Every possible wrong crypto advices | Bitcointalksearch.org

Uhwuchukwu53

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Quote from: Ever-young on May 29, 2024, 04:04:39 PM

Quote from: GiftedMAN on May 27, 2024, 10:31:55 AM

Quote from: FirmWars on May 27, 2024, 02:37:22 AM

This will be fun, drop you 5 wrong crypto advice you can think of, I will go first.

1. You don't need knowledge before you start trading, you can even make profit while you have no trading knowledge.

This one is absolutely one of the reasons why some investors are really finding it hard to profit in crypto, either they withdraw there money when they are not supposed to, or they invest when they are not supposed to invest, meanwhile they are supposed to understand the basic knowledge before involving themselves into crypto, that will help them to be more careful and do things at the right time and also learn how to be more patient.

This one always choke many may see it as joke but it has course many failure to invest who think investment on crypto is by jumping into it without knowledge. The worst advice is to tell investor to sell off it asset when is few days to the bull run secondly telling a holder to withdraw all his investment when there is ATL thirdly advising a trader without knowledge to avoid mornitoring the trade as the profit will accumulate without been mornitored.

FirmWars

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Quote from: Unity for Humanity on May 29, 2024, 04:12:41 AM

While giving advice to someone when we are 100% sure about certain matter and when we have full understanding about that matter then we should advise other on that matter otherwise if we give wrong advice to other he may get confused. We cannot be given wrong information while proving how much we know, because wrong information can be a danger to anyone on such a platform.

That's why this has a topic named " Every possible wrong crypto advice's", you are a newbie and you can tell the difference, so this thread is working after all.

bitterguy28

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“FRX: Ferocious Alpha”

There will only be One for me but this is the most important thing every newbie must understand and that is what?

You can be an instant Millionaire if you invest even smaller amount

this is what a stupid advise or Sentence we can ever hear from someone just to lure us to invest (I know that this is exaggerated but this is true) hope that no one will fall from this .

GreatArkansas

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Quote from: FirmWars on May 27, 2024, 02:37:22 AM

(....)
5. You can become rich by taking a loan to invest in crypto.

Lol. This one for me is really the worst among the list.
Funny but this is true, a lot of people do this and are trapped on this advice because most of them end up bankrupt and broke plus they end up having loans with interest and start to have difficulty paying it.

Churchillvv

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Almost all the wrong advise I have heard in bitcoin has been shared from the Op down to the last poster and so I believe there is no need to rephrase what has been said already.

Additionally I think @Zlantan has the best I have ever heard so far, especially the part where people claim that bitcoin is demonic and how it related to devils currency, I think it's the biggest wrong assumption about bitcoin I have heard in the history of bitcoin.

Kristiyana

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Quote from: jrrsparkles on June 05, 2024, 04:30:21 PM

Quote from: Kristiyana on June 05, 2024, 02:00:00 PM

Quote from: jrrsparkles on June 05, 2024, 01:02:55 PM

Another subtle one that we come across many time which is Bitcoin is made to help the poor which isn't exactly true, it's just a form of money so if you're poor you will still be poor even if bitcoin becomes the mainstream payment but it gives an opportunity to escape from the inflation which is different and that's often people confuse with one another.

Buying hardware from the authentic seller is no problem either its available nearby or you have to import from different country.

That's really funny how can bitcoin help the poor, moreover bitcoin can only be of help to those people who have capital to invest in bitcoin, actually bitcoin is not a manna that always fall down from heaven. i think the days of manner has even ended, i have not heard about manna falling in any country for the past few years now. bitcoin is not a charitable something if you really want bitcoin to help you then you need to work so heard to get a capital to start up bitcoin investment that's the only way bitcoin can be of help to us.

I didn't mean Poor poor, the actual poor so-called someone living from pay check to pay check, who are the one has the dream of becoming rich there is nothing wrong with that but they don't know that it takes time, they want things to change overnight that is why we often see people lost their money in crypto/bitcoin even when bitcoin always on the growing side of every cycle which makes it obvious that they invest but only for short term and doing exact opposite of making profits by entering at peak of bull and lose confidence at bear market.

I thought as much, obviously there's nothing wrong if someone dream of being rich, moreover this dream can only come through depending on how hard working you're. there are some people who always dream big meanwhile they're very lazy, our dreams can only come through if we work towards it. Actually i think you're right that's for those people who don't have any idea about how bitcoin investment works, most of them see bitcoin investment as a get rich quick scheme, This is why we need to acquire the knowledge about how Crypto investment works before looking out to invest.

jrrsparkles

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Quote from: Kristiyana on June 05, 2024, 02:00:00 PM

Quote from: jrrsparkles on June 05, 2024, 01:02:55 PM

Another subtle one that we come across many time which is Bitcoin is made to help the poor which isn't exactly true, it's just a form of money so if you're poor you will still be poor even if bitcoin becomes the mainstream payment but it gives an opportunity to escape from the inflation which is different and that's often people confuse with one another.

Buying hardware from the authentic seller is no problem either its available nearby or you have to import from different country.

That's really funny how can bitcoin help the poor, moreover bitcoin can only be of help to those people who have capital to invest in bitcoin, actually bitcoin is not a manna that always fall down from heaven. i think the days of manner has even ended, i have not heard about manna falling in any country for the past few years now. bitcoin is not a charitable something if you really want bitcoin to help you then you need to work so heard to get a capital to start up bitcoin investment that's the only way bitcoin can be of help to us.

I didn't mean Poor poor, the actual poor so-called someone living from pay check to pay check, who are the one has the dream of becoming rich there is nothing wrong with that but they don't know that it takes time, they want things to change overnight that is why we often see people lost their money in crypto/bitcoin even when bitcoin always on the growing side of every cycle which makes it obvious that they invest but only for short term and doing exact opposite of making profits by entering at peak of bull and lose confidence at bear market.

Ndabagi01

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Quote from: Kristiyana on May 28, 2024, 06:06:09 AM

4. Telegram wallet is the most reliable and secured wallet to store our assets.

5. Invest in a newly launch project so that you will be the first to get profited.

4. Telegram wallets is the best wallets, lol. I never saw that coming. How can a centralized social media network that knows your activity and your personal details help secure your funds better. The big picture arrives when your account gets banned after being reported for what you know nothing about and your Telegram wallets gets invalid with money in it.

5. Just investing in a new launch project is not the best things, there’s no certainty in this crypto space, it is better not to attempt on what you’re not sure of and attempt and failed or feel regretful. Some new projects are mostly click baits, so you’vet to be careful when looking for one to invest in.

Quote from: Alone055 on May 27, 2024, 02:59:06 AM

1. Invest in Bitcoin now and you will get rich in a few years.

The biggest lie and this has made more people join the bitcoin community with such mindset. The trust is that reality always tell with time, and when it does, they become pitiful souls and looks hopeless. You can’t become rich overnight or in few years without proper planning.

Hyphen(-)

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Quote from: FirmWars on May 27, 2024, 02:37:22 AM

This will be fun, drop you 5 wrong crypto advice you can think of, I will go first.
1. You should store your crypto assets on centralized exchanges, the bigger they are the better, so if they lose your assets you will be able to hold them responsible.
2. Buy your hardware wallets from local stores nearby, you will save a lot on custom fees and shipping fees.
3. The cheaper the better, Bitcoin Cash and Bitcoin gold are better than Bitcoin.
4. There is no difference between a custodial and a non-custodial crypto wallet.
5. You can become rich by taking a loan to invest in crypto.

All these advices can be taken by people that don’t want to learn and are looking for easy ways to become part of cryptocurrency. If one wants to join crypto and Bitcoin, he/she need to do deep research to differentiate between some of these terms you mentioned like custodial and non custodial, difference between centralized exchanges and decentralized exchanges; they should also learn about the importance of their privacy so that they can know how to control their wealth and that is when they will know the exact meaning of centralized system Bitcoin gives us.

Zoomic

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The worst advice someone gave me about crypto trading was that I do not need to have any other basic knowledge to trade as long as I practice copy trading. If you are a newbie wanting to earn from crypto through trading, never you limit yourself with copy trading. Learn alot, explore as much as you can. You will never be a professional if you only rely on copy trading.

Quote from: jrrsparkles on June 05, 2024, 01:02:55 PM

Another subtle one that we come across many time which is Bitcoin is made to help the poor which isn't exactly true, it's just a form of money so if you're poor you will still be poor even if bitcoin becomes the mainstream payment but it gives an opportunity to escape from the inflation which is different and that's often people confuse with one another.

Buying hardware from the authentic seller is no problem either its available nearby or you have to import from different country.

The poor cannot invest, they will be too busy looking for means to feed. What a poor man needs is a job and a stable source of income, he can then think of investing some of the money in crypto if he wishes. Investments are for the future, poor people might be tempted to withdraw their investments to take care of urgent needs.

Dunamisx

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It would have been better if the OP to this thread would have taken his time in replying promptly as everyone has posted, because saying all these are nothing to learn from or help improve on for other people to take as a lesson, we are not expected to portray the negatives, instead, we can help the situation by projecting what is right and helpful to others as well as saying the good things about it.

Kristiyana

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Quote from: jrrsparkles on June 05, 2024, 01:02:55 PM

Another subtle one that we come across many time which is Bitcoin is made to help the poor which isn't exactly true, it's just a form of money so if you're poor you will still be poor even if bitcoin becomes the mainstream payment but it gives an opportunity to escape from the inflation which is different and that's often people confuse with one another.

Buying hardware from the authentic seller is no problem either its available nearby or you have to import from different country.

That's really funny how can bitcoin help the poor, moreover bitcoin can only be of help to those people who have capital to invest in bitcoin, actually bitcoin is not a manna that always fall down from heaven. i think the days of manna has even ended, i have not heard about manna falling in any country for the past few years now. bitcoin is not a charitable something if you really want bitcoin to help you then you need to work so heard to get a capital to start up bitcoin investment that's the only way bitcoin can be of help to us.

jrrsparkles

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Another subtle one that we come across many time which is Bitcoin is made to help the poor which isn't exactly true, it's just a form of money so if you're poor you will still be poor even if bitcoin becomes the mainstream payment but it gives an opportunity to escape from the inflation which is different and that's often people confuse with one another.

Buying hardware from the authentic seller is no problem either its available nearby or you have to import from different country.

HajiBagi

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Quote from: FirmWars on May 27, 2024, 02:37:22 AM

This will be fun, drop you 5 wrong crypto advice you can think of, I will go first.
5. You can become rich by taking a loan to invest in crypto.

It’s just for fun and you call it wrong crypto advice, but the worst one that I will never do is take a loan to invest in crypto, it is a very dangerous risk to take out a loan from any bank or someone to invest, because you don’t know what will happen at the end, before investing bitcoin you have to understand that it is an unpredicted investment that you don’t know what will happen, don’t think when you heard that bitcoin is an unpredictable investment and you thinks it’s a scam, bitcoin good investment but it is an investment that the price go down and come up at any time and any investment that you don’t knows the actual time the price can change that is why is an unpredictable investment.

Taking a loan to invest can make you end up in jail because when the time you are supposed to pay back comes and you don’t have any money with you or if you sell the coin and the money is not up to what you invested it will put you in trouble, I have seen many people who have been arrested because of loan and it will better to get your own hard-earned money to invest than take out a loan from people or any bank to invest.

kentrolla

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1. This is same as storing the asset in CEX itself as we can hold them responsible in case of any untoward incident.

2. Invest in coins under $1 as it has chances of giving higher profit than Bitcoin.

3. One can get rich real quick in crypto trading and future trading is the easiest way to become rich.

4. Buy memecoins and hodl it for long term (even for Altcoins)

5. Bitcoin's is a bubble waiting to be bursted

Wonder Work

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Quote from: Unity for Humanity on May 29, 2024, 04:12:41 AM

While giving advice to someone when we are 100% sure about certain matter and when we have full understanding about that matter then we should advise other on that matter otherwise if we give wrong advice to other he may get confused. We cannot be given wrong information while proving how much we know, because wrong information can be a danger to anyone on such a platform.

You are right. They are the ones who come for advice, they think we know something good, and the advice we give must be 100% true. One should not say much about what is not known. If you don't know, it's better not to do it. He should not be misled by the wrong information. I have seen many people suffer losses and destroy everything by making the wrong decisions. For this, it should be said about the very sensitive issues, which will be good. Do not endanger yourself with the wrong information.

KingsDen

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Quote from: BABY SHOES on May 28, 2024, 05:11:22 PM

3. Bitcoin is already too expensive, choose an altcoin with a low MC with a possible upside potential.

The worse advice I received as a beginner in the cryptocurrency industry. I met bitcoin while it was at the range of $8k, I was told that bitcoin was too expensive that I should buy altcoins instead. I would have been able to acquire .3 or .4 BTC then but I was discouraged.

Quote from: BABY SHOES on May 28, 2024, 05:11:22 PM

5. Meme coins can you get rich quick than bitcoin.

But this is not a lie, it is true. Just that if you are willing to take the risk and invest in the right meme coin. I might not use the word 'invest', but rather 'gamble'.

GeorgeJohn

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Quote from: SatoPrincess on May 27, 2024, 08:44:54 AM

Bitcoin is only used by criminals
It’s too late to buy Bitcoins, invest in altcoins.
Borrow money to buy Bitcoins.
Save your private keys on your email.
Bitcoin is a scam.

This is exactly what people always said about bitcoin, but as a cryptocurrency enthusiasm you can not allow such their philosophy or philosophical exclamation or theories to deceive you, so many people who is into organs of government is cryptocurrency haters and they always frame a negative information to cryptocurrency mostly Bitcoin so that you may not have the interest in cryptocurrency and especially bitcoin...cryptocurrency has became the top chart base on it adoption in society despite that many people have known the important of cryptocurrency and its adoption.

Belarge

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Quote from: Ever-young on May 29, 2024, 04:04:39 PM

This one is absolutely one of the reasons why some investors are really finding it hard to profit in crypto, either they withdraw there money when they are not supposed to, or they invest when they are not supposed to invest, meanwhile they are supposed to understand the basic knowledge before involving themselves into crypto, that will help them to be more careful and do things at the right time and also learn how to be more patient.

Knowledge is important and learning never stops, always looking for activities to enrolled round. Investors should bend down and understand the system because it comes with surprising news which will become headache for most of these investors. I've come acrossed so many ugly incidents in the system, but we should stay low because hitting enormous profits requires silent and discreet momentum.

Bushdark

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Quote from: Alone055 on May 27, 2024, 02:59:06 AM

1. Invest in Bitcoin now and you will get rich in a few years.

2. Use a single, multi-coin wallet for all your crypto holdings because it is more convenient to have them all in one place.

3. Don't sell any of your assets no matter how high the market may go because it will always go higher in the future.

4. Sell your property, invest the money in cryptocurrencies, and buy it again when you get profits.

5. Some altcoins are better than Bitcoin.

From all you have written, how many of these rules have you been following.
I know that sometime it is very easy to advise people but it could be very hard to follow the advise.
One need to understand what it takes to follow all these rules you have written especially when the fund is not that sufficient.
People are passing through shit and we don't expect others to do things the way we are doing the thing.
We need to be wise and take every step at a time before moving to the next one.

Topic: Every possible wrong crypto advices (Read 411 times)