Being Knowledgeable before Bitcoin investment is very Good - page 4.

Sanitough

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Quote from: mirakal on June 27, 2023, 09:36:16 AM

Not only is it very good, but it's a must.

You need to be well knowledgeable when you plan to invest in crypto, as that's the best way to minimize the risk and have a good chance of being successful. One of the major reasons why people fail in investing is because they are "too greedy." They easily fall for fake advertisements about returns that are too good to be true. So, if you have the basic knowledge, you won't fall for that.

When it comes to investing, there's one basic rule that I always remember:

"When the return is too good to be true, that's a scam."

Not just for bitcoin investment, but in all types of investments, having prior knowledge is always a must. That way, you will know if the investment has its high potentials to succeed or just another part of scam that is going to waste your money and put all your time and efforts into waste. Without knowledge, everything for you is good and desirable to invest especially for those too good to be true investments, until you realized it that you invested in a wrong coin while seeing your money is not growing anymore and even push yourself to lose a lot from a red flag investment.

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Quote from: Salahmu on June 27, 2023, 05:47:07 AM

I may not be the right person for investment advice that's why I'm asking everyone to share their advice, views and knowledge incase something like this should come up, so people could learn and no what must be done before going into investment.

Not everyone who gives investment advice is bad. There are those who come to us with good intentions and goals.
I tend not to want to generalize all the suggestions given, especially suggestions that come from people we know well.
The important point is the filter we use in assessing the intent and purpose conveyed.
Searching for information about investment advice on the internet is only to find a source of comparison before we decide.

For me, finding out through various channels about something to be done is part of the effort so as not to get lost on the way.
Can not be separated from the many modes that will lead us to the abyss.
Maybe you understand what I mean.

Woodie

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When you go to school , University or whatever it is, this is what they say because they are going by the book but in reality you need to go off script sometimes!

But let's face it, the reason most of us aren't crypto millionaires today.. is because we want the knowledge for us to be convinced to invest,but fortunately the early hodlers were probably told of the potential that lived within bitcoin and the put down a couple of dollars on them without thinking twice and didn't need the knowledge...and that leap of faith today made them millionaires. I suppose the 10,000 bitcoin pizza could relate to this of not having the knowledge, but all in all sometimes it's all about the gut feeling and taking the risk.

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Quote from: Salahmu on June 27, 2023, 05:47:07 AM

so I was thrilled to create this topic, so everyone could help by sharing there own knowledge on what someone that has no knowledge about investment should no before venturing into.

Logically how can people trust other people's advice when they themselves do not first study investment and know the potential of what coin they want to invest in. When it comes to investing, people tend to suggest bitcoin because many people have seen the advantages of investing in bitcoin compared to other coins. Analysis and basic knowledge need to be studied and advice from others also needs to be considered so that our knowledge is more perfect in investing.

Quote from: Salahmu on June 27, 2023, 05:47:07 AM

I may not be the right person for investment advice that's why I'm asking everyone to share their advice, views and knowledge incase something like this should come up, so people could learn and no what must be done before going into investment.

Especially for bitcoin what you need to learn is how to be calm and not panic when market conditions are experiencing a sharp decline, or in other words, you must be able to control risk. Fluctuating prices are just a market journey process and there are times when bitcoin returns to a better stage, when we are calm and able to control risks then whenever you will not experience losses when investing in bitcoin.

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Quote from: Salahmu on June 27, 2023, 05:47:07 AM

I came across a post made on this forum by someone that says he has $20k for investment as such he was looking for people to advice him on how to go about it, for me it was actually a bad idea consorting everyone for investment advice because you could be lured by scammers to invest on a shitcoin as such loosing all your money because of lack of knowledge about Bitcoin or any investment in general, as someone that has no idea on investment I think the first thing was research google to learn more and also the risk involves. so I was thrilled to create this topic, so everyone could help by sharing there own knowledge on what someone that has no knowledge about investment should no before venturing into.

I may not be the right person for investment advice that's why I'm asking everyone to share their advice, views and knowledge incase something like this should come up, so people could learn and no what must be done before going into investment.

I believe seeking advice is as good as investment itself but seeking it from random people is a very bad idea. There are people that are expert in whatever you choose to invest in, so seeking advice from such people will actually help you to gain more understanding of what you are to venture into. But this should not stop you from making your own research. Acquire knowledge before beginning your investment, do not just invest based on people's opinions. Follow your mind.

I also came across that post and I think I even dished out my opinion as well. The poster sounds like a scammers too who wants to victimize people that might be interested in the game. The best scammer will triumph among them.

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Quote from: freedomgo on June 29, 2023, 03:17:56 PM

I guess you’re referring to the previous post that asked for advices on what coin that is best to invest because he’ll be putting his $20k for retirement. Well, first and foremost, investing without knowing on what you are doing is a very risky decision since you might lose all your hard-earned money in an instant because you know nothing whether the advices you received are trustworthy or not, and worst is you might fall believing in scams. That is why you need to prepare yourself before investing and be knowledgeable and skillful as much as you can because that will only be your weapon so you won’t be investing in wrong coins and won’t be easily lured by scammers around.

Many people nowadays invest in the things that they doesn't even know. Some of them when they heard they can earn BTC they are thinking that it is an actual btc like that thousand $ when they invest, they are the easy target of scammers, I really hope that they can be knowledgeable enough so that people will less likely to be scammed nowadays and I just hope that they will not easily believe in fast and guaranteed money that will only took them weeks to earn BTC.

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I guess you’re referring to the previous post that asked for advices on what coin that is best to invest because he’ll be putting his $20k for retirement. Well, first and foremost, investing without knowing on what you are doing is a very risky decision since you might lose all your hard-earned money in an instant because you know nothing whether the advices you received are trustworthy or not, and worst is you might fall believing in scams. That is why you need to prepare yourself before investing and be knowledgeable and skillful as much as you can because that will only be your weapon so you won’t be investing in wrong coins and won’t be easily lured by scammers around.

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Quote from: taufik123 on June 28, 2023, 09:16:34 AM

Quote from: MusaMohamed on June 27, 2023, 08:56:29 AM

Learning, practicing, getting profit and lose it, getting losses are fundamentals for success. We can learn it and practice it with a full market cycle with bull and bear times.
-snip-

LOL A rich man can do anything with his money even if it goes to waste.
Relying on other people's investment advice is like giving one's life into the hands of others.

Only irresponsible rich man will do that. A business oriented rich person will always prepare everything and know the investment before releasing his money. They will research, read information about people's experience on the venture and drive a conclusion themselves.

Quote from: taufik123 on June 28, 2023, 09:16:34 AM

Quote from: Wend on June 27, 2023, 09:02:22 AM

I saw that thread a few days ago, but in the opinion of many, the story of the man who has 20k dollars and needs investment advice from others is more of a scam than a fact. For those willing to invest large sums of money, they would not foolishly turn to strangers for investment advice. Unless his intention is to scam rather than seek real advice.
-snip-

The intention is to be a cheater, or just want to get attention from the forum residents.
Instead of wanting to be noticed, it becomes a topic of conversation that the author of the fictitious story is just nonsense.

Yeah it is possible that the OP of that thread is seeking attention, if not trapping the people who messaged him into some form of joint investment then scam the unsuspecting person at the end.

Quote from: taufik123 on June 28, 2023, 09:16:34 AM

Quote from: salad daging on June 27, 2023, 10:14:13 AM

A good investment is by doing your own research, I know there's nothing wrong with seeking other people's advice, but he himself has to decide and the risk must be borne, because investing is not an easy matter, you still have to have knowledge.

Seeking random advice from others is dangerous, no one can justify it.
But if the advice from others is filtered and combined with the results of your own research, it will be better.

Or learning the experience of others, knowing their actions and the result of the action is way better than seeking an advice from anyone. Result from an action never lie and is best form of example.

BITCOIN4X

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Quote from: Ale88 on June 29, 2023, 02:35:07 PM

Quote from: Salahmu on June 27, 2023, 05:47:07 AM

~Snip

I know what thread you are talking about and pretty much it's an example of what you shouldn't do before investing. On the other side, I don't think that investing in bitcoin requires too much study, I try to explain myself better: once you have a general idea of the economical system and the inflation, and then you read what bitcoin is about, I don't want to say it's a no brainer decision investing but almost. Then you can dedicate more time to understand every little detail, sure, but having a basic understanding is more than enough in my opinion.

Agree with you, but sometimes it's not that simple.
A bitcoin investor needs to understand the basics of investing and they need to be able to manage their budget fairly well. They don't have to be greedy just because other people say it, but of course other people's experiences can be considered.

Besides they have to be able to understand the market and other factors about minimizing risk, they also have to handle themselves as best they can. They must be able to maintain good psychology, stable emotions and so on.

Ale88

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Quote from: Salahmu on June 27, 2023, 05:47:07 AM

I came across a post made on this forum by someone that says he has $20k for investment as such he was looking for people to advice him on how to go about it, for me it was actually a bad idea consorting everyone for investment advice because you could be lured by scammers to invest on a shitcoin as such loosing all your money because of lack of knowledge about Bitcoin or any investment in general, as someone that has no idea on investment I think the first thing was research google to learn more and also the risk involves. so I was thrilled to create this topic, so everyone could help by sharing there own knowledge on what someone that has no knowledge about investment should no before venturing into.

I may not be the right person for investment advice that's why I'm asking everyone to share their advice, views and knowledge incase something like this should come up, so people could learn and no what must be done before going into investment.

I know what thread you are talking about and pretty much it's an example of what you shouldn't do before investing. On the other side, I don't think that investing in bitcoin requires too much study, I try to explain myself better: once you have a general idea of the economical system and the inflation, and then you read what bitcoin is about, I don't want to say it's a no brainer decision investing but almost. Then you can dedicate more time to understand every little detail, sure, but having a basic understanding is more than enough in my opinion.

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Of course, it is always advantageous if someone is very knowledgeable about Bitcoin or anything else before going through it; otherwise, they can fail along the way. An example is some crypto newbie that just ends up landing themselves on some shitcoins that can vanish with their money, and they will put the blame on Bitcoin. They could have some misconceptions that may even be passed on to their friends, making them think that Bitcoin is a bad asset to invest in, but with good knowledge, one can be saved from a lot of scams and shitcoins too. Whoever wants to start their Bitcoin journey should just make sure they have their knowledge sharpened before going into it.

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Quote from: AmoreJaz on June 28, 2023, 04:21:07 PM

Quote from: yazher on June 28, 2023, 11:52:17 AM

When you are just beginning to learn about bitcoins, investment should not be your main priority rather you need to gather as many resources to gain knowledge as possible to protect yourself from fraud and Ponzi Scheme because this is what made others lose their trust in bitcoins because they rush to invest whenever they are offered with some scam investment platforms which involve the name bitcoins in it. They thought this was the real thing, and they even had their way of explaining the reality of bitcoins which is also a hoax they get from the owner of such frauds. And they spread it to get the attention of newbies in this field to fool them into investing as well.

or if not, avoid investing in new alts. stick to btc at first. start small, learn the ropes. there's no rush here. many are in a hurry because they have the concept of getting-rick-quick in this market. but that's a lie. you still need to work hard to achieve such status. the more you educate yourself on this market, the more confident you will be in facing any market challenges.
there's nothing wrong in making a mistake. but if you are just a new one, use small funds so it won't hurt your pocket if you lose it all. in time, you will be more confident as you will gain more tips and tricks along the way.

They thought moving so early on more riskier alts can generate them good profits. But they didn't know that this can cause them a lot of money especially if they just invest on new projects without doing any further research. So much better if they stay trading bitcoin for a while and know its technicalities so that they can learn something that they can use on altcoin tradings. So many thing to learn without getting any huge loss if we have patience to learn first before going on something risky to us.

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Quote from: Salahmu on June 27, 2023, 05:47:07 AM

I came across a post made on this forum by someone that says he has $20k for investment as such he was looking for people to advice him on how to go about it, for me it was actually a bad idea consorting everyone for investment advice because you could be lured by scammers to invest on a shitcoin as such loosing all your money because of lack of knowledge about Bitcoin or any investment in general, as someone that has no idea on investment I think the first thing was research google to learn more and also the risk involves. so I was thrilled to create this topic, so everyone could help by sharing there own knowledge on what someone that has no knowledge about investment should no before venturing into.

I may not be the right person for investment advice that's why I'm asking everyone to share their advice, views and knowledge incase something like this should come up, so people could learn and no what must be done before going into investment.

Investing is a constant risk, there is no exact formula that allows you not to generate losses. Through experience, each person creates their own strategy that gradually adapts and allows them to generate favorable results. Telling you exactly how to do it doesn't make sense since I'm still learning like you, so instead of creating a preeminence, it could harm you in a certain way. There are innumerable ways to invest and generate more money than you had, but they all have their own ways of studying themselves, so the only thing I could tell you is to experiment, take risks, take small steps, and little by little increase the risk, so that the blow is not so hard in case you fail. I consider that it is the only way that a person can involve you in this world

Quote

I may not be the right person for investment advice that's why I'm asking everyone to share their advice, views and knowledge incase something like this should come up, so people could learn and no what must be done before going into investment.

Something to tell, so as not to fall into scams, remember that the person who paints you excessive earnings is a clear indicator that it may be a possible scam.

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Quote from: yazher on June 28, 2023, 11:52:17 AM

When you are just beginning to learn about bitcoins, investment should not be your main priority rather you need to gather as many resources to gain knowledge as possible to protect yourself from fraud and Ponzi Scheme because this is what made others lose their trust in bitcoins because they rush to invest whenever they are offered with some scam investment platforms which involve the name bitcoins in it. They thought this was the real thing, and they even had their way of explaining the reality of bitcoins which is also a hoax they get from the owner of such frauds. And they spread it to get the attention of newbies in this field to fool them into investing as well.

or if not, avoid investing in new alts. stick to btc at first. start small, learn the ropes. there's no rush here. many are in a hurry because they have the concept of getting-rick-quick in this market. but that's a lie. you still need to work hard to achieve such status. the more you educate yourself on this market, the more confident you will be in facing any market challenges.
there's nothing wrong in making a mistake. but if you are just a new one, use small funds so it won't hurt your pocket if you lose it all. in time, you will be more confident as you will gain more tips and tricks along the way.

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Quote from: 20kevin20 on June 27, 2023, 01:00:44 PM

Quote from: blockman on June 27, 2023, 12:09:50 PM

It's okay to ask for some advice but following the wrong obvious advice is a terrible thing to do. Those that are suggesting unknown and uncommon altcoins think that they can fool people.

I think they just don’t know what they’re doing. Many of the hype followers are there just to try their luck and hope their shilling will make them rich. Even if they recommend investing in Bitcoin, it doesn’t mean it’s a good advice. Bitcoin investment requires handling a ton of risk - and if you can’t handle it, you’re down for a slippery slope to failure.

Yeah, likely that they're following the crowd and think that they've been in luck because they're the first ones that got in. As long as they highlight that there's the risk in everything then that should give the investor or the newbie a warning that they need to take heed before investing because they will never know if aside from suggesting bitcoin, they'll gonna attach some of these altcoins into telling on what they should buy next after bitcoin.

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When you are just beginning to learn about bitcoins, investment should not be your main priority rather you need to gather as many resources to gain knowledge as possible to protect yourself from fraud and Ponzi Scheme because this is what made others lose their trust in bitcoins because they rush to invest whenever they are offered with some scam investment platforms which involve the name bitcoins in it. They thought this was the real thing, and they even had their way of explaining the reality of bitcoins which is also a hoax they get from the owner of such frauds. And they spread it to get the attention of newbies in this field to fool them into investing as well.

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Quote from: Salahmu on June 27, 2023, 05:47:07 AM

I came across a post made on this forum by someone that says he has $20k for investment as such he was looking for people to advice him on how to go about it, for me it was actually a bad idea consorting everyone for investment advice because you could be lured by scammers to invest on a shitcoin as such loosing all your money because of lack of knowledge about Bitcoin or any investment in general, as someone that has no idea on investment I think the first thing was research google to learn more and also the risk involves. so I was thrilled to create this topic, so everyone could help by sharing there own knowledge on what someone that has no knowledge about investment should no before venturing into.

I may not be the right person for investment advice that's why I'm asking everyone to share their advice, views and knowledge incase something like this should come up, so people could learn and no what must be done before going into investment.

I think that scammers would immediately send such a person a phishing link in private messages so that he would click on it and enter his own keyword. And if he did that, he would lose his money. It is better not to talk about how much money you have on the forum. Of course, we all have our bitcoin addresses open here, because we participate in subscription, and everything is visible in the spreadsheets there. And anyone can see our balances. Nevertheless, it is better not to show how much money you have, and you need to be very careful with other forum visitors. Despite the fact that tt will always help and explain any topics, there are a lot of unfriendly people and scammers here. After all, cryptocurrencies are a monetary topic.

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Quote from: bayu7adi on June 28, 2023, 04:25:43 AM

Quote from: Salahmu on June 27, 2023, 05:47:07 AM

I think the first thing was research google to learn more and also the risk involves.

Google's credibility is insufficient for matters of finance such as this. From what I understand, Google merely presents content created by numerous individuals, without any official determination regarding their intentions, whether they harbor ill motives or any other intentions.

Given that, in my opinion, $20k is a substantial sum, I could allocate 10% of it to seek consultation from an expert in the financial field. Engaging with just one advisor will suffice, ensuring they are a reputable and trustworthy financial advisor who will not lead us astray into purchasing unnecessary items.

if you are looking for advanced and in-depth knowledge, google may not give you, but for basic knowledge, it is the most complete place for you, IMO. and I think the bitcoin basics provided by Google should be enough for anyone to get started. I also started learning everything from social media without anyone's help.
I would rather figure everything out myself than hire a financial advisor, because if they are really good at finance. why do they not make their own money by investing but advise others to make money?

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Quote from: MusaMohamed on June 27, 2023, 08:56:29 AM

Learning, practicing, getting profit and lose it, getting losses are fundamentals for success. We can learn it and practice it with a full market cycle with bull and bear times.
-snip-

LOL A rich man can do anything with his money even if it goes to waste.
Relying on other people's investment advice is like giving one's life into the hands of others.

Quote from: Wend on June 27, 2023, 09:02:22 AM

I saw that thread a few days ago, but in the opinion of many, the story of the man who has 20k dollars and needs investment advice from others is more of a scam than a fact. For those willing to invest large sums of money, they would not foolishly turn to strangers for investment advice. Unless his intention is to scam rather than seek real advice.
-snip-

The intention is to be a cheater, or just want to get attention from the forum residents.
Instead of wanting to be noticed, it becomes a topic of conversation that the author of the fictitious story is just nonsense.

Quote from: salad daging on June 27, 2023, 10:14:13 AM

A good investment is by doing your own research, I know there's nothing wrong with seeking other people's advice, but he himself has to decide and the risk must be borne, because investing is not an easy matter, you still have to have knowledge.

Seeking random advice from others is dangerous, no one can justify it.
But if the advice from others is filtered and combined with the results of your own research, it will be better.

Agbe

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I saw the guy post and I don't think the guy did well of coming to the public for such. That amount of money to invest in Bitcoin is a huge amount. And as you said, a fraudster might corner him and chats him up to invest on some Ponzi schemes and collect all his money. I was not also in support of coming to the public and tell the public that he has such amount of money and was looking for an advise to invest. Scammers use different methods to lure people to scam them. As it is said before by other users that, investing in Bitcoin is not hard as trading. You just open a trustworthy open source wallet and buy any amount of Bitcoin and store it there.
Scammers are very subtle that they can deceive you to give them the money so they can use it to invest for you.
Be wise when dealing with the public. There are good and bad eggs.

Topic: Being Knowledgeable before Bitcoin investment is very Good - page 4. (Read 827 times)