Mistakes That Make You Poor Poor In Cryptocurrency - page 8.

shoreno

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Quote from: TIDOVEE on January 03, 2020, 08:54:05 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, 08:54:05 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 .

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Quote from: zeingrind777 on July 10, 2018, 04:06:55 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.

All this have called for real carefulness at all points, a lot of people have actually suddenly became poor when they lose their password or there account is hacked and to begin again becomes so difficult, and there are people who are steady and ready to take advantage of those careless fellows in order to swipe off their account. Greed is also a factor. Most of us who just store coin for long exposes them to dangers.

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Quote from: Arkann on January 02, 2020, 01:37:47 PM

Quote from: Bezobraznike on January 02, 2020, 09:34:17 AM

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.

The fact is that joy is not a special problem for users in the cryptocurrency market, namely the lack of certain experience and skills to make the right technical analysis of a project, as well as determine its prospects in order to make the right investment or purchase of cryptocurrency for trading. And greed or a thirst for making money drives almost all of us.

Greed and thirst drives all of us, at the beginning as I said. But with time, with experience you learn how to control them, you
learn where are your limits and what are reasonable expectations with your bankroll and your skills.
Each of us make choices based on our experience and skills to do a proper research. Most of us relay on experts who do that
better then us, we call them experts because they have more experience and more technical knowledge then we do.

LUCKMCFLY

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One of the biggest mistakes is to believe that little money will grow quickly by trading, many times those who have a lot of money to trade get little profit.

To firmly believe that by allocating little money and starting to lose can produce frustration and can generally lead to failure quickly without learning something productive, it is better to see trade as a business, where you can get little profit with a lot of work or small percentages over time.

sayaya17

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It could be that mistakes will make someone poor, maybe because of losing all the invested capital, so you lose all money. That can happen if there are mistakes made as the OP said in the thread. For example exposed to fraud or theft. But it is very rare for people to become poor if they only lose a little capital in investing.

Arkann

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Quote from: Bezobraznike on January 02, 2020, 09:34:17 AM

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.

The fact is that joy is not a special problem for users in the cryptocurrency market, namely the lack of certain experience and skills to make the right technical analysis of a project, as well as determine its prospects in order to make the right investment or purchase of cryptocurrency for trading. And greed or a thirst for making money drives almost all of us.

takingthis4

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Besides the mistakes you mentioned, there are some other mistakes that we often make in cryptocurrency that make us weak. First, there's no potential to buy some of the coins as they literally have no real usecase. Moreover, purchasing at a high price and selling at low which makes use rake in massive losses. Also, by listening to false news about a coin or by seeing a small drop in the price, people also start selling coins that make them lose and contribute to the overall drop in that coin's price.

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

Quote from: mamahdedeh on January 01, 2020, 09:59:18 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.

plvbob0070

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Quote from: mamahdedeh on January 01, 2020, 09:59:18 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.

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Quote from: Blackdeath on January 01, 2020, 11:26:48 AM

My mistakes in cryptocurrency are mostly in trading, which i buy coins in a higher price then i will sell it in a cheap price that i always panic sell when it was my first time in trading that i can't really control my emotions when my holdings is starting to drop. I also experience forgetting my password in my wallet account that i really panic, good thing i find the note that i wrote all of my passwords especially my wallet.

My mistakes in cryptocurrency is when I invest Huge amount even I dont have enough knowledge about investing which cause to a big loss for me. But when we see here, we can say that the most reason why we became poor in cryptocurrency is due to carelessness.

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Quote from: iram3130 on January 02, 2020, 05:21:28 AM

Falling for scammers who try to ping you on social media and telegram in the name of trading.
Also sending some BTC/ETH so that you will get more in return.

Many have fallen for these.

I also have seen a lot of those cases online and I don't know how they fall for those types of scams. It is a real proof of lack of knowledge about investments and cryptocurrency in general. Those cases should be a lesson for people who want to jump into cryptocurrency to study the market first before they put their money into it to avoid being a victim of a scam.

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Quote from: iram3130 on January 02, 2020, 05:21:28 AM

Falling for scammers who try to ping you on social media and telegram in the name of trading.
Also sending some BTC/ETH so that you will get more in return.

Many have fallen for these.

Quote from: avikz on July 10, 2018, 05:06:30 AM

Quote from: zeingrind777 on July 10, 2018, 04:06:55 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.

Good List but you missed the main one, it is GREED! That is one factor which makes us poor while investing in cryptos. I know a lot of people who had bought bitcoin during late 2017 and proudly announced that move in facebook with a lot of hashtags. All of them are in loss today. SOme of them even used their credit card to purchase bitcoin hoping to make astronomical profit to cover the credit card interest fees and enjoy with the rest of the money.

GREED is one factor that drives us towards unrealistic profit making businesses. If greed is the factor that drives your instinct, you are pretty much doomed before you even start.

In Cryptocurrency, all you need is a prior knowledge and have some skill that you might use in order to survive and fulfill your needs but there is a such cases and scenarios we encounter along achieving your goals here. We should not forget some tips and basic needs and information that we have here in bitcointalk especially the information that we usually use to get our money and to join some bounties. Wallet address, passwords and emails are usually we use in our transaction so don't forget it because if you do, you will loss all your efforts and money. Be wise in doing such decisions here in order for you to come up with a good product and better output that will make you wealthy and not poor.

iram3130

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Falling for scammers who try to ping you on social media and telegram in the name of trading.
Also sending some BTC/ETH so that you will get more in return.

Many have fallen for these.

romero121

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People becoming poor out of cryptocurrency happens out of greed and misunderstanding that cryptocurrency is a way to get rich easier. Very few get lucky, but without the proper knowledge people keep on investing in a random manner without perfect analysis about the market and the worth of the project. Beyond this usage of cryptocurrency on gambling and on hyip makes people poor and poor in a short time.

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Quote from: mamahdedeh on January 01, 2020, 09:59:18 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

Same here, I think many experience this, not setting goal and aiming for more when already most is given. I don't even stop loss earlier when the price continuously declining. I considered it now just a charged on experience and simply those amounts I have before were just once a dream that I should moved on.

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Quote from: zeingrind777 on July 10, 2018, 04:06:55 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.

You are right at the end that no one will protect and replace what we have lost. we need to protect what we have and crypto and even our knowledge we need it to be 100% sure and not turn into a rush decisions. even we have small mistakes and saw a mistake of others we need to make it or take it as a lesson so we can improve what we have and apply for any movement will make it sooner so we will not lost all what we have.

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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

Blackdeath

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My mistakes in cryptocurrency are mostly in trading, which i buy coins in a higher price then i will sell it in a cheap price that i always panic sell when it was my first time in trading that i can't really control my emotions when my holdings is starting to drop. I also experience forgetting my password in my wallet account that i really panic, good thing i find the note that i wrote all of my passwords especially my wallet.

Colt81

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The mistakes that i have done that makes me poor in cryptocurrency and gave me a serious financial issues in life is mining because my electric bill was insanely high that the money that i earn from my mining is not that high, that is why i decided to stop mining for a while and the price of bitcoin is also dump. Other one is forgetting my private keys that i get depressed after that which most of my holdings are in that wallet, that is why i learned my lesson to always hide and keep my private keys.

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I agree with the above. and now I just discovered another way that hackers can gain access to your computer easily. Those are scam airdrop emails from them, they send them to us and offer great rewards and our mission is just click and download. I used to have it but fortunately after 3 minutes I found the buttons on my keyboard were paralyzed and I removed the hard drive immediately so it was safe. I recommend that you only use junk emails to airdrop or bounty, otherwise they will send emails that contain viruses.

Topic: Mistakes That Make You Poor Poor In Cryptocurrency - page 8. (Read 6952 times)