Topic: Do not fall for success stories of bitcoin investors - page 3. (Read 458 times)

I think it is better to say make it as an inspirationif we see people being successful in any field especially crypto space. But I don't personally replicate or do what they do because it might not work with me I mean their strategy might work or not, so much better to analyze things based on our own understanding. Other peoples work might be a clue or hint for us to modify according to our knowledge and perception.

Looking all you've started here,
I think one of the major drive about investment is actually base on other people's achievement and likewise their experiences. so for me i don't think it's wise for any investor to share his/her  past story in Bitcoin investment before investing.

Considering the current instability in market value.

People who hear about these exaggerated stories often get hopeful and get excited about the possible profit they might have and then when things don’t go the way they expected it to be, they will label bitcoin as a scam. This is where most misconceptions about bitcoin come from.

If we were to share success stories maybe we should also include the risks involved and the challenges we had to go through just to not make the readers hope too much.

Actually there's a similar topic like this, which also talk about how most people jump into bitcoin investment due to the success stories they Heard from those earlier investors, I think this is not a new topic anymore. However been carried away by seeing the success of those old investors, it can only be a wrong approach to those new Investors who are very curious to get profited unlike those earlier investors. without knowing that they also experience lose in the market, that is why as a beginner in this crypto space you don't have to be curious to make profit from bitcoin investment, you need to get all the necessary informations about bitcoin investment before looking out to invest.

You can't even start to imagine the amount or even the level of people that have been lured or draged into the crypto space because of all this over hyped success stories of people around them and the most is all those social media claims of big time crypto trading, I mean these guys make it look as if trading is some kind of easygoing act that probably anyone can make it without even knowing the full gist and struggles around it. I personally don't pay attention to anyone success stories that much, I simply lay on the basis that if you are a good and hardworking person knowing what you are doing then you will actually achieve this.

Not all success stories are fake, some of them are true. If all in our minds is not true, I don't think we need to start discussing Bitcoin or remain in the forum. Because I believe there are great stories, it is just people love to share their experiences and make proud of themselves. But yes, it is our opinion to think if that is real or not, we can use our instinct as well.

Perhaps, we listen to them but do not urge ourselves to fall in love with their stories too quickly. Why not try to see the real thing happen because who knows, we will be successful. Because we can't tell if they are telling the truth or not until we do it personally. In fact, it was proven already that BTC is profitable.

I will divide into 2 types of investors. For those who regularly share their losses in the market, what they want is to give a warning to newbies rather than seek sympathy. Because most of us come to the market to make profits, not to seek sympathy or friends. The second type of investors are those who often share huge profits, talk about their philosophy of life and say they like to help others… often people without good intentions. These people want us to join their signal group, sell courses or entrust investments...So we should be more wary of these types of investors than type 1.

You are right in thinking that big investors often do not like to appear in public, but not everyone chooses to stay silent and ignore the community. Many people still join social networks to share experiences and make market predictions because joining social networks like Facebook or X does not require them to reveal their identity to the community.

I think it is a common thing to tell or share someone's success story in a field. This usually motivates someone to enter the business world if they are really interested. However, what you need to realize is that this is not easy. There will be risks that can be found in any investment. Therefore, wise investors will try to do research before investing. So, it is very natural for someone to look for motivation to enter and be serious about something.

Those who fail to invest in Bitcoin will not tell others about their failure. But maybe he just shared his failure with those closest to him and said don't invest in Bitcoin because it could make you lose your money. Many have failed to invest in Bitcoin, but many have succeeded and made big profits.

Maybe beginners or new investors more often find someone's success story from investing in Bitcoin. But if he just goes along with it without learning more about Bitcoin, he probably won't have a chance to make a profit. They should also look for information about mistakes made by other new investors so they can avoid making the same mistakes.

A new investor needs to learn about investing in Bitcoin before he starts. There are many things he needs to know, and he must do this to avoid making mistakes like others. They must be able to understand investing in Bitcoin so that their opportunity to make profits can be greater than that of other people.

Know that behind those success, there’s always inevitable mistakes and losses that the investor endure first before he finally reach the end success. I think that is already known by all potential investors, as everyone started with a scratch until one enhanced his knowledge and skills and apply on his own investment. So I don’t think these new investors just got carried away, they’re probably aware already those sacrifices and losses first before they decide to invest in bitcoin.

That's what we call people being attracted to the success of other people, and because of that they will try it brcause they are also hoping that they can earn or be successful which is sometimes ends up being bad or that person meet its downfall, I mean many people are just swayed by other peoples successful and they hope that they will also have the same experience or success, which is the cause of people becoming hateful to the person that inspire them to invest, little reminder the one that cause someones miserable or losses is that person also, there's no one to be blamed. That's why I dont want to mention to anyone I know about my success or profit in bitcoin because I don't want to inspire someone that I will know to most likely blame me if something went wrong, its better to be lowkey and invest peacefully.

There is no success story that do not have its challenge but people do not talk about the challenges but only the results. For you to become successful you have to pass through many failures therefore we should not only be expecting good results when we invest in Bitcoin. Sometimes the market will fall and if you do not have patience you will be tempted to sell. Some investors did not keep their Bitcoin safe and they lost it so you have to be very protective of your Bitcoin so you do not lose them. We have to learn from all the stories that we heard as it will help us to become successful too. Listening to their success stories should motivate you to want to be like them and prepare you for the worst that you are going to encounter. To avoid losing you should do the things that are right by not storing your Bitcoin on exchange but buy a hardware wallet and keep all your Bitcoins in them.

Many investors succeed in investing in Bitcoin and there are some investors who do not succeed. If you are successful in investing then you must share your investment success story here so that others will be inspired to invest. One's success story motivates us, it doesn't mean that I will be successful if I do business like him or invest like him. 

Basically, there are many stories behind achieving success in investment, those stories may be unknown to many. After an investor invests, only that investor knows how much they struggle with that investment. Those who overcome difficult challenges and hold on to the investment in the end, but those who do not understand anything related to investment, only invest and within a few days they get excited and sell the investment, but in this case, they have very little chance of achieving success. Before investing by listening to the success stories of others, one must know about the investment, its risks and what can happen after investing.

Another way to describe it or consider everything that appears is just reference information and verify for yourself, this market has a truth that most people lose money

But then they will also realize the journey to success without depending on others, as if your life is yours to live yourself and no one will live for you.

No doubt that Bitcoin investors have enough good stories to tell and testimonies to share. This is however not the oldest and older stories alone but also the most recent ones, yes, I mean the ones that happened in less than a year. This is because Bitcoin is the epitome of testimonies, it happens daily, except that it is not everybody who will be able to share such a testimony for many reasons whether is caused by Bitcoin or not. But, if you use the aggression of the oldest stories of Bitcoin investors to judge and hence invest with that mindset, you will be making a whole lot of mistakes because, the coin was very low in price at that time, so some people even made more than x73000 of their investment in it.

The fact now is that can that happen again? This is the reality that anyone trying to invest in Bitcoin should take into consideration. The price of Bitcoin is high now, it takes wisdom and good speculative power to earn from it. People may still invest and gain money easily through it, but be sure that it can't earn you as multiple as you might have read online, no, that can only be in your dreams and imagination as Bitcoin may even find it difficult to move past $100,000 in this bullish cycle and I wonder what its fate would be in the bearish cycle coming.

So no one should entrap themselves in the name of the success story of Bitcoin as the conditions are no longer the same, or else they will regret it.

We can derive inspiration from the success stories of others but we shouldn't assume that it was a smooth ride for all. Reading these success stories serves as a motivation for people to keep hodling regardless of the FUD that is spreading in the crypto space. However, anyone who assumes that everyone who invested in Bitcoin made a profit is either blinded by ignorance or greed. It is only a small percentage of investors made a fortune from Bitcoin. Many of them sold or lost their hodling before the price increased. New investors are advised not to focus only on the benefit of investing in the sector but they should also consider the risks involved.

You’re right but an investor should be the one responsible for searching both the good and the bad in bitcoin. They should know that there really are risks involved and that they shouldn’t really believe in everything they see in social media or in the internet.

We can’t prevent people from sharing their success stories and personally it gives me lots of hope too. But I also know it’s not all like that so I try to control the hope.

No one is completely perfect; from the beginning of the crypto journey, no one knows if it will be as it is today. There were a lot of bad investment decisions back then, and a lot of people were also lucky.
 
If you go online and check out anyone sharing their success stories about Bitcoin investment and do not add about how they failed on multiple occasions, then the person is not entirely to be trusted, and the information given out by him might all be fabricated.
 
If you read a lot of the success stories about investment and trading, if you read them very well from the beginning, you will notice that they first start by talking about their past mistakes and their determination. Knowing what they want is what keeps them pushing further until they arrive at the level that warrants them sharing their success stories.

I don't know about you people but I don't get how you can fall for this kind of story, most of them only serve be an inspirational thing after all so I'm not quite sure what kind of people fall for this supposed to be feel good stories. @blckhawk is right, each individuals have different lives and I believe that, in my opinion, it should be where you're allowed to have a different and unique lives, living as a clone of someone or a shadow of someone that you idolize isn't really an appealing thing to do not to mention that it's not that fulfilling for you to do so.

Because there are only two reasons why most people fall investing in Bitcoin, one is panic selling and another one is hold the coins in centralized sites.

So if there are people who want to success by investing in Bitcoin, they need to learn how to hold their coins for few years and secure their coins in non custodial wallet.

Although there are also many successful Bitcoin investors, but successful people value their privacy. When I hear someone claimed if he's successful by investing in Bitcoin, I'm really skeptic, if he didn't sign a message, I won't trust his claim.