Sirwin
Sirwin

How I lost 200USD in Crypto

By B. Em | Stack of Sticks | 4 Mar 2024




*Video Script*
The time I lost some money in crypto mining, this was a few years ago during the last bull run around 2021, I had a decent job with a decent income, I had built my own website and wrote about differnt cryptocurrencies and I had a section for crypto mining, now this section was very short and I thought I needed to add more to it, one day I was talking to a friend about crypto and he asked have u done crypto mining, he made it sound exciting and in my head I also told myself I need to write more about it on my website so maybe I should see how it works, so after that conversation with my friend , maybe a few days later I logged on to a site similar to baked beans where you would get rewarded BUSD, or BNB, you were able to choose, I chose BUSD  which was a stablecoin at that time, I put in a substantial amount of funds in, kind of hefty now that I look back at it, but anyway, yea I put like 500 USD into it, I dont like giving real figures but this video is to help you guys, so after I put the funds in I had to wait a day to claim some of my funds, so I waited and was able to claim like 100usd, then the next days after that like 50usd, and the amounts just kept decreasing, 25, 3usd, I got in toward the end of the bull market so what ended up happening was that the amount I was getting was so low that it wasnt worth paying gas fees to withdraw that amount, like for example I wanted to claim my 2 usd from the miner but the gas fees were like 2usd so it wasnt making sense for me to even claim anything, so i just stopped using it, all in all I ended up losing like 200 usd, with those type of miners you have to be in very early on, I personally wudnt recommend any but in the end I learned how miners worked, and also learned to read smart contracts on the way so it helped me in that sense I dont regret having put that amount in. I would say it was a good learning experience.
*Video Script Draft*

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B. Em
B. Em

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