The Futures Addiction: A Journey from Hope to Debt
Recently, a tear-jerking story shared on social media has made many people ponder the traps of the cryptocurrency market, especially Futures trading.
The storyteller began to get in touch with #Bitcoin ($BTC ) in 2015, when its value was still low.
By around 2017-2018, he owned some BTC and witnessed the price soar to 20,000 USD, even 30,000 USD each.
At that time, with the money from BTC, he could have bought land in his hometown for only 300 million VND (which has now risen to 2 billion VND). However, instead of holding BTC to benefit from long-term price increases, he got caught up in Futures trading.
From the hope of quick profits, he fell into a spiral of addiction.
“I’m foolish and it feels like an addiction, I keep losing and coming back,” he confessed.
Despite his family's objections, he still tried to “fight back against the market,” leading to a debt of 250 million VND that his wife and children were unaware of.
Currently, he continues to burn through his account, with no borrowing options left, only able to send a warning: “I hope those who just got to know it like you in the beginning will stop at the right time.”
Under the post, the online community offered many perspectives. User Tiet Thanh stated bluntly:
“Without putting in the effort to study, research, backtest, and control one’s emotions, progress will never be made.”
Dang Ba Van added: “Theoretically, to master a profession, one must spend an average of 1,000 hours. If you don’t have 1,000 hours of practice, I’m sorry, it’s not 95% failure, it’s 100%.”
🙏🙏🙏 I hope the story above serves as a wake-up call for those trading futures; I hope you only trade Spot. Futures should only be a place for fun bets of $10-20. I've seen too many cases die because of futures.
