Ninjastic
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Board Economics
Re: Five common mistakes made by Bitcoin users
by
Sum24
on 30/01/2018, 20:06:44 UTC
Quote from: berrymenalo on January 07, 2018, 07:41:05 PM
Quote from: aardvark15 on August 31, 2017, 09:27:32 PM
Quote from: defined on August 31, 2017, 08:54:07 PM
Quote from: Mr. Tan on August 31, 2017, 01:07:08 AM
1. Do not remember electronic wallet password
2. Do not back up your wallet
3. Do not research new services
4. Buy and sell based on feelings
5. Leave your money in the electronic money floor
6. Waste time on faucets (we all did)
7. Collect dust and pay high fees on it
8. Leave coins in an exchange
9. Trust the wrong people and get scammed
10. Panic at a price correction

I've done 4, 6, 7, 8, and 10. I also did "Panic Buy" which is not on the list. What I mean is buy after the price jumps up because you think you are going to miss out, then the price drops.

I'm sure most of us have made a lot of mistakes in the past. The best thing is to learn from them and try to make the best of it going forward. And you can still make a profit even if you lose money on mistakes as long as you keep working on it.

The panic buy is a pain in the ass  Cheesy Undecided I've definitely fallen for it once or twice. Always tends to be okay in the long run though. Number 4 and 10 are definitely the two that have gotten me.
It takes time and they should understand it as you said; they lose patience and sell bitcoin so yeah it is huge mistake that most of the people use to do, they become impatient for fast and quick profit, some new users use to buy bitcoin but they are not much experience or they are new so they don’t wait for price to get a bit down buying high and selling low is one of the greatest mistake.