Topic: Lessons of my experience and knowledge about Bitcoin - page 5. (Read 832 times)

    There's nothing wrong with sticking to Bitcoin, and it's good to hold a lot of it if you buy a lot. But it's not right to say don't trade altcoins. Why are altcoins bad? You should clarify why you don't trade altcoins. What is that? Are you saying this in general, or are you referring to altcoins that are not good to trade?

   Be clear first: when you trade altcoins, you won't make money? Are bitcoins and altcoins non-volatile? How can you learn to trade if you avoid trading in altcoins? Do you think you can only learn to trade with Bitcoin? Having a lot of experience does not mean that our knowledge is extensive and that what we say is correct. That is not the case.

Only if you are an absolute beginner otherwise altcoins were created to be traded, that's their whole purpose

I'm not a big fan of such conferences on a topic such as Bitcoin, they're mostly a waste of time. You can always find the information online and in a much shorter time without needing to attend a hours long conference.

I'm not a fan of this either. Social media such as Twitter is not really a place you want to waste your time on for knowledge or information. Specially if you are following a hashtag instead of legitimate individuals. In a hashtag you will see a ton of nonsense including FUD.

One of the first tips to give someone coming into bitcoin. Do not think or wait for maybe a perfect time like when the bitcoin will fall to a low price before you will invest. The more days you wait might be the days you will ever get to meet the price at such low. All the talks about it coming down again are just speculations or predictions that it’s certainty aren’t guaranteed. Invest immediately you have the money and have acquired some essential knowledge, using the DCA method saves one from being hit hard even when the price falls and maximizes profits when it raises.


A very important advice to anyone but most especially someone in a country in which the government are not too friendly to bitcoin and cryptocurrency at large. If you can’t miss this gatherings then be sure to have security etiquettes and never go to places like this and boast about your holdings. Keep them private


Since the switch of twitter to Elon the place has become a den of scammers, but why wouldn’t it be when even the tag or blue tick meant for trusted or long term accounts can now easily be bought and be paid for. Now a days I will advice everyone to just treat every information from there with caution and avoid clicking on links, most especially those related to cryptocurrency

Might be the best option for most people(because some conferences end up being on YouTube), but not if you want to connect with people if it's the case that you want to start a bitcoin/crypto-related business.

True, I hate it when influencers are telling us to spread the BTC to everyone. If someone is not interested you only will scare them most likely.
The only thing is that I never met with other Bitcoiners, I don't know any in my city and we don't have community meetings or something.

It start before you start to invest in cryptocurrency, having many research, understanding about the coin etc will make you able to not invest in shitcoins. Myself is one of the example who never buy any other coins except Bitcoin.

But for people who start wrong by buy shitcoin or invest in ponzi scheme project, we can't complaint it as long as they can learn and not making a same mistake.

I agree to this point... eventually the goal should be gulp more bitcoin when you can... and keeping the luck aside it's a fact that most of us can't trade like expert traders, it needs time and effort to understand graphs and play safe bets. Amongall those DCA is one of the best and easy options. I have been doing this and I'm pretty happy with it (thanks to JayJuanGee from WO who introduced DCA to me). I learned about it from bitcointalk even the term DCA i heard it first here on bitcointalk.



hahaha that stage is over for most of us. I remember I did this a lot back in 2017 and many people still think that bitcoin is a get rich quick scheme

You have gained knowledge about Bitcoin based on your experience and what you said is true.
But other people may get other knowledge besides what you convey and their experience will be different from what you get.
For investing, bitcoin is the best but for trading, altcoins might be an option but to start trading, one should have analytical skills to find the right coin.
By having analytical skills, we will not choose the wrong coins so we can make a profit.
And be careful if you want to attend meetings or conferences because not all of them discuss bitcoin but they only discuss projects that they want to release and have nothing to do with bitcoin.

You can attend Bitcoin meetups and conferences if you want to join the crowd but my warning for you is simple.

When you join meetups or conferences, don't bring a device (like PC, laptop, smartphone) that you store biggest part of your capital. You can bring a device on which you store small part of your capital, consider it is your hot wallet that you afford to lose it.

Attending those events that are surely crowded, will bring risk to lose your devices and even you afford to lose your devices, you have to protect your capital that should be kept at home, not bringing around the street and events.

Yes, Bitcoin is King.... but people should also experiment with other Alt coins to gain experience of the whole Crypto currency scene. How can you appreciate Bitcoin, if you cannot compare it with something else?

There are a huge world out there, with countless opportunities to learn more about this wonderful technology and we should use it to the best of our abilities to improve the world around us. 

If you are only interested in bitcoin and don't want to invest in altcoins or new projects, don't go anywhere else but bitcointalk. Here you will find everything about bitcoin that you cannot find anywhere else. Twitter is my favorite place to read daily news but since Elon introduced a policy of writing content to make money, things started to become a mess. People repeat the same content over and over again just to attract more followers for a higher chance of receiving rewards from Elon. There's no denying that it was a pretty good business strategy for Elon to attract more users to Twitter, but it also made things worse in terms of content.

Bitcoin investors put their money in the currency not because they can predict the price but because they trust the coin. When I see these so-called bitcoin analysts come up with different speculations as if they know the future, I just overlook them and abide by my plans.

People might also want to scam or even steal from you because they will assume you are rich. In my country, people immediately think you are wealthy if you tell them you own bitcoin. 

You can also introduce newcomers to bitcointalk instead of any other platform. At least we are sure that he would get a vast level of knowledge. Also, encourage newcomers to do their own research.

upon all of those
but the highlighted part is what I do believe is important as there are so much predictions going on here , and people mostly buys their prediction when they truly not holding Crystal ball.

this si a good example on how to keep safe our assets and most importantly for those who  has Big amount of crypto inside their wallets.

and even with smaller amount still this is important .

Yeah... If you are not good at trading then avoid the risk of losing rather than profit, altcoin trading requires special skills.
Moreover, trading shitcoin it will trigger high adrenaline.

Everyone can predict the price, but don't be too confident that basically nothing is right, this will also hinder your accumulation.

Doing DCA, as much as possible I will organize it without time.

I never attend meetings with the conference community, not too confident, it is better to be private.

Bitcoin twitter has been awful lately. Sorry to admit it but it got worse after Elon took over. Basically you got nothing but bots posting phishing websites and scams.

Doesn’t matter what you are trying to search for? Whether bitcoin, Ethereum, alts, defi you will get nothing but massive replies about scams which try and steal your bitcoins.

Well, at least this post seems to be based on your real experience, and not on a probably made-up story, as we so often see in this section, and the advice you give is pretty good in my opinion. Attending conferences and guiding newcomers I wouldn't do it for privacy, and I don't have a twitter account, but the rest are fine. The only thing is that they will be useful for those who are just starting out, not for those of us who have been on the forum for years.


Or just don't go.

Though this is not necessarily bad, just be cautious that it could be a security and privacy nightmare. Probably wear a facemask and a cap, and don't go straight home after the conference/meetup, instead, go to a very public place like a mall first. Just to be sure as to prevent people from following you.

https://chainsec.io/wrench-attack

_ Stick to Bitcoin: it's the real deal. Don't gamble on other cryptos

_ Avoid trading altcoin: you are not a genius trader, you will eventually get burned.

_ Never trust price prediction: no one has a crystal ball.

_ DCA into Bitcoin, emotions aside, No need to time this market.

_ share Bitcoin cautiously, people might think you want to scam them.

_ Attend meet up and conference, the Bitcoin community is awesome.

_ Guide newcomers to the crypto industry to Bitcoin only.

_join #bitcoin Twitter: it's less lonely with fellow holders.

_ Don't Force Bitcoin on others, but be a resource to those who seek knowledge