1/ So here is a thread on how I turned $32,000 into $1.2m and back to pretty much zero (once taxes are paid).

Just note, I am not bitter or salty in any way at all, the last 2 years have been an amazing ride - travelled the world, been wealthy, been poor.

2/ Dec '16, my advertising agency folded, I had a little bit of money left and I put $32k into Bitcoin and Ether. As it started to go up I diversified into everything, Monero, Dash, this that, any crap - even Ripplecoin. Everything just kept going up.
3/ By March I think I had around $300k and $500k by the summer. I used to take 25% out but towards the end of the summer I got greedy and put it all back in and by December it was $1.2m.
4/ Thinking I was an absolute genius I decided to start a bunch of businesses. As silly as it sounds I had this goal of making $5m as I wanted to buy Bedford Town Football Club and get them in the league, and as Crypto was going up forever I needed 6 months.
5/ So:
- Trading (income 1)
- Podcast (income 2)
- Mining (income 3)
- Mining pool (income 4)
- Consulting (income 5)

Yes - all of the above as a one-man army :)
6/ As the market started to crash I just ignored it, kept thinking it would come back, it crashed like 4 times in 2017. But it didn't.

Mining is what busted me most:
- 70 S9s
- 70 DragonMints

The above with setup was like $300k.
7/ Mining made money for one month, broke even for a month and has consistently lost since. Problem is I have been stuck in data centre contracts paying a fixed 18 cents fee.

Each month digging into my BTC to pay the bills. Finally paying $19k to release from the contract.
8/ Mining is still losing money but not as much. I am though so close to liquidating it and accepting it as a failure (which will probably be the bottom).

Basically paying losses each month with a slowly dwindling balance of BTC.
9/ At my peak I had around 150BTC but trading shit coins I was losing BTC while gaining $. When I finally realised this I was down to around 80BTC. But this has been dropping in value as some of the coins I have been holding have collapsed.
10/ So basically greed and over ambition have destroyed what could have been life-changing money. After I pay my tax bill pretty much all is gone.

The good news - I have the podcast which is now generating an income, something a little more reliable
11/ I have sold most of the remaining BTC as an insurance for if the podcast has a bad month. I'm a Dad and I have to be responsible for my children.

I don't want any donations or sympathy. Sure I regret stuff but I am happy with how it has all played out.
12/ If there is another bull run and you make a bunch of cash then remember to take profits. Don't overstretch yourself.

People say don't invest what you can't afford to lose, well don't keep in Crypto profits which will change your life.
13/ Anyway, anyone who says I am trying to pump my bags with BTC, well those bags are tiny. BTC could go to $100k and my life won't materially change.

It is one of the reasons I have sympathy for maximalism, all these tokens and coins really are silly.
14/ I am sure I am not the only one with a story like this. If you want to do anything, just support the podcast, even a review on iTunes helps. That is my entire focus now.

Viva la Bitcoin!
Edit: forgot one thing. Conserving capital is so important. When my balance was high I went crazy: new clothes, first class flights, giving money away to family, charity, laughed at $25k lost on Confido... the list is endless :)
Edit 2: If you are not cut out for trading (like me), I wrote a thread on tools which can help you create your own business or a side gig.
https://t.co/svz7sQS9Yy
Edit 3 (last one): a few DMs creeping in with people in similar positions. All I will say is that in the last 5 years I have lost a marriage (after 3 months), lost my Mum (cancer) and nearly died from a drug overdose. Rich or broke, the money made little difference to happiness.

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I’m torn on how to approach the idea of luck. I’m the first to admit that I am one of the luckiest people on the planet. To be born into a prosperous American family in 1960 with smart parents is to start life on third base. The odds against my very existence are astronomical.


I’ve always felt that the luckiest people I know had a talent for recognizing circumstances, not of their own making, that were conducive to a favorable outcome and their ability to quickly take advantage of them.

In other words, dumb luck was just that, it required no awareness on the person’s part, whereas “smart” luck involved awareness followed by action before the circumstances changed.

So, was I “lucky” to be born when I was—nothing I had any control over—and that I came of age just as huge databases and computers were advancing to the point where I could use those tools to write “What Works on Wall Street?” Absolutely.

Was I lucky to start my stock market investments near the peak of interest rates which allowed me to spend the majority of my adult life in a falling rate environment? Yup.
Recently, the @CNIL issued a decision regarding the GDPR compliance of an unknown French adtech company named "Vectaury". It may seem like small fry, but the decision has potential wide-ranging impacts for Google, the IAB framework, and today's adtech. It's thread time! 👇

It's all in French, but if you're up for it you can read:
• Their blog post (lacks the most interesting details):
https://t.co/PHkDcOT1hy
• Their high-level legal decision: https://t.co/hwpiEvjodt
• The full notification: https://t.co/QQB7rfynha

I've read it so you needn't!

Vectaury was collecting geolocation data in order to create profiles (eg. people who often go to this or that type of shop) so as to power ad targeting. They operate through embedded SDKs and ad bidding, making them invisible to users.

The @CNIL notes that profiling based off of geolocation presents particular risks since it reveals people's movements and habits. As risky, the processing requires consent — this will be the heart of their assessment.

Interesting point: they justify the decision in part because of how many people COULD be targeted in this way (rather than how many have — though they note that too). Because it's on a phone, and many have phones, it is considered large-scale processing no matter what.