10 main mistakes of Bitcoin newbies - page 13.

Intersan

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Quote from: canah17 on February 26, 2017, 08:42:08 AM

Quote from: d.adabit on February 26, 2017, 06:49:34 AM

Hi, with price soaring and newbies joining I found useful sharing this miniguide.
Hope this is appreciated

http://immutable.today/10-mistakes-bitcoin-newbies/

Wow! this is one great site for newbies Cheesy

it has a explanation on what not to do and what to do Cheesy

its certainly amazing i read it and its new to me too i learn so much things in reading the site. My rank is big but i have not enough knowledge on bitcoin and some of it i have did when i was a newbie >.< i really got shocked on reading it all and what i did really but also i learned that i haven't learned when i was here in this forum Cheesy

i really appreciate the site

Thank you

Yeah I agree with you. Credits to the one who started this thread. I hope newbies like me will be able to read this before pursuing on our journey here.

mmo_online_1981

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The most important thing is: BTC is not as private as you think, via blockchain can determine who the sender
Thanks

Format.C^

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Quote from: bncbnc on April 09, 2017, 06:49:47 PM

Quote from: stripykitteh on April 09, 2017, 12:02:49 PM

Quote from: Ankara on April 09, 2017, 11:58:06 AM

Quote from: zimmah on March 26, 2017, 08:03:02 AM

Quote from: SONG GEET on February 26, 2017, 07:13:04 AM

This article have missed to cover about low fee newbies used to put to save cost on payments leading unconfirmed transaction for many hours. That will make them panic about bitcoin and they will start blaming bitcoin network for it and some may even opt out from the idea of using bitcoin again. Grin

Actually bitcoin was never meant to have high fees, that just got introduced recently by Blockstream.

And that is a big turn off for me.

I don't mind paying a nice fee to miners but it is getting to be a joke now.

I am pretty sure that the transaction fee will get changed when Bitcoin goes more mainstream because people can't afford to send another person 0.0001 BTC just so the other person could get about a dollar or so. When I was using Bitcoin to send transactions with a Bitcoin client called Multibit, the transaction fee was usually set to 0.0001 even if the price went up. Now that there is a client update, the transaction fee gets really high when sending payments and there isn't any easy method to manually change it unless the code is rewritten.

yes that is a big problem which must be solve on priority basis i think. it is now creating problem for the people.

If you want to get rid of this problem then add higher fees and every thing will be fine as I don't think that its an big issue as people who are earning bitcoins are willing to wait even if it takes some time for transaction to get confirmed.

bncbnc

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Quote from: stripykitteh on April 09, 2017, 12:02:49 PM

Quote from: Ankara on April 09, 2017, 11:58:06 AM

Quote from: zimmah on March 26, 2017, 08:03:02 AM

Quote from: SONG GEET on February 26, 2017, 07:13:04 AM

This article have missed to cover about low fee newbies used to put to save cost on payments leading unconfirmed transaction for many hours. That will make them panic about bitcoin and they will start blaming bitcoin network for it and some may even opt out from the idea of using bitcoin again. Grin

Actually bitcoin was never meant to have high fees, that just got introduced recently by Blockstream.

And that is a big turn off for me.

I don't mind paying a nice fee to miners but it is getting to be a joke now.

I am pretty sure that the transaction fee will get changed when Bitcoin goes more mainstream because people can't afford to send another person 0.0001 BTC just so the other person could get about a dollar or so. When I was using Bitcoin to send transactions with a Bitcoin client called Multibit, the transaction fee was usually set to 0.0001 even if the price went up. Now that there is a client update, the transaction fee gets really high when sending payments and there isn't any easy method to manually change it unless the code is rewritten.

yes that is a big problem which must be solve on priority basis i think it is now creating problem for the people. i think there must have a proper mechanism for the increasing the transaction fee.

Theb

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Most of this newbie mistake is what I have similarly have done to be honest Grin

. In fact most of them are about earning more Bitcoin as usual as Newbies have the wrong perception that Bitcoin is an easy money that it is a type of currency that can easily be accumulated online or through mining. Mentioning about Mining I almost have bought a rig just for it but luckily I have read an article about that I won't accumulate my profit by just a regular mining rig with graphics card.

doggieTattoo

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Quote from: stripykitteh on April 09, 2017, 12:02:49 PM

Quote from: Ankara on April 09, 2017, 11:58:06 AM

Quote from: zimmah on March 26, 2017, 08:03:02 AM

Quote from: SONG GEET on February 26, 2017, 07:13:04 AM

This article have missed to cover about low fee newbies used to put to save cost on payments leading unconfirmed transaction for many hours. That will make them panic about bitcoin and they will start blaming bitcoin network for it and some may even opt out from the idea of using bitcoin again. Grin

Actually bitcoin was never meant to have high fees, that just got introduced recently by Blockstream.

And that is a big turn off for me.

I don't mind paying a nice fee to miners but it is getting to be a joke now.

I am pretty sure that the transaction fee will get changed when Bitcoin goes more mainstream because people can't afford to send another person 0.0001 BTC just so the other person could get about a dollar or so. When I was using Bitcoin to send transactions with a Bitcoin client called Multibit, the transaction fee was usually set to 0.0001 even if the price went up. Now that there is a client update, the transaction fee gets really high when sending payments and there isn't any easy method to manually change it unless the code is rewritten.

If you are using multibit wallet then you will find the same fees even at this stage and you cannot add higher fees as they don't have any option to add higher fees and in that case it may take even 2 days for the transaction to get confirm and that is really annoying.

stripykitteh

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Quote from: Ankara on April 09, 2017, 11:58:06 AM

Quote from: zimmah on March 26, 2017, 08:03:02 AM

Quote from: SONG GEET on February 26, 2017, 07:13:04 AM

This article have missed to cover about low fee newbies used to put to save cost on payments leading unconfirmed transaction for many hours. That will make them panic about bitcoin and they will start blaming bitcoin network for it and some may even opt out from the idea of using bitcoin again. Grin

Actually bitcoin was never meant to have high fees, that just got introduced recently by Blockstream.

And that is a big turn off for me.

I don't mind paying a nice fee to miners but it is getting to be a joke now.

I am pretty sure that the transaction fee will get changed when Bitcoin goes more mainstream because people can't afford to send another person 0.0001 BTC just so the other person could get about a dollar or so. When I was using Bitcoin to send transactions with a Bitcoin client called Multibit, the transaction fee was usually set to 0.0001 even if the price went up. Now that there is a client update, the transaction fee gets really high when sending payments and there isn't any easy method to manually change it unless the code is rewritten.

iv4n

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Quote from: finity on April 09, 2017, 11:55:08 AM

Newbies are very much addicted to make quick money and for the same reason they start visiting gambling sites hoping to double their coins in a single day but usually they end up loosing and this is the most common mistake I have seen so far committed by newbies.

Well gambling has nothing with bitcoin newbie mistakes, in this article its very nice explained common mistakes of some beginner and I agree with writer. 2 years ago I also thought that I can be rich with faucets, trading with crypto also was something I first time saw here, I kept my money at online wallet. But yes people think they can gamble the way trough, its not easy I know because I gamble every day, but generally some people win nice amounts with gambling, I made more bitcoins with gambling then with anything else.
Good article, I hope there will be more like this one.

Ankara

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Quote from: zimmah on March 26, 2017, 08:03:02 AM

Quote from: SONG GEET on February 26, 2017, 07:13:04 AM

This article have missed to cover about low fee newbies used to put to save cost on payments leading unconfirmed transaction for many hours. That will make them panic about bitcoin and they will start blaming bitcoin network for it and some may even opt out from the idea of using bitcoin again. Grin

Actually bitcoin was never meant to have high fees, that just got introduced recently by Blockstream.

And that is a big turn off for me.

I don't mind paying a nice fee to miners but it is getting to be a joke now.

finity

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Newbies are very much addicted to make quick money and for the same reason they start visiting gambling sites hoping to double their coins in a single day but usually they end up loosing and this is the most common mistake I have seen so far committed by newbies.

jorneyflair

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Quote from: asdalani on March 26, 2017, 08:01:22 AM

Quote from: loposki on March 18, 2017, 02:14:25 PM

Lovely piece here. Especially about the faucets. There is no bigger waste of time than faucets

Bitcoin Faucets are a nice source of income if the drips are used in a wise manner. I've noticed people building faucet bots that filled in Captcha's automatically and they would just collect the coins that they made and cashout whenever they could.
That's an easy money technique that someone could use on the side without doing much work.
I think that you'd be pretty surprised at the amount of people that are using Bitcoin Faucet bots online.

Obviously, the captcha bot is something great for all faucet site, but it doesnt make sense to even try it manually.
Moreover, you need to have coding experience / be a coder to build some automated programme like that, im sure it is not so easy as it looks, because that could pretty much generate never-ending income- obviously in case of staying in secret, but I doubt that the faucet devs would not know about this for a long time.

Im pretty sure that most of newbies mistakes are putting their own money ( converted to btc before that ) into particular sites like HYIP, cloudmining, ponzi's, MLM etc.
In my opinion, as a newbie in this cryptocurrency world you should totally stay away of investing, unless you want to lose your money.
First educate and gain knowledge about bitcoin and cryptos generally, then start thinking how can you monetize your abilities.

Catswold

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Quote from: ogoowinner on April 08, 2017, 01:53:42 PM

I went through the link. But I have a question. How else can I store my Bitcoin apart from the online bitcoin wallets like coinbase and blockchain? is there a way I can store my Bitcoin offline? Please if there is, I'll like to know. Thanks.

Never put your bitcoins on online wallets or exchange sites as there is risk of loosing your coins as it can be hacked by the hackers so I suggest you to use electrum wallet to save your bitcoins as its very safe and secure and its very safe too.

ogoowinner

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I went through the link. But I have a question. How else can I store my Bitcoin apart from the online bitcoin wallets like coinbase and blockchain? is there a way I can store my Bitcoin offline? Please if there is, I'll like to know. Thanks.

OrangeII

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Well, this is a very good article, even for those who have been long in bitcoin. well, especially when people are first exposed to bitcoin, would be very easy to believe in the sites are so many scam sites that promise profits in a very short time.

YuginKadoya

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Quote from: virasog on March 13, 2017, 08:45:36 AM

Quote from: YuginKadoya on March 13, 2017, 07:33:46 AM

Quote from: mrjoy15 on March 10, 2017, 06:47:03 AM

Quote from: YuginKadoya on March 10, 2017, 06:20:30 AM

Quote from: ASHLIUSZ on March 10, 2017, 01:31:27 AM

Quote from: NEWGOODOUBLE on March 10, 2017, 01:20:07 AM

Quote from: Ucy on March 05, 2017, 06:46:50 AM

Wow that part about mining is really eye opening. Most Information online about mining are indeed disgraceful. People just lie for the fun of lying? I still prefer to be poor than be a crook.

Great article bro.

mining scam now become an arena for some bad people because many hyip sites and ponzi claiming to be a mining investment so that they can get a lot of users and deceived newbie very easily deceived

Long back itself the same has been taking place. Ponzi schemes and scam websites easily trap newbies. They believe that through bitcoin we can earn in a short term. The same mindset makes them easily accept the HYIP and invest big. The reality will be understood by them once they loss it.

Well some mistake will be certainly be make by some newbies and even if they are not new to bitcoin they can certainly make mistakes I think it is best to read more about certain knowledge here in the forum ask for help, I really think that most people here are kind and helping with newbies that is why put that in you daily things to do and in no time you would learn much for the benefit in earning BTC.

Investing in hyip's or connecting any Ponzi scheme's website certainly one of the most common mistake of a newbie because they have not certainly good knowledge about investment models and working tendency to get profit. And yes, reality is different understood by losing it.

We can not rebuke any newbies because of the wrong things they are doing with bitcoin we can not certainly put the blame on the newbies I think we should blame ourselves, I think we as seniors should be the one to teach and make them progress in getting much higher with bitcoin any little question newbies would ask here we as seniors would try our best in answering it,

Bitcoin is easily gettable online and therefore many newbies got bitcoins. But many sites exploit this and make attractive sites where they can double in days or hours. This way newbies in bitcoin invest in scam schemes and eventually lost their money.
This is only one factor i discuss here. There are a lot of other mistakes which are bring done by newcomers in bitcoin world.

That is why we should help newbies the right way so they can not be victimize by this scammers and as seniors I think we can really make a stop in the wrong doings of newbies with their bitcoin and start in taking some actions by showing them the right way! I know showing faucets is a waste of time but they are newbies and I think learning how to transact with your bitcoin wallet is a thing they need to learn first and getting their first bitcoin to get them motivated I thing that is the role faucets have!

YTBitcoin

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Quote from: n0ne on March 27, 2017, 12:55:40 AM

Quote from: poetra2501 on March 27, 2017, 12:51:25 AM

Quote from: geopolisch on March 26, 2017, 11:20:55 PM

Quote from: Kotone on March 26, 2017, 09:26:55 AM

Quote from: d.adabit on February 26, 2017, 06:49:34 AM

Hi, with price soaring and newbies joining I found useful sharing this miniguide.
Hope this is appreciated

http://immutable.today/10-mistakes-bitcoin-newbies/

Not all in there are true there are times that commonly mistake of newbies they will learned from that mistake while they having a good experience encountering their mistakes. Like what i did when im newbie

The only mistake that I can think off, is giving up, I personally though bitcoin was a cool idea at first and was exited to learn more about it, but when I came to the part where I wanted to earn the only thing that I have found were faucets that don’t pay that much and this was like back in 2010 when bitcoin was still a fresh thing, so Imagine if I kept searching for a way I would have got so much bitcoin right now.

The first mistake of beginners in bitcoin is their view about Bitcoin. They often assume that
this cryptocurrency (Bitcoin) is a scam. Yeah, when I first know about bitcoin I'm also like it.
Because I know of bitcoin from the MMMG. After I joined this forum I'm will be know that Bitcoin is a Cryptocurrency.

Very few users having a similar thinking that bitcoin and other cryptocurrencies were scam. In my opinion beginners in bitcoin have a thinking of being rich through bitcoin in a short time period. Based on this easily getstrapped into several Ponzi schemes and losses. Such an activity creates an negative thought about bitcoin in their minds.

when a newbie come to hear about crypto world he hear about bitcoin and through bitcoin he come to crypto world as it is a more reliable currency and if they get the knowledge about bitcoin from an expert person and he explain everything in good way then he will not consider it as scam and if someone will give only incomplete info about bitcoin then they will doubt on it and will consider it as scam and other coins too.

Ewox

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Quote from: dothebeats on February 26, 2017, 12:02:38 PM

Recommended it to one of my not-so-techie friend and he finds the read a good one and was able to answer some of my questions in relation to that article. It's nice that the writer made sure that he covered some of the basic stuff, especially keeping your coins in a safe place which is really nice to look at.

I agree with you, it has been very useful and was a good read for those who are not that computer literate. I sent the link to one of my cousin who was interested in bitcoin, I gave her that link and said it was very helpful and easy to understand. It was a helpful guide for those newbies, thanks to the writer.

iqlimasyadiqa

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This is one important point for a newbie. much going wrong perception for users who are new to bitcoin.
I think this is very helpful, especially if this article can be distributed to people.

Aikonio

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Quote from: n0ne on March 27, 2017, 12:55:40 AM

Quote from: poetra2501 on March 27, 2017, 12:51:25 AM

Quote from: geopolisch on March 26, 2017, 11:20:55 PM

Quote from: Kotone on March 26, 2017, 09:26:55 AM

Quote from: d.adabit on February 26, 2017, 06:49:34 AM

Hi, with price soaring and newbies joining I found useful sharing this miniguide.
Hope this is appreciated

http://immutable.today/10-mistakes-bitcoin-newbies/

Not all in there are true there are times that commonly mistake of newbies they will learned from that mistake while they having a good experience encountering their mistakes. Like what i did when im newbie

The only mistake that I can think off, is giving up, I personally though bitcoin was a cool idea at first and was exited to learn more about it, but when I came to the part where I wanted to earn the only thing that I have found were faucets that don’t pay that much and this was like back in 2010 when bitcoin was still a fresh thing, so Imagine if I kept searching for a way I would have got so much bitcoin right now.

The first mistake of beginners in bitcoin is their view about Bitcoin. They often assume that
this cryptocurrency (Bitcoin) is a scam. Yeah, when I first know about bitcoin I'm also like it.
Because I know of bitcoin from the MMMG. After I joined this forum I'm will be know that Bitcoin is a Cryptocurrency.

Very few users having a similar thinking that bitcoin and other cryptocurrencies were scam. In my opinion beginners in bitcoin have a thinking of being rich through bitcoin in a short time period. Based on this easily getstrapped into several Ponzi schemes and losses. Such an activity creates an negative thought about bitcoin in their minds.

Yes you are right. Scammers attract newcomers with bright advertising offers. But in fact they will only win losses.
Newbies should read cognitive and normal forums. Will make this forum. Here will help to understand

n0ne

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Quote from: poetra2501 on March 27, 2017, 12:51:25 AM

Quote from: geopolisch on March 26, 2017, 11:20:55 PM

Quote from: Kotone on March 26, 2017, 09:26:55 AM

Quote from: d.adabit on February 26, 2017, 06:49:34 AM

Hi, with price soaring and newbies joining I found useful sharing this miniguide.
Hope this is appreciated

http://immutable.today/10-mistakes-bitcoin-newbies/

Not all in there are true there are times that commonly mistake of newbies they will learned from that mistake while they having a good experience encountering their mistakes. Like what i did when im newbie

The only mistake that I can think off, is giving up, I personally though bitcoin was a cool idea at first and was exited to learn more about it, but when I came to the part where I wanted to earn the only thing that I have found were faucets that don’t pay that much and this was like back in 2010 when bitcoin was still a fresh thing, so Imagine if I kept searching for a way I would have got so much bitcoin right now.

The first mistake of beginners in bitcoin is their view about Bitcoin. They often assume that
this cryptocurrency (Bitcoin) is a scam. Yeah, when I first know about bitcoin I'm also like it.
Because I know of bitcoin from the MMMG. After I joined this forum I'm will be know that Bitcoin is a Cryptocurrency.

Very few users having a similar thinking that bitcoin and other cryptocurrencies were scam. In my opinion beginners in bitcoin have a thinking of being rich through bitcoin in a short time period. Based on this easily getstrapped into several Ponzi schemes and losses. Such an activity creates an negative thought about bitcoin in their minds.

Topic: 10 main mistakes of Bitcoin newbies - page 13. (Read 20931 times)