Hello,
My name is Carlos Wallauer, I also go by my nickname, Kadu, but most people know me as Sherlock (@crazy_crypto) on Twitter. I'm from Brazil and here's my story (it might be a little long, but I swear it's interesting, or not, you decide):
I first entered the crypto world in March 2014. What brought me here? Well, I encountered a Doge mining (clicker) game on my Facebook (which was quite addictive) and at the bottom of the website you could credit the author if you had real dogecoins that apparently were worth some money! So I thought, that's COOL, how do I get these!?... which ended with me buying some on Mercado Livre, a platform similar to eBay in Brazil. I got a dogecoin address on an exchange and the seller sent those coins to me.
I had no idea what I was getting into.
I quickly discovered there were other cryptocurrencies. I researched a little, saw the crazy volatility of these coins on sites like coinmarketcap, read some bitcointalk topics for a week and spotted some hype for the first time on the MZC (Mazacoin) thread; they had just announced the coin was going to be the sovereign currency of a native American tribe, and I thought "this coin is going to go up in value". And it did, a LOT, over 1000% if I remember well! In a day!
1000% in a fucking day!
At this point I knew I HAD to buy some Bitcoin to start trading these alts since apparently I could spot some good ones and possibly make a shitload of money.
I bought 0.25 btc. 1 BTC was worth around $600 USD I think. That was almost my entire bank balance at the time. Yeah I was poor as fuck and it was irresponsible to invest so much of what I had, but I kinda could afford losing it. I had a stable family that could back me up if needed so back then it's what I did, it seemed like an opportunity I couldn't miss. Keep in mind, I saw many people doing similarly, investing almost all of their savings and going broke. Despair is not a nice thing to watch, so don't invest more than you can afford to lose.
Baby steps
First two days were slow. I had some small wins and losses, pretty much sideways. Actually putting my money in the game was scarier than just watching. But then it happened. I doubled my money at the end of the first week. It was unreal. I could do it. I was doing it. I wanted to research everything and find those gems. I created my twitter, started following people that seemed to know what they were talking about. Analyzed their trades for a while before entering, then started copying these guys when they seemed to do well most of the time. Started posting my own trades digging more and more into bitcointalk threads, getting some followers and getting to know more people around the community.
Zetacoin
Perhaps the first scam I got sucked into. I was doing well, I think I had 2 BTC or something after a month or two. Ah, I almost forgot, after my first week I had already taken some profit out to fiat. I decided this was a smart thing to do so I could never lose what I had initially invested in. Ok, so, Zetacoin. I was still new and naive. They came with big promises. They were going to change the world, take cryptocurrencies to Africa, Kenya, empower the unbanked, stuff like that. I met some people that believed in them and seemed to know for sure they were legit so I started believing in them myself. Word was they had a big deal with a company there, but due to an NDA (non-disclosure agreement) they couldn't say anything yet. An announcement was promised to come soon™.
If something seems too good to be true...
Zetacoin had its hype, some traders made money on it, even I did at one point, but things were about to get nasty. Past deadline, their announcement never came. But another was about to come. Me and some others started doing some digging. I even got Konen's (@cmshindi, the dev behind it) IP address. Hence why I got the name "Sherlock", a user suggested it because I was doing some detective work. :P Turns out it was from Kenya, and if he was there this would be a strong indicator that their game was real, but this IP was blacklisted in a few places, and after some more research from me and others it became more clear it could just be a VPN, a fake IP. The GEOtag used on his tweet was also pointed out as possibly fake. But the scam wasn't a certainty yet, rumor was they had a deal with the Safaricom company and I was still holding a LOT of zetacoin when this happened:
Dear reader, things got ugly quickly. In the next few minutes/hours I think I was down 1+ BTC and sold in panic. Even worse, the market recovered a little bit after I sold (briefly, but enough to make me hate my sell and myself). Might not mean much to you, but that was a lot to me, and I had never lost that much money in my life before, or at least not that fast. All I could think of was "FUCK! FUCK! FUCK!" and that voice lasted for a few days in my head. I couldn't even sleep.
But that opened up my mind!
You see, today I consider that a small price I paid to learn a few valuable lessons (zetacoin wasn't the only scam I saw, but it was the hardest for me):
- Don't believe everything around here.
- There are many scammers out to get your money any way they can.
- Markets can be manipulated (and often are).
- Don't go too big in a position.
- Try to diversify a little bit.
- NOTHING is a certainty.
- Have a plan when trading for your entries and exits, don't just panic buy or sell.
I got lucky. I learned pretty fast how to avoid some scams and how to not go broke with them. If you don't have a plan, you already lost, it's a matter of time. Unless you create one. MANY coins died since 2014. That's why I don't like the "JUST HODL strategy" that some people preach around here. Even when something looks really good it can become a complete failure or scam. Even if it's not a scam, it could still go down a lot in price. And it's not because it went up to insane highs before that it's going to do the same again. This is not a safe place, there are huge risks on every corner. Holding most of these alts long term shouldn't be treated as a SURE THING for the future even if it worked for some til now.
3 years later: VRC, BLK and many others are still recovering from the ALT bull market we had in 2014 (BTC itself was in a downtrend til 2015), some never will. This is a fact. Some devs are long gone even (hello Paycoin and Josh Garza). Plus, we had a big bear market for both alts and btc in 2015 ~ 2016. If you don't want to watch your money take a big hit, I'd recommend you pay attention. Other facts:
- It's not a profit until you're out of the casino.
- You can't go broke if you play it safe and take some profit out at times.
Ok, I'll try to not waste much more of your time.
Some more advice: if you see some red flags, like stuff not smelling well on a coin/project or an exchange, get out. Before anyone else. Reassess later. Even hearing the word "hack" made me withdraw all my money from Mintpal (old exchange, gone). A bad support and ongoing problems with the website made me withdraw my money from Cryptsy (gone too). By doing that, I dodged these bullets. Many people did not. Hence why I have concerns with Poloniex these days and why I'm only keeping a small amount of money there. Hence why I don't use Yobit anymore (non-existent support and anonymous team). If Yobit decided to close doors today and you had some money in there, it's bye bye. You would never see it again.
In fact, if you have a lot of btc you should keep most of it on your own wallet. When your btc is in an exchange, it's not really yours, you do not control it, you just basically give your btc as collateral so they allow you to trade other stuff at their will, and that stuff you buy with it is also not yours until you withdraw it. You should only keep enough on exchanges for what you're actively trading.
So, how did it end?
Well, it didn't, I'm still trading. But here's the rundown:
I was able to make 40+ BTC out of 0.25 btc in 2014, within 7 months. It was a very nice %. Maybe not so much money back then for some of you, but considering I'm from Brazil and the USD is worth 3 times more than my currency (BRL), that was quite cool to me. It was a very great year, but some bad things happened later. First, I had the illusion that the bull market would last longer, that the amount I was making all the time was sustainable. Eventually, I got myself spending more than I could make, expensive phone, tv, clothes, food, parties, even tried to open a design company with a business partner. I won't go into a lot of detail here but my partner screwed me even more. He owned me some money I had put into the company and he did not pay me. To top it off, I got fucking robbed in my own house at the end of the year. Thieves stole my new tv, my new phone, my guitars, some money and other stuff from me and my parents. THANKFULLY nothing happened to us besides the money, but yeah, my life turned into a financial mess.
So, I ran out of Bitcoin.
I stopped trading early 2015. Got a nice job in October that year and started building my life up again. Considering the bear market, I didn't come back to trade til January this year. I started small again, but I'm proud to say that after these months I'm already WAY over my results from 2014, 200x+ USD-wise (over 20000%!). I'm not a millionaire yet, but I believe I can reach that point in a near future and my life has changed considerably already. I also didn't do it alone, I thank the community, many people helped me get where I am today due to their insights. Make meaningful connections, they will get you through it. It's next to impossible for you alone to stay informed about all these coins all the time.
Last but not least, here's some more of what I learned from these experiences, they might sound basic, but sometimes we can easily forget them:
- Try to save money while you're making it, don't go full retard thinking you're set for life
- Do take profit at times, it's healthy, but never sell ALL your Bitcoin.
- Or at least, remember to buy it back later if you're flipping it around.
Of course you can HODL some altcoins you believe for the long run after some good research, but if you decide to do it, make sure it's an amount of money you can afford to lose just in case things go wrong. We are currently making history, it's somewhat unprecedented, but so far we had seasonal markets, so it could get ugly before it gets better. Also, there's a chance this technology won't even be around in a few years. I think it will, I think we'll see 10k USD per Bitcoin in a few years, but it's NEVER A CERTAINTY. So I can't stress this enough: if you want to be around in the future, play it safe. It only takes 1 poor choice for things to go bad.
That would be all. I could go on about many things that happened but this should be enough for now. I probably already took too much of your time. I don't know everything. I'm always learning, always trying to improve my game, but I sincerely hope my story added some value to you as a crypto trader/investor.
Thank you all for being a part of this. Over and out!
Great post and welcome to steemit! Wow, you started in crypto early too, I started back in 2013, and those times were not pumping like they are now lol. Followed
Thanks man! :)
No problem :) 👍
Amazing first post. Welcome to Steem! You got into crypto much earlier than I did. Thank you for describing how that felt. I'm as you, not a millionaire yet but it's not out of the realm of possibility. Do you have any predictions about Steem's market cap?
I think after we blew his mind on this first post he might be more bullish than he was last night :p
Very true! Lmao.
Hahah. Soooo, I think Steem is holding pretty well and could do even better. It also grew a lot in the last few months so a correction wouldn't be unlikely either. But, overall, I think Steem is one of the few alts with an actual working use case, and a very good one, so that could give it more value over time to maybe rank in the top 5 coins. :)
Hello alben! I have upvoted you- also added to my follow list. I'm still learning about the crypto's, I look forward to any postings you have on the subject. Thank you
Welcome to steemit. I am providing daily ICO news.
Follow me and i will do the same @egmn
Welcome my friend! Glad to see you make the transition from Twitter!
Thanks man! :)
Hey I just joined on Wednesday and it's already wild on here. Amazing ppl! I'm on twitter too -- so many wasted efforts. Well awesome story. Come find me @onntastic | See ya on Steemit!
Thanks!
Why have you put a pivx logo on?
I am a supporter of a few coins, PIVX being one of them. They actually pay me for website edits as well. Also launching a coin called "SmartCash" soon, I am the marketing arm of that coin as well, should be live in a couple weeks. I do hold 80% of my life savings in Steem though, fair enough? Lol
80% of your life saving in Steem? Wow!!! I like how you think, I hope it pays off for you, and I think it will.
Hope you will enjoy your stay here!
Welcome to steemit :) thank you for sharing your story!
Np, thank you for taking the time to read and comment it!
Cool story ang good writing!😀
Welcome to steemit and hope you have fun in here. Since you're not new to cryptos, it would be an easy transition for you. Just stick around and read guides regarding the platform and you're set to go😁
Keep those trading stories coming and hey, you could start a crypto trading guide here in steemit
Thanks! Will consider that, heh :)
))...умора,..какое отношение трейдер(по сути торгашь) имеет отношение к криптографии???...руководство по торговле- это да..согласен
Welcome to the community man! And appreciate that you have written a lot to let us know so much detail of your background. That really need a lot of effort! And I think the photo in the heading should be you, I suggest you make one showing the steemit logo, it will become a more completed self-introduction XD
Thanks man! Will take a look at the picture thing, heh
Great post Sherlock. Crypto is a wild ride for sure. I have a similar story so I can relate. I think the next couple of years are going to make a lot more crypto millionaires. Hope you're one of them.
Thanks man, hope you get to be one of them too :)
Ha nice to see you on here mate! (I'm Soul Eater on twitter BTW).
Thanks! Nice to see you around here too man!
Hey Kadu!
Really enjoyed your post and some very solid investment tips in there - very much appreciated!
While I agree holding small alt coins long-term is probably not a good strategy, I do think long-term investment does make sense for some of the bigger ones.
For me I am long-term on Bitcoin, Ether and Steem and happy to take any of the dips along the way. It's a kinda 'Retirement Fund' that I don't want to touch for 20 years as I am convinced that way I can leave the value to keep multiplying!
Anyway thanks for your valuable contribution and really well written, just followed you and look forward to seeing more of your posts!
I completely understand it. What I mean is more like it's never a sure thing and that it shouldn't be money you couldn't afford to lose. If all of crypto crashed today, even though extremely unlikely, would you be fine? If yes, then by all means, a long term strategy can also be very profitable. :)
Thanks for your comment!
Probably the best intro post I've seen on Steemit, so far! xD
I was very impressed too lol
Thanks man!
You're welcome, @Kaduwall!
Welcome, Carlos!
I made a custom animated follow button for you if you want to use it for future posts. Good luck! :)
Just right click and save it as an image.
Hello clunky! I just found your post. Is it possible to make me one of those animated posts as above? I upvoted you here, and will continue to pay you! You should turn this into a little business! Thank you
Sure thing, here you go :)
Thank you so much clunky! ( reply back so that I can upvote you again and pay you).
Alright, thank you :)
Me too x
Thanks hahah!
Can you make me one too?
No problem! :D
Thank you!
Mate, that looks very dope. Could you make me one too? :/ ^^
A writer, who knows how to write well. I love it. Welcome. I'm following you... you're going to be a big name here soon I can tell. Going to follow you.
Welcome to Steemit :) followed you!
Nice to meet you! Good luck!
Welcome to Steemit @kaduwall
I love the details of how you shared your crypto trading life... and that everything is going back on track now. Congrats and enjoy steemit. I enjoyed the read, it is not boring at all... Followed you to see more of your posts.
Thanks a lot!
you're welcome...
cool post, nice story.
Welcome to Steemit! :)
Welcome to the community, your English is amazing! I find your writing to be very interesting can't wait to see/read more!
Thanks! That means a lot!
Really quality intro post! Welcome to steemit!
Welcome to steemit
you will be a great steem super star
Hi and welcome, great text and good information & yes i found> it interesting :D
Welcome and congrats to your first post. That one went higher than some of the crypto-charts i've seen during the last weeks. Followed. Would love to read other posts about the crypto-market from someone with your experience :)
Con affetto
#ilsignore
This post received a 2.4% upvote from @randowhale thanks to @decentralizd! For more information, click here!
Wow, thank you!
Congratulations @kaduwall!
Your post was mentioned in my hit parade in the following categories:
followed :) stay in touch and
STEEM ON
Hello! I love your post kaduwall! Good information for someone like me- new learner about crypto's. I have added you to my follow list. I look forward to additional posting from you. Again, Welcome to steem.
Really good post!!
Would appreciate if you can share some tips/resource links/blogs/articles which would help a newbie learn
how to research and what to trade
when to buy/ when to sell
etc..
Will see if I can come up with a post about that later or something like that. Thanks man :)
Would appreciate that !!
Hey .. @kaduwall
I would Like to apprecite the effort your doing ... Your showing us valuable content and also to the community . I really love the way your doing effort..
You made really great post for the community and I am very much intrested in your post and I hope that You will share valuable content in future too . Your Love and effort really apprecited by me @sophiaolive
I suggest you to please visit my blog . I published an into article you can check that article for my introduction ...
Here is the Link Of Intro
Regards Sophia Olive
I am in Love with Your Work ♡♡♡♡
Well done Sherlock, this should help people that are new to crypto, as well as others that have been into it for a while. Looking forward to more posts from you soon.
Great first post, @kaduwall!
I'm still very new to the whole cryptocurrency thing, but getting up to speed quickly. Your words of caution are helpful. I'll definitely take them into consideration, as I also have friends who preach the 'just hold strategy' you mentioned.
Looking forward to more of your post. Look, I found a totally irrelevant welcome gif(t), just for you:
I'm also new to Steemit. Been checking out all the cool content that's here over the last week. So much! If you haven't already, I recommend you do the same. Looking forward to interacting and posting a lot of cool, valuable stuff here.
I will be posting my 'IntroduceYourself' post shortly. Just waiting for my vid from bad ass biker Big Mike…(really excited!).
Hope you’ll have a lot of fun here!
Boa, Kadu! Realmente inspirador. Finalmente criei minha conta aqui rs
$10k bitcoin by next year. Hold me for it. If it doesn't turn out that way, I'll buy all your bitcoins at market price.
Great post. I, myself, have just started trading cryptocurrency (May 2017) and hope to have the same success you are having. I will certainly take your advice and suggestions.
Could you please go in further detail as to why you are skeptical of Poloniex? I currently use them as my exchange. I would hate to lose all my BTC if they were to go under.
What sites do you use to keep updated on cryptocurrency news?
Thanks! Well, they were having a lot of server issues which was a 1st red flag for me, but what really bothers me is that they are showing a complete lack of support. Many ppl can't even withdraw all their money from their exchange because of their limits. Also, they haven't been answering tickets to verify them and increase their limits. I'd recommend Bittrex instead.
As for cryptocurrency news I basically just read bitcointalk, twitter, coindesk and talk to friends. There are other sites at times but these are my main sources. I'll surely keep an eye on steemit now too, heh.
Thanks for the pointers. Looking forward to the challenges of trading. Hasn't been a positive start but hopefully I can afford the tuition to learn.
No problem. Do more research, improve your game. Not entering a trade when you are not seeing a good setup sometimes is the best thing to do. Have patience, persist and you'll have success. Best of luck to you!
Don't lie bro you rely 100% on twitter for trade signals... XD
Hahah xD
Solid advice. You said, "Of course you can HODL some altcoins you believe for the long run after some good research, but if you decide to do it, make sure it's an amount of money you can afford to lose just in case things go wrong." This is one of the biggest things people should consider. How much can you actually AFFORD to lose? If you have a chunk of change that you can invest, and it's not keeping you from feeding your family (or your dog/cat), and you CAN lose it, then after studying up, invest in the dip. Thanks for sharing your story!
This is very inspiring! Any advice for someone new to cryptocurrency, trying to get a firm base set up?
Nice story, Carlos! When I was first starting in the crypto world, I was caught in the hashdollar scheme, do you remember that? It was a small amount, but sufficient for me to learn my lesson. All the best!
Welcome to Steem @kaduwall I have sent you a tip
Again, Thank you @kuduwall! Don't know why, but I start getting emotional every time I read and re-read this (for the nth time). I feel this is just what I needed at this point in my life.
Really glad to hear that man, it means a lot!!
Look at you man! Making 339 on your first post.
It's about time you joined :)
Can't wait to hang out with you and @dudutaulois when I visit Brazil. He's been telling me how crazy it can be hahaha
Bud - @aboundlessworld
Welcome to steemit! Looking forward to your future posts!
awesome post man ! keep it up. Are you helping other people with trading ?
Took me a while before I my hands on my laptop,. Nice article sherlock.
Welcome to Steemit @kaduwall :)
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Welcome to Steemit @kaduwall!
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Welcome @kaduwall
Incredibly good post, looking forward to your postings in the future
Followed, upvoted and resteemed.
Mate, don't get how you can say you made "Okay" when you made 20+ BC out of 0.5 . thats's a great prefomrance. Really enjoyed your introduction. And I will leave a follow. :)
Im glad u havent stopped! keep hodling on! I am!!!i agree with your article, and I havent made major losses as you yet. Im sticking with the big coins or assets with promising technology. Hope everybody on steemit keeps powering on!