Topic: Understanding cryptocurrency - page 4. (Read 642 times)

That's what ruins people's views about crypto, it doesn't have a big impact on the market directly, but if many people do this and then expose it to the mass media it will certainly be a problem because it can make other people think crypto is just a kind of gambling, not an investment instrument.

if there is someone like that, give him access to learn more about crypto and learn more deeply. if necessary, invite him to enter this forum and learn together. when he really learns crypto it will definitely open up his narrow mind due to his losses in crypto trading.

The problem with the signals given by those who understand trading better is also not necessarily true. each person can have his own price speculation depending on how much he has studied everything. but it would be better to use personal speculation. Apart from being satisfied with the results, you will also not blame anyone.

If you are new to cryptocurrency it's important to learn how it works before investing or trading. Cryptocurrency can be risky and unpredictable, so it is compulsory to understand basics, risks and best practices before getting started. Story about the person who lost money in cryptocurrency trading and now warning others away is great example of why knowledge is power. Instead of blaming cryptocurrency people should take responsibility for their own lack of understanding and get guidance before making decisions. By doing so people can make good choices and avoid potential problems.

Though what you said is right, this topic has been discussed a thousand times or more in the forum. Those who understand everything from the beginning and have general knowledge would know what is right and what is wrong for them, and for those who don't, such advice or suggestions won't stop them from doing the wrong things that would make them suffer from losses.

Newbies, at least most of them, often get into this industry with the wrong mindset, they believe it's a space where earning money is extremely easy and one can earn a lot of money in no time from this industry, some even think that they can earn money without making any investments with cryptocurrencies because they have heard such things from here and there. These are the mindsets that make them make the wrong decisions.

Thanks for your information, countless time we keep telling newbies not to go into crypto investment without acquiring the knowledge but most of them neglected, just imagine after experiencing lose in the market he's now going around telling his friends not to go into crypto investment mean while he don't even understand the market very well before making investment, how did you expect profit to come when you don't even understand what you're doing maybe he just see people who benefited from crypto investment then he decided to give it a trial without even acquiring the knowledge.

Hmmm, considering your rank here, I will only say, try to contribute from your heart, not just because you want to create some topic to gain some attraction maybe (no offense) but this advise of your is so obvious although many newbies did make this mistakes no wonder how many times they are told. The point is, your way of explaining the context of the post is not so good. I hope you won't mind be saying this

It's because you could have used real life examples like some x trader started his journey and according to him at the start he made lose due to lesser knowledge. I Know you used this example but that's no proof who are you talking of, you should have give some kind of reference. I hope you got my point, next time try to add a little bit of efforts in the post thanks.

The problem with most beginners is that they were introduced to cryptocurrencies as a get-rich-quick project. They usually get their information from social media where these influencers try to cajole them to invest in a shitcoin. In some cases, these influencers pose with flashy cars and big houses claiming that they got all of them from investing in the crypto project. Out of greed, these people will put in their money only to lose it. Currently, there has been an increase in adverts in the crypto industry promising to make people rich from the bull run. The first thing I think newbies should fight is greed and the next phase is to do proper research before investing in any project.

Obviously, from the story that you gave, the guy is at fault because if he is going into trading and he wants to profit more in the future, then why will he have trust in signals? Every experienced trader knows that signals are just a scheme for lazy traders who are not ready to learn because anyone who will give a signal should go through an assessment first before giving it to you. And if he makes a mistake, then that will be applicable to all those to whom he gave signals, which means a loss for him is applicable to all of you that share the same signals together. 

So with proper knowledge, you will not be a victim of such an incident. That is why it is good to live even though you have been taught things. You should go and do other research in order to have diverse knowledge on it. That is why knowledge is never enough, but him telling his friend not to join it was not the right decision to make. He should have left them to go and have their own knowledge and see if they will succeed or not.

This is one mistake that we beginners always fall victim to. Proper knowledge and understanding is needed before going into anything, talk more of trading crypto currency. Being in a rush to trade just because you hear others making profit or because you were talked into it do not always end well. There is a saying "look before you leap", clearly the guy who lost in the trade is a beginner and he does not have full knowledge on what it is or how it works, leading to him losing his finances.
His advice to his friend is not a bad one because no good friend will see a house burning and then advice his friend to go inside, his advice was to save his friend from losing his money as well because he now have a wrong view of crypto currency due to the way he went into it.
This can also serve as a lesson to we beginners, let us all learn from this experience. let us all have a better knowledge about crypto currency before trading or investing in it.

Understanding that is a real certainty for anyone, not just beginners, anyone who wants to be active in the crypto world must understand everything, Whether it's volume, market, type of crypto you want to invest or trade, only experienced people need to do this.

For this reason, to understand all this, especially beginners, of course you need guidance from experts, don't rely on understanding from books or the internet, because crypto can change in an instant, for this reason guidance is needed, In many cases, last year's crypto was ranked 10th, but this year it could drop to 100th, this is a sign that we need to understand the development of crypto carefully and need those who guide it in a better direction.

Don't be embarrassed to ask questions in crypto trading, don't pretend to be good at trading without being an expert, you need detailed guidance to make good results.

This is a good story that will definitely be of help to some people but I wouldn’t blame you, as a newbie there is no better way you could’ve passed this and it’s probably because you yourself didn’t go through with your teachings. If you have taken proper time to study and learned how to compose and make posts we could’ve perceived the post in a better way and also the negative feedback on your profile didn’t say nice things about you and that you broke the forum rules probably because you prioritize learning before posting.

It is just as you said Op, no matter what you are doing or where you are it is better to first learn about it before getting into it fully. Cryptocurrency trading is a very difficult thing to engage in and without learning about it the possibilities if losing your money is very high and even when you have enough knowledge about it making profits is not guaranteed so one needs to be careful while trading cryptocurrency.

Losing is not always as a result of not following signals because signals can be wrong too and I wouldn’t advise a trader to rely solely on signals given by other traders instead they should learn and trade on their own believing their own signals and strategies. 

We cannot predict people because everyone of us is having a different mentality on the way we approach dealing with things, also this applies in the same hurdles of life, you will discover that the same road some trod upon will be the same others will have accident upon, many things could have been the reason for that, but we must always make sure that we don't by ourself constitute to the level of gravity on the calamity ahead of us, we could prevent them from happening if we had seen them coming than when we are not aware at all about their existence.

In trading, you need to experience losing before you gain and win a trade. It's not as fancy as people hear about from the stories of success in trading. Do not assume that just it had worked for them, it will work to you asap. It doesn't have to be like that because it takes time for one to learn trading. And if you're that type of following signals and completely reliant on it, you're trading the wrong way. Many of these signals have been proven and made to just take and milk your money.

Literally, everything seems to have a beginning, even an end. Programming itself has an introduction, which is literally for beginners who have picked up interest over time. Cryptocurrency also requires one to understand its fundamentals before associating their finances in the form of investment.

A person who has had a bad experience might not have gained the necessary knowledge that would have helped him/her in trading, though we know how complex trading can be, especially for those with zero knowledge. And again, those who discourage others from cryptocurrency are literally bad figures that cause limitation to a certain cryptocurrency adoption. Due to their negligence, they also want to tie others down with the wrong perspective.

That guy in question started with crypto in the wrong way. How can someone without any knowledge on cryptocurrency dive into trading immediately, it shows that he was decieved by those influencers on social media who lie to people how much they have made from people and flaunt their wealth on social media to lure people into subscribing for signals and the rest. You should not see bitcoin as a get rich quick scheme by trading, because you will run at big loss and start saying that bitcoin is a scam. Whereas, you were the one that wanted fast money and got scammed. The best way to invest in bitcoin is to see it as a long-term investment and hodli for long to avoid loss.

Telling his friends no to invest in the crypto after his experience isn't a bad advice if I may say, he doesn't just want his friends to fall victim as he has already had the experience.
Clearly speaking he's not knowledgeable about cryptocurrencies to understand how it works and choosing what best cryptocurrency for his quest via research and consultations.
It could also be that he was mislead probably by an inexperienced Investor or he was being influenced by the hype of those Memcoins which can be shitcoins or he felt to the pool of a scamming platform.

Indeed knowing much about how what you desires for works is very important and primarily considered to be a certification that can lead your way before you ventures in invest your funds.
We can actually learn by our mistakes but doesn't mean we should be relent from making things right just because we feel it's right to make mistakes with the option to start up again.
So I'm expecting this guy to go over on research to figure where his mistake came from and how he can fix it up. Thereby he'd definitely find it out that he thought it was just all about investing funds without the techniques of chosing wisely reputable and reliable coin such as bitcoin to invest on.
. there'd as well be other varieties by which he may have lost his funds possibly on the wallet by which he store his assets which can be carelessness to keep his seed phrase secured or stored in a fragile wallet which can be maliciously penetrated by hackers.
Op, you didn't State how he lost the fund so that such issue can specifically be addressed but I just hope he learns from his lessions and find crypto currency worth investing on and so him and his friends can as much come in to testify the goodness of crypto currencies.

Signals are scams. You pay for it and get used as props still to pump and dump random coins. It is a good thing that person lost early and got out quick. They obviously have a get rich quick mindset and were always going to part with their money.

edit; after going through your post history, you should visit threads after making them and join the conversations and do more reading than creating low quality threads.

- Jay -

Most times, in the crypto space alot of beginners rush into trading without fully understanding anything about how to go about it. I won't be surprised that this person telling his friends not to go into crypto just heard about it and decided to rush his luck of which failed. Though trading is risky and takes a lot of practices, there are still experts out there who understands how to go around the market. They make loses alot, but this isn't a reason for them to start pointing fingers for their failures.

If one isn't ready for anything he shouldn't rush because he hears that others are making good profits from it. Everyone has separate luck on different things. I have so many friends who are into different kinds of trading but I just decided to learn few ones im familiar with. Don't try to be like others, be yourself

In everything there is always a beginner, in political way there are beginner even in the crypto world 🌍 we still have a beginner, so as a beginners in crypto you should know how it works first before you get into it, there was a guy complaining that he lost in trading crypto, and he is telling some of he's friend not to go into crypto just because he lost and he didn't follow the signal, I just want to say that you need to understand how it works first before you start, thank you.