Topic: Getting the Right Information About Bitcoin and Don't Be Misguided! - page 2. (Read 300 times)

It really of utmost importance that people need to know that Bitcoin is not a quick money making scheme just as you rightly said, outside the fact that people see bitcoin as an investment, it also advisable to let people know that bitcoin is also an asset, that has lots of value's, just the way you have real estate. All you need is the right information and education and how apply it.

You talked about crypto illiteracy, sincerely that is one aspect that has held some people down on how to go about crypto, because they are skeptical and don't really know how to approach the crypto industry especially for those of them from developing nations, I'm saying so because I can relate.

In Bitcoin trading, it is always advised you learn more on the risk factors involved, so you can know how to navigate the market and manage your risk so you won't run into losses. Don't go with the notion of "no risk no reward mindset", when you can actually avoid risk. Though it doesn't mean you won't incur losses as trader.

Knowledge is power! With the level of high technological advancement in the globe now if you allow yourself to be deceived you are on your way. You don't need to stress or go out to seek knowledge anymore as far as you can read and understand you're good to go. All you need to do is to have data and stroll over the internet and your doubts will be clear. Google is available always for you. However, seeking physical knowledge is also important not only in crypto but extending to other aspects of knowledge. The internet itself now has become a tool for misleading and propaganda that if you are not in the right place, you'll be easily confuse and misguided.

Learning bitcoin is a process where you don't rush to accept what others say about it. Find a mentor for yourself, read books on bitcoin, browse the internet as well and sit yourself down to ponder if you are ready for the challenges ahead of you as bitcoin is concern. Do not rush to it because you see people doing it or you abstain yourself due to what people say about it. Seek for information and decide for yourself.

I would say instead of believing all of them have a mindset to verify the information from different sources like whether it's authentic or not or instead have some useful resources and sites to gather your data.The most fake influencers these days are over YouTube and social media spreading fake things just to hype themselves up and people who get fooled in their blabbering.This forum is great source to get any information if you need it so try to spend more time and gain knowledge with time if you can.

It is correct that one of the impediments to the spread of Bitcoin adoption is misinformation. People are brainwashed that Bitcoin is like altcoins and it is marketed as a means to make quick money. However, the major cause of this misinformation is unfavorable government policies. When the government is not friendly to Bitcoin it will discourage many reputable firms from investing in the country and this has made scammers use the opportunity to defraud people. If the government allow genuine business to run in the country, most people will not heed the advice of these scammers hiding in social media.

To discourage people from investing or using Bitcoin, the government also engages in smear campaigns to frighten the people against using Bitcoin. Negative news about the Bitcoin system gets headlines in the news, while positive breakthroughs get no publicity. The government is a major promoter of FUD, all in a bid to reduce Bitcoin spread.


Bitcoin can help nations bypass high transaction fees during international trade. It could also be of help to nations that are suffering from sanctions since its decentralized feature can be used to bypass intermediaries like SWIFT. Citizens who invest in the sector can make a profit and increase their earnings. But Bitcoin as a currency or investment cannot grow a nation's economy. Economic growth is propelled by many factors, Bitcoin can be an addition.

I dont introduce so openly bitcoin or crypto to my friends cause I know the risk and they might not used to it. A possibility of losing -90% of their money is possible so if they saw that probably they will blame me and tell a lot of bad words. So better to explain it clearly to them in a sense that a scenario like that is actually happening on crypto space. Ive got some friends who earned a lot but there are as well those who got burned badly. Risk and finance management always back each other so as long they understand that then I will be willing to teach them about it.

If they got wrong information about Bitcoin but actually bought bitcoin, it is good enough for them. They at least bought bitcoin and have it that is better than if they buy Wrapped Bitcoin tokens or other altcoins which can cause them losses more easily and seriously.

They can start with Bitcoin Wiki to get right information.

They can also learn more about Bitcoin with Beginners guide from Learnmeabitcoin.com

I also can't find ways a person can be forced into Bitcoin investment.  People might be enticed by triggering greed that lead to the investors being pressured to invest to Bitcoin since the trigger is being pressured by own greed.


It is entirely correct within true friends, they will not allow any harm come to their friends unless they are also unaware of that harm.  The sad thing is that many pretends to be a friend just to exploit us and profit with our misfortunes. So it is best to know who to be friends with and always be vigilant and do intensive research on any investment offer our friends give us, we might end up saving that friend from losing more money if we happen to find that what he is offering is a scam investment scheme.

This is one of the reasons why some people spread false news about Bitcoin because when they were introduced to Bitcoin they were only told the good aspects of Bitcoin, and how they can make a profit from Bitcoin investment without letting them know that Bitcoin is not a get-rich quick scheme. In the end, the result they get from investing in Bitcoin will not be satisfactory for them. Do your own research before investing in Bitcoin to have a clear picture of how Bitcoin works

I think this just summarizes all you are trying to pass across, op. Generally, one who's "educated" about an idea will try to either teach or maybe take advantage of one who's is a novice. In your case, your friend wanted to take advantage. The wise thing to do whenever thinking of a business to invest in is to conduct your research, don't rely on hearsay alone; check how profitable it is, how much risk is involved and also how much capital is needed. In Bitcoin, it's advised to use the capital you can easily afford to part with.
 If you are not fully equipped on how to go in Bitcoin, you might end up loosing more than you bargained for because with it's volatility rate, price can fluctuate and as such because you want to meet up, or probably you may have been told it's a get rich quick scheme, you put in more funds, and when things go downhill, you blame the market.

Ohh, what a bulky paragraphed topic  , my head is roaming, Dear Op as you are a Full member I can assure you already know about most of the Post editing and compilation Also you are well aware of the market and Bitcoin, So why are don't you prefer using the Colors in the text body. Besides that these days being misguided is easy and impossible which means that if you have a little active consciousness whenever some will try to trap you, using a few clicks you can verify the authenticity of the information. If you don't then it can be going to be really easy to trap you. Don't be dependent on being educated by someone else, especially in the financial field, DO your OWN research as well because its really hard to earn.

Also, there are a couple of mistakes in your own topic, as many of them are highlighted by the members above so I don't need to be redundant for those.

I think I will make a great advocate as I encourage people to spread accurate information and educate others about Bitcoin ethically. It's frustrating to see how misinformation and a lack of financial competence are impeding Bitcoin's mainstream acceptance. Before investing in cryptocurrencies, people ought to know and understand the risks and intricacies of investing and trading money. It is critical that individuals conveying Bitcoin explain the entire picture, including possible risks and the slow nature of gaining profits. 

And you are correct when you said  that success in Bitcoin trading is not guaranteed, and it is critical to be sceptical of persons who claim to have flawless tactics.

This discussion just proves that not all what we learned from someone is not all true or correct as there could be an information that the person didn't teach us and it's shows how doing your own research is useful which will help us find or know which one is true and which one is not. It's not easy to do it but it will be helpful especially if you found a source that brings useful information and correct ones in order to determine the fake ones plus we will also know the risks about it.

Please, how exactly can someone be forced to invest in bitcoin?

If someone his introducing bitcoin to another person, the person introducing bitcoin should let the other person know able the pros and cons of bitcoin. Definitely you are right. But in anything we are doing, we should know how to make proper research. If you do not have that in mind to make research yourself, people can lead you to the wrong way.

There is one thing that some people do not  know, a friend can introduce a scam business to another friend and both of them would be scam. If the friend knows that it is a scam, he might not tell his friends to invest in the business. If you introduce bitcoin to someone and the you talked only about the pros, likely the you do not know about the cons. People should do their own research before investing.

It's very easy to find both the good and fake news about Bitcoin, it's all over the place and I mean it's for any asset in the world, you gotta make sure to follow accounts on social media or blogs which is true and have been providing fair news for any asset your invested in. You never want some authors who are in FOMO or always bullish or always bearish to get your Bitcoin News or Information, that's harmful. Also, try to think less about other's opinioons.

If you are telling someone to accept bitcoins, trying to make it sound very enticing by only highlighting the prospects and benefits/advantage is not doing the person who you are telling about bitcoins any good. The reason is because when they quickly accept bitcoin based on the one-sided information that you have given them, they will be really disappointed to the point of discontinuing their adoption of bitcoins because the event they are faced with is something that is unexpected. If they have the full information on bitcoins, they will react differently.

If someone is introducing bitcoin to you and yet after the said is done and they never included in telling you the risk involved in bitcoin, then they are either hiding something from you or they know less about bitcoin themselves, as you've mentioned, there's a need to let the newbies understand what's involve in taking risk, they also needs to let them realize that such could be avoided if they pay more attention to security measures and understand the way they should go about it.

Absolutely. The narrative about Bitcoin that influencers give to people who are desperate to make money or become financially stable is outrageous. They tell them about the upside of buying bitcoin but nothing about the underlying riskd that comes with it. Often time, they dismiss the fact that it takes time any investment in bitcoin to yield tangible result except in a bull run when it happens much quicker.

If we only talk about bitcoin only because of the potential profit which is determined by the market, then we've not done justice to it. People can come for the money but stay for the groundbreaking technology.

Bitcoin is gradually spreading like wildfire worldwide. However, there are still numerous obstacles hindering its widespread adoption. While many tend to blame the government, it's disheartening to realize that the lack of sound financial advice or expertise is also a significant issue. People often disseminate incorrect information without understanding the inherent risks and complexities of finance. Crypto illiteracy is a major hurdle affecting Bitcoin's global use. Some individuals has already digested the wrong ideas about Bitcoin and this can affect its adoption rate. In my experiences, when I've asked people about Bitcoin, they've often provided vague descriptions, indicating that despite hearing about Bitcoin, many still don't fully comprehend what it truly is.

Bitcoin holds the potential to aid countries with stagnant economic growth and has opened up new vistas of financial freedom for them. I remember sometime ago, before I came to understand Bitcoin in full. I encountered someone who claimed they could teach me to make $100 daily just by investing in Bitcoin. While this offer seemed tempting, I, with my limited Bitcoin experience, decided to conduct my own research. I discovered that Bitcoin isn't a get-rich-quick scheme and anyone promising such short term gain is likely trying to exploit you for their own gain. Profits in Bitcoin are earned gradually and require patience. Those introducing people to Bitcoin should provide the full picture rather than just highlighting the positives, which can tarnish Bitcoin's reputation when things go wrong. this isn't right.

Every successful Bitcoin investors will tell you that risks are an integral part of the journey to success. If you're considering trading, you should acknowledge that success might not be guaranteed. Don't be deceived by individuals on social media who claim to have foolproof trading or investment strategies. Even the best traders experience losses at times, but with each loss, they gain valuable lessons.

While telling others about Bitcoin, you have to remember that not everyone will adopt to using Bitcoin, so don't force someone into investing. Those who've tried it have shared positive experiences. It's unfortunate that some people had the chance to invest in Bitcoin but were discouraged due to their limited knowledge. While seeking financial advice from others isn't a bad idea, it's crucial to be discerning about the information you accept and act upon. Having incorrect information can negatively impact your Bitcoin experience. Always remember FINANCE AND RISK works together. "Do Your Own Research (DYOR) and don't be deceived.