Topic: Bitcoin kwoledge is not complete without bitcoin investment - page 3. (Read 3346 times)

Just as it has already been mentioned by JayJuanGee and several others who have given their expert opinion on this topic, is still very highly necessary to clarify a few things and regards to knowledge and investment or starting a business,  because first when you want to build a good financial flow in form of investment or starting a new business,  you must first of all invest in building the right knowledge and experience because that is the first and basic capital needwd to succeed in any space in life as long as investment is concerns.


In fact, is not good enough to have money as the first capital for an investment and even if you have the money without the knowledge, you still end up spending and wasting the money without achieving anything tangible out of the whole thing, so knowledge is indeed power, and it guarantees you a safe and profiting journey since you will be approaching everything with expert ideas since you already have and build the needed knowledge about the investment,  although the good side of Bitcoin investment is that, one can buy and hold bitcoin while he/she spend the time to build the knowledge about bitcoin, but even at that, the investors must be careful not to have bought the Bitcoin when the price is at an all-time high because doing that may result in I to long wait and possible frustrations.

What you said is true, irrespective of how everyone will wish to buy Bitcoin when the Bitcoin price is a bit lower that shouldn't give people the mindset that they should wait till the Bitcoin price moves to zero.

Perhaps as an investor having that mindset of always targeting or expecting Bitcoin price to dip the way that suit  them could be a very big mistake, because price may continue to increase were as you have missed the opportunity to accumulate thinking the price would drop to your expectation.

However this was what I told an investor when the Bitcoin was on a consolation zone within $26k to $27k when he was saying that he was expecting Bitcoin to dip more before he could buy, and little did he know he was making a mistake by missing the opportunity to buy Bitcoin with that price, so while he was waiting for the price to dip, the next morning he woke up seeing Bitcoin on $30k and he became surprised wishing if he had known he would have accumulated since instead of waiting for more  dip that did not even happen.

So considering the potential of Bitcoin every price it present to us now is very good opportunity to invest.

I think taking investing and  learning for beginners is not the best start. Beginner have lots of mindset toward bitcoin that are not real.  Most beginners don't really know much about the volatility of the market,  all they feel is to make money from investing.  I think learning to change the mindset of beginners to know Bitcoin is volatile and they do not need to rush to make profit. After changing the mind set investing can take place while learning still Continues. Beginner needs to learn before investing to know and understand what they are into.

I didn't say that I agreed with the post because when you're spreading investments against altcoins you're doing what gamblers do when they're hoping one of their bets will hit a profit. The number of altcoins which haven't been successful isn't small. The dead altcoin list's exhausting to read. I'd advise ppl to shun investing in new altcoins because you can't trust you'll see a profit.

Actually, discussions like this are always repeated but in the end the conditions remain the same because when talking about risk all have the same risk when dealing with money and investment in the end the risk of loss is always there wherever it is (not only in bitcoin) but we always discuss risk and risk as if it is a very big problem that cannot be borne.
Not that we underestimate the risk in this case but on the other hand everything we do when we live everything must have a risk including in bitcoin so in this case the importance of us apart from studying bitcoin then we must also be able to learn about risk management because it is not to be avoided because if you only avoid the risks that exist then forever you will not be comfortable with the investment you are doing.

This aligns with a quote from Nora Roberts: 'There's no reward without work, no victory without effort, no battle won without risk.' Every great man on earth is someone that have taken some risk at some point. So, I agree with you that dwelling on the fear of risk is doing a great disservice to one's abilities and opportunities. Risk is an important ingredient in life that determine to a large extent, how much of our dreams we will achieve.

This comment is not to amplify the risk of Bitcoin investment but just to strengthen those who might be discourage by the notion that Bitcoin is risky, my way of telling them that even if Bitcoin is seen as risky, it is worth taking the risk. It is a risk that can turn things around for them.

It is actually true that many people see the volatility of Bitcoin as the risk aspect of it. If you are not a scalper, why bother about the volatility? The value in dollar will spike up and down yet the Bitcoin quantity is constant so no need of the panic. One thing that is certain is that after the spikes and volatile moves, comes some form of stability that always see the Bitcoin appreciate in values. This is the most important thing.

This indeed appears to be a more rational response and can offer valuable guidance to newcomers. If someone possesses only a limited understanding of trading and investment, it's unwise for them to commit substantial funds. Such a move could potentially jeopardize their financial well-being. Instead, it's advisable to invest an amount they can comfortably manage, especially in the context of Bitcoin's ongoing high volatility.

On the other hand, if the goal is long-term savings, a basic grasp of fundamentals should suffice. The remainder involves simply periodically accumulating Bitcoin holdings. This approach is best suited for the long haul and doesn't necessitate delving into intricate technical analysis.

Nevertheless, the OP isn't necessarily mistaken. It's plausible that the OP believes that taking on the role of an investor will fuel their enthusiasm for learning about Bitcoin. There are undoubtedly individuals with such a character trait, but they are relatively few in number, so it wouldn't be accurate to generalize this as a common practice.

I agree with you. Someone who doesn't have knowledge about bitcoins will never understand how profitable it is to invest in bitcoins and how long it should hold and how to hold bitcoins safely. But if one has knowledge about bitcoin then he can invest in bitcoin anytime later without facing any problem. so surely it can be said that no knowledge is waste. Bitcoin is one thing where a long term investment can yield a high profit but the charger financial status depends on who can invest when and how much.  But acquiring knowledge never depends on financial status so anyone can acquire knowledge even if their financial condition is bad.

I don't see bitcoin to be risky, if can discipline yourself and stick to the investment rules of bitcoin that says, you should only invest in a long term and increase your bitcoin investment portfolio regularly with DCA so that no matter the level of price that bitcoin is, you can buy to cover up further price increase to balance up with the risks and benefits. No matter how risky, you think bitcoin is because of the price volatility when you are in a long term  plan, you will overcome the risk because bitcoin price keeps pumping with time.

It is those people that think that bitcoin is a get rich quick scheme that invest in a short term and they want massive profit, they will run at loss because that is not how bitcoin should be venture into, since nobody can predict the price movement of bitcoin right. Other assets has high risk and can't be compared to bitcoin in terms of risk and benefits.

I didn't get you right, are you saying that you will prefer to gamble with altcoins because there are possibilities that you will make profit? I must tell you this that when you spread your funds on altcoins the possibility of you running at loss is 98% because altcoins can't be seen as an investment as they can't be use for a long term investment because they will not survive. Everyday by day, new altcoins are coming out and some are crashing. This has been happening since the creation of the blockchain. But ever since bitcoin came out it has been gaining recognition and increasing in value which has made so many people become bitcoin investors because they are aware that when you invest in a long term, you will see profit in it.

 Investment is not something that you will be scared of everyday when you wake up or not having a rest of mind on where you put your money in. Investment should be seen as something that takes time to grow with patience and rest of mind on growing it bit by bit because you know that in future you will make good profit from it and the investment will still be running. This is how bitcoin is, you can invest and DCA regularly, and after 8yrs, you take your profit and keep the rest of your bitcoin to continue growing again. Altcoins is an an investment but a gambling tools because you are not sure if you will make profit from when you invest in it. This is why altcoins is not worth investing in because it was created by the dev to make profit from people, this means that they are after your money and not after helping you to get money through their project.

That's true every investment has a risk, even our daily business involves risk so perhaps if we should dwell on those risk it would be very difficult to start a business, so actually anybody who fails to take risk is eventually not ready to become a successful person because risk is inevitable.

Although in as much as volatility may be concerned on Bitcoin market but perhaps I don't see much of a high risk involved on Bitcoin but however it all depends on the intention of the investor because if is for holding I see no reason why price volatility will affect the mindset of the investor on less the investor is having a doubt or doesn't believe on the potential of Bitcoin.

There is no better way to put this than you already did. I think majority of the people commenting here agrees with the topic. The confidence and experience of an investor of Bitcoin is unique and totally incomparable to theoretical knowledge. Many people including myself are still planning to go back for deeper knowledge of Bitcoin after being invested in it already. Believe me, reading articles that explain some core things about Bitcoin make more sense to me now than before when my money was not in Bitcoin.

The real definition of pain is like being in a forum like this and engaging in the discussion yet unable to buy Bitcoin only to realize that Bitcoin have made a groundbreaking new high. When I was in elementary school, our teacher made a statement that "if you enter into your class one day and discover that everyone in your class has gone mad, you should follow them and act made so that help can come for all at once if need be. But in a case it happens and you refuse, the day your madness will come, they will not take it as emergency because it is just one person". Bringing this to our discussion here, anyone here, who have seen that we are all buying Bitcoin and holding, should just follow us and buy because majority of us as doing it. This is not the time to stay on the sidelines, a lot is happening across the globe and poverty is on the rise.

I would not go so far as to say that bitcoin is not risky, but surely people will frequently mix up volatile and risk, so there are differences between something being highly volatile and its being risky in terms of downside risks of losing value such as going to zero or just continuing to cascade downwardly in price without ever recovering.  If any kind of investment downwardly cascades in price without ever recovering, then even DCA is not going to save you from a project like that, but instead just continue to suck value from you without even being able to get your value back, but at least DCA would limit the amount that you lose to no more than 100%....

Sure, volatility in itself could be considered to have some kind of risk contained within it, especially for anyone who might either try to play the waves or to become overly affected by the waves, but if the waves generally are upwardly trending, then time should resolve those matters, even though we cannot really know how much time it might take to resolve the matters in our favor, so there could even be some risks (and increasing risks) for those with shorter timelines.

In regards to a potentially downwardly spiraling price cascade, the DCA investor would continue to invest while considering that the downward spiraling scenario is possible in any investment, including bitcoin, and so maybe if we look at bitcoin from that downwardly spiraling potential angle, then we may well be able to identify that bitcoin is likely less risky than a lot of other places in which any of us could place our value.. because even though a downwardly spiraling BTC performance is possible, it does not seem to be very well backed up by facts and/or logic, even though we could still be wrong yet we would come to those kinds of conclusions regarding bitcoin's investment thesis strength mostly from studying what bitcoin's fundamentals are - in regards to being a mostly decentralized and open source system that is ultimately the best money ever discovered (invented) and the network effects of bitcoin continue grow (referring to the 7 network effects described by Trace Mayer),

and so it should be somewhat apparent that value is going to continue to flow into bitcoin, even though not guaranteed and we cannot really know the timeline but at minimum bitcoin seems likely to continue to have an upwards price projection, while at the same time having some potentialities for ongoing explosively upwards price performance, just as it has done historically, and there is no real evidence to suggest that bitcoin is getting less popular and less likely to have upward's price performances, even if some of the percentage of price performance does not seem capable of repeating past performance in terms of slope, but none of us should require such high levels of performance in order to be willing to take a decently-sized investment into bitcoin - and we do not even necessarily need to choose to be highly aggressive, even though some level of aggressiveness will likely pay off better than those who approach bitcoin whimpily, relative to their own financial conditions.. and at the same time some of those who approach bitcoin whimpily but consistently would have likely outperformed (and continue to outperform) those who are overly aggressive and end up risking too much without adequate preparations for various shakeouts (volatility) on the way upwards.


These kinds of people who rely on advisors and even someone to actually invest for them could still be advantaged very much by being in bitcoin and having exposure to bitcoin, yet they probably would be advantaged to continue to learn about bitcoin and even learn some basics about holding their own private keys and taking some personal responsibility over their own finances.. yet at the same time, we cannot necessarily stop people from choosing their priorities differently and/or even relying on the counsel and assistance of others, and sometimes if they are merely good at picking trustworthy people, they might still end up being o.k. but they are still taking risks in terms of leaving some of those responsibilities with others who sometimes might not be very honest (or competent).

As far as your not wanting to take on those kinds of responsibilities for the guy, you are possibly correct because you might have good intentions, but you could end up screwing things up, and you could even get in trouble for it if you don't do it correctly and then either the guy makes legal complaints or maybe even if it becomes unclear if you might be engaging in practices that are supposed to be licensed.. not that I necessarily agree with the laws and freedom of people to contract privately between each other, but there could be a variety of ways to screw up when trying to help people with some financial (and/or bitcoin related) things that they should be able to do for themselves but are not ready, willing and/or able to do them.

Over the years, I have had people ask me to get involved with some of their bitcoin investing matters too.. and mostly I have refused.. even though surely sometimes we do end up getting sucked into with some of these kinds of needs to help others and there are some people who we might well trust in a lot of ways and we know that they would not be able to invest into bitcoin without a decent amount of handholding  so we might end up getting involved in those kinds of relationships, since they might have gotten into bitcoin through their conversations with us, they might end up continuing to rely on us, even if we might try to make sure that they know that they are responsible for their own BTC decisions and investments, we still might feel some needs to help some of these people from time to time to make sure that they do not totally end up recking themselves.. It is not necessarily an easy balance.... when we have various kinds of relations in the real world.. and if we might talk about bitcoin from time to time in the real world, it may well have real world consequences for people around us and in various degrees of relationship to us.

Your idea to you it's a great one but generally it doesn't work that way you have to learn have the grounded  knowledge of a thing before going into practice. What you're invariably saying it's like a student gaining admission into the college to study a particular discipline but he's being given a certificate to start practicing the discipline while he's just starting to learn and grow in knowledge about it. 
How can that person know how to face the challenges that's associated with that field when he has been inculcated in the knowledge of it already? With a little volatility that strikes resulting to a long bear market what do you think will be the response of  the investor that invests first before trying to learn about bitcoin contrast to an investor that have learned and knowledgeable about bitcoin before investing?


Allow anybody to think and believe whatsoever they want regarding bitcoin the most important thing is that BTC keeps disappointing them each year by gaining stronger ground and wider adoption and value. We know a lot of people that criticize bitcoin a decade ago today they are now the campaigners of the digital asset after seeing the progress.

I get the whole point you are trying to make, but I wasn't trying to say that Bitcoin risk is more than other investments or business risk. What I am trying to insinuate is that even if Bitcoin is riskier than other investments, I still choose Bitcoin., before I made the comment I had already known that every investment and business has its own risk. That is why I said what I said earlier.
Well, I chose Bitcoin because Bitcoin has the potential to improve more than other online investments or business. As for me, I don't deal with shitcoins or altcoins. If you can take your time to read through all my comments on this thread, you will understand that I don't give a fuck to altcoins or shitcoins.

However, we all know that Bitcoin has a risk. We cannot keep that aside, but anyone who chooses to take the risk will surely get the profits he/she deserves, although, each time Bitcoin fluctuates, either we gain or we lose, but that can not stop Bitcoin investors not investing in Bitcoin.
No, I am not.
Bitcoin is a good means of investment and for those who want to make it part of their business.
Yeah, it is true though, those that are waiting for Bitcoin to fall to the price of zero will definitely wait till their dear life if they don't take advantage of Bitcoin now.
Honestly, I wonder why they are so dumb when it comes to Bitcoin investment. Honestly, I could conclude that some of them end up investing in some shitcoins or altcoins because what they are expecting from Bitcoin (for Bitcoin's price to fall to zero), they are not getting it, so they buy some shitcoins and altcoins that are so low to their liking.
Honestly, you can't expect everyone to have the kind of knowledge you have about Bitcoin. Some people are really scared of Bitcoin (like some governments), although they can invest in Bitcoin, but with the kind of misconceptions they have gotten from the wrong hands. They don't have the kind of knowledge you have about Bitcoin, they end up not investing and still painting BTC black to others.
Exactly, it is a very bad idea not to invest in Bitcoin even after getting the knowledge and capital to invest. It is good to do their own research because it will help a lot of people to understand what Bitcoin knowledge is. Like at the alma mater, after teaching, there is an assignment and assignment also help a lot of pupils to gain more knowledge about what they are doing, self laziness is what makes a lot of people get embedded.

I totally agree with the op, though the discussion has really gone and come a long way, i am just coming across the thread for the very first time and i guess it's not wrong to say something.
It is commonly said that experience is the best teacher, so this is to say that nothing beats being experientially knowledgeable in something, which in this case is bitcoin. It is one thing to read and gain some knowledge and insights in operability of bitcoin, how it works and all that, but it is completely a different experience altogether to have the first-hand experience in what bitcoin truly is and how it operates, for now, your knowledge of bitcoin is no longer completely based on what you read or what someone told you, but now, your knowledge is also based on your own personal experiences as well.

So yeah, anybody involved in this space deserved to buy some bitcoin, no matter how little, if you ever will try to teach somebody somewhere about bitcoin someday, you need to own some bitcoin yourself today.

 

Bro, you're misunderstanding everything that was said. Indirectly, you're still saying the same thing. Your friend doesn't have any experience with Bitcoin, what he has is belief in the potential of Bitcoin. That's why he entrusted you to manage the investment, as you have experience in this field. If you didn't have experience in managing the investment, would you have accepted his request?

Yes, you can make investments in various assets, including Bitcoin, without having experience, but only if your funds are managed by someone with little or much experience. Otherwise, your investment would be at high risk, and no one wants that. If it's an individual venture, and the person lacks experience, the investment will likely decline over time unless they learn and gain more experience in the process.

It's actually not impossible, believe it or not I have experienced it first-hand. I have a friend who works overseas and he has been so busy doing all sorts of job to save more money to build his own business when he gets home. He never had any idea what bitcoin is, he just read it over the internet, he also heard it someone talking about it in the work place but he didn't bother to dig on some basic information about bitcoin, all he know is that it could potentially create an opportunity to earn tons of profit. So, he ask me to put his money to bitcoin and he wants me to handle everything as he has no time to learn the ropes. I respectfully declined, I don't want to ruin our friendship if everything goes south. All I know now is he have someone holding his bitcoin for him, but he still have no idea what bitcoin is and how it works.

Experience can indeed be the most valuable lesson, but in my opinion it is impossible for someone to invest in Bitcoin if they do not have knowledge about Bitcoin.
It's better to do it simultaneously, understand and learn in a short time then invest in Bitcoin while continuing to learn, regarding the size of the money we will invest, we will of course adjust it to the beliefs and knowledge we have so that later there will be confidence in the amount of investing. But what you have to remember is to stay away from greed and learn to be emotional.