Mistake I made till now investing on crypto projects. - page 4.

CaVO32

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Quote from: Quidat on April 29, 2022, 04:35:23 PM

Quote from: TribalBob on April 29, 2022, 04:31:48 PM

it all started from a mistake and made a lesson for all of us in the future, good information, friend, thank you for telling your experience and possible solutions, for beginners, you should read this because your initial thoughts on investing in crypto are always profitable, even though behind the success of someone in the crypto world there are many lessons and journeys behind all

Most noobs wont really be able to read up things at first because they would really be having that kind of behavior on which they do tend to engage directly without doing
any further research on which things would only be learnt up after real experiences but eventually we could really able to avoid out if we are just sensible
or mindful about our actions specially when we are just starting up but well people do really end up on being careless when we are just stepping our foot
into something new.

Some newcomers are careless because most are tempted with the promised of high profits. However, it is good if they will learn their lessons on their own because in that way, they will bring those lessons throughout their journey in this market. Hard to push something to a person if he doesn't believe it. So it is better to let them learn on their own ways. They will learn quick if they will lose their hard-earned money or in some, borrowed money.

Viscore

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Live with peace and enjoy life!

Quote from: Darker45 on April 26, 2022, 08:35:04 PM

These are realities in the altcoin market. The Bitcoin market is a lot different. And I guess it is generally acknowledged that the Bitcoin market is much much safer than the altcoin market. The risks in the altcoin market are way too high and too many compared to the risks with Bitcoin. Some of these could be avoided but some may not. For example, being aware that altcoins are short-lived must have pushed you to take profit. Losing in that respect is avoidable. However, in terms of picking the best project to invest in, failure could be unavoidable. Projects may not be what they seem. What appears to be the best choice may actually be the scam.

Since altcoin market has been the playground of scams, no matter how promising the project is, there are always high chances that it will end up as scam and that is inevitable. I guess the best thing we can do is to always make an in depth research first deciding to invest in a project. Trace the background of the team that is running the project, if they have made successful projects prior to that. That way, we will have an idea whether to trust them our hard earned money or not.

Quidat

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DGbet.fun - Crypto Sportsbook

Quote from: TribalBob on April 29, 2022, 04:31:48 PM

it all started from a mistake and made a lesson for all of us in the future, good information, friend, thank you for telling your experience and possible solutions, for beginners, you should read this because your initial thoughts on investing in crypto are always profitable, even though behind the success of someone in the crypto world there are many lessons and journeys behind all

Most noobs wont really be able to read up things at first because they would really be having that kind of behavior on which they do tend to engage directly without doing
any further research on which things would only be learnt up after real experiences but eventually we could really able to avoid out if we are just sensible
or mindful about our actions specially when we are just starting up but well people do really end up on being careless when we are just stepping our foot
into something new.

Cookdata

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Not Your Keys, Not Your Bitcoin

Quote from: DVlog on April 25, 2022, 04:18:53 AM

Product was not ready: That project looks promising but their product was still in development mode. I made a huge sum of investment but the price of the token keeps falling because no utility exists by then. Lose 90% of my portfolio.

Lesson: Do not invest in a token that doesn't have any utility or whose product is not ready.

A hard lesson was learnt but I will like to correct some of the wrong assumptions you thought contributed to your failure.
It is true that you should invest in a project that must have a utility but some utility doesn't just come into existence at the beginning of the project launched, some carry months to years before you see their utility and how can you tell if the utility will come or not in future, it is only time that can reveal that, look at Solana and Fantom, they both were here at few scents and nobody gives a sh!t about them until they went mainet and then the FOMO began.

Quote

Product was ready but token doesn't have utility: Another project where I am still 50% down. This project is already live and they have a big community but right now their token doesn't have any proper utility so investors keep selling their unlocked token.

Lesson: Wait for the team to implement any proper utility so that market has demand for that token.

Why invest in a project that can add value to your money, that's just like investing in a meme token that is purely based on speculation and hype.

TribalBob

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DGbet.fun - Crypto Sportsbook

it all started from a mistake and made a lesson for all of us in the future, good information, friend, thank you for telling your experience and possible solutions, for beginners, you should read this because your initial thoughts on investing in crypto are always profitable, even though behind the success of someone in the crypto world there are many lessons and journeys behind all

Pomogator

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Quote from: Kimonoe on April 27, 2022, 09:39:46 AM

good writing to add experience so that we are more careful in investing, if we make a wrong step we will indeed wait a long time to recover, it can even happen that we will not recover and we lose money. indeed a lot of new projects that do hype so as to just rob investors of money and walk away. when a rally occurs, fomo takes action, and there will be many people who will be affected so they invest with high expectations

I also encountered scammers in the cryptosystem. Starting from investing in a project and ending with bounty projects. There are a lot of scammers in cryptocurrencies who want to make money on you, this is the financial sector, be careful. The most important thing is to learn to look for projects for yourself, and not to listen to some "experts".

el kaka22

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www.Crypto.Games: Multiple coins, multiple games

Ohhhh this list is amazing. I have made some of these mistakes and learned the same lessons, even needed some of these lessons to be fair even though I have been around for many years, nearly a decade. I have to say there is never enough mistakes, we just make them all the time and no matter how long you have been here, you keep making those same mistakes all over again.

I am afraid it is not going to be that easy to just watch the list and check every box before you invest, if it was like that then none of us would have made any mistakes. But, it is clearly important to learn from our mistakes and get lessons like this so that we never repeat them again.

xSkylarx

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Quote from: gantez on April 27, 2022, 12:28:15 PM

The team member for my opinion doesn't really become the most important thing than the project itself and again to where that the project is listing. For the team member, they may bring the name of important person but the person not aware of that. They put the names on white paper but white paper is fake and scam. Concentrating on the project I think is better.

Agreed, you have a point. It's like having a celebrity on their WP but that celebrity doesn't really know the project well; it's just like having flowers all over it. However, if you have a reputable team member, such as he/she has previous experience on a successful project, then it's a plus. However, if the project is not supported in the long run, it will be down. Now scammers are really efforting, like hiring famous people to advertise their scam projects, which leads to a lot of people getting scammed. We should look out for that.

ajochems

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You made a valid post for the beginners.Mainly for the people who inverse money very blindly before the launch on Exchange.Many project will come to exist and sell their token on their own website.Because they will had full investing dollars to their own pocket.Then with expected money,they will close the project and flyaway.So you should investigate the listing before investment in new exchange.

dunfida

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Product was ready but token doesn't have utility:

This is the main thing that i do always look upon when i do tend to invest on a particular project.Always look for its utility and dont focus on the hype that surrounds it because
it would really be a good indication whether a project could stand on long term or not.

Somewhat its not an assurance because some or most people do really likes to dive in whenever they do see short time pumps.

fiulpro

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At the same time you can see how effective their advertising is from the Altcoins campaigns as well there are many tokens which have been running successfully over the years as well and you can always differentiate between a token that's been in the market for long and the one which is already dying.
Some tokens also have the buy back option as well but for me that's like the team members already have a backup option and they don't trust their product enough therefore I do not like investing in those sector. For me investments are just bitcoins at the moment .
But right now with this much competition in the market I do not think that it's all safe waters as well. Most of the tokens are going to end up loosing all of their value therefore you can either take a chance or invest in the one's which are already successful.

Reid

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Suddenly it made me remember a lot of my mistakes. This list should be kept by every investor because there will be a time we will forget about it and be careless again. Experiences are part of success either good or bad but there are times we get greedy and takes a huge risk without even noticing it.
This makes us remember it all and I appreciate the OP for making a big effort to put it all in one long opening thread.
Will bookmark it and will also print it and paste it in my wall. Wink

Thank you.

gantez

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The team member for my opinion doesn't really become the most important thing than the project itself and again to where that the project is listing. For the team member, they may bring the name of important person but the person not aware of that. They put the names on white paper but white paper is fake and scam. Concentrating on the project I think is better.

Disruptivas

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One other noteworthy topic I would add: the more complex and brilliant, the less chance of success. When I think about the hundreds of white-papers and projects that I followed, I saw it being born, dying, developing, succeeding. I realized that the more complex and futuristic the solution, the less chance of success.

An interesting case may be the coins for IoT, which is much talked about until today, but little exists in terms of applications that could actually be used. And in that case, it can have a use, a great team and everything. But maybe it's just not the right timing. The case of the Star Atlas game is also one of those cases, a hyper AAA game, which has not yet managed to deliver anything, while other ''simpler'' games could be launched, develop, have their communities and success.

I think simple and useful solutions are the ones that works and solve everyday problems.

gloriam5

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Hi!
I am into Crypto business for not a long time, but thanks to this information everything is clearer! Thanks

hugeblack

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It is the mistakes of beginners that are necessary to learn, but it is difficult to overcome them, especially if you are a beginner. Whatever you apply these things, you will need some practical knowledge and therefore you must trade.

Therefore, and for beginners, I strongly advise them to invest in Bitcoin only, altcoins “may” make gains if you have some experience.

There are also skills that must be known, even if they are not directly related to trading.

One of them is knowledge, even basic, of writing codes. Otherwise, for example, you will be surprised that the code contains a line that freezes the funds or prevents them from being sent until a certain time.

Image Source ---> https://bitcointalksearch.org/topic/m.59845093

The second is economics and its connection with psychological sciences and how to manage fear and greed.

Kimonoe

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good writing to add experience so that we are more careful in investing, if we make a wrong step we will indeed wait a long time to recover, it can even happen that we will not recover and we lose money. indeed a lot of new projects that do hype so as to just rob investors of money and walk away. when a rally occurs, fomo takes action, and there will be many people who will be affected so they invest with high expectations

gloriam5

newbie

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Hi!
Wow, I have also heard about this issue! Thanks for the information!

DVlog

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Quote from: cabron on April 26, 2022, 06:52:04 PM

Often times, its because we think of having more coins so we bought at the cheapest possible that even the project hasn't yet created we bought a lot of it. So much trust given to a project team because they promise something for the project to be the catalyst. Only to be disappointed when they fail to achieve every milestone.
The ones we taught project won't also succeed are the ones that are trying hard to make it and then many investors also missed while the price is only few satoshis.

Actually investing in a well-established altcoin and a startup project requires a different type of approach. You can invest in top altcoin only by analyzing the price action of the market but for a new project, a lot of things have to be checked first. This is where I made my mistake and lose my money. Most of my projects where I lose money is a startup projects. So if you don't have enough experience then start with a small amount.

ultrloa

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Good observation about your mistakes and actually this could be a good information to read by newbies since this experiences really happened on crypto investment.

And I guess to avoid such risk on every investment decision made we should avoid holding to much and wait for the utility to came since most of the tokens we buy will only pump at early stage and struggle to pump when it takes many months of its existence.

Topic: Mistake I made till now investing on crypto projects. - page 4. (Read 622 times)