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nullama

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Quote from: n0ne on February 26, 2023, 06:28:38 PM

As every form of investment, bitcoin too have the risks associated with it. Apart, it is the volatility and the working mechanism makes the market highly riskier than the traditional forms of investment. Next thing with stock market users have better knowledge and they easily predict the growth pattern of the market. This isn't possible with bitcoin. Likewise many factors keep bitcoin aside from the traditional market. For that reason it is really a must to learn before making your footsteps into bitcoin.

At the end of the day Bitcoin is simply a savings account, with the added benefit that there's no inflation affecting it.

So, instead of worrying too much about the price, it's probably a good idea to just save in Bitcoin for the long term.

RenaldoCusmano

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Quote from: Crypt0Gore on February 14, 2023, 01:31:59 PM

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

If you do this weekly or monthly you won't feel any pressure, always remember that health is wealth.

You don't have to lend him money, and you're not accountable for his conduct. You could also think of them as lost if you do that. You cautioned him against blowing through his savings and getting a loan, but he opted to disregard your advice. I'm confident that your acquaintance is not the only one who has gotten himself into such a predicament because we've already seen a lot of discussions discussing if taking out a loan to acquire Bitcoin is a good idea or not. Never invest more money than you can afford to lose, and never assume anything. You might lose your job, be forced to take a reduction in pay, have your paycheck delayed, or go through anything else you can't currently fathom.

n0ne

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As every form of investment, bitcoin too have the risks associated with it. Apart, it is the volatility and the working mechanism makes the market highly riskier than the traditional forms of investment. Next thing with stock market users have better knowledge and they easily predict the growth pattern of the market. This isn't possible with bitcoin. Likewise many factors keep bitcoin aside from the traditional market. For that reason it is really a must to learn before making your footsteps into bitcoin.

danadc

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Quote from: MoonOfLife on February 20, 2023, 08:17:45 AM

Quote from: molsewid on February 19, 2023, 05:58:05 PM

Quote from: Crypt0Gore on February 14, 2023, 01:31:59 PM

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

If you do this weekly or monthly you won't feel any pressure, always remember that health is wealth.

The thing is I think he invested in a scam, I mean in an MLM where they promise him that in small span of time his money maybe in bitcoin type will increase maybe about 2x or 3x, some other people who are new to crypto still believes in this thing, I wonder why he didn't ask you before. And I think the only way 6ou may able to help him is teach him that not all projects, ads or investments using the word bitcoin is true and he will get things so quick. It is kinda hard to be in that situation but eventually he will pass through it.

We don't need to know if OP's friend invested in bitcoin or a scam MLM project, but we shouldn't invest with all our savings either. Even if it is bitcoin, it is no guarantee that his money will not be lost, bitcoin is also risky. OP's reminder is very true no matter where we invest but never invest all your money, it is wrong and not recommended.

It is a pity that things went wrong for having lent and not having been able to pay on time, but the mistake was that he said he was going to pay in 1 month and that was very bad, if he is going to pay money The market should not be trusted due to such high volatility. The best thing would have been to have established a loan with better payment options in installments. Payments in weekly installments are a better option so as not to allow all the money to accumulate for one payment, if establishes a weekly payment forces the person to have to look for payment in any way so as not to fail.

borovichok

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Quote from: FanEagle on February 23, 2023, 06:16:00 AM

I agree that learning from your past mistakes and not repeating them is the only way to move forward. If you make a mistake and move away from it and never try again, then you didn't actually profited from that loss, it is just a pure loss and it's a bad thing.

In order to make that count for something, you should be aware of the situation you were in, why you made a loss, and try again while not making the same mistake again. This way, at least your mistake didn't go for waste, you did it once and if you don't repeat it then it's a good thing for your future, you could recoup that loss and do better. That's at least what I believe should be the path moving forward better.

By understanding the factors that led to loss and the solutions intended to prevent such errors, one can minimize errors to their lowest rate possible. Creating sound strategies to expand in terms of handling projects, identifying the road maps for each project prior to investment or effective implementation. Although if mistakes are unavoidable, there is always an opportunity to learn from them and become stronger than before. The past hurts, especially when one loses significant assets due to bear season, therefore it's important to compare your mistakes to the present in order to make improvements and the potential for greater earnings.

FanEagle

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I agree that learning from your past mistakes and not repeating them is the only way to move forward. If you make a mistake and move away from it and never try again, then you didn't actually profited from that loss, it is just a pure loss and it's a bad thing.

In order to make that count for something, you should be aware of the situation you were in, why you made a loss, and try again while not making the same mistake again. This way, at least your mistake didn't go for waste, you did it once and if you don't repeat it then it's a good thing for your future, you could recoup that loss and do better. That's at least what I believe should be the path moving forward better.

Fara Chan

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Quote from: Mahanton on February 21, 2023, 05:59:22 PM

Quote from: Fara Chan on February 21, 2023, 05:45:30 PM

Some people don't understand what exactly is said about Investing in Crypto, but what your friend is doing is not a wise move, using all the money and including a loan in investing in Crypto this is a bad job and even very ineffective to do, we can said he is greedy here, this is one very bad example in Crypto investment, I think your friend does not fully understand the words that people often say "What investment will you be able to afford to lose" in the sense of being prepared to lose in the event of a crash or error .

When you are a complete noob and seen someone who do make huge or lots of profits then you would definitely doing the next move;

1. Tend to buy some crypto
2. Trade immediately or Invest
3. Going all in
4. Believing and waiting that they could be rich overnight.

This is the primary or common mistake when we are still a noob but sooner or later you would realize on whats the real deal within this market.

Yes of course that kind of thing will happen, when you see someone succeeding in their work people will tend to do it, especially in this crypto section, so many people flock to have crypto assets and are looking for more here, but behind all this of course there are those who follow him by having bad ambitions for the future, in the sense that they are greedy to have them so that they believe they will be rich in an instant, this includes bad ambitions.

Quote from: Charmekkd on February 21, 2023, 08:11:03 PM

Indeed, around us, sometimes there are always people like that, namely investing with capital from loans, which of course is not a profit that can be obtained, but a loss that can be obtained.

Those who jump into the world of cryptocurrencies to invest using loans, I think this is not very good, what I understand about this is that they are just in a state of uncertain ambition, they even forget what it means to fully invest in cryptocurrencies, using a loan to invest is divided into two, the first is that it is likely that he will find it difficult to repay the loan, and if it succeeds, it will benefit him imperfectly, but this is very risky compared to investments made by people in general.

Bazzu

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Yes, this is an example for people who invest using borrowed money, because after all, the borrowed money will not be comfortable to use either.
but I suggest to you OP to cheer up your friend so he gets excited again, and make an example of what happened for him so he doesn't repeat it again.

Indeed, many investments with money from loans have succeeded, but many have failed.

Charmekkd

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Indeed, around us, sometimes there are always people like that, namely investing with capital from loans, which of course is not a profit that can be obtained, but a loss that can be obtained.

Your post is an example for us so that we don't follow in the footsteps of your friend you who is too hasty in taking action to invest even though the investment must be with idle capital so that it is more comfortable when investing.

but you are very kind because you have helped your friend who is sad ... don't forget you have to remind him so he doesn't make mistakes again like he did.

Fatunad

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Quote from: akuntester1 on February 21, 2023, 06:46:37 PM

Quote from: Crypt0Gore on February 14, 2023, 01:31:59 PM

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

If you do this weekly or monthly you won't feel any pressure, always remember that health is wealth.

Taking big risks sometimes will bring big profits too if the calculations are right and accompanied by luck.
But I think what your friend did was purely blinded by greed.
People who take high risks are likely to still have a backup plan if the decision fails to reach.
I don't know or maybe your friend is in a very depressed mental state so just put all the money in and apply for a loan to invest in Bitcoin like that.
Forgive me in advance, I don't mean to insult or condescending your friend OP.
I will use this again and again to remind myself to be able to manage my emotions, make clear plans and not be blinded by greed when investing in crypto.
You are a good person OP, you take care of your friends like your own siblings.

Rewards would always reflect out on how much you had risks out and we know that each person does have their own level of risk taking.It is really just true that you would be needing to set up limitations on whatever you are dealing with specially if in talks of money or investment. Always set out limits and border line on which you could only afford to lose. There's no assurance on making profits here on crypto space.
It is really just that there are people who arent really just good on their emotions and this is why they do really end up impulsive when it comes into their decisions.

akuntester1

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Quote from: Crypt0Gore on February 14, 2023, 01:31:59 PM

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

If you do this weekly or monthly you won't feel any pressure, always remember that health is wealth.

Taking big risks sometimes will bring big profits too if the calculations are right and accompanied by luck.
But I think what your friend did was purely blinded by greed.
People who take high risks are likely to still have a backup plan if the decision fails to reach.
I don't know or maybe your friend is in a very depressed mental state so just put all the money in and apply for a loan to invest in Bitcoin like that.
Forgive me in advance, I don't mean to insult or condescending your friend OP.
I will use this again and again to remind myself to be able to manage my emotions, make clear plans and not be blinded by greed when investing in crypto.
You are a good person OP, you take care of your friends like your own siblings.

Mahanton

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Quote from: Fara Chan on February 21, 2023, 05:45:30 PM

Some people don't understand what exactly is said about Investing in Crypto, but what your friend is doing is not a wise move, using all the money and including a loan in investing in Crypto this is a bad job and even very ineffective to do, we can said he is greedy here, this is one very bad example in Crypto investment, I think your friend does not fully understand the words that people often say "What investment will you be able to afford to lose" in the sense of being prepared to lose in the event of a crash or error .

When you are a complete noob and seen someone who do make huge or lots of profits then you would definitely doing the next move;

1. Tend to buy some crypto
2. Trade immediately or Invest
3. Going all in
4. Believing and waiting that they could be rich overnight.

This is the primary or common mistake when we are still a noob but sooner or later you would realize on whats the real deal within this market.

Fara Chan

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Some people don't understand what exactly is said about Investing in Crypto, but what your friend is doing is not a wise move, using all the money and including a loan in investing in Crypto this is a bad job and even very ineffective to do, we can said he is greedy here, this is one very bad example in Crypto investment, I think your friend does not fully understand the words that people often say "What investment will you be able to afford to lose" in the sense of being prepared to lose in the event of a crash or error .

Fivestar4everMVP

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Quote from: Godday on February 21, 2023, 11:55:20 AM

This is great advice for beginners in the world of investing. Currently, I have found many of my investor friends who have experienced losses in stock or crypto trading. Perhaps this is because they have been influenced by their fellow leaders who make many promises of profit. They have told many good things about an investment but they have forgotten to tell about the risks they will face in the world of stock or crypto trading. I think it's good for new investors to continue to learn from old investors who have learned a lot in the world of trading.

You are not so far from the truth, there are many who start off with the wrong mindset, and this is as a result of wrong sensitization from those who introduced them to bitcoin and crypto, I have come across some people who buy bitcoin and expect to make millions from it in a week or even lesser, other go on buying random shitcoins believing it could pump so hard in a day or two so they could make alot of money, then withdraw and move on to the next, but sooner that they expected, they are hit with the reality that bitcoin, or crypto in general, is not a get rich quick scheme, many end up giving up, but those who are patient enough to wait, and build themselves as they wait, end up benefiting greatly.

Smartprofit

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Quote from: Crypt0Gore on February 14, 2023, 01:31:59 PM

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

If you do this weekly or monthly you won't feel any pressure, always remember that health is wealth.

Yes, in my opinion, your friend did something rash.

He is wrong if he thinks that bitcoin can rise significantly in price suddenly in 1 month in a bear market. It's possible, but unlikely.

However, it is possible that this story will have a happy ending. Yes, given the current situation, your friend will have a hard time. However, bitcoin is a very promising deflationary asset. The price of bitcoin will certainly increase significantly in the future.

If your friend manages to solve current problems, such as finding a part-time job to pay off a loan and pay current expenses, then in the future he can hit a big jackpot when the price of bitcoin reaches a new high.

Wiwo

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Quote from: kelechi on February 21, 2023, 04:49:54 AM

Quote from: Wiwo on February 19, 2023, 06:12:39 PM

()

Actually it is harder to make them understand it is a scam and they should not "invest" more

When scammers get a hold on someone they are sometimes uncontrollable until they are 100% scammed then their eyes will open, I don't believe in any cryptocurrency business or investment that has to do with third-party involvement because bitcoin is designed to eliminate their party system that has been a proven scam any time.
-It is better to build your knowledge and skills, to be able to carry out every activity that you think is profiting in bitcoin rather than letting another person do that for you.

Mate2237

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Is it that the bitcoin that he invested in was also lost? If not why worry and and you are saying he so poor. I never get your point very well. Greedy? How? For investing in bitcoin is a nice investment and he will never regret in it. The only area I will consider is the area the salary was not paid to settle the loan and the interest is rising every day, week or month all depends on the agreement between the two parties. Since he is your friend and you know that definitely he will make profit from the bitcoin investment, and also to stop the rising of the interest rate, I advise you to help him to pay the loan.

Taking loan to invest in bitcoin is not good but he has done it so the next thing now is to find solution which can solve it.

Godday

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This is great advice for beginners in the world of investing. Currently, I have found many of my investor friends who have experienced losses in stock or crypto trading. Perhaps this is because they have been influenced by their fellow leaders who make many promises of profit. They have told many good things about an investment but they have forgotten to tell about the risks they will face in the world of stock or crypto trading. I think it's good for new investors to continue to learn from old investors who have learned a lot in the world of trading.

Mr.corol

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Quote from: Crypt0Gore on February 14, 2023, 01:31:59 PM

Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

If you do this weekly or monthly you won't feel any pressure, always remember that health is wealth.

In my opinion, if he had invested some of his money in Bitcoin, he wouldn't be so poor. But because of his mistake he is destitute today. We must be careful not to make the same mistake as this brother. None of us will invest in Bitcoin beyond our means.

But when the brother is absolutely destitute. If only I had such resources and qualifications. Then I would have helped that brother a little. I pray that he can quickly return to his previous position.

fadhilz123

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Quote from: MoonOfLife on February 20, 2023, 08:17:45 AM

We don't need to know if OP's friend invested in bitcoin or a scam MLM project, but we shouldn't invest with all our savings either. Even if it is bitcoin, it is no guarantee that his money will not be lost, bitcoin is also risky. OP's reminder is very true no matter where we invest but never invest all your money, it is wrong and not recommended.

Most of these investors are people with very mature and mature minds, so they can certainly manage their own assets very well. And in terms of investing, it is not recommended to be too forced because everyone has necessities of life that must always be taken care of as well, so you need to set aside money for this besides investing in the hope of future profits.

Well, in this case it is very important to make a selection of the funds to be used and that includes for investment because after everything is arranged very well and seeing that there are excess funds to make investments, that's where the decision to invest is made appropriately. Not when you have money to make an investment and the next day you have to endure hunger.

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