How much money have you lost in the crypto industry?

[Cryptsafe]

I am sure many people gained a lot worth of money while playing in this very exciting cryptocurrency industry where huge opportunities and big risks collide...sometimes doing us some favor and sometimes also taking something from us. Through the years, I have had been exposed to scams, frauds and mistakes that in retrospect could have already made me rich at least in my country's standard. In my estimated, I think I lost at least $300K mostly in terms of potential earnings primarily because I let go of my 2 Bitcoin maybe around 5 years ago and made many mistakes (including getting into bad programs and projects) that cost me good amount of coins and tokens along the way.

This is sad, hopefully you make more in the future because I'm not sure if here is really big opportunities in the future to make that kind of Bitcoin again. However, I don't know maybe not having much has always put me in tight corners and avoid this kind of big mistake. If I ever lost $300k amount of crypto, I'm not sure if I will be able to recover, it's too huge to get back to be honest.

I think we learn everyday and some people that lost money are lessons for others. I have learn to make sure that everything I do in crypto is always by me, I don't entertain third party unless when necessary which the least can only be centralized exchanges and that I'm always careful about.

Sometimes it is sad reading people's stories, as I feel sorry for their experience.  Maybe at that time, they made such mistakes, they did not have much experience of how the system works then, and possibly nobody to tell them things about the system, no good advice from anybody and they acted in a way they thought was best for them not knowing they were taking the wrong steps.

Maybe things of such nature happen for a reason as that is how I see it for other people to learn from but that does not mean the person would not see their mistake and they too would take correction and even get the ones bigger than what they had lost and know how to manage it properly when it comes their way again.

I have made mistakes too and have learned from my mistakes and also from others as well, this experience would help better to have eyes on seeing errors of that nature in the future and know how to handle them when the time comes or if there are any encounters of such nature. We just learn from every scenario and happening to be up-to-date in engagements and activities in life's journey.

[examplens]

At the end of 2017, due to a hack, I lost a total of about 8-9 BTC worth of crypto assets. Part in BTC, the rest in various altcoins. Pretty stupid of me at the time, what's worse, in those days I was planning to convert at least 50% into fiat and diversify the rest of the assets in other ways.

[Chilwell]

That must have been really tough for you. I'm so sorry you went through that. Losing a large amount of money can be devastating. However, I believe that everything happens for a reason. As the saying goes, "God doesn't take away without giving something better in return". I'm sure you've gained valuable experience from this incident, and it might have even led to something better.

As for me, I haven't had a similar experience, and I'm still new to the cryptocurrency world. I don't have a large amount to lose, but I'm learning and being cautious.

[Z-tight]

At the beginning of investing in crypto, I also lost funds due to lack of knowledge and experience at that time until I joined my friend's investment and finally failed. However, we must learn from our past failures and fix them.
Even in trading I often lose, but my wins and profits are higher than my losses

That is my point, there is nothing wrong in losing and learning from the experience, but it is better to learn from the beginning, so you would not lose funds to scammers. Take note that i am not talking about losses in trading, because that is not avoidable, i am talking about losing funds to scammers.

[Rubel007]

Before the last bull run, around 2020, many of those who were expected a lot from crypto did not get anything good because when the market was at its highest in 2021, there was more greed among investors. Even after the price of altcoins increased several times, many could not control their greed. At that time, I was also quite ambitious and could not enjoy the big profits despite getting close, which was a big lesson for me.

[Dr.Bitcoin_Strange]

That is my point, there is nothing wrong in losing and learning from the experience, but it is better to learn from the beginning, so you would not lose funds to scammers. Take note that i am not talking about losses in trading, because that is not avoidable, i am talking about losing funds to scammers.

yes, staying informed and updated is a great way to avoid being victimized by scammers but then again You need to realize that one may not always be ahead of scammers, what am I trying to say? I’m saying that, scammers are smart people that use their level of smartness to outsmart you, so for you to avoid falling into their traps means that you’re either as smart as they are or you’re smarter, and the only way to avoid being scammed is when you’re smarter than every other scammer out there and we all know that’s not possible, so regardless of how informed you are, there are still things that are beyond your knowledge and it’s possible for scammers to use these things to outsmart you and you could end up being scammed before you even realize it.

[enwi]

At the beginning of investing in crypto, I also lost funds due to lack of knowledge and experience at that time until I joined my friend's investment and finally failed. However, we must learn from our past failures and fix them.
Even in trading I often lose, but my wins and profits are higher than my losses

That is my point, there is nothing wrong in losing and learning from the experience, but it is better to learn from the beginning, so you would not lose funds to scammers. Take note that i am not talking about losses in trading, because that is not avoidable, i am talking about losing funds to scammers.

Yes, experience is one of the key factors that we apply every time to help us grow from it but if only we can get it right from the start that this mistake is going to cost us big time because of fraudulent actions. As such, we have to be specially cautious and be sure that the actions being done are produced by information that is relevant and correct at the same time. This is not only about being prepared for the risks in the activities we engage ourselves in, but also defended against wrong doers. So, being careful and not hasty we can remain intact from those turnovers which could have been avoided at all and knowing that the money is limited we can act more careful at the same time we are using the resources.

[bitcoin-shark]

Let's say that between bad investments, various scams and projects that died on their own on the one hand and some successful ICOs on the other, I'm even, I didn't gain or lose, I just wasted time, I could have done something else

[Agbe]

That is my point, there is nothing wrong in losing and learning from the experience, but it is better to learn from the beginning, so you would not lose funds to scammers. Take note that i am not talking about losses in trading, because that is not avoidable, i am talking about losing funds to scammers.

yes, staying informed and updated is a great way to avoid being victimized by scammers but then again You need to realize that one may not always be ahead of scammers, what am I trying to say? I’m saying that, scammers are smart people that use their level of smartness to outsmart you, so for you to avoid falling into their traps means that you’re either as smart as they are or you’re smarter, and the only way to avoid being scammed is when you’re smarter than every other scammer out there and we all know that’s not possible, so regardless of how informed you are, there are still things that are beyond your knowledge and it’s possible for scammers to use these things to outsmart you and you could end up being scammed before you even realize it.

Staying informed with recent information is good as it will help you to be informed about latest information concerning crypto currency so it will help you in making decisions concerning crypto currency but one thing with scammers is that they are always one step ahead of others these scammers have a way of deceiving people with stories that are too good to believe with the intent of them making money so people will easily fall into their traps because of the kind of illusive money that they promise people but one thing about life is that you have to fail some times fo you to learn it the hard way as many people who are doing well in the crypto community has once fallen victim to scam

[Dr.Bitcoin_Strange]

Staying informed with recent information is good as it will help you to be informed about latest information concerning crypto currency so it will help you in making decisions concerning crypto currency but one thing with scammers is that they are always one step ahead of others these scammers have a way of deceiving people with stories that are too good to believe with the intent of them making money so people will easily fall into their traps because of the kind of illusive money that they promise people but one thing about life is that you have to fail some times fo you to learn it the hard way as many people who are doing well in the crypto community has once fallen victim to scam

That’s true! But then again, one way to identify a scammer’s story is that, it’s always too good to be true, and they’re often sweet talkers. So the major reasons why most people end up falling for their scams is that they’re either too greedy or too naive, and not really because the scammers are way too smart. If only one could take away greed and then learn to conduct extensive researches to confirm the authenticity of the offer before throwing their money, then maybe they’ll also be a step or two ahead of the scammers and then they’ll look rather stupid than smart.

[milewilda]

Staying informed with recent information is good as it will help you to be informed about latest information concerning crypto currency so it will help you in making decisions concerning crypto currency but one thing with scammers is that they are always one step ahead of others these scammers have a way of deceiving people with stories that are too good to believe with the intent of them making money so people will easily fall into their traps because of the kind of illusive money that they promise people but one thing about life is that you have to fail some times fo you to learn it the hard way as many people who are doing well in the crypto community has once fallen victim to scam

That’s true! But then again, one way to identify a scammer’s story is that, it’s always too good to be true, and they’re often sweet talkers. So the major reasons why most people end up falling for their scams is that they’re either too greedy or too naive, and not really because the scammers are way too smart. If only one could take away greed and then learn to conduct extensive researches to confirm the authenticity of the offer before throwing their money, then maybe they’ll also be a step or two ahead of the scammers and then they’ll look rather stupid than smart.

When your greed level is on the rooftop then you would definitely making yourself that dumb and naive even if the scheme is already that too obvious but still you do believe that it could make you money. The golden rule is that whenever you do see something which is too good to be true, then its definitely a scam. This is really just that a very basic principles in life or something that you do put up into your mind but there are still tons of people who do failed up on having this kind of thinking and this is where regret do really comes into the end.

[Dr.Bitcoin_Strange]

When your greed level is on the rooftop then you would definitely making yourself that dumb and naive even if the scheme is already that too obvious but still you do believe that it could make you money. The golden rule is that whenever you do see something which is too good to be true, then its definitely a scam. This is really just that a very basic principles in life or something that you do put up into your mind but there are still tons of people who do failed up on having this kind of thinking and this is where regret do really comes into the end.

Yeah! But then again, I’ve come to understand that most of the people who end up falling for these schemes are those who either do not know much or do not know anything at all about the crypto or investment environment. There are actually those who have the money and the seek to invest but do not actually have a clue on how to go about it, so if such a person happen to bump into such scammers, then they could be easily lured into investing their money into a non profitable venture that’ll make all their money disappear rather than giving them the profits they desire.

[dave_strider]

Let's say that between bad investments, various scams and projects that died on their own on the one hand and some successful ICOs on the other, I'm even, I didn't gain or lose, I just wasted time, I could have done something else

You got it, the experience from such projects, and that is what matters most.
Now you can gain more value going forward, knowing fully well how projects similar to what you've seen may end up.

[Cryptsafe]

At the end of 2017, due to a hack, I lost a total of about 8-9 BTC worth of crypto assets. Part in BTC, the rest in various altcoins. Pretty stupid of me at the time, what's worse, in those days I was planning to convert at least 50% into fiat and diversify the rest of the assets in other ways.

So sorry about your experience, that volume means a lot in dollar value currently and that would have gone a long way to set up more investments and also take good care of other needs. I have a friend who lost a good amount of BTC back then and it was reasonable enough to start up a business venture which he was planning to do but the unfortunate happened. I had a similar experience too back then and it was a very terrible experience because I was planning to invest in it but this was done to me by someone close which I knew but I had no evidence so I just let the matter fade away although it was not in btc then but a token via a website which could be used on the platform for purchase of items but it could be sold via p2p. Till this moment I have not been able to recover that account and the email linked to that account is not accessible to me so everything about the account and email all gone. It was a very frustrating one that moment as that was my hope that period but there was nothing I could do then as I had to start all over again.

[dekafee79]

Staying informed with recent information is good as it will help you to be informed about latest information concerning crypto currency so it will help you in making decisions concerning crypto currency but one thing with scammers is that they are always one step ahead of others these scammers have a way of deceiving people with stories that are too good to believe with the intent of them making money so people will easily fall into their traps because of the kind of illusive money that they promise people but one thing about life is that you have to fail some times fo you to learn it the hard way as many people who are doing well in the crypto community has once fallen victim to scam

That’s true! But then again, one way to identify a scammer’s story is that, it’s always too good to be true, and they’re often sweet talkers. So the major reasons why most people end up falling for their scams is that they’re either too greedy or too naive, and not really because the scammers are way too smart. If only one could take away greed and then learn to conduct extensive researches to confirm the authenticity of the offer before throwing their money, then maybe they’ll also be a step or two ahead of the scammers and then they’ll look rather stupid than smart.

When your greed level is on the rooftop then you would definitely making yourself that dumb and naive even if the scheme is already that too obvious but still you do believe that it could make you money. The golden rule is that whenever you do see something which is too good to be true, then its definitely a scam. This is really just that a very basic principles in life or something that you do put up into your mind but there are still tons of people who do failed up on having this kind of thinking and this is where regret do really comes into the end.

many people are trapped in greed, making them lose the opportunity to gain profit.
when seeing the crypto market that has a positive trend, I also sometimes have emotions like that, and it really makes me not focus on the initial plan.