Topic: Have you taken lessons? (Read 750 times)
Lessons for stocks, cryptocurrencies are equal to technical chart analysis for any type of market. But the crypto market is unregulated while accepting cryptocurrencies so there is no circuit breaker rule in terms of dumps and this market operates all day, so one has to be very careful and keep monitoring. Also, due to this popularity this price is now very high. Which is a bit outside the scope of our country its mining is now time consuming.
If we start to dig out projects then there are many more fails like this and it's natural to see them coming. In many companies the reason could be bad work culture, improper management of the project path or sometimes it could be the greedy founder who just flee away without second thought about the projects. Sometimes its only about the money. Once the good level has reached they will just show spurious accounting data, showcase the company is failure and file for the bankruptcy which is legal way to tell people that they can't give back what was promised. Thus insuring their sum of money and still making the profits. In fact they also end up having more money since they are already in the profits. So yes, lesson is already there since long time now
In my opinion, there was nothing to take a lesson, these are the factors affecting the market and any person could not predict this. It is very normal for people to experience financial losses on this scale, but they have the chance to recover these losses in the future by making more proper and wise investments.
I think the direction of the investment is very appropriate if the choice is Bitcoin and ignores new altcoins which are very unimportant to look at. But losses still exist because things are triggered by bad and sluggish markets due to several external factors. An example is the case with Ftx, war, and also unstable economic growth in several countries. So that's what causes the market not to move quickly because some investors are still panicking and are also still afraid to enter the market as a whole as usual.Lessons for problems like this actually exist, and can be used as a good experience for the future, because with the many bad things that happened in the past year, some people think of taking profits as soon as possible, even if they are small, and enter the market as quickly as possible to buy when they see important assets like Bitcoin are in low price.
The FTX was the biggest lesson of all. I had so many friends texting me asking "is my money safe on Coinbase".. smh.
On the other hand that's the good impact of these lessons. People who have been keeping their money on exchanges, they're starting to question themselves, relatives and friends that has an idea of the on going situation of the market and that is if their funds are safe on exchanges.Well, if they'll just going to take a look at the situation, they should have the idea it's never been safe there and coming up with the incident of FTX and other exchanges that have fallen due to hacks, they should take the hint of it that their money is never safe kept on any exchange.
There may have been a lot of big things that happened before, but we didn't pay much attention to cryptocurrencies at that time. There are not many encrypted fans, and many news are only known to people in the encrypted market. People outside the encrypted market will not express any opinions even if they see it. Now more and more people are entering the cryptocurrency market. Anything in the market attracts attention. In 2023 there will be other people and new projects entering the crypto market. What we can do is to increase our vigilance and observe the project team and background more for new projects. Don't put all your money in the crypto market.
Yeah I guess my main lesson here is to keep doing what I am doing. I have been lucky enough to fall in with the right group of people who've taught me how to properly store bitcoin, first and foremost, what's worth "investing" in when it comes to different types of cryptocurrencies and so on. I don't store bitcoin on exchanges, I don't leave much of any on hot wallets etc.
The FTX was the biggest lesson of all. I had so many friends texting me asking "is my money safe on Coinbase".. smh.
The FTX was the biggest lesson of all. I had so many friends texting me asking "is my money safe on Coinbase".. smh.
Lucky on you that you haven't stored bitcoin in exchange, but we just really easily trusted those people who we thought trusted. The biggest lesson really is that if you don't have the private key, it means it is not yours. After the incident, most of my online friends transferred their funds into my hardware wallet for safer keeping. I hope people really learned from this incident and try not to make the same mistake again. Though I was not affected by those accidents, I learned a valuable lesson from them.
I still remember this sad events. I remember them because it affected me on a personal level. Well, the biggest lessons which I learned from everything was that no one of these companies are truly immune to these ills. Second, no matter the credentials of the founder, never trust any one of them. They are all after one thing to get your money and give it to the whales. Third, you have to stay very current with the news and happenings in the crypto space so that as soon as you get any signal, you are out before the house burns down.
Never put your trust 100% for whatever platform or services which you would really be dealing off with on this crypto space on which you should always be mindful about possible things to happen.We've seen the worst and it would keep on happening and this is something that its included on this space. THis is why you should be that mindful when it comes to your actions
and on the money on where you do store up.Nothing beats up on storing things on a non custodial one or something not centralized which you could
assure the safety of your assets.
But such an arrangement is never going to work and we have seen ample evidence of this being the case during the previous year, with this in mind it is important that investors take responsibility for their actions and learn how to store and protect their coins on their own.
Yeah I guess my main lesson here is to keep doing what I am doing. I have been lucky enough to fall in with the right group of people who've taught me how to properly store bitcoin, first and foremost, what's worth "investing" in when it comes to different types of cryptocurrencies and so on. I don't store bitcoin on exchanges, I don't leave much of any on hot wallets etc.
The FTX was the biggest lesson of all. I had so many friends texting me asking "is my money safe on Coinbase".. smh.
The FTX was the biggest lesson of all. I had so many friends texting me asking "is my money safe on Coinbase".. smh.
I still remember this sad events. I remember them because it affected me on a personal level. Well, the biggest lessons which I learned from everything was that no one of these companies are truly immune to these ills. Second, no matter the credentials of the founder, never trust any one of them. They are all after one thing to get your money and give it to the whales. Third, you have to stay very current with the news and happenings in the crypto space so that as soon as you get any signal, you are out before the house burns down.
I think 2022 is year crypto will never forget, these guys were all once billionaires through Altcoins but today have nothing to show for because of their greed and glad it wasn't bitcoin, despite involving bitcoin in their empire and affected its price, bitcoin remain stronger and unique and all their shitcoins are dead, this is the reason why bitcoin remain the number one digital currency I value more than any other digital currencies.
I observed that people who hold this Altcoins don't learn their lessons despite all theoney they have lost through these guys, I hope we all learn this lesson when the next bullrun begins next year, always stick to bitcoin as investment for safety and good state of health.
I observed that people who hold this Altcoins don't learn their lessons despite all theoney they have lost through these guys, I hope we all learn this lesson when the next bullrun begins next year, always stick to bitcoin as investment for safety and good state of health.
In my opinion, there was nothing to take a lesson, these are the factors affecting the market and any person could not predict this. It is very normal for people to experience financial losses on this scale, but they have the chance to recover these losses in the future by making more proper and wise investments.
With so many happenings in 2022, it was one of the worst years for bitcoin and the crypto market, and you didn't learn anything there? I really didn't expect it, and you think it's normal, including the FTX incident? which even hurt users and lost the trust of most people to keep investing in the bitcoin and crypto market.What I learned there is that most people worship and use centralized exchanges which in the end are scammers who steal your money, the importance of reading, the importance of analyzing an exchange that will be used as a tool for your crypto exchange and save. And most Altcoins may be potentially bad like FTX or Luna, so be careful. and in 2022 strengthen my view that Bitcoin is indeed the only one I must buy.
and people who do engage to it and rather it do reach out peak or heights that we didnt even encounter or expected for it to be touched up.
This do simply signifies that market is truly unpredictable and there's no way that we could determine on where it would be going.It might be bad situation as of this moment
but on a snap it could really make out that sudden u-turn which these are common probabilities.
In my opinion, there was nothing to take a lesson, these are the factors affecting the market and any person could not predict this. It is very normal for people to experience financial losses on this scale, but they have the chance to recover these losses in the future by making more proper and wise investments.
With so many happenings in 2022, it was one of the worst years for bitcoin and the crypto market, and you didn't learn anything there? I really didn't expect it, and you think it's normal, including the FTX incident? which even hurt users and lost the trust of most people to keep investing in the bitcoin and crypto market.What I learned there is that most people worship and use centralized exchanges which in the end are scammers who steal your money, the importance of reading, the importance of analyzing an exchange that will be used as a tool for your crypto exchange and save. And most Altcoins may be potentially bad like FTX or Luna, so be careful. and in 2022 strengthen my view that Bitcoin is indeed the only one I must buy.
So, have you expressed your rage for 2022, and what have you learned from all of this in 2022?
Taught me not to miss out on the opportunities that a bear market presents. In 2018-2019, when I first encountered crypto in the winter, I did not take advantage of the unique chance that the crypto market gave, namely the purchase of cheap coins at a big discount. Such an opportunity falls once every 4 years and many investors miss it, thinking that they should stay away from cryptocurrencies. Those who bought cheap blue chips of the cryptocurrency world in 2018-2019 made very good money. That is why I have been waiting for the crypto winter since last year, without buying anything, but only accumulating stablecoins.
Of course, the opportunities in the past that you missed are now coming your way and right before your eyes, if we missed them this time maybe we should wait quite a bit longer and wait for the cold market moment like today. Maybe history for you because it will not repeat the same mistakes as in 2018-2019.
Thank you for reminding me, it turns out that I missed a lot of events for 2022, I hope 2022 will be an important lesson for us to sort out and make wise decisions in investing in the crypto market in the future.
Of the several scammers mentioned, I only know DoKwon and SBF rogues, maybe I'm not up to date LOL.
FTX became a drama that made an impression and became an event that really, really hurt a lot of people—being the largest after Mt.Gox.
Terra LUNA also gave their investors a lot of losses, instead of making a stable stablecoin, but in fact, the UST also collapsed and Do Kwon is currently a fugitive, while the bastard SBF has been caught and will be brought to justice.
In fact, there are many lessons that can be drawn from these incidents. We can't avoid some projects that are initially promising and become top projects, even in the top 10 of CMC, but end up being trash projects that harm many people.
That makes it undetectable, now all investors are more vigilant and don't keep their money in CEX because their trust has been lost with the FTX collapse incident which used their customers' money for research purposes and eventually went bankrupt.
FTX became a drama that made an impression and became an event that really, really hurt a lot of people—being the largest after Mt.Gox.
Terra LUNA also gave their investors a lot of losses, instead of making a stable stablecoin, but in fact, the UST also collapsed and Do Kwon is currently a fugitive, while the bastard SBF has been caught and will be brought to justice.
In fact, there are many lessons that can be drawn from these incidents. We can't avoid some projects that are initially promising and become top projects, even in the top 10 of CMC, but end up being trash projects that harm many people.
That makes it undetectable, now all investors are more vigilant and don't keep their money in CEX because their trust has been lost with the FTX collapse incident which used their customers' money for research purposes and eventually went bankrupt.
because of the collapse of ftx, and also the drop in the price of tera Luna, I have suffered a loss. but from my experience it makes me more careful in investing so if investing in altcoins I think ethereum is very suitable to be used as an investment vehicle because there are so many enthusiasts and adopters of ethereum. I'm sure the tragedy will make investors switch to quality altcoins like ethereum. but still number one is definitely bitcoin which is worthy of being used as an investment vehicle.The lessons we take from my experience are: in the future I will be more careful in investing. don't fall for the second time.
The lesson we can take is that we must be careful when we invest because if we invest carelessly it will certainly have fatal consequences, namely the risk of loss will be greater. so as most people say in this forum many people suggest investing in bitcoin better, because indeed in bitcoin it will definitely be safer, even if the price goes down it certainly won't be like an altcoin which of course if it goes down can go to 0. for bitcoin of course if it goes down will not be possible until the price becomes 0.
The fact that most issues that brought this bear market was from CEX this will make investors more cautious about them and request the government to regulate them
I disagree, this cEX are brought down by the bear market and mismanagement of the fund. Most of the got bankrupt because they failed to visualize the upcoming bear market and did not prepare for it. It is always a cycle that after the ATH, Bitcoin will have a long time duration of correction called bear market that make the price of almost everything to dip or crash. And many of these centralized company are victim of circumstances unless the CEO purposely misapproriates funds for his own benefits.
Anyway, a simple lesson learned from these event, never trust centralized company especially their token. If profit is seen or target price is achieved, cash out and never look back, learn self-custody and how to secure it.
This is one of the things we need to out into consideration before trying to invest in altcoins or project that obviously looks shaky. Many of these project are good project that we never knew it would crash like that but sometimes things happens so fast that we might not have the opportunity to withdraw our funds. This is crypto market and we need to be very observant whenever we are taking decision and for me, it will be better to diversify our investment into different portfolio that to cast Everytime in one project with the aim that will are going to become a millionaire very soon.
I have my disappointment towards the year of 2022 but that doesn't mean that I have to have rage towards it.
Those things have happened already and that's there no matter what happens, the situation will never change.
It's anticipated that we'll see the market turning from bullish to bearish because that's how it used to be. But this time, too many turmoil and companies have fallen at the same time and made their share to the bear market.
Those things have happened already and that's there no matter what happens, the situation will never change.
It's anticipated that we'll see the market turning from bullish to bearish because that's how it used to be. But this time, too many turmoil and companies have fallen at the same time and made their share to the bear market.
If BTC didn't drop too much I think it won't also trigger a collapse for some of those companies. The collapse of BTC alone already cause a panic. People are selling and withdrawing their money. This should affected those crypto companies badly and then the panic got even worse. It then causes a domino effect to other crypto companies.
The biggest lesson that people learned this year is to not put so much trust in centralize platforms because they may have a trouble of withdrawing their money once the company experience some issue and it could lead to loss of funds if the company got bankrupt. Other than that, is to stay strong and have faith on cryptos. The storm will soon pass.
The biggest lesson that people learned this year is to not put so much trust in centralize platforms because they may have a trouble of withdrawing their money once the company experience some issue and it could lead to loss of funds if the company got bankrupt. Other than that, is to stay strong and have faith on cryptos. The storm will soon pass.
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