGBOMAN:
So due to how Naira misbehaving.

I went and withdrew 70% of my savings from the bank and bought $19,000 worth of USDT at N863 per dollar on binance p2p

Guess what.

I just check and they're currently selling usdt there at 722 naira.

My hard earned money just lost like that

I just deleted the app... If they like let them make it drop to N400

Crypto have really delt with me

Last year it was one merchant token that ripped me off $2000
Then Shiba Inu ripped me $1200

Anytime I do anything crypto related I lose money

Will anyone advice me to sell my USDT now at 722 and accept my loss or wait untill December if Naira will lose value further to say N900 to a dollar

Will dollar be scarce in December?

Honest opinions

1 Like

Re: Crypto Is Not Just For Me, Massive Loss (millions Gone Under 2 Days by chukkystar(m): 3:39pm On Nov 11, 2022

Cowriwise

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