It is common to want to avoid talking about the mistakes you've made. For some reason we all think we need to be perfect all of the time. Mistakes don't actually make us weaker, they make us stronger. If we're not complete idiots about it, we will refrain from making the same mistakes twice. Moreover, we can be really intelligent and learn from the mistakes that others have made. This is the entire intention behind episode 21 of the Go Full Crypto Podcast. In this episode, Mrugakshee and I talk about the mistakes that we've made in the early days of our own crypto story. There is really no shortage of them. If I didn't make any mistakes when messing around with cryptocurrency, no doubt I would be a millionaire right now.
Scammed by Cloud Mining Farms
I ended up getting scammed by two separate cloud mining farms. So not only did I make a mistake once, but I repeated it a second time. The first one was a Dogecoin mining farm that a "friend" of mine was running. I gave hum $300 and he sold me "hash power" in his mining farm. Eventually the guy that was running the farm shut down the website, and just ignored me on social media channels. Me and 100 other investors. I ended up getting about $150 worth of Dogecoin by the end of it. I exchanged that for Bitcoin and eventually made my money back. The moral of the story is, if I cannot see, or control my investment, I really cannot have as much confidence in it.
The second cloud mining farm I got scammed by was a bitcoin cloud mining farm. This one was just a straight up ponzi scheme. It paid out early investors with the money generated from later investors. I woke up one day and found the website had closed down. There was no way I could login to withdraw my returns. I ended up getting $800 of my $2000 investment back on this one. Again, after the Bitcoin price rise, I got my returns back. Apparently I needed to learn the "don't cloud mine with bad companies" lesson twice.
More Lessons to be Learned
No doubt Mrugakshee and I haven't finished making mistakes and learning our lessons with respect to how we should conduct ourselves in the world of crypto. It's not simple. Scammers are smart, organized people. In order to not fall prey to their schemes, you need to be smarter. Check out our latest episode, and hear our stories. Mrugakshee is a bit newer to the world of cryptocurrency space than I am. She speaks about falling prey to her own emotions such as FOMO (Fear of Missing Out) and FUD (Fear Uncertainty and Doubt). If I were to pinpoint the most common mistake that people make, its falling prey to their emotions. Learning how to recognize FOMO and FUD, and not succumb to it is the most important thing you can learn as an investor. Tune in to hear how Mrugakshee deals with it!
The Go Full Crypto Vision
We want to help people opt-into the world of cryptocurrency, one dollar at a time. In order to do this, people must need a reason. They need their own "why" behind discarding their government currency for the world currency of the future. Go Full Crypto is putting out content to help people discover the reason why they want to get involved in cryptocurrency.
Download Episode 21 of Go Full Crypto - The Mistakes We've Made in the Early Days of Crypto
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