What is the status of everyone's funds?

English General Discussions
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In the past year, I have got all the best opportunities to borrow money, and they have disappeared exponentially after being put into Cardano. At that time, I was grateful for all this with firm confidence. Looking back now, it is like an unrealistic dream.

When the ADA price reached 0.18 CNY, I placed an order on the exchange and sold most of it in dollars because I didn’t want it to be lower. But after a few days, it rose, and I lost half of it immediately. Recently its price has stayed at 0.3 CNY. I bought it back and added new money, but it fell immediately. Everything is even worse at this time.

In ADA, my father and I invested a total of 145.8k CNY, and now only 14k. I pinned all the wildest dreams on Shelley, but now it has been postponed for a whole year, and it is not sure that it is the last postponement. I spent the entire year with optimism in ease, but didn’t get anything. Now, even if Shelley is not be postponed again, all of my ADA can only be used to repay the loan and disappear in three months. The price has fallen too much, even if I used those borrowings to live and buy ADA now, I will have a lot of money left, more than enough. I also invited my uncle to buy this my dream currency and told him that this is all hope. I bought a 50k CNY ADA for him, and now only have 1.55k CNY. I don’t know what I have done, it’s all over. I always think that I am a very cautious person, I will not make the wrong choices and decisions. In the past year, I encouraged my loved ones, with sincere enthusiasm and feelings, and said that a good life must come soon. It turned out that all this was just my stupid imagination.

Recently things have reached a turning point in the deterioration, I can not insist on it. Even though I still have 50k ADA (well, hackers come and take it all), I can’t hold on for another month.

I know that IOHK has developed Cardano more and more, and I hope that I can be ecstatic about this greatness, but I am exhausted, and I’m fed up with what money has done to me. I am not so strong, so I have tried those jobs that will make you eat like a parasite. I can’t live like that, it’s awful.

I may be able to persuade my father to help me pay back, but he is such a bad person, I can’t stand it. I have endured it for a whole year, and my heart has almost been made into powder. He has never looked at life optimistically, and now things has made me lose my credit. He has always used his soul to make the whole family worse than the prison. In fact he can do better, but he messes up everything and doesn’t believe in pure hope. He is a stubborn and perfect peasant who wants to save everything with swearing words and only believes in living in the way he pays today to tomorrow.

Every day is grey, I don’t want to fail completely, but every day tells me: No more.

I want to live easily and give my life a hope, so I believe that I can use this opportunity to change my life. Is it too naive? Now I know that Shelley may start (I’m sorry to say this because she will be tarnished by me), but I have lost all the foundations. Please, the sky to give birth to a road. I still live with hope, my heart can’t squeeze anything.

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I’m so sorry for your situation. Life can be very hard. All I can say is face your problems, learn from your mistakes and don’t give up and let it make you bitter. Try to think clearly and keep working hard. Life seems to reward perseverance. I wish you the very best right now and hope you can find peace and strength in your situation.

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Thank you for your warm words!

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It’s not a problem. I’m going through tough times too though not related to Cardano. Helping you helps me also. We will get through it.

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This story of yours that is perfectly worded is one reason that I have chosen to be a subtle voice against hyping Cardano.
Last year when I bought the most of my ADA I was advising my own family to do the same, I lost the fiat value alongside of many others, I made a revaluation of what I thought about Cardano when I realized a large loss of value - that is when I became truly committed to the potential of such a protocol, I had to understand first why I was attracted to it financially, when I clearly understood this I realized that the protocol and not the cryptocurrency is what my interest truly was about, the potential of financial freedom through risk free proven immutable transactions and contracts and coupled with a strong foundation rooted in the academic foundations of the world was the initial reasons that I first bought Cardano, after making the self evaluation and coming to a honest conclusion it reignited certain idea’s I hold of a decentralized financial world that operates outside of cultural differences with no regard to political opinions or regional interest’s in the world, I have been promoting the use of cryptocurrency for years - somehow i also got caught up in investing in it - and tbh I started to look at it as gambling, when the crypto market fell out I decided to stop gambling and start to add real value to this decentralized ecosystem experiment, now I continue to spend all my extra time networking with other crypto enthusiast’s, I look for ways to promote Cardano to others, I look to strengthen our community, I bought in for a good reason: cause this project is something I believe in.

Now I hope that you can overcome your financial losses and make an evaluation of your own, why did you truly buy into Cardano? What is it you truly want out of the project? What is it that made you believe in Cardano? Do you want to be a part of the experiment that can change the world or do you want to only benefit financially from it? Many many people that believe in Cardano have lost a lot of value, most of us thought this was the best way to be a part of Cardano, but for the protocol to reach its full potential it will rely on people from all over the globe to bring their skills and ability’s and their perspective and opinions to join in and contribute in whatever way they can to build a truly decentralized ecosystem.
With your holdings you will have a stronger vote when the voting centre and treasury are realized, I hope you will remain active in the community so you can be a part of that :slight_smile:

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I’m sorry to hear about your problems. I believe in “you should not invest more than you’re willing to lose” phrase and also that you should never take a loan to cover high risk investments.

Unfortunately I don’t think Cardano or in fact any crypto will have a good year. This is more of a long term investment. I would not expect good returns before 2020. Of course I might be wrong and you have to decide for yourself, but it would be bad to sell at the bottom.

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Thank you for your reply. I don’t like socializing and I don’t want to influence this society. I also don’t have the technical ability. I am just one of many people who believe in this technology :blush:

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Really? Think of it again. How much could you set aside each month? If it’s 100 CNY, then fine. Then just buy ADA for 100 CNY each month. In five years I’m sure you will be quite happy and maybe you will be even able to pay back the losses to your family.

Borrowing money you can’t afford for speculation is a kind of gambling. It might work out one, two, three times but unless you are really good in risk management, eventually you will lose it all. And obviously you didn’t have any risk management at all.

I’m sorry about your situation. Try to learn from it and you will be fine one day. Invest, don’t speculate. Think about the next five years, not the next month.

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看到你的文字，非常难受。正如大多数参与者一样，市场行情使很多人失去了财富也包括我。理性投资更为重要，虽然我也不理性。希望你好起来。

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I don’t think it’s true. Everyone makes mistakes in their life, don’t fall into despair and keep at least a bit of positivity.

Obviously I don’t know how exactly your situation looks like but I believe in the long run Cardano could be very successful. If you have the capability to hold onto it for a year or two, I’d personally do that as I believe next year we will start to see the crypto market recover. If the cycle is not broken we could see significant price growth in few years:

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I can’t guarantee you anything and you have to ultimately decide for yourself but whatever you do, don’t loose faith in yourself.

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Chiton,
Lets not get our cart before the horse.
Consider yourself lucky to be arriving at the game before the lights even turn on.Its really how much of an infant Cardano and its technology is.
I have 0 intention to even worry about price or what my portfolio in fiat is right now.They are all unrealized losses or gains UNTIL i sell.
Another thing that you need to consider,that I see with swing trading all kinds of crypto,Is how heavily tied alts…(yes that includes ADA) is to the price action swings on BTC.So although Cardano is leaps and bounds a better crypto…its still chained with BTC/pairings.BTC is still the king at the moment.
Your prudence will overcome the natural human nature of impatience.
Food for thought…
6HFOn

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PM ME, before you sell a single ADA.

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This is a classic example of “don’t invest more than you can afford to loose” - unfortunately most of us learn this lesson the hard way. Best of luck to you going forward…

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Everyone reading this will have felt some of the pain from falling prices. We didn’t come in for the money but when we see it disappear it still hurts. Most of us didn’t raise debts to buy in, so doing that wasn’t great, but wherever the money came from we are holding on because we feel in our hearts that it is a long term goal and it will come out good through the hard work of all. I say… Don’t put more money in. Work to earn and repay your debts with fiat - you have taken that on so you have to. I suggest you leave the ADA unsold - and offline. But I am in a different position, I can do that. I can’t know how difficult it is for others.

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Let’s revisit this thread, as many people can relate to your story.

Shelley has been activated on our protocol with the testnet in place to help all understand all the bug’s and glitches a global network of decentralized nodes will come across, the questions asked in my prior post are still relevant today - ask yourself these question’s, ask others also.

We are in uncharted waters now with the highest scientifically proven protocol being turned over to a decentralized community that is expected to step up and maintain it once testnet is complete and bugs are worked out.

How does it feel to have a cache of Cardano and the protocol moving into a complete decentralized space?

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We can talk a lot about future of our world and how Cardano looks like Apple in 70’s.
Im big fan of Cardano project and Charles Hoskinson, but the price in deep ass now and this is reality.

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But when I see Cardano progress and what and how they make and IOHK strategy I do not care about coinmarketcap page :slight_smile: