Post
Topic
Board Speculation
Merits 3 from 2 users
Re: Buy the DIP, and HODL!
by
DubemIfedigbo001
on 24/10/2024, 05:55:54 UTC
⭐ Merited by Alphakilo (2) ,JayJuanGee (1)
Everyone is vulnerable to scam, the only causative attribute to being scammed is ignorance yet, and if the information is not passed already we are more likely to get scammed.
Not only ignorance, greed is one of the major traps we set for ourselves that helps scammers exploit us. Done people have such knowledge, but they're too greedy tho apply it where needed and as such are ready preys to month watering offers by scammers which directs them to the phishing sites. Avoiding public WiFi networks is also important as our data is very much vulnerable to the hosts of such network and also malwares can be injected into our devices over such network.

And no matter how informed you're, you need to regularly update yourself on security of your assets because scammers are getting crafty everyday and you wouldn't be safe for a long time banking on outdated knowledge

Quote
What about those who choose to invest in shitcoins, leaving out Bitcoin? It becomes not a call of ignorance but rather decisions based on wanting a lot of profits, too early and without doing much. Sometimes the knowledge is there but they choose not to implement them properly and often faced with consequences at the end.
Investing into Bitcoin is not a guarantee for you not to be security vulnerable, whether you deal in Bitcoin or shitcoins, if you leave out a security loophole, scammers would kick your sorry ass. Traders too exert maximum security measures so their accounts aren't compromised  because they have funds too that the scammers targets and the scammer is interested in your funds and not your investment choice.

If anew investor that has the mindset to only invest in bitcoin and hodli for long-term, and he stays focus on only buying every week or month whenever he gets his funds and focus only on that, he will hardly fall for scammers because initially he wil be keeping his bitcoin in an exchange for a while, and during that period, he can be learning on which wallets is the best self custody and open source wallets to safe his bitcoin. Cold storage, air gapped open source wallet is good and safe.

It is when a new investor does not stay focus on only building and growing his bitcoin investment constantly, but is looking for short cut to make profits through trading, shitcoins or giveaways due to greed that he will be vulnerable to attack and get scammed. This is why a new investor should only focus on investing and keep his bitcoin accumulation ongoing for 4-10 years and above so that he does not distract himself and fall for scam.
This is wrong, whether the investor stays focused or not on his Bitcoin accumulation process without considering shitcoins, as long as he initiates behaviors that are likely to get him hacked, his investments would surely be compromised and I think our pattern of engagement and wealth of information on online security principles keeps us safe from scammers and not our choices of investment.