Newbies focus on buying Bitcoin, ignore the noise about other cryptocurrencies

[aoluain]

Most newbies don’t really have proper knowledge about what crypto is all about, they just hear people talk about it, and they will also want to jump into it. Most of them are always brainwashed by people to invest in different coins, and they are always following them blindly without doing any research, but at the end they do end up losing money. Some of them do pay for signal providers, so any coin recommended, then they will invest, and some do invest based on some influencers they are following on social media.
 
...

most of the newbies get information about the token that they want to invest, whether from telegram, youtube videos, or other unclear sources. very rarely newbie uses trusted sources such as coinmarketcap, reading whitepaper, or other credible sources that they can use for research on their token. their ignorance of this causes them to often fall on the wrong investment because what they do is only listening to what people say or influencer, without understanding what they invest and how the risks are if they put money on it.

what the newbie should do is that they need to strengthen their understanding of the token they want to invest, and be more careful of new tokens and not be trapped by other people's words that they can quickly be rich if they invest in any token.

Yea I agree, the "Influencer" factor on social media is a massive amount of useless information and
noise in the crypto space, I liken them to scam operators like HYIP schemes and they cover themselves
with statements like "This is not financial advice" "it is meant as entertainment".

Their videos and "recommendations" are so easy to attract newbies to use their referral codes and links.

What newbies need to realise is that:

1. they dont have to try and own a full Bitcoin, they can hold Satoshi amounts also
2. getting into everything other than Bitcoin is really a gamble as to whether their chosen crypto will "Pump"
as they so desperately want.

[Publictalk792]

Most newbies fail to do their own research,if they do,they will understand that Bitcoin isn't too expensive to buy,when they do their own research they'll understand that one can buy fractions of Bitcoins.Most persons wouldn't focus on purchasing Bitcoin even after explaining in details to them about the darkside of shitcoins,they would always want to learn from the hard way.The only thing I can do is to tell a newbie never to invest their hard earn money on coins that will lose its value in the next 2-3 years,and won't retain it's value again.Newbies are always advised to invest only on Bitcoin because Bitcoin has proven to pump even after several years of price decline,but those worthless coins will dump and never pump again,the major reason why most newbies are overwhelmed on investing in shitcoins is the quick profit.
A guy in my neighborhood was an active shitcoin investor,I told him about pump and dump scheme as a caring neighbor,he ignored the fact and he saw the outcome of shitcoins and right now his into Bitcoin.All I'm trying to say is,most times people shouldn't be forced to do the right things,let them make their own decisions and face the action of their decisions.

I completely agree with you. Many new people who invest in cryptocurrencies do not do their own research and do not understand risks. They mostly get tricked into investing in bad cryptocurrencies that promise fast profits without realizing that these coins will probably lose their value soon. It is very important to teach new investors about importance of investing in good cryptocurrencies like Bitcoin which has always shown its value over time. However as you said people mostly need to learn from their own mistakes. It is very important to give guidance and warnings but in end people must make their own decisions and deal with results.

[avp2306]

Most newbies fail to do their own research,if they do,they will understand that Bitcoin isn't too expensive to buy,when they do their own research they'll understand that one can buy fractions of Bitcoins.Most persons wouldn't focus on purchasing Bitcoin even after explaining in details to them about the darkside of shitcoins,they would always want to learn from the hard way.The only thing I can do is to tell a newbie never to invest their hard earn money on coins that will lose its value in the next 2-3 years,and won't retain it's value again.Newbies are always advised to invest only on Bitcoin because Bitcoin has proven to pump even after several years of price decline,but those worthless coins will dump and never pump again,the major reason why most newbies are overwhelmed on investing in shitcoins is the quick profit.
A guy in my neighborhood was an active shitcoin investor,I told him about pump and dump scheme as a caring neighbor,he ignored the fact and he saw the outcome of shitcoins and right now his into Bitcoin.All I'm trying to say is,most times people shouldn't be forced to do the right things,let them make their own decisions and face the action of their decisions.

I completely agree with you. Many new people who invest in cryptocurrencies do not do their own research and do not understand risks. They mostly get tricked into investing in bad cryptocurrencies that promise fast profits without realizing that these coins will probably lose their value soon. It is very important to teach new investors about importance of investing in good cryptocurrencies like Bitcoin which has always shown its value over time. However as you said people mostly need to learn from their own mistakes. It is very important to give guidance and warnings but in end people must make their own decisions and deal with results.

Most of them just invest just put their money on unknown project and they rely only on the hype brought up by people recommending. It they didn't even bother to do a background check before participating that's why we see lots of those newbie people fall on scam trap set up by those project owner who deceive newbie individuals. This is the reason why research is importance and if they know that lots of new crypto is just a scam.

If they want to invest on which they have more better chance to earn without getting much any worries about what will happen on future they better deal with Bitcoin since so far there's no other better option especially if we talk about long term investment aside from this coin.

They will only deal with negative results if they keep engaging with those shitcoins and think about doing short term with those scams.

[Abbatty]

Not just newbies but it goes to everyone who is into cryptocurrency should invest into bitcoin than other Altcoins, but then like your said OP most people don’t actually have the funds to buy bitcoin so instead they just feel they should buy other Altcoin and be also in the same train with others who are into cryptocurrency. Another big reason is that most people again don’t really make research or proper information before going into cryptocurrency so they just end up buying a lot of shitty coins and end up losing alot of funds.

The thing again is that is not that if you invest in Altcoins you lose, it a gamble and their are people who buy alt coins and wait for it to pump and they sell off. To be on a safer side as a newbie it advisable to invest in bitcoin because of the stability. So just like the OP said ignore other cryptocurrencies and invest in bitcoin.

[Patikno]

but then like your said OP most people don’t actually have the funds to buy bitcoin so instead they just feel they should buy other Altcoin and be also in the same train with others who are into cryptocurrency. Another big reason is that most people again don’t really make research or proper information before going into cryptocurrency so they just end up buying a lot of shitty coins and end up losing alot of funds.

If we use this explanation and make another statement based on the correlation between the lack of funds and the decision in buying Altcoin instead of Bitcoin, we could conclude that there are some people out there buying Bitcoin because they are expecting better return with very little money, especially with airdrop news and its new DeFi listing that some people use these momentums to buy or sell their Altcoin regarding of its safety or long term risk, they just want the short term one using those momentums.

The thing again is that is not that if you invest in Altcoins you lose, it a gamble and their are people who buy alt coins and wait for it to pump and they sell off. To be on a safer side as a newbie it advisable to invest in bitcoin because of the stability. So just like the OP said ignore other cryptocurrencies and invest in bitcoin.

Even when some of them acknowledge that sometimes it could be gambling in buying Altcoin especially if they do not know how to do a proper Fundamental Analysis, notabaly for newbies. They just don't care because they see that they don't really have much to lose with little fund that they have.

[Moreno233]

Not just newbies but it goes to everyone who is into cryptocurrency should invest into bitcoin than other Altcoins, but then like your said OP most people don’t actually have the funds to buy bitcoin so instead they just feel they should buy other Altcoin and be also in the same train with others who are into cryptocurrency. Another big reason is that most people again don’t really make research or proper information before going into cryptocurrency so they just end up buying a lot of shitty coins and end up losing alot of funds.

The thing again is that is not that if you invest in Altcoins you lose, it a gamble and their are people who buy alt coins and wait for it to pump and they sell off. To be on a safer side as a newbie it advisable to invest in bitcoin because of the stability. So just like the OP said ignore other cryptocurrencies and invest in bitcoin.

Considering the board where the post is made, and the fact that those who have been in this space for some years would have already known that Bitcoin is the way to go as they would have made mistakes of holding shitcoins and lost money to them. So, to help newbies and prevent them from making such mistake is the reason the post was made. Even experience guys who invest in some of these tokens, they already know that the best approach is to convert to Bitcoin or stablecoin as quickly as possible when the hype is high and never to hold. It is usually newbies that fall victim of holding shitcoins.

[mvdheuvel1983]

Not just newbies but it goes to everyone who is into cryptocurrency should invest into bitcoin than other Altcoins, but then like your said OP most people don’t actually have the funds to buy bitcoin so instead they just feel they should buy other Altcoin and be also in the same train with others who are into cryptocurrency. Another big reason is that most people again don’t really make research or proper information before going into cryptocurrency so they just end up buying a lot of shitty coins and end up losing alot of funds.

The thing again is that is not that if you invest in Altcoins you lose, it a gamble and their are people who buy alt coins and wait for it to pump and they sell off. To be on a safer side as a newbie it advisable to invest in bitcoin because of the stability. So just like the OP said ignore other cryptocurrencies and invest in bitcoin.

Considering the board where the post is made, and the fact that those who have been in this space for some years would have already known that Bitcoin is the way to go as they would have made mistakes of holding shitcoins and lost money to them. So, to help newbies and prevent them from making such mistake is the reason the post was made. Even experience guys who invest in some of these tokens, they already know that the best approach is to convert to Bitcoin or stablecoin as quickly as possible when the hype is high and never to hold. It is usually newbies that fall victim of holding shitcoins.

The reason for creating this post is simple and the message has been passed newbies must have learnt so well after coming across the post and the people that has been here for a long time is already aware of their information but it will serve as a reminder so that they would not fall victim again in trying to rely on any shit coins they come across. Bitcoin has proven to be more reliable and dependable than any other cryptocurrency this is the main reason why it is advisable for newbies to invest in Bitcoin to ensure they do not encounter losses in their investments.

[Wonder Work]

Considering the board where the post is made, and the fact that those who have been in this space for some years would have already known that Bitcoin is the way to go as they would have made mistakes of holding shitcoins and lost money to them. So, to help newbies and prevent them from making such mistake is the reason the post was made. Even experience guys who invest in some of these tokens, they already know that the best approach is to convert to Bitcoin or stable coin as quickly as possible when the hype is high and never to hold. It is usually newbies that fall victim of holding shitcoins.

Your point is correct because the first point you made is important. Bitcoin is the only coin in the crypto world that does something good. I have not seen anything like that from any other coin other than Bitcoin so far. Although my journey is short, in this journey, I have not seen anything so far that has made a good profit in any other coin.

Those who are on the Bitcoin forum must know this and believe that BTC is the only coin in which it is possible to earn a good return on investment.

Our main goal is to help those new to learn about Bitcoin and what kind of investment will not cause them to lose their money, and we will give them ideas about these things. However, beginners can learn well if they want; they can go towards altcoins, it is their matter, but they have to understand how to do it and the height of the token. If they want to maintain everything and invest in altcoins for a short period, then they can do so, it is their personal matter, but we want to let them know that they must prioritize stable coin for investment. If they do not prioritize stable coin or Bitcoin, then it will be seen that they will lose money.

[Marykeller]

For newbies who don't understand how the crypto market works, investing in Bitcoin should be what comes to their mind, not on altcoins because that's a big gamble if they don't understand altcoins to be for the short term not for the long term.

Thinking altcoins to be for the long term is the worst mistake a newbie can make. It's only Bitcoin that is worth having for the long term because there is always a tendency for its price to skyrocket in the future and give you many profits.

If a newbie does understand altcoins to be for the short term, investing in potential coins should be advice but let it lie on, having a price target and investing with their spare money

[GeorgeJohn]

The greatest mistakes most newbies make is to pursue quick wealth which they believe they will get from low cap tokens since they assume that Bitcoin have become too expensive. Due to this approach, a lot of newcomers waste fortune to shitcoins and scams, chasing the next big pumps and before they realize that Bitcoin is the real deal and the asset that will guarantee that their money is not lost.

I am therefore encouraging newbies to start investing in Bitcoin and never yield to the hypes going on that there is a shortcut to wealth via newly lunched projects that will pump hard following some supposed expert marketing. While getting proper knowledge, you can start investing and set 5 to 10 years target and see how happy you will be with Bitcoin.

a beginner in cryptocurrency to ask questions before the inventure into cryptocurrency investment because two things is into cryptocurrency investment on the process of investing it is neither you invest wrongly or you invest to the one that will lead you to a profit side of investment, so in cryptocurrency you have to understand that bitcoin is the only cryptocurrency that you can invest and also make a profit but only thing that you needed for investing in Bitcoin is for you to exercise patient so from my own understanding if a new person who does not know cryptocurrency want to start investment with cryptocurrency the person should move down directly to invest with bitcoin first

[RockBell]

I completely agree with you. Many new people who invest in cryptocurrencies do not do their own research and do not understand risks. They mostly get tricked into investing in bad cryptocurrencies that promise fast profits without realizing that these coins will probably lose their value soon. It is very important to teach new investors about importance of investing in good cryptocurrencies like Bitcoin which has always shown its value over time. However as you said people mostly need to learn from their own mistakes. It is very important to give guidance and warnings but in end people must make their own decisions and deal with results.

A lot of people don't want learn they just want an easy way and there is no easy way you want to invest then the cross of learning should be a priority because the mood of operations in bitcoin is different from other finance sector, it is when you understand the risk that you will be able to know exactly what you are avoiding, but when there is no knowledge then any other thing as no difference with a blind person but when the knowledge is available.

There are periods that majority of this investment won't yield anything so it is better to have a vision and define what the business is about so that you don't do blind investments, teaching new investors is good but it is not everyone that will agree with what you are teaching them and there people that they will feel that they don't need any other persons advice but everyone is important when it comes to this circle.

And we learn everyday so this are the things we even consider before starting anything that is when it is advice to start when learning is the first thing to learn, and to me investing in bitcoin is still something I believed so much in than altcoins.
[/quote]

[Justbillywitt]

We can share different sentiments on this and still have the same goal. Yes, it is true that newbies should focus on buying Bitcoin but there is also another side of the argument that newbies who understand how cryptocurrency work and have done their home work can also invest in other altcoins with the goal of cashing out when it pumps and investing it in Bitcoin.

It is all about our timing, knowledge and still following the fundamentals one of which is to invest only the amount that if it is lost , you won't be pained. And if you as a complete newbie don't know where to start, start with Bitcoin, it is the safest.

To me I don't really care about whatever timing or fundamentals, there are some mistakes and losses that can be avoided if newbies stay away from shitcoins. It's fine if you invest money you can lose and won't be pained in bitcoin, rather than investing it in shitcoins. If you eventually lose that money you will definitely regret it, because the option to invest in bitcoin that has never failed was there. Newbies should stay clear from shitcoins, that's my own submission. When you say newbies who understand how crypto currencies works, I won'der what you are saying, because anyone who really understands how crypto currencies works, to the point of doing his homework work, is no longer a newbie. When we are talking of newbies, let's look at people who have no knowledge about bitcoin and how it works. They are just taking their first step in making their first investment in digital asset. These set of people should avoid shitcoins and focus only on bitcoin.

[Ever-young]

The reason for creating this post is simple and the message has been passed newbies must have learnt so well after coming across the post and the people that has been here for a long time is already aware of their information but it will serve as a reminder so that they would not fall victim again in trying to rely on any shit coins they come across. Bitcoin has proven to be more reliable and dependable than any other cryptocurrency this is the main reason why it is advisable for newbies to invest in Bitcoin to ensure they do not encounter losses in their investments.

Funny enough, this type of post can be found on the internet and also on this forum, but some people don't pay attention to it, and even if you pin it at the beginning of all threads, they will still skip it because they want to learn the hard way. 
 
I often come across some posts from a few people who just happened to join the crypto space newly and how they were victims of rug pulls and other forms of scams due to them not being informed enough about the same platform they discovered to come and share their pains. If you search very well, you will see educative posts warning against such scams.

[HajiBagi]

The greatest mistakes most newbies make is to pursue quick wealth which they believe they will get from low cap tokens since they assume that Bitcoin have become too expensive. Due to this approach, a lot of newcomers waste fortune to shitcoins and scams, chasing the next big pumps and before they realize that Bitcoin is the real deal and the asset that will guarantee that their money is not lost.

I am therefore encouraging newbies to start investing in Bitcoin and never yield to the hypes going on that there is a shortcut to wealth via newly lunched projects that will pump hard following some supposed expert marketing. While getting proper knowledge, you can start investing and set 5 to 10 years target and see how happy you will be with Bitcoin.

It is not bad to invest in Shitcoin but put it in mind that anything can happen with the investment, some newbies find it difficult to understand that Shitcoin is like gambling because as you invest in Shitcoin what you will be thinking is that either you lose or you gain, As a newbie you should understand that Bitcoin is the best investment that you can believe that no matter how it will be very difficult for the investor to think that he will lose what he invests.

Investing is the best option for every newbie, although everybody has their own choice doing the best thing is what is good and it will be good if a newbie invests in Bitcoin so he or she will never regret knowing about Bitcoin and will make many people believe in Bitcoin, I will never advise anyone to buy any other coin that is not Bitcoin because when it didn't go well as the expected I should not be blamed about it.

[Stable090]

The greatest mistakes most newbies make is to pursue quick wealth which they believe they will get from low cap tokens since they assume that Bitcoin have become too expensive. Due to this approach, a lot of newcomers waste fortune to shitcoins and scams, chasing the next big pumps and before they realize that Bitcoin is the real deal and the asset that will guarantee that their money is not lost.

Most newbies don’t even know about the shitcoin they are investing in, some of them just see those coins being promoted on social media, and they will pick an interest in it just because they are looking for quick money, and when those coins get promoted, they are always promising high rewards, and most people are always falling for it, which at the end, they will end up being scammed. It’s better to invest in bitcoin and have patience rather than investing in random shitcoins, where the chances of losing money are so high.

Most newbies believe the crypto space is a place where you can easily make money, but it’s not like that. If you are looking for quick money in the crypto space, then you will end up being scammed, because if it were easy to make money in the crypto space, then everyone would have been rich. If you want to make money in the crypto space, there are some things that you are supposed to know.

[Porfirii]

The greatest mistakes most newbies make is to pursue quick wealth which they believe they will get from low cap tokens since they assume that Bitcoin have become too expensive. Due to this approach, a lot of newcomers waste fortune to shitcoins and scams, chasing the next big pumps and before they realize that Bitcoin is the real deal and the asset that will guarantee that their money is not lost.

Most newbies don’t even know about the shitcoin they are investing in, some of them just see those coins being promoted on social media, and they will pick an interest in it just because they are looking for quick money, and when those coins get promoted, they are always promising high rewards, and most people are always falling for it, which at the end, they will end up being scammed. It’s better to invest in bitcoin and have patience rather than investing in random shitcoins, where the chances of losing money are so high.

-snip-

Exchanges themselves advertise these coins and tokens in their front page, via email, etc. with beautiful percentages in green that make you feel the fear of missing out (obvious: they make money every time you trade, not every time you earn).

On the other hand, history has favored holders, as many foresaw, but there is also a little component of chance in this, and it could've been different if events happened in a different way, and other coins surpassed BTC.

[2Pizza410000BTC]

The greatest mistakes most newbies make is to pursue quick wealth which they believe they will get from low cap tokens since they assume that Bitcoin have become too expensive. Due to this approach, a lot of newcomers waste fortune to shitcoins and scams, chasing the next big pumps and before they realize that Bitcoin is the real deal and the asset that will guarantee that their money is not lost.

I am therefore encouraging newbies to start investing in Bitcoin and never yield to the hypes going on that there is a shortcut to wealth via newly lunched projects that will pump hard following some supposed expert marketing. While getting proper knowledge, you can start investing and set 5 to 10 years target and see how happy you will be with Bitcoin.

As you said, there are many people who expect a lot from very low priced coins. I can also say that I am one of those people because I have some coins from which I am waiting for something good to happen. I have bought some very cheap coins besides Bitcoin like Shibainu, Pepe, Bome, Dogs, Bonk. I can expect something good from all the coins that I have bought because all these coins can achieve good positions in the future. I have heard from many people that all these coins will move to a good position by 2026 or 2030.

In fact, people expect a lot of success from very low-cost coins because there are some coins that have given people much more than they asked for. There are some coins where people have made a lot of money by investing very little. But I think it's a matter of luck to get all these projects, maybe not everyone gets such projects.

[ultrloa]

The greatest mistakes most newbies make is to pursue quick wealth which they believe they will get from low cap tokens since they assume that Bitcoin have become too expensive. Due to this approach, a lot of newcomers waste fortune to shitcoins and scams, chasing the next big pumps and before they realize that Bitcoin is the real deal and the asset that will guarantee that their money is not lost.

I am therefore encouraging newbies to start investing in Bitcoin and never yield to the hypes going on that there is a shortcut to wealth via newly lunched projects that will pump hard following some supposed expert marketing. While getting proper knowledge, you can start investing and set 5 to 10 years target and see how happy you will be with Bitcoin.

It is not bad to invest in Shitcoin but put it in mind that anything can happen with the investment, some newbies find it difficult to understand that Shitcoin is like gambling because as you invest in Shitcoin what you will be thinking is that either you lose or you gain, As a newbie you should understand that Bitcoin is the best investment that you can believe that no matter how it will be very difficult for the investor to think that he will lose what he invests.

Investing is the best option for every newbie, although everybody has their own choice doing the best thing is what is good and it will be good if a newbie invests in Bitcoin so he or she will never regret knowing about Bitcoin and will make many people believe in Bitcoin, I will never advise anyone to buy any other coin that is not Bitcoin because when it didn't go well as the expected I should not be blamed about it.

If they don't know on what they are doing and just riding with the hype spread by random individual online then provably that they are doing some bad approach the way how they invest with those shitcoin. Also its not advisable to engage with this knowing there's a lot of scams there. So if they really don't want to lose their money then better they should stop thinking about taking a risk with those shitcoins.

And I will never advice anyone to go on this option since for me there's Bitcoin is the most ideal coin to deal with people. Although there's still a risk for buying it, but I guess they can take advantage on its huge potential.

[Tmoonz]

The greatest mistakes most newbies make is to pursue quick wealth which they believe they will get from low cap tokens since they assume that Bitcoin have become too expensive. Due to this approach, a lot of newcomers waste fortune to shitcoins and scams, chasing the next big pumps and before they realize that Bitcoin is the real deal and the asset that will guarantee that their money is not lost.

I am therefore encouraging newbies to start investing in Bitcoin and never yield to the hypes going on that there is a shortcut to wealth via newly lunched projects that will pump hard following some supposed expert marketing. While getting proper knowledge, you can start investing and set 5 to 10 years target and see how happy you will be with Bitcoin.

It is not bad to invest in Shitcoin but put it in mind that anything can happen with the investment, some newbies find it difficult to understand that Shitcoin is like gambling because as you invest in Shitcoin what you will be thinking is that either you lose or you gain, As a newbie you should understand that Bitcoin is the best investment that you can believe that no matter how it will be very difficult for the investor to think that he will lose what he invests.

Investing is the best option for every newbie, although everybody has their own choice doing the best thing is what is good and it will be good if a newbie invests in Bitcoin so he or she will never regret knowing about Bitcoin and will make many people believe in Bitcoin, I will never advise anyone to buy any other coin that is not Bitcoin because when it didn't go well as the expected I should not be blamed about it.

If they don't know on what they are doing and just riding with the hype spread by random individual online then provably that they are doing some bad approach the way how they invest with those shitcoin. Also its not advisable to engage with this knowing there's a lot of scams there. So if they really don't want to lose their money then better they should stop thinking about taking a risk with those shitcoins.

And I will never advice anyone to go on this option since for me there's Bitcoin is the most ideal coin to deal with people. Although there's still a risk for buying it, but I guess they can take advantage on its huge potential.

The honest truth is that even though Bitcoin has it's own risk it can never be compared to that of investing in shitcoins, investing in Bitcoin gives certain level of peace of mind which can never in any way be compared having dealings with shitcoins. However, newbies should puts off eyes on shitcoins and focus more on Bitcoin and approach their investment without any form of emotions, there is hope and evident enough to encourage newbies to invest in Bitcoin and Bitcoin alone than being distracted by  any shitcoins, one of the major problem with newbies is that majority are only looking for a quick and get rich scheme than growing an investment.

[Hatchy]

I am therefore encouraging newbies to start investing in Bitcoin and never yield to the hypes going on that there is a shortcut to wealth via newly lunched projects that will pump hard following some supposed expert marketing. While getting proper knowledge, you can start investing and set 5 to 10 years target and see how happy you will be with Bitcoin.

People makes money from shit coins too.. but it's not going to be as easy as hodling Bitcoins. Those meme coins are very volatile and unpredictable. Most times their developers create them as a pump and dump scheme and ones they get enough investors and market cap, the rugg the project leaving the investors with bags of worthless tokens. Newbies should try to invest in Bitcoin and hodl. It's the best investment you can ever take part in. You won't get rich quick, as that not how Bitcoin works but with time you accumulate and increase your Bitcoin portfolio...