@@TheBrob1983 It will probably reach $1 on this bull run Personally I would have only invested what I was willing to lose, ie $1-5k over a few years otherwise its gambling
If you put 200k on credit cards and you don’t sell at 3MM on Doge (a joke coin) and a financial expert spent a an hour begging you to sell… I can’t feel bad for you.
In a weird way, you have to drift so far from reason to make such a risky investment like that, that you might have been a lost cause the day you made the investment.
@@killamain6405not really. Most people who buy cryptocurrency are not buying to perform transactions, but to make money. Stocks differ from it because the money you invest is used by the company to use in their business to increase the value by expanding the business. USD differs from it because people don’t hold USD in the hopes of profiting from it. People use it to buy things. So, you got people putting money into something that is not being used for transactions and it doesn’t have any utility in the sense of a stock. Only way you make money is if someone else buys it more than you paid for it and they have to do the same.
Greed would be to sell it, he’s invested for the long term. That’s what separates day traders and billionaires. That $3 million will easily be $10-$50 million in the next bull market.
@@Rabbit-the-OneIn this situation, there can be no fear without greed. He had already become extremely profitable on his investment, able to pay off all debts and never work again. Scared of what? He was scared it would go up after he already sold millions worth. If that’s not greed, I don’t know what is.
@@Hamzahyn4 is not that easy on reality cause if it starts falling maybe it falls a big amount fast and then nobody wants to buy it or buy the whole amount u have
Exactly. I don't know why people hold on so long. Like if I invested in any of the coins and it made me a millionaire I'm pulling out like what I am not greedy because I know a couple of million alone and you can live off that for the rest of your life. And you can still probably invest it somewhere else and make even more money and something more stable. But he probably believed it would get even higher. And I don't have faith and cryptocurrency at all. I would have just used cryptocurrency as a vehicle to get me to wealth and then pull out
And be greedy when others are fearful. The problem with such deep-sounding quotes is that they're hollow. People are always fearful (of something) and people are always greedy (for something). So we must always be fearful and greedy because everyone else is always fearful and greedy? Seems like an exercise in futility.
I think a big part of it is that they never really do have it in hand. It's numbers on a screen so it just doesn't seem real. Luckily, I don't have that problem.
@@jimj2683 at least selling half during an obvious mania, and he would have been in a win win situation Still has 1.5m+ basically 1m after taxes, and still has half his stack in case it goes higher.
As an lnvesting enthusiast, I often wonder how top level investors are able to become millionaires off investing. . I’ve been sitting on over $545K equity from a home sale and I’m not sure where to go from here, is it a good time to buy into stocks or do I wait for another opportunity?
It's best to seek a manager right now, unless you're canny yourself. As a business owner in both the service industry and eBay reseller of all product categories, I can tell you we’re in a deep recession and everyone is running out of money.
I agree, that's the more reason I prefer my day to day investment decisions being guided by an asset manager, seeing that their entire skill set is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using an investment-coach for over 2years+ and I've netted over “$900K”.
How could I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
Thanks for the advice. The search for your coach was simple. I researched her well before arranging a call with her. Considering her resume, she appears knowledgeable.
Yeah and even if he wanted to keep waiting, he coulda set a limit order so that it automatically sells at say 2.5mil. Then if it goes up he makes more money, but if it dumps he gets no less than 2.5 mil for sure. Bro was so stupid
@@samolofsson2401 just because something that was a joke was once a joke doesn't mean it's not viable. It actually has more utility than BTC and will rise again
Not a million but i knew a coworker who boutht a meme coin made 100k on a whim held on thinking he was gonna get more lost it all .. imagine he said his friend made more 200k but cashed out 30 atleast his friend was smart to cash out something
Bro you didn’t even need to sell it all. Cash out 2.5 mil. Keep 250k in dodge coin and move the other 250k to bitcoin and call it a day. Dude was a gambler not an investor. Take a gambling junkie to the casino if they win big they will gamble that all back in the same night lmao
problem is your friends would have convinced you to sell at 500k and you would have watched it continue pumping way higher then were you sold then you would likely blame said friends for making you cash out early
Wasn’t even on the phone, bro was showing and begging him in person to sell and he still wouldn’t. Buddy didn’t take the warning before the storm and he’s now drowning in his own decisions
I was into bitcoin in 2012 and have over 300 million dollars in bitcoin transactions at its current day value, make about 30kusd a year and am not rich at all.
Its not greed. You guys were never in a state like this. It's called euphoria and in that state, it feels hard to sell the profit that you made. I totally understand this guy
Greed isn't a factor in stocks because it's a dice roll. You're stupid if you risk your money. Especially when he sold everything he had. Greed is the rail companies refusing to pay for replacement bearings for train cars, and instead giving it straight to investors not this.
Remember the guy that backed out last minute to providing start-up money to Steve Jobs for Apple? Larry David had a movie about something similar called “Clear History” (I think). Super good movie.
the difference is that he didn't put money into apple, this guy went into debt buying dog and he ended up losing more than winning@@secretsauceskateboarding4337
The thing is, he got set up just for being the doge millionaire who wouldn’t sell.. so now he is a part of the doge you tubers now and makes his 50k a year easily on YT.. he played the long game and is still going.
@@InTimeMiami there are positives and negatives to everything, every thought, decision and half baked idea you've ever had have positive and negative connotations
@@vividdarkness8383a millionaire would be stupid to keep their money in cash, $1mil will lose so much in just inflation alone(even before the recession) and "savings" accounts lose money too.
Yea that’s not how it works. That’s like saying Elon isn’t a billionaire until he sells his companies. Maybe you think you can’t use the money that is invested but this is also technically not true because you can use your investments to qualify for a loan. Granted a bank probably won’t lend you money if your assets are all tied into doge but still they definitely could.
Actually people are declared millionaires all the time based on the assets they hold. If that isn’t true then Elon Musk isn’t the richest man on the Forbes list 🤷♂️
@@rudyorejel9723 perhaps it may but with an unlimited supply coin it is doubtful. But honestly, I hope it does. I feel sad for the guy.... I never thought it would hit 70 cents but it proved me wrong there... Maybe it will again. I sold mine at the almost top and got out.
True but they probably told him that at 500k, 1M, 2M and he proved them wrong. But at some point you have to realize it's going to tap out somewhere and eventually you do have to pull it out 😅
Fr though, what an absolute mook. Anybody with a brain who's had that level of luck would've sold, especially for a meme cryptocurrency like Doge coin.
"investment". No assets, its a pure speculative market. He was investing in other people being as bad at "investing" as he was, and the gamble paid off, but since he was bad at investing he didn't know when to sell.
This is like that scene in Breaking Bad where Jesse is upset because he feels like he's not getting enough money from his deal with Gus Fring, and then Walter says, "We just became millionaires overnight, and you're complaining?"
what business are we in the meth business or the money businesss? walter wants his "product" to BE the business . as he regrets selling his percentage of that company from his early days/ Jesse is in it for money and tries to convince Walt, to sell/
@@andrewevans7992 investing into the S&P 500 is hardly gambling when it’s basically a guarantee return. If you lose significantly on the S&P 500, there are bigger concerns than your investments since it would mean the US economy collapsed
@andrewevans7992 No, if you've invested in the S&P500 since inception you will have never lost. You only lose money if the market crashes right when you pull out and it still won't be lower than when you put the money in 65 years ago.
@@TimesUhave2BA_radicalintellectgreed. Disgusting loathsome greed. You'd still be up, big time up and theoretically not need to work. Half of something is better than all of nothing. A bird in the hand is worth two in the hand. If you hate someone for offering you decent advice for your own protection there is something seriously wrong with you. Don't forget you still choose to take the advice or not. I hope that you are very young and learn quickly. The only other opions for that type of thinking are very negative.
I watched that interview. They're really downplaying how hard they tried to convince him to sell. That's a lot of regret to carry for the rest of your life.
I didn’t spend a cent on doge and made $86K. Literally mined it as a joke back when BTC was $200… I still have 2.something BTC on a hard drive my mother refuses to give me until I graduate college.. but that’s forever from now…
See the idea of a "doge community" is the problem. Who cares about the community, its there to make money. What did he get for his love of the community? A 3 million dollar loss. Deserves it for being silly.
THIS!!! Only greed makes you feel bad about taking profit and points to how much more you could have made… just to convince you to mess up later by not taking profit cause “it will make more”.
@@Brismo7 If he bough $1,000 at $0.1 and sold at $1, he still would have made 10 grand. Or he could have sold just a third or a half and kept the rest as assured profit.
If you ask an AI program to compile a collage of pictures of what it looks like to hold a shitcoin until you're broke, that dude's face would be the only picture in the collage.
@@craigrison007 I mean, sure, unless you literally put $150,000+ into it and bank your entire life on that... haha that's so funny and not stupid and a way to LITERALLY ruin your life.... haha
@@Llew70 yeah, but the kind of person that would invest everything he has + max out his creditcards to invest in dogecoin (or any other investment for that matter) is the kind of person who is not going to cash out, because what if it goes up more, investing more then you can afford to lose is a huge red flag that you are not to be trusted with making any financial decisions
@@originalkhawkI mean I can see some people playing on a dumb stroke of luck. I did something like this, I needed money BAD. And I mean BAD BAD. Not going to specify but I didn’t have enough money to pay for something so I went to the casino and gambled the $500 I had. I swear that the lord was on my shoulder that day because I ended up with $2k and IMMEDIATELY cashed out. I understood that it was a very, very dumb decision but I knew when to use my luck, and when to stop. I haven’t gambled since.
Seriously. Its one thing to regret not putting money here or there.. or to regret not buying more.. But actually having it & losing it is brutal. Thats why its always these same mopey clowns too dumb for their own good. (Which is how they get lucky to begin with). They gamble all their money in a single meme stock, & actually get lucky. But they lose it all due to incompetence lmao.
Yeah, portofolio management is key. He could have diversified, paid off his debt and still have that money today. If not more. Same with people that held hella LUNA bags when it went to 0 overnight.
My Doge went up to 800k from 30grand in. Then it went down to 400k and I sold. Bought a Tesla. Paid all taxes and have cash in the bank. All round it was a good experience. People always think what if, what if I'd sold at 800k etc but you don't lose money if you take a profit. I was going to sell at 150k but rode it out longer and ended up with much more. Hindsight is great but who knows it 'could' have gone higher. But, always take a profit.
At least you didn't use credit to leverage your position. Imagine having reached over a million and not thinking about selling at least some of your bag... greed makes people irrational.
The best thing about struggling to make money is your get wisdom along the way. When make money the easy way, you don't really understand the value of it.
It’s really a fascinating thing. You have all these professors and market experts that continue to spread the myth of ‘efficient market hypotheses’. When we can all recognize that markets are ultimately made of individual buyers and sellers, and those buyers and sellers have emotions. These ‘professionals’ and ‘experts’ always overreact to good news and start bidding higher, they also overreact to bad news and start asking lower
I am still confused and curious on what he was hoping for by holding on for it to rise because at that point not having to work a day in your life living debt free and having millions of dollars worth of both assets and hard cash to leave to your descendents seems like all you would ever need and holding on hoping to squeeze some more just sounds stupid and an act of pride I feel more so than greed
@@erxfav3197 Greed, I kept thinking it was going to go higher even though the asset was clearly overpriced. As it started to drop I thought it was going to come back but it didn't. In that particular trade I went from 28k to 78k and down to 32k . At $50k it was clear that the position was overpriced but I stayed hoping for more
There is a very similar saying that goes: "Bulls make money. Bears make money. Pigs get slaughtered." Shoutout to you grandpa for telling you that advice.
I just shed a tear of joy everytime someone does something incredibly stupid, gets rewarded for it and then does something even worse that is so dumb that it actually starts to hurt my brain and then loses everything. He got rewarded for gambling his last penny and then someone actually set him down and explained in detail why and how he will be set up for life if he just does the logical thing and he STILL did not manage to activate his brain.
@@duyvan247 You say this in hindsight, you could easily flip this scenario to where he sold at 25k and it rose to 300k a week later, "If only he had a bit more patience". You will regret the decision just the same, It's all gambling at the end of the day.
@@E_D___ Mom is calling you to say: if your friend is going to jump from a bridge would you do the same? Well that teach critical thinking, if someone say something to you you have to decide, you're +18 not a minor to blame somone or your friend the responsibility, learn something from it
