I tried to tell him just HODL bitcoin, don't make this hard. - page 2.

peterpanda

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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.

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.

Sanugarid

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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.

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.

rodskee

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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.

TheGreatPython

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

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.

That’s just how it is, lack of patience will always be ruining opportunities for a lot of people, if you can’t wait then you’re going to missing out on opportunities that will come later on.

This is the same problem that most people I know do have, when I tell them that they should invest in Bitcoin with any amount of money that they are going to afford to lose, they will always say that they can’t do that because they can’t afford to risk any money and are always expecting quick profit from any money that the are going to be investing in the crypto currency market. At the end when the market increases in value they will start regretting that they didn’t invest when I told them to invest, but still they will be scared of investing later. I don’t stress myself with such people.

Silberman

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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.

You did what you could so I hope you do not feel guilty about it because this is not your fault, at the end of the day people need to take their decisions on their own even if the decisions are mistaken, while I am really sorry about what happened to your friend stories like that are incredibly common, people somehow think that bitcoin can be easily replaced when this is not true, once a currency has a monopoly it is incredibly difficult to get it out of that position and when that form of money is still the best then that is basically impossible.

finaleshot2016

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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

ven7net

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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.

Indeed, Bitcoin in 2021 shows an excellent result, its price has already gone to the moon, but as you correctly noted, this is far from the limit. Analysts say that BTC has passed only one-fifth of its path in this growth cycle, which means that the price of BTC from the current values may still grow by 4-5 times by the end of this year. I agree that it is very difficult to keep your BTC and not sell it, but if you believe in success, then you need to find the strength in yourself and go this way to the end. I keep a little bit of BTC myself and regret not having bought more before.

Vishnu.Reang

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Quote from: Kelvinid on April 02, 2021, 07:49:30 AM

Quote from: Vishnu.Reang on April 02, 2021, 07:29:04 AM

I am hearing stories such as this one very frequently. A lot of those who invest in shitcoins such as DOGE, EOS, XRP and IOTA are newbies who don't do much research on their own. They solely depend on the social media to get their information, and this is where they get all wrong. There is a lot of propaganda in the social media sites in favor of shitcoins. Inexperienced people believe all of that and end up losing their money by investing in coins such as XRP.

They can't realize what they are doing if they will never experience regrets in their life.
We give a piece of advice to them and that it depends if they will put it in their mind or not. If they lose, we are also affected, right? They will get angry because we never convince them, we never tell them the truth.

That is why I'd never give any hint to any of my friends what coin we should have to invest in because I don't want to hold any responsibility if ever they lose. If they ask me, I answer what I have but not to say you have these coins also.

Yup. I would agree. Actually a lot of information is available in forums such as this one. But going through all these threads may take a lot of time and many of the newbs don't have patience for that. A lot of users who have lost their money in scam projects have posted about their experience here in Bitcointalk. But I don't know the reason why the newbs who believe in social media propaganda never takes these threads seriously.

Alucard1

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That is the common problem or situation that we may encounter for the beginners of the crypto world, some beginners choose to invest in shitcoins because they have seen the faster movement of the value of it compared to bitcoin. That is also what just happened to me before when I invested in tokens in the yobit invest box. I regret my decision of doing it because that token became a dead coin.

Patience is also important when investing in bitcoin, if you can't wait and you always have a doubt about bitcoin then you won't be a good investor. Patience is always the key plus the knowledge you also have.

Sithara007

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During the recent months, there have been a rise in altcoin market share. At one point, Bitcoin held up to 71% of the market share, and this has come down to 56%. That is a 15% reduction in a matter of few months. And most of it is being driven by a handful of altcoins, such as Polkadot, Binance Coin, Cardano and Ethereum. Also, need to mention USDT and the other "stablecoins", which together account for a considerable fraction of the cryptocurrency market cap nowadays.

newwest

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Quote from: Trinx01 on April 02, 2021, 02:23:30 AM

That is really a sad story for your friends, seeing your friend's loss is not a good thing, well that would happen to those beginners who don't even try to listen to their friends who have more knowledge in cryptocurrency than them. It is better if you are going to show him your success from investment so the next you give him advice he will trust you.

Good that my friends heard me before and on time only they invested in it and on the boom time some of them made money and existed some of their position by booking profits. But atleast they are now doing well and at times buy and sell accordingly which is good thing rather than just staying away from it.

pawanjain

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Nothing lasts forever

This is the thing with many people. They don't do any research and analysis on the market trend and just trade blindly.
This often leads to losses and then they complaint that the market always goes against them.
Although we have a good amount of data in the history for performing various analysis, people still just want to invest blindly in hope of good returns.

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Well, at least you have tried to stop him at all cost now it is his own fault to suffer the consequences of the things he have done in the past. It is such a great thing to have a friend like you that are willing to give advice for a friend specially with regards to crypto but it seems that your friend really lacks patience and just follow his guts. There is nothing wrong on selling but better think of it to just sell a percentage or a part and not to go all out. Also, instead of putting your Bitcoin in line of selling, better get rid of other cryptocurrencies that you think serves no purpose or will have no improvement and focus on dealing with Bitcoin and worthy altcoins in the market. Also, you must assess the scenario. Sometimes listening to an advice can really do help but still it is up to you to do your own decisions since you will be the one to prosper or suffer the results of it.

MoodyR

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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.

Oh yes.. I can't undertand too.

kokojie

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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.

0t3p0t

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Peace be with you!

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.

Yeah his choice made him cry for letting his Bitcoin go instead of holding it for long term but it is still his choice. Opportunity comes once when you lose it you'll never know when it will be back again. I actually once like your friend but I learned that my decission is stupid so if I had the change to invest again I will surely be buying Bitcoin.

bryant.coleman

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This is one of the reasons why I never recommend any cryptocurrency to my friends. Back in 2013 and 2014, I tried to convince my friends to make investment in cryptocurrency, but all of them ignored my advice. And now the cryptocurrency rally is there and everyone want my advice on which coin to make the investment in. I have told them that I don't want to give any recommendation. Let them learn the lesson themselves. Everyone want to become billionaires overnight and that's the reason why they are going for shitcoins. 2x or 3x return in a year from Bitcoin doesn't appeal to them.

Kelvinid

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win lambo...

Quote from: Vishnu.Reang on April 02, 2021, 07:29:04 AM

I am hearing stories such as this one very frequently. A lot of those who invest in shitcoins such as DOGE, EOS, XRP and IOTA are newbies who don't do much research on their own. They solely depend on the social media to get their information, and this is where they get all wrong. There is a lot of propaganda in the social media sites in favor of shitcoins. Inexperienced people believe all of that and end up losing their money by investing in coins such as XRP.

They can't realize what they are doing if they will never experience regrets in their life.
We give a piece of advice to them and that it depends if they will put it in their mind or not. If they lose, we are also affected, right? They will get angry because we never convince them, we never tell them the truth.

That is why I'd never give any hint to any of my friends what coin we should have to invest in because I don't want to hold any responsibility if ever they lose. If they ask me, I answer what I have but not to say you have these coins also.

Pandji02

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Damn what a story. I can not comprehend what was going on in his head. If he just sold BTC, but man....

Vishnu.Reang

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I am hearing stories such as this one very frequently. A lot of those who invest in shitcoins such as DOGE, EOS, XRP and IOTA are newbies who don't do much research on their own. They solely depend on the social media to get their information, and this is where they get all wrong. There is a lot of propaganda in the social media sites in favor of shitcoins. Inexperienced people believe all of that and end up losing their money by investing in coins such as XRP.

Topic: I tried to tell him just HODL bitcoin, don't make this hard. - page 2. (Read 806 times)