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Wow, this is so heartwarming. I can feel how grateful you are and I think I can relate. I believe the people you mentioned above have a good heart because they want us to grow with them and contribute better in this forum. You must be one of that lucky guy who can make a great relationship with people around you that's why people also give good feedback to you. I also have to say my gratitude to CryptopreneurBrainboss for my first merit. He possibly doesn't know how happy I am and it surely motivates me to contribute better to this forum. Let's always do our best and thank you for this thread.
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Please allow me to withdraw some conclusions from your experience and kindly correct me if I'm wrong
1. Before jumping to a decision, it's an obligation for us to do our own research and gather pieces of knowledge about what's we're doing. If we know what is in our front, we can take a sane decision and we can take responsibility for it. From your example, if you know how's BTC working, the nature, the fundamentals, etc you can make a better decision based on your knowledge whether HODL or selling BTC and move to Alt or permanently leave
2. Know when to stop rather than HODL-ing blindly, especially when you invest in Altcoin. Always observe the news, anything that happened with your investment, the growth, and events related to the projects because it can affect the price. The altcoin has more challenges, so prepare your heart and mind.
3. The last conclusion is probably never to invest money that you can't afford to lose. Thank you for sharing and I hope we all can learn from these and you got repaid better.
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Where is the place you refer to?. As far as I know, Bitcointalk already prohibits those giveaways and whoever held it or even join it, will get a ban. I personally experienced it lol and learn from my mistake, I won't ever join that kind of giveaways anymore where you don't do any efforts to gain and just writings your credentials below the thread.
I can't talk about other places, it's probably right if you see it on social media, but I believe there's only a small portion of them are legit, the rest won't give anything. People will learn eventually that it's useless. It's not easy to get money from the crypto world and people should know it.
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I knew about bitcoin from youtube back in 2017. It was interesting because of the new technology and how it grows rapidly from the first time it was found. I was totally mesmerized by the videos I watched and then I start to learn more about bitcoin from articles I googled. From there, I started to know about other cryptocurrencies and how they could change the world. I get some information on how to earn for free from the crypto world. I know faucets, airdrop, and bounty, and of course, Raiblocks (NANO) that then changed my life 180 degrees. I have never used my own money from my pocket, but I used money from rewards instead, I learn to trade from there and start to invest. Since then, I never invest in the old, popular, and stable projects like bitcoin or ethereum but the newborn projects instead.
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Oh God, I can feel how you feeling because I just experienced it yesterday. It was an awesome feeling lol. All this time I usually attended threads on the Alternate Cryptocurrencies only, then yesterday I start to decide to level up my game and try to be more active on other threads too.
Apparently, I think I found a way slowly to gain merits. if I may to give one tip I can give to beginners or people like me, is to discuss on Beginners & Help threads. If we can give a good contribution by answering people needs help or offering great opinion probably people will see our efforts and give us merits. Try to find a thread with low responses and answer it your best, so higher rank people who usually give merits can see it and if they like it, they can give you merits. I'm grateful for the merits and also motivated to contribute better. I can't wait to learn more and be more confident to start to make a useful thread.
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Really a great insight author, thank you and if I may add, there are some other fallacies in trading that people sometimes do, such as :
1. Just doing HODL blindly without don't know when to cut their loss. This statement "You won't lose money if you do not sell" or "you won't lose anything unless you sell" probably would be suitable for those who invest in old and more stable projects like bitcoin for example, but I believe we need to consider more thing when we invest in the newborn project. What if the project fails? what if they scam us? and many other negative what-ifs. Apparently, we need to be brave to say stop whenever it is needed. Anyway, been there done that. I lost money when I don't know how to say stop, the project was given up and all I can do was to let it go and learn from my mistake.
2. The second fallacy is to trust 100% of other people's financial advice whether it's experts or close people around us. Always Do Your Own Research (DYOR)! always. Sometimes we think that other's opinion is the best and when it's not happening, we're angry. This is silly because it has to be our own responsibility, not theirs.
I hope this could be useful additional Infos for all of us. Thank you.
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I think we can't call a name and state that they're a scam without providing strong proof here or even if you have it, then better open an accusation thread for them. Regarding your concern, I think rank itself does not represent merely qualification and quality unless they got it purely from working hard, being active in the forum, learning for a long time, or anything that could increase their quality. We can't close our eyes that people who buy high accounts exist. Besides, a couple of years ago, in my opinion, gaining higher ranks was easier than now with the merits method. There's a chance that these people blindly joining the campaign without care about the project itself and their reputation. As a community member who cares about this forum, of course, we can do what we can do along with the rules such as I mentioned in the beginning, make an accusation thread for scam projects or giving negative trust.
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First of all, I'm sorry for the things you faced before and I hope all got repaid better. Regarding your thread title, I wish I knew that I can't just HODL-ing my assets and give 100% percent of my trust to the developers although they seem working hard for the project. I've lost my thousand dollars back then in 2018 when a project called Rebellious (REBL) decided to change its development direction and then gave up eventually. I should read the signs and should have the bravery to say stop when it's necessary. Well, I can only regret it but at least I have a lesson for my current and future investment.
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I think as a beginner, people can always google their concerns or research the theme in the bitcointalk thread first because I believe they need to know about the terms used in the crypto world, to begin with. It's always better to do our research first than asking directly because asking the same basic thing over and over will be annoying for some people and probably they won't help those. In fact, that would be spamming the forum too. When you have basic knowledge or information, then you can go forward to discussing with people here and when there's a question that's probably there's no answer yet here then you can ask it. That's my humble opinion, which is to be independent first rather than asking without checking.
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First of all, I do agree that this forum is a very important media and a big help for us the cryptocurrency community to learn further about all things related to the crypto world in a more fun way. We're not only reading the threads but also interact with the experts, and people who are more experienced in this field. However, for me, it's possible to do both learning and earning simultaneously. We can do earning while learning or vice versa, we can learning while doing activities in earning. I think it would be more efficient. But I agree if the motivation only for earning, you can face difficulty here so don't forget to learn also.
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If I'm not mistaken, there are a couple of alternative ways to access your myetherwallet. The first option, you can access it by using Keystore/JSON File. A Keystore file is basically an encrypted version of your private key. You'll download it the first time you made a wallet on MEW. The second option is the Mnemonic phrase which is those specific, separated, and organized words that you can use to access your wallet. The third option is the private key which is consists of 64 randomized characters. Did you make your MEW on a PC or mobile phone?. If on PC, then there is still a chance that you saved Keystore/JSON unintentionally. So, you can try to check this one by doing a full search on your PC for the "UTC" file and probably the file will show up. Please try to remember whether you keep your phrase or private key somewhere else. I hope there are still things you can do to access your wallet soon.
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I think bitcoin is still struggling to break out and form a bull run. However, I can see the recovery that you've said because every day even the price is still up and down, the market curve is getting healthier. I can see there's no drastic price changing and we're all still waiting on how bitcoin moves, whether go to the moon or fall to the earth's core. In a time like this, I think it would be wise to just wait and observe. You ought to buy when it's red, and sell when it's green. But in this critical time, for me personally, I'll wait and sell at the top and re-buy when it drops to the core so no buying for now.
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Thefts and scammers nowadays are upgrading their ways. They're not only trying to hack our private keys directly, but also deceive us by putting some traps. One example, those criminals even showing up their rotten seed phrase or private key to try to manipulate us. They pretend to have an issue with their wallet that they can't access, pretending to have some thousand bucks in it and offering their seed phrase so people would help them. Apparently, it's their effort to scam people. Seems like they attract people to access that wallet then probably when the process happened, there's an effort to access the helpers' wallet, and BOOM! their assets will be gone. I hope we all here can protect ourselves and be safe.
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