Since you started crypto what has been the greatest mistake you made?

Mine occurred when I new started, I got dupe by a man who told me he would help me sell my BTC at a higher rate. And back then I had up to 2.06 BTC and I sent 1.06 to him and he disappeared with both the BTC and my money. I remember posting his photos on social media trying to find him 🤣🤣🤣.
It was one of my toughest challenges but I thank God for helping me scale through it.
My experiences have taught me a lot and I'm happy with my learnings.

Investing in a token that went up more than 10x but still held, totally ignoring all the red flags I was looking past through. Of course the token ended up crashing back down because it was really bad and I was too naive back then.

tldr; don't marry your bags. 99.9% of projects are just for getting in and getting out immediately.

I have not made any big mistakes, as both of you have described. Probably the only thing would be not to have started buying earlier, and not to have bought more. But with hindsight I don't consider it a serious mistake, because it is very easy to look back when an investment has been very profitable and think that you should have invested more. At the time you didn't know how it was going to turn out.

Getting scammed by ponzi and doubler scheme. And also not taking profit during all time high and selling all time low are my greatest regrets during my newbie days that's why I decided to study technical and fundamental analysis. After that my portfolio an impressive growth and I have a very tough risk management right now so still happy that my previous mistakes helps me a lot to grow.

Quote from: JustEducated on January 09, 2022, 01:57:23 AM

My experiences have taught me a lot and I'm happy with my learnings.

We learn in one way or the other due to ignorance or no knowledge about a situation.
What happen to the rest of your 1 btc, hope you are still holding right?

One thing I mostly regret in my journey is not taking any risk at all or perhaps I lack the confidence of taking such risks into something that could make me millions.

I am an artist myself and I didn't bother learning about non-fungible tokens and what I could achieve by participating in them when it was still profitable. To be honest, seeing other people make thousands of dollars through NFT whitelisting makes me jealous. Another thing I regret the most and I considered as mistake is not learning degen trade for shitcoins which other people also tried risking their money only to flip coins in exchange for 10x of their capital as a reward.

I know it's dumb to compare your progress to other people but sometimes it is kinda useful to fuel your drive in order to avoid doing the same mistake again.

Quote from: JustEducated on January 09, 2022, 01:57:23 AM

That's not an investing mistake but you have been scammed. Sometimes trusting someone too much is just not going to help when it comes to money especially when it's someone from the internet.

One of the mistakes I did is holding tokens that for so long and not selling when it's reaching their ATH. It's not just me having this kind of mistake I believe. There are just holding me back from dumping because of thinking it can repeat itself once again. Ony to find out it only occurs to the BTC cycle, not on altcoins.

I have tried all my best to avoid scam, I do not just invest on a new project, I was not scammed but I learn how to trade which was where the mistake came from. I have enough to start to trade, I lost certain amount that would have turned big supposed I had it in bitcoin. I later learned future trading all to lose all my money, it was a painful experience I do not wish ever again. I wasted my time and money, there were times I did not have enough sleep and devote my time to it, but all to lose again. If I had my money in bitcoin, bitcoin grew from $7200 to $40000 which is the recent price, it was even beyond but I will still be in money even with the present bitcoin price.

I haven't faced any issues or committed any monetary mistakes from the day I started crypto. I have been always referring to the forum whenever I am in any doubts. At the end of the day you still need to do your own research but the forum has always helped me to find the right direction.

My big mistake is that the offers to receive bitcoins instead of another payment method were rejected by me. This was the beginning of the development of bitcoin, I did not believe in it. If I had accepted my boss's offer then and had saved that amount in bitcoins, I would have been very successful. Unfortunately, this did not happen.
We never know in advance how our actions will respond in the future.

Don't trust stranger who promises anything out of thin air. Chances that they are scam are 100%. Most newbies dilemma are like that. I remember too that I had once scam but I promise to myself that it will never occurred to me again for trusting someone who talks so sweet and almost that they got you or reassured their legit showing you a lot of stuff then in the end you'll realise all details are made up and fake.

Unfortunately there are a lot of scams on the crypto and one should be very careful.
I didn't have such an experience as an OP that someone directly deceived me and stole my btc but I had other stupid mistakes.
I think the biggest mistake is that I sold part of the btc in 2017 and bought some shitcoins that lost all value in 2018.
If I hadn't done that I would have a lot more btc now but on every mistake we can learn.

Quote from: Daniel91 on January 09, 2022, 08:02:09 AM

I think the biggest mistake is that I sold part of the btc in 2017 and bought some shitcoins that lost all value in 2018.
If I hadn't done that I would have a lot more btc now but on every mistake we can learn.

mine is not buying again after making a profit from the 2017 ATH. it was one of my biggest regrets in my time knowing cryptocurrency. if only I didn't get scared at the time I would have been able to gain profit again when the price of BTC started rising again. anyway, there really is no point in me dwelling on it.

For me, it's abandoning the idea of mining BTCitcoin ^{[back in early 2011]}, as soon as my GPU died ^{[after a couple of months]} and instead of keeping the mined coins safe, I traded my desktop ^{[with most of my mined coins in there]} for a laptop!
^{- It's worth noting that, back then, I had very limited knowledge about BTCitcoin and I was just following a bunch of tutorials from a certain Facebook group.}

I remember being quite thrilled with one project that I thought could really succeed, but of course, it failed like most ideas that were based on practically nothing. I don't regret so much the money I invested in the project, but the time I invested - yet most people seem to have to learn the hard way. Of course, inexperience and misunderstanding play a big role in such things - so I'm not surprised that beginners still believe in various crypto fairy tales.

I'm just wondering if anyone still remembers that project ?

I personally haven't made any real mistakes because I am super cautious when handling money, but that also prevented me to make any significant amounts because that same caution has restrained me. But making mistakes is nothing to be ashamed of, if you learn from it, then that has its value in gold, imho. And with the expansion of the forum and people reporting their errors and scams, there is far less of a chance to lose one's money. But, someone had to make the first steps and be on the frontlines, make those mistakes for others.

Probably my biggest mistake was ignoring crypto in 2013 when I very briefly got interested in Dogecoin and tried mining it on my GPU. If I started accumulating in those days, I would have been much more richer now. But it's hard to take a lesson from it, because if you're on this forum, you probably not going to lose interest in crypto anytime soon. But in case you do, let it be a reminder that Bitcoin very likely has a lot of growth ahead of it.

Patient, is still my biggest challenge in crypto because i regreted many decisions because i'm not patient enough to the market condition and the coins that i hold. I have missed many opportunites if i total it on a value of USD maybe around 10k USD just for the last year because i'm not patient enough when something bad happen or something good happen.
But everytime i did a mistakes, i did learn from my mistakes and prepare for the upcoming chance that i will face, hope it will be better in the future.

My biggest mistake is using margin and think that I can control risk of liquidation. Most of times, I can control it but margin trading does not work like that. Just one case, when you are losing control, your collateral will be liquidated. Worse, if you repeat it a few times, your initial capital will be eaten up and fall to almost 1 or less than 10% of initial number.

It's bad, very bad!

So my advice for crypto newbies is simple

Don't use margin if you have less than 4 years in this market
Don't use margin if you are not rich and have big capital
If you use margin, please use not more than 10% of your whole capital for margin trading

Quote from: JustEducated on January 09, 2022, 01:57:23 AM

Everyone can say they have been scammed but they don't really tell us the evidence that they have been cheated. I don't have any prejudice against you, but if you don't tell us the evidence for the story, you may also want to trick us into believing that you have been scammed. Is this fair?

I don't really believe that you trust someone you don't know online with 1 bitcoin for a 5 digit price in dollars. It's very hard to understand, what makes you believe it's the worst way you ever do with your money and bitcoin.