Topic: Be Decisive with Your Coin - page 2. (Read 369 times)

I made some bad decisions with cryptocurrency. One of the worst was selling all of my Bitcoin in 2017 when the price was around $10,000. I thought the price was going to crash and I didn't want to lose money. But of course, the price kept going up and I missed out on a lot of potential gains.
I invested in a scam coin. I saw a coin that was making a lot of promises and I got caught up in the hype. I invested a lot of money into the coin, but it turned out to be a scam. I lost all of my money and I learned a valuable lesson about doing my research before investing.

One of the best decisions I've made was to do my research before investing in any cryptocurrency. I read up on the different projects, their teams, and their white papers. I also looked at the market capitalization and trading volume. This helped me to make informed decisions about which coins to invest in.
I diversify my portfolio. I didn't put all my eggs in one basket, so I wasn't as heavily affected when the price of one coin went down.
I hold on to my coins for the long term. I'm not interested in day trading or trying to make a quick buck. I believe that the cryptocurrency market is still in its early stages and that there is a lot of potential for growth.

Being patient is very important on bitcointalk and in learning bitcoin, I don't know why some people will just ve rushing after what is not chasing them, if you have enough patience, you will eat the fattest bone, rushing into doing things will only leads to making inevitable mistakes and that might have been too late to correct in some cases, this community is not also a place where OP may think as the fastest place of making money, what we do here is to make bitcoin discussions and other affairs in cryptocurrency, don't also let the fame with alts choke your eyes in eagerness to make fast money and loose everything to scam.

The main thing is most people who are investing in altcoins are not making any effort of their own and just inspired from others influence to invest like so called social media shillers.But they forgot they are paid to advertise and hype is temporary with fake volumes pumping and when you invest chances are more of losing.

But I also think that if you are new investor then have some knowledge of market and don't focus more on shitcoins because you can get equivalent amount towards bitcoin with more advantage if you have long term goals in mind but at last we have our choices.

At the time, when I was a beginner, one experienced user taught me, saying if something confuses you about a new coin, you are not mistaken; it is a scam. Since then, I have been confused by all the alternative coins. Watching the development of new coins, you can find many old examples of previously similar ideas that did not live up to their final. Therefore, the only coin that still commands respect is Bitcoin. Yes, I was wrong about the timing of buying and selling, but this experience is nurtured, and with the rest of the coins, my whole experience is full of disappointment.

Making a good decision in crypto trading is very important.  There was a time I made a very bad decision in crypto trading and I didn't have a good knowledge of how the crypto market worked. I invested my money in a project and when the token got listed in exchange I was in profit but greed made me not sell it and I ended up losing my money on that investment. You must always know how to manage your risk in crypto and knows how the crypto market works to make good decision in cryptocurrency

Yes, I fell for the pump and dump scheme at the beginning when I first introduced the trading platform. Have put in around $2k for new altcoins in 2018 with weak preference knowledge and it never crossed my mind that such a scheme exists. What I know, with a good chart I will double my capital faster.
It really traumatized me so much that I took a break from the crypto space for a few months.

I personally don't want to include quickness in making a decision so that you'll be considered decisive. If you want to make a resolute stand on something, you take time to do due diligence. You take time to research and look for answers to your questions, so that the moment you make a decision, it is firm and solid. You can't be haphazard in trying to understand and decide about Bitcoin and the bigger crypto market.

Most of my mistakes are decisions that are uninformed, quick ones. I used to be loyal to certain shitcoins, for example, because I didn't spend a good amount of time understanding them and their true potentials. I just jumped right into them primarily because of hype and hodled them. I was wrong.

The two things that I based my decision to buy and to dump what's on my portfolio are my criteria and control my impulsiveness, my criteria are,
is the coin has a use case and platform that will benefit the whole community,
who are the developers and are they capable of completing their roadmap,
and what kind of promotion they employ are they relying on the usefulness of their platform or more profit generation if I saw all of these in a project be a candidate to be in my portfolio.

Impulsiveness is something you should avoid, especially when a project, promotes itself as the next big thing and just rely on shills without a use case to back it up.
So far I'm good with my all criteria I experienced losses but my gain is good because as long as you DYOR you are good.

When it comes to cryptocurrency investment one really need to do his/her finding very well especially with Altcoin.

To be decisive is the ability to handle procrastination and make quick decisions. Investment decisions should be a product of knowledge about the business and not driven by greed or fear. After a good analysis of the market and you find out that investing in Bitcoin will be favorable, that's when it is important to make a hasty decision to avoid missing the opportunity.


I can remember when the price of Bitcoin was dropping last year. I was advised by some persons that I thought were knowledgeable about the Bitcoin market to sell off my coin because they predicted that the price will keep dropping and not recover. It was a decision I had to take within one day. The only place I got the right information was in this forum because the media was filled with FUD-triggering news. I kept reading posts here and I ended up not selling my Bitcoin. Today I am happy I took the right decision to keep my investment.

Making hasty decision into doing something most times always turn to regret and those actions can’t be undone again when the mistake has been done but can be corrected going further. With some hasty decision given you a guide in the next decision you make, some will forever make you lose an irreplaceable asset or valuable in your life. But as you’ve mentioned, it can be considered as the bedrock where success is built which is very correct.


There was a time the market was moving in an uptrend in a successive manner and then goes down a bit before taken the next movement upward. I wanted to make profit and was continuously buying when the price goes down a bit and then sell when the price moves up a bit thinking that I’ll make a lot of profit in the end. But at the end of the day, I was not able to retrieve my capital back. It was a lesson I learnt and since then I came to know about DCA method, which has been favourable and you don’t need to panic about your funds when you’re saving for long term.

The proper way to be gain confidence in making decisive decisions as it concerns your investment in cryptocurrency is to give yourself to learning first, when you build a good knowledge about cryptocurrency productive decision making wouldn't be a thing based on guess work and luck for you but would rather be based on your critical analysis and study of the market based on a what you know and addition to experience.

If my memory serves me right I can remember around november last year someone told me about a landed property that was put on sale asking if I might be interested to buy, of which I was due to the location. But at that period what was at hand with me was just half the total amount the land is put up to be sold.

Then I thought about withdrawing part of my BTC to make up for the total amount because the land was in a good location which I don't think I'll like to miss buying and the price was good too as the owner was selling in distress. While I was thinking of withdrawing some of my coins I had a second thought of taking a loan to fill in for the total amount for the land, considering that by the next 6months above from when I take the loan bitcoin should have rise in price from the $16k it was at that time.

To cut the whole story short, I took the decision of taking the loan to get the land instead of withdrawing my coins cause that wasn't my initial plans for it, then it wasn't long before bitcoin price rose above $29k by  May 2023 and I was able to earn some profits from it that I used to pay off nearly 95% of the loan amount I took.

Before taking such decision I had to weigh the odds after critical analysing the chart based on my level of knowledge and in addition to the bitcoin bull run in anticipation which gave me the confidence to go on with my decision for a loan. But that doesn't mean I didn't had a back up plan from my salary on a monthly percentage reduction for  servicing my loan just in case things go south. (Always have a backup plan).

Taking any action if done in a hurry usually always ends badly. Especially in the realm of crypto investment/trading, it is certain that the rush will destroy it. As you (OP) said, buying coins or crypto assets, but in terms of analysis or in terms of information that is still lacking or immature, that's for sure, it's likely that taking such actions will harm yourself. So the point is a feeling of haste, indeed it must be avoided, especially when it is related to money. And apart from the feeling of haste, the traits that you should avoid are greed, laziness, and inattentiveness. In the world of investment or crypto trading, this attitude must be avoided.
To be honest, as long as I have been involved in trading and investing in crypto, I am grateful that I always do the right thing. The exact meaning here, I have never experienced a big loss. Then for small losses, I don't consider it.
Then the action that I considered appropriate, I used to decide to invest directly in bitcoin. so from the start I didn't get confused about memecoins or altcoins, but I immediately put the money I had in bitcoin assets. And as a result, if I sell the bitcoin that I currently have, I already have a profit. But for now I'm not going to sell it first, because I'm waiting for the bull run market or the upcoming bitcoin halving.
The most certain and the most accurate. For these years buy bitcoins. Because in the next year bitcoin will experience a halving cycle and usually after that the price will increase dramatically. So this year is a golden opportunity to buy bitcoin, because the market price is arguably still not too expensive.

Be patient and very careful when making decisions. You shouldn't rush into investing because of greed of quick profit but learn about the risk management and come up with a strategy that you will use to overcome the risk. As for the possible decision to be taken, one should have the believe and confidence before talking the bold step so that you wouldn't be discouraged. Think positive and work towards it. Nothing is impossible when you are determined  to achieve it.

Its your coin so if you believe in them without doubt then support them with all your best. Well not all can be succesful with that and for sure some will definitely fud or bash it. But it doesnt mean you need to act negatively. Always turn those with positivity and definitely will let you feel that your decision on supporting that coin or token is thr right move. There is always a lose in a trade only making up to those loses.

I tend to agree with this.
Jumping in with huge investments without a solid understanding of the market dynamics and risk management might lead to significant losses and then learning the importance of patience and a long-term perspective is spot on.

Because IMO, being a beginner investor in the cryptocurrency market comes with a learning curve and there's no shortcut, it's important to gather knowledge and seek advice from experts to gain experience.

If it applies across every area of crypto investment, then I can say that the most important is deciding how long you want to hold your coin, the price at which you want to sell it, and the goal at which you want to archive with it after you have met your desired profit in the crypto investment. Secondly,  decisiveness on the coin or token one wants to invest in. There are some people who wish to invest, particularly in Bitcoin, but along the way, they get misled to invest in some altcoin projects, probably because of the promise of high APY from staking. Just last year, a guy wanted to invest in Bitcoin with about $3200 capital, but his friends convinced him to invest that amount with one defi project because of their 40% APY. But today, his investment is not even up to $67, even with all the compounded tokens from his APY. So, I just think investors should be decisive about the coin they want to invest in and also let every investor have a certain amount they wish to sell, so that if the market price falls, they wouldn't panic to sell, and if the price rise, they wouldn't be too quick to sell for just a little profit.

Because of greed, I was able to make hasty decisions that made me regretting in the end. That was the time when I never realized that bitcoin is only for patient people, aside from the fact that it’s a long term investment due to its highly volatile and unstable market condition. That time, I end up losing consistently until I realized I have to take a different perspective about bitcoin. Perhaps that was happening too because what I invest is never a small amount, but I jump on investing big that is obviously not an amount I can easily afford to lose. Now I’ve learned my lesson to take one step at a time, and to never expect too much from bitcoin especially if you are just a beginner investor in the market.

Before you can be decisive in cryptocurrency, you have to have a certain level of confidence in yourself from what you could be able to offer to yourself, many of us won't be decisive because we are too dependent in whatever we do, being decisive begins from how you're able to allign to learning, having new ideas and being innovative, if we know nothing, am sorry we cannot make any decisions on our own talkless of it standing.


If you can dream it then you can achieve it, learning is the begining of it all, which is the first step of what should be seek after, when you get it then you're independent and can be decisive.

Be Decisive with Your Coin

Hello,

When you can make appropriate and credible decision quick that yielded proper result you are considered to be decisive. Making or taking a good decision in cryptocurrency cannot really be oversize. It can be considered to be the bedrock on which success can be built. I could remember when I made hasty and uninformed decisions with my coin and the effect it really has on me it was not a pleasurable one.

Has there been anytime you made a proper decision with your cryptocurrency or improper decision, what was the decision you took and was it successful? Do well to share your experience with us and possibly lesson we can learn From it as the saying goes ''experience is the best teacher" Although "Knowledge can be the principal in the school of experience".

In addition, If there are possible decision you know one can take that would be of benefit feel free to share.