Topic: Knowledge is still power in cryptocurrency (Read 520 times)

Cryptocurrency might not be as easy as many young people take of it. Learning and understanding the deeper part of crypto goes beyond just taking short trades or long trades or going into investments of any kind being it the dollar cost averaging or the lump sum. It also involves leaning and understanding how to develop on blockchain networks, how smart contracts work, exploring advanced topics such as decentralized fiance often known as DeFi, tokenomics among other aspects of the blockchain technology. It's an all encompassing field of study that requires not only your time but patience and perseverance to understand and practice.

Studying cryptocurrency and how the system works is one aspect, the other aspect is the experience. When it comes to the crypto space, you not only gain the experience, you also get to truly learn the in and out of how the crypto works through practical application of the knowledge learnt and from the experts. This aspect is as crucial as the first part of studying. It is in fact more effective than the learning because you get to experiment the whole thing while taking the risks and gaining the emotional stamina to try out bigger things.

It is critical to familiarize yourself because you will soon require everything that you will require in the experience, making things easier because there is no way that you will not require advice from experts, and the experience you will gain from learning is very important because you will be learning every day, and choosing exactly what you want is critical. I used to not take mentorship seriously, but now I do. When you are willing to learn from them, you will learn very well, which is quite crucial since you will make few mistakes.


This is not something new, and when it comes to choosing, I believe that everyone should go with bitcoin because it is one of the safest currencies. I recommend that everyone invest in bitcoin because there are many opportunities that bitcoin provides, and since it is the driving force, it is best to go with it. Having faith in bitcoin is what I have ever known since I know bitcoin.

one thing we have to take in to consideration is the fact that some people don't wanna have the knowledge, they just want to invest and mind their business. So we that's into crypto 100% should take it serious and upgrade on it. So we can guide those investors that only want to invest for profit only.

Have knowledge about day to day signal and advanced knowledge in crypto is a plus for all investors and holders. It will build your mindset on how to be patience and not to be panic during the bearish market. This is where you will know those who are advanced in knowledge in crypto.  Is during the bearish market.  The weaker investors will withdraw what's left for them while the knowledgeable ones will buy and hodl till bully market.  That's why one need to understand how crypto work.

To familiarize yourself in the crypto space, one should emphasize the need for research before investing and have the mindset of taking adequate advice from experienced seniors. Those investors tend to regret those who fail to choose the right crypto for a short period of time based on limited knowledge and tend to get more profits. The greed for getting more profits can deprive an investor from the tendency to get high profits such as the traps of various online-based promotions and lack of advice from the right people which leads to huge financial losses.

An investor should develop the habit of choosing the right crypto and depositing in stages to avoid regrets and buy more in every downtrend to take their capital to a decent level in the long term.

Teaching someone about crypto could change their life no doubt but at the same time could also ruin them if they don't go through the right path and they might regret ever learning or having someone that taught them the whole thing in the first place. There's difference  between teaching then about crypto and guiding them about the right part of crypto space but I believe everyone that learned crypto will  have something to say about their journey and how they learned( most learned the hard way though but it make you stronger and to avoid future likely mistakes, at the same time you can prevent those you are/will be teaching from falling into some of your past mistakes orem errors  )

This is true. Every system has a way before one can be successful in it. Cryptocurrency is a form of skill. You choose what you want to study and learn it. It takes a longer period to be able to master the skill and start being successful in it. However aside from having the skill, one needs to have capital. Just like any other skill or knowledge cryptocurrency is not designed to generate capital. But I can make even the smallest capital turn into huge results/profits.

The good thing about going for knowledge is that its always there in us. Going after profits will only last for a short time and we will consume the profits. But going for knowledge will enable us to be able to generate profits on a steady basis even after consuming it the knowledge is still there.

That's just the fact, ordinary as a person you don't to reap when you have not sowed, every success have a story, knowledge has a lot do with individual crypto activity and I so much believe that if you must grow in this space you must undergo some level of learning and experience, as a person who is still growing, I have learned from this advise of your, life is a gradual process and we must be part of that process to enable us get where we admire to be, the crypto space needs very careful minds to avoid being victim of circumstance.

You're right mate, having the knowledge is more profitable than receiving from someone that is profiting through his knowledge in crypto. The receiver should rather go for the knowledge and be happy forever.  That's why we must be grateful to anyone that introduced us to cryptocurrency be it your junior or senior, you own him everlasting loyalty because your wealth will be forever. Imagine how our children will benefit from us, they will inherit a good fortune that's more than a land properties. Crypto to me is a lifestyle. Having the knowledge of crypto is much than any degree you ever had. Applying it is a fortune.  Because you many have the knowledge and not Applying.  Like buying coin and hodling it for long. If you have the knowledge and the application ability then You're a self made man.

Yeah it’s just like the popular saying “don’t gimme the fish, Show me how to fish”. Giving one crypto might only solve the problem of now but further problems the person starts looking for help again. Teaching goes a long way, helping the person understand the world of cryptocurrency and all it’s benefits. He can now have a means of survival and sustenance.

In crypto, you need to read wide in other to be able to understand what you are doing, digging deep in the knowledge of Bitcoin is very important and paramount in other to be able to have a good post that will build up your portfolio,and make you grow .
Knowledge in cryptocurrency is practical which easily expose you to various ideas and ways of doing things,that is why the knowledge can be transferred from one individual to another without much difficulty for those that are ready to learn,and because of the practical aspect of cryptocurrency made it grows rapidly because it is open and not restricted to a particular group of persons or Age , knowledge they say is power, therefore without knowledge of cryptocurrency we can do nothing, also in the aspect of its investment,and other areas of our lives, because it is the knowledge of some group of people we are enjoying like Satoshi and others.

Something seems different ohh you have changed yah avatar couldn't even  recognise that it  was you guess am already used to that previous character, well back to the topic the reason why even posted this image is because of the writeup, not because of the person that wrote it , because in this space we need proper knowledge to grow in it .

Yeah shitcoins not something one should recommend for anyone , instead recommend Bitcoin so that they can be in a safer side because shitcoins most time will just get you rekt .

I just want to respond to what the image you posted is saying as the discussion here is now about Bitcoin and the industry (crypto). I'll have to turn that statement by CZ around. Make we no dey take everything wey this men them dey talk serious because they're mostly just trying to promote their projects by downgrading Bitcoin. Isn't it the same man that said CEX is better than DEX?. Better you give a man Bitcoin than altcoins. With altcoins you have no assurance so how then are you setting them for a life time by giving them something that can make them go completely broke in matters of hours. With Bitcoin, by just hodling, you done set for life be that but it must be a better quantity.

You can not do anything without studying if you really want to do crypto some people they think say the thing they easy, but not at all you can only be successful when you have the knowledge, studying is what discourage a lot of people from investing. And this one is even better than studying in the university because at the end of the day when you take things seriously you make money unlike universities that you finish from and the next thing will be you looking for jobs.

A lot of people's eyes are opened already and I don't think people still see bitcoin as a ponzi in this period when people that understands the market are making money, and this may be that they see other people doing very well when it comes to investing in bitcoin they always feel that they can make quick money and they don't know that it takes a little time for you to master the craft of become a successful trader or holder in bitcoin your outcome will be determined by you that is how bitcoin works.

This analogy is not only directed to Bitcoin or crypto if I may say, but it is general, as it could be applied to all endeavors of life, which Bitcoin ecosystem is not exempted. Hence, bitcointalk as a forum has given us the privilege to learn slot about Bitcoin, and not just only about Bitcoin, but the crypto dynamics in general, of which I can boldly say I am a good example of why it's good to "learn how to fish, rather than beg for fish" which happens to be a popular Nigerian slang used daily to relate this kind of situations. So, as an experience person who has been on this forum and our local board, the best advice I can give to our upcoming Newbies is for them to strive for knowledge about all they need to know about Bitcoin and the forum, and stop putting in much energy into focusing on airdrops, as gone are those days when it was actually profitable.

Note: Learn Bitcoin, Buy Bitcoin and Hodl Bitcoin.

Learning about crypto currency is something that you would definitely not regret, this might take some months or years to understand. Instead of chasing signals or trying to look for quick ways to make money from the crypto space, go for knowledge this would pay off. Crypto provides you an opportunity of a lifetime only when you understand the dynamics of the market. Rushing into the market without proper understanding of it would only make you lose a lot of money, study crypto like a course and dedicate some time to it before you think of investing.

It very good wey be say anything pesin wnt do for this life you should try get basic knowledge about it, as I dey see am now, cryptocurrency dey very large, pesin can jump into crypto today say e Don sabih everything today that one nah false,  you most pay attention, make ur own research and also ask questions from people who dey game for long that's wat I think can make pesin perfect, me too I don't know I still dey ask,
   But waiting I dey talk is that mst of newbies wey dey registered account new,  they mostly discourage wn dey ask questions and em see say pesin wey dey hero, legendary level criticise em dey easily discourage, em go dey feel like dem no sabih, and one of the basic aspect of learning is to ask questions, waiting you don't know, waiting I dey suggest now is that when a newbies make mistake our elders here can correct em in encouraging way so that make dem no feel discourage.

Of course it is a proven statement and there is strength in the statement. In different areas of the world if you don’t have knowledge then you will achieve nothing and will be easy for those with knowledge to step on you. Same it is in the crypto world, without knowledge you would be an easy target and become victim to a lot of scams deceptive strategies. Knowledge doesn’t only protect you from these deceptive tactics but also exposes you to the numerous benefits crypto can offer. To be successful one must be willing to seek knowledge it is these knowledge that will open doors of opportunities and possibilities for you.

I love the write-ups in this image honestly, it enlightened people on how to properly empower others, it's not just about giving someone fish to eat today, the person would still be hungry tomorrow and still come begging for fish again. The best way is to teach the person how to catch the fish by himself and you've given him something special and what would sustain him for a long time.

Notably, it's not only the willingness to teach the next person Crypto that's enough, but the willingness of the newbie to learn. It's very difficult to empower someone who's lazy minded and not totally open to learning and that's why I never recommend doing such for free, demanding some fees no matter how little keeps the learner in check because he's losing something if not taking it seriously.  Unless you're convinced the person is really worth the favor, I'm not an advocate of free coaching due to my experience with people attitude regarding free packages.

Finally crypto involvement needs some sort of capital involvement. So the newbies should have some steady income source in order to engage profitably in crypto activities.

There is always a reason for the saying knowledge is power and that's because  if you lack knowledge about something you would be disadvantage to the benefits of that thing and that's same case with crypto knowledge,  if you have the wrong perspective about crypto then instead of the knowledge creating benefits for you it would rather do the opposite and wreck you.  The crypto space isn't some place that one would come into with the wrong thoughts and just like the OP said many just come through stories of success which some of all are just merely make believe.

Yes people faces fit dey different and na so their passion fit also dey different. But e no mean say 2+2 no go still be 4 for two of them regardless of their differences. No matter how different people dey, e get some success formulas wey go still yield the same results to them when them apply am. If Banker and Brick Layer both buy Bitcoin with 300k today and both decide to HODL am for the next 20 years, although them be two different people with different career goals and different line of hustle, the result of their investments go still dey the same. So e no really matter the difference in personality, as long as you go fit just educate them about Bitcoin and them pick interest and start, the result go just dey the same.

And concerning your illustration of dashing person motor without realizing whether or not e fit maintain am. Yes wetin you talk na true, but according to the image, if you dash person motor, you no dey help am for a lifetime, you don only help am that day, so even if him sell am, e go still use the money to better him life for that day, but when you teach the person how to carry get resources to take buy motor and how him go also carry maintain the motor, and the person successfully learn am, nothing go make the person sell the motor when e eventually buy am because before e even buy am, e go don dey sure of resources to carry maintain am. So I dey of the opinion say wetin CZ talk for the image dey absolutely correct.