I know people who have bought their first Bitcoin ever without knowing much about bitcoin, they are so into Bitcoin because their friends made a lot of money through Bitcoin, learning first is like wasting of time at the time, this was in 2021 bull market and they are able to make small gains.
I am not defending them on the rout they took but it's sure not a safe one, becauSe what if the market crashed on them? At that time they are already buying the tops. I believe knowledge should be the main focus for everyone, not only about Bitcoin investment but everything else.
Yes it's easier to download a wallet and start sending and receiving Bitcoin, but you will lack knowledge about the risks that are present while using your wallet and you engaging in some other activities online.
Some risks aren't about the wallet alone, what about the exchnages we send Bitcoin to for trading? There are many things to learn about Bitcoin and crypto first before doing anything else but these days people are too impatient.
Topic: Knowledge vs hodlings - page 11. (Read 2594 times)
Don't make it complicated, just try to understand fiat and compare it with Bitcoin, you will know the reason why you must holding Bitcoin.
lastly you can always earn Bitcoins once you have a solid knowledge of it .you can even earn Bitcoins indirectly by teaching others or even running a local exchange and lots more.
Having knowledge about Bitcoin doesn't make you able to earn, it's just a currency. What you're need to learn is a hard skill that you can work and get paid from someone e.g. design, programmer etc. No one want to use unknown local exchange that charge high fees, they prefer to use centralized exchange.Exactly. There is no point in trying to compare apples with oranges. Bitcoin holding is something important but only if you understand why it is important. Otherwise you are just simply following a fad. In this case, I would certainly call hodling a fad. And this will materialize itself in a very unpleasant way when the Bitcoin price has a violent price fluctuation, as it has had, many time, in the past, and the "hodler" panic sells due to his ignorance on the price potential of Bitcoin.
I suggest that people first learn more about Bitcoin (and why its so awesome) and learn to appreciate the value of money before leaping into the world of cryptocurrency. Otherwise they waste their money and lose it completely, once they jump on the bandwagon of other fads, like NFTs.
Knowledge is indeed the source of everything that will make us successful later, including in this investment. I agree with you that when we do not have a thorough knowledge of bitcoin it will create the potential for someone to make panic sales when something happens to bitcoin, such as experiencing a very deep decline. I will not talk about other people in this case, because I myself was in the same situation when I first learned about and entered to invest in bitcoin. But over time and with more experience, things like panic start to disappear by themselves, and in the end we have stronger confidence in our investments.
Why invest when there is no knowledge? I think the two must be together simultaneously including first knowledge and second practicing you invest by holding bitcoin - as long as you hold you will know how to overcome many problems on the way later of course with basic knowledge makes us more understanding and makes it easier for us not to fall into panic.Don't make too much of something that happens out there sometimes with weak people they always panic when the price drops, but with basic knowledge I think that person will remain calm and come to good conclusions during the journey of investing in bitcoin.
Moreover, here many strengthen each other to keep holding bitcoin under any circumstances.
Even though many people are strengthening but when we are still mentally very weak because we have just experienced a difficult period in investment (when prices crash) then panic will definitely still arise and I am sure that everyone has felt it and this is the process we have to go through because in the end whether we are able to go through the process or not because if in the end we are not able to go through it then our goals will also not be obtained.
What you explained is correct. I mean, holding Bitcoin without having at least basic knowledge about it is genuinely scary, as you might encounter alot of problems in the future, one of which is the risk of losing all your funds due to foolish. So what really matters is that before investing even $1 in Bitcoin it's important to acquire a fundamental understanding of how Bitcoin works. What's even more matter is understanding its security aspects and how to secure your assets as effectively as possible.
IMO Holding Bitcoin is no joke, particularly for those who plan to hold it for a long term.
If you do just simply hold and never ever spends those coins and you do really take care of your wallets PK then hold up for long term then that lack of knowledge of yours would really be might resulting into those huge returns but if we do speak about having no knowledge even with the most basic things like security of your wallet and those selling points then you would really be likely be messing up your holdings.IMO Holding Bitcoin is no joke, particularly for those who plan to hold it for a long term.
Nothing beats out if you do have that sufficient knowledge and something that you would really be needing to take advantage with this market.If you are that someone who is really that doing his/her
assignment then you are really that prone to errors.
This is why it would really be just that ideal that you should really know on how to deal up with things and on how to deal up
Having adequate knowledge before you desire to invest is a must. That is one way to avoid future losses especially in a market that is so much volatile and unpredictable.
Having sufficient knowledge and experience isn't only the way to avoid severe losses, it is also the way to understand how to optimize the strategy to gain good profits. Without knowledge and experience, an investor can't understand the effective strategy in investment. That's why we call people who invest with no knowledge are just gambling with Bitcoin or altcoins. So, I really agree that having knowledge and experience is a must before someone starts his investment journey.Although I can tell from the newbies these days that they jump into bitcoin investing without prior knowledge due to hunger of profits, but we all know how these investments will end up. That is why a lot of them fail and eventually blame bitcoin because they don’t know what they are doing in the first place.
Yes, there are many newbies who invest without sufficient insight about Bitcoin. They are just following the trend, probably following their friends who already invest in Bitcoin a longer time. Sure, they are probably to end up with losing money, no profits at all. That's because they may not understand when to buy and when to sell their Bitcoin. They have no knowledge about the time for entry (collect Bitcoin) and exit (take profits). Moreover, they are very possible to panic and sell directly their Bitcoin whenever there is a big FUD about Bitcoin. It is because their mentality isn't ready for holding Bitcoin.
Knowledge is indeed the source of everything that will make us successful later, including in this investment. I agree with you that when we do not have a thorough knowledge of bitcoin it will create the potential for someone to make panic sales when something happens to bitcoin, such as experiencing a very deep decline. I will not talk about other people in this case, because I myself was in the same situation when I first learned about and entered to invest in bitcoin. But over time and with more experience, things like panic start to disappear by themselves, and in the end we have stronger confidence in our investments.
Why invest when there is no knowledge? I think the two must be together simultaneously including first knowledge and second practicing you invest by holding bitcoin - as long as you hold you will know how to overcome many problems on the way later of course with basic knowledge makes us more understanding and makes it easier for us not to fall into panic.Don't make too much of something that happens out there sometimes with weak people they always panic when the price drops, but with basic knowledge I think that person will remain calm and come to good conclusions during the journey of investing in bitcoin.
Moreover, here many strengthen each other to keep holding bitcoin under any circumstances.
What you explained is correct. I mean, holding Bitcoin without having at least basic knowledge about it is genuinely scary, as you might encounter alot of problems in the future, one of which is the risk of losing all your funds due to foolish. So what really matters is that before investing even $1 in Bitcoin it's important to acquire a fundamental understanding of how Bitcoin works. What's even more matter is understanding its security aspects and how to secure your assets as effectively as possible.
IMO Holding Bitcoin is no joke, particularly for those who plan to hold it for a long term.
IMO Holding Bitcoin is no joke, particularly for those who plan to hold it for a long term.
~Snip
In essence, before starting to invest invest more in ourselves.Read lots of books or watch YouTube to increase your knowledge. It's not easy to get "big profits" from investing. Because any investment model must have risks. And we must know how to manage the risks.
Honestly, I've heard that advice and I think it makes sense. Knowledge should take precedence as the most valuable capital over their investment budget, but to invest in bitcoin they don't need to be experts. I mean, they just need to learn the basics of bitcoin and how to store it safely. Meanwhile they must know how the market works for their investment assets too.
Yes. Obtaining knowledge is really essential before we decide to invest or even trade. That will help us what and when to invest so as to gain maximum profits and avoid from consistent losses. Without knowledge and a good understanding of your investment, expect that it will not be successful like what you've planned.
They haven't mastered the science of investment and don't understand it, but they are really interested in starting to invest, they will have fear and doubt, that's why I need knowledge, for me knowledge is important before investing. Science is an investment in the brain, after that just invest in Bitcoin and hold on. because by knowing many things we can prepare ourselves for the future.In essence, before starting to invest invest more in ourselves.
Read lots of books or watch YouTube to increase your knowledge. It's not easy to get "big profits" from investing. Because any investment model must have risks. And we must know how to manage the risks.
Through discussions with other people, I think we can find out whether the theory we know is the same as reality or could be different, and that's where we learn a lot from discussions on this forum so that your insight becomes broader.
Never invest anywhere or in any asset without having a proper knowledge. At the end of the day it’s your hard earned money which is being invested. So if you don’t do proper research on the platform where you investing or in the asset in which you are investing , then definitely there is chances that you might lose the money. So yes in case of Bitcoins this also applies. So before buying any Bitcoins, it is a must to acquire knowledge about it. How Bitcoins works, how to buy, how to store them safely, where to buy, these are the basic things that you need to know at least in order to start investing in Bitcoins.
Yes, Main things that should remember are fundamental analysis and technical analysis of market. You have to be knowledgeable about fundamental and technical analysis. Knowledge is very important for investment in Bitcoin. The graph analysis is very important. You should have knowledge where graph will go? and what is meaning of this graph? When you will be experienced person in investment in Bitcoin, you can invest more money with low risk. Research properly and work hard. At the end, you will be successful.
Some of those who invest in anything do so because they hear about it from the people around them. I don't understand how they risk their own money so much. Being informed is both a good thing and helps make your investment safer. Those who invest only based on what they hear from someone without choosing such a thing are doomed to lose.
It's not a difficult thing to research. We live in the internet age and we have access to everything.
Of course, there may be things we hear from our environment and invest in, but what I mean here is that we need to do research before investing.
Don't make it complicated, just try to understand fiat and compare it with Bitcoin, you will know the reason why you must holding Bitcoin.
lastly you can always earn Bitcoins once you have a solid knowledge of it .you can even earn Bitcoins indirectly by teaching others or even running a local exchange and lots more.
Having knowledge about Bitcoin doesn't make you able to earn, it's just a currency. What you're need to learn is a hard skill that you can work and get paid from someone e.g. design, programmer etc. No one want to use unknown local exchange that charge high fees, they prefer to use centralized exchange.Like what I have previously mentioned, having the knowledge about forecasting the price of BTC is useless with inaction. There must be some sort of application where you can use this knowledge for you to maximize your BTC investments.
If you think that HODLing BTC, by using your initial investment, is better for short-term, then feel free to do so. I agree with you- at the end of the day BTC is considered as a currency and an investment at the same time.
Never invest anywhere or in any asset without having a proper knowledge. At the end of the day it’s your hard earned money which is being invested. So if you don’t do proper research on the platform where you investing or in the asset in which you are investing , then definitely there is chances that you might lose the money. So yes in case of Bitcoins this also applies. So before buying any Bitcoins, it is a must to acquire knowledge about it. How Bitcoins works, how to buy, how to store them safely, where to buy, these are the basic things that you need to know at least in order to start investing in Bitcoins.
Yes, Main things that should remember are fundamental analysis and technical analysis of market. You have to be knowledgeable about fundamental and technical analysis. Knowledge is very important for investment in Bitcoin. The graph analysis is very important. You should have knowledge where graph will go? and what is meaning of this graph? When you will be experienced person in investment in Bitcoin, you can invest more money with low risk. Research properly and work hard. At the end, you will be successful.
Knowledge is a must. Either you plan to invest or share your experience, at least you have gained some initial knowledge on it. However, the problem with most newbies these days investing in bitcoin is they don’t have the prior knowledge about bitcoin and how it will work as an investment. They only see it as a get rich quick, thus thinking that bitcoin can be easily handle and make profits, but it turn out that it’s very much hard and complicated because of its high volatility. Anyone that decide to hold bitcoin and does not understand it’s market volatility will certainly struggle on how to make it work.
Yes. Obtaining knowledge is really essential before we decide to invest or even trade. That will help us what and when to invest so as to gain maximum profits and avoid from consistent losses. Without knowledge and a good understanding of your investment, expect that it will not be successful like what you've planned. The most basic and helpful advice I have read here for newbies that just got into bitcoin and is looking for where to start from is you don’t need to know everything about bitcoin before you can start investing, just learn how to buy and how to not lose your coins” I have forgotten who wrote this text but I feel that newbies that want to just hold bitcoin don’t need to start learning the technical part of bitcoin, just start with security and keep your coins safe.
Well said. Bitcoin investment is not complicated if you chose not to complicate things. As long as you have prior knowledge and understanding to it, I think it’s still possible that you can invest and hold it for long term without future troubles. However, but with greed and impatience, you will never be successful in your long term investment. Greed will only make you invest for nothing, that is proven a lot of times. 
Having adequate knowledge before you desire to invest is a must. That is one way to avoid future losses especially in a market that is so much volatile and unpredictable. Although I can tell from the newbies these days that they jump into bitcoin investing without prior knowledge due to hunger of profits, but we all know how these investments will end up. That is why a lot of them fail and eventually blame bitcoin because they don’t know what they are doing in the first place.
Holding makes you owner of your funds and that ownership is what makes it easier to understand what bitcoin is actually. If I’m going to trade my bitcoin or may be invest it somewhere then it’s going to be just another fiat ecosystem. Having a wallet with private keys makes me owner of those bitcoin. I am not loosing any value if I consider one bitcoin equals to one bitcoin. I only lose it if I sell it or send it to someone or maybe consider it’s value in terms of fiat. Anyways that’s another story but Holding is MUST at least with my own experience.
Gaining knowledge is quite different from holding but in all we need to establish a way that will keep triggering our urge to hold for as long as we want. It is very difficult for us to hold and one of the things that normally trigger us to continue holding is when we have other investment too that are giving us money. Since the market is very volatile, then we need to make sure that we study the market enough and know the duration of how we intend to hold. The market is down now and it's obvious that the market will soon take a bold bullish move soon and if we are a good holder, we can earn more from it when the market finally go bullish. 
All of us who know a little bit about Bitcoin we try to value our holdings of Bitcoin. But the first thing we need to acquire good knowledge before holding Bitcoin. I will hold Bitcoin but if I don't have good knowledge about it then holding will be meaningless. Why should I hold and what is the benefit of my holdings? I have to know these things and ultimately, I have to gain knowledge. Moreover, how to hold Bitcoin or what is the proper time to sell it, how can i earn profit, these issues must be solved by gaining knowledge. There is no opportunity to profit from Bitcoin without gaining proper knowledge. Because without gaining knowledge a person will not be able to keep his bitcoin holdings safe.
It's not like people who hold have a choice because you actually know that if you sell now, you'll lose money because the market is experienced bearish and its instability affects the value of your assets, so it's not like people who hold have a choice. People who lack information frequently pursue money without realizing that bitcoin operates differently. Once you have invested there should be a stipulated time you will want to sell. All depends on how the convince it is for the person. Everything about bitcoin needs calculation.
This depends on your mentor, what I mean is that, if someone more experienced in the market introduced Bitcoin to you, even as a novice you will be able to make the right decision you decide to start holding from that point onward because you have someone to guide you on how to properly securely hold your BTC.
Doing the above could allow you to hold Bitcoin while you keep learning along the line while you keep holding your Bitcoin to take advantage of the market should case the price move in an uptrend direction during the time you are learning Bitcoin.
Doing the above could allow you to hold Bitcoin while you keep learning along the line while you keep holding your Bitcoin to take advantage of the market should case the price move in an uptrend direction during the time you are learning Bitcoin.
Holding makes you owner of your funds and that ownership is what makes it easier to understand what bitcoin is actually. If I’m going to trade my bitcoin or may be invest it somewhere then it’s going to be just another fiat ecosystem. Having a wallet with private keys makes me owner of those bitcoin. I am not loosing any value if I consider one bitcoin equals to one bitcoin. I only lose it if I sell it or send it to someone or maybe consider it’s value in terms of fiat. Anyways that’s another story but Holding is MUST at least with my own experience. 
Good heads up for a newbie into the crypto world. But we know people who will want to engage into the crypto community makes a background check first only people who want just want to give their money just make a decision to invest without knowing what they are doing. Even basic knowledge can be helpful into you because you can understand how the market works what, when and until is the timing to buy coin and hold it. Its depends on the person how they really use their investment could be just payment, transaction or for the long term like us trade and hold. Getting just you have is not enough seek for more this can be an essential for you to take the path you've taking for.
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