practical experience in Bitcoin investment.

Asuspawer09

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Quote from: ? on February 03, 2025, 08:08:56 AM

Bitcoin investment is a very good investment and there's a lot of ways in which one can gain knowledge about Bitcoin investment however practical experience is a powerful way to gain knowledge about Bitcoin investment because it provides hands-on learning about Bitcoin investment which goes beyond theoretical understanding, for example when you buy, send, receive, or trade Bitcoin, you experience how the blockchain operates and witness concepts like transaction confirmations, fees, and wallet management, Bitcoin is highly volatile in nature and engaging in actual investments helps you understand price fluctuations, market sentiment, trading patterns and how dip in Bitcoin can help you accumulate more with less price.
Lastly engaging in the practical experience reveals how emotional factors like fear and greed influence investment decisions helping you develop discipline, patience and consistency towards Bitcoin investment.

No matter what you study about Bitcoin the only way you can gain better knowledge and be grounded in Bitcoin investment is by practical experience so start now.

There's always a saying that experience is the best teacher, I would say that it is true for sure since you're not really going to actually learn something if you're not going to apply it, you might have the knowledge of know something about it but if you are not going to apply it you're not going to know actually how to do it, But it doesnt really mean that you should stop from learning anything like about cryptocurrency and just start on it start experiencing it, still knowledge is very important, especially on cryptocurrency, knowledge is power, it is going to be your foundation and your guide.

I always tell or advise here in the forum to learn how to do it first and if you somehow know about it start your journey already with a small investment because with that you're going to actually experience and learn it on your own, instead of waiting to learn everything and not having the confidence its better start doing it right now, but still I always tell that we have this forum where we have a lot of veteran investors that could easily help them, having a mentor is going to be a huge help since they are going to take the lose, meaning we are going to learn from there mistakes.

NewStakes

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Quote from: aoluain on February 03, 2025, 12:48:04 PM

as with everything, you can read and research as much as you want which will
only go so far but its hands on experience which gives the user the confidence
and knowledge they need to be comfortable using Bitcoin.

Obviously gaining knowledge by reading and researching cant do any harm
but when it comes to moving Bitcoin through buying, selling and HODL'ing you need
more than "Theory"
and will only benefit the user, this can happen before of after the practical experience.

Quote from: NewStakes on February 03, 2025, 12:31:31 PM

Looking at the current chart, BTC was down massively earlier today and has already recovered over $5,000 of the drop. No amount of practical experience can help you predict those moves, so be prepared for an exciting ride!

Thats where technical knowledge outweighs practical knowledge, you need to
know how to read charts when it comes to trading.

You are correct about charts helping to trade, but people need to know those signals can sometimes be very wrong. When the really good traders are taken by surprise, you can get extreme movements in fast markets.

Queentoshi

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Quote from: ? on February 03, 2025, 08:08:56 AM

however practical experience is a powerful way to gain knowledge about Bitcoin investment

Practical experience may also lead to deadly mistakes, some capable of hindering your decision to continue with investing in bitcoins. This is why you must embrace the opportunity of learning from the experience of another person if you are in that position, your own mistakes may be too costly.
Practical knowledge can also be gotten from a teacher or someone who has better experience in investing if you learn under them, their experience will be very valuable to you and your progress. You must not learn to invest on your own.

Hewlet

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Quote from: ? on February 03, 2025, 08:08:56 AM

No matter what you study about Bitcoin the only way you can gain better knowledge and be grounded in Bitcoin investment is by practical experience so start now.

for someone in the bitcoin sphere, there are phases you will find yourself which ranges from the time you where a complete newbie and knows nothing about bitcoin until the time you gain a certain extent of knowledge that is enough to start buying, trading and holding it up to a certain number of years. at each of these phases, your experience level will keep increasing as you go and with time you can be comfortable enough to go into complete long term investment because you have understood the system.

everyone that has at least been in the bitcoin space for a period of six month to a year should have bought, sold, involved in some form of trading which can be as low as p2p trading and even though at the start it might look like a big deal, with time it becomes a normal thing that is just as simple as the normal transaction you have been doing on your banking app. in a digital age like ours, the experience you have in a particular technology is always useful while you get involved in another technology. it is the same thing that is applicable to your knowledge in bitcoin investment, it actually looks more difficult theoretically but practically, getting involved in bitcoin investment is not something that is completely difficult.

kotajikikox

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Quote from: 2Pizza410000BTC on February 03, 2025, 05:14:28 PM

It is true that learning something practically helps people learn very quickly. For example, learning to drive a car practically is more effective than learning to drive a car by reading a book.

I am glad you used cars as your analogy. Because just like driving a car for the first time, you can't just immediately do it. Why? Because there is too much risks. You might break the car, you might hurt yourself and others. Worst, you might get yourself and other people killed.

Almost same with investing in bitcoin. There are real life consequences that could affect your life and others heavily. Both theoretical and practical knowledge and skills are important, imo. Having both will assure you that whether that is driving the car or investing in bitcoin you can do it well.

2Pizza410000BTC

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It is true that learning something practically helps people learn very quickly. For example, learning to drive a car practically is more effective than learning to drive a car by reading a book. Similarly, if a person directly invests in Bitcoin investment and can do it directly with his own hands, it will play the most effective role in learning a new person. However, in this case, I would not advise a new person to test it practically with a lot of money, but I would advise him to learn practically with a small amount of money so that even if a mistake is made, it can be done with a small amount of money. For example, if during a Bitcoin transaction, the wrong address is selected and sent, it should be done with a small amount of money, so that it can be easily received and it will be very good to transact with a small amount of money.

Doan9269

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Quote from: ? on February 03, 2025, 08:08:56 AM

No matter what you study about Bitcoin the only way you can gain better knowledge and be grounded in Bitcoin investment is by practical experience so start now.

I understand that in learning, we can engaged either on the theoretical aspect or the practical aspect, while in some cases, we need both to have more broader experience and this same is what i want to apply here, bitcoin is what we have to learn and understand about the network, which is more of theoretical and technical aspect while having a full insight to how we can practice it uses, applications, trades and other assets of investments as it may applies to the use of bitcoin will have to come with our practical behavior as well as experience on how we can use bitcoin for our own purpose or benefits.

GeorgeJohn

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Quote from: ? on February 03, 2025, 08:08:56 AM

Bitcoin investment is a very good investment and there's a lot of ways in which one can gain knowledge about Bitcoin investment

Yeah we have a diverse way people can know about Bitcoin and it's investment, so it depends on the objectives of the person and how he or she heard about bitcoin, it's obvious that bitcoin investment can be known through Manual class or online tutorials, especially in youtube

Quote from: ? on February 03, 2025, 08:08:56 AM

example when you buy, send, receive, or trade Bitcoin, you experience how the blockchain operates and witness concepts like transaction confirmations, fees, and wallet management, Bitcoin is highly volatile in nature and engaging in actual investments helps you understand price fluctuations, market sentiment, trading patterns and how dip in Bitcoin can help you accumulate more with less price.
Lastly engaging in the practical experience reveals how emotional factors like fear and greed influence investment decisions helping you develop discipline, patience and consistency towards Bitcoin investment.

If it's your first time you will not understand anything of how bitcoin blockchain is been done, because you understand the process of bitcoin transactions in blockchain, when you are informed about it, ordinarily, your transaction in bitcoin will not make you to know the processes of bitcoin.

Rockstarguy

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Quote from: ? on February 03, 2025, 08:08:56 AM

Lastly engaging in the practical experience reveals how emotional factors like fear and greed influence investment decisions helping you develop discipline, patience and consistency towards Bitcoin investment.

No matter what you study about Bitcoin the only way you can gain better knowledge and be grounded in Bitcoin investment is by practical experience so start now.

Wel, having experience in every investment is good but I think it is in trading you need more experience but I think in bitcoin investment one of the things a beginner needs so much is understanding bitcoin and the volatility of the market and to understand that bitcoin investment is profitable when it is longterm. If you have these main understanding I don't think you will have any problem investing bitcoin. The reasons why some people have it difficult to invest bitcoin is because they lack understanding.

Zoomic

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Quote from: Mia Chloe on February 03, 2025, 02:14:09 PM

The basics of bitcoin is understanding the concept of Decentralisation along side Important things like privacy and security. These are things you have to attempt and not just read about.

Exactly. I keep telling people that they would know more when they get involved. I mean, when they invest or start practicing. But while they start, they have to start with small investment capital so if they make mistakes that would result in them losing money, they won't get hurt that bad. They are all in the learning process and as beginners, mistakes should be welcomed so they can learn more and make researches where necessary. Bitcoin is too technical to understand fully just by relying on the theoretical knowledge of it.

Ndabagi01

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Quote from: Cityhunter34 on February 03, 2025, 09:52:37 AM

That is the real truth about it Op, Just like as they used to Said that practice makes perfect that is how it is in this Bitcoin investment. because as day goes that is how we are learning and gaining more experience, as a good investor that really wants to invest in Bitcoin halving patience is the most important thing in this Bitcoin investment. Because once you have patience and focus, it will going to help you gain the basic knowledge that is require for you to hold for future.

Bitcoin investment is a very big investment that when you invest into for some particular period of time, you’ll surely reap the fruits of your investment. Investment in bitcoin needs patience and perseverance in order to reap good returns in the long run. It is an investment that you’re sure to make some profits in the long time but only needs you to show that you’ll be patient throughout that period until your investment is matured enough to take profits. Bitcoin halving has always been the time that many bitcoin investors are always waiting for to take profit of their investment because that’s the time a new all time high is recorded and many people do take their profits and prepare for the bear market.

Mia Chloe

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Actually, the fact is op you do have a point. Bitcoin and cryptocurrencies in general isn't something that you read and conclude your do understand especially when it comes to critical aspects like trading some simple economics and also most especially for the case of Hodling most times, security. The problem these days is people basically dive into investing without understanding how the network works.

The basics of bitcoin is understanding the concept of Decentralisation along side Important things like privacy and security. These are things you have to attempt and not just read about.

aoluain

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as with everything, you can read and research as much as you want which will
only go so far but its hands on experience which gives the user the confidence
and knowledge they need to be comfortable using Bitcoin.

Obviously gaining knowledge by reading and researching cant do any harm
but when it comes to moving Bitcoin through buying, selling and HODL'ing you need
more than "Theory"
and will only benefit the user, this can happen before of after the practical experience.

Quote from: NewStakes on February 03, 2025, 12:31:31 PM

Looking at the current chart, BTC was down massively earlier today and has already recovered over $5,000 of the drop. No amount of practical experience can help you predict those moves, so be prepared for an exciting ride!

Thats where technical knowledge outweighs practical knowledge, you need to
know how to read charts when it comes to trading.

NewStakes

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Looking at the current chart, BTC was down massively earlier today and has already recovered over $5,000 of the drop. No amount of practical experience can help you predict those moves, so be prepared for an exciting ride!

Sim_card

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Having the theorical knowledge of bitcoin without investing is like you don't believe in what you are learning and have learned. Experience is the best teacher, because bitcoin investment is pratical. You will think everything will go smooth for you when investing with your mouth without knowing the risk involved through pratical.

Reatim

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Quote from: ? on February 03, 2025, 08:08:56 AM

No matter what you study about Bitcoin the only way you can gain better knowledge and be grounded in Bitcoin investment is by practical experience so start now.

experience is indeed the best teacher but also some people might not exactly be capable of diving straight in to bitcoin due to maybe lack of resources or whatnot so the best they can do is just obtain as much knowledge as they can until they are ready to buy, sell or hold bitcoin

knowledge can also help a lot so make sure you learn as much as you can and not just depend on practical experience because there are real risks involved here

Coin_Wow

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Buy extra when people are panicking since the market is down sharply, today is a good example.

Son Of Blockchain (SOB)

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Quote from: ? on February 03, 2025, 08:08:56 AM

for example when you buy, send, receive, or trade Bitcoin, you experience how the blockchain operates and witness concepts like transaction confirmations, fees, and wallet management, Bitcoin is highly volatile in nature and engaging in actual investments helps you understand price fluctuations, market sentiment, trading patterns and how dip in Bitcoin can help you accumulate more with less price.

You've made some really good points OP but when next you're relating trading with Bitcoin you need to be specific on whether it's P2P trading that involves buying and selling or the trading that requires on to speculate about the price movement of the market, P2P trading is cool especially when the persons holding is due for profit taking, maybe they could just sell some portions via P2P on exchanges.

But the trading that involves market speculation is not something cool with Bitcoin and people shouldn't involve it with Bitcoin cause the risk is very high, one can speculate the market with other coins but not with Bitcoin cause it's very valuable and shouldn't be losed easily, Bitcoin is precious, it's scarce and should be held for longer time instead of trading with it.

BIT-BENDER

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Actually practically experience is not the best way to learn about Bitcoin investments. Take for instant as an adult one of your responsibilities for those younger one close to you is give them some of your experience especially on things that may hurt them so that they can learn. There are so many experiences of people out there about Bitcoin and how they have been able to either avoid mistakes or made mistakes, you should do lots of research, learn from other mistakes so you don't learn the hard way(experience). Don't rush into Bitcoin investments take your time and even if you can't completely avoid mistakes this way would help you limit it.

Bitcoin Smith

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We use fiat everyday and do you think people understood the actual fiat system?

No, we can only get familiar with the process but we can only learn deep like technical information about blockchain, what's the purpose of nodes, and how the miners sustain with increased mining difficulty and a lot more can be learned only if we start researching about particular thing from different sources. I agree everyone starts from scratch but everyone has different purpose for using Bitcoin.

moneystery

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Quote from: ? on February 03, 2025, 08:08:56 AM

.... Bitcoin is highly volatile in nature and engaging in actual investments helps you understand price fluctuations, market sentiment, trading patterns ....

what you said in this paragraph is basically a trading mindset, not an investment. if you want to get involved in bitcoin investment you need to understand the risks, and set which investment method is right for you (_{DCA is better for newbie}), and then learn to manage an emergency fund, and set your investment goals in the long term. these are the important points in bitcoin investment that people need to understand. related to trading patterns it is not necessary to learn when you want to invest your money in bitcoin in the long term.

Cityhunter34

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That is the real truth about it Op, Just like as they used to Said that practice makes perfect that is how it is in this Bitcoin investment. because as day goes that is how we are learning and gaining more experience, as a good investor that really wants to invest in Bitcoin halving patience is the most important thing in this Bitcoin investment. Because once you have patience and focus, it will going to help you gain the basic knowledge that is require for you to hold for future.

uneng

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Quote from: ? on February 03, 2025, 08:08:56 AM

No matter what you study about Bitcoin the only way you can gain better knowledge and be grounded in Bitcoin investment is by practical experience so start now.

It's true, nothing better than learning on practice! It allows a deeper contact with reality and a more immersive and efficient learnship method, which will attach knowledge to your memory much superiorly than reading books, articles or watching videos on the internet. I just recommend starting with low sums of money, so you mitigate risk of losses. Once you gain more experience and confidence dealing with Bitcoin, you can raise your budget destined to the investment.

It's important to make progress, slowly, but surely, accordingly to the knowledge acquired along the way. Also, to learn on practice is a good method for young people who have a lot of free time, so they spend it doing micro tasks on the internet, which will reward them some satoshis, so they can make their first transactions, getting used to Bitcoin's features and learning its basic characteristics.

?

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Here are some practical tips and experience to consider when investing in bitcoin.

setting a clear goals:
1, define your investment goals.
2, determine your investment horizon.
3, know your risk tolerance.

Consider the right investment strategy:
1, active trading,buy and sell your bitcoin frequently to take advantage of the short term price movement.
2, hoding your bitcoin for long term.
3, dollar-cost average,investing a fix amount of money at a regular interval.

bestcandy

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Quote from: ? on February 03, 2025, 08:08:56 AM

Bitcoin investment is a very good investment and there's a lot of ways in which one can gain knowledge about Bitcoin investment however practical experience is a powerful way to gain knowledge about Bitcoin investment because it provides hands-on learning about Bitcoin investment which goes beyond theoretical understanding, for example when you buy, send, receive, or trade Bitcoin, you experience how the blockchain operates and witness concepts like transaction confirmations, fees, and wallet management, Bitcoin is highly volatile in nature and engaging in actual investments helps you understand price fluctuations, market sentiment, trading patterns and how dip in Bitcoin can help you accumulate more with less price.
Lastly engaging in the practical experience reveals how emotional factors like fear and greed influence investment decisions helping you develop discipline, patience and consistency towards Bitcoin investment.

No matter what you study about Bitcoin the only way you can gain better knowledge and be grounded in Bitcoin investment is by practical experience so start now.

Future potential and profitability of Bitcoin has made it one of the most lucrative investment that doesn't give stress to invest. All you need is your fund and ability to hold your Bitcoin asset for long term to enable you make more profit when the price will rise in the future.
Although there is need to learn more about the processes involve in Bitcoin but the best way to learn is by investing and and consustently learning from the system on daily basis to gain more experience.

?

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Bitcoin investment is a very good investment and there's a lot of ways in which one can gain knowledge about Bitcoin investment however practical experience is a powerful way to gain knowledge about Bitcoin investment because it provides hands-on learning about Bitcoin investment which goes beyond theoretical understanding, for example when you buy, send, receive, or trade Bitcoin, you experience how the blockchain operates and witness concepts like transaction confirmations, fees, and wallet management, Bitcoin is highly volatile in nature and engaging in actual investments helps you understand price fluctuations, market sentiment, trading patterns and how dip in Bitcoin can help you accumulate more with less price.
Lastly engaging in the practical experience reveals how emotional factors like fear and greed influence investment decisions helping you develop discipline, patience and consistency towards Bitcoin investment.

No matter what you study about Bitcoin the only way you can gain better knowledge and be grounded in Bitcoin investment is by practical experience so start now.

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