Know your limit

[akuntester1]

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

If you do this weekly or monthly you won't feel any pressure, always remember that health is wealth.

Taking big risks sometimes will bring big profits too if the calculations are right and accompanied by luck.
But I think what your friend did was purely blinded by greed.
People who take high risks are likely to still have a backup plan if the decision fails to reach.
I don't know or maybe your friend is in a very depressed mental state so just put all the money in and apply for a loan to invest in Bitcoin like that.
Forgive me in advance, I don't mean to insult or condescending your friend OP.
I will use this again and again to remind myself to be able to manage my emotions, make clear plans and not be blinded by greed when investing in crypto.
You are a good person OP, you take care of your friends like your own siblings.

[Fatunad]

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

If you do this weekly or monthly you won't feel any pressure, always remember that health is wealth.

Taking big risks sometimes will bring big profits too if the calculations are right and accompanied by luck.
But I think what your friend did was purely blinded by greed.
People who take high risks are likely to still have a backup plan if the decision fails to reach.
I don't know or maybe your friend is in a very depressed mental state so just put all the money in and apply for a loan to invest in Bitcoin like that.
Forgive me in advance, I don't mean to insult or condescending your friend OP.
I will use this again and again to remind myself to be able to manage my emotions, make clear plans and not be blinded by greed when investing in crypto.
You are a good person OP, you take care of your friends like your own siblings.

Rewards would always reflect out on how much you had risks out and we know that each person does have their own level of risk taking.It is really just true that you would be needing to set up limitations on whatever you are dealing with specially if in talks of money or investment. Always set out limits and border line on which you could only afford to lose. There's no assurance on making profits here on crypto space.
It is really just that there are people who arent really just good on their emotions and this is why they do really end up impulsive when it comes into their decisions.

[Charmekkd]

Indeed, around us, sometimes there are always people like that, namely investing with capital from loans, which of course is not a profit that can be obtained, but a loss that can be obtained.

Your post is an example for us so that we don't follow in the footsteps of your friend you who is too hasty in taking action to invest even though the investment must be with idle capital so that it is more comfortable when investing.

but you are very kind because you have helped your friend who is sad ... don't forget you have to remind him so he doesn't make mistakes again like he did.

[Bazzu]

Yes, this is an example for people who invest using borrowed money, because after all, the borrowed money will not be comfortable to use either.
but I suggest to you OP to cheer up your friend so he gets excited again, and make an example of what happened for him so he doesn't repeat it again.

Indeed, many investments with money from loans have succeeded, but many have failed.

[Fara Chan]

Some people don't understand what exactly is said about Investing in Crypto, but what your friend is doing is not a wise move, using all the money and including a loan in investing in Crypto this is a bad job and even very ineffective to do, we can said he is greedy here, this is one very bad example in Crypto investment, I think your friend does not fully understand the words that people often say "What investment will you be able to afford to lose" in the sense of being prepared to lose in the event of a crash or error .

When you are a complete noob and seen someone who do make huge or lots of profits then you would definitely doing the next move;

1. Tend to buy some crypto
2. Trade immediately or Invest
3. Going all in
4. Believing and waiting that they could be rich overnight.

This is the primary or common mistake when we are still a noob but sooner or later you would realize on whats the real deal within this market.

Yes of course that kind of thing will happen, when you see someone succeeding in their work people will tend to do it, especially in this crypto section, so many people flock to have crypto assets and are looking for more here, but behind all this of course there are those who follow him by having bad ambitions for the future, in the sense that they are greedy to have them so that they believe they will be rich in an instant, this includes bad ambitions.

Indeed, around us, sometimes there are always people like that, namely investing with capital from loans, which of course is not a profit that can be obtained, but a loss that can be obtained.

Those who jump into the world of cryptocurrencies to invest using loans, I think this is not very good, what I understand about this is that they are just in a state of uncertain ambition, they even forget what it means to fully invest in cryptocurrencies, using a loan to invest is divided into two, the first is that it is likely that he will find it difficult to repay the loan, and if it succeeds, it will benefit him imperfectly, but this is very risky compared to investments made by people in general.

[FanEagle]

I agree that learning from your past mistakes and not repeating them is the only way to move forward. If you make a mistake and move away from it and never try again, then you didn't actually profited from that loss, it is just a pure loss and it's a bad thing.

In order to make that count for something, you should be aware of the situation you were in, why you made a loss, and try again while not making the same mistake again. This way, at least your mistake didn't go for waste, you did it once and if you don't repeat it then it's a good thing for your future, you could recoup that loss and do better. That's at least what I believe should be the path moving forward better.

[borovichok]

I agree that learning from your past mistakes and not repeating them is the only way to move forward. If you make a mistake and move away from it and never try again, then you didn't actually profited from that loss, it is just a pure loss and it's a bad thing.

In order to make that count for something, you should be aware of the situation you were in, why you made a loss, and try again while not making the same mistake again. This way, at least your mistake didn't go for waste, you did it once and if you don't repeat it then it's a good thing for your future, you could recoup that loss and do better. That's at least what I believe should be the path moving forward better.

By understanding the factors that led to loss and the solutions intended to prevent such errors, one can minimize errors to their lowest rate possible. Creating sound strategies to expand in terms of handling projects, identifying the road maps for each project prior to investment or effective implementation. Although if mistakes are unavoidable, there is always an opportunity to learn from them and become stronger than before. The past hurts, especially when one loses significant assets due to bear season, therefore it's important to compare your mistakes to the present in order to make improvements and the potential for greater earnings.

[danadc]

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

If you do this weekly or monthly you won't feel any pressure, always remember that health is wealth.

The thing is I think he invested in a scam, I mean in an MLM where they promise him that in small span of time his money maybe in bitcoin type will increase maybe about 2x or 3x, some other people who are new to crypto still believes in this thing, I wonder why he didn't ask you before. And I think the only way 6ou may able to help him is teach him that not all projects, ads or investments using the word bitcoin is true and he will get things so quick. It is kinda hard to be in that situation but eventually he will pass through it.

We don't need to know if OP's friend invested in bitcoin or a scam MLM project, but we shouldn't invest with all our savings either. Even if it is bitcoin, it is no guarantee that his money will not be lost, bitcoin is also risky. OP's reminder is very true no matter where we invest but never invest all your money, it is wrong and not recommended.

It is a pity that things went wrong for having lent and not having been able to pay on time, but the mistake was that he said he was going to pay in 1 month and that was very bad, if he is going to pay money The market should not be trusted due to such high volatility. The best thing would have been to have established a loan with better payment options in installments. Payments in weekly installments are a better option so as not to allow all the money to accumulate for one payment, if establishes a weekly payment forces the person to have to look for payment in any way so as not to fail.

[n0ne]

As every form of investment, bitcoin too have the risks associated with it. Apart, it is the volatility and the working mechanism makes the market highly riskier than the traditional forms of investment. Next thing with stock market users have better knowledge and they easily predict the growth pattern of the market. This isn't possible with bitcoin. Likewise many factors keep bitcoin aside from the traditional market. For that reason it is really a must to learn before making your footsteps into bitcoin.

[RenaldoCusmano]

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

If you do this weekly or monthly you won't feel any pressure, always remember that health is wealth.

You don't have to lend him money, and you're not accountable for his conduct. You could also think of them as lost if you do that. You cautioned him against blowing through his savings and getting a loan, but he opted to disregard your advice. I'm confident that your acquaintance is not the only one who has gotten himself into such a predicament because we've already seen a lot of discussions discussing if taking out a loan to acquire Bitcoin is a good idea or not. Never invest more money than you can afford to lose, and never assume anything. You might lose your job, be forced to take a reduction in pay, have your paycheck delayed, or go through anything else you can't currently fathom.

[nullama]

As every form of investment, bitcoin too have the risks associated with it. Apart, it is the volatility and the working mechanism makes the market highly riskier than the traditional forms of investment. Next thing with stock market users have better knowledge and they easily predict the growth pattern of the market. This isn't possible with bitcoin. Likewise many factors keep bitcoin aside from the traditional market. For that reason it is really a must to learn before making your footsteps into bitcoin.

At the end of the day Bitcoin is simply a savings account, with the added benefit that there's no inflation affecting it.

So, instead of worrying too much about the price, it's probably a good idea to just save in Bitcoin for the long term.