Another warning for every NEWBIE!

[GeorgeJohn]

All of those reminders are on point.

The current most hot issue about Luna and UST have thought these lessons to those who lost a lot of money including their life savings. Saw some investors who have borrowed money just to invest in Luna alone.

We are not suppose to criticize or laugh at them, even though they did not use their spell money to invest in Luna coin. Many other coins has done what Luna did. The thing is that nobody knows the project that will yield positively before concluding to run investment with a lot of capital, the things i seen that caused this massive lost via new adoption projects, is inability of the investors to research and know the potentiality of the project before investing for long term investment. And in this case of investing via newly launched coin you most not use borrow capital, because of the risk involve on it, because the project never build it's reputation or trust.

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[khaled0111]

The funny thing (but a bit sad at the same time) is that many people, including experienced investors/traders, didn't learn the lesson from the recent crash of Luna. I saw many of them rushing to buy more of it just after binance relisted it although it's price dropped by more than 99% and it's almost a dead coin.
However, I don't totally agree with you on the first advice about not investing from your savings. Sometimes, you have to take risks to make profit.

[Mpamaegbu]

I saw a post online in our local group about money investing and he shared his experience their about losing all his life saving money because of $LUNA investment, this is very heart breaking and that guy really want to end his life which I hope he wont do it.

Cryptos isn't for sissies and weaklings. It's for men with heart of steel. Even the caveat of not investing money you can't afford to lose euphemistically reveals that. So, if anyone comes baby crying that they lost all in crypto and think that suicide is their best way out I will hand them a noose. They think crypto is a get rich quick scheme and they want to breeze in and then walk out with a loaded briefcase with cash.

Well, the points in your advice are notable and correct. However, dragging in just Luna alone as a scapegoat into your post makes it look personal. There are several other altcoins which will soon follow the way of Luna in time to come. It's the pattern in crypto. Newbies should invest more in Bitcoin than alts. It's not as if Bitcoin doesn't dump. It's just that it's the only one sure to rise whenever that dip happens.

[Masplanc]

The funny thing (but a bit sad at the same time) is that many people, including experienced investors/traders, didn't learn the lesson from the recent crash of Luna. I saw many of them rushing to buy more of it just after binance relisted it although it's price dropped by more than 99% and it's almost a dead coin.
However, I don't totally agree with you on the first advice about not investing from your savings. Sometimes, you have to take risks to make profit.

This will be tough for those who used all they had in this coins, it is good to buy smaller amount of coins that are not too reliable because most of all this shit coin when ever the market bearish such lost value.  The best thing is to buy will small amount just to observe how valuable the coin will be.

[AnotherAlt]

The funny thing (but a bit sad at the same time) is that many people, including experienced investors/traders, didn't learn the lesson from the recent crash of Luna. I saw many of them rushing to buy more of it just after binance relisted it although it's price dropped by more than 99% and it's almost a dead coin.
However, I don't totally agree with you on the first advice about not investing from your savings. Sometimes, you have to take risks to make profit.

People becomes confused when influencers incurge them to invest on shitcoins. I know a youtube channel named Fomotion and Fomotion HQ. This guy release videos every weeks with no research, no fundamentals. You will understand what I mean if you visit his youtube channel.

[Dunamisx]

The funny thing (but a bit sad at the same time) is that many people, including experienced investors/traders, didn't learn the lesson from the recent crash of Luna. I saw many of them rushing to buy more of it just after binance relisted it although it's price dropped by more than 99% and it's almost a dead coin.

many people tend to gorget that the principle of buy more on dip is only applicable to bitcoin and does not work for other cryptocurrencies, as the coin begin to fall and keep falling should have signal a warning to them since its not bitcoin, once an unrealistic altcoin falls it find it difficult to rise back, because then their real identity as shitcoin got revealed, it is good to take risk but it is unwise enough to seek such opportunity from what doesn't really worth it.

[Vaculin]

I know most of us here already knew what happened to $LUNA but for the sake of beginners, I want to reiterate and give a warning about investing and going all in on this market.

I saw a post online in our local group about money investing and he shared his experience their about losing all his life saving money because of $LUNA investment, this is very heart breaking and that guy really want to end his life which I hope he wont do it. This is why I want to list some of the reminders about crypto investment and I hope every beginners here won't do the same mistake.

CRYPTO INVESTING - SHORT REMINDER

1. DON'T USE YOUR SAVINGS FOR YOUR INVESTMENT ACTIVITIES - Use your separate funds if you are going to invest on any market and make sure that you are ready to lose that money because investing is not a guaranteed way to make profit, so have some funds for this.

2. DON'T BORROW MONEY - Many still do the same mistake like this and when the market turns to negative, they are also drowning and the situation will get worst simply because they use the money which is not them. If you want to become profitable, save for your capital first.

3. DON'T BE GREEDY - If you already lose money, you should stop for a while and study again so you can know what's wrong with your strategy and start analyzing again so you can do better next time.


This is just a short reminder since I want to highlights the important things you need to know before investing.
There's a lot of news about suicide incidents because of losing money on their investments, and I don't want you to ended up on the same path so please do your own research first and again invest only what you can afford to lose.

These are considered the basics when it comes to making investments but still most of the newbies fall for it. Maybe because they don't see theirselves as long term hodlers but they are more on seeing crypto as a get-rich-quick scheme. The reason why they tend to be more aggressive and end up falling for their mistakes and lose their funds. The fate of Luna was totally unexpected, and we can't afford bitcoin to end up that way too. So as much as possible, invest with caution and never fall for wrong dispositions in life.

[JangoUnchained]

Borrowing money for investment has it's advantages and also greedy isn't that evil like many are saying, been greedy at the right time can yield insane reward, being greedy when others are fearful is the best move in crypto space, that's the time you want to be buying.

[mm2543363580]

Borrowing money for investment has it's advantages and also greedy isn't that evil like many are saying, been greedy at the right time can yield insane reward, being greedy when others are fearful is the best move in crypto space, that's the time you want to be buying.

Unnecessary borrowing is trouble. Inviting trouble unattended can bring in so much demons along.
I like all the points mentioned in OP - stay contented and keep your saving saved.  Greed and lust in one of the deadly sins. So be aware.

[Masplanc]

2. DON'T BORROW MONEY - Many still do the same mistake like this and when the market turns to negative, they are also drowning and the situation will get worst simply because they use the money which is not them. If you want to become profitable, save for your capital first.

Borrowing money can be the worst mistakes in cryptocurrency  that anyone one can make.  Borrowing money to invest in cryptocurrency should be one of things no one should make attempt to do. Invest with all the money that one has is so risky,  then think of Borrowing money from some where else to invest how risky it will . It is better never to trade ot invest when their is no money than to borrow. .

[maydna]

Borrowing money for investment has it's advantages and also greedy isn't that evil like many are saying, been greedy at the right time can yield insane reward, being greedy when others are fearful is the best move in crypto space, that's the time you want to be buying.

Borrowing money for investment is not recommended, especially if we do not have income that we can use to pay off the loan. That can make it difficult for us later and increase the risk to be even greater if our investment cannot increase in a short time. Investing in crypto is not necessarily profitable in 1 or 2 years because it depends on the existing market conditions and situations. We have seen what happened in the last 6 months, and now, the crypto market is going through uncertain times, which can make us worry if the value of our investment will go up or down. We really need to think again if we want to borrow money.

[TreyARC]

I've lost a lot of money that whenever I share the details with a few friends they said they would take their life if it happened to them, taking my own life because of money is stupidity, I could get angry and make sure such mistake don't repeat itself but taking my life is nonsense, if you are the type that can tale his or her own life easily when they lose money crypto is not for you.

[Zilon]

1. DON'T USE YOUR SAVINGS FOR YOUR INVESTMENT ACTIVITIES - Use your separate funds if you are going to invest on any market and make sure that you are ready to lose that money because investing is not a guaranteed way to make profit, so have some funds for this.

Separate fund is a subset of your savings. To be on a safer side before investing in altcoins which are completely centralized holding for too long should be avoided same with buying when the price is high

2. DON'T BORROW MONEY - Many still do the same mistake like this and when the market turns to negative, they are also drowning and the situation will get worst simply because they use the money which is not them. If you want to become profitable, save for your capital first.

It is only an unsatisfiable investor that will go as far as lending funds to invest. This is what will trigger suicide the most when the project fails and crashes.

3. DON'T BE GREEDY - If you already lose money, you should stop for a while and study again so you can know what's wrong with your strategy and start analyzing again so you can do better next time.

evaluating the market should be regular habit both for losing and winning investment. An investor should be a habitual study and research freak. It is only when lack of knowledge triggers investment that greed sets in. A good strategy is a product of constant study

[Queentoshi]

1. DON'T USE YOUR SAVINGS FOR YOUR INVESTMENT ACTIVITIES -

I'm a bit confused, of what purpose is my savings if I can't seek to invest with it. Should you not be saying that it is better not to invest with all our savings rather than saying we shouldn't invest with our savings at all. Some do not have any other money to invest with in the bid to better their life other than a percentage of their savings. From my perspective, if you must invest from your savings, it should be as everyone says, a percentage that you can afford to loose.

[Davidvictorson]

1. DON'T USE YOUR SAVINGS FOR YOUR INVESTMENT ACTIVITIES - Use your separate funds if you are going to invest on any market and make sure that you are ready to lose that money because investing is not a guaranteed way to make profit, so have some funds for this.

A proper understanding of the project is one the very first steps every newbie must take before they decide to invest whatever money they have saved up into any project. They must have done their homework(thorough analysis) because most newbies have the tendency to speculate or even gamble with their money thinking that the project will go "to the moon". In addition, they should ensure that they have in place a financial plan and the discipline to stick with it in the long run.

[Zlantann]

One of the major challenges we have currently globally is the relegation of patience and the elevation of get-rich-quick mentality. In my country every youth want to buy the latest Mercedes or BMW. Every investment that entices with extravagant profit attracts a lot of young investors. They invest because of greed and impatience. That is why new ponzi schemes are created everyday and people are falling victims. For me I prefer to keep investing my extra money in Bitcoin and wait patiently until my time for harvest comes. I am not saying that Bitcoin is the best investment but it has all the qualities of an enduring and reliable investment.

[Doan9269]

All of those reminders are on point.

The current most hot issue about Luna and UST have thought these lessons to those who lost a lot of money including their life savings. Saw some investors who have borrowed money just to invest in Luna alone.

We are not suppose to criticize or laugh at them, even though they did not use their spell money to invest in Luna coin. Many other coins has done what Luna did. The thing is that nobody knows the project that will yield positively before concluding to run investment with a lot of capital, the things i seen that caused this massive lost via new adoption projects, is inability of the investors to research and know the potentiality of the project before investing for long term investment. And in this case of investing via newly launched coin you most not use borrow capital, because of the risk involve on it, because the project never build it's reputation or trust.

i really got your point right here but do you know that one cannot over smart those guyz out there behind any project, they go far to an extent to satisfy all your possible research aspect just to satisfy you doubts but yet they have bad intention hidden, you can only make research on what they put online but can we truly read their minda? they will go along way to pump hype, views, rate, market cap, vol. and reviews as part of their manipulations, they will even pump funds beyond reasonable doubts, am not saying that making a research is not advisable but that does not solve the whole problem, just in the case of Luna, i so much believed many have concluded on their extent of research to be satisfactory before this happened, now its setting in another second wave, yet many will still go for it, taking risk is the whole talks in altcoins which doesn't really worth it.

[mm2543363580]

All of those reminders are on point.

The current most hot issue about Luna and UST have thought these lessons to those who lost a lot of money including their life savings. Saw some investors who have borrowed money just to invest in Luna alone.

We are not suppose to criticize or laugh at them, even though they did not use their spell money to invest in Luna coin. Many other coins has done what Luna did. The thing is that nobody knows the project that will yield positively before concluding to run investment with a lot of capital, the things i seen that caused this massive lost via new adoption projects, is inability of the investors to research and know the potentiality of the project before investing for long term investment. And in this case of investing via newly launched coin you most not use borrow capital, because of the risk involve on it, because the project never build it's reputation or trust.

i really got your point right here but do you know that one cannot over smart those guyz out there behind any project, they go far to an extent to satisfy all your possible research aspect just to satisfy you doubts but yet they have bad intention hidden, you can only make research on what they put online but can we truly read their minda? they will go along way to pump hype, views, rate, market cap, vol. and reviews as part of their manipulations, they will even pump funds beyond reasonable doubts, am not saying that making a research is not advisable but that does not solve the whole problem, just in the case of Luna, i so much believed many have concluded on their extent of research to be satisfactory before this happened, now its setting in another second wave, yet many will still go for it, taking risk is the whole talks in altcoins which doesn't really worth it.

In our society - people are very overconfident, if they get a little knowledge they think they have got all the skills to master the work.
This overconfidence is a killing attitude. One should always has a guide or master to seek help and learn and master an art in which they are diving.
Very sorry for the losses made due to overconfidence.

[GeorgeJohn]

just in the case of Luna, i so much believed many have concluded on their extent of research to be satisfactory before this happened, now its setting in another second wave, yet many will still go for it, taking risk is the whole talks in altcoins which doesn't really worth it.

If they have perform research via Luna they would have comprehend it's volatility before investing in them, actually risk ia real provided that cryptocurrency remain in existence, I'm not condemning the fact of investing with cryptocurrency especially in altcoins, but before investing in any altcoins a proper research have to be done perfectly to avoid investment funds not to be useless or waste. Investment is good for coin that is propagating by having a support.

[Scripture]

just in the case of Luna, i so much believed many have concluded on their extent of research to be satisfactory before this happened, now its setting in another second wave, yet many will still go for it, taking risk is the whole talks in altcoins which doesn't really worth it.

If they have perform research via Luna they would have comprehend it's volatility before investing in them, actually risk ia real provided that cryptocurrency remain in existence, I'm not condemning the fact of investing with cryptocurrency especially in altcoins, but before investing in any altcoins a proper research have to be done perfectly to avoid investment funds not to be useless or waste. Investment is good for coin that is propagating by having a support.

Most probably they get hyped when you are invest carelessly, you might ended up on a project like this though no one expect the value of LUNA to be totally like this, this is indeed unpredictable. Look at the fork right now, if you are still buying this project better to analyze again your portfolio because it may not healthy anymore especially the new LUNA, too risky to buy. This is a warning for everyone, and you can also apply this to other project.