Post
Topic
Board Bitcoin Discussion
Re: Know your limit
by
Mahanton
on 16/02/2023, 22:34:18 UTC
Avoid ending up like a friend, who used all the money he has to invest in bitcoin and also took a loan, promising the lender that he will pay back when he gets paid in a month, after a month he never received the salary, I warned him doing this, because he has no doubt mixed investment with 'whatever it takes', is it safe to call this greed? I don't know.

Now he wants me to lend him some money to at least pay the loaner back and later settle me, there is more, now I have to send him some money to buy some food.

You don't have to use all your money to invest, even if you are not married yet or have other responsibilities, the best approach when planning to invest in Bitcoin is to buy with some percentage of the money you earning, maybe through business or a job.

If you do this weekly or monthly you won't feel any pressure, always remember that health is wealth.

In the first place, you don’t have to let your greed motivate you into investing. Investing has its own risks, so one should never invest with greed to the extent of investing all your life savings, or taking some loans just to invest. Those were a big NO in all types of investments. I just hope your friend is aware about this before he starts to invest. Now, he is facing the consequences of his dumb decision, and it’s up to you if you will help him or you will try to let him suffer the results of his own greediness.
When you are still noob then it cant really be denied that greed is something that you would commonly felt out on these kind of times on which you would really be thinking that you would really be rich for whatever things that you are intending to get involved with.This is really very wrong because when you do have this kind of mindset and beliefs on mind then you would definitely be ending up on lots of mistakes since you would really be that desperate for whatever things that you would be dealing with. Sooner or later you would be able to realize thats not how this thing works and you would find for yourself on what are the actual things needed
on making yourself that sustainable or able to survive specially into this unpredictable market.