Mistakes That Make You Poor Poor In Cryptocurrency - page 7.

DevilSlayer

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Quote from: Kimonoe on January 05, 2020, 03:12:12 AM

Quote from: FlightyPouch on January 04, 2020, 06:54:04 PM

Quote from: pearnapple on January 03, 2020, 05:41:03 PM

There are also people in the hype and people in the market prices who are emotional. The whale or pump and dump community can easily manipulate this kind of people and in return they will simply lose their money. It's the same for new bounty hunters as we see them getting scammed by dishonest bounty managers or ICOs where they're only going to waste their time and energy.

Bounty hunters also starts a dump. It is not always the managers or the ICOs, to be honest it is always the hunters. When they recieve the portion of their payment, most of them usually sell immediately that payment resulting into a dump and a price of that coin to be lower than the expected price in the market. Also, whales can't really see what you are doing, if they really want to manipulate the market, they can just sell all of their currencies when it reached a high peak, it happened a lot of times now and the price is still at what we have right now.

indeed the bounty hunter contributed to the dump at the beginning of the exchange listing. but I don't think it's only bounty hunters that make it a dump, moreover the bounty hunter coins are small. I think we should be able to take advantage of the conditions, while worth the price, I think selling faster will be better, and transferred to good coins

That is why the developers are locking the rewards coins for months or even years in order to avoid dumping. The bounty hunters have the characteristics of being a greedy persons, so after they received the payment in the bounty they will sell immediately their coins that can cause a massive dump. That is the strategies that most of the developers that we keep doing in order to avoid dump.

fireball4

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There are a number of mistakes people make. They donate all their money first, they spend all their money without realising that you can win some and even lose some in trading. There's no guarantee that you're going to make a profit, particularly if you don't know how to read charts. Just spend and save what you think you're going to lose. Second, buying coin because it's hit on some social media sites, even if the project doesn't have a good platform, it can only ruin your life by investing in it.

White Christmas

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Quote from: zeingrind777 on July 10, 2018, 05:06:55 AM

With cryptocurrency, you have to be careful with any fraud and theft. and usually many people who are caught in the losses in the world of crypto is:
1. Not Backup Key
2. Electricity Billing Mining More
3. Lunes In Phishing Sites
4. Buy Coin With Rumors
5. Create a weak password
6. Steal With Stealth ICO

With cryptocurrency, no bank or other institution or regulation will protect you in the event of a loss.

There are a lot of mistakes that are making by the crypto community and why those affect them from being poor in cryptocurrency than being a rich man in this kind of field.
First, is those people that are loosing ot forgetting their one time password or private key and because of that they cannot recover those bitcoin or coins that are already in their exchangers because they don't have any access on it anymore. Victim of phishing sites are those people who are not being aware about this that there are some sites that are getting their information and using it into illegal activities. Lastly, the electricity consumption in the mining, why? Here in our country electricity is one of the biggest consumption we need to paid of so the miners are being hard to deal with it because the electric consumption of them by mining is going only to pay the electric bills.

Kimonoe

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Quote from: FlightyPouch on January 04, 2020, 06:54:04 PM

Quote from: pearnapple on January 03, 2020, 05:41:03 PM

There are also people in the hype and people in the market prices who are emotional. The whale or pump and dump community can easily manipulate this kind of people and in return they will simply lose their money. It's the same for new bounty hunters as we see them getting scammed by dishonest bounty managers or ICOs where they're only going to waste their time and energy.

Bounty hunters also starts a dump. It is not always the managers or the ICOs, to be honest it is always the hunters. When they recieve the portion of their payment, most of them usually sell immediately that payment resulting into a dump and a price of that coin to be lower than the expected price in the market. Also, whales can't really see what you are doing, if they really want to manipulate the market, they can just sell all of their currencies when it reached a high peak, it happened a lot of times now and the price is still at what we have right now.

indeed the bounty hunter contributed to the dump at the beginning of the exchange listing. but I don't think it's only bounty hunters that make it a dump, moreover the bounty hunter coins are small. I think we should be able to take advantage of the conditions, while worth the price, I think selling faster will be better, and transferred to good coins

FlightyPouch

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Quote from: pearnapple on January 03, 2020, 05:41:03 PM

There are also people in the hype and people in the market prices who are emotional. The whale or pump and dump community can easily manipulate this kind of people and in return they will simply lose their money. It's the same for new bounty hunters as we see them getting scammed by dishonest bounty managers or ICOs where they're only going to waste their time and energy.

Bounty hunters also starts a dump. It is not always the managers or the ICOs, to be honest it is always the hunters. When they recieve the portion of their payment, most of them usually sell immediately that payment resulting into a dump and a price of that coin to be lower than the expected price in the market. Also, whales can't really see what you are doing, if they really want to manipulate the market, they can just sell all of their currencies when it reached a high peak, it happened a lot of times now and the price is still at what we have right now.

tippytoes

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Quote from: tambok on January 04, 2020, 12:01:21 PM

Quote from: Triffin on January 04, 2020, 11:26:16 AM

Quote from: shoreno on January 03, 2020, 10:16:48 AM

Quote from: TIDOVEE on January 03, 2020, 09:54:05 AM

All this have called for real carefulness at all points, a lot of people have actually suddenly became poor when they lose their password

you cant be instant poor once you loss you password because you can still recover but if not then you still have other sources of money . poor means you lost all your money and stuffs in your house or you dont have any source of income anymore . but would you carelessly put large amount of fund on your crypto wallet when you know that most of those are your wealth? i guess no one would do that .

Quote from: TIDOVEE on January 03, 2020, 09:54:05 AM

Greed is also a factor. Most of us who just store coin for long exposes them to dangers.

before we start holding we already know the dangers so why would you still hold long ? that is what you call greed indeed . thats why i dont prefer to hodl for too long .

Holding too long is important as holding makes your investment rise in price and those who hold are not greedy but they are actually wise because they know selling for panic can give nothing but only lose and it's kind of responsibility to know that an investors should hold how long. I think the more an investor hold he earns more from his investments.

I hold shitcoins too last year, thinking it will really hit the $10 as promised by the team, I was impressed with their platforms, that they do have different platforms launching, so I trusted them as I can really see that they do have a lot of platforms, but, they just launch and launch their platform but really no real use case, they just hype and now the CEO is happy with the money that he got after dumping the price to 10 sats. That's the biggest lesson so far for me.

That's why it is really hard to trust the words of those teams that are trying to entice their buyers. We don't know their real intentions, most of them are driven by greed. Once they got their pocket full, they don't care about the developments. I have invested in few ICOs before, thinking that the project will deliver but nope, I've lost some eth on that also. Hodling for too long is only possible for those platforms that have active use case in the market. If you can see that there are huge number of users of their app or services and are really operational, that might have the chance to increase its price, otherwise, don't hodl.

BuNga_cute

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It is true what is written in the opening post, that if you make a mistake that has been mentioned in the opening post will be poor.
Especially points number 1 and 5, which are not backup key and create a weak password. If we don't make a backup key we will be
threatened lost all the funds we have. Because when we lose the private key and there is no backup key, we cannot access the wallet
us again. Then always make a strong password so it is not easily hacked, because a weak password will be very easy to be hacked by
hackers.

Savemore

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Quote from: tambok on January 04, 2020, 12:01:21 PM

Quote from: Triffin on January 04, 2020, 11:26:16 AM

Quote from: shoreno on January 03, 2020, 10:16:48 AM

Quote from: TIDOVEE on January 03, 2020, 09:54:05 AM

All this have called for real carefulness at all points, a lot of people have actually suddenly became poor when they lose their password

you cant be instant poor once you loss you password because you can still recover but if not then you still have other sources of money . poor means you lost all your money and stuffs in your house or you dont have any source of income anymore . but would you carelessly put large amount of fund on your crypto wallet when you know that most of those are your wealth? i guess no one would do that .

Quote from: TIDOVEE on January 03, 2020, 09:54:05 AM

Greed is also a factor. Most of us who just store coin for long exposes them to dangers.

before we start holding we already know the dangers so why would you still hold long ? that is what you call greed indeed . thats why i dont prefer to hodl for too long .

Holding too long is important as holding makes your investment rise in price and those who hold are not greedy but they are actually wise because they know selling for panic can give nothing but only lose and it's kind of responsibility to know that an investors should hold how long. I think the more an investor hold he earns more from his investments.

I hold shitcoins too last year, thinking it will really hit the $10 as promised by the team, I was impressed with their platforms, that they do have different platforms launching, so I trusted them as I can really see that they do have a lot of platforms, but, they just launch and launch their platform but really no real use case, they just hype and now the CEO is happy with the money that he got after dumping the price to 10 sats. That's the biggest lesson so far for me.

You already know that it is a shitcoin and you still hold it anyway? Are you crazy investor? Of course it is expected that we can have huge losses if we will hold a shitcoin. I do not have any shitcoin in my wallet. How do identify a coin that can be a shitcoin? It is simply by just classifying if it is a liquid altcoin or an illiquid altcoin. An illiquid altcoins are shitcoins and it needed to be ignore in the market.

tambok

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Quote from: Triffin on January 04, 2020, 11:26:16 AM

Quote from: shoreno on January 03, 2020, 10:16:48 AM

Quote from: TIDOVEE on January 03, 2020, 09:54:05 AM

All this have called for real carefulness at all points, a lot of people have actually suddenly became poor when they lose their password

you cant be instant poor once you loss you password because you can still recover but if not then you still have other sources of money . poor means you lost all your money and stuffs in your house or you dont have any source of income anymore . but would you carelessly put large amount of fund on your crypto wallet when you know that most of those are your wealth? i guess no one would do that .

Quote from: TIDOVEE on January 03, 2020, 09:54:05 AM

Greed is also a factor. Most of us who just store coin for long exposes them to dangers.

before we start holding we already know the dangers so why would you still hold long ? that is what you call greed indeed . thats why i dont prefer to hodl for too long .

Holding too long is important as holding makes your investment rise in price and those who hold are not greedy but they are actually wise because they know selling for panic can give nothing but only lose and it's kind of responsibility to know that an investors should hold how long. I think the more an investor hold he earns more from his investments.

I hold shitcoins too last year, thinking it will really hit the $10 as promised by the team, I was impressed with their platforms, that they do have different platforms launching, so I trusted them as I can really see that they do have a lot of platforms, but, they just launch and launch their platform but really no real use case, they just hype and now the CEO is happy with the money that he got after dumping the price to 10 sats. That's the biggest lesson so far for me.

purebitco

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There's a common mistake that makes you lose profit just like investing without information on it. There are tonnes of ICO projects rising nowadays so common form of investor mistake is they easily jump into that project without guarantee. Greediness also leads you to lose money. Carelessness also leads to trouble such as hacking your accounts or easily scamming yourself.

Triffin

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Quote from: shoreno on January 03, 2020, 10:16:48 AM

Quote from: TIDOVEE on January 03, 2020, 09:54:05 AM

All this have called for real carefulness at all points, a lot of people have actually suddenly became poor when they lose their password

you cant be instant poor once you loss you password because you can still recover but if not then you still have other sources of money . poor means you lost all your money and stuffs in your house or you dont have any source of income anymore . but would you carelessly put large amount of fund on your crypto wallet when you know that most of those are your wealth? i guess no one would do that .

Quote from: TIDOVEE on January 03, 2020, 09:54:05 AM

Greed is also a factor. Most of us who just store coin for long exposes them to dangers.

before we start holding we already know the dangers so why would you still hold long ? that is what you call greed indeed . thats why i dont prefer to hodl for too long .

Holding too long is important as holding makes your investment rise in price and those who hold are not greedy but they are actually wise because they know selling for panic can give nothing but only lose and it's kind of responsibility to know that an investors should hold how long. I think the more an investor hold he earns more from his investments.

merchantofzeny

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Quote from: zeingrind777 on July 10, 2018, 05:06:55 AM

With cryptocurrency, you have to be careful with any fraud and theft. and usually many people who are caught in the losses in the world of crypto is:
1. Not Backup Key
2. Electricity Billing Mining More
3. Lunes In Phishing Sites
4. Buy Coin With Rumors
5. Create a weak password
6. Steal With Stealth ICO

#1 #3 #5 are pretty standard security procedures that anyone should be ensuring is secure. I won't bother trying to mine cryptos, easier to just buy. I haven't heard of "stealth ICO" since I also don't bother with those since BTC is the only one I'm planning to focus on. #4 is definitely an emotional issue whether you are trading BTC or alts.

Quote from: Palider on January 03, 2020, 12:28:46 PM

Investing in hyip
Investing in bitcoin doubler

Those 2 are totally scams. They'll just return a bit of your money and then stop. I don't know people are still falling for those.

pearnapple

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There are also people in the hype and people in the market prices who are emotional. The whale or pump and dump community can easily manipulate this kind of people and in return they will simply lose their money. It's the same for new bounty hunters as we see them getting scammed by dishonest bounty managers or ICOs where they're only going to waste their time and energy.

Kevondo

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Quote from: shoreno on January 03, 2020, 10:16:48 AM

Quote from: TIDOVEE on January 03, 2020, 09:54:05 AM

All this have called for real carefulness at all points, a lot of people have actually suddenly became poor when they lose their password

you cant be instant poor once you loss you password because you can still recover but if not then you still have other sources of money . poor means you lost all your money and stuffs in your house or you dont have any source of income anymore . but would you carelessly put large amount of fund on your crypto wallet when you know that most of those are your wealth? i guess no one would do that .

Quote from: TIDOVEE on January 03, 2020, 09:54:05 AM

Greed is also a factor. Most of us who just store coin for long exposes them to dangers.

before we start holding we already know the dangers so why would you still hold long ? that is what you call greed indeed . thats why i dont prefer to hodl for too long .

A person becomes poor in the cryptocurrencies when he is not well aware of the various loop holes that are a part of the financial system taking place in the form of the online economic system. One trick to keep the dealings safe is that you must take care of the passwords of your wallets. Moreover one must keep a note of all transactions that are made.

meliodas

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Quote from: pearnapple on January 03, 2020, 05:41:03 PM

There are also people in the hype and people in the market prices who are emotional. The whale or pump and dump community can easily manipulate this kind of people and in return they will simply lose their money. It's the same for new bounty hunters as we see them getting scammed by dishonest bounty managers or ICOs where they're only going to waste their time and energy.

I agree with that. People are greedy and they are clueless on how cruel the manipulators are, they tend to think that they know everything about the opportunities in cryptocurrency but they do not have an idea on they should avoid the scams and manipulators. If they don't want to waste their time and energy, then they need to learn how to analyze an opportunity to see if it is a good deal or not.

bangjoe

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Quote from: desticy on January 03, 2020, 02:30:39 PM

In my particular case, the biggest losses occurred during attacks of greed, it was then that I lost the most money.
This mainly happened during strong movements in the price of bitcoin, I could afford not to put stop-loss, which I later bitterly regretted, or vice versa did not take profit when it was necessary to do it.

in your case, you should start using a trailing stop or set a price that is not higher than the top resistance that is still trying to break, if indeed the price may still go higher, make it a habit to use capital that is not as big as before. I have experienced the same FOMO and started trying to improve many things since then.

desticy

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In my particular case, the biggest losses occurred during attacks of greed, it was then that I lost the most money.
This mainly happened during strong movements in the price of bitcoin, I could afford not to put stop-loss, which I later bitterly regretted, or vice versa did not take profit when it was necessary to do it.

Webetcoins

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Quote from: Bezobraznike on January 02, 2020, 10:34:17 AM

Quote from: plvbob0070 on January 02, 2020, 10:09:29 AM

Quote from: mamahdedeh on January 01, 2020, 10:59:18 PM

My biggest mistake is being greedy, when I have altcoin and have a pump, I don't sell it immediately, or change it to bitcoin, and finally now some altcoins are worthless, so sometimes regret comes up, but we must rise

Being greedy is also my mistake in cryptocurrency like I'm so greedy in playing gambling that's why I lose most of my savings which in cryptocurrency. Sometimes selling altcoin immediately is also a mistake because what if the price will pump up more than you expect and because of that you will regret then you will blame yourself that why I sell it and why I do that. But, this year 2020 I will restrain myself on being greedy and I will be more patient in gambling and even trading.

Plvbobo0070 I wish you the best in this year, I hope that you will manage to stay focused on earning and making profit. Being greedy is
characteristic of all beginners, we learn as we grow and practice. I am a bit older and when I was young I was losing money on beginners
mistakes too.
Educate yourself more, it's the only way to develop your skills and be successful in the long-term.

Yes regrets are a part of this business. Cryptos are subject to massive change that is sudden when it comes to declaring their demand and price in the international market. Hence it is not the right choice to keep them assembled within your accounts for later use. They must be sold away as soon s there is a pumping phase in order to buy the other coins that are being pointed out to face a rise in the upcoming days.

Palider

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Quote from: zeingrind777 on July 10, 2018, 05:06:55 AM

With cryptocurrency, you have to be careful with any fraud and theft. and usually many people who are caught in the losses in the world of crypto is:
1. Not Backup Key
2. Electricity Billing Mining More
3. Lunes In Phishing Sites
4. Buy Coin With Rumors
5. Create a weak password
6. Steal With Stealth ICO

With cryptocurrency, no bank or other institution or regulation will protect you in the event of a loss.

Crypto Currency is Decentralized and once we loss our private keys here especially in decentralized wallet no one will help us. So always carefull in storing our crypto and also on our private keys.

Investing in hyip
Investing in bitcoin doubler

Will also risk that we need to avoid although i know newbies are always victims of this and some other investor that still investing even they know the risk here.

rekinthis

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This happened at the beginning I was actively involved with Crypto, I had a tendency to be self-taught and I didn't care about feedback from other people, several websites that I clicked on and eventually caused phishing, I experienced significant losses and I was inactive for several years. This was a very big mistake and now I try to learn from other people as much as possible. But this time I came back with a different attitude, I got more input from others and maintained behaviour for non-blunders identical to selfishness.

Topic: Mistakes That Make You Poor Poor In Cryptocurrency - page 7. (Read 6931 times)