Why Crypto may go wrong for some people

[Obari]

CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

Funny enough, one of the most lazy jobs to do, is crypto investment  because it doesn't actually require any physical  strength but rather mental smartness and I will rather say that crypto investment is fir the smart ones because I've seen people who are seen and known as lazy also succeeding very fine in cryptocurrency industry.
I'm sure you already known that every investor's expectations is to make profit and when the profit  isn't coming, there are greater chances of such a person giving up easily especially  when the profits are already outweighed by the losses.

I've always been on the opinion that it is necessary  to have money while embarking on a crypto journey so as not to miss out of the better opportunities that comes with the season especially  when you Intend holding for a long while but that doesn't mean you should be reckless with the money you have while learning.

[landheer]

Investing in crypto is not an easy thing because investing in crypto requires extensive knowledge, so prior to investing in crypto knowledge must be prioritized because investing in crypto without priority knowledge will certainly have the potential to experience losses and ultimately blame crypto even though it's not the wrong crypto but people who invest in crypto don't understand what crypto is and how to invest in crypto the right way.

[Bitcoin_people]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

Most people hear about crypto and wish to invest in it without the knowledge of how crypto works. It is a good practice for one to learn the do and don't of whatsoever you want to put your money in. Why dealing with crypto as if you are gambling? You need to learn to earn with crypto. You gamble with crypto when you invest without adequate research and knowledge of what token/coin you are investing on.

CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

If your friend invested in a crypto coin that was identified as a scam. If faced with such a scam, he may have lost thousands of dollars. But I totally disagree with the argument he gave you because crypto has nothing to do with gambling. Gambling is basically a casino platform where people place bets to win their prizes and investments are held for a long time. But your friend may not understand investment or trading very well for which he lost all his money. Before investing a person must know good research and follow various aspects about the market and gain experience. I also agree with you that lazy people can never invest profitably, hard work and patience are important to be profitable.

[puloweh555]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

Most people hear about crypto and wish to invest in it without the knowledge of how crypto works. It is a good practice for one to learn the do and don't of whatsoever you want to put your money in. Why dealing with crypto as if you are gambling? You need to learn to earn with crypto. You gamble with crypto when you invest without adequate research and knowledge of what token/coin you are investing on.

CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

I think the main mistake of your friend is the lack of basic understanding of the way the project is running so he suffered a loss. He should have been more careful when investing in tokens. So many are disappointed investing in tokens, altcoins, and NFT that ultimately have no value anymore. because this project is popping up a lot, if we are not good at analyzing it is better to stay away. There are still many altcoins that are great assets to invest in safely, but even safer should your friends invest in bitcoins because this is a very wise choice.

But whatever it is, actually when we experience a loss it also has a good impact on us, because later we will be more aware when we want to do something for investment.

To be honest, I have lost from investing in altcoins and the amount is not bad for me, even though I don't like your friend's story it makes me more aware of how to manage money, and I believe that when we experience losses, the mindset can change, and when we hope for something big, the consequences are also big. Experience is created from failure but how do we take advantage of that failure not to fall a second time?

[mirakal]

Because not all people have the same faith when it comes to crypto. Some are just trying their luck and greed, and expect instant profits but when crypto fail them, they all end up accusing bitcoin as a big scam. While others have established faith in the first place, and continue to educate theirselves until they’re all ready to venture into bitcoin while expecting more losses at first but few gains. With this, we’ll know from their course of action who’s most likely to be successful and who’s not going to.

[kamvreto]

Because not all people have the same faith when it comes to crypto. Some are just trying their luck and greed, and expect instant profits but when crypto fail them, they all end up accusing bitcoin as a big scam. While others have established faith in the first place, and continue to educate theirselves until they’re all ready to venture into bitcoin while expecting more losses at first but few gains. With this, we’ll know from their course of action who’s most likely to be successful and who’s not going to.

It takes good initial knowledge about crypto so that those who think crypto is just a fraud can turn around and be interested in crypto. Ordinary people who try their luck with crypto and try to trade, but in the end it fails they don't really understand so when a loss is found they will say that crypto is not safe, full of risks etc. But for those who understand, of course crypto will provide benefits. In the end, those who succeed are those who believe in crypto and understand crypto. those who fail will make crypto a scapegoat that leads them to losses.

[Russlenat]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

Most people hear about crypto and wish to invest in it without the knowledge of how crypto works. It is a good practice for one to learn the do and don't of whatsoever you want to put your money in. Why dealing with crypto as if you are gambling? You need to learn to earn with crypto. You gamble with crypto when you invest without adequate research and knowledge of what token/coin you are investing on.

CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

The clear reason is that not all people have the same outlook on bitcoin. Some would only see it as short term profits and just here for investment purposes to satisfy their greed. However, for those who have deep understanding about bitcoin, they will always find ways to learn everything about bitcoin and value it’s utility case in the market. And when they’re ready to invest, they make sure that it will be a long term investment regardless if there will be inevitable losses along the way.

[Stable090]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

When you invest in token, then you might end up losing your money at the end, maybe your friend invested in shitcoin or altcoin which in you invest in shitcoin then your chances of losing money is really high. Lost of people have invested in altcoins before so after losing money they decided to tag cryptocurrency as a scam, but I do say most of those people are d cause of losing their money. If you are investing we should have it in mind that any altcoin investment is very risky and we have to be very careful when investing in it, if we are planning to invest, then the best thing we should do is just to invest in bitcoin. Any altcoin investment done is just like gambling, their is equal chances of winning and losing.

Most people hear about crypto and wish to invest in it without the knowledge of how crypto works. It is a good practice for one to learn the do and don't of whatsoever you want to put your money in.

Some people don’t care to learn about what they are going into, some of them are just too lazy to make research, and some are always depending on other people’s opinion (those are the once that are always giving signals, or the once that are always waiting for people to recommend the coin they will be investing in for them).

CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

You can’t just start and you will be expecting money, if you are a trader and you are a beginner, you will always lose money instead of making money, but you don’t have to give up, you have to continue putting your effort and with time you will start making money and you will forget all the money you have lost, and the things you went through.

[Rockstarguy]

Because not all people have the same faith when it comes to crypto. Some are just trying their luck and greed, and expect instant profits but when crypto fail them, they all end up accusing bitcoin as a big scam. While others have established faith in the first place, and continue to educate theirselves until they’re all ready to venture into bitcoin while expecting more losses at first but few gains. With this, we’ll know from their course of action who’s most likely to be successful and who’s not going to.

It takes good initial knowledge about crypto so that those who think crypto is just a fraud can turn around and be interested in crypto. Ordinary people who try their luck with crypto and try to trade, but in the end it fails they don't really understand so when a loss is found they will say that crypto is not safe, full of risks etc. But for those who understand, of course crypto will provide benefits. In the end, those who succeed are those who believe in crypto and understand crypto. those who fail will make crypto a scapegoat that leads them to losses.

The problem most beginners always have is that they fail to make research, thinking all cryptocurrency is the same as Bitcoin and some beginners don't even have time to make research to know whether the cryptocurrency they are investing is good to start with for invest.  Beginners are just interested in making money from crypto and don't care to know how reliable it is to invest. Investing in cryptocurrency is not just having money to start but to have the knowledge if one is in the right investment.

[Ayebabara]

Cryptocurrency goes to the wrong way when a user of the coin mismanaged the coins. And also the way you use it will also determine the success story in your life. There is no way you cryptocurrency for gambling and you will come and tell me that you didn't mismanaged you coins. And there is no way you spend your coins for women and you will come and tell me that you didn't mismanaged your coins. My brother there are many things that can at up one bitcoin or cryptocurrency career.

[CageMabok]

Cryptocurrency goes to the wrong way when a user of the coin mismanaged the coins. And also the way you use it will also determine the success story in your life. There is no way you cryptocurrency for gambling and you will come and tell me that you didn't mismanaged you coins. And there is no way you spend your coins for women and you will come and tell me that you didn't mismanaged your coins. My brother there are many things that can at up one bitcoin or cryptocurrency career.

It's quite simple to understand this, because those who use it incorrectly will always end badly and will not get any profit from the coin. I think there is no need to think about those who are wrong in using coins because there are many good ways that you can use to make a profit through the coins that we each have. This is about how it is used only, not about an acknowledgment from someone in how he used the coin to get nothing.

[_BlackStar]

-snip-

It's quite simple to understand this, because those who use it incorrectly will always end badly and will not get any profit from the coin. I think there is no need to think about those who are wrong in using coins because there are many good ways that you can use to make a profit through the coins that we each have. This is about how it is used only, not about an acknowledgment from someone in how he used the coin to get nothing.

Simply put - each holder is the one responsible for managing their holdings. It doesn't matter how they spend their coins - whether they spend them on gambling or on something unprofitable. But this is a crypto use case that shouldn't be argued - but one that will definitely hurt from an investment perspective.

An investment is an investment - meaning you should never spend your investment assets on something else without a urgent need. If you want to spend crypto for a real use case - then buy another and spend it.

[Eureka_07]

<snip>
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

The reason is that they do not know what crypto really is in the first place. Probably, because of the hype that they witnessed, they thought that all crypto are the same ... that they can invest to any token that they want then expect profit from it. It is similar to why some newbies gets scammed to frauds related to crypto.

[Smartvirus]

Anything isn't for lazy people, not only crypto.

When someone is lazy and don't want to learn before making the next move, they have a high chance for making a wrong step rather than the experienced and someone who already learn a lot.

Good thing pointing that out.

I’ll like to say, someone who happens to be experienced is one that has failed many times and one who isn’t is one that has some rough ride up front.
I wouldn’t say your friend @OP is the lazy type, nope. He just had a bad choice of investments to have picked altcoins for his crypto investments without doing any proper findings on it or having a high expectancy of a failed potent on altcoins.

One thing that remains real and is very disappointing when people don’t realize it is that, it’s not a get rich scheme and there are those that are bound to enrich the others in this system. It’s just how it works and you just have to try not yo be amongst those losing to others.

I pity your friend for running off and that might be the best for him @OP because, you truly shouldn’t go in huge on that which you know nothing about.

[Rengga Jati]

CONCLUSION
Crypto isn't for lazy people. It involves research and continuous learning. It may look bored if money isn't made in the first few months but will definitely make you smile after months of endurance.

In my opinion, it's like there's a misperception going on, that most people probably think that crypto is the way to bring success faster, can bring very high profits very quickly, as they see with many people who are successful in crypto. What's more, they are people who like instant things, who are easily deceived by anything that promises fast money to come to them, while they don't want to make more efforts to explore and understand it. So, once they fall, they will easily drop and be disappointed with inappropriate results. moreover, we see how big the newbies involved are being scammed by scammers, there are so many. This is because they do not equip themselves with sufficient knowledge. And they believe too much in new things that they don't understand but promise very high profits.

[Lida93]

For crying out loud why should a crypto beginner start with alternative coins? People that do well with alts are those that have gotten a mastering of the market having an understanding of the pump and dumps of alts and not some random beginner who can't equally deal with bitcoin that's With a moderate volatility that newbies can easily learn with. And when I said easily, I literally mean bitcoin is 5x safer for  beginners to invest on than alts.

Despite how safer BTC could be, it's still beckon on you to learn a lot more before investing big amount and from what is obtained from the character of some beginners, they want to come in and start earning immediately without going through the basics. You will always pay with your penny when you refuse to give to learning first. It's as simple as that.

[boyptc]

It's quite simple to understand this, because those who use it incorrectly will always end badly and will not get any profit from the coin. I think there is no need to think about those who are wrong in using coins because there are many good ways that you can use to make a profit through the coins that we each have. This is about how it is used only, not about an acknowledgment from someone in how he used the coin to get nothing.

Right.

You don't need to approval of anyone if you're going to do it correctly. Mismanaging is gonna be dependent to the person who's holding. And if you're wrong with that, you have to analyze your mistake because eventually you have no one to blame but yourself if these mistakes come out.

We don't want nothing from these investments and that's why if there are people that have been unsuccessful on this venture, there must be something wrong with their decisions.

[kamvreto]

Because not all people have the same faith when it comes to crypto. Some are just trying their luck and greed, and expect instant profits but when crypto fail them, they all end up accusing bitcoin as a big scam. While others have established faith in the first place, and continue to educate theirselves until they’re all ready to venture into bitcoin while expecting more losses at first but few gains. With this, we’ll know from their course of action who’s most likely to be successful and who’s not going to.

The problem most beginners always have is that they fail to make research, thinking all cryptocurrency is the same as Bitcoin and some beginners don't even have time to make research to know whether the cryptocurrency they are investing is good to start with for invest.  Beginners are just interested in making money from crypto and don't care to know how reliable it is to invest. Investing in cryptocurrency is not just having money to start but to have the knowledge if one is in the right investment.

They only think about results, not a process or what could be the trigger to be able to produce. found the fact that many beginners do not know the basic science of trading and investing and they fail to do research. it will certainly have an impact on the investment or trade made. It's not just a matter of having money or not, it's useless if you have money but don't have the knowledge, then they just do everything with logic and according to their feelings. it just seems like guessing the price without any analysis. That is the reason why crypto will be a mistake for some people.

[YUriy1991]

Very often I hear about it and pay attention to it. I personally see this especially for people who like and want to learn trading, especially BTC, they will quickly connect, they will continue to dig up good and correct information. This is driven by curiosity and care. But for those who are already skeptical, he will continue to say that. Yes. That common thing.

For the application, I agree and support what is conveyed, enter first and then we will know how this crypto works, don't say it right away and the verdict in language that is not pleasant for us to hear "It's like gambling". For me, there is an art of trading which, if you look at it, is easy, but we are always invited to think about it and exercise patience in controlling our emotions.

[Yamifoud]

A friend of mine recently complain to me about how he loses thousands of dollars to crypto after invest in a token. He now said he is quiting crypto and now comparing crypto investing to that of gambling.

There is no wrong with crypto but there is wrong with your friend and the way he enters and buys tokens. I suspected that he bought scam coins and it was not a surprise from losing them.

I do believe that someone who knows about how crypto works will never compare this to gambling. And from what you have heard from your friend, it tells us that he never does research prior to investing. He probably jumps on it without knowledge and then blames crypto for his mistake.

 - what we did is the result of our doings and if we are too careless, then we can never expect positive outcomes but surely negative.