Topic: Bitcoin kwoledge is not complete without bitcoin investment - page 11. (Read 3441 times)

It even sounds so funny for someone to have knowledge about bitcoin and don't have bitcoin,  what will be the use of the knowledge,  what is the person tell others when he/she talks about bitcoin to people, I think such person won't be taking serious because it doesn't make any sense knowing bitcoin but no bitcoin to show. Life is all about practicing what you preach, having bitcoin will bring about more knowledge about the market and the security aspects of bitcoin.

Bitcoin is real and not just literature people can only read , reading it as literature and without owing it is not of any value.  We need bitcoin to tell people about it for them to believe what bitcoin is really is .

They really could suffer irreversible financial and psychological damage if they lose what they should've saved for their children's inheritance. That's the juncture which gets ppl confused because they aren't financial experts. They don't understand investing risks so don't know when to stop. Some ppl get carried away so they'll invest all of their incomes & savings by following their heart or social media influencing crowds.

Learning gives you some sort of understanding about bitcoin and how it had changed over time. To know the real thing happening it is a must to experiment and through the experience we'll understand better about it. When we invest, we'll understand what we heard and what really happens. There are users who heard of the negative about bitcoin and stay away from it. Maybe if they had used it, this could've helped them realise it better.

Some used to exaggerate things to make people prioritise it. While using we'll know what is the reality and we'll get better understanding to take decisions than finding solutions through third person. When we see things happening good it keeps us on the positive side and increase the interest to spend more time as well as increase the investment.

Learning about bitcoin alone is already an investment because we don't do it for free. Those times we sacrifice, which could have been used for other things, were invested in learning about bitcoin, which I don't see as a wasted resource. I consider that time as something that was put to good use and could also be considered an investment.
 
If I don't have money to invest in bitcoin yet, that doesn't make my knowledge a waste. I can still continue to learn more about the currency until I can raise money to start my holding journey, but with the things that I'm able to learn about it, I can still use that knowledge to earn bitcoin without physically investing money in it, which is also one way that the information gotten from bitcoin can be put to good use. There are a lot of ways to actually earn bitcoin; all one needs is to have the knowledge, which is a good starting point, and capital to buy and start holding, which is what follows.

Of course you made a pretty reasonable statement, and I would probably say for anyone who invests without bringing any fishing gear (knowledge) as a provision for them to get a profit then surely they will end up badly, I mean usually if you start something carelessly and without preparation then surely the final result will never be expected (loss). Especially in terms of investment which as we know the risks that are there are very large, so maybe it would be quite stupid if you came without any preparation or knowledge, as you said it would just be a waste of money and time. Usually people who come without any knowledge and don't want to learn are those who are very ambitious to make big profits, they see the success of some people out there who can consistently make big profits.

Learning becomes something very important in any field you want to enter, especially in investing where the risks are very large, nothing but good knowledge and planning will lead you to the benefits you always expect and also on the other hand you will be able to minimize the level of risk that is there with the knowledge you have from learning. So if you really want to become a successful investor then you have to prepare a lot of things, money, time to learn and also a strong mentality is needed.

Your analogy is not completely bad Patrol69, but it still seems to be a bit off.

Hopefully no one is investing in bitcoin (or anything else) with 100% of his/her available money in order that s/he will die or suffer irreversible damages financially and/or psychologically.

With investing, there are ways to take position sizes and also a variety of ways to employ incremental approaches in terms of accumulating a position size that will likely play out better than making BIG bets, and I guess my objection to your analogy is that there can be a lot of ways to play /invest in bitcoin conservatively and still come out on top, including that you might not need to know very much at all.  There are folks who could have had gotten involved in bitcoin and invested $10 per week over the past 9 years with an investment of about $4,700 and currently they would be sitting on right around 3.8 BTC.  Of course if they had invested 10x as much they would have 10x the returns too, but in either of the cases, the person might not need a whole hell of a lot of knowledge about bitcoin in order to take a BTC accumulation approach that could still end up profiting him/her stupendously without knowing a whole hell of a lot.

Going to war without training and investing without education about investing are both dangerous. An untrained soldier is terrible for his team on the battlefield because he doesn't have enough knowledge to know what to do on the battlefield whereas a person who has no idea about investing will surely kill his money if he invests. Before investing, first of all it is necessary for an investor to acquire sufficient knowledge about investments. Investments must be planned for the long term. I always believe that if one invests with a long term investment plan then one will be more successful and I believe in holding the investment and not selling the profit. So invest and hold the investment for a long time hope success catches up with you.

It is a great plan if you ask me especially if 10% of your income will not put you under pressure financially. Hope you have also factored in what your cashflow is and how long it will take you to achieve your targets? Furthermore, what is your reason for waiting for your investment to reach $1000 before transferring to cold wallet? Are you storing your funds in exchange at the moment?  If you can address these concerns, then you are on the right track.

I can still put it to you that having knowledge of Bitcoin without investing renders the knowledge incomplete. It is only someone who have invested in Bitcoin that can tell you in practical terms, what it takes to be a hodler because it comes with strong mindset and courage to hodl both in time of downturn or in time of huge profits. Your reference of people who teach other what they are not doing is really funny and amount to a case of "do as I say, but not what I do"... very weak argument! Those being mentored under this premise will be lost because when reality dawns on them, there will be no help.

That's not true, in our daily life, we are bound to learn as we interact and  mingle with people, coming accross Bitcoin and having the knowledge and not investing is not a complere waste, you might not be interested today but tomorrow you pick interest,some persons even introduce and teach others what they are not doing or maybe financial challenge or another .
     It takes courage to invest in Bitcoin, some are scared of losing and does not  want  to risk their money, savings or even patience to allow their  investment get to the peak, for it is not  a risk free investment
     It's Al about your mindset not knowing that life is all about risk,if your financial investment is not backed by an asset or cash flow it could end up being worth nothing.

Before investing in Bitcoin it is essential that we first learn about Bitcoin. Investing in Bitcoin without education can kill you any time. Before investing you must understand all the factors and then invest. Those who have got idea about Bitcoin they should be prepared to invest right now because it can turn bullish anytime. Of course, long-term planning is also important before investing because none of us can accurately predict when Bitcoin will be bullish again. But for those who are investors want to reiterate your mentioned statement that Bitcoin holding is a very difficult for long term investment which cannot be held for a long time. So keeping some cash on hand is a very important thing that cannot be neglected.

Everyone must hear your urgent message. There's a catch: despite all the warnings, people still fall for quick profits. They hear about people making money and leap in without thinking.

You're exactly right. People should take their sweet time to learn, learn, and learn some more. Understand Bitcoin, its ups and downs, and market movements. Unprepared people often get eaten up in the wild world. Having emergency funds is similar. Having a cash cushion is always wise. What's the pseudo-issue? Information overload. The internet is full of materials, making it difficult to navigate. The problem is minor in the big picture. Knowledge empowers, friends

Bitcoin has become a very serious asset to own so learning to know about Bitcoin must also be more serious so that we can understand it well enough quickly. Moreover, currently investing in Bitcoin has become very important for everyone who already understands the concept of Bitcoin so that holding it for a long period for the purpose of profit is something that is not wrong because Bitcoin has provided more evidence through the past for many people who have long believed in him.

If you want to hold Bitcoin for the long term, it is better to determine how much you can afford to buy during a downturn or when you have money from your paycheck or from the work you do. Because setting aside money to buy Bitcoin gradually will always be good for ourselves, although in the end we also have to determine how much profit we want when we already have more Bitcoin in our wallet. And for emergency situations, I think this is something that is very common among everyone so it has been thought about from the start or before people start investing in Bitcoin.

As a valuable digital asset to be precise,
we can only hope that Bitcoin reaches a new ATH next year after the Halving and this will be a new historical peak for Bitcoin.

And the effect on the future of Bitcoin will certainly be better,
given that the more popular bitcoin becomes there may be other adoptions made.

Not too hopeful as a currency,
currently more hopeful to enjoy the fluctuating price of bitcoin that can generate profits or just as a speculative asset.

Furthermore, I still believe that for bitcoin to become a currency, it requires the approval and consent of the government, bitcoin cannot become a currency without their consent. We can use bitcoin as currency even if the government has not recognized it but for businesses and companies it is not possible if the government has not recognized it. Overall, the future is unpredictable but bitcoin's path to becoming a currency will be more difficult than its recognition as an asset.


Let's hope for more significant changes to bitcoin in the future, but for now, we need to accept and adapt that bitcoin is a valuable asset rather than a currency.

You don't have to invest right away when you get introduced to Bitcoin, investing into something that you don't understand isn't the right way to make investment. You have to spend some time to learn about Bitcoin very well so you can understand the advantages and disadvantages to help you understand what you're investing into and how to protect your investment so they don't get stolen by scammers who are many in this industry, don't rush investing into Bitcoin.

Having cash at hand is also a good as it'll make you not to sell your Bitcoin for cash if you had an emergency, the emergency cash you had will be used and this will help you to keep holding your bitcoin and make you more profits when the bull market comes and pumps the price of Bitcoin.

If I where there OP, I would say that having Bitcoin would booast your knowledge about BTC. it's like doing a course in school and then doing the practicals, the practicals will help your knowledge of that particular course. So, gaining knowledge is good, but putting it to practice is very important as well. I am sure that is what the OP is trying to say.

But if we don't have complete knowledge about bitcoin, how will planning take place? With just a little knowledge about bitcoin, how can we know how unpredictable its volatility is, or how to distinguish which is the safest wallet to store bitcoin...? When we do any job, do business or invest in any field, having complete knowledge from the beginning will always be a huge advantage. Don't wait until you lose money to improve your knowledge.

if you don't invest right away learning about Bitcoin is really helpful. Planning ahead and being patient are essential when the time comes, your knowledge will protect your money. Prioritize learning because jumping into Bitcoin without sufficient understanding can cause loss of money and regret. Investment in Bitcoin should be preceded by education, it is an essential base. And I am on a BTC trip as well, having cash on hand for emergencies is essential because market volatility might affect your capacity to assist others. In my opinion before investing in Bitcoin, decide on your expected profit and the length of time you will retain it.

Bitcoin is unique, so there are still many people who don't believe in it as a good investment tool, but that's okay, they will believe in it if there are people around them who become successful from investing in Bitcoin, so that in the future those who don't believe in it will certainly follow in the footsteps of investing in Bitcoin to gain profits and of course can be used as a means of payment in certain situations. On the other hand, what is no less interesting is the younger generation as the next generation to support the development of Bitcoin

But see how new people come in by booking a table and trying to gobble up all the Bitcoin knowledge.
They think everything can be done instantly and get immediate profits.

A process never disappoints, and neither does an investment built from scratch with full knowledge of Bitcoin.

This is a Bitcoin journey. Let's see how old Bitcoin is today, yups still 14 years old,
and even at a young age bitcoin has made a big impact on the world and decentralized digital currencies can make significant changes.

Although the main purpose is as a currency or as a means of payment, it depends on the regulation of each government.
We can't force it, but as adoption continues, the future of Bitcoin will certainly be different and more needed than it is now.