Bitcoin Forum

It seems as though everybody has an opinion on how to make money in crypto and most are willing to share that opinion. What is the worst advice that you've heard on BCT on how to make a profit in altcoins?

Worst advice ever was to buy Dash. I bought some of it before I knew it had a 2million coin instamine scam, so im fucked.

"Safer than a Swiss Bank Account!" - Bitshares Head of Operations, Stan Larimer

"Communist Bitshares Wealth Redistribution IS THEFT!" - Nxt shill, DecentralizeEconomics :)

Source: https://bitcointalk.org/index.php?topic=916696.0

Haters Gonna Hate (c)

Litecoin (LTC) will recover when the price of bitcoin recovers. Just hold and ride out the storm.

It seems like everybody says "hold and ride out the storm." That's almost always very bad advice.

"don't dump, whales are accumalating" - you will find this gem in the thread of every dead alt coin.

That seems to be the bag-holders mantra.

"Don't sell it for cheap price like now, price will skyrocketing after airdrop 8)"  - common advice at auroracoin thread before airdrop begin. After airdrop start, price crash like crazy
"Buy more, BC wilI be worth more than 100k satoshi next week" - bad advice when trade BlackCoin (at 90k satoshi price), after few minutes that price drop and crash more than 50% at next hour  :-[

Is Bitshares(TM), the company, attempting to copyright that phrase as their corporate motto?

How you live if any shadow looks for you as communism, corporatism, copyright, etc.  :)
PS: (c) after "Haters Gonna Hate" mean that it's not my phrase, sorry if it's mislead you.
PS: Looking forward for your new scary posters.

Any post with communism in it :-)

Altcoins in general. it's fun but after LTC -> every altcoin = long-shot probably should have just stuck with Bitcoin.   

I love altcoins.  I love the whole scene, the whole ecosystem.  It's like an international commodity exchange.  Before all this, I never imagined I could trade outside of stocks, and it's unregulated, where everyone can join in, no questions asked.  It's really liberating.  It's beautiful.

Of course some "commodities" are junk.  But all in all, love it.

The worst advice is when I heard people saying than a 'promising' altcoin is going to replace bitcoin.
I don't find any coins able to do it now. Many altcoins are jump pump and dump.

Yup.  So true.

Nothing can replace bitcoin, but something can definitely surpass it.

Enter NXT.

This can happen too.

Worst advice I ever read was in nxt original announcement thread:

Rightnow the worst advice I'm hearing is bitcoin reaching 10K USD in 2016

worst advice for is when my friend tell me to buy BTC @$1,000 and im in to BTC world

now price drop

:(

Worst advice? Go to archive.org and look at reddit.com/r/bitcoin for posts from November 2013. It's a gold mine.

MAX KEIZER PREDICTS 1 BITCOIN = $700,000
https://www.youtube.com/watch?v=w3X03KyUYuo


https://www.imageupload.co.uk/images/2015/04/26/keiser.png

Yeah to me this one is the best  :P best investment after BTC.

That sounds like pretty good advice to me. If you sent money to every four day old account that asked for it, you would probably lose quite a bit of money. The fact that you may have made money doesn't mean that it was bad advice. It just means that you were one of the lucky ones.

Congratulations. I'm glad that it worked out. ;)

Actually I'm not sure if (apart from some technical stuff) I've ever heard any good advice here :). Perhaps I should join a PD group to get some good ones.

That is why people shouldn't give opinions or advices of things they don't know about without any facts, for me they are just trolls... I invested some cents "0.06BTC or so", and I'm more than happy, right, BCnext asked for few satoshis, if people wouldn't be so greedy, nxt could be much much much bigger than what is now. But no... thanks to trolls and envy, nice projects like this are growing much more slower than they should, and I don't know if this trolls thinks they are helping crypto or what, they are making this looks like an scam for any newcomer, the word scam sure is the most used in this forum... but ok, if it's for envy and because they don't have a life... nice, like always, good things ends fucked by a little group of retardeds which makes a lot of noise...

You know, nxt is my favourite choice, not only because I had the luck to invest, but because right now, they are the only community with good conversation topics and which less cares about the price, they are more a group of believers in crypto than fiat speculators like almost all other coins followers.

Sorry for the last offtopic, but say that "don't invest here" comments from someone who don't have any clue are good advices made me become bit mad :P

I'm not for or against NXT, but it is generally a bad idea to send money to a four day old account. I'm glad it worked out for you, but it's usually a bad idea. That's just common sense.

I agree. There is very little (if any) useful investment advice around here.

All the worst advice can be found here https://bitcointalk.org/index.php?topic=727004.0

Probably a price speculation thread from 2013?  "Buy Mastercoin, Quark, BBQcoin before it is too late!" *fast forward to 2015*, help the loanshark is pinning me down and he just cut off my foot!   :o   ;D

Invest in [insert pretty much every altcoin that has ever been created].

Every equivalent statement/coin is equally the worst advice given.

Nope. Some of the worst advice ever is on Hashtalk, where the XPY community used to hang out (and some remnants still do.) As XPY was plummeting in value, and its scamminess went from obvious to blindingly obvious, there were lots of people saying lots of stupid things. My favorite was always: buy more, that way you will get your average cost down and you'll ROI more quickly.

I'm not saying you are for or agains nxt, I said las phrase was offtopic :P
but yes, I agree, is exactly common sense, that is why anyone shouldn't give that advices, advices only should be given when they have a background.
This trolls with "savior syndrome" makes you feel silly if you invest in anything, I agree that there are many scams, but please, stop saying everyone what to do unless you know something more than them, specially, in the case of NXT, he was asking for SATOSHIS! no excuses here, so in that specific case, the advice was very bad.

Water in a bong filters carcinogens.
I just love drug rumors!

also: buy LTC

When people tell me to change my name! My sister also have trouble. Her name Chew Klit!