Things I wish I knew before starting my crypto journey

FloridaKid

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Quote from: vapourminer on August 18, 2021, 09:44:04 AM

Quote from: Skinny48 on August 18, 2021, 09:24:38 AM

Shit happens and we got to move on, I wish I knew about BTC before going for shitcoins, I never learn about BTC instead I went after shitcoins end up wasting many years for nothing but we learn the hardest way some times

the bolded part is kinda surprising, i would think bitcoin would be the 1st hit in any search about "crypto".

i agree with everything else, alts are largely a way to lose money. and i learned the hard way too, although i started in bitcoin i got lured into alts for a bit.

Nah it's not, as a newbie in 2017 BTC looks overpriced to many so we all dreamt of getting a new coin that can later increase like BTC, almost all newbies then did this and ICO craze was ongoing that time too, price per BTC was why many looked for other coins

vapourminer

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what is this "brake pedal" you speak of?

Quote from: Skinny48 on August 18, 2021, 09:24:38 AM

Shit happens and we got to move on, I wish I knew about BTC before going for shitcoins, I never learn about BTC instead I went after shitcoins end up wasting many years for nothing but we learn the hardest way some times

the bolded part is kinda surprising, i would think bitcoin would be the 1st hit in any search about "crypto".

i agree with everything else, alts are largely a way to lose money. and i learned the hard way too, although i started in bitcoin i got lured into alts for a bit.

Skinny48

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Shit happens and we got to move on, I wish I knew about BTC before going for shitcoins, I never learn about BTC instead I went after shitcoins end up wasting many years for nothing but we learn the hardest way some times

Anguwa

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Cryptocurrency is vast and it's becoming one of the most important sector in the entire life of people due to the inpact digital currency in the world. There are many things one needs to learn about crypto, which involves deep knowledge about blockchain, exchanges, crypto market etc. But nevertheless this forum became the real Chanel for learning more about cryptocurrency.

Gorosden

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A lesson have been learnt, for long term holding it's safer to use decentralized wallets that gives you your private keys or recovery seed, I made such mistake years back as well but the amount I lost to centralised wallet isn't something to write home about

isaac_clarke22

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Quote from: XUR_TIP on August 16, 2021, 02:32:32 AM

~

Not sure if I would experience the same as you if it was Bitcoin for me back in 2013. Maybe I could have forgotten that I bought 10 BTC that year when it was still like still around 10-15 USD.
Pretty sure I would be locked out as well if I was holding it in a custodial wallet.

XUR_TIP

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Quote from: libert19 on August 14, 2021, 02:22:45 AM

Quote from: XUR_TIP on August 14, 2021, 02:05:13 AM

Quote from: libert19 on August 13, 2021, 09:41:01 PM

Can you elaborate on how did you lose your doge with freewallet?

I can't log into my free wallet anymore, I tried contacting the team but they aren't helpful I'm 100% sure that my email and password is correct because I always jot them down in my book, also I don't share house with anyone I live alone

Since when you are unable to access it? Is it since doge price rose a lot or long before?

It was before Dogecoin pumped in 2021, I'm talking about years back when Dogecoin was so worthless, free wallet is actually a scam because after few research I found out that many others are also a victim in such way, they can't log into their accounts again

Gorosden

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Quote from: CryptopreneurBrainboss on August 15, 2021, 04:46:51 AM

Quote from: XUR_TIP on August 13, 2021, 02:33:42 AM

If I had a teacher in 2017 maybe I would have escape some of this mistakes? but I had no one and thankful here I am today still standing strong

I pretty you sure you did but decided to just ignore them. You're not the only one making this assumptions, many of us that lost our ways in the very beginning all have this regrets. You had other people experience that was there to guide you but chose to ignore. You can't tell me you didn't see all the warning that was and is been shared/posted all over the internet saying not your private key not your coin.

If you were that active in the industry then you should have come across one but that's in the past now. You don have put the blame on anyone. Accepting the fact that you made a mistake is the first steps of not repeating that mistake. Today there are similar mistakes waiting for ignorant individuals, one of those is not investing in Bitcoin now but chasing after the NFT crab and the memes bullshit with investment mindset.

Those engaging themselves in this will regret later and words like your quoted statements will emerge from their mouth. Lucky for you you realize your mistakes and yes we're still early. Many still haven't realized that they're are wasting their precious time and money on things that won't be worth much in 5/10 years from now.

How about making those money from NFT and putting them back into BTC? I believe this is the best thing everyone should be doing right now, NFT projects are booming yes they can help bring good gains too but BTC is standing very tall over other projects

CryptopreneurBrainboss

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Quote from: XUR_TIP on August 13, 2021, 02:33:42 AM

If I had a teacher in 2017 maybe I would have escape some of this mistakes? but I had no one and thankful here I am today still standing strong

I pretty you sure you did but decided to just ignore them. You're not the only one making this assumptions, many of us that lost our ways in the very beginning all have this regrets. You had other people experience that was there to guide you but chose to ignore. You can't tell me you didn't see all the warning that was and is been shared/posted all over the internet saying not your private key not your coin.

If you were that active in the industry then you should have come across one but that's in the past now. You don have put the blame on anyone. Accepting the fact that you made a mistake is the first steps of not repeating that mistake. Today there are similar mistakes waiting for ignorant individuals, one of those is not investing in Bitcoin now but chasing after the NFT crab and the memes bullshit with investment mindset.

Those engaging themselves in this will regret later and words like your quoted statements will emerge from their mouth. Lucky for you you realize your mistakes and yes we're still early. Many still haven't realized that they're are wasting their precious time and money on things that won't be worth much in 5/10 years from now.

Refrumatrix

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It's good you learn from your mistake, making mistakes is normal in human lives in fact it's what makes every works out but that's for those who learnt from their mistakes, without mistakes there won't be any thing to correct, I don't take my mistakes so serious anymore they are just gradual process to something better

Rengga Jati

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Quote from: XUR_TIP on August 13, 2021, 02:33:42 AM

-snip-

This may be a bad experience. But at once, it is a very worthy lesson to have.
Although it must pay lots, at least you are aware of something fundamentals here.
Doing something without knowing or understanding it deeply at first will be very risky.
Many people may also feel the same when they are getting hyped in several coins and lose money.
Because now you have been aware and you have known about this forum, you can find out many more information related to crypto. Learning by process and experiences is worthy, but we must be smart in taking the decision after that bad experiences, what to do right now and in the future,.

pawanjain

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Quote from: XUR_TIP on August 13, 2021, 02:33:42 AM

I had no one and I was so determined to find my ways around and here are the costs

1. In 2017 there are many new altcoins mostly PoW coin and I was so hooked to finding the next big thing another projects that will be like BTC and ETH so I started mining every new coins I saw, as time goes by 95% of those coins end up worthless, I was just luck that few ones survived ( havven protocol, electroneum, Loki)

2. I don't know that with underclocking and overclocking can make you safe power consumption on rigs, I just insert GPU in motherboard and start mining , sadly I did this for two years

3. I never knew that some GPUs are better than the other, I went out to computer store nearby and buying whatever I could get my hands on, HD7770, HD6950, GTX 660 etc

4. I even store my coins on wallets like Free wallet which is a very bad one, never knew about centralised and decentralized wallets, I ended losing 1 million doge coin to Free wallet

If I had a teacher in 2017 maybe I would have escape some of this mistakes? but I had no one and thankful here I am today still standing strong

It's a good thing that you realize what were the mistakes you did. Not repeating the same mistakes is where many people fail.
Even I have made some mistakes and learn from it. Although we make mistakes, learning from them is a skill that everyone should develop.
Below are some mistakes that I did and I wish I knew it before I did them.

1. Investing in Ponzi scheme (Bitconnect)
2. Investing in Pump and Dump (Back in 2017, in the ICO era)
3. Trading without knowing about the coin
4. Not buying the dip (Learnt it last year, improvised by buying the dip this year)

Rikafip

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Thing I wish I knew at the begininng? I wish I knew that there is nothing wrong in first having fraction of Bitcoin, but I can slowly accumulate. If I knew that, I wouldn't waste my early crypto days on shitcoins. Then again, friends around that started around the same time were newbies too so I didn't really have anyone trustworthy to give me couple of advices.

2nd thing I wish knew more about is importance of security and all the dangers that lie, as back in 2017 I was a victim of phishing attack and lost almost everything. I guess it was just a school a had to pay.

sapnu

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Quote from: XUR_TIP on August 13, 2021, 02:33:42 AM

I had no one and I was so determined to find my ways around and here are the costs

1. In 2017 there are many new altcoins mostly PoW coin and I was so hooked to finding the next big thing another projects that will be like BTC and ETH so I started mining every new coins I saw, as time goes by 95% of those coins end up worthless, I was just luck that few ones survived ( havven protocol, electroneum, Loki)

2. I don't know that with underclocking and overclocking can make you safe power consumption on rigs, I just insert GPU in motherboard and start mining , sadly I did this for two years

3. I never knew that some GPUs are better than the other, I went out to computer store nearby and buying whatever I could get my hands on, HD7770, HD6950, GTX 660 etc

4. I even store my coins on wallets like Free wallet which is a very bad one, never knew about centralised and decentralized wallets, I ended losing 1 million doge coin to Free wallet

If I had a teacher in 2017 maybe I would have escape some of this mistakes? but I had no one and thankful here I am today still standing strong

All the mistakes and all the regrets will only bring you frustrations. Indeed things could've ended better if you chose doing the things you've mentioned and learn about stuffs that could have helped you a lot. Nevertheless, the fact that you are still standing strong amidst all those circumstances you've face is already something you should be proud of. It is not too late to do the things right this time as you learn from the past. There are a lot of people out there who chose to just give up as they experience failure but little do they know, they still got chance and time to get back up and regainn or even benefit more after the mistakes they committed.

Dewi89

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Quote from: acroman08 on August 14, 2021, 07:42:08 AM

this is why it is extremely important to do your research first before investing in something. a lot of people made the same mistake and that is fine what's important is the lesson you have learned from it.

The more things we do in the crypto journey will be a good experience to explore deeper in the cryptosphere, although I often make the same mistakes but I enjoy progressing towards success in crypto investing.

acroman08

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this is why it is extremely important to do your research first before investing in something. a lot of people made the same mistake and that is fine what's important is the lesson you have learned from it.

Quote from: XUR_TIP on August 13, 2021, 02:33:42 AM

If I had a teacher in 2017 maybe I would have escape some of this mistakes? but I had no one and thankful here I am today still standing strong

Good for you, a lot of people would have given up and would avoid cryptocurrency after experiencing bad things in it. learning from the mistakes you made in the past will be the foundation for your success. I hope you can achieve the success you are looking for on your journey in the cryptosphere.

Luffygroove

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First of all, I'm sorry for the things you faced before and I hope all got repaid better. Regarding your thread title, I wish I knew that I can't just HODL-ing my assets and give 100% percent of my trust to the developers although they seem working hard for the project. I've lost my thousand dollars back then in 2018 when a project called Rebellious (REBL) decided to change its development direction and then gave up eventually. I should read the signs and should have the bravery to say stop when it's necessary. Well, I can only regret it but at least I have a lesson for my current and future investment.

traderethereum

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Sad to hear that but I believe that you have another chance to start again, even from scratch, because I am sure your journey just begins now.
You have experience before, making you grow and understand that learning more will be necessary to find ways to help you gain profit or knowledge from crypto.
You do not have to give up right now because you can start again and use all the things you still have to make a profit.
Many of us have almost the same experience as you, some of us have worse experience but we do not give up instead keep trying to rise and try to make money.
I know you can do that and all you have to do is believe in yourself that you really have the power to change from zero to hero.

libert19

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Quote from: XUR_TIP on August 14, 2021, 02:05:13 AM

Quote from: libert19 on August 13, 2021, 09:41:01 PM

Can you elaborate on how did you lose your doge with freewallet?

I can't log into my free wallet anymore, I tried contacting the team but they aren't helpful I'm 100% sure that my email and password is correct because I always jot them down in my book, also I don't share house with anyone I live alone

Since when you are unable to access it? Is it since doge price rose a lot or long before?

XUR_TIP

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Quote from: libert19 on August 13, 2021, 09:41:01 PM

Can you elaborate on how did you lose your doge with freewallet?

I can't log into my free wallet anymore, I tried contacting the team but they aren't helpful I'm 100% sure that my email and password is correct because I always jot them down in my book, also I don't share house with anyone I live alone

Topic: Things I wish I knew before starting my crypto journey (Read 419 times)