The Brutal Reality of Crypto Investors Losses and Laughing at Others’ Misfortunates
Crypto Losses Means Laughing at Others’ Misfortunate Says One Report
News.Bitcoin.com recently shared a report in which it believes that more and more investors are laughing at the misfortunate of others who’ve invested and have incurred at least 95 percent in losses due to poor choices. Many of the preferred platforms to share, voice or vent one’s feelings of the current stance of the market typically include Telegram and Twitter.
A Twitter page, dubbed, “Rekt Plebs”, was shared in the post which shows a wide range of comments made by crypto investors who’ve openly voiced their miseries. In other words, one can view this page as being similar to memes, which makes it all the more humorous.
For instance, one Rekt Plebs user shared via the telegram, “My all coins are 4 times lower from my buying price.” Another said, “Is there evidence that if I just don’t look at it [crypto holdings] again for the next year I’ll do ok? I’m so stupid.”
Many crypto investors have continuously expressed that the way in which the crypto sphere is perceived has changed since its origin. Today, cryptocurrencies have been associated with high returns on investment, profit, buying Lamborghinis, etc. However, the case made here indicates that buying low and selling high was never the goal, but rather to support a project one feels can bring real life uses and will strive.
An example of this shared by news.Bitcoin.com is that of a tweet posted by XRP News, which reads, “Stop watching the #XRP price, if you believe in it. Buy more cuz it’s the last time in your entire life you gonna see #XRP less than 1 dollar […] the price doesn’t matter.”
Shilling is another factor that has influenced the rate at which investors have incurred losses. Shilling is an event in which an individual or a group hypes a particular coin. This is typically done to get more crypto fanatics to invest in the project and its respective coin to increase its value. Many of the projects in the crypto sphere today have failed or only seen short-term gains because of shilling.
Investing for the purpose of making profits is a reasonable desire, however, it should never be the only purpose. Instead of trying to buy low and making any possible profit and joining groups that shill coins with no particular reason, it is best to do the necessary research to see whether the project can benefit society and induce use cases.
Do you think investors, like the reporting indicates, are simply sharing their stories to get laughed at? Is this a sign of hopelessness on behalf of crypto investors? Share below.