Topic: Why will you invest in something you know nothing about? - page 2. (Read 2619 times)

Probably something that make more sense than usual. I almost get into the cryptocurrency world without any prior knowledge of cryptocurrency and Blockchain but made some investment with different platforms before I eventually joined this forum for more information about Bitcoin. Haven zero knowledge about a product doesn't matters only only if the product has a good prospect.

It is a usual Practice by new investors to ride the market and when the bitcoin market was on a bull run last time there were many who invested to ride the rally using credit cards and so on and they were the biggest loosers when the market started falling as they ended up in huge losses.

When i started investing in the ICO market i used to initially listen to people who i thought could be trusted but later found out they are shills and cannot be trusted and after that i never bother about the shit market.

The biggest mistake of the majority of investors.  Nobody cares about future plans, perspectives or even reading a whitepaper. The only things that everybody wants is to take part in Binance IEO and get solid money back.

On the other hand many people have earned in the same way. Many investors do not really know where to invest and I believe that it is impossible to know everything and take everything into account, that's why people ask for the advice of other, more experienced people. I believe that you need to trust but verify.

Shockingly, numerous individuals invest their cash, they themselves don't have the foggiest idea what, the explanation behind this might be the across the board publicity around the venture object, which may end up being a scam project .A great deal of errors with contributing emerge because of absence of information and people tends to loose their investment

I agree. It was too risky at any point of view getting into something even not investment on engaging into a thing you do not know anything about. Talking about investment, if you do not know anything about a certain project or cryptocurrency and you just keep on investing because your intuition, maybe you might be lucky to get a profit because of that move but a big probability to fail since you do not know anything about the platform you wish to enter. Investment is not a thing that people who do not understand or do not know anything about it must do. Doing investment also needs precautionary measures and thorough research as well as beinf able to understand how a certain cryptocurrency you wish to invest works. If you fail to understand and you do not have any knowledge about, then you are just risking your money for investment because more or less, the possibility of losing your money or getting into a scam is more likely to be 90% and the chance of a lucky guess on having a success investment will be just 10%. If that will continue, instead of gaining profit, you will be left behind paying debts or the worst case is that nothing will be left for you. So if you do really want to get into investment, better be knowledgeable enough to know more about it.

Which is as it should be, people do not really think a lot about the small amounts of money that they lose every day but if you begin to add them up you will begin to see that you are losing a significant amount of money and it is important to always look for the best value for your money, even if it doesn't seem like you're saving much if you do this regularly those savings will begin to accumulate.

And this is true in the market of icos, as you say back in those days people invested in anything and they didn't really care but after they lost all of their money they are understanding that if they did not invested in those useless icos then they will have that bitcoin and they will be enjoying greater profits so now they are more cautious with their investment strategies.

Whenever new life is born, it comes into contact with new things. Initially, your parents will guide you and then you arrive at school. At this time, the teacher will guide you. When we come to work, if we encounter something new. We flinch, and this will fail in your life later. You should learn to learn new things, so as not to stop halfway. Someday will succeed.

The reason why most people got failed because of there nonwise way of thinking. Most people will invest in anything when they hear something that can make money, but they never bother how the system will works. So if you really want to be succesful into something, learn to widen self understanding about investing into any kind of projects here. Some may state the goodness of their project but in the long run you are just being fool. To avoid scene like this, be mindful be wise of choosing so here I can suggest something that may work for you. The Aci coin which a worldwide Company Supports Ripple’s Real-time Transaction System.

Many people do not learn about something they want to do in investment because they only listen to the words of some observers who are not sure that they can benefit. they easily trust one person without learning it first. so many people who have lost assets after they invested in a project that ultimately could not provide benefits but losses they get.

It seems to me that in 2020 there were no longer those people who could invest their money in the blind. Such people simply ran out of money for 2018-2019.
In addition, the general intellectual level of the crypto community has significantly increased over the past year, due to the constant collision with scam projects and all kinds of deceivers.

there are people who are use to keep riding the pump though. they don't need to know anything about the coin or the project, all they need to know is that its pumping. and there are also who just listen to the users shilling a coin. you get rekt most of the time when you do this but there are pretty exceptional like the project SNX.
i didn't listen when somebody shills for this project, i just knew i would have bought more of it. still i have no idea about the project.

I always research my own investments before making them, and I certainly do not invest in an investment instrument that I do not know or doubt about its future.  I think that other people who make investments usually make uninformed investments and therefore lose money.  I usually say that people like these have dreams of making a lot of money with low budget in a very short time.

Never! That is like crossing the road without looking. It is just silly. You cannot profit without the required research. You as well wear a blindfold and throw your money in random directions hoping for the best.
It is much too random to work. I think people give into the hype a lot more then they do logic.

I personally only invest in projects where you can spend the token or coin that it is involved with. Why would I invest in something I cannot use? That is just speculation not fact.

Unfortunately, there is a plenty of unprofessional investors on the cryptocurrency market who are not interested in analyzing backgrounds of the projects they invest in. They just see an awesome growth and put money in which usually cause losses.

In some cases there are people who invests withoit any knowledge or idea in what they are trying to enter. Just like me. I dont know every single idea facts here about crypto but when I entered the crypto world thats when I started to observe, invest, read article and ask some members if this campaign is a real and legit one. But when I got my first earning, that was the time that I believe in crypto.

each investor has a different view or way before investing in cryptoqurrency. for me personally it does not matter if I invest with random coins, because what I will do is of course based on my research and beliefs. and maybe other users will do that too.

When the ICO tide was high, people invested into everything and anything. Didnt even see the team credentials or sustainability of idea or even the authenticity of the whitepaper/roadmap. They were all taken into the greed and put money in order to make a fortune. The market is allot clear now and people have started thinking before investing even 1$ now.

It doesn't sound right to invest on something you know nothing about even if its profitable, you need to learn the basics and understand where the money is coming from, might even be something you will turn against after learning more about it

I agree with you. We should really be aware of that. What we need to do is to make our own research then ask to a friend what we don't really understand. We should also invest our time forst before we invest our money so if a scammer will approach us them we know what to do.