Most individuals doing quite well in the space today were all self taught just trying to make you understand it isn't that hard to get the concept of what this new buzzing technology is all about. No doubt encouraging noobs to research before driving right in is necessary but they shouldn't spend all their time doing that before investing instead, get the concept of what bitcoin is about, invest and better your knowledge as you embark on the journey.
Experience comes with you actually participating so if you're not into the system (that's invested) then I don't see where you'll be getting the experience from. Sure you can read others story but it won't be anything like yours.
Topic: Research and Experience, There’s No Other Way! - page 3. (Read 641 times)
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it will take years of research and experience to master bitcoin.
Maybe or maybe not. Some here have mastered the basic knowledge everything about bitcoin, how it works, mechanism, and its used to different application. Learning bitcoin technology speed is depend on the user capability to grasp all there is to learn. Some here can understand, and execute anything coding on bitcoin easily especially those who have knowledge with related field. Im not totally techie guy, but somehow I understand and know how it works, and manage to execute some task like keeping my security when using off bitcoin wallets including altcoins too.
Also, even compiling from source codes you can do that even if you have no prior experience because there are a lot of tutorials that you can find here in the forum. And those actually are of big help to newbies in crypto. Maybe it would take years to grasp all the knowledge that you need but you can already learn a lot in a short period of time which you basically need to move forward with your goals in crypto.
Totally agree! When it comes to getting involved with bitcoin and cryptocurrencies, people should take the best path. A basic and safe knowledge.
Fortunately there is good reference information from this forum as the top of the exchange platforms that we know. This was my beginning in Bitcoin and cryptocurrencies, I am a self-taught person. I also do not believe in easy money, for which I have not fallen into some type of scam that we often see in our crypto space.
Fortunately there is good reference information from this forum as the top of the exchange platforms that we know. This was my beginning in Bitcoin and cryptocurrencies, I am a self-taught person. I also do not believe in easy money, for which I have not fallen into some type of scam that we often see in our crypto space.
I remember how I first got to know and learn Bitcoin.
I know this from someone who is arguably successful in this field (in my opinion). At that time I gained information regarding Bitcoin, supply, and other information on a basic basis. This includes how to get, buy, sell, treat it. Then introduced trading and investing. And furthermore, I tried to learn more on my own while being active in this Bitcointalk forum. So from this forum, I often read both from posts in threads and replies from members. Lots of information that I can get through this forum, it's easier than when I read through articles.
Learning Bitcoin and other cryptos must start from simple things first so that we don't feel confused, especially for those who are true beginners. And beginners, don't just focus on what we can get, however big we can get, but also focus on how to get it. whether as bounty hunters, investors, or traders, all have their own way.
I used to think that Bitcoin and the crypto world could make me rich faster. But as I studied the crypto world and kept up with it, my thinking was "totally wrong".
Don't just think about getting rich from crypto, because if we don't get rich quickly because of crypto, then we will easily give up.
And you are right, more research and experiences will mkae us better to know about the crypto world and the mechanism
I know this from someone who is arguably successful in this field (in my opinion). At that time I gained information regarding Bitcoin, supply, and other information on a basic basis. This includes how to get, buy, sell, treat it. Then introduced trading and investing. And furthermore, I tried to learn more on my own while being active in this Bitcointalk forum. So from this forum, I often read both from posts in threads and replies from members. Lots of information that I can get through this forum, it's easier than when I read through articles.
Learning Bitcoin and other cryptos must start from simple things first so that we don't feel confused, especially for those who are true beginners. And beginners, don't just focus on what we can get, however big we can get, but also focus on how to get it. whether as bounty hunters, investors, or traders, all have their own way.
I used to think that Bitcoin and the crypto world could make me rich faster. But as I studied the crypto world and kept up with it, my thinking was "totally wrong".
Don't just think about getting rich from crypto, because if we don't get rich quickly because of crypto, then we will easily give up.
And you are right, more research and experiences will mkae us better to know about the crypto world and the mechanism
I'm not sure that I agree.There is a basic level of knowledge required, but one does not have to have an in depth technical knowledge. Obviously one needs to know about wallet security, and have an overview of the blockchain and transactions and fees. After all. everybody uses the fiat system, but how many people understand the role and ownership of central banks, or fractional reserve banking, let alone SDRs and the various derivatives in use at the moment.
If you are able to find a good mentor then the learning curve might get shorter and you can learn quickly all the things required to be a successful investor. But if someone isn't willing to teach you then it can take a lot of time to understand the things and also you will do mistakes many times that can even make you loose money in the short term but if you look at the bigger picture then you can become very successful. Also, you should always remain up to date with the events happening in the world or else you won't make much than just some spare change.
To basically learn about the things you must know about Bitcoin, there is certainly a need to do a thorough and deep research to further educate yourself and to satisfy the inquiries you have in mind. Indeed there is no certain way to learn Bitcoin by doing the shortcut method but still it is a big help most specially for those people who are just wanting to have a clip of information to better understand what Bitcoin is really all about. The catch of knowing even the simplest version of learning about Bitcoin is already a big step to persuade certain individuals to get along on wanting to learn more about Bitcoin more deeply.
Research and experience are the essential things that will do educate you in this industry for not all researches might be applicable to you for you can do also learn something about Bitcoin itself based on the experience you have got in your journey discovering more about what Bitcoin is really about. Learning is a continuous process that we people is undergoing in our lives and researching and experience would be a great weapon to survive the entire journey of getting into Bitcoin most specially that technology is continuously evolving and that is where the whole cryptocurrency relies so learning won't stop for you will learn something more about.
Research and experience are the essential things that will do educate you in this industry for not all researches might be applicable to you for you can do also learn something about Bitcoin itself based on the experience you have got in your journey discovering more about what Bitcoin is really about. Learning is a continuous process that we people is undergoing in our lives and researching and experience would be a great weapon to survive the entire journey of getting into Bitcoin most specially that technology is continuously evolving and that is where the whole cryptocurrency relies so learning won't stop for you will learn something more about.
To acquire knowledge and skills about bitcoin, researching, studying, and experiencing would really teach you on how to trade, gamble, hold, sell, and perform various tasks.
One must be determined to learn and master bitcoin. You can’t learn everything all at once. It would take some time to understand the basics, fundamentals, and especially the complex parts of cryptocurrency world. It’s like having to study for a subject or a degree. You need to devote your time researching for the things you want to know more about because learning is a continuous process. The speed of grasping all the ideas and concepts varies from one person to another, since we don’t have the same ability and capabilities to digest information. But definitely, perseverance is needed.
Aside from research, experience is your best friend for you to fully have the grip of how cryptocurrency works. Like what they said, “experience is the best teacher”. The learnings you gained from researching must be applied in real life. You have to experience it first-hand. Execute all the lessons, strategies, and techniques you’ve read from an article, website, or books. That way, you’ll know what would be the outcome if you do a certain thing. It’s a trial and error. A process.
I think it’s also important for you to have a mentor that would teach you and guide you along the way. Experience may be the best teacher, but having a mentor that can lead you, tell you the do’s and don’ts, and prevent you from making big mistakes will be a big help for you as well.
One must be determined to learn and master bitcoin. You can’t learn everything all at once. It would take some time to understand the basics, fundamentals, and especially the complex parts of cryptocurrency world. It’s like having to study for a subject or a degree. You need to devote your time researching for the things you want to know more about because learning is a continuous process. The speed of grasping all the ideas and concepts varies from one person to another, since we don’t have the same ability and capabilities to digest information. But definitely, perseverance is needed.
Aside from research, experience is your best friend for you to fully have the grip of how cryptocurrency works. Like what they said, “experience is the best teacher”. The learnings you gained from researching must be applied in real life. You have to experience it first-hand. Execute all the lessons, strategies, and techniques you’ve read from an article, website, or books. That way, you’ll know what would be the outcome if you do a certain thing. It’s a trial and error. A process.
I think it’s also important for you to have a mentor that would teach you and guide you along the way. Experience may be the best teacher, but having a mentor that can lead you, tell you the do’s and don’ts, and prevent you from making big mistakes will be a big help for you as well.
Research and learning is the best way to make sure what we own is correct. Traders are always trying to explain value based on the chart pattern, but what makes a cryptocurrency so valuable is the technology within it and what it does. Take a look at the top 20 cryptocurrencies. They are interchanged every year, but the technology it offers is amazing and useful. If we are wise enough, we can choose the most potential cryptocurrencies that have long-term value in the future.
Absolutely. There's no other way to approach life itself than research and experiences, so this is not only applicable to Bitcoin. All stated points on OP are true because Bitcoin is a new technology that needs more information to understand and those with the understanding must exercise their experience to get things done right. Learning new things everyday can only help us gain experience in order to manage our problems.
For anyone to succeed in cryptocurrency industry s/he must imbibe the spirit of research and experience, hence futility in play. Profits can only flow into the hands that had the needed research and experience, so, learn everyday to have the experience.
For anyone to succeed in cryptocurrency industry s/he must imbibe the spirit of research and experience, hence futility in play. Profits can only flow into the hands that had the needed research and experience, so, learn everyday to have the experience.
You don’t have to learn every single detail about bitcoin in order to keep yourself safe from hacks and other things that might result to you losing your coins.
I personally have quite a programming background since I use it on my work, but it’s far from the algorithms laid out on bitcoin so I don’t see that skill as an advantage, but it helps. I never learned the intricacies of trading and chart-reading, but I made quite a profit in bitcoin over the years of my stay here.
The thing is, one doesn’t need to overload their minds on information. They just have to use it wisely and just pick up the things that they think they will be needing and just expand the learnings later when the need arises.
IMO you don’t have to be a genius in order to create and receive a transaction, and make a profit. You just have to learn the basics THEN you can expand from there. The points in the OP is good, and should be noted by newbies who are seeking for immediate gratification on their efforts in using bitcoin.
Agree, Its not necessery to be a genius to make profit out of BTC, even the dumb like me I personally have quite a programming background since I use it on my work, but it’s far from the algorithms laid out on bitcoin so I don’t see that skill as an advantage, but it helps. I never learned the intricacies of trading and chart-reading, but I made quite a profit in bitcoin over the years of my stay here.
The thing is, one doesn’t need to overload their minds on information. They just have to use it wisely and just pick up the things that they think they will be needing and just expand the learnings later when the need arises.
IMO you don’t have to be a genius in order to create and receive a transaction, and make a profit. You just have to learn the basics THEN you can expand from there. The points in the OP is good, and should be noted by newbies who are seeking for immediate gratification on their efforts in using bitcoin.
who only know to HODL BTC, can makes profits effortlessly out of it. 
You don’t have to learn every single detail about bitcoin in order to keep yourself safe from hacks and other things that might result to you losing your coins.
I personally have quite a programming background since I use it on my work, but it’s far from the algorithms laid out on bitcoin so I don’t see that skill as an advantage, but it helps. I never learned the intricacies of trading and chart-reading, but I made quite a profit in bitcoin over the years of my stay here.
The thing is, one doesn’t need to overload their minds on information. They just have to use it wisely and just pick up the things that they think they will be needing and just expand the learnings later when the need arises.
IMO you don’t have to be a genius in order to create and receive a transaction, and make a profit. You just have to learn the basics THEN you can expand from there. The points in the OP is good, and should be noted by newbies who are seeking for immediate gratification on their efforts in using bitcoin.
I personally have quite a programming background since I use it on my work, but it’s far from the algorithms laid out on bitcoin so I don’t see that skill as an advantage, but it helps. I never learned the intricacies of trading and chart-reading, but I made quite a profit in bitcoin over the years of my stay here.
The thing is, one doesn’t need to overload their minds on information. They just have to use it wisely and just pick up the things that they think they will be needing and just expand the learnings later when the need arises.
IMO you don’t have to be a genius in order to create and receive a transaction, and make a profit. You just have to learn the basics THEN you can expand from there. The points in the OP is good, and should be noted by newbies who are seeking for immediate gratification on their efforts in using bitcoin.
Experience and knowledge are the best thing that we could have in order to be successful.
In all spheres , I believe that being successful knowledge is key because it is about information you have to apply and with time on it, experience is gained. This is what the newbies are facing in bitcoin today. They are more confused, reading on the forum help.
I read a post the other day asking for tips on how to learn bitcoin without going through the technical stuff (so they can start making profit sooner) and another one looking for a quick way to teach old people how bitcoin works. Here’s what I learned after months of observation and heavy reading on cryptocurrency inside and outside this forum.
There are NO SHORTCUTS to understanding bitcoin. You’ll find crash courses and simplified versions of the technical aspects of bitcoin but those are just to help make complex information more digestible WHEN YOU GO OVER IT AGAIN, not to help you skip certain parts. Yes, you’ll eventually realize that it’s best to re-read the stuff you refused to read the first time (when you thought it’s too much for you). With so many risks involved in cryptocurrency, you would want to know as much information about what you’re getting yourself into as you can. So, taking a shortcut is out of the question.
Think of cryptocurrency as a branch of science, because it’s as big as one. It’s not like a Netflix series that you can binge-watch in one go. Rather, it’s like the entire entertainment industry. Like a college course that takes many years to finish, it will take years of research and experience to master bitcoin. Also, research doesn’t stop as cryptocurrency is constantly evolving. Some of the things you will learn today may no longer apply tomorrow, so continuous study must be part of your daily routine.
Regarding profit, there certainly are various ways to grow wealth through bitcoin. You can invest, trade, gamble, perform tasks, write content, and many more, at least in this platform. But let’s not forget that the primary purpose of bitcoin introduction and adoption is to decentralize the financial system. More than just another income generator, it’s a campaign with a goal. Let’s find a way to contribute to that campaign. I also have a mentor btw so connecting with people who share your interest is also important.
People can use the microwave oven successfully without understanding how it really works. Same goes for Bitcoin. One doesn't need to know much about it to start using it. The only really important thing to learn is all about what's needed to ensure bitcoins are safe. And how to use a wallet, of course. But other things won't be needed. At the same time, this is enough to use Bitcoin, not to profit from it. But I don't understand what you mean by profiting. One can earn BTC for doing some job that requires skills which don't have much to do with Bitcoin. Or one can try trading, but this, if even possible on a regular basis, requires knowledge about trading rather than about how blockchain works. If one wants to earn money from writing about cryptocurrencies, crypto projects or by actually being a blockchain developer, then of course the experience and deep understanding is important. There are NO SHORTCUTS to understanding bitcoin. You’ll find crash courses and simplified versions of the technical aspects of bitcoin but those are just to help make complex information more digestible WHEN YOU GO OVER IT AGAIN, not to help you skip certain parts. Yes, you’ll eventually realize that it’s best to re-read the stuff you refused to read the first time (when you thought it’s too much for you). With so many risks involved in cryptocurrency, you would want to know as much information about what you’re getting yourself into as you can. So, taking a shortcut is out of the question.
Think of cryptocurrency as a branch of science, because it’s as big as one. It’s not like a Netflix series that you can binge-watch in one go. Rather, it’s like the entire entertainment industry. Like a college course that takes many years to finish, it will take years of research and experience to master bitcoin. Also, research doesn’t stop as cryptocurrency is constantly evolving. Some of the things you will learn today may no longer apply tomorrow, so continuous study must be part of your daily routine.
Regarding profit, there certainly are various ways to grow wealth through bitcoin. You can invest, trade, gamble, perform tasks, write content, and many more, at least in this platform. But let’s not forget that the primary purpose of bitcoin introduction and adoption is to decentralize the financial system. More than just another income generator, it’s a campaign with a goal. Let’s find a way to contribute to that campaign. I also have a mentor btw so connecting with people who share your interest is also important.
Experience and researching are the best way that you shouldn't use a shortcut or else you'll miss some knowledge that is needed for us to earn in the bitcoin world. Nowadays, the one who skipped the knowledge and want a shortcut way always take a big risk and didn't know what they've entered an investment scheme. Many people in our country once they hear a profiting investment they'll always join and didn't think twice.
This is all pretty good advice. As an investment advisor by trade I'm always very leery of any sort of "financial product", especially some "magic internet money". Although I certainly don't advise it for the non-coder/ super technical type, I bought Andreas' Mastering Bitcoin book and read others such as digital gold before I ever purchased bitcoin. I spent a lot of time reading and watching educational videos ( many by Andreas ), and only then did I understand bitcoin. This isn't an overnight kind of thing if you're looking to "invest". Which bitcoin is way more than that.
The reason why people always ask an individual to do their own research is that no one want to be blamed for the mistakes you made. Anyone who is not ready to learn and relearn should not bother to invest in bitcoin. crypto is evolving and you can hardly predict what will happen to bitcoin in the next few hours not to talk of days, months, and years to come. Trading crypto involve patients, perseverance and being meticulous
Before learning or studying something, one should have a goal. If he's into investing into it, then he should read articles about Bitcoin investments. What I am trying to point out is that, if a person is really in a rush then he should have specificity of what he wants to do. There's no need to know about other cryptos and other complex terminologies if he is just into Bitcoin investment. Then if he would be seeking for more, that would be the time to look around this industry. There is indeed no shortcut on learning something but a more efficient way which would still yield you to your goal is acceptable.
I read a post the other day asking for tips on how to learn bitcoin without going through the technical stuff (so they can start making profit sooner) and another one looking for a quick way to teach old people how bitcoin works. Here’s what I learned after months of observation and heavy reading on cryptocurrency inside and outside this forum.
I think this fits right in the Beginners and Help board as it contains mostly on what a beginner's mindset should be.
With regards to the topic, I think even anyone already know that the fundamentals of learning is simply by research and experience. So what's the point or purpose of making this thread afterall? There are a lot of threads that contain the same idea and there's no point making another one. Have you browsed the whole Beginners and Help board?
But then again, some people are already capable of learning not by research and experience, but rather reading on it alone. Yes, there are talented people that are born with great aptitude. And research doesn't mean to be a lot of activities done, a simple book or a simple article could even explain everything about Bitcoin.
I agree with all of you. Basics can be easily understood but to have knowledge would mean deep understanding. And we may be all enthusiasts for a long time but learning from all our experiences will never end as experience is different from time to time. With that being said, if you really want it, you must be determined in learning.
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