Today there will be no success story, but this will not make the story any less interesting. I’ll tell you about how I bought and sold bitcoins last year, and what came of it

Background

In order to understand what was driving me at the time of my first purchase - I heard about bitcoins a long time ago, back when they were $20. In 2013, I even wanted to buy at the rate of $120, but soon changed my mind. A month after the desire, they already cost $1000 apiece. I bit my elbows

Soon the bubble burst, Bitcoin fell, and everyone calmed down.

The second time I returned to cryptocurrency was in October 2014. I accidentally saw the exchange rate chart, it looked like this:

For some reason, it seemed to me that the fall was about to stop, stabilization would begin, and then a sharp increase again. And on October 21, I bought my first bitcoin.

(It must be said right away that these were not bitcoins in their pure form, but their analogues in webmoney - wmx. That is, in fact, currency exchange within the keeper itself. I did not plan serious trading, I just wanted to try my luck and, since on webmoney I had dollars lying around, spent them on a couple of bitcoins. All exchanges were made through this site)

Approach #1

On October 21, 2014, I bought 2.6 bitcoins at a rate of $384 per piece, paying $1,000. This was the amount that I was not afraid of losing.

Almost immediately, the exchange rate fell by 20%, and I was in the red by $200

A week later, the rate began to rise and at the very peak managed to sell all the bitcoins. Net profit for 1 month was $140. Then friends in the social. networks also wrote that they followed my advice and got a little welded ( tyts 1).

Result:$1000 - deposited, $1140 - withdrawn. +$140

Approach #2

It's like a casino here. If you win the first time, then it's hard to stop. After waiting for the course to sink a little, I bought again. This time I increased my investments, purchased for $2200 at the rate of 343.

And, as in the previous time, almost immediately there was a fall. The price fell by 7%, for me it meant that so far -150 dollars.

For this case, I already had a strategy: if the price falls, then I buy the same number of bitcoins at a new price, thus reducing the average payback rate. Therefore, I purchased another $2,000 worth of bitcoins at a rate of 319. Now the rate at which I would have reached $0 is $331

After another 2 weeks, the course collapses again. By all accounts, I'm already $1,000 in the red. Do not leave the thought that in vain all this started. But the mind tells you that you need to buy again. It was very difficult to overpower myself, but still threw in another 3,700 dollars. Total at this point in bitcoins is already $ 8,000. The payback bar drops to $305 per bitcoin. I'm looking forward to this course.

But, as is often the case, I underestimated the size of the fall. A new week and another price collapse. Now it's up to $170. I understand that in just 2 months I lost $3,500. All this happens during the January holidays.

My nerves did not allow me to purchase new bitcoins again. But I also decided that I would not sell. If it burns out, that’s fate. Previously I hoped that I would catch the growth of the bubble, now I hope that I will pay off only after many months. The money is frozen in bitcoins and it will be possible to withdraw it at a price acceptable to me only in 1-2-3 years. Will wait

And so six months passed. Didn't do anything in particular. But my nerves didn’t let me go, I checked the course every day. It either rose to 290 (I needed 305 to break even), then dropped to 220. Of course, this also affected the rest of the work; it was not possible to fully concentrate on other projects. I was constantly afraid of missing out on some peak where I could sell well and get my money back.

It was only in the summer of 2015 that the rate began to approach the level I needed. For a while I jumped to 310, then dropped a little. And then I couldn’t stand it anymore and sold all the bitcoins for $292. Literally two hours after that the rate collapsed

Result:$7993 - deposited, $7514 - withdrawn. In the negative by 479. And if we add past profit here, we get ( -$339 )

Approach #3

At the end of summer the rate dropped. I could have calmed down, but I couldn’t let go of the thought that the whole experiment was a failure. On August 22, I again bought a batch of bitcoins for $1,300.

Stability is a sign of mastery. As you already guessed, there was a fall again :) But he didn’t change his strategy and again bought for $1,400. Now I have a little more than 12 bitcoins in my hands, purchased at the average rate of $218

Result: after a year of trading I succeeded $12,000 dollars turnover and a small plus (I rounded in the calculations, but on my wallet it turned out +146 dollars)

conclusions

1. I didn’t (actually) earn anything.

2. A few months after my sale, bitcoins doubled in price (now at $427).

3. I realized that I don’t want to do this anymore, nerves are more valuable

P.S.

With this post I want to show what the desire to “catch the bubble” actually looks like. When you look at the charts over the past time, it seems to you that “here I would buy at the bottom, and here at this peak I would sell and make a 5000 profit.” In fact, in front of you Blank sheet, you don't really know what's going to happen next. This is roulette. Of course, I read the market news, tried to predict price movements, but with the same success I could have just tossed a coin.

I didn't make 100% profit, but I didn't lose anything either. And this is only due to the fact that at the moments when the rate dropped from 350 to 170 dollars, I took even more risks and bought a new pack of bitcoins. Investing more and more money. It is very difficult psychologically. And, of course, it requires a lot of available funds.

I concluded for myself that I would rather earn 100% of my profits through websites and social media. networks :)

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“I think with bitterness how much richer I would have been if I had had the courage earlier,” journalist and columnist James Delingpole began his article on spectator.co.uk, talking about buying his first cryptocurrency.

Every time I write about Bitcoin, my readers take the article as a signal to take decisive action. The last time I did this was in 2014, Bitcoin was trading at $935. If you were inspired by my words and invested your capital in BTC, you would double your savings in just a few months.

However, at the time you were probably thinking, “What the hell? Everyone understands that this cryptocurrency has no future!” However, all investments pay off over time, right? If you had suffered Bitcoin's slight decline in 2015, you would be a millionaire by now. I won’t even try to name the current Bitcoin rate, because while you are reading my article, it may soar even higher, or, on the contrary, it may continue its correction and again lose 25% in a day. Obviously, if you want to get rich or lose your money, then the volatile and exciting cryptocurrency market is just what you need.

The author of the book “Bitcoin is the Future of Money” Dominic Frisby once said that Bitcoin is the greatest money making opportunity that any of us has ever seen. Considering that this statement was published by him back in 2014, you can imagine that he woke up rich one day. However, an attack was made on his online wallet, after which poor Frisby decided that it was best to invest in gold.

But my stepson moved to Hong Kong 5 years ago and was among those who intended to join this “cryptocurrency fever.” One of his comrades bought his own club using Bitcoin, and then he asked the question “Why didn’t I buy Bitcoin then?”

And really, why? In hindsight, it is easy to see why BTC is the best investment opportunity. Even I knew this and that's why I bought some Bitcoins. Not as many as we would like - less than ten. And here’s an interesting thing: the investor’s psychology is such that I am not at all happy with the tens of thousands that I earned. I think about how rich I would be if I had the courage to buy more Bitcoins.

I feel like Samuel Pepys, who sold his shares in the South Sea Company and then watched those who kept them get richer. However, we know that this story did not end very well. But will the same thing happen with cryptocurrencies? Nobody knows, not even experts like Frisbee.

Some serious market players think that Bitcoin Cash is the future, others have invested in Etherium, and others even believe that Etherium will end where it began. And there is JPMorgan Chase CEO Jamie Dimon, who is convinced that Bitcoin is a bubble and a scam, and the people who buy it are stupid.

But I believe that Dimon’s statement is wrong, since cryptocurrencies are just beginning to develop and become part of the financial mainstream. I recently spoke with old-school trader John Cruz, who specifically came out of retirement because he believes he simply cannot miss his chance with cryptocurrencies. He is about to launch a company called Ankorus, which he says is the first to allow people to trade cryptocurrencies like traditional financial assets.

Cruz says: “No one will admit it, but we have been in a depression for the last ten years. Of course, stock markets rose, but only because of market manipulation, and hardly anyone on Main Street benefited from it. Governments just don't know how to get out of this mess, and cryptocurrencies could be the answer to all the ills." Yes, Cruz is aware that cryptocurrencies are a highly speculative instrument, but they have captured the minds of many on Main Street and also made ordinary people rich, encouraging them to actively participate in the world of finance. Cruz noted that the growth could reach the moon without anyone getting hurt.

Today they started talking about Bitcoin in minibuses and in kitchens. Usually they say that at this moment you need to fixate yourself, since everything is about to collapse. But here we must understand that the situation with cryptocurrencies is difficult to predict. I’ve been hearing the story that everything will collapse for years, but Bitcoin is already worth $10,000.

I remember a year ago I - then it cost a little more than $700... On May 28 of this year I told you how to buy bitcoins at 2300. And today - 10,000. Tell us in the comments who bought bitcoins on my advice? I wonder if there are those who even 5 years ago went into cryptocurrencies, and today every dollar invested then turned into a million?

As for my position, I still treat this whole story as a casino. If you have extra money that you don’t mind losing, then you can play. The main thing is not to invest the latter, not to panic, but it’s probably better to put it down and forget it.) In a few years, buy yourself an apartment in Miami or find a donut hole.

In the meantime, my friend crypto tycoon Sergei Sergienko and I continue to educate the population. Here are the answers to your questions:

- What happened to Bitcoin? Why is it growing like crazy?

Today another Bitcoin high was broken - over $10,000 - and everyone is shocked that it is growing so much.

It grows for several reasons. First, the Chicago Board Options Exchange announced that it would be adding it. Secondly, the Chicago Mercantile Exchange announced that it will add bitcoin futures: the minimum contract is 5 bitcoins, the increment is $1,000. This means that institutional money is coming to Bitcoin, that all sorts of pension funds and family offices will be able to invest in this business in dollars.

- So Bitcoin is perceived as something reliable?

Confidence in Bitcoin is growing. There was a pump for Bitcoin Cash two weeks ago: they tried to make Bitcoin Cash overtake Bitcoin. That is, the guys conspired and began to download Bitcoin Cash, but they didn’t succeed. Therefore, people are beginning to understand that Bitcoin is not a transactional thing, but a preservation of what exists.

In the past (although there was never a consensus), some people viewed Bitcoin as a transactional thing, others as a wealth storage tool. I am more inclined to believe that this is the preservation of wealth. And after other guys tried to pump Bitcoin Cash, it offended many. Because of this, people are beginning to come to terms with the fact that it is like gold, that is, a long-term investment.

Retail money is also coming. Moms and dads are starting to become interested in this, and already more than 13 million accounts are registered in COINBASE - an increase in the number of wallets by 167% compared to the last goal. Bitcoin is becoming mainstream in the West.

- Does this mean that people will save money in bitcoins?

You need to understand that just as a piece of gold can sink to the bottom of the ocean and you will never find it, more and more wallets with bitcoins are being lost. There are now 16-17 million bitcoins declared, but we can safely say that 6 percent of them are lost forever. People are starting to realize that the number of bitcoins is limited, and they are starting to hold onto it.

- Now the most important thing: what will happen to Bitcoin in the near future? Will it continue to rise in price or will it collapse?

Bitcoin may rebound from the $10,000 mark it is heading towards because, from a psychological point of view, this is a very good mark to take profits. Those who invested money earlier will begin to withdraw it at 10 thousand, so Bitcoin may slow down a little. But if other exchanges, for example the Chicago one, announce that they will trade futures, then everything will be fine. The explosive effect of this case has already begun: the more people learn about this and the growth rate, the more fashionable Bitcoin becomes.

The capitalization of the entire market is approaching $300 billion – this is Bitcoin together with Litecoin. Bitcoin accounts for about 60 percent of the entire market. “Entering” into cryptocurrencies is always primarily done through Bitcoin.

Today it is expected that Bitcoin will break the $10 thousand mark, although it was already broken on the Korean exchange yesterday. On some Korean exchanges, Bitcoin reached levels above 10 thousand in the equivalent of Korean won. This is a good milestone, because more and more people are interested in this, and people are starting to come to crypto en masse.

- Okay, more and more people want to be involved in the topic of cryptocurrencies. Everything is clear with bitcoin. What will happen to altcoins?

Along with Bitcoin, altcoins are also growing, but Bitcoin maintains its share of all cryptocurrency transactions at 53.5%. The capitalization of the entire market, as I already said, is about $305 billion. When the dot-com bubble arose and burst, there were, by some estimates, between $3 and $5 trillion. If we make a small adjustment, it becomes clear that this cannot always happen. Naturally, next year projects will begin to fall off, and this will be a shock to the market. As projects fall off, everyone will still jump to Bitcoin because it is original. In theory, this could mean that Bitcoin will continue to rise.

Altcoins will begin to collapse because the promises that people made at the ICO may not be fulfilled. For many, the roadmap is ending in 2018, and promises will be broken.

Moreover, people usually flee from Bitcoin (to take profits) to USDT - this is a token that is backed by American dollars. The problem here is that this is a token that is made by American exchanges, that is, it was made by Bitfinex. There has never been an audit. They say that for every token that was issued, there is a deposit of US dollars in Taiwan. But no one has ever seen these deposits, and the people begin to panic. A couple of weeks ago there was a rumor that USDT was a scam. That is, if something suddenly happens to this, Bitcoin will rise again, and USDT will collapse and “shave” everyone very much. I even know some people who got into USDT and are now starting to get a little worried.

- Are there things that could weaken cryptocurrencies and specifically Bitcoin in the near future?

From the point of view of investors, you just need to watch what is happening and take profits as it grows so that everything doesn’t collapse at once. The risks to Bitcoin exist, and they are very real. For example, one of the top exchanges will be hacked. Or an increase in the number of forks: if there are too many forks, you cannot believe too much in Bitcoin. For example, the owner of Bitcoin.com is actively pumping Bitcoin Cash. New people who are just getting into crypto and typing Bitcoin.com may get confused and buy Bitcoin Cash, thinking they are buying Bitcoin. This undermines trust in the Bitcoin system. There is also a risk of unclear regulation: without understanding what is going on, regulators can simply say “goodbye!” and send everyone. Although this risk is less. But all the same: if regulators run, for example, into the office of the exchange and put everyone on the floor to show that they can do this, this will undermine faith in the crypt and in cue ball in general.

- You have cryptocurrency. What to do with it? And what should those who don’t have cryptocurrency do yet?

From a trading point of view, if you have a profit, I would quietly fix it - this is actually normal rational behavior. If you are not in crypto yet, then there is time to look and think. According to forecasts, I expect only growth, and long-term growth, so decide at your own discretion. There is no need to invest your last money in crypto. Be careful with scams. Now they are starting to promise people 1000 percent a year without any reason. I am often asked what sites I make money on - there is no such thing. I don't make money through websites. I make money by raising rates or by bringing projects to ICO, or by my ChronoBank project. You can’t just make money on some site. Beware of scams: if “earning money” means simply poking the mouse at the screen, then you need to stay away from it.

They paid off as promised: +70% since December, if you count up to $5577, the 2018 minimum. Now the crypto sector is experiencing a small but intense rebound (up to +10% per day), and the question is not whether to sell Bitcoin at all, but whether to continue selling it. According to the managers of Golden Hills - Kapital AM, the answer to this question is affirmative.

It is generally accepted that the cryptocurrency rate is something like a casino. It is usually said that the rate may rise due to limited supply and the relative security of transactions. This coincides with the material known to every college graduate, and is therefore perceived as reliable knowledge. But reality is far from these theoretical constructs. The crypto market is more dangerous than just a casino because people are unreasonably confident that it is a cache generator.

In our opinion, the crypto sector actually sometimes shows absolutely extraordinary growth of 9-10% per day, but this is an argument not “for”, but “against” purchases by conservative investors. Imagine if tomorrow everything you are used to buying suddenly rises in price by 10% - how could that please you? What doesn't bring people pleasure sooner or later becomes cheaper.

What drives bitcoin

One of the reasons why our managers' views on cryptocurrency have not yet improved is that various analysts are unable to put together a single picture. Agree, it is unlikely that the same movement of Bitcoin should be explained in completely different ways. Either it is connected with purchases of a new exchange-traded fund for Bitcoin by banks and large funds, or with Blackrock’s participation in the purchase of relevant instruments, or with something else.

It is wrong to explain the growth of Bitcoin either by the appointment of a well-known crypto trader as the head of the investment division of a large bank, or by the emergence of payments for cryptocurrency in online stores, although both have occurred in recent months, because individual details only partially reveal the essence of the issue about the reasons for the growth and prospects of Bitcoin.

Cryptanalysts explain the increase in the price of their main product in different ways. This may be fine for those who deeply understand the subject, but it does not add to their credibility, especially considering that even experts are still unclear how high Bitcoin will fly.

Part of the expert community considers it possible to grow to $80,000, another part - to $1 million. It does not add clarity to the fact that if you look at what is happening through the ratio of trading volume and prices, as some experts do, then, generally speaking, it is difficult to judge them , since Bitcoin is a “black box” in which transaction participants are not visible.

It is more realistic to explain the growth of Bitcoin by actual and potential ramifications of the progress of the crypto industry (SegWit, MAST, Schnorr), increased security and transparency of payments.

What's really happening is that with every surge in demand, agitators rush in for a new money surrogate. For this reason, I would like to repeat: be vigilant and do not give in to universal temptation. It is likely that from week to week another round of reduction in cryptohype will begin. At the end of July, Bitcoin had already started to fall from a local maximum of about $8,000.

Why bitcoin is doomed

Our managers are confident that serious investors will not mess with Bitcoin and will short it at the first opportunity. In this regard, the relevant question is why is this digital asset growing in price and why is it doomed?

Firstly, the implementation of the SegWit “fork”, which took so long. SegWit is a device for protecting signatures from hackers. In essence, signatures are simply removed from the transaction into a separate structure.

It is paired with an additional field that acts as a lock that opens access to the open cipher and provides proof of address ownership. This is very old idea, which was gradually implemented in order to make Bitcoin sustainable payment system.

But as a result, we all understand well that almost every miner views cryptocurrency as a space for growing ordinary currencies, or fiat, like cucumbers in a greenhouse. As a result, the “fork” once again proved that Bitcoin is a type of multi-user computer game, in which protecting money is one of the functions of the participants, for the implementation of which they are always coming up with something, but they have never found a universal remedy.

Secondly, this is MAST - breaking a smart contract into parts using a code structure. If we simplify it to individual elements that are stored in different places, then valuable information is more difficult to steal entirely, since the loss of one block changes little.

Along with the division of the code, its length decreases and free space in storage blocks increases, and security also increases. At the same time, changing the code structure further reduces the data array of individual blocks and simplifies checking the ownership of individual sections of the smart contract.

From our point of view, MAST is a stimulus for the development of blockchain, but not necessarily based on cryptocurrency. It is much more profitable to purchase a portfolio focused on blockchain and sell it on time than to see growth potential for cryptocurrency in every step of a new technology. The past few months have proven that this potential is not commensurate with the risks.

Thirdly, Schnorr (in Russian, Shnorr) is new scheme digital signature, implying joint approval when transferring money in the payment system. This is not to say that Schnorr has already appeared; rather, it is in a state of development.

We are talking about a technology that supports the accumulation of keys into one, provided for verification instead of open source. It is believed that this innovation will cause the most modern and powerful change for Bitcoin since the “fork” that separated the public part of the key from the fuse. The world is on the verge of moving to new cryptographic ciphers for storing and sending Bitcoins based on a multi-party signature.

The Bitcoin community is positioning Schnorr as a way to fight for increased security of personal content and for scalability, but it seems to us that this is just a new challenge for hackers and spammers (Bitcoin networks are subject to spam attacks). A multiparty signature differs from a regular electronic digital signature only in that it involves several participants, which makes hacking a little more difficult, but does not guarantee against it.

Unlike a conventional signature, a multi-party linear Schnorr signature forces the key to be included in the cipher's security field. If the transaction is not from an address participating in this multi-party scheme, then the data storage space risks becoming longer, not shorter.

How to be

Will SegWit, MAST and Schnorr force us to rethink the future of Bitcoin as a savings tool? Hardly. As an alternative investment, you can consider, for example, shorting individual cryptocurrencies.

The main arguments for their sale and, in particular, for quickly getting rid of bitcoins, remain a serious excess of cost, which, according to various estimates, is no higher than $3,000, and the price is too high for the convenience of transactions in whole lots.

Neither SegWit, nor MAST, nor Schnorr will protect the crypto sector from theft, from the lack of connection with goods from the real sector or services other than those that are already prohibited, as well as from the destructive anonymity of payments, which forces states to unexpectedly introduce new regulatory levers.

It remains to add that experiments are already underway around the world to create state-owned cryptocurrencies and it is unlikely that anyone will want to compete with the authorities in the field of money issuance.

After Bitcoin fell by 70% from the highs of December 2017, even dynamics of plus 10% per day must be perceived in the context of increased risks. It is much more effective to invest in securities of companies going public with high capitalization and an expected return of about 33% per year.

How Bitcoin ruined me: stories of failed investments

Thanks to cryptocurrency, a huge number of millionaires have appeared both in Russia and in the world in just a few months. Many of them became such involuntarily: they bought Bitcoin in 2012, happily forgot, and sold it in 2017 for 18 thousand dollars. Others painstakingly studied the cryptocurrency market, played at the races, experimented - and eventually earned impressive capital. The Internet is full of success stories, as well as manuals for buying and mining cryptocurrencies.

But there are those who went broke in this business, made a bad investment - and for some reason few people want to talk about such an experience. Kemerovo Newspaper found such crypto investors and talked to them about how Bitcoin ruined them and why they will now bypass crypto a kilometer away.

Anton Rudenko, 28 years old, system administrator

I heard about bitcoins a long time ago, when they cost several dollars apiece. I remember reading the news about how a guy was able to pay for pizza with a few bitcoins and was incredibly happy. I didn’t really know what cryptocurrency was, and I thought that it would be difficult to find a use for it in Russia, and “playing Forex” was not my thing. Then I didn’t even think about buying at least a couple of cue balls.

The next time I came across them was in 2013, when the rate jumped to a thousand dollars. At that moment, for the first time, I regretted that I had not invested several years ago, but the rate quickly collapsed, and the hype happily subsided.

A year later, in 2014, I finally decided to invest in cryptocurrency. Well, how to invest - in the fall I bought almost four bitcoins worth a thousand dollars. And just a few days later the rate began to grow rapidly, I sold my four bitcoins at the peak, and earned about 200 bucks on the difference.

Such easy income, of course, inspired me. I waited until the rate dropped again, this time to $300 apiece, in my opinion, and bought almost $3,000. True, instead of growing, the value of Bitcoin fell even more, but not by much. I decided to wait. A month later, the rate did not even think of growing, the cue ball continued to fall, but I found myself in the red by more than half of the invested amount.

Instead of calming down, I decided that this was a good time to buy bitcoins again at such a low price and wait further. Which is what I did. As a result, my investment amount grew to approximately $6,000.

The rate continued to fall: this happened in early January 2015. At that time, I invested all my available funds in crypto and prayed for a New Year’s miracle, but it did not happen. The price of Bitcoin fell, in my opinion, to $120. I waited about a month, but the rate remained approximately at the same level. When it reached $170, I couldn’t stand it and sold everything. As a result, out of six thousand, I was able to return only about two.

Of course, now it seems to me that I could simply “forget” about those bitcoins that I had and wait a few years: now I would become a millionaire. Although at that time the situation looked critical, and I thought that if I didn’t withdraw at least part of the investment, I would lose everything. Unfortunately, I was wrong.

Sergey K., 29 years old, manager

In 2009, my friend urgently needed cash. He offered me to exchange 15 thousand rubles for 400 bitcoins. At that time, Bitcoin was worth about a dollar, so the exchange was roughly equivalent. I was somewhat confused by the proposal due to the fact that I did not believe in the value of cryptocurrencies. In addition, at that time in Russia it was impossible to cash out bitcoins, which became another huge disadvantage of this strange deal.

It’s scary to imagine how much these 400 bitcoins would have cost a few months ago. So I missed my chance to be a millionaire. And if you believe the expression “if you save, you earn,” then I, without a Bitcoin wallet, lost more than a hundred million rubles. And it hurts not so much to count your losses as to think about what you could do with this money: buy an apartment, a car and travel around the world.

Evgeny R., 31 years old, sales assistant

I have always been amazed by people who make money on cryptocurrencies. I didn’t understand how this was done, and I didn’t have much desire to figure it out, so I went along the simple way and invested in cloud mining. Invested about three thousand dollars in a top project.

Almost immediately, Bitcoin began to grow exponentially, I was happy that I would instantly make a profit of several hundred percent, but I was wrong. Due to the growth of the cue ball, the capacity increased, so the company updated the equipment. But the capacities I bought became irrelevant, and I lost my money.

Oleg Kuzmin, cryptocurrency expert

You need to understand that the cryptocurrency market is, in principle, a market of high incomes, and, therefore, high risks. If there is no proper diversification in the market, then the risk increases several times. Although people in general suffer from financial literacy, so if the market falls, they start to panic, they sell their assets and go into the negative

This is an activity for the patient: until you sell the cryptocurrency, you are not at a loss and still remain an investor. If you can wait, you should wait. Because with a high probability the price will rise back, it’s a matter of time: a month may pass before this moment, or maybe a year. Unfortunately, many people want to make a profit “here and now”, which is why they are left with nothing.