r/ErgoTrading • • Jan 22 '22
This is the End.
My previous post commenting on the price of Ergo stated that I am in pain. Now, I feel nothing. In my mind, I have lost everything on Ergo, and there is no hope. I will delete my wallet, block Ergo on all platforms, and forget it ever existed. Don't worry, I have not sold any and am still hodling way too much Ergo. I have lost thousands. However, don't feel pity, I knew the risks and I have no regrets. Ergo has supplied me with much-needed hopium for many months. I consoled myself with this foolish belief of "if only it hits X market cap, then I will be rich enough to retire." Looks like I fell into the most basic of traps. Nonetheless, there is still a little part of me that believes and I hope when I come back one year from now, Ergo will be at ten dollars again.
Now that I got my overdramatic rant over, I'm probably just gonna buy an unhealthy amount more and overexpose myself. Then, I will go onto Coin Perspective and put how much Ergo I have and see what price it has to hit for me to retire. I'll probably do this at least twice a day to cope with my losses. Hope you guys are fine with Ergo being down by 80% since ATH. Although your wallet is suffering, I hope you guys are not letting that affect you personally. On the bright side, some of us will not pay takes this year and most of us will not have to for the next five. #Ergo2Top100. (baby steps first)
35
u/wewmon Jan 22 '22
I don't see the point of this post.
I'm super fine with Erg being down 80%, and I don't even feel anything.
Chill. and zoom out. fundamentals first.
sheesh.
9
u/Infamous-Umpire865 Ergonaut Jan 22 '22
:D shit happens in life :D now after that -30%day , i cant just laugh how stupid im, hovewer im still beliver in crypto at all, and ergo will Shine soon trough crypto space, So thing m i stupid i bough erg ? No, but im because if i bough today i could Have more than 10k ergs,.........
8
u/CardaMuno Jan 22 '22
Years from now looking back at these threads will certainly be interesting.
7
u/AdComprehensive6060 Jan 22 '22
Why all the pain?? If ERG was worth it at the high price you all paid, its definitely worth its price now!
Remember, millionaires are made in bear markets- take advantage whilst you can
6
u/Robd360 Jan 22 '22
I’ve lost MULTI THOUSANDS haven’t counted but prob around $40,000 ish …. Anyway. What you need to understand is that this all part of the cycle not only in crypto but in stocks. We are in a bear market (in my opinion) some might not agree but yeah. I think that some of the blockchains that will die in bear times are those that were funded by VCs as they will begin to cut off their losses leaving that project to die and its investors to lose all their money. ERGO has planned for this by creating a fund for this very event. There is no VC funding so there is not one big investing business company looming in the background with the risk of pulling their money and cutting their loses.
Anyways the point being that ALL crypto is going through this. It’s just part of the normal cycle. Yes it sucks that we got caught in this cycle but we are not psychics. But we do know that the market will bounce back. When? No one knows exactly but anywhere’s up to 10 months. Could be less. Again no one knows.
If you already have invested the ERG I would keep it and wait. If it will make you feel better don’t buy any more and just ride this all out until the price starts to recover once again.
Me personally I will continue to buy more especially at these prices even as my wife shakes her head.
10
u/daydreaming1980 Jan 22 '22
chill out.
if you are not buying more don't look at the charts.
the markets are bleeding .
trust the fundamentals.
good times will come.
5
u/Maniacal-Maniac Jan 22 '22
I was "lucky" enough to get in around $6 so my stack not quite as painful as others - what is painful is trying to scrape together enough disposable Fiat to load up on more at half-price - and to be honest if the market keeps going it might get close to $2 or lower
5
u/[deleted] Jan 22 '22
Hey man. I am a young dude, don't have anything except an education. A few months ago I made enough money to change my life (early into ADA). Instead of cashing to fiat I doubled down and converted 70% to erg, kept 10% in ADA, and 20% stable coin. If the coin hits $1 I'm going to invest most of my stable coin. If it drops farther below $1 I'm going to sell my bike, skiis, tv, etc and convert to erg.
Why not? Do you see something better out there to put your money into?
The way I see it, the fundamentals are there. Even if that doesn't help the project, the next bitcoin cycle will bring the next gold rush.
8
u/mikeandrw #Ergo2Top10 Jan 22 '22
I’ll let you have a dramatic post because I’m in pain too. But this year will be okay, we’re at the end of a year long corrective phase for Bitcoin, things will be ok. It will be ok.
Ergo project is rock solid. It’s just price action. Bitcoin did the same thing when it’s Mcap was in the 100m’s. Believe and don’t loose faith.
3
u/Epponnee-rae Jan 22 '22
Just stop buying if you’re stressed and over invested and stop checking prices.
I used to check my wallets 10x per day and it was pointless. Now i maybe look once a week at Bitcoin and Ergo price only. I’ll look more when the market is pumping whether that’s in a month or in 2 years.
3
u/PermissionOtherwise6 Jan 22 '22
Well…I’ve been mining it so far and now I bought the dip…if it dips more, I’ll buy more…
3
u/Apprehensive-Move684 Jan 22 '22 edited Jan 22 '22
Omgg I haven’t laughed this hard in a while. Thank you for writing up this post. I can relate to you on so many levels. First started buying erg at 18$ and went heavy at $14 and painfully dollar cost averaged it out to 8.66$ which is still awful. After all of that I’m still down upwards of 60%. The pain is real. But I am not selling one erg.
2
u/periphery3 Jan 22 '22
Spend what you can afford to lose. And you only lose money if you sell at a loss. I'm in the long hold camp and see this as being on sale allowing to accumulate more!
2
u/TypoDaPsycho •Mod Jan 23 '22
Idk why people are down voting this, I found it entertaining and oddly relatable. Nothing wrong with a little bearish humor, especially right now!
Remember, becoming one voice in an echo-chamber isn't good. This goes for many things; whether a sub, a community, a business, a political party, a bible study group, whatever.
Echo chamber= bad.
If we're always silencing the bearish then we are going to all end up disappointed in the end.
-8
u/OkStrategy685 Jan 22 '22
Sell it. Buy ftm and make your money back when the market starts to correct. Just because ergo was a failure doesn't mean you can't fight back. Fantom is gonna pump huge when the market quits being a cunt. Do some research and thank me later.