"Hi everybody.!
Today, December 25, 2024… I lie in a small room next to my children and write these thoughts. I am a doctor, a private clinic owner, and work part-time for a foreign hospital. In 2015, I started to know about the Crypto market. But at that time, like many people, I did not understand it and at that time I really did not care much.
In 2019, when I saw my friends talking about Bitcoin and Crypto, I also started to try my luck. I also tried to create a Trust wallet, buy on Poocoin...
And the crisis is from 2020 until now, when I started to dive deeper. Slowly a few million, then tens and then hundreds of millions burned into the market. And it really made me lose myself. I rushed in like a thirsty gambler. My monthly salary working part-time at a foreign hospital was also up to 8 digits. But no matter how much I had, I kept depositing, burning, burning and borrowing to recover. The vicious cycle of a gambler, there must be many people in the Group like me. I borrowed money at high interest rates to gamble. And that was the tragedy that happened. Part of my salary was used to pay the interest and continue to deposit...
Up to this point, the amount I owe is up to 800 million. A number that is not small for me and 2/3 of it is usury…
Up to today, to write these lines of thoughts, I have made my own decision. I have to be awake before it is too late. I have completely deleted all Apps, Wallets and accounts related to Crypto: Trust Wallet, Phantom Wallet, Web 3 Wallet, Binance, Mexc... I deleted everything...
I realized that I had to stop before it was too late. That amount of money was based on my salary and if I didn’t continue to spend it, I could pay it back. I texted and made an appointment to meet the high-interest creditor, hoping that they would sympathize. And luckily, the creditor agreed to extend the debt because I met and spoke honestly. And they even reduced the interest by half so that I could pay back the principal in monthly installments to them. Perhaps the experience is that if you are really at your wits’ end, be honest with the creditor to find a payment plan. Don’t avoid or do anything stupid…
I write these words also hoping that you will read them. Those who are working for a salary like me should be frugal. Use the money you earn to take care of your family and relatives. Because, if you are not a person who has a formal education in Finance, then we are still just investing with the mindset of a gambler…
Thanks for reading everyone…”
Minh JP, a crypto trader, shares:
"Hello,
First of all, thank you for sharing your story. I think you made the right decision. I wish you peace of mind.
Not just you, everyone who rushes into the market with the mindset of a gambler will inevitably burn their account.
This market is free, which is why its nature becomes clearer and more fierce. And what is the nature - "big fish eat small fish". So this is where the big fish earn a lot of money, and most of the small fish will die. That is to understand that if small investors want to live and survive, they must have skills, techniques and most importantly, they must control their greed. Rushing in to quickly recover like gambling is the bitter emotion of wanting to quickly recover leading to decisions that force transactions. It will only hurt us more and more.
So why do the old people say? Discipline is the most important thing. It is controlling greed.
By saying that, I don't mean to say this or that to you. As above, I told you to delete things right. Investing first requires learning, researching to have a plan, practicing to control emotions, discipline to keep a good mentality. All combine to make reasonable decisions. This takes time, effort and work seriously and professionally. So, like you, when doing another job, coming to investing is like a part-time job, a part-time job is really difficult. To be honest, many people work wholeheartedly but it takes a few years to make money, let alone you consider this as a part-time job that can make money. Investing is not that easy.
Through your sharing. I also hope many brothers will look back, calmly think about where they are. If you are losing money, that means you are wrong. On average, about 90% of brothers lose money. It is probably the same here.
Wishing you good health and luck”
(According to blogtienao)