the essential
This is an increasingly common practice in the country: according to a recent study, 18% of French people have already spent money on a digital currency market. From their first gains to disillusionment, three of them tell us about their experience in the field.
It only took one email to convince Brigitte. Some information, news and advice distilled into regular newsletters… Enough to tickle the curiosity of this resident of Fontenilles (Haute-Garonne), who saw – almost naturally – the vast world of cryptocurrency impose itself in her daily life. Why this interest? “Out of curiosity,” she said, “even if greed is an underlying idea, we must not lie to ourselves.” So for Brigitte, throwing herself into the deep end of finance at age 63 necessarily required an upgrade: “12 training modules, one hour each time, spread over several months, to learn the vocabulary and the operating principles”, says the person concerned.
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She very quickly found herself making her first steps. Brigitte sticks to the recommendations given to her during her training. She invests 1,500 euros in Bitcoin, Ethereum and Solana, three cryptographic currencies. In a few months, she recovered four times her initial investment: “It was very profitable,” smiles the Fontenilloise who nevertheless refuses to outbid. “I think I'm going to liquidate part of my assets.” Despite her experience, Brigitte describes a world which has its own logic, with “obscure” and “complex” workings: “I never really felt at ease there”, she puts things into perspective.
“Gains multiplied by 60”
The one who calls himself “Vynotep” has heard this speech a lot. When this resident of the Center region started in 2017, he wanted above all to “form an opinion” on the subject: “There was an uproar against this type of technology,” recalls the thirty-year-old. I have always been skeptical of official speeches. Already tech-savvy, “Vynotep” educates himself and documents himself. In four years, he will take almost 10,000 euros out of his pocket. And then in 2021, he gleans significant profits: “My gains after investment have been multiplied by 60”.
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The investor treats himself, finances a great vacation with his partner. In 2022, however, he was caught by the tax authorities, who questioned him about these significant inflows of money. “Vynotep” is then forced to take out a loan to be able to pay his taxes: “It was an extreme personal tragedy”. His mood changes. His relationship is no longer holding together… But regarding his bad fortune, the thirty-year-old remains convinced that it is in no way linked to the world of cryptocurrency: “These difficulties are above all the result of poor personal management.” Its “cryptoactives”, “Vynotep” therefore keeps them warm, while waiting for better days.
“We only spend money that we don’t use”
After significant losses of money, Gaël stopped everything. This Haut-Savoyard, now 38 years old, got into cryptocurrency at a very young age. In 2013, he acquired a “miner”, an imposing device from China, financed using bitcoins. “It’s a form of calculator that allows you to transcribe transactions and exchanges,” explains the latter. Above all, this allows Gaël to earn bitcoins in exchange for these clever calculations… Problem: the device is particularly energy-intensive. “I placed it in my bathroom, because it gave off a lot of heat,” he explains. “I was profitable around fifty euros per month, while at the same time paying out nearly 150 euros in costs electricity”.
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Very quickly, Gaël stopped this activity and put his hand in his pocket to acquire his first bitcoins, around forty in total. A bad operation causes him to lose 10 of his precious possessions, the equivalent of a million euros today. A hard blow which will ultimately push him to liquidate all his assets…. and to cease all investment in cryptocurrency. Looking back, he feels no resentment. All our witnesses agree that, when we invest in cryptocurrencies, “we only spend the money we don’t use”.
