The Four Sentences Bitcoin Beginner Tells Themselves. And Why They're All Wrong

[Son $f Grace]

If you sit any beginner down and ask them why they didn’t learn first before it cost them, none of them will say that they wasn’t aware. This are not mistakes people are not aware of but this are the four things they tell themselves before taking any step. And this make them sound reasonable without them knowing that it dangerous.

That feeling that not bad will happen to me:

Allot of things do happens when one is too hopeful. That feeling that you have keep Bitcoin for some months, you didnt face any problem no hacks no mistakes and so on. Then you be like all this warning people have being giving all this while is much for you. You are fine already, but because nothing have happened does not mean nothing is goging to happen. The whole game is just like a dice, just imagine rolling a dice for more than 10 times without getting a 1!!, but you not getting that one those not mean that there is no 1 in the dice, it just that it haven’t show up yet. To be lucky for some little time it nothing compare to being safe.

Am going to learn later, once I have allot to protect

On like this usually sound smart, having the mindset to wait until it matters to before you now take things serious. But this the consistency behide it, in a situation were you go on and lost your Bitcoin wallet and u forgot or misplaced your backup, it not going to matter anymore even though you have up to 5 thousand or 5 million Naira inside, it all Gone. For you to wait for later, does not make things safer for you. It just as if trading what to loss later.

It a small amount it not worth the caution yet

This is the space were you tell urself that it just a little money i don’t need to be careful with that.
Not knowing same way you treat little is same way you treat big money later on. That carelessness with that little money will still happen with the big money. A bad habit won’t just fix itself because more money has come in, rather it get more expensive. That bad habit is alrady there just that it was practice with little funds at of then.

A video that I watched, I have basically get it already

In summary all of this 4 thoughts listed, it not because of one is dumb or dull. But this are little excuses we give to avoid following up the hard part or uncomfortable stuffs like that. Having to let someone knows the fact won’t just change that person opinion if they feel safe with their own choices. But they end up learning with a painful loss, but after then they have already pay for their lessons .

So which of this four have you once told urself or are u telling urself now ? Not the mistake , what are those things you say before deciding it could wait?

[MainIbem]

Am going to learn later, once I have allot to protect

On like this usually sound smart, having the mindset to wait until it matters to before you now take things serious. But this the consistency behide it, in a situation were you go on and lost your Bitcoin wallet and u forgot or misplaced your backup, it not going to matter anymore even though you have up to 5 thousand or 5 million Naira inside, it all Gone. For you to wait for later, does not make things safer for you. It just as if trading what to loss later.

I had to focus on this particular one because procrastination is one of the major reason why many people make mistake in their investment it hindered many from investing earlier and some still fail to learn from that. Taking accumulation seriously is not bad but if the security of the wallet an investor is accumulating and holding with is not taken seriously then it would end up being a wasted effort. So instead of procrastinating about securing the investment which doesn't take too much effort to do it better to do it immediately you figure out how to buy Bitcoin before it becomes late later.

[hmbdofficial]

If we look at it carefully, you’ll realise most of the bitcoin loses are often not because people have never heard about security, but because they kind of belief that the warnings do not apply to them yet.

There are some people with the mindset that they are only holding a small amount therefore dry do not take security seriously, and that dangerous because they will still do the same when they are also holding a bigger amount. That’s why good security habit should be built from the very beginning of your bitcoin journey.

Also I want to point out this, that having no problem so far doesn’t automatically prove that a wallet or a particular security practice is safe. Because past successes can simply means nothing has gone wrongs yet. However, learning the basics security practices like the best way to protect your seed phrase, verifying addresses and keeping proper backup are very much cheaper than learning it after losing fund due to its negligence.

[Loyang]

If I talk about myself, the two worst things about me are that if I start reading something, I don't read it well and I finish it in a hurry, so after a while I face a bad situation because of this half-knowledge. Although I am now slowly learning to control myself and trying to become more focused.

Another thing is that I don't seem to have much patience. For example, if I am doing one thing at the moment and I think of doing something else, I won't be able to stay well until I finish those things.

[Hyphen(-)]

So which of this four have you once told urself or are u telling urself now ? Not the mistake , what are those things you say before deciding it could wait?

What usually happens when new person is being introduced into cryptocurrency is that, they work with what they have been thought, and it is not anyone that introduces you to crypto will guide well, they will just give you the basics because they know that you are desperate to start, because of that, they only give you guides on how to start.

Serious investors who really want to grow in crypto investment will start to learn more about everything, these are the set of people that learn more in order to protect their investment for long, but those are desperate to make money will lose money because they don’t usually care to learn more about the security of their wallets, they usually stick to centralized exchanges they are introduced to and highs not good for long term investment.

Beginners need to always take their time to learn, they can’t rely on whoever introduced them to crypto, they need to learn more because the basics is not enough, there is more than just use your email to signup in an exchange, copy your wallet, or use p2p buy dollar and use it to buy Bitcoin; they need to understand that the security of their wallets and their Bitcoin is on them, and it is not something to overlook unless if they just come to trade for sometime and go.

[Doan9269]

If you sit any beginner down and ask them why they didn’t learn first before it cost them, none of them will say that they wasn’t aware. This are not mistakes people are not aware of but this are the four things they tell themselves before taking any step. And this make them sound reasonable without them knowing that it dangerous.

Any lack of information and knowledge that a person has will always cost him huge loss; some may not know that the reason why the experience such was because of their inability to understand the necessary things that are needed in the first place, which is the ultimate reason why making mistakes becomes inevitable.

Some newbies are also part of the same courses to their loss experience, you can imagine an incident whereby a newbie is trying to familiarize himself with a particular aspect in cryptocurrency and does not have enough information or insight on what to do and how to go about it, then moving further to take additional step of investing without knowing what it may cost, not knowing there are implications to everything we do and once we make the wrong move, we can escape losing at the end.

[Y3shot]

Allot of things do happens when one is too hopeful. That feeling that you have keep Bitcoin for some months, you didnt face any problem no hacks no mistakes and so on. Then you be like all this warning people have being giving all this while is much for you. You are fine already, but because nothing have happened does not mean nothing is goging to happen. The whole game is just like a dice, just imagine rolling a dice for more than 10 times without getting a 1!!, but you not getting that one those not mean that there is no 1 in the dice, it just that it haven’t show up yet. To be lucky for some little time it nothing compare to being safe.

This has to do with those who rely so much on exchange wallets. It is not as if they don't know the risks of using exchange wallets or they haven't heard what happened to exchanges in the past, but because they are so comfortable using exchange wallets, they just believe it is the best for them. Because the exchange they are using is a reputable exchange, they think it is very safe for them. A hacked exchange or a scam exchange was once a reputable exchange. Just because an exchange is reputable doesn't mean one's assets are secure. Anything can happen to any exchange: not your keys, not your coin.

[casey15]

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It a small amount it not worth the caution yet

This is the space were you tell urself that it just a little money i don’t need to be careful with that.
Not knowing same way you treat little is same way you treat big money later on. That carelessness with that little money will still happen with the big money. A bad habit won’t just fix itself because more money has come in, rather it get more expensive. That bad habit is alrady there just that it was practice with little funds at of then.

This is a big issue that people have.. thinking that the asset is small and so it doesn't need much attention.
One this I have known over time is that anybody that cannot manage anything when it's small, they won't be able to manage it when it's big. The same applies to crypto.. when you can properly exhibit safe practices when you still have little amount, you won't be able to do it when it's big. It will be very difficult to adopt it because you didn't start small. The very best is to take every asset, no matter how small it may be, as a priority. It should have your attention and safe keeping as much as a larger one. It helps you build consistency and experience

[Promocodeudo]

Allot of things do happens when one is too hopeful. That feeling that you have keep Bitcoin for some months, you didnt face any problem no hacks no mistakes and so on. Then you be like all this warning people have being giving all this while is much for you. You are fine already, but because nothing have happened does not mean nothing is goging to happen. The whole game is just like a dice, just imagine rolling a dice for more than 10 times without getting a 1!!, but you not getting that one those not mean that there is no 1 in the dice, it just that it haven’t show up yet. To be lucky for some little time it nothing compare to being safe.

Let me get this straight, should Bitcoiners be expecting hack or losing access to their wallet whenever they are doing the right thing? Or am I getting you wrong? If your seed phrase is stored in the right place where no person will have access to it except you, I don't think there should be any worries, I don't want to talk about exchanges because every Bitcoiner should have had the knowledge that exchange wallets are not for hodling Bitcoin because anything can happen and your Bitcoin can grow wings, newbies should be aware of this, if you're been advised on how to store Bitcoin properly, and you follow the advice as it is, I don't think fear should be entertained unless you aren't doing the right thing.

[BIT-BENDER]

Number 1. You can't think that you are safe and nothing can happen, as an average well thinking person learning a new thing that will involve you buying with your funds you aren't meant to tell yourself that nothing bad will happen, it is almost sure to have the beginners fear and that fear can't coexist with the feelings that nothing bad can happen.

But in the beginners defense of this and all you listed many of them are poorly taught and advised so they make up the wrong reality about Bitcoin using the bad knowledge passed to them.

[fredericktaylor]

That feeling that not bad will happen to me:

It is not right to believe in something before you get it. It is better to research it thoroughly and then believe in it, but it is not good in any way. There is risk in investing in Bitcoin, but if we can adopt a risk-taking attitude and wait for hope, we can expect to make big money.

Am going to learn later, once I have allot to protect

Learning about a subject can help a person to know about its mentality or curiosity, when a person is told about a specific subject, he will understand, which will increase his interest in knowing and will ask various questions about the specific subject, then he can think more about that person to improve his knowledge and his risk. It is very important to gain knowledge about Bitcoin before investing in Bitcoin. For example, if we do not gain knowledge about Bitcoin before investing, it can lead to loss as a result of being knowledgeable, so it is very important to take the right decision at the right time.

It a small amount it not worth the caution yet

It is very important to be aware from the beginning by investing in Bitcoin. If we do not be aware from the beginning, the amount of financial loss will increase. At the end of the day, nothing will be left for us except loss. We have to buy Bitcoin little by little with discipline and be aware of the risks. As a result, long-term investment can be managed properly and Bitcoin can be held for a long time. As a result, the risk of losing money will be reduced and there will be a possibility of profit in the long term.

A video that I watched, I have basically get it already

Knowing and understanding about a subject is possible only through one's own interest, so it is very important to take the time to understand Bitcoin well. It is never possible for anyone to understand everything about Bitcoin quickly. So I think it is best to acquire basic knowledge about Bitcoin before starting to invest, as well as consistently buy Bitcoin as much as you can and hold it for a long time. As a result, you will understand every aspect of Bitcoin well and your bitcoin purchase will increase and you can enjoy the benefits of Bitcoin in the future.

[PostQuantumBTC]

Number 1. You can't think that you are safe and nothing can happen, as an average well thinking person learning a new thing that will involve you buying with your funds you aren't meant to tell yourself that nothing bad will happen, it is almost sure to have the beginners fear and that fear can't coexist with the feelings that nothing bad can happen.

But in the beginners defense of this and all you listed many of them are poorly taught and advised so they make up the wrong reality about Bitcoin using the bad knowledge passed to them.

I totally agree with you. I noticed that anyone that I tell about cryptocurrencies, they are afraid of it. There was my brother that know about it, in few years ago, he said he is afriad just because of the crypto news like randomware and malware that he was reading about. There is beginners fear, although I did not have it when I began, probably because the first thing I learned about was about avoiding scammers and hackers.

[GiftedMAN]

It a small amount it not worth the caution yet

This is the space were you tell urself that it just a little money i don’t need to be careful with that.
Not knowing same way you treat little is same way you treat big money later on. That carelessness with that little money will still happen with the big money. A bad habit won’t just fix itself because more money has come in, rather it get more expensive. That bad habit is alrady there just that it was practice with little funds at of then.

This is a very bad habit and those beginners who are often found doing this kind of mistakes end up regretting it because the moment they think the amount they they have invested is not worth protecting the more they become so careless to protect their funds from scammers and hackers. Truth is that if they couldn't protect their funds when they had little how much more when they will being having investment that is worth millions in Bitcoin it's going to be difficult for them to do. No amount invested is too small not to be secured so it's important to always protect your funds no matter how much it is.

[Cryptomultiplier]

Number 1. You can't think that you are safe and nothing can happen, as an average well thinking person learning a new thing that will involve you buying with your funds you aren't meant to tell yourself that nothing bad will happen, it is almost sure to have the beginners fear and that fear can't coexist with the feelings that nothing bad can happen.

But in the beginners defense of this and all you listed many of them are poorly taught and advised so they make up the wrong reality about Bitcoin using the bad knowledge passed to them.

Bad knowledge or not, overconfidence kills faster when investing in Bitcoin. One can be so sure they know all that is necessary and just be surprised in the end that they are porous and remain lacking in right application of their knowledge.
I mean, it's good to know the best risk management practices to ensure your investment don't get lost, but it's also better one doesn't overdo somethings so as not to be exposed mostly as a beginner in the bitcoin market.

[Son $f Grace]

Allot of things do happens when one is too hopeful. That feeling that you have keep Bitcoin for some months, you didnt face any problem no hacks no mistakes and so on. Then you be like all this warning people have being giving all this while is much for you. You are fine already, but because nothing have happened does not mean nothing is goging to happen. The whole game is just like a dice, just imagine rolling a dice for more than 10 times without getting a 1!!, but you not getting that one those not mean that there is no 1 in the dice, it just that it haven’t show up yet. To be lucky for some little time it nothing compare to being safe.

Let me get this straight, should Bitcoiners be expecting hack or losing access to their wallet whenever they are doing the right thing? Or am I getting you wrong? If your seed phrase is stored in the right place where no person will have access to it except you, I don't think there should be any worries, I don't want to talk about exchanges because every Bitcoiner should have had the knowledge that exchange wallets are not for hodling Bitcoin because anything can happen and your Bitcoin can grow wings, newbies should be aware of this, if you're been advised on how to store Bitcoin properly, and you follow the advice as it is, I don't think fear should be entertained unless you aren't doing the right thing.

Am not saying that a Bitcoiner should live in fear of getting hacked or even losing access to their own wallet, all am trying to say is that, you shouldn’t use your idea of ur past luck as a proof that your security is all good enough. Just saying that you can be doing everything right simce day one and in the process one day you can face an unexpected problem. But if you learn how to protect yourself first, this gives less room for it to happen and even if it happens you should know what is going on and also know what to do next. We shouldn’t just see security as what we will only think about when our Bitcoin become valuable, security should be am habit we live with.

[Wiwo]

If I talk about myself, the two worst things about me are that, if I start reading something, I don't read it well and finish it in a hurry, so after a while I end up in a bad situation because of this half-knowledge. Although I am now slowly learning to control myself and trying to become more focused.

Another thing is that I don't seem to have much patience. For example, if I am doing one thing at the moment and I think of doing something else, I won't be able to stay focused until I finish that thing.

From your first statement, one can get the same information as with the last statement; your problem is impatience, as you have rightly said.

Just an addition to what you are already doing, which is to identify the problem and work on it: always take your time to follow things up gradually and make sure to pay attention to every detail.

Never rush things, is not good for you. Always do things when you already have a clear understanding and goals for that thing.

[Makus]

When investing in Bitcoin a lot of Nigerians know that the market is going to reduce at some point and this is going to affect their Investment but fortunately this doesn't really get out of control like some people actually think. I'm.the process of this some people have lost huge amounts of money and some think that it hasn't happened to them because they are being too careful but that is just the wrong mentality that they have, if it happened to others it can happen to anyone.

[EluguHcman]

If you sit any beginner down and ask them why they didn’t learn first before it cost them, none of them will say that they wasn’t aware. This are not mistakes people are not aware of but this are the four things they tell themselves before taking any step. And this make them sound reasonable without them knowing that it dangerous.

It is not all beginners that are prones to this lapses if at all I should give you benefit of doubt because it is also impossible for you to detect if vulnerables falls into the mess where out of their ignorant to learn.
Of course those who introduced them in the system should be  primarily hold responsible in such cases because there is also probabilities that they were only told about the positive side as a Bitcoineer. And don't get it wrong, there are also those who tends to convince others to investeon Bitcoin and they usually talks about the Goode side of it.

So beginners who are no knowledgeable enough could fall the place of the category you just described not because they had been informed about the risks.
Some are also lazy and dump head enough to make such mistake as well.

[Odogwu-Blockchain]

So beginners who are no knowledgeable enough could fall the place of the category you just described not because they had been informed about the risks.
Some are also lazy and dump head enough to make such mistake as well.

Not every beginners are meant to be knowledgeable or quickly pick interest in Bitcoin or any crypto related matters, I haven't come across beginners who once lazy becomes good in crypto, I haven't seen. A lazy beginner remains lazy throughout.

If you must spot out a beginner who will literally do well in crypto, then you gotta see the burning spark in them, even though they not earning yet, they keep trying and clicking everything, opening pages after pages getting to know more and more. Those beginners gonna do great in crypto sooner or later.