Simple advice, don't get carried away by people success stories. - page 3.

Lucius

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Quote from: Jaycoinz on December 14, 2023, 10:54:20 AM

In the third world country today and I would like to believe not only there, they seem to be so much wave all about the cryptocurrency market or industry whatever suit the explanation, but the thing is that many people actually get intrigued by the success stories of some maybe influencers or people that aren't actually expert on the field but maybe experience one or two lucky session especially when we look at it from the trading aspect.
~snip~

Nothing happens by chance, and third world countries are definitely a target for all those scammers who are looking for easy targets who can be sold a nicely packaged story about how investing in some "crypto projects" will make them rich overnight. These people have no problem stealing the last penny from someone, and they also consider that people who are already poor have no possibility to take any legal action once they realize that they have been cheated.

Therefore, it is very important to warn young people in time not to fall under the influence of such stories, and that social networks are not at all harmless, but are full of scammers who are looking for their victims in every possible way.

ZAINmalik75

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Quote from: Jaycoinz on December 14, 2023, 10:54:20 AM

my advice to everyone out there is that we should all be cautious of what we do from the things we hear because sometimes what profits the next man can actually turn out to be a disappointment to you.

All other advice too are welcome from senior here to help guide those enthusiastic newbie that are willing to do anything to earn profits or be as successful as the story they hear.

I liked your way of presenting this idea, in simple words we can call this type of behavior of a man as becoming a victim of FOMO, or FUD. Most of the time when we hear the success stories of others the first thought that comes to our mind is why would they tell us the secrets or ideas they have in their minds to make money?

But in my point of view, I think if a person is telling you about his success story in a way that you think he is trying to lure you into it. Then understand that he might be scamming you. But if I as a BTC enthusiast if try to teach someone about it and try to tell him about its potential then I will also try to share my success stories with them to motivate them.
But it does not present that I am trying to scam them instead trying to make them some money.

DeathAngel

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Reading other people's successful investment stories can be inspiring & informative but it's important not to expect to replicate them exactly. Every investment journey is unique influenced by various factors such as market conditions, individual risk tolerance & financial goals. What worked for someone else might not work for you due to different circumstances & resources. It’s more valuable to learn from these stories, gain insights & adapt them to your own investment strategy.

Jaycoinz

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Quote from: Stepstowealth on December 14, 2023, 04:38:57 PM

Quote from: Jaycoinz on December 14, 2023, 10:54:20 AM

my advice to everyone out there is that we should all be cautious of what we do from the things we hear because sometimes what profits the next man can actually turn out to be a disappointment to you.

I have learnt to stop believing completely in all the stories from people, especially when it is a personal story told, because often times the details are exaggerated to gather more praise and admiration. If you get carried away by the story of other people you would be making a big mistake because you will be distracted from chasing your own success and maybe start rethinking that in cases where you are not motivated by the lies in their story, you will feel like you are not doing enough.

Sometimes many people lose their way just because they want to replicate other people success. Many people don't know that's some of these stories are just hype and don't really tell the whole struggle that's involved or problem encounter before they could achieve such height and you hearing only the part that's sweet like honey, you then decide to replicate the good part to yourself and boom you fall like an elephant with no balance.

Mpamaegbu

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Quote from: Jaycoinz on December 14, 2023, 10:54:20 AM

...we all should be careful on how to react when we hear people talk about success stories that are wildly exaggerated.

Even if the success stories aren't wildly exaggerated, it's still not a good thing to be carried away by them. Envy no man to want to be like them. It's vanity. Don't try to make your sowing season another man's harvest season. Time and season is what we all should be watching out for. Everyone is on their own track and no one should jump tracks. Follow your passion diligently with focus and gradually you will get to that finishing line. Yes, it can grind slowly and sometimes will look discouraging but definitely it will pay off.

Crypto is a money spinner but not all crypto investments will grant you success. I'm sure newbies reading my comment now won't give it a second reading. They will think it's a waste of their screen time until they learn what I'm saying from experience. It doesn't always have to be by your own bad experience to learn a thing. You can also learn from the experiences of others and add them to your knowledge. It's not that hard.

Don't buy a hyped coin or token. Buy one with utility. Don't key into cock and bull stories. If it sounds too good to be true, run away from it. It's most likely going to end as a scam.

Crypt0Gore

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This is why I hate bringing people into altcoin investment, even if its a very good one, for example celestia or arbitrum, I still feel that its not safe as anything could happen, the only thing I can introduce to people is Bitcoin, I have full confidence with Bitcoin but not any altcoins no matter how strong their fundamental and utilities can be.

About the success stories, me I love reading them, if they are genuine, I always cling unto any sign of hope and believe me, success stories is far more encouraging for me in my crypto journey, you don't have to do the same thing that they do, just keep your hope and dreams alive.

Success stories are encouraging, some people are so brain dead that they believe its impossible to make in big in life, I used to have people like these around me and keep my distance to safe my own mindset, I find strength in such stories but I don't copy them, I just drain the strength from the stories and add it up in my boiling blood.

Pandu Geddon

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Quote from: Jaycoinz on December 14, 2023, 10:54:20 AM

my advice to everyone out there is that we should all be cautious of what we do from the things we hear because sometimes what profits the next man can actually turn out to be a disappointment to you.

and more importantly, we must be aware and responsible for what we do. What you say is very relatable to the conditions of several people I know. they even come to complain and regret when they do things they say were unintentional.
we must be more accustomed to always placing responsibility at the forefront. we know cryptocurrency is very risky. When we choose to invest, we must be aware and more responsible for what we do ourselves. no matter if it's advice or encouragement from other people.

Kelward

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Quote from: Dunamisx on December 14, 2023, 12:17:47 PM

Quote from: Jaycoinz on December 14, 2023, 10:54:20 AM

my advice to everyone out there is that we should all be cautious of what we do from the things we hear because sometimes what profits the next man can actually turn out to be a disappointment to you.

We can take the celebrities as an example in this case, many of us are seing them in proxy and wish to be like them, which I don't see anything bad in having their kind of acheivements and success, but these same people couldn't be the same we can accept to go by their kind of lifestyle in real life, we may not like so many things we may later discover about them the more we are getting closer to them, we should rather pick up the good and leave the rest with them.

People get carried away when they see their favorite celebrities advertising a project, they'll eventually dive in and invest their hard earned money without carrying out their own personal research first to understand more about the product. I can only take advice from a celebrity if they're specifically talking about their area of expertise or talents, otherwise I'll have to research every advise or advert that they do or give, especially were it involves money, because they're most likely paid to do a job.

When it comes to family and friends, if they're giving me advice on areas that they're not specialized in, I'll discreetly carry my own research before engaging my time or money. Because most times they also heard the information from unverified sources, and they share as they're told.

Hewlet

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The issue with people painting a picture of their success in the crypto journey is that most of them only tell the story on the part that gave them success but wouldn't want to share their failures or the process that yielded this success.

Success is not just a one day journey but it's actually an accumulation of decisions and actions that yielded a certain result at a certain time that conforms to a quality tagged "success".

While you get motivated and excited about the success of another, try to find out the stories behind the success and let it guide you in making informed decision that will see you to achieving a similar level of success

Kelvinid

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It is simple, not all success stories are true, especially if that person is not known. Successful people don't show their stories unless someone gives them an interview and post publicly like on social media platform but some prefer to stay anonymous. While those people - like we say these influencers use their stories to gain attention, I don't think they deserve appreciation and trust.

Yes, we should be careful about who we trust and who we follow. In the world today, many stories can be faked and edited videos to show. Research is only the best thing to do, nothing else.

hatshepsut93

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It sounds like a made-up story to attract suckers into giving money to scammers, but even if the story is legit and it's all not a scam, you shouldn't immediately rush to invest and instead ask yourself is this success can be replicated and what conditions led to this success.

A lot of people invest in crypto because they hear about a person who made a lot of money with it, but they fail to learn anything valuable about crypto and instead lose their investments to scams and market crashes.

Finestream

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Make your own story instead from your own diligent study and research. That way, you won't fall on others and easily believe on their made up stories. It's clear that their motives is not to help you to be in profits but it's the opposite way around. You are helping them to stay in profits if you chose to believe whatever they say. So get rid of them and do not fall on their fancy made up stories.

Newbies are the most likely the victims here. If you have the eagerness to make quick profits because of your greed, then you are certainly one of their targets.

Marvelman

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I get it. You see people online bragging about the fat stacks they made in crypto, and you want a piece of that pie. But more often than not, those folks just got lucky on a one-off trade. Don't think you can just jump in the market with some YouTube tutorials under your belt and expect to crush it. I've seen too many newbies lose their shits because they didnt respect the game. Their ego makes them overconfident, so they skip the education part and blow up their accounts. If that sounds familiar, maybe start with paper trading for a few months. An see how it goes.

Stepstowealth

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Quote from: Jaycoinz on December 14, 2023, 10:54:20 AM

my advice to everyone out there is that we should all be cautious of what we do from the things we hear because sometimes what profits the next man can actually turn out to be a disappointment to you.

I have learnt to stop believing completely in all the stories from people, especially when it is a personal story told, because often times the details are exaggerated to gather more praise and admiration. If you get carried away by the story of other people you would be making a big mistake because you will be distracted from chasing your own success and maybe start rethinking that in cases where you are not motivated by the lies in their story, you will feel like you are not doing enough.

Hyphen(-)

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Quote from: Jaycoinz on December 14, 2023, 10:54:20 AM

my advice to everyone out there is that we should all be cautious of what we do from the things we hear because sometimes what profits the next man can actually turn out to be a disappointment to you.

All other advice too are welcome from senior here to help guide those enthusiastic newbie that are willing to do anything to earn profits or be as successful as the story they hear.

All newbies that are coming with this idea of making it very quick because others made it are always victims of losing money due to either greed or ignorance.

The solution to all this is just to stop believing everything you hear because people are making stories just to attract new people which can be their source of income in form of advert, or they actually made it luckily through that process which is not more working; therefore, as a newbie, always do some research about any coin you are willing to invest in before putting your money in it.

FOMO is one effect again which has affected so many people, but all these can come to an end if there is roper understanding about cryptocurrency and how it works.

PrivacyG

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How do some people think these success stories are 100 percent reproducible? They always blindly trust what some random guy who succeeded did and it obviously pretty much never works.

I would follow motivational accounts for the most part. Successful people too, but learn from their mistakes and understand their moves. Do not just copy what they publicly say they are doing. It could always be a plug. Or a honey pot. Or just sponsorship or whatever else. Get motivated and do better. Stop following the successful like a horde, they are almost always using their influence against you. Not FOR you.

Viscore

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With people's innocence, majority get carried away with other people's successful stories and think that they can also be successful and profitable like them because that's what these successful people are trying to imply on them. Without realizing that we all have different experiences investing or trading in crypto, and we gained different outcomes because what other people are inclined to might be a weakness for others. So don't fall on their words, but focus on your own capabilities to do things as we can't trust anyone except by our own self.

However, I believe that we are all destined to succeed but in different timeframe, and we can't just assume that if other people have succeeded already, then we will also be successful. It takes knowledge and good experience for someone to be successful in crypto.

nakamura12

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Not all success stories are bad because some of it are what makes other people want to achieve success too and that will result in doing more effort and inspiration although some of the stories are not true or only a fictional one just for the sake of meeting the quota. One of the stories that will bring motivation and inspiration are like ranking up since it already explains that it is possible to do it in short, you can contribute in the forum too just like the one who is sharing the news or stories

Vaculin

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You don't know actually if that certain person is telling the truth or just making lies to deceive you. A lot of crypto influencers these days who pretend that they are trading successfully and are making significant profits, but in reality they are never reliable traders but experience a lot of losses than gains. Except for those who are really genuine on their words, but still we cannot guarantee that those who work for them might also work for us. It could even push us to be homeless in the end if we keep forcing ourselves to follow what they're saying.

You can't trust anyone in the crypto market, be it investing or trading. That is the reason why you have to equipped yourself with knowledge, skills and strategies so that you can prepare for all the risks and beat them all by yourself without falling from the traps of other people's words.

Mr.suevie

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Quote from: Nerdy doctor on December 14, 2023, 03:07:06 PM

People are easily influenced when the one doing the promoting is famous and well known. They’re going to be interested when they see their no.1 celebrity promoting a project.
Most times, these success stories can be formulated and even exaggerated by scammers looking to attract people to part with a little bit of money and have a success story of your own. And sadly, people fall into the trap in chasing their own big win and success story.
It all falls down to doing some serious research whenever you’re wanting to part with money for a new project or investment.

Exactly mate, many naive minds actually follow such trend, just because someone popular says he made lot of cash through what he is doing doesn't mean you should just go and jump into that thing because the whole can be formulated and at end you will be the one at the losing end. Taking caution in everything you do can really help you out especially if you are not familiar with the stuff people are doing. Most times we easily get influenced by our own emotions and forget what we are doing until the harm has already been inflicted on us, so we should try and stay on course before getting involved into anything, I mean you can do your own little research.

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