I think the most common mistakes made by newbies is they easily get attracted towards gambling to multiply their bitcoins in quick time but end up loosing everything and apart from that they also invest in online sites without doing any research.
Sadly, even those who have been into bitcoin for a while are still lured into such scams from time to time. The promise of high yield in such a short period of time just seems to be good an opportunity to pass up, although they always regret investing in the end. Some of these investments are legit in the beginning but turn out to be scams because the high rate of return on investment is definitely unsustainable and can't continue until new members with incoming funds are signed up. 
Topic: 10 main mistakes of Bitcoin newbies - page 10. (Read 20901 times)
Well this is fun. Today I just had someone message me on Facebook and asking if I currently hold any Bitcoin, and whether I want to earn a percentage on it. I knew what was coming, and I entertained my buddy and told him that I do have btc and I'm willing to hear what he has to offer. He sent me a link to a YouTube "webinar" recording of how this group is taking Bitcoin and playing the crypto market and the mining market, and that all participants will earn 2.X% return a day until their investment has been paid back in double...
Needless to say, I told my buddy that these doublers are all bullshit, and he got offended because he knows a friend of a friend that knows the "company" that produced the video.
What a sucker. I feel bad for him, as he got into btc at around the $900 price point, and I don't know how I'm going to tell him "I told you so" when he only nets 50% of his investment back before the company disappears lol
Needless to say, I told my buddy that these doublers are all bullshit, and he got offended because he knows a friend of a friend that knows the "company" that produced the video.
What a sucker. I feel bad for him, as he got into btc at around the $900 price point, and I don't know how I'm going to tell him "I told you so" when he only nets 50% of his investment back before the company disappears lol
Investing money in doubler sites, cloud mining sites are the most common mistakes committed by newbies and majority of them will also get addicted to gambling to make quick money but end up loosing every thing at the end of the day.
And people will never learn! I still see new threads about cloud mining sites, doubling sites, people are asking which site is good for that, and even they get answers that this sites are just scamming people they are continuing with using them without noticing our word's.
Gambling is something else, don't mix gambling and cloud mining site. If you have skills and knowledge, with good bankroll there is high chance for a player to make some profit with gambling.
That problem cant be solved unless everyone realized that they will not earn any profit in doubler, i have encounter a lot of people wasting their time in hyip,doubler, etc. They keep referring people to join under them, they dont understand that hyips and doubler are just paying at start but in the end, they will just take your money, and you cant get it back whatever you do.
Even you send email to them, they just ignore you.
Investing money in doubler sites, cloud mining sites are the most common mistakes committed by newbies and majority of them will also get addicted to gambling to make quick money but end up loosing every thing at the end of the day.
And people will never learn! I still see new threads about cloud mining sites, doubling sites, people are asking which site is good for that, and even they get answers that this sites are just scamming people they are continuing with using them without noticing our word's.
Gambling is something else, don't mix gambling and cloud mining site. If you have skills and knowledge, with good bankroll there is high chance for a player to make some profit with gambling.
My favorite newbie mistake: "heyyy guys how much money an i make mining ___ (eth/zec atm)
" Everyone tells them to just buy BTC/alts, but they try to mine anyway.
But the network does need miners, so I won't complain.
" Everyone tells them to just buy BTC/alts, but they try to mine anyway.But the network does need miners, so I won't complain.
Investing money in doubler sites, cloud mining sites are the most common mistakes committed by newbies and majority of them will also get addicted to gambling to make quick money but end up loosing every thing at the end of the day.
I agree, it's a common mistake because newbies are lack of knowledge about those scams. And I'm one of them before, I thought that it's a good way to earn bitcoin and I believed on it but in the end I was frustrated and I did some googling around and I found out that all of them are scams and right now we should warn the new ones.
The article is good, it's correct on most point newbie want to do especially about faucet and mining bitcoin. When i was new to bitcoin, i thought that 1000 satoshi from faucet is huge, later did i find out that it was not even 0,1 cent. The other thing is mining, i didn't know that the capital you need is not small.
Yes i dont realize it recently and then i just get it that a satoshi is different from bitcoin and mbtc is something that all newbies need to understand about the bitcoin because they will be confused in this topic.
Investing money in doubler sites, cloud mining sites are the most common mistakes committed by newbies and majority of them will also get addicted to gambling to make quick money but end up loosing every thing at the end of the day.
Hi, with price soaring and newbies joining I found useful sharing this miniguide.
Hope this is appreciated
http://immutable.today/10-mistakes-bitcoin-newbies/
Great point on the credit card! Those fees are so ridiculous, that it's much better just to sign up to a real exchange like Coinbase. Hope this is appreciated
http://immutable.today/10-mistakes-bitcoin-newbies/
I think the most common mistakes made by newbies is they easily get attracted towards gambling to multiply their bitcoins in quick time but end up loosing everything and apart from that they also invest in online sites without doing any research.
Good article, especially I liked the parts on trading altcoins and on using faucets. Indeed you can lose a lot of money with the former, if you have no experience or if you think you have a magic strategy, and you can lose a lot of your time with the latter since nowadays the faucets mostly give you $0.001 per hour or even less. Visiting 200 faucets to earn just $0.2 would be a very absurd thing to do.
Biggest mistake is probably not having patience.
When I started I would buy Bitcoin and pay high fees because I wanted coins, waste time at faucets because I wanted dust,
and sell coins when the price dropped a few percent because I got nervous.
If you take a long-term approach and realize that it takes months or years to actually make money in crypto,
you will be more well informed and make better decisions. Read threads, research developer history etc. Learn about stock market trading because many of the same principles apply.
When I started I would buy Bitcoin and pay high fees because I wanted coins, waste time at faucets because I wanted dust,
and sell coins when the price dropped a few percent because I got nervous.
If you take a long-term approach and realize that it takes months or years to actually make money in crypto,
you will be more well informed and make better decisions. Read threads, research developer history etc. Learn about stock market trading because many of the same principles apply.
In my opinion, the first mistake that I notice that newbies make is that they think they still can earn with mining. They ask questions, make topics that are already done or meaning have been answered already. It's very easy to think that you can do that but you just have to read first in order to see that there is something that can be done with bitcoin and you could try to explain it to them how it works, over and over again. They have to know what the basics are first.
They can, but not with the bitcoin mining (asics), if they gpu mine shitcoins and convert to bitcoin they can earn something and also learn in the process.
One of the common mistake of newbies like me is spamming threads, and posting nonsense 
The article is quite accurate. I remember trying out multiple faucets, only to find out I have to accumulate like, 200k satoshis first before I get a payout. Then when I checked how much that would be in my currency, I was really pissed off. That's when I realized that save for buying bitcoins or working for them, there's really not much an individual can do to accumulate bitcoins.
Selling out is also a mistake I've made in the past. Anticipating a plunge, I sold some BTC. I was proved wrong and so is stuck with fiat in an exchange.
Selling out is also a mistake I've made in the past. Anticipating a plunge, I sold some BTC. I was proved wrong and so is stuck with fiat in an exchange.
Even after acquiring some btc, I entered the faucet world, and started trading for shitcoins.I thought I was making a killing on the short sales, but when I tallied up my profit over the week, and averaged out the hours that I put into monitoring my buys and sells, it was well under what I make from my "day job", if you will.
I got fucked with doublers and HYIPs; won't ever take that risk again.
Gambling, I'm still down 4.4BTC from it. So fuck gambling and dice-rolling ha.
It is a common mistake by newbies that they enter a hyped up coin in an exchange like Yobit and end up being a bag holder and the initial plan would be to learn trading and to take advantage of the price bubble but the sad part is that those coins will never have any movement and then the biggest issue i know people will encounter is forgetting the password and passphrase. You cannot make any coins through gambling ,but if you are lucky you might double or get busted. I got fucked with doublers and HYIPs; won't ever take that risk again.
Gambling, I'm still down 4.4BTC from it. So fuck gambling and dice-rolling ha.
In my opinion, the first mistake that I notice that newbies make is that they think they still can earn with mining. They ask questions, make topics that are already done or meaning have been answered already. It's very easy to think that you can do that but you just have to read first in order to see that there is something that can be done with bitcoin and you could try to explain it to them how it works, over and over again. They have to know what the basics are first.
I don't think that's the first thing that newbies are thinking. I think the most popular mistake of newbies is that when they started to claim satoshi's through faucets, they are thinking that it will always be the best way to earn bitcoins. But we know that it is not and it's just a waste of time if you are already had long time in bitcoin.
Knowing there is more in bitcoin than using faucets and there are more better than it, we can try signature campaign once our account qualified in a chosen campaign and do trading too. Using faucets were practiced ever since to be used by the newbies to have some capital for bitcoin activities though its too small and time consuming.
I remember when I used to use faucets and I thought I was making a lot when I was just gathering peanuts.
One of the newbie mistakes i can relate to was thinking you can get rich soon using faucets by investing a lot of time and effort in them but boy were we wrong 
Quote
Bitcoin payments are anonymous
This is not only a newbie mistake because most people still think it is...can not blame them, we were all at one time entangled to believe it was 
In my opinion, the first mistake that I notice that newbies make is that they think they still can earn with mining. They ask questions, make topics that are already done or meaning have been answered already. It's very easy to think that you can do that but you just have to read first in order to see that there is something that can be done with bitcoin and you could try to explain it to them how it works, over and over again. They have to know what the basics are first.
I don't think that's the first thing that newbies are thinking. I think the most popular mistake of newbies is that when they started to claim satoshi's through faucets, they are thinking that it will always be the best way to earn bitcoins. But we know that it is not and it's just a waste of time if you are already had long time in bitcoin.
Knowing there is more in bitcoin than using faucets and there are more better than it, we can try signature campaign once our account qualified in a chosen campaign and do trading too. Using faucets were practiced ever since to be used by the newbies to have some capital for bitcoin activities though its too small and time consuming.
In my opinion, the first mistake that I notice that newbies make is that they think they still can earn with mining. They ask questions, make topics that are already done or meaning have been answered already. It's very easy to think that you can do that but you just have to read first in order to see that there is something that can be done with bitcoin and you could try to explain it to them how it works, over and over again. They have to know what the basics are first.
I don't think that's the first thing that newbies are thinking. I think the most popular mistake of newbies is that when they started to claim satoshi's through faucets, they are thinking that it will always be the best way to earn bitcoins. But we know that it is not and it's just a waste of time if you are already had long time in bitcoin.
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