Topic: A mistake you would surely regret - page 4. (Read 1127 times)

One of the biggest lies people who invest in crypto are told is that they should build a portfolio of projects and not put all their eggs in one basket.

In reality by investing in bitcoin you invest in the only project that really matters. All those other shitcoins will not exist without bitcoin. Also, bitcoin crashes make the rest crash, so by investing in altcoins you only increase your risk by a certain factor. It's like playing a roulette where you used to bet on colors, but now you also add a number. Maybe it hits and you'll be rich, but maybe it won't. The problem is that a number has a much higher chance of not winning than a color.

Just buy bitcoin, bet on a fighter you know is good, not on someone you've never seen fight, who claims that he's good but is yet to prove it.

Investment is risky. It's advisable to have a proper risk:reward plan and follow before selecting the coins/assets to research and invest in. Else, you'll be going round the circles by making such mistakes and losing to shit coins.

Crazy influencers as they seem to be relevant only this season but when the market is in bear, they're gone and no longer relevant and giving tips. When a newbie starts to rely on these hypes and crypto influencers that are telling them they'd make xx money investing on a shilled project, that's already where they're going to see how their money will be gone easily. Some may profit but most of them are just quick money and if they wouldn't man and wise up with how they make from those shilled projects. They'd repeat the process and the second or third time around, they'll be the ones that are going to be eaten by this whole market losing them money and will make them realize that they'd been doing it wrongly.

The cryptocurrency industry is seasonal and there are many things that accompanies each season. For instance during the bear market season, it is FUD that characterizes the season which makes is very difficult for people to invest in a particular project when the price is very low. But didn't the bull season another attribute of the market that comes to play is FOMO. At this time people will jump into new and old projects that are already climbing to the green side of the market and before they could join the market could refers back to the red lane, you will see many complaints. It is not uncommon that many projects enter the market during the bull run. This is the fake and scam projects blossom. They actually cannot stand the taste of the bear market.

A beginner should not think of investing into 5 different cryptocurrency because he is new and have little knowledge on the market. He needs to focus on only the king of all cryptocurrency which is bitcoin, so that he does not buy the wrong c pin that will lead him to great loss, that will make him regret of investing. Bitcoin should be the only cryptocurrency that can give you profit currently which out making any research or having broad knowledge in the crypto market. It is as easy as buy from an exchange and transfer to your noncustodial wallet, and hodli, instead of buying garbage that you can wake up one morning and see the value at zero.

Investment that promises rapid returns over a short period of time using the bull run as an advantage is most times fraudulent, because an actual investment that's true do needs sometimes to grow and mature enough for harvest although there are some genuine investment too that literally goes up rapidly sometimes and the investor could be lucky to make some profit from it but then if you are trying to invest you have to be careful not to fall victim of fraudulent investors who are actually scammers. We are always advised to invest in things we know we'll enough by ourselves.

Most coins following the Bull run will definitely appreciate and investing in them by just buying and hodling will turn out more profitable than trying to invest with all these influencers online who could be influencing fraudulent projects which at the end of the day you loose rather than been profitable, I advise that you visit an exchange, look for coins that has got potentials, buy them and HODL while keeping your password safe so as to not Grant an unauthorized access to your portfolio and after a while you could sell off and make profit, a very simple yet effective and profitable way of investing in cryptocurrency.

It's a free speech forum, we can all say what we feel like, I am not a beginner and I will still stand on my point that I've never been scammed in this bull market investing in altcoins, few people on this forum are even asking me for altcoin names that I feel would do very well, I am not trying to show off, I have only learn from my past lessons.

What you missed is that I was once a newbie too, I made many mistakes, lost money to scam projects and other, but I learn from it, this was back in 2017 and that's that, but today I don't fall into the hands of scam altcoins again, I think it's better if you can ask how instead of trying to prove me wrong when I am right.

There is actually a way and not many people reason the whole thing the way I did and that's why I always have better result when picking my altcoins, if you hear the solution you won't doubt it instantly, there is actually two ways that you can escape from scam altcoins, but at the end of the day, your entry point and selling point is all that matters.

During the bull market, many investors get confused and don't know exactly what to do in a way that will favor them in the market. However, during the bull market, scammers are very active and come up with fake projects to scam people, and at this moment, many investors think all the coins are getting pumping because they see that bitcoin has already reached ATH, which is not through. Also, at this moment, many influencers are also active in promoting scam projects because they paid for them, so we should know that those influencers did not also invest in the projects they were promoting, but rather find another legit coin to invest in.

Furthermore, greed also contributes to investor failure, including a lack of proper research and investigation before investing, which are the key things we should do before investing. So it will be good for us if we do proper research before putting our money into any project, especially during the bull market. We should keep greed aside so we can achieve something during the bull market. However, waiting for outrageous profit is not a problem as long as there is hope of the coin reaching such a target since everyone invests to take profit from their investment.


Investing in shitcoins is never a good idea. Getting legit coins is what we should all do. Shitcoins may even disappear after we have invested in them.   

That's the nature of humans. We tend to believe that every bad experience should've a compensatory reward when revisited. Again, some will reason that they could be very fast to get in and out of the scheme. Incidentally, most of them get caught in the web.

Well, on a long run; yes Bitcoin will be better. However, on a short term investment altcoins will out perform Bitcoin in terms of ROI. Those who know how to plot TA and carry out onchain analysis will be better equipped trading alts and benefitting maximally from it than buying Bitcoin and letting it lie idle in a wallet and then claim they're hodling it.

I also do think so too, especially if a certain percentage or amount is mentioned as a specific reward. Businesses don't work that way with that level of assurance and certitude of profit making. It's the market that can decide  it.

Who would be crazy enough to invest in 100 shit coins? Even if they are nonshit coins isn't 100 way too much? This day that new project will abandon their old smart contract for a new one all of a sudden, and to be informed you need to stay active in their telegram group or their Twitter account, imagine having to keep updated with 100s of all altcoins, that's so unreal.

Apart from the numbers you called, where will be money come from? Because I do know that the minimal amount that people like investing in crypto is a hundred dollars, so assuming one now starts investing 100 in each project that's a total of $10,000 lol, beginners can't risk this high amount unless they are crazy.

I have invested over 10k since the beginning of 2022 and I am over 40k right now in value but that's because it's been a long since I got into crypto, I know where to put my money for easy gains and also to spot the right altcoins, I don't think any newbie will have 100s of altcoins in their portfolio, that's total madness.

The issue with normal or average investors is that they don't want to go through the stress of doing research to get quality information about a project they would like to invest in or doesn't even know what to look out for when doing those research so they end up relying on crypto influencers who knows all the sweet things to say to spice thigns up and they woudl be in his words and invest in such and the others set of investors fall into the category of not wanting to accept responsibility the of making their own decision and would still rather follow the crowd.

Desperacy and greed is the keen luring those Investors who investors of projects that they only cares about the speculations without undergoing researches to enquire and ensures it's a that's worth Investing on without having to regret it at last.
Op you've said it all that's better to be grateful and contented with your reliable holdings than taking the measures of enlarging your holdings and then you falls victims of the shitcoins with the funds of not being affordable to be lost but if you must take such risky then you should be aware that anything can happen so you could trade with the amount of fund possible to let go in case the journey didn't go as thought.

TBH, I've been watching many crypto influencers these past few months to make an experiment.

I've watched I think 5 YouTube Crypto Influencers and observed the videos and the coins that they're promoting on their project. Well, some of them are kind of shilling those top coins while some of them are kind of promoting a new project for them to be paid, and at the same time, can get some profits either through referrals or through selling the coin (if they will have some). Like what OP said, don't focus on what these influencers are saying in their video because anybody can make their video if they want to. You can watch them but don't get attracted by their explanation of that new project instead, do your research, and it would be better if you will just focus on the top coins if possible.

I've heard this many times, but still, some people want to go all in hoping that they can maximize their profit when they invest in a coin. If you can't apply this "Invest what you can afford to lose" in your investing journey, I guess just buy Bitcoin.

Let's assume that every newbies have some money they are willing to risk, how the hell can they keep up with investing in every single projects that they come across? Every friends that are also crypto investors have already run out of money, and they have few numbers of altcoins, it's rare to see a newbie that have a lot of money and be so desperate to invest in everything they see, I feel this is too overexagerrated.

Anyways, thanks for the advice, those who will listen and make amendment will do it and those who will ignore will still ignore, mistakes are some peoples true masters, they don't change until they make some mistakes and learn their lessons.

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Invest in 10 altcoins and you are already out of money, I know someone who invested in 25 altcoins in 2020 and he did very well, he invested $100 in each of the coins and over half of the coins did very well in 2021, I think it will be more easier to manage less altcoins instead of high numbers of them and also it expose one to more risks, because some of them can just rugpull on you at anytime.

If you experienced the last bull and fell into the hands of one of this shit coin that frustrate you, and you eventually lost your money, you don't need any advice from anyone for you to stay of any coin that is not Bitcoin, but if you still go an invest in shit or alt again after your experience, it shows that you haven't learnt anything from the past.

And for those people that are new in the crypto industry, if you have a clear insight on how things goes around here, I would suggest that if you are too stubborn, that you want to invest in anything other than Bitcoin, because to me, it's the real deal, then invest in coin like enthereum, and bnb that have already proven their self that they are not a scam project, but if you are totally new here, then I suggest you invest in Bitcoin only, to be at the safer side, but as for me, am investing only on Bitcoin because it's the real deal.

Once you see projects that have promises to have a return, that’s already a red flag. You should be careful with investing with projects like that. I believe you should invest in something that you have thoroughly researched and see that it has potential.

If you want to have a sure shot, just buy bitcoin.

Well said, OP. You've offered many good advice. Many beginners make the mistake of placing too much trust in influencers who follow their recommendations blindly and invest impulsively and ill-considered in new projects, shitcoins, and rug-pulls currencies, which could be dishonest schemes promoted by these influencers and YouTubers, and deceive these new investors by tempting them with massive profits that they can achieve in the near future or within days after following their recommendations and instructions. In the end, these investors end up losing their entire capital. Frankly, I do not find any excuse for investors, whether a beginner or an expert, for not doing sufficient research. It's not that difficult; it just requires some time to gather enough information about a project and verify it instead of someone making hasty and reckless investment decisions that ultimately lead to regret. Instead of new projects, many established and prominent currencies can be invested, and anyone can make good profits from them, and on top of these currencies is Bitcoin. Still, they need to be patient and get rid of their greed because whoever is looking to achieve 50X to 100X without any experience, research, or rational investment decisions and without managing his capital will likely achieve nothing but significant losses.

In the current state of the market, no investor should be at a loss if that investor is spot trading. In the case of futures trading, the matter is different because in the case of futures trading there are two types of processes, long and short. If someone takes shot trading in this market, he is sure to lose, otherwise if he takes long, he has made a lot of profit. Those who couldn't invest in this market even if they had the money will definitely regret it and they are regretting it but it's different for those who don't have the money to invest. It's been a long time since we've seen a market like this so we'll definitely regret missing out on such an opportunity. But the time is not over yet, investors can still invest if they want because there is a possibility of more positive changes in the market ahead.

Most people have refused to do things for themselves, instead of thinking or practicing what they know or the good knowledge that will give profit in a long term. they would rather to to YouTube to listen to some influencers who lacks good Bitcoin knowledge (crypto at large) but will advise on some shitcoins to invest in. and most will flood this bad advise, investing what they can't afford to lose and when they get disappointed they tend to act as if Bitcoin was the cause of their failure.

It good advise to stick with Bitcoin than gamble with what you don't know, even if it's likely to give you a profit that Bitcoin would give you in 10 years, within a year. its better to be guaranteed than wager around with some shitcoins.

Newbies have seen more believing and relying on crypto influencers for their decision making that’s why its not surprising anymore to see them hyping in the market, trying to turn out impossible things into reality like seeking for 100x-1000x profits in such crypto coins, but still end up losing all their funds because they rush into investing without prior research at first. Although I have no big issues with this type of newbies but if they won’t learn from their mistakes, they’ll possibly end up losing consistently because of greed and wrong information gathered.