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Counting My Paper Losses

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Written by   315
2 months ago

[#336] Date: 30th April, 2022


It's the last day of April, and we have a five-day holiday here in Malaysia. I finally brought myself to calculate my losses both in smartBCH and Pegaxy. Are you keen to know how much I have lost, and maybe laugh at me? Heh... I know there are people like that but it doesn't faze me as I am only answerable to myself. Also, although I am at a loss, I trust that this is just "paper loss" until and unless I cash out and exit my investments.

So, how much did I lose? On smartBCH, I have always thought that I invested 5 - 6 BCH and that was what I had talked about in my past articles. In fiat terms, it's actually US$1700. In today's BCH value, that would be 5.8 BCH but because I bought my BCH since the price hit US$600 and bought even more when it continued to fall, my invested BCH was lower. Good thing I noted down the value in US Dollars, so that I know for sure how much I need to recover.

Most tokens are down, some by even 90% such as Wojak and SMART while some got rug pulled like Cattos and PixsRPG, which means a total loss. Nonetheless, I am not in despair at the situation because I believe I do have a couple of winners in my bag. Time is all they need. Besides, when Sha-Gate opens, more investments will enter the network and by then, we probably will beat ourselves up for not investing enough! For now, though, I am no longer going to pump in more BCH to my wallet, but just reinvest what is already in there. To date, I didn't even cash out a single Satoshi. LOL

Pegaxy, on the other hand, looks wayyy bleaker. I lost US$3000 for now, also, like I said, paper loss until and unless I cash out. I spent US$2000 fiat in buying Pega NFTs, while another US$1000 was spent buying $VIS and $PGX waiting for their prices to turn around, but I wake up daily to see the prices going down, lower and lower. It's like going to the hypermarket to see signs of "Everyday low prices!" Like smartBCH, I will also no longer pump in any fresh funds. 

As long as the team continues to build Pegaxy, there is still hope. Patience is what we need. This is the reason that we should always only invest what we can afford to lose and assume that we will lose a hundred percent of our investment. Never sell your house thinking that you can profit fast enough by flipping the tokens or NFTs, because shit happens. So, again, only invest what you can afford. I wouldn't tell you to research the projects thoroughly because I don't do that myself, too. HAHAHA!! 

But I will tell you that you shouldn't let a few bad investments spoil your day. I am thankful that I did make some good bets on other chains, although as a whole, the crypto market is bearish and the general sentiment is really depressing, so my token prices are down as well, BUT still winning.

Anyway, in total, my "losses" on both smartBCH and Pegaxy are US$1700 + US$3000 = US$4700, out of pocket money excluding reinvestment and time wasted playing Pegaxy. I am prepared to see this burn to dust. With me not pumping fresh investments, this will be my "total loss". Obviously, a total 100% loss is not possible, unless both networks collapse. 

Even to that point, it's only just money at the end of the day. Never let your day be spoilt by the situation!

*Lead photo by RODNAE Productions.

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Written by   315
2 months ago
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Comments

It had been quite a challenging time for us all in crypto. I too have written off all my investments and if any will still recover that will be a bonus

$ 0.00
1 month ago

This month has been a bloody month for some. I am also in red this month with some of my cryptos but will not change them into fiat. Hopefully they will be in green soon.

$ 0.00
1 month ago

🙈 With that much money I can realize my dream to build a house, even though it's small but at least I have my own house and don't rent a house that wastes money every month. I hope your losses can come back and even get a profit that can cover your disappointment dear.🥰

$ 0.05
2 months ago

Thank you. I hope your dreams come true too.

$ 0.00
2 months ago

I also calculated losses month to month today. About the same 😢

$ 0.05
2 months ago

Mine is the entire smartBCH / Pegaxy journey. Only out of pocket money, without calculating reinvestment. 😬

$ 0.05
2 months ago

But then imagine when everything bounce back up. That would be huge investment.

$ 0.05
2 months ago

I hope I live to see the day!! 😏

$ 0.00
2 months ago

A big amount! 😧 But you're right we should not let it take a toll on our thoughts. We'd surely recover again soon. :)

$ 0.05
2 months ago

Haha took me a long time to calculate. Didn't want to know.

$ 0.00
2 months ago

Huge money, ,$4700 is already 244,400 in our fiat money...it can buy land or build house already haha.

I just don't expect more anymore, in my SmartBCH too, I'm thinking it as loss so I won't get hurt thinking about it and Pegaxy too..

Anyway you have link about Sha_Gate haven't read thoroughly about it, I just know it in SmartBCH gc in TG.

$ 0.05
2 months ago

There was an update the other day, but I can't recall where it was posted. This is the original documentation. https://docs.smartbch.org/smartbch/sha-gate

$ 0.00
2 months ago

Oh gosh! That's just 😱 OMFG. Hope you recover that soon. As for my investment, I stop checking it for a while. I'll just leave it there and wait for whatever happen in the futuee 🤣🤧

$ 0.05
2 months ago

That's the best way actually. Good luck to us.

$ 0.00
2 months ago

Sad to know that but let's just think that it will pump soon

$ 0.05
User's avatar Yen
2 months ago

I hope so. Sigh.

$ 0.00
2 months ago

That is how investment goes, right? It ain't always gain. I'd say ouch but we get back up and stay on anyway. Besides, like we always say we shell out what we know we are comfortable not getting back.

$ 0.05
2 months ago

Yeah it's so important to not think it's easy money to be earned.

$ 0.00
2 months ago

Omg...its a huge loss, if I would be at your place, I had must received Mini heart attack...lol

$ 0.05
2 months ago

I'm still OK, thank God. Hahah

$ 0.00
2 months ago