Engage on hive: Great mistakes I learnt from...
hive-174578·@bhoa·
0.000 HBDEngage on hive: Great mistakes I learnt from...
<div class="text-justify">Are there times when someone just tells you do something and you don’t bother to assess the information and you just do it? Well This happened sometime in 2017. I was very broke. I was living in abject poverty and I was trying to just survive. I was living below a dollar a day and that’s how bad it was. <center>https://image.shutterstock.com/image-photo/emotional-surprised-african-american-guy-260nw-1008032857.jpg</center> One faithful day, my cousin texted me while I was preparing for my first professional exam. He told me I could be rich in like three months. With so much excitement running through my veins I asked how? He said I was meant to invest fifty dollars in bitcoin and after one month, I would get ninety five dollars. Then I would reinvest and get 50% on wards. I borrowed the fifty dollars from my uncle by lying to him that I wanted to pay for exams. I invested and got the return and reinvested. There was an option for referral program so I opted in for it. By this time I was done with my exams so I was ready to do anything to make money. I started hustling for referral and I had about twenty people who joined the program and I was earning from them as they invested. After the end of the second month, I was cashing out three hundred dollar per week. Towards the end of the third month I had hundred referrals. My cash out was pretty huge. I didn’t know it was a Ponzi scheme. <div class="pull-left">https://cdn.pixabay.com/photo/2017/08/30/07/56/money-2696228__340.jpg</div> I ate food as I liked, went to any place I wanted to. At a point I started borrowing people money to invest without fear of losing any money. I had gotten a lot of money from the scheme that I had an undying trust for the scheme. Five months into the scheme, other Ponzi schemes started crashing around me. The likes of MMM and others. Long story short, glitches came up, delay in payments came up, the website started acting up, yet I continued still giving excuses for my Ponzi scheme. It finally crashed. With some of my money in it and most of my referrals had money invested in the scheme. I saw my world crash before my eyes. I was able to accumulate 0.8BTC after the crash. I never knew about bitcoin and didn’t understand anything about bitcoin. All I knew was that bitcoin was for sending and receiving money. My referrals got mad and they kept calling me and I kept assuring them that the scheme was going to come back.I felt their pain. I saw old men cry for their money. Finally, they accepted their fate. https://cdn.pixabay.com/photo/2017/09/28/05/47/bust-2794420__340.jpgAfter about one month of crying over spilt milk, my mother called me and told me to sell the 0.8btc I had painfully accumulated and her reason was that bitcoin was a Ponzi too. She felt it was going to crash. I was scared of losing the remaining. I mean who wouldn’t be? I wanted to keep all I could. I sold it for way less than the price because I trusted my mother too. I didn’t verify, I didn’t do any research. I just sold it. After two months, my cousin @gptins called to inform me about the btc spike. I told him I sold it. He told me to check coinmarketcap. Behold, I saw bitcoin at two times worth the price I was holding it at. It was still climbing. It finally hit twenty one thousand dollars. I felt bad, I felt like I had lost both ways. This was one of my biggest regrets in life.<center>https://cdn.pixabay.com/photo/2019/04/16/21/05/man-4132755__340.jpg</center> #### What lessons did I learn? The first lesson I learnt was that you don’t borrow money to do what you don’t have in depth knowledge about. I mean what if the money I borrowed did not bring any returns? What would I have done? I would have been stranded. I am just saying that if you have to borrow money, know what you are getting into, know the risk you are taking. Then, assess the risk and see whether it is worth it or not https://cdn.pixabay.com/photo/2017/04/20/10/11/questions-2245264__340.jpg</div> Also in whatever you do as regarding money, first try to find out what you are about to get into. After I was told to sell my remaining btc, I was meant to go and make research before finally selling it. There are a lot of things we are not doing because we were told that it was bad and risky. We did not bother to even verify this information. For example a lot of people say forex trading is very risky. They say things like you can lose all your capital in one day. The real truth is you can make a fortune from forex if you have adequate knowledge and abide by risk management rules. All I am trying to say is that whatever you are trying to involve yourself in, make sure you have in depth knowledge of it before you act. Warren Buffet, the greatest investor would say” don’t invest in anything you don’t know about”. And I will add even your heart issues. <div class="pull-left">https://image.shutterstock.com/image-photo/he-got-some-questions-group-260nw-439207960.jpg</div> Finally, my people will say “person wey dey ask question no dey miss road” meaning that if you ask questions, you won’t be lost. <div class="pull-right">https://image.shutterstock.com/image-photo/have-ask-handwriting-on-napkin-260nw-728377855.jpg</div> #### LETS ENGAGE Have you ever done things without verifying just because of the person’s status in your life? Did you regret your actions or were you happy that you did it? Thank you for reading. I look forward for your feedback….. </div> #### All pictures used in this post were gotten from[ pixabay](https://pixabay.com/)
👍 investegg, bdvoter, jonsnow1983, zaku, alamin33, rem-steem, engrsayful, iamjohn, simplifylife, hugo4u, bluesniper, steemitboard, policewala, filler, fengchao, hermannsol, sinvuarsqe, tyhlszeteb, kkxifmpvuy, nyfqqcnbcj, karen2zmoore, mdzwskrysc, jessica.parker, hrlcznivgn, xvvzqsyhnd, fzkzxuxljc, rofstcwlqp, belemo, wolfofnostreet, hive-naija, tykee, seyiodus, oredebby, hope777, bbbbtt55, robin-mctities, maxsieg, mezie196, gandhibaba, bozz,