Na misinformation, uninformation or greed

[Barikui1]

My country people good morning inside this morning, today e get thing wey I wan talk about wey we they always do wey no good for us, wey at the very end, we go start to feel regret due to say we encounter serious losses.

I wan ask, if no be misinformation, uninformation or greed, wetin one make an investor wether newbies or veterans to invest heavily on alt or shit coin? When Bitcoin still dey in the market?

I just dy reason this thing since last night because one of my guy just dy complain too me last night how him invest $500 on OBX when the price been dy $0.013 since July 2022, and up till this day, the value drop to $0.0000457, and it refused to climb back, I no even bother to ask am how much remain, but I just feel sorry for am, I only tell am say in this crypto space, make him no carry knowledge and greed play, say na lack of the right knowledge or greed nai put am inside this kind of mess in the first place, so I say make I ask my fellow brother's, apart from misinformed, uninformation or greed, wetin fit make person fuck up like this, when Bitcoin still dey?

[Charles-Tim]

I know a friend that invested $500 on a new project. He was able to withdraw $230 or so. I asked him about the coin last two months, he was able to withdraw not more than $15. Making $245 in total. He lost $255. He was still very lucky than not having anything to withdraw.

If you check last 2 or 3 months. Many country rose in price since last year to that period. But most of the coins really dumped hard after then. Most of the coins, especially new projects like the new memes have possibly gotten to their all-time high. They will become old and people will leave them for new projects which are also risky.

[Tungbulu]

You dey absolutely correct,
Na either of these three reasons you mention here like this go fit make person comot him money go invest for shitcoins, and as if that one no do, e come still go HODL am for the long-term. Na true say e get some altcoins wey dey stand the test of time and e go come gain recognition in the long run still give investors better profits, but the chances of getting the right coin these days nah like 1 out of 100, so to be on the safest side, make people just find way avoid all these shitcoins investment.

Wetin shitcoins do me when I first start the crypto journey, I no go fit from forget am, make me kuku come dey fear to invest in anything shitcoins, if no be Bitcoin I no dey do, and then again, even with Bitcoin self, if person never study how to carry navigate the Bitcoin investment self, e go still get the same result again.
Wetin dey shock me pass for this whole things self nah say, some people go just go invest heavily for one kyn new project wey them no sabi anything about, simply because one of their friend tell them say thr token go perform very well and say them too dry invest in am, and without doimg their due deligence, them go rush go invest, and i believe say e go be one of the things wey do that your friend.

[Ruttoshi]

Get rich quick syndrome is what is the reason why people will leave bitcoin and invest in altcoins because they have been decieved by the dev or Influncers that the coin has the potential of increasing in value like bitcoin which is a BIG lie.

Some people finds it difficult to be patient with life and do things the right way but instead they want to be faster than their shadows which lead to wrong decision making. Most of them know about bitcoin but the patient of investing in bitcoin and grow their bitcoin investment gradually for a long time is their problem because they don't want to get their reward in future but they need it now now.

[SmartGold01]

It's natural for people lose in cryptocurrency especially in altcoin or have you remembered that your gain is another person lose why your lose is another person gain?
Yes this is one thing possible in cryptocurrency because when you have the coin accumulated in your wallet maybe in exchange you would feel that the price going to continue soaring without knowing that the team have their own target of making profit immediately that target is met they cash out big time, so for the new trade that are venturing into the market or new investor which would also feel that the coin going to give them series of x in returns but back fire them maybe could cause huge dump on them.

[Nheer]

My country people good morning inside this morning, today e get thing wey I wan talk about wey we they always do wey no good for us, wey at the very end, we go start to feel regret due to say we encounter serious losses.

I wan ask, if no be misinformation, uninformation or greed, wetin one make an investor wether newbies or veterans to invest heavily on alt or shit coin? When Bitcoin still dey in the market?

It probably misinformation or ignorance or even negligence of the risk involved that get them to such kind of losses. Normally everybody know say na alt coins de more profitable pass but the risk wey de involve suppose make person reason am well before just investing but most people go just ignore all those things and just be fixated on the profit they can make from it ignoring the fact that the risk is higher.

I also do feel for those people but i came to understand that they will learn better from their mistakes and experience, after losing money couple of times e go help reset their brain and understand say alt coins no be the way and dem go understand say their volatility de very higher and most of the times when new projects lose value they find it very difficult to recover na why alot of people still believe Bitcoin and na why bitcoin be the best investment of all coins.

[Juicyhome]

My country people good morning inside this morning, today e get thing wey I wan talk about wey we they always do wey no good for us, wey at the very end, we go start to feel regret due to say we encounter serious losses.

I wan ask, if no be misinformation, uninformation or greed, wetin one make an investor wether newbies or veterans to invest heavily on alt or shit coin? When Bitcoin still dey in the market?

I just dy reason this thing since last night because one of my guy just dy complain too me last night how him invest $500 on OBX when the price been dy $0.013 since July 2022, and up till this day, the value drop to $0.0000457, and it refused to climb back, I no even bother to ask am how much remain, but I just feel sorry for am, I only tell am say in this crypto space, make him no carry knowledge and greed play, say na lack of the right knowledge or greed nai put am inside this kind of mess in the first place, so I say make I ask my fellow brother's, apart from misinformed, uninformation or greed, wetin fit make person fuck up like this, when Bitcoin still dey?

After from Bitcoin there are other altcoins that's good for investment and you will be glad you did, he messed up by not studying the market properly,  is not greedy is just unfortunate the investment turnout badly. Some of the altcoin projects are scammer but few are real but not much investors in it, so it can't grow. Before you invest I'm in any altcoin consult those head of you in cryptocurrency, they will tell which to invest in, to me if you want to invest in Altcoin ethurum should be the only option for me.

[Lida93]

My country people good morning inside this morning, today e get thing wey I wan talk about wey we they always do wey no good for us, wey at the very end, we go start to feel regret due to say we encounter serious losses.

I wan ask, if no be misinformation, uninformation or greed, wetin one make an investor wether newbies or veterans to invest heavily on alt or shit coin? When Bitcoin still dey in the market?

I just dy reason this thing since last night because one of my guy just dy complain too me last night how him invest $500 on OBX when the price been dy $0.013 since July 2022, and up till this day, the value drop to $0.0000457, and it refused to climb back, I no even bother to ask am how much remain, but I just feel sorry for am, I only tell am say in this crypto space, make him no carry knowledge and greed play, say na lack of the right knowledge or greed nai put am inside this kind of mess in the first place, so I say make I ask my fellow brother's, apart from misinformed, uninformation or greed, wetin fit make person fuck up like this, when Bitcoin still dey?

You know nah how them carry deliver the information about the prospect of any coin to some of these people nah dey take ginger them to put heavy money in investing in those shit altcoins. E get how person go praise one particular new coin for you wey be say if you know sabi your way well you go just pack all your savings go chunk am inside thinking say within the next month or more you go just cash out profit. But shitcoins has a way of always disappointing its investors.

People never still scope say nah shikili money them dey use put for altcoins if actually you believe say the coin go do well tomorrow, and no be money wey big. Outside misinformation, na greed the make people carry big money go invest for altcoins, altcoins no need you to put big money before you make better profit. Even $20 go still give you massive profit for better altcoin wey do well las las. But the conclusion of the whole matter be say na bitcoin na just sure pass.

[Iamgoat]

Get rich quick syndrome is what is the reason why people will leave bitcoin and invest in altcoins because they have been decieved by the dev or Influncers that the coin has the potential of increasing in value like bitcoin which is a BIG lie.

We see it practically happening over the new trend of memecoins which are launched from the airdrops today. Like the Altcoins, people are now moving towards the massive adoption of the memecoins as those companies continue to grow up with their big communities. The impression is you can make thousands of dollars worth of those coins once they're listed in the market and I've witnessed cases of people who are moving their investments from the Bitcoin network to sharing them in their memecoins and altcoins due to this believe that they can make fast and quicker profits from those tokens and coins.

Some people finds it difficult to be patient with life and do things the right way but instead they want to be faster than their shadows which lead to wrong decision making. Most of them know about bitcoin but the patient of investing in bitcoin and grow their bitcoin investment gradually for a long time is their problem because they don't want to get their reward in future but they need it now now.

Whetin make plenti people leave the fiat currencies come start to they put eye for bitcoin na because of d believe whey dhem get say bitcoin dey more profitable and more reliable in terms of consistency of growth for investments than d dollar. I don't see anything wrong with such decisions since every one is out there to make profit. The only part which makes me skeptical is those who become too selfish to make the right decisions and are misled by their degree of greed and wrong decisions in the name of looking for profits.

[I_Anime]

My country people good morning inside this morning, today e get thing wey I wan talk about wey we they always do wey no good for us, wey at the very end, we go start to feel regret due to say we encounter serious losses.

I wan ask, if no be misinformation, uninformation or greed, wetin one make an investor wether newbies or veterans to invest heavily on alt or shit coin? When Bitcoin still dey in the market?

I just dy reason this thing since last night because one of my guy just dy complain too me last night how him invest $500 on OBX when the price been dy $0.013 since July 2022, and up till this day, the value drop to $0.0000457, and it refused to climb back, I no even bother to ask am how much remain, but I just feel sorry for am, I only tell am say in this crypto space, make him no carry knowledge and greed play, say na lack of the right knowledge or greed nai put am inside this kind of mess in the first place, so I say make I ask my fellow brother's, apart from misinformed, uninformation or greed, wetin fit make person fuck up like this, when Bitcoin still dey?

This one nah both misinformation and lack of proper knowledge. most people always think they can get rich quick through this space, and this space nah where person go fit gain  or loss. And the reason why i said that is misinformation because some project know how lure people especially those wey dey new  to this space to invest in their lame project and due greed and lack of making research alot of folks will fall victim , leading them to lose their hard earn money.

And the reason why most people don`t invest in bitcoin is because they have not seen the beauty of investing in bitcoin and most of them don`t have solid knowledge on how bitcoin work and stuff.

[CryptopreneurBrainboss]

E no easy for this industry wey we dey so. I know say I dey follow people wey dey advice to focus on investing in Bitcoin but I know say e no go easy for many to follow because me too e no been easy for me when I start to dey invest in industry newly because while you dey get 1x for your own investment your friends dey make 10x and above for shitcoin/altcoins (e go come belike you no dey dey industry) and e go worry you to wan follow them but when you do your own, you go begin lose most times and this particular one na greed but e go some wey be say the cause na say no information was given (like dem no know at all)

I wan ask, if no be misinformation, uninformation or greed, wetin one make an investor wether newbies or veterans to invest heavily on alt or shit coin? When Bitcoin still dey in the market?

All three contributes, the misinformation go be say dem no fit make profits from Bitcoin and na wetin many people dun believe so as dem dey hear for social media from influencers. Not being informed be say no body they encourage them to invest inside Bitcoin and hodl as many of them are getting introduced to the industry through Altcoins so na their dem go advice them to invest and not Bitcoin. The greed own na wetin I explainer above, normally we no dey ever dey satisfied and we want more but end up losing the little we had.

[uchegod-21]

E no easy for this industry wey we dey so. I know say I dey follow people wey dey advice to focus on investing in Bitcoin but I know say e no go easy for many to follow because me too e no been easy for me when I start to dey invest in industry newly because while you dey get 1x for your own investment your friends dey make 10x and above for shitcoin/altcoins (e go come belike you no dey dey industry) and e go worry you to wan follow them but when you do your own, you go begin lose most times and this particular one na greed but e go some wey be say the cause na say no information was given (like dem no know at all)

That feeling dey there, but after I listen to Warran Buffet advice, I learnt my lessons. That man talk say, no be about the return wey you wan get, but na about how much you go lose if you no fit get that return. Na there be the investment focus. And if we examine that him talk, we go understand say bitcoin no go make you lose all only if you get patience but plenty of shit coins go make you lose out for ever.
As senior man talk, e fit give you X10 and e fit collect you too, so e just dey like gambling.

[Mr.right85]

I just dy reason this thing since last night because one of my guy just dy complain too me last night how him invest $500 on OBX when the price been dy $0.013 since July 2022, and up till this day, the value drop to $0.0000457, and it refused to climb back, I no even bother to ask am how much remain, but I just feel sorry for am, I only tell am say in this crypto space, make him no carry knowledge and greed play, say na lack of the right knowledge or greed nai put am inside this kind of mess in the first place, so I say make I ask my fellow brother's, apart from misinformed, uninformation or greed, wetin fit make person fuck up like this, when Bitcoin still dey?

I no know if uninformatiom na really a word but, I go say na lack of proper research cause this one.

The bad thing be say, you no ever fit sure finish even when you do in depth research about a project na why, e dey always Dey advisable say, you work with watin don Dey around and has been known to perform well over the years like Bitcoin and some of the top coins by market capitalization.

Most people Dey look for opportunities in altcoins via say, the prices dey down and you hope say, as you invest at a low, na so so rise you go Dey see and na so your money go grow kwa but, this na mainly based on the project, the developer and the blockchain way them Dey built on.
Once altcoins dump like this, that na to tell you say, people don take profit and with this price as e be so, make your friend just forget am. Even cutting loss no work for here.

[EL MOHA]

After from Bitcoin there are other altcoins that's good for investment and you will be glad you did, he messed up by not studying the market properly,  is not greedy is just unfortunate the investment turnout badly. Some of the altcoin projects are scammer but few are real but not much investors in it, so it can't grow. Before you invest I'm in any altcoin consult those head of you in cryptocurrency, they will tell which to invest in, to me if you want to invest in Altcoin ethurum should be the only option for me.

There is no doubt that the Altcoins sometimes bring about huge profits than bitcoin due to their high volatility but just as you said there are many who of them who are just scams and as such no need to go there thinking of them as investment. Altcoins are just pure gamble that even if you ask the most experienced investors ahead of you they will simply tell you something base on how former similar project has performed, which is still just a risk.


So as in the case of what OP has stated I will say it is pure greed in my opinion and Also misinformation that you can not have a very good ROI with bitcoin compare to other Altcoins, which is true but also you need to know that it also has the same potential to rug

[Kelward]

Get rich quick syndrome is what is the reason why people will leave bitcoin and invest in altcoins because they have been decieved by the dev or Influncers that the coin has the potential of increasing in value like bitcoin which is a BIG lie.

Some people finds it difficult to be patient with life and do things the right way but instead they want to be faster than their shadows which lead to wrong decision making. Most of them know about bitcoin but the patient of investing in bitcoin and grow their bitcoin investment gradually for a long time is their problem because they don't want to get their reward in future but they need it now now.

I reason wetin you talk, your two points make sense, get rich quick scheme and lack of patience de make some greedy investors make mistakes. Wen some people hear say person fit to buy altcoins and within a very short time di price go increase to 100x to 1000x, dem go become greedy and invest plenty money for any hyped project wey dem hear, with di aim of making abnormal profits. In di end most of dis projects na scams dem be and na so dem money go vanish when di crypto become worthless. These people believe say to buy, hodl and wait till bull run before dem go start to cash out dem Bitcoin ROI na long process, dat na why dem prefer to gamble dem money ontop altcoins.

Person wey wan buy altcoins suppose research di project wey im wan buy first, if im de satisfied to buy, make im invest di amount wey im fit to afford to loose.

[Felicity_Tide]

Make I first commend u on how u take construct this post with pigin, in such a way, wey I fit read fluently. I doubt if my pigin go fit flow and dey easy to read/understand like this. Nice job.

And to the post, I think there are clearly two things here. One is being informed (that means u dey aware), while the other one is uninformed ( which means you no dey aware). It might be that your friend is clearly aware of the massive risk attached to shitcoins, but still chooses to purchase some for himself. This is where we can now use the word being greedy . He is being greedy, because he knows that the road to shitcoins investment is merely like gambling, and he is willing to do that by putting his money on the line.

Then, assuming he wasn't aware of such risk, then we can't really blame him or label it as greed, as there was no awareness before hand.

Though, there are people who are living a life of the first point i mentioned (greed). They have the information, but they still choose to take the other way, as they believe it pays faster. Just as some people will say on this forum, There is no such thing as get rich quick. If e work for others, the matter fit cast when e reach ur turn.

[Stepstowealth]

I wan ask, if no be misinformation, uninformation or greed, wetin one make an investor wether newbies or veterans to invest heavily on alt or shit coin? When Bitcoin still dey in the market?

You dun mention most of the reason, but e get one wey be like e suppose dey there, and na "know know"character or "ITK". When someone thinks they know too much and do not need the help or opinions of others on something as important as cryptocurrency and investment in it, they can end up making mistake. Ask questions before you invest for crypto ooo, because misinformation dun dey plenty pass correct news, so we need mount our guard.

[Egii Nna]

so I say make I ask my fellow brother's, apart from misinformed, uninformation or greed, wetin fit make person fuck up like this, when Bitcoin still dey?

I might say he was a victim if such due to lack of research or influence from other crypto investors because it might be he was in one of the social media and saw a post about it, then he just decided to go and invest in it without having his own personal research on it. That is why he was a victim of such incidents, but to be sincere, if he had invested in bitcoin or any coin that has more popularity, he might have definitely made his profit. 
 
Although what happened to him is also an experience, he will identify his mistakes and try his best not to repeat such mistakes any more in the sense that in any failure they will most likely be a lesson. Although it is not funny, all this can make someone lose interest in crypto investment, but the fact is that he is also greedy. If not, what was his reason for investing in such an altcoin?

[CryptoHeadlineNews]

I just dy reason this thing since last night because one of my guy just dy complain too me last night how him invest $500 on OBX when the price been dy $0.013 since July 2022, and up till this day, the value drop to $0.0000457, and it refused to climb back, I no even bother to ask am how much remain,

From my small knowledge about mathematics, make I try to disect this equation to know how much wey eh fit dey likely to remain for him wallet address after the price dropped drastically.

So since the price of coin wey he buy back then in 2022 na $500 worth of it at $0.013 per OBX, them that means the amount wey he for get na $500/$0.013 = 38,461 OBX.

So that means the amount of OBX coin wey he buy that time na 38,461

Therefore, since the current price of OBX coin now don drop to $0.0000457, to know the total worth of the total coin now for him wallet should be 38,461 x $0.0000457 = $1.7576677 (i.e approximately $2 ) left in his wallet.

Finally, that means the value of the shitcoin he bought in 2022 with $500, the current value now is below $2. Lolz... This is really funny

[nelson4lov]

The genesis is always a misinformation. The influencers we have nowadays simply show the good side about crypto. "But x and z tokens and stand a chance to become a millionaire in 3 months time". With that kind information, new retail users simply jump in to ajy early stage projected they can lay their hands on and hold it like their life depend on it. Secondly, there is greed and that is the primary reason. I want to believe that OP's friend had the opportunity to sell for some profits but decided to hold on to it for as long as possible to maximize gains. Misinformation just dey too much in crypto and them dey put unrealistic targets in the head of new people and when they don't get that immediate pump.