Topic: Bitcoin kwoledge is not complete without bitcoin investment - page 19. (Read 3427 times)

True. Value your own privacy and never disclose any personal information like what you posted if you don't want to be taken advantage in the future. However, you are correct when you said you need to invest because you already have the knowledge about bitcoin. But that does not mean that you need to do it now. You can invest in the future once  you have sufficient funds to start with, just make sure that you only invest an amount that you can easily manage to lose.

Bitcoin knowledge is not only utilized through bitcoin investment. You can take part in any discussion about bitcoin because you know you have the advantage over others. You can be a bitcoin enthusiast and work like a bitcoin influencer or you can be a bitcoin ambassador that will promote bitcoin in your country. With that, your knowledge on bitcoin has always prove that you can be an instrument towards others to learn bitcoin as well. If you decide to invest in the future, that's already your individual's choice and decision.

I don't think it is. Knowledge is power so once you've gained it, that will always be your edge everytime you decide to share information about bitcoin, most especially if you decide to invest in the future. So whether you invest today or in the future, your bitcoin knowledge will never go into waste as you can always educate others through your own knowledge, or even use it to find jobs in the crypto market that caters about bitcoin.

replying to the title of your thread op, yes it is very true because for one to be familiar with bitcoin in full they have to practice how these things work(i.e, the blockchain or how transaction are carried out). having so much knowledge is not actually all that matters but one also has to see for him self how these things works. this knowledge can be extended to other people by educating them about bitcoin but if you dont have any practises you would not be able to show them some important things they should know which somehow will make you look wired or stupid to them. again, not having funds to invest doesn't stop you from learning. you can always practise until, you finally get the money to invest in btc.

I think the major thing about Bitcoin is the knowledge, because without having a good understanding of this digital asset you might continue to make mistakes in the long run, the ideas you get prepares you for the task ahead, bitcoin is for everyone, mainly for the smart and intelligent people who are ready to take responsibilities, not blame, note without a good knowledge and versed information about bitcoin, the investor might lose his asset because of carelessness, so you have to know the do and don't about bitcoin, how to safeguard your seeds, the best wallet to use, you have to know all this things and more before you can think of investing, get the information needed, in the process you can prepare yourself for the investment, this is my take on this.

I doubt most investors will send and receive transactions or do anything else. They may be too afraid to do so and just want to hold onto their Bitcoin until the Bitcoin price reaches their target selling price.

They also feel no need to do so because they just want to buy and keep Bitcoin. If they send their Bitcoins to another wallet, they will see their Bitcoins decrease, and they don't want that.

But what you say is true so they have more knowledge and experience about using Bitcoin. But it returns to each investor because some investors may want to know everything related to Bitcoin. Some don't want to try other things and just want to buy and hold their Bitcoin for the long term.

We learn or acquire knowledge about Bitcoin for some reason and one is to invest soon when have money. Indeed, it was an application of what we've learned. While Bitcoin gains popularity, it also attracts people to know more about this stuff and then start to buy. I can say not really have to invest after knowing Bitcoin but I think we just see it without doing anything knowing that we already have knowledge about this. Not totally a waste of time but we can ask ourselves also why I'm doing this if we don't try either.

Bitcoin knowledge is one of the capital for investing in Bitcoin. Owning or investing in Bitcoin is also not complete, because in investing there are still various processes that must be experienced. So that later you can get profits according to your target. In this case, even when investing, it is not certain that we will achieve our goals because there will be many things to go through, including various problems and obstacles that can affect our investment.

At least by having knowledge and continuing to update that knowledge, it can be a pretty good provision for our understanding. So that we will be wiser and smarter in everything we decide. Don't panic or rush into deciding something, especially regarding money and investment.

bitcoin knowledge is the acquisition of information, investing is a different thing and could be considered as actually applying what you have learned in the real world. Sure there are ways you can get around this, one could be demo accounts that emulate the market status and all that, but the self-gratification and glory that you would feel from actually earning money from your investments/learnings is inarguably indispensable, it beats any form of feeling in the world as a trader.

It took me a while to actually muster the courage and invest, I've been eyeing the market for a while way back in 2015, it took me a couple of months to actually buy bitcoins for myself/hold whatever bitcoins I have at hand.

There is this joy that comes with first experience,  I guess that excitement is what lead him to create this post. I also see him going extreme in this, maybe to avoid being accused of lies... unfortunately, he just demonstrated that he still need more knowledge to be able to protect himself and his investment.

I never saw anything wrong with the post in terms of privacy and security until I read this comment. Now it is obvious I also have some learning to do especially on this aspect of social phishing.

And I believe that OP knows already of the outcome of making wrong decisions.
In fact, there is no failure in learning Bitcoin but when it comes to investment, that somewhat varies at all. Because not all who invest have deep knowledge about Bitcoin but still, they earn a profit and become successful with their plan. It tells us that it was not the knowledge that would bring us success but also, the way we manage it. You'll somehow lose money even if you have knowledge due to some factors, and one of them is our emotions.

Is your definition of "long-term" essentially holding onto it until you pass away? Meanwhile, we are unaware of when our demise might occur, which could happen at any moment. If indeed you are confident that the price of Bitcoin will continue to rise, you should be able to sell and enjoy the profits from Bitcoin, then reinvest at a reasonable price.

Selling Bitcoin might mean reinvesting it for other business purposes. Or, perhaps, with even more confidence, OP could consider expanding his/her property assets for further rentals.

Although I'm offering advice here, the responsible decision ultimately rests with OP, and we don't know if they will sell based on price increases or at specific time intervals. As long as they don't sell at a loss, that's a positive outcome.

Precisely. With the current trend these days, people who are highly knowledgeable with a certain project or investment can actually make it as an advantage for him and earn decent profits if the people will like and agree with his ideas, and subscribe to his channel after. So even if he won’t be investing at the moment, his knowledge will never go into waste as he can be a crypto influencer if he want, and promote bitcoin just how he understands it. If he’ll be giving genuine advices to his viewers, surely a lot will be tempted to buy and own bitcoin in the latter part.

And what is your goal in this market, aren't we all for profit?  OP has a stable income so I don't think the idea of short-term investing would be suitable for him, especially since he is still a newbie.  what guarantees that when bitcoin goes up 20% or 50% bitcoin will adjust so we have a chance to buy back?  If the market operates so simply, why do many people who trader or speculate short-term continuously lose money?  long-term holding is still a better choice for us instead of just looking at short-term profits and missing out on bigger opportunities.

DCA is sound advice. Your suggestion to sell at a greater price may not work for everyone. What about Bitcoin's long-term believers? Selling may prevent future exponential profits.

For financial stability, one should only invest discretionary cash in Bitcoin, but the larger portfolio is also important. So where does Bitcoin fit? Is it speculative or a long-term investment like gold?

Emotional resilience is also important. Dont underestimate the crypto market. Beyond staying calm during price declines, its important not to become excited during price rises. In this volatile game, emotional extremes might ruin you.

I agree with your conclusion OP, that everyone that has bitcoin knowledge should be able to invest in it. This is because you have to put in practice what you are telling people about. I don't think that I can give out what I don't have. For example I have no bitcoin and I am teaching people on how to buy bitcoin, doesn't that look funny. Whatever you believe in and have the knowledge of it should be worth having, and there is a saying that you should lead by example. Whoever is a bitcoin lover without having bitcoin is only in love with the technology and not bitcoin. This is why i don't see reason why anyone that knows the potential of bitcoin wouldn't look for a means of buying or having a very small amount Satoshi. After all bitcoin can be bought with as low as $10 for a start. Those people that can't afford to buy bitcoin are not serious with investing, but only to procrastinate. OP, my advice is that you should be prepared to face the ups and downs in bitcoin market price and don't get panic, if the price of bitcoin goes below the amount that you bought. Hodli and regular DCA will help you to increase your bitcoin portfolio. Have an emergency funds down to cover up all needed expenses so that you don't go back and sell part of your bitcoin for some emergencies.

no knowledge of bitcoin is wasted if you don't invest in bitcoin because actually you don't need to invest in bitcoin if you have knowledge about bitcoin. you can use this knowledge to provide education to other people and you can do all this online, whether from social media or other online platforms. bitcoin knowledge is still useful even when you don't invest in it.

it's just that it's much better to invest in bitcoin, even if only a little. at least you can understand what it's like to invest in bitcoin, but it's not forced, invest with money that you're ready to lose and if you're not ready then there's no need to invest.

If your goal is profit-seeking, the next piece of advice would be to sell when the price is higher and employ Dollar-Cost Averaging (DCA) when it trends downwards. There's no other rationale for profit-seekers to hold for an extended duration. When opportunities arise to reap gains, say 20% or 50%, do not squander those chances.

The funds you possess seem to be discretionary, unlikely to significantly disrupt your primary financial stability. Therefore, for the long term, you should have the fortitude to hold onto BTC. Never allow your emotions to panic when the price dips; such fluctuations are commonplace and something you should grow accustomed to.

Next, you can delve into the realms of privacy and security concerning Bitcoin storage to prevent any potential breaches.

I am certainly not going to repeat what the others have already said because that will just be wasting time now at this point. OP can read through all of them and take each advice with a grain of salt, based on OP's post he's a well-informed individual who can make decisions on their own. What I am going to repeat however is how foolish it is to post your transactions online. Please take the image down, you shouldn't be sharing it publicly, you can have other proofs that you have made transactions without posting any photos that can threaten your privacy (you don't even need to convince anyone about that, no one will care if you have proofs or not in cases like this).

OP I think the decision you made is the right decision at the right time. The position the Bitcoin market is in right now is a good one to invest in. Since you have a job, you can support your family and invest your monthly rent in instead of keeping  in the bank. Because I can say from the context of my country that investing in Bitcoin is much safer than keeping money in the bank in my country.

OP whatever you do to hold your investment be sure to keep the seed phrase of the electram wallet you used in a safe place where one can hack it. But since you don't have family problems and have unique ways to cover expenses, I'd say you'll hold on to your bitcoins for the long term. In the long run you will hold onto your bitcoins until the next halving occurs no matter how risky you are not selling your bitcoins. In this I can guarantee you will earn a lot of money from here. Which will be hundreds of times more than bank interest