How I Lost 2 BCH in SmartBCH Chain?

Losing some of my invested amount of money in the crypto-verse is not new to me anymore as I have been actively involved on this other side of the virtual world for almost 2 years now. Although I'm gaining experience and additional knowledge as time goes by, that still doesn't guarantee that I won't lose any of my investments anymore. Perhaps, it will take months and even years before I can actually get to apply the lessons I have learned from my mistakes in investing. However, the sooner I get to apply them, the better the outcome will be.

Some time ago, I have published an article titled "How I Lost $2,000 on CUB" where I shared there how I lost a huge amount of money by investing it in a governance or DEX token. It was one of the biggest losses in my investing journey and in this article, I'm going to share again how I lost 2 BCH in the SmartBCH chain, the side-chain of our very own beloved Bitcoin Cash.

It is not a secret anymore that I have lost my interest in the SmartBCH network because of so many reasons, and one of those is that I'm no longer updated about the latest news and happenings in that chain. Another thing is that the prices of the tokens were greatly affected by the negative performance of the BCH price that has been dumping for months, which kept pulling down the prices of the SmartBCH tokens. The number of failed and rug pull projects that kept increasing also made me lose the excitement I had for it in the beginning. I also started venturing out to other side hustles that made me not have enough time to even check and monitor my investments there.

And with these various reasons, I have decided to start Selling all of my SmartBCH Tokens (Eirolfeam2 Wallet) and Selling all of my SmartBCH Tokens on my Main Wallet to formally start saying goodbye to the SmartBCH chain. Luckily, I was able to accumulate a decent amount of BCH profits from the tokens that I invested in before that selling all of them was not that painful to me. And it made me somehow offset my losses on my third Talpakan Gaming wallet.

So more than 5 months ago, last January 06, 2022, to be exact, I decided to try my gambling luck on the SmartBCH network. From gambling shit coins in the Binance Smart Chain (BSC), I shifted to gambling in the SmartBCH Chain (SBCH) where I invested 3 BCH into different tokens from the profits I earned in trading Portify (PFY) on the Pancakeswap exchange. I have shared more about it in the article that I have written about 2 months ago titled "What Happened to my 3 BCH on SmartBCH Network?"

Just like what I have shared there before, the 3 BCH that I invested was worth around $1,180 since the price of 1 BCH last January was still worth $393.

And the beginning of the journey was just smooth and things are going in my favor. The first set of tokens that I bought were $Cats, $CLY, and BPAD, and I spent 1 BCH to buy each token for a total of 3 BCH for the three of them. Then after a day of holding BPAD, I decided to sell it all as I was already satisfied with my almost 0.035 BCH profit. Then I used the 1 BCH to buy another 1 BCH worth of $Cats again to have 2 BCH worth of $CATS already. And after more than 1 week of holding $Cats, I sold it immediately when I saw that the price of $Cats is slowly pumping. And I gained less than 0.1 BCH profit from trading $Cats. Since I wanted to secure my profit, I immediately withdrew it and sent it to my 2022 BCH Wallet.

Since I had 2 BCH lying in my wallet, I decided to gamble it again with different tokens on the SmartBCH network, but this was a decision that I regret making since it wrecked my whole portfolio, which led me to write this article.

On January 17, 2022, I decided to spend 1 BCH to buy 0.5 BCH worth of CST and SPICE Tokens. But on the next day, their prices were dumping, so I spent another 1 BCH to buy 0.5 BCH worth of CST and SPICE again just for me to lower my entry price. But the odds were not in my favor as the prices of these three tokens were all dumping so my Talpakan Gaming journey was put on hold.

And after almost 5 months of holding them, I have decided to sell all of these tokens and just move on from them already as I don't think that the prices will ever recover again, or maybe I'm wrong and I'll probably regret this decision in the future if the prices will start pumping already, but as of this moment, this is a good decision for me since I can use the BCH I get to trade and increase my BCH holdings.

I first sold my CLY Tokens and from investing 1 BCH in it, I only got to sell it all for 0.1 BCH now, which made me lose around 0.9 BCH. This is the token where I accumulated a huge loss.

The second token that I sold is my SPICE Token holdings and from buying them all for 1 BCH, I got to recover 0.67 BCH from my initial investment, making me acquire a total loss of 0.33 BCH.

And the last token that I sold is the CST Token that I purchased for 1 BCH and I only got to sell them all for 0.26 BCH which made me acquire a 0.74 BCH loss.

And from investing a total of 3 BCH on these tokens, I only got to recover a total of 1.03 BCH for my capital and it made me accumulate a total of 1.97 BCH loss. Now, I have 1.07 BCH in my wallet thanks to the additional 0.03+ BCH profit that I earned in trading BPAD before.

I know the 1.97 BCH loss is already a huge amount but I'll just consider it as my tuition fee for the valuable lessons that I have learned in investing.

Some of you would probably think and ask, "Why would you sell at a loss when you can hold and wait for it to recover?", but just like what I have said, I don't see it coming and I have other plans with my money now so my money, my rules. 😜

Anyway, this is probably the last time I'll talk about my SmartBCH journey but when I get my interest back in it, I'll surely dive into it again if a good opportunity comes along the way!