Be Excited about the rise, be wary about the scams, and loss - page 3.

sheenshane

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Quote from: wxa7115 on December 22, 2020, 04:47:20 PM

Unfortunately scammers are a big problem everywhere and not only in this market, ...

I tend to agree, and even when the internet isn't yet here, scammers are all around the place. You have to expect that there are some who only know how to take advantage of people. That’s a fact.

There will never be a rising road if there is no shallow. You have to make sure that you’re ready because, on every continuous road, it’s always ups and downs, so you just need to be careful.

Quick advice,

Don't let yourself get caught by FOMO. That’s a trap.

wxa7115

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Bitcoin is GOD

Quote from: avikz on December 17, 2020, 05:45:11 AM

Scammers are a big problem since a long time now! Initially the internet scammers were playing big on hyip/ponzi scams but after the closedown of TalkGold and MMG forum, they had moved to crypto market because it grants them even more anonymity than traditional payment processors like PerfectMoney or Alertpay!

I heard from my local news that police arrested a person who were scamming people in the name of bitcoin. He was promising double return within 25 days to the investors. Now those who are aware of bitcoin, they would know it is impossible to get a confirmed return from bitcoin and they understand the risk. But still people have fallen for it.

Scammers will always find new ways to scam people. Education and awareness can save from a disaster!

Unfortunately scammers are a big problem everywhere and not only in this market, just look at your TV and put attention to the ads and actually watch them, do you really think that the products and services announced there can even do half of what they promise? The answer is obviously no, but people are so used to this kind of advertising that when they see it in a financial offer instead of seeing a huge red flag they see the opportunity of their life.

And it is that kind of thinking that produces serious losses to people like that, this is why I have always thought that the first thing that people that are interested in investing should do is to inform themselves to find out the most common ways scammers use to try to get money out of their victims, that way they will be able to protect themselves when the time comes.

Oasisman

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Quote from: Pokapoka124 on December 22, 2020, 01:57:06 PM

With the pump in btc comes the FOMO, some crypto skeptics are changing their minds about bitcoin and buying btc at a high price instead of waiting for a dump. The psychology surrounding bitcoin is an interesting one, people like to buy coins when the price is $10k as opposed to when it is just a dollar

Well, that's kinda usual. FOMO has been goin on around everytime Btc tends to make a huge run or even a small one. But right now seems different as Btc hits a new all time high and break through the past ATH record like it's nothing. Anyway, If Btc reaches the 6 digit figure like everyone is excited about, you won't say $23k is a high price as your entry point, just like the people who bought Btc at $1,000 in 2016.

Pokapoka124

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With the pump in btc comes the FOMO, some crypto skeptics are changing their minds about bitcoin and buying btc at a high price instead of waiting for a dump. The psychology surrounding bitcoin is an interesting one, people like to buy coins when the price is $10k as opposed to when it is just a dollar

CryptopreneurBrainboss

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Quote from: Jating on December 22, 2020, 01:03:38 PM

I guess everyone here went into this kind of experience when starting their crypto journey. We all fall as victims to this scammers. During my day, it was those bitcoin doubler, now scammers have evolved and became more sophisticated with their attacks.

The common practice now are the outrageous number of scammy projects getting launched daily. I thought we were done with the meme and food tokens but it seems they're beginning to become a norm. In times like this the best you can do for yourself is to avoid investing in any project you find on the exchange just because they're making wave.

During bullruns any project can give impressive ROI although that doesn't mean they're good for investing and if you do find yourself investing in them. Don't consider them as long term investment or you'll regret making such decision. Just ride the wave like everyone else.

Jating

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I guess everyone here went into this kind of experience when starting their crypto journey. We all fall as victims to this scammers. During my day, it was those bitcoin doubler, now scammers have evolved and became more sophisticated with their attacks.

So for newbies, yeah, you could be the next victim, or you could avoid to be the next statistics if you keep yourself up to date with the latest news and educate yourself. Don't be greedy and think that this market is a get rich quick, it's not. You need to be very careful and learn how everything works here, including scammers MO.

Husires

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Beginners bear the bulk of the loss because they join when the market is green or the wave has risen, and they buy at the top and begin to panic when the price falls, and whoever controls himself sells at a lower price or when a price correction occurs.

Determining short positions and resistance levels will reduce the loss and increase the likelihood of obtaining more liquidity for continued speculation.

scamming is a big problem but lazy scammers dont pay any attention for making new projects.

Sterbens

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Quote from: BIT-BENDER on December 17, 2020, 05:06:27 AM

Am not saying you -Newbie- did the error to join now the price is above 20k and above the all time high, there is no bad time. But as you are excited about the price, being into crypto-coin be wary and sensitive too.

+ scams: this is there time -the scammers- be sensitive about what crypto-coin you buy, where you buy them, and how you buy them.

I agree and your advice is not just for beginners. but we also have to stay focused. It is true that it is not enough just to have a new passion for buying crypto due to hearing about the current bitcoin price trend. because this can trap someone who doesn't know when to start.

As for scammers, they will not be separated from the crypto world, but the most important thing is that we as active users who want to invest, stay on a rational path and trade in a rational way. not only because of the lure of big profits, it will eventually fall into the wrong abyss.

suzanne5223

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Quote from: BIT-BENDER on December 17, 2020, 05:06:27 AM

Am not saying you -Newbie- did the error to join now the price is above 20k and above the all time high, there is no bad time. But as you are excited about the price, being into crypto-coin be wary and sensitive too.

Newbie joining the market at the all time high price is not an error cause every time is good to invest in the market but newbies are always advised not to join during ATH price because the market correction can happen at any moment and unexperienced newbies may not have the knowledge to stop loss.

Quote from: BIT-BENDER on December 17, 2020, 05:06:27 AM

+ scams: this is there time -the scammers- be sensitive about what crypto-coin you buy, where you buy them, and how you buy them.
+ the price may flip-off the exciting rising road, don't want this but except it.
+ work easy: be patient, learning and smart.

What you listed is part of the main reason newbies are advised not to invest when it ATH season and I saw a thread opened by a newbie early where he explained how he was tricked to invest in OEN which is a completely inactive coin.

Crptomagma

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Even as bitcoin enthusiasts we are not ignorant of the devices of scammers in the net. Now bitcoin is $20k we should expect more attempts and penetration from scammers with lots of fake Crypto investment sites. As Newbie it’s important you don’t be greedy because these is the time scammers go through different platforms and portray as bitcoin broker with high rate if you invest with them. You can only be scammed through these means only if you’re greedy.

Bitcoin is decentralized so you should keep your login details and recovery phrase in secure environment.

AicecreaME

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Quote from: nicecrypto on December 17, 2020, 10:21:48 AM

Fomo will come in to play, this is time to text people's ability to make right decision, to be very observant and vigilant, because now chillers and scammers are in the loss looking for naive newbies to deceive and take their money,
it is important not to get carried away and jump into anything just to make huge profit that may never come.

FOMO will be always a double-edge sword, sometimes it could bring you profits, sometimes it don't. What I mean is riding the hype sometimes makes you enter in a wrong door, leading to a cliff that'll make your capital fall, even without scammers.

But of course scammers will never be outdated about what's happening in cryptocurrency world. They are waiting always for an uptrend topic and then will create something similar to it and spread it out to social medias using phising links. So, if you're too excited and not thinking about possibilities to be scammed, you can say goodbye to your funds.

ChiBitCTy

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I am glad you decided to take the time to write all this up. I am not new to bitcoin but when I was it was very exciting but also very confusing. I can't imagine coming in to bitcoin at a time like right now. When I first got in to bitcoin is was worth $150 a coin..so these are indeed very different times. As a financial advisor the crypto have always been very obvious to me but I have also spent many years of my life learning about this kind of stuff. For those that haven't, you couldn't be more dead on to warn them of what lurks out there. Well done.

taufik123

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Quote from: mk4 on December 22, 2020, 09:19:03 AM

Quote from: onooks on December 17, 2020, 10:59:50 PM

the scams are everywhere its like walking on a minefield

It will only seem to be like a minefield if you go in blind. But if you enter the field with you knowing about the scams and with you not being easily deceived by their tricks, then it's like going in the minefield with God Mode on.

Good term "God Mode activated"
A minefield that explodes at any time when you step on it is very dangerous. Many methods are used by scammers. But when we walk around with our eyes open and realize that there are many pitfalls, we will continue to be careful.
I even every day receive a lot of SPAM emails and private messages on telegram to make investments, mode need withdrawal assistance and many more.

As said by the OP. Work with ease, Patience, Learn and Smart. it will be save.

mk4

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Quote from: onooks on December 17, 2020, 10:59:50 PM

the scams are everywhere its like walking on a minefield

It will only seem to be like a minefield if you go in blind. But if you enter the field with you knowing about the scams and with you not being easily deceived by their tricks, then it's like going in the minefield with God Mode on.

Fundamentals Of

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Just be wary about the scams. They are always around regardless of the price of Bitcoin. They're perhaps rising in number when the price is in a very strong rally because people are becoming very interested in it that scammers are taking notice of their urgent or rash behavior. They will take advantage of a single erroneous slip especially made by a newbie.

In terms of loss, there is really no loss if people will not sell with a loss. It's really up to them to have a loss or a profit.

bearexin

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That’s correct, a lot of things are happening and people needs to be very careful, especially newbies that wants to jump in because they are seeing the price has broken through the $20,000 price rate all of a sudden, they have really get to be careful or else they will lose.

Earlier this year I used to tell people that the price was going to get to $30,000 before it drops, but this time around I am kind of having a change of mind because I think a lot of people have been waiting for this $20,000 price range and they might all start selling now that it has gotten to this price which might affect it and cause it go down again.

Lorence.xD

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Quote from: onooks on December 17, 2020, 10:59:50 PM

the scams are everywhere its like walking on a minefield

If you know where the mines are, then you are clear to walk everywhere, sad thing about it is that most mines on the minefield are getting trickier figuratively. The only way that these scams would not be prosperous is that we as an individual be vigilant about what is happening around our circle when we are on the Internet, most scams do not target smart people but we can still be of help towards others by warning them about this scams popping up.

The only time that scammers will win is the time that we become indifferent towards their damage, so always be vigilant.

onooks

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the scams are everywhere its like walking on a minefield

RokokGudangGaram

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Yeah the right timing to ride the market is the best thing that we should do and we should ride the hype the of bitcoin price as much as possible so we can lessen the big losses in case the market will flip anytime.

Being patient and smart is very helpful in order to avoid any losses or being scams by the scammers and also the most important to avoid in order to fully counter those scammers is you should not be greedy. Learn to accept a little profit as the time will pass by and once you can build a solid experience already, the profit will just expand by it's own.

nicecrypto

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Fomo will come in to play, this is time to text people's ability to make right decision, to be very observant and vigilant, because now chillers and scammers are in the loss looking for naive newbies to deceive and take their money,
it is important not to get carried away and jump into anything just to make huge profit that may never come.

Topic: Be Excited about the rise, be wary about the scams, and loss - page 3. (Read 749 times)