Learnt from Someone's mistake

[AakZaki]

Congratulations on finding the forum, and if you have set priorities not to be in your friends situation or prevent it befalling your friend and others, the forum can help, you can be active, on beginners and help that is here, and also the scam accusation board https://bitcointalk.org/index.php?board=83.0
People are exposing scams they fell for or read on the news you can learn there or you find your local board, for new scams making the news in your country.

talking about local boards, of course the beginning of everything starts from local boards. all good and bad experiences will be told on the local board first. Local boards become the main discussion for beginners because the language used is the same and can understand each other.
Learning from other people's mistakes on your local board will give you troubleshooting and a warning not to get stuck on the same mistakes.

[1715102889]

1715102889

[aoluain]

Always suspect when something is too good to be true, it usually is.

snip

Think about it, if someone is advertising such a fantastic investment opportunity you
really have to pause and ask yourself some questions.

Why are they not just doing it themselves?
What benefits do they get by advertising and inviting others into the scheme?

You also have to realise, once you hand over your posession to another you
lose control of it.

Welcome to the forum @Cynthia_sinach042 Learn as much as you want, read a lot,
thread carefully and be economical with your trust even here on the forum apart from
members who have a lot of positive reputation.

[nakamura12]

As what the title said. Learning a lesson. Since you mentioned about learning from mistakes. There is two types of learning from mistake. Either you learn from your mistakes or learn from someone's mistake. You need to be careful from such promises or schemes that said earn profit in just a few days or few hours which it's not true. Take what aoluain just said, why would you waste your time sharing a way to let you earn huge money or profit when you can do it yourself if there is. It is like not telling your secret recipe. If they really earn huge profit then why are they trying to lure people with it?. Good luck in learning and reading. Welcome to the forum.

[Oceat]

The most common mistake of a newbie is they don't know how to do their own research because they were blinded by the idea of making money too easy. In fact, there's no easy money because most people work very hard to acquire that while some of them just happened to have a brain yet they didn't use for good but instead they use it for scamming people just like OP's friend.

If only our school would teach us how to invest and what are the precautionary measures to not easily fall for the investment traps we wouldn't be a newbie victim to an easy money but school never teach us that.

[ReiMomo]

hello everyone my name is Cynthia am in my early 20's first time I would be using the word newbie, but yes I am a newbie, I really don't know if my post will make sense or would be liked, well before now I have lived a life of careless investment along with my friends we are what you can call, bring an new platform/industry and we would invest without doing our research, well I don't know what luck it is called but some way or the other we have always been winning and a small lost here and there, but the winnings are little.

   so there was this particular platform, with mouth watering benefits my friend came across on whatsapp called Bitcoin invest, we really didn't know much about bitcoin only that it was a cryptocurrency, infact we didn't know what cryptocurrency is about at this time I had no money, but my friend had money she had kept aside for something very important, she actually joined the whatsapp group and the admin was good with words promising heaven and earth, my friend fell for it (I too would have but I had no money on me or any one kept aside), long story short my friend invested and after few weeks got blocked and removed from the group, she is still devastated up till this day.
since the lost I have taken an interest in Bitcoin and from what I have come across I and my friend has faulted in almost all the don't of Bitcoin or cryptocurrency, we were very reckless and it had to take a misfortune for us to learn, I know many personally who are still making mistakes in cryptocurrency.
I think I have so much to learn and give out to those I can, the few I have learnt
+ don't investment with money that's not yours or you can bear losing
+ don't fall for smooth promises
+ investigate what you want to invest in

Am still learning, I have already read the rules, and am hoping I can become good in cryptocurrency and maybe expose fakes and scams to others around me

This has happened to many here but it might be on different platform. I too have lost some money on a different online savings scheme. But later became much aware of such activities. We listen from experts saying, do not fall into such online activities. But since we are new to it and get brain washed, we tend to fall into it and get cheated. Later yes we realize it. As we grow up we learn many things after loosing all that we loved.

[totaleclipseofthebank]

Well done, I hope you the best. The cryptocurrency world is too temping that no one can skip such opportunity to get rich. However, people only speak when they win, not when they lose and bad luck can happen to you at anytime. I was in a group on telegram where people reported being stolen money from multiple types of scam. The most notorious was the scam tokens contract: some scammers send you some tokens which can worth upto $10000 on their website and you think that you are fking lucky. However, exactly at the time when you approves your contract, BOOM, every coins which you have will eventually move out to another coins. Such a piece of trash.

[Gozie51]

Yes it is a saying that it is better to learn from another person's mistake and another says, it is a wise person that learns from another person's mistake. However in your own case it is good to even point out to you that you didn't learn from another person's mistake or your friend so saying, it was circumstances that made you lucky not to invest sheepishly like your friend just as you friends have been doing far before that particular investment from your writing that I read. A wise person learning from another's mistake is when they don't follow the line of the exposed mistake.

The advise is not to allow your emotions ride on you. Do a good research and invest small as a beginner and you grow gradually.

[CryptopreneurBrainboss]

I think I have so much to learn and give out to those I can, the few I have learnt
+ don't investment with money that's not yours or you can bear losing
+ don't fall for smooth promises
+ investigate what you want to invest in

It's generally not advisable to go borrowing just to invest because of the discomfort that come from such act when the market is in an unfavorable condition, it becomes too much for newbie to handle and then individuals that don't have the experience will easily fall victim to manipulation in the market.  Excluding this borrowing to invest isn't entirely bad but that should be left for the professional and don't go putting yourself in a situation that you can't get yourself out off.

Leaning from others mistakes is quite underated in this space as many don't seems to do so because if we were actually learning from the mistakes of others then most of the craps of a trend popping up every now and then won't have become a norm.

Assuming lessons were learnt from those who invested in the hyped crowding funding trend (ICO) back in 2017 and lost, we won't have been having same rush for the meme craps and NFT bullshit.

[trickys]

It's good that you've learnt from the mistake of your friend.
That's why I always say that if you deal with an investment company or a broker, you should only deal with a regulated entity.
Too many crypto bucket shops now.

[cabron]

The one thing that is always true when it comes to avoiding scams is that "IF the offer is too good to be true"  It must be a scam.

The investment that is guaranteed to be real is the top coins in crypto that are listed in various exchanges, which would be hard to dispute but there are still side chains that could be scams as well. Recently there was even Squid Game coin. So it's better to just invest in existing projects and not the new ones and this is learning from someone's mistake.

[izumikoushiro]

Now many cryptocurrencies investment sites with promotions will get a lot of results. But it only lasted some time. In the beginning, the site was still paying, but it couldn't withdraw for some time, it didn't enter and the site had an error and couldn't be visited. My advice is not to be too easy to trust to invest in new sites that do not know the track record.

[traderethereum]

It's good that you've learnt from the mistake of your friend.
That's why I always say that if you deal with an investment company or a broker, you should only deal with a regulated entity.
Too many crypto bucket shops now.

That is why I do not have too interested to make an investment in the investment company because we can not control the cash flow of the money.
We let them manage the money but on the other side, we have a risk if they do not work as they promise.
When we can learn from other people's mistakes, we will know how to prevent or manage the risk and even if the risk still happens, we already have a way to anticipate it.
One thing that we must remember, if the offer looks too good to be true, we really need to be careful and must research for more to find if that is real or fake.

[Masplanc]

It's sad if everyone keeps on making the same mistake. The wise uses the mistake of others to learn a great lesson, doing this will make one to grow. Waiting to learn from self mistake it's pain and risky especially in cryptocurrency world.

[GeorgeJohn]

It's good that you've learnt from the mistake of your friend.
That's why I always say that if you deal with an investment company or a broker, you should only deal with a regulated entity.
Too many crypto bucket shops now.

Learning is versatile knowledge and the reason we have to correct our mistake is not to fall the victim of someone have fall or made before, that's while it's important as beginner to the learn from the old user in any instructions or organization we found ourselves. Learning and Observations is the primary or elementary priority of everyone who want to acquire knowledge without been devastated in direction, actually without you haven't made a mistake of your own, human won't be curious or serious about its own development, I'm using this medium to recapitulate that we have to learn from whosoever to achieve our goal and escape from mistake.

[CryptoHeadlineNews]

It is in making mistake we tend to know what doesn't work from what actually works. But it is always a pity investing blindly, and most devastating when actually the capital is a borrowed money.😭😭😭. And that's why here we always advise people to "DYOR" Do Your Own Research before venturing into any investment

[Luffygroove]

The crypto world is really a harsh world. There is no one that you can depend on except yourself that's why you need to know what are you doing, learn carefully what is it all about. People can learn from their own mistakes but also could learn from others. This forum is a great place to educate ourselves about cryptocurrency and we need to be grateful for that, so keep learning and don't be careless.

[Poker Player]

  so there was this particular platform, with mouth watering benefits my friend came across on whatsapp called Bitcoin invest, we really didn't know much about bitcoin only that it was a cryptocurrency, infact we didn't know what cryptocurrency is about at this time I had no money, but my friend had money she had kept aside for something very important, she actually joined the whatsapp group and the admin was good with words promising heaven and earth, my friend fell for it (I too would have but I had no money on me or any one kept aside), long story short my friend invested and after few weeks got blocked and removed from the group, she is still devastated up till this day.

I am going to tell you some rules to invest safely:

1) Never invest in what you don't understand. If you are going to invest in Bitcoin, or whatever, read, get informed. In this forum you can ask questions if you don't understand something. If you are going to invest in stocks you can join specialized forums and ask questions there.

2) As you have been told before:

Always suspect when something is too good to be true, it usually is.

A very common scam is to offer exaggerated returns. It seems to me that you don't have much idea of mathematics, but try to learn basic mathematics. Many scams in the crypto world offer you returns of 50% or more daily, which if it were true would make you a millionaire with little initial investment in a month. All the ones that offer you mouth watering returns are scams.

3) If at some point you are going to invest in crypto, although I would recommend that you focus only on Bitcoin, remember that "not your keys, not your Bitcoin". Buying Bitcoin and holding it yourself has proven to be extremely profitable, don't leave your Bitcoin to someone who promises you even more profitability because you risk losing your Bitcoin. If at some point you are going to invest in crypto, although I would recommend that you focus only on Bitcoin, remember that "not your keys, not your Bitcoin". Buying Bitcoin and holding it yourself has proven to be extremely profitable, don't leave your Bitcoin to someone who promises you even more profitability because you risk losing your Bitcoin.

[CryptoCraze11]

The most common mistake of a newbie is they don't know how to do their own research because they were blinded by the idea of making money too easy. In fact, there's no easy money because most people work very hard to acquire that while some of them just happened to have a brain yet they didn't use for good but instead they use it for scamming people just like OP's friend.

People think that crypto is just about investing some money and getting rich in few days, in my view that mindset is the biggest mistake that needs to be changed. We read stories of successful traders but nobody read how much time and effort they have invested apart from capital in order to become a successful trader. There is dire need of awareness about crypto trading specially among new comers.

[lovesmayfamilis]

Why so often do we see stories in which people lose their money, trusting in all sorts of advertisements?
Here gave a lot of good advice on what you need to study the place where you decide to invest your money. But regularly, very scammers use the phrases "limited offer" or "hurry up". It is the fact that someone will be in time, and suddenly make a profit, and I may be late and puts pressure on the psyche of those who frequently fall for scams.
In addition to the advice that offers with good dividends should raise suspicion, it is also necessary to turn on the "brake mode" so as not to rush, but to think about why the organizers would pay more interest, and think that this will most likely be another scam.

[Pmalek]

If you find something early $200 in bitcoin in 2015 is now $48000, so what's the point in taking additional risks?

Some people believe that history will repeat itself. If it happened to Bitcoin, it will surely happen to other assets as well. That's the way they think. All we have to do is keep searching for that new Bitcoin. Many missed out on the Bitcoin early days, and they now want to make up for it with an altcoin not knowing that it will likely never happen.