Topic: The fear of losing bitcoin... - page 4. (Read 493 times)

This is the umpteenth time that we have heard, that investing without knowledge is wrong and trying to invest based on solicitations from other people is very wrong behavior, in the end they are the ones who are responsible for this hasty decision. Your whole story makes me conclude, that you are a beginner trying to give advice to other people about investing in bitcoin and you don't need to do that in my opinion?

There are conditions where we must stop advising people that bitcoin is the best investment for the future, the reason is clear how people can interfere with your time to focus on work, rest and leisure with family and I am more focused on increasing my own investment than introducing bitcoins to others.

That's why there is no reason or responsibility for people to introduce bitcoin to others, while information disclosure is very likely they get everywhere for now. Nothing is more important to them than finding out the basics of investing before getting involved and the tendency for people to choose bitcoins is based on what they know.

When you are present to introduce bitcoin to people who do not understand bitcoin then that is where you are responsible for giving the best advice for the investment they are making and to me that would be a waste of time.

I don’t know if you are the one that introduced him to bitcoin. If am introducing anyone to bitcoin, I always make sure they know everything about bitcoin price movement, when bitcoin was created the price that bitcoin was, how bitcoin started growing gradually and am always making sure I show them how bitcoin dumped in the early stage of Covid-19 pandemic and with time bitcoin bounced back and went to its all time high, so I always make sure I tell them about the current dip is temporary and with time the market will bounce back, but am not in control of bitcoin price, I don’t know when it will start pump and it might also dump more.

If you want to invest in bitcoin, just make sure you don’t listen to what people are saying on social media or you might end up losing interest in bitcoin, even people that know nothing about bitcoin will keep on saying bitcoin will die. From what I observe the main people that do shout bitcoin will collapse are the once that don’t have any bitcoin and the newbies that are just joining cryptocurrency.

If I introduced you to bitcoin and you invested just $30 and you are disturbing me that bitcoin will collapse or you keep on frustrating me about price movements, I will just sell your bitcoin for you and I will ask you to go and flex with the money, bitcoin investment is not for everyone.

Just tell them to dump their Bitcoin if it's causing them anxiety, why should they bother, these people are not ready to invest in Bitcoin, or somebody did not tell them to invest what they can afford to lose, people should be responsible on all their action when it comes to investing in Cryptocurrency I always tell people to just dump if they are having a hard time accepting that their portfolio is going down, so they will regret later.


They are not yet ready and they are investing for the first time, these people are not risk takers and they want easy money, if a guy comes to me whom I invited to invest, bothered me with his worry I will buy his Bitcoin with small interest, so he can save himself from worrying and myself from comforting him.

I guess it was just pretty common on newbies since they don't have an investment in Bitcoin they getting FOMO on the line which is why they don't want someone to get a huge profit if they are not on it as well. I feel FOMO sometimes but I always remember not to get greedy and control my emotions over it. I mean most of the time that is when you lose your money when you invest in something without any kind of plan just because you feel FOMO.

Teach them what Bitcoin is and then just let them decide whether they want to invest in it or not, make sure to teach them that it is a risky investment. If they are actually interested on it they will learn it if not they just gonna keep on bothering you so might as well just ignore them.

Well, disclaimers can only do so much. The moment people get emotional, especially about money, reason flees. Their minds suddenly become creatively tragic. That's sad but that's always true to the great majority of people.

Whether we admit it or not, investment is not something many are willing to risk. It isn't everybody's cup of tea. I mean, the real investment, the one with ROI but also with risks. People only love the good side of investment, when they make profit, but as soon as the market is in red, which is normal and healthy, emotions come in, clouds their judgement, and put you all the blame. They panic sell; they blame you. They buy back at a much higher price; they blame you. They forget that they're adults capable of making sane judgments.

Sometimes, we better be on our own. If others do what we do, they're totally free. They ask for assistance, we're always willing to lend a hand. But we don't suggest, convince, encourage, exhort them even with all the disclaimers.

With people who don't accept risk or ignore risk but only think they will get a rosy road with investment into something, Bitcoin or other assets, they are annoying with people who give them financial advice.

Me too. I am not ready to give advice to others and face with risk that they think I am giving them financial advice which can be used by those guys to blame on me for their loss. I am not ready to take such responsibility.

I can answer their questions about Bitcoin technically. How to buy, sell, store their bitcoins safely.

Informing them or teaching them about basic technical things are more interesting and meaningful in my opinion. If they ask me about Bitcoin investment, my first word for them will be "it's risky, don't invest in it if you can not afford to lose your money".

A next one is, "It's my thinking from my experience but you must be responsible for your decisions, actions since a day you invest in Bitcoin. Profit or loss, it depends on you, not me".

LOL! That's kind of normal to many people and that's indeed annoying. That's why I would rather avoid telling somebody to buy Bitcoin, especially if I know that he's the finger pointing kind of person. I don't want to get the blame. I'm willing to answer some Bitcoin-related questions, of course, but I seldom volunteer to teach somebody about it. Of course, I'm not an authority in the first place, but also because it's possibly that he/she will buy because of me and I know that when it comes to money people are very irritable. The price could fall and newbies could easily be affected.

Just relax, It's the same situation with me when entering Bitcoin for the 1st time. So, If one of them asks to you how to avoid that panic, tell them to just relax and forget about the price. Just give suggestions to them to take relax by singing a song or karaoke. If Have more money, take hiking to the mountain or go on holiday to the beach. I am really sure they will forget about it and happy ending.

or forget everything about crypto for about 5 years, and maybe there will be a big surprise after that.

People who become crazy whenever seeing the price drops, surely have no proper mentality as a trader or an investor. If they can't control emotion and always panic, they are better to stay away from Bitcoin investment or trading. Not everyone can be suitable for a high-risk thing like Bitcoin, it is for the person who has a strong mentality and knows well crypto market only.

Yep, investing around $30-$50 is a small fund, no need to worry as long as holding it until the bullish season. That amount of money won't bother our financial stability too, just forget it and check again in the next bullrun.

Why you went off the topic? You should be talking about the fear of losing bitcoin and you actually are talking about the fear of Bitcoin's price.

Because they are invested in something quite the opposite i.e. Stocks or Gold and they want users to join their investment and pump it up.

Bitcoin is a mathematical genius investment which requires patience and following of the infamous 4 year cycle.

There are several reasons why people do not investigate or Research into what they want to invest in and in the end of the day they'll begin to shout about being scammed.
 One of the reasons is because some people are lazy and they would like to be spoon-fed in everything they do including investment and financial management.
Another reason is because of trust. If someone you trust in real life introduces you into any Investments, they would not hesitate to participate, but most times things are not done so. Even the person you trust might not be aware of the negative aspect of the investments. So, investment is not just done solely based on trust but also research.

And finally, the major issue is the get-rich-quick syndrome. Some people will do anything possible to pay one and get two within a short period of time and those people are always victims.

I think people are mostly afraid or panic about things they don't understand enough. It's like when a new toy comes out and everyone wants to be the first one to get it, without considering whether they actually need it or not. They get caught up in the hype and excitement without fully understanding the risks. And let's be honest, some people just love to overreact and create unnecessary drama, especially when it comes to money.

That is so true. Some people go crazy when bitcoin price dropped deep, they always cry what if bitcoin goes out of market. How they will get back their money if bitcoin go out of market. But the funny thing is they only invested 50$ or 30$ in bitcoin 🤣

You shouldn't hold them accountable for investing their hard-earned money. It's normal to have certain concerns while making a new investment. He must have been afraid of losing them because, in addition to bitcoin, it frequently faced criticism from the general public. In spite of market volatility, only those with a prepared mentality who have done their own research on bitcoin and genuinely believe in it won't be afraid of losing their asset.


They remain silent about it because they are prepared to deal with whatever the market throws at them, and they are also willing to lose all of their money if volatility causes the market to trend downward. However, they are aware that the market will eventually recover, so they aren't worried by rumors.

This is definitely due to the orientation or narrative that was sold to those kind of people. Most of them were probably told that there are people that became millionaires with cryptocurrency and as such they relate such pump narrative to bitcoin. These set of people cannot hodl and those you see clearly checking charts and every hour. It is even easier for these people to fall into scams by those selling signals or people promising them to double their earnings through staking.

It is natural since it is there early days, but once they got use to it; if at all they don’t lose their funds before then, then they would also careless of the bitcoin price movement daily. This patience is only exercise by old bitcoins that have study bitcoin well enough or people that only invested an amount that is considered losable to them.
It is hard thing to guide people like this if they persist you tell them it is not always green on bitcoin and that the can’t get there millions from investing just few hundreds in short term.

It is normal for newbies to worry about the price of bitcoin. Most of them are fed by social media so they are filled with false news. This information leads to fear, uncertainty, and doubt, so you have to be prepared to tolerate their disturbance. The $30 that you feel is nothing might be someone's savings for many months,  so they don't want to lose their investment which is why they are also scared.

It is very important to educate people about the Bitcoin sector before you introduce them to the sector. Don't introduce the sector to them as a  because it is not. And they should be aware of the risk involved in bitcoin. After you are done with the teaching, don't force or persuade them to buy the coin, allow them to take the decision. Let them bear the responsibility for their investment.

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.

When talking about people you introduce to Bitcoin being a disturbance, it depends on how you introduce them. For example, if you really did not give them all the required information to help them, they would still be so clingy, but if you told them all the terms that are involved and also gave them some material to learn from, they would be more self-reliant. Some months ago, someone was talking about Bitcoin to their friends, and he asked them to invest in Bitcoin and wait until next year, when the Bitcoin price will be so high. So what if, during the next year, the Bitcoin price does not show positive growth? That means those guys will call the person who introduced them and ask him what is happening. So, it's always cool to define things for people when teaching them, if they really want to learn anything.

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.

It's because of emotion and FOMO. That's why if you're going to ask that friend of yours, he probably bought bitcoin because he's seen it during the all time high. He didn't make enough research about it and went directly on the search engines and typed "how to buy bitcoin".
Other than that, he did actually a research of how to buy but not with the characteristics of bitcoin and its nature as a volatile asset. We will always have that type of person that will be worried asking if bitcoin's already dead or if there's still a chance for bitcoin to recover. We do get a lot of that everytime the market don't look good.

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.