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My Most Shitty Investments Challenge #1 : Turned to ZERO

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@simplifylife
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This is my entry to @trumpman's My Most Shitty Investments Challenge


I have made some pretty bad investments in crypto in my early days. One of the main reasons being, of the people I knew in real life, no one knew jack-squat about cryptocurrency. When I first started researching into cryptocurrencies, I didn't know anyone online as well who I could say, alright this is someone I can trust and take his two cents with a grain of salt. So most of my crypto investments at the beginning were some very ill-advised decisions.


But of all the shit I invested, one stands higher than any other! So high that, when I was asked one day about it in the Neoxian city discord, I felt ashamed to name it LOL!

Onecoin!

There you go! I named it, boo!

I don't know where to begin describing why it is so shit. How about, this is a coin that has been around for 6 years and has not been listed on an exchange, ever! They've promised a date for exchange listing and then delayed it at least 4-5 times per year since 2016!


This is a token that has ZERO value. Even if i lost 99.99 percent on an investment of my close to $1000, I'd still have 1 cent left. With Onecoin I have ZERO cents left of what I invested.


Oh, the founder of onecoin, Ruja Ignatova just vanished with all the money last year. (people call her Dr. Ruja, I don't have enough respect for her to call her Dr. I'd much rather call the B word, and I'm generally a very nice person)!


So how this worked was, you buy a package from them, and according to the level of the package they will "mine" specific amount of coins for you on their Imaginary Blockchain, the existence of which will not be discovered by Historians of the 22nd century!


So why was I this stupid? Well, lack of knowledge! Soon after I had already invested in it, I found out about the Steem blockchain and the steemit platform, where there were actual crypto enthusiasts with proper knowledge of how this space works. I kept talking to a lot of them on their posts, on discord. And the more I learned about crypto, the more I began to realize what a big Ponzi Scheme I had stepped into with Onecoin. Yeah, it was textbook Ponzi scheme, something I wasn't too aware of in my younger years.


I don't consider this to be my shittiest investment because of the amount of money I lost. I've lost more on other projects, which at least had a project. People always loose a lot more money that what I did on onecoin. I consider this the shittiest because the I failed to see through the sheer amount of bullshit they used to say to their customers. Even at an imaginary level, the only use of their coin they could tell us was, It will replace Bitcoin. LMAO! I wasn't knowledgeable enough to look for value of the coin in terms of what usage it provides, what problem it solves.


The only problem Onecoin seemed to solve was.....nothing!

Well, lessons learned from mistakes! Moving on!


I'd like to invite @reazuliqbal to share his shittiest investment, but writing is like moving mountains for Reaz bhai! So I'll spare him the trouble and invite @rehan12 to share his ;) You know why I'm tagging you LMAO! I'd also like to hear what @raymondspeaks and @taskmaster4450 consider their shittiest investments to be!


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Until Next Time!

Peace!

Posted Using LeoFinance