My Most Shitty Investments Challenge #1: Elastos (ELA).
It was the beginning of 2018, and I just made a ~500% profit buying Ontology (ONT) at 1,43$ & selling a couple months later or so at ~7$.
I took all my profits and bought an interesting project called Elastos (ELA).
I won't spend any time trying to explain the project. I don't think it's a scam it's just that they were late to the 2017 party.
Raised a lot of funds on their ICO and released their coin at a +300% profit(50-60$/ELA) taking into consideration their ICO price (~18$/ELA).
I started doing my thing, and started loading the dips as I like to do with the projects that I like.
I bought my first bunch of ELA's at ~44$ the piece around the zone in the circle.
Long story short:
I bought a lot of dips...
From 45$... until 2-3$ where I capitulate and sold everything (yes, that's at least a ~93,33% loss).
Holy fuck. I need to show you the losses in log scale because I can't even see my shitcoins fallin' straight into 0.
That was painful as I lost almost everything. But never looked back. It wasn't really their fault (but did a few things miserably, should say). One of the, treating investors money like 'donations'.
Idiots, idiots everywhere. And I'm the first one of them :)
I always invest/gamble my own funds and I never got into serious debt to invest. I needed hard months of shitty work & return to my parent's basement to recover.
Ps. Bye bye ONT profits!
But hey, suffering that kind of pain teaches you a lot of things... so it was only 'shitty' in the financial aspect.
Looking at how things turned around. I made the correct decision. I sold and moved on with other good projects like HIVE.
Look at this shitty chart:
And I just see that they approved the burn of something like ~40% of their total supply. Good luck with that.
Hope you enjoyed my entry to the ''My Most Shitty Investments Challenge''. Thanks @trumpman for urging me to vomit haha
Nah, seriously. Good initiative :)
I would like to nominate @resiliencia, @queengaga & @santigs !
These are the rules you need to keep in mind
You have to share at least one shitty investment you have made in your life. One per post. There is no limit, share as many as you like. The more you share, the more we will laugh at your expense.
WIN - WIN.
An investment can be anything. Yeah, usually we think of stocks or crypto or financial products when thinking of investments. But we make investments, small or big, almost everyday. For example, it can be something like an expensive gym equipment you bought to get fit but never used ;)
Since this is a financial related challenge, please use https://leofinance.io to publish your post(s). Remember, this will help you get more HIVE and LEO votes. Who doesn't want more free money?
Nominate up to 3 people to participate in every of your posts If you are a social outcast with no friends to invite you, just join the fun without an invitation Use the tag "#shittyinvestments" as one of your tags for easy exposure!
Optional: Share your posts on twitter and the leofinance subreddit to help leo, and consequently HIVE grow!
Feel free to use @trumpman's original photo for your thumbnail :)
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