Cut you coat according to your cloth

Bitcotalk

hero member

Activity: 966

Merit: 517

Quote from: cxmyifan16 on October 12, 2018, 05:31:14 PM

I think today everyone can earn as much as you can. To my mind, you can be a rich person by investing in the coins like btc and ether, neo and ripple. I think that it is better to have aims to become a successful trader

Well this is twenty first century and things are being based on technology plus everything is getting tokenized even fiat so in a world like this, you can make money and huge money by coming up with an idea that is feasible and can solve a problem.

This will enable you raise funds and thereby making you a CEO of a company that would be selling huge services and making big money. This is just one way of doing that.

justspare

hero member

Activity: 1022

Merit: 538

That is a very bad which I won't advise anyone to take.

I wouldn't even advise you to make use of money that you need urgently to make purchase of bitcoin or any crypto in the market, talk less of telling you to invest in project that you don't know how it would turnout this is pure greed and should be avoided by all means.

Invest only the amount you can avoid to risk and also make sure you do a good study about any project before thinking of making investment.

Sundaey

jr. member

Activity: 518

Merit: 4

I believe only new commer these days believe or are convince by project attractiveness, maybe such person haven't heard about crypto scam. There are more than what these projects post online to believe, the scam ones are even more reasonable reading them than the real ones. So don't be bothered about those complaining because some people are meant to lose for others to gain.

Cyptobonds1

jr. member

Activity: 262

Merit: 2

I think your say isn't well said enough. You stating cut your coat according to your cloth is not right, which shows you aren't wish enough to the writer. Imagine going for a cloth and not considering the size, you might end up regretting you get one.

fibrolit

sr. member

Activity: 784

Merit: 255

Quote from: BitcoinHodler on March 02, 2019, 08:58:41 AM

there is nothing wrong with investing a large amount of money in anything but you have to follow certain principles first.
1- be OK with taking big risks.
not everyone is a risk taker and not everyone is willing to take big risks. there are a lot of pros and cons to that kind of behavior for example a lot of the millionaires have taken big risks.
2. the risks you take must be calculated ones
some people mistake taking big risks with gambling their money. and because of that they lose money

in short take this example. if someone took a big loan and invested it in bitcoin when it had a slow market back in 2015 (after the big bubble burst) and was getting ready to rise and held it for 2 years then they could have become millionaires.
but the same people who took a loan and invested at the top of the bubble when it was too late or invested it in altcoins and got dumped on lost all they had!

the same scenario is repeating today. people are ignoring buying bitcoin and then when it is too late (like when bitcoin is at $50k) they decide to buy in.

Absolutely agree.That's human psychology.Now, due to the low rate of bitcoin and altcoins, many people have left the markets and in General from the sphere of cryptocurrency. As soon as the sharp growth begins, a lot of people will come running to the market again.And again will buy at a high rate.

BitcoinHodler

hero member

Activity: 1456

Merit: 579

HODLing is an art, not just a word...

there is nothing wrong with investing a large amount of money in anything but you have to follow certain principles first.
1- be OK with taking big risks.
not everyone is a risk taker and not everyone is willing to take big risks. there are a lot of pros and cons to that kind of behavior for example a lot of the millionaires have taken big risks.
2. the risks you take must be calculated ones
some people mistake taking big risks with gambling their money. and because of that they lose money

in short take this example. if someone took a big loan and invested it in bitcoin when it had a slow market back in 2015 (after the big bubble burst) and was getting ready to rise and held it for 2 years then they could have become millionaires.
but the same people who took a loan and invested at the top of the bubble when it was too late or invested it in altcoins and got dumped on lost all they had!

the same scenario is repeating today. people are ignoring buying bitcoin and then when it is too late (like when bitcoin is at $50k) they decide to buy in.

Sanford

jr. member

Activity: 462

Merit: 1

Imagine that cryptocurrency is a casino. The casino almost always wins. So it’s not worth risking so much to lose your life. Unfortunately, people are closed and do not understand there are many projects that will allow them to become rich. Let's say YouTube. I have seen blind bloggers. Despite their shortcomings (which is not the ability to receive information from external sources), they are building their careers. It is not necessary to distribute the food for satoshi here today)

styca

sr. member

Activity: 1078

Merit: 354

It is certainly not advisable to take big risks with your money in crypto, as it is so volatile. But I think the most important thing in this as in life in general is if you do make mistakes, then the best thing to do is to learn from them. It's how we all improve our decision making.

bttmember

member

Activity: 938

Merit: 13

AMEPAY

You are ready and that is why i advocate this always to stick to the basics of investing and invest only you can afford to loose and this approach of investing by taking loans, selling car or home is devastating because no investment can guarantee profits unless the margin is very small so some sense should prevail while investing and we should not invest blindly.

Ifemini

member

Activity: 690

Merit: 12

There are consequences for every action

Quote from: Bonwin on October 10, 2018, 10:58:10 AM

Cut you coat according to your cloth and not your coat according to your size, because your size might be a big one, but your cloth might not be enough to sow that big size.
I once came across some projects that later went bad, where some saw their losses as part of the hazards of business, learnt their lessons and just let it go without brooding on it. While some were busy complaining almost everyday that:
   "I used my children's tuition fee, thinking i will be able to cash out before they resume";
   " I sold my house and car to invest into the project";
   "I borrowed money to invest";
...and so many other complaints.

Some people, because of their greediness or because they see others invest huge amount of money, then decide to put all their life savings and sometimes borrow money to invest.
No matter how attractive a project might look, only invest with your spare money.

A drop of water makes a mighty ocean, gradually you will make your profit and perhaps from what you have or what you will get, you will be able to make big investment later in future.

This is very right
Never sell your property to make investments
Investments should be from your extra income

Be smart and dyor always

jpnl0008

jr. member

Activity: 364

Merit: 1

An advise every want to successful investor should buy into investing what you can afford to lose only makes you a good investor though there are risks involved in them little by little you will start making profits rome was not built in a day but consistency made it a reality

Denreal

jr. member

Activity: 784

Merit: 6

Imasgine what is happening at the moment, i will not be surprised if some people are now borrowing again to invest. They have seen the market moving uptrend again and might not want to miss out. Instead of them to invest with what they personally have and what they can afford to lose, greed might make them to invest above their personal earnings, by borrowing.

mandeepcrypto

newbie

Activity: 112

Merit: 0

I am a newbie But I read all the suggestion given by the our seniors. They always suggest never invest your all savings .Spent only that much of amount which you can bear as losses.

Ravenangel

member

Activity: 448

Merit: 10

I like that saying, I'm going to borrow it haha, we also have one here that is similar, you have to wrap up as far as you reach the blanket, that means it is advisable to buy what you can but without exceeding, we always have to invest what we can afford to lose, especially in this volatile market.

Mysteryla

jr. member

Activity: 420

Merit: 3

Those who fall victim of mistakes like this I believe are not well informed, because i believe everyone in the crypto space should know that cryptocurrency is volatile and that anything can happen. It is like taking a risk that you know might lead go anywhere.

cxmyifan16

member

Activity: 377

Merit: 10

The Premier Digital Asset Management Ecosystem

I think today everyone can earn as much as you can. To my mind, you can be a rich person by investing in the coins like btc and ether, neo and ripple. I think that it is better to have aims to become a successful trader

sandra_x

member

Activity: 574

Merit: 14

A lot persons came into the crypto space with the wrong notion that it is some kind of a 'get rich quick' scheme and they end up taking unmitigated risks and exposure, such wrong notion were often as a result of wrong orientation they got from friends or colleagues.It is true that some persons became overnight millionaires over night, those are exceptions rather than the rule. Success in cryptos require dedication and patience

Sylvial

jr. member

Activity: 182

Merit: 2

One of the rules of crypto is that you shouldn't invest with borrowed money, as losses could leave you in debt, neither should you invest meant for very important things. Invest what you're willing to lose

Mr.Boring007

newbie

Activity: 37

Merit: 0

This kind of behaviour is not encouraged. It is sad to see what greediness does to a person, to invest life savings or every last penny in a project in this volatile market is very pathetic. Be smart people.

Bonwin

member

Activity: 798

Merit: 38

Cut you coat according to your cloth and not your coat according to your size, because your size might be a big one, but your cloth might not be enough to sow that big size.
I once came across some projects that later went bad, where some saw their losses as part of the hazards of business, learnt their lessons and just let it go without brooding on it. While some were busy complaining almost everyday that:
   "I used my children's tuition fee, thinking i will be able to cash out before they resume";
   " I sold my house and car to invest into the project";
   "I borrowed money to invest";
...and so many other complaints.

Some people, because of their greediness or because they see others invest huge amount of money, then decide to put all their life savings and sometimes borrow money to invest.
No matter how attractive a project might look, only invest with your spare money.

A drop of water makes a mighty ocean, gradually you will make your profit and perhaps from what you have or what you will get, you will be able to make big investment later in future.

Topic: Cut you coat according to your cloth (Read 204 times)