Beginners, you don't need Bitcoin first - page 4.

Inwestour

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Quote from: Peanutswar on August 02, 2023, 06:47:06 AM

Newbies don't really need to make an investment immediately in the cryptocurrency because they just carried away with the hype of other people, ideal first they understand how the bitcoin works so they see the benefits of the cryptocurrency itself after on that secure of the accounts, wallets, or asset as possible actually few only teaches this kind of thing because there's no safe in the internet people are still prone with the hacking issues.
Another thing for the newbies not ideal to make a single pot with your investment ideal to scatter so if the other investment does not win you have another resources that could pullback those losses.

This applies not only to bitcoin, any investment should be thoroughly studied before investing money in it. Investing in cryptocurrencies seems easier compared to buying real estate or other investments that require large investments, but this does not mean that this simplicity will give the best result. In addition, when a beginner starts to understand, he will understand that it is not as easy as it seemed at first.

If, in addition to bitcoin, a beginner wants to buy altcoins, it will be even more difficult, because you will have to choose which ones to buy. And even if he buys only bitcoin, there will still be many questions, even without taking into account how it works. So the conclusion here is clear, you should not buy until you know exactly what you need and you know what to do with this bitcoin.

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Quote from: Peanutswar on August 02, 2023, 06:47:06 AM

Newbies don't really need to make an investment immediately in the cryptocurrency because they just carried away with the hype of other people, ideal first they understand how the bitcoin works so they see the benefits of the cryptocurrency itself after on that secure of the accounts, wallets, or asset as possible actually few only teaches this kind of thing because there's no safe in the internet people are still prone with the hacking issues.
Another thing for the newbies not ideal to make a single pot with your investment ideal to scatter so if the other investment does not win you have another resources that could pullback those losses.

I agree with this. If you're just starting out with cryptocurrency, it's essential to understand that you do not necessarily need to jump straight into Bitcoin and other cryptocurrencies. It is normal to fear missing out (FOMO) whenever you see someone who keeps earning from Bitcoin and other cryptocurrencies but remember they were also once a newbie. They were able to be what they are now because of constant learning and experience.

So don't feel like you need to jump straight into trading. Without proper knowledge, your loss will probably be guaranteed. For now, focus and start from the basics to learn, take your time to gain enough knowledge, do your research, and by the time you think you are ready, explore the cryptocurrency with a small investment, still with the caution of its risks.

Beginners can also read the link below that might serve as a guide, and it contains information you need to know about the basics of trading.
https://academy.binance.com/en/articles/a-complete-guide-to-cryptocurrency-trading-for-beginners

Ayebabara

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This is good advice. If the person doesn't have a job before investing in bitcoin he will be tempted to touch the invested bitcoin to refeed himself because he no extra job that provides him food on the table. But if he has a manual labour jobs doing daily then that can also help him to secure the bitcoin for a very long time. There are different ways one can do to invest and secure the bitcoin that has been invested and not only job. Trading, fishing and farming are all there to use to invest in bitcoin.

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Quote from: Peanutswar on August 02, 2023, 06:47:06 AM

Quote from: mirakal on August 02, 2023, 06:40:05 AM

Quote from: Mame89 on July 21, 2023, 01:27:29 PM

Quote from: Z390 on July 18, 2023, 04:04:39 AM

You don't need Bitcoin first, What you need is a JOB, work on that first.

The point is that finance is not forbidding it, but limiting it and making sure to make any decisions based on numbers, not emotions. I understand a little what the OP said, and I think it's not only newbies who have to carry out suggestions like this, those who are not beginners should also implement a system like this. Because bitcoin is an asset that is used for investment if you don't have a job, how do we start investing? by way of debt? this will worsen our finances.

The mindset must be changed, don't buy Bitcoin expecting to get rich in a short time, but buying bitcoin means we are ready to lose money. Therefore, what is needed first is not to buy bitcoin, but how do we find work, that way 30% of the money we get from our new job buys bitcoin in stages every time we receive a salary from work.

Well, there are also some instances that we get to invest in bitcoin because we received huge amount of money from our inherited assets, and not from our hard-earned money from our job. I think that is a good mindset too, trying to diversify your investments and not just letting your cash sleeps in the bank. However, in case your investments do not worked as planned, and all your savings have started to run out, then you should land a stable job that will sustain your needs before all your investments and hard-earned savings will be gone. But if you can get a stable source of income in the first place, I guess that will help you grow your investments without the need to sell your bitcoin whenever its price suddenly crashed.

Newbies don't really need to make an investment immediately in the cryptocurrency because they just carried away with the hype of other people, ideal first they understand how the bitcoin works so they see the benefits of the cryptocurrency itself after on that secure of the accounts, wallets, or asset as possible actually few only teaches this kind of thing because there's no safe in the internet people are still prone with the hacking issues.
Another thing for the newbies not ideal to make a single pot with your investment ideal to scatter so if the other investment does not win you have another resources that could pullback those losses.

Right, whether it's inheritance or savings from income, newbies shouldn't rush to invest in bitcoin without any knowledge of it. they don't need to spend a lot of time learning everything and waiting for a solid amount of knowledge to start investing, because if they do, they will most likely miss the opportunity to buy cheap. but at least, they must have the most basic knowledge to start investing. Diversification is inevitable but it will not be enough, they also need other sources of income from other investments, or a job to ensure safety.

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Quote from: mirakal on August 02, 2023, 06:40:05 AM

Quote from: Mame89 on July 21, 2023, 01:27:29 PM

Quote from: Z390 on July 18, 2023, 04:04:39 AM

You don't need Bitcoin first, What you need is a JOB, work on that first.

The point is that finance is not forbidding it, but limiting it and making sure to make any decisions based on numbers, not emotions. I understand a little what the OP said, and I think it's not only newbies who have to carry out suggestions like this, those who are not beginners should also implement a system like this. Because bitcoin is an asset that is used for investment if you don't have a job, how do we start investing? by way of debt? this will worsen our finances.

The mindset must be changed, don't buy Bitcoin expecting to get rich in a short time, but buying bitcoin means we are ready to lose money. Therefore, what is needed first is not to buy bitcoin, but how do we find work, that way 30% of the money we get from our new job buys bitcoin in stages every time we receive a salary from work.

Well, there are also some instances that we get to invest in bitcoin because we received huge amount of money from our inherited assets, and not from our hard-earned money from our job. I think that is a good mindset too, trying to diversify your investments and not just letting your cash sleeps in the bank. However, in case your investments do not worked as planned, and all your savings have started to run out, then you should land a stable job that will sustain your needs before all your investments and hard-earned savings will be gone. But if you can get a stable source of income in the first place, I guess that will help you grow your investments without the need to sell your bitcoin whenever its price suddenly crashed.

Newbies don't really need to make an investment immediately in the cryptocurrency because they just carried away with the hype of other people, ideal first they understand how the bitcoin works so they see the benefits of the cryptocurrency itself after on that secure of the accounts, wallets, or asset as possible actually few only teaches this kind of thing because there's no safe in the internet people are still prone with the hacking issues.
Another thing for the newbies not ideal to make a single pot with your investment ideal to scatter so if the other investment does not win you have another resources that could pullback those losses.

mirakal

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Quote from: Mame89 on July 21, 2023, 01:27:29 PM

Quote from: Z390 on July 18, 2023, 04:04:39 AM

You don't need Bitcoin first, What you need is a JOB, work on that first.

The point is that finance is not forbidding it, but limiting it and making sure to make any decisions based on numbers, not emotions. I understand a little what the OP said, and I think it's not only newbies who have to carry out suggestions like this, those who are not beginners should also implement a system like this. Because bitcoin is an asset that is used for investment if you don't have a job, how do we start investing? by way of debt? this will worsen our finances.

The mindset must be changed, don't buy Bitcoin expecting to get rich in a short time, but buying bitcoin means we are ready to lose money. Therefore, what is needed first is not to buy bitcoin, but how do we find work, that way 30% of the money we get from our new job buys bitcoin in stages every time we receive a salary from work.

Well, there are also some instances that we get to invest in bitcoin because we received huge amount of money from our inherited assets, and not from our hard-earned money from our job. I think that is a good mindset too, trying to diversify your investments and not just letting your cash sleeps in the bank. However, in case your investments do not worked as planned, and all your savings have started to run out, then you should land a stable job that will sustain your needs before all your investments and hard-earned savings will be gone. But if you can get a stable source of income in the first place, I guess that will help you grow your investments without the need to sell your bitcoin whenever its price suddenly crashed.

MarjorieZimmermanGinger

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Quote from: Z390 on July 18, 2023, 04:04:39 AM

Pocket money, or the money that someone gives you will only bring you unrest mind if you plan to invest with such money, it's the type of money you are not ready to lose, because it's all you have, because you have no other money coming from else where.

You don't need Bitcoin first, What you need is a JOB, work on that first.

Although I agree with the views you are trying to narrate, but it never hurts for anyone to buy bitcoins with the pocket money they have. Bitcoin can be purchased according to the capacity of money that is owned and is not forced, what needs to be emphasized is the knowledge about bitcoin that some beginners must understand beforehand if they want to be involved in investing. If you can do both at the same time, it will be much better and if you don't have a job but someone has a large pocket money, there is nothing wrong with getting involved in investing.

The most important thing is being able to be responsible for the investment that is being undertaken and not neglecting other needs first. For example if they are still students or students, the money must be used first to support their education and the rest can be used for investment in the simplest way possible.

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Quote from: Blitzboy on July 31, 2023, 04:02:53 PM

Quote from: PeRo on July 31, 2023, 10:51:13 AM

I strongly agree on this one and I think most will as well. Bitcoin should always come in second until you come to a level where it is your main occupation, if you are into trading. I did make this kind of mistake and always looked forward to investing any kind of money I get back when I was in school, but most of the time it was impossible since it was my only money "income" as you said.

Beginners should go for a job firstly and then, only if you have an amount of money that you can afford losing and don't need it at the time, you should invest it. And if you are independent, you should probably wait for a better than average paid job before investing.

My advice for beginners would be to try cashing in their skills or services and stuff like that for Bitcoin in return. While you don't have a full time job, you certainly have time to start earning bits of Bitcoin.

Bitcoin shouldnt replace a regular income, especially for new users. Before adding storeys, you must construct a sturdy foundation. Bitcoin investments are the extra storeys on top of a consistent income.

I find it intriguing that skills or services may earn Bitcoin. Its intriguing to turn time, our most precious resource, into Bitcoin. New Bitcoin users can join the movement without risking their money.

Bitcoin is a currency and an investment, yet we often overlook that. We encourage Bitcoin's use and value as a global, independent currency by exchanging it for products and services

I didn't imply that it should, I kind of cut short my last statement. I was thinking about the younger population who want to get into Bitcoin as they don't even have a main income and are not looking for a 9-5 job yet. It's better to use the time to earn Bitcoin if it is possible and if you want to get into Bitcoin, than just doing a whole lot of nothing with your time.

Of course, older users/adults should make finding a job a priority before investing and after that a lot of learning about the whole thing.

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Quote from: lousie9 on July 31, 2023, 06:26:36 PM

Quote from: Finestream on July 31, 2023, 04:13:26 PM

Owning bitcoin turns into a greed when you are trying to inculcate in yourself that bitcoin is very essential in your life because it can save you from all your financial problems. That is a misconception because bitcoin is never the solution to all your financial problems. That’s the reason why some people refuse to get a job but invest in bitcoin instead hoping that they can be profitable all the time and overlook the importance of getting a job that will pay them good compensation. And when they start losing, that’s they end up realizing that owning bitcoin will never be successful unless if you have a stable job that will cover your losses from your bitcoin investment.

You are right to think about something in excess will be bad or will be greed.
Yes, have a work or have a steady income is the main thing. Investing is a form of effort to get additional income for a long period of time.
I don't know how someone who doesn't work can invest in Bitcoin. that's actually nonsense.
Of course if there is someone who thinks that Bitcoin is the solution to all financial problems and will get profit from investment quickly that is a fatal mistake and it shows that someone does not fully understand Bitcoin.

It is possible that the person who doesn't work can still invest in Bitcoin using their parents money, but you are right to find an income first before jumping into investing because it is not always guaranteed you'll earn profit. Again, for sure, there are others who think of it mostly in Bitcoin, but later they will realize it. What is really best about Bitcoin mentally is that those who are not strong enough to be invested in it will be leaving as they can't control their emotions due to volatility, which is why those who stay will only earn profit.

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Quote from: Mr.suevie on July 31, 2023, 04:36:03 PM

Quote from: Finestream on July 31, 2023, 04:13:26 PM

Owning bitcoin turns into a greed when you are trying to inculcate in yourself that bitcoin is very essential in your life because it can save you from all your financial problems. That is a misconception because bitcoin is never the solution to all your financial problems. That’s the reason why some people refuse to get a job but invest in bitcoin instead hoping that they can be profitable all the time and overlook the importance of getting a job that will pay them good compensation. And when they start losing, that’s they end up realizing that owning bitcoin will never be successful unless if you have a stable job that will cover your losses from your bitcoin investment.

First of all only a fool will rely on their Bitcoin investment as a remedy to their financial problems because Bitcoin isn't something that yeilds profits on a daily basis so why would choose to rely on it instead of getting a job that pays you and moreover you use the money worked for to actually purchase Bitcoin so how would you be acquiring more Bitcoin if you don't actually work. Bitcoin investment is meant for future reference and like the name implies "investment", it not something you hope to use at the moment except it calls for it and if anyone wants to actually acquire a good investment strategy then getting a job will be one because that will make you secure your investment so you won't have to temper with it always.

According to what you said, I still see a lot of idiots in the market because I see many people saying that bitcoin can help reduce unemployment if the government accepts bitcoin in their country. They even see bitcoin as a solution to poverty alleviation. If I remember correctly, not long ago there was also a thread on our forum discussing bitcoin investment recommendations for unemployed people. That sounds crazy, how can bitcoin generate daily income for unemployed people?

There are not only many people who misunderstand bitcoin, but also many people who are crazy about bitcoin and worship it blindly. For me, bitcoin is money and to earn money, we need to work and use the money to make money, other than that, I don't see any way to earn more.

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Quote from: Finestream on July 31, 2023, 04:13:26 PM

Owning bitcoin turns into a greed when you are trying to inculcate in yourself that bitcoin is very essential in your life because it can save you from all your financial problems. That is a misconception because bitcoin is never the solution to all your financial problems. That’s the reason why some people refuse to get a job but invest in bitcoin instead hoping that they can be profitable all the time and overlook the importance of getting a job that will pay them good compensation. And when they start losing, that’s they end up realizing that owning bitcoin will never be successful unless if you have a stable job that will cover your losses from your bitcoin investment.

You are right to think about something in excess will be bad or will be greed.
Yes, have a work or have a steady income is the main thing. Investing is a form of effort to get additional income for a long period of time.
I don't know how someone who doesn't work can invest in Bitcoin. that's actually nonsense.
Of course if there is someone who thinks that Bitcoin is the solution to all financial problems and will get profit from investment quickly that is a fatal mistake and it shows that someone does not fully understand Bitcoin.

Mr.suevie

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Quote from: Finestream on July 31, 2023, 04:13:26 PM

Owning bitcoin turns into a greed when you are trying to inculcate in yourself that bitcoin is very essential in your life because it can save you from all your financial problems. That is a misconception because bitcoin is never the solution to all your financial problems. That’s the reason why some people refuse to get a job but invest in bitcoin instead hoping that they can be profitable all the time and overlook the importance of getting a job that will pay them good compensation. And when they start losing, that’s they end up realizing that owning bitcoin will never be successful unless if you have a stable job that will cover your losses from your bitcoin investment.

First of all only a fool will rely on their Bitcoin investment as a remedy to their financial problems because Bitcoin isn't something that yeilds profits on a daily basis so why would choose to rely on it instead of getting a job that pays you and moreover you use the money worked for to actually purchase Bitcoin so how would you be acquiring more Bitcoin if you don't actually work. Bitcoin investment is meant for future reference and like the name implies "investment", it not something you hope to use at the moment except it calls for it and if anyone wants to actually acquire a good investment strategy then getting a job will be one because that will make you secure your investment so you won't have to temper with it always.

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Quote from: Z390 on July 18, 2023, 04:04:39 AM

Pocket money, or the money that someone gives you will only bring you unrest mind if you plan to invest with such money, it's the type of money you are not ready to lose, because it's all you have, because you have no other money coming from else where.

I wonder how could this become an unrest of mind. Remember the money is already yours and you have all the right to spend it elsewhere. Aside from that, if this is an allowance, then it is a sure thing that you will be getting more in the future. I still believe as long as there is someone supporting us financially (being a student or under family care) it is always best to spend money to investments especially Bitcoin since we know sooner or later Bitcoin will increase in price which can give us profit in the future. As long as we are only investing the surplus of the allowance given to us, I do not think there will be such unrest as stated by @OP.

We should take advantage of living under the support of our parents since we don't have to worry about anything. It is the best time to buy and hold.

Finestream

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Owning bitcoin turns into a greed when you are trying to inculcate in yourself that bitcoin is very essential in your life because it can save you from all your financial problems. That is a misconception because bitcoin is never the solution to all your financial problems. That’s the reason why some people refuse to get a job but invest in bitcoin instead hoping that they can be profitable all the time and overlook the importance of getting a job that will pay them good compensation. And when they start losing, that’s they end up realizing that owning bitcoin will never be successful unless if you have a stable job that will cover your losses from your bitcoin investment.

Vaculin

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Winding down.

While you can earn bitcoin with your large amount of money, but the problem is how can you sustain owning it with its unpredictable and changeable price that anytime it will reach its lowest price and you’ll end up seeing yourself in panic wishing you did not invest in the first place because you will only lose in the end.

However, if you have a job and do investing as your side hustle, then regardless if you suffer from losses which I think part of investing, you will never totally experience the stress and all its difficulties because you still have your job to count on, even if your investment is not working in progress.

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Quote from: PeRo on July 31, 2023, 10:51:13 AM

I strongly agree on this one and I think most will as well. Bitcoin should always come in second until you come to a level where it is your main occupation, if you are into trading. I did make this kind of mistake and always looked forward to investing any kind of money I get back when I was in school, but most of the time it was impossible since it was my only money "income" as you said.

Beginners should go for a job firstly and then, only if you have an amount of money that you can afford losing and don't need it at the time, you should invest it. And if you are independent, you should probably wait for a better than average paid job before investing.

My advice for beginners would be to try cashing in their skills or services and stuff like that for Bitcoin in return. While you don't have a full time job, you certainly have time to start earning bits of Bitcoin.

Bitcoin shouldnt replace a regular income, especially for new users. Before adding storeys, you must construct a sturdy foundation. Bitcoin investments are the extra storeys on top of a consistent income.

I find it intriguing that skills or services may earn Bitcoin. Its intriguing to turn time, our most precious resource, into Bitcoin. New Bitcoin users can join the movement without risking their money.

Bitcoin is a currency and an investment, yet we often overlook that. We encourage Bitcoin's use and value as a global, independent currency by exchanging it for products and services

PeRo

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I strongly agree on this one and I think most will as well. Bitcoin should always come in second until you come to a level where it is your main occupation, if you are into trading. I did make this kind of mistake and always looked forward to investing any kind of money I get back when I was in school, but most of the time it was impossible since it was my only money "income" as you said.

Beginners should go for a job firstly and then, only if you have an amount of money that you can afford losing and don't need it at the time, you should invest it. And if you are independent, you should probably wait for a better than average paid job before investing.

My advice for beginners would be to try cashing in their skills or services and stuff like that for Bitcoin in return. While you don't have a full time job, you certainly have time to start earning bits of Bitcoin.

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Quote from: xSkylarx on July 23, 2023, 10:15:32 AM

Only those success stories that we heard off, but again, there are tons of people who lost and were not able to succeed. It is really better to have security first, like your job or other source of income that can make you survive even if your investment fails. You should plan it out like plan a and plan b so that if ever the plan goes wrong, you can still fall back, rather than only having one plan, like only investing, and not knowing what you will do if your investment isn't successful.

I would never say that a person should go all in on crypto. A stable income source is like a lifejacket keeping you afloat during time of crisis and bear markets. Use the income from the job as a stable source of money to pay for the expenses and savings while keeping enough to allow you to invest and take riskier positions on crypto.

The stable job is always the first option and for that a person needs education and skills. Hence the path is laid of simply as education, skills followed by a job and then investments in parallel.

Otherwise when the market falls, you will be devastated about how to feed yourself.

Blitzboy

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Quote from: Weawant on July 23, 2023, 11:08:32 AM

Quote from: Rengga Jati on July 21, 2023, 06:08:28 PM

There are several things that must be considered before we invest in something, including Bitcoin.

1. Invest when you really can and are willing to invest, not to force it, let alone make it difficult for yourself because of investment, especially this is risky.

You're right and from the advices I have seen on the forum, it looks like if you're not investing you're doing something wrong meanwhile people don't realized that not everyone has equal financial power. We have people that if they invest what they have they won't have anything left.

It's not a must to invest in Bitcoin and it isn't a must to invest now. If you're not ready to invest then don't do it because if you allow yourself to get pressured into investing, while others are okay when the market is dumping, you won't be at peace because you can afford to lose.

Bitcoin investment is risky when you don't have the patience to hold for as long as it takes for you to become profitable, you'll lose your capital when you sell and that can lead you into having doubts about future investment to trap you at the position you're financial forever.

You dont have to buy Bitcoin or other digital assets. Its not a sign of financial maturity or adulthood. Dont get me started on those self-proclaimed experts preaching their "not invested yet?" Shame!" mantra on every forum. Its like they live in a parallel universe where everyone has enough of money.

To each their own. Financial power, risk appetite, and life ambitions are as distinctive as fingerprints. Therefore, forcing everyone into a single investment strategy is illogical and destructive.

People are drawn to Bitcoin because they believe in its decentralisation and transparency. Why not dip your toes in if you sense the call and your pocketbook is ready? Until then, let the market dump or pump.

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Quote from: Rengga Jati on July 21, 2023, 06:08:28 PM

There are several things that must be considered before we invest in something, including Bitcoin.

1. Invest when you really can and are willing to invest, not to force it, let alone make it difficult for yourself because of investment, especially this is risky.

You're right and from the advices I have seen on the forum, it looks like if you're not investing you're doing something wrong meanwhile people don't realized that not everyone has equal financial power. We have people that if they invest what they have they won't have anything left.

It's not a must to invest in Bitcoin and it isn't a must to invest now. If you're not ready to invest then don't do it because if you allow yourself to get pressured into investing, while others are okay when the market is dumping, you won't be at peace because you can afford to lose.

Bitcoin investment is risky when you don't have the patience to hold for as long as it takes for you to become profitable, you'll lose your capital when you sell and that can lead you into having doubts about future investment to trap you at the position you're financial forever.

Topic: Beginners, you don't need Bitcoin first - page 4. (Read 1358 times)