I have not made any big mistakes, as both of you have described.
It's about time you had your baptism of fire (regret of lose, as used here) too so you can have something to brag of like the rest of us pre-2018 registered members. On a serious note, I don't think there's anyone who got on this forum before 2017 who doesn't have a rueful experience to share. It will be very difficult to find one. You got on board here in 2020, and started well before the 2021 bull reason set in. You must've read extensively to know what pitfalls to avoid. However, don't loose your guard and believe you can't make a wrong call or judgment. Bad decision isn't the exclusive of noobs. 
Topic: Since you started crypto what has been the greatest mistake you made? (Read 285 times)
January 13, 2022, 06:03:40 AM
January 12, 2022, 03:33:57 PM
Well like others had mentioned in here, it is trusting Altcoin too much. I still recall holding some of the tokens I earned from my discovery in the forum here back in the days. I held it for a year and good thing that I already sold it before the chart flattened out.
It is not just worth the hold anymore. Expect pump and dump coins in the Altcoin side.
It is not just worth the hold anymore. Expect pump and dump coins in the Altcoin side.
January 12, 2022, 08:55:54 AM
I dont really recall how it all happened but In the early days of crypto when we had localbitcoins which was a top peer to peer exchange at the time and for some reason the hacker had found a way to my lbc account and this happened when I tried to exchange crypto for fiat and before i knew as we chatted i gave the hacker my google verification code which meant he locked me out of my account which gave him access to my exchange coins which he wiped clean out of my account but this is water under the bridge as this was a learning experience for me to pay attention to details.
January 12, 2022, 08:27:29 AM
In a simple word trusting Altcoin/Token was the big mistake in my life. When I had approx 1.5 BTC the price was around $5K. I thought it's possible to increase my portfolio by trading. Unluckily I had chosen a couple of shit coins and current value only approx $1K. Means everything I lost by trusting shitcoin. The team just disappeared during bull or bear. I am pretty sure they just sold all the tokens and dump price. They don't care about holders or the community. That's what my costly lesson I can't forget ever. So take lessons from here. Don't try practically lol, and don't trust shitcoin that doesn't have any value.
January 12, 2022, 08:03:52 AM
My experiences have taught me a lot and I'm happy with my learnings.
If you talk about mistakes, of course there are bad things I did in 2019, my friend suggested to buy 1 or 2 Bitcoins at $6000/Bitcoin, i ignore it, that's my stupidity and a total mistake until now sorry, why did I not obey the advice of my friend.Now what to say, the ship is difficult to chase deep into the ocean, can only see and reflect on the mistakes that have become the worst nightmare of all time, maybe at that time my luck was not lucky, that's the worst reality I've ever experienced in Bitcoin, if....!
January 12, 2022, 07:37:20 AM
Mine occurred when I new started, I got dupe by a man who told me he would help me sell my BTC at a higher rate. And back then I had up to 2.06 BTC and I sent 1.06 to him and he disappeared with both the BTC and my money. I remember posting his photos on social media trying to find him 🤣🤣🤣.
It was one of my toughest challenges but I thank God for helping me scale through it.
My experiences have taught me a lot and I'm happy with my learnings.
It was one of my toughest challenges but I thank God for helping me scale through it.
My experiences have taught me a lot and I'm happy with my learnings.
My biggest mistake when I’ve started crypto is that I believe in the so called “I send him ETH, and he give me more ETH” lol. It only happened to me once. I don’t remember how much ETH I did send, but I think it was only worth $50 and then he blocked me on Telegram. During that time, it stings for me and I have no choice but to accept it and learn my lesson.
I am still thankful though for the experience. It made me do better decisions next time until today. Now I kept educating the newbies and beginners not to fall for this simple scam ponzi tactic.
January 12, 2022, 06:49:16 AM
One of my greatest failures in crypto is not investing when the price of the coins is affordable and I still don't make an investment. Also as possible avoid holding a single coin like most of your money is on that coin take it easy if that coin crash all of your assets is not ideal and profitable anymore. Still, the market is all about the risk it depends on you how you can handle your assets and risk management.
January 10, 2022, 04:21:01 AM
- Don't use margin if you have less than 4 years in this market
- Don't use margin if you are not rich and have big capital
- If you use margin, please use not more than 10% of your whole capital for margin trading
The maximum margin I can go for is 3x which is still high for me, I use it of the market had significantly fallen and I know the price will increase within hours. I prefer to take 1x or 2x most of the time. Some beginners will go for 10x to 100x which is where the learn most of their lessons. In this way, traders can lose millions of dollars within short time.
January 09, 2022, 06:23:51 PM
One of the risks in the crypto world is scams, so don't trust other people too much, especially with their tempting offers. There have been many cases like this with different fraud modes. It's better to try and learn to manage our own assets. Personally, the mistake that ever I made is too much of a hurry so that I get a loss where I sold it when the market was down because of the panic that I was experiencing. Learn from mistakes that in order to face the ups and downs of the crypto market we don't need to panic, everything has its time. Wait until the market completely recovers to sell it.
January 09, 2022, 04:59:35 PM
Damn, OP, your mistake is very expensive. When exactly did it happened?
I made enough mistakes during my time in crypto. I lost quite significant, but not life changing money. Shortly, it was wroong investments. During peak of ICO's, I had invested in several ones without making proper research about project. Several turned to be completely scams, in other I never got ROI, value of these coins were close to 0 after ICO. Some of these coins is still laying on my ETH wallet.
These mistakes were good lesson, but I'm trying not to look back too much.
I made enough mistakes during my time in crypto. I lost quite significant, but not life changing money. Shortly, it was wroong investments. During peak of ICO's, I had invested in several ones without making proper research about project. Several turned to be completely scams, in other I never got ROI, value of these coins were close to 0 after ICO. Some of these coins is still laying on my ETH wallet.
These mistakes were good lesson, but I'm trying not to look back too much.
January 09, 2022, 04:41:56 PM
My biggest regret would be spending time and effort on shicoins. If I had fully focused on stacking sats from the get go, I would be in a much better position now. Not complaining though, and in hindsight, there was no way a newbie could have fully understood how cryptocurrency works.
Also, you'll be surprised how many people trust people they meet on the internet.
if you don't tell us the evidence for the story, you may also want to trick us into believing that you have been scammed. Is this fair?
Is there any incentive to lie in this case? The thread does not require evidence, so posting them would be unnecessary.Also, you'll be surprised how many people trust people they meet on the internet.
January 09, 2022, 04:22:49 PM
Mine occurred when I new started, I got dupe by a man who told me he would help me sell my BTC at a higher rate. And back then I had up to 2.06 BTC and I sent 1.06 to him and he disappeared with both the BTC and my money. I remember posting his photos on social media trying to find him 🤣🤣🤣.
It was one of my toughest challenges but I thank God for helping me scale through it.
My experiences have taught me a lot and I'm happy with my learnings.
You should have sued him if you know him personally. How much was the price of bitcoin back then when it happened?It was one of my toughest challenges but I thank God for helping me scale through it.
My experiences have taught me a lot and I'm happy with my learnings.
I think most of the mistakes were just the same and I consider them all having the lessons that I've used up til' now. Like didn't bought a lot of bitcoin during the early days when I knew it. The same goes for Ethereum and BNB.
Mistakes like that, I think everyone does have the same mistakes and also goes for not selling during the peak or is it still considered a mistake if that happened on 2017's peak? Maybe not anymore since we've got new ATH.
January 09, 2022, 02:44:13 PM
Mine occurred when I new started, I got dupe by a man who told me he would help me sell my BTC at a higher rate. And back then I had up to 2.06 BTC and I sent 1.06 to him and he disappeared with both the BTC and my money. I remember posting his photos on social media trying to find him 🤣🤣🤣.
It was one of my toughest challenges but I thank God for helping me scale through it.
My experiences have taught me a lot and I'm happy with my learnings.
Everyone can say they have been scammed but they don't really tell us the evidence that they have been cheated. I don't have any prejudice against you, but if you don't tell us the evidence for the story, you may also want to trick us into believing that you have been scammed. Is this fair?It was one of my toughest challenges but I thank God for helping me scale through it.
My experiences have taught me a lot and I'm happy with my learnings.
I don't really believe that you trust someone you don't know online with 1 bitcoin for a 5 digit price in dollars. It's very hard to understand, what makes you believe it's the worst way you ever do with your money and bitcoin.
January 09, 2022, 12:46:03 PM
My biggest mistake is using margin and think that I can control risk of liquidation. Most of times, I can control it but margin trading does not work like that. Just one case, when you are losing control, your collateral will be liquidated. Worse, if you repeat it a few times, your initial capital will be eaten up and fall to almost 1 or less than 10% of initial number.
It's bad, very bad!
So my advice for crypto newbies is simple
It's bad, very bad!
So my advice for crypto newbies is simple
- Don't use margin if you have less than 4 years in this market
- Don't use margin if you are not rich and have big capital
- If you use margin, please use not more than 10% of your whole capital for margin trading
January 09, 2022, 10:44:31 AM
Patient, is still my biggest challenge in crypto because i regreted many decisions because i'm not patient enough to the market condition and the coins that i hold. I have missed many opportunites if i total it on a value of USD maybe around 10k USD just for the last year because i'm not patient enough when something bad happen or something good happen.
But everytime i did a mistakes, i did learn from my mistakes and prepare for the upcoming chance that i will face, hope it will be better in the future.
But everytime i did a mistakes, i did learn from my mistakes and prepare for the upcoming chance that i will face, hope it will be better in the future.
January 09, 2022, 08:11:50 AM
Probably my biggest mistake was ignoring crypto in 2013 when I very briefly got interested in Dogecoin and tried mining it on my GPU. If I started accumulating in those days, I would have been much more richer now. But it's hard to take a lesson from it, because if you're on this forum, you probably not going to lose interest in crypto anytime soon. But in case you do, let it be a reminder that Bitcoin very likely has a lot of growth ahead of it.
January 09, 2022, 07:31:24 AM
I personally haven't made any real mistakes because I am super cautious when handling money, but that also prevented me to make any significant amounts because that same caution has restrained me. But making mistakes is nothing to be ashamed of, if you learn from it, then that has its value in gold, imho. And with the expansion of the forum and people reporting their errors and scams, there is far less of a chance to lose one's money. But, someone had to make the first steps and be on the frontlines, make those mistakes for others.
January 09, 2022, 07:11:17 AM
I remember being quite thrilled with one project that I thought could really succeed, but of course, it failed like most ideas that were based on practically nothing. I don't regret so much the money I invested in the project, but the time I invested - yet most people seem to have to learn the hard way. Of course, inexperience and misunderstanding play a big role in such things - so I'm not surprised that beginners still believe in various crypto fairy tales.
I'm just wondering if anyone still remembers that project ?
I'm just wondering if anyone still remembers that project ?
January 09, 2022, 06:08:50 AM
For me, it's abandoning the idea of mining BTCitcoin [back in early 2011], as soon as my GPU died [after a couple of months] and instead of keeping the mined coins safe, I traded my desktop [with most of my mined coins in there] for a laptop!
- It's worth noting that, back then, I had very limited knowledge about BTCitcoin and I was just following a bunch of tutorials from a certain Facebook group.
- It's worth noting that, back then, I had very limited knowledge about BTCitcoin and I was just following a bunch of tutorials from a certain Facebook group.
January 09, 2022, 03:12:30 AM
I think the biggest mistake is that I sold part of the btc in 2017 and bought some shitcoins that lost all value in 2018.
If I hadn't done that I would have a lot more btc now but on every mistake we can learn.
mine is not buying again after making a profit from the 2017 ATH. it was one of my biggest regrets in my time knowing cryptocurrency. if only I didn't get scared at the time I would have been able to gain profit again when the price of BTC started rising again. anyway, there really is no point in me dwelling on it. If I hadn't done that I would have a lot more btc now but on every mistake we can learn.
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