10 main mistakes of Bitcoin newbies

[jzale]

How to secure your address and other accounts should be added here. Security is one of the main problem that I've encountered as a newbie. Last month I've lost a handful of coins when my wallet was breached/hacked because lack of security and knowledge. Second thing is how to detect/know if a website you're entering is not a scam/phising site. I've been also a victim of phising sites so always be careful on opening links everywhere.

[Senja Kemuning]

nice article, did all that when i started using and investing bitcoin.

Yes true, investing bitcoin is very profitable and we had hope for success by purchasing the bitcoin, I think it's not too late to keep getting profit from bitcoin as prices will continue to rise.

[aeternus]

Probably the biggest mistake that newbies make is that they think they can get rich with bitcoin quickly and the problem with that is they risk to get scammed by people that will lure them to think that it is easy to get riches with bitcoin.

[jennywhzz]

Probably the biggest mistake that newbies make is that they think they can get rich with bitcoin quickly and the problem with that is they risk to get scammed by people that will lure them to think that it is easy to get riches with bitcoin.

There is no shortcut of getting Rich, not even with bitcoins. Newbie should realize that although there are lots of methods to earn bitcoins but they demand hard work and none of them  will  make them rich without any efforts.

[stompix]

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 and well thought out piece of writing.
Some of the mistakes you mentioned are not limited to bitcoin newbies but even pro make these mistakes like Trading any random Altcoin or buying at sudden price rise.
Anyway I appreciate your efforts in putting this up and hope nobody make these mistakes

Altcoins themselves are a mistake.

But the first one is no longer a mistake it's more like a trend.
I doubt there are more than 10% on this forum that hold their coins in their own wallets.
I read a thread where for two pages everybody was using  blockchian,coinbase xapo and so on

[Kronos21]

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. 

Beginners are always enough coins and therefore any savings is substantial. It's worth it to wait a few hours or even days. To pay a single transaction some of them have 1-2 days to click on the different taps.

[orions.belt19]

How to secure your address and other accounts should be added here. Security is one of the main problem that I've encountered as a newbie. Last month I've lost a handful of coins when my wallet was breached/hacked because lack of security and knowledge. Second thing is how to detect/know if a website you're entering is not a scam/phising site. I've been also a victim of phising sites so always be careful on opening links everywhere.

Thanks for this because I have never thought of securing my address! The article is was really insightful as well. I learned most of what I know about Bitcoin from various sources and this article had the basics. I wish I read this before I started on Bitcoin, but at least now I know. I hope to be wiser on my Bitcoin choices and investments.

[Taki]

Bitcoin's popularity is growing just like crazy and nobody understand what is it and how it works, people just want fast profit, but the chance to buy cheap today and become reach in 3-5 years is gone, bitcoin costs a lot today, but this fact doesn't stop people to invest in whatever. All this ICOs are making their profit on people's greediness. I think that is the main mistake of a newbie. There is no way to become rich fast on crypto-currencies. I recommend to all newbies to read and read and one more read before to make any decidion about investment.

[asyakashi]

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

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

All will benefit by reading this article. If allowed I want to translate into another language. Many people want to know this, and deserve to be learned.
thank you

[wxa7115]

Some newbie just don't know what to do for the first time because of some don't have a full knowledge on bitcoin, but we all are the same, we also start as a newbie so I think we all do all this 10 mistakes that the author describe on his blog.

Not necessarily, with each new generation of bitcoin users, these new users can avoid some of the mistakes many of their predecessors made since now there is a lot more material to read to avoid making mistakes like that, case in point the list of the 10 mistakes newbies make, now you can avoid them if you are smart.

[JL421]

Not only this there are many more mistakes they make by expecting too much from bitcoin in short time and selling at loss during panic moments and the most important ones is not applying appropriate fees while sending which takes days for a transactions to confirm

[neon_colors01]

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.

Wow thanks!!!
I didnt realize that until now.
Glad I read this and I glad I didnt try ..

Well it make sense but I never thought of it?
Im still a newbie.

This info greatly helps!

[panganib999]

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 site will be a great help for the newbies especially those who are really interested on investing in bitcoin but doesn't know yet how to possibly start and this must be spread to orient not just the newbies but also the other people to let them be oriented about bitcoin. It is nice that someone or everyone at least have a concern on helping those people who really want to know more about bitcoin by providing this site for a miniguide.

[decoder88]

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's a good one...  But this is not only for newbie as you told so,  the other rank like higher rank also made some same mistakes..  Eventhough they are having much longer time for this,  they also make a mistakes..  But now that you have this guide,  t
Many newbie and other rank prevent some mistakes that are indicated in this...  Thank you for that info..

[swiftbits]

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's a good one...  But this is not only for newbie as you told so,  the other rank like higher rank also made some same mistakes..  Eventhough they are having much longer time for this,  they also make a mistakes..  But now that you have this guide,  t
Many newbie and other rank prevent some mistakes that are indicated in this...  Thank you for that info..

The article is not about "bitcointalk" newbies, it's all about people who are new to bitcoin
If you didn't know much about bitcoin and how it works then you can consider as newbie

Thank OP for the article, very helpful and informative.

[ecnalubma]

Also include investing on shit bitcoin doublers, mining promising 1000% profit, ponzi, fake wallets, gambling etc. These things are hyping me before, also when claiming in bitcoin faucets i feel so rich haha 😂. But those days teach me how to become more stable now and every decisions I make always think twice.

Bitcoin teach me a lot of lessons, on how to give importance on what I owned financially. Also teach me how not to trust anyone.

[LuanX3]

Also include investing on shit bitcoin doublers, mining promising 1000% profit, ponzi, fake wallets, gambling etc. These things are hyping me before, also when claiming in bitcoin faucets i feel so rich haha 😂. But those days teach me how to become more stable now and every decisions I make always think twice.

Bitcoin teach me a lot of lessons, on how to give importance on what I owned financially. Also teach me how not to trust anyone.

I also invested on those, thinking they were legit and spent about $100 on them. Good thing I learned my lesson quick and did not invest too much. I got it back when I invested in one of them that had an affiliate program that I registered my self as the affiliate. I probably profited a few bucks from that though I lost on the next one. Good times...

[maxNIMFA]

Right now it's easy to understand the basics in a short period of time. But with the years the whole cryptocurrency ecosystem would become more complex.
And maybe in 2030 it would be as hard to understand it as it is now to understand for 80-90-old gents and ladies the principles of the web.

[Invigiator]

Right now it's easy to understand the basics in a short period of time. But with the years the whole cryptocurrency ecosystem would become more complex.
And maybe in 2030 it would be as hard to understand it as it is now to understand for 80-90-old gents and ladies the principles of the web.

I bet nobody who replied to this thread can describe smart contracts as if it was a programming language.

[swiftbits]

Also include investing on shit bitcoin doublers, mining promising 1000% profit, ponzi, fake wallets, gambling etc. These things are hyping me before, also when claiming in bitcoin faucets i feel so rich haha 😂. But those days teach me how to become more stable now and every decisions I make always think twice.

Bitcoin teach me a lot of lessons, on how to give importance on what I owned financially. Also teach me how not to trust anyone.

I've been there... I remember claiming on faucet for more than 4hours.
I also lose some money in doubler and hyip, well I get some profit too but it's not enough
I'm very thankful for the experience being a newbie, just like the saying "Experience is a great Teacher"