yego.me
💡 Stop wasting time. Read Youtube instead of watch. Download Chrome Extension

i just lost everything in crypto


4m read
·Nov 7, 2024

And there's no easy way to say this but, you know, I vote. I've always been honest with this channel. I've always been pretty upfront with everything. Wow, I didn't expect to be this nervous about discussing this. I've actually probably actually pretty nervous. Oh my god, I mean, I definitely messed up here pretty badly and haven't been entirely honest with everybody lately.

Since like really since kind of like December, do you know? Since then, I've just been putting on a front here and just I think it's time I let you guys know what's kind of going on behind the scenes here. But I made a video a while ago that I bought Bitcoin when it was at 17-thousand and, you know, in that video, I just kind of mentioned that I had bought what I could afford to lose and that it wasn't a big deal. That's kind of the point where I kind of went wrong.

I had someone I trusted who was deeply involved with cryptocurrency who was telling me, was assuring me that he knew that this was going to be going up in price and was going to be hitting about 25,000. We were at a point then where I just got wildly excited about it. I kind of let myself—I lost track of my judgment at that point and I mortgaged everything that I had. So stupid! I took a loan out on every single one of my five properties, but I maxed that out and then was able to get some further loans through my bank and they put it all in Bitcoin.

And it was—I honestly thought that I were gonna ride the wave up to me. He was gonna hit 20,000, and it did. Then I thought it was gonna hit, you know, 24, and then 24 I would sell it and then pay back everything. That was my plan! When it dropped, I really felt like, you know, it was gonna recover; it was gonna be fine. It was a short-term hiccup, but it just kept going down.

Then it kept going down, and in the back of my mind, I really believed that it was just going to be going back up. It didn't! And, you know, I took out more money than I was really comfortable with, and the payments were pretty high. But I had enough that I could be making these payments, you know? My thought was I can make these payments on the loans on my properties long enough for Bitcoin to recover.

Then I thought as soon as it hits the same point that I bought at, I'm gonna sell it all and then just walk away and just be even, and that would be fine. That I could pay everything back! But it kept going down, and when it hit about 6,700, I thought, you know, I should just sell. Stupid!

Because it hit sixty-seven hundred, and then it went back up to about eight thousand. But I was—you know, I got what I could, but at that point, it wasn't enough to pay back what I owed. I lost almost 70 percent of my investment! So I put it all in Tron, which I thought at the time was undervalued. That was about seven cents when I bought Tron, and I just sold that this morning for three cents.

So, you know, wow! You know, the thing is Dave Ramsey is right. I mean, there's no such thing as good debt! I was under the impression that you could leverage your money and make more money, but Dave is right. I mean, there's totally right! I mean, there's no such thing as good debt. You know, we should always buy things in cash.

You shouldn't use credit cards! No, I put everything on credit cards because I, you know, couldn't really pay for anything else. So it's credit cards all maxed out—like a hundred ten thousand dollars of credit—it's all maxed out now. So, you know, the thing is, I've made money before and I'll make it all back, but I have to, you know, I'm selling off everything that I have and I don't think that's gonna be enough to pay off what I owe.

So I might need to look into, you know, filing bankruptcy and just starting over. You know, I won't be able to buy real estate for another seven years just because, you know, my credit would be shot. But I don't really have any other choice! You know, I wish—I wish I had a lesson here. Just, I guess the only lesson here is April Fool's! You guys, I had to—I had to! I realized it was April Fool's this morning and I was like, oh my god, should I do a video? Should I do something like this last minute? I'm just like, yes, I should!

I hope you guys—I hope you guys got onto the joke early on. I'm sorry, I just— it was April Fool's! I had never done an April Fool's video before; I had to do it. No, I did not go bankrupt! Fine, Bitcoin and leveraging everything—by the way, I haven't owned Bitcoin, by the way, since December. So, you know, take that for what it's worth. Just, just—I’m totally kidding! All of this, I had to hope I pranked you guys good.

We'll be back with the regular videos tomorrow, and I had to do this April Fool's. You know, there we go! Hope I got you! Got—if I got you guys, hit the like button! Hit the like button if I got you! And yeah, I wish I had more to say other than that, but I'm just kidding.

Happy Easter for everyone that celebrates Easter, and I will see you guys back at it with a new video tomorrow!

More Articles

View All
How The Ultra Rich Travel The World
Once you get to a certain level of wealth, the way you operate changes. Security, privacy, and convenience take the place of wanderlust and going wherever the road takes you. Because look, you’ve got places to be, meetings to attend, and you gotta be on t…
Sun Tzu | The Art of War
If you know neither the enemy nor yourself, you will succumb in every battle. Sun Tzu War is part of life. It’s in the nature of most living organisms to engage in battle, defeat opponents, and to dominate. With humans, we see this happen in war, in bus…
How I Achieved High Income In My 20s | How to Make More Money
[Music] So in this video, I wanted to share some things that I’ve learned about money over the past eight years or so. I’m not saying that I’m some genius who’s got money all figured out or anything, but over the past eight years I’ve made some decisions …
Game theory worked example from A P Microeconomics
What we have here is a free response question that you might see on an AP Microeconomics type exam that deals with game theory. It tells us Bread Basket and Quick Lunch are the only two sandwich shops serving a small town, so we’re in an oligopoly situati…
Meet Warriors on a Mission to Help Lions and Humans Coexist | Expedition Raw
We have never seen the river dry at this time of the year. There’s not much grass and is no enough. What a state! A foreign world. The water is underground, and this is how we get water for both whirling, powerless stuff and also for people. This is how w…
A Conversation About Crypto-currencies and ICOs with Andy Bromberg
Today is Thursday, which usually means that Adora or myself sit up here with someone notable and have a hopefully interesting conversation. The someone notable we have today is Andy Bromberg, my friend and the president and co-founder of CoinList, which i…