Before Trust, Doubt First: A Simple Rule for Crypto Investors

[KiaKia]

I have a friend who has been working with a government law-enforcement agency; he taught me that you must need to doubt before trusting anyone. Though in real life we trust someone effortlessly, if we follow these rules, then we may avoid many scams and cheating as well. I believe this logic is crucial for crypto users, as we frequently witness scams targeting them.

Exactly, the thing with human is that we easily trusted someone or something even if we haven't seen proof that they should be trusted. Just like here in crypto, there are many scammers and most of them are believable in the beginning, but then again pull that exit exam.

We've seen a lot of them in recent years and yet it is still very effective method to scam. And if we look at it, there's no new method that has been  created, it's the same old strategy that this cyber criminals have been using for years and yet very effective because as humans we do trust very easily. But it should be not like that, we should doubt and question it from the beginning and maybe it will unravel itself as just a scam and too good to be true offer.

I easily trusted bitcoin, the day I read about it online and do some trial on transaction I fell in love instantly, it was like a missing space that I have been longing for.

Trusting someone or something in short time doesn't always mean you are in danger, but still it's good to doubt, my stupid ass isn't just the type that doubted Bitcoin back then and here we are today..

But, to say the truth, this played a big part to the reason why I trusted other coins easily too, and Dear Lord, I paid heavily for that, so your point is still a very valid one..

[Filicius]

I easily trusted bitcoin, the day I read about it online and do some trial on transaction I fell in love instantly, it was like a missing space that I have been longing for.

Trusting someone or something in short time doesn't always mean you are in danger, but still it's good to doubt, my stupid ass isn't just the type that doubted Bitcoin back then and here we are today..

But, to say the truth, this played a big part to the reason why I trusted other coins easily too, and Dear Lord, I paid heavily for that, so your point is still a very valid one..

I think that he means more doubting people than projects, but you are right that they are frequently linked because behind every project there are people, although less and less, due to the advances in AI.

Despite the fact that in principle one could agree with the principle of prudence that he mentions, especially in the virtual crypto environment, I must say that I have personally found reliable people in the past and having trusted them has been tremendously positive for me. Perhaps it is not so much a distrust by system, as a reasonable but surmountable doubt before trusting someone, and after measuring the risks.

[MarryWithBTC]

Since I knew about this rule, it had saved my ass countless times and it is worth everyone knowing it.
It is good to treat everyone you met online as a potential scammer until they earn your trust.
But we should also know that Satoshi do not actually want us to trust anyone, including himself. All we need to do is to verify every information and not to trust anyone.

Concerning trust still, I think despite that your friend works with the government agency, you should be the one teaching him about trust because this industry we are is prone to scam and lost of funds that the government agency.

[snowpega]

In the crypto industry, often we need to make some important decisions, especially to invest in a new or old project and in other sectors as well. So I follow the simple logic: before trust, doubts first. That means wherever you are going to invest your crypto, you have to have doubts first about investing in that. When you have doubts, then at least you will do minimal research, and then you will have a basic idea about the platform you are going to invest in.

I have a friend who has been working with a government law-enforcement agency; he taught me that you must need to doubt before trusting anyone. Though in real life we trust someone effortlessly, if we follow these rules, then we may avoid many scams and cheating as well. I believe this logic is crucial for crypto users, as we frequently witness scams targeting them.

I really like your topic attention, which is spreading a really great message that, before investing in any coin market in the crypto space, one should at least check the project plans before investing in it. There are many people who do this; they just see a coin pumping, and they start to push their money into the market and lose it in no time. This is gambling and stupidity. I really respect your point of view of yours. But on the other hand, don't you think that if we keep thinking or doubting everything in real life before trusting it, this can lead us to the negative zone as well? As you also know, what energy negativity consumes from us, and this can also lead us to depression.

I am just asking this of you respectfully. Because I am really failing to agree with the second point, where you said we should doubt everything before trusting it. I know for the crypto space, this rule is more than perfect, and if we implement this rule in real life, then we can disturb a lot of things around us, in my point of view. CMIIW!

[Obim34]

I have a friend who has been working with a government law-enforcement agency; he taught me that you must need to doubt before trusting anyone. Though in real life we trust someone effortlessly, if we follow these rules, then we may avoid many scams and cheating as well. I believe this logic is crucial for crypto users, as we frequently witness scams targeting them.

This is absolutely what every adult human should do, people shouldn't be dump into believing just every stories that passes them, recently in this crypto season, we've had more scam given opportunities than authentic opportunities for investors, scam projects are relatively higher than projects that are genuinely brought into the space.

Solid advise, always track when investment ideas are discussed, don't rule out the possibility of scam, without minding who is involved.

[sokani]

Well said, Op. I think one of the reasons people trust easily or fall for scams is greed. Some people tend to think of only the money they would make if they invest in a business or project, but they fail to look at the other part. Which is what they will lose if the investment goes south.

Having doubts sometimes is good because it can save one from a potential scam. It will make one check over and over that a project has dotted all the i's and crossed all the t's before investing.

[Zlantann]

Well said, Op. I think one of the reasons people trust easily or fall for scams is greed. Some people tend to think of only the money they would make if they invest in a business or project, but they fail to look at the other part. Which is what they will lose if the investment goes south.

Having doubts sometimes is good because it can save one from a potential scam. It will make one check over and over that a project has dotted all the i's and crossed all the t's before investing.

Sometimes I would wonder how people fall for cheap scams. A family friend has been scammed several times in Ponzi schemes and pump-and-dump crypto projects. 

Some of these schemes engage in massive promotions that make them look legitimate. They can even hire the services of celebrities to promote the project. Greed and ignorance also play a major role in falling victim to scammers.

I don't invest in any project or asset that I cannot verify its authenticity.

[Cryptohygenic]

In the crypto industry, often we need to make some important decisions, especially to invest in a new or old project and in other sectors as well. So I follow the simple logic: before trust, doubts first. That means wherever you are going to invest your crypto, you have to have doubts first about investing in that. When you have doubts, then at least you will do minimal research, and then you will have a basic idea about the platform you are going to invest in.

That is a very crucial fact to adhere to as an investor that is just having to invest in any new sectors.
And to put it clear, being in such a doubt state does not mean or should not make you to disembark from the journey out of Fud.
You are only to feel skeptic so that you don't invest your funds to asset or organization you barely have knowledge of it mode of operation and their future potentials.
Perhaps this exercise keeps you safe and saves you lot of terms to be regretted while diligent research is the key that summons you the encouragement to accept it or leave it. The risk factors and your ability to handle it may be very important to lead you to your fortune.

[Patikno]

In the crypto industry, often we need to make some important decisions, especially to invest in a new or old project and in other sectors as well. So I follow the simple logic: before trust, doubts first. That means wherever you are going to invest your crypto, you have to have doubts first about investing in that. When you have doubts, then at least you will do minimal research, and then you will have a basic idea about the platform you are going to invest in.

I have a friend who has been working with a government law-enforcement agency; he taught me that you must need to doubt before trusting anyone. Though in real life we trust someone effortlessly, if we follow these rules, then we may avoid many scams and cheating as well. I believe this logic is crucial for crypto users, as we frequently witness scams targeting them.

It looks very simple, but it is actually very important to have principles like the OP mentioned. Basically, "Doubt" is the beginning of any introduction to anything (including crypto), and it really needs to be instilled in oneself to avoid blindly believing (without basic/fundamental knowledge). Many people invest blindly, without knowing what they are investing in first. Instead of expecting profits, they end up losing money, because they didn't do their research first. So, there is no harm in doubting anything (including crypto) before believing in it, and that is wiser than having no doubt at all.

Essentially, "doubt" is closely related to "skepticism", and both are crucial for everyone to have as a basic principle before delving into anything. This is especially true when it comes to financial matters, for anyone who don't have these principles can be very detrimental. And when it comes to fraud, or scams? These are also very important. The bottom line is, "don't believe anything easily", and "do your research first".

[joniboini]

But, to say the truth, this played a big part to the reason why I trusted other coins easily too, and Dear Lord, I paid heavily for that, so your point is still a very valid one..

But what's the reason why you easily trusted Bitcoin back then? Judging from your short story it sounds like you always wanted a payment option that doesn't rely on a third-party for verification and double spending prevention. I guess you could say others coins also offers that, but since you already have Bitcoin, why do you trust them easily too? Is it because they offer something else, like better scalability, easy backup, or something?

[BlackBoss_]

But, to say the truth, this played a big part to the reason why I trusted other coins easily too, and Dear Lord, I paid heavily for that, so your point is still a very valid one..

Don't trust, let's verify as verify what you firstly know about is very important. You can luckily by immediate trust in Bitcoin because Bitcoin is good and safe while if you do the same with altcoins, you will fall into very risky trap of losing your money with "Blind" belief.

But what's the reason why you easily trusted Bitcoin back then? Judging from your short story it sounds like you always wanted a payment option that doesn't rely on a third-party for verification and double spending prevention. I guess you could say others coins also offers that, but since you already have Bitcoin, why do you trust them easily too? Is it because they offer something else, like better scalability, easy backup, or something?

I agree with you that information verification is very important, but I don't know what KiaKia said is what he actually did.

He shared a notebook that he used for his Bitcoin learning in 2016 and 2017, from which I see that KiaKia actually did enough research about Bitcoin and seriously learned about Bitcoin. It's not clear that since when KiaKia actually began using Bitcoin and investing his money in Bitcoin.
I found my Bitcoin books from 2016.

[Mpamaegbu]

I believe this logic is crucial for crypto users, as we frequently witness scams targeting them.

I observe and stick to that too and it has to a great extent kept me out of danger, I believe. However, I've to put it out here like it has also been argued in some quarters that not every project that ends up as a scam actually set out to scam. Sometimes things don't go according to plan, project owners may want to abandon their own projects if it becomes detrimental to their health and finances. I've seen that happen a couple of times. There's no level of verification one can do to find that out. No level of research can bring that out. Two years ago, I got caught up with a similar situation as described with two different projects in presale.

[MarjorieZimmermanGinger]

In the crypto industry, often we need to make some important decisions, especially to invest in a new or old project and in other sectors as well. So I follow the simple logic: before trust, doubts first. That means wherever you are going to invest your crypto, you have to have doubts first about investing in that. When you have doubts, then at least you will do minimal research, and then you will have a basic idea about the platform you are going to invest in.

This is very relevant to people's involvement in crypto. Having doubts about something makes us subconsciously try to investigate first and avoid easily trusting something. This makes it much harder for us to be deceived by others. When someone is unsure about something, they will naturally investigate, and this way we can avoid fraud. In this industry, many fraud methods occur, and they are generally caused by a lack of proper knowledge, making fraud easier to perpetrate by irresponsible individuals.

When someone is skeptical and hesitant to trust something, they develop a mindset of verifying first. This approach is considered much more important because sometimes fraud occurs not because of desire but because of opportunity, especially for those who tend to be careless and lack proper knowledge.

[uchegod-21]

I totally agree with all that OP has said about having doubts first before acting on any crypto-related information presented to you. I also want to point out to newbies that having doubts does not mean they should always have a negative perception of every crypto-related information brought to them. A little doubt will prompt them to carry out investigations and research to know if such information is genuine and authentic.

Crypto transactions are irreversible, and scammers are very active in the crypto space. No newbie should throw themselves at these scammers for free; doubt could save them. Most crypto scams happen because the victims trust too easily. So no matter who is involved, whether family, a friend, or a stranger, don't trust blindly. Put in a little effort to know if it's real.

[YellowSwap]

Since I knew about this rule, it had saved my ass countless times and it is worth everyone knowing it.
It is good to treat everyone you met online as a potential scammer until they earn your trust.
But we should also know that Satoshi do not actually want us to trust anyone, including himself. All we need to do is to verify every information and not to trust anyone.

Concerning trust still, I think despite that your friend works with the government agency, you should be the one teaching him about trust because this industry we are is prone to scam and lost of funds that the government agency.

It's a naaah for me, scammers also have high IQ too, giving them the room to prove themselves as not scammers can give them a chance over you, it's better to not give room to strangers at all unless you have their information.

Like video call them and you can easily see their faces clearly, this doesn't even mean that they can't scam you, it's just a way to know where to look if you want to hunt them down using the help of police.

I don't give space for strangers at all, I don't believe in some stranger coming into my DM to tell me something or give me some opportunity, it's possible but that's 1% Vs 99% that they are scammers.

[Mitchell]

I don't see the benefit of this topic over what we've already stickied. It is just another reminder that people won't actually read, even with all the best intentions.

If you want me to improve those, just leave a comment there or send me a DM. I've moved this to Archival for now.

[MarryWithBTC]

xxx
I don't give space for strangers at all, I don't believe in some stranger coming into my DM to tell me something or give me some opportunity, it's possible but that's 1% Vs 99% that they are scammers.

Any stranger who comes first to your DM from the social media platforms is a scammer. There's no how someone you don't know from Adam will suddenly bring you an investment opportunity.

A rare exception could be in the forums, but since they message you first, it is most likely to end as scam.