Lot of really good suggestions and points you make here. However I can't agree that you should "only" invest in bitcoin. Yes, it's the king of all cryptocurrency coins, but there's other coins that I don't view as rivals that are worth looking in to (Monero, Ethereum, Litecoin etc).
As as for not listening to "influencers" I would certainly almost entirely agree with you there but there area few whom are knowledgeable and decent.
Their are good genuine coin to invest aside bitcoin but some people have it in their mind that if they invest in new project they can make good profits than what they will gain in bitcoin and other well known cryptocurrency. Aside bitcoin their are other cryptocurrencies one can invest on. It is better if people go after what they know and sure about than investing their money in the unknown which they may easily fall for scam.
Yes, exactly. Many people are usually deceived in new projects, they already understand the new project but dare to take risks because of greed. even though there are still many other coins whose fundamentals have been proven as mentioned above.
So what makes people deceived and lose the main thing is because of greed. because greed is basic human nature. Even when they are in heaven, people still want the forbidden fruit (khuldi). When you have a million, you want two million. Once you have two million, you want three million and so on, even billions. Because human nature is greedy, humans will always be easy to deceive. Sometimes we always put greed before everything else, without doing anything about the research. So to avoid crypto fraud, what needs to be controlled is to reduce excessive ambition with wealth and be patient in going through the process and give up your intention to get rich quickly.
