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May 01, 2017, 12:57:27 AM

#201

Firstly newbies always search how to get free bitcoin rather than start buying bitcoin and getting used to it. Since its practically not easily available to get free so people waste lot of time on those faucets, gambling etc and end up in a loss.

Buying won't be possible for everyone and that is the reason they start looking for free bitcoins which they can get from faucet sites but the payouts is too low but they don't have any other choice of earning bitcoins at that stage so I don't think that its a mistake to spend time on faucet sites.

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May 01, 2017, 01:23:32 AM

#202

♠ ♦ THE FUTURE OF ♣ ♥
CRYPTO GAMBLING

I think it's not a mistake of newbies, most of the newbies aren't that wealthy to buy bitcoins. And since they are newbies they are still skeptical with bitcoin so they want to make sure before investing on it. And the most popular mistake of newbies are they keep on joining HYIP's thinking that they can earn their legit but they are not aware that it's wrong.

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May 01, 2017, 01:41:44 AM

#203

One of the biggest mistakes newbie will commit is investing lots of their bitcoins into some site called cloud mining.
And also bitcoin gambling is a very bad start when you've started using bitcoin, gambling is just for rich people who just wants to have fun and nothing to spend with their money.

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jakelyson

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Quote from: ashour on May 01, 2017, 12:57:27 AM

May 01, 2017, 01:55:23 AM

#204

I think everyone went through that stage but lingering there for too long is the real mistake. Once you get the hang of bitcoin, you should move on to better way of earning bitcoin. Collecting dust will just make the content of your wallet prone to higher fees because of high bytes input.

fitty

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May 01, 2017, 02:11:41 AM

#205

Yeah. Newbies are not aware whether they are investing in a legitimate or scam site. They are blind by the big return and profit. Those are the things that Ponzi sites are targeting. They are so eager to grow their Bitcoins fast and they are not patient to wait for the right time for it. Instead of growing their Bitcoin, it just makes their money disappear.

In addition, one another mistake I see is those newbies who are joining this forum thinking they can earn money from this forum without investment instantly. Thus, there are lots of SPAM threads and unconstructive posts appearing in this forum. Take note that it takes 1-2 years of ranking your account before you can earn a decent amount of Bitcoins thru Signature Campaigns.

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May 01, 2017, 02:20:16 AM

#206

Gambling is an addiction and getting out of it is not that anyone can do. Cloud mining is not that famous right now and people are understanding that getting ROI is not possible. The mistakes newbies are doing these days is that they want to get profit in a day or two and in that greed they will invest money in Hyips or Ponzi schemes.

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Quote from: johnwest on May 01, 2017, 02:20:16 AM

May 01, 2017, 02:24:42 AM

#207

CRYPTO CASINO & BETTING PLATFORM

At the beginning every user has the same thinking of making big money through bitcoin in the form of gambling wins, trading, investment and so on. This makes them get trapped into such cloud investment gateways that quote big profit on their investment which is not at a possible one as quoted above.

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May 01, 2017, 02:42:37 AM

#208

Great article. Tho i am not sure that all of this are the most common mistake for a newbie. But yeah most of it hurt mh butt haha realizing that i was doing this things before when i started

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Quote from: johnwest on May 01, 2017, 02:20:16 AM

May 01, 2017, 02:47:48 AM

#209

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I think gambling is not the problem, the problem is on those people who use it in a wrong way and those people who abuse it. Gambling is for entertainment and also for profitable activities( if you have enough luck).

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Quote from: SONG GEET on February 26, 2017, 12:13:04 PM

May 01, 2017, 03:00:00 AM

#210

This article have missed to cover about low fee newbies used to put to save cost on payments leading unconfirmed transaction for many hours. That will make them panic about bitcoin and they will start blaming bitcoin network for it and some may even opt out from the idea of using bitcoin again. Grin

True i just getting started and my friend do a transaction for me and i was so frustrated for the receiving message that take almost 6hours i thought that i already get scam by my friend with that problem.

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May 01, 2017, 05:45:16 AM

#211

They are just a newbie, they don't have the money to buy bitcoins, I mean, most of the newbie here don't have the money to buy one, that is why they want to know bitcoin to earn money through it. But it would be better if you are going to buy bitcoin and hold it in your wallet 'till the right time comes when you could withdraw it.

We've been all there, when we were just earning bitcoin through FAUCETS, and other HYIPs out there, we didn't know this Forum that time that is why, so, we don't have to blame the newbies if they do FAUCETS.

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May 01, 2017, 05:46:43 AM

#212

I'd say one of the weirdest things on Bitcoin for someone that was new, and this is a story of myself at one point, was the point where you're able to set the amount of money you pay for the TX fee and you don't really know what you're doing so you may fuck this up and set it low. Unknowing to you, if you do set it low your transaction could never be confirmed and then you have to figure out how to reset it and such.

Kinda weird, though I do hope new people are using web wallets (I know less secure) as they're promoted to set payment for tx fees based on how quick they want it to go through.

Scamming is also pretty high on here relating to newbs as they're so used to using currencies that they can get back in a worst case scenario kind of thing.

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Quote from: ArcCsch on February 26, 2017, 03:40:53 PM

May 01, 2017, 06:05:10 AM

#213

I feel like there is one particular precaution that could be added, avoid this very common scenario:
A newbie has a paper wallet, with some amount of bitcoin on it.
The newbie wants to spend some of them, downloads and installs a desktop or mobile wallet.
The newbie broadcasts a transaction sending part of the coins, the rest are sent to a new address generated by the desktop or mobile wallet.
Believing the leftover coins are still on the paper wallet, the newbie deletes the wallet.
The leftover coins are gone forever.
This is a sad loss that could be prevented by proper education.

This is very specific, but can turn into a nightmare if we don't be careful.
This depends on the wallet being used. I believe Core and Electrum use a new change address every time, while Multibit Classic returns the change to one of the existing addresses. (I may be wrong)

Interesting point to note.

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May 01, 2017, 06:19:33 AM

#214

It was informative. And I will put down a list of 10 main mistakes, from my perspective:

1. Wasting your coins in margin trading
2. Losing the private keys to your wallet
3. Investing your coins in ponzi schemes
4. Not enabling 2FA in your online wallet
5. Storing your coins in exchange sites
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7. Not making backups of your wallet
8. Accessing your wallet from a public computer
9. Converting your coins to fiat
10. Gambling

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Re: [OPEN]Stake.com NEW SIGNATURE CAMPAIGN l NEW PAYRATES l HERO & LEG ONLY
May 31, 2022, 08:28:59 AM
Reply with quote +Merit #2
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Zeek_W

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Quote from: Sithara007 on May 01, 2017, 06:19:33 AM

May 01, 2017, 06:24:59 AM

#215

Haha! I have been guilty of ALL of these things! Add a 11. Buying old miners 'cheap' when drunk and not thinking of ROI.

▓▓▓ BITMIXER.IO ▓▓▓▓▓▓ High Volume Bitcoin MIXER ▓▓▓

speem28

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Quote from: d.adabit on February 26, 2017, 11:49:34 AM

May 01, 2017, 06:45:11 AM

#216

Hi, with price soaring and newbies joining I found useful sharing this miniguide.
Hope this is appreciated

http://immutable.today/10-mistakes-bitcoin-newbies/

This was really a helpful article, I gained a lot of useful information on this one. I was thinking about doing mining and trying faucets but when I read this, I totally understand that I shouldn't, because after reading the part where it stated about mining and faucets, the odds will not favor me. I will just waste my time trying new things cause I lack some essentials that are required to be successful in that specific area.

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Quote from: speem28 on May 01, 2017, 06:45:11 AM

May 01, 2017, 06:49:00 AM

#217

Quote from: d.adabit on February 26, 2017, 11:49:34 AM

Hi, with price soaring and newbies joining I found useful sharing this miniguide.
Hope this is appreciated

http://immutable.today/10-mistakes-bitcoin-newbies/

Yes don't try faucet and mining because even faucet is free, it will take a lot of time from you to just earn at least 100k satoshi while mining will cost you a lot of money to provide the things you need like mining rigs and other a lot more like expensive electricity bills and ventilation for the hardwares. It is best to just buy and hold bitcoin while you are studying the best source of income.

speem28

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Quote from: doomistake on May 01, 2017, 05:45:16 AM

May 01, 2017, 06:54:19 AM

#218

I agree, I'm also a newbie that doesn't have enough money to buy my own bitcoin. If only I have enough money or other source of income, I will sure buy bitcoin and then keep it until the right moment. But for now, I'm just earning bitcoin through signature campaigns and making my rank higher so that I will earn bitcoin a lot more better.

YuginKadoya

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Quote from: speem28 on May 01, 2017, 06:54:19 AM

May 01, 2017, 07:06:34 AM

#219

Quote from: doomistake on May 01, 2017, 05:45:16 AM

You should consider first a constructive good quality post I think that is the first time you need to keep in mind because if you are not considering it good paying signature campaign will not accept you, and your post should be on topic because there are moderators that will delete your post or give you a warning for posting in the wrong topic page.

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May 01, 2017, 07:15:59 AM

#220