You are viewing a single thread.
View all comments
130 points

Crypto trade

There’s where all the money went I guess. Gotta steal toilet paper to leverage that crypto position. (After you’ve already lost everything several times)

permalink
report
reply
-31 points
*

You can make significant money by trading crypto peer-to-peer. It is incredibly risky but you can make around 6-7% profit after fees. I made around 2,000-3,000 USD monthly, moving around 40,000 USD in volume. The main risks are chargebacks and account closures.

It wasn’t free money, of course. But the profit-to-effort ratio is pretty high once you figure out how to weed the good clients from the bad (scammers who will pay, receive crypto, and then dispute the payment).

Do not ask me how to do this and do not reply to anyone who comments below claiming to know how, because they’re probably a scammer.

permalink
report
parent
reply
19 points

Investments are not effort-to-profit. They are risk-to-profit.

There is no such a thing as risk-free investing. If there is an investment with good returns, it means it’s just as easy to lose all that money.

permalink
report
parent
reply
1 point
*

This is not investing. I did not ever hold significant amounts of cryptocurrency. People would ask me to sell them crypto and then I’d buy it on a crypto exchange and then sell it to them.

I do not believe holding cryptocurrency qualifies as “investing”. It is much closer to gambling as the entire valuation is purely speculative. I get that all investing is gambling to some extent, but it’s not the same as stocks, for example, because holding stocks gives you voting rights for a company’s board of directors and entitles you to a portion of the company’s profits in the form of dividends.

There is risk, of course, but it is not market risk.

permalink
report
parent
reply
6 points

That’s being a dealer, when people say trader they mean something else

permalink
report
parent
reply
5 points

A high effort to profit ratio would mean a lot of effort for a little profit.

permalink
report
parent
reply
1 point

I meant to say profit-to-effort. I fixed it

permalink
report
parent
reply

Greentext

!greentext@sh.itjust.works

Create post

This is a place to share greentexts and witness the confounding life of Anon. If you’re new to the Greentext community, think of it as a sort of zoo with Anon as the main attraction.

Be warned:

  • Anon is often crazy.
  • Anon is often depressed.
  • Anon frequently shares thoughts that are immature, offensive, or incomprehensible.

If you find yourself getting angry (or god forbid, agreeing) with something Anon has said, you might be doing it wrong.

Community stats

  • 6.8K

    Monthly active users

  • 1.1K

    Posts

  • 27K

    Comments