Topic: Bitcoin kwoledge is not complete without bitcoin investment - page 6. (Read 3441 times)

Apart from having to remember some of the things you have mentioned, I think financial benefits also need not be forgotten because this is also part of Bitcoin's completeness with very clear evidence that Bitcoin can indeed provide financial benefits to everyone who has believed in it for a long time.

So studying Bitcoin by including some of these things is indeed very good and also very comprehensive, but financial benefits are also important to learn because this will make everything else worth learning for everyone. If there is no financial benefit in it, why do we learn all these things by using more time that could also be used for other more useful things?

Isn't it better to invest in where the risk is minimal or no risk? I care about profit, but that does not really mean I will take risks for my hard-earned money. It's easy to create a token, or coin by spending a couple of hundred dollars and running some promotions. If you check coinmarketcap, there are 1.8 Million cryptos (Shitcoins). How many of them were listed on exchanges and how many tokens/coins name you can remember? Those are centralized pump and dump coins. Most of the developers run away with investors money while Bitcoin is safe if you compare it. It's better to have little profit than losing your entire investment.

I agree with what you have said so far. Basically, practicing what we have learned is a good idea because, while practicing what we learned, we will gain more knowledge than the oral knowledge that was given to us by the teacher or from what we have read.
( I.e) some female children that really want to learn how to cook good meals for their parents always look at their mother or their chef while he/she is cooking, but without the female child practicing what she sees, she can not have good experience of cooking, so the child must practice it first before she can be perfect in it.

Coherently to Bitcoin, if there is no practice, then there is also no good knowledge. (I believe this statement), like most of us might have already heard that knowledge is the key, but practice makes perfect, I underlined that statement because it is very important. It's very important because it's true. Without practice, knowledge will be a very big trash.
These are some of the reasons why, while we are attending high school, some lecturers do give us an assignment so that students can practice what they have learned so far. So, without practicing what we have learned, we can easily forget about it, more especially for those that do forget things easily.

I want to share my experience with WeFinancial, a platform that claims to be trustworthy but turned out to be a huge disappointment. I've been a client of WeFinancial, and I've seen how things work from the inside. It's not pretty.

To put it simply, WeFinancial cheats traders in a really cynical way. They make it seem like they're doing all these checks to protect their clients, but it's all a facade. In reality, they are just out to deceive people.

The website itself is problematic for clients. It adds issues and complications, making it even harder to trade. These scammers have nothing in common with legitimate brokers.

And the most alarming part is their lack of proper registration. They claim to be in places like Grenadines, the Republic of Estonia, or St. Vincent, but it's all smoke and mirrors. They don't have any real oversight, no licenses, and no regulators. It makes you wonder who falls for their schemes.

I fell for it because I hadn't dealt with scammers before. I've always traded on platforms that delivered on their promises. But WeFinancial is a whole different story. They blocked my account with $80,000, and it's been a nightmare.

I just want to warn others – don't trust WeFinancial. They offer services that seem too good to be true, and that's because they are. I'm currently in the process of trying to get my money back through Tracingia LLC, a firm that specializes in helping victims of scams like this.

In the end, the choice is yours, but I wouldn't recommend opening an account with this broker. It's been a tough lesson for me, and I hope others can avoid going through the same ordeal. Be cautious and always do your research when it comes to your money.

Practical knowledge of each subject is very necessary. If you don't have practical knowledge then your verbal knowledge will not be of much use. If everything was based on verbal knowledge or concepts, people would not be so focused on practical work.  

Let me give you a small example, we see various videos about driving on YouTube and those videos clearly mention the driving techniques and how to drive? Of course we can't, because we have to try to apply what we learn about driving. You can compare this example of mine to education and investing in Bitcoin. No matter how knowledgeable a person you are about Bitcoin, every time you go to invest in Bitcoin, whatever verbal perception you had about investing will change.  
An investor understands the true meaning of investment when he invests in Bitcoin. Just as our preparation before giving the exam is not 100% common in the exam, even if we know everything about investment, still we cannot apply 100 percent in practical application, that's why every investor should invest at least once to understand the real meaning of investment.  

As an investor invests and researches more about the investment he will gradually learn new things about the investment.

It's a good idea to set aside 10% of your income to buy BTC. Indeed, to get bitcoin, we don't have to go through the mining process, we can buy it on the open market with various investment patterns and types, whether using DCA like the one you have implemented or just a normal model.

Well, on the other hand, hackers are also a big problem for Bitcoin exchanges and as you said you need a safe wallet and don't mix up how many coins you have in one place because it can make you a target for hackers and identity thieves.

I think Blue Wallet Link: https://bluewallet.io/ is good and really deserves a place for your BTC.

There are many people who invest in bitcoin with zero knowledge, and most of them are investors or businessmen. Maybe they have an idea, but to say that they have done 100% research on Bitcoin, I don't think so.

Now, if we only do exploration or learning with Bitcoin, although it's not bad, we won't be able to appreciate the beauty of Bitcoin if we don't have its holdings, and to do this, you have to invest in or buy Bitcoin.

This is not true. While investing in Bitcoin is one way to apply your knowledge and possibly gain financial benefits, it doesn't define the completeness of your understanding of Bitcoin. Bitcoin is more than just an investment. I mean, it has broader significance, including; ownership, transparency, security, and more. Many people even study Bitcoin for just educational purposes, to understand blockchain technology, or simply to stay informed about digital finance. Let's stop forgetting that Bitcoin's value goes beyond financial gains.

I agree with you mate on the point stated and also want to point the fact that, most times our greed also is what leads us to be a victim of fraudster or scammers, the feeling to wanting more, why not just go with the already picked strategy and follow it up. Consistency and discipline in Bitcoin investment is what truly matters because if you start up an investment with low capital and you somehow seem to be very consistent in it then you will be surprised of the result will achieve at the long run of your investment.  

Bitcoin investment become much easier when you are firm and keep to the method you have chosen because anything that takes your focus and discipline away from the strategy you have adopted might end up the wrong way, especially if you let the feeling of wanting to gather more in a short period come playing in your thoughts, it can lead you to big losses because most investor lose this and tend to go for trading which for me is the most stupid thing  and option to take as an investor to help you boost your investment, because trading for me is just an advance gambling as there's no certainty to what can happen to your asset, well there is actually one very certain outcome if things go sideways which is loss of everything so its better to stick to the plan of consistency and follow up with your investment.

This kind of thing depends on how you go about it because I think at the end of the day it's also about consistency.
If we make an investment with a small nominal, for example $5, it will definitely be small if in the end you only do it once but when this is accompanied by consistency where doing $5 repeatedly maybe every 1 or 2 weeks the results will still be more than expected.
Therefore, we must know what we should do with the investment made and what strategy we will take when investing.
For the problem of being deceived in bitcoin, this depends on the thoroughness carried out because if you look at the current conditions sometimes the problems that occur in bitcoin are complex and if we are not observant and careful then you could be exposed to fraud or even get problems from hackers or others, therefore we must be careful to keep what we have, especially with the security problems of the wallets we have.

Firstly you need to be able to differentiate whether it's investment or trading because what I can understand from what you're saying is that you're generalising about trading and investment,
Even though in this case the object is the same (bitcoin) but you cannot say that investment and trading are the same because in the end these are 2 different paths with different processes carried out.
Investment certainly takes a short time compared to trading and the risks faced will also be different because in the end even though investing in bitcoin is risky but when looking at the risk it is much smaller than trading which is indeed very large.

Apart from that, any trade with any scheme such as scalping that you say the risk is still the same so it would be better if we cannot anticipate it then invest the right way and don't look at trading because this can make it difficult for you because no matter how smart we trade, in the end sooner or later there will definitely be mistakes that you cannot even bear yourself as a result of the resulting trade.

It is true, without large capital, the long-term profits that can be obtained are very small, but every Bitcoin investor must have broad insight into Bitcoin, especially now that there are quite a lot of fraudsters who are aggressively tempting investors to join them, with good insight. regarding bitcoin, the possibility of you being deceived is very small, especially for long-term holders who are planning to sell in the next few years, small things such as the personal wallet that is used must also be paid attention to, and finally, never put bitcoin in CEX, because it is very risky.

Easy to say but it would really be hard for some people specially to those who are really just that earning sufficient and all of those things are really that dependent on your or simply your expenses is really that more than on what you do earn on which you would really be that having a hard time on making investment even if you do really have plans on investment then it would really be that
so hard or really that be challenging on doing such investment even if you do know that it does have potential but doesnt mean that you are really that easily be able to investment.
Financial capacity or capability would be always the key, although there are really indeed ways on which you could really be able to do and you wont really be just making yourself that not able
to take some step or easily give up if you are on a hard situation. If you are really that serious on making investment then it would really be just that right that you should really be finding
ways on how to make such step.It would be challenging but it would really be that something worth if ever you do succeed.

No matter how poor you are, you can still invest as long as you have an income. Think of seeing bitcoin as a treasure that can change your financial status in future and have the believe, this is when you will know how important it is for you to start investing in bitcoin for a better tomorrow. If your current job pay is very low, look for a second job to help you meet with your bitcoin weekly budget.

It is impossible for you to get reach quick with bitcoin because it is an investment and I have seen an investment that will take very little time to grow very big that it can't collapse when the profit is spent. Don't think of trading because traders are not investors and bitcoin is an investment that will give profit in a long term. This is the basic knowledge that you need to know and then kick start into bitcoin investment and have the full knowledge through the experience in the market and how to increase your bitcoin and hodli it for a long term because I believe that bitcoin will keep pumping with timeline.

All you need to do is to start buying with little amount that wouldn't affect your income frequently and before you know it your bitcoin is increasing gradually with timeline. At least it is better to have something that you can fall back to in future than nothing, since your regular DCA should be based on your income and before you know it from your experience, in investingyou can even increase your weekly buying budget, when your income increases. We can't remain stagnant forever.

Your phrasing of the term "capital" could be misleading, even though I think that you are meaning it in the correct way, as a kind of way to manage funds and to make surt that you have more funds than to merely cover your expenses. 

In other words, sometimes people will misunderstand the use of "capital" to conclude that you need a lot of money, which truly is not the case, and the need for a lot of capital seems to be less the case in bitcoin as compared with other kinds of investments.. which surely is one of the advantages of bitcoin to be able to choose how much to put in and then how frequently to add to your bitcoin stash even if it ONLY ends up being small amounts on a fairly infrequent basis. 

It seems quite likely after 10-40 years of ongoing investing into bitcoin, even if small amounts, you would have fairly good chances to be in a better position from investing into bitcoin rather than NOT investing into bitcoin, and you may well end up in a better position than any other investment that you could have had made... at the same time, since there are not any guarantees in regards to bitcoins performance in the next 2, 4, 10 20, or 40 years, we can never really know except for figuring out an amount that we consider to be sufficiently great enough to invest into bitcoin in order to feel that we have done the right thing for ourselves.. or finances and our psychology.. and surely our psychology is likely to become even better if our bitcoin investment performs well, but we still may well be able to invest into BTC a quantity that is not so great as to cause us to fear if our investment does not perform as well as we might have had wished or even if it were to end up going to zero, which is another possibility that does not seem to be absent, but the possibility of going to zero should still be considered, even if not too likely.. but that still may well mean that we invest as aggressively as we feel comfortable, while at the same time realizing that there is a non-zero chance that our bitcoin investment could end up going to zero.


In regards to how people have knowledge in differing kinds of areas, I think that you are correct adultcrypto.  There are various ways to invest into bitcoin, but then when we get down to the financial part of investing into bitcoin, then, one of the most important things that anyone should know would be how to manage their finances, but even if someone does not really know how to manage their finances, they can learn on the job (meaning they can learn while investing), and surely the less that they know, then probably the more justification would exist for starting out with small amounts, but merely because someone feels that s/he does not hardly know anything should not mean that they should not get started.

Since each of us is responsible for our own financial decisions and actions, we should be trying to figure out how much to invest into bitcoin, if any, and how to do it, but if we choose badly in regards to either not investing enough or investing too little, then we are going to be the one to suffer the consequences, and these days even though it is likely that less than 1% of the world's population is either invested into bitcoin or even if there are more than 1%, thee overwhelming majority of the world's population is underinvested into bitcoin.

It is also likely a good idea to learn more and more about bitcoin as you are investing into it, even though you might not necessarily go wrong with continuing to invest into it without knowledge, but if you do not have very much knowledge, you are less likely to get your position size correct in order to coordinate what bitcoin is as compared with what are your various personal circumstances.. and surely bitcoin knowledge is ONLY of the 9 areas that I point out (you can see the nine items here) as in need of consideration when investing into bitcoin (and might even apply to other investments too)

I don't think @JayJuanGee is trying to downplay the importance of knowledge of Bitcoin. Knowledge of Bitcoin is good but that is not all that is needed to invest in Bitcoin. There are people who understand the codes behind the technology but are not holding any significant quantity of Bitcoin. On the other hand, there are people holding a good number of Bitcoin that do not understand one single line of code. However, there is no contradictions here.

I think a good nunber of those holding large portfolio of Bitcoin sees Bitcoin from the angle of money and investment and rarely pay any attention to the tech aspect. To them, it is all about securing and growing their money and nothing else.

To learn about investing we need to invest. If we only learn but don't have real investment knowledge then investment learning is nothing more than rote knowledge, and rote knowledge is never remembered for long. Education about other subjects and education about investing are a little different. Private tutors will help you to learn other things but to learn about investing you have to use your own intelligence and learn investing and apply it.
I am saying from my background that all investors have acquired the knowledge about investing through their own hard work. Others will actually help you a little bit but you have to keep trying and educate yourself about investing.

The way I invested in the beginning was to try to get an understanding of the basics first and try to match what I got with the idea into reality. Since I was in the early stages of learning about investing, I didn't want to risk too much money, tried to invest with a small amount of money, in case my investment went wrong, I didn't lose much money because my amount of money was small. With that small amount of money, I gradually went through profit and loss and gradually I caught my mistakes and worked on them.  
At some point I realized that what I had learned about investing was my real knowledge and I could definitely use this knowledge to invest and achieve success, so much confidence was built in my investment. I might never have learned so much about investing if I hadn't tried to gain practical knowledge about investing.

Yes that's true because in times of Bitcoin investment we don't have to really no everything or have so many knowledge before we could start investing although irrespective of the need to always be knowledgeable in everything but for Bitcoin accumulation we don't have to acquire so much of it.
 
Since our goals is to invest on Bitcoin with the motive of holding for many years we don't need so much of knowledge but however capital is what matters because if an investor doesn't have a good amount of funds on there portfolio and decided to invest everything without some funds to rely on is totally a gambling investment.

So is left for every investors to no there financial capability on the investment patterns they will use.

They hardly need to know shit about bitcoin in order to start to invest into it and to figure out that they are willing to hold for 4-10 years or more.   So they have to have their shit together enough in their own cashflow to ONLY be putting in money that they don't need for 4-10 years or longer.  Sure many people hardly know shit about how to manage their own finances, but they do have some ideas about whether or not the amount that they are spending is less than their income, so they should have some sense whether they have extra or not.  If they are not sure if they have extra, then they should not be investing into bitcoin because if they are not sure if they have enough, then they are gambling rather than investing.. so gambling would not be a good idea... but merely the fact that gambling is not a good idea, does not mean that anyone needs to know very much about bitcoin besides having some basic skills such as knowing the difference between gambling and investing.


I doubt that it is fair to categorize trading as if it were investing, even though some people have trading strategies that work for them, trading is mostly gambling for the vast majority of folks who have no fucking clue how to make trading a kind of sustainable income rather than a form of educated guessing that may or may not work out, which is also known as gambling rather than investing.


Why would people need to know about all of this kind of bullshit?

If you invest, then you accumulate the asset, and maybe it takes you 10 years or more to get to a place where you might switch to some strategy other than accumulating, depending on if you are starting with a lump sum or if you are only able to invest from your salary in small amounts maybe even 10% of your income in a kind of DCA strategy... but still that is not trading but building.  It is pretty rare to be able to build your position in BTC by selling rather than focusing on various ways of buying.. especially in the beginning accumulating years that may also take 10 years or longer to go from zero to having maybe 1 years worth of salary/expenses invested into bitcoin... so why fuck around with trading if you don't even have a whole years worth of investment into it?  Maybe we can assume that some people are starting out with more, but I would hate to just assume it rather than going with the idea that most people are starting with little and building up..

and you do that building up of your BTC stash by buying, not fucking around with trying to trade... especially for normies, which means not being professional in terms of trading and you don't need to trade in order to invest. .that is just stupid to presume that you need to learn how to trade in order to invest.. Who is pushing out those kinds of baloney and misleading ideas?  Investing is hard enough without adding that you need to learn how to trade too.  Nearly, pure nonsense to be suggesting that.


Well, if you invested $10 per week in the last 10 years, then you would have invested a total of $5,170 and you would have accumulated 4.62 BTC.  That seems pretty good, even though the amount invested was not necessarily maximizing, but we cannot necessarily know what the budget of each person would have been, and maybe someone could have invested $100 per week rather than $10 per week, so we just 10x those numbers, and it seems pretty good to me in terms of figuring out how aggressive that a person wants to be without getting worked up about trying to figure out very many things beyond how much can they spare (per week) in their budget in order to be sufficiently aggressive, but without necessarily being overly aggressive in order to lose their money, and gambling (or trading) with the amount that you invest into bitcoin seems to be overly aggressive and not even necessary in order to potentially advantage a lot from investing in bitcoin especially if you do it for a long time, and sure it is not guaranteed, but it seems pretty damned good as a long term investment, both historically and also that it does not seem that bitcoin's investment thesis is weaker now as compared with 10 years ago, even if the upside potential might be a bit less based on BTC already having had appreciated in value nearly 100x in the past 10 years.
 

Part of the reason that you don't fuck around with any of that stuff is to build your capital.. perhaps over 10 years and then maybe consider your options after that.  If you invested $100 per week into bitcoin and you have 46.2 BTC, then why would you want to be fucking around with other strategies.  Do you think that 46.2 bitcoin is not enough bitcoin (wealth) to have after 10 years of investing and $51.7k invested?  Or do you have some other bullshit gambling (trading) recommendations for how to approach bitcoin investing?

You are obviously missing the point. Investing in Bitcoin requires that one have emergency funds set aside after settling basic needs. You cannot have problems that requires money and still maintain your Bitcoin investment; there is a high chance you can damage your investment.

My definition of poor is not someone struggling to feed. It's those who can afford at least $10 to $20 per week after meeting their basic needs.


I will not even recommend trading for anyone because that is high risk and require so much technicalities. You can't even attempt to trade Bitcoin with small capital, it will just be like donating money to the market. The best option still remain long term investment which you already supported.

This shows you are undermining the power of little beginning.  @JayJuanGee did a wonderful job in explaining the DCA method which many people in this forum are already applying.  Many of them started with little income and are building their portfolio consistently. You never can imagine what you can achieve within few years with $20 weekly investment.