Always do your own research (DYR)

[Odusko]

The message originator doesn't sound like a business person to me because from the very start he shown low level knowledge of what he invested in and he may have also taken bitcoin or cryptocurrency as a get rich quick scheme and, this will affect him alot both in the cryptocurrency market and also in real life because no business person will invest $500 business money on bitcoin without making research of the risk that could come along that investment.

[KingsDen]

The message originator doesn't sound like a business person to me because from the very start he shown low level knowledge of what he invested in and he may have also taken bitcoin or cryptocurrency as a get rich quick scheme and, this will affect him alot both in the cryptocurrency market and also in real life because no business person will invest $500 business money on bitcoin without making research of the risk that could come along that investment.

I also tried to analyse the chat and it wasn't worth it. Maybe it is a randomly generated chat to depict what happens on everyday life. I could believe that it wasn't bitcoin they supposedly invested in. From $500 to $130 LOL. How many percent on losses.  This cannot be our bitcoin.

[Cryptomultiplier]

True. Panic is the first thing a newly introduced investor faces when they think they have lost their investment in something they were introduced to and know so little about. That's why it is good to hammer on time. Give the person space to reason and ponder on the information you fed them, and let them come on their own to ask how they can benefit from it despite the risk involved.

 This kind of issues break friendships, because it might not be lack of communication that's the leading cause of why the investment failed, but the lack of knowing how to tell a convincing story that makes one trust you say the truth, is what matters.
A convincing story would propel anyone to do their own research and come with good questions to ask. Where this is not so, the information passed across will come off as cheap and ordinary.

[SamReomo]

That message could be a new method by scammers to trap others. The scammers try their best to make new methods in order to test our empathy and when we fall for them then they take the money and run away. Such scammers are people with criminal mindsets, they misuse that money for bad things and continue their scamming habits.

The message could also be send by someone who got affected by the dump of the market and if that's the case then that someone might have invested in a wrong altcoins that dumped a lot in value. I also think that it's a good thing to do your own research before investing money into crypto-currencies because if you invest in wrong coins then you won't make any profits whatsoever.

[lovesmayfamilis]

That is why we need to introduce patient in everything we do, most of the newbie are not patient enough to know more about cryptocurrency before looking out to make investment.

Everything is much simpler. If someone introduces a person to crypto, they should tell the whole truth and not promise only advantages and increases. In general, for a normal person who sees the life of the person whom he wants to introduce to Bitcoin, it would be right to protect him from excessive haste. Especially if he knows that the person cannot really afford to spend. First of all, stories about volatility and periods for which it is profitable to invest, and this is not a small time, will prepare a person for all surprises. Whether people hear these warnings or not is not your problem. You will do what you must.

[Alone055]

It's possible this is a genuine message, or maybe it's a joke.  Someone  invested their "business capital" in something they may not fully understand, which could lead to financial loss. Can you imagine his business venture if he is really that stupid and reckless? Perhaps this will be a valuable learning experience. As the saying goes, "Fools and their money are soon parted."

It seems like he is talking to a so-called crypto expert that we often see people promoting in the comments of social media posts and asking us to either join a Telegram group or contact a person who is an expert and has helped them gain financial freedom. Such people would show big dreams to newbies about how much money they can make if they make investments and don't let them know about any risks involved, and such newbies are so naive that they wouldn't do their research before doing it.

I can say that this can be 100% real because I have seen people being this naive where they would invest money with people they randomly meet in a chat group or through someone who contacts them privately offering them great returns on a plan they have or they can refer them to.

[Cryptoprincess101]

I remembered when I was new into Bitcoin and I bought some Bitcoin so when the price of Bitcoin started dropping I also checked my wallet and saw my Bitcoin was also decreasing in dollars, I was very surprised before I ask a senior member here and I was told that it was due to volatility as Bitcoin is not a stable coin that the price fluctuates up and down. I was still very angry till the price of Bitcoin increased again and it went even above the initial amount I bought and I was so happy and did some research and learnt a lot about Bitcoin volatility.

[Mrbluntzy]

Something we should learn from this is that before investing in anything, it's important to do your own research and understand how it and the market works. If you introduce someone to crypto, make sure they know about the risks of volatility.

I agree with you @Hatchy, this chart which you have presented clearly shows how dumb the investors was towards crypto and he or she did not even play safe by investing just a small amount that will not stop him from starting his business. I am just happy for my self that I was so privilege to learn and understand that crypto investment is not something that any body can expect profit for a short period of time.
With crypto investment, one should only invest what they can either hold for a long time or something that they can afford to lose.

[Barikui1]

I found this image on WhatsApp and wanted to share it here as a message for everyone in our forum. In the crypto world, prices can change a lot especially during Bear season. Even though you might have the same amount of coins their value in the market may reduce drastically. This can be scary especially for newcomers who might not understand how it all works. In the image above ,someone introduced a newbie to crypto without explaining the risks or advising them to do research first. Now the newbie is upset and asking for his money back.
Something we should learn from this is that before investing in anything, it's important to do your own research and understand how it and the market works. If you introduce someone to crypto, make sure they know about the risks of volatility.

Theres also a risk of being blamed or even arrested if someone claims you lost their money through investing. This could lead to accusations of scams.
Incidents like this can give reputable coins like Bitcoin a bad reputation, as people might spread misinformation about them being scams. Let's be careful about how we introduce others to crypto investing.

In as much as this Whatsapp conversation look really funny to me, but it's actually a complete no to me, to tell someone to invest when I know that the person have zero knowledge about cryptocurrency and how it works, because only this conversation am seeing so is enough reason for his or her to start calling you a scammer.

In some places around the world, their are some people that knows little or nothing about Bitcoin and cryptocurrency, and most people around the world still sees crypto as a Ponzi scheme, due to the fact that they are uninformed, those kind of places, it's very advisable to talk about Bitcoin cautiously, so that most uninformed people would not start seeing you as a scammer.

Lastly, if we are introducing someone into the crypto industry, it's best we tell them all it entails about it, and mostly the risks attached to it, not just the benefits, because by the look of things, it's only the benefits the other guy told the newbie about, that's why he is really panicking, because it's the exact opposite of what he thought.

[GiftedMAN]

The image below shows an example of a newbie who got into cryptocurrency investment without prosper information about how crypto market works, from the message of the newbie you can see that he's not properly oriented that's why he's asking the person to take the coins back and give him back the amount that was invested may be because the plan is to invest $500 and make a double profit to boost his business because for someone who is well oriented, it's very difficult to pull out your business capital to invest when you don't know what the next minute will turn out in the market. For anyone who's extending a helping to as many that wants to invest in cryptocurrency, it is important you give them good education, lecture them that the investment is not a get rice quick scheme and don't allow them to invest with the money they want to use for other important things if they will be needing it soon because Bitcoin investments does not guarantee instant financial stability, help them even after guiding them to avoid this kind of cry for help.

[Obim34]

The message originator doesn't sound like a business person to me because from the very start he shown low level knowledge of what he invested in and he may have also taken bitcoin or cryptocurrency as a get rich quick scheme and, this will affect him alot both in the cryptocurrency market and also in real life because no business person will invest $500 business money on bitcoin without making research of the risk that could come along that investment.

Of a truth, this shows a low level of inquisitiveness to gain knowledge, the world is assumed to get people who are readily to ask questions and make inquiries before any action but how come a person would blindly invest in crypto without understanding the risk factors, I'm sure it wasn't Bitcoin probably some Altcoins.

The person who aswell introduced him to crypto investment should be blamed, we do not know how the whole action took place but the referer should have known more and more about all the associated risk features before allowing the other person to invest such an amount that will cost him alot if the market goes side ways and it did, he is left with the choice of holding or selling, as we don't know the actual crypto his holding.

[SickDayIn]

This thread discusses a few important points - not just to Do Your Own Research (DYOR), but also, to be cautious of giving advice to family or friends.

When you give advice to family or friends on cryptocurrency to buy, your relationship with them will be held accountable if the investment does not perform. You might have conviction and are able to weather the storm of constant changing prices, but they do not. For this reason only, I do not share any investment or cryptocurrency related advice with family or friends, they need to understand it themselves and make their own decisions for which they are the only ones who are accountable.

[DaNNy001]

The message originator doesn't sound like a business person to me because from the very start he shown low level knowledge of what he invested in and he may have also taken bitcoin or cryptocurrency as a get rich quick scheme and, this will affect him alot both in the cryptocurrency market and also in real life because no business person will invest $500 business money on bitcoin without making research of the risk that could come along that investment.

Thats why i said he must have gotten the investment through maybe some testimonials of one random dude talking about how easy it is to invest in bitcoin and how much profits he has made. Some persons just like you pointed out have come to the conclusion that bitcoin is actually a get rich scheme and nothing more which is the most wrong idea or thought anyone would when it comes to investment.

[martinex]

I found this image on WhatsApp and wanted to share it here as a message for everyone in our forum. In the crypto world, prices can change a lot especially during Bear season. Even though you might have the same amount of coins their value in the market may reduce drastically. This can be scary especially for newcomers who might not understand how it all works.

I think this risk is also sometimes very binding for us in the first stage when beginners come by asking us to be taught how to invest in crypto and on the way during market corrections because we are not used to the pressure of market corrections let alone the duration of up to weeks like last year more or less reports that are so coming.

Indeed, this is considered natural, but if we are more patient, especially for beginners, more or less it will also increase understanding of market performance and how we can not get caught up in these conditions and be able to come out as the winner of at least the big series.

[Alana Arden]

Never follow the path shown by others without having proper knowledge about crypto. Most newbies come to invest in crypto after being lured by social media or YouTubers' catchy words. And to do so is to destroy oneself with one's own hands. Because it is necessary to properly research, observe, and understand the market about cryptographic risks before investing. And to do this, you have to be patient enough. Patience has to be tested.
 Before the person invests in crypto, he must have done proper research, know about the risks, or his friend should have told him about them. You only invest what you can afford to lose, and that is the policy of crypto. But it has been a lesson for the man, which will be of great use to him in his later decisions. Because people learn from mistakes and gain skills.

[mvdheuvel1983]

The message originator doesn't sound like a business person to me because from the very start he shown low level knowledge of what he invested in and he may have also taken bitcoin or cryptocurrency as a get rich quick scheme and, this will affect him alot both in the cryptocurrency market and also in real life because no business person will invest $500 business money on bitcoin without making research of the risk that could come along that investment.

In some cases some people introduced people and make the people have another mindset on what they want to invest in, the person who sends the message sounds like someone who was given a guarantee of making profit after investment and with no idea of what he wants to invest in he probably invested without making research because of the orientation that someone who introduced him must have told him. There are similar cases where people give others who have ideas investment capital because of the profit involved in the business this could be the case from the message seen in the op and I believe that's why the sender of the message is demanding for his money back if possible.

[Mpamaegbu]

Let's be careful about how we introduce others to crypto investing.

That's very important. We shouldn't overhype anything cryptos to those who aren't into it yet. It's so we don't give them false hope. I had a very good laugh when I first saw that convo you shared here in screenshot on Facebook last week. It's hilarious. Though I suspect it could be two people just catching cruise and acting like something was amiss. Well, I ain't saying that there aren't people who've that same mindset. There are, definitely.

If you don't have any friend that can look you in the eye and tell you the brutal truth about investing in the crypto market be it bitcoin or any altcoins then that person doesn't deserve to be your friend. And if you are that person tell your friends who ask for advice that they can lose all their capitalism the twinkle of an eye...

But of course, those who want to profit from their friends when they buy Bitcoin for them or sell to them at higher commission, such people won't forewarn their friends. Their main interest would be to get their friends in so they can profit from their transactions. If they have nothing to lose, they would be telling their friends the pros and cons of the industry. Crypto space isn't an all comers affair. There's a high rate of scam and that's why DYOR is very important for anyone who wants to make a headway in this industry.

[Finestream]

That is why we need to introduce patient in everything we do, most of the newbie are not patient enough to know more about cryptocurrency before looking out to make investment.

Everything is much simpler. If someone introduces a person to crypto, they should tell the whole truth and not promise only advantages and increases. In general, for a normal person who sees the life of the person whom he wants to introduce to Bitcoin, it would be right to protect him from excessive haste. Especially if he knows that the person cannot really afford to spend. First of all, stories about volatility and periods for which it is profitable to invest, and this is not a small time, will prepare a person for all surprises. Whether people hear these warnings or not is not your problem. You will do what you must.

Exactly. One should not focus only on its advantages and rewards, but should definitely tell as well those risks and consequences that an investor may endure if ever his investments do not worked as planned. This is to make sure that he understands completely the risks and rewards of that certain investment before he will put his funds. And on the investor’s part, DYOR is also the key. He should be responsible enough to research everything first before trusting that investment.

[freedomgo]

Something we should learn from this is that before investing in anything, it's important to do your own research and understand how it and the market works. If you introduce someone to crypto, make sure they know about the risks of volatility.

I agree with you @Hatchy, this chart which you have presented clearly shows how dumb the investors was towards crypto and he or she did not even play safe by investing just a small amount that will not stop him from starting his business. I am just happy for my self that I was so privilege to learn and understand that crypto investment is not something that any body can expect profit for a short period of time.
With crypto investment, one should only invest what they can either hold for a long time or something that they can afford to lose.

Probably this is because the investor itself wants to get rich quick and in order to satisfy his greed, he invested without learning all the basics and neglect all those disadvantages that may turn his investment into a failure. So there’s no one to blamed but definitely himself. And on part of those who advise to invest, learn to avoid taking guarantees that the investment will go on skyrocket, all investments have still uncertain outcomes so invest only at your own risk.

[Mate2237]

That is why the basic knowledge on cryptocurrency market and possible the Blockchain should learned or taught to the newcomers in the cryptocurrency world so that would understand some basic concepts like investment, bearish and bullish market and ATH and even halving so that when they are investing in it then all these ridiculous questions and conversations will not occur again.

According to a popular saying "ignorant is a disease". When I say the conversation I laughed.