NO RISK, NO REWARD

[Proro]

My first experience with Cryptocurrency made me zero my mind of it, which I later realised was a very terrible mistake. Some years ago a friend spoke to me about Cryptocurrency, how we can invest in it and make profit, he had the idea about Cryptocurrency, I have the money to invest it. I was shocked when he later came to me that we have been scammed, the he had trusted to teach him and put him through have duped him.

From then, whenever I hear about Cryptocurrency, I always say it's a scam and I was really angry with my friend.

Despite all we both experienced, my friend didn't give up, he still went ahead to invest again in Cryptocurrency (Bitcoin). Luckily this time he had a different experience because he started to make it in Cryptcurrency, he had start making profit on his investment. He came to tell of his new experience how he his now making it in Cryptcurrency (both in Bitcoin and others), I didn't listen to him until recently when he was able to calm me down and made me see reasons why I needed to invest in Cryptcurrency with these words "if there is no risk in business there might be no reward" and I concur!

But this time I'm learning it myself and know how it works.

[1715487944]

1715487944

[jackg]

It's only half true the no risk = no reward because you have to learn how to take managed risks in investing so you don't just lose money (especially to scams).

If you don't learn the risks or how to manage and limit then then you'll end up with less of a reward than if you did full research.

[Coyster]

You're sounding like one of those get rich quick investors we get in the network every now and then, you and your friend should understand that Bitcoin is not like gambling were you ride your luck, how can you invest in something without doing your own research; cause if you did you would understand that Bitcoin is a long term project, and as an investor you have to be patient and not expect quick returns.

Yeah, you can say no risk, no reward, but mind you that there is what is called stupid risk, for example when you invest without doing your own research, or you invest more than you can afford to lose, or you invest cause your 'friend' did invest, etc, all of the following does not make you a risk taker, it only keeps you open to avoidable loss of funds.

[hatshepsut93]

Investing is always a risk, but what separates good investor from bad investor is that good investors knows how to make investments where potential profits are far bigger than the risks. And bad investors are on the contrary taking huge risks with little potential reward. Simply taking risks is not enough to succeed, and not taking risks with things you don't understand is actually a rational thing to do.

Bitcoin is a good investment, because it's less risky than alts and it has demonstrated a strong long-term growth. But people get greedy, they want big profits fast, which turns their attention towards high risk, low reward "investments".

[BitMaxz]

Actually, I also have friends thinking about Bitcoins before and most of them told me it was a scam or a pyramid scheme.
I never invested in Bitcoin the first time that I heard about bitcoin but because of greediness and want to earn more from faucets I decided to invest in investment sites and cloud mining sites. Which end up both of them becoming scams because all of my deposited Bitcoin is stuck and can't be able to withdrawn.
 
I never think that Bitcoin is a scam but there are businesses out there like Cloud mining and investing sites 99% of them are scams.

Buying Bitcoin and investing are totally different be careful if you are dealing with someone telling you to invest in Bitcoin.

The only risk of having and holding Bitcoin is the price movement but the price of Bitcoin keeps increasing every 4 years.

[Oceat]

Every newbies experienced this especially if you don't have any knowledge about how crypto currency work and when there's a money involved always expect that there's a risk not just by losing in trading but also losing it when scammed. I myself was a newbie in the past and having the same mindset as yours but we didn't stop though after we did some research with my friend when we are scammed by someone. And you did the right choice, no one can earn profit if they don't risk something.

[Bitcoin_Arena]

Also, while you decide to risk, make sure you care out due diligence first, to cut the risk of losing your money to pointless scams. There are many scams surround cryptocurrencies, so one has to have some knowledge about how to identify scams and avoid them.
Had your friend been good at research, maybe he would have not been scammed at first.

[Ahli38]

inside crypto or outside crypto. Everything has a risk and also has a reward according to the risk taken. The higher the risk, the greater the benefits offered. like participating in pumping up the price of coins.

and usually a low risk then the rewards offered are low. but not all like that.

some are low risk but can get big profits. well that's for those who are mature in crypto science. they are good at analyzing and researching situations.


but you do not believe if someone offers an opportunity that gives very large rewards with low risk or no risk. That's a clear indication of fraud. because the characteristics of people who will cheat are like to talk and lure profits first and sometimes don't explain the risks behind them.

[Maus0728]

Unpopular opinion though, I think if you are in the crypto space, learning how to efficiently use the google searchbar could potentially save you from this shitty scams lurking on the internet.

Using a simple search like <name of project/company + scam:reddit/quora/bitcointalk.org>, will give you enough hints to know if the project has growth or exit scam potential. I mean, you're entrusting your money to a platform, and it's your job as an investor to conduct a thorough background investigation on the company/services you'll be using.

Lastly, bitcoin itself is not a scam, it's just that there a large number of bad actors existing in a decentralised financial system.

[mk4]

In general, yea. But also take note that the cryptocurrency space shouldn't necessarily be the place for everyone to take risks. Some people are simply better off starting a typical brick and mortar business because not everyone is technical enough to take cryptocurrency bets.

[cabron]

Its less risky with BTC as long as you are advised to hold. Worrying that the value will continuously drop to zero is not possible so an newbie investor will just have to wait which is also the hard part. Its the altcoins that you will have to worry much but like you said NO RISK, NO REWARDS.

You might often read it here in the forum because they always say this, "Never invest money that you can't afford to lose."
Blaming a friend for the loss will make you lose a friend so if you follow the advise, just relax.

[crwth]

Maybe the way he wanted to earn the past few years ago was not the right way to earn, like how they plan to make it, maybe like doublers or something that makes it feel like you will profit a lot without doing anything much.

But that's just the problem when getting into cryptocurrencies without much knowledge or learning what you could do with it in general. Imagine being able to transfer to anyone in the world, and you only need a string of texts/numbers, and you would be able to do it P2P, with no middlemen. I started to understand that this would revolutionize financing, and it did.

So with that in mind, you would be able to see its as a "non-scam" thing; it's the people who have that "intent" on scamming people with their hard-earned money. It's not because of the technology, but because of the people using it for evil things.

When you are researching a thing and make sure that it's from credible sources, you will be able to capitalize on what is in front of you.

[Pterosaur]

It's good you haven't given up even after the first failure, now that you have personally developed an interest in crypto it's better to relax and take your time to study it yourself, I don't like the idea of someone investing for me when we both have a single head, stand up and fall was how life began when you fall just stand again.

[cryptoaddictchie]

This is a typical statement of no risk no reward. Everyone is quite familiar with it but taking risk must also be accompanied with smart move or action. There are plenty of risk takers on degen, and somehow they lose some money cause they arent aware how it works or didnt review carefully. If you gonna take a risk make sure you are at least confident with the investment or project your betting with.

[passwordnow]

Risk in investing and being scammed are separate things. Although both of you have learned that scam is also existing in crypto but the second time both of you continued. This made both of you aware of these scams and now you have the idea on how to avoid them. It's true that there's no gain if you won't risk anything. But in crypto, it's risky to have no idea of what you've been doing. You're attracting not just the risk of the market's volatility but as well as the risk from scammers if they've seen and known you that you have no knowledge and understanding about it.

[Dunamisx]

I was shocked when he later came to me that we have been scammed, the he had trusted to teach him and put him through have duped him.

This is so disheartening that you both fall on the wrong hand, we many occasions where this was trace to people trusting who they are that familiar with, someone that just meet on an occasional basis and believe in whatsoever thing they said and no where to trace and find them, possibly you just have their contact which can cease to function after you're being scammed, i also dislike this category of people who don't know it and will give you all the go ahead to help them do it without them interested in seeking to know how its been done.

Why must you limit yourself to a particular skill you could just learn and help your career, my advice is to always get someone you're acquainted to and confined your trust with, who can put you through for you to be independent and while doing that, you also have to help yourself in making more research in attestation to what you're learning is accurate.

Despite all we both experienced, my friend didn't give up, he still went ahead to invest again in Cryptocurrency (Bitcoin). Luckily this time he had a different experience because he started to make it in Cryptcurrency, he had start making profit on his investment.

Let me assume that thks time you didn't invest in shitcoins possibly as you have done in the past because you specifically bracket bitcoin in front of the cryptocurrency, i also want to believe that your friend is back on track after he had acquired a certain level of knowledge in bitcoin and cryptocurrency at large before deciding by going with bitcoin and this time as well, he goes all by himself and not through the first person he used.
Lesson: what you don't know will cost you more than it will pay you.

[examplens]

My first experience with Cryptocurrency made me zero my mind of it, which I later realised was a very terrible mistake. Some years ago a friend spoke to me about Cryptocurrency, how we can invest in it and make profit, he had the idea about Cryptocurrency, I have the money to invest it. I was shocked when he later came to me that we have been scammed, the he had trusted to teach him and put him through have duped him.

From then, whenever I hear about Cryptocurrency, I always say it's a scam and I was really angry with my friend.

obviously, you got something mixed up here. If an "investment opportunity" accepts Bitcoin as a method of payment and payment of potential profits, it is not a necessary investment in crypto. you will certainly not blame the US dollar and the US government if you were deceived by a prince from Nigeria.
you don't even know what exactly you invested it in, but you put a barrier in front of cryptocurrencies. You are starting to learn on your own and that is a good step, I hope you now understand the previous mistakes better.

[erep]

You have a relationship that does not have good project analysis skills, he needs financial support from you to invest in a low-reputation project until it ends up being a scam. The second attempt, your friend tries his luck on Bitcoin investment then increases until he reaches a profit to tell you. If you met me from the start, then I advise you to invest in BTC over top altcoins even for new altcoins.

NO RISK, NO REWARD

So that's not the point of all this discussion, no one is risking investing in risky projects especially if you don't have any fundamental knowledge about crypto investing. You must have investment knowledge beforehand and be wiser in deciding to invest in the right coins.

[GeorgeJohn]

This is a typical statement of no risk no reward. Everyone is quite familiar with it but taking risk must also be accompanied with smart move or action. There are plenty of risk takers on degen, and somehow they lose some money cause they arent aware how it works or didnt review carefully. If you gonna take a risk make sure you are at least confident with the investment or project your betting with.

The terms is familiar to everyone " yes i concord on that" but the problem is that some of use misunderstood the fact, no risk no reaward is making some people to lose their finance in the name of taking risk, but it's very obvious that a risk taker who propagate during investment, has already microscopic and make an intelligent research of the project before venturing into it, is not every project you can take risk of, because it has become obvious that before someone achieve success in cryptocurrency sphere you most take risk...the newbies who are new into cryptocurrency investment take such languages as a priority or constant scenario.

[Findingnemo]

Better late than never so even today is good for long term investment on Bitcoin.

Even I have the story which made me a billionaire now because I had opportunity to buy few hundred thousands of bitcoin in 2014 if I am not wrong but I made wrong investment on other business which completely went bankrupt.