Ripple chief technology officer David Schwartz said he lost hundreds of thousands of dollars in pursuit of futile altcoin dreams.
In a new post on Quora, Schwartz answered a general question asking if someone was losing money with Bitcoin and cryptocurrency trading. Schwartz said he made many bad choices in the industry:
“Exactly. Not as much as I did, but yes, I bought quite a few cryptocurrencies that turned into disaster. My total loss on tokens that have become completely worthless is just over $ 300,000. ”
The director of Ripple, one of the original designers of XRP Ledger, said the worthless tokens are TIX, DICE, FLASH, VEZT, AMP, SIG, BEE, KIND, PRYZE, KUDOS and NRN.
Announced the Altcoins It Has
Schwartz announced last month that he sold 40,000 Ethereum at $ 1.00 per token. He also sold Bitcoin at $ 750 and XRP at $ 0.10.
“My Derisk decision was made in 2012 when I discussed investing in cryptocurrencies with my wife. At that moment he insisted that we agree on a plan. I must say that every bitcoin I sold for $ 750 or XRP that I sold for $ 0.10 is doing a loss. I still have small amounts of BAT and ETH as well as XRP and BTC, and very few in very small amounts. “