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Topic: Bad advices regarding Bitcoin (Read 426 times)

full member
Activity: 2268
Merit: 121
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May 06, 2021, 02:55:03 AM
#52
sometimes, the person who breaks our dreams is the closest person.  I have experienced that when I first joined the cryptocurrency world.  even the scorn did not come from other people, but from those around me.  since then I decided to "work" in cryptocurrency in silence, I just want to show that the negative talk of people who don't support me is just an unwarranted fear.  and now, after they saw what I got, they turned to ask for instruction.  this is the win Smiley
Of course what you say is something that often happens and becomes a bad experience, but like you who stick to what you believe in, being able to make a difference is something that is not easy to do. but finally something will also prove whether what we do and succeed, will make enlightenment and open their eyes, that what we believe about crypto is very proven to produce something very useful. Of course this is a motivation that must be reported so that many understand what crypto means.
member
Activity: 686
Merit: 21
May 06, 2021, 06:43:30 AM
#51
What is the worst piece of advice you've received since you first began dealing with crypto? Mine was to take pictures of my wallet seeds with my phone so I don’t lose them.

Mine was forgetting the password to my first blockchain wallet but I still have the email,and it really pains me to date that I can't access it, I had little things left in there
full member
Activity: 770
Merit: 113
May 04, 2021, 03:57:55 PM
#50
Maybe the worst piece of advice that someone I do know and someone I do not is to stop patronizing or supporting Bitcoin for they are seeing me as wasting my time and I am just pathetically having my sweet time dreaming that something like that will boom any soon around. But look at them right now, chasing the phase of Bitcoin to buy and see if they can make it through themselves to attain and reach the peak I have because I still believe on Bitcoin despite of their discouragement.
sometimes, the person who breaks our dreams is the closest person.  I have experienced that when I first joined the cryptocurrency world.  even the scorn did not come from other people, but from those around me.  since then I decided to "work" in cryptocurrency in silence, I just want to show that the negative talk of people who don't support me is just an unwarranted fear.  and now, after they saw what I got, they turned to ask for instruction.  this is the win Smiley
member
Activity: 518
Merit: 45
May 04, 2021, 02:17:20 PM
#49
Mine is thinking that bitcoin will do 10× profits between 24 hours, and storing my wallet keys on my email address,

I guess we all have funny mistakes in our dealings with bitcoin and the entire digital currencies.
sr. member
Activity: 1610
Merit: 264
May 04, 2021, 02:11:04 PM
#48
Didn't really did the actual mistake, but I was almost phished in my online wallet because someone shared my photo claiming that I won a prize and I just needed to login.
I reported the phishing site after that.
I guess I could call it that my mistake was trusting too much in online wallets.
legendary
Activity: 2576
Merit: 1252
Leading Crypto Sports Betting & Casino Platform
May 02, 2021, 06:40:50 PM
#47
Maybe the worst piece of advice that someone I do know and someone I do not is to stop patronizing or supporting Bitcoin for they are seeing me as wasting my time and I am just pathetically having my sweet time dreaming that something like that will boom any soon around. But look at them right now, chasing the phase of Bitcoin to buy and see if they can make it through themselves to attain and reach the peak I have because I still believe on Bitcoin despite of their discouragement.
legendary
Activity: 2072
Merit: 4265
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May 02, 2021, 03:13:44 AM
#46
In 2013, I worked on the Internet with a team, and our employer offered payment in bitcoins, to which the whole team reacted extremely negatively. Bitcoin then was completely unfamiliar to me, and I listened to the advice of more experienced, in my opinion, people, not to trust Bitcoin. And how we regret it today. Had I agreed to pay in bitcoin then, now my life could have taken a completely different path.
legendary
Activity: 3178
Merit: 1054
May 02, 2021, 12:46:55 AM
#45
we've done terrible mistakes while we are new to this industry. I've been using blockchain.info wallet when i first started. worse is that i forgot the password of the email, i can't recover it and then also forgot the password of blockhain wallet. a small amount is left there that is now worth $200. it's going to be funny if all we practiced today that seems to be right could turn out to be wrong after all in the future like installing wallets on phone.
hero member
Activity: 2506
Merit: 645
Eloncoin.org - Mars, here we come!
May 02, 2021, 12:22:20 AM
#44
What is the worst piece of advice you've received since you first began dealing with crypto? Mine was to take pictures of my wallet seeds with my phone so I don’t lose them.

In the last bull run, i got advises to hold the altcoins for long term duration. I held few altcoins throughout the bear market and they always dump and never reach their all time high again. So i learnt my lesson is not to hold low volume altcoins for long term. Only hold Bitcoin and ethereum for long term duration.

it's because the altcoins you hold don't have good fundamentals, if you trade on binance, even if they have low volume, they will go up in times of trend, such as events, airdrop burn etc. It greatly affects the price, I'm sure many people save altcoins with their fundamental predictions.

Even the coins with good fundamentals were down to earth. In 2017, the ethereum price reached 1000$ but in next three years it went down to around 250$. So even holding ethereum in the year 2018 - 2020 was painful if you have bought it in 2017 price. Many people would have sold in loss as not everyone can hold the coins with losses.
sr. member
Activity: 2352
Merit: 256
Vave.com - Crypto Casino
May 01, 2021, 11:51:50 PM
#43
What is the worst piece of advice you've received since you first began dealing with crypto? Mine was to take pictures of my wallet seeds with my phone so I don’t lose them.
Starting mining ponzi sites is my first start bitcoin, Working to find reffral turns out they are scams, to get into ponzi that can multiply funds in just a short time, it's very dangerous for the long term. Try to play with medium risk.
sr. member
Activity: 2016
Merit: 283
May 01, 2021, 11:51:26 PM
#42
What is the worst piece of advice you've received since you first began dealing with crypto? Mine was to take pictures of my wallet seeds with my phone so I don’t lose them.
the worst advice that i have when i was noob is to trade  my money through bitcoin,  just imagine without any information how this thing realy works.? Wherien they just say put you money in it then leave it after day or two then you will receive 2x profits,  but unfortunately it's negative until my money disappeared like a bubble..  Lol it sounds funny for me now..  I can't imagine what the heck comes to my mind why i trusted them the fact that I'm lack of information as well. Lmao
hero member
Activity: 2506
Merit: 645
Eloncoin.org - Mars, here we come!
May 01, 2021, 11:34:03 PM
#41
What is the worst piece of advice you've received since you first began dealing with crypto? Mine was to take pictures of my wallet seeds with my phone so I don’t lose them.

In the last bull run, i got advises to hold the altcoins for long term duration. I held few altcoins throughout the bear market and they always dump and never reach their all time high again. So i learnt my lesson is not to hold low volume altcoins for long term. Only hold Bitcoin and ethereum for long term duration.
member
Activity: 952
Merit: 27
May 01, 2021, 11:04:47 PM
#40
What is the worst piece of advice you've received since you first began dealing with crypto? Mine was to take pictures of my wallet seeds with my phone so I don’t lose them.

Using an online wallet to store my Bitcoin my friend advice me to use an online wallet because he too is not aware of the existence of desktop and ledger wallet, once I found out about ledger and desktop wallets are more secured I bought a new ledger and download desktop wallet and transfer all my coins, before investing be sure you are educated on where you are going to store your coins.
sr. member
Activity: 1820
Merit: 436
May 01, 2021, 06:30:10 PM
#39
What is the worst piece of advice you've received since you first began dealing with crypto? Mine was to take pictures of my wallet seeds with my phone so I don’t lose them.

I mean taking a picture of the wallet seeds is not actually bad as long as you store it offline that could probably be a good thing instead of writing the wallet seed on a piece of paper.

Most of the member here are lucky because they are getting advice from different people here in the forum, in the past years getting information was really difficult you need to have the resources and everything but now is different and it just an information overload to the point where you do not know what to follow.

When I just getting started I need to do it on my own and learn everything about this cryptocurrency, that includes making a lot of mistakes or losing a lot of money.
legendary
Activity: 1456
Merit: 1108
Top-tier crypto casino and sportsbook
May 01, 2021, 05:44:06 PM
#38
In all my years of being involved in holding and trading bitcoin, the worst advice i have gotten at one time was to exchange all my bitcoins for altcoins, not some, all. Good thing is I was already knowledgeable enough to know that that was not a good advice and the advice was coming from my advicers point of view.
hero member
Activity: 2184
Merit: 531
May 01, 2021, 05:07:15 PM
#37
The worst advice I hear people give newcomers all the time is: don't put all eggs in one basket. Don't hold only bitcoin, buy top 10 market cap altcoins because they're cheaper then bitcoin and you'll make more money.

It shows that people don't understand that the altcoin market depends on bitcoin and altcoins are more volatile than bitcoin in both ways. You can make money quicker but you can also lose them quicker. For newcomers who don't own any cryptocurrencies it's always better to buy bitcoin.

The second worst is: trade because trading is the best way to get more coins.
Trading isn't for everyone and if you haven't done that in the past you'll make mistakes and lose money. This advice is usually given by people who made money in the bull market and think trading is easy or by traders who want newbies to fail and lose money. For someone to win on the market someone else has to lose.
full member
Activity: 1330
Merit: 147
May 01, 2021, 05:03:07 PM
#36
I haven't met to take a bad advice from someone else since I just newbie to crypto currency. Because, before I spent money to buy bitcoin I just find a lot of knowledge first about bitcoin especially in this forum through beginner and help section. Yeah, the beginner and help section is so helpfull for newbie, there are so many information or some guard to know the ins and out about bitcoin.

But, maybe there a worst thing that happened to me when I started to trade crypto currency. Yeah, I take a lot of advice from other people and make it as my own strategy without I know I took the decision. Almost $1000 I lost my money because I made other people decision. That is the worst thing that I did then I realized and learn hard about trading strategy and until now I still learning it.
hero member
Activity: 2142
Merit: 670
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May 01, 2021, 04:58:11 PM
#35
What is the worst piece of advice you've received since you first began dealing with crypto? Mine was to take pictures of my wallet seeds with my phone so I don’t lose them.
Who did this to you? Really funny because the platforms themselves will never allow or suggest we take pictures or screenshots of the seeds.
And when if you did this, he will ask borrowing your phone in order to take the seeds  Grin Grin
Glad that you didn't follow it.

Mine was probably about invited to make an investment in a certain hyped coin at that time, saying that I would be rich soon  Grin Grin
Gladly at that time, I didn't have any money.
legendary
Activity: 1526
Merit: 1359
May 01, 2021, 04:53:54 PM
#34
What is the worst piece of advice you've received since you first began dealing with crypto?

The worst piece of crypto advice I got was: DO NOT BUY Bitcoin.

You see, I was told not to buy Bitcoin for several reasons:
Bitcoin will eventually disappear. It has been inflated too much. It is too hard to buy Bitcoin with cash. There will be another Bitcoin bubble coming in the future. You will lose money and probably lose it badly.

This was the first piece of advice I was ever given that helped me lose money. Cheesy
full member
Activity: 644
Merit: 101
Ecowatt.io
May 01, 2021, 04:42:22 PM
#33
Hello everybody. No matter how funny it is, the worst and stupid advice was not to get involved with cryptocurrency and withdraw all the money as soon as possible. Here, I think, there is nothing to even discuss. The rest of the advice, over time, I began to consider through my own experience. If you understand, then in general it is not worth resorting to other people's advice at all. Live your own head, earn your own experience, and learn from your own mistakes.
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