The world of cryptocurrency has created millionaires overnight—and just as quickly, it has reduced them to zero. This is the raw, unfiltered journey of one self-proclaimed "long-term crypto loser," a cautionary tale of ambition, greed, resilience, and hard-earned wisdom. From launching blockchain startups to chasing moonshots in altcoins, from life-changing gains to total wipeouts, this story captures the emotional rollercoaster that defines so many crypto journeys.
The Startup Dream That Led to Blockchain
Before diving into digital assets, the author was a serial entrepreneur. In 2016, he co-founded Digital Gorkha, a visitor management and security app for physical venues. Despite solid user growth and revenue, the company struggled due to poor early fundraising decisions—giving up too much equity to the wrong investors. This misstep crippled future funding efforts and left the technical product without a sustainable competitive edge.
Under mounting pressure—personally and financially—the founder found himself six months without a salary, living off friends’ generosity, and facing family criticism as his wedding approached. With nothing left to lose, he stumbled upon blockchain technology during a late-night Google search.
Drawing from his background in cybersecurity and cryptography, he quickly grasped blockchain’s potential. Inspired by a blog post on decentralized identity systems, he envisioned upgrading Digital Gorkha’s verified visitor database into a blockchain-based identity layer—what would later become GetXS, a blockchain identity protocol.
He pitched the idea across India’s top venture firms—including Accel, Sequoia, and prominent angel investors like Anupam Mittal and Kunal Shah—but received no traction. In hindsight, this concept resembled early versions of projects like Worldcoin, but back then, blockchain was still too niche for mainstream investors.
After burning through funds and accumulating debt, he was forced to sell 30% of his company at near-zero valuation and exit the business entirely. Crushed by financial strain and investor resistance to innovation, he abandoned entrepreneurship and pivoted toward blockchain jobs.
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Falling Down the Crypto Rabbit Hole
Determined to rebuild, he took three bold steps:
- Launched @ItsBlockchain, a blog documenting his blockchain learning journey.
- Spun off GetXS as an independent startup with a new co-founder.
- Took a job as a blockchain consultant in Bangalore to cover basic expenses.
While barely making ends meet, he remembered his first Bitcoin purchase in October 2016—just one BTC. By January 2017, its value had doubled. That small win sparked obsession. He dove deep into cryptocurrency research, discovered Ethereum (ETH) and Ripple (XRP), and made his first serious investments. Within weeks, his portfolio grew tenfold.
By mid-2017, he quit his job confidently: “Why go to an office doing meaningless work when I can earn four times more from home doing something exciting?”
He rebranded @ItsBlockchain into a crypto-focused platform, concentrating on altcoins and initial coin offerings (ICOs). A turning point came when he published “Top 10 Coins to Buy in August.” The article went viral—traffic surged to 150,000 visits that month, peaking at 1 million pageviews during ICO mania.
With massive traffic and an engaged email list, he monetized through ads, sponsored content, and consulting for crypto investors. Starting 2017 with $0 in the bank, he ended it with over **$1 million in earnings**—a dream come true.
But success came with a cost: greed began to take control.
The 2018 Bear Market: When Greed Met Reality
In early 2018, fueled by FOMO (fear of missing out), he believed swapping Bitcoin for high-potential altcoins was the smart way to multiply wealth. At the market peak, he converted 90% of his Bitcoin holdings into over 40 different altcoins, planning to hold them long-term.
It was his biggest mistake.
As the market slowly turned bearish, he dismissed early warnings as normal corrections. He clung to hope during temporary rebounds, repeating: “It’ll bounce back.” Meanwhile, he lived extravagantly—traveling, spending recklessly, indulging in substances—convinced the bull run would never end.
Many believed Bitcoin’s $6,000 support level was unbreakable—it held firm six or seven times. Everyone HODLed. Everyone thought it was just a healthy pullback.
Then came the crash.
Bitcoin plunged below $6,000 and collapsed to **$3,200. At around $4,000, he capitulated and sold everything. His portfolio? Reduced to less than 5%** of its peak value.
Once again, he lost nearly everything.
Chasing Recovery: The Futures Trap
Desperate to regain what he’d lost, he turned to crypto futures trading in 2019. Leveraged trading gave him brief hope—when Bitcoin briefly spiked to $13,500, he recovered about 30% of his previous peak.
But sideways markets exposed his weaknesses. Technical analysis failed him. Emotional trading led to consecutive losses.
He landed a role writing market analyses for Blockchain Whispers, paid in Bitcoin. Instead of saving these earnings—a lifeline—he risked them all on leveraged trades.
Then came March 2020: the infamous “Black Thursday” flash crash.
Bitcoin dropped over 50% in hours due to global market panic and liquidations. His positions were wiped out instantly.
Total loss. Again.
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Stepping Away: Lessons from the Edge
That moment marked his breaking point. He walked away from cryptocurrency entirely and spent a year working in film production, seeking peace and perspective.
Looking back, he identified three core failures:
1. Greed Is the Ultimate Enemy
When you achieve life-changing profits, protect them. Don’t chase infinite returns. The desire for more blinded him to reality.
2. Lifestyle Inflation Is a Silent Killer
He upgraded his lifestyle too fast—luxury spending became unsustainable once profits vanished. Financial freedom isn’t real until your habits reflect discipline.
3. Emotional Investing Destroys Portfolios
He ignored red flags and sought only confirmation bias. Markets don’t care about your beliefs or hopes. Data, risk management, and cold logic matter far more.
Frequently Asked Questions (FAQ)
Q: Can someone really recover from multiple crypto wipeouts?
A: Yes—but only with humility, education, and emotional control. Many who survive multiple cycles do so by adopting disciplined strategies rather than speculative gambling.
Q: Should beginners avoid altcoins completely?
A: Not necessarily—but they should understand the risks. Altcoins are highly volatile and often lack fundamentals. Diversification is wise, but overexposure can be devastating.
Q: Is futures trading suitable for most retail investors?
A: No. Leveraged trading amplifies both gains and losses. It requires deep market knowledge, strict risk management, and emotional resilience—skills most beginners lack.
Q: What’s the biggest mistake new crypto investors make?
A: Letting emotions drive decisions—FOMO during rallies and panic-selling during dips. Successful investing requires patience and a long-term mindset.
Q: How can you tell if you’re becoming emotionally attached to your investments?
A: If you feel defensive when others question your picks, ignore negative news, or can’t sleep worrying about price swings—you’re too emotionally involved.
Q: Is it possible to stay in crypto without getting burned?
A: Absolutely. Focus on education, diversify wisely, use dollar-cost averaging, avoid leverage unless experienced, and never invest more than you can afford to lose.
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Final Thoughts: The Cycle Never Ends
Though he swore off crypto in 2020, like so many others, he admits: “Nobody really leaves crypto.” The space pulls you back—not because of greed this time, but because of fascination, belief in the technology, and the lessons etched into your bones.
His journey underscores timeless truths applicable far beyond digital assets:
- Wealth is fragile without discipline.
- Success without wisdom leads to collapse.
- True resilience comes from learning—not just winning.
For anyone navigating the wild world of Bitcoin, altcoins, or crypto investing, remember: the market rewards patience, punishes impulsivity, and always humbles the overconfident.
Core Keywords:
- cryptocurrency
- Bitcoin
- altcoins
- crypto investing
- bear market
- futures trading
- emotional investing
- risk management