Worst Financial year ever

Everything I touch turned to dust this year. I’m still on my anti-depressant medication because otherwise I would have killed myself by now. Seriously. Let’s count the ways.

-in Jan, Korea had the crypto premium at 40%. I didn’t make use of the crypto account my gf made for me, and the premium is now completely gone.
-In Jan, I had a gain of 50k on my crypto. I didn’t sell or take profits. Now I’m down 170k. That’s a swing of 220k. +50 to -170.
-In Feb, the only ICO I invested in last year at $1.10 each debuted at $4 each. I could have sold right then and there and took $30k profit but of course I didn’t. I kept holding, and now this month I sold it at $0.90 each. Yup, I lost $2k when I could have been up $30k.
-In Jan/Feb I invested in a lot of stupid risky ICOs – over 20 of them. I thought if even ONE of them did a 10x I could make up for the other ones. Nope, turned out ALL of them except two went down 80-90% and the two that made me money only went up 50%. That hardly makes up for my losses. I’m down 37 ETH on that.
-In Jan/Feb I took out 3 loans to average down for a total of 85k + 5k in origination fees/interest. And… the market went down 70% since then. So yeah, that was stupid as well.
-I sold off all my stocks at the beginning of the year to put all into crypto. The AMZN/TSLA/NVDA stocks I sold subsequently went up 50%+ and crypto went down 70%. FML.
-In Apr/May I got scammed 1.5ETH by people pretending to be admins on telegram.
-In Apr I lost $2300 shipping a package because I didn’t use the USPS Priority mail and it didn’t have tracking to Canada. Buyer complained, I had to pay it back since I had no way of proving it was delivered.
-Worst timing ever. I sell EOS and ETC, a few days later it goes up 20%. I sell BITG literally the next day it jumps up by 50%. Why? why does this happen to me?
-In June I put a lot of my money into masternode coins to try and stabilize. I sold off a lot of coins at the bottom because I wanted to make some stable income. Well guess what, those coins are up 30-40% now, and my masternode coins are down 70%. Of course. One of them even went down 90%. I lost over 2 BTC on those. Even when I am trying to stabilize I end up losing money.
-In June when I was trying to get my place renovated, the movers lost my $1000 camera. Seriously, wtf? I can’t even get something as simple as moving my items done without losing money???

So yeah (and don’t forget my gf broke up with me early in the year, my job gets more and more tedious and I’m on meds now) this is easily the most horrible year I’ve had in recent memory. Please, please let this year end soon. Last year was boring but I was at least steadily gaining money. This year, 1/3rd of my net worth is gone, and everything I try to do to get it back only loses me more money. What is happening to me? I must be the anti-Midas touch. I even lost my friends money as I got them into the same masternode coins. My only saving grace is I really hope my apartment sells for above market value to at least make back for some of my losses…

Things are not looking good so far

On Jan 1, 2018 it was hard to imagine things turning out the way that it has these days. At the beginning of the year, I had made over $50k on the crypto market, and I had the opportunity to make an additional 40% ($20k) by transferring it to my Korean gf’s crypto account that she made for me and selling it in Korea, since Korea was trading crypto at a 40% premium at the time. I was on pace to having the best financial year of my life, and I had a beautiful, sweet, loving Korean gf who was waiting for me in Korea. All I had to do was transfer it to Korea, sell everything, quit my job, move to Korea, and I was set.

Easy right? Well not so much. I was reluctant to sell my crypto assets because I was too greedy. All my friends had made more money in crypto and I was envious. I wanted to make more. I didn’t trust my gf fully enough because we had only dated for a few months at that time and I felt uneasy transferring such a large amount to her bank account. I wanted to make just a little bit more on the arbitrage before transferring it. I wanted to get a loan so I could dump more in it and take advantage of the arbitrage. I called my bank and they were unwilling to offer me anything. I tried another bank and they declined as well. Frustrated, I began looking online for anybody that would give me a loan. As luck would have it, I found three lenders, who were willing to lend me $85k in loans but the problem is – the loans came in too late. By the time the loans arrived, the South Korean justice minister announced a crackdown in crypto, slashing the premiums down by half. I was devastated. I decided to put the loans into crypto anyways, since the market was dipping, and wait for the premiums to go back up.

It never did. I watched in horror as the crypto market slide 30%, then 40%, then 50%, then all way down 70% – taking down more than $150k worth of my savings+loans with it. That’s where I am right now. I had the opportunity to be up $60k but now I’m down $150k. That’s a $210k swing. Crazy right? To make matters worse, the Chanel bag I bought for my gf, she didn’t like it so I sold it on eBay instead. I didn’t know mailing options that well – I chose first class instead of priority shipping. What I didn’t know was that first class mail does not offer tracking in Canada. So the bag inevitably became lost, the buyer asked for their money back and now I’m down a further $2300 because of my stupid mistakes. What’s more – because of the crypto downmarket and the loss of all this money, I had to work longer in the USA. I originally had planned to be out of the USA and back to Korea by April. The crypto downturn set me back 2 years worth of salary. But obviously I cannot work another 2 years, so I settled on working another 2 and a half months instead.

The tension of the long distance relationship got to my gf and she threatened to break up with me several times. Even now, our relationship is all but certain to fail. In addition she closed our crypto account in Korea. Even if the premium goes back up, I cannot take advantage of it anymore. Also alot of my money is now stuck in ICOs – because I took even more risk, all that money is basically tied up and lost at this point.

So I went from having potentially $230k in savings (yes my savings are only worth $20k now + the $210k I would have gotten), the opportunity to live in Korea without working and living with the girl that I loved – to having next to no savings anymore, no crypto account in Korea, no way to get funds to Korea, and an imminent breakup with my gf. How much can change in just 3 months right? Depressed doesn’t begin to describe me anymore.. it was my fault, lesson learned, don’t be too greedy, don’t take too much risk.

2017: Year in Review

Merry Christmas and Happy Holidays once again. And once again, I feel that 2017 has gone by way too fast lol. Perhaps its because I spent most of this year at home and not really going outside and meeting new people and making friends like I did when I lived in Korea..

Highlights
-Saved and invested a lot. Made back all my gambling losses (and then some!) with cryptocurrency this year. The rise of Bitcoin and other crypto-currencies this year has been truly astounding and imo a once in a lifetime event. Doubled my net worth this year.
-Finally made a Korean gf! and one that has lasted so far, the longest out of all my relationships. My previous longest relationship lasted 2 months. This one has been 3 months and counting! Yes it is a long distance relationship. I got to visit her in Korea for Christmas, we unfortunately only got to spend 4 days together, but it was an amazing 4 days and I can’t wait until the next time I see her (which might not be until next May).
-Went back to Korea twice this year, both times to meet a girl…

Lowlights
-I could have made more with crypto-currency. A lot more. But who could have expected Bitcoin to rise up 900%+ this year, or Litecoin to go up 7000% or Ripple to gain 10000%? And so on and so forth.. heck investing in ANY top 10 crypto coin this year could have made you rich. I was too timid at the beginning of the year, didn’t hold long enough, and lost my chance at becoming a millionaire. Oh well.
-Absolute boring-ness this year. Didn’t go out much. Didn’t make many friends. Work was just so-so. I was quietly dying on the inside this whole year.
-Donald Trump. Yeah I hate him. In San Francisco, who doesn’t? I’m no liberal but even as a conservative I can’t stand the guy. Especially when he’s threatening North Korea (and by extension the safe being of South Korea) all the time!
-6 times going back and forth between Canada-US border to get my TN visa processed. 6 times getting harassed at the border and getting treated like a criminal! this is partly the reason why I don’t want to get a new US job.

Summary
2017 is a year that won’t go down as one of my more exciting years. This year was all about making money and saving money. Granted, I did do a lot of that. Due to the great performance of both the stock market and cryptocurrencies, I doubled my net worth this year. I also tried my best not to spend *as* much as last year. 2015 and 2016 I bought countless electronics and gadgets. I think this year I bought one new laptop (Thinkpad TP25), 2 new watches (Frederique Constant Moonphase and Orient Star GMT), and some phones (BlackBerry KeyOne, Sony Xperia XZ1 Compact, Google Pixel 2) as well obviously games and stuff but those were the only things I bought at full retail price. Last year was far worse (I bought 3 new laptops in Dec 2016 alone!).

So yeah I know I have to do more. My best friend in SF is my idol; he not only made tons of gains by holding onto his Litecoin / Ripple holdings, but he’s always frugal and never buys anything unless he absolutely needs it. Would be nice to be like that.
Aside from that, not much else has happened this year. San Francisco is becoming a wasteland. More and more homeless people. Higher and higher prices. Less Koreans/Japanese/Taiwanese/Internationals in exchange for the only race that seems interested in staying here which are mainland Chinese. And some mainland Chinese are alright, but its no secret that I don’t get along with the majority of them. I find most of them pretentious, materialistic, and overly ignorant / prideful.

The main purpose of this year really, is to gear up for the monumental changes to my life that will happen next year. I’ve already prepared for it. At a certain point in time next year, I will sell my apartment, leave the USA, and finally after 7 years of living here, and the first time really ever in my life, give myself some freedom, with no obligation to study or work. No more TN visa hassles. Just meet my girlfriend (which I also have big plans for next year, if it all works out with her), travel to different countries, and settle back down in Canada. Big changes are happening next year, and partly the reason why 2017 *had* to be a boring, stable year is because this was a preparation year meant to save up money and gear up for next year. And in that sense, I felt that this year was a success.