I Turned $250,000 Into Almost Nothing — A Brutally Honest Crypto Story
From Six Figures to Confidence (and Complacency)
A month or so before I decided to take a three-month trip to Thailand, my balance sheet showed more than $250,000. On paper, life was good. Those were the glory days.
The problem was that I refused to take profits off the exchanges. The moment I did, they would be classed as capital gains — and psychologically, that felt worse than the risk I was taking by leaving everything exposed.
“I was more afraid of paying tax than I was of losing everything.”
That decision would come back to haunt me.
The Crash That Changed Everything
When the market turned, it didn’t just dip — it collapsed. My highly leveraged positions were wiped out with brutal efficiency.
What had once been a quarter of a million dollars was reduced to rubble.
At my lowest point, I was down to $10,000. Through persistence, stubbornness, and probably a fair amount of luck, I managed to claw that back up to around $70,000 in a relatively short space of time.
I was wounded — but I wasn’t out.
“I Still Had $70k… What Could Go Wrong?”
I still had $70,000, and I was about to head to Thailand. In my mind, that meant I was fine.
What could possibly go wrong?
Quite a lot, it turns out.
I continued trading. Emotionally. Reactively. Without truly accepting what had already happened. While I was in Thailand — and I’m still here as I write this — I managed to lose almost all of that remaining $70,000.
When I say “almost all,” I mean almost all.
“I went from $70,000 to less than $1,000 while living in paradise.”
Desperation Trading and the Final Collapse
With less than $1,000 left, I turned to the money I still had in my bank accounts. I told myself I could recover. I told myself I just needed one good trade.
What I was really doing was gambling.
It didn’t work.
And just like that, I was broke.
Broke in Thailand, Bills Due, No Safety Net
So here I am: broke, in Thailand.
In about a month, I’m planning to fly to Vietnam — a flight I paid for in advance before I even arrived here. I don’t have a job. I don’t have a stable income. What I do have are scraps — barely enough to live on — and bills landing at the worst possible time.
One server bill is due today (£165). Another is due in a few days (£24). That’s roughly £200 gone immediately.
The only potential lifeline is the possibility of a credit limit increase on the single credit card I own — likely to £1,500 or £2,000. If that comes through, it might buy me some time.
“It’s a strange feeling when your future depends on a credit card notification.”
Trying to Build Something From the Ashes
I’ve started making YouTube Shorts to try to build an audience. The views are coming in, but subscribers are slower to follow. If you want to see me ramble about crypto, losing money, and half-heartedly exploring Thailand, you can find me here:
👉 https://www.youtube.com/@jmp_0x0000
I’m also actively looking for work. I’ve recently applied to Flare Networks and CoinMarketCap, though realistically I don’t expect to hear back until after the New Year — if at all.
It’s been a long time since I’ve had to seriously consider working on projects that aren’t my own.
Building an NFT MVP (Too Late?)
To stay sane, I’ve thrown myself back into building.
I’m working on an NFT marketplace MVP — possibly too late for the hype cycle, but I’m hoping the features I’m building will still attract interest. Alongside that, I’m developing a suite of smart contracts designed to be deployed across multiple blockchains.
One potential funding route is XRPL grants. I’m part-way through the application process, but I want to polish the MVP further so there’s something tangible for assessors to really get their teeth into.
If You Can Help
If you’re reading this — and I hope you are — and you have spare cash or crypto, please consider making a small donation if you’re able.
I can accept any EVM-based cryptocurrencies at:
0x8423f4E4c20185af8A8a7308a534B3be6C75354D
I also have a PayPal link:
👉 https://paypal.me/jd80
If you do donate, especially via crypto, please drop me a message through the contact page on my homepage so I can thank you properly.
Ending Where I Am
For now, I’ll make a coffee and get back to work.
I’ll be honest — I’m fed up. I made a poor accommodation choice and I’m currently staying in a hotel with no desk or chair, which means I spend most of my time lying in bed with a laptop. Not ideal — especially at over €10 a day.
“I didn’t just lose money — I lost the illusion that I was in control.”
Still, I’m here. Still building. Still trying.
Peace and love to all.