I tried to tell him just HODL bitcoin, don't make this hard.

Sled

hero member

Activity: 1680

Merit: 535

Bitcoin- in bullish time

Quote from: verita1 on April 09, 2021, 04:10:06 PM

It is a pity! Your friend lost patience. There is a certain percentage of bitcoiners who also lose it with bitcoin and decide to experiment with altcoins. Investors in bitcoin think of a long-term investment, it is not the only coins in their portfolios. An example of them is Grayscale services, let's take a look at this tweet.

Quote

09/04/21 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.

Total AUM: $ 46.1 billion

$BTC $BCH $ETH $ETC $ZEN $LTC $XLM $ZEC $BAT $LINK $MANA $FIL $LPT

https://twitter.com/Grayscale/status/1380620890535247872?s=19

What happened to your friend is a bad experience that reminds us that we must set a goal and not hesitate to avoid having to regret bad decisions.

This is just to know that not all are having the courage to hold longer. Many were often discourage especially when they saw a market declines, the chart is red, and they will think negatively. That person as OP mentioned is an example of those people that are incapable to stay calm but they often to get worried and then thinking about selling.

That is somewhat pitty but that is his decision, he could realize it soon and that might be a reason for him to change. I hope he will.

verita1

member

Activity: 1358

Merit: 81

It is a pity! Your friend lost patience. There is a certain percentage of bitcoiners who also lose it with bitcoin and decide to experiment with altcoins. Investors in bitcoin think of a long-term investment, it is not the only coins in their portfolios. An example of them is Grayscale services, let's take a look at this tweet.

Quote

09/04/21 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.

Total AUM: $ 46.1 billion

$BTC $BCH $ETH $ETC $ZEN $LTC $XLM $ZEC $BAT $LINK $MANA $FIL $LPT

https://twitter.com/Grayscale/status/1380620890535247872?s=19

What happened to your friend is a bad experience that reminds us that we must set a goal and not hesitate to avoid having to regret bad decisions.

Barry Mantle

jr. member

Activity: 75

Merit: 1

everybody gets price they deserve...
unfortunately, i think that nearly everyone has to burn his hands, you know. Experience is the best teacher. All you can do is hope that he learnt his lesson.
And keep in mind that you are not responsible for mistakes of others. Not for family, not for friends, not for your GF if you did not sell her for those sweet sats.

Expecto

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Activity: 980

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Quote from: sherryDEFI on March 31, 2021, 02:06:47 AM

Friend I met here on facebook.

Had a bunch of money in bitcoin last year. I told him not to do it, but he sold it ALL.....for EOS.....

He held EOS for like 6 months from july 2020 till roughly late February of 2021(EOS price has barely grown 100% in 6 months which is terrible for a shitcoin).

Bitcoin hit $57K, he thought it was the top. Sold ALL his shitcoin EOS when bitcoin hit 49K during a brief dump. He thought bitcoin was "old and slow". I told him it was still the undisputed,uncontested king.

Then he REALLY FUCKED UP and shorted bitcoin at $47K......

Don't be like him, sell shitcoins, HODL Bitcoin. Don't short bitcoin.

If you think the project of a crypto is promising and really nice, you can invest in that altcoin and HODL it for some time also. But as for Bitcoin, there is no other more logical way than HODLing it. You can't expect a decent profit while shorting Bitcoin. Patience is the number one thing after investing in BTC.

xanxus.kun

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You have to get what you want your own way.

Dude, I don't think its a good idea to push your beliefs on someone else, what if its the other way around and you were wrong. Feel free to make some suggestion but make sure that in the end, they will be the one to make the decision. After all, its their money and they should be the one responsible about it.

gbrendeh

jr. member

Activity: 172

Merit: 1

To make good profit in crypto market require patience and not jumping in and out of indisputable asset like Bitcoin. Hope he has learned the lesson and will make a right choice from now onward.

yohananaomi

sr. member

Activity: 2422

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Hire Bitcointalk Camp. Manager @ r7promotions.com

Quote from: rodskee on April 04, 2021, 09:49:36 PM

Why does it looks like you are blaming yourself for your friends Stupid action ? he don't deserve your affection mate.

Try to spend your time in more valuable things and that is Investing on your own and caring about someone like Him.

I have done that so many times before but now? I'm tired and I quit, these days I just entertained those who ask for advice and not giving any single seconds for others.

all will end with regrets later, because if it is in front of it is not regret but is registration.
sometimes the nature of people is certainly different and cannot be equated but usually later it will end the same thing with others, regret.

You have to tolerate this because it is a humane thing and will continue to be done by people who do not understand circumstances different from those who have experienced it, so like you will certainly invest in yourself and not think about things that do not care about you. Of course the things that happen will make someone unable to think clearly because they are divided by things that are not desired. but it was the best experience of being able to stay upright.

isaac_clarke22

sr. member

Activity: 1610

Merit: 264

Quote from: finaleshot2016 on April 04, 2021, 07:51:40 AM

~

I am seeing a lot of people here in crypto that they're really emotionally controlled when they do their trading or investment.
I am not quite surprised if they even dumped their BTCs when the alts started to fall.
Thing is people have different perception to what an opportunity and disaster is.
Another one would be not investing their time researching as well.

Vishnu.Reang

sr. member

Activity: 1988

Merit: 453

Quote from: pooya87 on March 31, 2021, 04:53:04 AM

People who aren't day traders and are not familiar with how pump and dumps work should never touch any altcoins ever, it will end in misery for them if they are lucky! Otherwise they lose all their life savings in the altcoins market to these pump and dumps.
Looking back at the past 3 years, ever since 2017 all the altcoins have been dumping consistently. Holding them is obviously foolish. They are made to day trade.

As for bitcoin, those who don't want to learn from the history and without using their head make statements like "it is old" shouldn't enter bitcoin world at all, specially if they think bitcoin is old while buying a shitcoin!

To this date, close to 10,000 different altcoins have been created and out of that more than 90% are either dead or dormant by now. These coins had their 2 seconds of fame, when they went up in pump-and-dump cycles. There are a few users who ended up in profit, by purchasing these coins at low prices and selling them during pumps. But in 99% of the cases, it was the promoters who profited from these coins. Ordinary users almost never benefited from these altcoins.

TastyChillySauce00

legendary

Activity: 3010

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Leading Crypto Sports Betting & Casino Platform

Quote from: finaleshot2016 on April 04, 2021, 07:51:40 AM

People shouldn't invest if they can't control their feelings, and they shouldn't invest in coins that haven't been thoroughly researched.

One of the basics of trading is studying the coins because you're spending money on a coin because you know it is promising and a lot of future ventures, not because of the hype. If you believe it will turn bullish soon, hodl and wait rather than panic selling because you will lose a lot of money.

2021 has a good result for cryptocurrency, just be patient and wait for the huge outcome. I researched first before trying to enter the market especially right now where altcoins are giving x10 or x100 profits. Grin

I mean, using feeling when trading is okay but the problem is some people just rely entirely on feeling without any analyzation thus the bad decision.

Quote from: kokojie on April 02, 2021, 08:59:51 AM

I can never understand why people want on the short side against an asset that has proven to go up at average of 300% per year for the past 12 years when flattened out the volatility. That's such a bad risk/reward.

I think it's more of people believing that bitcoin has reached its peak somewhat and think it's gonna be a lot slower in term of growth and the volatiltiy just isn't there although it's true that from the past decade the bagholder has proven to be the winner but it's just human nature to have doubt that the very same thing could happen twice.

kotajikikox

full member

Activity: 2548

Merit: 217

Quote from: sherryDEFI on March 31, 2021, 02:06:47 AM

Friend I met here on facebook.

Had a bunch of money in bitcoin last year. I told him not to do it, but he sold it ALL.....for EOS.....

He held EOS for like 6 months from july 2020 till roughly late February of 2021(EOS price has barely grown 100% in 6 months which is terrible for a shitcoin).

Bitcoin hit $57K, he thought it was the top. Sold ALL his shitcoin EOS when bitcoin hit 49K during a brief dump. He thought bitcoin was "old and slow". I told him it was still the undisputed,uncontested king.

Then he REALLY FUCKED UP and shorted bitcoin at $47K......

Don't be like him, sell shitcoins, HODL Bitcoin. Don't short bitcoin.

How i wish to have a Friend like you lol, Because you are really concern about His Trading activities.

Bitcoin is the strongest coin in crypto world, So if you are willing to Wait then I see no reason for you to lose at any case.

Quote from: masphie on April 05, 2021, 09:52:20 PM

hahahahahaha..... not everyone thinks like you, maybe they have their own analysis. And all decisions will have consequences.
So, just relax ^^

I can Feel Him , Because in past i also did that to some friends , But like what OP's experience they denied my advises and feels frustrated when it happens soon.

masphie

full member

Activity: 896

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-= OI =-

hahahahahaha..... not everyone thinks like you, maybe they have their own analysis. And all decisions will have consequences.
So, just relax ^^

Ewox

sr. member

Activity: 812

Merit: 253

Well that’s a lesson for him to learn when trading. And that’s why we need to educate ourselves also about these cryptocurrencies so you’d know what coins need to be hodled or for short term. Not everyone has the capability to hodl and not mix it with their emotions and think it’ll be the peak of these cryptocurrencies especially Bitcoin because we’ll never know, we will wake up the next day and Bitcoin will be $100k and regret afterwards for not hodling.

Liliana Franco

newbie

Activity: 22

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people that think they’re late...this story is way worse than being late. knowing about bitcoin only to bet against it is an even worse situation. especially when it blessed you with gains only to throw it all away.

AndySt

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Activity: 2184

Merit: 1012

Quote from: Sithara007 on April 05, 2021, 12:03:25 AM

Quote from: Sanugarid on April 04, 2021, 10:45:01 PM

Do not let your emotions take cover your decision. Sooner or later, you'll regret that decision you made. Well investing in ALTcoins is not a bad thing but the worst decision he made is selling all of his assets in BTC. Thank you for sharing your experience and I learned something from it.

This is what happens when people get greedy. It is true that some of the altcoins are going up very fast. I am talking about coins such as Ethereum, Binance Coin, Polkadot, Cardano.etc. There is a lot of hype around these coins. But the most important fact that everyone is ignoring is that out of the 10,000 plus altcoins, only a small fraction has gone up like this. The remaining coins are still stagnant or declining.

Despite all the changes that are taking place in the world of cryptocurrency, bitcoin has been and remains the coin with the largest capitalization and the largest recognition. All other cryptocurrencies are quoted exactly to bitcoin and therefore usually strongly depend on the exchange rate dynamics of bitcoin. Therefore, any novice or doubting investor should first of all have bitcoin, and as for altcoins, it is worth bearing in mind the risks. You can say as much as you like about the riskiness of investing in bitcoin, but investing even in the most popular altcoins is always riskier.

jjdub7

hero member

Activity: 938

Merit: 502

Quote from: sherryDEFI on March 31, 2021, 02:06:47 AM

Friend I met here on facebook.

Had a bunch of money in bitcoin last year. I told him not to do it, but he sold it ALL.....for EOS.....

He held EOS for like 6 months from july 2020 till roughly late February of 2021(EOS price has barely grown 100% in 6 months which is terrible for a shitcoin).

Bitcoin hit $57K, he thought it was the top. Sold ALL his shitcoin EOS when bitcoin hit 49K during a brief dump. He thought bitcoin was "old and slow". I told him it was still the undisputed,uncontested king.

Then he REALLY FUCKED UP and shorted bitcoin at $47K......

Don't be like him, sell shitcoins, HODL Bitcoin. Don't short bitcoin.

A really unpleasant outcome and the end of the story for your friend. But like most comments here, I agree with two basic things:

1. Most people do not have patience or knowledge in the field and very often fuck up by selling or buying at the wrong time (or due to greed, I do not know).

2. And second, very few people take advice or are even willing to at least consider the advice they receive, they just ignore it.

Sithara007

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Leading Crypto Sports Betting & Casino Platform

Quote from: Sanugarid on April 04, 2021, 10:45:01 PM

Do not let your emotions take cover your decision. Sooner or later, you'll regret that decision you made. Well investing in ALTcoins is not a bad thing but the worst decision he made is selling all of his assets in BTC. Thank you for sharing your experience and I learned something from it.

This is what happens when people get greedy. It is true that some of the altcoins are going up very fast. I am talking about coins such as Ethereum, Binance Coin, Polkadot, Cardano.etc. There is a lot of hype around these coins. But the most important fact that everyone is ignoring is that out of the 10,000 plus altcoins, only a small fraction has gone up like this. The remaining coins are still stagnant or declining.

Ludmilla_rose1995

full member

Activity: 1638

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Buzz App - Spin wheel, farm rewards

Quote from: sherryDEFI on March 31, 2021, 02:06:47 AM

Friend I met here on facebook.

Had a bunch of money in bitcoin last year. I told him not to do it, but he sold it ALL.....for EOS.....

He held EOS for like 6 months from july 2020 till roughly late February of 2021(EOS price has barely grown 100% in 6 months which is terrible for a shitcoin).

Bitcoin hit $57K, he thought it was the top. Sold ALL his shitcoin EOS when bitcoin hit 49K during a brief dump. He thought bitcoin was "old and slow". I told him it was still the undisputed,uncontested king.

Then he REALLY FUCKED UP and shorted bitcoin at $47K......

Don't be like him, sell shitcoins, HODL Bitcoin. Don't short bitcoin.

Such people have no patience. but in my opinion, what he did was not wrong either. Because he had to make a profit. Some people are afraid that the price will go down so they choose to sell and buy back when the price drops. But unfortunately, bitcoin is not that easy to predict. When someone thinks bitcoin going down, they sell it.

JoMarrah Iarim Dan

sr. member

Activity: 644

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As of my experience it is better to hold bitcoin in the long time than other coins. I regret did not convert all my coins into bitcoin before because at end of 2018 I do not have time for my crypto things, I have left crypto for a while where all of my accounts even my wallet became inactive due to I have to prioritize things then when I decided to do cypto things again , some of my coins do not have value now, while some has a very small value. I have realized, if those coins were converted into bitcoin that early even though during those times it do not have a bigger value, for sure it has now.

Golftech

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Activity: 2128

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Quote from: peterpanda on April 04, 2021, 11:39:09 PM

Quote from: sherryDEFI on March 31, 2021, 02:06:47 AM

Friend I met here on facebook.

Had a bunch of money in bitcoin last year. I told him not to do it, but he sold it ALL.....for EOS.....

He held EOS for like 6 months from july 2020 till roughly late February of 2021(EOS price has barely grown 100% in 6 months which is terrible for a shitcoin).

Bitcoin hit $57K, he thought it was the top. Sold ALL his shitcoin EOS when bitcoin hit 49K during a brief dump. He thought bitcoin was "old and slow". I told him it was still the undisputed,uncontested king.

Then he REALLY FUCKED UP and shorted bitcoin at $47K......

Don't be like him, sell shitcoins, HODL Bitcoin. Don't short bitcoin.

Bitcoin is always king and we have to realize that. Selling bitcoin for other shitcoins isn't a good idea at all. We can sell shitcoins and buy more bitcoin to gain more profit. It is time to hold bitcoin and more good news are coming.

Unless you fully understand what you are doing then the chance of riding with the train is still possible,

but if not, better not to short Bitcoin as it will burned you due to volatility, it should take a lesson learn

from this OP's friend, trying to short without the patience to research first is to dangerous with your

investment, always bringhuge amount of patience when investing to this market.

Topic: I tried to tell him just HODL bitcoin, don't make this hard. (Read 806 times)