The fear of losing bitcoin... - page 3.

Dzwaafu11

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Quote from: Nwada001 on May 03, 2023, 02:31:22 PM

The problem sometimes is not introducing someone to Bitcoin; it's all about who those people are and what you told them from the beginning of your introduction to them.

If you are the one who introduces them to Bitcoin, then you are really at greater risk of not having a peaceful life, especially if the price goes sideways. Someone who has already started disturbing your chat and calling you to ask you if Bitcoin will survive or not is a typical example of someone who doesn't believe in the currency and only invested their funds because someone asked them whether they were liable for taking a risk.

Your arguments are convincing, mate, which is why even when my friends ask me for advice or to teach them how bitcoin investment works, sometimes I feel let down because I know that even if I succeed in teaching them, they won't agree with how it functions—for example, whether they should take the risk or not. They frequently tell me that the risk involved in bitcoin investment is something they should not risk investing their money in And I walk away from them because I can't make them make the investment so I can have peace of mind. I fully permitted them to make another investment instead because they don't understand the risks associated with Bitcoin investments, so I ask them to go to another job since I don't want to bother them.

loopes

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Quote from: Dr.Bitcoin_Strange on May 03, 2023, 02:43:12 PM

Quote from: Godlovesyou on May 03, 2023, 02:12:00 PM

most people can not stay a moment without panicking. A colleague of mine who have Minuit bitcoin has buggy me with chats and calls to update if bitcoin will survive this years, why can't people know what you're engaging into first before diving into it and start acting like a child. Different set of people are into this bitcoin, even people don't have investment are making noise of bitcoin price collapsing.

But come to think of it many have bitcoin in B figures but you can't hear them making noise but people with $30 will not allow you to rest especially if you're responsible for introducing them. Bitcoin will rise when is due to rise, remove fear and plenty rumors.

Well, about that, every person is not the same; those kinds of experiences occur usually during their earlier stage of knowing and investing in Bitcoin, but as they continue to read, learn, and understand more about Bitcoin price history and market volatility, they will still get used to the process. Some of the old Bitcoin holders have really been familiar of the whole process and how Bitcoin works, so that's why you will not see any of them coming to brag about how many Bitcoin they hold because it can even expose them to some hack attacks.
-snip-

can not doubt with you, people who are new in investing bitcoin will have those kind of emotions such as panic about the market volatility, worrying to their value of bitcoin investment, unstable emotion, and etc. But as far i know, investing into the cryptocurrency requires patience at least a mid - long term plan. So, it is importat to have a rational mindset, stay looking for information update, being more patience, making a loss limit plan, and etc.

Sandra_hakeem

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Hehe .... It's appalling to have HODLERS panic too much about the certainty of Bitcoin and how durable it could be...
It aches to my marrow when I'm being asked some questions like that; I don't like convincing those naive set of people to the truth.... sometimes, coupled with that fact, this questions paves a pathway in me -- haven't they been well tutored on Bitcoin already before they invested?? If no, what was the motivation then? Cus nobody would sink in money in something he/she isn't sure about.... To avoid unnecessary questions when the price tends to swirl, then we must be well taught.

Sandra 🧑‍🦰

Cookdata

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Quote from: Godlovesyou on May 03, 2023, 02:12:00 PM

I have seen and witness people involving in bitcoin, most people can not stay a moment without panicking. A colleague of mine who have Minuit bitcoin has buggy me with chats and calls to update if bitcoin will survive this years, why can't people know what you're engaging into first before diving into it and start acting like a child. Different set of people are into this bitcoin, even people don't have investment are making noise of bitcoin price collapsing.

But come to think of it many have bitcoin in B figures but you can't hear them making noise but people with $30 will not allow you to rest especially if you're responsible for introducing them. Bitcoin will rise when is due to rise, remove fear and plenty rumors.

Lack of orientation is the problem, people now are days come with the common knowledge of Bitcoin and when their expectation doesn't align with the reality they saw with Bitcoin, that is when fear comes in and they start panicking. Your friend obviously doesn't have a proper guide about how Bitcoin works otherwise, he wouldn't be bothered about how the performance has been this year or how it will go this year, there is much in Bitcoin you can enjoy rather than just the usual buying and selling but adequate knowledge is what they lack.

You are also making it look like you are belittling your friend, I mean $30 is big money to some people and the fact that it is his hard earned money, you shouldn't make it look as if the guy didn't make an effort and besides, you have to try the little you can afford to lose so you don't regret later. Next time you want to introduce someone to crypto, tell them what they need to know, not the usual sugar coating and hype.

palle11

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Quote from: Godlovesyou on May 03, 2023, 02:12:00 PM

I have seen and witness people involving in bitcoin, most people can not stay a moment without panicking. A colleague of mine who have Minuit bitcoin has buggy me with chats and calls to update if bitcoin will survive this years, why can't people know what you're engaging into first before diving into it and start acting like a child.

This is normal with new investors and probably you did the same Grin

because you are trying to see how secured your money is in such investment. You can only feel safer with bitcoin investment if you have understood its technology and probably have witnessed a halving. Bitcoin critics like warren buffet and more will also have such fear when they invest in bitcoin Grin

Quote from: Godlovesyou on May 03, 2023, 02:12:00 PM

But come to think of it many have bitcoin in B figures but you can't hear them making noise but people with $30 will not allow you to rest especially if you're responsible for introducing them. Bitcoin will rise when is due to rise, remove fear and plenty rumors.

Is more like an empty container makes the loudest noise because it is empty indeed. So those with huge bitcoin investment would hide themselves away from people so that you don't know they worth that high but usually people with low investment and income always want recognition. This is a circle of how it goes with finance.

Rruchi man

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Quote from: Godlovesyou on May 03, 2023, 02:12:00 PM

I have seen and witness people involving in bitcoin, most people can not stay a moment without panicking. A colleague of mine who have Minuit bitcoin has buggy me with chats and calls to update if bitcoin will survive this years...

Sometimes people ask you this questions not just because they want to follow your answer, but because they want to validate their opinions and decisions. They already have an answer and opinion in mind, but they just ask to know what you have to say as someone who is more experienced or have more knowledge about crypto than they do.

Quote from: Godlovesyou on May 03, 2023, 02:12:00 PM

why can't people know what you're engaging into first before diving into it and start acting like a child.

Don't get upset when someone ask to get your opinion as the more experienced person, rather encourage them to trust their opinions and not always seek validation from others. Some opinions can be lead you wrongly.

Obari

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People with such intentions people will never get any better results in life even outside the bitcoin trade because they will never be patient in whatever they do
The mistakes people make today is that they were never guided fully before engaging in whatever they do
I believe the reason but get anxious when investing is that they always want to win neglecting the challenges and risk at hand and when they encounter lost they speak bad against bitcoin to be a scam
Proper introduction of bitcoin is important so as to enable a newbie what lies ahead

Razmirraz

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A newbie resolve can waver very quickly when the media spreads negative news about Bitcoin, the small correction that occurs can make him scared and start thinking that he will lose some of the money invested in Bitcoin. The level of courage of investors who are new to Bitcoin is very diverse, some are resilient even though the wave is receding, some are starting to panic due to negative issues.

Those who are told about the benefits of investing don't fully understand the conditions that occur with Bitcoin, naturally they panic at the beginning of their journey. There is no guarantee that you can get profit on Bitcoin as you wish, especially at a predetermined time, market conditions really determine which direction you need to pay attention to, sell by taking the risk of loss or holding out until the price moves up again.

Iroh

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Quote from: Godlovesyou on May 03, 2023, 02:12:00 PM

But come to think of it many have bitcoin in B figures but you can't hear them making noise but people with $30 will not allow you to rest especially if you're responsible for introducing them. Bitcoin will rise when is due to rise, remove fear and plenty rumors.

If you come to think of it, people with their precious and hard earned $30 probably don’t have billions and can’t afford to lose their 30 bucks hence their fears you classify as noise making. If you’re responsible for introducing them to bitcoin, then I think it’s on you and you just have to deal with their noise making.
For your colleague, I think you should plainly let him know you don’t know nor control the life expectancy of bitcoin and that’s why you don’t know if bitcoin would survive another year.

Learn Bitcoin

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Quote from: Godlovesyou on May 03, 2023, 02:12:00 PM

But come to think of it many have bitcoin in B figures but you can't hear them making noise but people with $30 will not allow you to rest especially if you're responsible for introducing them. Bitcoin will rise when is due to rise, remove fear and plenty rumors.

It depends on how it sounds when you introduced Bitcoin to them. It depends on the purpose of introducing Bitcoin to them. If it was like oh hell yeah, this is Bitcoin, and this is going to give you xx times profit, and you will be rich. Bitcoin will make you rich if you invest. Well, I won't introduce Bitcoin to anyone saying such kind of things. I would say this is a currency which has some negative and positive things. Bitcoin is great for privacy and it gives you full access/control over your money.

You can send it to whoever accepts Bitcoin without involving any 3rd party. Moreover, it is very much volatile. Sometimes it's price increase a lot and sometimes it decrease a lot. You can take advantage of this volatility as well. You can take profit once it's price increase and buy back again when it's price decrease. That's how you should introduce Bitcoin to your friends.

SOKO-DEKE

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Quote from: Godlovesyou on May 03, 2023, 02:12:00 PM

I have seen and witness people involving in bitcoin, most people can not stay a moment without panicking. A colleague of mine who have Minuit bitcoin has buggy me with chats and calls to update if bitcoin will survive this years, why can't people know what you're engaging into first before diving into it and start acting like a child. Different set of people are into this bitcoin, even people don't have investment are making noise of bitcoin price collapsing.

For a newbies acting in that way I may say it is normal given that they are new to the field and may not have acquired any experience that would make them less anxious.Investors occasionally experience panic attacks because they have invested money they cannot afford to lose in the belief that by doing so, they will swiftly succeed. As a result, when market conditions are unstable, they become extremely concerned about their investments' value.

Quote from: Godlovesyou on May 03, 2023, 02:12:00 PM

But come to think of it many have bitcoin in B figures but you can't hear them making noise but people with $30 will not allow you to rest especially if you're responsible for introducing them. Bitcoin will rise when is due to rise, remove fear and plenty rumors.

If we observe the keep the cryptocurrency industry well, we are going to notice that the majority of people who invested very little money in bitcoin and keep complaining that the market is not moving they are mostly newbies who mistakenly believe that investing in bitcoin will help them achieve their goals quickly based on possible indoctrination from others who have no knowledge of the Bitcoin and hype it for them

Davidvictorson

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Your friend in this story should be shown some empathy. It is almost like the join now and learn later thing. Probably the person who introduced your friend into bitcoin simply told him that the price was low and he should quickly buy at that time instead of waiting until the prices skyrockets high. After he has bought, he can thereafter go and learn all that it takes to know you should know about Bitcoin.

Secondly people who invest the lowest amount in Bitcoin and are worried about the price drop or increase are just doing so because they might have used the money they knew that they could not afford to lose to invest in maybe their widow's mite and they know it would spell doom for them should they lose it or borrowed money. They are usually the first to sell when the market crashes. I believe they are called weak hands.

traderethereum

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People who want to jump into investing in bitcoin should be able to learn more about bitcoin.
They can ask the people who introduced bitcoin to them so they don't go in the wrong direction in investing.
But in reality, many people cannot hold bitcoins for many reasons and in the end, they sell their bitcoins instead because they don't think the price of bitcoins can go up and down at any time.
Those people didn't research before buying bitcoins and just followed what people they didn't know told them.
It was their own fault and we don't need to be responsible for anything to them but it turns out they come to us and ask for an explanation as if we were the ones who taught them bitcoin.

Bobrox

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Some people looks like hype invested in Bitcoin, when many people talking about bitcoin and trending on twitter or many social media platform all people talk about how profitable when investing bitcoin without try to learn basic or fundamental about Bitcoin. I think realistic with many people exactly for beginner panic moment when investing in bitcoin and price drop suddenly. They don't have enough knowledge about bitcoin recovery history price and seems selling on lower price is the best option before bitcoin going more down again.

Stop panic with when investing in bitcoin and never take care what happen with bad news publishing by some country or any community how to make bitcoin will going dump.

Gallar

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Quote from: Godlovesyou on May 03, 2023, 02:12:00 PM

I have seen and witness people involving in bitcoin, most people can not stay a moment without panicking. A colleague of mine who have Minuit bitcoin has buggy me with chats and calls to update if bitcoin will survive this years, why can't people know what you're engaging into first before diving into it and start acting like a child. Different set of people are into this bitcoin, even people don't have investment are making noise of bitcoin price collapsing.
~

That's the problem, many people immediately start investing in bitcoin without learning about it first. Things like this are a fatal mistake, because you could immediately experience a loss, because you panic when you see market prices that are falling and not going up. Usually people like that are people who don't have long thoughts, only hear that other people can make big profits through bitcoin, immediately buy bitcoin without studying their knowledge first. So it's certain that people like that will panic when the price declines, even though if bitcoin declines, it won't take long, and it will definitely rise again. but because you don't study bitcoin as a whole, the result is a lot of anxiety, negative thoughts when investing, and all of that is not a good thing when investing in bitcoin. So for beginners, don't be too hasty if you want to invest in bitcoin, learn and understand it first, after that you can start investing in bitcoin.

Kelvinid

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This is the result for someone who just dives into an investment that they are not familiar with and definitely know how about it.
Perhaps, people are screaming when seeing the price dump and speculated badly but guess what, they are too noisy then and proud when they got a huge profit from Bitcoin.

People who uncertainties on their life about their investments will be meant failing in the end. That is why before investing in Bitcoin, we must also aware of the consequences that we possibly encounter. We shouldn't take this easy as it was not and avoid negative thing that will affect our goal and decisions.

demonica

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Some beginners may tend to be like that since their money is involved, and it's normal. Perhaps that colleague of yours must be new to investment— not just in crypto since if a person is familiar with investments, I don't think he'll keep bugging you about how's it going from time to time. People with other investments aside from crypto knows that it takes time for your money to grow.

And if you're (OP) the once who introduced Bitcoin to that person, you can tell him what you've said here that it will rise when it's due to rise. It won't change drastically with a short period of time. He can monitor the price every time he wants but panicking about it's value and movement won't do good. If he's bugging you so much, be honest and tell him about these things.

lovesmayfamilis

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I do not believe that people call you regularly and ask about the price and what to do next. History is made up.
But what people may be worried about is that these people who have invested their last $30 are very poor. If you are writing about this OP, then you should understand this. Volunteering, as some here think, helps spread the word about Bitcoin but is not always beneficial.
Talking about investing in Bitcoin and quick profits often do not end with talking about the fact that not everything always goes as the investor would like. But people who invested their last penny are rightly worried, thinking that in the end, they will lose it too.
Therefore, if you take on the responsibility of teaching people and campaigning for investment, thinking that you are helping them, you must see who is in front of you. And if these people are poor, and they have nothing to invest that they could not lose, they do not need to give any "useful" advice.

acroman08

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Quote from: Godlovesyou on May 03, 2023, 02:12:00 PM

A colleague of mine who have Minuit bitcoin has buggy me with chats and calls to update if bitcoin will survive this years, why can't people know what you're engaging into first before diving into it and start acting like a child. Different set of people are into this bitcoin, even people don't have investment are making noise of bitcoin price collapsing.

I'm curious, are you the one who introduced your colleague to Bitcoin? if you are I think you at least have the responsibility of educating/informing him(at least that is what I think) about price fluctuation and how often they happen and high or low they flactuate, but if not, tell your colleague to do his research on the market he invested on. but then again, it would be a nice gesture to help him out.

ultrloa

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Quote from: Godlovesyou on May 03, 2023, 02:12:00 PM

I have seen and witness people involving in bitcoin, most people can not stay a moment without panicking. A colleague of mine who have Minuit bitcoin has buggy me with chats and calls to update if bitcoin will survive this years, why can't people know what you're engaging into first before diving into it and start acting like a child. Different set of people are into this bitcoin, even people don't have investment are making noise of bitcoin price collapsing.

But come to think of it many have bitcoin in B figures but you can't hear them making noise but people with $30 will not allow you to rest especially if you're responsible for introducing them. Bitcoin will rise when is due to rise, remove fear and plenty rumors.

Normal feeling for people to get feared for losing their bitcoin and I also find this as healthy thinking since for having this thoughts you will be more careful upon throwing your capital on some investments around offer some good return of profit to their investors. Also aside from having that thoughts try to learn from past experiences since this could bring more knowledge to us upon taking good decisions especially when selecting good option to invest with.

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