10 main mistakes of Bitcoin newbies

[d.adabit]

A pretty specific case, though very interesting.

I feel like there is one particular precaution that could be added, avoid this very common scenario:
A newbie has a paper wallet, with some amount of bitcoin on it.
The newbie wants to spend some of them, downloads and installs a desktop or mobile wallet.
The newbie broadcasts a transaction sending part of the coins, the rest are sent to a new address generated by the desktop or mobile wallet.
Believing the leftover coins are still on the paper wallet, the newbie deletes the wallet.
The leftover coins are gone forever.
This is a sad loss that could be prevented by proper education.

[bitbunnny]

Newbies are often very eager to get a lot of coins over night and get rich with Bitcoin but that is not that easy as it seems and so they often make big mistakes. So some kind of guidelines for Bitcoin beginers would be great and they can be found even on this forum and sites like you have introduced. Be wise and safe, that is also very important for the begininig.

[BitcoinPanther]

Recommended it to one of my not-so-techie friend and he finds the read a good one and was able to answer some of my questions in relation to that article. It's nice that the writer made sure that he covered some of the basic stuff, especially keeping your coins in a safe place which is really nice to look at.

I did the same too though my friend have some basic questions, but at least now he know how to secure his BTC, and how not to be trapped in buying BTC when its price surges.  He was thinking about to buy some today but after sending him the link of the article, he asked me if Bitcoin price is currently surging, I told him it was, and some dip yesterday. And told him about the ETF hype.  He then decided not to buy and wait till ETF decision is done.  I do not know if it is a wise decision but somehow I agree with him.

[avatar_kiyoshi]

That's good article. Actually such a newbie problem can be found in this forum with pretty much same topic, especially about faucet and online wallet.

This article have missed to cover about low fee newbies used to put to save cost on payments leading unconfirmed transaction for many hours. That will make them panic about bitcoin and they will start blaming bitcoin network for it and some may even opt out from the idea of using bitcoin again.  

This should be added! So much topic about that recently, they just want a free fees with fast speed

[savioroshan]

I just went through the guide. Its really a good site to recommend to newbies. One think what I have to say is it may look like faucet income is very less if you convert in dollars.But if you convert in other currencies like indonesian rupees or other asian countries  its a pretty good money.    

[LittleBitFunny]

Hi, with price soaring and newbies joining I found useful sharing this miniguide.
Hope this is appreciated

http://immutable.today/10-mistakes-bitcoin-newbies/

I visited at the given link by you , but I didn't find any better thing which should be 100% best for the newbie . Because in my opinion most of the newbie entered in the bitcoin only due to because they want make money in sudden way but hardly they understand perfectly in the starting .
So here instead to explaining about the buy/sell for the bitcoin/altcoin at particular timing of mistake , we should explain them how to understand the system.of bitcoin in better manner thoroughly so that our travel in the bitcoin job goes smoothly .
well good luck for your this topic , but keep in mind that you need small more changes for the better expiations about bitcoin for specially newbie .

Actually as someone who started with Bitcoin ~1 month ago, I can say that I made most of the mistakes mentioned in this article - signing up for an online wallet, buy after news, try to buy with credit (debit in my case) card repeatedly, considered mining (but to be fair I didn't end up trying), trading cryptocurrencies without having any experience or understanding, spending hours and hours on faucets.  

Pretty much every annoying mistake in the book that someone who's not an idiot could make.

If people are stupid they're pretty likely to give up, and sometimes (not always) that applies to people who are just trying to make money and don't have an understanding of the economy.

I do agree that it should cover fees though, because some of my transactions have taken a damn long time without me having understood why.

[romero121]

I just went through the guide. Its really a good site to recommend to newbies. One think what I have to say is it may look like faucet income is very less if you convert in dollars.But if you convert in other currencies like indonesian rupees or other asian countries  its a pretty good money.    

That's not a big issue, because faucets were the only trusted earning that newbies make compared to other forms of earning. Initially while starting with bitcoin their expectations wee very high. This cannot be fulfilled in a short, so the same when started with faucets they grew in a better way understanding the difficulties and acts accordingly.

[uneng]

I just went through the guide. Its really a good site to recommend to newbies. One think what I have to say is it may look like faucet income is very less if you convert in dollars.But if you convert in other currencies like indonesian rupees or other asian countries  its a pretty good money.    

That's not a big issue, because faucets were the only trusted earning that newbies make compared to other forms of earning. Initially while starting with bitcoin their expectations wee very high. This cannot be fulfilled in a short, so the same when started with faucets they grew in a better way understanding the difficulties and acts accordingly.

It's true, when we are newbies we see so many satoshis as reward, hundreds, thousands and the newbie thinks he will make a big profit for sure. And start searching for more faucets, but it's not possible to make much profit with that.
The article is nice, interesting points listed there, I don't know if OP is the author, if so, congratulations. Newbies are newbies everywhere, it's a stage of learning.

[nyanhtet]

Can't load your site.

[Rahar02]

Hi, with price soaring and newbies joining I found useful sharing this miniguide.
Hope this is appreciated

http://immutable.today/10-mistakes-bitcoin-newbies/

find good to read about it but still there are some better thing should be added like earning ways of bitcoin in every legit style and also some precautions to start your opeenning in the bitcoin work as an newbie .

The article  pointed out mistakes not some ways to earn bitcoin and I think it explains so well for us.
There are a lot of precautions to prevent many things that are not desirable for newbies.
Luckily, I've never do such mistakes as a newbie in bitcoin world, learn come first before any decision.

[Yakamoto]

It's not a bad list, but I definitely think that there's not a ton of substance to this list if you're someone who takes a few minutes to research exactly what it is they're getting into before diving head-first into it.

I can see this being of use to some people though, so it might be worth spreading around as someone is bound to learn something from it.

[cpfreeplz]

IMO the biggest 2 mistakes are sending transactions with low fees and not reading enough before using bitcoins. The more you read beforehand the less issues you have when you start to use bitcoins.

[CyberKuro]

Hi, with price soaring and newbies joining I found useful sharing this miniguide.
Hope this is appreciated

http://immutable.today/10-mistakes-bitcoin-newbies/

I visited at the given link by you , but I didn't find any better thing which should be 100% best for the newbie . Because in my opinion most of the newbie entered in the bitcoin only due to because they want make money in sudden way but hardly they understand perfectly in the starting .
So here instead to explaining about the buy/sell for the bitcoin/altcoin at particular timing of mistake , we should explain them how to understand the system.of bitcoin in better manner thoroughly so that our travel in the bitcoin job goes smoothly .
well good luck for your this topic , but keep in mind that you need small more changes for the better expiations about bitcoin for specially newbie .

Well, it just miniguide that mentioned the big picture to avoid some mistakes, not all of it and explain every detail to start using bitcoin, buy/sell and the system of bitcoin which already explained many times by others. Newbies just have to search and read about it, depend on their interests. However, I like this topic and enjoyed read all of it.

[Raja_MBZ]

Nice tips for newbies, and even pros sometimes forget those tips.

This article have missed to cover about low fee newbies used to put to save cost on payments leading unconfirmed transaction for many hours. That will make them panic about bitcoin and they will start blaming bitcoin network for it and some may even opt out from the idea of using bitcoin again. 

That's a must for the newbie tips. I remember I even sent someone some bitcoins with almost no fee back in 2013 and it never confirmed.

[odolvlobo]

It seems that today only two categories can mine: large server farms in China and makers that mine with a loss just for fun but not for profit.

A popular myth, yet incorrect. The truth is that if you access to cheap electricity, you can mine profitably with a single ASIC miner.

[7788bitcoin]

Another mistake of newbies is that many of them think bitcoin will make them rich tomorrow.... but realized the roller coaster is hard to accept.

[Babayega31]

Most of the newbies in bitcoin got scammed in mining sites and they failed with their investments. Some newbies joining signature campaigns were banned because they are spamming in the forum and their posts was mostly non constructive, they always fails in following the rules of the campaign. All those mistakes will make them learn based on their worst experiences, which could make them more mature in bitcoin earning and investing.

[n0ne]

It seems that today only two categories can mine: large server farms in China and makers that mine with a loss just for fun but not for profit.

A popular myth, yet incorrect. The truth is that if you access to cheap electricity, you can mine profitably with a single ASIC miner.

Cheap electricity along with mining equipment is a must. To get a single ASIC that gives a good earning requires at least $1500 for purchase. A newbie who can afford could try mining and profit depends upon the electricity consumption charges.

[bustedsynx]

Almost anyone can fly an airplane – or sell and buy. We weren’t born with the skills to do either one, however.

[carlisle1]

Rich Soon with Bitcoin Faucets lol . I also thought that I could earn bigger and will get rich by using faucets when I was a newbie but then realized that I am just spending my time to earn a few cents every hour . although it was a waste of time but still faucets helps me to learn and explore a lot of things and it pushed me to look for more better ways to earn

anyway, the article is just stating all the mistakes that newbies had been committed and I don't see any guide while reading the entire article . but still thanks for sharing a nice lists