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

[Son $f Grace]

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

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.

I do agree with most especially to learn first before you want to invest, a lot of us beginners we do focus first on how many/much of Bitcoin Dey can buy, then them understand how all this things works. Even with the little you can afford first, learning about Bitcoin, security, wallet making sure you understand it well, will surely go a long way to avoid a costly mistake. You might not have enough yet but the knowledge being gathered will be valuable as you journey with Bitcoin.

[The Founding Titan]

The level of naïvity required for someone to tell themselves that nothing bad will happen to them, it's not wrong to be hopeful but that's not a reason to blind yourself to reality, we have very little control over the things that happens around us. With bitcoin investment we have no way to guarantee success, but we can make effort to ensure that that don't end up working against us.
This is one reason why we should make sure to not joke with our emergency fund, joke with it and you are more or less joking with your investment, and this isn't just about bitcoin, your emergency fund effectively makes sure you don't end up stranded when things in your life don't go the way you expect.

[CryptopreneurBrainboss]

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?

Gone pass these stage in my life and I know I won't tell myself things like that again but there are some things we do still tell ourselves as advance investorsas we might claim we have gotten and they still sound like we're novices. But to stay on topic, newbies choosing CEX over self custody is a big concern as some might say, the funds aren't large so they can risk holding it on CEX .  Another sentence is I'll wait for the market to dip more, while this happens most of the time still the newbies don't buy and that's because they have been stuck in the illusion of procrastination. Better you buy and wait  than to wait to buy that you never do. Don't think you can always outsmart the market because chances are, you'll never do unless you deploy the buy and wait strategy.

[Bright0515]

The second point is quite agreeable, a lot of beginners tell themselves that they can start up an investment and procrastinate the learning the process. Before getting into any aspect of crypto currency it is important to gain knowledge but the problem with a lot of beginners is that they undermine the importance of learning about Bitcoin because they feel that there isn't much to learn because Bitcoin is less complex than altcoins. And also they tell themselves they are going to learn later on when they have a lot of capital and in the long run they don't end up learning anything.

[Comeacross]

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.

And you know the funny thing about this? Hackers treat every cent as valuable whether it's big or small. Every wallet that contains a valuable coin is a target to them. You don't have to wait until you hold big amount before you start taking your security seriously. Even if you are holding a small amount of coin, you should treat it as if your life depends on it by holding it tight because every cent you lose is addition to hackers.

One effect of losing even small amounts is discouragement. You feel discouraged if you lose small amount and investing becomes a problem because you'll assume you might still lose it again. Security is the first thing you should learn about before you should start your journey in this crypto, don't wait until you have big investment before you start taking it seriously.

[DubemIfedigbo001]

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?

If I'm still telling myself any of these, then I'm an old fool . I'm too old in this game to fool myself.  It's important to always commit to learning and best practices.

I can relate to one which is thinking nothing would happen and not upgrading your practices. I stopped using Trust wallet when a colleague funds were drained from connecting her wallet to a phishing site through Dapps section, we've heard it's less secure, but I was too lazy to look for a better alternative until I witnessed it. She mined a lot of Doge coins in 2022, but in the twinkle of an eye it was all gone.

I was scammed as well in Ethereum million money of 2020, despite being warned by my brother that it's a scam. Ever since then I learned the importance of not trusting, but verifying and totally staying away from gambling with my precious coins.

[Son $f Grace]

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?

newbies choosing CEX over self custody is a big concern as some might say, the funds aren't large so they can risk holding it on CEX .  Another sentence is I'll wait for the market to dip more, while this happens most of the time still the newbies don't buy and that's because they have been stuck in the illusion of procrastination. Better you buy and wait  than to wait to buy that you never do. Don't think you can always outsmart the market because chances are, you'll never do unless you deploy the buy and wait strategy.

Exactly I love this small amount being use as a reason  to stay on CEX, this very part enlightened the third point on my post, most of the times the amount is not really the problems but the habits which we all build around it. Just imagine one having the mindset of see security important only when the funds is big,you will see that this user will delay the time for learning and when you will want to change this habit it will be very hard because u are already use to such thing. Let learning come first before huge amount later

[Marvelockg]

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?

I think the idea that nothing is happening to your asset is one thing that every investor can easily relate with expecially as a means of staying energised throughout the times when you're holding your asset.

When bitcoin is bullish, I've always believed it's going to get more bullish and when bitcoin goes bearish, the mentality is that recovery is the next stop. Even though we know that bitcoin is not 💯 perfect, every investor has one thing in common and that's the mentality that after every DIP comes an eventual recovery.

[Hatchy]

That feeling that not bad will happen to me:
Am going to learn later, once I have allot to protect
It a small amount it not worth the caution yet
A video that I watched, I have basically get it already

We sometimes try to create this delusion in our head that when we invest in the market and do everything right, then all is well. It might be, but maybe not for long. There are so much risk involved in the crypto market that even when you have security at it's peak, you might still be exposed to some vulnerability. The only way to be safe is to be ready for what ever happens next. Don't be the type that gets broken down because of some draw backs, be ready to move on because the market as we know it's is very risky. Learning should be a continuous process for you and not something you do only when you feel you have gone wrong. With time you continue to gather a lot of knowledge that would be your most valuable assets because it helps you know what do do at the right time..

[NewRevelation]

One thing I have always told myself is that I will always do my best in whatever I get involved in. Doing my best simply means doing all that it takes for that particular thing to yield the positive results it has always yielded while others are using it, and this believe of mine has helped me scale through some difficult places where some people bring in the cat of laziness that could prevent them from completely winning.

As a newbie I'm Bitcoin investment, what stops you from doing what is entailed for you to do in order to invest better and HODL longer? A newbie who fails to read and learn to get some more knowledge about Bitcoin investment will surely do nonsense at a long run. Neglecting the basics you need to invest in peace will hunt you in the future, thereby leaving you in distress and so much panic and/or loss. There are so many people in Bitcoin investment that are doing well, find out what they did, what they are doing, how they are doing it, ask questions, be ready to learn, don't neglect anything important, and hopefully, you are on your way to a successful investment.

[Curious T]

The level of naïvity required for someone to tell themselves that nothing bad will happen to them, it's not wrong to be hopeful but that's not a reason to blind yourself to reality, we have very little control over the things that happens around us.

You call it naivety because it is being discussed in Bitcoin, but if we take it to the broader scale of life, you will see that a lot of people have that mindset. It is not that people say nothing will happen to them exactly, they just feel it cannot be them. They feel the cases of people that it has happened to are just stories that are far away from them. They don't imagine that it can be them one day. For example, we have been hearing stories of Tether freezing people's USDT in their addresses. We all know this, but we still use USDT freely, and some people even keep their money in USDT for a long time without any fear at all. They believe it can't be them. After all, what have they done for their coins to be frozen? So that is how it works. Nobody believes that their wallet can be wiped till it happens. Nobody believe tat they can lose their seed phrase till it happens. They didn't directly say "it can't happen to me", but they never thought it could be them, and that can make people careless.

[POPOLUV]

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.

You are eventually making some sense that most investors which falls in the same species,  that has not experienced huge losses in Bitcoin, they will surely has the same mentality but one thing is sure in Bitcoin investments is that, even before an investor have decided to invest, it is very sure that such investor knows the behavior of Bitcoin price in the market, so any Nigerian that has such mentality should better delete such mentality and keep pushing for greater days ahead while we keeps praying for ourselves not to experience such a huge lost in Bitcoin, even as we all knows on how Bitcoin works in the market because being extremely carefulness doesn't change the fact that if Bitcoin want to decrease in the market.

[PhilosopherKing]

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.

It is a normal thing for bitcoin price to reduce in price, and so person don't just loose their bitcoin like that without a reason or a cause behind it. usually that loss had to happen because that person was so forward to sell out all their bitcoin because they think the market will never ever recover.

Loss  mostly also happens because the person was very careless about maintaining good security habits. Even though I don't like it when person delay themselves endlessly just because they want to learn about security, I still think that it is very important and while investing person should put in enough effort to learn about security. After they learn, they should still spend plenty time to learn more and more, learning should never end.

This is because as the world progresses, things that was looking very secure before can loose that it's level of security because of so many reason. So person have to keep updating their security knowledge every day if possible.

Another thing is that anytime a person is affected by loss, it is good that other person look into this and understand how that losses happened. This is so that they will be able to adopt every precaution to make  sure that that same mistakes is avoided.

[Pablo-wood]

The level of naïvity required for someone to tell themselves that nothing bad will happen to them, it's not wrong to be hopeful but that's not a reason to blind yourself to reality, we have very little control over the things that happens around us. With bitcoin investment we have no way to guarantee success, but we can make effort to ensure that that don't end up working against us.
This is one reason why we should make sure to not joke with our emergency fund, joke with it and you are more or less joking with your investment, and this isn't just about bitcoin, your emergency fund effectively makes sure you don't end up stranded when things in your life don't go the way you expect.

I think hope should be built on knowledge and not mere instinct. Being blind to reality is only common with people mostly beginners who find it time consuming to study, research and understand things before the venture into investing. If we are to analyze this closely it can be said that those who succeed with their investment have taken their time to learn, spotted their mistakes and made corrections where necessary and have an open mind to continue in their learning path.

No investment guarantees success we only do our analysis based on the information available and trying to apply principles shared by people who have succeeded in time past while verifying the originality and Genuity of the information.

[CryptopreneurBrainboss]

No investment guarantees success we only do our analysis based on the information available and trying to apply principles shared by people who have succeeded in time past while verifying the originality and Genuity of the information.

Will newbies agree to follow this principle that there isn't any guaranteed investment out there as the mindset they already have coming into the industry is that they will make profit that's why you see them put all they have into the market in an attempt to make profit as quick as possible which some succeed but many fails. This industry isn't that different from others and if we just follow the rules of investing we are going to make profit and like I have said before always starting with small capitals matters alot.

[sokani]

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 reminds me of someone who sent coin from a mixer to an exchange, and luckily for him, it wasn't frozen. When another user was advising a newbie not to do so, he disagreed that nothing would happen because he had done that before. The user had to point him to a topic where another user shared his sad experience before he knew it was a bad practice, and he was just lucky not to have his fund frozen.

[Audrey Simmons]

Will newbies agree to follow this principle that there isn't any guaranteed investment out there as the mindset they already have coming into the industry is that they will make profit that's why you see them put all they have into the market in an attempt to make profit as quick as possible which some succeed but many fails. This industry isn't that different from others and if we just follow the rules of investing we are going to make profit and like I have said before always starting with small capitals matters alot.

Newbies who intend to take their investment seriously will do more than what is considered normal to learn how to invest and protect their investment. How complex are the basics for newbies to learn in a short duration before investing?

Every investment has its own strategy, Bitcoin does, and so do every investment have theirs. The basics are like foundation, if the foundation is not strong enough, there is certainly a greater possibility of everything collapsing, no matter how far it has gone up, refusing to learn is already a plan for failure.

Knowledge is a key principle, a must have for all investors. Indisputably, profits remain an incentive for investing our hard earned money.