Crypto industry is full of temptations

[BacktoBasicz]

Hot Take: Not everyone will reach their goals in crypto.

This is not to discourage anyone. But rather to help others wake up if they’re in a trance. Members can talk all day about what you should do, what you should avoid, what you should plan for, what you should consider and etc in the forum and someone still won’t follow through. I am not saying we all should follow one basic template. I know we all have different paths but please consider that being in crypto means facing many temptations.

You will be tempted to sell bitcoin. You will be tempted to buy a new shitcoin. These are all temptations we must avoid or else you will be part of groups of people with no aspirations.

Not a risk taker but I did try investing... Only the amount that I'm okay losing... 

[hero_the_bossman]

Hot Take: Not everyone will reach their goals in crypto.

This is not to discourage anyone. But rather to help others wake up if they’re in a trance. Members can talk all day about what you should do, what you should avoid, what you should plan for, what you should consider and etc in the forum and someone still won’t follow through. I am not saying we all should follow one basic template. I know we all have different paths but please consider that being in crypto means facing many temptations.

You will be tempted to sell bitcoin. You will be tempted to buy a new shitcoin. These are all temptations we must avoid or else you will be part of groups of people with no aspirations.

Not a risk taker but I did try investing... Only the amount that I'm okay losing... 

And what became of it, OP? Welcome to the forum.

[KiaKia]

Temptation is something that humans need to defeat on their own, this is not about crypto space alone, temptation is in everything we do as humans, temptation is everywhere.

Money, love, life etc comes with different temptations, it's something we battle with all the time, the only way to defeat this temptations is seeking for enough knowledge, don't always assume that you have know it all.

Temptation has a brother called greed, they work hand in hand together, if you are always satisfied with what you have there is a high chance that you will defeat most temptations that comes your way.

[Die_empty]

For those with insufficient knowledge, it's easy to sell their Bitcoin and buy shitcoins, hoping for significant profits. But that could be their biggest mistake, since when they sell their Bitcoin, they're throwing away "gold" just to get "shit".

But for those who understand and believe in Bitcoin, they won't be so easily tempted by shitcoins. Since they understand that Bitcoin is more reliable in the long term than those shitcoins --- they're more confident in investing their money and letting it grow over time.

Anyone who lacks knowledge about how the crypto industry works is just lazy. There is information everywhere about Bitcoin and altcoins. Temptations can be easily overcome by accessing and understanding the right information. The advantages and disadvantages of investing in Bitcoin or altcoins can be read from different channels. Those who choose to ditch Bitcoin for altcoins already know the consequences. So they chose to take the risks.   

That's why planning and discipline are crucial. If someone has a get-rich-quick plan from the start, they're fundamentally lacking in good intentions. Forums don't allow for the inclusion of bad advice; the problem is, people find them boring and move on to other sources promising quicker riches.

The get-rich-quick orientation that people have about the crypto industry is the reason why there is a rush to invest during the bull market. As they see the charts going up, they want to buy coins and make a profit within a few days. Some of them end up investing in the wrong coins because of the fake promises of quick, high gains. I tell newbies that any project that promises quick profits should be closely investigated.   

[hero_the_bossman]

Temptation is something that humans need to defeat on their own, this is not about crypto space alone, temptation is in everything we do as humans, temptation is everywhere.

Money, love, life etc comes with different temptations, it's something we battle with all the time, the only way to defeat this temptations is seeking for enough knowledge, don't always assume that you have know it all.

Temptation has a brother called greed, they work hand in hand together, if you are always satisfied with what you have there is a high chance that you will defeat most temptations that comes your way.

These two "bros" should never be bigger than cold analysis and overall risk management.

We may not be always satisfied with the results, but we should anyway strive for better ones

[Danica22]

Temptation is something that humans need to defeat on their own, this is not about crypto space alone, temptation is in everything we do as humans, temptation is everywhere.

Money, love, life etc comes with different temptations, it's something we battle with all the time, the only way to defeat this temptations is seeking for enough knowledge, don't always assume that you have know it all.

Temptation has a brother called greed, they work hand in hand together, if you are always satisfied with what you have there is a high chance that you will defeat most temptations that comes your way.

That's right, temptation exists everywhere in our lives, not just in the crypto industry. The best way to overcome temptation is to control your own greed and to do that, learn to be content with what you have. However, do not let that satisfaction make you lose your drive to grow and improve. What I mean is, restrain your greed, do not try to eliminate it completely. Because to some extent, greed is also a driving force that propels us forward.

[CryptoYar]

Crypto obsession is also genuine threat because investors will be faced with fast marketing and urge to sell their Bitcoin to buy risky investments. Although Bitcoin has been recovering to about $69,000, desire to sell for luxury in short term or chase unregulated memecoins in search of profit mostly results in losing them. I believe that only way to escape trap of over trading and dangerous area of junk coins is to have clear goal such as becoming your own bank. This week, distraction could have reached its highest level with "Extreme Fear" showing score of 7-11; however, most successful investors are those that stick to their long term plans and ignore distraction.

[nemesis_incarnate]

Crypto obsession is also genuine threat because investors will be faced with fast marketing and urge to sell their Bitcoin to buy risky investments. Although Bitcoin has been recovering to about $69,000, desire to sell for luxury in short term or chase unregulated memecoins in search of profit mostly results in losing them. I believe that only way to escape trap of over trading and dangerous area of junk coins is to have clear goal such as becoming your own bank. This week, distraction could have reached its highest level with "Extreme Fear" showing score of 7-11; however, most successful investors are those that stick to their long term plans and ignore distraction.

I wonder what investors would chase memes instead of BTC.

They are not investors, they belong to the trenches.

[Fivestar4everMVP]

Hot Take: Not everyone will reach their goals in crypto.

This is not to discourage anyone. But rather to help others wake up if they’re in a trance. Members can talk all day about what you should do, what you should avoid, what you should plan for, what you should consider and etc in the forum and someone still won’t follow through. I am not saying we all should follow one basic template. I know we all have different paths but please consider that being in crypto means facing many temptations.

You will be tempted to sell bitcoin. You will be tempted to buy a new shitcoin. These are all temptations we must avoid or else you will be part of groups of people with no aspirations.

Only those who open their self up to temptation will be tempted, if as a person, you close all doors to temptation, you won't be tempted at all..
For example, you talked about being tempted to sell bitcoin, only someone without a reliable source of income will be tempted to sell their bitcoin due to the fact that they need the money to solve one life's issue or another, but imagine someone who is working and earning a regular income on monthly or bi-weekly basis, and even from that income, they remove a small percentage to top up their bitcoin stash every time he or she gets paid, while the other money goes to expenses and savings for future use...

Why or on what grounds will someone like this be ever tempted to sell their bitcoin when they have more than enough money in savings to cater for any issues they want to solve?
This is why I often tell people that succeeding in bitcoin investment isn't just about buying and holding, but also about having a stable and reliable source of income that will ensure you don't ever need to sell off the investment prematurely because you need money to sort out a very important or life threatening issue.

[Mpamaegbu]

Hot Take: Not everyone will reach their goals in crypto.

Even in life generally, not everyone will reach their goals. It's certain.

I know we all have different paths but please consider that being in crypto means facing many temptations.

You captioned it temptation in your title like it was something seductive 🤔. I don't see it as temptation. Rather, it's bias or decision realignment. Every business minded person or investor has that period when they tend to want out or buy in more. It's business decision. Sometimes, it goes well in their favour; just the same way it goes awry sometimes. In business, you don't always win.

[suhadi88]

That's right, temptation exists everywhere in our lives, not just in the crypto industry. The best way to overcome temptation is to control your own greed and to do that, learn to be content with what you have. However, do not let that satisfaction make you lose your drive to grow and improve. What I mean is, restrain your greed, do not try to eliminate it completely. Because to some extent, greed is also a driving force that propels us forward.

The biggest temptation is the desire to get rich quick. Many are trapped by publications from various sources that claim how easy it is to profit from investing in crypto, but in reality, it's not that easy.

Even those who have fully experienced the benefits have experienced ups and downs when managing their investments in this sector, and even had to start from scratch and be extra careful not to repeat the same mistakes. Market momentum and timing are crucial.

[Awaklara]

You will be tempted to sell bitcoin. You will be tempted to buy a new shitcoin. These are all temptations we must avoid or else you will be part of groups of people with no aspirations.

I personally experienced that situation, which indeed forced me to sell the Bitcoin I had held for some time. Although it generated a small profit, it was not according to plan. I tried to start building from scratch again, but it could happen again. I know there are mistakes that need to be fixed to avoid disrupting my investment plans. Financial problems greatly affect how we maintain the assets we already own.

[Ishicryptic]

Temptations in the crypto industry are for newbies and the greedy who wants to test every new crypto project to try their luck whether they can get rich overnight, some know that they are gambling their funds while others are simply ignorant. For us that knows that Bitcoin is king we are not confused and tempted to gamble our funds, the plan is simple, buy and hold Bitcoin. I have seen a lot of people that have been scammed to understand that no matter who is shilling a shitcoin it doesn't translate to a long lasting project. This is a good time to buy Bitcoin now that it is in bear run, forget about any temptations to buy any tokens except you want to try your luck.

[Son Of Blockchain (SOB)]

Temptations in the crypto industry are for newbies and the greedy who wants to test every new crypto project to try their luck whether they can get rich overnight, some know that they are gambling their funds while others are simply ignorant. For us that knows that Bitcoin is king we are not confused and tempted to gamble our funds, the plan is simple, buy and hold Bitcoin. I have seen a lot of people that have been scammed to understand that no matter who is shilling a shitcoin it doesn't translate to a long lasting project. This is a good time to buy Bitcoin now that it is in bear run, forget about any temptations to buy any tokens except you want to try your luck.

The market is filled with projects that are too good to be true, pump and dumps rather therefore it is expected that newbies should rush into any coin based on community hype but take their time to figure out which is better for investment before jumping in. So far, Bitcoin is the best for the purpose of investment and that's what every newbie should embrace.
 However some newbies are not patient to understand what they're going into before jumping and end up picking coins that would make them lose their money.

[UmerIdrees]

Temptation is something that humans need to defeat on their own, this is not about crypto space alone, temptation is in everything we do as humans, temptation is everywhere.

Money, love, life etc comes with different temptations, it's something we battle with all the time, the only way to defeat this temptations is seeking for enough knowledge, don't always assume that you have know it all.

Temptation has a brother called greed, they work hand in hand together, if you are always satisfied with what you have there is a high chance that you will defeat most temptations that comes your way.

Yeah but the crypto is being presented in a way to us like a quick win rich scheme and due to this, many people feel that it is a way to gain easy money. The expectations becomes even higher when the people see their influencers showing massive gains and changing their life styles while earning from trading and investing in Bitcoin.

When we see videos and read articles that a person made a 1000X by investing in one coin, the other one become millionsare  holding one coin, and their are hundred and thousands of such stories around us that one feel tempted and greed while being invested in Bitcoin.

[Joy- maker]

You will be tempted to sell bitcoin. You will be tempted to buy a new shitcoin. These are all temptations we must avoid or else you will be part of groups of people with no aspirations.

The only people that can be tempted to buy shitcoins are those who follow online hypes, provided you know what you want and what you are doing in this crypto space I see no reason for you to be tempted to buy shitcoins that has no value in them, when you already know that Bitcoin is the only one coin that has proven to be a store of value with potential returns.

Anyone who is knowledgeable enough in this crypto space will focus on the ongoing accumulation of Bitcoin using the DCA method with an accumulating target till the person reaches his or her accumulating target and then hold for long term, instead of following online hypes that will later land you at the middle of no where. Alright Bitcoin has presented us with a good entry point to accumulate it aggressively at a cheaper price.

[Alone055]

Hot Take: Not everyone will reach their goals in crypto.

This is not to discourage anyone. But rather to help others wake up if they’re in a trance. Members can talk all day about what you should do, what you should avoid, what you should plan for, what you should consider and etc in the forum and someone still won’t follow through. I am not saying we all should follow one basic template. I know we all have different paths but please consider that being in crypto means facing many temptations.

You will be tempted to sell bitcoin. You will be tempted to buy a new shitcoin. These are all temptations we must avoid or else you will be part of groups of people with no aspirations.

Avoiding these temptations is not difficult if one understands that these are only going to create problems for them. Selling your bitcoins when you are already in profit has nothing wrong with it, but if someone can stay patient, they might be able to get more from their investment because Bitcoin tends to go higher over time. However, it depends on a person's investment goals because if they are already satisfied with their profits, there should be no regrets in selling them whatsoever, but if they are not satisfied, they shouldn't get tempted because temptations only mean that you can get something which makes you go for it.

For altcoins and shit coins, I personally believe that only those who don't have enough knowledge and understanding about this market will actually get tempted to buy them. I still don't understand how people can invest so much money in meme coins only with the hope that they might get great profits from them when they can clearly see how most of the meme coins end up making their investors lose money and getting delisted from exchange platforms. People just don't get it until they experience significant losses.

[SamReomo]

You will be tempted to sell bitcoin. You will be tempted to buy a new shitcoin. These are all temptations we must avoid or else you will be part of groups of people with no aspirations.

Everyone wants to sell their Bitcoin when they see profit and only a few people can control themselves and hold this mighty asset for long term instead of selling it for short term profits. Bitcoin can be highly profitable but only for those who may hold it for long term. The ones who hold their Bitcoin for at least a decade are the ones who might make most profit out of this asset. Shit coins or weak coins aren't good for investors, those who invest in such coins end up losing money and making nothing from those.

[Asuspawer09]

We know that there will be a lot of temptations in the market, that is for sure, there are a lot of promising projects overthere that we really think are going to be the next big thing, and thinking it might be the next 10x or even more. But I guess the thing here is the crypto industry is just one of the risk investments that we could do, it wasn't really some kind of passive income or some kind of asset that is going to make us a sure millionaire in the coming months.

The thing is, crypto is really not for everyone. There are always going to be winners, and there will be losers as well; that is just how crypto investments work. We dont expect to all win on crypto or in Bitcoin only those who are disciplined and focused are the ones who might make it to the top. Depending on our strategies, some might work and some might not, but one thing is certain in crypto: it is a very risky asset. For me, the template here is to always have a huge amount of Bitcoin in your portfolio, it is just easy. Bitcoin is the safest investment have atleast 50% of it in your portfolio, follow but other blue chip altcoins in the market, and then around 5-10% on some other tokens where you just want to risk it.

It's never a bad idea to diversify your assets; the same thing is to invest more in less risky investments and invest less in other assets that have huge risk, like crypto. I mean for the the order of your investment is already one of the most important things that we need to take a look at, first is always liquidity, have some kind of savings like on your bank account, emergency funds, health funds etc. so that you have a financial foundation and atleast have that safety net just in case something go wrong your not on zero situation, or some might even go negative if some kind of emergency arrived, then slowly climb your way on other asset that have a little risk, and continue to invest on assets until you reach the point of investing in the risk of crypto, at that point it might not even matter if you are going to lose money or win since you have a huge financial foundation meaning you are always in a good position to hold for long term, and those temptations is not really going to bother you are all, you are able to hold for long term easily.

[DanWalker]

Temptation is something that humans need to defeat on their own, this is not about crypto space alone, temptation is in everything we do as humans, temptation is everywhere.

Money, love, life etc comes with different temptations, it's something we battle with all the time, the only way to defeat this temptations is seeking for enough knowledge, don't always assume that you have know it all.

Temptation has a brother called greed, they work hand in hand together, if you are always satisfied with what you have there is a high chance that you will defeat most temptations that comes your way.

Yeah but the crypto is being presented in a way to us like a quick win rich scheme and due to this, many people feel that it is a way to gain easy money. The expectations becomes even higher when the people see their influencers showing massive gains and changing their life styles while earning from trading and investing in Bitcoin.

When we see videos and read articles that a person made a 1000X by investing in one coin, the other one become millionsare  holding one coin, and their are hundred and thousands of such stories around us that one feel tempted and greed while being invested in Bitcoin.

Yes, temptation is present everywhere in our lives. But if we are talking specifically about the financial market, its clear that crypto contain more temptations and pitfalls than any other market.

Has anyone ever heard a story about someone making millions of dollars with a small amount of capital, or becoming rich overnight by investing in stocks or gold? But in the crypto market, hundreds of similar stories have circulated over the years

If we are honest and willing to face the truth, most of us choose bitcoin and crypto for that very reason. We believe that investing in Bitcoin will help us get rich faster than investing in stocks, gold or business.