Mark Cuban Learns Powerful Crypto Lesson

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One of America’s most prominent billionaires should have spent more time listening and less time talking because he made a big mistake in cryptocurrencies and cost $ 200,000.


Do you remember three months before we started our crypto journey? Or, more accurately, Me Did you decide to start your crypto journey and take the rest of you with me?

What I knew about crypto was mainly that I knew. Almost nothing About encryption.

Sure, I knew what it was and understood the basic idea behind it, but how it works, how it reacts to the market, what is an NFT? I didn’t know what a DAO was, or even the best way to invest.

I still feel like I don’t know anything yet … but from a more informed position. Does it make sense?

I feel like I’ve put a few drops in a very large bucket for the past three months. There’s still a lot to learn about how blockchain technology works, and much more to learn how to profit from this volatile investment.

I’ve been digging into crypto as much as possible for beginners, and I not yet Just scratch the dog around the surface.

A good example, my Terrible The timing to enter the market at a time that can only be called the worst time.

Lessons learned in every aspect

I got on the right just before the crash, but until then it wasn’t too bad.In fact, even now and afterwards Cryptographic Black Friday, I’m still doing pretty well and at least one of my investments is still in the black.

No one can say the same thing …

In particular, Mark Cuban, the owner of the Dallas Mavericks Billionaire Reality Star.

Mark Cuban seems to be a fun person …

Mark Cuban

In addition, he seems to know what he is doing with his investment … most of the time.

But this time, he ran into a cryptocurrency issue.

“The Cubes” struggled to learn powerful lessons about DeFi and lost a small fortune due to lack of knowledge.

I don’t think they overcame that innovation with Shark Tank, right?

Well, that doesn’t mean that Cuba is a dummy or that he doesn’t know how crypto works.

He is actually very familiar with cryptocurrencies.

What I’m saying here is that knowing what you’re doing doesn’t give you enough to know about a particular aspect of a particular investment to succeed.

A small important factor can mean the difference between famine and famine when it comes to DeFi.

And it’s understandable that people like us make mistakes if crypto expert Mark Cuban could be the victim of that in every account.

Mark Cuban $ 200,000 crypto lesson

As you can see, Cuba recently revealed that it has experimented with what is called “harvest farming.” There, he bought a cryptocurrency called Titan and “lent it” to the platform.

Basically, he would inject it in liquidity and make money with interest, just as a bank would give someone a loan.

But shortly thereafter, Titan crashed and Cuba was left with a bag.

Mark Cuban Angry

Cuba told The New York Times: “I made money as a liquidity provider and lost money as a speculator. I should have done more homework.”

Isn’t that the key to everything? Do you have more knowledge?

Again, if Cuba, a crypto expert, could get on the railroad, each of us would …

And that idea is a kind of encouraging.

After the cryptocurrency whale abandoned its holdings and caused a panic, tokens dropped from about $ 60 per coin to zero, stunning many.

Cuba in particular lost about $ 200,000 when all the dust settled down.

And that might be a big change for him, but I bet you a dollar on a donut he was as angry about it as you.

His takeaway from then on was that it was wrong to invest in coins that had no reason to exist.

Basically, Titan had no purpose. It was a cipher to be a cipher, so nothing flew straight.

Cuba told Bloomberg after the blunder:

And given the name of the team he owns, he has it straight from the horse’s mouth-quite appropriate.

I learned his lesson …

But you can learn and practice from the same lessons.

We should thank him … although I’m sure he doesn’t want to hear our gratitude.

“There is no law prohibiting stupid things. I learned it long ago.” – Mark Cuban

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The post Mark Cuban Learns Powerful Crypto Lesson appeared first on California News Times.

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