People with quick rich attitude always mess up with alt coins - page 2.

uneng

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Quote from: Tipstar on August 01, 2023, 08:46:41 AM

Quote from: krishnaverma on May 10, 2023, 10:56:31 AM

I have mentioned multiple times in past here that people should be cautious with alt coins. If some coin has moved up like 100% or more in just 24 hours, it does not mean that you should also purchase the coin. You should first understand the reason behind prices moving up. Then, you should also analyze the benefits and demerits of the project.

One such option has come again in safemoon. The coin has pumped more than 100% when they reduced fees from 10% to 1%. Now new investors are rushing to invest in this coin. This is the situation when the past investors in the coin are like in 99% loss of their invested value. But greed make people loose all senses I think. If you are still thinking to invest in safemoon now, think twice.

By human nature people are attracted to high earnings potentials and are ready to risk their money for it. Some even lose more than they are capable of. The reality are hard learned by losing and there's no learning in altcoins. Missing out is another thing people regret about, so the best way is to take the middle path and invest small amount in multiple projects you believe could moon x10 or x100 in upcoming days. It's surely risky but there are some strategies to be on the safer side while trying not to miss on the hype though.

That is actually a primarly mistake from newbies and laymen to invest in such altcoins just because they are pumping 100% in short periods of time. However, I think everyone has already been on that position before, maybe not exactly inside crypto market, but on another situations of their lives. The important here is to learn with our mistakes and to understand the mechanics of the market to prevent repeating them again later.

Greedy investors may find it difficult, but if they really aim positive returns on long term, they don't have any other choice.

jossiel

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Quote from: Victorik on August 01, 2023, 11:14:53 AM

Besides crypto currency, people with a get rich quick mentality always end up messing up. They can do anything to get the money, not minding how they get it.

In crypto currency, people with a get rich quick mentality, are easy prey for scam.

Everyone that has that mentality are potential victims of these scams.

That's why they're being taken advantage and true that becomes a prey from these scammers. If they don't change for the better, the experience that they'll have from having this mindset will have them learned the hardest possible way.

So, you gotta get into the natural process of how it's like to earn not just from altcoins but also in real life and side hustles. It's a process that one has to be taken without rushing.

Victorik

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Besides crypto currency, people with a get rich quick mentality always end up messing up. They can do anything to get the money, not minding how they get it.

In crypto currency, people with a get rich quick mentality, are easy prey for scam.

Tipstar

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Quote from: krishnaverma on May 10, 2023, 10:56:31 AM

I have mentioned multiple times in past here that people should be cautious with alt coins. If some coin has moved up like 100% or more in just 24 hours, it does not mean that you should also purchase the coin. You should first understand the reason behind prices moving up. Then, you should also analyze the benefits and demerits of the project.

One such option has come again in safemoon. The coin has pumped more than 100% when they reduced fees from 10% to 1%. Now new investors are rushing to invest in this coin. This is the situation when the past investors in the coin are like in 99% loss of their invested value. But greed make people loose all senses I think. If you are still thinking to invest in safemoon now, think twice.

By human nature people are attracted to high earnings potentials and are ready to risk their money for it. Some even lose more than they are capable of. The reality are hard learned by losing and there's no learning in altcoins. Missing out is another thing people regret about, so the best way is to take the middle path and invest small amount in multiple projects you believe could moon x10 or x100 in upcoming days. It's surely risky but there are some strategies to be on the safer side while trying not to miss on the hype though.

doomloop

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Quote from: Pamadar on July 30, 2023, 05:32:13 PM

Quote from: SUPERSAIAN on July 29, 2023, 02:09:28 PM

Yes, that's what I did when I was a novice. When an altcoin started to rise a lot, I had the psychology of not being able to make a profit. I remember a little about what Safemoon did, and it's pretty doubtful that it will ever happen again. At times, some tokens get pretty much inflated by whales. Like I said, they may not always do this. Too much greed in altcoins causes loss of money, this has always been so.

Following that movement will also let to fall into a trap, thinking that you will be making a decent amount of profits without knowing that the whales are just playing around.

Always have that mindset to do your research and balance the possibility of making money over losing it
with each trading or investment participation that you are doing, make sure that you have that time to
continue learning and not being attached to a quick money process that mostly being misunderstood.

Greed makes us lose money, it's as simple as that. We can always get some profit and exit the market even if the whales are playing around, but only if we don't get greedy and start thinking that we will get more profit and exit at the right time before the price starts to crash again, but that doesn't happen because it is not possible for anyone to perfectly time the market and on top of that, how would we know if the whales have already got what they wanted and now they will dump the market?

So it is always better to simply sell and exit when you are already in profit if you are trading altcoins, because if you didn't exit at the right time and it starts crashing, you won't be able to get any profit and you might even end up losing some of your invested capital if you don't sell quickly.

romero121

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There are altcoins that provide better profit against bitcoin. However the risk is high as bitcoin hold the track record whereas altcoins were of expectation and nothing assured. Some get lucky to invest on altcoins that give quick return on the investment and makes people rich. When we're into altcoins we should be ready to make quick decisions, because the fluctuations take place in large scale and in no time.

Good is to go with the leading altcoins or with the little priced altcoins that are much into discussion and have good growth expectancy. While trying with new coins it is good to spend what one can afford to loss as like gambling.

Pamadar

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Quote from: SUPERSAIAN on July 29, 2023, 02:09:28 PM

Yes, that's what I did when I was a novice. When an altcoin started to rise a lot, I had the psychology of not being able to make a profit. I remember a little about what Safemoon did, and it's pretty doubtful that it will ever happen again. At times, some tokens get pretty much inflated by whales. Like I said, they may not always do this. Too much greed in altcoins causes loss of money, this has always been so.

Following that movement will also let to fall into a trap, thinking that you will be making a decent amount of profits without knowing that the whales are just playing around.

Always have that mindset to do your research and balance the possibility of making money over losing it
with each trading or investment participation that you are doing, make sure that you have that time to
continue learning and not being attached to a quick money process that mostly being misunderstood.

SUPERSAIAN

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Yes, that's what I did when I was a novice. When an altcoin started to rise a lot, I had the psychology of not being able to make a profit. I remember a little about what Safemoon did, and it's pretty doubtful that it will ever happen again. At times, some tokens get pretty much inflated by whales. Like I said, they may not always do this. Too much greed in altcoins causes loss of money, this has always been so.

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Quote from: bbcolex on July 25, 2023, 03:49:34 AM

people with a quick-rich attitude often end up making mistakes when dealing with altcoins. The volatile nature of the cryptocurrency market requires careful research and a long-term investment mindset to navigate successfully.

those research and long term investment mindset become somewhat useless when people are so hellbent on investing in something that so volatile it disregards common sense.
the people with quick rich attitudes are usually know that the thing they invested in are generally shit, but they still go ahead and invest in it because they wanna become rich quick.
therefore even if they did some research, it will all gone to drain because they just don't really make decision based on the research that they did.
so basically these aren't even relevant when it comes to these people with get rich qucik attitudes.

Pamadar

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Quote from: abel1337 on July 28, 2023, 10:11:12 AM

Quote from: QueenVera on July 28, 2023, 04:56:41 AM

Quote from: Sebas.tian on July 27, 2023, 12:52:24 AM

I agree with you OP, think twice before investing in any particular altcoins will really help you to go a long way to be a successful investors that will remain in profits making without experience any losses from his or her altcoins investment. Since I started exercise patience to watch the price of altcoins very well before I buy and hold, it has been helping me to grow financially and materially in my investment because it is difficult for me to invest in a coins that will not bring good results at the end of the investment. Now that the price of altcoins is still waving in the market, it will be a good thing to invest in a potential altcoins that will put smile on your face when the price increase higher soon.

There are many altcoins in the cryptocurency market that can put a smile on your face, For so long Altcoins has been putting smiles on people faces as it has been giving people profits and also altcoins has been making people go broke. Everything depends on how lucky you're with your investment choices because the same altcoins that put a smile on your face can make another person to cry.
Example, Luna and Solana made many people millions in 2021 and also took that million from others in 2022 when it crashed and Solana dumped due to the impact from the FTX collapse. Before investing into any altcoins, do your research properly because some altcoins are just a death trap waiting for who is dumb enough to invest into to, don't invest because if hype do some research.
You can only know that an altcoins is a bad investment when you do your research, you look at the teams behind the project, the community to know if it's full of just moon boys, people that are paid to shill the project in their telegram group and on social media. You also look at the road map and tokenomics of the project, if something doesn't look right then the project is a scam.

It's simply how the market works. Negative news can provide downtrend charts and positive news can result to an uptrend. With the things that happened on LUNA and FTX are major signs of bear market. You might think it's a death trap but majority of the altcoins during the bear market really falls heavily as we see from the recent altcoins on the bear market. Somehow we can predict where do an altcoin value can go depending on the season and no matter how good that project are. One factor that made altcoin good is the possible large profit you can get from it when the bull season arrives. There are so many altcoins that has a potential in the market, we just need to find and acquire those by doing proper research.

Whatever the news brings to the market, there's always a corresponding impact,

And you are right about Luna and FTX. There are traders and investors who are holding for a while who being
move by that crashedand even they are not just focusing on Luna and FTX,

the fear that it will shake everything dominated and made them to sell out with a huge loss,
like you said, it's timing and good anticipation, without that, you might experience more losses
inside this market.

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Quote from: QueenVera on July 28, 2023, 04:56:41 AM

Quote from: Sebas.tian on July 27, 2023, 12:52:24 AM

I agree with you OP, think twice before investing in any particular altcoins will really help you to go a long way to be a successful investors that will remain in profits making without experience any losses from his or her altcoins investment. Since I started exercise patience to watch the price of altcoins very well before I buy and hold, it has been helping me to grow financially and materially in my investment because it is difficult for me to invest in a coins that will not bring good results at the end of the investment. Now that the price of altcoins is still waving in the market, it will be a good thing to invest in a potential altcoins that will put smile on your face when the price increase higher soon.

There are many altcoins in the cryptocurency market that can put a smile on your face, For so long Altcoins has been putting smiles on people faces as it has been giving people profits and also altcoins has been making people go broke. Everything depends on how lucky you're with your investment choices because the same altcoins that put a smile on your face can make another person to cry.
Example, Luna and Solana made many people millions in 2021 and also took that million from others in 2022 when it crashed and Solana dumped due to the impact from the FTX collapse. Before investing into any altcoins, do your research properly because some altcoins are just a death trap waiting for who is dumb enough to invest into to, don't invest because if hype do some research.
You can only know that an altcoins is a bad investment when you do your research, you look at the teams behind the project, the community to know if it's full of just moon boys, people that are paid to shill the project in their telegram group and on social media. You also look at the road map and tokenomics of the project, if something doesn't look right then the project is a scam.

It's simply how the market works. Negative news can provide downtrend charts and positive news can result to an uptrend. With the things that happened on LUNA and FTX are major signs of bear market. You might think it's a death trap but majority of the altcoins during the bear market really falls heavily as we see from the recent altcoins on the bear market. Somehow we can predict where do an altcoin value can go depending on the season and no matter how good that project are. One factor that made altcoin good is the possible large profit you can get from it when the bull season arrives. There are so many altcoins that has a potential in the market, we just need to find and acquire those by doing proper research.

QueenVera

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Quote from: Sebas.tian on July 27, 2023, 12:52:24 AM

I agree with you OP, think twice before investing in any particular altcoins will really help you to go a long way to be a successful investors that will remain in profits making without experience any losses from his or her altcoins investment. Since I started exercise patience to watch the price of altcoins very well before I buy and hold, it has been helping me to grow financially and materially in my investment because it is difficult for me to invest in a coins that will not bring good results at the end of the investment. Now that the price of altcoins is still waving in the market, it will be a good thing to invest in a potential altcoins that will put smile on your face when the price increase higher soon.

There are many altcoins in the cryptocurency market that can put a smile on your face, For so long Altcoins has been putting smiles on people faces as it has been giving people profits and also altcoins has been making people go broke. Everything depends on how lucky you're with your investment choices because the same altcoins that put a smile on your face can make another person to cry.
Example, Luna and Solana made many people millions in 2021 and also took that million from others in 2022 when it crashed and Solana dumped due to the impact from the FTX collapse. Before investing into any altcoins, do your research properly because some altcoins are just a death trap waiting for who is dumb enough to invest into to, don't invest because if hype do some research.
You can only know that an altcoins is a bad investment when you do your research, you look at the teams behind the project, the community to know if it's full of just moon boys, people that are paid to shill the project in their telegram group and on social media. You also look at the road map and tokenomics of the project, if something doesn't look right then the project is a scam.

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I agree with you OP, think twice before investing in any particular altcoins will really help you to go a long way to be a successful investors that will remain in profits making without experience any losses from his or her altcoins investment. Since I started exercise patience to watch the price of altcoins very well before I buy and hold, it has been helping me to grow financially and materially in my investment because it is difficult for me to invest in a coins that will not bring good results at the end of the investment. Now that the price of altcoins is still waving in the market, it will be a good thing to invest in a potential altcoins that will put smile on your face when the price increase higher soon.

xSkylarx

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Not only on altcoins but all aspects of investment, just to take an example. HYIP or Ponzi people want to earn quick without doing anything; we just got blind when we saw the possible profit of it without knowing the risk of it. Even though it is just common sense that this will not last in the long run, because we just wanted that big profit easily, we got blind and did not know that you'd lose your money.

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Quote from: JeffBrad12 on July 24, 2023, 06:33:11 PM

Quote from: tengui on July 23, 2023, 07:38:10 PM

Quote from: lalabotax on July 23, 2023, 05:30:12 PM

And unfortunately this happens very often, where these new investors enter when the market is at the top price, so when they enter, then the price of the new altcoin drops very drastically which makes them no longer have the opportunity to take profits, even to return their investment in these altcoins. While they are only consumed by the hype promoted by certain parties, they themselves do not do any research beforehand because they believe in various influencers and also the promises of the hype project. This is what often happens so that many new investors lose big in new coins from new shit coins projects.

this is because when the market is bullish crypto will be hype and this hype will invite many new investors to invest in crypto. unfortunately most of them do not study the characteristics and movements of the crypto market. as a result they invest at high prices without thinking about the risks they receive are also very high.

this one is simply called FOMO, where everyone are quite literally in fear of missing out their most awaited chance of turning their life around and become rich.
meanwhile thats simply illusion and is not necessarily gonna make them rich.
thats the thing with these get rich quick investors they just gonna fall into the same trap their entire life because they just too greedy honestly.
if they could spare themselves from being too greedy maybe they could have better investments return but nah they'd just prefer try until they run out of money.

Maybe it would not make them rich, but we can agree that it can make them "richer", because if you miss the bull run then you are going to miss making a profit chance as well. Sure getting from 1k to 3k is not rich, it's not like you can do whatever you want, but it is "richer", and that's what matters. So when someone does FOMO, that means they are fearing a chance to be richer not rich.

I have that as well, I end up investing all the time, during bull and bear all the same, I keep investing more and more because I have FOMO, I want to be richer, doesn't mean that I can be rich and wealthy get a castle and butlers, that's not my aim, my aim is to have more money tomorrow when I wake up then today when I go to bed, that's it.

Pamadar

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Quote from: JeffBrad12 on July 24, 2023, 06:33:11 PM

Quote from: tengui on July 23, 2023, 07:38:10 PM

Quote from: lalabotax on July 23, 2023, 05:30:12 PM

Quote from: gabbie2010 on July 23, 2023, 04:14:59 PM

Some traders or investors who get late when the price of that particular altcoin hasn't reach 100% are very lucky though fewer in number compared to the majority who bought at peak when the price is on reversal mode basically it's due to their inability to analyze and made research about that particular altcoin,

And unfortunately this happens very often, where these new investors enter when the market is at the top price, so when they enter, then the price of the new altcoin drops very drastically which makes them no longer have the opportunity to take profits, even to return their investment in these altcoins. While they are only consumed by the hype promoted by certain parties, they themselves do not do any research beforehand because they believe in various influencers and also the promises of the hype project. This is what often happens so that many new investors lose big in new coins from new shit coins projects.

this is because when the market is bullish crypto will be hype and this hype will invite many new investors to invest in crypto. unfortunately most of them do not study the characteristics and movements of the crypto market. as a result they invest at high prices without thinking about the risks they receive are also very high.

this one is simply called FOMO, where everyone are quite literally in fear of missing out their most awaited chance of turning their life around and become rich.
meanwhile thats simply illusion and is not necessarily gonna make them rich.
thats the thing with these get rich quick investors they just gonna fall into the same trap their entire life because they just too greedy honestly.
if they could spare themselves from being too greedy maybe they could have better investments return but nah they'd just prefer try until they run out of money.

The chance of losing is far bigger than making decent profits when you are following that kind of movements,

Same deal with Fuds, where investors are fearing with possible bigger losses than to wait for the next market run, the mindset
of making quick profits from this kind of investment will always lead you to lose your investment, without doing your proper
research most of the time, you will lose as the decision is not appropriate with how the market is moving.

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people with a quick-rich attitude often end up making mistakes when dealing with altcoins. The volatile nature of the cryptocurrency market requires careful research and a long-term investment mindset to navigate successfully.

JeffBrad12

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Quote from: tengui on July 23, 2023, 07:38:10 PM

Quote from: lalabotax on July 23, 2023, 05:30:12 PM

Quote from: gabbie2010 on July 23, 2023, 04:14:59 PM

Some traders or investors who get late when the price of that particular altcoin hasn't reach 100% are very lucky though fewer in number compared to the majority who bought at peak when the price is on reversal mode basically it's due to their inability to analyze and made research about that particular altcoin,

And unfortunately this happens very often, where these new investors enter when the market is at the top price, so when they enter, then the price of the new altcoin drops very drastically which makes them no longer have the opportunity to take profits, even to return their investment in these altcoins. While they are only consumed by the hype promoted by certain parties, they themselves do not do any research beforehand because they believe in various influencers and also the promises of the hype project. This is what often happens so that many new investors lose big in new coins from new shit coins projects.

this is because when the market is bullish crypto will be hype and this hype will invite many new investors to invest in crypto. unfortunately most of them do not study the characteristics and movements of the crypto market. as a result they invest at high prices without thinking about the risks they receive are also very high.

this one is simply called FOMO, where everyone are quite literally in fear of missing out their most awaited chance of turning their life around and become rich.
meanwhile thats simply illusion and is not necessarily gonna make them rich.
thats the thing with these get rich quick investors they just gonna fall into the same trap their entire life because they just too greedy honestly.
if they could spare themselves from being too greedy maybe they could have better investments return but nah they'd just prefer try until they run out of money.

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Quote from: lalabotax on July 23, 2023, 05:30:12 PM

Quote from: gabbie2010 on July 23, 2023, 04:14:59 PM

Some traders or investors who get late when the price of that particular altcoin hasn't reach 100% are very lucky though fewer in number compared to the majority who bought at peak when the price is on reversal mode basically it's due to their inability to analyze and made research about that particular altcoin,

And unfortunately this happens very often, where these new investors enter when the market is at the top price, so when they enter, then the price of the new altcoin drops very drastically which makes them no longer have the opportunity to take profits, even to return their investment in these altcoins. While they are only consumed by the hype promoted by certain parties, they themselves do not do any research beforehand because they believe in various influencers and also the promises of the hype project. This is what often happens so that many new investors lose big in new coins from new shit coins projects.

thats true, FOMO is one way of losing all our money in investment.
its just not worth it to follow the fomo for veterans that already figured out how things would turning out to be. after all these FOMO are just trying to get newer investors gets in to open up chance for the early birds to liquidate.

Topic: People with quick rich attitude always mess up with alt coins - page 2. (Read 1119 times)