Quote from: Oasisman on February 14, 2023, 09:10:30 PM

Quote from: Outhue on February 09, 2023, 05:21:07 PM

What lesson could be learned from this?

If you are a altcoin investor, do not keep all your eggs in one basket, if you believe in an altcoin, make sure it's not the only one, in fact, the more coins you have in your portfolio the lesser the risk, because not all the coins will go bad or get hacked, if one out of 5 or 10 become successful, 6x to , 10x or more, you've made back your ROI and still have some gains.

I was wondering, what made him to just go all the way with this alt? Is he following some social media influencer? Or a blog article? Because, most of the time, we don't fully trust our own research, we always needed some more reviews and suggestions before we put our monet into a certain alt. But in your brother's case, he put all his money in this alt? Someone just influenced him with his decision.
I'm not familiar with that alt, but based on your statement, it looks like it's a bust or something like that.
That really sucks, he could've put it all in Bitcoin instead.

For what I can tell most people have already formed themselves an opinion of what they want to do, and when they look for an advice they only do so as a way to confirm their views, they are not really being influenced they just want to hear others expressing the same opinion as them, unfortunately this means that they will ignore the opinions of others which may warn them about the dangers of investing in a particular coin, and by the time they are willing to listen there is nothing they can do.