Good explanation and I agree with the OP, but for a genuine Newbie, point one and point two already represent almost all aspects of the cause of the defeat of newbies who are trying to get rich in cryptocurrency.
They don't really understand the risks of Bitcoin. This high risk is often forgotten and not even studied because they only know something fun from other people.
Supposedly, we must learn about what difficulties are felt when we want to be successful in the cryptocurrency world.
Take a wise decision after Newbie knows the basic knowledge about Bitcoin and cryptocurrency.