Bitcoin Forum

I have a friend who invests in cryptocurrency like me, he is an investor hold Luna and he has also lost quite a bit because of Luna. But what's more sad is his 2 best friends. Those two are also hold a lot of Luna's and Luna's crash causes them to lose all their possessions and become insane. As he said, one person has gone through the crisis and one has not. Those two guys who invested in Luna were all from my friend's advice. He said it was he who indirectly harmed them, money can be earned, but his friend are gone.

This is a sad story that I have heard. Through this story I want everyone to know 1 golden rule in investing is: never give financial advice to anyone. By the time you give them financial advice, you may feel like you're one step ahead of them, but if that advice is wrong, you could be the one hurting them.

Just tell him them there is LUNC 3.0 and this time when its reaching to its ATH, you advice them to sell.  8)

I have experience the same because it felt like I am a pro when I profited a lot during the bull market so I advised them to hold but when I told them to sell already.  He also object because he remembered me saying to HODL. Now it seem like my fault. It took me days to convinced him to sell and when he finally sold the coins, he still blamed me for telling him late.

The golden  rule is to sell when the price hits ATH.

I think we can give financial advice to anyone.
But we must also emphasize that investing also contains risks and explain that investing only uses the money we can afford so that if something happens to our investment, it will not make us suffer a lot of losses.
If we can do that, I think they will understand and will not be so greedy in their pursuit of profit that they will not try to spend more money if no information can benefit them.
But if you decide not to give them financial advice, that's also okay because we leave it entirely up to them and hope they can do their research before deciding.

"Quite a bit"? The shitcoin did a -100%, he's lost every cent he put.

Just because your friend told them to buy a worthless, centralized, opaque, game theory failing shitcoin, it didn't mean they should; and even if they were convinced, your friend shouldn't give advice, not because he might hurt someone, but he may have no idea what the hell he's bought.

Well, there are actually two golden rules.

Golden rule number 1: don't lose money.
Golden rule number 2: don't forget rule 1.

https://www.investopedia.com/financial-edge/0210/rules-that-warren-buffett-lives-by.aspx

Regarding the Luna case that you mention, I would add another: don't invest in junk. That way, it will be easy for you to comply with rule 1 and rule 2.

Yea, I also learnt that the hard way.

In the beginning I was very eager to "teach" other people on how to make money with Crypto currencies. I helped a friend of mine to buy bitcoins, but he did not tell me that he used "debt" to fund this. So, the Bitcoin price dropped with more than 70% and it took almost 3 years to recover.

He had to pay off the interest on the debt and he had to sell early... because he could not afford to pay the interest anymore. A few days after he sold his coins, the price started a quick recovery and he lost the opportunity to make 650% profit on those coins.

So rule number 2 ==> Never use Debt to fund your Crypto investments!!!

You can actually give but not to the point that you forcing it to someone else's throat. If there's any advice you can give, it's to let them know what you're actually doing, what resources you're reading, and what to avoid. Of course, you can only speak when requested; otherwise, you would be spending your time discussing topics to them that are irrelevant.

Plus, as a general rule of thumb, what works for you could not work for others, right? This is especially true in the financial world, where everyone has a different risk appetite, financial situation, and depth of understanding.

Or perhaps, you can rudely say to get the hell out of my face and that your investment isn't my business.

Golden rules differs based on individual interpretation, another person can come and say his golden rule is buying when everyone is panicking and has record of that been profitable to him. In my personal opinion, i don't believe there's ever an ATH especially as this is cryptocurrency and the price of a coins differs in various exchange and the tracking sites usually give an average price so it's basically impossible ti get the ATH. Whatever your golden rule is, the most important is to avoid losing money and not investing more than you can endure Incase the investment doesn't go your way.

The case of Luna should teach us all something, as for company with physical representative like CEO and the rest, always take note of this individuals behaviour as it was discovered that the Founder of Luna had a stubborn behaviour and doesn't take criticism or constructive advice so well. He was warned about thw exact attack that cause the collapse of Luna 1.0. Even after the scenario has played out, he was advised on how to go about the recovery of the project but he insisted on forking (creating more shitcoin), just pathetic.

Regarding the rule of investment I would say the most important rule is to do not go all-in for any asset no matter how profitable is this and have money management meant planning for yourself to stick to it, so you will not have huge problems even if a price collapse happens in the market. Also, I'm not sure how your friend is thinking about Luna but as far as I can see everything regarding this project launching Luna 2,3,4,... doesn't change anything it's just like some guy is changing his clothes and don't make this project a good and safe option for investing comparing to many other assets like bitcoin.

I personally also experienced losses from Luna, but luckily I only invested a little cold money that I had so far so I didn't think about it too much, Luna incident should be a lesson for us to think twice before investing 100% of the money we have, actually I don't I want to comment on Luna at all because it's obviously quite painful for some people, many people who hold Luna at a high price actually get an airdrop that doesn't match what was promised, besides that when Luna migrated to Luna V2, the Luna token which was replaced with Lunc, lunc had a low  price much lower than when we buy luna.

This scenario is very common, there is a reason it is recommended that you keep your family and friends matters apart from your money matters, because if there is some disagreement or issue when it comes to the money not only you will be affected financially but your personal relationships will also suffer, so while some light financial advice is acceptable, like promoting to save money for a future investment, it should never be anything too specific or that hides a risk that is too high, otherwise something like what you mention can happen and you will lose a friendship or your relationship with a family member.

Lost a lot of money because of Luna? He could've put more money to Luna than Btc? Or he/they put all their eggs in one basket?
That's actually one of the things to remember when investing, especially to a highly volatile asset.
Also, never listen to just financial advice, you should do your own due diligence and never blame someone who just told you that you can make profit from this and that, coz their intentions as your friend is not to make you go bankrupt.

This is why I avoid giving advice to my friends and relatives about investments especially cryptocurrencies. If your advice fails, they will just blame you and you will feel a bit guilty even though you did nothing wrong. On the other side, I also keep them from knowing my financial decision of where I invest my money. You'll just hear some hurtful words from them that will decrease your confidence about your decision. But when you became successful with those investments, they praise you like they are behind you taking those risks.

There's nothing wrong of giving financial advice to anyone, but the wrong is the person who only rely about the financial advice from a stranger. Do you really think someone told you to invest in x coin is really legit? why should they suggest you to invest on specific coin? they must have a behind reason from that. As much as I dislike Warren Buffet, but he's right in this moment, only invest on what you know and you've learn.

There should always be a disclaimer about what you are advising on, especially if you are not a financial advisor. It's an actual job, especially those insurance sellers that give out different policies depending on your capability or something.

It's unfortunate what happened to your friend and your friends of friends because knowing what happened to Luna and Luna 2.0, it just makes sense that anything can happen, and a lot of people can be vulnerable if it wasn't good advice or something. Imagine being able to invest early on, it's perfect, but the total supply of the coins and the stashed money backed in Luna is not enough to let the stakes cash out. It just didn't become stable as the Do Kwon wanted.

I hope they can recover from this and everyone who has experienced losing everything. I hope they can come back and have a comeback.

Losing his friends because of the advise he gave them is not the end of the world. His friends will come back. He gave an honest advise like someone who wants to see his friends grow financially. I don't blame him and he shouldn't blame himself.

Nothing bad to give an honest advise but to add disclaimer is appropriate and that will get the investor to be cautious of what they are doing. To advise people and friends to invest is wise but to inform them of the risk involved is wiser.

If this really is the number 1 financial advise, then I can say that I've followed this advise without any doubt during my entire life.
I've have never given any financial advise to anyone in my social circle: family, friends, relatives. There's more than that. I've never taken any financial advise from friends and family. I think that it can be considered socially inappropriate and cringe to give financial advise to family/friends.
Anyway, the entire "I told my friends to buy Luna and now they are broke" thing has turned into a meme at this point. I can't feel sorry for the Luna investors. They were buying a shitcoin. What else where they expecting? This is like joining a ponzi scheme and expecting to make big profits. Only the creators of ponzi schemes make big money.

I'm not going to talk about investing to close people who seem eager to make a profit. In my circle, most of them are people who are influenced by "successful" social media celebrities and come to us to learn. They tend to ignore the risks, hear only the "profit" side, and think they will quickly get rich if they risk more and more money.

Generally, such people prefer to invest in something that has high price volatility.

From personal experience, I can agree that it is not wise to give financial advice to anyone, especially when it comes to investing in cryptocurrencies. It's not just a question of telling someone to "invest in coin A or B", it is already a question of how someone will store what they bought, and the reality is that most still store digital assets in ways that are very risky. If you are already advising someone to invest in Bitcoin (or some altcoin), then explain to them the risks that come with using a mobile or desktop hot wallet, or storing on crypto exchanges.

I was in a situation where I felt responsible for someone losing money because of my advice, so even though I wasn’t directly to blame for someone behaving irresponsibly, I paid damages out of my own pocket and learned an important life lesson.

Yeah, been there and done that. It's frustrating when you see people that you've talked to about your enthusiasm towards bitcoin and the market but then, you'll know that they didn't do well and lost money. It feels that you've passed them a burden but still, you can clear your mind by thinking that they have a free will and they were the ones that have chosen that path and they didn't became careful because they've belittled the market as it seems too easy to become rich in here.

Why would they even go all in? "Only invest money that you can afford to lose" is an old adage here. Those guys don't sound like they were investing - they were gambling.

When investing we have to understand risk, most investors only think about profit, there are always bad things that are unexpected especially cryptocurrencies that are never guaranteed to profit forever, I have known cryptocurrencies since 2013 and have thought of selling assets for mining and investing, if I did at that time and in 2014 the price dropped by more than 90% of course I will be very regret.

The way people react to their losses speaks volumes about their very nature. It's always easier for people to blame someone, saying that it's everyone's fault but not mine. This is a sign of weakness and a lack of autonomy to make decisions. How can you think that there is a sure way to get rich without risk? Why not think that in this scenario, everyone around us will get rich?

Therefore, we very often understand that the expression "do not do good, you will not see evil" in our time becomes very relevant.

There is no need to teach anyone, just show them the goal and how to achieve it. That should be the problem of the seeker.

Money matter is always a delicate matter and can end relationships no matter how long it has been. Exposing financial opportunities  (investment opportunities) should not be mistaken for financial advice. When you expose someone to a financial opportunity, it is subject to the individual to further his research and decide for themselves, but what a financial advice may mean to some family and friends is- "don't worry about research, you can follow my word" and it is often taken seriously considering that they don't see you as someone that will tell them something bad.

While it is good to expose family and friends to financial opportunities, we should avoid giving unsolicited financial advice especially when you value your relationship with them. And when it is a solicited financial advice, be sure to spell out the risk involved and encourage them to carry out their research and not depend on your word alone before taking a step further.

This is the thing or the reason on why i dont really make myself make out some suggestions or recommendations when it comes to investment because i dont really like to be blamed whenever assets do really goes down

into its price which would really be putting the risk on losing  your friendship or good relation because once money is really get involved then things do really changed which you dont expect for it to happen.

On the time you do make at least some suggestion then always remind  off about the risk so that you wont really be get blamed in the end.

If no one provides financial advice to anyone, we will not develop. The problem lies in giving investment advice and you do not have the sufficient knowledge background for that, or that the other party does not have sufficient knowledge experience, or blind investment “just investing without a clear plan in the hope of getting rich quickly.”

Always tell your friends that high-risk investments mean good profit, but good loss, the time factor is also important, so invest money that you do not need at the moment.
After that stop being greedy and learn more.

If someone invests in a ponzi/HYIP scheme, the only person to blame is the person who invested in it.

Although the person suggesting their friends is somewhat to be blame, but the complete blame still goes to the shoulders of the ones who invested. Because they are putting their money at their own free will.

Point is there are a number of such gullible people in the world who get jealous of their friends profits and want to join in without doing any sort of check or maybe they are completely new to crypto having no idea that this ecosystem is full of scammers and thieves.

The LUNA scandal reminds me of BitConnect, just in another form. Those who learn their lesson are the not the targets of these, it is the newly joined users or no-coiners who start their journey in crypto via such scams, sadly.

This is one great example of why we must not listen to or trust our friends' investment advice wholeheartedly.  As the ones receiving the advice, we must do our own research and never put all our investments in one basket.

As for giving advice, we should always give the pros and cons of whatever investment we are suggesting.  We should also encourage our listeners to do their own research and make sure to tell them that whatever they decided, they are the ones responsible for their actions.

The golden rule of investing is that there are so many golden rules at one point you're going to inevitably break one of them.
Don't invest more than you can afford to lose, diversify our portfolio, set goals, don't set high goals, don't follow the crowd, do the opposite of what the crowd does, kill the crowd..just lol.

I love how everyone is giving advice but let's look at the reality.
Diversify your portfolio, what does that mean for your average crypto Joe?
Buy 20% BTC and the rest in shitcoins, well, that's not diversifying, it's like buying both Exxon and Shell shares!
Don't put all your eggs in one basket! Again, lol!
What's the common trend here, put all your money in crypto because not any other investment will be that safe or profitable!

Common, everyone here is breaking rules after rules, let's just be honest with ourselves.
Everyone is pointing fingers at Luna while praising other coins, if Ethereum crashes tomorrow there will be full of people who would say I told you so, I know it, and they come with tons of arguments they hadn't had the courage to say once before!


One of the guys I played online games with has bought some eth from an atm, stored on god knows what wallet, when after a year it hits 600$ per coin he tried two times to learn how to open an account, send those coins, etc, etc, never managed.
I told him I would buy those from him if he's that desperate to sell and pestering me each day about docs banks taxes, but since it was a 30 km drive and bad weather day after day he said fuck, he'll keep them. One year later he sold at $3500.

Sometimes it's better not to help people! ;D
I always make fun of him when he is in trouble in the game, I'm not going to help you, I bet it's going to be better for you if I don't!

I'm a financial advisor, so giving people financial advice is my job.  I am legally able to do so in terms of being compensated, otherwise you aren't allowed to do so if you're being paid for it (at least here in the United States).  I would mostly agree with you, unless you have done an extreme amount of homework and truly understand investing and finance, don't give advice.  There's nothing wrong with giving your opinion.  

Also I would put the blame on the person taking the advice.  It's not your friends fault they listened to him. Anyone who's risking a lot in Luna tells me that they do not understand cryptocurrencies or finances.  


I followed Bitconnect very closely.  I tried warning people for months on end. Mostly met with a lot of hate saying "I'm jealous".  Crazy that there are people who actually believe this nonsense.  I don't know much of anything about Luna, was it actually a scam or just a pure shitcoin that crashed?

That is unfortunate, I hope your friend's friends recover financially and mentally. You can also tell your friend to stop beating himself up. Sure he was the one who introduced them to Luna (and it was definitely not a good advice) but they are the ones who decided to risk their money for what is clearly hyped up shit.


I think that's how it really is. People who are familiar with even just bitcoin for 2-5 years would have already learned that these alts are nothing but things to pump and dump, and wouldn't have risked a lot money if they ever "invest".

Moral of the story: Don't risk money you can't afford to lose. Till the next big scam.

Ironically the advice you came up with is pretty poor financial advice. If you want to give financial advice you need to look far beyond the realm of cryptocurrency to stick with the tried and tested method that has done well over many decades, not just two. Your money is safest and will grow at a reasonable rate within a globally diversified fund which has absolute bare minimum additional fees. Vanguard has traditionally pioneered this method, where you buy into a fund which is receiving dividend payments or growth in the share price from all those companies and reinvesting it for the benefit of all shareholders while small amounts are allocated to transaction / management fees - a very passive method of investing that lets the market decide. You get a very safe and average return instead of chasing ridiculous growth rates which more often than not fail.

This is why i don't convince my friends to invest in crypto because this is a very risky investment. One could lose all his hard earned money just because of doing wrong moves in crypto. If they think they can make quite a fortune in crypto, i always tell them to DYOR  first before they create conclusions. It's not that crypto is all about profits, but more on losses too that is why i don't give financial advice as i don't want to be responsible on their future losses.

Actually there is nothing wrong if we give financial advice to others, but we also have to remind the risks that will occur. And make sure whenever
we give financial advice to someone else, to keep suggesting that person do their own research and analysis. So they can make their own decisions
and are not completely dependent on the financial advice we provide. So even if the financial advice we give is wrong, that person will not completely
blame us. After all, humans are social creatures, so it is natural in life to advise each other in any case. Sometimes advice from other people is needed
in my opinion, to just compare with the results of the analysis that we do.

Although I also don't recommend the person I know on crypto but I encourage them to do research because only theirselves can help them up towards this industry especially to avoid scams. If we totally discourage them without giving them the context for sure they will not try their best to earn on crypto because we are the one who kill their curiosity about it. Its good to tell always to your friend to DYOR since this is like little reminder that they should research and never play lame game upon investing

I will not say that this is the golden rule of investment but one must always have a contingency before they invest. In addition, the investor must also determine the limits of his/her investment (e.g. knowing when to cash out their investments and/or pullout incase of crash in the market). What happened among you friends is that, the other one got greedy and decided to at least wait for more time to cash out.

In the event of a crash, always have a contingent plan about the investments. Lastly, also invest on the money that you can and are willing to lose. Treat your investments as "loss money" so the feeling of loss (in such event), will not be that too bad.

https://i.ibb.co/K7D24fy/fish.jpg

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The main advantage humans have over animals is greater cognitive capacity.

Which is interesting considering our trend towards many believing they're better off not developing it.

Everyone has within themselves the power to learn to become a good investor and trader.

But most will never succeed at it due to the belief that they're better off not developing their minds and simply accepting financial advice from others.

Agree, when we are active to advise people to invest, there are 2 possibilities, if he gets a big profit usually will forget our advice, but if he loses he will continue to blame us, this is what makes me never invite friends or family to invest in Forex, stocks or cryptocurrencies, even though I get profits from stocks and cryptocurrencies, but I have never said in detail to those who ask about my investment especially cryptocurrencies.

Exactly, this is what they are doing here, it's the risk that they are willing to take, a big gamble and unfortunately, they've lost everything.

So yeah, there is a lot of golden rule with regards to investment. But I don't think that majority of crypto investors are adhering to it because they want crazy returns and thinks that crypto is a get rich quick scheme and then they sold everything invest on it and later lose big. Lots of lessons to learn on that LUNA debacle and hopefully everyone understands how not to fall from it.

This is the reason why I dont encourage someone to invest (unless they're really interested and willing to learn plus aware of the risk) because of the fear that they will blame me incase their investment didnt turn out well. I experienced this before, I learned my lesson and dont want to repeat it again.

If you invest your hard-earned money, make sure that you know what you're getting into especially the risk that you might lose your money. Thus its a must to only use the money that you can afford to lose so if the outcome is not what you expected it to be then its not going to be so hard to accept. Lastly, you can give advice but dont give an assurance because every investment has risk.

Unknowingly you help your friend by not going into his house  ;D.  It is ok to help people but we must make sure they understand what we are saying.  On the other note, it isn't good to spoonfeed them because they will miss the opportunity to research and deepen their learning skill.  Their insight will be narrowed down because they miss gathering other information that can broaden their knowledge if we keep on spoonfeeding them.  As you said not helping for their own benefit and as long as it is not a matter of life and death strengthen them.

It's very simple and quiet understood that advising some to invest it money in cryptocurrency have two ways and if you did not explain well and get your hands off from the investment, if something happens and especially lost the person will turn against you or it may ask you to pay back the funds. Cryptocurrency investment is investment that come with profit and lost, and if you are introducing some body tell the person to invest in any coin he feels is good for investment and let he note that coin can fall and you will not make profit and when it rise you make profit, after instructing the person like this you will see that if the investment go wrong nobody will blame you

Helping in some ways and at the right time is a good thing but on the other hand if we continue to help people in the wrong way it will make that person not grow.
help is not always in the form of money because there is much we can do to help,
Continuous feeding is certainly not a good thing and we need to know the portion

Not just your advice that will be forgotten if ever they become successful with those tips you've told them but, as well as you, you'll be forgotten by them and won't acknowledge your advice.

This is nothing new to the people that we've been dealing and that's why it's always better to put a discretion or caution before they invest so that there won't be blaming whatever the outcome of their investments.

You can give advice to the people but taking them completely blind is their own fault not yours even if the advice is coming from Warren Buffett it can be wrong because we know what he is saying about bitcoin for years but he has been wrong all the time so take their advice and do your own research before proceeding further.

Sad when I see the story of your friend who goes crazy, I'm sure this is because we are too optimistic that the future will always be good and continue to profit, this is an important lesson for me that when investing it only uses the money in the pocket, will not issue from bank account even though whatever the situation.

luna is still quite discussed and the latest news is the launch of luna V2.. or 2.0.
Before entering the exchange, we are always reminded that crypto assets are as ridiculous as they are. They are volatile and cannot be controlled wherever market prices will go.
he can fall millions of % even rugpul. That's the first economic instrument, I'm not all the same fate.
friend, maybe you remind or advise someone so that they feel safe with the research they are looking for. but I'm sorry even for all victims who are similar. whatever the decision, it should not be blamed on those who only provide information. it's just sharing

but reality is not that easy,
when buying at the top and plunged in just 1 day.

Golden rule Cryptocurency is adventure and surprise.try observe, follow, research DWYOR

You believe now that investment is risky, no matter the pope, investor, layman and so on, if it happened like your friend, then who should be blamed.....!

For this reason, people always remind crypto users, especially those who make long and short-term investments, Never underestimate the saying, eggs must be divided into several baskets, don't try to put them in one basket.

The problem that happened to Luna reminds us all, anything can happen to crypto without guessing, so consider it well before investing in the future, remember risk can happen at any time, unexpectedly.

I would take the second one. Because I dont invest in altcoins anymore at least not the newly hyped ones, I found out about LUNA after the crash happened, while Bitconnect in the past was making headlines for a long time before it finally crashed. Luna's timeframe was much shorter which is why bitconnect was rather able to garner a bigger population hoping to get huge returns.

Either way it is just the two sides of the same coin. Invest in one and you will be guaranteed to lose money. And that jealousy of having seen a "friend" profit is what pushed many people to invest in such scams and lose their money one fine morning.

Safer bet is always bitcoin, we old timers have understood this, me personally from observing the changes in market.

Can't really blame them taking such risk with the state of the economy now. These guys probably can't think of anything else to make money during these times. But still, it was not a wise decision to gamble all that money. Rather just make do with the little money they have than lose that.

right now, if you want to keep your friendship lasting, then don't do things that are likely to be dangerous for your friendship in the future...

I have also experienced this, when the bitcoin price crashed, my friend said I invited her to a fraudulent investment, even though at that time the bitcoin correction was more than 50%, now the bitcoin price has returned but our friendship has not returned.

This is why giving financial advice is something one should never do because that will make him responsible for the future outcome of those investors, either they succeeded or failed in crypto investing. However, i think one should never put the blame alone on the one who gives financial advices, but its more on the investor itself. If he thinks he is not capable to sustain his profits in crypto, then he should not take investments in crypto in the first place. He is the one that should make more efforts to gain, and not the financial adviser itself.

All investments have risks, so we must be prepared with all the risks that will occur, including accepting if we experience losses when investing.
And don't be too blaming other people's opinions if it ends up making us suffer losses, because from the start we were wrong to be too optimistic
with other people's suggestions will generate profits. The first lesson when investing we don't trust anything other people say, always compare
the opinions of others with the results of the analysis that we do ourselves, to be able to take the right decision. The second lesson that we must
remember when investing is like what you said we should not invest only in one coin. We have to invest in several coins, in order to avoid the risk of
losing all the money we have. Because if one coin suffers a loss, we can make a profit from the other coins.

There’s nothing wrong with giving advices maybe the wrong thing here is that, you give too much hope for them without telling the whole scenario in this market and we all know, this market is not always about making profit its too volatile for that. The golden rule is to invest what you can afford to lose, and expect nothing this is way better for me. If your friend lose money because of your tip, I guess he has a fault too and no one should be blame for.

This is a simple rule yet many still ignore it and always go to all in which is a bad decision at all. We can give advices but we cannot force those people to follow it and maybe he lose because of his own greediness. Don’t blame yourself and I hope that your friend will realize his own mistake and correct it later on. He can still get that money back by investing on other project, it’s not too late for that.

"Never go all in"
"Invest on what you can afford to lose"
"Dont get FOMO,FUD"

Most common line of advises wherever you do tend to engage with crypto investment thats why you should be mindful
on following these basic rules but its really that effective on saving up your ass on getting wrekt.

Giving financial advices to anyone is never a mistake, but relying on your words alone can create a huge mistake on the part of the person you are giving advices to. But if you are also a responsible investor, you should never take it easily as you also have to do your part through researching and building good strategies that will make you profitable. But if you're only here for quick profits because that's what you've understand from your peers, and that you go into an adviser that is not also reliable, so definitely you will end your crypto investments being rekt. In this case, all are responsible on your losses.

The rule is to sell when the price hits ATH, but it is quite a hard task to confirm the ATH price of any cryptocurrency. Some might get lucky in this.

If you're in a state of giving investment advice, suggest him and request him to do his own research and invest with the amount that he can afford to loss.

When it comes to money, there'll be similar issues arising, because everyone make big plans out of their investments. When it fails, it pains them.

In most cases, when we're new to the market we should focus on booking profit at the earliest and never hold long for big multiples. More that we hold we have the risk of losing too. So, based on our ability should be our investment plans.

Listening to others is bad and as also being an advisor is easy or just saying those common sense word but on the time that you are on the actual situation then applying  those things wont really be that simple for you to follow

Any investment do accompanied with risk therefore its just understandable that you would need to be doing research and analysis before making such step.It might not be simple but doesnt mean its impossible.

Having a good grasp and take that risk management is something crucial when it comes to this field and this is should how an investor do behave on.

I agree with you @ OP because most financial advice can be used against the adviser it is best every investor does their own research and be held accountable for their success and losses. To be on the safer side it is best to introduce people strictly to bitcoin and avoid shit coin if they insist on shit coin investment advice then their own research will be needed for that.

And before you give them advice, be sure that you are knowledgeable enough and it was right. But if you are not sure, better not do it as surely he will turn you back and blame you if they suffer losses.

But there is one way to avoid that possible scenario and that is you need to clearly tell them that investing in crypto gives no assurance of earning a profit and the risk of losing is too high. Then, it was their decision to continue or not and you are already out of it. And most of all, we have to encourage them to study the market first before investing just for the sake they got additional knowledge.

even if you feel you are knowledgeable enough and right with the piece of advice, still it is not enough to give this to someone. better keep it to yourself if he is not asking for it. but if someone asks your opinion, make sure you are clear with the possible consequences as you have other factors not in control. you are only limited to what you can do but if it is the market itself, you have no way of containing it.

Well, it's not bad to warn the others so that it will help them to minimize the losses or prevent them from losing. If someone you knew don't know what they are doing in the market and just blindly investing into something that's been on the hype and you know it, what would you do? I'll just take the initiative to warn them if I am knowledgeable enough in the market to save them from suffering and it's not bad either if you just want to help them. Just don't be too selfish to ignore what you see is wrong, sometimes it takes courage to change that.

That is the approach most people have in this world, unfortunately they do not know what they should do the moment they start losing money. I always say that the best thing people could do with the things they have in their hands is to make sure that they keep it safe, and if they are going to go out and invest they should know that everyone is out there to take their investment away from them, if you know this then you will act better. After knowing that, you should avoid making any further mistakes, all of your losses are on you and nobody else, of course people will try to take your money away, it is your duty to make sure that never happens.

Yes, you are right. Maybe we can give him advice based on what we have experienced or got and always remind him to be careful.
If it's an investment, you can also advise him to look for sources of information from other places and make comparisons so he knows what and which he can choose.
Investing can have consequences for losing our money, especially in crypto, because not all coins can increase together.
To reduce the losses, remind him always to use the money he can afford.

Some people are so self-confident and not ready for other people's advice that all good intentions to stop them from quickly investing will be useless. In fact, most people who allegedly come to friends for advice already have their own opinion and decision, and if a person is greedy, then he is completely deaf to the experience of other people's mistakes.

The best teacher is always your own experience. Only then do we look under our feet so as not to fall again.

Therefore, we must understand that self-education will protect us from all sorts of mistakes, and even more so from such a sharp reaction as the story written by the OP.

I keep on saying that to a lot of people, never you give any financial advice to anyone at all, just best to mind your business and focus on what you are doing instead of telling others what they should be doing with their money. This does not only apply to cryptocurrency and bitcoin, it also applies to other aspects of life, you should mind your business and never tell people what to do with their money, because if it happens that things turns out negatively and they lose their money, they will always blame you for that, and by doing so you have also created enmity between you and them.

So, we should learn to keep things like this to ourselves, and even if you want to advise, people do not tell them what to do, you can just make a suggestion, but not in a way that it is something that they must do.

You can do that in other industries or other markets but never on Cryptocurrency, where the volatility is so high that even the best investors cannot keep up with the market movement, so many unexpected things happened beyond the scope of understanding and analysis, and case studies are the Dogecoin pump and the Luna crash.
Here in Cryptocurrency expect the unexpected to happen, no guarantee we can only hope and pray, that is why you should only invest what you can afford to lose.

Often, people remain deaf to advice not to rush into investing due to the fact that greed obscures the mind. Upon learning of the "magic" way to get rich by investing in a single cryptocurrency, prudence and caution are immediately dispelled. Such people want to get what they want as soon as possible, but in the end, they get only a "headache" and losses.

Even one's own experience is not always and not for everyone a teacher. Although I am also of the opinion that there is nothing more valuable than one's own experience, nevertheless, there is a category of people who don't even learn from their own mistakes.

Undoubtedly, in such a rapidly changing world, where technologies are replaced one after another, self-education should continue throughout a conscious life, which will at least reduce the number of these errors.

Indeed, we actually have persons like this out there, who go into the market thinking that it’s probably just all about profits and most times, these sets of persons lack patience, they feel everything is supposed to be done according to their own pace. But, the only truth is that there is no investment that does not involve risk, as a matter of fact, investment itself is a risk.

Anyone who is not willing to take the risk is not ready to make investments, not ready to make money because money making is completely proportional to risk taking.

And others take this as a challenge to their skills to make a good technical analysis on the market and predict the next movement. But still there are going to fail no matter what because it is very unpredictable and the market is open 24x7, so a lot of things can happen along the way.

Lol, probably praying will not have an effect but being resilient and have patience and then learning from our mistakes will make our journey not that harder along the way.

Yesterday I heard that people are stressed because they lost a lot of money in cryptocurrencies, they sold their houses and land to invest in several ICOs and invest some memes of coins including LUNA, it seems that the phenomenon of cryptocurrencies that make a lot of people lose money will often be heard because many people are greedy and want become rich instantly.

In the end, we should always remember to tell 'NFA' so we don't hold ourselves accountable for what may happen in the future. When crypto is in the bull season it is easy for people to think they made the right decision but when the bear season approaches, the regret for not selling or for investing at all becomes visible.
It is very important people understand the risk and the rule of investment, once you understand both, you will be prepared for whatever the outcome will be.

That is really sad and I feel sorry for the people who did this and lost their patrimony, but couldn't they have at least put their funds into the most reliable cryptocurrency among all, that is bitcoin? First that it is a risky move to sell patrimony to invest (they are risking money they can't afford to lose), but since they are willing to it anyway, the investment must be very well calculated to maximize earnings chances.

To invest this money in ICOs, altcoins and memecoins is insanity since the beginning. These currencies don't offer any solidity and long term perspectives to adopters. Bitcoin, on the other hand, does, as we can see through its history since it was launched.

If we do not help each other with business or investment then no one will be beneficial. Your less affected friends and fully affected friends both heard about luna from someone. That someone also heard about that project from someone else but everyone here is not equally affected. This happens because one was aware of the risk so he diversify his investment and one was not so he lose everything.

Financial advice can be shared but also aware of the risk involved. If you didn't warn them about the risk then it's your fault too but if you warn them about it then it's their fault that they became greedy.

I mean the subject here (those two friends) are just looking for someone to blame imo. Your friend isn't really accountable, at least not fully anyway. Not only that, but there's also the fact that they missed the idea of diversifying their portfolio so as to avoid the huge losses one could get in these exact scenarios. Always think of ways you could avoid potential losses, and not how to maximize your profits when it comes to investing, especially in a volatile market like crypto.

And honestly, if you (or anyone else you know) were to give financial advice, it'd probably be better to NOT do it instead. If they're curious, let them find out about it. They may see you as a snob for not sharing, but they only really see the positives and turn a blind eye to the negatives.

I mean, financial advice-giving is not bad in itself, it's just advice. What someone else does with it is the problem, and we can't really be held accountable for someone else decisions. For the most part, we are all adults capable of making our own judgments and decisions. It's sad, no question, but from your story, your friend has also lost money on his investment and that shows that he didn't have bad intentions when advising his friends because he believed in the project. There are numerous advisory firms that offer financial advice to people in any aspect and none of those could be or should be held accountable for the decisions their clients make if that advice was not made with a deliberate intent to deceive the customer. Sure, we can debate the tactics of some of them, their fast-paced talking that is purposely designed to confuse the other person, their aggressive approach, and their complete certainty, but in all honesty, the investor should see through that bullshit, otherwise, he shouldn't be there in the first place.

There is no single rule to wise investment, it includes a whole range of information and strategy that can take years to learn. Trying to condense that into one gimmicky soundbite is doing a discredit to the hard work that some people are willing to put into a lifetime worth of finance research. One thing that many people do not have when they are interested in investing is a patience for the amount of time it will take to pay off - we're talking years and even decades. It also requires consistently adding more to your initial sum, not just expecting to dump $1,000 dollars into something and it to be $100k in a couple years, the best investors keep adding more each time they have cash available.

What he did by selling the house and land was really stupid and I don't think they learned properly about crypto,
important to learn in order to gain knowledge and skills because it will be useful,
with what they do they have to take responsibility for their own mistakes

just yesterday? this is happening for how many years now that ICO is taking money from the investors and yeah they are scams here and there.

then they are Stupid investors the, Imagine they invested the funds in BS project but don't know when to get out? lol kinda laughing right now.
Nope this is a normal scenery for many years now , because those people usually being lured in crypto telling that this can make them millionaire overnight lol.

the only mistake here is that your friends use important money or don't use unused money for investment. Using unused money is an important condition if you want to invest in crypto. using unused money for investing in crypto is an important condition because investing in crypto has a high risk and anything can happen, even LUNA who is in the top 10 of CMC can experience unexpected things.

Giving financial advice to everyone is our own choice, and no one can stop you if you want. However, we should never forget the risks that this crypto investments can give especially for newbies, as they may perceive it the wrong way.  Just give but never assure them. Always tell them that crypto is certainly about profiting and losing. You will have an edge and make profits if you come up with good market analysis, but you can't stop yourself from losing if you end up with wrong predictions. After all, the crypto market will always be unpredictable, the reason why only few survived from it.

The difference is, just because you may "feel" something, doesn't mean that it is the right feeling. I personally feel about the current situation as bad as well, but that doesn't mean that I should be doing something to regret just because of it neither.

I feel like the best thing to do right now would be to calm down and invest without any emotions. I get that the market is bad and economy all around the world is bad, some worse than others, but that doesn't mean that we should be fearing and investing with fear. I can't make profit very quickly; it will take time and that is what I need to learn and just buy and hold for a long time ignoring all the other facts.

Yes if you are the type of guy that is helpful and do care's for the people around you then chances are that you will talk to them and give them advises about finances because you see that they are on a bad situation. They are poor and not good at handling their money or investments.

You gave advice because you know to yourself that you are knowledgeable enough on this field. If not then there is no point of doing it because you will only look like a fool and they will eventually find it out. Once we lose, it is very possible to stop it. Only those who won't stop losing are people that are too emotional because they will keep on coming back in the game without learning on their mistakes first.

Don't think of making random picks on any investment. Make a brief study and invest, it'll lower the risk of losing. With random pick some get to be lucky to profit big in the short term, and this isn't the reality with everyone. Investment should be upon an asset that have a future vision and needs a consistent growth over the years.

Even after perfect research, sometimes we land on the wrong one. Take it as an experience and don't do it again. With investment each and everything is a learning, and you need to be in the process of learning which surely brings win out of the market.

The golden rule of investment is supposed to be "invest only what you can afford to lose" but idk maybe the golden rule of investment is not only one? And the rule that you said could be one of it. I gave out some financial advice to my friend and there is nothing wrong with it because in the first place, they are the ones that ask it not me.

From there they can agree that if ever they lose, they won't blame me for what happened to their money. Even if we know that we are one step ahead of them, we should not be confident with our ability but we must still be humble because at the end of the day, we can't predict anything that will happen in cryptos. luna coin for instance.

I like what you said - my mother is like this - always giving medical and financial advices and I always ask her not to do that. Sometime when you give advice and person do it - you are held responsible so stay neutral - try not to be over smart by telling other that you know a lot. I am going to tell my mother the OP post in the morning.

the golden rule is "sell on the dip"  ;)

It's very unfortunate to see investors can't carry the burden they got from investing into a wrong coin and they choose to end their lives.
Well because of what happened, I think I will not also recommend other coins to invest with when they want to invest into crypto other than Bitcoin and Ethereum maybe. No other altcoin and I will just let them decide which altcoin will they invest their money with.

This is why Youtube crypto influencers are always saying the infamous quote "This isn't a financial advice blah blah blah and it's only my opinion blah blah blah." I think giving financial advice is good in other assets such as the stock market because stock market and crypto market are very different. Crypto market is very volatile. I will still give financial advice if there is somebody who will ask me which coins do they need to invest their money with when it comes to crypto but I will only suggest Bitcoin and Ethereum. Investing in crypto is very risky that's why I'm always ready if the worst thing comes. That I invested into a wrong coin.

To answer OP's question, I don't have any golden rule of investment but to stick to your plan that works for you.

Never give advice or take advice. That's the ultimate Golden rule.
I mean it's your money, why to see someone who doesn't care about your money.
In this case the fault is of the friends who took advice from your friend. What if LUNA has never fallen, and they have got 10x profits ? Will they share the profit with your friend.

And a small tip to all the investors including your friend's friends. Invest what you can afford to lose.
Else Later period of time. You will cry on your decisions.
Hope this helps you Op to understands the situation better.

That's very good point mentioned.
Even if you take advice of someone - do your research and take appropriate measure accordingly. Never trust what people say - use your mind to and decide wisely.

Sometimes, giving personal advices can even lead them to their worst life's situation. The reason why as much as possible, i never tell them what to do and what not do. Because in my mind, once you enter the market then you should know how to manage the risk and accept losses once your decision making does not work out. Although we are free to give financial advices, but for me i prefer not to do it because i know that all of us are like sailing in the waves with no guaranteed destination. Everything is a challenge in the crypto market.

This is so unfortunate that some advices are so bad that it ruined the lives of the people.
I have learned it hard way - and I don't listen to the free advices given by ever passer by - so it's good to keep yourself save by doing a bit of research and then decide what to do and what not to do.

Giving financial advice is a good innitiative but it's also important to enlighten them about the risk of crypto investment. We should educate them about the possible outcome and advice them to invest what they could only afford to lose. We also shouldn't force them and let them decide on their own so they won't blame us if their investment fails. It's all about enlightenment so they will have the right mindset towards crypto investment.

Always tell them about the risk whenever you do suggest someone about crypto because most of the time the primary impression of people is that crypto is just an easy money quick scheme

thats why its always been suggested that you should not really make out those kind of guarantees on making profits because you would really be taking the blame once these fellas had faced up the
reality.
Golden rule about investment would be always on investing on the amount which you can afford to lose as always.

Sometimes, i really give financial advice when it's necessary. But i have always been honest to them and tell them that there are no easy and quick profits in the crypto market, losses and hardships must be endured first. So i make sure they understand my point so they won't expect to always see the rainbow but more on rain in their first experiences. That's also my way of not putting the blame on me whenever things have been totally bad for them.

Always learn how to carry out your personal research before investing your money on a particular project, because it will really help you to identify the type of project you are investing. Don't be an hurry to sell your coins whenever you see people rushing to the market to sell than to study the market price very well, if it is favourable at the moment for someone to sell and make a good profit or to hold to avoid losses from the market. Do everything possible to observe all the rules that guided crypto investment because it will really help you to remain in profit making in the community.

As investors, of course, we have to understand risk, most of us just focus and think that when we invest, we will definitely profit, even though the two sides, namely profit and loss, are the same, and when bad things happen we usually panic and immediately sell even with a loss position, this is a mistake which is common.

I wouldn't say that to avoid giving gambling advice, or to listen to others is the golden rule of investing. We can't no everything when it comes to investing, the markets are to big. It can be helpful to take advice from others, but we should always remain critical and make up our own mind. Trusting others blindly is foolish, but making our own research after getting advise from others is clever in my opinion.
For me the golden rule of investing is Diversification, never put all your money into one basket. Luna is a great example for risk management and how diversification would have protected us from decesratinv losses. If we limit ourselves to not put more than 10% of our money into one single alt coin, then we would only lose 10%. Owning multiple coins might make us lower returns if one particular coin rallies, but it also lowers our risk profile considerably.

After reading what OP wrote the first thing that fell to my mind is "never invest everything you have in one thing, especially not in some unknown project!"! I mean Luna?! For real?! And I guess it's perfectly fine if someone wishes to throw away a few bucks just in case it's a real deal, even with 50-100 dollars investment can bring a huge profit if it goes over x100, to not mention if it goes x10k one day! But what is crazy is to invest everything you have in some "Luna"! I am not sure what those guys were thinking... I wouldn't advise anyone to do something like this even with Bitcoin!

This thread is like a lesson for all of us! Never chase for quick profits! If you wish to have some fun and try something, it's ok, but with 1-2 percent of your capital!

Whenever you do make out some investment then its just sensible that you would really be making out some research first before taking any step further because that would really in resulting into that

loss of money if you do really let just yourself to be that careless when it comes to selection plus having those other considerations which is a must.If you dont put up some focus or attention to it then it would

surely cost you.Invest on what you can afford to lose and never ever tend to make yourself impulsive because this would greatly affect you.

When we invest, of course it's DYOR, if we don't do DYOR then we are like gambling, don't know where our money is stored, and cryptocurrencies are a type of high risk investment so I recommend investing only in amounts that we can consider lost, I think that's the golden rule of investment.

Before we invest of course we have to understand the risks that might occur including the losses we might get, that's why before investing there are many considerations that we should do, including analyzing the market before deciding to buy, besides that patience in investing is very important and at least we being able to maintain emotion in every trade that we will make, the use of cold money in investing and trading is important so that when we face a situation like today, our family or personal finances are not disturbed at all.

It is okay to give a gambling advice if we are good at gambling and the person that ask for our advice is also a gambler and willing to take risks. Listening to others is obviously not a golden rule because not all people are honest and not all are good at giving advices. This is where doing our own research can come in place. By doing this we can minimize the chance of getting fooled.

Diversification is indeed one of the golden rules but coin choices are important here. When you pick a wrong coin, you can risk more or your income are going to get lesser but if you are lucky that you pick the right coin, you can earn better and it can also lessen your risks at the same time.

Find non scam assets and dca

Informing / alerting the concern with risk involved as well, will alert him / her to think twice before he pitches in. But yes there are situations when a friend sees his friend gaining profits from a coin, he / she will tend to invest on the same coin confidently requesting his friend to get him the coins in his / her wallet. As he / she is new to the platform, he / she will go through beginning crisis with lots of losses but will yes certainly will learn and gain profits.

You are the ones who should really be trusting  with your own decisions in regarding with your investment thats why its really that sensible that you should really make out some in depth research before

making further step and come to mind off that it was your own money which means you do have the full control on what you should gonna do.Invest on the amount which you can afford to lose

plus having that kind of behavior on where you dont really hear up with others suggestion and recommendation.Always rely with your own preferences and likes.

There is no golden rule. . The only thing which works is luck.
If it shines bright on you - you are rich. If you are unlucky - you are looser. That is it. That is the real game. Nothing more  - nothing less.

Golden rule on financial investment can be an individual decision on what and how to implement such to suit their purpose, but one of it is what you have mentioned, i will like to add to that as well, ensure your investment is on what you're very sure about, don't invest on ordinary thing you just heard and know nothing about, carry your research before making an investment and be fully satisfied with all informations about the investment gotten from different sources, as for me, am not the type that like referral of a thing, I can't vouch on recommending you about something but i may advise you about it, the decision is left to your choice, what works for A might not really work out for B as expected.

Investment always has 2 opportunities, if you don't profit then you lose, don't ever think that investing in cryptocurrencies will definitely profit, this is what makes me never suggest to friends or family to invest in cryptocurrencies, even though there are friends and family who are active in crypto but I never told me about the investment.

That's why it's really hard to give financial advice even to our relatives and friends because they might have different mindsets and blame us when their investment fails. Some of them might look at crypto investment as a shortcut to getting rich and disregard its risk and when they lose, they will blame you for introducing it. You can share but avoid convincing and let them decide on their own.

A little correction from me about your assumption. I don't think financial advice based on someone's experience and analysis is 100% wrong. Sometimes it's true but there's always a chance it's not. The thing to remember is never to be influenced by a lot of other people's financial advice because we must have strong principles in this crypto investment.

It is true to say that any one's analysis and speculation about crypto prices is not financial advice, but it is only good for comparison with what we believe to be true. Have you ever had someone say at the end of their post about price speculation that this is not financial advice? If so, then that's the reason why we can't 100% trust other people's opinions.

There's only two ways which is to lose or profit and those things could really be affected with different factors thats why its really that needed that you would do all sorts of things and we know
that investment doesnt guarantee success thats why lots of trials and errors to be made before seeing yourself whether you are losing or making profit.
Golden rule is to invest on the amount you can afford to lose just like everyone else been saying because investing on the amount which you are willing to lose
wont really be affecting your greatly whenever you do see different outcome.

To many good words to follow and take it seriously like " if this is to good to be true its not true,invest only what you can afford to lose,never put 1 egg on 1 basket and don't put all your life savings in crypto " this few words is one of golden word for us to take so that we will not get hurt so bad once our investment fails and we should always be cautious or vigilant on our investments because there are so many scams trying to penetrate in the market and tempt us to participate.

Giving someone financial advise is no crime it's left for the person to either take or leave it as a choice left for him to make a decision from. Or maybe your friend must have compelled his other two friends to invest too only for them to have come into the market at the wrong time.

Some how, it's difficult to convince a person to understand how a business you brought to him with sugar-coated benefits and gains you're getting from it only for the person to give it a try too based on your advise for them to key into the business too but ended up losing their money. That's why for me, I'll always advise newbie's to invest certain amount they are ready and capable of letting go easily should the investment go south.

Giving financial advice to someone is not bad but one have to be very careful on the kind of financial advice that is given out.  When it comes finance it is good to advice people to save, when we save some money that is away to startup something good with the money . When it comes to financial advice about investment,  needs to be careful because every investment has it own risk , it can be low or high.

 It is not every risk that every individual can manage.  It is important for people to make their choice of investment,  giving people advice and the investment eventually goes wrong at the end can cause misunderstanding that can destroy friendship.

Good advises could really be able to read up and some of them are just that very common or known which do sounds simple but this isnt something that would really be applied easily by someone
thats why you do lost even more or simple miss  out those opportunities on making profits but instead you do lose.

Invest on what you can afford to lose but doesnt mean that you wont be taking seriously or doing all sorts of things just to lessen the risk so that you would
able to commit or get the different outcome.

It is true that getting advice from others could be a bit of a problem. Long term solutions to what we have right now would be to learn how to trade. I always said the same thing, if someone tells you which coin to buy, then you should stay away from that person at all costs, but if someone tells you how you could pick a coin to trade, then you could be doing a lot better. This is why learn how to trade, and not what to trade.

Diversification and DCA together makes it impossible for you to lose if you have patience. Those three things could lead any person, with any capital, to turn into a rich person with enough time, it may take a few years, or may take a few decades but they will become rich.

Well my golden rule of investment is, do your research, Use your own capital, follow what you had reach from your research and stay firm, it might be basic but many people do not follow this, it’s funny when people get into Crypto-currency and act as if the whole Crypto-currency investment is different from every other investment, that’s not true, it’s almost all the time the same thing. The difference is that this time around you need to learn About Crypto-currency first.

There is no golden rule of investment. Sometime the real profit makers are those who break the rule.
Like take an example of crypto - did those who invested in crypto when it started were following rule? They just travelled on the path which less people followed. And see where they are. Look for the opportunities and grab the best one !

I agree with this a lot. You have to arrange your own decisions based on what you can do personally and what type of person you are. You gotta understand that the point of the whole crypto trading learning experience is that every person is different from each other and their goals are different as well.

While one person could want one thing, the other may want something else. This is why I believe that we should not be really shocked at the fact that some people will learn it another way, while you learn it totally differently. Because your personalities and goals are very much different and that requires very different methods of trading as well.

I agree with you but I also would like to not blame your friend that much because, after all, giving anyone any advice is okay as long as one thinks they are right but the persons who are taking those advices should also do their own research and then invest as much as they can afford to lose and also they should always be prepared for the worst outcome! It is always better to handle money in own hands after learning rather than totally acting on someone else's advices!

With rising inflation and hike in petrol prices - I am not sure about other countries but the situation in our country is very bad.
People are hardly able to make both ends meet. How are people managing the gambling? and most importantly the loss of the money.

Yes, learning about cryptocurrency will really help you to understand so many things about cryptocurrency investment, which will help you to know when to sell your coins in the market and make a good profit at the moment. Never you get tire of carry out your personal research which will really help you to monitor the market price during the bear market or during the bullish market because during the bear market many people don't sell than to hold for the price to increase higher before they can sell while during the bullish market many people rush to sell their coins to make a passive income from their long term investment.

In investing, we need rules to limit risk. If the investment does not follow any principles, it is easy to lose control and lead to losses. Cryptocurrency investing is not always profitable for you so knowledge and rules are two essentials to help you limit your risks and calculate moderate returns.

2 or 3 days I'm sure many are crying because crypto drops significantly, the price of bitcoin drops from $ 30k to $ 22k and this makes us have to be wise and realistic in investment, but if we have a long -term hold mission then don't panic because things like things like This is common with bitcoin.

I don't think this is entirely your friend's fault, it means that his 2 friends don't have any knowledge of crypto, if they are advised and follow them. those who do not understand risk but optimistically invest, until they finally experience disappointment. Therefore, in investing in crypto, it is permissible to accept advice from others, but personal analysis must be used to determine our steps

Unfortunately, this is a very sad story that is repeated in the lives of many. This once again shows us that investing is not as easy as it seems at first glance, and that in order to be an investor, and also successful, you need to know the rules of this area. Give financial advice, of course, you can, but you don’t need to give guarantees that everything will work out 100%. After all, how does it happen? A friend sees what you earn and also wants to try, and here is an important point, you can give him advice, but at the same time you must tell him that he can lose all and part of the funds. If he is ready to take risks, then go ahead, if not, then let him not play this game. But in any case, it is a pity for those people who lose money.

The golden rule of investing, the most important one, is that you should invest only if you have extra funds just for that purpose. A ton of people look for gold in them thar hills that they risk it all, put up their houses, all of their savings... No one should buy into that notion, no one should invest if they don't have a surplus of funds, whatever that is for them.

Extra funds should be divided

1. Emergency
2. Savings
3. Investment

You should really be allocating or dividing with these parts and investment allocation is something that you do put
into this area on where at least you had already secure out those other parts which is really should be on the priority.
You cant really just focus or do put all in on a single point.

Never ever invest on something that you cant afford to lose considering that crypto market is unpredictable.

They don't have a knowledge in crypto and that is the reason why they seek advice to his friend but maybe his friend didn't give them a disclaimer that what he taught are not 100 percent guaranteed to work. That was his mistake there and now he is being blamed for their losses but time heals, if they are a true friend they will not exchange that friendship for money that is lost and besides, his friend can do something like paying them and continue to give them a much proper advice.

Now that this happens I think his friends are now going to be more cautious next time and they will now probably learn how to make their own research.

These few days make us depressed, I'm sure many have difficulty sleeping and do not feel good when eating, market drops more than 34% in 5 days, even many altcoins are significantly dropped like Ethereum which also drops more than 40% in a week, this is The more makes us have to be vigilant when investing, don't sell anything to invest in Cryptocurrencies because bad things can happen quickly.

I may hope you didn't go all into crypto?

Sure it is bad how things are looking but remember the global outlook is bad.
Make sure to hedge your investment, with sufficient cash, metals en perhaps some stocks..

When something bad happens we will usually realize and take lessons that putting money in many places is the most important thing. After the price of bitcoin drops more than 30% within 4 days I'm sure many are depressed and stressed, this is the importance of we understand the great risk that can occur, and in my opinion investment that has a high risk such as cryptocurrencies is to use money that we only think of will be lost, so that Whatever happens with the market, we will not be disappointed.

The same thing can happen to stocks or any other investments so it always comes with risk of losing your capital that is why it is important to keep enough liquid cash for survival before going to investment and also it is never recommended to go all it just diversify your investment portfolio into different sectors so it reduces the risk of losing all at once if something goes bad.

The rule to be successful as investor is "Buy Fud Sell Fomo".

I think the golden rule of investment is security, the greater the value of the investment, the higher the security, it is wrong if we put all our money and assets into high-risk investments such as cryptocurrencies, the opportunities for loss and profit are the same as what happened today when the market is red.

What do you mean bad thing can happen quickly? Do you mean this crash is a "bad thing"? Like it's the end of the world?
Bad thing happens only when you sell during this kind of market condition. But, buying or investing in crypto especially with Bitcoin is not a bad thing to do rather than letting it sit to your bank account.

You're a Sr member since 2016, you should already know that this is just another bearish market which is also essential for the investors. Nothing much to worry about and relax, accumulate as much as you can.

The golden rule of investment on cryptocurrency can be connected with the following saying "where there's a will there's a way" which means if a person has a determination to do something surely he'll find a way and succeed. This is what cryptocurrency investment is all about, if you're determined to be successful you can. There are more ways, but you should have the patience and the learning to understand the market and the opportunity.

Investment is like gambling, 2 sides, namely profit and loss, have the same opportunity, our mistake is to be too optimistic so we put all the money and even sell assets for investment, when a problem occurs, for example, the value drops, we will lose money, even what happened with LUNA has often happened in cryptocurrencies before.

I wouldn't be so sure about that. There are tons of whales who are very very happy about this situation, because they are seeing this as a chance to buy a ton of bitcoin all over again. I am doing the same as well because I believe that if we do something that the whales are capable of doing, then we should be quite happy about the situation as well, whatever whales are doing should be repeated by us.

People with a ton of money are happy that it is dropped so they could buy some more. Hell that microstrategy company is in 1+ billion dollar loss right now if they sold it, but they won't, and would probably buy as much as they can afford right now too.

Actually it's different when talking about both investment and gambling,
in terms of investment we can learn it and it is clearly inversely proportional to gambling which only relies on luck,
and to invest in crypto there is indeed a risk and we can learn it to minimize it

Maybe the investment perception of some cases is wrong right from the start. Maybe some constraints in the relationship make transparency not important at the start. in the beginning as well as the process that takes place. And it's also a memorable lesson for those who put absolute faith in anything they think is absolute. I think it's not only trusting someone but allocating assets to limit losses. Death is something more people need to be concerned about. Taking risks or looking for new opportunities is also well prepared, not just based on immediate emotional control.

To me the golden rule is to never bet on 1 horse.
Diversify your holding into stones/crypto/metals/cash en stocks.

Within this asset classes diversify too into more risk to less risk. Allocate your funds wisely because losing your hard earned money is terrible.

When we invest, the important thing is to do an in-depth analysis, then set all targets, if we don't set a target time or profit then when a little storm occurs then immediately panic to sell or buy, and crypto has a very high chance of loss or profit , spend more money without disturbing life.

NO, gambling and investment are different. Gambling purely relies on luck, the chance to win or lose is always 50:50. But investment doesn't rely on luck, we can improve the chance to gain profits by doing research or analysis. However, doing research/analysis requires sufficient experience and knowledge. Also, choose a proper strategy in investment and never try to risk our funds by holding those coins which have weak fundamentals or even have no fundamentals. If we just invest in BTC or top altcoins that have good fundamentals, I am very sure it is quite safe. Luna is surely a high-risk coin that never deserves to invest with big funds. Anyway, don't forget to use extra money only for investment, never think to use your main money for investment.

To me personally the golden rule of investment is never invest what you cannot afford to lose cause anything can happen on the way.Luna back then was one of the best crytocurrency project that people made huge profits from before the crash.One should not have leave all their funds in it after such profits there should have diversity their profits into other things as no one can tell what would happen in the next in the future.

I knew this wasn't far back when we talk about rules and principles that is to investing and they are right. Somehow, it guarantees safety in your investment as, that's the only way you could be willing to accept an outcome which ever way it turns in the end.
People tends to invest where they find opportunities and somehow, they never want to believe that, they could be wrong and all facts presented could be pseudo to what is obtainable but I reality or should I say cryptos, the worst often  plays out more than expected. Especially when you don't take precaution in choosing your investment.

I agree and there are the investors that when heard about diversification, they literally are diversifying. But to give them an idea, they have to diversify into good investments not just with random investments that they see that others are buying.
It's still a matter of importance to choose the investment where they will allocate their funds. It's not just about spreading it but also having the idea that they're going to help you out minimize the risk for your most investments.

But in reality, things like this are not easy and expectations like this are too naive to do considering that sometimes reality does not match what is expected.
Learning and observation is important but when doing it sometimes there are some obstacles such as controlling emotions in buying or selling and not panicking too much when a correction occurs which makes this not as easy as imagined.

A very good rule, I stick to it myself. Cryptocurrency is now a tool with the ability to multiply your money. A lot does not depend on you, so do not count on this money, it's like a casino. Shares will be a more reliable tool.

Lol this is not like casino because here you can earn if you study and learn well not like in casino that you only have a chance to win with LUCK and not with knowledge and skills .
so never call or compare crypto investing in Gambling.
and iN crypto investment ? it is yours that will be the tool to earn and not the luck that gambling may provide.

Comparing investing in crypto with gambling is definitely different,
it's true what you say and gambling is so dominant in terms of luck that knowledge and skills don't seem to apply,
it is much different from investing in crypto which requires knowledge and skills

One of the golden rules one should take cognisance to is the type of investment they vested their assets on, not all cryptocurrencies are really digital currency that has asset value or can be use as a store of value without regretting it at the later end, investment shouldn't be made on what many believe as get rich quick schemes, that is not it at all, we shouldn't as well be too anxious to making profit because in doing so we are reducing the chances of getting a reliable and trustworthy one.

That is why we choose an investment that we know we can manage. let's say, investing in crypto is welcoming all those who want but have to consider first if we are really prepared for the risk and that is really can afford to lose. As investing is not all about profiting, we sometimes lose because of our avoidable mistakes. If we can do good things by investing, doing hard work, and pushing ourselves to reach our goals, had no way we can't make it.

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The Golden rule for me in Investing is "Knowing more about your Investment".

This is an important rule everyone one needs  to follow while investing expecially in cryptocurrency,  people don't really follow this rule to invest cryptocurrency,  they think cryptocurrency is an investment one will just start and it will be bringing profits all through. Cryptocurrency is risky,  it is not advisable for anyone to invest all that he/she has or an amount that can't be afford to lose.

The golden rule for investing in crypto is to go ahead with the plan because the market is not fixed in one place. It is important to plan money will be invested and where to invest it, and to study the platforms carefully and understand the policy of that particular platform also follow their rules.

An investment advice "technically" should be given by a professional and those same professionals have made millions of people sometimes lose everything, but they are professionals and such situations do not affect them, because along the way they have made others persons happy, so even if whether you are a professional advisor or an empirical one, if you decide to give advice, you know that you must be emotionally prepared for any result, the rule of common sense not only in investments but in any area of life always leads you on the right track, but temptations they are there to break it, so in investments particularly there should not be a single golden rule, you have to have several, to support unexpected situations.

I'm sorry about your friend's situation and in general those who go through these very adverse situations.

In short "make some research" on which this is something that you should really be making once you do consider on making up some investment,you can't just put up on something without having any consideration whether it's a good one or not.

Somehow it's really truly hard to make up decisions due to lots of projects which makes even more harder to choose from that's why risk management or taking risk would be they key and expect the unexpected things to happen.

I think we need to invest in different projects. If we want to have a profit in the long term, then we should not be worried if our profit changes daily in the direction of decreasing. We must look at the total annual revenue and only then draw conclusions. If there is an unexpected change with some currency, then we will have several more options for saving our deposits.

I think long-term investment should also pay attention to the current market situation because the purchase price has a big effect on how much profit you will earn in the future .currently the market conditions are bad and there is a high chance that the price of bitcoin will go down, so I don't think this is the right time to buy because in the next few days the price of bitcoin has the potential to go down again.

Everyone has different plans and invest and there is no hard and fast rule for it.
My golden rule of investment is HONEST and trusting God to show the right and successful path, I always pray so that I make good and successful decisions.

The best time to buy is when the increase begins. Bitcoin is currently down. Yes, I don't think it makes sense to buy bitcoin right now either. It will probably be down for a while. It can be purchased long-term after a few weeks.

I want to say that there is no need to be afraid of sharp changes in the value of cryptocurrency. You don't have to sell everything at once. You can buy cryptocurrency at a price you like, but you don’t need to sell it. During the year, the price will change and the revenue will still be. We are always afraid of a sharp price reduction, but we have to wait a while and everything will be fine again. I hope so ;)

it is not justified to give financial advice regarding which investments to enter to others. And conversely, we should not immediately accept financial advice from others. Doing your own analysis is the best thing. be more confident and don't let dependence on others become a habit.

I think the golden rule of investment is the certainty of profit and safe, as we know that what happened to Luna has happened with many coins before, even when ICO in 2017 was successful but many scams, including when I was fooled because of investment in Centra Card, which at that time made Floyd Mayweather Jr. As a brand ambassador and I invest around $ 5,000 but after being investigated it turned out to be problematic/scam.

When venturing into either the stock markets or investing into a certain project, you should keep in mind that In whatever you’re investing in, there may be losses incurred. It’s not all projects or investments that turns out successful. “Ongoing successful” investments or businesses sometimes do incur losses at some point in its lifespan.
That said, you should do your PROPER research and planning. You should try to envisage the future so you would make wise and better decisions in order to make a good ROI. This cannot be overemphasized cause of its importance.
Also when investing, you invest with spare money that’s kept aside for that purpose. You do not use your rent or money meant for other purposes to invest in some “fantastic deal” and most likely end up losing out. That’s why you only invest with money that’s kept aside.

In my opinion, when investing it is wise to always diversify and not put all your eggs in one basket.

Yes my friends and big brothers like you had this problem by investing in cryptocurrency.  My older brother and friends, on the advice of other older brothers and friends, bought this Luna token for a lot of money.  For a while their condition was good. But suddenly Luna was worried about the price of tokens going down.  Two of my friends bought Luna for around Rs. 200,000.  Lunar's condition was very good then and the price was right.  When the price of Luna Token went down, I heard from my friends that my elder brothers had invested a lot of money in Luna Token.  When the price of the Luna token dropped, my two older brothers became very ill and even tried to commit suicide.  Then I heard from all those big brothers or their friends why Luna Token.  I think this is a problem for them because one should not give advice without understanding.  I think if I give good advice to someone, if he understands better than me, I will give him the right advice.  The most important thing is that it is not right to tell someone where to invest without understanding anything.  First you have to know yourself well about this investment then you have to give advice to others.
The words you said are very accurate.

Luna has driven many people crazy. I think it is better to give financial advice.Because if his problem is solved with my financial advice then it is much better.

Sometime the financial advisor also vanishes when they see the one advised in trouble. That Luna case happened with my friend too.
This is true it has driven many people crazy. I think right investment at the right time is a blessing too. Which hardly a few gets.

Many say that what happened with LUNA made the market red and difficult to recover, this is what makes us always realistic, I always follow developments and suggestions from several sites such as coinbase, coinmarketcap and so on, they suggest selling when the price drops 10%, and I followed the advice so that when the price of cryptocurrencies has dropped 10% in 3 days or less then I immediately switch to stable coins.

We can say that it did at least capitalized and started the dump. Then all the necessary things have happened for the bear market to just continue it. Everybody saw from ATH down to $29k-$31k for which bitcoin stayed there looking stably.

Whoever suggests you to sell or to buy. It's still yourself alone have to figure out on what you must do. Because you can't just rely your decision to them.

Coinbase, Binance or whoever crypto experts that you follow. You can use them a guides but not someone who just relies on them for your own finance.

I think the golden rule of investment is security guarantees, investments such as deposits, stocks, gold and so on will always be a top priority because there are guarantees, in contrast to cryptocurrencies whose value can be zero as happened with LUNA and other cryptocurrencies, without security even though the promise of profit high will make us doubt.

Let’s kick it off with some timeless advice from legendary investor Warren Buffett, who said “Rule No. 1 is never lose money. Rule No. 2 is never forget Rule No. 1.”

The golden rules of investing is to have a well and properly diversified portfolio. To do that, you want to have different kinds of investments that will typically perform differently over time, which can help strengthen your overall portfolio and reduce overall risk.

I agree with you that the most profitable investments are gold, precious metals, real estate. These things will always be expensive. Although there is a risk lose in value, but you can always sell these things and get your investment back. How much a person is ready to take risks and for what period of time he expects. This is also very important to consider when investing.

Conventional investments like that have been trusted for a long time so we can trust them to invest, especially in real estate where the price always goes up every year, with evidence that house prices are currently getting higher. but many people say where now to start for the era of investment in the promising food sector. Actually this is very logical considering that food is always needed every day by all of us, but all of that always has a risk, just like Luna.

The rule of investment are different for different people.
I have learnt a few things hard way. But I think one should keep looking for the opportunities and should progress accordingly.

This is a sad story. That's why since you want to invest in something, you have to do it yourself. If you want a successful investment, you must do it quietly and be very smart. It is not so easy to have a successful investment. Successful investors achieve such results because they do it independently and do not listen to anyone's financial advice. And then, the next step for your success to be valorous depends on building generational wealth (https://parentportfolio.com/generational-wealth/). These investments are part of the generational wealth you pass on from one generation to the next. These people likely can avoid student loans and other types of costly debt.

For me the golden rule of investing is knowledge of the subject. If I don’t know something, then I definitely won’t invest anything there. Knowledge is acquired through trial and error. I think that we can all give advice, but everyone should draw conclusions for himself. For one person this rule works, for another it doesn't. And it's very interesting to read, you can learn a lot of new things ;)

 Golden rule of investment is to be profitable in crypto market and avoid losses in the market, because many are still panicking about what they are experiencing from their investment in the community. Now that the price of coins has reduced for you to buy and hold till the price increase higher before you can go to the market to sell and make a good money from the market. This is not the best time to sell coins because the price is still low for anyone to make a good money from the crypto market than to experience losses from the market.

Many people are risk averse - they like taking big risks. For them big risk means big profit.
I also don't like taking big risks. I play safe - small steps everyday is my rule of game.

We do have different taking or plans or goals in mind on which we do really need to choose whether we do love to take some big profits or small ones or get contented on a small scale.
And on this time we do really create whether we do need to take big risk or would simply play on the safer side.Its a personal choice to make and the most important thing to consider
is on to invest on the amount which you can afford to lose and dont go all in or go overboard with  your finances since we know that crypto market isnt something that gives out guarantee
but since we do speak about investment then it do always ties up with risk.You wont really gain something if you wont really make out such step, so its up to someone.

As investors we must understand everything including risk, bitcoin is very high risk because the price can drop tens of percent in a short time, as happened a few days ago, and the case of LUNA which is almost worthless because it drops more than 99.9999% in less than 5 days makes us always wise.

Not only with the OP's case, but I see many people around me also facing a similar situation when they are too trusting and dependent on someone. I myself feel worried for market participants when they don't research everything but are willing to buy blindly. There are people I know who even mortgage properties to borrow to buy crypto. I am not sure if they are understanding the concept of investing or are making themselves gamblers in a market fraught with risk with inexperienced people. It would be better if everyone involved thought about the opportunities they would have as well as the risks they would face if they did.

IMO Golden rule of investment is a risk, always remember there is always risk in every investment, especially in crypto.
1. invest only what you have to afford to win or lose.
2. never loan or borrow money to invest.
3. don't invest money what you will need for a short period of time
4. always Dyor, study the investment before diving into it.

If you keep crypto aside then the golden rule of investing in buy the assets. Some People will laugh and say everyone knows these so this is not important to know. But What I see is people know these rules but they do not know what assets are and what liability is. They brought liability instead of assets and later regrate buying that thing.

If we bring back crypto investment in our discussion then I want to say keeping your full portfolio in crypto is extremely risky and is a bad idea. Spreading your money too much is not also a good idea but crypto should not be your only and primary place of investment. Like OP said how luna disaster impacted someone's life because most of the investment was in crypto and in one particular crypto asset. If you have extra money that you were going to spend in a club or in a party then brought some crypto with that money. If you are lucky it will change your life and if not then you just missed the amazed of your party.

Diversification here I think we should invest in many different industries and sectors and not just invest a lot of coins in crypto. Crypto is equally risky, and investing in different coins helps to reduce risk a bit, but the best thing you can do is diversify your investments into many different sectors such as real estate, securities, etc...

Considering the current state of the crypto market, you may find that if you only invest in cryptocurrencies, whatever coin you hold at the moment isn't making you any money. Diversification of investments is therefore essential.

For everyone rules are different - but it's good to discuss with the people who are already in the business.
This way you get ideas, tips, dos and donts - - It is also good to learn from other people's mistake rather than making your mistakes.

If you are wise then hearing out others advises and experiences would really be a good stepping stone for you to learn without the need on experiencing those losses which you are already aware on what would happen

but of course we do know thats its impossible for someone not to commit or experience any mistakes along the way yet its been part of the overall process or career where it is really there.

This is a continous learning where everything doesnt really assure positive results which means that you would really be able to experience that you havent experience before
and see for yourself and able to find out your own ways on how to deal with these things even though it wont be simple but its worthy to deal off with.

Before we invest, of course we have to be dyor, all investments that have the opportunity for big profits, then automatically have a high risk, cryptocurrencies are very difficult to guess, and what I have experienced since I invest from 2016 sometimes laugh and sometimes cry.

There are actually a lot of "golden rules" for investing. Whether you're a newbie or not, these are the few that I think should be remembered.

1. Never invest with others money if you're unsure of what you'll do.

2. Test the waters and assess the risk.

3. Invest only to the investments that you know.

4. Keep learning not just only from your experiences but also with others.

That's true and will be very helpful for sure because by exchanging ideas and discussing our knowledge will grow,
it's just that when you learn from other people's mistakes it doesn't really work until you feel it yourself,
but surely everyone has their own way of dealing with it

When the market drop is almost 8 months since New ATH in November 2021, many investors do analysis and rethink about investment, but if the market skyrocketed, most investors will think that cryptocurrencies are the best investment, from this fact we must understand that any investment always has risks for drop.

I believe that the number one thing that I always do is long term and will always do it. Number one is a weird thing because there are so many crucial stuff, like investing into silly idiotic stuff that are obviously bad but just liked because of a hype is something you should stay away from.

Or someone that promises you something too good to be true, usually is. But the long term one has helped me more than anything else, do not invest and wait for a response in a few days, invest and wait for at least a few years, it would be awesome if you could wait for at least a decade, that's how you make all that insane big number profits in the long term.

Emotions would really be changing basing on the condition on what we are facing yet people would really be that different impressions towards things then it would be understandable that we would be seeing different

reactions on certain scenarios or situations and speaking with investment and its risk then it would really be normal that we would be setting out some limits because if we dont then we wont really be doing our best
on minimizing that risk or losing money as much as we could.We know the importance on making profits or making money but it seems people arent really just too mindful on lessening the risk factor.

Golden rule would be particular talking on invest on what you could afford to lose since not all would really be that too meticulous when it comes to their finances.

The golden rule of investment is right decision at the right time.
Investing at the early age when you don't have much liabilities on your head is the best rule. Most of the people waste their time in fun but those who work from an early age are the real heros.

Cases like this we often hear since the presence of cryptocurrencies, in the past I still remember when someone sold home and all assets for investment at ICO such as OneCoin but after almost a year the project was not accepted in the market and proved scam so that thousands of people lost money and until now the FBI still Looking for the scam project owner.

I am very shocked the news of the friend. Personally, I lost a little of my money to invest in Luna. There are many people who lost their money to invest in Luna. Most important that you should not invest full of your money. You invest 25% - 50% of your money that is wise decision as I think.

I agree. No need to rush to invest all your money and wait for the result. Regular investments of amounts that will not cause much damage to the wallet will help you lead a normal life. And of course, you should always be ready to lose some amount. This is a cryptocurrency and it has its own laws. If you are interested in this topic, then you probably know everything without me.

Rushing doesnt really give any positive outcome specially if you havent done some proper or in depth research about such investment then it would be totally a gamble which isnt something recommendable

because you would really be in losses if you are really that having that kind of behavior.Invest on what you can afford to lose and dont into certain extent which would really be derailing you towards your
target or goal.

Expect losses but doesnt mean that this would really be the reason for you to stop but instead you should make yourself able to learn from those things and make
yourself improve on investing no matter what space you are into.

rushing into investment it's like a digging a hole of loss because investment is like a planning strategy who's everyone who knows the system of investment have to search and research for that particular thing that I want to invest rushing into investment always make or cause loss of money for that particular investment because you don't know how the investment run or high goes about so someone who exercise patient into investment always benefit from it

If you were to lose all of your investment, not that you plan on or wish to, it must be that it doesn't cause you hardship.  Meaning you can afford to lose it all and it doesn't change your financial status or lifestyle.

Losing an investment is not something that is planned or desired by those who invest, but some of those who invest also often forget that the risk of losing when market conditions begin to change may occur and they are not ready for it even though they can still live as usual. But I'm sure those who have lost a large amount of their investment must have experienced some frustration and depression.

I'm really sorry about your friend. He bought this bad experience very expensive. He will remember this for the rest of his life. I am sure of that.

I don't have any major advice. Buy when everyone is selling and sell when everyone is buying; one of the rules I try to apply the most in the bear market. I try to buy gradually in the days when pessimism prevails in the market and there are big breaks. Then I sell what I bought while the dead cat bounce (https://en.wikipedia.org/wiki/Dead_cat_bounce) is happening. In a bull market, I sell my holdings at the point I am satisfied and do not enter the market again until favorable conditions are established.

To be honest, it is their fault to just follow everyones advice without knowing the pros and cons of each decision. Blindly trusting someone especially on investment matters are really stupid decision to do unless you do some research first, the blame should be given to those friends instead. I have a friend that asked me for some advice, I said "I'm not a financial advisor and the risk is yours, I don't want to take a blame if you do something wrong" and if they want to proceed then we will learn together. I don't want to see any complain after that, those friends probably have really bad condition.

In fact, it would be quite surprising if someone felt great joy from having lost most of their investments ;) I can't imagine what an irresponsible person you need to be to advise your friends and acquaintances to invest in such a risky business as cryptocurrencies and not warn about all the risks associated with it. It is also necessary to warn your friends so that they do not invest all their spare funds or savings in such things. I still, unlike Marvell 1, by no means urge you not to offer such investments to your friends and acquaintances at all, but you should still treat this with extreme caution and responsibility.

That's true, it wasn't planned, but we must also realize that losing is an inseparable part of investment.
so we will not always be on good results or profit when investing and there are times when we experience losses,
and indeed when we experience losses there are many factors for sure and that must be identified immediately so that it doesn't happen again

There are a ton of places that could get people together and they could share their thoughts there. Mainly these places are in the crypto world of telegram, there are stuff in telegram that are not related to crypto at all, but that is mainly what it was used for.

This means that if you could find a chat place there and you could talk with other people, even if you can't get an advice that you think would be worthy, at least you would be able to get something that would be showing you what the people are thinking and how they are approaching things. And to be fair I have to say that this is going to be quite important because learning what others think matters a lot.

Losing your invested money is very unpleasant. But none of us are immune from this. If you haven't invested your last cash, then you can survive. But if a person has invested everything that he had, then of course depression can begin. Before you start investing, you must be prepared for the risk of losing money and then life won't be so bad. We all have to take risks when investing.

Its never been pleasant because we dont like or want to lose money which means that its normal for us human beings to react hard whenever we do experience such thing on which we dont really want to see

our investment do going down or entire portfolio which it is really that normal for us to have those kind of reactions thats why its important to accept out on losing on the amount which you can afford to lose

so  that you wont really be freaking out on the times where the price do decline or having those losses.Investment does have certain risk and it cant really be changed or altered.
Dont go all in or something you do really make out investment on having in full blast. All things doesnt give out guarantees on which you should really make yourself prepared.

The loss and the gains are not in the control of a person. What matters is how you cope up with the losses and gains.
Sometime - the loss brings you to some wise decisions of the life. Which are very fruitful in the future. where are some gains are painful. I guess the right decision at the right time are very important.

I think that in any investment the key is in Hodl, that is, waiting as long as necessary until obtaining profits, but we must bear in mind that when investing, a person must know that he does not need that money, not use it, make an account that this money does not exist so that investment can make sense, as a friend says, you have to have a stomach to endure what comes to you, in the books of Warren Buffet, when he chose the stock to invest (after a long time investigating which was the best) he waited 8-10 years to earn and make profits, and this is only in the stock marke, in the crypto market we know that the safest stock or currency is btc, and you don't have to wait so long for it can make a good move.

I agree when it comes to investment one of the important keys is Hodl, but there's something that we should have before we invest and that's having a good mindset, not rushing to be quick rich, knowing the risk from the project that we invest(dyor), and willing to spend our money that we can afford to lose. Many people just don't care about that thing so they only know about the other people getting rich from investing.