Greed is certainly not the only reason for failure on several occasions in investing, but there are many other reasons including the wrong mindset about how investing works. Insufficient knowledge and experience are also the reasons why they cannot generate returns commensurate with the risk, but on the other hand they want to get rich quickly. Some of them consider the high risk of investing, including investing in non-popular altcoins or altcoins that have low capitalization. Some of them succeed in this way, but many of them also lose.
Lack of knowledge is one reason. We've been there and done that and we're aware that it's the reason why we've lost a lot of money when we're still new.
And the misleading information of many influencers about how they look easy in making money when they're already established and comparing themselves to the newbies.
In short: avoid being greedy.
That's the main reason why many newbies are falling for those traps. They think that they've found some good investments that will generate them money easy and hassle-free.
But that's not what they know that these traps are set for them to fall. If they bite one, that will continue to suck the hard earned money that they've saved forever.
Non-crypto/Bitcoin and even related, this really applies in our lives. It's more likely a rule of money. Greed is always the reason why we fail or lose money. The best example is how Bitcoin came from its lowest to its peak price and still climbing, so if you are not being greedy along the road, for sure you are not losing money every dump happens.
Exactly. That's one of the general rule in life. While there are oligarchs that are greedy and makes a lot of money, there's still a return to them not financially but with their actual lives, if we believe in karma, that's what it explains it all.
If people (particularly newbies) listen to what is usually being discuss here, we would definitely have a minimal case of falling victim to cheap scams. Unfortunately, they turn deaf ears to all the warning and start running from one angle to another looking for help.
Greed is actually the genesis of most of the cases. They come here thinking that it's a shortcut to make easy money. If they now realised the reality, they'll now resort to looking for investment with high returns and eventually fall victim to scammers who are always on standby hunting for victims. If you can control your greed, you'll likely be saved from majority of the ongoing scams.
Many doesn't listen to the experienced ones and that's why they have to go through the harder way. But if just do, many will have to go through the better shortcut if they listen.
There are few that listens and they're the fortunate ones who are moving on better than newbies that don't listen.
