Topic: Knowledge is still power in cryptocurrency - page 4. (Read 1115 times)

Plenty people dey invest for here to blow quick-quick with Bitcoin, but this na risky waka especially for those wey like trading anyhow. For new investors, e go better make dem start by learning how Bitcoin dey work, then use DCA method to dey deposit small small for the beginning. E good make dem try sabi wetin dey happen for early stage, and still run Bitcoin deposit.

Dis advice fit teach everybody say e good to get sense to move forward. E good make everybody make effort to find knowledge, especially about Bitcoin, so dem go fit believe say long-term deposit go fit give more profit from Bitcoin.

Instead of giving person fish it is better you teach them how to catch fish, E better make you teach person how to make it in life than be given them money say make you take, as this life dey now everybody dey find way to survive and instead of be given person something it is better you teach the person how to get him own so that the person no go depend on you, but even as this one wey be say teach person crypto E go be person wey Sabi read and write.

And sometimes when you dey teach person crypto make sure you teach person wey go dey appreciate and even be loyal to you no matter what happened because there are some people dey wey be say after them make am they fit even talk for public say no be you be the reason why he become a successful person, and also make the person be a person that is patient because some people no get patient when they are learn, all they want is to make it in time.

Their are people who still refer to Cryptocurrency in general as Bitcoin and I always try to correct and teach them that Bitcoin falls under Cryptocurrency and Cryptocurrency is the general name for all digital currencies and I think you're right cause most of the people that I've corrected are airdrop miners on telegram, majority of them have zero knowledge about what Cryptocurrency is all about, they're just focused of gathering different airdrops which most of them refer to as Bitcoin then make huge money when they're being allocated the airdrops. However their expectations have been cut short based on what occurred with Catizen and Hampster airdrop projects I don't really blame them though cause they're ignorant of informations about Cryptocurrency but are just airdrops opportunists cause if they have knowledge lots of them who benefitted well from good airdrop projects like Notcoin and Goats would've converted and invested their allocation into good Cryptocurrencies like Bitcoin but on a second thought I wonder how they'll continue to invest periodically since majority of them saw those projects as a hunger alleviation scheme base's on the current economic situation in our country.

Many people's introduction to cryptocurrency has been through airdrops and tap to earn, but with knowledge these people will understand that cryptocurrency is big and broader than that and that to know what is the next step after benefiting from airdrops and tap to earn projects they need to learn more about cryptocurrency. They have people that have earned from all these projects as well and then instead of investing it in another more reputable coin or making sure not to keep holding these coins from these projects when they start falling, they do not know their next step. Some people have even just hurriedly sold off what they benefited when that could have become a basis of investment for them to start with in the cryptocurrency market and put them in a better position to profit more from the market in the future. Knowledge dey very important.

Absolutely there's no doubts in the perks you just shared and I appreciate the fact that it has a theme that is referring back to study and arming one self with the much needed knowledge because that's our survival tool in this space, only a very knowledgeable person will always find their way around things in this space regardless of how tough it gets.

One other thing wey I know be say too much sability fit cause paralysis, because when you too know, e go make u dey too careful or make u dey reluctant, as per you go dey always find excuse why you no wan do something because u feel say u too know and every movement u dey aware and you go com forget say dis crypto mata dey dynamic, dat mean say e dey change anytime so sometimes give room to drop d old things wey u Sabi learn new one make u for fit dey updated den grow, anyhow Sha make sure say u continue dey learn no stop and no allow wetin u Sabi make u no use opportunity because u feel say e too small or e no go work.

CZ just go rephrase our fish matter o.
Say; if you give person fish, you go feed am for a day, but if you teach am how to fish, you go feed am for life. Na watin I Dey see there o. Same knowledge and everything but, na the legit shah and fundamental rules like this Dey apply everywhere, e no Dey select field.

For our society today, knowledge is everything. Gone are the days way person Dey use brute strength to use see front. Person fit use pen take decide how your life go be and na there way people Dey use build future now. When you no sabi, you try learn make you sabi instead of to just Dey relax and allow time pass you, na that one bad pass.

Yeah . There was this post I came across on X , the post was something like , "Airdrop won't make you a millionaire just like that , but the money can only be a stepping stone to success only if you have the knowledge " . Especially we Nigerians if you take notice most time Nigerians are always topping in most project , (because of our economy tho ), like doing hamster listing i some people list of what they whre planning to do with the hamster money, some where like i will make like  $5k from it and i will spend it like this and like that. I just shake my head because done are those days Airdrop pays such amount, now the number of people farming airdrop are now more than then because of Notcoin. Airdrops is good do especially when you farming a nice and legit one , but always go after knowledge still .


Yeah that's through knowledge do help when it comes to bitcoin investment, because having good knowledge would help you make good plans towards yah investment and same time also help you to keep your funds safe .

Your points are valid. I do think that most person have gain awareness about bitcoins through the airdrop but this awareness is not enough to make them a potential investors on the long run as many of them only seek for daily bread through airdrop not because they care about investing. The economic situation in the country has forced many person to see airdrop as an escape root to escaping debt and living below standard.

For every one that was brought in through airdrop , who is still wondering about what the space is all about should seek for knowledge in a proper way because a lot of people seek incomplete knowledge by glancing through pages they should have properly read through .

Secondly , newbie should not believe that they are missing out until they rush to invest. Getting the right knowledge before investing help safeguard your asset and protect you against scam

You are very correct because basic knowledge is needed to get started with investing in Bitcoin but to do other aspect of cryptocurrency, specialized knowledge is needed. For instance, if you want to go into mining, yield farming, trading and many other aspect of cryptocurrency that can also generate income, proper knowledge of those sectors are needed because without good knowledge, losses are inevitable. Even as an investor, a time will come that one would need some good knowledge to make informed investment decision while cutting cost such as transaction fees. Therefore, knowledge is an important asset in cryptocurrency.

the question is, if you're giving someone a crypto, what's the worth of the crypto you can give at the most? and even if it's all that much, how long will it last before he spends it all and comes looking for more?

when you teach someone how crypto works and how they can also benefit from it, you've not only tutored a single person, but you've empowered an army of people who will eventually come to learn a lot of things under the person you've taught. you've also liberated yourself so that they won't keep running after you for more coin.

with the right knowledge you can grow to the extent of owning more coin than the person that taught you and as it relates to growing in the crypto space and enjoying its benefit, theirs more for anyone that goes above the mere preliminary phase of doing the little and casual things other regular guys are doing. if you're interested in gaining maximally from crypto, you will have to learn and implement all the things you've learned and even strive to stay updated and continue learning.
 

Person fit dey invest in bitcoin with the little money wey e get after him don take care of eveey responsibility wey he get. Some people no understand say, you no need too much money before you fit start to invest in bitcoin and na e make them never start their bitcoin investment journey. But with the basic knowledge of bitcoin, e go help many know say, na them dey draw themselves back from entering the moving train. One good thing about bitcoin be say, you fit dey invest small small and dey learn more about bitcoin at the same time.

I agree to CZ term, there's this Nigeria proverb that says No give me the fish,teach me how to fish,so when I saw the write up,this Nigeria proverb just came into my mind.We all know there is a different between giving a person something and teaching a person how the something works and how it can be used to create wealth.The society we are living is a digitalized society where youths are desiring to own digital asset like cryptocurrency,so it will be of great help if we teach them about crypto.
It's unfair when people say they won't teach others cryptocurrency because they ought to discover their destiny,if everyone chose to discover their destiny I believe nobody would use cryptocurrency because everyone would be busy discovering their destiny,one thing people don't know is the value an asset possess,the reason why we are using crypto today it's because of how valuable it is, otherwise nobody would have desired for it.Teach someone about crypto not on the basis of discovering destiny but on the basis of helping a soul.

I can relate with what CZ said and it will be relevant to anybody that wants to go far in the crypto space, you can help a person for a short time by giving them cryptocurrency but you can help the person for a lifetime if you teach them about cryptocurrency in general. You can liken it by saying that it's better to teach someone how to fish instead of giving them fish, they will become knowledgeable and continue to fish by themselves in the future. It is important for newbies to understand that they cannot compare altcoins like memecoins to Bitcoin, some people are still scammed into believing that these tokens are reputable like Bitcoin, they will invest their funds and lose everything when the project is dead.  Also when you choose Bitcoin you need to understand it's circles, bull run and bear run, and the best time to buy is during bear run when price is in dip, you hodl and wait for bull run when there will be ATH. Another important aspect is to have the knowledge of securing your seed phrase and password, without it you can lose your Bitcoin forever, it will remain in the Blockchain but you can not have access to it. These are the basic knowledge that a crypto holder needs to understand and avoid costly mistakes of losing their coins.

Well when I first entered crypto I was told not to be greedy and to be more patient that it's not a get rich quick scheme ad you earlier stated but in all sincerity there were time where I still made poor choices maybe due to greed or different other reasons
So to me experience is the best teacher
You may hear people say don't be greedy but may not know why till you actually make the mistake of being greedy
I only pray it won't be at a high cost

You have a point here @OP, but what I also feel is that knowledge can never take the place of money, and money can never take the place of knowledge in whatever we do, whether it be crypto or any other thing. Now, I have noticed that some of the people around me that  participates in airdrops are not really into it because they seek to understand what crypto is all about. They are just into it for the money sake, which means they literally don't see other opportunities outside the airdrops they are doing. And why is that?, It's simply because they are not knowledgeable about the crypto space and are not into this research thing. These two things alone can differentiate two individuals(maybe you @OP and someone who just taps).

But regardless, it's still okay for us as Nigerians(because I assume the thread is for us) to participate in airdrops as everyone really need money these days, but getting extra knowledge, maybe through research or from people with experience, will even open further opportunities aside airdrops. The crypto space is very broad, and airdrop happens to be a part of it. We can't discover and maybe enjoy the benefits of the other opportunities when the knowledge is not there.

Let me rephrase it if u want to help a person for a day give them money but if u really want help person teach the person how to make money . Just like this saying don give  me de fish , teach me how to fish. If u give person crypto u just help de person for a day bcos de person go still come bk come dey ask for more after spending de one u gave to him earlier but if u teach de person Abt Bitcoin u don better de person live forever as de person go dey independent. Bitcoin is de last hope for de poor in escaping poverty so if u teach a poor man about Bitcoin u are eradicating poverty but if u come dash poor man crypto u are increasing poverty.so we should always try make we teach people how dem go take make wealth on there own so that dem fit gain financial freedom.

I just think CZ has said it all, in this crypto space, knowledge is very much key, that's why I always believe that you will only get what you deserve, if you have a whole lot of money in your account and you choose to dive into the crypto space without attaining knowledge required, you will surely get what you deserve, either by falling prey to scammers or by investing in shit coin that will make you lose a whole lot of money, so knowledge is very much paramount in the crypto space.

Then as for the role played by the forum in acquiring knowledge about the crypto space, I think you were spot on when you said that those that has grew their account has attained a higher knowledge of how the crypto industry works, yes it's true because the forum has actually enlightened me the more on cryptocurrency and most importantly on security.

if you never de ready to learn and gather as much knowledge as there is to be gotten for this space, then you no go fit benefit well for this space. The thing be say, at the start e go just de like say you never really know much and say wetin you need know de too plenty for you to know over a short period of time. If you reason that way, you fit easily give up on the forum and just focuse on minor things when no go really help you become knowledgeable about crypto and the industry.

The best thing you need do na to take am a step at a time. Even if you never know anything about crypto, just de learn am one by one. Before you even know, you go don master a lot of things when fit de deficult right from the start. Another mistake most newbies de make when I feel say I follow make na say them de rush de go teach others when even them never sabi the thing well. The forum de open for you to learn first and when you don gain the needed knowledge, you self fit also teach another person. But no be say you never learn you wan rush go de teach other people as boss when you be.

I no de against aidrop oh, but when I reason say if I use that time I'm investing into airdrop in gaining my knowledge on crypto and learning more about the forum and even building my account on the forum, e make sense pass the airdrop thing and e de obvious say e no really worth am to de invest too much time into the airdrop thing like that. Knowledge will always beat quick money.

It's more reason why I keep trying to advice people here on the forum that being a member of BitcoinTalk and having grown your account is a huge advantage compared to anyone else out there trying to learn crypto. You learn at the same time manage to use your knowledge to earn. Without knowledge you won't grow that's how I know that accounts here on the forum whom have ranked up are people with knowledge of the crypto space. I like the quote from cz as it actually portrays a lot. Learn before your earn. Some people just jump into the crypto space because of how they overheard someone making good amount of money. They didn't bother asking what was his first approach to this before he had made it.

I think that this statement on this picture may not be totally true. And doesn't resonate with the body of content , But wetting I fit tell you be say our elders say "colanut dey last long for the mouth of person wey value am".the best thing wey I no say you fit do for person na discover person destiny and help him carrear to succeed. Everybody no fit do bitcoin. As People faces dey different so their desire and passion dey different. Crypto currency fit be the best but to some E fit still not be the best to dem because the side of hustle the person dey into. My own be say before you help person ask am Wettin him/her dey good in. Then you fit help am for that aspect to do well in life . Giving person crypto according to this your image be like to dash person motor and you no even wan consider if him go fit maintain am. You fit give person crypto as the best thing but if steady means of income no dey, him go still sell am so I disprove that statement. The best thing to do for person na to discover his best part to succeed, after which you fit introduce am to cryto as an investment to adhere against the future.

Knowledge is profitable to direct, but becomes effective when put to work at the right direction.