Another example is how greed destroy crypto investors. - page 4.

South Park

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Quote from: poodle63 on June 01, 2022, 06:33:07 PM

yes i've seen that kind of people, and most of them are probably never gonna learn that greed could destroy their investment despite already having lost their investment for many times because they are so hellbent thinking they are the choosen ones that gonna make the most out of the market meanwhile really they aren't.
profiting through investment requires logical thinking instead of just pure speculating, holding for too long gonna be harmful for the investment since bullish run not gonna lasts forever anyone should definitely learn from that and greed usually only destroys our investment.

Together with greed the thought that somehow an investor is special and the market will simply bow to their desires is one of the main causes of people losing so much money in the markets, after all with tens of thousands of altcoins in the market to invest in a single coin and believe that we are going to pick the right one and it will skyrocket right after we bought is nonsensical, so even if it did happen it would mean nothing as we would have gotten lucky and nothing more, and sooner or later that luck will run out.

aioc

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Quote from: The Cryptovator on May 31, 2022, 12:08:48 AM

A few days back I bought a token from Launchpad. After they Launch on Pancakeswap I made 1.5X and sold. I was happy with that. But unfortunately, the token price grow double every day, then I bought again at the higher price. I thought this was a chance to multiply my portfolio again. Even though it grow 5x but O didn't sell that due to greedy behavior. Eventually, the project rug was pulled and skipped with all the funds. That means I lost everything even including my initial investment. This is how greed destroys us and scammer takes the advantage.

There are a lot of bad projects on launchpad I am also a victim of these tokens we all thought that projects coming from launchpad are great because of the criteria and the requirements these developers are following on launchpad, but make no mistake about it, you still need to do your own research and be very diligent don't rely on the launchpad or support coming from an exchange, rug pull projects are like this, they like to go where legit projects are going

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: BitcoinPanther on June 01, 2022, 01:41:53 PM

We should sell when we are at a profit. But not all who do not sell are greedy, I think they have trust in the developer and are very positive that the market will continuously uptrend. In your case, if you set your selling price and it has not been met, I do not think that it is greed when you end up bag holding worthless crypto because of a rug pull. It is an unexpected event, and probably already a plan of the developer, from that no one can do anything.

A developer may have the notion to pull the plug but they are essentially cheating the investors.

No investor wants this to happen, but talking from the perspective of an investor, one would like to reduce the risk by exiting the asset at a high price before the developers have a chance to rugpull.

This type of mindset will actually lead to a very unhealthy market but it is the case with majority of altcoins - since I dont like this personally, I avoid investing in altcoins nowadays. But for saving the invested money, one would always think to pull out before they pull out.

Greed is not the only thing here, people are hopeful and have goodwill for the project and scammers take advantage of that.

glendall

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very sad, but true what you say greed destroys our wealth, the same study with me. I've felt that way too. and from then on I just took 2x the profit from Launchpad after that I left it

poodle63

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yes i've seen that kind of people, and most of them are probably never gonna learn that greed could destroy their investment despite already having lost their investment for many times because they are so hellbent thinking they are the choosen ones that gonna make the most out of the market meanwhile really they aren't.
profiting through investment requires logical thinking instead of just pure speculating, holding for too long gonna be harmful for the investment since bullish run not gonna lasts forever anyone should definitely learn from that and greed usually only destroys our investment.

BitcoinPanther

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Quote from: The Cryptovator on May 31, 2022, 12:08:48 AM

A few days back I bought a token from Launchpad. After they Launch on Pancakeswap I made 1.5X and sold. I was happy with that. But unfortunately, the token price grow double every day, then I bought again at the higher price. I thought this was a chance to multiply my portfolio again. Even though it grow 5x but O didn't sell that due to greedy behavior. Eventually, the project rug was pulled and skipped with all the funds. That means I lost everything even including my initial investment. This is how greed destroys us and scammer takes the advantage.

We should sell when we are at a profit. But not all who do not sell are greedy, I think they have trust in the developer and are very positive that the market will continuously uptrend. In your case, if you set your selling price and it has not been met, I do not think that it is greed when you end up bag holding worthless crypto because of a rug pull. It is an unexpected event, and probably already a plan of the developer, from that no one can do anything.

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Quote from: Text on May 31, 2022, 07:24:34 AM

It's really sad what happened to you so we know how you feel now, especially those like you who have also experienced that, I think almost everyone here has been through that. But what's worse is that we don't learn because we can't be content. I admit that that has happened to me a few times but in a different way but the concept is almost the same. The one for me is in NFT gaming, which sent me to FOMO and hype. There is no one else to blame but ourselves unless we are directly deceived. We have nothing else to do but accept and always remember so that it does not happen again and again.

I agree, we all have that kind of situation in the end and there is nothing that could be done to stop this, we can only limit it. I know for a fact that we are going to end up with something that will be a bit more selfish, and hope that even though we know it is risky, we could take the profit during the increasing period, and leave before it's rug pulled and let the bomb explode in others hands.

I am not too upset that sometimes it explodes while we are holding it. We deserve it, and we lose money there, but then we learn from it and we get better at it as well, that is how we should approach these things and not any other way, it would be a lot better.

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Quote from: merekamo on May 31, 2022, 03:18:21 PM

usually investing in launchpad or presale is a good opportunity. sometimes new coins can give us an advantage when listed in the market. I've experienced the same thing, when the coin listed on the market increased by more than 80% and that's where we have to make a decision between selling or waiting. In my case, I immediately sold it when it was listed and bought it back when the price dropped. If possible.

Not really a good opportunity. That is good only if you hit the right project. But how many projects in a launchpad actually succeeded? How many presales of crypto project tokens have actually given a positive return? It is true that there are a handful of them that actually profited but those are more like exceptions rather than the rule. The rule is that investing in launchpad and presales are risky because many of them will fail.

merekamo

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usually investing in launchpad or presale is a good opportunity. sometimes new coins can give us an advantage when listed in the market. I've experienced the same thing, when the coin listed on the market increased by more than 80% and that's where we have to make a decision between selling or waiting. In my case, I immediately sold it when it was listed and bought it back when the price dropped. If possible.

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Quote from: The Cryptovator on May 31, 2022, 12:08:48 AM

A few days back I bought a token from Launchpad. After they Launch on Pancakeswap I made 1.5X and sold. I was happy with that. But unfortunately, the token price grow double every day, then I bought again at the higher price. I thought this was a chance to multiply my portfolio again. Even though it grow 5x but O didn't sell that due to greedy behavior. Eventually, the project rug was pulled and skipped with all the funds. That means I lost everything even including my initial investment. This is how greed destroys us and scammer takes the advantage.

Inevitable and understandable kind of situation. Though it may be called as greedy, but it is the profit that we are always looking for. Not just profit, but huge profit. A high risk high return kind of investment are like gambling. You'll never know whether you win some or lose everything. These rug pulls are kinda being normalized by crypto investors, we are all aware of it but because of its high rewards once you perfectly timed how you enter and exit a project, that's make a lot of people takes advantage of, just like how these scammers take advantage of the people who's chasing to get a huge short term profit.

Anonylz

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Yes bro, unfortunately sometimes you don't see it as greed, you thought you are being a smart investor. I have had a similar experience but in my case, it wasn't a rug pull but the price dumped so hard I sold for way less than I should have. Mine wasn't a direct investment but a bounty reward that did like x20 and above and I didn't sell until it dumped so hard. Lol, it was funny and foolish at the same time. I guess these are everyday crypto lessons.

TheUltraElite

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So anyway, I applied as a merit source :)

The person responsible for the greed is the trader and with time traders realize this and that they need to book the profit and sell to buyback at lower price. With bitcoin and altcoins, the selling chances are often less explored because people like to hold. While this seems good for the community, it is bad for the trader's portfolio.

Of course one should sell when in profit, depending on how much the coin has gained over time. Not doing so means missing an opportunity and the recycling of money refreshes the traders mindset which tends to become stagnant over time when holding.

Such examples are common though, not just in crypto but also in fiat markets.

Dread Pirate Roberts

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Quote from: The Cryptovator on May 31, 2022, 12:08:48 AM

A few days back I bought a token from Launchpad. After they Launch on Pancakeswap I made 1.5X and sold. I was happy with that. But unfortunately, the token price grow double every day, then I bought again at the higher price. I thought this was a chance to multiply my portfolio again. Even though it grow 5x but O didn't sell that due to greedy behavior. Eventually, the project rug was pulled and skipped with all the funds. That means I lost everything even including my initial investment. This is how greed destroys us and scammer takes the advantage.

always happens in crypto. like whatever we believe in the project, there will definitely be moments like this. what else in the newly launched coin. I've been having a big loss lately too. just make it a lesson. If ithink about it again what i do it's pretty stupid.

asriloni

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So what kind of launchpad it is? Im feeling curious about this. If this is launched through the garbage launch pad like pinksale and any token that was coming from this launch pad is not even worthy to be called as investment. It's only a short time multiplier tool. Im sorry for your lose but you have been learning a lot from that case. Participated in the launch pad didn't give guarantee for token to be used as long term investment.
I guess if that scam token was getting launched through garbage launch pad site. Can you tell me what's that?

Wexnident

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Nothing bad with it I think, just that greed on well, projects that you know would probably fall off in the long term isn't that good. Greed isn't necessarily bad, imagine if you pulled out when you made 5x more when you invested again, that's a result of your greed. You just made a mistake in judging on how long you should hodl it, and honestly, if it comes to altcoins, I'd almost always sell after making a profit, even if it was rather small, especially if it was a new project. Most of them are just full of hype and manipulated so whales could profit imo.

MMysterious

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It is easy to say that we are disciplined and not greedy but when it comes to reality it is hard. Especially when the market moves very fast and you are still undecided to follow the old plan or to gamble for a possible very big gains. It happened to me and possibly to most that trade and into investing. We humans are born greedy that is the reason many of us only learned the hard way. Sorry for your loss OP and better luck next time. Maybe you can tell us which new projects you plan to invest next.

Text

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It's really sad what happened to you so we know how you feel now, especially those like you who have also experienced that, I think almost everyone here has been through that. But what's worse is that we don't learn because we can't be content. I admit that that has happened to me a few times but in a different way but the concept is almost the same. The one for me is in NFT gaming, which sent me to FOMO and hype. There is no one else to blame but ourselves unless we are directly deceived. We have nothing else to do but accept and always remember so that it does not happen again and again.

Mpamaegbu

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There's never a clean sweep when it comes to taking profit in trading. There's always something left behind. I don't go back looking for that which is left behind. I move on once I've got my capital covered. No regrets. I behaved like OP in the past, trying to rebuy after I had sold and taken profit. Most times I went in all and got burnt, of course. My strategy this day is take profit, and if I feel strongly about the project after selling I rebuy from the profit. The recouped capital must not be tampered with when I'm buying back. That way, whatever ill that happens to the project won't affect me completely.

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Quote from: The Cryptovator on May 31, 2022, 12:08:48 AM

A few days back I bought a token from Launchpad. After they Launch on Pancakeswap I made 1.5X and sold. I was happy with that. But unfortunately, the token price grow double every day, then I bought again at the higher price.
(.....)

I believe that using Binance Smart Chain (BSC) or any of their launchpad even pancakeswap is a gamble.
Most of the projects that are already rugged pulled have existed in Binance Smart Chain (BSC), there is still a lot of them, and a lot of coming.
So yeah, taking profits early is always a good move here.

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Quote from: inanilujimi on May 31, 2022, 02:47:33 AM

This is what I'm afraid of if the tokens are not listed on a centralized exchange at the time of listing, they will simply walk out and scam investors.
I prefer to choose the lauchpad that is on the exchange, even though sometimes the profits are not as expected.

Listing on a centralized exchange does not guarantee that the price of the coin will not decrease after the pump and will be traded below the TGE price. As a rule, after such a dump on CEX, large investors buy coins before the subsequent dump.

Topic: Another example is how greed destroy crypto investors. - page 4. (Read 800 times)