Topic: ONE MAJOR LESSON LEARNT SO FAR THIS WEEK FROM THE CRYPTO MARKET 😥 (Read 541 times)
December 05, 2022, 10:58:51 AM
We are still very early. Hope THIS MESS won’t take place in future when the industry is mature enough.
November 23, 2022, 03:06:52 PM
What lesson did you learn from the market this week?
I personally, learnt to always take profit.
I personally, learnt to always take profit.
Taking profit has always been advised in the industry as this is a very volatile market that one minute we could be in a bullish trend and the very next minute things change. We have very vulnerable investors in the market which is why things move so quickly. Emotions are all over the market even though it has been advised against entering the market with emotions. We have traders with no experience which are just gambling on how the market will go and they open position that they can't withstand the pain if they were to lose.
The market has made it seems like you go big or go home, everyone wants to hit it big one time and this is reflecting on the market as the charts are unhealthy and making things difficult for traders that read the market with charts.
November 23, 2022, 01:49:03 PM
lesson I got
1. always be aware of our personal assets
2. Never store large amounts of assets on an exchange
3. keep learning and learning in everything about what is cryto, exchange, and all kinds of blockchain
All of those lessons are important but the third one is critical, it is important to remember that no one knows everything and with this in mind we need to always be open to learn about new things, this is especially true when it comes to scammers a they are always coming up with new ways to scam people and if you are not aware of how it works then you may get scammed by them, unfortunately those which may need to listen to this advice the most are probably the ones that are the least likely to hear it. 1. always be aware of our personal assets
2. Never store large amounts of assets on an exchange
3. keep learning and learning in everything about what is cryto, exchange, and all kinds of blockchain
November 21, 2022, 06:59:55 PM
What lesson did you learn from the market this week?
I personally, learned to always take profit.
Not only this week but along my journey in this crypto world:I personally, learned to always take profit.
- Never be greedy, always take profits as targeted or at the right time
- Use SL if we are daily traders
- Not panic about FUD, stay wise and calm to think and consider what's best to do in certain conditions.
- Never trust anyone that rise the hype and suggest you hold certain new projects because commonly, they only want to rise the hype, take profits, and deceive us by leaving us with our holding tokens.
- Always analyze and watch the market movement if the rate that we target is almost reaching, for, we may probably lose our only chance to take profits if we expect too high.
November 21, 2022, 06:05:33 PM
Always Keep your fund safe don't connect your wallet to any Unknown website check the Authentication of that website always
Don't trust on any Centerlized Exchange even if it is Binance or any top exchange
Just purchase a hardware wallet for storing your funds for the long run
Ultimately knowledge is everything so try to gain more knowledge from other opinion and implement it
Don't trust on any Centerlized Exchange even if it is Binance or any top exchange
Just purchase a hardware wallet for storing your funds for the long run
Ultimately knowledge is everything so try to gain more knowledge from other opinion and implement it
November 20, 2022, 06:59:35 PM
Some important lessons can be learned during this month
- Storing money in cex was stupid choice
- Try to take profit once market is recovery a little bit
- Try to be patience when bearish market is still stay here
- people must never try to trust centralized entity so much.
- Lending platform was the garbage platform that can dead instantly
Lots of lessons have come but it seems people never try to learn it. So many people keep even sending their money to the lending platform which has been playing shady with the customer funds and liquidity. i hope that people will be learned a lot from the last case happened with FTX that was affecting so many defi.
- Storing money in cex was stupid choice
- Try to take profit once market is recovery a little bit
- Try to be patience when bearish market is still stay here
- people must never try to trust centralized entity so much.
- Lending platform was the garbage platform that can dead instantly
Lots of lessons have come but it seems people never try to learn it. So many people keep even sending their money to the lending platform which has been playing shady with the customer funds and liquidity. i hope that people will be learned a lot from the last case happened with FTX that was affecting so many defi.
November 20, 2022, 06:44:15 PM
even the coin that's among the highest ranked could just lose their value in the blink of an eye, this has occured twice and I don't think everyone will have the same faith to these highest ranked coins like before since it could literally make you broke in just short moments, I'd say diversification of the investments is the only thing that could save your investments in this tough times, after all with diversification, if one of the coin is crashing there are still many coins left that could potentially go up in value.
November 20, 2022, 06:31:14 PM
lesson I got
1. always be aware of our personal assets
2. Never store large amounts of assets on an exchange
3. keep learning and learning in everything about what is cryto, exchange, and all kinds of blockchain
1. always be aware of our personal assets
2. Never store large amounts of assets on an exchange
3. keep learning and learning in everything about what is cryto, exchange, and all kinds of blockchain
November 20, 2022, 04:55:41 PM
What lesson did you learn from the market this week?
I personally, learnt to always take profit.
I personally, learnt to always take profit.
Take profit? or take out your coins from centralized exchanges because you don't know when they are going to collapse like FTX.
I think it is better to learn both
. Take profit and take your fund out of the centralized exchange in order to avoid the same experience the FTX clients had.So create a wallet that you have total control of, have the keys, and save it. Others will say that just leave enough in an exchange for your trading, for me if I have more than $100 then I will withdraw it immediately just in case.
Same here, I'd rather spend the money elsewhere than leave it in an exchange and get stuck due to an exchange getting hacked, getting bankrupt or turning rogue and scamming their client.
And for investments, just be careful on shitcoins and meme coins as they could be devalued or lost their worth very quick.
I agree, even though profit in these altcoins can be life-changing, the risk involves is also life-changing if we get all in and failed to calculate the risk involved and got scammed.
November 20, 2022, 04:20:01 PM
It's true that it really damages CEX's reputation, it requires transparency from the exchange regarding the storage and allocation of the investors' funds they hold. Also remember that DEX also has several weaknesses that can make investor funds get hacked too. It's better to be wise and diversify
I think I learned that proper regulation on centralized exchanges must be implemented. As you said, fund transparency is a must. An exchange should be audited at least once a year in order to verify the reserve funds if it is 1:1 to the clients funds. That way exchange users will have a peace of mind and their balance is available anytime they wanted to withdraw. I also agree to not put our money in one basket. Diversification is one of the key to avoid a total lose when our investment doesn't do well.
November 20, 2022, 02:52:06 PM
Don't keep all your funds in one exchange, diversify your coins and diversify your exchange. Provide stablecoins to hold more when the price drops drastically and becomes a discount price, because that's a good time to enter bigger profits
The lesson we learn is that though crypto industry is developing very fast but still far from maturity so stay away from centralized exchanges until they are properly regulated and scrutinized to protect investor's fund.
This incident has massively damaged the reputation of all centralized exchanges and people to think twice/thrice before they transfer their funds in any exchange including Binance which is top rated exchange. People didn't like the role CZ (Founder & CEO of Binance) played; in the beginning he came up with rescue plan but later he backed out.
Conclusion: Though this fallout is a pain for the short term for the whole crypto industry, but I think it is good for the long term because more regulation will definitely come out now to scrutinize the crypto holding companies.
It's true that it really damages CEX's reputation, it requires transparency from the exchange regarding the storage and allocation of the investors' funds they hold. Also remember that DEX also has several weaknesses that can make investor funds get hacked too. It's better to be wise and diversify
November 18, 2022, 10:08:44 PM
What lesson did you learn from the market this week?
I personally, learnt to always take profit.
That is a lesson you can learn from any other dump we have witnessed in the market in the past, so while important I do not think it is related to the events that occurred this week, a more important lesson is to always keep your coins in a wallet only you control, because as we have seen no exchange no matter how big or how good is their reputation is worth of that trust, as they could always collapse out of nowhere and then make you lose all your money with no chance of ever recovering it.I personally, learnt to always take profit.
November 18, 2022, 12:14:12 PM
To @OP and everyone.
Taking profit is very common these days because if you don't do that, that's the actual lesson you'll learn. That's what I've learn long time ago and there were instances that when you take profits, the market rises more.
And at that time, the regret begins to tick on your mind that you should haven't taken the profit yet. But, you just did the right thing and you'll never know when the dump will start.
Simply know your satisfaction as a player. Taking profit won't be easy if you're on that drive of playing. Whether it id greed or not, it will be hard to stop in an instant. Your satisfaction as a gambler and investor would determine when to stop. Taking profit is a problem to many gamblers because they are wanting for more. Who's not in need of money by the way?Since the market prices of not only Bitcoin but to most of the cryptocurrencies are having a hard time, selling won't be not advisable for those who can,'t afford standing the situation without the idealisation of profit. Eversince I got here' if you more than 3mos,can emember it correly, Taking profit is very common these days because if you don't do that, that's the actual lesson you'll learn. That's what I've learn long time ago and there were instances that when you take profits, the market rises more.
And at that time, the regret begins to tick on your mind that you should haven't taken the profit yet. But, you just did the right thing and you'll never know when the dump will start.
November 18, 2022, 10:16:31 AM
I personally, learnt to always take profit.
I myself believe in the principle of always take profit. Because I don't like to wait if there is a profit from my investment whether it is less or more. A good opportunity came this week to make some profit. The market was dumped a lot this week. So I invested some USD and then sold when the market pumped again.Bitcoin on the other hand is super valuable and will grow beyond ATH again, its only matter of time, when the time comes that will happen and you will want to hold some bitcoins when that time comes, or you will be upset.
November 17, 2022, 09:13:21 PM
What lesson did you learn from the market this week?
I personally, learnt to always take profit.
I personally, learnt to always take profit.
Trust no one in the crypto world, not your keys, not your coins.
Do not invest all funds in the same project, diversify investment andtaking profits is a must.
November 17, 2022, 07:37:12 PM
The recent negative events in the cryptocurrency industry have taught me that we cannot always put our faith in projects that appear to be solid, reliable, secure, and so on. You should be alert to any new data, shifts, or warning indicators, no matter how vague they may seem. No one can be trusted, let alone centralized projects. Keep vigilance; protect yourselves at all times. Here, we can afford to slack off and yet come out ahead. You should be prudent with your finances because we can't predict when awful things will happen and must always be ready for the worse.
November 17, 2022, 04:11:02 PM
What lesson did you learn from the market this week?
I personally, learnt to always take profit.
I personally, learnt to always take profit.
Take profit? or take out your coins from centralized exchanges because you don't know when they are going to collapse like FTX.
So create a wallet that you have total control of, have the keys, and save it. Others will say that just leave enough in an exchange for your trading, for me if I have more than $100 then I will withdraw it immediately just in case.
And for investments, just be careful on shitcoins and meme coins as they could be devalued or lost their worth very quick.
November 17, 2022, 03:21:22 PM
FTX has taught many people an important lesson, not your keys, not your coins.
The number one thing that matters in the cryptocurrency space is self-regulation. Never put all your eggs in one basket, Take profits!
Not your keys, not your coins is a familiar phrase and we are always being reminded about that because FTX isn't the first crypto exchange that have collapsed but we have the legendary Mt.Gox and other smaller ones. This was still a good reminder though in case some of us forget it already and serves as a lesson for those who are new in here.The number one thing that matters in the cryptocurrency space is self-regulation. Never put all your eggs in one basket, Take profits!
Another lesson would be is to not trust or invest in exchange tokens because they are too shady and many of us mistaken it as a good investment because they only based on the reputation of the exchange but that is wrong. We shouldn't judge those exchange tokens that way when we don't know their full story.
November 17, 2022, 03:08:39 PM
What lesson did you learn from the market this week?
I personally, learnt to always take profit.
That is a lesson you can learn from any other dump we have witnessed in the market in the past, so while important I do not think it is related to the events that occurred this week, a more important lesson is to always keep your coins in a wallet only you control, because as we have seen no exchange no matter how big or how good is their reputation is worth of that trust, as they could always collapse out of nowhere and then make you lose all your money with no chance of ever recovering it. I personally, learnt to always take profit.
November 17, 2022, 02:52:27 PM
To @OP and everyone.
Taking profit is very common these days because if you don't do that, that's the actual lesson you'll learn. That's what I've learn long time ago and there were instances that when you take profits, the market rises more.
And at that time, the regret begins to tick on your mind that you should haven't taken the profit yet. But, you just did the right thing and you'll never know when the dump will start.
Taking profit is very common these days because if you don't do that, that's the actual lesson you'll learn. That's what I've learn long time ago and there were instances that when you take profits, the market rises more.
And at that time, the regret begins to tick on your mind that you should haven't taken the profit yet. But, you just did the right thing and you'll never know when the dump will start.
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