I read 250 comments of people saying what they learned from investing in crypto

pooya87

legendary

Activity: 3472

Merit: 10611

Quote from: pixie85 on June 05, 2019, 06:04:40 PM

Quote from: Twinkledoe on June 05, 2019, 04:57:20 PM

Those comments are really true and experienced a lot of them as well. But this one struck me the most - "- Not selling when you're up 40x is literally retarded (obvious, but learned the hard way)." If a holder doesn't sell yet at this point, then, it is called greed. Tongue

I might do that also if I see that coin is still continuously rising. LOL

No it's not always greed. Some people don't sell even when they're up 400x because they don't need fiat and they are not traders.

Some people believe in crypto and want to spend it. They don't want to exchange and have to pay taxes on their crypto. They don't want to be spied on by government ass kissers like coinbase. They prefer to be paid in crypto pay other people in crypto give friends and family crypto gifts and hold for the better future!

it depends on what they are holding and not selling.
if it is something that they have actually analyzed and came to the conclusion that it has a true long term potential of growth so they made an "investment" then it is more than fine to keep holding it and not selling and you are correct, that is not greed, that is planning. like bitcoin.

but if it is some altcoin they are bag holding without any analysis and just based on what the social media pumpers told them about some fake potential and just because they hope the price goes up, then it is obviously greed and stupidity combined. this won't end well for them ever.

jonathan6655321

member

Activity: 286

Merit: 23

GuerrillaBuzz: Top Web3 PR & Marketing Agency

Quote from: anu1908 on June 05, 2019, 11:20:32 AM

Quote from: jonathan6655321 on June 05, 2019, 06:41:56 AM

But the summarize of all the comments from there is something I arranged by my self (I'm gathering trading tips for the upcoming bull market)

what i see from your post is copy paste. you don't summarize them, you just cut and paste words from one, two, or more post. even the wording is 100% similar.

here's the original post from your 'source':

Quote from: btc_clueless

-The Mt Gox price crash taught me patience and if in doubt, just wait and hodl
-The bull market makes you feel like a genius because every coin you buy goes up, but only the subsequent bear market will show which of your picks were actually solid
-Adoption doesn't happen as quickly as most people think
-Market cycles are a real thing, it's good to understand them
-Don't listen to people who brag about some quick gains they made by chasing some pump - most of them will get rekt sooner or later and silently disappear from these subs
-Short term swing trades are harder to pull off than they may appear. The short term market fluctuations are often irrational
-It's much safer to play the long game: DCA buy around the bottom, hold patiently until the end of this market cycle and then DCA sell around the top
-Don't leave money on exchanges. Even the biggest exchange can get hacked
-Double check that you wrote down all seeds, passwords and 2FA codes properly and keep them in a safe space (Evernote or any other cloud space are not a safe space for your seed).
-Don't forget about taxes. Every trade, even crypto-to-crypto is a taxable event (in most jurisdictions). This can add up quickly. Make sure to document every trade
-Even with all that hype in 2017/2018, it's not too late to join this game and make profits. We are still early on.

Quote from: rekkktttt

Not selling when you're up 40x is literally retarded (obvious, but learned the hard way)
Waiting for a buy in price you like is better than settling for a price you know is too high
Don't invest anything significant in random low cap projects, even if you like them. Always approach low cap projects like you would some shady penny stock and expect that anything you invest could be lost in the blink of an eye.
Don't tell family or friends to buy crypto. If you shill it to them and they inevitably get fucked (likely from 1, 2, or 3) then they will blame you for it.

all taken from https://www.reddit.com/r/CryptoCurrency/comments/bwojdm/what_have_you_learnt_since_first_investing_into/

When I said summarized I meant that I took the answers I liked the most.
I gave credit to the source

If you're looking to spread some negativity here go ahead

malevolent

legendary

Activity: 3472

Merit: 1724

This topic used to be pinned in the newbies/beginners section:

Trust No One

Quote from: dacoinminster on August 02, 2011, 04:56:57 PM

Seriously. Don't trust the exchanges, don't trust online wallet services, don't trust your anti-virus software, and don't trust anybody online.

sunsilk

hero member

Activity: 3038

Merit: 634

All of them are correct. I'd like to highlight that leaving your funds on exchange which is absolutely right. Never ever leave large sums of crypto on exchanges these days because hacking is hot and it happens almost everywhere.

Same goes for the first comment, leave the funds on exchange that you afford to lose. I know it is hassle if you will keep on transferring from time to time (exchange <-> wallet) but it's better to pay the fees just to be secured with your funds.

pixie85

hero member

Activity: 2184

Merit: 531

Quote from: Twinkledoe on June 05, 2019, 04:57:20 PM

Those comments are really true and experienced a lot of them as well. But this one struck me the most - "- Not selling when you're up 40x is literally retarded (obvious, but learned the hard way)." If a holder doesn't sell yet at this point, then, it is called greed. Tongue

I might do that also if I see that coin is still continuously rising. LOL

No it's not always greed. Some people don't sell even when they're up 400x because they don't need fiat and they are not traders.

Some people believe in crypto and want to spend it. They don't want to exchange and have to pay taxes on their crypto. They don't want to be spied on by government ass kissers like coinbase. They prefer to be paid in crypto pay other people in crypto give friends and family crypto gifts and hold for the better future!

Successmaniac4

member

Activity: 196

Merit: 10

You need a lot of courage to invest in crypto. It is all about taking risks and being ready to face the consequences that comes with the risk taking. Don't invest too Mich and don't be carried away by the sharp increase in the price of a coin.

rdbase

legendary

Activity: 2828

Merit: 1497

Join the world-leading crypto sportsbook NOW!

I like these statements about cryptocurreny you have pointed out because I think atleast everyone who has been apart of it and have invested in it has heard one of those phrases atleast once in their lifetime.
Unfortunately I havent taken heed in these ones: - Don't invest it all at once, do it in stages and - Only invest what you can afford to lose. ~ as I dont have any crypto to show for the decisions I have made within my cryptolife. Embarrassed

Twinkledoe

full member

Activity: 1904

Merit: 138

★Bitvest.io★ Play Plinko or Invest!

Those comments are really true and experienced a lot of them as well. But this one struck me the most - "- Not selling when you're up 40x is literally retarded (obvious, but learned the hard way)." If a holder doesn't sell yet at this point, then, it is called greed. Tongue

I might do that also if I see that coin is still continuously rising. LOL

Fred3030

jr. member

Activity: 728

Merit: 2

I must say you have done a nice detailed analysis of common statements associated with investing in crypto. Some are entirely true while some are not. For me I hold the following dearly as my crypto investment principles

1. Never invest what you can't afford to loose

2. Don't hold blindly without any actions

3. Don't bring your emotions into crypto

4. Don't fall in love with your bags

5. Know when to sell and when to buy

6. Never catch a falling knife.

smyslov

sr. member

Activity: 2030

Merit: 269

Good compilations the community can use this as a guide at different occasions if Buffet has his own set of quotes that his followers can use, it's about that we should have our own too, this is a big help for newbies who will just come in to invest in cryptocurrency.

Ryan Dugan

hero member

Activity: 924

Merit: 501

Crypto to crypto exchanges are not taxed. How? Cryptois issued by people to other people not by the government. There is no tax to pay. I wish people stop this. It's like you enjoy paying tax. If you a big believer in tax then by all means use fiat.

I was thinking of giving you a merit but im not sure of this is a copy taste and I was once fooled before and was annoyed for giving merits for a copy paste. I won't let it happen again.

kryptqnick

legendary

Activity: 3248

Merit: 1402

Join the world-leading crypto sportsbook NOW!

Quote from: anu1908 on June 05, 2019, 11:20:32 AM

Quote from: jonathan6655321 on June 05, 2019, 06:41:56 AM

But the summarize of all the comments from there is something I arranged by myself (I'm gathering trading tips for the upcoming bull market)

what i see from your post is copy paste. you don't summarize them, you just cut and paste words from one, two, or more post. even the wording is 100% similar.

Yeah, you are right that it's not right to call it summarising, which is probably why the original post was edited accordingly. Even with the text belonging to other people, I think it's a great deal of work to go through 200+ comments and choose the most important ones. Some of these pieces of advice are more relevant than others, but the overall list seems not so bad. Even though many rules can seem simple, people often make mistakes with easy things, so sometimes it's the basics we have to be reminded of, like not being greedy and not investing more that we afford to lose.

rdluffy

legendary

Activity: 2366

Merit: 1408

Hey this is pure gold, or BTC Grin

I agree with all, and should be read by every person who want to buy cryptos and learn about

But I have to say, there is some statments that you'll only learn with practice

anu1908

sr. member

Activity: 770

Merit: 268

Quote from: jonathan6655321 on June 05, 2019, 06:41:56 AM

But the summarize of all the comments from there is something I arranged by my self (I'm gathering trading tips for the upcoming bull market)

what i see from your post is copy paste. you don't summarize them, you just cut and paste words from one, two, or more post. even the wording is 100% similar.

here's the original post from your 'source':

Quote from: btc_clueless

-The Mt Gox price crash taught me patience and if in doubt, just wait and hodl
-The bull market makes you feel like a genius because every coin you buy goes up, but only the subsequent bear market will show which of your picks were actually solid
-Adoption doesn't happen as quickly as most people think
-Market cycles are a real thing, it's good to understand them
-Don't listen to people who brag about some quick gains they made by chasing some pump - most of them will get rekt sooner or later and silently disappear from these subs
-Short term swing trades are harder to pull off than they may appear. The short term market fluctuations are often irrational
-It's much safer to play the long game: DCA buy around the bottom, hold patiently until the end of this market cycle and then DCA sell around the top
-Don't leave money on exchanges. Even the biggest exchange can get hacked
-Double check that you wrote down all seeds, passwords and 2FA codes properly and keep them in a safe space (Evernote or any other cloud space are not a safe space for your seed).
-Don't forget about taxes. Every trade, even crypto-to-crypto is a taxable event (in most jurisdictions). This can add up quickly. Make sure to document every trade
-Even with all that hype in 2017/2018, it's not too late to join this game and make profits. We are still early on.

Quote from: rekkktttt

Not selling when you're up 40x is literally retarded (obvious, but learned the hard way)
Waiting for a buy in price you like is better than settling for a price you know is too high
Don't invest anything significant in random low cap projects, even if you like them. Always approach low cap projects like you would some shady penny stock and expect that anything you invest could be lost in the blink of an eye.
Don't tell family or friends to buy crypto. If you shill it to them and they inevitably get fucked (likely from 1, 2, or 3) then they will blame you for it.

all taken from https://www.reddit.com/r/CryptoCurrency/comments/bwojdm/what_have_you_learnt_since_first_investing_into/

Kakmakr

legendary

Activity: 3542

Merit: 1965

Leading Crypto Sports Betting & Casino Platform

The thing with Bitcoin is this, you have to experience these things for yourself and take what you can get from other people's failures and mistakes to prevent yourself from making those mistakes.

I find doing these things on your own and sometimes even bumping your own head, helps to build you and mould you to prepare you for the more complex things to come. Enjoy the journey and the ride. Tongue

roosbit

member

Activity: 893

Merit: 43

Random coins :)

Good work OP but what nobody won't tell you to be the successful investor is you need to be different, be the person that's ready to take some risk and fyi what works or worked for others might not work for you. Try find your recipe of success.

Just so you know, everyone needs the basics to survive investing in crypto, which is also my number one guide "Always do your due diligence" and you will never go wrong.

Cacingkemi

hero member

Activity: 1484

Merit: 516

Very good summary, hopefully it helps for all of us are just learning to invest in crypto. the most important is the first point "Only invest what you can afford to lose", the best investment we must think of other aspects that is lose.

jakelyson

legendary

Activity: 2240

Merit: 1069

Most of the comments, I can relate but this one really hits me :

Quote

Not selling when you're up 40x is literally retarded (obvious, but learned the hard way).

I learned this lesson in a really hard way. This happened during the 2017 pump, now I am wiser.

Always take every failure a lesson and a stepping stone. Crypto is still very young, there are still too many to learn and too much to earn.

pundit

full member

Activity: 868

Merit: 104

Nice collection of some golden rules for investing in crypto market. These rules are derived from someone's real life experience. If one follows all these rules he/she can earn good profit in crypto market. The sad part is most of the investors do not follow such rules and go or investing based on other's recommendations which most of the time bring loss to them. No doubt that market behaves dynamically,everytime there is different situation , one needs to understand the market cycle before investing.

xvids

sr. member

Activity: 1176

Merit: 301

Most of them are true and base on the experience of those who wrote them.
And we all know that experience is the best teacher so for me all of those comments are true.
And we should learn from it so we wouldn't also do their mistakes .

Topic: I read 250 comments of people saying what they learned from investing in crypto (Read 349 times)