10 main mistakes of Bitcoin newbies - page 9.

mlferro

sr. member

Activity: 252

Merit: 250

Quote from: YuginKadoya on May 04, 2017, 09:04:36 AM

Quote from: bitcoindusts on May 04, 2017, 08:17:24 AM

Quote from: btcney on May 04, 2017, 04:01:16 AM

Quote from: d.adabit on February 26, 2017, 07:49:34 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/

I just saw this thread and even if it's 2 months old it's still relevant.

The main mistakes that I think are the most common in the newbies from that article are:

-Mining bitcoins - I remember when I joined bitcoin I wanted to mine, and basically my laptop got overheated and i couldn't bare the noise and eventually, my laptop just died and had to get it repaired. Got literally 0 from that.

- Trading altcoins, buying into shitcoins - I bought into a coin called Zetacoin because there was such a big hype over at cryptsy at the time. In the end it was near worthless, and i'm not even sure that people have exchanges for it.

- Buying coin with paypal/CC - The reason why people charge outrageous rates is because they have to assume that you are a scammer. If you are legit then you can always go through the process of verification and buy from Coinbase, or other big exchanges for close to 1% of spot price.

I guess this kind of thread will never grow old. There is always a new comer to Bitcoin, meaning there is always a newbie everyday and these newbies always commit this kind of mistakes. Sad but true, it even happen to me lol. I once thought that faucet is a good way to get a good amount of bitcoin but well I find that it is wrong and faucets are just dust and will never give us a good amount with regards to the time consumed.

You can say it is a total waste of time to do faucet, but it is not wrong to earn in faucets, I have started earning in faucets and at first I am happy of the results because I have learn how to make transaction over an online wallet for the first time and I have felt happiness because of the first payment I have made in it that turn out to be just a little amount and there is a lot more in earning bitcoin, but I never have think about faucets are wrong!

Certainly faucets are the easiest way to make first contact with bitcoin. I, I have the same opinion as you, and my story with bitcoin very close to yours. In fact, the faucets take a lot of time, but what the problem in staying a few hours visiting faucets? I do not see any problem. Often, you see a notice (in some advertisement) that you find interesting, and so you end up learning something positive or negative that will surely add to your experience.

nikkisnowe

member

Activity: 105

Merit: 10

If you got scammed in some way, shape, or form after entering the crypto market... Welcome to the club. It's basically a rite of passage. Consider yourself having passed the first test of Bitcoin (or whatever altcoin/scam you're into). I've been here since late 2011 and fell into playing Satoshi dice using a Martingale strategy. Thankfully I pretty much broke even however could have easily lost big time. There was an early Bitcoin prediction market that ultimately pulled an exit scam causing me to lose 2 or 3 bitcoins. Of course I had a number of bitcoins in Mt. Gox when that went down. I feel like an expert. After a while you learn the "Capital A, #1 rule of Bitcoin" Don't trust anyone or anything because everyone is out to separate you from your bitcoins.
Once again, welcome to the club.

Haladay

sr. member

Activity: 476

Merit: 250

Main common mistakes are listed below:
-Sharing the private key to the others.
-Forgetting the private key.
-Using online wallets.

HTracer

full member

Activity: 152

Merit: 100

Neat, brief good writing. Appreciated.
I have marked link to share on fitting occasions.

YuginKadoya

legendary

Activity: 3038

Merit: 1169

Quote from: bitcoindusts on May 04, 2017, 08:17:24 AM

Quote from: btcney on May 04, 2017, 04:01:16 AM

Quote from: d.adabit on February 26, 2017, 07:49:34 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/

I just saw this thread and even if it's 2 months old it's still relevant.

The main mistakes that I think are the most common in the newbies from that article are:

-Mining bitcoins - I remember when I joined bitcoin I wanted to mine, and basically my laptop got overheated and i couldn't bare the noise and eventually, my laptop just died and had to get it repaired. Got literally 0 from that.

- Trading altcoins, buying into shitcoins - I bought into a coin called Zetacoin because there was such a big hype over at cryptsy at the time. In the end it was near worthless, and i'm not even sure that people have exchanges for it.

- Buying coin with paypal/CC - The reason why people charge outrageous rates is because they have to assume that you are a scammer. If you are legit then you can always go through the process of verification and buy from Coinbase, or other big exchanges for close to 1% of spot price.

I guess this kind of thread will never grow old. There is always a new comer to Bitcoin, meaning there is always a newbie everyday and these newbies always commit this kind of mistakes. Sad but true, it even happen to me lol. I once thought that faucet is a good way to get a good amount of bitcoin but well I find that it is wrong and faucets are just dust and will never give us a good amount with regards to the time consumed.

You can say it is a total waste of time to do faucet, but it is not wrong to earn in faucets, I have started earning in faucets and at first I am happy of the results because I have learn how to make transaction over an online wallet for the first time and I have felt happiness because of the first payment I have made in it that turn out to be just a little amount and there is a lot more in earning bitcoin, but I never have think about faucets are wrong!

bitcoindusts

sr. member

Activity: 1050

Merit: 269

Quote from: btcney on May 04, 2017, 04:01:16 AM

Quote from: d.adabit on February 26, 2017, 07:49:34 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/

I just saw this thread and even if it's 2 months old it's still relevant.

The main mistakes that I think are the most common in the newbies from that article are:

-Mining bitcoins - I remember when I joined bitcoin I wanted to mine, and basically my laptop got overheated and i couldn't bare the noise and eventually, my laptop just died and had to get it repaired. Got literally 0 from that.

- Trading altcoins, buying into shitcoins - I bought into a coin called Zetacoin because there was such a big hype over at cryptsy at the time. In the end it was near worthless, and i'm not even sure that people have exchanges for it.

- Buying coin with paypal/CC - The reason why people charge outrageous rates is because they have to assume that you are a scammer. If you are legit then you can always go through the process of verification and buy from Coinbase, or other big exchanges for close to 1% of spot price.

I guess this kind of thread will never grow old. There is always a new comer to Bitcoin, meaning there is always a newbie everyday and these newbies always commit this kind of mistakes. Sad but true, it even happen to me lol. I once thought that faucet is a good way to get a good amount of bitcoin but well I find that it is wrong and faucets are just dust and will never give us a good amount with regards to the time consumed.

Antoshka

sr. member

Activity: 270

Merit: 250

Quote from: btccashacc on May 04, 2017, 04:35:55 AM

Quote from: d.adabit on February 26, 2017, 07:49:34 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/

I just visited your site i know i'm too late it's already 2 months here. After reading your blog I think I’ve been in the same situation like those the "newbies" especially point 3,5 and 8. I'm starting with point 3 the "panic selling" i bought bitcoin at 600+ dollars resell at 280 dollars totally crazy, i ever thought to mining bitcoin by myself which is too impossible for a newbie, and the last point is "Rich soon with Faucets" well i've been passed this it was freebitcoin i thought that we could be rich by doing so how funny when you only got less than 5 dollars monthly from faucet.

I agree with many points.
And it's impossible to get bitcoin on cranes now. It's a waste of time. Even $ 5 a month is hard to make. But beginners often do not understand this

btccashacc

legendary

Activity: 1120

Merit: 1000

Quote from: d.adabit on February 26, 2017, 07:49:34 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/

I just visited your site i know i'm too late it's already 2 months here. After reading your blog I think I’ve been in the same situation like those the "newbies" especially point 3,5 and 8. I'm starting with point 3 the "panic selling" i bought bitcoin at 600+ dollars resell at 280 dollars totally crazy, i ever thought to mining bitcoin by myself which is too impossible for a newbie, and the last point is "Rich soon with Faucets" well i've been passed this it was freebitcoin i thought that we could be rich by doing so how funny when you only got less than 5 dollars monthly from faucet.

DD-Lex

full member

Activity: 120

Merit: 100

Quote from: batang_bitcoin on May 04, 2017, 04:14:20 AM

Quote from: Leprikon on May 04, 2017, 03:22:06 AM

Quote from: Format.C^ on May 03, 2017, 02:50:24 PM

Investing in cloud mining, doubler sites and going for gambling are the mistakes committed by most of the newbie as even I have made that mistakes in the past when I was newbie so we cannot blame them as its an common practice in bitcoins.

There you can get money only with great luck, but as a rule, many just lose money there and miss the opportunity to start making real bitcoin.

So you are not aware that those type of investments are scam? You even don't need have luck for it. Because most of the newbies are thinking that it is an easy way to earn bitcoin but the real thing is that those ways are truly fooling us and it's a scam attempt for those people that are lack of knowledge in the bitcoin economy such as newbies.

Basically, such scams come across beginners or with a bit of experience who want to get a lot of easy money.

batang_bitcoin

hero member

Activity: 3080

Merit: 603

Quote from: Leprikon on May 04, 2017, 03:22:06 AM

Quote from: Format.C^ on May 03, 2017, 02:50:24 PM

Investing in cloud mining, doubler sites and going for gambling are the mistakes committed by most of the newbie as even I have made that mistakes in the past when I was newbie so we cannot blame them as its an common practice in bitcoins.

There you can get money only with great luck, but as a rule, many just lose money there and miss the opportunity to start making real bitcoin.

So you are not aware that those type of investments are scam? You even don't need have luck for it. Because most of the newbies are thinking that it is an easy way to earn bitcoin but the real thing is that those ways are truly fooling us and it's a scam attempt for those people that are lack of knowledge in the bitcoin economy such as newbies.

btcney

hero member

Activity: 588

Merit: 500

Quote from: d.adabit on February 26, 2017, 07:49:34 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/

I just saw this thread and even if it's 2 months old it's still relevant.

The main mistakes that I think are the most common in the newbies from that article are:

-Mining bitcoins - I remember when I joined bitcoin I wanted to mine, and basically my laptop got overheated and i couldn't bare the noise and eventually, my laptop just died and had to get it repaired. Got literally 0 from that.

- Trading altcoins, buying into shitcoins - I bought into a coin called Zetacoin because there was such a big hype over at cryptsy at the time. In the end it was near worthless, and i'm not even sure that people have exchanges for it.

- Buying coin with paypal/CC - The reason why people charge outrageous rates is because they have to assume that you are a scammer. If you are legit then you can always go through the process of verification and buy from Coinbase, or other big exchanges for close to 1% of spot price.

Leprikon

sr. member

Activity: 280

Merit: 250

Quote from: Format.C^ on May 03, 2017, 02:50:24 PM

Investing in cloud mining, doubler sites and going for gambling are the mistakes committed by most of the newbie as even I have made that mistakes in the past when I was newbie so we cannot blame them as its an common practice in bitcoins.

There you can get money only with great luck, but as a rule, many just lose money there and miss the opportunity to start making real bitcoin.

nightxglow

sr. member

Activity: 700

Merit: 251

i just found this and only can say one word. Amazing! Thank you! I'm clearly clueless here and only know some kind of things about bitcoin. And reading that article really opens my eyes! now i know what should and i shouldn't do here. it gives me quite knowledge so i won't make mistake in the future. thanks for sharing this!

kikeda

sr. member

Activity: 364

Merit: 250

Super Smash Bros. Ultimate Available Now!

Quote from: Format.C^ on May 03, 2017, 02:50:24 PM

Investing in cloud mining, doubler sites and going for gambling are the mistakes committed by most of the newbie as even I have made that mistakes in the past when I was newbie so we cannot blame them as its an common practice in bitcoins.

That is a common practice at initial stage but its good if people learn from their mistakes and don't repeat the same mistake again in future or else they will never be earning any money from bitcoins.

Format.C^

hero member

Activity: 714

Merit: 500

Investing in cloud mining, doubler sites and going for gambling are the mistakes committed by most of the newbie as even I have made that mistakes in the past when I was newbie so we cannot blame them as its an common practice in bitcoins.

transabox

full member

Activity: 177

Merit: 100

Quote from: ?? on ??

"Buy on breaking news and when price soars" I think for me this is a mistake that i would advice newbie not to make. because firstly bitcoin is just like any other market instrument and the basic rule is buy when price is low and sell when high. So it's totally wrong to buy in a soar period

Why is it wrong? The newbie can not guess exactly when the price has not yet started to rise. And when he sees a clear trend of growth, then you can buy. So there will be confidence that the price will rise in a few days or weeks

boyptc

hero member

Activity: 3024

Merit: 680

★Bitvest.io★ Play Plinko or Invest!

Quote from: ?? on ??

Quote from: boyptc on May 01, 2017, 10:55:08 AM

Quote from: alphablitzer on May 01, 2017, 04:10:29 AM

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.

You will come to know that its a waste of time only after you get older in bitcoin world but when you are new to bitcoin even you will start claiming faucets as at that time that is the only choice for you to earn bitcoins so I don't think that its a mistake.

Yeah it is surely a waste of time when you are already into it. And of course for the newbies, it will be exciting for them, because they are thinking that they can earn money or bitcoin for free. But they will realize it that the amount that they are earning with faucets aren't that really high. And that's a common mistake that is happening.

virasog

legendary

Activity: 2954

Merit: 1159

Quote from: J9901 on May 01, 2017, 12:18:47 PM

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.

Exactly, that thing happened to me before, I was attracted with those offer to every bet I made, also the point of investing to some site not making some background check or research. That must be notify by those newbies around. The sites tires to take advantages of Newbies and we should warn the Newbies before hand.

Dogeboi3210

newbie

Activity: 41

Merit: 0

Quote from: Doms on May 02, 2017, 02:18:32 AM

Quote from: J9901 on May 01, 2017, 12:18:47 PM

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.

Yeah, plus there's no point getting into those when Bitcoin itself is the primary investment to watch anyways.

DoublerHunter

hero member

Activity: 2590

Merit: 644

Quote from: Doms on May 02, 2017, 02:18:32 AM

Quote from: J9901 on May 01, 2017, 12:18:47 PM

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.

This are the sites that are completely ponzi scheme and we should not trust those sites especially if they offer higher returns in any investment that they offer because if they are legit investment then they will offer a lower return but a longer service unlike the new investments sites that are fakes that is just lasting at least a month and running away with the stolen bitcoins or money.

Topic: 10 main mistakes of Bitcoin newbies - page 9. (Read 20901 times)