Yesterday afternoon the Hodl Insider met with a chap whose tragic story sounds like so many we’ve heard the past month. “Gary” (who asked that his real name not be printed, to protect him from potential snarky sneers by his wife of two years who had been hoping for a $5000 trip to the Bahamas for their anniversary) sat down with Hodl Insider to recount his woeful tale.
His account is as follows,
End of last year I started dabbling in crypto coins but I was a bit leery of it, from all the bad press it gets on the major news networks. After making a couple purchases on Coinbase, on January 1st, New Years Day, I was sitting in front of my tablet with football games on in the background, and somehow or another I stumbled across a small post about Tron Coin (TRX), I honestly don’t even remember whether it was a Reddit post or some other forum, but I figured what the hell, why don’t I go for it! So I bought a thousand dollars worth of ETH via Coinbase, then I transferred it to my exchange account, and less than an hour later I had purchased roughly 20,000 coins at 6 or 7 cents each. You can imagine how freaked out I was a couple mornings later when TRX started shooting for the moon. By the next day the price of TRX was climbing like crazy it was up to .20 I think, and my account was looking incredible.
I kept wondering, Should I Sell? Should I Sell? My account was up to like four or five thousand, and I didn’t know what to do.
On January 4th I clicked open my account and I was at $6150; up more than five thousand from my initial purchase!
For some reason I got the number 10 thousand in my head, why; I can’t say. But it just kept running through my mind, ‘hodl till it the account hits 10k’.
Well, as I’m sure the reader knows, Gary’s account never hit 10 k.
After January 4th TRX started dropping, there was a small spike in the midst of the drop, but it never recovered. Toward the tail end of the month I realized the rush was gone and I had missed it, I eventually sold all my TRX coins for 6 cents a piece, I made $200 which I shouldn’t be upset about. But I sat staring at more than 5 grand worth of profit and it slipped right through my hands.
I know that ultimately I am the one to blame for my mistake, but it all happened so fast, I just wasn’t prepared to make such split decisions.
Gary’s story should be a lesson for all; never turn down a profit, because in the crypto currency world everything can turn on a dime.
(image courtesy of Pixabay.com)
Hodl insider 