Topic: Knowledge vs hodlings - page 6. (Read 2594 times)

there are hundreds if not thousands of articles available on the internet, but how many people are spending their time to read through those articles? We have everything in the palm of our hand, but some people are so ignorant that they never try to learn. It's not about availability, but the willingness to learn. If you don't have a curious mind, you can never learn anything new. People nowadays are always after quick money or easily influenced by other people. That's why they always believe what they hear or see, but they never take the time to learn it on their own. I think we should blame the social media for this.

Believe it or not, people are always after the negative things. No matter how much good you present a positive thing, people will always choose the negative things about it and dump the idea of positivity. If you don't take your time to learn it on your own, then you will never learn anything.

One more thing, I want to disagree with you here is that you don't need a good financial status in order to invest in Bitcoin. It is a long-term process, so you can put as little as 10 to $15 and you can start your journey. And as it is a long-term investment plan you can keep on putting small value and in the long run you can make it big.

Your words are quite ambiguous in my opinion where when the initial discussion was about investment it would not make sense to relate it to trading because you have to be able to distinguish that investment is not trading and investment is better than trading so you can't say everything in one discussion because there will be no common ground at any time.
It will not make sense if the goal is investment but you look at traders as a reference. you must know your goal from the beginning and when the intention is investment then indeed some discussions about investment strategies are very much here rather than you reflect and make traders as a reference because even if you work hard for the investment you do but when only traders you look at then you will fail or maybe even if you succeed in the end it will not be optimal.

Are you sure about this? There are some technical guys that once had good stash of Bitcoin yet sold everything and cannot boast of 1BTC today. Whereas there are people holding large chunk of Bitcoin yet do not understand one single line of code behin Bitcoin. Having money and knowing how to grow and preserve it are two different things.

The world knowledge is truly relative in this case. While some people aspire to know everything about Bitcoin, there are those who are too busy with other things that they require just little knowledge of Bitcoin and they are in.  Technical knowledge is not really for everyone even though it is good.

I don't understand why you said knowledge in cryptocurrency isn't beneficial to someone, when it is in fact your main object to avoid getting scammed or put your money in a wrong altcoin.
Well, I have to agree that some of the top altcoin in the market has a better feature than bitcoin, simply because that's the purpose of these altcoin, to fix bitcoin's imperfections. But we all know why bitcoin stays way at the top the rest. Some altcoin may surpass bitcoin in the future, but not in this current timeline.

I agree that the coins you mentioned are good but are they compatible with Bitcoin? Where Bitcoin's supply is limited, there is no limited supply in any of the ones you mentioned, which is an important factor for me when it comes to accepting Bitcoin. Bitcoin far surpasses those coins in terms of acceptance and popularity. In case of mentioned coins can increase their supply if desired. As a result, there is uncertainty about how reliable those coins can become in the long run. While investing in Bitcoin over a long period of time, there is a possibility, it is not guaranteed but we can surpass its previous highs. Here I don't think money is important but dependability is important for me. We can expect 10x in the long-term but can i keep confidence in the altcoins in long-term?

Yes, it is true that Bitcoin is decentralized and for Bitcoin to be decentralized, that's what makes Bitcoin private for everyone, so that no motherfucker can control it, not even the fucking government. Bitcoin is for everyone, and it is just for people to take advantage of Bitcoin and gain something from it.

The key to wealth is in our hands and if we don't work to get rich sooner or later, that means we are scared of taking risk, so risk is what makes us wealthy. Even in business and white collar jobs, they all have risk, both students who are going to school are going there to acquire more knowledge that they can use to make progress when they are done with schooling.

Someone can not become rich if he is lazy to work and being lazy is also the same as being scared to risk.
However, learning is a dual process. Those who don't have Bitcoin knowledge should learn from those who have the knowledge already, but they should not use the whole day to learn Bitcoin, as they are learning Bitcoin they should also invest while they learn.


Bitcoin trading is just like another way of gambling and I don't believe that a beginner trader can profit from Bitcoin trading. It takes more knowledge to start Bitcoin trading and a new beginner trader will have a lot of knowledge of selling and when to buy, but Bitcoin investment is not like that of Bitcoin trading, so I do recommend Bitcoin investment for any beginner.

Do you invest to make loss? If you take BTC as an investment asset and you're not buying it to spend it on a commodity or to pay for a service, then you are investing to make profit; and there's nothing wrong it it. The problem may be when you are greedy and invest more than you can afford to lose. But the aim of investment is to make profit.
It is hard to invest at the 'right time', because you cannot predict the 'right time', that's why there are strategies like dca for investors to use. And by the way, the only knowledge you need as a BTC investor is in how to properly store the keys and seed phrase to your coins, and the best wallets for you to use too, unlike trading that requires special skills.

Some traders can make money, but this must be assessed from the point of view that they previously had to spend a lot of time to gain knowledge, and perhaps all this time they were losing money. Statistics say that only a few percent of traders become successful, and for the rest it is simply a waste of money, time and perhaps nothing more than gambling.

We need to think carefully before engaging in trading, because we can simply hold Bitcoin and make a profit. This is not the only investment that can make a profit, but if compared with traditional directions, their payback can be from 5 years, at least that’s how it works for me. During the same time, Bitcoin is capable of bringing in several times more profit, so its advantage is obvious.

An ideal investor should have the basic objective of risk taking ability, will power to invest and proper knowledge of how to invest. A person who invests for profit is certainly more likely to lose his portfolio due to greed.
So if you want to invest, you must get proper knowledge about investment and if you invest for a long time, or if you invest at the right time, you can definitely be profitable. So we have to get rid of excess temptations and enter into proper investments.
These are the reasons for which an ideal investor would be considered, and have the highest risk tolerance. Because risk plays the biggest role in investing in Bitcoin.

I totally disagree with you on this and I will advise you change your mindset regarding knowledge because it is actually very important in any venture. There is a popular saying that "Ignorance is a disease" and as you know, ignorance is the absence of knowledge. Where will you start from if you have no knowledge of what you are getting yourself involved in? How can you even protect your assets without knowledge? In all you do, please don't downplay the importance of at least basical knowledge.


Bitcoin popularity is well deserved. Bitcoin is the reason we are here, it is the first and will always remain the best. It is not controlled by men on suit who have spent some money on marketing shit and looking for who to steal from. Bitcoin is just starting and will even get more popular.


There is no basis of comparison.  I have not looked at Monero before and I do not plan to do that anytime soon.

Seems you are so soaked in shitcoins. The earlier to covert a good portion of your bag to Bitcoin, the better for you. Nothing beats Bitcoin for now.

Simply exquisite mate, your explanation and break down of this is quite interesting but that's the truth about being an bitcoin investor and I can take myself for an example on this because till date I can bet that I don't still know the whole technical aspects of bitcoin but that doesn't mean it prevented me from investing or it even stopped me from trying to make an investment in bitcoin. I literally was amuse by the curiosity that bitcoin brought to me and used that energy to actually follow up to learn the basics which I know is what I will be needing plus a strong idea, idea and principle to follow up with me having bitcoin because you as an investor without a plan is totally nonsense because you might end up scattering everything about your actual targets but that's even of course you have one.

note:: technical knowledge is still very important but like you said isn't really a major at first if want to practically invest in bitcoin

Personally, we can understand well and have more knowledge about bitcoin during have invest assets there, we can run as well as with investing in bitcoin and another way learn step by step about bitcoin investment. There are not required have to understand or get knowledge first before investing in bitcoin, actually make us easy for understanding all about bitcoin when have investing assets. Looking on price up and down with bitcoin what have necessary with important thing about knowledge, its looks simple as possibility sell when bitcoin on higher price and reinvesting later when bitcoin have in lower price.
Don't need to learn chart or any bitcoin movement progress day by day but not get action yet for investing in bitcoin.

Satoshi created bitcoin with decentralized nature and even he couldn't control it, which means he wanted to create it for everyone, who loves freedom and respects their privacy. Just like wealth, no one can stop us from becoming rich except ourselves. If we are lazy, do not make efforts, and refuse to accept challenges and risks, how can we become rich? Clearly, we are making ourselves become barriers for ourselves. Those who always say that this is not for them, that is not suitable for them, are just excuses for their laziness.

If we don't know, let's learn. If you can't learn it yourself, ask someone else to teach you. If others don't teach you, find someone else. As I said, if we really want it, we will always find a way to achieve it, it's all just an excuse for our laziness.

In theory, ETH or XMR both show that they have many superior features than bitcoin, but in reality everything will be completely different from theory. There is no reason for anyone to choose bitcoin if it proves to be inferior to the other two coins or any other altcoin that exists in the market. Maybe a few people will be confused but there's no way the whole world can be confused about it.

Regarding holding and knowledge, I just want to know if you don't have knowledge, how can you hold bitcoin? If you know nothing about bitcoin: how it works, its fluctuations, and wallets to store it...if you don't know these things, how can you confidently hold bitcoin? They say knowledge is power, meaning when you have knowledge about it, you will understand it clearly and have faith in it. The same thing happens with bitcoin, why many people can hold it for many years to gain thousands of percent profits, but many people cannot hold it even when buying at low prices? Everything is decided by faith, and to have faith, you need to understand it clearly.

You make some good points that there might be some other features that are touted to be better than bitcoin, but sometimes the extent to which those features might be touted as better is not so obvious, and many times in technology, if you want to displace an incumbent (which would be bitcoin in this case), then you need to be clearly and unambiguously 10x better than the incumbent, and I doubt you would argue that Monero, Ethereum or any other shitcoin is actually 10x better than bitcoin... so it has to be that level of clarity (in the ballpark of 10x) in terms of how much it is better... otherwise the incumbent is going to continue to build and gravitate value and to grown market share greater than all of the rest, in terms of the seven network effects outlined by Trace Mayer.

And just a little side note in regards to that piece of crap, ethereum that you mentioned, there really is no clarity about how many coins were premined.. so a pretty big gap in the supply, and POS is really dumb in compared with Bitcoin's POW innovation that really brings it a lot of strength in terms of sound money that really cannot be fucked with.


It sounds as if you do not know about bitcoin.

Bitcoin is not a coin just like other coins merely because it has "coin" in its name.

Shitcoiners likely to make such dumb assertions that bitcoin is just the same as other coins, and then that way the shitcoiners can pump their shit and mislead you into thinking that you need to diversify your portfolio into shitcoins... which surely is an ill-informed approach, especially known more by those who actually come to learn bitcoin better, whether they end up going through a shitcoin phase first or not...

Going through a shitcoin phase is not a prerequisite in order to learn about bitcoin, even though a lot of folks do got through some kind of shitcoin phase before they figure out that bitcoin is different.. and that bitcoin is the one that should be learned first in order to lessen the likelihood of getting sucked into bullshit and distracting pump and dump nonsense that is part and parcel of the shitcoin scene.


Bitcoin is more than just market sentiment.  You might want to study a bit into what bitcoin is before you try to summarize bitcoin as being market sentiment, even though there surely is some market sentiment, but you are not going to be a very good investor into bitcoin if you are using market sentiment to guide the way that you invest into bitcoin.  If you follow market sentiment, you are likely going to end up getting reckt and not having hardly any (if any) grounding in terms of actual bitcoin knowledge.


Through your own words, you have already shown that you don't really seem to know much if anything about bitcoin.


Sure, you can trade and fuck around with shitcoins, but it is not a good idea to be trading and fucking around with bitcoin, unless you want to get reckt.

With bitcoin you should just be figuring out ways to ongoingly accumulate it and also to make sure that you figure out ways to secure your stash.. as you might be attempting to reach target levels of accumulation.. which could take 4-10 years or more to reach depending upon from where you might be starting and if you are able to lump sum into bitcoin versus more common ways of dollar cost averaging and buying on dips.


Fuck traders.  That is a specialty field.  Not very many traders actually make money, and it is not very smart to just jump into trading if you think that you want to make money, unless you learn that kind of a specialty, and you surely do not need to learn how to trade in order to figure out how to accumulate bitcoin and to invest into bitcoin... unless you are just trying to lose money, entertain yourself and/or gamble, which might be all fun and games until you might spend several years of your life fucking around with that kind of fun and thinking that you are going to get rich when in fact you end up making no progress or getting anywhere and when you should have had been taking a more prudent and practical approach, especially when it comes to bitcoin .. which is likely one of the best (if not the best) investment assets that have ever come available.. and hopefully you are not so dumb as to waste a good opportunity by getting overly greedy and failing/refusing to take a more practical approach with such a great asymmetric bet to the upside (namely bitcoin).

It's the knowledge that you have about Bitcoin that'll make you to invest into it because if you didn't have any knowledge you won't know what Bitcoin is. This thread isn't about knowing about the crypto world but about Bitcoin and anyway you invest in Bitcoin, you can make profits when you keep your Bitcoin very safe. The forum teach us to not keep our Bitcoin on exchanges or make use of non custodial wallets because they can be hacked and the Bitcoin gets stolen.

Any individual that's always on the forum will pick interest to buy Bitcoin and not just having the knowledge of Bitcoin. When you don't Invest, you're making the knowledge to go to waste. Having knowledge about Bitcoin before investing will make you have lots of ideas of how to protect your Bitcoin, which is good.

 It’s is true knowledge is power and golden, it gives you standard and confident in what you’re doing. You cannot have the knowledge of Bitcoin or the cryptocurrency space at a single sitting, even the pros in the market they still learn everyday from the market and even study more to be solid in trading. One thing people need to know is that Bitcoin is not a get rich quick scheme. It involves paying close and learning about the market. To become a successful trader, you need to be more informed and enlightened further more do more research and become master in any of the analysis techniques available. All this information will make you know what crypto to invest and when to invest. They are always hidden information when a coin is about to reach an all time high or even low. Once you don’t pay close attention to this information you either miss out from the opportunity the particular coin bring or you see your money go down the slide.
  This is why having the knowledge first is really important, cause you need to have the basic idea of what crypto you investing in. This is mistake newbies do cause they feel Bitcoin is a platform where you just put money and you leave it to rise, but this is not the case. With the knowledge you have about a particular coin you can know the coin to hodl even when it’s in it lowest low.

Yes, knowledge is power, but that doesn't mean someone should know everything before they can invest in Bitcoin. Knowledge is a gradual process because someone can't know everything. If someone is waiting for time to know almost everything about Bitcoin and cryptocurrency, they may miss some opportunities, but the best idea for newbies is to have the basic knowledge about Bitcoin and cryptocurrency in general, like knowing the risks involved in bitcoin, knowing where to purchase bitcoin, and also knowing proper wallets to keep the bitcoin so it can have proper security for their investment. With that, newbies can start their Bitcoin investment journey. Sofar is not trading that newbies want to get involved in themselves, I think some basic knowledge is okay to start up a Bitcoin journey.
 

Personally I can say that knowledge in cryptocurrencies isn't very beneficial because ask yourself, why is bitcoin popular? And then compare possiblities of bitcoin to Monero. Everyone will tell you that bitcoin is decentralized, anonymous, etc... But then there is a monero. Logically, Monero should be the number one cryptocurrency and not bitcoin because monero is decentralized where every user is anonymous by default. Then there is an ethereum that offers a lot of features unlikely to Bitcoin but still bitcoin is number one currency. I can't actually understand it. I don't say that bitcoin is bad, no, it's great but I used to think that Monero and Ethereum had potential to surpass bitcoin. That's why I think that bitcoin hodling is more important than bitcoin knowledge.

How could we earn bitcoin by teaching others? Whether that will be without investment? Bitcoin is not knowledge itself. Bitcoin is a coin just like other coins, the more its hype is due to the way it is behaving. If we don't know about bitcoin, we can't trade in the manner that should be needed for it, also we have to know about more traders' experience. Trader's experience comes from other top traders, we should know about them in different discussions, and engage in those.