BC LIFE
Saved by @zmbnski

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.

More from Life

Quinn Cummings
Quinn Cummings
@quinncy
Gather round, Gentle Readers. It is time I tell the story of the worst decision I ever made in an office. Some of you have heard this. Some have not. Whatever you do in your office today, this week, the rest of this year, you can console yourself by recalling this tale.

A long time ago, I was a talent agent. I worked for a woman named Susan Smith, who had her own small boutique agency. She was known for three things:

1. She had fantastic taste in clients. If there is someone you admire, odds are good that at some point, she was their agent,

2. She could negotiate a deal like few who have ever trod the earth. Casting would give her all the money they had budgeted for that part, plus a little more, plus promising to get her dog Barnaby groomed. She was magnificent to watch.

3. She was insane.

I'm sure you're thinking, "Quinn, it's the entertainment industry, they are all insane." Yes, many are. So consider this; if you told someone you worked for Susan, people who worked for insane people would look and you and whisper, "I hear she's insane."
LIFE
\u1d1c\u0274\u1d0d\u1d0f\u1d05\u1d07\u0280\u0274
ᴜɴᴍᴏᴅᴇʀɴ...
@UnmodernM
Stop reacting & start responding.

Here’s how you speak slowly.

Shadow Integration method.

Thread

One quality that separates a man from children is how he responds to interactions.

Any time someone interacts with you, you have two choices; you can either react, or you can respond.

A response is a thought out reply.

A reaction is emotional.

A reaction is urge driven. Its when you instantly reply without thinking.

Its very easy to identify those who are impulsive simply by looking at this trait.

Its a trait that frames you to be weak through several subliminal effects.

If you react, you communicate that you have no urge control and that you act on emotions.

This assumes you to be unreliable & not dependable.

Whether you like it or not, high-end professional people will notice these small details in your behaviour.

A dead give away of a reactive man is when he talks fast.

Talking fast shows that you dont think & operate on other people's time while not respecting your own.

It also makes the credibility of your dialogue shaky at best.

Because it indicates no thought was provided.
LIFE
Advertisement
Corey Gwin
Corey Gwin
@corey_gwin
It doesn't happen because you want it to happen.

It doesn't happen because you made it happen.

It happens because you allow it to happen.

https://t.co/j5hPyw9m9m
LIFE
Olaleye oluwafemi spreading
Olaleye oluwafemi spre...
@pfemiolaleye
10 Red flags to note in relationships .

A thread !

1. Secrecy - There is a difference between being private and being secretive . Anyone who doesn’t want people to know you are dating may have somethings they are hiding . It’s ok to be private but alarm bells should ring where there is secrecy .

2. Barter - The relationship is almost always about what is being exchanged . While there will be exchanges in every relationship, an undue focus on this will indicate that someone is there for something they can get and not what they can give .

3. Misaligned values - What is sacred to you isn’t respected by the other .values like honesty , integrity , respect isn’t important to the other party . A relationship with nonaligned values cannot work ! There will always be conflict .

4. Mystery income - Some folks are dating thieves , robbers and fraudsters and always have signs to indicate that their partners are fraudulent. It is a huge red flag not to know what your other half actually does for money . It’s not wise to join a sinking boat .
LIFE
Colin Mills
Colin Mills
@OxSoc
I want to tell you a story. It illustrates the low level, but unpleasant hassle faced by academics holding views deemed unacceptable by self-appointed defenders of public safety. I'm not going to name names. I'm not interested in facilitating a pile on. The abused is>>

robust and capable of looking after themself. I was sent a screenshot of the abuser's protected twitter narration of the incident. I've also seen it tweeted on here. I've no idea how it was leaked. I've not seen its authenticity challenged. >>

So to the tale. Dr X organizes a seminar with a symposium panel under the auspices of a Faculty in a large well known UK university. Dr Y who is a member of the university with a legitimate interest in the subject matter of the panel registers to >

attend. Y is known to hold what for sake of succinctness I'll call Gender Critical views. X notices shortly before the seminar is to begin that Y will be in attendance and goes into meltdown. Y is deemed an "anti-trans campaigner" which in the commonly accepted >>

rather than Pickwickian sense of these words is false. X contemplates a last minute cancellation of the event. Hurried discussions are held with senior faculty and eventually with the VC who insists the event must take place and Y must be allowed to attend. The event takes place>
LIFE

You May Also Like

Yascha Mounk
Yascha Mounk
@Yascha_Mounk
The elections in Bavaria show that the German political system, which has long seemed reasonably stolid, is in enormous flux at the moment.

A thread with four lessons. (Just wait till you get to Number 4! 😉)


1) Don’t let anyone fool you: The elections show that populist sentiment remains strong. The CSU ran its most hard right campaign in decades. The AfD gained ten percent. And the Free Voters are also deeply conservative, and especially critical of the government’s refugee policy.

Together, this means that strongly right-of-center parties have taken about two thirds of the vote.

Anyone who tries to sell that as a success for the liberal left is kidding themselves.

2) For a long time, it looked as though the troubles of broad social democratic parties that once commanded ~40% of the vote were sui generis.

That narrative is certainly confirmed today, with the SPD in single digits.

But...

...it now also looks as though center-right parties that once commanded ~40% of the vote will keep declining.

This is the CSU’s worst result in history. It comes at a moment when its sister party, Angela Merkel’s CDU, at 26%, polls worse than at any point since the 1950s.
ALL
katya adler
katya adler
@BBCkatyaadler
EU views PMs letter accompanying his formal #Brexit extension request - saying that he doesn’t actually want an extension- as a gimmick aimed at a domestic audience. As far as EU law is concerned: a formal request from the UK prime minister, is a formal request full stop /1

EU leaders not rushing to make decisions. Instead they watch events in Westminster carefully. If their newly negotiated #Brexit deal is approved by the majority of MPs - as the PM promised them it would be - then possibly no extension will be needed OR /2

Only a short one maybe to allow for necessary legislation to be completed. If this is the case, EU leaders won’t think twice about granting this short extension. They may even approve it by writing rather than on person at an emergency #Brexit summit. Spoiler alert../3

EU leaders - who surprise, surprise already have a thing or two planned in their diaries over next couple of weeks - have zero appetite to return to Brussels again especially for #Brexit They have no desire to be involved in the drama playing out right now in the UK BUT /4

If MPs reject the deal, if there are plans for a general election or a referendum on the deal then a longer extension will be necessary. Here it is harder for EU leaders to come to immediate consensus so an emergency summit becomes likely /5
BREXIT
Advertisement
Josh Constine
Josh Constine
@JoshConstine
Facebook lost another 1 million daily users in Europe and stayed flat in North America as scandals and low engagement with teens come back to bite its business https://t.co/O7tfyIw7Fd tip @Techmeme


Facebook still added 37M monthly & 24M daily users thanks to big gains in the Asia-Pacific region, but those users earn it 1/10th as much as US/Can users


The real story dragging on Facebook's share price is that yearly revenue growth has fallen from 59% 2 years ago to 33% today. It's run out of lucrative Western users and News Feed ad space.


Let's remember that Facebook doubled its security staff & cut back on viral videos/clickbait. That drags on its profits & revenue, but are crucial to society. And while Twitter shares soar, it has made no such commitments to fighting harassment & misinfo.
TECH
Max Fagin
Max Fagin
@MaxFagin
November is here, and that means a massive shift is coming. And by "massive" I am of course referring to the redefinition of the kilogram unit of mass that the world has been building up to for more than 100 years. Let me explain:


1/ I've had an unhealthy fascination with metrology (the study of measurement) ever since my 2nd year as a physics major when I took a class devoted to duplicating historic physics experiments, so please indulge me for going into heavy detail (get it?) about the kilogram.

2/ So what actually *defines* a unit of measurement? If you're American, you probably know a mile is 5280 feet and a foot is 12 inches and an inch is 2.54 centimeters etc. But where does this chain of definitions end? Is it turtles all the way down?

3/ It's actually not! For all units (even the imperial units used in America) the answers all end with the Système International (SI) unit definitions established and maintained for over 100 years by the Bureau International des Poids et Mesures (BIMP) in France.

4/ At the base of this tower are the SI base units. Just 7 SI base units define every other unit in existence. They are:

Kilogram, kg (mass)
Meter, m (distance)
Second, s (time)
Kelvin, K (temp)
Ampere, A (electric current)
Candela, cd (luminous intensity)
Mole, mol (quantity)
SCIENCE
Pieter Levels \u2728
Pieter Levels ✨
@levelsio
Joe Rogan's podcast is now is listened to 1.5+ billion times per year at around $50-100M/year revenue.

Independent and 100% owned by Joe, no networks, no middle men and a 100M+ people audience.

👏

https://t.co/RywAiBxA3s

Joe is the #1 / #2 podcast (depends per week) of all podcasts

120 million plays per month source https://t.co/k7L1LfDdcM


https://t.co/aGcYnVDpMu
MAKERS