Topic: Crypto: a place where everyone makes money, but few secure it - page 5. (Read 731 times)

I personally know of a number of people who have gone through this in their crypto journey. I guess many can share how those ICO days, for example, were very generous to us. Some friends made a lot of money. Now, most of them are wage-earners. They've spent too much on things that are probably weren't worth it. Some didn't start even a small business. The same goes during the height of Axie Infinity and other play-to-earn blockchain games. Many of those who earned really well are now drained of savings.

This story also applies to those who accumulated so much Bitcoin early on but ended up selling most of them while the price was low and ended up only with Sats today. Our local moderator, for example, came early, got a number of coins early, but today cannot even pay a debt.

The trader should need enough knowledge in the investment,because if they inverse without any good knowledge may leads to the loss of the money.As we know earning money is not the easier one,but multiple the same was most important one here.If you had loss the money in some way,you should take the lesson and do the right thing next time,if you keep repeat the same.It’s not possible to save the money,mostly leads to the loss in the trading.Once the trader occur the loss,he need to risk many times to make the loss money.But the hardest part is the risk again may leads to the loss.


The failures always teach us the lesson,but we forget to remember on the next try.So this leads to the next failure,the continuous failure will leads to a repeat loss for the trader.So he should do the background work of the failure things,it help them to save the loss in the next trading itself.

Easy come, easy go! When we make money in some easy way, we usually spend it quickly and for fun... But there is one more situation when we make some nice money and want to make more, but we lose everything we have instead of making more. Both cases are gambling/trading related I think, and most of us old-timers were in both situations numerous times (some more some less), but it's life. We can say it's the lack of financial knowledge or life experience in general, we can say that we just "had the feeling", but whatever that was it's how we learn and we shouldn't regret it, life goes on and we need to move on.

Most people go through familiar stages of life, but it can come at different times for different people. Some will learn their important financial lessons early on, maybe even by the time they are 21, which can set them up on a great trajectory for earning later on. Others might only figure out some basic things when they pass 50 years old, and yet others still will never learn about how powerful financial instruments work. Take mortgages for example, in a world where prices seem to be constantly and incessantly pushing up, few people in their twenties might be able to avoid a house and never even start scratching the surface of what a mortgage is and how it works until they really need it - but as Warren Buffet said, it's the only form of debt that is worth it.

Actually im really that into this kind of situation on which on the time that i have started on dealing with crypto or simply into those newbie days on which i have been that able to earn thousands of dollars, maybe $100k
or almost to bounties because the coin that i had been able to recieved did make some pumps and on the time that value had risen up then i had missed out on taking up the conversion to money or usdt or bitcoin because
i did make myself that greedy believing that it could be reaching up into those numbers on which it would really be that having those thoughts that it could go more until everything goes down
and did really give out that kind of regret for the rest of my life.

Sometimes you would really be needing to experience up those things first before you would eventually learn but you could really always remember into those bad decisions that you had made on.
Its something that you cant really be able to avoid up specially when you are noob and having those impulsive emotions on which you would really be having those normal
thoughts that making money here on crypto is easy.

Some people do end up losing everything they have accumulated due to greed, they will never be satisfied with the little they have till they lose it all, they don’t have any knowledge about financial management. Some will claim they are taking risk, and if they don’t take risk, then they won’t be making it, i know it’s good to take risk, but when talking risk, you should be smart, don’t take risk which will be beyond your power, don’t take risk which might end up affecting your health challenges if things don’t go well for you.

Some people end up investing in shit coins claiming they are taking risk, just because they are expecting high reward within a short period of time, which at the end some of them might lose everything they invested.

All of us here don't know exactly why they can't secure their crypto, because everything happens due to many factors that we don't know about.
Because there are also those who cannot secure it for important purposes, so they make it an option, and there are also those who use it for their daily needs. Because everyone's circumstances are different, they actually want to secure it, but because of different circumstances they can't secure it, not because they can't manage their money well.
This is different from those who get big profits suddenly, then experience losses because they made the wrong decision and this is negligence because they did not do detailed research. And also not carrying out analysis and strategies that make him lose everything, but these problems can be corrected and used as learning to become valuable experience so that it doesn't happen again. And I think everyone experiences this problem, it's just that the numbers are different, so what the OP said can happen but not only in the crypto world but in other worlds too. But the most important thing is to use all of this as a valuable lesson and experience, by increasing your knowledge and also managing your money better and being able to look after it.

Well, if there aren't failures with experience and good writing skills to narrate their ordeal having invested in cryptocurrency, it paid off big time, but they somehow lost it all, we would not be where we are today as individual investors looking for the best possible approach to invest in and become more than a millionaire with crypto investments.

I see investors who jump into crypto investment as risk takers but now with the way people speak about different coins and their loss baffles me, why not choose the coin that has potential and will serve for long term investment like bitcoin, sincerely speaking any investor that wants to invest for long term should go for bitcoin and also for stress free.
It clearly stated that before investing in any coin make your research but in my opinion people with this research can also not make profit in their investment mostly if the investor doesn't invest wisely. After earning money and spending the money without plans sounds funny and if you can observe you will find people in this category never invested for long term cause I see no investor who waited patiently and afterwards you just choose to spend carelessly.

This is why Warren Buffet has no respect for crypto investors, they don't earn their wealth by making smart decisions, they just happen to invest in the correct coin at the correct time and sell it. Guessing which coin will pump next is really close to gambling, because it doesn't depend on any objective factors like network stats, adoption, project development - instead it's just hype and bubble.

No wonder that a lot of people who got rich from crypto have no idea about basic finance management and are poised to lose big if hey won't learn.

Every investment comes with ups and downs and it will take ages for the people to understand the nukes and corners in the art of being a successful investor. People who are into crypto are first generation investor, they come and bags profit then they think that it is easy money and take a deep dive with huge risk like going back with reinvesting all the profit along with the capital or even take loan and assuming they are going to surely bag big money will get rekt.

We have all learned from the market through our actions. Some of us used it positively and invested with healthier steps, while others lost their capital while choosing to get rich the easy way. For me, steady growth is one of the most sensible investment strategies.

Bitcoin has always been a safe haven. We need to be more careful when choosing altcoins. People who invest in altcoins also have their own plans. In fact, there are many different options in the market and many people are trying to achieve their goals as a result of these choices. It may not be right to say that one option is better than others. It is important to act in a planned manner and not to forget the risks of the market.

Like as I always said cryptocurrency investment is an investment for the smart people, you people feels too reluctant about their investment especially in altcoin investment because they felt is there investment or possibly they thought they knew all things about the project they invested on and hence they can hold till whenever they feels like taking profits before they could do. But in other ways, those who knows how the system is being maneuver never wait for their profits to give them 100 percent of what they invested or alternatively I could sense some forms of greed during holding some of coin because they had positioned their mindset of how bitcoin grows from zero to hero hence thinking all other coin would obey same principle giving an unending profits while they keeps holding for long term as they thought. My suggestion, any coin that is not bitcoin do not hold for long because the more you hold the more you lose.

It happens because this is a volatile environment, which connects the whole world together. At same time there are many earnings opportunities involved, there are also many risks like scammers, security flaws, manipulation, speculation, besides a wide variety of coins and tokens to invest, what can make very difficult the decision of choosing for which of them to go. Also, the greed factor plays a big role, since investors seem to never be satisfied with the profit they have already made, so they keep risking for more. Inevitably at some point they end losing everything, especially when investing in uncertain altcoins which promise high unrealistic returns.

Even the experienced investors struggle in this market, because there isn't a certain recipe to follow in order to achieve considerable profits. We are constantly risking ourselves in a daily basis here. It's a wild land, like a gold rush, where there can be treasures in the end, but there can be also death and pain. We never know what is our fate until we reach the end of the line.

To raise our success chances, we have to stick to Bitcoin investment, holding our coins in safe hardware wallets and hoping prices to skyrocket on long term. Again, it's not the assurance of success, but it's a strategy to maximize our chances, even though outstanding profitability is unlikely to happen again futurely through Bitcoin. That is, it doesn't look feasible for BTC to return us something like x100 or x1000 anymore. On the other hand, altcoins are, if you pick the right ones at the beginning, before they get hyped. What should be understood is that slight chances of high profits come followed by huge risks...

I went through a similar phase when I first got into Bitcoin.
During the first few months or years, my focus was on altcoins, particularly how to get the right project early and hold on to it as the hype grows. This was moderately profitable for the short term, but offered no viable investment option long-term.

I eventually after lots of lessons learnt focused more on investing in Bitcoin and moving away from highly volatile altcoins, which meant slow and steady growth with no "sudden" riches.

Some learn through the experience of others, some experience it and learn from that.

I think I was from the first group because at the start I also made loss and after making loss due to my lesser knowledge I left it and gave myself some time to learn more about cryptocurrency and now I am still learning, losing, and also making a profit. One thing so far I have learned the hard way is, never trust anyone, even if you are following a world-class trader or analyst never trust them just follow your instincts at the end.

Following your own guts is way better than following those whom you don't know much about. But if in case you know more about the person you are following then most of the time your guts will force you to follow that person.

I hope I would be one of those who have earnt a lot in there early phase and then lost because I might not have lost that amount if I would be given chance, as my first try will be to book some profit and then play risk with the remaining one.

This is not exclusive to crypto as this happens everywhere when the people who gained the wealth but lacks the way to preserve it or have no knowledge of financial planning. We have often seen those who becomes millionaire through the reality show if you check on them couple of years later they would have lost everything and this was once said by Bill Gates where he defined wealth is not defined as well filled bank account rather ability to create wealth from wealth.

I have also read alot of this kind of story from real world and also see people's businesses crashing. Sometimes they say someone is living on past glory because of the influence he had during when he was wealthy.

So at every point, financial management is important to how we can sustain what is in our possession whether gambling, trading or proceed from investment and real world business.

Talking about gambling, when you can't control your emotions you are likely to jump in on a higher stake when you lose or win a bet because of the adrenaline rush at that time and this is why it is only few that are able to sustain it and that few are the most experienced of gamblers who have been able to work on their emotions and mastered their winning strategy and also following it .

Yes, this kind of thing happens, and it mostly occurs when someone gains access to a large amount of money that they did not plan for, and such money sets confusion in the minds of many. Only a few take the time to picture the future before they make decisions on how to spend that money, so many use it as if it will continue to come that way.
 
This is why in everything that I do with or without having the money at hand, it's always important for men to set out a life plan that they can be working towards, and if you are then opportune to make that your dream money, things will be a little easier to follow up on than to start from scratch.
 
Money lost is never gotten back; the ones you make after the one you have wasted are not a replacement but rather an amount that could have contributed to one's financial growth, but many people always feel like there is enough time for them to retrace their steps and recover from all the misused opportunities.

It happens in any financial sector and not just in crypto. In crypto market this is more visible because of the price volatility. That's the only difference.

I think this is a trait of humans and not everyone can keep the money that are coming their way. Also some people are inexperienced on how to handle a large amount of money. So multiple factors are in play there.

Personally I have missed the chance of mining in 2009. I have an expensive gaming rig with me which could have easily mined a large number of Bitcoins back in 2009. But did I regret? No! Staying positive is what we all need to learn.