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Author Topic: How are we going to handle all the XCoiners?  (Read 104 times)
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February 09, 2018, 03:19:21 PM
Merited by alyssa85 (1)
 #1

So I picked up a new word today, XCoiner {A person who invested in Crypto currencies before and got burned}

We have a lot of people who invested in Bitcoin and then something went wrong. They might have invested in the wrong

coins or they might have invested in Bitcoin, but they panicked too quickly and lost some money. You even have those

XCoiners, who lost some coins in scams or exchanges that got hacked.

Most people might say that those people are not our problem, but these people are doing a lot of harm, hiding behind sock

puppet accounts. One XCoiner, sharing their negative story with a 100 people, can do a lot of harm in the long run.

We cannot stop these people from acting out against the technology, but we can try to avoid these situations.

~ If you know something is a scam, please report it.

~ If you have information on people hacking Bitcoin services, please report it.

~ Do  not encourage people to use debt to fund Bitcoin investments. {It always ends bad}

~ Educate the Newbies {Good advice during a small crash, will reduce panic sales}

~ Identify the Scam coins early. {Pump n Dump coins & ShitCoins}

We should not repair the damage after it was done, we should prevent the damage from being done in the first place.  Wink

 
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February 09, 2018, 03:25:35 PM
 #2

XCoiners got a good sound on it.  Grin Sounds like X-Men.  Grin

All you said was true. This should not be ignored. It can create a lot of chaos in the long run.
The others are suicidal but this people is like in the Anger Management field.
They could do anything just so they could bring down every crypto specially where they were broken.
When this people produces a name that will be known then it will be an impact again.

Before this goes uncontrolled we should also make a move into making newbies have knowledge about the truth.

Sadly this people cannot swallow what they risked.

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February 09, 2018, 03:31:04 PM
 #3

It's tough but a lot of them are going to learn the hard way. Just look at how many scam coins are out there: Bitconnect, ripple, premine dash shitcoin, monero gold, litecoin gold, etc.  the monero gold scammer made over 1 million dollars in one day.
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February 09, 2018, 03:33:02 PM
 #4

i feel like the more they spread the negativity, the more they spread the FUD and the wider they spread it so that a larger number of people hear it, the more resilient people are going to become to all this negative bullshit.

at some point it will be like the boy who cried wolf kind of situation. you can only call the death of bitcoin so many times before people catch on and ignore you.

so i say let them spread it more and more because we can't really stop them. and lets see who is the winner in a couple of years. those who believed the FUDsters or those who laughed at them?

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February 09, 2018, 03:36:26 PM
 #5

I agree with OP and we should try to help the Xcoiner. They are probably attracted by Bitcoin due to the price increase and hoping to make some money by investing. Once Bitcoin dip, they started to panic and spread negative stuffs.

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February 09, 2018, 03:37:03 PM
 #6

Sadly this people cannot swallow what they risked.

This is also true. People do not own up to their mistakes. They will rather blame someone else for their mistakes, than

allowing people to know that they made the bad decisions. A typical example of this was a friend of mine that invested

money into a Bitcoin Ponzi scheme. When it collapsed, he blamed Bitcoin. I told him weeks in advance that it was a Ponzi

scheme, but he did not listen. {I highlighted ALL the indicators of a typical Ponzi scheme}

He is walking around and warning everyone not to invest in Bitcoin, because it is a scam. The fact is, he did not buy Bitcoins!

There is no medicine for stupidity & greed. I even told him how to reduce the risk, when you knowingly invest in that

garbage, but he ignored that to and went ALL in.  Angry Angry Angry Angry

 
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February 09, 2018, 03:40:32 PM
 #7

I think the problem is that noobs are no longer getting their information from bitcointalk or reddit (where there are plenty of old hands to offer advice).

They are getting advice from twitter and youtube. Both twitter and youtube are echo chambers. Unlike on here where you often find opposing views on the same thread, on there you get groupies and followers who hang on the words of self-proclaimed gurus proclaiming riches. And if you try to intervene on twitter, you get get blocked.

There is nothing we can do about that - both twitter and youtube are toxic for the way they promote "gurus" and charlatans.

 
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February 09, 2018, 03:53:01 PM
 #8

I think the problem is that noobs are no longer getting their information from bitcointalk or reddit (where there are plenty of old hands to offer advice).

They are getting advice from twitter and youtube. Both twitter and youtube are echo chambers. Unlike on here where you often find opposing views on the same thread, on there you get groupies and followers who hang on the words of self-proclaimed gurus proclaiming riches. And if you try to intervene on twitter, you get get blocked.

There is nothing we can do about that - both twitter and youtube are toxic for the way they promote "gurus" and charlatans.

You pointed out nicely about youtube, lets look at guys who were promoting Bitconect, they had enormous amount of views because they talked about easy fast money and people get in and now what?

Plus people who heard about bitcoin few months ago are selling courses on about getting good ROI easily and other exiting stories. When new people don't know how to play this game everything seems so easy, they hear people are becoming millionaires out of this (tho you would have to buy waay back for this) and they want to get quick rich. Their fault for being like this I'd tell as these people can be easily manipulated.

I think that we have to show them when educating that crypto and crypto trading is FAR from being easy money, you can take nice profits but you need to have knowledge in this field.
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February 09, 2018, 04:00:44 PM
Merited by Kprawn (1)
 #9

There are also a lot of people who are not experienced with trading and knows how to handle the high volatility, and enters the market with false expectation -- e.g. that their coin will go to the moon in a week or a month's time, while not bothering or are incapable of doing their own research and relying too much on what other people say and tell them.

I am not an experienced trader, hence I spend a lot of time researching on the coins I have now, before even venturing into them. I've also recovered all of my initial capital once I've made a 3-fold gain during BTC boom, so that I am a lot less exposed to emotionally based decisions. And also because I have little and close to no experience with trading and market prediction, I simply HODL those coins that I have found to be promising; making a list of primary (lowest risk), secondary (higher risk with potential higher gains), + tertiary (only putting $100-200 each) betting on these low MCAP coins below $30Mil to be pumped someday so that I can sell off for a profit.

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February 09, 2018, 04:16:53 PM
 #10

There are also a lot of people who are not experienced with trading and knows how to handle the high volatility, and enters the market with false expectation -- e.g. that their coin will go to the moon in a week or a month's time, while not bothering or are incapable of doing their own research and relying too much on what other people say and tell them.

I am not an experienced trader, hence I spend a lot of time researching on the coins I have now, before even venturing into them. I've also recovered all of my initial capital once I've made a 3-fold gain during BTC boom, so that I am a lot less exposed to emotionally based decisions. And also because I have little and close to no experience with trading and market prediction, I simply HODL those coins that I have found to be promising; making a list of primary (lowest risk), secondary (higher risk with potential higher gains), + tertiary (only putting $100-200 each) betting on these low MCAP coins below $30Mil to be pumped someday so that I can sell off for a profit.

Excellent points made there. The expectations are too high, because greedy people are promising these newbies the world.

People hype the shit out of spikes, because they want to make more profits. In the end, people are all pumped up to think

clearly and they make bad financial decisions. {I know of people who are selling assets to buy bitcoins} ...You also

mentioned something very important... Research / Research / Research is VERY important. Do your homework, BEFORE

you invest into anything Crypto related.  Roll Eyes ....DO NOT go into something, without doing proper RESEARCH!

 
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February 09, 2018, 06:15:58 PM
 #11

So the perfect application in RL of this plan would mean people would stop losing their money investing in coins?
I have a far better solution, do not buy any damn altcoin!!!!! Problem solved!

You can't educate morons, you simply can't.
I've called a few "mining" companies scam from the first post, with proofs and yet those threads still pop-up in my watch list with people who still "invested" and got nothing.

Bitcoin is money, you can't stop scams or bad investments with fiat and shares you won't stop them with coins.

As for the FUD, when you start a war against FUD how long it's going to take until everything negative, even if true will be considered FUD ?

 




zenrol28
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February 09, 2018, 06:45:48 PM
 #12

These XCoiners must treat their failures as an experience. Successful people also have down times so they (the XCoiners) should not be so negative when they suffered from failures. We can help them by sharing our stories too. I too have so many failures in bitcoin, like losing in a gamble, emotional based descisions, too impatient. But all of I took them as a lesson and will become successful someday.

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February 10, 2018, 03:45:28 PM
 #13

These XCoiners must treat their failures as an experience. Successful people also have down times so they (the XCoiners) should not be so negative when they suffered from failures. We can help them by sharing our stories too. I too have so many failures in bitcoin, like losing in a gamble, emotional based descisions, too impatient. But all of I took them as a lesson and will become successful someday.

You have the correct mind set, but unfortunately not a lot of people learn from their mistakes. A real entrepreneur will fail 10

times, before he or she hits the Jackpot. {Some never do} ...If you read the book,"Screw It, Let's Do It" about Sir Richard

Branson's life, then you would have noticed that he failed several times, before he became a "Gazillionaire".  Grin ....If these

XCoiners had the same drive and determination, we would have had a lot more "Bitcoinaires"  Cheesy

 
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