Topic: Imagine that you're new to crypto now - page 6. (Read 7457 times)

When I was new in crypto I focus on studying it and looking for some site tuat could teach me how to earn using crypto.
It is always better to know what you would do rather than jumping in recklessly.
There are so many ways like trying some trading simulator if you wanted to trade and some books that could guide you.

When people ask me about my opinion of bitcoin since they are starting to see more about it in the press (and Trump) I tell them I am not in a very bullish position that I was in 2 years ago.
Having seen my portfolio rise to rather large numbers to watching it dwindle to less then I had invested, this does not make me very confident in telling others to get on board of this roller coaster ride.

No need to imagine. Although I have learned and learned some experiences in this market for almost 2 years, I was surprised by the developments and efforts from the market and bitcoin. Sometimes you think you are ready to face emotions but it still brings a surprise. .

Besides imagining I have experienced it, being new in the crypto universe it is quite difficult to survive. In such scenarios I must say "slow and steady wins the race" if you are in hurry then the crypto world is not for you coz in hurry either you will win or lose but never learn and that's for sure!

Of course, I'd research as much as I can, before taking any actions. Maybe I'd check some forums and reddit - you can find some gems there. Also, I'd look for a safe exchanger, especially after bitmarket's fail.

I often have funny discussions with family members about Bitcoin. Last night I spoke to my brother about - in his words "Bitcoin crashing".
So I showed him the 3 month time frame chart and pointed out that the price is UP 83%.
He got a confused look on his face.
I also told him that now would be a great time to invest as the price will almost certainly go to new all time highs in the next few months and it probably won't drop any lower than 7000 approx. He looked worried.
Well they say you can lead a horse to water.....

It is important for beginners to learn what bitcoin is and other crypto currencies, I also see that they are too hasty to invest their money and see the price falling, panic selling and buying is still a lot done by beginners, I don't imagine it but maybe they need to be this forum gets more information where their money will be invested

Good luck with that. Google videos and medium about Bitcoin and you get Bitcoin parodies, Bitcoin price speculation and all the nonsense about Bitcoin. I'd stick to the wiki, read a few of the old posts on this forum, and maybe one of those books by one of the Bitcoin greats. So much noisy people making noise on youtube I wouldn't know as a newbie who to listen to.

Well TBH that's a common error for all the start-ups. The hype is triggering the emotion the tendency is they gamble there money, that's why some or most of the new players who exercise the go with the flow scheme exits the market as early as they could to avoid further losses and some literally lost it all.

For Op:

1. I'd probably study and understand this industry first. Simple as that, I wouldn't be risking a hard/smart earned savings of mine without knowing what type of industry am I investing to. Little understanding of a something could cost me a lot, I rather be cautious as we talk about money here.

First I will read here bitcointalk and watch in youtube.click the link to know what crypto is. If you ask if I invest my answer is no at first because I dont know yet about crypto.then since I am learning at that time I will just ask first my friend how to invest and how will you earn from this.I will ask him to teach me actual how will you do crypto.since my friend introduce to me crypto I will learned it first widely before I invest.my plan will be still research and learning to know more about bitcoin.

Probably if I'm a newbie in cryptocurrency first thing to do is research and learn about it before putting my money on it because people nowadays just fall for the hype and getting rekt. Patience is key in cryptocurrency and those who have enough experienced and knowledge will surely reap their rewards in the future.

Just like what I did before when I was still a newbie in crypto, I will take time to understand how things work here and will conduct a research before making a decision to enter in any opportunity open for newbies.

Since I became aware of the existence of crypto through my friend and he is the one who explain the basic things that I need to know when I was just a beginner then I might need his help again to enlighten and guide me because he is an experienced trader.

I would rather avoid getting to know cryptocurrency by reading a book. That would be best only to those who really want to know the most fundamental and nitty-gritty details of cryptocurrency. Masters and PhD students doing crypto or blockchain in their thesis or dissertation must do that. And for me, a layman interested about only the general idea of crypto will only consult the internet, which is already full of much shorter and easier to understand guides for Bitcoin. That would be the first thing that I do, doing some research.

when I was new to crypto, I used to buy just any decent token from forkdelta/etherdelta, and it used to give me profit lol

Didn't really care about 'when to buy'

you need the right people which know to explain very easy everything ...and from there the noob know what to search and read , basically to show him the big picture.


peer to peer money come from peer to peer file sharing with twist.

lets dive deep to see the big picture...
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centralized tech info share - which mean computers around the world was downloading files,mp3,music,software,movies and other stuff from few main servers and not depend on each other very simple.

example computer z,a,v,b,f,t,e,s all of them connect to the main servers and download and this private computers dont depend on each other.

there is weakness in centralized tech which mean the right worm inside the main servers and you have access to all this private computers around the world which mean you need top notch security in centralized tech.

another point governments pretty fast locate this servers and shut the down.
another point do you know how much powerful this servers need to hold all this computers that download compare to FACEBOOK*" which most of the time only come to view.

easy to ddos attack main servers.
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then burn decentralized tech(peer to peer) which mean there are no main servers and our private computers are the servers which mean my computers upload movie to your computer while yours computer maybe download software from private computer on the other side of the globe very simple.

defenition: Since there's no single, central computer controlling the Internet and (in theory) every computer that's online is connected indirectly to every other one, it should be possible for any two computers to share information by communicating directly—and it is! This is called peer-to-peer (P2P) communication and it's used by some of the more popular instant messaging (IM) chat programs (as well as controversial file-sharing programs, which earned themselves a bad name when people started using them to share copyright music tracks illegally).

the nature of peer to peer(decentralized tech) is some peers hold more then others yet its still decentralized.

if some one said to you , that you can ddos attack decentralized tech its mean he is lack of knowledge in tech because your answer will be , lets see you ddos attack more then 500 million computers around the world.

- its much more secure then centralized tech relative.
- hackers feels inside maze with decentralized tech and lost sometime.
- and you dont need huge main servers to hold all this power.
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distributed tech its like decentralized just much more equel to each other .
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peer to peer(decentralized) tech is the oldest tech in the space and monster that only grow and some call it PACMAN.
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peer to peer money(decentralized)- its like peer to peer file sharing but with twist called blockchain(cryptography).

blockchain(cryptography)


at this point the ones that read have the big picture now he need to dive deep and understand what is

block - chain and how it work and types and what is tsp and nodes and other stuff.

the future is decentralized tech mixed with distributed...

what weird the nature it self like this

Each and everyone of us have had their experience as a beginner in crypto space, in my own case, it was very confusing to understand and digest it fully what blockchain was all about but thanks to close relative who already had little experience to explain it to me,
So as a beginner, things will be a bit confusing even though you read from the internet you still need easy explanation from someone who already has the knowledge for easy understanding because crypto can be very confusing.

if  you are new to crypto, the best thing to first do is to read books and make a list of questions which you can find answers to on forum like this. BTT can also give you informations on crypto and trading because it is the largest crypto community in the world. As a newbie, you have to have it at the back of your mind that you should not invest more than what you can bear to lose. Some have suggested that there is no significant difference between gambling and investing in crypto asset so do your own research before making any decision.

If I had no idea about crypto currencies, I wouldn't directly jump into investing on crypto currencies. That would be plain stupidity. I would rather learn and try to understand what crypto currencies are. I would experiment with different coins and once i get familiar with it and the technology, I would think about investing on it.

When I was very new to the bitcoin, to avoid my coin dumping overnight, I simply just invested in genesis mining, but today it's as profitable as it uses to be back then. If I were new today, I would have just still simply buy bitcoin and watch as it grows, no perfect time to enter and I sell when I hit some profit.

Sure, In fact, research is good and compulsory to master before entering the market.  But sometimes, still have to learn how to leave feelings for this market.  The best thing to do is because sometimes you will feel depressed and blame yourself.  And understand that, bitcoin and cryptocurrency are bringing the best, everything is easy.  Self-confidence, patience is also necessary, be ready and train it long enough.