Do not fall for success stories of bitcoin investors

[Mr.suevie]

I have seen new investors being carried out by seeing the success of big bitcoin investors. But , this is wrong approach in my opinion. Because, I personally feel that most of the people fail and they will never share their story. So, most of the stories that new guy searches , he will find only good success stories. But that is not correct overall picture. One should keep the limitations of crypto in mind as well. What is your opinion about this ?

You can't even start to imagine the amount or even the level of people that have been lured or draged into the crypto space because of all this over hyped success stories of people around them and the most is all those social media claims of big time crypto trading, I mean these guys make it look as if trading is some kind of easygoing act that probably anyone can make it without even knowing the full gist and struggles around it. I personally don't pay attention to anyone success stories that much, I simply lay on the basis that if you are a good and hardworking person knowing what you are doing then you will actually achieve this.

[Kristiyana]

I have seen new investors being carried out by seeing the success of big bitcoin investors. But , this is wrong approach in my opinion. Because, I personally feel that most of the people fail and they will never share their story. So, most of the stories that new guy searches , he will find only good success stories. But that is not correct overall picture. One should keep the limitations of crypto in mind as well. What is your opinion about this ?

Actually there's a similar topic like this, which also talk about how most people jump into bitcoin investment due to the success stories they Heard from those earlier investors, I think this is not a new topic anymore. However been carried away by seeing the success of those old investors, it can only be a wrong approach to those new Investors who are very curious to get profited unlike those earlier investors. without knowing that they also experience lose in the market, that is why as a beginner in this crypto space you don't have to be curious to make profit from bitcoin investment, you need to get all the necessary informations about bitcoin investment before looking out to invest.

[kotajikikox]

You can't even start to imagine the amount or even the level of people that have been lured or draged into the crypto space because of all this over hyped success stories of people around them and the most is all those social media claims of big time crypto trading, I mean these guys make it look as if trading is some kind of easygoing act that probably anyone can make it without even knowing the full gist and struggles around it. I personally don't pay attention to anyone success stories that much, I simply lay on the basis that if you are a good and hardworking person knowing what you are doing then you will actually achieve this.

People who hear about these exaggerated stories often get hopeful and get excited about the possible profit they might have and then when things don’t go the way they expected it to be, they will label bitcoin as a scam. This is where most misconceptions about bitcoin come from.

If we were to share success stories maybe we should also include the risks involved and the challenges we had to go through just to not make the readers hope too much.

[Hopila]

I have seen new investors being carried out by seeing the success of big bitcoin investors. But , this is wrong approach in my opinion. Because, I personally feel that most of the people fail and they will never share their story. So, most of the stories that new guy searches , he will find only good success stories. But that is not correct overall picture. One should keep the limitations of crypto in mind as well. What is your opinion about this ?

Looking all you've started here,
I think one of the major drive about investment is actually base on other people's achievement and likewise their experiences. so for me i don't think it's wise for any investor to share his/her  past story in Bitcoin investment before investing.

Considering the current instability in market value.

[0t3p0t]

I think it is better to say make it as an inspirationif we see people being successful in any field especially crypto space. But I don't personally replicate or do what they do because it might not work with me I mean their strategy might work or not, so much better to analyze things based on our own understanding. Other peoples work might be a clue or hint for us to modify according to our knowledge and perception.

[coinerer]

I have seen new investors being carried out by seeing the success of big bitcoin investors. But , this is wrong approach in my opinion. Because, I personally feel that most of the people fail and they will never share their story. So, most of the stories that new guy searches , he will find only good success stories. But that is not correct overall picture. One should keep the limitations of crypto in mind as well. What is your opinion about this ?

You are right people who lose never share their story with others.  But those who profit continue to share their stories with joy.  But if nothing else, investing in Bitcoin and holding it for a long time will definitely make a profit.  Those who lose by investing in Bitcoin are those who can't be patient with Bitcoin long-term.  Many believe in Bitcoin, but when they see the price of Bitcoin falling, they panic and sell it.  And because of this they keep losing their investment.  If there is such a panic, he will never be able to profit.  So, to profit from Bitcoin, one must be patient and invest for the long term

[Abu-Naim]

I have seen new investors being carried out by seeing the success of big bitcoin investors. But , this is wrong approach in my opinion. Because, I personally feel that most of the people fail and they will never share their story. So, most of the stories that new guy searches , he will find only good success stories. But that is not correct overall picture. One should keep the limitations of crypto in mind as well. What is your opinion about this ?

Success stories serve as motivation to the new investors, I don’t think it is a bad idea to share success stories just to motivate other people to invest in Bitcoin because we are sharing good news about Bitcoin anytime to get more people that will adopt Bitcoin globally.

Some stories been shared here are fake, but they help to give motivation; but whenever a newbie is trying to invest in Bitcoin, they need to do research and also learn the basics of Bitcoin, blockchain, and cryptocurrency so that they will know what exactly they are doing and where they are putting their money into.

[Bravut]

Every reasonable person understand that paths are different with different challenges ahead, success stories are meant to taken as a motivation, inspiration that gives one the hope that he can suceed or do same in a particular space.

If I get you correctly, you are trying to point out the necessity of new investors having a grounded knowledge and not jumping into the market because of stories or podcasts but rather it should be taken as a process.
You have your story, so as me, it a matter of subjectivity and not a conclusion.

[Marvell1]

I have seen new investors being carried out by seeing the success of big bitcoin investors. But , this is wrong approach in my opinion. Because, I personally feel that most of the people fail and they will never share their story. So, most of the stories that new guy searches , he will find only good success stories. But that is not correct overall picture. One should keep the limitations of crypto in mind as well. What is your opinion about this ?

Success stories serve as motivation to the new investors, I don’t think it is a bad idea to share success stories just to motivate other people to invest in Bitcoin because we are sharing good news about Bitcoin anytime to get more people that will adopt Bitcoin globally.

Some stories been shared here are fake, but they help to give motivation; but whenever a newbie is trying to invest in Bitcoin, they need to do research and also learn the basics of Bitcoin, blockchain, and cryptocurrency so that they will know what exactly they are doing and where they are putting their money into.

It depends on how you perceive the story because many people have heard about some early investors who sold their houses, sold all their assets, invested in bitcoin and became millionaires and billionaires. Some newbies believed the story and imitated it, many sold their houses or even borrowed large sums of money to invest in bitcoin in the hope of becoming millionaires like those early investors. But as a result, they suffered losses and lost everything.

Because there are so many stories about becoming rich by investing in bitcoin, many newbies invest in bitcoin with a get-rich-quick mindset and become rich overnight...Everything has two sides and this is the dark side of success stories that we should not ignore.

[Onyeeze]

I have seen new investors being carried out by seeing the success of big bitcoin investors. But , this is wrong approach in my opinion. Because, I personally feel that most of the people fail and they will never share their story. So, most of the stories that new guy searches , he will find only good success stories. But that is not correct overall picture. One should keep the limitations of crypto in mind as well. What is your opinion about this ?

for you to be successful bitcoin investor you have to make a good research concerning bitcoin, so you can not say that bitcoin anyone that invest in bitcoin is not people that be successful, but one thing about bitcoin investment is  that you need to be patient for your investment in bitcoin otherwise you will lose, some persons panic in bitcoin due to they just heard the information of Bitcoin, so therefore I believe that any investment have advantages and disadvantages, but as investor do not have hope that you will make profit almost everytime.

[Yatsan]

I have seen new investors being carried out by seeing the success of big bitcoin investors. But , this is wrong approach in my opinion. Because, I personally feel that most of the people fail and they will never share their story. So, most of the stories that new guy searches , he will find only good success stories. But that is not correct overall picture. One should keep the limitations of crypto in mind as well. What is your opinion about this ?

Common mistake I guess. But actually, I never view those who shared their success stories, negatively. The part that we should be keeping an eye with is people's mindset when it comes on investments. Not because others are in big profit, same thing will come in an instant on your end as well. Everything varies; knowledge of an investor, circumstances that he/she lives on, decision making, and also the amount you have invested. Any of this could create variation with profit outcomes. If you're just eyeing with the part that you'd earn profit then you're in the wrong path. If it is that easy to make profit from this industry, all of us should be rich by now. There's no such thing as an easy way to earn profit. Much better if you would as well be preventive of loss than to just be optimistic or profit alone.

[passwordnow]

I have seen new investors being carried out by seeing the success of big bitcoin investors. But , this is wrong approach in my opinion. Because, I personally feel that most of the people fail and they will never share their story. So, most of the stories that new guy searches , he will find only good success stories. But that is not correct overall picture. One should keep the limitations of crypto in mind as well. What is your opinion about this ?

It's fine someone wants to share his success stories and even the failures. There's nothing wrong with that if that person shares how his crypto journey went like a roller coaster. Because all of us are interested to know how these people able to make it. But for us, we've got our own stories to tell, so there's really no problem at all if someone is only looking to the success stories and doesn't want to hear the failures of these successful people. As a sharer and reader, there is nothing wrong on both end what you prefer and there is also nothing wrong with how you are pointing this out with the point of view you have.

Sharing only is becoming wrong if there is an intention of some pitch at the end of these stories. I've seen a lot of them for the past years that there's this guy who has been new to the market and then became an investor and shared his failure. But then, because of this 'xx' project, he's able to make so much money and able to change his life. In that perspective, that's the wrong approach when it's about sharing the stories of these people. They're obviously trying to market through the emotions of people and I think that's wrong. However, in the marketing world, that's how you really get the trust of the clients and potential investors when you're able to move their feelings.

Well, we're all grown ups and we can attest whether the success story is for real or it's just another marketing stunt. Just don't fall for those kind of stories that are selling products and services at the end of it as that looks unethical for some but, if you just like to read and you're not moved by such, then be inspired always.

[Jegileman]

I have seen new investors being carried out by seeing the success of big bitcoin investors. But , this is wrong approach in my opinion. Because, I personally feel that most of the people fail and they will never share their story. So, most of the stories that new guy searches , he will find only good success stories. But that is not correct overall picture. One should keep the limitations of crypto in mind as well. What is your opinion about this ?

I feel everyone has their own path to walk on and what happen to Mr A cannot be the same for Mr B even when they are using the same pattern or searching for the same end result. A lot of people have indeed used the success stories of others to motivate them to start theirs but many don’t know that, they can only learn from those stories but shouldn’t expect the same to come for them, they can get it easier or harder than theirs. Stories are meant to guide you but that should let be your dependency when on that path. I think in scenarios like this, just be on alert for the worst thing to come, so that when it happens, you don’t feel regretful why you started the journey or lose hope in sight of what you’ve set to achieve in the first place.

[Kalchef]

I have seen new investors being carried out by seeing the success of big bitcoin investors. But , this is wrong approach in my opinion. Because, I personally feel that most of the people fail and they will never share their story. So, most of the stories that new guy searches , he will find only good success stories. But that is not correct overall picture. One should keep the limitations of crypto in mind as well. What is your opinion about this ?

Behind every success stories are many failures, there is no one that's born a winner without their trials, so just because they shared their stories doesn't mean things just work out for them without any battle and failures.

It is just common sense.

[thecodebear]

I have seen new investors being carried out by seeing the success of big bitcoin investors. But , this is wrong approach in my opinion. Because, I personally feel that most of the people fail and they will never share their story. So, most of the stories that new guy searches , he will find only good success stories. But that is not correct overall picture. One should keep the limitations of crypto in mind as well. What is your opinion about this ?

If you buy bitcoin and hold for 4+ years, and you hold your bitcoin yourself in a safe way, there's basically no way to "fail". All of the fail stories about Bitcoin are from people keeping their bitcoin on exchanges when the exchange gets hacked, or lending their bitcoin through some third party, or only holding for a short amount of time and panic selling, or falling for some scam, or just the early days when it wasn't worth anything so people threw away or lost the keys. If you hold for 4+ years and store it properly in your own cold wallets (safe, secure, encrypted, with redundancy), it would be extremely extremely unlikely to "fail" with bitcoin.

[Mate2237]

Op if you understand cryptocurrency and bitcoin in particular,  you will notice that the success stories are also part of the process to motivate people in the investment o bitcoin and it is not a bad thing and the same time there threads also warning investors to be careful whenever they are investing. They have to k ow the basic knowledge of bitcoin and it co Cryptocurrencies in the ecosystem.

There are some stories that I have seen and hers that investors lost a tremendous amount of bitcoins in the industry so all are part of the investment process. Bot the good and bad are all in the industry so whatever dealing with cryptocurrency be careful and patient.

[darkangel11]

Is it really that hard to be successful holding bitcoin? I've held for many years and never had to lie about my success.
If you look at bitcoin charts year by year, all you had to do was buy at literally any point, apart from maybe exactly the last ATH of 2021, which we held for no more than a few days, to make a lot of money.
If you said to me you made millions in bitcoin since the last bear market, I wouldn't be surprised, because all it would take was some conviction and capital to invest.

[Viscore]

I have seen new investors being carried out by seeing the success of big bitcoin investors. But , this is wrong approach in my opinion. Because, I personally feel that most of the people fail and they will never share their story. So, most of the stories that new guy searches , he will find only good success stories. But that is not correct overall picture. One should keep the limitations of crypto in mind as well. What is your opinion about this ?

Success stories serve as motivation to the new investors, I don’t think it is a bad idea to share success stories just to motivate other people to invest in Bitcoin because we are sharing good news about Bitcoin anytime to get more people that will adopt Bitcoin globally.

Some stories been shared here are fake, but they help to give motivation; but whenever a newbie is trying to invest in Bitcoin, they need to do research and also learn the basics of Bitcoin, blockchain, and cryptocurrency so that they will know what exactly they are doing and where they are putting their money into.

We don’t expect to see people sharing negative stories because that will only develop some fears into newbies, but instead it’s a good thing to see successful stories because that will definitely motivate and convince the newcomers to finally invest in bitcoin due to its highly profitable potentials. Not only in bitcoin but even in different life’s aspects, people prefer sharing beautiful and motivating stories in order to inspire others, not to threaten with failures and losses behind the success.

[Zanab247]

I have seen new investors being carried out by seeing the success of big bitcoin investors. But , this is wrong approach in my opinion. Because, I personally feel that most of the people fail and they will never share their story. So, most of the stories that new guy searches , he will find only good success stories. But that is not correct overall picture. One should keep the limitations of crypto in mind as well. What is your opinion about this ?

The reason why some people share their stories good or bad here is for others people to learn from them to improve, but don't give your 100% trust on those stories without your personal research before you can follow the same strategy to earn profits.

If you have the skills about the industry, you don't need to follow the story of others people success to succeed op, because every successful investors you seen in the industry has some sacrifices they had pay to achieve those wealth in the society

I believe some limit crypto to discourage others people who don't have the knowledge about crypto, but those that have the knowledge of crypto, it will be very hard for them to deceive such people that have the knowledge of crypto in the industry.

[darewaller]

I have seen new investors being carried out by seeing the success of big bitcoin investors. But , this is wrong approach in my opinion. Because, I personally feel that most of the people fail and they will never share their story. So, most of the stories that new guy searches , he will find only good success stories. But that is not correct overall picture. One should keep the limitations of crypto in mind as well. What is your opinion about this ?

You're right that the cryptocurrency space is often plagued by survivorship bias where only successful stories are shared creating a distorted view of reality. This can lead to unrealistic expectations and a lack of awareness about the potential risks and limitations. New investors need to have a balanced understanding of both, the possible benefits and drawbacks of investing in cryptocurrencies. They should research thoroughly beyond just success.

Secondly, stay up-to-date with market trends and developments. Diversify their investments to minimize risk. And lastly, be cautious of unrealistic promises or guaranteed returns. Your advice is invaluable, acknowledging the limitations and potential pitfalls new investors can make informed decisions and navigate the cryptocurrency landscape with greater wisdom.