The advice explained at the end of this story is the advice YOU SHOULD FOLLOW if you're inexperienced in this game.
I have a good close friend that gambles from time to time. He plays the lottery, he buys scratch off tickets, he enjoys going to the harness racetrack to bet horses. He plays poker once in a blue with other friends of mine.
Back in March last year, I urged him to invest into crypto currencies. After all, he gambles anyway. He refused, and he said he has to look into it first.
Fair enough. I figured I'd educate him a little. I explained the price rise over the years etc etc etc.
Heres how we talked about it over time. Not exactly word for word but pretty much what was said.
The conversation
Him: Dude, you say its gonna be worth more now, but you really don't know.
Me: fine, but you gamble all the time. You spend $1000s in a year gambling . just put down $100 on ripple, eth, BTC or LTC.
Him: ok fine, but not now, if by September the price goes up, ill believe it when I see it. Then I will put $100 down.
Me: put down $100 now. If you lose it by September I will give you your hundred back,
Him: I cant take your money, just forget about it.
July comes along
Conversation 2
Me: All the ones I told you to buy went up. You would of had like $4000 by now if you bought ripple. You should buy it now, and hold it in telling you.
Him: Why do you keep talking trying to get me to buy? I told you I dont want to do it. Lol
Me: that's not the point, I'm telling you because its a great opportunity, and you are already gambling your money all the time. If you were a person who didn't believe in gambling I wouldn't be trying to get you in but thats not the case. Jesus. $100 its not like you are gonna be out in the street if you lose it. You dont have kids to take care of and you make more than that in 4 hrs of work lol.
him: if you love it that much, then why don't you buy more with your own money
Me are you serious? I made so much already I dont have to buy more. Lol
him: so if I buy in now and I gain $4k in half a year, then everything crashes I'm gonna feel like garbage because I should of cashed out when I had the chance.
So at this point he's explaining classic FUD without realizing it, and ripple is sitting at a pretty 25 cents
Me: ok fine. So instead as soon as you hit that $4k then cash out . problem solved lol
I gave up at this point .
Mid December rolls along, and ripple sees it's first signs of life.
I get a phone call.
Guess who? Its the Idiot
Conversation 3##
Him: YO! I want to buy crypto, help me buy it.
Me: Now you say this? What made you change your mind?
Him: I know I know, I should of listened to you when you were telling me to buy ripple in march. I heard it gained a lot. I want to put $1000 down
Me : from who?
him: a customer I dealt with today was telling me about it.
Me: so you listen to a random stranger instead of you friend of 11 years? Dude. Hsve,I ever put you in a bad spot? No . so what the fuck?
Him: I know i know , I just didnt believe what you were saying to me. It didnt make sense but once I heard other talk about it, I knew it was a big thing. I have to get it now because once it gets listed on coinbase its gonns hit $10
The FOMO has begun... from a RUMOR!
Me: Its not gonna hit $10 . it might hit $5 but I highly doubt that's gonna happen any time soon.
him: how can you be so sure!!! You don't know. If definately gonna hit $10 ! Its gonna be listed on coinbase.
^ hes and expert all of a sudden because,he just got shilled into another dimension , hes never made an investment in his life, and again not listening to me!
me: wait wait wait.. How do you know??? I made over $25k already on a $500 investment . I at least know a little more about what's happening than you do.
So anyway my friend wound up having serious trouble getting verified with coinbase. Ripple has already mooned to $1.50 at this point. Its been a over week and his bank card still gets denied . at this point he gave up trying so I made the deposit for him, and told him to pay me back when he sees me.
Conversation 4
Me: listen, im gonna get you $1000 just pay me back, but you have to listen . Dont buy ripple, the coinbase thing is just a rumor, and this thing is over hyped. Wait for it to drop, I sold mine already , cashed out some and moved the rest to SmartCash.
Him: you're CRAZY!! ITS SO gonna fly to $10! Its my money. Where did you hear its a rumor? I want ripple!
*this is seriously how he reacted to me. He went insane. Like he was infected with rabies. I remained calm, but to be fair its a lot easier to remain calm when you already cashed out big gains. Lol*
Me: im not giving it to you now. Figure out how to get verified. Put your money in Smartcash. The rewards are coming up soon. Its a solid project . Youre gonna see gains. I've been holding this since it was a penny <---its at 17 cents at this point.
him: fine fine. I just want in this game but if I lose that I'm not paying you because its not the choice I wanted to make.
me: fair enough, but if you gain more off this than ripple, im keeping the gains , and you owe me 500 deal?
Him: what??? Thats crazy no
me: no , youre crazy. You want a situation where you have everything in the world to gain smd nothing to lose leaving me with nothing to gain, and everything to lose? Hell no. No deal
him: ok fine.
Me . sign up for blah blah blah. Give me your address.
A few days past. SmartCash is at .70 cents. I give him call
Conversation 5
Me: SEE I TOLD YOU smartcash was going up!
Him: yeah I got out, and bought ripple
Me: what??? Get out now!! what did you buy in for?
Him: 2.20 but its fine its $3.50 now its gonna moon to $10
Me: why?? I told you not to. You would of made x5 already if you just left it in smartcash, and you would of had rewards coming ! That's the same gain as ripple hitting $10!
Him: you keep saying this like you know . that's fine. I never even heard of smart cash . no ones talking about it. How do you know its good all of a sudden? I made gains .
^ here we go again. He's the expert all of a sudden.
Me: Just listen to ME FOR ONCE!!! every time so far you have been wrong, and its probably because I have more experience than you. Do you walk into a hospital and start going against what,the doctor said because you a whole season of ER and you know EVERYTHING NOW?
Him: yeah but youre not a doctor , youve only been in crypto for 9 months.
Me: yeah but I have more experience , and I have great gains ! All my,moves have been right so for. Even if its on sheer luck ...the luck is in my direction. Follow it until you know what you're doing. Get out of fucking ripple right now. Buy ethereum , its too late for smartcash. Right now.
Him: wait but you were just all over it , and now you're telling me not to?
Me: its up now, but theres a problem with the exchanges . the coins are locked up till they update the wallet. You can buy but you cant transfer. So don't do it. Ethereum is safe. Its at $750 and its in a nice uptrend. Just put your money in until the dust settles with ripple.
Him: ok, but I'm gonna only put in half to ETH, and half ripple. I like it too much.
Me: fine its a start, at least your taking some of my advice into considerstion.
Few days pass, I give him a call
Convo 6
Me: tell you're not happy right now with ETH! X2!!! I just SAVED YOUR ASS from a 60% Loss!
Him: I didnt go into ETH. I stayed
Me: are you fucking serious??????
Him: I know I'm an idiot. I feel like shit,I'm down to $750. I could of been up $500 if I put the $750 in eth. But Its not the end of the world . I m down to $700 its only $300 loss.
Me: Only 30% loss from your original investment . only 30%. You would of had $250,000 if you dumped $1000 in ripple back in March . $500,000 if you cashed out at $3.50. And if you would of listened to me, and took me up on the $100 you would of had $25'000 lol.
Him: what? No way
Me: dude. Ripple was .005 in early March when I mentioned it lol
Him: half a penny????? Why didnt you tell me it was that cheap.
Me: um. I told you to invest in it. Nevermind.
So the moral of this story is. My friend is s dumbass.
That's part 1.
So the crash happens, and he's flipping out. Hes in and out of 10 different coins. He's shilling every new coin in the book. His money is spread out so thin that there's little to no chance He's gonna find that bridge to success.
And if he does , the bridge is probably termites holding hands. At best he's a failed day trader at this point.
Anyway fast forward to a week ago. Hes now down to $100 lol
He would of been just fine and at worst case he would of gained x2.3 his money on smartcash at his worst case scenario if he would of just listened due to all the smart rewards.
Now he's shilling this coin called Garlic but he has his entire $100 in LTC.
I said ,
" look. In gonna front you $500 . youre gonna put it in Garlic. (I looked into it , I actually like it . possibly future doge competitor. We will see ) youre gonna keep it there. I don't care if it drops down to a penny, leave it!. Its a long term hold. Dont pay me back, and don't fucking sell until it goes up at least x2! Its our money. Not mine, not yours. OURS . I dictate. I'm the CEO, youre the VP. I want it long term but you have the power to sell when it hits x2 but i advise not to but I wont be mad if you cash out with that gain"
He agrees. I bought in at .25 and transferred it to his wallet.
Not even 1 day later he's upset and says , "its down to .18 cents. I want to get out now. This coin isnt going anywhere"
Conversation 999995#
Me: NO NO NO NO NO. LEAVE IT! IF YOU CASH OUT I WANT ALL OF IT!
Him: ok ok, I just don't feel comfortable with this. I want to go into Revain. Ive been watching it. Its mooning so hard
Me: yeah and its gonna drop again before it goes up further.
Him: how do you know that! Youre so sure its the only thing going up that much.
* he's 36 years old. He's actually quite mature but in crypto hes acting like a kid in Carnival wanting to play all the games that are set up for you to lose*
Me: tough shit . it stays in Garlic .
Him: fine, I cant complain I guess. You did give it to me,
Me: exactly. Listen just this one,time.
Fast forward to today. I check out garlic and its up to $0.55 to $0.60 . I'm pretty happy.
I give him a call.
Guess what this fuck did???? He sold 2 days ago at .22 each!!! His excuse?
"I know , I bought LTC. We are good. LTC is up. I got it at $170. Its solid. I'm gonna hold it forever"
Convo 4 trillion##
Me: I cannot believe what you just did. YOU HAVE TO BE KIDDING ME!
Him: im not, I can,still buy back we are good.
Me: NO YOU . please at least TELL ME YOU SOLD AFTER THE AIRDROP??
Him: what airdrop??
Me: fuck ...
Your ...
Life right now.
I know you sold,for LTC and made gains but 1) you sold at a loss to do it. 2) you could of had x2.3 your gains! That's $1200! You would of had $700 for yourself!!!! And PAID ME BACK!
BUY IT BACK NOW! NOW!
HIM: and buy at a loss?? Thats crazy.
Me: I want to kill you now. All,that coin has to do from,this point is hit a $10 mill market cap and we would be at 12 fucking grand. If it does somehow inch its way up next to doge we can buy a A fucking lambo!
Him: that's not happening !
Me: HOW DO YOU KNOW??? THEY HAVE MORE FOLLOWERS THAN DOGE! Theres room for another MemeCoin . even if its 2nd place to doge on the 2nd page we are over 100k! Even,if it hits the 4th page we would have 40 k !
Him: are you sure you want me to buy back? If it drops to 40 cents we are gonna lose even more.
Me: dude. 40 cents is still the same gains as LTC you got. I don't care its my money I gave you . you broke my trust , you wouldn't be in this situation if you would just listen.
..
Ok enough of this. I forced him to buy it back . hes upset I made him do it. In secretly storing half for him. But im not telling him that. Lol. I will surprise him when he's in a bad situation "outside of crypto" . but for now hes banned .
NEW INEXPERIENCED INVESTORS PLEASE LIVE BY THIS UNTIL YOU KNOW WHAT YOURE DOING#
- 1) DONT BE LIKE MY FRIEND.
-
2) If someone has a lot more experience than you, its probably best to take their advice over your own
-
3) find something you really like and Hold
You dont know what the fuck your doing yet, its your best bet. Hold. It doesnt matter if you're at a loss. Keep it. EVERYTHING GOES DOWN. IT HAPPENS! DEAL WITH IT. EVERYTHING EVENTUALLY GOES BACK UP
- 4) If you really start liking another crypto, then buy back in, and buy that crypto
Dont touch your long term shit. Buy back in
- *5) Dont Chase uprising coins *
I mean this as in, if some coin has already went up 70%, 99 times out of 100 its not going to stay there. It will fall down to where it was before or close enough to it . buy it when it falls back down. If you still like it at that point.
- 6) youre not a day trader. Youre gonna lose in the long run
Youre new to this game. If you really have a thrist for day trading. BUY BACK IN and use that money to day trade. Dont touch your long term holds, and consider that money lost until it proves you wrong.
-** 7) Just because its up, doesnt mean its gonna go down again. It could keep going until it reaches a new floor.***
Find,out why it went up in the first place. News, shills, pump group? If it doesnt make sense, then its most likely gonna drop.
Ok I'm done. Tired
Who has a friend like this?
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