Home

‘They couldn’t even scream any more. They were just sobbing’: the amateur investors ruined by the crypto crash

Leave a comment

Click the link below the picture

.

In the gloom of an 18th-century drawing room at the private rehab clinic Castle Craig, near Peebles in the Scottish Borders, Roy, a 29-year-old victim of the global cryptocurrency crash, tells me his story. It is a dazzling summer’s day, but here the mood is somber. Roy shifts uncomfortably in his chair as he begins.

It all started in February 2021, with a radio advert for Dogecoin, a cryptocurrency promoted by Elon Musk, the founder of Tesla. Intrigued, Roy started Googling, eventually using his credit card to make an initial investment of €2,500 (£2,200) in a range of cryptocurrencies. The value of Roy’s portfolio climbed to €8,000, then €100,000, then €525,000. Roy had entered the market during an adrenalized bull run, meaning an extended period of price growth. A combination of Covid stimulus packages, low-interest rates, and an unprecedented level of enthusiasm for cryptocurrency among furloughed workers meant the bull was careering out of sight.

Roy started spending all his time watching YouTube videos and speaking to other cryptocurrency enthusiasts in private groups on the messaging app Telegram. He had been treated for cocaine and alcohol addiction twice, but by 2021 he was sober and working as an addiction counselor, although he was on sick leave as a result of panic attacks brought on by childhood trauma. He soon relapsed. By day, he checked his cryptocurrency wallets every 10 seconds; by night, he set alarms to go off on the hour. He began fantasizing about a life free of financial constraints, in which he would never have to work. “I thought I was on top of the world,” Roy says. “Nobody could tell me anything. Money would fix every single problem I faced from now on.”

.

https://i.guim.co.uk/img/media/aa704d05ed2374c8fefffb603b9508cb722378f9/41_0_3148_1889/master/3148.jpg?width=1300&quality=85&fit=max&s=61d5ec1def683a5879346a7a5d652adf‘You fall into this La-La land of thinking: I’m going to make it.’ Illustration: Scott Balmer/The Guardian

.

.

Click the link below for the article:

https://www.theguardian.com/technology/2022/jul/12/they-couldnt-even-scream-any-more-they-were-just-sobbing-the-amateur-investors-ruined-by-the-crypto-crash?utm_source=pocket_discover

.

__________________________________________

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.

ASSHOLES WATCHING MOVIES

Our opinions don't stink!

Professional Hacker To Hire

Professional Hacker For Hire, Hire a Hacker, Hire WhatsApp Hacker, Facebook Hacker, Hire Snapchat Hacker, Hire Phone Hacker, Hire Email Hacker, social media, mobile phones among others

Krater Café

Words and Images by Richard Reeve

Mi-Body Health

Reliable Health and Medical information source

The Risell Chronicle

Poems by Dany D Risell

𝗦𝗺𝗶𝗹𝗲, 𝗜𝘁𝘀 𝗙𝗿𝗲𝗲 𝗧𝗵𝗲𝗿𝗮𝗽𝘆

Smile, it is the key that fits the lock of everybody’s heart.”

CRECER CON UNO MISMO

Tu sitio web favorito para temas financieros y de desarrollo personal. ¿Te lo vas a perder?

Hindu Tantra mantra For Love Back - Lost Love back - Ex Love back

Get Your Love Back - Lost Love back - Ex Love back by Hindu Tantra mantra.

Kiran ✨

Reading And Writing is the best Investment of Time ✨ ( Motivational Thoughts) "LIFE IS A JOURNEY"

antonio75

Si va avanti per resistere contro tutti e tutto

alexandr110875

Снисходительны друг к другу, что означает счастливы. Хранить мир, из которого любовь не уходит, на земле можно только так. святой.сайт

Cebu Women Official Blog

Meet and Date Single Philippine Women from Cebu City

Find A Way by JWP

Find daily inspiration in decor style creativity

skyenatureblog

Love Skye - Love Nature - Love Life

El Blog de Wim

Minimalista y Esotérico

Dan's Food Blog

I'm Dan, a mad scientist in the kitchen.

Economics and Finance 101

Sharing Economics and Finance With You

Agayana

Tek ve Yek

piinkdiiva.wordpress.com/

Where Real World Topics & Discussion Takes Place

Printer Driver

Download Software Driver

saveyourmarriage

You Can save your marriage with the right knowledge

Keyfortech

Technology for life

PLGRAPHY

AMAZING PHOTOS

Ash radiance♡

Creating the life I love!..😇

IJ Printer

All about printer

Musings

Just expressing.....

Oh my bridge

"Il bridge è come il sesso: se non hai un buon partner, meglio che tu abbia una buona mano."

The sense

"L'amore non conosce barriere. Salta ostacoli, oltrepassa recinzioni, attraversa pareti per arrivare alla sua destinazione, pieno di speranza." - Maya Angelou

darkblack78

Siyah neden gökkuşağında olmak istesin ki gece tamamıyla ona aittken 💫

M.A aka Hellion's BookNook

Interviews, reviews, marketing for writers and artists across the globe

Still normal.

Ups and down everyday, let us make dailyliving normal.

Zsolt Zsemba

Take a deep breath and open your mind....

Sharpshot Nature .Com

- Specializing in the great outdoors, capturing nature at it's finest!

amiviku

Analyse own life

Autoimmune-ptsd-stress-anxiety-depression-fibromyalgia-ms-wellbeing-natural-sleep..

Autism-spectrum-disorder, posttraumatic stress disorder.. autoimmune.

techclanz

technology for innovators

%d bloggers like this: