[smtddr]

>>No one would be stupid enough to store their life savings in Dogecoins.

Author must have missed that Reddit thread on Gox horror stories. There were some really awful decisions people made with their savings. I bet someone is going to make a similar mistake with Doge. We already have folks like this: https://news.ycombinator.com/item?id=7166318

[adrianwaj]

Where are all these horror stories?

[smtddr]

http://www.reddit.com/r/Bitcoin/comments/1yv26o/gox_horror_s...

Here are some of my "favorite"(anger inducing) comments:

▻ Poor student, all he had... http://www.reddit.com/r/Bitcoin/comments/1yv26o/gox_horror_s...

▻ Son's college fund wiped out... http://www.reddit.com/r/Bitcoin/comments/1yv26o/gox_horror_s...

▻ Used many credit cards... http://www.reddit.com/r/Bitcoin/comments/1yv26o/gox_horror_s...

▻ Holding coins for a friend(even outside of bitcoin, don't hold money for friends. Usually won't work out)... http://www.reddit.com/r/Bitcoin/comments/1yv26o/gox_horror_s...

▻ Everything he owns is gone, doesn't know how he's going to eat... http://www.reddit.com/r/Bitcoin/comments/1yv26o/gox_horror_s...

▻ Sold his car, put everything he had into bitcoin... http://www.reddit.com/r/Bitcoin/comments/1yv26o/gox_horror_s...

▻ This one is probably fake, too dramatic... http://www.reddit.com/r/Bitcoin/comments/1yv26o/gox_horror_s...

▻ This guy lost $8,550 of his wife's money... http://www.reddit.com/r/Bitcoin/comments/1yv26o/gox_horror_s... ..and if you read all his comments on that thread, I get the impression he's going back in without his wife's support.

Just keep on reading that whole post. At first you'll feel sorry for them, but quickly that sorrow will turn into anger. "Why the @!#&^%$ did you do that?!" is what you'll be repeating in your mind over and over. But none of them beat this one by a Reddit admin from awhile back:

▻ http://www.reddit.com/r/Bitcoin/comments/1c525e/ive_lost_mor... ...just the title alone is epic.

Bitcoin, and all the services around it, are gambles. Never gamble with money you can't afford to lose. Reddit should have a huge red glowing banner at the top of /r/bitcoin reminding their users of that at least weekly.

[winstonsmith]

>But none of them beat this one by a Reddit admin from awhile back:

Are you saying Nathanspups is a reddit admin?

[smtddr]

I think I'm actually wrong about that. I could have sworn I saw an "[A]" next to his name somewhere.

[nols]

I think that's exactly the counterpoint he was going for, people would be stupid enough to put their life savings into BTC but not dogecoin.

[catshirt]

the real horrifying part is not that they lost their money but that they invested it.

[mcv]

Particularly, that they picked a very risky investment for money they couldn't afford to lose. There's nothing wrong with investing money you need, but you should invest it in a safe, low-risk way, like a savings account or bonds or something (though those have turned out not to be entirely risk-free either).

High risk investment, like, oh, some totally unproven payment technology, is only for money you can afford to lose.

[mpyne]

/r/bitcoin probably.