Topic: My First Experience With Bitcoin (Read 443 times)

If someone really wants to invest in bitcoin then he should not rush to the investment and observe others and ask questions. Though bitcoin investment does not require much experience but the fundamental knowledge is needed to kick start the investment. You have to know how to login to your wallet and also check the market price to acquire more bitcoin whenever the price is low. And that is why the experience of bitcoin by users is always different though some of them might have the same experience but in most time it is different.

And presently I will not advise a newcomers to invest in the market unless the person as a very good experience in bitcoin then he can invest.

The sad reality about these hyped investment stuff is that most people want to jump on them without researching it first once they're told their involvement would give them a certain XYZ returns on their investment. They cry foul if what's promised isn't achieved as if anyone truly controls the market. I've been in a WhatsApp group of private investors to a presale and someone there asked to be explained to what the investment was all about. That's after they've invested already. It was shocking for me.

by investing in bitcoin a very experience
trustworthy at the start
I learn a lot from the people closest to me with simple understanding, even though it seems a bit difficult

Even though investing, we can see the current conditions as a lesson
for me to understand Bitcoin .

Many stories were written and to make stories look to be real and convincing, endings must be either happy or nightmare.

Early bitcoin investment for my baby
Early exposure of children to wealth and investments

[Tutorial] Making your crypto inheritible. Jack left the forum and did not update image links in his topic.
Using Locktime for inheritance planning, backups or gifts

My first experience with Bitcoin  was a blend of excitement and curiosity. I remember navigating through online forums and articles to grasp its concept, feeling both intrigued and skeptical. Finally taking the plunge, I set up a wallet and made my first purchase, feeling a rush of adrenaline as I watched the transaction unfold on the blockchain.

I know bitcoin has all it takes to make you rich but at first you must learn to control your taste and hunger for money which you could make through bitcoin people don't always sense the bad side of bitcoin rather focusing their attention of what they could make and gain from bitcoin without the basic knowledge to know how the concept is, for instance if you just jump into investment without knowing the requirement of what you should do before investment you might end up regretting since you need to get yourself prepared and ready for every single lost before you go into bitcoin investment. Side note no.1: bitcoin is highly volatile!

Then back to your first story: The investor whom you find buried his seed phrase inside wall was a reason of protecting his investment, since he doesn't trust keeping his seed phrase on the room surface or any place where he thinks is not safe for him. Again somehow this story actually seems to be a cooked up story because how could he just tell his wife about his seed phrase buried on inside the wall and then gives up just like a magic even though African magic doesn't display such movie.

I think what you are trying to convey is people can bury their seed phrase on inside wall, maybe when they are of age then they can relate with their family member or their successor whom they think could manage and control their wealth responsibly after they might have joined their ancestors. Burying Seed phrase on in a wall without either laminating the document will result in total damage so anyone who is thinking of adopting this method should have this common sense to have them laminated before carrying out this experiments otherwise you stand high chance to lose your assets.

For the young man whom you said to have acquired several landed properties; Well, I can't just imagine when he carried out his investment and how much he initially invested to have made such profits to keep buying landed properties and doing charity all over. I think all these shouldn't trig you rather you should think on how to start your investment and not just that, you should also learn to be patient because often time investment requires patient to succeed in long run otherwise with little wave or market changes you would end up selling off your investment without getting to maturity stage. Side note no.2: Don't expect to get rich overnight

If your first experience is profit making, it will make you to use every opportunity to embrace BTC because that is what is attracting other people that doubt BTC before to change their minds to be part of BTC investment to hope for something good in the future.

If you have the knowledge of BTC on how to keep your seeds phrase safe and secure by writing them down in a place only you can have access to it,  it will make you to experience the positive side of BTC investment because those BTC investors you are seeing around the community has tested the positive side of BTC that made them who they are today.

Mostly when one invest in Bitcoin for the time that the price rate was low and seen the price now is a very big excitement. And many people didn't invest at that time because they were afraid to loss their money but now that people are making money from the investment then they are also interested to invest in the cryptocurrency. And from the two stories the op narrated, they really motivated him to key into the industry and he will also invest in it.

Many people have created thread that Bitcoin is for everyone and whoever comes to it, invest and have the benefits.

That's why many have high confidence in BTC because investors will be more interested in coins that can give them big profits specifically in this case BTC, Yes. BTC will not only be recognized as an investment portfolio but investors will think broadly and start talking about adopting blockchain technology in their ecosystem and whether its user base will become the main key to community development.

The first impression of investing in BTC is definitely not just me, you or others, but for the same feeling there will definitely be a variety of patterns and strategies whether the market conditions are green or red, each of us has our own mainstay strategy in navigating it.

For everyone who first invested in Bitcoin, investing in Bitcoin is very exciting especially the first investment. We have heard the investment stories of many such people, hearing the investment stories of many we have appreciated the efforts of many to invest. First if we invest bitcoin even with minimum amount of money then we will remember that investment for whole life and that investment will definitely be very good and exciting for us. I made the first investment and every investor makes the first investment in life and every investor probably remembers well how they made the first investment in life. Some invest by saving tiffin money and some invest by saving tuition fee money. Apart from that, many people sell their hobbies and invest in bitcoins in their student life. These investment topics are really exciting.

It's good that you have decided to engage with Bitcoin and the cryptocurrency market but as you go ahead and start your journey, you need to make sure you remember a few things.
Try to gather as much knowledge as possible before you get financially involved because it is essential to know everything from top to bottom before you have your money rolling into the market, this will help you manage your funds and your trades and investments in a better way.
Stay away from get-rich-quick schemes and projects that promise great returns in short time because none of that is true and they will only scam you out of your money.

It is best for him to firstly learn how Bitcoin or cypto generally works. This will help him to prepare his mind towards any challenges in the future. If his decision is to hold for a long time, I don't him losing if he's investing in Bitcoin and not altcoin. But he has to know we have a bear season in crypto where all seems going wrong. This is why learning about how crypto works is very important before investing.

The two stories OP narrated had good endings but you also need to know the details of the story. You should know that it took time, persistence, and sacrifice for them individuals to gain from Bitcoin investment. If possible you can go and learn from your former student about investing in Bitcoin. He might be able to tell you how he invested, how long he waited, and how he overcame several challenges. These success stories shouldn't make you see Bitcoin as a fast money investment because this is not the true nature of Bitcoin. You should see Bitcoin as a long-term investment and not a Ponzi scheme. However, investing in Bitcoin can increase the financial status of anybody who understands how the system works.

You should invest your time in learning about Bitcoin so that you will not be a victim of scams or hacks. Many people who lack basic knowledge about Bitcoin investment lost due to FUD or investing in some shitcoins. Just like the main character of the first story, I would also like to keep some amount of Bitcoin for my children because it is far better than most inheritance.

As you make up your mind to engage in bitcoin don't forget to keep your seed phrase safe and also find a trusted family member or friend who you can trust with your seed phrase in case of the unknown(death). From the story you shared, you saw how the wealthy man showed his wife where he kept the seed phrase to bitcoin in case he is no more, his wife will still gain access to it.

That's the habit of someone who understands the need to pass on their bitcoin assets to their family is supposed to learn and exhibit in character so that their trusted family member can have access to their wealth since bitcoin can be used as another means of storing assets.

i don't know what point you want to convey because from the start your narrative was full of unnecessary words and hyperbole. but i will only respond to the last point where you want to get involved in bitcoin investment and that is a very good thing and i fully support your decision to get involved in bitcoin. but you need to pay attention that investing in bitcoin is not completely beautiful as you describe, it is possible that you could lose quite badly later or make a profit, that is all very possible. so just prepare yourself to face all possibilities that will happen to your investment in bitcoin.

Investing in Ethereum, Solana, Dogecoin and Eloncoin is also a good idea. But in this context is like the op invested in bitcoin and that is why Makus specifically mentioned bitcoin as a good project for the Op. Because everyone interest is on bitcoin and not on altcoins but altcoins are alternative investment in which one can invest in them when you invested in bitcoin before then if there is any spare funds to invest in them then you can do that. Because diversification of investment is good.

And the two instances the Op gave that made her or him to like bitcoin might have motivated him well. The student has done well with bitcoin for him to see and he was motivated by the student display of the Landed and other properties with with bitcoin funds. Op you are welcome to the forum.

People always said that you made a good choice to invest in Bitcoin when it's not just Bitcoin that people can invest. There's also ETH and altcoins to choose where earning profits is also possible. Well, if they are not familiar with other altcoins or eth then Bitcoin should be the first choice and of course, knowledge about bitcoin and blockchain related topics should be learned. People should also keep this in mind where they shouldn't invest in what they haven't heard or know of yet (it is very much the same as diving to an unknown body of water which we won't know if it's safe or not unless we study it first).

Bitcoin over the years has been one of the most valuable assets in the market. With the current movement of  Bitcoin a lot of people will want to pick interest and jump in it. Those who know little or nothing about bitcoin will be so eager to invest due to the current market price of bitcoin. But timing is everything while investing in bitcoin.  The market is currently experiencing consolidation, I believe it the price will drop some more before taking off again. I can’t say when this movement will occur i suggest you look into the market ask the necessary questions you need before you invest. Don’t be overwhelmed by the market price, it looks breezy until you start losing money. Remember this is your hard earn money you about giving up, unless the money is surplus you can do what you want to do, but still it’s still best you do your own research. Do not investing on people opinions, people make mistakes, no one is perfect just so you know.  
 Investing in Bitcoin is stress free, with just your device and internet connection, you can start a career in it. I believe the forum would be of great assistance In your journey of Bitcoin investment. Do not make panic moves the market will always be there for you. Take you time learn the basics it’s is very necessary. Follow instructions and do not be shy to ask for help from anyone in places you don’t understand. You can ask for help here in the forum I’m sure they are people who will be willing and eager to help.

Op, you have made a good choice to invest in Bitcoin. Bitcoin being the first and the most trusted coin in the crypto network has gained enough reputation due to its genuine nature, and those who have invested for long term can boldly tell that they have benefited from this innovative invention by Satoshi Nakamoto. In Bitcoin investment there is no late time in buying the coin, the mistake some persons make is procrastination. When you ought to buy today and you procrastinate till next week or month, you might miss out some profits, of your aim is to invest for a long duration for like 4,5 or a decade then you might likely get enough profit, all it requires is just patience.

I know it's not too late though the price has spiked up but still I would never suggest anyone to buy at this moment unless they are long term hodler because there are lot of users who may get in due to excitement but may not hodl incase of market dump which usually happens when BTC is at peak I mean even a small market correct may create chaos for them. I would say one may invest for long term else if they can actively monitor the market and make the right moves with SL/TP.

It is not too late for us to invest in Bitcoin even though the price looks like it is high huge for an investment.
We can still make money from the market if we are patient and ready to take the risk just like every other crypto investors do investing in Bitcoin for the future. Making money is good for us if we know how to get to the cycle that would trigger our success in investing in Bitcoin or altcokns that would spark our profit as crypto investors. It is not too late and op can tlstill take the opportunity to invest looking at the current nature of the market.

It is good that you habeknkw about the potential of bitcoin, how you can make profit with it and also use it as a retirement plan, you can also give your bitcoin investment to your heir. For this to be possible, you should know that you need to be patient with it.

From your story, you are much concerned about bitcoin because you have seen the profit that those people that you mentioned got from their bitcoin investment, but did you ask them for how long have they being holding that bitcoin investment. Bitcoin investment is not a get rich quick scheme, and if you want to invest, it should be on a long term. You need to see bitcoin as a means of saving your money by investing in bitcoin regularly weekly or monthly with DCA, and when you have some good amount of funds, you can lump sum.

Likewise me too when I started cryptocurrency journey I was too quick to milk not knowing that bitcoin or cryptocurrency is not a get rich quick scheme, I but do to rumours about having Bitcoin and becoming rich over night made me invested in cryptocurrency but though I am not much angry at myself because something must initiate you to something. I was initiated to cryptocurrency by bitcoin speculation but I am happy I learnt the hard way and now am also happy I am into Bitcoin and I know how it works.

I think what you mean was speculated instead of procrastinated. Yes Bitcoin was speculated by people who don't know much about bitcoin, to be built to ensure people loses huge fund, but that was not true. They did that out of ignorant and I believe most of those fellow are now Bitcoin holders. That is why it is good to believe in yourself and DYOR before listening to speculators otherwise you will miss your opportunity of wealth.

My first experience with bitcoin didn't end well, I learned the hardway because I was too eager to milk the system instead of learning before earning. I'm curious each time the bull season is at the corner, I've come to the realistic phase where alot of things will fall in shape for us and we will continue to boosts our evidence. We're eager to make good profits in the space but it doesn't mean we shouldn't pass out key matches, there are targets set out for everyone. Bitcoin have be procrastinated to be one of these projects that's mainly built to ensure people loses huge part of their money.

That got me laughing as it's pathetic by the way using the phrase my experience as for another person encountered. Adoption of another person experience can only guide you but can't completely take you away from any challenge of failure or give you complete success, as much is not quick to rich investment one must nite that smartness matters allot because even when there is successful investment there is also investment failure when one is not calculative enough.

Learn from his experience but dont be eager to invest right away. You need to study on how it works especially now that the market is good and entering on this phase is kinda expensive. A lesson we must face is that we should always take extra caution if dealing on fomo. Sometimes its good but majority it end up badly. I was kinda having feeling of mixed emotions with the story but thats how life turns out. Kindly be someone that learn to study and think many times first before jumping in any of possible investment.

Want to involve yourself in Bitcoin investment? Not only seasonal, but consistent with understanding all the things that make your bitcoin safe. Thinking about profits is not true in my opinion if the way to secure it is ignored. Of course I didn't correct it.
Bitcoin is not the main thing you should think about at any time if there are other things that are more important.

Based on the experience I have gained so far, Bitcoin is good enough for the option to store values instead of saving money in a safe or expecting interest by putting it in a bank that can make it difficult for us when we need it.
My first story with Bitcoin is not attractive to you but is very memorable for me so I don't think I need to say here.

Ops you don't have to invest in Bitcoin because of another person's experience, I advise you to take a deep reflection on how and in what areas you feel that Bitcoin will improve your financial life in the long term, and since these stories are not your personal experiences it is wrong to title the thread as my experience.
Secondly only hold the amount of Bitcoin that you can afford to look away from for a very long time just like the man in the first story did, because with a long long-term investment approach in Bitcoin will you earn such huge return as you expected, also note that bitcoin is not all rosy investment and sometimes one can also lose in Bitcoin if your method of investment and timings are wrong, so as you have good stories from Bitcoin investment same you will have those with a sad story about bitcoin.

While I appreciate these two instance that has motivated you to invest in bitcoin. I feel that you should also be privy to the other side of the bitcoin story. With it when the chips are down you will have a solid why to keep holding.

The truth is that for ever 10 persons with rosy story about bitcoin there are 100 more out there whose investments where wiped out during the FTX saga. They some lost their retirement funds, while others their entire live savings.

The narratives of the people you have told us about are as a result of sticking to the right measure to secure their bitcoin for the first person. The second person is probably a long term holder.

Get both sides of the stories so that you have a balanced view and perspective about bitcoin.

If you had an encounter with bitcoin for the first time, you will not afford to let go after having serious challenges with the use of the traditional currency and system, bitcoin is all about freedom and financial opportunity, it also preached about privacy, security and profitability, we are having an increasing numbers of search on google as the people were continuously eager to know and learn about bitcoin.

OP, I won’t go into too much trouble to keep up with your style of speech, but I’ll put it simply: people are different. Money and the amount of money that is given to people carry certain information about them. There are people among us who give their last to poor people because they cannot bear to see others suffer, but there are also rich people who are busy with their personal lives and personalities.
Should we judge them?
But all this, in fact, like your first speech, has nothing to do with the fact that you decided to invest in Bitcoins.
You will find many interesting stories that will be regularly shared with you about what Bitcoin is doing to people's lives.
Another thing is important: do not make an idol out of Bitcoin, but use it as an additional option for saving your money for the future.

These events are not your personal experiences so in reality you’re yet to have your first Bitcoin experience. From the OP, your motivation is stirred by two things; one is you like the idea that Bitcoin can be passed as an inheritance. I believe the Bitcoin timelock feature will be of interest to you as you learn more about the Bitcoin ecosystem. You can grasp the whole concept from this thread:
 [Tutorial] Making your crypto inheritible
 
The other thing that seems to catch your interest is your desire to make profits from bitcoin investments just like your student did. However there may be other factors you didn’t consider, like the price your student bought bitcoin and how long he held his coins for.  Bitcoin is a volatile currency and though it is the least risky cryptocurrency to invest in, short term profits cannot be guaranteed. So as rule of thumb, you should only invest what you can afford to lose. 

Whenever my mind ponders on the inherent contradictions of capitalism and the spirit that drives these ideological dynamics, how capitalist ideas rule the entire world, how it has succeeded in creating a global village, and how it's recommended palliatives and resolutions are deployed to calming fray nerves, then at last, l reflect on the highlights of crypto currency in contemporary times.
Actually, two major events have always come into my reflective mind on issues dealing on crypto currency. Though, there are varieties, I hope I'm always moved and interested in Bitcoin investments. And these two incidents of Bitcoin have made me develop indept interest on it, and have become a major defender of Bitcoin investments in the human society.
Firstly, at a certain semi urban and commercial settlement, some few kilometers away from my home, there lived a renowned wealthy man who was married to a woman with seven children; three boys and four girls. When he was alive, he showed to his wife a particular spot at the wall of his parlour. Inside the wall is hidden certain financial details of his transactions among which is Seed Phrase of Bitcoin. He showed this secret to the wife on the basis of eventuality of his death, then the wife should crack the spot to access these financial documents.
Later, he died and the wife did in accordance to the husband instructions. She and the children inherited the accumulated wealth of the husband propelled by Bitcoin.
Secondly, my attention has always been drawn to the enthronement of a certain young person who was my student in the university into the middle class cadre in the society. This young person through his investments with Bitcoin has acquired several landed properties and seldom embarks on philanthropic social security to the poor in the society.
Therefore, on the basis of these two experiences of Bitcoin transactions narrated above, l have made up my mind to engage on Bitcoin investments and would like to be associated to all it's connotations.