Topic: Knowledge vs hodlings - page 10. (Read 2594 times)

In support of your comment I will say, it's not advisable for a person to jump into holding without having enough knowledge to guide him/her during the holding journey. Because, such person is prone to letting their emotions decide for them and that is as good as giving a one year old child a knife to play with as a toy, the outcome will always be disastrous. When emotion is made the decision making element of an investor instead of knowledge, the losses are incomparable.

Before one starts holding, it is crucial to have a broad understanding on the asset he or she intends to hold, if buying isn't the problem then I suggest knowledge before holding.

There surely are variations of this same topic in other forum threads, and I hate to be repeating myself too much... even though we realize that our state of knowledge about bitcoin and/or any topic is not any kind of static phenomena.. so at any time that we end up learning about what bitcoin is, there could be some preliminary questions regarding how much we might need to study in order to have at least of a basic idea that we understand it sufficiently enough to start to invest.. so our level of knowledge of bitcoin and our level of knowledge about ourselves in terms of finances and psychology will also affect both whether to start to invest and our initial position size....

Therefore starting to invest will help to inform us about some of the mechanics of getting bitcoin and holding it and then likely motivate us to learn more as we go and perhaps if we continue to invest.

For example, if we come to bitcoin and we already have a $100k investment portfolio that includes a variety of quasi-liquid assets, and we have an income that is around $50k per year, and if we decide to start out investing into bitcoin by buying $10 per week, and then how much do we need to know about bitcoin when our position size is so small relative to the size of our overall investment portfolio, versus if we were going to take a larger position size right from the start.

I am not going to necessarily presume that someone is starting with already having a $100k investment portfolio just like I am not going to presume that someone has not saved and/or invested previously, even though there have been quite a few studies to show that there are many normal folks all around the world who hardly have any investments, and they do not even have enough of a savings to last a month or two if their cashflow were to be cut off.

So frequently people are needing to work on themselves rather than trying to figure out what the fuck is bitcoin, and what is bitcoin is ONLY one of several prongs about what is preferable to be known when even figuring out whether or not to invest, and if so how large of a position size to take and/or what kind of a BTC accumulation strategy should be employed.

I am surely more inclined towards suggesting that people do not delay in getting started in terms of investing into bitcoin, but they still need to be spending some times making sure that they do not overdo their investment and they are working on learning as they go, which may or may not be a big ask.. but any investment does require at least some basic understandings regarding personal finance management in order to understand that investment monies is coming from discretionary income rather than being money that might be needed for living and/or emergency expenses, so if anyone new to bitcoin has not gone through some preliminary steps in terms of managing their own finances, then yeah they will likely end up getting themselves into trouble at some point not being able to hold through hight BTC price volatility periods.. which could be either selling at a loss or even selling too much too soon during periods that the BTC price is volatile to the upside.

So surely I am all for learning along the way and getting started as soon as possible and also that each person is responsible for his/her own decisions in regards to whether to get into bitcoin, how much to allocate and how to go forward with both building a position in order to get to target BTC accumulation levels and being able to maintain their stash once they reach their BTC accumulation target.... which is likely to also be a bit of a moving target.


These are not necessarily bad points @BigBos.  The longer that someone studies bitcoin, the more likely that they are going to feel that it is necessary to take some kind of a position in which they are starting to hold bitcoin rather than just rant about how they don't like it.

Normal people do need to take famous people with a bit of a grain of salt in terms of our own ways of figuring out our own finances, yet surely there are many of us who have been in the bitcoin space for a while and we have seen both a lot of people and also a lot of the talking points about bitcoin become more and more positive, even though some of the famous financial and/or rich people will some times talk out of both sides of their mouth.. or they will say that they are doing one thing but then it seems that they are doing something else.. or that some people are a bit low profile in their decisions to accumulate BTC, but sometimes they will still give some hints that they are accumulating BTC.

Another thing is that even very rich people do not necessarily know what the fuck they are doing, and that is likely part of the reason that so many of them got reckt through the FTX-related fiascos.  So they think that they are holding BTC and they end up holding exposure to BTC and perhaps those are signs of both greediness but also some laziness in terms of understanding how bitcoin works and/or attempting to take some personal responsibility in terms of trying to figure out how to hold it directly rather than relying on third parties who might not be very honest in how they hold the coins or even if they gamble with the coins or do not even have the coins they claim to have.

It would become hard if you have a lot and you are under 50.

If you have 10 coins right now are 45 years old and live in the USA it is good money but not life changing.

Now if coins moon to 225k and you have 10 of them you have 2.25 million.

At my age of 66 fuck it cash out the 2.25 million would make my remaining years easy. Combine that and the pensions my wife and I have we will travel and relax.

But at 45 with 2 kids looking to go to college in a few years the 2.25 million cash out move is far less tempting.  Maybe just cash enough to pay for the colleges say 250,000

Of course, if we have no knowledge about Bitcoin, how we can trust on it? How we know its potential future?
People are brave to have Bitcoin and hold it for a long time, it must be caused by their knowledge of Bitcoin. People probably won't be interested in Bitcoin if they don't have knowledge about Bitcoin. Moreover, when people decide to invest in Bitcoin, ideally they must do a research first. Investment is a serious matter, people won't invest in Bitcoin if they don't understand the potential of Bitcoin future. So, I think knowledge isn't only a power, but it is also a reason why people do something! 

We don't know the real reason why the Bitcoin founder hides his identity. But it shouldn't be a political reason only, it is related to his safety and other serious reasons. However, we don't need to feel worried about this. Bitcoin has proven to people that it always grows continuously even if no clear information about the founder. Bitcoin is owned by all people around the world now, it is not owned by Satoshi only! 

Yeah, even you study for so long and more lifetimes, there's just too much information that we can't learn all of them.
But thanks to all of those that constantly sharing their knowledge so we're able to absorb them and we're applying it to our holdings and how we're surviving this market.

Sort of luck and attached to Bitcoin because it's known to be the best in the market and that's why without such, possible to earn but it's still needed for someone to know about it.

Learning is a constant process, you should not think that a certain level of knowledge will help you always get the expected result, because this is a market and there will always be players who will work more and harder than you.

We all know the principles by which markets work, so we should be interested in making learning a constant process for us. Now so much knowledge is available to humanity that it seems to me that even a few lifetimes will not be enough to study even a small part of it.

Many who hold Bitcoin would do well to at least study thoroughly what they are investing in. I agree that even without this they will be able to make a profit on their investment, but it will definitely not be unnecessary.

Bitcoin is the Most Valuable Coin. Keeping It Will Always Make It Valuable. But I Have Concerns Bitcoin's Founders Always Hid Theirself But I Think It's Something Political

The saying you expressed really impressed me, because I can also feel that real power is knowledge, nothing else. This can be directly seen and felt by anyone through life when someone does not have a certain level of knowledge with people who have a certain level of knowledge, and the example you give also seems more specific because it is very clear that someone will not want to hold Bitcoin if he does not have sufficient knowledge about Bitcoin. So it can be concluded that knowledge is a power that is very important for everyone in any case.

Knowledge means information, understanding the skil that you get experience or education from also awareness of something. Therefore without you knowing about something youcan do nothing and become a losser. Without knowledge you will not be able to understand Bitcoin and how to hold it ,there is a saying  that "Knowledge is Power "and so without knowledge you are a failure and you  cannot understand how cryptocurency or Bitcoin works neither how the ttends goes,Reading and understanding the biases and importance of Bitcoin makes you wealthy and exposed to the crypto world on how to secure and inves in your future.

We're all saying about maximizing the profit with knowledge that we have in Bitcoin. Yes, that's really possible but it's not a guarantee that just because we're knowledgeable, we'll earn the maximum profit.
Even with knowledge, we can still lose our money because of how events turning into from the expectations that we've got. But with experience and confidence that we have here, we know that we'll make it.

I will not blame those who consider Bitcoin a scam or those who consider themselves hard-line fanatics who do not like Bitcoin. That's something that happens all the time, not just in Bitcoin. Because basically their existence is necessary to make it a good opportunity for yourself whether you hold it or not. That way, the more they talk about Bitcoin, the deeper they dig and do research to keep telling the world that Bitcoin is a scam and such. Not a few of them finally realize, for example there are people who were initially anti-Bitcoin fanatics, then at one point they announced that they liked the Bitcoin system? Did you know that Larry Fink served as CEO of Blackrock? now where does the understanding end?

The busier they are in attacking Bitcoin, the busier they are doing research on Bitcoin.

Both things come hand in hand. If you know something, it is always a plus. When it comes to Bitcoin, it is better to have some understanding of how Bitcoin works and how prices fluctuate so that the investor does not lose money. Bitcoin Holding refers to an actual BTC in your custody. A person should have a combination of both to be a successful investor in the crypto market.

With knowledge, you can maximize your chances of earning a handsome amount of profit, and without knowledge, you can easily lose your money in the crypto market.

Therefore, in order to further expand the popularity of bitcoin around the world, you need to understand that there are two problems that need to be solved:
1) there are people who have money, but no knowledge. They don't know about exchanges, transactions, and so on. They think that if cryptocurrencies cannot be held in hand, it means that they are not essential, and any fraudster on the Internet can steal it.
2) It's a people who have knowledge but no initial deposit but they sooner or later find money and become traders or investors.

Therefore, the first point is not solved by itself, unlike the second.

Investing in bitcoins and holding it for a long term has the potential to earn profits. Investing in bitcoins does not require experience. But when you think of investing in altcoins or other coins, you need knowledge. Because if you make a wrong decision, you will make a mistake.  Your chances of losing money will be high. So we have to think before investing. It has to be accepted that by investing in bitcoins you can't get much profit but by investing in altcoins there is a possibility of getting more profit and the risk is a little more to lose money.

Holding generates profit and knowledge suggests various strategies. It is possible to generate profit by buying and holding Bitcoin without knowledge but holding other altcoins and other coins without knowledge will result in reverse loss instead of profit. Because Bitcoin is a coin where long-term holding is guaranteed to make a profit because Bitcoin has a record of constant price increases. although its price is dumped, the recovery is also fast. So knowledge is definitely important if it is intended to invest somewhere other than Bitcoin.

That's actually useless to be honest, being brainy without executing anything would not help you to achieve anything in your life cause you are gatekeeping those potential in your brain. Always remember that hardworking people outgrow person with knowledge because hardworking people have the consistency and they based on the experience. If you have Bitcoin and does not know what to do with it it's like having a treasure you're not aware of.

Of course hardworking people could also be scammed due to they lack the knowledge that's you really need both in life or else you'll get stuck into your current situation. You can always based your understanding by just experience, you'll need to find the facts especially in Bitcoin or crypto industry where you involved money, meaning there's a hacker and scammer.

Knowledge without action? Thats just a brain full of facts, not getting us anywhere, right? But get this. Without any knowledge, thats a crash waiting to happen to our money. Imagine having a stash of Bitcoin and zero know-how - you are the best victim for anyone, including hackers, exchanges, etc. And it is a sad end

Now, mixing both, thats where the magic happens. Knowing the ropes and taking the plunge – thats how we roll, and thats how we grow. With each transaction, we learn, we adapt, and we get better, aiming for that sweet spot where knowledge meets action in a perfect blend.

That's right, because knowledge without practice does not make sense. It's just a lot of theory and facts that you know, but what profit is there from them if they are not applied in any way. You can know at least all the facts of cryptocurrencies and have excellent technical analysis, but what is the point of this without investment?

But the presence of holdings but the lack of knowledge is even worse. Such an investment will lead to the fact that the trader will invest without understanding, and falling into the scam.
After that, such a bad investment will depreciate, and as a result, the deposit will be zero.

In general, one without the other cannot have profit and meaning in general.

Those two words, if you connect them to the Bitcoin industry, are, for me, equally important. Because if you have something like that, eventually there will be a change in your life if you have Bitcoin holdings and knowledge. Obviously, you wouldn't go out of your way to own Bitcoin if you didn't find anything wrong with it.

What if you have no knowledge but buy Bitcoin and hold it long-term? Of course, at this point, while you are waiting for the right time to sell here, it is possible to learn what Bitcoin actually has and why it has become attractive to the majority of wealthy investors around the world. So, for me, if you don't have knowledge about holdings, you can make a mistake in what you choose to hold. But if you go with knowledge, for sure you won't make a mistake that you want to hold for the future.

Many at times, we find people seeking bitcoin investments for the sole purpose of gains. That’s why we have them crypto traders that wants to trade based on signals and even those investors that don’t want to do any form of investigation on projects and prefer you to point them to a coin that would make 100x. We still have other categories that believes in the idea of bitcoin packages that offers regular rewards within a periodic base.

Most of these individuals often ends up on scam sites.

This makes having some knowledge of how the cryptocurrency space works and bitcoin network to be of great importance. It’s the one way you can guarantee safety, identify and utilize opportunities that presents itself within the space.
It’s not enough to just invest, you have to study the project.