cripperz
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Blog.CripperZ.SG
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April 25, 2019, 07:10:33 AM |
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not to mention these are the people with the loudest voice.. claiming crypto investment is a scam etc.
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Make sure you back up your wallet regularly! Unlike a bank account, nobody can help you if you lose access to your BTC.
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LogitechMouse
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Chancellor on brink of second bailout for banks
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April 25, 2019, 07:10:51 AM |
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Because they lacked in experience regarding price movement of Bitcoin.
He is afraid to invest right now because he invested when the price of Bitcoin is at its peak and he sold it at a loss. Now he is afraid to invest because what he is thinking is what happened to him last time will happen to him again.
Anyway, you can't blame your brother in law because that is his decision. Let him decide and he will regret again when Bitcoin's price will rise up again.
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Pursuer
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Where is my ring of blades...
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April 25, 2019, 07:51:02 AM |
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And he says... "NO, NO, NO. Not for me - I learned my lesson"
No Dumb-Ass... You didn't learn shit!
that is the story of a great number of "traders" in this market, and most of them never learn their lessons. I somewhat agree with the first reply but I say he might have learned his lesson only if he doesn't come back ever or only comes back when the educates himself. but in my experience these types of people never change. soon enough when the big rises begin they come back and again lose money because of bad decisions. in some cases it is even like an addiction! and that doesn't stop there either, some even go to altcoins since they lost money in bitcoin and then get crushed even harder because they suddenly decide they should bag hold altcoins and as they get dumped on them (since they are pump and dumps anyways) they lost all their money there. |
Only Bitcoin
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CryptoBry
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April 25, 2019, 08:07:08 AM |
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Well, we have to understand that not all people are born to be good at trading in the same manner that not all are born to be doctors or teachers. This is especially true with cryptocurrency where volatility is a big reality and because of its volatility greed can come in for many people, and we know that greed can be fatal in trading. I now realized that dealing with cryptocurrency for many people is just like falling in love which can be disastrous in many cases. Though of course, some can have happy ending.
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zeingrind777
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April 25, 2019, 08:07:43 AM
Last edit: April 25, 2019, 12:05:05 PM by zeingrind777 |
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I also experienced an mistake in trading, at that time I invested in Ethereum. March 2017 I bought it when the price was 19USD. When in December ETH prices reached 800USD and I still held them because I thought the value would continue to increase. entering 2018, I sold it with great regret.
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bering
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Leading Crypto Sports Betting & Casino Platform
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April 25, 2019, 08:11:28 AM |
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This kind of people only following trend and they were only became the victim of FOMO and i had seen them a lot in my country when bitcoin price over than $15k they didn't stopped to buying until hoping the price will continue high and after the price gradually dropped they blame bitcoin because they says bitcoin was scam and stay away from it however they aren't suitable joining crypto world
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Kakmakr
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April 25, 2019, 08:30:37 AM |
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I do not have any problems with my relatives, because I explain the risks involved with an investment into Crypto currencies in advance. They MUST know what the risks are, BEFORE they invest and they must understand that this technology is a HIGH risk investment, because it is still experimental.  They should also NEVER use debt to fund their investment in Crypto currencies, because nothing is guaranteed in this scene.  Then it is all on their shoulders to make the decisions. Tip : Let them start with small amounts first.  |
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Vannie12
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April 25, 2019, 08:51:22 AM |
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I guess that is because it is very catchy at the moment. When something trends up, even if it is very expensive, people can not resist. I do not know but most people are like that. They won't recognize your opinion but would probably end up being teased and do it themselves. It is annoying but at least it is not you to blame.
I also have that one friend who did buy when it started to shoot up. He did nothing! Now its half of what he have invested.
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The Cryptovator
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Need PR/CMC & CG? TG @The_Cryptovator
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April 25, 2019, 09:18:08 AM |
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Well wrote OP. And this is the true. I have few online friends once bitcoin was $3.1K I have suggested to buy Bitcoin, but they refuse as well. But when bitcoin has been touched $4.5K then they were asked me to buy. Then I said during my suggestion you had not buy then why are you asking me? I don't know after that they bought or not. Usually people's behaviour is greedy. So during pump they like to buy and eventually they get REKT. Lot of people's wonder to buy during pump. But during dump they think it will go more down so wait wait. But really we don't know where is the bottom. So if you found bitcoin yearly bottom then we should take entry.
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dothebeats
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Cashback 15%
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April 25, 2019, 10:25:28 AM |
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It's one of those lessons which cost a lot and makes you stay away fron something ever again. Whatever your relative's mindset regarding investments, don't budge in or make them place money on something they don't fully understand. That right there is FOMO done wrong because you may have only explained the trading aspects and not the entirety of what he/she needs to know about bitcoin. Should you go for the latter approach, he/she may have reconsidered and profited a hefty sum.
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aad140386
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simply getting the job done
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April 25, 2019, 10:58:42 AM |
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You called him a stupid trader, but he is not a trader. He is just an investor loser. There are many of those. People invest money in something they don’t understand at all. And your friend did the same. At first he did not want to invest in Bitcoin, because he did not see his prospects and then decided to drop into the departing train. Greed won out over common sense and he bought bitcoins for $ 15,000, and then became disillusioned with cryptocurrencies because he lost money instead of making quick money. There are 80 percent of such people on the cryptocurrency market. And they will always be. With this you just have to accept.
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Mycro Jobs
〈 SIMPLY GETTING THE JOB DONE ⟩
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BitcoinPanther
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April 25, 2019, 11:22:28 AM |
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Not much of that bitcoin stupid story but I wanted to react on your story. Why is it - that people are so ready to buy AFTER it pumps 50X - And then cry or call BTC a scam after they lost their ass?
But won't touch BTC once it stabilizes after a collapse?
People tends to reject what is not on the trend. If we tell them to buy this stuff but it is not in the current trend, they will ignore it and so when the train left and the price skyrocketed, they will buy it because they have this regret in their mind and probably if they buy during that "trend" they will at least get profit. But sadly that does not happen and mostly, people who buy because it is the trend often lose. And once they lost their investment, they will turn their back on it while cursing that investment and will never touch that item again. Unless he changed his views on BTC and get educated about BTC. |
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pushups44
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April 25, 2019, 12:25:19 PM |
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That's a perfect example of human psychology. People were FOMOing into BTC when it was at or near its all-time high, but when it collapsed they sold and lost interest. They will then jump back in when BTC hits new all-time highs. One way to come to terms with this is by recognizing that this tendency of human psychology presents solid traders and investors with a golden opportunity.
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kawetsriyanto
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Free Bitcoins Every Hour!
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April 25, 2019, 12:35:09 PM |
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Well, I think this condition also happened in some bitcoin investors where they invest in Bitcoin when the market is pump and bullrun, they are only attracted with something booming and very profitable at that time, but not for the long term condition.
Well, I think some may have lessons from that fear experience where they must utilize the right moment when to buy, hold, and sell, not only following the hype.
However, I don't know what happened to your friend now that he ignored to invest in BTC. Does he regret and fear of losing more money? Or he takes the lesson not to invest in something that he really doesn't know how to make it?
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Mr.Ease (OP)
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April 25, 2019, 12:58:26 PM |
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You called him a stupid trader, but he is not a trader. He is just an investor loser. There are many of those. People invest money in something they don’t understand at all. And your friend did the same. At first he did not want to invest in Bitcoin, because he did not see his prospects and then decided to drop into the departing train. Greed won out over common sense and he bought bitcoins for $ 15,000, and then became disillusioned with cryptocurrencies because he lost money instead of making quick money. There are 80 percent of such people on the cryptocurrency market. And they will always be. With this you just have to accept.
I like this reply. Your right - He wasn't a trader - just an investor loser  Which, I hate seeing. I want people to make money and to be happy with crypto, and being a relative it kind of hurt me to see him lose so much. I guess it also kind of hurt that he just went out and bought a significant $$$ amount without even considering what I would say - Which is why I call him a Stupid Trader. As with other comments here - I fear that he will do it again in the future if/when Bitcoin starts pumping again. Like someone had said, at $100k he will most likely re-buy and get burned a 2nd time. |
~ Too Many Scams, Schemes, and Shitcoins... ~
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pundit
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April 25, 2019, 01:18:21 PM |
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Unfortunately this is the story of most of the people associated with financial markets, buying late and selling in panic. I think its better to suggest someone to buy BTC or altcoins if your analysis is good about it but if one is not ready to invest just leave him.We should also tell about the risk involved before suggesting anyone to invest in Bitcoin/altcoins so that investor invests only the amount which he/she can afford to lose. I suggested some of my colleagues to buy Bitcoin when it was $1K but none of the bought it, ok that is their call, if someone is not ready to take any risk let him not to take, thats it.
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agatha90
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April 25, 2019, 01:20:30 PM |
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What makes him not believe in your words? I read your story, it's really very sad if your sister buys bitcoin when the price is high. If he follows your words, he will benefit several times.
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Mpamaegbu
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Once a man, twice a child!
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April 25, 2019, 01:30:21 PM |
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My brother-in-law is one of these idiota's - Let me explain...
I bet your in-law doesn't know your moniker on this forum (obviously he isn't a registered member), otherwise that might cause you your in-law ship with him for using such strong word on him. You see, life has different shades to it. That someone differs with us on issues doesn't make him a less intelligent person. But more importantly is the fact that people like to chase price. For these people it shows that patronage determines the usefulness of a thing (this is not totally correct) This was what happened with Bitcoin in 2017. People like your brother in-law helped boost the demand and sent price to the moon. We need more of his ilks to ride us to another FOMO in 2019. May be we achieve a fresh ATH. |
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BitBustah
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April 25, 2019, 01:53:58 PM |
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The truth is no one really knows for certain what the future holds. Most of us on this forum are bullish and expect bitcoin to last for a very long time but its still young and a lot of the skeptics have good points.
Investing and trading isn't all about intelligence but rather about keeping your emotions in check.
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Kasabus
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April 25, 2019, 01:59:07 PM |
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He got caught on FOMO, but very weak to sold when the price is dumping, his only purpose is just to cut his losses but still lose a decent amount.
Maybe he get out completely in crypto as he is not interested in buying again although you told him the best entry price.
For me, I don't have story to tell as my friends don't believe in crypto investing, so they will never gonna buy, they just talk without talking an action.
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