One mistake means one lesson for bitcoiner

[arzuo]

In the Bitcoin BTC world, every mistake creates a story.


# If You Sent to the wrong address?
    $ You learned about step and finality.


# If you bought from the top / high price?
   $ Then You discovered and learned that emotions are not any strategies.


# If you trusted any centralized exchange to much?
$ You found the meaning and learned that "Not your keys, not your coins."!!


# If you Sold too soon?
 $  You have learned about the power of patience and the power of Bitcoin.

# If price go down after your bought  and want to find the reason?
 $ You learned about market manipulation and trading fud / fomo

Bitcoin doesn’t forgive. It teaches you with every mistake. And its never go down we just face market manipulation its always break ATH !!

[TheUltraElite]

Yeah this asset is unforgiving and that is why buying it comes later, learning how to handle these things like securing a wallet, knowing that transactions are irreversible and that one has to be extra careful when dealing with money in this form.

I can say that someone who does all this properly will become a new type of human who is capable to doing something on their own and not depend on others.

About trading on the market, that is a different ballgame. First one needs to secure their wallet and not store coins on exchanges.

[cabron]

One mistake that really made someone can't forgive himself is sending a large sum all because of his fat finger. Funny I've seen few threads about this, just couldn't see myself having this mistake even if I have a fat finger myself. Either the guy is in a hurry doing it or his eyes is just not 20/20.

But yep one mistake can really make you regret it. The worse I think when you are scammed by an obvious scammer yet you are convinced to send coins.

[Jewan420]

Checking the address while exchanging is very important. Basic knowledge of using a wallet. During each transaction, we should complete the transaction carefully so that you do not make any mistakes and the crypto assets do not go to the wrong address.

Keeping your wallet safe and secure is the most important and main task while trading Bitcoin. Then analyze the market and enter the trade. But I advise you to be aware of the risks of Bitcoin. Another thing is, never store coins on centralized exchanges. Because we are already familiar with exchange scams

[Oshosondy]

# If price go down after your bought  and want to find the reason?
 $ You learned about market manipulation and trading fud / fomo

You mean market manipulation fud? That is true because there is no market manipulation whatsoever in bitcoin as it is in altcoins. If the price is falling, just be patience and buy more so that when bitcoin price increase back, you will soon start to earn money from it earlier also. What we know is that you do not need to sell you BTC when it falls because it will rise back up and get to ATH.

[yhiaali3]

I don't prefer to say, as you do, that Bitcoin is unforgiving. Rather, I prefer to say that it teaches us to be more cautious, safer, and more careful in our investment or financial trading decisions.

Bitcoin teaches us the proper way to properly safeguard our valuable assets: "Not your keys, not your coins." We learned to own our assets in real terms, not in virtual ones, as is the case with centralized platforms and banks.
Making mistakes is not a bad thing, but what is bad is not learning from them, because in the end, mistakes are our greatest teachers.

[Nanga Parbat]

One person have to keep many things in the mind when he want to invest money in cryptocurrency and Bitcoin.  You are holding the BTC and miners are in profit because they invested a lot money in that. Always double check when you are sending the BTC and you could lose your all money because that is very costly for you . I saw many people who did mistake and transaction was not correct and they lost their all investment. Always analyse the graph which matters a lot because if you bought at high price then price will go down due to market trends and politics.You will face big lose due to less knowledge about BTC ,So always try to learn more things and Invest more money if you have and make sure you have safe investment.

[Floxynice]

Bitcoin teaches one to be conscious, careful, alert, and active at all times. Imagine unconsciously sending bitcoins to the wrong address or sending more than the amount you actually wanted to send.

Imagine disclosing your seed phrase to other parties whom you assume are friends and family who deserve to know everything about you since you don't keep secrets and they don't either, only to find out that your wallet has been wiped by an unknown sender.

Imagine discussing happily with total strangers who claim they want to help you fix some things in your wallet or double your investment in just a short while. But before then, you must send them your seed phrase or some bitcoins to facilitate everything, only to find out too late that they were scammers and not your helpers.

Investing in Bitcoin has taught me a different level of security consciousness, which I carry around everywhere I go.

[mindrust]

That’s the idea. Every time you made a mistake you should learn something from it. That’s the only way to make progress. If you cry and get mad just because you failed, you’ll never have a chance to make a comeback. You’ll only keep failing that way.

Smart people are not perfect. They are smart because they rarely repeat mistakes. Dumb people on the other hand refuse to acknowledge their failures. They don’t take responsibility for their actions. You gotta be honest with yourselves folks.

We all live once but most of the time we always have a second chance to get rich.(sometimes there is even a third if you are lucky)

[apogio]

I only hope it wasn't only Bitcoin that is unforgiving in life

But, I am pretty sure when Gold became a thing, it was unforgiving as well. It was easy to lose, difficult to carry around etc.

Everything has its pros and cons, and I believe bitcoin will be established and people will be used to it eventually.

[Alphakilo]

In the Bitcoin BTC world, every mistake creates a story.


# If You Sent to the wrong address?
    $ You learned about step and finality.

Here, you also learn that you much double check the address from the start and from the end before you hit send. Being attentive and never in a hurry.

# If you trusted any centralized exchange to much?
$ You found the meaning and learned that "Not your keys, not your coins."!!

In addition, even if the exchange decides to refund monies just as we can see with Mt. Gox , it is going to take a long time and you may have to deal with the emotional trauma and any other negative way it will affect your health. The value of it would have been lost.

[Obim34]

This is a well composed thread that matches reality. Most people who fall victim of sending to the wrong address do so because of factors either be in the wrong state of mind, copying wrongly or trying to be fast about the transactions. I have learned from outside experience concerning transferring Bitcoin, i don't send my Bitcoin even when am tipsy everything related to transactions are put on pause.

Mistakes are not supposed to be made for the second time, might not recover from the losses if its dealt on huge amount.

[Fiatless]

Bitcoin is not like fiat where funds sent to the wrong address can be traced and retrieved since the owner of the account is known. This is why it is important to recheck the address before hitting the send button.

Bitcoin as an investment is a risk. If you are impatient or listen to fud, there is a high possibility that you might not make a profit. Predicting the ATH is difficult. It will be better to have a target and sell when you are satisfied with your profit.

[Maslate]

Generally, every mistake brings a lesson to ponder. The important thing is, you learned. However, the sad thing is, every mistake brings losses as well, especially in bitcoin where every portion of it is highly valuable. So as much as possible, do not rush into a decision where emotions are involved because for sure, that will only lead into a negative outcome. Think, analyze and study every point of action, that’s the best way to avoid committing mistakes in order to avoid losses as well.

[Ruttoshi]

If you use money for your needs or important things to buy bitcoin, you will learn that bitcoin is not a get rich quick scheme but a long-term investment.

Any mistake that you make in bitcoin, you will learn in the hard. This is why one need to be very careful when dealing with with bitcoin in order to limit the risk involved.

[Questat]

This only proves how risky bitcoin is. If you rush into entering bitcoin investment, without getting aware of the risks and how to overcome them, then you will really learned a big lesson after.

However, we should know that mistakes can be sometimes inevitable, but they can also be minimized as well as long as we get familiarized on how to prevent from getting mistakes too often. Either way, all investments have certain risks, that’s why we should be wise enough on knowing when to make the best entry and its best exit.

[Lida93]

Hard truths but these are experiences as a new person in cryptocurrency you'll have to encounter if you're not careful but in too much haste in taking actions ranging from funds transfer to an address, to security of funds in wallet and privacy control, etc.

With every mistake you get to understand better the environment you have find yourself. Emotions doesn't pay in this environment and that's why growing a thick skin becomes the only option to be able to survive it.

[sheenshane]

When making a transaction, always remember that Bitcoin is irreversible.
Make sure that you don't make mistakes during the transaction process, as failing to learn from those errors could lead to costly consequences again.  
So, always be careful when making a transaction, double or triple-check the address to which you are transferring your Bitcoin.

There are numerous potential mistakes you may encounter if you haven't researched the common issues.
Therefore, it's wise to gain knowledge first before using Bitcoin, everything a new bitcoiner should learn is available on this site.
https://bitcoin.org/en/how-it-works

[Botnake]

I don't prefer to say, as you do, that Bitcoin is unforgiving. Rather, I prefer to say that it teaches us to be more cautious, safer, and more careful in our investment or financial trading decisions.

Bitcoin teaches us the proper way to properly safeguard our valuable assets: "Not your keys, not your coins." We learned to own our assets in real terms, not in virtual ones, as is the case with centralized platforms and banks.
Making mistakes is not a bad thing, but what is bad is not learning from them, because in the end, mistakes are our greatest teachers.

True, such term like unforgiving denotes something negative for me, so I don’t prefer to use it as well, but I firmly believe that every mistake that you’ll commit with bitcoin, it’ll end up something valuable to learn. Mistakes do not necessarily mean they need to be totally avoided, because through experience we end up learning the hard way, and that leaves a huge impact that we all need to have.

However, I don’t say to normalize committing mistakes with bitcoin, it’s okay to create mistake as long as you learned from it and stop creating the same mistake again.

[Sanitough]

This is not exclusive for bitcoin but this applies in general as well. Every mistake comes with a lesson, that is already your lapse if you fail to learn and keep repeating the same mistake again. Another thing, where there is mistake, losses follow next, so I guess we have no choice but to actually learn from every mistake, otherwise we won’t grow mentally, emotionally and financially if we are fine doing with various mistakes.