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Author Topic: Don't be a crypto sheep  (Read 281 times)
tranthidung
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August 12, 2020, 08:53:18 AM
 #21

Speaking of research: It's funny how A LOT of people barely understand Bitcoin's basics(with some not even knowing the basics on how custodial and non-custodial wallets work), and yet they immediately try to go with altcoins. The perfect disaster for inexperienced "investors".
You nailed it @mk4. People tend to be lazy to learn so that they are unknowledgeable and they are also greedy.

People said "Hey I am bitcoin / crypto investor" but in reality they don't know why their transactions are not credited to account balance when they move funds from one exchange to another. They don't know what is hash of their transaction, how to check and get it for support. Some also make noise like "What is it, the exchange is hacked. My BTC was deposited to my account but when I check block explorer, it was move to another address, blah blah".

For such people, such self-claimed bitcoin investors/ enthusiasts, what covers their mind is money, not bitcoin, not crypto.

Another story is, instead of buying a good coin at bottom price and wait for its pump, they jump to coins already have x-fold pumps and hope that they can get 20 or 50 percent of profits within minutes or hours. Who care about risks, it is pumping (like SRM)! or TNT (Tierion) - many people FOMOed and got lost with the shitcoin after it was delisted (TNT/BTC) from Binance.

In such situation, emotion decides their gambling activities and they get lost.





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August 12, 2020, 11:26:20 AM
 #22

I agree entirely with the advice above. Researching into projects before putting your funds in them is really important. There are always Interesting articles on   projects however most of them are for hype and they do not bring out the true picture of the projects. Following the hype always can cost you a lot. Projects with  good fundamentals can always stand the test of time.
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August 12, 2020, 02:25:54 PM
 #23

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I will urge the newbies to not just make decisions based unknown recommendation but to research deeply into a project. Yes you can say do all bounties you can and whichever is successful is a luck. It doesn't have to be that way as it can be time consuming and i believe time is money. Take your time to learn about a project by going through their whitepapers for specific roadmap and usecases, try asking the team members questions and see if they seem less serious or unsure. Go through their social media channels and see how they interact with followers. This way you won't be a sheep following other sheeps blindly.


The first and the most important thing is how to do a research, this is the first thing that you must learn you need to know where to check and how to check your guidelines are all correct scammers are good in imitating a good project and some prefer to scam at the last resort because they cannot keep up anymore, like what happen to Adab just because they cannot acquire license they choose to scam their investors.



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August 13, 2020, 11:22:29 AM
 #24

Quote
I really like your points, that shows that you have a positive ambition to be here

Thank you for the commendation, i really appreciate it. Taken to your advice, will always consider the advantages and disadvantages of a project henceforth. I had always focused on ADVANTAGES only.
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August 13, 2020, 01:55:35 PM
 #25

This is the most common problem of the newbies that would like to earn a lot of money they are making an investment to the platform or coins that have huge money back to them after a single week or months and why do they discover this? Sometimes came from the people on their surroundings and some of the groups common this kind of transaction happen in the telegram which is the most common communication tool we have right now.

To all newbies and would like to make an investment to those coins and platform, we won't tires to tell you again.. and again to make a lot of research and background checks about those platforms and coins because this has money involved and we want to make earning but the outcome of being tired to have a background check is just a step towards to your mistakes.

Knowledge is the most powerful right now if you do not have any knowledge and information relates to business, investment, cryptocurrency, and more you do not have any chance to survive in this environment.

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August 13, 2020, 05:43:16 PM
 #26

This is a good and enlightening topic for those people who are new here.

You should really not rely on the things that you only see here in the forum and other platforms. Doing own research and making independent on the things that you've encountered will make you have your own decision making become beneficial for you. Not all programs are applicable based on our preferences and skill so don't expect the same result as what you've expected when you engage in a certain program. Look for what's the best for you and seek for the information that will really become effective for your own growth and learning.
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August 14, 2020, 11:29:30 AM
 #27

On the one hand, it is good that there are such investors because they give people who understand a little more of the subject to earn precisely from such investors, and on the other hand, it is bad for the whole ecosystem, because people start to despair and think that everything is worldwide ponzi scheme

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August 14, 2020, 02:41:22 PM
 #28

This is a good and enlightening topic for those people who are new here.

You should really not rely on the things that you only see here in the forum and other platforms. Doing own research and making independent on the things that you've encountered will make you have your own decision making become beneficial for you. Not all programs are applicable based on our preferences and skill so don't expect the same result as what you've expected when you engage in a certain program. Look for what's the best for you and seek for the information that will really become effective for your own growth and learning.
Being dependent on yourself is much better than being a follower by those people who are actually not seeing you there. Being knowledgeable about a thing that we do is only a weapon to become independent. And even it looks like we are a crypto sheep but actually, we decide our own path to follow, not being dictated by someone above.

If we don't stop learning, it gives us a wider crypto understanding. I know that not all things can be acquired by all individuals but being ignorant of something we know less is very ashamed. The most important in crypto space is to create a concrete decision and one goal.

.
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August 15, 2020, 08:52:29 AM
 #29

I agree with OP, we need to have our own judgment to decide on what projects we trust and which ones let go. If we see tons of people joining to the same project, that doesn't warrant it will not end in an exit scam.

So, if we are not secure or if we have doubts about a project, then the best option is to stay away from it.
Many good seeming projects with troops of followers on social media failed and exist to scams, meanwhile, investors fail to perform DYOR on some project making them moved by the huge followers thinking it a good projects. One other thing that keeps investors like sheep if following crypto influencers, they are mostly whales that deceive newly investors setting a trap that favours them at last. Thorough research is the perfect way.

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