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Topic: Know your limit - page 2. (Read 880 times)

hero member
Activity: 980
Merit: 947
February 21, 2023, 08:32:04 AM
One of the things that people fall for the most is the ponzi scheme, they may not believe in Bitcoin but if they are offered a ponzi scheme with Bitcoin they will take it because they talk about profits in a short time, and it is impossible for anyone to enter a scheme With 10usd I left in 4 weeks with 1500 dollars, that was done in my country and people got involved as if it were the only thing that existed to earn money and for some it did not end well because when it comes to money things can get out of control, Not everyone reacts the same when it comes to money being taken from them.

Well, if there is an understanding where you carry your money, and even more so when you know that this is a financial pyramid, then what can be the claims? In this case, you need to be prepared to be left without money.

Even when it comes to investing in bitcoin, there is a lot of talk about investing only the amount you are willing to lose. It doesn't have to be this way, but it's like a warning that this is an investment with a lot of risk. And this is even more true for everything else, all other tokens except for bitcoin, which carry even much greater risks.

Investments must be diversified, this will protect you. If you nevertheless place more emphasis on some direction, then this is only under your responsibility. Most of my investments are in bitcoin, but I understand what I'm doing.
legendary
Activity: 2758
Merit: 1004
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February 21, 2023, 05:03:40 AM
The risk of an all-in investment is something like this. the bad thing is that he doesn't even invest what he has, he dares to borrow money to invest in crypto. well, I feel it was a bad decision. even more so if he does not guarantee that the place of investment is a legit place. I'm curious, where did he invest, what was the price of the bitcoin he bought, and what was the promised payment amount?

However, investing in crypto is something that can be very profitable, but we need to be aware of the risks. There's been a lot of advice given not to use the money you're currently using, and to use money that doesn't affect your life. However, many people are willing to take risks when they hear other people's success stories. well, it doesn't matter to people who are ready to take the risk. but when something like this happens, I think a lot of people are not ready. However, this is a lesson for all of us not to rush into decisions. I can only feel sorry for what happened to your friend.
newbie
Activity: 72
Merit: 0
February 21, 2023, 04:49:54 AM
Don't call your friend a Bitcoin investor as he has possibly invested in one of those online Bitcoin scam projects who is Ponzi that lures and scams their victims using bitcoin.
-The same thing can happen through the fiat dollars and the rest of the other paper currencies so it is not only peculiar to Bitcoin alone.
-Because there is no way your friend will lose holding Bitcoin,  and from the look of things your friend does not have basic knowledge of bitcoin and investment.
-And even you seem not to also be knowledgeable enough to educate your friend at this point, so this is going to be a long walk for both of you of am to advise, I will say you should avoid the Ponzi scheme and all the other investments because 99.9% of them are scam.


Actually it is harder to make them understand it is scamm and they should not "invest" more
sr. member
Activity: 1092
Merit: 342
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February 20, 2023, 12:04:31 PM
Don't call your friend a Bitcoin investor as he has possibly invested in one of those online Bitcoin scam projects who is Ponzi that lures and scams their victims using bitcoin.
-The same thing can happen through the fiat dollars and the rest of the other paper currencies so it is not only peculiar to Bitcoin alone.
-Because there is no way your friend will lose holding Bitcoin,  and from the look of things your friend does not have basic knowledge of bitcoin and investment.
-And even you seem not to also be knowledgeable enough to educate your friend at this point, so this is going to be a long walk for both of you of am to advise, I will say you should avoid the Ponzi scheme and all the other investments because 99.9% of them are scam.

One of the things that people fall for the most is the ponzi scheme, they may not believe in Bitcoin but if they are offered a ponzi scheme with Bitcoin they will take it because they talk about profits in a short time, and it is impossible for anyone to enter a scheme With 10usd I left in 4 weeks with 1500 dollars, that was done in my country and people got involved as if it were the only thing that existed to earn money and for some it did not end well because when it comes to money things can get out of control, Not everyone reacts the same when it comes to money being taken from them.
hero member
Activity: 1470
Merit: 790
ARTS & Crypto
February 20, 2023, 10:09:19 AM
Anyone who invested with all his savings is just like playing a game of probability, is either you gain or you lose. And family pressure may not give you that opportunity to freely invest all your live savings or indulging scheme where you would want to borrow money for investment.

I would say it's a kind of gambling. You really don't have to invest all your savings on something. No matter how strong the project is or how confident you are. Invest on internet if you can afford to lose. Bitcoin will give you a good return in a long time period. I really believe that. But, you have to wait for a good time. I won't suggest anyone to invest somewhere by taking loan.

Exactly, people fails to understand this aspect of the principle, coupled with investing on altcoin thinking they are expanding their portfolio. Although it's good not to put all eggs in one basket because you never can tell what would happen next after investment. Apart from bitcoin, I would rather borrowed money to invest in real life properties such as; Land, Housing and partnering with some famous company ect.

Before the economic crisis of 2007-2008, real estate was a profitable investment, a 100% success option. Now, if we consider portfolio diversification, then I would think well, consider it as one of the points of deposit distribution. Altcoins are a good solution for diversification. The fact is that altcoins are a great variety, and you should invest only in proven ones. Since new altcoins in the majority are a huge risk of stumbling upon deception. In addition to diversification through a variety of coins, I would consider diversification through earning methods - PoS, DeFi, etc.

Who told you that investing in altcoins is diversification? Diversification means investing in assets other than cryptocurrencies because the entire crypto market depends only on bitcoin, assuming bitcoin disappears, no altcoins can exist. So investing in altcoins is not called diversification. Invest in gold, real estate...

The concept of portfolio diversification through altcoins is constantly encountered - ask Google.
You understood everything correctly, but at the moment all the alcoins depend on bitcoin, but this is only because everyone believes in the classics, Bitcoin. How many times have there been articles about new altcoins that called these new concepts the Death of Bitcoin? And for good reason. No one could and cannot say - will there be a blockchain so perfect tomorrow that bitcoin will become just a classic, the first coin having an unnecessary slow blockchain?
Why do you invest with your money and you go ask google? You don't trust your knowledge? When the crypto market works like the stock market, i.e. the tokens work independently without being too dependent on a certain coin, then I think investing in altcoins is called diversified. But nowadays, altcoins' life and death completely depend on bitcoin, so it is wrong to say that investing in altcoins is diversification.

And you are not interested in other opinions, but always insist only on your own? For a long time there has been a tendency to weaken the dependence of the price of Altcoins on Bitcoin. Read about the Pearson coefficient for Altcoins and BTC. And also the correlation betwwen BTC with Solana.
And doesn't it seem strange to you that Bitcoin with an outdated blockchain will always be the central cryptocurrency?
sr. member
Activity: 714
Merit: 253
February 20, 2023, 08:17:45 AM
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.
legendary
Activity: 1176
Merit: 1005
crunck
February 20, 2023, 07:56:05 AM
Anyone who invested with all his savings is just like playing a game of probability, is either you gain or you lose. And family pressure may not give you that opportunity to freely invest all your live savings or indulging scheme where you would want to borrow money for investment.

I would say it's a kind of gambling. You really don't have to invest all your savings on something. No matter how strong the project is or how confident you are. Invest on internet if you can afford to lose. Bitcoin will give you a good return in a long time period. I really believe that. But, you have to wait for a good time. I won't suggest anyone to invest somewhere by taking loan.

Exactly, people fails to understand this aspect of the principle, coupled with investing on altcoin thinking they are expanding their portfolio. Although it's good not to put all eggs in one basket because you never can tell what would happen next after investment. Apart from bitcoin, I would rather borrowed money to invest in real life properties such as; Land, Housing and partnering with some famous company ect.

Before the economic crisis of 2007-2008, real estate was a profitable investment, a 100% success option. Now, if we consider portfolio diversification, then I would think well, consider it as one of the points of deposit distribution. Altcoins are a good solution for diversification. The fact is that altcoins are a great variety, and you should invest only in proven ones. Since new altcoins in the majority are a huge risk of stumbling upon deception. In addition to diversification through a variety of coins, I would consider diversification through earning methods - PoS, DeFi, etc.

Who told you that investing in altcoins is diversification? Diversification means investing in assets other than cryptocurrencies because the entire crypto market depends only on bitcoin, assuming bitcoin disappears, no altcoins can exist. So investing in altcoins is not called diversification. Invest in gold, real estate...

The concept of portfolio diversification through altcoins is constantly encountered - ask Google.
You understood everything correctly, but at the moment all the alcoins depend on bitcoin, but this is only because everyone believes in the classics, Bitcoin. How many times have there been articles about new altcoins that called these new concepts the Death of Bitcoin? And for good reason. No one could and cannot say - will there be a blockchain so perfect tomorrow that bitcoin will become just a classic, the first coin having an unnecessary slow blockchain?
Why do you invest with your money and you go ask google? You don't trust your knowledge? When the crypto market works like the stock market, i.e. the tokens work independently without being too dependent on a certain coin, then I think investing in altcoins is called diversified. But nowadays, altcoins' life and death completely depend on bitcoin, so it is wrong to say that investing in altcoins is diversification.
hero member
Activity: 1260
Merit: 765
Top Crypto Casino
February 19, 2023, 06:12:39 PM
Don't call your friend a Bitcoin investor as he has possibly invested in one of those online Bitcoin scam projects who is Ponzi that lures and scams their victims using bitcoin.
-The same thing can happen through the fiat dollars and the rest of the other paper currencies so it is not only peculiar to Bitcoin alone.
-Because there is no way your friend will lose holding Bitcoin,  and from the look of things your friend does not have basic knowledge of bitcoin and investment.
-And even you seem not to also be knowledgeable enough to educate your friend at this point, so this is going to be a long walk for both of you of am to advise, I will say you should avoid the Ponzi scheme and all the other investments because 99.9% of them are scam.
hero member
Activity: 2170
Merit: 530
February 19, 2023, 05:58:05 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.
hero member
Activity: 1428
Merit: 653
Leading Crypto Sports Betting & Casino Platform
February 19, 2023, 04:36:43 PM
Anyone who invested with all his savings is just like playing a game of probability, is either you gain or you lose. And family pressure may not give you that opportunity to freely invest all your live savings or indulging scheme where you would want to borrow money for investment.

I would say it's a kind of gambling. You really don't have to invest all your savings on something. No matter how strong the project is or how confident you are. Invest on internet if you can afford to lose. Bitcoin will give you a good return in a long time period. I really believe that. But, you have to wait for a good time. I won't suggest anyone to invest somewhere by taking loan.

Exactly, people fails to understand this aspect of the principle, coupled with investing on altcoin thinking they are expanding their portfolio. Although it's good not to put all eggs in one basket because you never can tell what would happen next after investment. Apart from bitcoin, I would rather borrowed money to invest in real life properties such as; Land, Housing and partnering with some famous company ect.

Before the economic crisis of 2007-2008, real estate was a profitable investment, a 100% success option. Now, if we consider portfolio diversification, then I would think well, consider it as one of the points of deposit distribution. Altcoins are a good solution for diversification. The fact is that altcoins are a great variety, and you should invest only in proven ones. Since new altcoins in the majority are a huge risk of stumbling upon deception. In addition to diversification through a variety of coins, I would consider diversification through earning methods - PoS, DeFi, etc.

Who told you that investing in altcoins is diversification? Diversification means investing in assets other than cryptocurrencies because the entire crypto market depends only on bitcoin, assuming bitcoin disappears, no altcoins can exist. So investing in altcoins is not called diversification. Invest in gold, real estate...

Well I don't know of you, others may sees it as a diversification, I don't support investing in an altcoin as it's more riskier to lose all your investment. Now lemme carefully explain what those projects owners does, they creates some token and promised what they can't even offer to investors in the name of concept and ended up deceiving you collecting your heart earn Eth, BNB, usdt and BTC. It's better to avoid them that waste your funds.
hero member
Activity: 1470
Merit: 790
ARTS & Crypto
February 19, 2023, 02:21:48 PM
Anyone who invested with all his savings is just like playing a game of probability, is either you gain or you lose. And family pressure may not give you that opportunity to freely invest all your live savings or indulging scheme where you would want to borrow money for investment.

I would say it's a kind of gambling. You really don't have to invest all your savings on something. No matter how strong the project is or how confident you are. Invest on internet if you can afford to lose. Bitcoin will give you a good return in a long time period. I really believe that. But, you have to wait for a good time. I won't suggest anyone to invest somewhere by taking loan.

Exactly, people fails to understand this aspect of the principle, coupled with investing on altcoin thinking they are expanding their portfolio. Although it's good not to put all eggs in one basket because you never can tell what would happen next after investment. Apart from bitcoin, I would rather borrowed money to invest in real life properties such as; Land, Housing and partnering with some famous company ect.

Before the economic crisis of 2007-2008, real estate was a profitable investment, a 100% success option. Now, if we consider portfolio diversification, then I would think well, consider it as one of the points of deposit distribution. Altcoins are a good solution for diversification. The fact is that altcoins are a great variety, and you should invest only in proven ones. Since new altcoins in the majority are a huge risk of stumbling upon deception. In addition to diversification through a variety of coins, I would consider diversification through earning methods - PoS, DeFi, etc.

Who told you that investing in altcoins is diversification? Diversification means investing in assets other than cryptocurrencies because the entire crypto market depends only on bitcoin, assuming bitcoin disappears, no altcoins can exist. So investing in altcoins is not called diversification. Invest in gold, real estate...

The concept of portfolio diversification through altcoins is constantly encountered - ask Google.
You understood everything correctly, but at the moment all the alcoins depend on bitcoin, but this is only because everyone believes in the classics, Bitcoin. How many times have there been articles about new altcoins that called these new concepts the Death of Bitcoin? And for good reason. No one could and cannot say - will there be a blockchain so perfect tomorrow that bitcoin will become just a classic, the first coin having an unnecessary slow blockchain?
hero member
Activity: 1316
Merit: 787
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February 19, 2023, 06:12:22 AM
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.
The economic system prioritizes good management, including investing. Investment is a good step in organizing future finances.
I think you need to explain to him that this is not the style of investing. Even a small amount invested gradually is better than forcing yourself to ask others for loans.

It is not okay to take all the money to invest in Bitcoin as long as there are other savings to cover the daily needs of the family for those who already have children and wife. But as long as that is not fulfilled, then it is better for your friend not to force himself to do it because the market is very volatile.
legendary
Activity: 1176
Merit: 1005
crunck
February 19, 2023, 05:24:32 AM
Anyone who invested with all his savings is just like playing a game of probability, is either you gain or you lose. And family pressure may not give you that opportunity to freely invest all your live savings or indulging scheme where you would want to borrow money for investment.

I would say it's a kind of gambling. You really don't have to invest all your savings on something. No matter how strong the project is or how confident you are. Invest on internet if you can afford to lose. Bitcoin will give you a good return in a long time period. I really believe that. But, you have to wait for a good time. I won't suggest anyone to invest somewhere by taking loan.

Exactly, people fails to understand this aspect of the principle, coupled with investing on altcoin thinking they are expanding their portfolio. Although it's good not to put all eggs in one basket because you never can tell what would happen next after investment. Apart from bitcoin, I would rather borrowed money to invest in real life properties such as; Land, Housing and partnering with some famous company ect.

Before the economic crisis of 2007-2008, real estate was a profitable investment, a 100% success option. Now, if we consider portfolio diversification, then I would think well, consider it as one of the points of deposit distribution. Altcoins are a good solution for diversification. The fact is that altcoins are a great variety, and you should invest only in proven ones. Since new altcoins in the majority are a huge risk of stumbling upon deception. In addition to diversification through a variety of coins, I would consider diversification through earning methods - PoS, DeFi, etc.

Who told you that investing in altcoins is diversification? Diversification means investing in assets other than cryptocurrencies because the entire crypto market depends only on bitcoin, assuming bitcoin disappears, no altcoins can exist. So investing in altcoins is not called diversification. Invest in gold, real estate...
hero member
Activity: 1470
Merit: 790
ARTS & Crypto
February 19, 2023, 05:08:24 AM
Anyone who invested with all his savings is just like playing a game of probability, is either you gain or you lose. And family pressure may not give you that opportunity to freely invest all your live savings or indulging scheme where you would want to borrow money for investment.

I would say it's a kind of gambling. You really don't have to invest all your savings on something. No matter how strong the project is or how confident you are. Invest on internet if you can afford to lose. Bitcoin will give you a good return in a long time period. I really believe that. But, you have to wait for a good time. I won't suggest anyone to invest somewhere by taking loan.

Exactly, people fails to understand this aspect of the principle, coupled with investing on altcoin thinking they are expanding their portfolio. Although it's good not to put all eggs in one basket because you never can tell what would happen next after investment. Apart from bitcoin, I would rather borrowed money to invest in real life properties such as; Land, Housing and partnering with some famous company ect.

Before the economic crisis of 2007-2008, real estate was a profitable investment, a 100% success option. Now, if we consider portfolio diversification, then I would think well, consider it as one of the points of deposit distribution. Altcoins are a good solution for diversification. The fact is that altcoins are a great variety, and you should invest only in proven ones. Since new altcoins in the majority are a huge risk of stumbling upon deception. In addition to diversification through a variety of coins, I would consider diversification through earning methods - PoS, DeFi, etc.
jr. member
Activity: 74
Merit: 1
February 19, 2023, 04:29:48 AM
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.

I know that he is your friend, but you have to set limits as well. I don't know if your friend knows the old adage in bitcoin invest,

"Invest what you can afford to lose".

If not then you have to remind him that. But if you want to stick with him, it's up to you, but you should advise him on what to do and not just rely on your good deeds as a friend, just saying.

These words are the best. Some people do not understand risk following after little possibility of success
hero member
Activity: 1428
Merit: 653
Leading Crypto Sports Betting & Casino Platform
February 18, 2023, 05:08:09 AM
Anyone who invested with all his savings is just like playing a game of probability, is either you gain or you lose. And family pressure may not give you that opportunity to freely invest all your live savings or indulging scheme where you would want to borrow money for investment.

I would say it's a kind of gambling. You really don't have to invest all your savings on something. No matter how strong the project is or how confident you are. Invest on internet if you can afford to lose. Bitcoin will give you a good return in a long time period. I really believe that. But, you have to wait for a good time. I won't suggest anyone to invest somewhere by taking loan.

Exactly, people fails to understand this aspect of the principle, coupled with investing on altcoin thinking they are expanding their portfolio. Although it's good not to put all eggs in one basket because you never can tell what would happen next after investment. Apart from bitcoin, I would rather borrowed money to invest in real life properties such as; Land, Housing and partnering with some famous company ect.
sr. member
Activity: 1362
Merit: 258
Vave.com - Crypto Casino
February 18, 2023, 02:56:53 AM
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.



a very big mistake for this if investing by making a loan. because as we know bitcoin is not an investment that can make you rich in 1 month if market conditions are not friendly, if people benefit from investing in bitcoin they have been hoarding it for a long time, right just made a purchase when bitcoin is in hype
I can't stop thinking about your friend's behavior
sr. member
Activity: 1400
Merit: 420
February 18, 2023, 02:45:47 AM
OP you can’t be responsible for your friends decisions. We are all adults here & we are responsible for our own financial decisions. Some people just can’t control themselves but that is not our responsibility. Bitcoin is the best performing asset of the last 10-15 years, anybody with half a brain & an ounce of patience can make good profits by simply holding for a few years.
No one will ever take the financial responsibility of someone else be it a friend or your brother. So always think about any investment or expenses according to your ability.  If he thinks more than his ability, he will never be successful.  The opposite will be in danger. I must think about my ability before doing anything and I will not accept anyone else's advice or decision blindly
Yes, I also think that before we invest, we should think our own thoughts and then invest. And if we don't do that, we have a big chance of losing money. But I have found that if we start trading on our own in the first place, we will make some money first.  If you lose, you can learn a lot from it later and there is no chance to lose any more money.
I somewhat agree with you that if you invest somewhere and lose, you can learn something good and realize what you did wrong and become an expert yourself, but if you depend on others, it will only make you a temporary mine. but you can't learn from here and all the time you'll be another's exile. So always keep in mind that my motivation should not be how much someone else has invested but how much I can invest should be my motivation.
Mistakes will never teach you anything new if you don't try to find them. You must be passionate about learning something new or becoming an expert on something. a lot can be learned from being dependent on others and from advice from others, but in that case, after getting someone's advice, you need to do a good research on why he gave that advice. but don't waste time researching advice that you don't have the ability to implement. always focus more on things that you can implement or succeed in. that is the point
hero member
Activity: 1008
Merit: 960
February 18, 2023, 02:07:27 AM
OP you can’t be responsible for your friends decisions. We are all adults here & we are responsible for our own financial decisions. Some people just can’t control themselves but that is not our responsibility. Bitcoin is the best performing asset of the last 10-15 years, anybody with half a brain & an ounce of patience can make good profits by simply holding for a few years.

I don’t have any sympathy for people who start taking loans & pawning out their belongings. This kind of ehavioyr is not required to do well in bitcoin.

Yeah, getting into debt to buy assets is not really the best way of doing it.

Debt should be avoided at all costs, because whoever you have that debt with, controls you.

With Bitcoin, you're free. There are no masters. It's something so new that many people don't get it.
hero member
Activity: 1484
Merit: 608
Vave.com - Crypto Casino
February 18, 2023, 02:03:52 AM
OP you can’t be responsible for your friends decisions. We are all adults here & we are responsible for our own financial decisions. Some people just can’t control themselves but that is not our responsibility. Bitcoin is the best performing asset of the last 10-15 years, anybody with half a brain & an ounce of patience can make good profits by simply holding for a few years.
No one will ever take the financial responsibility of someone else be it a friend or your brother. So always think about any investment or expenses according to your ability.  If he thinks more than his ability, he will never be successful.  The opposite will be in danger. I must think about my ability before doing anything and I will not accept anyone else's advice or decision blindly
Yes, I also think that before we invest, we should think our own thoughts and then invest. And if we don't do that, we have a big chance of losing money. But I have found that if we start trading on our own in the first place, we will make some money first.  If you lose, you can learn a lot from it later and there is no chance to lose any more money.
I somewhat agree with you that if you invest somewhere and lose, you can learn something good and realize what you did wrong and become an expert yourself, but if you depend on others, it will only make you a temporary mine. but you can't learn from here and all the time you'll be another's exile. So always keep in mind that my motivation should not be how much someone else has invested but how much I can invest should be my motivation.
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