Topic: How do you learn enough about crypto to make smart decisions? (Read 220 times)

Smart decisions? No one was born with it, you have to make mistakes and learn from them that's the oy way you will become smarter, it will take time but you will eventually get better if you don't quit, my advice is keep learning and be willing to learn more

Experience. It's bitter and it teaches you the most.

I really can't blame you especially if you don't have that much technology background. Unfortunately, you either learn the ropes(probably by taking various courses), or you do something else instead. You don't need to specifically be in the cryptocurrency space to be successful with investing.

Knowledge of how cryptocurrencies work does not mean that you will become a succseful crypto investors. Look at Dogecoin, it had no updates for 3 years, it's a very basic coin with no distinct features, all it has is a meme in its logo, yet it outperformed tons of coins that boast cutting edge features. Crypto market isn't rational, it's full of manipulation. The only thing you can be sure of is that Bitcoin will rule, because it has the most competent developers by far.

I went and read the bitcoin whitepaper. Was kinda hard to understand some of it.

^ Technically, there are too many various ways to learn in blockchain and any related to cryptos. It could be on youtube, in the crypto community, social media and etc. that has information regarding what you need. Since you are talking about investment and probably that is in BTC, you must learn technical and fundamental analysis, but if you prefer to hold your investment for a long period of time, just invest and store it in the right BTC wallet. A basic strategy will probably apply to buying low and sell high. Buying and storing your crypto asset must be the first thing you will know.

It is easy to make decision and understand something when you are really interested on it, and crypto is a good example for that.

Some people are investing on bitcoin because it is profitable, they aren't even trying to seek information about the true uses or benefits of bitcoin.

Don't be like them, feed your thoughts, keep on learning and learn from other people's mistake and try to adapt when you experience it.

That's how investment works, you need to improve every single day through life lessons.

How about you search for whatever you want to learn. Your question is a bit vague and you didn't mention in what kind of smart decision you mentioned about. Trading, investing, mining and many more options you can choose. Since there's no specific what you wanted to do then you should do what the post above highlighted.

Do you actually understand what you're reading though? You can read a thousand whitepapers but if you don't understand much of it then there's not much point. And if you actually understand them well enough (and with enough research), then you should be able to make your own decisions if a certain project does have a shot of being big sometime in the future or not.

Also, learning about investing in general helps a lot too.

It is very important to gain sufficient experience before entering the field of investment, as cryptocurrencies are diverse and each currency has its own characteristics, and investing in unstable or fraudulent currencies may lead to a large loss.

You never stop learning. As a growing space new thing are happening all the time. You are on the right track, keep doing research on the space and on the coin/tokens you are interested in.

Saying "how do I learn crypto" is a bit like saying "how do I learn nuclear physics."   You could spend a career learning about particle physics, general relativity, advanced chemistry, but if all you wanted to do was work in a nuclear power plant, then you don't really need all that stuff. 

If you want to be a developer, then start with the bitcoin source.  That and most alt-coins are open source.  Compile it and start hacking.  Years ago I forked bitocoin core and made my own blockchain, just to see how a genesis block was created.  It was fun.

If you want to be a miner, then you're looking at more market research.  What's the ROI?  What are the best payouts at various mining pools?  Coinwarz has a good calculator, and there are dozens of others.  In general, mining is like buying a lottery ticket.  The chances of wining with one ticket is tiny, but buy 1 billion of them and you have a better chance.  Also, the chance of _someone_ winning approaches 100%.  Other Proof-Of-Work schemes are different, but that's the gist.

Then there's the complex networks like Ethereum and Stellar. On those, you can create tokens ON the network itself, as well as smart contracts, and even more stunningly complex systems by essentially "renting" processing power from other people's computers. 

Also realize that when non-technical people say "blockchain," they don't really know what they mean.  It's just a word without a meaning these days.  Learn what it _really_ means in the bitcoin context and you'll understand.

So what are you interested in?

How about subscribing to the crypto channels on youtube?
I have subscribed to them which most of them are uploading videos everyday. Channels like Raoul Pal Real Vision, Cathie Wood's Simplified Finance, and Andrei Jihk, its fun watching them because you will be updated regularly. You'll discover more channels when you listen to them while doing something else at home. You can use the information you get base on what they are saying and decide better.

Check the highlighted words. This is the best start mate, to get involve in crypto and understand the root of blockchain by reading the bitcoin Whitepaper.

More crypto you means altcoins right? It's also good to expand your knowledge on that however be cautious cause altcoins have also some scammy side when you know them well in the long run.

Anyway just hang in here and you'll eventually discover what I am talking about.

You can have a little background with the tech itself but if you're pursuing for investments, you have to choose the crypto, the right one for you.

Ask yourself, what do you plan to be? a short term guy as you invest, mid term or long term. Most that you will see on the forum, we've decided to be long term.

I think experiences would teach you how to be smart in decisions or at least be good in every time you're about to sell or buy. There's not that much complicated strategy doing it. We apply the buy low and sell high strat and then you hold it for a long time until it makes a profit.

like the title says, where do I go about to do this the best way? I was thinking maybe learning the blockchain in simple then learning bitcoin by reading the whitepaper and more crypto's. What do you think I should do? I want to eventually learn and make good investments in this space.

Thanks in advance for any help!