MOST COMMON MISTAKES OF A NEWBIE

[stomachgrowls]

i find it hard to understand most of the terms in alt coins. most abbreviations are not found in the newbie help.

[poptok1]

What about cloud mining?
I just see some contract on OXBTC and the price is good.
What you guys think?
Could anyone give some advice?

One of the fundamental mistakes right there.
Remember m8 always treat those cloud mining websites as potential scam.

This oxbtc is one of them. To good to be true offer should awake suspiciousness.

badbitcoin.org:
"Oxbtc.com That's Boll-ox btc.
They offer the highest ROI, because they don't have to pay it.
It's just another fake mining scam. 2/6/16"

[jamesl22]

A common mistake is using faucets and thinking you will actually get rich from them which is highly unlikely.

People like that is free as there is no investment needed in faucets, but the fact is as they are new they are not aware how to start off in productive way.

yup i was on it previously and for  a couple of months been playing games and viewing those commercials still got les than 50 cents in my wallet.  anyway that was fun for a start.

Its always good to learn new things and also learn from the mistakes, now you are aware that faucet will waste your time and returns would be too less, your electricity cost would be higher then what you earned from faucets.

[KarlY7]

What about cloud mining?
I just see some contract on OXBTC and the price is good.
What you guys think?
Could anyone give some advice?

One of the fundamental mistakes right there.
Remember m8 always treat those cloud mining websites as potential scam.

This oxbtc is one of them. To good to be true offer should awake suspiciousness.

badbitcoin.org:
"Oxbtc.com That's Boll-ox btc.
They offer the highest ROI, because they don't have to pay it.
It's just another fake mining scam. 2/6/16"

Thanks for your reply! that's really helpful!
Though i don't have mining there, but i still have some current deposits there, and it does have incomes. should i still leave my btc there?
Also i find they have $100 coupons for user now, should i buy some(little amount) to try it?

[amzee75]

Ahoy there 
Im a beginner with electronic currencies and started using Yobit few days ago
I would like to know what types of common mistakes newbies make and what to avoid in early days

Regards

buy local coin where many pumper and dumper.newbie also buy these coin for making profit and also lose you r money so first you see the full background thats coin see its development also check its capital,roadmap,its supply so check all about this and completed studied it before buying any coin. 

[jossiel]

i find it hard to understand most of the terms in alt coins. most abbreviations are not found in the newbie help.

You don't have need to study the terms in alt coins what most important is you know how to use that alt coins and you know how to trade it. Don't really need to study that abbreviations.

[BitcoinSupremo]

Newbies mistake which I have seen are common in this forum are :

1. Newbies asking for loans of big amounts without offering proper collateral (This gives them an immediate Red Trust)
2. Newbies think of using faucetbox and clicking faucets will make them some BTC (Wrong, as they will lose a lot of time for just a few pennies)
3. Newbies being lured from some scammers to join under them in ponzi cloud mining (Wrong as newbies will never get their investment back, while they will give a power boost to the scammer to make ROI)

Pretty much these are the most basic mistakes I have seen here, but this list is far from complete.

[Dekker3D]

Newbies mistake which I have seen are common in this forum are :

1. Newbies asking for loans of big amounts without offering proper collateral (This gives them an immediate Red Trust)
2. Newbies think of using faucetbox and clicking faucets will make them some BTC (Wrong, as they will lose a lot of time for just a few pennies)
3. Newbies being lured from some scammers to join under them in ponzi cloud mining (Wrong as newbies will never get their investment back, while they will give a power boost to the scammer to make ROI)

Pretty much these are the most basic mistakes I have seen here, but this list is far from complete.

Or some generous newbies providing money for loans without collateral and they end up being scammed most of the times.

[jossiel]

Newbies mistake which I have seen are common in this forum are :

1. Newbies asking for loans of big amounts without offering proper collateral (This gives them an immediate Red Trust)
2. Newbies think of using faucetbox and clicking faucets will make them some BTC (Wrong, as they will lose a lot of time for just a few pennies)
3. Newbies being lured from some scammers to join under them in ponzi cloud mining (Wrong as newbies will never get their investment back, while they will give a power boost to the scammer to make ROI)

Pretty much these are the most basic mistakes I have seen here, but this list is far from complete.

I definitely agree with number # 2 I thought also that using faucetbox and clicking faucets will make me more money. And I thought faucetbox is already the bitcoin wallet.

[KarlY7]

Newbies mistake which I have seen are common in this forum are :

1. Newbies asking for loans of big amounts without offering proper collateral (This gives them an immediate Red Trust)
2. Newbies think of using faucetbox and clicking faucets will make them some BTC (Wrong, as they will lose a lot of time for just a few pennies)
3. Newbies being lured from some scammers to join under them in ponzi cloud mining (Wrong as newbies will never get their investment back, while they will give a power boost to the scammer to make ROI)

Pretty much these are the most basic mistakes I have seen here, but this list is far from complete.

so you mean cloud mining is scam?

[Cyaren]

I invested quite some coin in a ponzi scam. I believe lots of newbies out there have done that when they first started, too.

Remember that all doublers, triplers or HYIPS are ponzi schemes. They will fail eventually. A newbie should definitely know this before they start investing.

[delliaerd]

I invested quite some coin in a ponzi scam. I believe lots of newbies out there have done that when they first started, too.

Remember that all doublers, triplers or HYIPS are ponzi schemes. They will fail eventually. A newbie should definitely know this before they start investing.

Before we decide to invest our bitcoin into any company, we must know yhat company proof to pay or not scam.
But it is no problem if it is happen when we still newbie, because that experience can be the teacher for us to don't repeat that mistake again.

[safari88]

I invested quite some coin in a ponzi scam. I believe lots of newbies out there have done that when they first started, too.

Remember that all doublers, triplers or HYIPS are ponzi schemes. They will fail eventually. A newbie should definitely know this before they start investing.

Before we decide to invest our bitcoin into any company, we must know yhat company proof to pay or not scam.
But it is no problem if it is happen when we still newbie, because that experience can be the teacher for us to don't repeat that mistake again.

honest when I newbie, I do invest in HYIP, because I am attracted with high result in a short time.
My friend had already been invested, and he showed proof of payment, so I'll make a decision. but unfortunately. when I invest, the site became a scammer

[eddyubachs]

I invested quite some coin in a ponzi scam. I believe lots of newbies out there have done that when they first started, too.

Remember that all doublers, triplers or HYIPS are ponzi schemes. They will fail eventually. A newbie should definitely know this before they start investing.

Before we decide to invest our bitcoin into any company, we must know yhat company proof to pay or not scam.
But it is no problem if it is happen when we still newbie, because that experience can be the teacher for us to don't repeat that mistake again.

honest when I newbie, I do invest in HYIP, because I am attracted with high result in a short time.
My friend had already been invested, and he showed proof of payment, so I'll make a decision. but unfortunately. when I invest, the site became a scammer

I think that is the mistake we all did in the past, I also invested my coins in doubler who promised me to double my coins in 3 days, and I am still waiting 

[menace.bit]

I'm a newbie in the forum/community. What do you guys think of all these ICO's going on. There's lots of them the past weeks. Saw some active ones: Waves, TheDAO, Rise, Mycelium. Is it a good idea to invest in these?

[rphk]

common mistakes for newbies are they  get lured to hyips , dont waste time in hyips which are ponzi and scam , dont invest in gambling, try to find legit sites like mini jobs , task etc.

[ArafaA]

common mistake as newbie for me is loosing a lot of bitcoin in trading & gambling
don't repeat it

[finishedgrey]

common mistake as newbie for me is loosing a lot of bitcoin in trading & gambling
don't repeat it

Better for them not to involve into gambling it's just a waste of money.

[noormcs5]

• Always use escrow on the forum, preferably multisig
• Never mix Crypto and reversable payment methods like Paypal
• If it seems like too good a deal, it's probably stolen/carded/hacked
• Don't keep large amounts on an exchange
• Don't use a online wallet like Blockchain.info.  For smaller amounts use a local wallet like Electrum, cold storage for larger ones
• Accounts can be freely traded on here, be careful who you trust
• Always verify who you're trading with using a message on here.  Never send right over Skype/IRC

Your explanation are really helpful, you know i really want to know what's the mistakes on us, which we should avoid it.
Because when i was newbie and i was in yobit and one day my account was blocked so i was surprised because i really didn't know what i have done mistake.

[menace.bit]

• Always use escrow on the forum, preferably multisig
• Never mix Crypto and reversable payment methods like Paypal
• If it seems like too good a deal, it's probably stolen/carded/hacked
• Don't keep large amounts on an exchange
• Don't use a online wallet like Blockchain.info.  For smaller amounts use a local wallet like Electrum, cold storage for larger ones
• Accounts can be freely traded on here, be careful who you trust
• Always verify who you're trading with using a message on here.  Never send right over Skype/IRC

Your explanation are really helpful, you know i really want to know what's the mistakes on us, which we should avoid it.
Because when i was newbie and i was in yobit and one day my account was blocked so i was surprised because i really didn't know what i have done mistake.

That's some good advice cooldgamer, will be taking note of it.