Topic: My first knowledge in Bitcoin/Bitcointalk (Read 373 times)

Do you really read the posts above so as not to notice the message that the one you are greeting has been blocked? Subscription quota?

It looks like the forum needs a flashing animation so that those who are willing to talk about the rules have time to notice the posts of those who report that the user has been blocked, and that further advice may stop due to the absence of the questioner.

The behavior is very reminiscent of the senile illness of one American leader, giving his hands to the void.

Well, your uncle has told you the basics, and you will need to learn the rest yourself. There is actually no rocket science in here unless you get into technical stuff about Bitcoin and blockchain technology which is not necessary unless you want to learn it just because you want to, everything else is easy to learn if you have an interest in it. If we talk about the forum, you should learn about the rules and stuff and understand what you should and shouldn't do in here.

When it comes to investments, make sure that you stay vigilant since there are a lot of scams in the industry and they usually target newbie investors and lure them into investing in their fake projects or exchanges that don't really exist but since you already know that Bitcoin isn't a get-rich-quick scheme, you should be safe from all that.

I mean not so bad, welcome to the forum just continue to learn here, and for sure you're going to earn in the future as soon as you are ready with that knowledge.

For sure buying Bitcoin and storing it for years is a good strategy but this wasn't really an easy task to apply when I learned about cryptocurrency I already knew this kind of thing but It wasn't really easy to apply it, I ended up selling most of my Bitcoin the last time just because its really difficult to HODL especially if you doesnt have multiple sources of income and when the time I was just getting started in investing I usually depend on my profit on cryptocurrency.

I wouldn't really recommend it every time on the market, there are a few daily traders in the market but in my experience, it would need a lot of time and research in order to do daily trading to speculate and predict the movement in the market to possibly make a profit daily.

Goodluck on your cryptocurrency journey, continue to post here in the forum over time you're surely going to learn more and apply that to your investment, you can easily ask anything here in the forum since we have a lot of experienced members here that could help you, you could easily learn from others mistake if you do that.

I saw his account, if you check bpip, you can easily understand that he is an autoban user. But he got banned for copying (Plagiarism) from google in his short journey.

https://bitcointalksearch.org/topic/m.62901098

Yes, that's a very good idea. Because for me personally investing in Bitcoin for a long period of time is the safest, simplest way and has the potential to get bigger profits (depending on capital). Because when compared to other methods such as futures and daily trading, long-term investment is more promising. Especially for a beginner who has just entered the crypto realm, long-term investment is the most recommended thing to do. However, make sure you learn the basic knowledge first, so that you don't experience mistakes in the course of your bitcoin investment.

Yes, day trading carries very high risks. However, even though the risk is greater, if daily trading uses bitcoin assets, in my opinion the risk of experiencing losses is very small compared to other cryptocurrency assets. Because if you look at market price movements, bitcoin tends to always increase. So if, for example, the bitcoin asset that is being traded gets stuck, the key is just to be patient, until the price of bitcoin goes up again.
But from my experience, to carry out daily trading using bitcoin assets, you must have quite large capital. Because if the capital is large, when Bitcoin experiences an increase in price, the profits can be said to be more significant. In contrast to having small capital, when Bitcoin prices increase, the profits that can be obtained will definitely not be large.

But even so, have large capital and small capital. If you look at the advantages and disadvantages, it can be said to be balanced. Because you have large capital, the profits tend to be greater. But if, for example, Bitcoin experiences a price decline, the losses will be no less big. Likewise, using small capital. Even though the profits are small, even when Bitcoin experiences a decline, the losses will not be much. So in essence, there is always a big risk in a big profit.

Joining the BTT forum is indeed the right action for beginners in the crypto world who want to learn the knowledge in it. Because you could say that the BTT forum is a warehouse for bitcoin and crypto investors. From beginner level investors to experienced investors are on this forum.

So the most important thing is that when you join the discussion to expand your knowledge about crypto in this forum, don't forget to read the rules stated in this forum. So that you do not violate the rules in this forum.

• Newbies - Read before posting

https://bpip.org/Profile?id=3578850

Welcome to this amazing forum, mate!

You actually get what you won't if you concentrate and keep in mind the guidance provided by your uncle, you actually obtain what you won't. And you can live in peace without any problems because this forum has specific rules and guidelines that you must follow. As long as you try as much as possible to have a little knowledge about Bitcointalk before you introduce yourself, at least everything will be very easy for you. But the little I have to tell you is that this is the right time for you to continue with your research so that whatever you come across, you won't find it difficult.

Welcome to the forum!
It's always nice seeing newbies who already have good information about bitcoin and bitcointalk before joining the forum. If you can continue to learn, your knowledge of bitcoin will increase very fast. You have to be grateful to your uncle because he did marvellous to you. I however wish to react to some of the things you discussed below:

At this time, I will advise you to eradicate the mindset of 3 to 5yrs holding in you. If you continue with the mindset, you may be cheated by the coming bull run.

Both are risky, just know what you are doing else you will hold for long term and in the end earn nothing.

Does bitcoin really support the youth? How?
Except you are able to know how to trade it or mine, faucet is no more yielding or never yielded better amount of Satoshi, just a waste of time. For investment or hodling of bitcoin, you have to wait until four years to accumulate whatever profit , so it takes a youth who has extra to be patient to gain it.

OP, welcome for your nice plan. Thanks to your uncle, you came to know about bitcoin because of your uncle. OP seems you have little idea about bitcoin, I would suggest you better invest in bitcoin than trading. You can invest in Bitcoin by having a good idea about Bitcoin investment. At the moment I think you have a good chance, because the price of Bitcoin is very low right now. If you invest in Bitcoin now and hold it for a long time, expect to reap huge profits. OP have you heard about risk in bitcoin? Investing in Bitcoin is risky. You don't buy bitcoins all at once, you buy bitcoins following DCA.

At first I noticed from your story that you are very much attentive and focused. It is only a person that is ready to learn that has that characteristics of listening and I believe your uncle saw it in you and decided to properly educate your about Bitcoin and this platform. All thanks to your uncle for his kind gesture.

To add up to the information others have given you, I would advise you take the following very serious since you have decided to be a Bitcoin holder.
1. Do not click on links sent to your pm or dm via email, social media handles etc which you have no idea from where it is coming from.
2.  Avoid airdrops and unnecessary give away that warrants you to click on links.
3. Do not connect your wallet to any web3 browser or give access to connect your wallet to any web.

Nice to have you on bitcointalk 

It's good to have someone in the person of an uncle out there have already given you a wavelength about bitcoin and a few benefits you can get from it use. As a newbie there a lot you would need to learn and through the forum you will learn it all as you wish because, there's so much information in the forum you can learn get about bitcoin it all depends on how willing you are to learn.

 For quite a lot of newbies have shown interest to learn from their very beginning as members of the forum but later got distracted by deciding to put in front merit phishing schemes/tactics, ranking up and other related stuffs above learning to acquire the knowledge about bitcoin first. Such persons never survive long here, so never be like them.  I wish you all the best as we all keep learning from each other.  Here's a thread that discuss about forum tips for newbies: Newbies - Read before posting by Lauda.

You're right, maybe OP's uncle is well versed in Bitcoin which is why he discussed Bitcoin investing, trading and mining with him. Since he is new here, he may not have gained much knowledge and skills, but hopefully he will get good experience from this form very soon. But you said that very few people know about Bitcoin in the city you live in, but I would suggest you to educate the people around you about Bitcoin, it would be good. And if you show the positive aspects of Bitcoin to the people in your area, then surely they will understand, so you need to share the knowledge about Bitcoin. However, if you go to people in your area to get bitcoin education, then surely you will succeed if you try.

Going through your story, I see that your uncle has explained a lot to you about Bitcoin, and I will say that this is the first knowledge every newbie needs to get about Bitcoin: that it is not a get-rich-quick scheme, because that is what is causing problems to many newbies nowadays that  later they will be depressed after they invested, and the price of Bitcoin is not going as their expecting or even brainwashed by scammers that when they send them money, they will help them to invest in bitcoin and later they will make good profits in a short period of time but later turn to scam, so having an idea early that Bitcoin is not a scheme that makes you rich quickly is a great knowledge.
 
Honestly, your uncle has given you good basic knowledge about Bitcoin, but that is not all because there is a lot to learn about Bitcoin, especially about wallets to use to get proper security for your Bitcoin investment, but now that you are in the forum, I believe you will get proper guidelines about that,and again, don't be shy to ask any form of question relegated to Bitcoin and cryptocurrency.

Crypto trading is the only thing closer to getting rich quick in crypto space and it's also very risky, but not for everyone, some people are so good at trading that they laugh at the long term investors in the space.

To become a professional trader you will the commitment, it's not easy to learn how to trade crypto properly and professionally, to cut this comment short, its better to be not be lazy when it comes to everything crypto, you will be tested in time, be patience and learn and do not get tired of learning.

Mining Bitcoin comes to mind after you have made some money from somewhere, it's costly to be a crypto miner today, you need constant power and also the best asic miners, still as a miner you need to be a holder too, because this is the way to make more money while mining Bitcoin.

You are welcome to the forum newbie, do not forget to use the search engine to find answers to questions you have because too many topics from newbies have been discussed too many times before.

The post makes sense, but the typing is the issue. These are some things that cause some people to feel as though their posts lack merit and cause them to complain that newbies aren't usually given merit. A post must be good to receive merit before giving to it. Regarding bitcoin, you are correct that sometimes before posting, you have to go through what you type and check it very carefully. I think it's great that you're interested in bitcoin and that your uncle has shared some information with you about it. This is a great idea, and if you have a good mind, you'll invest wisely and profit from it. You won't ever regret visiting the forum to learn more about bitcoin.

Your uncle also told you that investing in bitcoin does not guarantee that you will become wealthy quickly. Your uncle is correct, and I think he is knowledgeable about bitcoin, so I believe he made you understand the risk and how you will be able to be patient with your investment. After all, as a coin holder, if you don't have the ability to hold a coin for an extended period of time, that means you cannot invest because if you can't take the risk, you will perceive it as a scam.

You are one of the lucky people compared to friends your age because you have an Uncle who knows alot about Bitcoin. The explanation is very correct, you have to dig out more information from it, such as using a safe wallet to store Bitcoin in the long term. Your presence here can combine knowledge from your uncle with explanations outlined by more senior users, even though the delivery method is slightly different, both have the same goal.
You must focus on investment as the first step as a new Bitcoin investor, trading requires a strong mentality for people who are not used to doing it, while investing does not require monitoring movements every day. Hopefully you will be successful as a Bitcoin investor and trader after getting the insight here.

Welcome yo Bitcointalk forum mate. Hope you will enjoy your time here in the forum. Have you read the forum rules, pinned threads?. If you haven't then you should do it so that you will be familiar with the forum. You should also check the thread created  by Ratimov which is Beginners & Help where it contains different topics to start learning. As many newbies have asked before if they are late to join or not but ny answer is no, you are not late.

Buy BTC and hold until the next block halving is a good suggestion from your uncle for long-term investment but the only problem is we do not know if we will see the price go to the moon again because Bitcoin these days is regulated compared to before.

About trading, yes it's risky for a newbie or those who don't have trading skills but you can lessen the risk if you study technical analysis and learn how to use stop-lose.

And the last part about mining it seems your uncle didn't explain it well.
Mining Bitcoin needs ASIC units to mine a block.
Blocks contain 6.25 bitcoins as a reward to miners and the transactions they include in the blocks contain transaction fees that would be the miner's incentive.

You have joined the right forum mate, here we always talk about bitcoin and love bitcoin. It sounds like your uncle has good knowledge about bitcoin, and it would be nice to have someone who understands bitcoin. My condition is not as good as yours because in my city very few people know about bitcoin so I cannot easily share knowledge about bitcoin. I can only ask and discuss here

But I hope your story is real because sometimes people make up stories to make posts here. Hopefully you can learn a lot in this forum and get profit from your investment

Did you uncle just knew about bitcoin in 2022? Or it’s just in 2022 that he realize he need to share what bitcoin really is with you? Just asking in other to get the full details of the story.

Everything that you uncle said about bitcoin and how to acquire it is through and at least it’s nice that he made a bold step in telling you the reality instead of lying to you the way others do to their newbies which they invite over to bitcoin community which is the get rich quick scheme.

And since you have been told of what the digital currency is all about, all you have to do now is map out your plan and think of means that you can become a bitcoin investor your self and don’t just be someone who read and learn about it.

You have the right mindset and perspective towards bitcoin but it doesn't stop there. Your Uncle right now more than the forum still remains the best person in the position to teach you more about bitcoin. You still have a lot more to and you will just as profiting from bitcoin requires a long term perspective so it is with learning about the project.

Bitcointalk is welcoming to all newbies. Make the most of your time while you are here. Goodluck.

How can it pays and supports youths if the plan is to hold for a long term?  In this kind of plan, investors are suppose to spend money to buy Bitcoin and stash it for years.  Stashing it for years will not produce profit so saying that it can pays and support youth when one is not selling it for a very long time is somehow misleading.


This is the reason why I stated the question above.  Let us say you are in your 2nd year of bachelor degree, waiting for 3 - 5 years makes you a graduate student and holding Bitcoin won't give you profit unless you sell it which is planned after 3 to 5 years/


This can support the your statement if you happen you get regular profit from trading.  It is indeed have more risk but this risk can be mitigated by learning TA and FA and applying them to the trade.


Rather than posting your thought, you could have do some search and read the lots of questions of newbies who got here before you.  You can find out more if you read more and possibly your question can have more depth.

Your uncle is right about that. What's his account name?

Don't get me wrong but we've heard too many of this type of stories here. Generally, they make up these stories to get merit. If what you say is true, there is no problem. You can find answers to all your questions about Bitcoin here. Don't be afraid to ask questions, even simple ones. Just remember to do your own research. The questions you ask have probably been answered here many times before. If you are young, consider Bitcoin as part of a long-term investment. Don't invest the money you urgently need in crypto-currencies. Buy coins regularly with the money you set aside for investment. Good luck.

Your uncle have said it all and he is right Bitcoin volatility can make you gain profit if left for a long period of time especially when you are lucky to be part of the bullish trend. Bitcoin has a large scope and understanding everything about can be challenging but here in the forum you can learn so much about it and there are different sections and boards where discussions of various parts of it are being done. You should begin by learning the basics then later proceeding to other sections of your choice, it’s not necessary you learn all at the same time.

Ps: In the crypto world even after you are being told to invest in a certain coin because it has the potential to reach the moon you are advised to still carry out your own research and make the final decision on which coin to invest in based on the results of your research.

Welcome to bitcointalk! I believe your reasons for coming here are genuine, and I think you will grow into a person more knowledgeable in the crypto field than when you came. You just have to be patient with yourself as you slowly become that person.

I’m surprised you’d ask such a question, what’s the point in knowing who’s family in bitcointalk? It is unnecessary in my opinion, and I don’t think OP should tag anyone’s account without asking permission first.

I see that there are couple of complains about your wordings and letters and i am pleased that you have taken the advice and made corrections. So i advise that you can add grammarly extension to your browser to assist you with spelling and others.

With regards to your op, i think you have done justice to the basics of bitcoin and crypto currency so i will advise that you do not apply emotions to your doings in crypto trading. And also have it at the back of your mind that either you trade; or you buy and keep for long term; they are all risky. (All forms of investment are a risk).

Always dyor and follow the simple paths; understanding the basics and triumphing!!

The greatest and most important thing you learn about Bitcoit isn't quick-rich scheme. That's what we should be aware of at the beginning of the Bitcoin journey. Many of us spread misinformation about Bitcoin, saying that we may get rich quickly by investing in it. Bitcoin isn't an investment project or Ponzi scheme from which you can make quick money. It's a highly volatile cryptocurrency, and we can capitalise on the volatility through trading. That's how we may make money. On the other hand, we may lose money as well due to wrong decisions. So overall, you learn a valuable lesson about bitcoin investment.

Your uncle recommended Bitcoin and Bitcointalk to you it's a very honor to have such a good mindset uncle you have because most people don't know about Bitcoin or if they know they don't recommend it to their children. It seems that your uncle is very supportive and you said your uncle pointed out these two then it means that he is already working here and if I am not he may be at the legendary rank or maybe the hero rank. Well, this platform will help you a lot not only by asking but also by looking at the different threads and collecting information according to your interest. When you are new here then I recommend you to take a look at the forum rules which are already mentioned by a user up there just go there and read them carefully so when you have knowledge about the rules it is possible that you can't violate any of them . So best of luck and welcome to this forum. I hope you will get for what you came here.

After many users are complaining about your typing or grammatical errors, I know English is not everybody's native language. I advise you to be using grammatical correction tools like QuilBot to check your grammar in case of any missing punctuation and sentence structure.

This forum will help you to learn about bitcoin if you take your time and visit the forum frequently, and if you ask questions on anything and need clarifications regarding bitcoin, in general, just keep learning and you will understand the concept of bitcoin and know the right time and wallet to invest your bitcoin in to avoid making errors.

These are mere misconceptions and typographical errors. In terms of corrections such as the first case involving Bitcoin with an upper case ‘B’ and that of bitcoin with a lower case ‘b’, pointing out the difference would do more clarification to what’s wrong with it and in turn, bring about the consciousness for OP and users when they come across or what to say the word than just laying it out there.

It’s a common mistake and even I could make such mistakes but, if I would like to say something to OP on typos, I’ll say, you should do a run down on your composure after writing and you might see a few things to correct.

A little something here. Miners don’t get to mine already mined bitcoins. Like, just how does that happens or sounds to you. Like these coins are already in circulation and what happens yo initiated transactions is a confirmation on them into the blockchain. No further mining is required.

Hey, Instead of typing "BITCOIN" you have written "BITCION" every time in your post so it doesn't seems like a typing mistake.
Your uncle's advice is correct and you are at right place to learn about cryptos. Please checkout this post to have some ideas about forum's guidelines to follow: https://bitcointalksearch.org/topic/newbies-read-before-posting-1689727

A few additions to your points:

1. Since you are thinking of holding for long term the wallet should be non-custodial because you never know a custodial wallet may discontinue their service of may put some mandatory requirement like KYC with passport only, and your funds will be blocked. SO always use non-custodial wallets. If you are planning to invest and hold big amount its worth to consider hardware wallet. Hardware wallets are the most secure method to store your crypto funds. --> here is the list of hardware wallets

2. Bear market is best time to enter in the market. since halving is coming so this period may be the right time to take entry.

3. Trading is risky that correct but some trading strategies are safe. For example you can buy in the bear market and sell in bull market as per targets set by you. Then again take entry in bear market.

You have come to the right place. This forum is as vast as it can be. Do work on your writing skills though.
Start developing a habit of reading because that is what will get you the immense knowledge about bitcoin you need.
Your primary goal should be learning as much as you can followed by knowing how to securing your coins.

Although your narration seems vague I will advice you OP to spend more time reviewing your post if your English is bad rather search for your local board to make necessary contributions to the forum.
I will advice you to read more about Bitcoin on this forum as you will gain a lot rather than making posts of this nature.

There are some typing mistakes in the post you posted so we are having trouble understanding what you actually mean by which words.  Before posting next, you must double check that your post is public as you posted it. If you read my comment then you can edit your post and resubmit it so that everyone can understand what you really mean. If the content of the post is not well understood then it is difficult to reply to that post.

wow, your uncle knows alot, is he here on the forum cause i would love to know him. hope you dont mind telling us his user name? it would be better if you work on your grammatical structure.
well, you are welcome to bitcointalk. it would be nice if you go through some of the rule guiding everyone here on the forum. here is the first you might want to read Unofficial list of (official) Bitcointalk.org rules, guidelines, FAQ
bitcoin, can do so much more than you can think of. it is a key to financial freedom. just as your uncle said, it is not a get rich quick scheme. a lot of people get the wrong idea about bitcoin because of how they were informed. Trading comes with a lot of risk and i usually advice people or newbies to hold for a long term

It’s Bitcoin not bitcion same goes for Bitcointalk not Bitciontalk.

I heard about bitcoin from my uncle and he has been talking about bitcoin since February 2022 and have been hearing how bitcoin pays and support youths. If invest in long term. And he also warned me that bitcoin is not get quick rich scheme and there are different ways one can get bitcoin. And the ones he told me were:
1) buy bitcoin and store it in the wallet for the next bull market   to come. And he told me to buy it in the bear market and invest it for a long term investment for like 3_5 years period, so I am planning to invest for the long term.
2) trading is the buying and selling of bitcoin in the market at all time or anytime which gives you profit if you can trade well. But trading is more risk than investment.
3) mining is the solving of mathematical problem through computing system when someone send bitcoin to a recipient, a miner must mine the coins in the blockchain before the recipient will receive the coin.
         Conclusion:
In my curiousity to know more about bitcoin, he told me to register in bitcointalk so I will learn and know more from there. So if I make any mistake in any of my writing, please correct me. I am open to correction.