Topic: Bitcoin kwoledge is not complete without bitcoin investment - page 9. (Read 3427 times)

Yeah. You're very correct. Those who have BTC using an intermediary, though they think they have some knowledge about BTC will only have half knowledge about BTC.
Some knowledge are better learnt from personal experiences.

Having fundamental knowledge is important for all kinds of investments. If you don't know about the asset you are investing in then you are gambling with your money. Investment is not gambling; it is a combination of knowledge, vision, risk management and skills. Many people started buying bitcoin and dogecoin in the last bull market when their price was at its peak. Later they exit the market with a massive loss of funds. 

You are apparently right, as I have heard of some cases whereby the government and their officials have to do some illegal things just to make sure that their secret don't get exposed to others. Some of the reasons why most people find it difficult to act on their right is because they might not have the money to go further if any incident should occur, so, I can say that it is very hard for someone to compete with the government because they have it all, they have the money, and they still have the power to control somethings.

The real truth is that, the government doesn't fear any of their citizens, but they still do their things in secret ways for people not to know.


Although, it is not a 100% good idea to go against the government, but sometimes, if we know something that's going to help us and others and the government is refusing to allow the citizens to take good advantage of it, then I think people should look for a way to gain access to those things, just like the way Bitcoin is today that some government doesn't accept it and still keep a law for the Central Banks not to allow transaction with cryptocurrencies, so in these cases I do say everyone should figure one way or the other to get Bitcoin.

Sometimes, we don't have to disobey the government in a very bad way. That's why if we want to do something that the government forbade, we should also apply wisdom to do it, so that there will be no harm. The reason I said what I said was because even the government are not always right in their own ways. I wish they were always right. They wouldn't have banned or think that Bitcoin is a big threat to them.

Yes, I totally understand the whole conception about all the things that you are saying, and they are true. The government can go too far to the extent of taking a life just to make sure that they get what they want, let me bring the cases of JULLIAN ASSANGE, the US government went too far on that case, even as the citizens were protesting for the release of Jillian Assange but still, the government refused.

I think it wasn't a wise move to invest in Bitcoin when you wear hesitated. If you learn the pros and cons about Bitcoin it will become clear to you whether you want to invest or not. I think you missed out on that part. But it is okay now. As you own Bitcoin you should focus on learning about more and make sure you don't regret your decision. Owning the Bitcoin is the first step but the a lot more to learn. So as you move forward make sure to learn everything.

Also congratulation on your first purchase. Now you are one of us. Keep on holding. Make sure you keep your assets in a secure place and also your phrase key. If you are more into using a software wallet, Make sure that the device you are using it is air gapped. But if you want the maximum security I think going with the hardware wallet is the best option. You will learn everything as you move forward. These are the basics that I think you need to know. Cheers.

Going against your government remains a bit of a dilemma because no one wants to lose their life, liberty and/or property, and governments will frequently have differing views in regards to rights that are retained by citizens, whether we consider those as fundamental human rights or if we believe that such rights are derived from some kind of an authority..

It is hard to blame normal people for sometimes not understanding their rights or feeling enough courage to put systems into place in order to protect themselves and/or to even look after themselves.. and surely sometimes, many people who are even more than willing to go along with the dictates of their governments will sometimes just get pushed too far and they will feel needs to revolt in one way or another.

I am surely not anti-government, but there are a lot of times in which governments go too far in terms of exercising their power, and that going too far likely takes place in all countries, but just in differing ways and having impacts on differing groups of people, depending on the various in-place systems (infrastructure), culture and/or history of the country

It maybe a waste of time , but not of resources because as long as you are not poutting any single amount you are not losing or spending resources so that is a wrong interpretation , maybe what you mean is waste of chance to gain more resources.
another wrong statement , Poor countries ? what about those richer country they need not to be more serious?

remember that even the first country to adopt Bitcoin (EL Salvador) is still struggling to make their people trust and invest in bitcoin.
so that is not the point , rich or poor first need to trust before investing.

However, no knowledge is complete without putting what one has learned into practice. Knowledge is good and also, practicing what you have learned is also good, and it will give you more experience and more knowledge that you haven't gained before.

Bitcoin is a good store of value, even if Bitcoin isn't worth anything today, it doesn't matter at all because the future is brighter than now. Why did I say what I said? I said this because I believe that Bitcoin is not something we should buy today and sell in the next 10sec, it is something that an investor should hold onto for dear life and I also understand that the more an investor holds onto Bitcoin, that's the more knowledge the investor gets so, without putting the knowledge to practice (by investing) the investor will just stay without adding more knowledge to the ones he/she has already learned before.

Bitcoin experience gives an investor new knowledge. When Bitcoin's price increases and when it decreases, only knowledge will not give us experience, so if an investor that hasn't invested in Bitcoin needs more knowledge, then he/she should invest and learn more from the investment side.

In some cases, so many people happen to be in a particular country that doesn't accept Bitcoin, but they have knowledge of Bitcoin. Some people end up believing what the government have said about Bitcoin, but still with their knowledge, out of fear, they just quit investing and watching others invest. The government can't control Bitcoin, so I still don't think that the same government can control Bitcoin investors.

Yes, knowledge isn't complete without investment. Beacose we can get knowledge about Bitcoin price, price movement or other movements about Bitcoin. We can see the price movement that will gain us to thik when will the price of Bitcoin go up and when will it go down. But if we do this type of thesis that will gain us a short knowledge about of Bitcoin market. If we do thesis about Bitcoin and invest in Bitcoin that will help us more to gain proper knowledge about Bitcoin. Beacose if we invest our money then it will generate more exciting thinks about technical things of Bitcoin. The transaction of Bitcoin and invest will increase our experience about Bitcoin and that will connect us with the crypto world properly.

That is the main reason. I will prefer to gain proper knowledge about Bitcoin then do proper thesis and invest in Bitcoin that will help you to get proper knowledge and will give you big profit.

If you learn about Bitcoin without investing in it, what is the essence of the knowledge? Such exercise is tantamount waste of time and resource because it investing in Bitcoin is like putting the knowledge into practice. 

Those from poor countries are supposed to be more serious with Bitcoin that can change their situation. There is no need giving excuse because to start with Bitcoin does not require much, just small amount that is done regularly can grow onto something massive. This is where Knowledge of the technique to apply comes in. You can follow the DCA method that comes handy for this.

Being in a poor country does not deprive one from buying bitcoin,  you can still buy according to what you can afford.  You don't need to save up money or wait till you have reason amount of money to buy bitcoin,  you can by in small fractions abd accumulate,  this is a way you can meet up in buying bitcoin.

No doubt the knowledge is needed but not enough if you never had bitcoin to practice the knowledge you gained, no bitcoin with just knowledge is nothing.

If I have to be neutral on the position of the OP's question, then there are many people who study bitcoin without investing in bitcoin and that is a decision he might take and just reset about bitcoin for his knowledge and that is a natural thing and also we cannot force them to invest in bitcoin, because their aim is only for scientific study.

But I will agree with the OP that if you have knowledge about bitcoin but don't invest in it, if you are an investor, it will feel incomplete if you don't invest in bitcoin, especially the people in this forum who learn about bitcoin every day, talk about it. bitcoin and so on, it is incomplete if you don't invest in bitcoin.

This is very subjective, and whatever it is for those who want to invest or not in bitcoin, even though they have knowledge of bitcoin itself, that is their own right, it's just that I think that when someone understands bitcoin and sees the potential of bitcoin in the future, it is stupid when not trying to invest in bitcoin.

The hope of getting rich quickly is the main goal of those who are new to Bitcoin. Even what they think is Bitcoin is not Bitcoin, meaning that many platforms use Bitcoin as a tool to extort or promise ordinary people to enter with large profits, even though they are in a fraud trap.

Having basic knowledge about crypto would be better so as not to get caught by scams on behalf of Bitcoin.
For beginners who invest in real Bitcoin even if they try to enter at any time, it can be a pretty good investment for the long term.

Long-term investment with Bitcoin can provide considerable returns (depending on how much is invested).
Buy and hold on Spot exchanges, don't trade Future if you're a beginner, it's just a waste of money because you don't know what you're doing.

Many people fail in investing because they just follow along, instead of getting to know and learn first. they are unfamiliar with technology, do not understand what the purpose of bitcoin is, what they understand is that bitcoin is an investment in the hope of getting rich quickly. So before investing, you should learn about Bitcoin first and yes, learning knowledge about Bitcoin storage is very important to avoid the threat of hacking. Apart from that, you can also change your mindset and be able to control your finances well.

The point is that bitcoin is more of a long-term investment, as long as you haven't sold it, you haven't made a loss, if you play futures or other crypto it's really hard to make a profit, if you invest in bitcoin it will almost certainly generate profits for the next few decades because bitcoin is technology, and nothing can stop technology.

I actually get your point, but knowing it's potential and benefits, it wouldn't be a waste if we accumulate it. For sure even those regions you are referring to have numbers and statistics that are accumulating Bitcoin, is just that it would be different on the situation based on the person's situation and experience. Plus investing or trading can't be rushed, if you think your knowledge is still ain't enough, then invest with yourself first, learn and study. We're in the era of the internet already where you can have the information on your hands by just one click. There's a lot of people who started online by doing their own research, if you can't afford, then for example the signature campaign here by just simply joining and meeting the requirements, you could already attain Bitcoin.

I don't know what the future holds for bitcoin. But in some cases, there are many Talented people who research their bitcoin futures. And I do not believe in anyone's words, in my own actions and in what happens next, because then something bad can happen again, good and only the happiness of the present will be put at risk for the future. Yes, in many cases it is better to invest in bitcoin, but in that case you have to bear the risk. I'll tell you the truth anyway. Today @BTC_Archive publishes a news about Coinbase or going to Approve bit coins again. This is certainly good news for bitcoin and its holders. I have given you the news link below for your benefit. If you see my mistake, thank you.

Tweet :- JUST IN: SEC likely to approve #Bitcoin    ETF soon says Coinbase Chief Legal Officer - CNBC
News Link :- https://twitter.com/BTC_Archive/status/1715350207594946898?t=c6HnxVrL2VToBwiV3rLa5Q&s=19

You have said so well, and I do support that face that, one should figure out how to get Bitcoin if the government of the country doesn't support it.
Like in my country, Bitcoin has been limited, but that doesn't stop me or others who have good intentions of purchasing some good percentage of Bitcoin to buy, and in some other countries where Bitcoin is illegal, there are also people that do invest in Bitcoin. For instance, Gabon, Cameroon, Zimbabwe and Libya e.t.c, are some of the countries that do not accept Bitcoin, but there are still Bitcoin investors in those countries. The important thing for anyone who lives in those places should do is to look for a better and save way to get some Bitcoin and hold.

One of the things why some of these countries do not accept Bitcoin is because of the misconceptions they might have gotten from a wrong source. So, with their attitudes toward Bitcoin, I noticed that they see Bitcoin as a big threat to them, but no, Bitcoin is not a threat to anyone. If most of them can just give it a try, they should freely allow Bitcoin to flow in their country without any fear.

With my little research, I found out that South Sudan is one of the poorest county in the world today, but my greatest surprise is that the adoption of Bitcoin is increasing (no much surprise) unimaginable in the South Sudan these days, I still get the information that their banks also allows cryptocurrencies (Bitcoin) transactions via bank transfers and other methods, so, I do believe that if anyone is still interested in Bitcoin, even the government can not stop the person to buy some, unless the person is a bit sceptical about the investment or doesn't know what strategy to use when buying.

In reality, the knowledge of bitcoin isn't complete if you're not a hodler of bitcoin.

For you to get the feel of what the space is like, you have to be an active participant in it else it sounds fictional to you. What's volatility to you if your portfolio doesn't reflect it? How then can you say you clearly understand bitcoin without a bitcoin investment.

Having confidence in what we already know will make us successful in trying to carry out what we already know, this will be much better and of course, if in trying we fail, of course we will be able to overcome it because we really believe in what we already know. Not being confident in the knowledge we have will certainly make us unable to apply what we already know to our lives and this will be very detrimental to ourselves.

Knowledge is never considered a waste, and knowledge with practical implications is just perfection. I think knowledge along with BTC investment teaches you a lot. You will learn more enthusiastically about trading, chart reading, price fluctuations, upcoming events, and news when you have an investment in Bitcoin.
A person can invest in Bitcoin without any knowledge, while another can have all the knowledge and still not invest in Bitcoin. You can share your knowledge with others and tell them about Bitcoin. At some point in life, you will have money to invest, and your existing knowledge will be very helpful in getting you a good profit.
 


You can accumulate BTC in developed countries, which have some regulations in place; when we talk about underdeveloped countries, they do not have any resource or plan in place to stop BTC buying/ selling in their country. Most of their government officials are actually involved in BTC investment (opinion). I think everyone can access Binance from their country (through a VPN if access is blocked), so accumulating Bitcoin is not a problem.
As far as high fees are concerned, they are in accordance with the country's currency / USD.

When it comes to bitcoin accumulation, one of the main difference between a poor country and a not so poor country, is that the main thing that you need to learn is how to get bitcoin if it is being suppressed..  so if you potentially have high fees due to lack of options, then you likely need to figure out if you can find some kinds of ways to reduce your fees... so the mere fact that you are from a poor country is not going to affect abilities to purchase bitcoin as much as your having mentioned that avenues to get bitcoin might be suppressed.