Topic: Bitcoin Legends and Veterans. Seeking wisdom... (Read 497 times)

Buy Bitcoin during late summer at it's lowest price then hold "hodl" for 10 years then sell.
Diverse your portfolio with Bitcoin, Ethereum, Cardano etc.
We are in the early stages of crypto, 1% of the world's population knows about blockchain.
Bitcoin halving in 2024, 2028 etc will increase the value of Bitcoin, future generations will invest into Bitcoin.
Crypto is already being used for online transactions like online casinos. It will expand to grocery stores and department stores in the future.
Everyone here on this forum are future millionaires as long as your diamond hands hodl for 10 years or more.

 

As long as Bitcoin exist, there is a lot of possibility to enter the market and get along investing with Bitcoin. Grab every possible opportunities you can have with Bitcoin. Acquire knowledge first before anything else to be able to survive in the highly volatile market. Getting into Bitcoin is a good thing as long as you have funds to purchase but always remember to invest only what you can afford and not everything you have. Notify yourself about every happening because most opportunities arise from such things and you can acquire more Bitcoin by grabbing such but just assure on their legitimacy to be able not to get caught into scam schemes.

I will give it a try .Crossing fingers   

Firstly Bitcoin did not promised everything instead it is us who take it as promises.

Second is Never become greed and stupid , take a profit even how small it is than losing .

Third Life will never be the same when you learn how to manage bitcoin and how to deal with this for their future and for being beneficial.

Thats why study and learning is what we need firs before engaging on this.

Bitcoin is a new technology, so it is only natural that many people still need education related to Bitcoin. We really have a lot to learn about Bitcoin
and blockchain technology, lest we be influenced by the FUD that is widely circulating regarding Bitcoin. Do not let us be influenced by other people
when investing in Bitcoin too, and also we must be able to control ourselves when investing in Bitcoin. We must be aware that investing in Bitcoin
cannot provide instant profit, it is a need long process. So patience is needed when we decide to invest in Bitcoin.

Bitcoin is revolutionary, yet, as with any man-made innovation, there is no such thing as perfection, especially in light of the current situation. I'm more concerned about the amount of energy required to mine Bitcoin, which is known to be so large that many people are skeptical of its feasibility and contribution to environmental destruction.

Bitcoin is an open investment vehicle that is owned by many ordinary people like you and me, as well as numerous institutions. Human nature always creeps in as the number of people who possess Bitcoin grows. We are constantly bombarded with bogus news, FOMO, FUDS, and everything in between. Bitcoin has evolved into a thrilling form of entertainment. Gloom and despair will always be a part.

Bitcoin and blockchain is an emerging technology, currently, it is the impending trend of the financial institution,  I would say before anyone to dive in, they should do their research deeply.  Don't ever controlled by greed and the thought of getting rich quickly.  Do not also believe in anything without verifying the facts.  Stay rational and calm.  Many will take advantage of us being naive but thru deep understanding and verification we can avoid uncertain and bad circumstances.

There's nothing much to do, to be honest. You have to be chill and relax whenever the price correction happens. You're not going to panic if you know what's going on, so always read and research about what you're doing and what you should do during price correction. Another thing is to buy the dip, that's a great opportunity when it comes on huge profit making in the long run. Patient is a must.

So lucky you are because you entered into the market at the perfect time but not everyone can do that which is the reason why they need to have enough patience until their goal price attain or else they will lose. Investments are really for long term people or else they should do some form of trading like day trading which is good for the short term profits.

Fool proof and proven strategy, I have done this for about 4 or 5 months and I was able to get a considerably high profit. I had my encounters with this HYIP back then but now I know better and good thing that I didn't get scammed by those schemes because I have people that I ask questions with to consult on what to do next.

This forum.

No seriously, I'd suggest him to visit bitcointalk. What would be a better place than the one made by the creator? The internet is full of garbage articles that will misguide him and make him believe that Bitcoin doesn't worth anymore or that it won't worth in the future, just like they always did. He has to stop seeing Bitcoin as “another” cryptocurrency. If he looks it that way, he'll never understand the importance of it, that is beyond the its smart technology.

My next advice would be to understand the technical background of Bitcoin. Only that way, he'd start having critical thinking.

Buy bitcoins and wait for years! There is no shortcut or free money. Newbies are attracted towards the high return investment schemes but in the end they are getting scammed and call the bitcoin as scam.

Make yourself a knowledgeable person by reading a lot and everything is available for free in this internet world.

I would like to add that a newbie should focus on only one cryptocurrency before branching off to other crypto, I suggest starting with bitcoin or any stable coin. I don't necessarily agree that you will do a buy low sell high scheme but if you habe no crypto in the first place, you just have to enter the market but if you already have some, you might want to do it since you won't get left behind even if the prices go high.

I haven't been here from the start, but it's been around 6 years of BTC usage for me. Here are a few things worth remembering:
- Be careful with your money. Make sure you have your passphrase stored in multiple places, use only reputable storage providers and when using websites, double check their addresses not to become a victim of phishing.
- Bitcoin price is very volatile, and you have to get used to it.
- Only invest what you can afford to lose. And when doing it, buy low and sell high.

It is difficult for newbies to understand the risk of investing in bitcoin. I would start with the most basic invest the amount that you do not mind losing, if the investment is long term it is ok. If you want to earn on margins, learn some trading techniques to earn small margins to accumulate as a short-term investment.
I would also tell you that bitcoin must pass a lot of tests to survive but not to worry because bitcoin is the hero of the movie.
Something like the bitcoin holding process described here:

When people start coming at crypto most of them including me are also interested with other crypto coin except crypto . and imagine if their buying that coin will had the same future like bitcoin . this happened for some shit coin who is get pump and dump in market. and many people who are new into market fall into it . do research about anything your invest in.

•Dont get Fomo'ed / FUD
•Dont think for Bitcoin to be magic internet money
•Dont Buy high Sell Low
•Dont listen into others ideas and shill - Always go with your own decision based on analysis
•HODL if you do aim for long term
•Dont be greedy and always set goals
•Always be wary on market fundamentals.

Well I wouldn't introduce the same on how my friend introduced me here. I would introduce them that this isn't stock market that you're messing around. This is unstable market that you shouldn't let your emotion get by. I would emphasize that the unstable word is a good thing because people tend to think that unstable along with finance is a bad thing.

You're welcome.

Study it first and take note of all of those replies on this thread so that you can assess yourself if you're going to be fine with the risk that you'll bear with it.

It's a worth it journey to me even I've done too many mistakes and series' of panicking.

1st thing is remember to spend only what you can afford to lose.

think long term (4-5 years).

dont chase perfection and trying to time a top/bottom exactly just getting on the right side of a buy/sell can be good enough if you can do it fairly consistently.

when in doubt, walk away for at least a day. or maybe a week or more. no checking prices/forums/etc. clear your head and take another look.

dont trade on emotion.

be aware it can all crash to zero so TAKE PROFITs here and there. it makes multi year bear markets waaaay less stressful.

obligatory not advice although the above worked for me.

edit: the above applies to bitcoin. since i dont do shitcoins (aside from mining shitcoins to trade for btc) i have no suggestions for altcoins aside from staying away from them. most are junk and will not be around long term.

Gain enough knowledge and know the risks of crypto investment. Learn how to deal with the market and take its volatility as an opportunity to gain a good profit. Keep in mind that investing and trading here isn't all about gaining profits because there will be times where we could experience mistakes and downfall which is part of our learning process. Have patience and avoid listening to manipulators so you'll never have regrets in the future.

Remember bad news always spread faster? I guess that is the reason why would you said this space is filled with negativity. I believe the longer you stay around in the cryptocurrency space it will give you the experience that all of it is meaningless. Bitcoin has been predicted and said it's dead, yet it keeps going stronger.

Also acknowledging the basics of Bitcoin's technical side will give you an insight into how powerful Bitcoin is.

Buy Low,  
Hold,
Hold some more,
Hold a little longer,
Price finally goes up,
and then sell it like it is on Fire.
Wait for the Price Crash
& Repeat.

Happy Trading .  

I would also like some wise advice. But it seems to me that hardly anyone will share their secret of crypto trading.

If you want to invest in bitcoin, just invest the money that what you can afford to lose and learn about bitcoin volatility. They do not have to buy with a lot of money in just a one-time buy, but they can spread their order buy in many order buys to get bitcoin at a low price. As bitcoin is found on the internet, it needs to learn in many places, but they can ask for more details about bitcoin from someone they know. But never follow other people's suggestions or advice before searching for themselves because others analysis will not always be for you.

Bitcoin Legends are not necessary veterans, and the same the other way around. And we can look to their lessons to seek our own wisdom, for example to see their behaviors not knowing what was in store.

Some people came in from the very start, started trying to trade and regret selling at $3 and liquid at 10.
Some rekt from throwing away Bitcoin private keys and forgetting.
Some put into other alts and much regret.

We have the fortune and we can have the wisdom:)

Ignore others and "only" trust your own eyes and judgment... Don't get too excited ^{[unless you know how everything works]}, that could lead to a disaster if you rush for it. BTCitcoin has lots of interesting fields other than the freaking trading part ^{[use it in the right way as opposed to seeing it only as an investment asset [it's more than that]]}.

It's very simple, forget about price and profit making and start thinking of bitcoin as the only decentralized currency that exists. Now you can see that there is no difference between someone who started with bitcoin years ago and someone who would start today. In fact one might argue that bitcoin is a a lot more decentralized today than it was in early days.

The time to be a noob in Bitcoin isn't the tail-end of a bull market. Right now, everyone and their Grandma thinks they know blockchain and pre-mined corporate/foundation-coins will make them rich. Yet, it is clear that this will bring a lot of newbies into Bitcoin.
 
A lot of them will remain limited to the cesspool of Telegram groups, referral spam, doubling scams. Some of them will graduate to dev channels in Discords. Lower still will have the ability to recognize the history and importance of this forum. (BTW, congratulations on passing the steps yourself, IF you are a new account and someone old/ a concern-troll masquerading as a newbie).

The last level is of the very minuscule percentage that can actually think for themselves. They will go on a path of self-discovery starting from the Bitcoin whitepaper, initial communication on the forum, Hal Finney's posts about Bitcoin, the countless experiments of governance (Bitcoin Foundation), smart-contracts (colored coins), Blocksize debate and will come to the realization that the first priority for "sound money" is decentralization. The rest of the ecosystem simply flows from this one fountainhead.

If you are serious about it, you can read the excellent articles on this website. It has lot of good resources for those who actually seek an alternative to the world financial order and not just a "get rich quick" scheme.

Bitcoin is an open investment vehicle and owned by many ordinary guys like you and me, aside from many institutions now also participating. With more and more people owning Bitcoin, human nature always sets in. We are always subjected to a good deal of fake news, FOMO, FUDS and things in between. Bitcoin has become like an exciting show business. There will always be gloom and doom part of the whole story but if one has the real interest with Bitcoin one can easily see the beauty and benefits amidst misinformation and manipulations. One has to be in Bitcoin for the long-term, not unless you are into trading, of course.

Begin with basics.

Bitcoin inflation chart

Recommended wallets
Choose a non custodial wallet to store their bitcoin. If they trade on exchange, use Spot trading. Future and Margin trading with leverages will put them in the verge of liquidation. They will be liquidated and lost their bitcoin.

The more things change, the more they stay the same.

Having paid attention to the community for a very long time, I'd say that there aren't any new arguments that weren't considered since the beginning. The difference between bitcoin earlier and now is that it is more accepted by the global community.

The question still remains - is is stable, is it viable, will it grow, will there be some event that stops this?

Before that question was based on the software, the protocol, the regulations. These have proven themselves. Now, the question is about global acceptance due to "institutional investors" or alt-coins. But, the principles haven't changed.

Will the number go up? Yes. Maybe not immediately, but always eventually, at least until ethereum surpasses it and then crashes. Human greed in the dollar destablises the dollar, causing more people to move to a more predictable currency like bitcoin. Bitcoin is predictable, even if volatile ("number go up because number go up"). No one wants to live in a mad max world, but covid lockdowns have shown us something that we have never seen before, with the prices of things like tools in the US doubling in price over the past 1-2 years, housing costs increasing by 30%. Alt-coins are not large enough to have the same predictability as bitcoin, which remains quite volatile. The volatility shows opportunity, and risk, and point to how large bitcoin could yet grow.

Wisdom? Be careful with all currencies, diversify your portfolio. Multiple cryptocurrencies is not necessarily diverse when they are all tied to bitcoin, and when they gain AND LOSE much, much faster. Enjoy life by finding a project that gives you meaning, and not betting what you can't afford to lose.

The best advice I can give to newcomers or new to Bitcoin is to LEARN or KNOW what Bitcoin is first. Even you are not techy, you can know the basics of Bitcoin, what it uses, how it works. So there are no excuses even you are non-techy.
There are a lot of people who do not appreciate the use of Bitcoin since there are some people that they are only into money, not the technology itself.

Neither a legend (except this account but it doesn't mean much so ignore the rank) nor a veteran here, but if I were to encourage my newbie self a few years ago, I'd tell him/her to be more steadfast with Bitcoin. For as long as Bitcoin is still valued in terms of fiat, it is still young. Ignore the price fluctuations. Time will come goods and services would be priced in Satoshis. In a system of rotting fiat, Bitcoin is a diamond. But, of course, you wouldn't come to such conclusion without knowing Bitcoin first. So first things first.

Thank you for your time and reply. Very wise words indeed. I typically wont yuck someones yum but after some diligence ETH is not for me. "Invest in your knowledge of Bitcoin before investing in the coin itself." Thank you for that. Trying to process it all. Really appreciate people taking the time to share wisdom.

Invest in your knowledge of Bitcoin before investing in the coin itself. Someone who tells you to "Invest in Ethereum & Cardano " is not being helpful. It is not wisdom. Ignore them.

Classic Wisdom. Thank you very much for your Wisdom. Currently i have nothing to HODL. Just feeling the waters to find my crypto home sorta speak. I am inspired by Bitcoin and want to find my place in it. Getting feedback from people like you reaffirm there is still great promise for the future.

Thank you  for your Wisdom. Been looking into POS . ETH just seems . Not my cup of tea

HODL works.

That's the encouragement that I'll tell my old self for which is very effective. If you're treating yourself as an investor of bitcoin then you should consider yourself as a long term investor.

It's easy and you don't have to take all the pressure that everyone gets upon market crashes.

Bitcoin has been in lack of development for years now,
all the bitcoin devs care about is Offchain network like LN and Liquid, which almost no one else cares about.
Except maybe the Banks.

Ethereum and Cardano are into Smart Contracts and Token creation,
and in the Proof of Stake which avoids all of the environment and bad PR that Bitcoin is getting for Proof of Work Energy waste.

All of the Financial guys are heavy into the potential for tokens and smart contracts, so the fiat money is headed there. IMO.

Thank you for sharing that bit of wisdom 

Just curious . I know these two are in the top tier of alts but do you have a hidden diamond in the rough? Something still very beta but top tier potential?

Is your Loyalties still with Bitcoin? Do you still get excited about its development?

Some of you have been here from the start. What advice would you give someone just finding Bitcoin. They see the promise of Bitcoin. They are excited but just need some guidance on a good place to start. How can someone finding Bitcoin today have a place in the bitcoin realm? Seems Like doom gloom and negativity Rules the space. Anyone have some optimistic insight? Remember way back. Your the Noob. How would you encourage yourself?