Excessive greed is detrimental to investment

[jaberwock]

Shitcoins? To be honest, I never thought of profit when I heard about shitcoin. I don't deny that there are indeed shitcoins that will provide benefits. But the percentage may be 1 in 100 or higher than that. A lot of the shitcoin projects I've come across have ended horribly, and only a few have provided investors with profits and those only lasted for a short time. For beginners I would not recommend them to invest in shitcoin, in my opinion it's the same as plunging them.

There are way too many people that way. Look into all the coins and tokens that have 10 million dollars or less marketcap, and look into their groups and you will see that there are tens of thousands of people from all around the world that are looking to make some sort of profit with the shitcoins they are shilling.

Obviously it is not going to happen that easily, but that doesn't mean that it would be a smart decision at all, it would be basically one in a million chance and they are looking to be that one in a million, but they think they have like one in a hundred chance not realizing the insane amount of risk they are taking out of nowhere.

That's mainly some people made profit and they were louder than the thousands that didn't. Obviously some people got lucky and bought some tokens and then it did 100x or even more and they got super rich thanks to that, and some of those people were insane and put thousands into it, which turned into millions.

This is why I highly suggest people to not follow twitter influencers because it definitely looked like a big deal to many people at the time when they saw these returns, but what they didn't see was there were thousands losing their entire savings while a few people made these profits. So those examples made people think it was possible, but made them forget the odds.

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[ivankoh]

Basically, greed is already a bad virtue, excessive greed will only get worse. It adversely affects human nature, not only in investment, it makes people easy to change by greed, selfishness, ambition and has the ability to make people become cruel and cruel. Every problem has two sides - and the consequences of greed are manifold. "Be greedy when others are fearful and fearful when others are greedy" - Warren Buffett.
In investing, excessive greed makes people want to achieve more, higher but lose their sanity. Anyway, greed is sometimes good, but it is also very dangerous.

[jacafbiz]

Everyone is greedy but most people see this from the wrong angle, those Shibainu guys, that turned a few quid into millions, are greedy? those that hold on to BTC for years before selling are they greedy? Greed is good but you need to believe that the coins or the tokens that you are holding are the next big thing, this is why you need to do your own research and stop waiting for these influencers to spoon-feed you because they are there to dump on you. I still believe there are still many 10X, 20x, 50X, and 100x in the space currently but you need to find them and research them, hold them with strong conviction not all of them will survive but if you find 10 gems, and invested $100 into each that makes it $1000 investment and just 2 of the 10 gives 2x, you have 2X your investment and some will dump but most will do 2X at least. The most important thing is to have a goal, if it is 10X you want from your investment take profit and let the rest run, this is very important pay yourself

[FanEagle]

Having an understanding of what bitcoin could do for you is not an excessive greed. You could hold it longer than you should, you could ignore the 60k+ price and keep holding it, while it goes down to under 20k and people could say you made a mistake, but when the time comes you will be the one laughing with all of your money.

Sure, if you were good enough trader to pick the top and pick the bottom and keep trading that way you would be rich, but you could make a mistake while doing that, you could sell or buy at wrong prices, what if you saw it go from 10k to 40k and sold? then it goes to 68k? Or what if you buy when it goes down to 35k and it goes to 16k? Holding is the better version of all of this.

[errorcode99]

It's okay to be greedy as long as you still have some logic in your investment decisions, if your greed actually gets to you causing you to miss so many opportunities. generate good returns just because you think their value might increase more than your greed will actually bankrupt you.

[SUPERSAIAN]

There are tough times for crypto investors. There are those who lost all of their investments. I think 14k usd has been a very good experience, at least you still have assets. If it's money you forgot, there is a possibility that you will return to your old money when the time comes. But this is a little bit of the next rise time of your assets, how they will work, there are a lot of factors whether they can do good marketing.

[S3300]

There are tough times for crypto investors. There are those who lost all of their investments. I think 14k usd has been a very good experience, at least you still have assets. If it's money you forgot, there is a possibility that you will return to your old money when the time comes. But this is a little bit of the next rise time of your assets, how they will work, there are a lot of factors whether they can do good marketing.

The problem I can see now is the survival of these tokens that OP is holding, will they survive through this bear market? That is the most worrisome question, PYR is doing fine but I am not sure of other projects like Myidenitity coin and the other, if I am OP I would sell and reinvest in the better projects, he can make more than that 14k in a bullish market.

[raidarksword]

We have a same faith towards crypto investments and due to greed I did not make profit from the last crypto bull market 2021 until it crashed down and it go down with my investment as well. I hold too much that's why my portfolio is down 90 percent and al I have to do is to wait for another bull cycle so that I can get my investment back or even take a little profit from it. I learned a lesson that always take a profit and always be contented no matter what may profit, big or small.

[FairUser]

We have a same faith towards crypto investments and due to greed I did not make profit from the last crypto bull market 2021 until it crashed down and it go down with my investment as well. I hold too much that's why my portfolio is down 90 percent and al I have to do is to wait for another bull cycle so that I can get my investment back or even take a little profit from it. I learned a lesson that always take a profit and always be contented no matter what may profit, big or small.

Lessons for those who are new to the market when they are inexperienced to control assets to avoid more losses. I see that it is not only you, but in the past because I was too greedy to be engrossed in ICOs because of my belief in profit, I have lost a lot, but failure will make us stronger anyway. And hopefully you will also see the market movements later but that, and build yourself a good strategy, never fomo follow someone but always do your own research, and be satisfied with the results goals you set out earlier.

[JayTrain]

Your experience highlights an important lesson for anyone investing in cryptocurrency: it's important to do your research and avoid being driven solely by greed or fear of missing out. While it's certainly possible to make money in the cryptocurrency market, it's also highly volatile and subject to rapid changes in value.

In order to minimize your risk and increase your chances of success, it's important to approach cryptocurrency investing with a long-term perspective and a diversified portfolio. This means carefully researching each coin or token before investing, keeping up with market trends and news, and avoiding the temptation to make impulsive decisions based on short-term gains or losses.

By staying informed, being patient, and avoiding excessive greed or fear, you can increase your chances of achieving long-term success in the exciting and ever-changing world of cryptocurrency