10 main mistakes of Bitcoin newbies

[iv4n]

Newbies are very much addicted to make quick money and for the same reason they start visiting gambling sites hoping to double their coins in a single day but usually they end up loosing and this is the most common mistake I have seen so far committed by newbies.

Well gambling has nothing with bitcoin newbie mistakes, in this article its very nice explained common mistakes of some beginner and I agree with writer. 2 years ago I also thought that I can be rich with faucets, trading with crypto also was something I first time saw here, I kept my money at online wallet. But yes people think they can gamble the way trough, its not easy I know because I gamble every day, but generally some people win nice amounts with gambling, I made more bitcoins with gambling then with anything else.
Good article, I hope there will be more like this one.

[1714686776]

1714686776

[stripykitteh]

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.  

Actually bitcoin was never meant to have high fees, that just got introduced recently by Blockstream.

And that is a big turn off for me.

I don't mind paying a nice fee to miners but it is getting to be a joke now.

I am pretty sure that the transaction fee will get changed when Bitcoin goes more mainstream because people can't afford to send another person 0.0001 BTC just so the other person could get about a dollar or so. When I was using Bitcoin to send transactions with a Bitcoin client called Multibit, the transaction fee was usually set to 0.0001 even if the price went up. Now that there is a client update, the transaction fee gets really high when sending payments and there isn't any easy method to manually change it unless the code is rewritten.

[doggieTattoo]

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.  

Actually bitcoin was never meant to have high fees, that just got introduced recently by Blockstream.

And that is a big turn off for me.

I don't mind paying a nice fee to miners but it is getting to be a joke now.

I am pretty sure that the transaction fee will get changed when Bitcoin goes more mainstream because people can't afford to send another person 0.0001 BTC just so the other person could get about a dollar or so. When I was using Bitcoin to send transactions with a Bitcoin client called Multibit, the transaction fee was usually set to 0.0001 even if the price went up. Now that there is a client update, the transaction fee gets really high when sending payments and there isn't any easy method to manually change it unless the code is rewritten.

If you are using multibit wallet then you will find the same fees even at this stage and you cannot add higher fees as they don't have any option to add higher fees and in that case it may take even 2 days for the transaction to get confirm and that is really annoying.

[Theb]

Most of this newbie mistake is what I have similarly have done to be honest  . In fact most of them are about earning more Bitcoin as usual as Newbies have the wrong perception that Bitcoin is an easy money that it is a type of currency that can easily be accumulated online or through mining. Mentioning about Mining I almost have bought a rig just for it but luckily I have read an article about that I won't accumulate my profit by just a regular mining rig with graphics card.

[bncbnc]

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.  

Actually bitcoin was never meant to have high fees, that just got introduced recently by Blockstream.

And that is a big turn off for me.

I don't mind paying a nice fee to miners but it is getting to be a joke now.

I am pretty sure that the transaction fee will get changed when Bitcoin goes more mainstream because people can't afford to send another person 0.0001 BTC just so the other person could get about a dollar or so. When I was using Bitcoin to send transactions with a Bitcoin client called Multibit, the transaction fee was usually set to 0.0001 even if the price went up. Now that there is a client update, the transaction fee gets really high when sending payments and there isn't any easy method to manually change it unless the code is rewritten.

yes that is a big problem which must be solve on priority basis i think it is now creating problem for the people. i think there must have a proper mechanism for the increasing the transaction fee.

[Format.C^]

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.  

Actually bitcoin was never meant to have high fees, that just got introduced recently by Blockstream.

And that is a big turn off for me.

I don't mind paying a nice fee to miners but it is getting to be a joke now.

I am pretty sure that the transaction fee will get changed when Bitcoin goes more mainstream because people can't afford to send another person 0.0001 BTC just so the other person could get about a dollar or so. When I was using Bitcoin to send transactions with a Bitcoin client called Multibit, the transaction fee was usually set to 0.0001 even if the price went up. Now that there is a client update, the transaction fee gets really high when sending payments and there isn't any easy method to manually change it unless the code is rewritten.

yes that is a big problem which must be solve on priority basis i think. it is now creating problem for the people.

If you want to get rid of this problem then add higher fees and every thing will be fine as I don't think that its an big issue as people who are earning bitcoins are willing to wait even if it takes some time for transaction to get confirmed.

[mmo_online_1981]

The most important thing is: BTC is not as private as you think, via blockchain can determine who the sender
Thanks

[Intersan]

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

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

Wow! this is one great site for newbies it has a explanation on what not to do and what to do its certainly amazing i read it and its new to me too i learn so much things in reading the site. My rank is big but i have not enough knowledge on bitcoin and some of it i have did when i was a newbie >.< i really got shocked on reading it all and what i did really but also i learned that i haven't learned when i was here in this forum i really appreciate the site Thank you

Yeah I agree with you. Credits to the one who started this thread. I hope newbies like me will be able to read this before pursuing on our journey here. 

[Windpower]

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

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

That is actually so relatable for me. I have so many friends that were introduced to Bitcoin by me, along with others, and they always do shit like this. I have had so many people come up to me and ask, "Should I mine Bitcoin?". And they are sitting there with some crappy laptop. I will definitely recommend this website to them, thanks for sharing it with us.

[ice098]

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

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

Yes that's right. But everyone have a mistakes first before figuring out what they have been mistaken. People should learn to make things right before moving up to the next.

[MWesterweele]

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

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

Definitely , but people should learn their mistake in order for them to improve themselves. Many bitcoiners out there once been mistaken but now they are millionaire because they have learn from there mistakes.

[Blackdeath]

That article was quite helpful not only for newbies but for veterans also it educates readers the pros and cons on how a crypto-currency works.
Basically when starting on a business you need some knowledge first to avoid regrets in the future so you need to research and study the type of business your going to do and when your ready, Try it cause what's the point of all that researching if you dont have any experience.
Trial and error is completely normal when your only a beginner.

Yes if I read an article like this before maybe I do not try or take a chance on gambling. Because just like the most of people who get onto bitcoin I first try gambling using it. At first I thought that I will earn form gambling but when I started on reading on forum and doing ignature campaign that is the time I stop considering gambling and just focus on my signature campaign. Its to risky to gamble my earning instead I do trading so my earning improved and doubled.

[Aleister Crowley]

Newbies are very much addicted to make quick money and for the same reason they start visiting gambling sites hoping to double their coins in a single day but usually they end up loosing and this is the most common mistake I have seen so far committed by newbies.

Well gambling has nothing with bitcoin newbie mistakes, in this article its very nice explained common mistakes of some beginner and I agree with writer. 2 years ago I also thought that I can be rich with faucets, trading with crypto also was something I first time saw here, I kept my money at online wallet. But yes people think they can gamble the way trough, its not easy I know because I gamble every day, but generally some people win nice amounts with gambling, I made more bitcoins with gambling then with anything else.
Good article, I hope there will be more like this one.

i have an experience lke that,i first use bitcoin, and know bitcoin could give us money, I started a lot of searching for information on the internet about how to obtain bitcoin with quickly, and fnally, gambling be an option for me to try, I could get the money from gambling, and I keep repeating it, I buy something from  the it money, and one day I realized, I was often lost gsmbling and only a couple of wins, yes, I think the most common mistake made by newbie is that they are too eager to get money quickly, by selecting gambling. and possibly another mistake newbie is that they do not learn about btcoin as a whole, that they can get bitcoin in many ways, ..

[Supercrypt]

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

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

Nice reading, there are actually some good tips in there.

The one about sellling all your Bitcoin because there is now dudecoin was pretty funny and I can just see people doing that. I could never imagine another coin becoming popular so that was never a temptation for me but I can see how somebody might have an issue with that especially if they are doing trading and think the price is going to go up and are later planning to trade it back to bitcoin.

[zohaibh]

Sometimes a mature person also make mistakes not only newbie can mistake but also a mature member of bitcoin make mistake.

[CoinFoxs]

It looks great and the article is very informative not only for newbies, also for higher rank members. Some problems that you mentioned in an article is not only related to newbie like lost their private key, many high rank members are also facing these problems just because of lack of knowledge.

[Lujhtoshi]

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

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

Nice reading. This will help me to explain bitcoin better with my friends.

[TastyChillySauce00]

Sometimes a mature person also make mistakes not only newbie can mistake but also a mature member of bitcoin make mistake.

Mature doesn't mean experienced, but the newbie is clearly inexperienced. It's better to prevent those mistakes by at least reading someone's experiences instead of experiencing it directly. It'll not waste your time and efforts because you can learn without the needs of struggling first, it's a smart way to improve yourself.

Definitely , but people should learn their mistake in order for them to improve themselves. Many bitcoiners out there once been mistaken but now they are millionaire because they have learn from there mistakes.

The majority of bitcoin millionaires as far as I know are the early birds that got the right timing while investing into bitcoin and later gain a high profit, well, they're not making some mistakes and I'm afraid that we can't learn from it because this chance seems to come once forever.

[Babyrica0226]

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

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

This is was a very good tip for the newbie like me for things to do and not to do.
thanks anyway for this matter, it will be a big help for me to apply this things while
in the stage of learning here.

[onrise]

Firstly newbies always search how to get free bitcoin rather than start buying bitcoin and getting used to it. Since its practically not easily available to get free so people waste lot of time on those faucets, gambling etc and end up in a loss.