Mayor of ogba
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September 08, 2023, 02:03:30 AM |
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The reason why many fail for scams is that they are looking for investment instead of just holding Bitcoin and waiting for its value to appreciate organically, There is no doubt that the DCA approach is good but then also if a newbie is not careful you could lose along the line of DCA so DCA is out of this discussion, but let dive into something more realistic taking recent happenings with so many investment scam, exchanges ditching off their client's money and so many other scam projects platform and signals that are notable bad actors in the market.
Some people might not have the actual funds that we make them buy the quantity of Bitcoin they want to buy and hold for a long period. For instance, someone who has a $10 fund will not like to invest it in Bitcoin because Bitcoin requires a long time holding before profit will come, that person will look for other crypto projects that will yield profit in the short run and invest in it without knowing he/she might invest in a scam project and lose his fund. I think the lack of funds makes some people not buy Bitcoin and hold.
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aysg76
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September 08, 2023, 05:57:05 AM |
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Those who understand it automatically will have the focus of holding it for long term while it's hard for those who have seen its growing phase only or have heard from some hot sources it's a great way to make money in short span as they can't control it and fall for scams or loose patience selling at loss also.Talking about DCA it's also good but yeah you could just go for long term holdings with the aim of 4+ years and there are high chances of profits but you need to keep risks factors in mind as well.
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lienfaye
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September 08, 2023, 08:59:30 AM |
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To avoid all this, it become paramount to only abide by one rules which is to keep Bitcoin in your wallet and stop looking for investment that are centralized to reduce your risk.
That's how it should be to lessen the risk of losing our money. But this basic rule is hard to follow for many of us because often they're looking for quick profit that they can't achieve if they chose Bitcoin. Some newbies engage themselves in crypto not because they became aware of Bitcoin but because of the hype of a certain coin, believing it will go to the moon due to the effective promotion of influencers. Well, it's wise to diversify but make sure that you have knowledge of what you're doing and not just guessing if the specific project will give you profit in the future. Investing and holding Bitcoin is ideal for people who are not in hurry to profit and can wait longer. Because it's less stressful if you just hold though it requires patience.
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Kelvinid
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win lambo...
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September 08, 2023, 02:05:52 PM |
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Most of us misunderstand investment because what is their mind is that after buying they could make a profit already. But it was not how an investment works because aside from knowing how to buy, we also know how to hold which I really see that most of us had failed to do, especially for doubtful people. Because we are not a trader but an investor which means that we are not earning today but in the future. But if we think this will never work on us, then better not call ourselves an investor as we don't look like that.
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Z390
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September 09, 2023, 04:35:58 PM |
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Going for Bitcoin only expose you to lower risk and also lower return of your investment, but I won't dare tell people to stop looking for other investments when we are seeing new innovations unfolding in crypto space, there is A.I, there is Web3, you can't find these in Bitcoin holding, and I don't think it's right to shun them off because Bitcoin is the best.
As crazy and stupid as meme coins was in the face of many in 2019 bear market, these joke of coins made the most insane returns for people in 2021, while I asked some investors why they would invest their hard-earned money in such jokes they answered me that it's fun to play around sometimes, a friend said he understood the risks but he still prprefersaking the risk anyway.
People are looking for something new, and crypto gains have everything to do with hype, and this hype always moves around into something new in every bull market, I would rather advise people to expose themselves to risks that they are willing to take, it seems many knows the danger ahead yet they choose to proceed.
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qwertyup23
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September 09, 2023, 05:28:14 PM |
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Reason why many fail for scam is because they are looking for investment instead of just holding Bitcoin and wait for it value to appreciate organically
If someone can get introduced to bitcoin and already have an idea on trading, then it's nothing bad if he can quickly develop more skills in learning more about bitcoin and it trading, where the mistakes lies is in our people veting in what they have no idea about, definitely there will be lost of money, unavoidable mistakes and more errors. I think most of the problem boils down on the mindset of the new investors when they are first introduced with cryptocurrencies. Sure, the mindset of "getting rich quickly" is not bad perse but rushing the process without fully understanding the fundamentals can be a double-edged sword on both parties. That is why, before a person fully commits to investing in BTC, everyone should at least experience the traditional ways of maximizing the potential of its price. While people may explore trading, etc. HODLING will still be the most efficient way of earning BTCs.
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Dzwaafu11
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September 09, 2023, 08:20:47 PM |
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This is a nice idea and every newbie who has no knowledge of trading or can’t risk their investment should just go and buy bitcoin and hold for a long time.
Actually, you have a point, mate. Trading can never be for a newbie who just joined the crypto space because this kind of person only heard about trading and decided to start it over night and see if they could achieve their goal. However, it always surprises me when I see a newbie who doesn’t have knowledge of trading decide to trade because even the professionals lose money, so I wonder how much a newbie who lacks the fundamental knowledge of trading will lose at a time. However, I think bitcoin investments will suit them if they are able to take the risk and can hold their investments for a long period of time. But what is there is that not everybody who trades can go with bitcoin investment as it requires long periods of time, while they already know about trading that they can gain in a short period of time. If they have the knowledge it requires, you can see that they will go for the trading, which is not the right decision without the knowledge.
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▀▀▀▀▀▀▀██████▄▄ ████████████████ ▀▀▀▀█████▀▀▀█████ ████████▌███▐████ ▄▄▄▄█████▄▄▄█████ ████████████████ ▄▄▄▄▄▄▄██████▀▀ | LLBIT | | | 4,000+ GAMES███████████████████ ██████████▀▄▀▀▀████ ████████▀▄▀██░░░███ ██████▀▄███▄▀█▄▄▄██ ███▀▀▀▀▀▀█▀▀▀▀▀▀███ ██░░░░░░░░█░░░░░░██ ██▄░░░░░░░█░░░░░▄██ ███▄░░░░▄█▄▄▄▄▄████ ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀ | █████████ ▀████████ ░░▀██████ ░░░░▀████ ░░░░░░███ ▄░░░░░███ ▀█▄▄▄████ ░░▀▀█████ ▀▀▀▀▀▀▀▀▀ | █████████ ░░░▀▀████ ██▄▄▀░███ █░░█▄░░██ ░████▀▀██ █░░█▀░░██ ██▀▀▄░███ ░░░▄▄████ ▀▀▀▀▀▀▀▀▀ |
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Saint-loup
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September 09, 2023, 09:56:08 PM |
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It's sad to see this kind of advices to newcomers and newbies here. Satoshi Nakamoto has not created Bitcoin to be stored like dwarfs and dragons are hoardering gold in tales and legends books, but to be used as a new mean of payment, uncensorable and unseizable. He even named it : A Peer-to-Peer Electronic Cash System. Bitcoin get its value from adoption, so if nobody uses it and prefers just "hodling" it, it won't increase its value anymore and will even losing it instead.
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Crypt0Gore
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September 10, 2023, 06:51:41 AM |
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Reason why many fail for scam is because they are looking for investment instead of just holding Bitcoin and wait for it value to appreciate organically
If someone can get introduced to bitcoin and already have an idea on trading, then it's nothing bad if he can quickly develop more skills in learning more about bitcoin and it trading, where the mistakes lies is in our people veting in what they have no idea about, definitely there will be lost of money, unavoidable mistakes and more errors. I think most of the problem boils down on the mindset of the new investors when they are first introduced with cryptocurrencies. Sure, the mindset of "getting rich quickly" is not bad perse but rushing the process without fully understanding the fundamentals can be a double-edged sword on both parties. That is why, before a person fully commits to investing in BTC, everyone should at least experience the traditional ways of maximizing the potential of its price. While people may explore trading, etc. HODLING will still be the most efficient way of earning BTCs. Say the truth and let the devil be ashamed, I am not going to keep believing that Bitcoin is where all my money should be, that's nonsense, even legendary members on here knows that it's worth investing in some projects than Bitcoin but it's less risky to be in Bitcoin than other projects. If Bitcoin is all you are going to stick with you might never be rich doing so, I can't have 1k and you except me to turn that into 100,000$ with Bitcoin, it's impossible right now, but it's possible with other new projects, just that the risk is very high. Many people are gamblers on this forum, there is nothing wrong with that, but imagine been a crypto gambler on a casino and also a Bitcoin investor only, are you stupid? If you can risk money on casinos why not other projects? Gambling risk is even higher than investing in other projects. Smooch
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Abu-Naim
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September 10, 2023, 07:39:39 AM |
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To avoid all this, it become paramount to only abide by one rules which is to keep Bitcoin in your wallet and stop looking for investment that are centralized to reduce your risk.
Just a friendly advice!
All of these things depend on the initial impression a new user has of bitcoin and cryptocurrencies or how they were introduced to them; if they were introduced by a bitcoin or cryptocurrency trader, they will likely begin with trading, and if they were introduced to keeping bitcoin for future reserves, they will undoubtedly learn how to purchase and hold bitcoin. Investing in other projects carries a significant risk, but it yields a greater return than purchasing or holding bitcoin, particularly when the companies in concern have a strong team and significant potential. However, the likelihood of not losing money is limited due to the lack of confidence and security around such altcoin investments; only bitcoin investment is more secure.
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▀▀▀▀▀▀▀██████▄▄ ████████████████ ▀▀▀▀█████▀▀▀█████ ████████▌███▐████ ▄▄▄▄█████▄▄▄█████ ████████████████ ▄▄▄▄▄▄▄██████▀▀ | LLBIT | │ | CRYPTO FUTURES | | | | | | | | | [ | 1,000x LEVERAGE | ] | [ | . COMPETITIVE FEES | ] | [ | INSTANT EXECUTION | ] | | | ██████ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██████ | ████████████████████████████████████████████████████████ . TRADE NOW . ████████████████████████████████████████████████████████ | ██████ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██ ██████ |
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Awaklara
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September 10, 2023, 07:41:47 AM |
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To avoid all this, it become paramount to only abide by one rules which is to keep Bitcoin in your wallet and stop looking for investment that are centralized to reduce your risk.
Just a friendly advice!
That is indeed better, but in current market conditions we can see that there is no significant pump movement. it will only frustrate beginners. that's what happens, beginners think about making profits in a short time, not being patient in holding assets for a long period of time. Maybe that's part of the reason why there are more beginners who are interested in investing in memecoin projects or new projects that promise several times the profits when they are listed on the exchange. and of course more of them will experience fraud and lose their money. More beginners must be aware of where they can put their investment money safely and with minimal risk.
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Jon_Hodl
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Humble Bitcoin Stacktivist
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September 10, 2023, 08:29:41 AM |
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The only thing I tell new users to do is to buy bitcoin, withdraw to your own wallet as soon as is reasonably possible, secure your seed phrase, and hodl for at least 10 years.
DCA is obviously what we need the most for long term price stability but I don't think we will see another wave of new DCA buyers until after the next halving.
Just focus on stacking sats while it's cheap and just hodl for 10+ years. That's the best "investment" advice out there.
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I'm here to chew bubblegum and stack sats....and I'm all out of bubblegum. - Learn More About Bitcoin: What Is Bitcoin?
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Peanutswar
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Top Crypto Casino
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September 10, 2023, 12:30:26 PM |
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Reason why many fail for scam is because they are looking for investment instead of just holding Bitcoin and wait for it value to appreciate organically, there is no doubt that DCA approach is good but then also if a newbie os not careful you could lose along the line of DCA so DCA is out of this discussion, but let dive into something more realistic taking recent happenings with so many investment scam, exchanges ditching off their clients money and so many other scam projects platform and signals that are notable bad actors in the market.
To avoid all this, it become paramount to only abide by one rules which is to keep Bitcoin in your wallet and stop looking for investment that are centralized to reduce your risk.
Newbies keep chasing to earn money immediately and they make a wrong decision with their investment, one of the best examples is the projects offering a good return of money like a too good to be true and those newbies think its just the basic concept of the cryptocurrency investment sometimes they made an investment with the use of their debts and savings which is really bad. Ideal if they seek other than this like business and if you have a good cashflow now you can manage easily to have a right investment with the bitcoin for holding. Just my cents don't too much focus with the crypto investment only we know how does the market volatile.
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HONDACD125
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September 10, 2023, 04:17:54 PM |
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That is indeed better, but in current market conditions we can see that there is no significant pump movement. it will only frustrate beginners. that's what happens, beginners think about making profits in a short time, not being patient in holding assets for a long period of time. Maybe that's part of the reason why there are more beginners who are interested in investing in memecoin projects or new projects that promise several times the profits when they are listed on the exchange. and of course more of them will experience fraud and lose their money. More beginners must be aware of where they can put their investment money safely and with minimal risk.
There is really no movement in the current situation, the market is looking very boring, it must be disappointing for the newbies but also for the old investors the market is looking disappointing. Of course new people come to this market with the thought that they will get good profit here, but they don't know that it is not so easy to get profit here. Here one has to keep an eye on market fluctuations and may have to wait for a long time. Many people invest in meme coin projects or new projects to get more profit. Some projects can give huge returns after listing on major exchanges. Just like Pepe Coin gave people huge profits, and made people millionaires in a very short time, but it hurt people who later invested in the coin. Many meme coin projects don't succeed because of which people lose their money in it. Thorough information and research is also very important while investing in any new project, as new projects are also unpredictable and may result in loss of investment.
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babygun
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September 10, 2023, 05:19:34 PM |
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That is indeed better, but in current market conditions we can see that there is no significant pump movement. it will only frustrate beginners. that's what happens, beginners think about making profits in a short time, not being patient in holding assets for a long period of time. Maybe that's part of the reason why there are more beginners who are interested in investing in memecoin projects or new projects that promise several times the profits when they are listed on the exchange. and of course more of them will experience fraud and lose their money. More beginners must be aware of where they can put their investment money safely and with minimal risk.
Before you invest, you need to do your research as the chances exist that you can loose all your money. The main problem is that many beginners don't take the time to learn and will invest already a big amount in crypto as they think, it is a way to quickly get rich. This is something that will always happen especially if the bitcoin price would keep rising and rising. Then you will see a lot of new investors as they only think the price will keep going up...
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Renampun
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September 10, 2023, 07:38:20 PM |
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...
To avoid all this, it become paramount to only abide by one rules which is to keep Bitcoin in your wallet and stop looking for investment that are centralized to reduce your risk.
Just a friendly advice!
Everyone has different reasons for getting into Bitcoin, some have investment goals, starting a business, and becoming a trader, Whatever they do can't be limited, it's just that there are many beginners out there who don't follow the advice of the senior because they are too lazy and too idealistic. like my friend who invested a lot of money in meme tokens but currently his investment is making a loss even though I have warned him that don't just put money in, look first at the reputation of the project, prioritize buying bitcoin. why do newbie investors often buy new crypto assets rather than old ones Because they hope that the new crypto assets will experience drastic price increases like the old crypto assets!
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rachael9385
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September 10, 2023, 07:48:04 PM |
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Most of us misunderstand investment because what is their mind is that after buying they could make a profit already. But it was not how an investment works because aside from knowing how to buy, we also know how to hold which I really see that most of us had failed to do, especially for doubtful people. Because we are not a trader but an investor which means that we are not earning today but in the future. But if we think this will never work on us, then better not call ourselves an investor as we don't look like that.
This is the number one thing that new investors do wrong. Some of them, after buying Bitcoin, just thought that all of a sudden they would start profiting from the investment. Anyway, maybe that was how they might have gotten their information before they started investing in Bitcoin. And again, so many people have given Bitcoin a bad reputation. How? Those investors who just jumped in to Bitcoin thinking they will profit within 24 hours or even below the 24 hours when they start to see that the investment plan is not going well with them, they start thinking that the platform is a big scam, so I will suggest to every new investor out there to read more and gather more information and ideas of Bitcoin before they join the investment so they can know that before they start profiting, they will hold and accumulate for long.
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Sim_card
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September 10, 2023, 09:16:01 PM |
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Most of us misunderstand investment because what is their mind is that after buying they could make a profit already. But it was not how an investment works because aside from knowing how to buy, we also know how to hold which I really see that most of us had failed to do, especially for doubtful people. Because we are not a trader but an investor which means that we are not earning today but in the future. But if we think this will never work on us, then better not call ourselves an investor as we don't look like that.
I see people that cannot hodli their bitcoin investment for long term as traders because like you said an investment is something that yields profit in a long term and not in a short term. Trading is very risky than hodling, and you can also run at loss when you are not patient with the price movement of bitcoin. Personally, i will say that it is greed that makes people think that bitcoin trading will give them millions overnight without learning the strategy behind trading. I believe that most investors here knows that long term investment is the best but they are doubting the faith that they have in bitcoin which makes them look for little profit rather than waiting for the bull run to come.
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Cryptmuster
Legendary
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Activity: 2058
Merit: 1276
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September 11, 2023, 08:32:40 AM |
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Everyone has different reasons for getting into Bitcoin, some have investment goals, starting a business, and becoming a trader, Whatever they do can't be limited, it's just that there are many beginners out there who don't follow the advice of the senior because they are too lazy and too idealistic. like my friend who invested a lot of money in meme tokens but currently his investment is making a loss even though I have warned him that don't just put money in, look first at the reputation of the project, prioritize buying bitcoin.
why do newbie investors often buy new crypto assets rather than old ones Because they hope that the new crypto assets will experience drastic price increases like the old crypto assets!
As for new and old projects, maybe this makes sense, new projects have a better chance of growth in the upcoming bull market, but not all of them will show great growth, you need to be able to identify promising projects. As for meme coins, this is a lottery, I don’t know, maybe someone will get lucky, but it will only be luck, since it is impossible to analyze all these projects and find at least some benefit from them. Meme coins are something that I always try to avoid, I rely only on my ability to analyze projects, and it works for me.
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Kelvinid
Sr. Member
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win lambo...
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September 15, 2023, 12:53:44 PM |
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Most of us misunderstand investment because what is their mind is that after buying they could make a profit already. But it was not how an investment works because aside from knowing how to buy, we also know how to hold which I really see that most of us had failed to do, especially for doubtful people. Because we are not a trader but an investor which means that we are not earning today but in the future. But if we think this will never work on us, then better not call ourselves an investor as we don't look like that.
I see people that cannot hodli their bitcoin investment for long term as traders because like you said an investment is something that yields profit in a long term and not in a short term. Trading is very risky than hodling, and you can also run at loss when you are not patient with the price movement of bitcoin. Personally, i will say that it is greed that makes people think that bitcoin trading will give them millions overnight without learning the strategy behind trading. I believe that most investors here knows that long term investment is the best but they are doubting the faith that they have in bitcoin which makes them look for little profit rather than waiting for the bull run to come. That is what they get from following social media influencers who are promoting trading sites which makes their viewers/listeners to think that there is easy money in trading while disregarding the risk that awaits them. So many people have fallen into such promises (instant profit/quick returns) where it was out of reality. It is not only greedy people who fall into this kind of trick but many newbies as well who thought that trading would be a shortcut to success and becoming rich. After all, many of them felt regret when they tried it.
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