wry Posted February 19, 2019 #1 Posted February 19, 2019 While the recent price action has triggered some hope that maybe the long crypto winter is finally over (though I have my doubts) those of you who have been holding (or hodling) crypto and watched it decline in value can take some comfort in that the largest crypto mining firm on the planet had large losses as well. As part of their initial public offering (IPO) filing Bitmain had to report their financials over the last nine months, it was not a pretty picture. Despite solid revenue of $3 billion USD, their profits were down $500 million, so ouch. They also had an unrecognized loss of over 100 million USD on their crypto holdings, ouch. So take heart if you've had to watch the value of your coins go down month after month for the last year, even the biggest player in the space had the same challenges. LINK: https://www.coindesk.com/mining-giant-bitmain-posts-500-million-loss-in-ipo-financial-filing
Kate Posted February 20, 2019 #2 Posted February 20, 2019 That's a huge number 500 Million Dollars. Well the market has been unexpected so i guess they didn't expect this huge loses to incur but still they did get a profit for around 3 Billion dollars which can cover the loses .
skillex Posted February 23, 2019 #3 Posted February 23, 2019 When I see this news somehow I've been comforted a little thinking and realizing that my losses were just a penny from this company losses.Now I believe that theres no veterans really in any type of investments though there is some strategy to lessen losses a little as well.
KiXxnTRiXx Posted February 23, 2019 #4 Posted February 23, 2019 Holy moly, thats alot of moolah and a huge loss! Here i am feeling bad losing 25k satoshis after a 4 days break.. that is a total wakeup call for sure.. just a reminder that yeah sometimes losing sucks, but it could always be worst.. i cannot imagine what i would feel if i ever lose that kind of sum on money.. even losing 1million would be a heartbreaking experience, but 500millions.. damn, not everyone would even have the opportunity in making close to a million in a whole lifetime let alone that... i wonder how many people got affected by this loss and to what extent,, sheesh!
wry Posted February 23, 2019 Author #5 Posted February 23, 2019 10 hours ago, KiXxnTRiXx said: Holy moly, thats alot of moolah and a huge loss! Here i am feeling bad losing 25k satoshis after a 4 days break.. that is a total wakeup call for sure.. just a reminder that yeah sometimes losing sucks, but it could always be worst.. i cannot imagine what i would feel if i ever lose that kind of sum on money.. even losing 1million would be a heartbreaking experience, but 500millions.. damn, not everyone would even have the opportunity in making close to a million in a whole lifetime let alone that... i wonder how many people got affected by this loss and to what extent,, sheesh! Yeah while it is a business it's important to remember there are people behind that business that stand to lose or make a lot of money. My guess is that they will recover, though I am increasingly losing faith in BTC price mooning again. So yeah KiX feel better about your 25K satoshi loss, hope you get back on the path to your own million very soon! Good Luck!
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