Bitcoin Forum

Be Decisive with Your Coin

Hello,

When you can make appropriate and credible decision quick that yielded proper result you are considered to be decisive. Making or taking a good decision in cryptocurrency cannot really be oversize. It can be considered to be the bedrock on which success can be built. I could remember when I made hasty and uninformed decisions with my coin and the effect it really has on me it was not a pleasurable one.

Has there been anytime you made a proper decision with your cryptocurrency or improper decision, what was the decision you took and was it successful? Do well to share your experience with us and possibly lesson we can learn From it as the saying goes ''experience is the best teacher" Although "Knowledge can be the principal in the school of experience".

In addition, If there are possible decision you know one can take that would be of benefit feel free to share.

Before you can be decisive in cryptocurrency, you have to have a certain level of confidence in yourself from what you could be able to offer to yourself, many of us won't be decisive because we are too dependent in whatever we do, being decisive begins from how you're able to allign to learning, having new ideas and being innovative, if we know nothing, am sorry we cannot make any decisions on our own talkless of it standing.


If you can dream it then you can achieve it, learning is the begining of it all, which is the first step of what should be seek after, when you get it then you're independent and can be decisive.

Because of greed, I was able to make hasty decisions that made me regretting in the end. That was the time when I never realized that bitcoin is only for patient people, aside from the fact that it’s a long term investment due to its highly volatile and unstable market condition. That time, I end up losing consistently until I realized I have to take a different perspective about bitcoin. Perhaps that was happening too because what I invest is never a small amount, but I jump on investing big that is obviously not an amount I can easily afford to lose. Now I’ve learned my lesson to take one step at a time, and to never expect too much from bitcoin especially if you are just a beginner investor in the market.

If it applies across every area of crypto investment, then I can say that the most important is deciding how long you want to hold your coin, the price at which you want to sell it, and the goal at which you want to archive with it after you have met your desired profit in the crypto investment. Secondly,  decisiveness on the coin or token one wants to invest in. There are some people who wish to invest, particularly in Bitcoin, but along the way, they get misled to invest in some altcoin projects, probably because of the promise of high APY from staking. Just last year, a guy wanted to invest in Bitcoin with about $3200 capital, but his friends convinced him to invest that amount with one defi project because of their 40% APY. But today, his investment is not even up to $67, even with all the compounded tokens from his APY. So, I just think investors should be decisive about the coin they want to invest in and also let every investor have a certain amount they wish to sell, so that if the market price falls, they wouldn't panic to sell, and if the price rise, they wouldn't be too quick to sell for just a little profit.

I tend to agree with this.
Jumping in with huge investments without a solid understanding of the market dynamics and risk management might lead to significant losses and then learning the importance of patience and a long-term perspective is spot on.

Because IMO, being a beginner investor in the cryptocurrency market comes with a learning curve and there's no shortcut, it's important to gather knowledge and seek advice from experts to gain experience.

Its your coin so if you believe in them without doubt then support them with all your best. Well not all can be succesful with that and for sure some will definitely fud or bash it. But it doesnt mean you need to act negatively. Always turn those with positivity and definitely will let you feel that your decision on supporting that coin or token is thr right move. There is always a lose in a trade only making up to those loses.

Be patient and very careful when making decisions. You shouldn't rush into investing because of greed of quick profit but learn about the risk management and come up with a strategy that you will use to overcome the risk. As for the possible decision to be taken, one should have the believe and confidence before talking the bold step so that you wouldn't be discouraged. Think positive and work towards it. Nothing is impossible when you are determined  to achieve it.

Taking any action if done in a hurry usually always ends badly. Especially in the realm of crypto investment/trading, it is certain that the rush will destroy it. As you (OP) said, buying coins or crypto assets, but in terms of analysis or in terms of information that is still lacking or immature, that's for sure, it's likely that taking such actions will harm yourself. So the point is a feeling of haste, indeed it must be avoided, especially when it is related to money. And apart from the feeling of haste, the traits that you should avoid are greed, laziness, and inattentiveness. In the world of investment or crypto trading, this attitude must be avoided.
To be honest, as long as I have been involved in trading and investing in crypto, I am grateful that I always do the right thing. The exact meaning here, I have never experienced a big loss. Then for small losses, I don't consider it.
Then the action that I considered appropriate, I used to decide to invest directly in bitcoin. so from the start I didn't get confused about memecoins or altcoins, but I immediately put the money I had in bitcoin assets. And as a result, if I sell the bitcoin that I currently have, I already have a profit. But for now I'm not going to sell it first, because I'm waiting for the bull run market or the upcoming bitcoin halving.
The most certain and the most accurate. For these years buy bitcoins. Because in the next year bitcoin will experience a halving cycle and usually after that the price will increase dramatically. So this year is a golden opportunity to buy bitcoin, because the market price is arguably still not too expensive.

The proper way to be gain confidence in making decisive decisions as it concerns your investment in cryptocurrency is to give yourself to learning first, when you build a good knowledge about cryptocurrency productive decision making wouldn't be a thing based on guess work and luck for you but would rather be based on your critical analysis and study of the market based on a what you know and addition to experience.

If my memory serves me right I can remember around november last year someone told me about a landed property that was put on sale asking if I might be interested to buy, of which I was due to the location. But at that period what was at hand with me was just half the total amount the land is put up to be sold.

Then I thought about withdrawing part of my BTC to make up for the total amount because the land was in a good location which I don't think I'll like to miss buying and the price was good too as the owner was selling in distress. While I was thinking of withdrawing some of my coins I had a second thought of taking a loan to fill in for the total amount for the land, considering that by the next 6months above from when I take the loan bitcoin should have rise in price from the $16k it was at that time.

To cut the whole story short, I took the decision of taking the loan to get the land instead of withdrawing my coins cause that wasn't my initial plans for it, then it wasn't long before bitcoin price rose above $29k by  May 2023 and I was able to earn some profits from it that I used to pay off nearly 95% of the loan amount I took.

Before taking such decision I had to weigh the odds after critical analysing the chart based on my level of knowledge and in addition to the bitcoin bull run in anticipation which gave me the confidence to go on with my decision for a loan. But that doesn't mean I didn't had a back up plan from my salary on a monthly percentage reduction for  servicing my loan just in case things go south. (Always have a backup plan).

Making hasty decision into doing something most times always turn to regret and those actions can’t be undone again when the mistake has been done but can be corrected going further. With some hasty decision given you a guide in the next decision you make, some will forever make you lose an irreplaceable asset or valuable in your life. But as you’ve mentioned, it can be considered as the bedrock where success is built which is very correct.


There was a time the market was moving in an uptrend in a successive manner and then goes down a bit before taken the next movement upward. I wanted to make profit and was continuously buying when the price goes down a bit and then sell when the price moves up a bit thinking that I’ll make a lot of profit in the end. But at the end of the day, I was not able to retrieve my capital back. It was a lesson I learnt and since then I came to know about DCA method, which has been favourable and you don’t need to panic about your funds when you’re saving for long term.

To be decisive is the ability to handle procrastination and make quick decisions. Investment decisions should be a product of knowledge about the business and not driven by greed or fear. After a good analysis of the market and you find out that investing in Bitcoin will be favorable, that's when it is important to make a hasty decision to avoid missing the opportunity.


I can remember when the price of Bitcoin was dropping last year. I was advised by some persons that I thought were knowledgeable about the Bitcoin market to sell off my coin because they predicted that the price will keep dropping and not recover. It was a decision I had to take within one day. The only place I got the right information was in this forum because the media was filled with FUD-triggering news. I kept reading posts here and I ended up not selling my Bitcoin. Today I am happy I took the right decision to keep my investment.

When it comes to cryptocurrency investment one really need to do his/her finding very well especially with Altcoin.

The two things that I based my decision to buy and to dump what's on my portfolio are my criteria and control my impulsiveness, my criteria are,
is the coin has a use case and platform that will benefit the whole community,
who are the developers and are they capable of completing their roadmap,
and what kind of promotion they employ are they relying on the usefulness of their platform or more profit generation if I saw all of these in a project be a candidate to be in my portfolio.

Impulsiveness is something you should avoid, especially when a project, promotes itself as the next big thing and just rely on shills without a use case to back it up.
So far I'm good with my all criteria I experienced losses but my gain is good because as long as you DYOR you are good.

I personally don't want to include quickness in making a decision so that you'll be considered decisive. If you want to make a resolute stand on something, you take time to do due diligence. You take time to research and look for answers to your questions, so that the moment you make a decision, it is firm and solid. You can't be haphazard in trying to understand and decide about Bitcoin and the bigger crypto market.

Most of my mistakes are decisions that are uninformed, quick ones. I used to be loyal to certain shitcoins, for example, because I didn't spend a good amount of time understanding them and their true potentials. I just jumped right into them primarily because of hype and hodled them. I was wrong.

Yes, I fell for the pump and dump scheme at the beginning when I first introduced the trading platform. Have put in around $2k for new altcoins in 2018 with weak preference knowledge and it never crossed my mind that such a scheme exists. What I know, with a good chart I will double my capital faster.
It really traumatized me so much that I took a break from the crypto space for a few months.

Making a good decision in crypto trading is very important.  There was a time I made a very bad decision in crypto trading and I didn't have a good knowledge of how the crypto market worked. I invested my money in a project and when the token got listed in exchange I was in profit but greed made me not sell it and I ended up losing my money on that investment. You must always know how to manage your risk in crypto and knows how the crypto market works to make good decision in cryptocurrency

At the time, when I was a beginner, one experienced user taught me, saying if something confuses you about a new coin, you are not mistaken; it is a scam. Since then, I have been confused by all the alternative coins. Watching the development of new coins, you can find many old examples of previously similar ideas that did not live up to their final. Therefore, the only coin that still commands respect is Bitcoin. Yes, I was wrong about the timing of buying and selling, but this experience is nurtured, and with the rest of the coins, my whole experience is full of disappointment.

The main thing is most people who are investing in altcoins are not making any effort of their own and just inspired from others influence to invest like so called social media shillers.But they forgot they are paid to advertise and hype is temporary with fake volumes pumping and when you invest chances are more of losing.

But I also think that if you are new investor then have some knowledge of market and don't focus more on shitcoins because you can get equivalent amount towards bitcoin with more advantage if you have long term goals in mind but at last we have our choices.

Being patient is very important on bitcointalk and in learning bitcoin, I don't know why some people will just ve rushing after what is not chasing them, if you have enough patience, you will eat the fattest bone, rushing into doing things will only leads to making inevitable mistakes and that might have been too late to correct in some cases, this community is not also a place where OP may think as the fastest place of making money, what we do here is to make bitcoin discussions and other affairs in cryptocurrency, don't also let the fame with alts choke your eyes in eagerness to make fast money and loose everything to scam.

I made some bad decisions with cryptocurrency. One of the worst was selling all of my Bitcoin in 2017 when the price was around $10,000. I thought the price was going to crash and I didn't want to lose money. But of course, the price kept going up and I missed out on a lot of potential gains.
I invested in a scam coin. I saw a coin that was making a lot of promises and I got caught up in the hype. I invested a lot of money into the coin, but it turned out to be a scam. I lost all of my money and I learned a valuable lesson about doing my research before investing.

One of the best decisions I've made was to do my research before investing in any cryptocurrency. I read up on the different projects, their teams, and their white papers. I also looked at the market capitalization and trading volume. This helped me to make informed decisions about which coins to invest in.
I diversify my portfolio. I didn't put all my eggs in one basket, so I wasn't as heavily affected when the price of one coin went down.
I hold on to my coins for the long term. I'm not interested in day trading or trying to make a quick buck. I believe that the cryptocurrency market is still in its early stages and that there is a lot of potential for growth.

One thing I learned to accept later on in cryptocurrency is that, you can never be way too smart on investments and no one is a know it all or a know it more.

Over the course of me taking altcoin investments in the genesis years of my crypto journey, I looked up to mentors for clarification on what coins to buy or not to buy because, I had no confidence in what I could do or evaluations I could come up with. I trusted so much and had to buy when asked but guess what, both myself and the acclaimed ended up loosing more often than we won and the wins were never noticeable.

It tells you, no one is best and what happens is just speculations out of what we merely think could be. So, you choose today how to invest your money, on what coin and what’s your goal for a project. That’s just be it and should it go south, you’ll be good to suck it up.

You know how seasons works in real life? Same happens in Crypto. You should know when to rotate your money from one season/category to the other.
Here is a link which you might want to look at to understand which Season we are in currently - https://www.blockchaincenter.net/en/altcoin-season-index/

According to the data, we are currently in Bitcoin Season.

I just check the link you provided data's were presented but not much were written to explain the season. If you don't mind you can provide a hint of one or two that can give me insight to  seasons in crypto.

You are really in control of your coin - and for that fact, I think you're also responsible for any actions you take, good or bad. I took the wrong track once when I was still a NEWBIE in crypto - I deposited some little amount of SATs In my wallets and left it there, with the hope that it rises maybe in the space of weeks or months without a second thought.
Then my hope was crashed as BTC went below the belts - I lost almost half of my initials and that wasn't funny at all.. I really felt dumb - more like an ass but then, when I learnt my way to this day, I realized that I didn't even make any analysis and that was the problem... I'VE LEARNT ALOT ON BTT.

Sandra 🧑‍🦰

I would say mistake are some of advantage to us but it would sound someone odd but the truth is that we actually make these mistake in order for us to grow and take to correction and the best part is that your mistake can also teach someone a valuable lesson in the right track to take as I have learnt alot through this forum about such mistake like yours and on learning all these have guided me not to make these mistakes myself.

It will take a while to read and go through all the posts well I think probably the initial stage of every member always carries the same semantic decision loads and as if the decisions seem familiar to each or you can simply say frequent decisions carry the same results as well. In my case, I never came up with good capital in the market in my early days.

As for students I took my entry in the crypto market from the Airdrop hunting to here my journey is transparent haha, I was not even sure how long it will carry me but now when I look forward and backward I feel like I really made some good decisions as for staring a journey with crypto rather than wasting time on the survey sites haha as all the pozi stuff. I was an Airdrop hunter now ALhamdullilah I can say I have a little experience in the market as I can trade in most of circumstances.

Who wouldn't want in control of their coin especially if the decision you will make can cause losses in profit. Anyway, mistakes is what will help us make good decisions in thr future since you already know the outcome if you make the same decision you make before again then the result would be the same. No matter how smart a person is there will be bad decisions that he/she will make. When you have good controyof your coins means you are responsible and won't get tempted by greed.

The last bad decision I made was when I was a newbie and I want to sell a coin I bought during bounty and along the line I wanted to sell but as a newbie I didn't know how to set the price parameter well and I obviously sold my coins underpriced since then I realized that,  in cryptocurrencies,  you are born to make some irreversible mistakes that could cost you the entire portfolio.

So for that,  newbies need to be very careful about some things and for that to happen one needs to be very wide in knowledge and research that can expose you to much information that could save you a lot.

Before you invest in a crypto coin, you must know well the coin deeply. So, you won't experience a hasty decision on the coin without know well the potential of the coin for the future. It is quite strange that someone invests in a coin but he don't know well the coin is. Sure, to know the coin well, we must take a deep research and it can be done only if we have good knowledge about crypto. That's why we often see the people's suggestion that everyone who wants to begin crypto investment/trading, they must learn a lot first. Knowledge is the key besides having good mentality.

I also experienced taking the wrong decision on my coins. Most of them are caused by being greedy and lack of knowledge. Once again, knowledge has a very important role. And we must avoid greedy as well, this attitude really impacts badly. I lost quite a lot a few years ago because of greedy, it was a very sad experience that become a very big lesson for me.

But sometimes you can't afford losses so it's better to be on safer side beforehand and invest money wisely.So suppose you have limited resources and you spend them on some useless token that turn it all into loss so you now have learned lesson but at what cost? So if you stick to some good options like bitcoin for long term only then you don't have to worry a lot but still we learn from mistakes but there are people who will continue to do the same thing even after realizing what they have done.

Being decisive with your coin is related to your degree of confidence; if you're not confident in your judgement in cryptocurrencies, you'll always end up regretting your decision. It is acceptable to fail often, but keep in mind that experience is the best teacher you will ever have. That will only increase your knowledge, confidence, and scepticism when making a fresh decision about what to do with your coin.


There have been numerous attempts by me to make a decision that does not favour me, but since I've made the decision to accept the outcome of my decision making, it only makes me more enlightened when making the next decision about what to do with my coin. It is your decision, and you will never do it properly unless you learn and do what works best for you.

Well, in my experience, timing is very difficult to guess. Among my most improper decisions there were coins I sold too early, before they took off, and coins I never sold which are now worth nothing but they could've loosen my financial obligations. Don't take me wrong: I made some good decisions too, so my economy is better now thanks to crypto, but losing money due to hard and bad decisions in this world is much easier than we can think in beforehand.

I suppose that one must live it, according to what you said about experience, but in case knowledge is enough to avoid failing there, I hope my testimony helps.

one of the first mistakes made by newbies is making a decision about a coin because some crypro influencer has made a prediction that it will xxx in 2 weeks. The fear of missing out kicks in and they join the train to buy the coin without acquiring the required knowledge to come to a conclusion about the coin soon after they become rekt. This was what I did in my earliest days in crypto. Bitcoin was the second coin I bought but the first one that forced me to do my own research and take a decisive step.

If there are no mistakes then there won't be any lesson. I remembered making same mistake some years ago and I lost some of my funds. There was this project that was over hyped and everything looks good. I was young and naive to most of the crypto scams, I was carried away by the publicity and the partners backing it. I bought with most of my funds, few weeks after the project owners pulled the plug and that was the end.

I've come to accept my past mistake and I learnt two valuable lessons to always do a proper research before investing in any project and to invest what I cannot afford to lose.

You are right and I completely agree with it but sometimes we can't help it if we made some losses even if we intend to stay on safer side. I am sure you know that some people did really want situations that are on their favor but ended up on losing side and that's why I said that sometimes doing mistakes unintentionally or unintended will help us learn to never do the same mistakes again. It's not about saying that someone should want to do mistakes intentionally to have losses. I know you get it and I also understand your point which is why I completely agree with it.

I've a lot of bad decisions but I've done good as well so on this I'll tell the good one for which everyone has probably experienced as well.

And that is stocking Bitcoin. Yeah, the holding of Bitcoin is one of the best decision that I have ever made. Some may be lucky with meme coins or any other cryptocurrencies.

But for me, it is with Bitcoin and I am sure that many others as well have done the same thing and it is what we're telling to people nowadays. To Buy Bitcoin.

My guess is that you meant overemphasized, right?

Decisiveness, not just in cryptos alone but in all we do, is a manifestation of quick thinking. However, we've to note that being decisive doesn't mean that the decisions taken will turn out to be great. What it simply means is that one is able to tackle the situation headlong. I've taken certain decisions that seemed right by my assessment on the spur of the moment but later turned out regrettable. We only get to know if our sense of judgment is good or not on hindsight, not on the spot.

In order to have the right decision with our coins, we must have the right knowledge about it.  With that, we must also develop faith that the coins will deliver.  Personal experience may give us good lecture but I think it is much better to learn from the mistakes of others.  This way we will avoid the loss of funds.  This needs us to have a keen observation and be smart to integrate and simulate other experiences so that we can absorb the experience.  These factors can help us to be decisive whenever a certain event happens.

Also, avoid getting hyped and don't be greedy, greediness can make us miss out on the opportunity to profit from sales.  We can always buy back when the price goes down.

I agree mistake is not something to be ashamed of and at same time also not something you should be proud of. Making the right solely depends on you and although some make these mistake due to the newbie effect but most people quickly learn and take to correction when it's come to being decisive with the exact coins they would love investing in.

A lot of us probably makes a lot of mistakes when we are just a beginner or we just started trading or investing in Bitcoin and cryptocurrency, I mean it was pretty normal to make mistakes especially if you are just a beginner but just make sure to don't let that mistakes happened again, always learn from your mistakes but what is better is to learn from other peoples mistakes so that you can avoid making mistakes or bad decisions. At some point you're going to make mistakes but you could lessen than mistakes you make and avoid losing money if you already learned from other people, I mean we already have the forum and when I just first started in cryptocurrency I actually learned a lot here and members also are trying to help me, also I help them as well sharing my experiences. I would say that we are pretty lucky knowing this Bitcoin/cryptocurrency forum because it is just the best.

My advise was just to make sure that you have enough savings something like that, that you could use before even starting in cryptocurrency because this is a risky investment if you didn't have some kind of savings you just gonna end up selling your cryptocurrency at a bad timing or at a lose because you need the money for an emergency. This actually work in my experience now i just continue to accumulate Bitcoin and aiming for the next Bullrun without worrying because i can sustain my self with my other incomes.