Is "No one knows anything" a paradox in investing?

SatoPrincess

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Quote from: PBGAlex14 on October 08, 2021, 07:34:50 AM

Hello everyone, as someone who started investing in crypto this year with no prior experience in any sort of investing and with very little knowledge on economics and makets, I'm wondering how can somebody learn more ("do your own research") and invest better while also keeping in mind that no one actually knows anything.

Reading. Bitcoin is like any other new innovation you have to read books about Bitcoin and cryptocurrencies to learn how to take advantage of the opportunities. Some good read
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Oceat

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Quote from: PBGAlex14 on October 08, 2021, 07:34:50 AM

Hello everyone, as someone who started investing in crypto this year with no prior experience in any sort of investing and with very little knowledge on economics and makets, I'm wondering how can somebody learn more ("do your own research") and invest better while also keeping in mind that no one actually knows anything.

You mean the price prediction part where people keep speculating to know where the price would stop or when it will go up or down? Of course, most people would say that because we are all just speculating when it comes to price prediction and everyone knows that. You can however, learn various strategies and techniques on how to use your time when it comes to investment and trading as long as you read and practice at the same time the way how traders and investors would do it.

If you love reading especially in crypto investment and other stuff then you will learn almost everything in no time.

hatshepsut93

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"No one knows anything" actually means "no one can predict the future reliably", because there are countless variables with different probabilities. But people can make predictions that have higher chances of being right. And if you can make such predictions consistently, you can make profit as long as you don't go all in on every trade.

I think the real paradox is telling absolute beginners to do their own research when they have no idea where to start and how to tell bad advice from good advice. That's how they end up watching some crypto hype videos and investing in shitcoins or making some stupid high leverage trades and losing their entire life savings.

suzanne5223

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Quote from: PBGAlex14 on October 08, 2021, 07:34:50 AM

I'm wondering how can somebody learn more ("do your own research") and invest better

I think first you need to know as a crypto investor is how to safely make use of a crypto wallet, the danger in crypto investment, understand the market trend (the impact of Bitcoin halving), how to choose the perfect coin and stop lost. In the meantime, I will advise you to go through this encyclopedia thread created by Ratimov where you can find the list of some meaningful topics on this forum that will help your knowledge.

Quote from: PBGAlex14 on October 08, 2021, 07:34:50 AM

while also keeping in mind that no one actually knows anything.

I don't understand what you trying to say here.

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Quote from: PBGAlex14 on October 08, 2021, 07:34:50 AM

Hello everyone, as someone who started investing in crypto this year with no prior experience in any sort of investing and with very little knowledge on economics and makets, I'm wondering how can somebody learn more ("do your own research") and invest better while also keeping in mind that no one actually knows anything.

This depends on what do you actually want to learn. In investing you have to learn several factors, like their current marketcap valuation and the potential valuation...

learn about the company, do they have funds for development, or do they need funds for that, how are they using their funds, is their github development constant, are they solving a real problem? Look up the whole team and if everyone actually have earned their place. Don't trust a blockchain project where their CEO can't code. Look for opinions of experts, especially experts who can code.

Well that could take you far already.

hugeblack

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The end of this year until the middle of next year may be epic and change rapidly, so no matter how professional you are, you will fail to predict the price or the accompanying changes.

Therefore, listen to the analysis in the YouTube channels and try to try your luck by learning the plans and then applying them to the simulation models or demo accounts.

And when you have more than 4 months of experience, you can start.

20kevin20

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The main idea is taking everything with a grain of salt rather than believing that nobody knows anything. When you have so many people advertising their own investments for obvious reasons, you shouldn't trust every kind of "yeah, get into this coin" advice. You should rather read as much as possible about a coin and see for yourself whether my investment in coin X is actually worth it or I put my money into something worthless.

lovesmayfamilis

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I think the OP takes advice on how to avoid investment scams. And after reading here on the forum advice that you need to "conduct your own investigation" and realizing that he does not know how and why to do this, the OP assumes that many are like him.
OP, for this there are resources and this is a forum so as not to initially invest there, which you do not understand. A blind investment that promises big profits will be a game of roulette. Not knowing how to trust and check for the legality, many people lose their investment.
But there are more guarantees of success if your knowledge is based on experience than on a simple desire for profit. And based on your philosophy, then of course no one can know everything, including the next minute of his life.

Charles-Tim

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Quote from: PBGAlex14 on October 08, 2021, 07:34:50 AM

Hello everyone, as someone who started investing in crypto this year with no prior experience in any sort of investing and with very little knowledge on economics and makets, I'm wondering how can somebody learn more ("do your own research") and invest better while also keeping in mind that no one actually knows anything.

There is nothing hard to learn about investment, it is unlike trading which is riskier and require more time and knowledge. What you need to focus on is the price history of the coins you want to invest.

You can do it like this, divide your investment funds into 4, first invest, if the market decrease to certain level, invest more again, if the market decrease again, invest more until you finally invest all your fiat. Plummeting price trend is very possible and will likely happen. You should not be in rush for anything. Do not be panic about any price decrease, coins like bitcoin will reach all-time-high again and again.

But if you want to go for altcoins, be more careful, they are more volatile. Lastly, do not go for shitcoins, some will decrease and never rise again. Learning about investment should not be hard and never sell if the price is decreasing because bitcoin will reach all-time-high.

pooya87

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That is usually the response given to people who expect others to predict the price as if they were fortune tellers, like those asking "when will bitcoin reach $100k". Obviously no one knows that. This becomes even worse when you go from bitcoin market to altcoin markets since they are super manipulated and even speculation doesn't really exist since you can't really speculate when a pump and dump can occur!

So you have to "do your own research" meaning watch the market, learn how things work and most importantly gain experience.

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Quote from: PBGAlex14 on October 08, 2021, 07:34:50 AM

Hello everyone, as someone who started investing in crypto this year with no prior experience in any sort of investing and with very little knowledge on economics and makets, I'm wondering how can somebody learn more ("do your own research") and invest better while also keeping in mind that no one actually knows anything.

There are a lot of crypto experts that want to share their knowledge about crypto and also right now there are youtube videos that completely talk about crypto or crypto projects to invest. Do your own research doesn't mean we are not allowed to see other people idea for it, DYOR means we have to collect all the information by ourself, it can be done by seeing the crypto experts idea or read some articles about it.

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Quote from: PBGAlex14 on October 08, 2021, 07:34:50 AM

Hello everyone, as someone who started investing in crypto this year with no prior experience in any sort of investing and with very little knowledge on economics and makets, I'm wondering how can somebody learn more ("do your own research") and invest better while also keeping in mind that no one actually knows anything.

Thats because we have different point of view. Some are fast learner and understand things better and easily while some having difficulty to caught up with it. Not all are geniuses, and learning something new to them could be also a factor. No one can perfect gauging the trading sector, cause mostly learn it actually loses first than making some gains. Its a matter of how someone will do the work superbly to learn and adopt on it.

vv181

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First of all, don't get discouraged if you are already jumping into the markets without prior knowledge and experience. Having skin in the games is truly beneficial based on my own past experience. You might get a significant loss/profit but I'm sure you will gather a lot of experience and knowledge. Just be conscious that the amount you invested is the amount you can afford to lose.

Regarding your concern toward "No one knows anything", I think what @Lucius said sums it all up, Whereas there is no certainty in the markets. Another thing is, I think you need to raise scepticism in this market. Cryptocurrencies spaces are filled with a scammer and worthless projects, and by sticking up to the top market cap crypto, especially Bitcoin, and practising a basic security practice is essential. You don't want to experience other newcomers pitfall, where some of them are getting scammed/hacked and losing their funds

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Quote from: PBGAlex14 on October 08, 2021, 07:34:50 AM

Hello everyone, as someone who started investing in crypto this year with no prior experience in any sort of investing and with very little knowledge on economics and makets,

The thing is, garnering knowledge about an investment you want to venture into is more important than actually putting money into it, if you do not have knowledge, prior experience and the rest, then what you should do is to get them before actually investing outrightly, if you invest first and then seek knowledge, you could prolly lose your funds before you gain the sufficient knowledge you desire and seek.

Quote from: PBGAlex14 on October 08, 2021, 07:34:50 AM

I'm wondering how can somebody learn more ("do your own research") and invest better while also keeping in mind that no one actually knows anything.

There are actually people that do, I'm guessing you intend saying there are actually no 'experts' that can be correct all of the time, well yes, but you must try to learn from qualified individuals without actually just sightlessly following their instructions, after your learn from others, you must then do your own research, and one thing to note is that, as you learn from others make sure you're able to identify what looks like a scam, an easy one is "anything that looks too good to be true, is most prolly a scam", then again, always keep your private keys and seed phrase to just yourself, never give them to anyone for any reason, not even your tutor.

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Quote from: PBGAlex14 on October 08, 2021, 07:34:50 AM

I'm wondering how can somebody learn more ("do your own research") and invest better while also keeping in mind that no one actually knows anything.

Just basic information on how Bitcoin will work and its function as a cryptocurrency, how useful it is, and how your country threatens Bitcoin is. If this is against your government's jurisdiction well maybe you can find another way to have it and use it but if you abide by the law in your country much better. It could be better if you also understand the risk and the word "volatility" in crypto market price which gives the price fluctuate every now and then.

Regarding the price predictions, there's no one actually knows, and maybe this is what you mean I think. Just invest and wait for the profit were there or set a target of profit before cutting it. Because AFAIK, the longer you will hold, the more profit that you will gain. Just "understand" it and you will be fine.

Poker Player

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The OP has become philosophical. Just because we can't have certain knowledge about certain events, such as what the exact price will be on November 1, doesn't mean that we can't know anything. Probable knowledge, not certain knowledge, I venture to say is more than 99% of the knowledge we have. So, there is no paradox. Just go little by little reading and informing yourself more and more and I am sure that in a year you will know more than you do today.

Lucius

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Quote from: PBGAlex14 on October 08, 2021, 07:34:50 AM

I'm wondering how can somebody learn more ("do your own research") and invest better while also keeping in mind that no one actually knows anything.

I think this is about the fact that there is no one who can predict with 100% certainty what will happen in the crypto market, and not that no one really knows anything. There are definitely people from whom a lot can be learned, but one should know that reading books or watching videos with the highest quality content does not automatically mean success in anything.

We’ve already had discussions and analyses on the forum about how successful people actually are in crypto trading, and some research says only about 5% are successful, while others have losses or give up after a while. I don't want to discourage anyone, but crypto trading is not for everyone, especially if it is traded on a daily basis - one day you can be successful, maybe even more than that, but you can also lose it all in one day.

Fortunately, there is something that anyone can apply and for now, it has proven to be very profitable - just invest&hold.

BlackHatCoiner

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A research could be to learn how Bitcoin works. You don't want to know how many people invest into things they don't understand. Understanding how Bitcoin works in a theoretical and non-technical way would mean you've made a progress. (If you didn't know how it works)

Continuing this further, humans read books when they want to understand something that is outside their logical framework.

mk4

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Because where have you learned that "no one actually knows anything" in the first place? There are tons of really smart people with well written articles and books. And if you believe that no one actually knows anything, what makes you think that you can know any better?

PBGAlex14

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Hello everyone, as someone who started investing in crypto this year with no prior experience in any sort of investing and with very little knowledge on economics and makets, I'm wondering how can somebody learn more ("do your own research") and invest better while also keeping in mind that no one actually knows anything.

Topic: Is "No one knows anything" a paradox in investing? (Read 206 times)