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

I fully support. Without an investment plan, any investment, no matter how reliable it is, will not work properly and will not bring the investor any profit, but only losses. It is important to remember that bitcoin is not so frisky anymore and it likes patience. If an investor is in a hurry to profit from bitcoin, he or she will not learn the true value of this asset because the true value of bitcoin is revealed after years of ownership, maybe even decades.

Bitcoin will not make a poor nation rich or lead to economic growth of any country. It is a currency that will give any nation an alternative means of payment especially during international trade. It will also help nations to avoid middlemen such as SWIFT during bilateral trade. Nations just like El Salvador can also invest in Bitcoin and hodl until they make a profit. Bitcoin-friendly nations can also attract crypto investors that offer diverse services to crypto clients and this can also create employment opportunities. But until poor nations adopt measures that will improve their economy Bitcoin can do nothing.

Just buying Bitcoin won't cut it. I get your point that it's better they buy Bitcoin than some altcoins that they'll regret later but buying Bitcoin with the wrong idea won't do.
Imagine they buy Bitcoin thinking it was a get Rick quick scheme and they were expecting to make 100% of their investment in a month or two and that doesn't happen. What do you think they see Bitcoin as at that point? A scam.

They'll classify Bitcoin as every other scam out there.
Worst if Bitcoin dips during the period they bought their coin and they make heavy losses.

So I believe people should not only buy Bitcoin but should have the right understanding of what Bitcoin is because if they don't it will just end badly for them and that goes further to tarnish Bitcoin's image however insignificant it might seem.

It seems you already know that Bitcoin and fiat money are two very different things, even though in certain countries they can both be used for payments. But Bitcoin is always different from any fiat money because Bitcoin has a supply limit which may not increase again in the future. However, when it comes to fiat money, it is always very possible to continue to increase it even though you have to follow the rules of the state which are written in the law.

It would be great if you could focus on providing that kind of understanding to all people from now on because currently there are still many people who don't understand what money is and what Bitcoin is so they still often think fiat money is better than anything else, even though Bitcoin is a cryptocurrency. can beat fiat money in all conditions.

In times of investment is very unwise advising someone to invest on Bitcoin, truly we no how potential Bitcoin is and how far they might gone in the future but not wise to advise someone to invest because in a very good opportunity also have risk involve so considering how volatile the market could be at times so instead is even more better explaining the risk involve on investment and the risk management so that he could be fully aware to enable him decide weather to invest or not. Just like you I can only advise a family relatives to invest knowing fully well that I will be there to mentor him and as such if should incase the market move against him he will be confident it will retrace back based on the trust he has for me unlike an outsider who will feel misguided when the market is moving against him.

Their practice is key and at the end, practice makes them safe or unsafe with compromise, hack or scam or just self lose their bitcoins.

Knowledge is a start and they must have it through self research or through your help but at the end, they control their activities practically and you can not help them.

Five resources to teach average Joe about Bitcoin

Never should. Invite them and even you tell them, investment is risky and not financial advice from you, they will still consider you as a reason why they lose money through investment. Most of people only find reasons for their loss from outsider factors and don't look at themselves to find insider factors.

I am not ready to make Bitcoin sound like a place to turn your life around without slapping you with the disadvantages,  the reason for this is because people will always be people, they all love the good stuffs and they all want the easy stuffs, today many people still can't do long term investment, the majority don't even like taking risks, they magnet themselves to what they have presently and they don't think much about what they could become.

If anyone is misguided about Bitcoin it's because they lack doing their own research themselves, there is nothing about Bitcoin that's hidden from the internet, so why are they lazy to do research by themselves?

I will never try to push anyone to invest in Bitcoin, it's not worth it most times, and the little numbers of people that know Bitcoin through me are already within the family and friends, so I have studied them enough to know that they like taking risks.

Do you think that governments, authorities, news outlets, and every other organization have started doing all these negative things now? No, these things have always been a part of Bitcoin's journey, they called it names, they said it's a criminal currency and it is used for criminal activities, news outlets tried to convince people that Bitcoin is something dangerous, influential people used to call Bitcoin a bubble and they said that it will burst anytime now but what happened?

Today, the whole world is running behind Bitcoin, those who used to criticize Bitcoin are now buying and storing Bitcoins secretly, and some are doing it openly. However, the point is, that all these negative things cannot stop the adoption of Bitcoin, the more they try to neglect it, the more people will become interested.

Are there still factors culminating the advancement of bitcoin to where it should have gotten by now, if we look at how we started and were we are today, there's more of the development that has advanced bitcoin adoption in every aspects we are into just within this fourteen years of history, means that bitcoin had a fast and quick widespread than expected from the global rate in adoption and we are still moving ahead till everyone understands the needs and the use of bitcoin in their financial lives, learning it is the only challenge some may have with using bitcoin but not government or their regulations is stopping bitcoin global adoption.

In some point people who understand the bitcoin would like to push person who doesn't know the bitcoin and have a good financial status, seems like they are reflecting those to other people why not them to manage to make an investment here, instead, you are the one who makes to invest they pushing other people that fulfill their lackness with this, as always we cannot push other people with their decisions if they are not interested they are not. If you are that person I will not risk at all if I didn't know what are these things. Ideal to make a research before committing investment, there's a lot of friendship breaks because of this kind of behavior.

I think one of the biggest problems with people "buying bitcoin to get rich quick" is that there is a lack of understanding of what money at even a basic level. Most people don't understand that money is just a representation of our labor and that the current money (fiat) can be printed infinitely at no cost which transfers the value of your labor to whoever prints the money.

Bitcoin takes that power away from money printers yet people don't understand this very basic characteristic of both fiat money and bitcoin.

I have decided to focus on educating people about the core characteristics of money in a way that they can understand. Once people understand money itself, they can begin to understand why fiat is a scam, and that Bitcoin is the best money in all of history.

We should not also try to impress others because we are introducing them to bitcoin and you wouldn't want to say the advantage together with it risk involved along, teaching bitcoin should be what the receiving end must gave interest in and we must not force them to learn if they are not willing, because after you have done your own part, it is also left for them to go about making additional research on things they have learnt from you in other to understand better than you've explained or informed them while teaching them about bitcoin.

Well, although it's related, I think that some people are misguided about Bitcoin because of the inappropriate knowledge they have gotten about crypto. Some people got to know about some shitcoins before knowing about Bitcoin, and after they finally got to know it, they would think it was just the same thing all together. There was one thread that was created a long time ago where the OP talked about how some of his friends thought that the coin that was being advertised on TV was the same thing as Bitcoin. Some people have just been hearing about Bitcoin, but they don't have a real idea or know about it, and even if you showed them a picture of any other coin and ask them what it was, they would not know. Well, I can say that if we come across people who have the wrong education about Bitcoin, then we should let them understand the right thing.

Introducing bitcoin is people is something good but it depends on how you explain bitcoin to the person that he will see it and decide if he is ready to invest or not. Don't use sweet mouth when explaining bitcoin,rather you should be truthful and tell the person the risk side of it,so that if he jumps into investing and things got bad beyond his expectations, he wouldn't hold you responsible for his loss.

If you only tell the person the good side of bitcoin, you will see it that the person will be eager to invest because you have put it to him that it is a get rich quick investment, this will make the person look for any means necessary to have funds to invest and when the market faces the downturn of bitcoin, that person will loose hope and confidence in you and he wouldn't be prepared for the risk,which might turn out to be a problem for him to control. This is why in whatever business you want to invest in,it is wise that you do your own research and learn the pros and cons of it.

All they care and think about BTC as money maker opportunity. I know that because first I also had the same vision but over time by getting more knowledge I understood the science behind it and now I can say for sure without knowledge we are just dumb people bluffing here and there and knew nothing. While at least a little knowledge about Crypto and how things works, like how finance works in reality then those who think of it as money maker machine will think of it as a revolutionary, decentralized coin. Which is here to make you financially independent but of course the pathway is not very simple.

And if it were that easy, wouldn't everyone be financially independent? Therefore even after knowledge BTC is not for everyone especially for those who lack patience factor and want instant money. I am saying that because a long time ago there was a topic in which OP said shifting the interest of gamblers towards BTC would be a great idea but many including me said. If they are gamblers then it does not matter the type of currency they will end everything in the addiction of gambling.

True that. Due to misinformation or not providing the positives and negatives doesn't allow people to make informed decisions and when it backfires, it leaves a bitter taste in their mouth and they may never get to try Bitcoin ever again. That's why I consider it to be outright wrong and sus if anyone shills an investment opportunity without talking about the associated risks involved.

I won't blame the people much because it is said that people perish because of lack of wisdom and understanding plus information is power. Not having the full picture makes the decision incomplete.

Just to add to what you said which I find very interesting, this is not about newbies only I think every bitcoin investor should be real when discussing with people about bitcoin investment, let them know that bitcoin investment is the same thing with other investment which people are all into you risk to earn but sometimes the plans to turn out as expected. Apart from security measures which is one of the ways to be sure of securing your investments, I think people should be properly guided to seek for knowledge before investing because it helps to reduce the risk involved. Risk in business is a normal thing but people shouldn't see bitcoin as an investment that is profit guaranteed.

You have already given good advice for beginners to always research before investing in Bitcoin. But to introduce Bitcoin to someone, you have to be careful because not everyone is willing to accept new things and can be patient if they want to invest in Bitcoin.

We can only provide information about how to invest in Bitcoin, how to buy and store Bitcoin in a wallet, avoid panic when market prices fluctuate, and more. And if they are interested, we can tell them in more detail and teach them what we have learned. You also need to explain to them to do research before deciding, and they can ask you for your opinion.

If we can open their minds about an investment opportunity in Bitcoin to them, they will see what the benefits of Bitcoin are for them. But we shouldn't force them to invest with us because investing in Bitcoin is everyone's choice.

I can't agree more with you. I had a hell lot of discussions on this topic where many members acknowledged to the fact that knowledge is power. It still doesn't matter if others agree with this or not because we all know that knowledge is power and without proper knowledge one could have to face consequences. I prefer to ask questions openly, if I have some confusion about anything I ask it and try to get more knowledge and you said you know BTC full. Believe me, No one knows BTC fully like in all domains, let's say in the domain of security, wallets, blockchain, nodes, SPV wallets, etc., etc. My words are based on my personal experience.

If you want to learn more then you have to agree on the fact that you do not know all about BTC because if you say so then you tend not to learn new things. I am not trying to demotivate you instead trying to emphasize the fact that knowledge is necessary and I'm highlighting that being open to gaining knowledge is essential. I hope you understand it and by you I do not really mean you instead the reader of this post they could be anyone.

To obtain accurate information about bitcoin & avoid being misled it is essential to rely on reputable sources. Trusted news outlets like Bloomberg, CoinDesk & CoinTelegraph provide reliable coverage on cryptocurrency. Official websites of well established exchanges such as Coinbase or Binance offer educational resources & insights.
Most importantly though read the Bitcoin Whitepaper - https://bitcoin.org/en/bitcoin-paper

It is advisable to follow renowned experts in the field like Andreas Antonopoulos who regularly share reliable information & analysis. Engaging with communities on platforms like Reddit's r/Bitcoin or here at bitcointalk.org can also help access valuable insights & discussions about Bitcoin.

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.