Topic: Being Knowledgeable before Bitcoin investment is very Good - page 6. (Read 827 times)

Firstly, you might be unaware that he has carried out some research about some project he wants to invest in but he also wanted to seek the advice of the community. Secondly, as much as I know this forum is one of the best places to seek financial advice. This forum has some of the most experienced persons that have been in the Bitcoin arena for a long time. He is not wrong to ask such a question in the forum. I believe he will get some of the best investment advice from some members.

Now it will be a failure on his side if he accepts everything or any information he was given by the members of the forum without doing his research. He should be able to analyze all the responses and extract the best ideas and do research on them.

But I will agree with you that he shouldn't have announced to the public that he has such an amount in his coffers. This action can attract scammers or even criminals to him.

Maybe the OP was only gathering some ideas and then analyzing them? I agree with you we must not rely on others' decisions or advice. But for sure the person is only seeking advice and at the end of the day, it will be the decision on you, you will press the green button.
On the other hand, I agree with you OP that we must make sure to knowledgeable about what we are doing especially when it involves money which is must be taken seriously.

Doing so is indeed very inappropriate, especially for investors who have absolutely zero knowledge about bitcoin/crypto investment. Because as you said, it could be that the person who was asked for the help, instead of helping but wanting to cheat. So that's probably the downside of it. But on the other hand, not everyone who is asked to help teach them about crypto investing is a scammer. Because of course there are also many good people who want to teach and want to guide someone to be able to invest in bitcoin/crypto. So asking for advice from someone who is an expert to invest in bitcoin/crypto, is definitely risky. But in my opinion, it cannot be leveled that this is bad.
Because it all depends on who to ask for advice.
It would be nice to be like that, because learning about bitcoin/crypto if done independently will definitely be better and more memorable. But learning about bitcoin/crypto on Google, you still have to be careful, because there will always be bad and even deceptive information. Therefore, the knowledge or information obtained from Google must be filtered before being applied directly to bitcoin investment.

OP, at first I would say this, it is very risky for someone to come public such as this platform or any other media outlet to declare their investment budget because doing that alone makes you a subject of target for scammers and possible hackers.

Secondly, every investor has his or her own opinion on getting or being educated on their investment. Education is power as they say and it also means one seeking and acquiring knowledge on a particular field. Having knowledge of an investment saves one the risk of failing or falling in that business and  scammers. As a bitcoin investor, it is advisable to have a proper knowledge of bitcoin by doing a research and conducting due diligence before going further as bitcoin is a volatile assets. The knowledge gained would guide you through to sustenance and profit making.

I had the opportunity to have read the case of this person who came to the forum and said that he had $20,000 to invest and that he needed advice, it turns out that he said he was 60 years old which I soon concluded that he was lying and he was a suspicious guy who probably came to this forum to deceive and steal money from people, everything in this world has limits even for a person to do hodl for many years it has its limits, for example for a person who is 60 years old or more, it is not feasible that buy bitcoin to do hodl for many years, and you need to look at the person's life expectations

at this age of 60 years how many more years does the person expect to live are not many years and bitcoin is something that if the person has it and does not tell anyone then the day that person who has bitcoin dies the bitcoins will disappear so this movement is something dangerous , in my opinion a 60 year old person should look for investments in the real world and tell his family members that he trusts, at least with that on the day of his death these people in his family will be able to benefit from his investments. when many people want to invest in cryptocurrencies, they do not think about this part of protecting themselves in case of death, who will keep the coins

The user who created that thread was advised by many not to post such open stuff, if he or she is not a scammer.
Ordinarily, I see nothing wrong with seeking the public's opinion over something, especially when you have very little idea regarding Bitcoin, and seeking people's advice will enlighten your knowledge and let you know more about what you want to invest your money in.

The method used to seek advice was wrong, and I believe the OP might have learned his lesson if he's the type to always revisit a thread after creating it. $20,000 is an amount enough for a scammer to go to any lengths just to make sure they get some out of the OP without him or her knowing that he's being scammed.
 
 

in my opinion he just wants advice from people on how to invest effectively, he is 65 years old and i believe he has enough experience to know what is a scam

I wouldn’t say it’s entirely right to just throw it all out and ask everyone, besides you’re not going to take everyone else’s advice but just the few that sounds appealing to you.
Still, on a forum such as this, laying it all out could ne your closest means yo safety as well as posing some challenges to your funds.
The good part is, you get other on the forum to aid you in the scrutiny and critics on what advice your been given and you would as well see users having you watch out for scammers in disguise.

What you would be mindful of is the pms. That’s where you can find some real jerks trying to use your ignorance against you.

Being knowledgeable in cryptocurrency is not an easy thing. People need to spend some time, this isn't going to be an on the go thing. Time need to be spent to learn better about bitcoin and other cryptocurrencies. Most of the people who get into bitcoin were just on following the growth bitcoin have reached in the short time period.

When one understands well about the market and makes his/her entry, they'll stay longer in the market. This happens as a result of the person making the investment on the right thing whereas the person investing without knowing could end up with some scam.

It totally depends on a certain person on what type you are into because we know that there are people who are really that too rush on decisioning or engaging into something without trying to make some assessment

about certain risks.This is why they would really be making out decisions in a rush and on the time that they lost money then this is where they do mostly do their research which is something that needs to be done
before they had put up money which its considered to be late. Internet is everywhere and you could simply google out information on which you do really like to know but be careful on making yourself to encounter
false information which it would really be just common sense that you should really verify every information that you would be able to scope on.

Do your own research and make use of your common sense would be the key. You would most likely be able to avoid potential scams if you do make use of these things beforehand.

i think asking like that is a natural thing to do if someone has never invested at all, but actually i think it's a reckless act because it reveals the money they have and is likely to become an easy target for fraudsters.
in my opinion, the thing that beginners who might want to invest for the first time should do is increase their knowledge whether it's by reading or watching videos, doing their own research and setting goals before doing anything, including investing. i think that's the basic thing that needs to be done.
as beginners we have to spend more time learning and understanding how to invest by doing our own research and most importantly as beginners we have to know the boundaries that need to be disclosed to the public to avoid unwanted things such as fraud or hacking.

You would be a fool if you invested in something that you don't have knowledge about it. It would be more like giving a random person your money to keep it safe rather than keeping the money yourself. This is also the samein cryptocurrency where if you don't know how to store your crypto then there is a chance tbaf you will lose your crypto that is why it is very important to bave knowledge about it first before you will invest.

That is, unfortunately, the core thing about investment advisors: they can be sure that their scheme works, while their scheme can stop working at some point. So investment is something everyone needs to learn on their own. Moreover, you are right, there are a lot of scammers pretending to be investment advisors...

I totally agree with you, and indeed, it is true that there are very few chances that you will get good and agreeable guidance. The best advice is to educate yourself fully about Bitcoin and join different forums and communities like this. Some people act more on assumptions and imaginary things, but it is not better because what you have not understood well means that even if you act on it, you will not get much benefit. It is very beneficial for you to have good knowledge of the respective platform before doing any kind of trading or investment.

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.

Especially if they promise a return. Long term investing also seems to generate great returns, but no one promises that. Usually investments under the guise of scam quite often promise quick and large returns in the short term, for example 10% - 15% in 1 month without work or something like that. It's a scam, so of course they should avoid it immediately.

Bitcoin investments also allow investors to get 2x - 4x returns in the long term, but all investors need time and they have to be patient and that cannot be guaranteed. Fast returns are possible, but not on investment but on trading.

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.
But if that person has an idea of what to invest but just wants to hear everyone out on what are the potential altcoins to invest, much better that guy just do his own research silently.
Not bad to ask but to see the obvious and attracting the bad people come to your inbox is your responsibility and expectation.

Suggesting investing in shitcoin many people will say that it's the worst advice even though shitcoin is also part of crypto.
Those who suggest investing in shitcoins may only be knowledgeable about shitcoins and those coins that don't have a solid foundation.
Their job is to suggest, while the job of people hearing such suggestions is to study and find out more about the suggested object, starting with its advantages and disadvantages.

I often get posts that contain the best ideas for those who are new to the investment world.
What, Who, Where, When, Why, and How are guidelines for someone before starting investing and other work.

Only true knowledge for success in your Bitcoin investment can help. Google is not the best place to source for it due to its ranking method.
True knowledge tend to be hidden or scarce, and can be found on this forum if you search diligently, by yourself. Searching by yourself is important because no one will likely reveal it to you even though it's known. It's a treasure people preferred to be hidden.
So, look for someone on this forum whose prediction is always accurate, and follow his/her Bitcoin investment advice. But note he is a very religious person who completely relies on the CREATOR of the Universe for success in his predictions.

Someone with $20k asking Bitcointalk where to put their money? Sounds like a recipe for a big disaster.

Asking for the general consensus is fine. But useless at the same time if you ask me. I wouldn’t trust even a million people giving their honest advice. General consensus isn’t always the best. Do this in the middle of a bull run and everybody’s telling you to invest your life savings in BoobCoin lol.