Agreed, but I don't think all these people are doing it willingly. I'm sure whales dump when they see fit. Others sell when they are in a financial crisis. The smart ones will see this as an opportunity to buy and get rich. It's all just a cycle. I guess this means the rich keeps getting richer.

They will learn when they fall for these scams and lose their money. They will either quit it all together or be stronger and make sure they don't make the same mistakes all over again. There seems to be a lot of scam projects so it's also hard to be aware of all them. Being a newbie doesn't help especially when you don't have friends who are well experienced in these kinds of stuff already.

Binance is a popular one. It's a lot more secure and it is a large exchange. It's got just about all the coins. But it also comes with a price. Because it is a larger exchange it has a higher transaction fee. I personally would look for smaller exchange like Crex24, Bitkonan if I'm dealing with altcoins that are either shitcoins or moon. Lower fee and a chance to win the lottery.

I like smaller exchanges for newer and smaller altcoins. The more exchanges the better it is for me as I can spread out my coins into different accounts. More of a security thing and anything else for me. But of course I could just get hardware wallet but I choose not to. It's up to you. I would do some research on the exchange first before indulging into it right away.

The amount depends on the coin. Personally I wouldn't spend a lot if the development team is invisible. I would check whether the coin is good or not by looking at their website, discord, whitepaper, etc.... The amount also would depend on your financial state. If you are well off then you can afford to lose more but still choose wisely. If you are one of the less fortunate then I wouldn't spend as much unless I'm well aware of the coins state and it's future.

It mostly depends on the coin. I will either hodl till it I deem it's worth selling or sell and buy other altcoins. Or simply hold BTC instead. But I usually trade/invest with my altcoins. Altcoins have a better chance of returning you with profit if you hodl it. If you invested in good coins, the price will usually go several fold up. So holding is better.

You've gotta suck up your emotions in the business world. You don't get rich by crying and sobbing. You get rich by working really hard. But if you are stressed then do something to relief stress. Don't just sit on a couch and make yourself feel bad by thinking about all the mistakes you've made. Personally for me, I workout to get rid of stress. You need to have a clear mind to make better decisions which will get you better results and better results mean better emotional condition.

I believe you will earn more from lower ROI coins than the higher ones. You should try it. Just don't spend more than you can afford to lose. I would personally play around with it until I understand how it works. Check out masternodes. Altcoins have more risks so don't go all out on them unless you have reliable source but even then don't trust it. Too many coins are just hyped. As others have already suggested, do your research. Find the coin on Bitcointalk. Check their website. Check their discord server if they have one. And make sure you know who the development team behind it is. There is less risk when you know the dev team. But don't take my word for it.

It's not late but if you keep on waiting it might be. A lot of people dumped their BTC like a couple months ago. If they had kept a strong grip for just a couple more months they could have earned quite a bit. Don't follow the crowd. Don't be the panic seller. I'm sure people where asking this same exact question like 3 years ago. Now look where we are.

Not enough patience  . The prices are higher than 4k now. If only they waited a couple more months they could have made a decent amount of money. And I, along with a lot of people suspect BTC prices are going to keep going up, at least until January or February. These people just want the money right now and right then. Unfortunately it doesn't work like that.

I can sort of relate. I'm not in danger of losing my job but on the fact that doing crypto business and simply learning about it takes up a lot of my time. I occasionally take some time to like learn about crypto while I'm working. It doesn't feel right and it shouldn't. For now, I'm just looking at it as investment. I'm spending time now so I won't regret it later.  I'm hoping that all of this will be useful in the next decade or so.

If you are rich to begin with, being richer is a lot easier. Having money allows you to be rich by investing your money and quadrupling it. Kinda similar to The Three Servants parable. The one who had been given more was able to double his money while the poor just sat and did nothing. Bitcoin has given the poor an opportunity to earn money but it's not as easy when you have a good head-start (money in this case). You can make the most out of bitcoin when you are able to invest in it. So I would say it redistributes more wealth towards the rich than the rest.

This still applies. Invest and hold now before the prices go up. And always don't invest more than you can lose. Being patient is the key here. You just gotta keep your hopes up that the prices will go up. Don't panic sell you are going to regret that later when you see your friends balling  .

They are just comparing it the highest price of bitcoin. They feel betrayed that it went down by like 15k. They cry about it but it's still doing better than before. And right now it's rising again. If they had bought it when it went down really low, they could have made some decent money out of it. I don't necessarily blame them, but these people should know how volatile the market is. The market fluctuates so much that it's super risky.

We benefit from it. To what degree that's a different question. Paying taxes guarantees us services in return. Rights to vote, education, health care and other things. In third world countries this isn't as visible as say USA.
Also, a lot of people feel like they have to pay tax because they are a citizen. It makes them feel safe like the government will be for them instead of against them.