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Hypnosis00

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Quote from: Cryptmuster on August 26, 2023, 03:29:32 AM

Quote from: Crypto Library on August 25, 2023, 09:57:45 AM

Investing in cryptocurrencies is risky but it is even more risky when one invests in an altcoin. If your friend jumps into an altcoin without having a good knowledge of crypto-currencies, he might have a big loss, but since he jumped into Bitcoin, it's risky for him and won't hurt him too much. So now you should explain to him that if he wants to get something good from bitcoin he has to keep it for a long time, if he sees some losses here he can't panic and sell them, he has to hold them strongly and if he can hold for a long time he can get a good profit from here. And since he is very interested in Bitcoin, he can invest in Bitcoin by following DCA . And of course he needs to use a secure wallet to hold his bitcoins.

Not all altcoins are equally bad, there are some that are much more volatile than bitcoin, and the project is doing very well, entering into new partnerships and constantly developing, and I believe that such altcoins can give significantly better returns than bitcoin. But at the same time, I will invest less in altcoins than I invest in bitcoin, because altcoins will always contain more risks than bitcoin. Safe storage is also very important and the first thing to do.

It is important that we know what we are doing and must know what coins we are about to invest with. Although investing in altcoins is too risky but somehow, being an investor doesn't just consider buying a single coin as it is best to have another one or more. I have Bitcoin which I spend 60% of my total capital while 40% on altcoins, I believe this is a great idea (IMO). I have BTC, ETH, and BNB - I think it is all enough for me.

Lorence.xD

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Quote from: cheezcarls on August 26, 2023, 06:50:37 AM

Quote from: Smartgoat on August 08, 2023, 05:53:36 PM

I became more interesting on this topic when my friend hard about the profit on trading and investing on bitcoins.without the ideas or knowledge about it. because he only hard that, there are high profit on investing on Bitcoin. without knowing how Bitcoin is been trade. he went and sold his property to invest on Bitcoin without been knowledgeable about it. he went ahead and invest but loss everything because he doesn't know how to trade Bitcoin.

He came and told me everything. i feel pity on him, and started teaching him how Bitcoin is been trade and invest. He was very serious to lean and now his happy and his doing very well. in every business or investment you are in backing on, I think you need to lean and be knowledgeable about it before you invest on it.

I am not sure if I would believe in your story that he sold his property just for Bitcoin. Can be a made-up story.

But regardless if it’s true or not, it is better to educate about the risks first and how to manage them. This is much better to prioritize before investing in some certain coins in the crypto market these days.

Ain’t a good idea to go all-in by surrendering your entire property in exchange of Bitcoin.

There's literally a case like that where he sold his property just to invest it in Bitcoin. There's a lot of FOMO causes people to do this kind of thing, some actually take a loan just to invest which is also very risky. But yeah made up or not but if there's people out there trying to do the same thing, then it's not advisable due to there's no guarantee you'll profit in Bitcoin causes its pretty volatile. If you'd invest with the money you've used is from sold properties or from taking a loan. For sure they won't planning to hodl Bitcoin for a long time and they are expecting a quick return just to get ROI fast or pay the debt. No knowledge is like putting your money at the garbage waiting for it to profit, if you have a lot of spare money it's a good thing to invest t but without knowledge it would be a waste.

cheezcarls

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Quote from: Smartgoat on August 08, 2023, 05:53:36 PM

I became more interesting on this topic when my friend hard about the profit on trading and investing on bitcoins.without the ideas or knowledge about it. because he only hard that, there are high profit on investing on Bitcoin. without knowing how Bitcoin is been trade. he went and sold his property to invest on Bitcoin without been knowledgeable about it. he went ahead and invest but loss everything because he doesn't know how to trade Bitcoin.

He came and told me everything. i feel pity on him, and started teaching him how Bitcoin is been trade and invest. He was very serious to lean and now his happy and his doing very well. in every business or investment you are in backing on, I think you need to lean and be knowledgeable about it before you invest on it.

I am not sure if I would believe in your story that he sold his property just for Bitcoin. Can be a made-up story.

But regardless if it’s true or not, it is better to educate about the risks first and how to manage them. This is much better to prioritize before investing in some certain coins in the crypto market these days.

Ain’t a good idea to go all-in by surrendering your entire property in exchange of Bitcoin.

Cryptmuster

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Quote from: Crypto Library on August 25, 2023, 09:57:45 AM

Investing in cryptocurrencies is risky but it is even more risky when one invests in an altcoin. If your friend jumps into an altcoin without having a good knowledge of crypto-currencies, he might have a big loss, but since he jumped into Bitcoin, it's risky for him and won't hurt him too much. So now you should explain to him that if he wants to get something good from bitcoin he has to keep it for a long time, if he sees some losses here he can't panic and sell them, he has to hold them strongly and if he can hold for a long time he can get a good profit from here. And since he is very interested in Bitcoin, he can invest in Bitcoin by following DCA . And of course he needs to use a secure wallet to hold his bitcoins.

Not all altcoins are equally bad, there are some that are much more volatile than bitcoin, and the project is doing very well, entering into new partnerships and constantly developing, and I believe that such altcoins can give significantly better returns than bitcoin. But at the same time, I will invest less in altcoins than I invest in bitcoin, because altcoins will always contain more risks than bitcoin. Safe storage is also very important and the first thing to do.

Blitzboy

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Quote from: irhact on August 25, 2023, 06:56:25 PM

Quote from: Ricardo11 on August 25, 2023, 09:41:12 AM

Of course, investing without knowledge will only lead to losses. His biggest mistake was selling his house and investing in Bitcoin without knowing about Bitcoin investing. Because investment never guarantees 100% profit. Moreover, the Bitcoin market is very volatile and there is a high chance of loss if you invest here without doing a good research. We must invest with good research and adequate knowledge before investing, otherwise we will lose our money

Selling your house to invest in Bitcoin is wrong and I can't advice any individual to do that because bitcoin investing is very unstable as the market can go against you anytime and if you sold your house that means you're houseless and when you don't have the patience to hold through the bear market, you can lose you investment and also lose your house which will make you homeless and not everyone can recover from such situations of homelessness.

Before investing in Bitcoin, you have to make sure that the money that you're using to invest won't cause you discomfort if the market moves against you that's why it's advisable to use your spare money to invest so you won't be panicking when the market starts dipping.

Consider the beginning of agriculture. The adventurous people transitioned from hunting and gathering to farming, while the skeptics persisted. Did they have a guarantee that the crops will flourish? Nope! Am I equating Bitcoin with the agricultural revolution at this point? Kind of, but not quite.

I mean, the main points here are about accepting change and being aware of risk. You're offering your home for Bitcoin? Unsane, yes? Its like giving up all your tents and spears in exchange for some seeds and crossing your fingers. Blockchain, Bitcoin, and the underlying idea, however, stand for more than just a few digital currencies. They are the forerunners of a new age in value perception in people.

But listen up: Dont go all in in anything (or, in more contemporary parlance, your house). Make good investments, be ready for turbulence, and always keep a few spears on hand!

irhact

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Quote from: Ricardo11 on August 25, 2023, 09:41:12 AM

Of course, investing without knowledge will only lead to losses. His biggest mistake was selling his house and investing in Bitcoin without knowing about Bitcoin investing. Because investment never guarantees 100% profit. Moreover, the Bitcoin market is very volatile and there is a high chance of loss if you invest here without doing a good research. We must invest with good research and adequate knowledge before investing, otherwise we will lose our money

Selling your house to invest in Bitcoin is wrong and I can't advice any individual to do that because bitcoin investing is very unstable as the market can go against you anytime and if you sold your house that means you're houseless and when you don't have the patience to hold through the bear market, you can lose you investment and also lose your house which will make you homeless and not everyone can recover from such situations of homelessness.

Before investing in Bitcoin, you have to make sure that the money that you're using to invest won't cause you discomfort if the market moves against you that's why it's advisable to use your spare money to invest so you won't be panicking when the market starts dipping.

JoyMarsha

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Quote from: Smartgoat on August 08, 2023, 05:53:36 PM

He came and told me everything. i feel pity on him, and started teaching him how Bitcoin is been trade and invest. He was very serious to lean and now his happy and his doing very well. in every business or investment you are in backing on, I think you need to lean and be knowledgeable about it before you invest on it.

For your friend to be happy and doing well, that means you taught him how to actually trade not investing in bitcoin for long term. If really you taught him how to invest in bitcoin, he would have only invested in bitcoin for long term and kept it in his portfolio until the bull run starts. He would have been complaining as the price of bitcoin fluctuates in price regularly.

When your friend would have been happy is when the amount he invested in bitcoin has yielded enough profits for him. To my understanding, this is what I think you did, that made your friend happy(introducing him to bitcoin trading, not investment).

Having said that, it's lovely to hear that your friend is happy and has learned how to trade through your directions, which sounds good. Inasmuch of that you can also teach him the DCA method of how to make money now the market is not stable

dlightag

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That's the major problem most people normally face, when it comes for money make profits business, without having the full knowledge about the business they are jumping into being to margins profits return in trading without strategy or analysis the market before taken position and get liquidate, and now looking for knowledge on how to trade Bitcoin after Lost. Well that's part of learning and make corrections by starting afresh to trade and make profits in Bitcoin is sure, the entry point and exit is very important in cryptocurrency trading.

KiaKia

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With the way things are happening around the world right now, I believe its most risky to be out of Bitcoin investment, but people tend to care too much about what will happen to their money, there are loads of people in this world that don't want to lose a penny of their money all in the name of investing, when you talk about it you got shut down immediately, how will such people become rich or wealthy? They aren't ready to take risks and they forget that not taking risks have it's negative side too.

The fault from your friends side is not understanding crypto and exchanges very well, selling is property to invest is not a bad idea but he is short of knowledge about how to operate a crypto exchange properly, it's very delicate around crypto and people need to be very careful when interacting with transactions, wallets, and exchanges, he chooses to take the risks and he is been tasked for his lack of knowledge, he has learned I believe.

AnonBitCoiner

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Quote from: wmaurik on August 25, 2023, 10:09:23 AM

We don't know what level of knowledge other people have or someone who has the courage to make the decision to invest in Bitcoin, because maybe he already knows a lot about Bitcoin so he doesn't hesitate to make decisions on his investment. And as for the matter of selling a house for the sake of making an investment, it shouldn't be considered wrong for someone because maybe he did that because no one lived or lived in the house.

While he may live in a luxury apartment with his family, things like this also have to be researched well enough so that you don't immediately assume the wrong decision is made by someone else. Even though it would be wrong and bad for a person who has only one house to live in, it is not bad for someone who has two or three houses in his life.

Exactly this can happen and we should not say about anyone that he is wrong or right but we can share our ideas which can help everyone in future.

Everyone can take better decisions for himself as everyone has brilliant and sharp mind and as he now learned about bitcoin so may be there comes a time when he recover this amount of house which he sold.

Because if this mistake he become serious to get knowledge so this mistake also played a big role in making him realizes how to earn money and how much important is knowledge prior to Initiation.

Compromise me

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Quote from: Smartgoat on August 08, 2023, 05:53:36 PM

I became more interesting on this topic when my friend hard about the profit on trading and investing on bitcoins.without the ideas or knowledge about it. because he only hard that, there are high profit on investing on Bitcoin. without knowing how Bitcoin is been trade. he went and sold his property to invest on Bitcoin without been knowledgeable about it. he went ahead and invest but loss everything because he doesn't know how to trade Bitcoin.

In every business ,one should get knowledge about it. Famous quotes is "Knowledge is power", through this power we can conquer any skill about business.Thousands of businesses fail due to unqualified person.When a person thinks that he knows everything ,he is in ignorance.In Bitcoin investment , knowledge is very important,be a shodow of person who is doing well in this business,and after 2 to three years of experience ,one can get success in Bitcoin investment.
In every investment business,not invest all money in one platform .One should understand profit and risk about investment ,before invest a little money ,if you get high profit then increase your investment.

eightdots

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Quote from: wmaurik on August 25, 2023, 10:09:23 AM

Quote from: Ricardo11 on August 25, 2023, 09:41:12 AM

Of course, investing without knowledge will only lead to losses. His biggest mistake was selling his house and investing in Bitcoin without knowing about Bitcoin investing. Because investment never guarantees 100% profit. Moreover, the Bitcoin market is very volatile and there is a high chance of loss if you invest here without doing a good research. We must invest with good research and adequate knowledge before investing, otherwise we will lose our money

We don't know what level of knowledge other people have or someone who has the courage to make the decision to invest in Bitcoin, because maybe he already knows a lot about Bitcoin so he doesn't hesitate to make decisions on his investment. And as for the matter of selling a house for the sake of making an investment, it shouldn't be considered wrong for someone because maybe he did that because no one lived or lived in the house.

While he may live in a luxury apartment with his family, things like this also have to be researched well enough so that you don't immediately assume the wrong decision is made by someone else. Even though it would be wrong and bad for a person who has only one house to live in, it is not bad for someone who has two or three houses in his life.

Selling property and investing is a wrong choice if you do not have enough knowledge and patience. As you said, if he has more than one house, he probably has a high income. Instead of selling and investing in a property, it may make more sense to regularly invest some of your income. I would do it this way if it were me. In this way, I would not lose my property because the market has risks, and I would have made my investment by allocating a certain amount.

Some people decide this way because they want to make a lot of profit. I'm not saying that these decisions are wrong, but I want them to know that there are always risks in the market.

wmaurik

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Quote from: Ricardo11 on August 25, 2023, 09:41:12 AM

Of course, investing without knowledge will only lead to losses. His biggest mistake was selling his house and investing in Bitcoin without knowing about Bitcoin investing. Because investment never guarantees 100% profit. Moreover, the Bitcoin market is very volatile and there is a high chance of loss if you invest here without doing a good research. We must invest with good research and adequate knowledge before investing, otherwise we will lose our money

We don't know what level of knowledge other people have or someone who has the courage to make the decision to invest in Bitcoin, because maybe he already knows a lot about Bitcoin so he doesn't hesitate to make decisions on his investment. And as for the matter of selling a house for the sake of making an investment, it shouldn't be considered wrong for someone because maybe he did that because no one lived or lived in the house.

While he may live in a luxury apartment with his family, things like this also have to be researched well enough so that you don't immediately assume the wrong decision is made by someone else. Even though it would be wrong and bad for a person who has only one house to live in, it is not bad for someone who has two or three houses in his life.

Crypto Library

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Quote from: Smartgoat on August 08, 2023, 05:53:36 PM

I became more interesting on this topic when my friend hard about the profit on trading and investing on bitcoins.without the ideas or knowledge about it. because he only hard that, there are high profit on investing on Bitcoin. without knowing how Bitcoin is been trade. he went and sold his property to invest on Bitcoin without been knowledgeable about it. he went ahead and invest but loss everything because he doesn't know how to trade Bitcoin.

He came and told me everything. i feel pity on him, and started teaching him how Bitcoin is been trade and invest. He was very serious to lean and now his happy and his doing very well. in every business or investment you are in backing on, I think you need to lean and be knowledgeable about it before you invest on it.

Investing in cryptocurrencies is risky but it is even more risky when one invests in an altcoin. If your friend jumps into an altcoin without having a good knowledge of crypto-currencies, he might have a big loss, but since he jumped into Bitcoin, it's risky for him and won't hurt him too much. So now you should explain to him that if he wants to get something good from bitcoin he has to keep it for a long time, if he sees some losses here he can't panic and sell them, he has to hold them strongly and if he can hold for a long time he can get a good profit from here. And since he is very interested in Bitcoin, he can invest in Bitcoin by following DCA . And of course he needs to use a secure wallet to hold his bitcoins.

Ricardo11

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Of course, investing without knowledge will only lead to losses. His biggest mistake was selling his house and investing in Bitcoin without knowing about Bitcoin investing. Because investment never guarantees 100% profit. Moreover, the Bitcoin market is very volatile and there is a high chance of loss if you invest here without doing a good research. We must invest with good research and adequate knowledge before investing, otherwise we will lose our money

Oilacris

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Quote from: Xampeuu on August 14, 2023, 01:05:25 AM

Quote from: stepwilli on August 14, 2023, 12:51:41 AM

The very first wrong decision he took was to sell his house to invest the money in Bitcoin which is never recommended option no matter how much potential Bitcoin has. One has to only invest what they have as spare money into things like cryptocurrencies because there is basically no guarantee as to when you might get something on top of it or even get your actual money back since the market is extremely volatile and unpredictable as well which makes it difficult for everyone.

And then he invested or traded the money in the market without gaining any knowledge beforehand which is basically the recipe for disaster for a newbie. You cannot gain profits from the cryptocurrency market if you don't even know how the market works and how you can do all the things.

bitcoin trading becomes very dangerous for those who lack knowledge, but sometimes we feel like we want to act immediately, so we don't miss the moment. therefore the things that need to be considered in outline are bitcoin being the main choice in investing, and patiently holding it until a bull run occurs, I think if beginners even though they have little knowledge of practicing it will be safe. the problem is that people tend to get dazzled by new projects that can pump up thousands of percent

Not only limited on Bitcoin trading but also in other market as well on which investing is never been that simple or risk-free, there's always that risk of losing money.Therefore, you should really be needing

to plan and make that analysis before you do proceed because if not then you would really be finding yourself on huge trouble or headache on the time that you would be finding out that you are really that taking some reckless steps on which would be causing for you to have losing funds or investment.This is why we should really be that wise and be mindful on every step that we would make.
We are all starting on being a newbie which is really that casual or something that really in default.We cant really just make things that goes on what we do have in our mind, everything
would really be a challenge specially if we are dealing with the market on having that extreme volatility.

AGogi2003

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My perspective and understanding of Bitcoin is that you should learn about it before investing or trading because it is volatile and the price can change at any time. If you are new to cryptocurrency, you should invest rather than trade. Because of the possibility of resuming losses, it is not suggested to sell your property and invest in Bitcoin. It is preferable to have a source of income so that if the market does not perform well, you will not suffer as much. It is preferable to invest just what you can afford to lose. Based on my limited research and knowledge of Bitcoin, I believe that an investment such as Bitcoin is the most reliable.

Mr.suevie

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Quote from: NomadTheSavior on August 13, 2023, 09:57:45 AM

Like others said he lost his money trading not investing in Bitcoin. If he just bought and held he would do very well as long as he holds it for a good amount of time. Better yet hold it forever because soon things will be more commonly bought in crypto instead of fiat.

It's much easier said than done, investing in Bitcoin requires strategy and planning if not you might end up just selling all your coins due to various factors like fear of dip and satisfaction of daily needs that's if you don't have others means of getting income and I said this because most people just believe that having a Bitcoin investment secures your financial life.

MFahad

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Quote from: Bazzu on August 12, 2023, 10:31:03 PM

in investing, we really have to prioritize knowledge first, of course, so that there is no potential for greater losses, but in my opinion, sometimes experience makes a person more mature and learns from experience, like what op friends do in the end he can become a good investor and of course because in guided by op
finally op's friends know how to invest properly.

This is also true because mistakes are for learning and we will be able to avoid mistakes if instead of becoming worried we learn from it. His friend learn well and I hope he will getting good profit but make the foundation of house again is something hard and will takes time.

So it is necessary for us to initially not involved in such activities which become risk for us instead of achievement. If the friend of OP was able to think that selling house is not a good option as it is for our living so without decision of selling house he could also learn but people don't think and make wrong decisions blindly which is a big cause of failure.

Xampeuu

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Quote from: stepwilli on August 14, 2023, 12:51:41 AM

The very first wrong decision he took was to sell his house to invest the money in Bitcoin which is never recommended option no matter how much potential Bitcoin has. One has to only invest what they have as spare money into things like cryptocurrencies because there is basically no guarantee as to when you might get something on top of it or even get your actual money back since the market is extremely volatile and unpredictable as well which makes it difficult for everyone.

And then he invested or traded the money in the market without gaining any knowledge beforehand which is basically the recipe for disaster for a newbie. You cannot gain profits from the cryptocurrency market if you don't even know how the market works and how you can do all the things.

bitcoin trading becomes very dangerous for those who lack knowledge, but sometimes we feel like we want to act immediately, so we don't miss the moment. therefore the things that need to be considered in outline are bitcoin being the main choice in investing, and patiently holding it until a bull run occurs, I think if beginners even though they have little knowledge of practicing it will be safe. the problem is that people tend to get dazzled by new projects that can pump up thousands of percent

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