Crypto Is a Scam

[CageMabok]

One of the Bitcoin highest strength is how different it is from most other cryptocurrency, it's fixed supply and decentralized design are what make many people see it as a long term storage of value rather than just another speculation assets . It is still important to understand the risks and invest with a long quick profits consistent practicing and discipline accumulation can make a big different over a little time.

Practicing discipline in consistently accumulating Bitcoin won't be easy for everyone, except those who are well-prepared for it. Furthermore, the duration is not short, so anyone who wants to pursue it long-term must be vigilant and not spend their funds on unnecessary things. When someone begins to focus on long-term Bitcoin accumulation, they must be able to set aside things that are not beneficial to them to avoid diverting their focus and staying on the path they've set for themselves, as their goal is to acquire a large amount of Bitcoin by investing sufficient time and capital.

[Proty]

One of the first advice I give to newbies is to ensure that the engage on personal research about anything they are coming across on the internet, not all the news feeds should be admitted as it is, there is a need to cross check as well as confirming from other sources to get more reliable information and ascertain our fact, there are many misconceptions online and everyone is trying to gain attention by his posts.

Doing your own research is very important and we must verify critical information from other sources also specially if its going to have an impact on financial decisions. Internet is flooded with information and there is no guarantee that information you reading is correct or not unless you do the hard work of verifying it. Even on this forum, I follow information shared by old members as authentic and rest I verify from other sources. It's not very hard to verify the information these days, its just a few minutes work.       

Yes, you are right. It is never a good idea to blindly follow someone's advice. We should gather all the information and move towards what is best for us and our financial situation. Many times, it is seen that many people give us wrong information and many times we are harmed by this wrong information.

It is especially dangerous to follow the knowledge of those people or the path shown by them who have half knowledge. A half-wise person causes more harm to everyone than an ignorant person. Therefore, we should examine what is right and what is wrong and move forward. We should examine each issue carefully and move forward.

It is good to listen to people advice especially people who are more knowledgeable or more experienced than we are. There experience maybe from years of getting involved or being in the market for years. However, it is not a good idea to follow people advice blindly. When someone advice us , we are supposed to make our research based on whatever advice we received from them and to just follow it up without any research.

[reagansimms]

Yes, you are right. It is never a good idea to blindly follow someone's advice. We should gather all the information and move towards what is best for us and our financial situation. Many times, it is seen that many people give us wrong information and many times we are harmed by this wrong information.

It is especially dangerous to follow the knowledge of those people or the path shown by them who have half knowledge. A half-wise person causes more harm to everyone than an ignorant person. Therefore, we should examine what is right and what is wrong and move forward. We should examine each issue carefully and move forward.

It is good to listen to people advice especially people who are more knowledgeable or more experienced than we are. There experience maybe from years of getting involved or being in the market for years. However, it is not a good idea to follow people advice blindly. When someone advice us , we are supposed to make our research based on whatever advice we received from them and to just follow it up without any research.

Before practicing advice from others (even if they have knowledge and experience), you must first ensure whether the advice is in accordance with your financial plan (short or long term) and risk tolerance. Advice from others is sometimes subjective or influenced by personal mindset tendencies, although on the one hand listening to advice from experienced people is a good first step, but it needs to be supported by personal research to ensure that a decision is based on objective data and facts, not just following trends. To ensure your investment goes as planned, you must ensure that every decision is based on thorough analysis, not just opinion.

[Shineup]

One of the first advice I give to newbies is to ensure that the engage on personal research about anything they are coming across on the internet, not all the news feeds should be admitted as it is, there is a need to cross check as well as confirming from other sources to get more reliable information and ascertain our fact, there are many misconceptions online and everyone is trying to gain attention by his posts.

Doing your own research is very important and we must verify critical information from other sources also specially if its going to have an impact on financial decisions. Internet is flooded with information and there is no guarantee that information you reading is correct or not unless you do the hard work of verifying it. Even on this forum, I follow information shared by old members as authentic and rest I verify from other sources. It's not very hard to verify the information these days, its just a few minutes work.       

Yes, you are right. It is never a good idea to blindly follow someone's advice. We should gather all the information and move towards what is best for us and our financial situation. Many times, it is seen that many people give us wrong information and many times we are harmed by this wrong information.

It is especially dangerous to follow the knowledge of those people or the path shown by them who have half knowledge. A half-wise person causes more harm to everyone than an ignorant person. Therefore, we should examine what is right and what is wrong and move forward. We should examine each issue carefully and move forward.

It is good to listen to people advice especially people who are more knowledgeable or more experienced than we are. There experience maybe from years of getting involved or being in the market for years. However, it is not a good idea to follow people advice blindly. When someone advice us , we are supposed to make our research based on whatever advice we received from them and to just follow it up without any research.

Alot of people don't listen to advice even at whatever length or personality it is coming from they will listen with one of their ears while it flew away through the other ears and the same people will never do their own research as they can take things too common, they only get to learn over their own mistake and this can be called learning the hard way, a smart person will always ask questions and do their own research for validation as accepting advice is never by force and while all of this has to be done before taken certain decisions which can be to your own advantage or disadvantage.

[lionheart78]

It is good to listen to people advice especially people who are more knowledgeable or more experienced than we are. There experience maybe from years of getting involved or being in the market for years. However, it is not a good idea to follow people advice blindly. When someone advice us , we are supposed to make our research based on whatever advice we received from them and to just follow it up without any research.

 Indeed, it is good to listen to people's advice, but it is much better to look deep into that same advice.  Not because they are knowledgeable and experienced, their advice is not foolproof.  We should also make our situation a reference and weigh if the advice is achievable by us since every person has different circumstances.  At the same time, we must also verify any data given within that advice.

Aside from that, we must not also limit our research to the advice given by other people.  If we can widen the horizon of our knowledge, it will greatly benefit us.

[Razmirraz]

One of the Bitcoin highest strength is how different it is from most other cryptocurrency, it's fixed supply and decentralized design are what make many people see it as a long term storage of value rather than just another speculation assets . It is still important to understand the risks and invest with a long quick profits consistent practicing and discipline accumulation can make a big different over a little time.

Its limited supply and decentralized nature have led many investors to position Bitcoin or treat it as digital gold for a long-term store of value. The two main strengths of Bitcoin, "the scarcity of 21 million units and decentralization," make Bitcoin the most sought-after asset compared to other crypto assets. Other coins require a board meeting to update. This isn't a flaw, but rather a different goal. However, when it comes to "store of value," Bitcoin's neutrality is unmatched.

A little correction about your sentence "It is still important to understand the risks and invest with a long quick profits consistent" seems to be an error in the sentence, maybe you mean "invest with a long-term goal, not quick profits". If you are chasing "quick" your position is as a speculator who easily panics when the price drops, while long-term investors use a 4-10 year time horizon pattern.

[L E G E N D A R Y]

Alot of people don't listen to advice even at whatever length or personality it is coming from they will listen with one of their ears while it flew away through the other ears and the same people will never do their own research as they can take things too common, they only get to learn over their own mistake and this can be called learning the hard way, a smart person will always ask questions and do their own research for validation as accepting advice is never by force and while all of this has to be done before taken certain decisions which can be to your own advantage or disadvantage.

That’s right, if you’re not willing to think about and maybe even verify for yourself, then an advice is just almost useless. There’s so much to learn when you have an encounter with someone who has made similar mistakes before, at least it helps you avoid making the same mistakes too and know how to avoid them. But some only believe that experience remains the best teacher, so until they have a firsthand experience on that thing, they’ll never really get to learn.

[Zanab247]

Even cryptocurrency entirely is not a scam, because bitcoin falls under crypto and anything aside bitcoin are altcoins, therefore the fat has been established that bitcoin is reliable for our investment and consideration as the most recognized digital currency in crypto, now if we are talking about altcoins, then we have them in numbers that are unending, just ensure to make your own research before investing on anyone so that you don't end up being scammed with altcoins.

You mean those cryptocurrency investors that fall victim to scammers on the name of hodling cryptocurrencies is not a scam cryptocurrency right? A lot of people have lose plenty of money on some cryptocurrencies they did not find out how potential the team behind the cryptocurrencies they are before investing their money. Even some crypto some people are making it from, I guess they are using wisdom on those crypto, because they know that they are not profitable like BTC everybody know very well in the industry.

You can invest in BTC what you can afford to lose and you will be profitable, but you can use small amount of money to try some cryptocurrencies in the market, because they are no longer profitable as before, and I can still remember when altcoins investors where making profit from some altcoins in the market.

[Berry2d]

Even cryptocurrency entirely is not a scam, because bitcoin falls under crypto and anything aside bitcoin are altcoins, therefore the fat has been established that bitcoin is reliable for our investment and consideration as the most recognized digital currency in crypto, now if we are talking about altcoins, then we have them in numbers that are unending, just ensure to make your own research before investing on anyone so that you don't end up being scammed with altcoins.

You mean those cryptocurrency investors that fall victim to scammers on the name of hodling cryptocurrencies is not a scam cryptocurrency right? A lot of people have lose plenty of money on some cryptocurrencies they did not find out how potential the team behind the cryptocurrencies they are before investing their money. Even some crypto some people are making it from, I guess they are using wisdom on those crypto, because they know that they are not profitable like BTC everybody know very well in the industry.

You can invest in BTC what you can afford to lose and you will be profitable, but you can use small amount of money to try some cryptocurrencies in the market, because they are no longer profitable as before, and I can still remember when altcoins investors where making profit from some altcoins in the market.

Many may have been affected by this same crypto scam mentioned above but I will love to say there are some things we fail to understand about this crypto currency which is, apart from bitcoin all other crypto currencies are programmed to take the nature of gambling because of the propelling force.
We all have know that the fluctuating nature of crypto currencies only occurs when investments are made, so because of this most people have discovered this strategic method they now invest heavily just to attract the attention of all for his own reasons and once it gets to his desired point  then  they will crash its price and it them become a scam to others and an advantage to him.
 Therefore to avoid this crypto scam, all investments should be made in bitcoin and not other currencies

[Ojima-ojo]

Bitcoin is not currency. Bitcoin is money. Currency and money are not the same thing.

Bitcoin has nothing to do with crypto and crypto industry  Crypto is mostly a complete scam.

This comment sound so interesting, and I will like you to break things down for us a little to better our understanding.


Bitcoin is not crypto? What do you mean give explanation please.
And again, you aid Bitcoin I not a currency but money so what the difference between a currency and money?

[Female King]

Even cryptocurrency entirely is not a scam, because bitcoin falls under crypto and anything aside bitcoin are altcoins, therefore the fat has been established that bitcoin is reliable for our investment and consideration as the most recognized digital currency in crypto, now if we are talking about altcoins, then we have them in numbers that are unending, just ensure to make your own research before investing on anyone so that you don't end up being scammed with altcoins.

You mean those cryptocurrency investors that fall victim to scammers on the name of hodling cryptocurrencies is not a scam cryptocurrency right? A lot of people have lose plenty of money on some cryptocurrencies they did not find out how potential the team behind the cryptocurrencies they are before investing their money. Even some crypto some people are making it from, I guess they are using wisdom on those crypto, because they know that they are not profitable like BTC everybody know very well in the industry.

You can invest in BTC what you can afford to lose and you will be profitable, but you can use small amount of money to try some cryptocurrencies in the market, because they are no longer profitable as before, and I can still remember when altcoins investors where making profit from some altcoins in the market.

Many may have been affected by this same crypto scam mentioned above but I will love to say there are some things we fail to understand about this crypto currency which is, apart from bitcoin all other crypto currencies are programmed to take the nature of gambling because of the propelling force.
We all have know that the fluctuating nature of crypto currencies only occurs when investments are made, so because of this most people have discovered this strategic method they now invest heavily just to attract the attention of all for his own reasons and once it gets to his desired point  then  they will crash its price and it them become a scam to others and an advantage to him.
 Therefore to avoid this crypto scam, all investments should be made in bitcoin and not other currencies

Bitcoin has been proven to be the best crypto currency investment for me I see other coin as a pump and dump coin which can pump today and dump to nothing tomorrow making people loss money, investing in other cryptocurrency coin is the highest risk people are taking as the risk involved is too much so instead of putting money in shitcoin it's better to put it into bitcoin and hodl it for long but let it also be that you are doing it with money you afford to loss or let go.

[Mame89]

Even cryptocurrency entirely is not a scam, because bitcoin falls under crypto and anything aside bitcoin are altcoins, therefore the fat has been established that bitcoin is reliable for our investment and consideration as the most recognized digital currency in crypto, now if we are talking about altcoins, then we have them in numbers that are unending, just ensure to make your own research before investing on anyone so that you don't end up being scammed with altcoins.

Essentially, what we need to avoid being easily deceived by crypto and not label all crypto as a scam is to learn on our own, do our own research and not rely solely on others. Many of those who say Bitcoin is a scam don't fully understand crypto they simply follow others, or because of FOMO. So, when they lose money trading one crypto asset, they say all crypto is a scam. In the crypto world fraud is rife just like in fiat where fiat has counterfeit fiat. That's why anyone who enters crypto must learn and do their own research to avoid being easily deceived.

Bitcoin isn't a scam because it's been around for almost two decades, has a limited supply, is transparent and no one can control it. Likewise, other cryptocurrencies, like altcoins, aren't scams either. There are many good ones like Ethereum, Solana, etc., but on the other hand, there are many scam coins. Many projects only promise big profits then suddenly suffer losses. So this is the reason why we need to continue to deepen our knowledge of crypto so that we are not easily fooled and do not consider all crypto as fraud.

[ColdLava40]

Bitcoin has been proven to be the best crypto currency investment for me I see other coin as a pump and dump coin which can pump today and dump to nothing tomorrow making people loss money, investing in other cryptocurrency coin is the highest risk people are taking as the risk involved is too much so instead of putting money in shitcoin it's better to put it into bitcoin and hodl it for long but let it also be that you are doing it with money you afford to loss or let go.

If it's not bitcoin then you should avoid at all cost.

All shit coins are just there to make money for others and not you. There will always be a bad egg in the mist of the good ones. Most of the altcoins continues to promote as a better coin than Bitcoin, but where are they today?

The coins are risky and losses can be avoided if you do what's right. People who gets scammed are as a result of them being too greedy. They want to risk small and make more.

[Peanutswar]

Basically Bitcoin is a cryptocurrency and this is the first crypto and the other coins follows with the bitcoin are commonly we called as the altcoins so crypto becomes scams with other people because of the new release tokens in the market some of them has a really purpose but some of these coins are just use to create a market manipulation, liquidity, and hype afterwards is they will just grab the chance to exit and for those late comers they are the one who suffers with this kind of activity reason for they created a bad image for the whole cryptocurrency, other form is they invite other people offering they will trade for them using a crypto with a guaranteed return.

[arwin100]

Basically Bitcoin is a cryptocurrency and this is the first crypto and the other coins follows with the bitcoin are commonly we called as the altcoins so crypto becomes scams with other people because of the new release tokens in the market some of them has a really purpose but some of these coins are just use to create a market manipulation, liquidity, and hype afterwards is they will just grab the chance to exit and for those late comers they are the one who suffers with this kind of activity reason for they created a bad image for the whole cryptocurrency, other form is they invite other people offering they will trade for them using a crypto with a guaranteed return.

Bitcoin still a cryptocurrency, but many people want to normalize calling it as Bitcoin so that newbies can easily point out the best coin in the market and separate it from those scams using its name.

I have seen so many scam altcoins that claims they will be the next Bitcoin if their investors then convince their investor to hold their shitcoin, but they end up scamming them. This is what the Bitcoiners want to avoid so newbies can easily determine which coin is the best to buy and and what cryptocurrencies which also good to avoid.  With those things happened I will not argue about what they want to point out and rather support those actions they want to do.

[gracreavix]

Bitcoin is very different because it doesn't have a CEO who gets to control its wealth or how it operates. Everyone got to see that the creator of Bitcoin actually mined his own coins. His level of transparency is on another level. How many cryptocurrency founders can actually do that? All they do is create projects driven by money. They keep a larger percentage of the cryptocurrency they created and sell only a small portion to the public.

But at the end of the day, each cryptocurrency is different. The ones built for a purpose solve a problem. No doubt. Beginners need to understand Bitcoin before venturing into other cryptocurrencies.

[Dzwaafu11]

Bitcoin is not currency. Bitcoin is money. Currency and money are not the same thing.

Bitcoin has nothing to do with crypto and crypto industry  Crypto is mostly a complete scam.

Bitcoin is also crypto but just the best crypto currency you will put your money into and won't regret your decision. I understand reason why you saod bitcoin is not a crypto is because many people have been scam in the crypto space in the process of investment in bitcoin.

So Op bitcoin is part of the cryptocurrencies but the best one, if anyone tell you there is where you will invest in that is similar to bitcoin but is not bitcoin, is lying to you.

[Opiate32]

I think one of the biggest mistakes beginners make is assuming every crypto currency exist to solve a problem. Whether someone ultimately agrees that bitcoin is not crypto or not, it’s still important for new comers to ask simple questions befor investing. Who created this? Who  controls the supply? Who benefits of the price goes up? Those answer often reveal far more than the projects whitepaper.

P.S: There are worthless projects that deserves criticism and there are projects solving real problems. If we’re going to criticize crypto, we should be specific about what deserves  criticism instead of treating everything as the same

[Charcol]

Every beginner should read this carefully. If you do not understand the difference between Bitcoin and crypto, there is a high chance you will lose money.Crypto is mostly a scam.

When someone uses the word crypto, it actually sounds like a mix of scams, hype projects, altcoins, shitcoins, tokens. But Bitcoin is completely different. By assets, we mean all those things that can store value in the long term. Usually, the altcoins, shitcoins that are in crypto cannot actually be called assets. Because they suddenly come to the market and then disappear after a few days. They are not suitable for the long term. But Bitcoin is completely different. It can strengthen your savings a lot in the long term. However, even if Bitcoin cannot be guaranteed, it can be called a potential asset for the future.

[Olatundespo]

Every beginner should read this carefully. If you do not understand the difference between Bitcoin and crypto, there is a high chance you will lose money.Crypto is mostly a scam.

When someone uses the word crypto, it actually sounds like a mix of scams, hype projects, altcoins, shitcoins, tokens. But Bitcoin is completely different. By assets, we mean all those things that can store value in the long term. Usually, the altcoins, shitcoins that are in crypto cannot actually be called assets. Because they suddenly come to the market and then disappear after a few days. They are not suitable for the long term. But Bitcoin is completely different. It can strengthen your savings a lot in the long term. However, even if Bitcoin cannot be guaranteed, it can be called a potential asset for the future.

Although the term crypto refers to all types of currencies, Bitcoin is a unique digital asset and also store of value. If you analysis Bitcoin you will be able to easily distinguish this digital asset from shitcoins. Most shitcoins wear a decentralized mask and deceive traders. Especially those who are greedy for high profits in a short time. Short term projects have the temptation to earn high profits but also have risks.

By analyzing the prices of coins that are considered reliable in the market, you will understand how much the price has decreased and how much capital traders have lost. The greed for high profits in a short time sometimes tempts them to sell at a loss, as is the case in the current price trend of altcoins.