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.
Topic: think before investing - page 2. (Read 907 times)
In a scenario when Bitcoin is around $100 and you sold one of your property to buy Bitcoin and hold it until now, can you consider it stupid?
>>No one can predict what the future will be? of a particular asset in it's early stage, if you don't know what will be going to happen in future then and sold your property then it's a very stupid move. selling property means 30%,40%,50% of you networth in very risky asset like bitcoin.Quote
It is possible that his friend recover his losses according to the made-up story, his friend told the scenario to @OP and @OP teaches him to trade Bitcoin properly and the friend is doing fine after the lessons.
>>how will anyone will recover his losses(about 30%/40%/50% of their networth) specially in bear market. and his friend obviously taught about how to buy bitcoin and hold it and how to sell, what is bitcoin, etc. Quote
The lady is not dumb, he asked you about Bitcoin meaning she is working her ass to ask someone whom she thinks is knowledgeable about Bitcoin and hoping for the chance that you teach her about what you know about Bitcoin. Who knows, the lady probably had researched about Bitcoin and wanted to learn extra knowledge by asking other people. He wouldn't be interested if he have not known other people earning money in Bitcoin investments.
>>the lady was obviously dumb (because i know full story what happened with me) she was asking me to how to make money with bitcoin, she just knew that bitcoin means extra free money which is not true. she told me she already given money to too many instagram influencer to make money by bitcoin, means she already spent so many time to find "bitcoin = free money". if she was not dumb instead smart or average person then she should gone on google or youtube and watched a video about bitcoin to learn. many lazy dumb people want easy money they don't want to learn anything after being scammed by fake influencers. you are just trying to show in little brain by seeing my rank because i was trying to tell in less words.
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.
I wonder how someone could do such a reckless thing. He is willing to sell his property to trade Bitcoin but has no understanding of crypto trading?.Your friend is completely complete in terms of carelessness. Don't have a goal, don't have a plan, can't think of a risk, then when he lose he regret it. How ironic if that's true.
Is he a gambling addict and is advised to try trading? His actions that do not think about the risks and origins in selling the property are like the behavior of someone who is addicted to gambling.
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'm not sure someone with that mindset will be successful in trading or investing. It's not that I'm underestimating, but from the start if your friend's mindset is like what you describe then it won't go well because changing someone's mindset is not an easy and fast thing. 
>> that was a very stupid move to sell property to invest in anything specially high volatility asset like bitcoin.
In a scenario when Bitcoin is around $100 and you sold one of your property to buy Bitcoin and hold it until now, can you consider it stupid?
>> After selling property and losing all no can be happy after just learning about bitcoin, i don't know how your friend is happy after losing his property and without recovering his losses.
It is possible that his friend recover his losses according to the made-up story, his friend told the scenario to @OP and @OP teaches him to trade Bitcoin properly and the friend is doing fine after the lessons.
>> Once an incident like this was happened to me a lady asked me on instagram how to make money by bitcoin, the lady was so dumb and lazy to learn about bitcoin... she just knew that "bitcoin=money" she just knew the name "bitcoin". and didn't know anything about bitcoin asking me how to make money with bitcoin.
The lady is not dumb, he asked you about Bitcoin meaning she is working her ass to ask someone whom she thinks is knowledgeable about Bitcoin and hoping for the chance that you teach her about what you know about Bitcoin. Who knows, the lady probably had researched about Bitcoin and wanted to learn extra knowledge by asking other people. He wouldn't be interested if he have not known other people earning money in Bitcoin investments.
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.
Op your story looks fabricated. How can someone buy bitcoin without having the basic knowledge of it. That is ridiculous. If someone heard that bitcoin can give profit and the first thing he can do is to enquire from others and not to sell properties and invest on something that you don't have knowledge in it. How can someone learn bitcoin after investing. That is opposite of the whole scenario. 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.
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.
I think you have neither read nor tried to understand his post properly. His friend has lost money by trading in Bitcoin, because his friend did not know much about Bitcoin. Wherever investment is made, the aim is to get good returns, but thorough knowledge and experience about it is very important. Anyone who buys Bitcoin does not intend to hold it forever, but rather sell it at a reasonable profit. Price is always fluctuating in cryptocurrency market, good entry in bear season and buying in bull season give us good profit. This is the best strategy for profit. It is a good stratagi to hold after buying Bitcoin but it is also very important to see where the entry is.
Investing does have risks. However, your friends can learn from their mistakes and think more carefully before investing. and knowledge is the most important thing before starting anything.
What do you mean by investing does not have risk?
Their is no investment in this life that entirely risk free, even Bitcoin is not risk free but to some extent it the risk is lesser compare to other form of investment (other crypto currency I mean) .
Knowing when to enter the market at the risk price, is a risk reduction, knowing how to safe keep your Bitcoin is also part of risk reduction, but when one don't know how to do all of this, then he might experience a greater risk why holding Bitcoin.
about on the things that must done or should really be for you to follow on. Thinking before investing? It is really just that common sense or something that you would normally be that doing because you cant really just that afford or make yourself that losing the money that you had put on. Its impossible that people would be making out such step without those consideration on which this is why it would really be just that normal that we would really be having that kind of action to be made. It is really just that depending on how someone would really be seeing this and act accordingly.
You cant just rushly make out some decisions without thinking because it would really be that prone to errors or mistakes on which it would really be resulting into a disaster. We dont really like to lose
money and this is why it s really just that right that we should really do our assignment and would really be that act accordingly or sensibly.
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.
I think you have neither read nor tried to understand his post properly. His friend has lost money by trading in Bitcoin, because his friend did not know much about Bitcoin. Wherever investment is made, the aim is to get good returns, but thorough knowledge and experience about it is very important. Anyone who buys Bitcoin does not intend to hold it forever, but rather sell it at a reasonable profit. Price is always fluctuating in cryptocurrency market, good entry in bear season and buying in bull season give us good profit. This is the best strategy for profit. It is a good stratagi to hold after buying Bitcoin but it is also very important to see where the entry is.
The main reason for losing money in the cryptocurrency space is a lack of knowledge, and most people don't care about it. If a person didn't have proper knowledge and wasn't aware of the basic concepts of cryptocurrency, it is certain that he would lose all of his money. Investing in Bitcoin is a very well-being idea, rather than job business, etc., but if you don't have knowledge about how market dynamics, manipulation, strategy, etc. work, it's awful to invest in it.
In my opinion, if we want to get involved in the cryptocurrency space, we will try to educate ourselves about it, which is what follows. but I will explain a few of them.
‣ Understand the basic concepts of cryptocurrency.
‣ Research about the previous and current uses of coins
‣ Market volatility, capitalization, dominance, and dynamic
‣ Only invest what you can afford.
In my opinion, if we want to get involved in the cryptocurrency space, we will try to educate ourselves about it, which is what follows. but I will explain a few of them.
‣ Understand the basic concepts of cryptocurrency.
‣ Research about the previous and current uses of coins
‣ Market volatility, capitalization, dominance, and dynamic
‣ Only invest what you can afford.
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.
I agree with you in the aspect of holding. There is a very high possibility of not losing a cent in holding his bitcoin, provided that they don't sell under panic below the actual purchasing price. But let us not forget that holding for a long period of time is also not risk-free, as there are things to be put in place before you can consider your holdings safe.
You need to at least make sure that your holdings are not under any third-party platform or any form of centralized system where you, as the user, don't have the key to the wallet. Another thing is looking for a well-secured wallet (hardware is preferable). and safe keep the key access to the wallet; if you lose access to it, there might be no chance of getting your funds out, and also avoid clicking on suspicious links in order for you not to get hacked and your wallet compromised.
Investing does have risks. However, your friends can learn from their mistakes and think more carefully before investing. and knowledge is the most important thing before starting anything.
What do you mean by investing does not have risk?
Their is no investment in this life that entirely risk free, even Bitcoin is not risk free but to some extent it the risk is lesser compare to other form of investment (other crypto currency I mean) .
Knowing when to enter the market at the risk price, is a risk reduction, knowing how to safe keep your Bitcoin is also part of risk reduction, but when one don't know how to do all of this, then he might experience a greater risk why holding Bitcoin.
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.
This is very hard to believe, it's like you made this up OP, I said this because how can someone who know nothing about crypto and Bitcoin investment knows how to operate a crypto exchange? 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.
Operating a crypto exchange is always a living hell for newbies, I had to watch YouTube videos before I can do trading on exchange.
You said he sold his properties for Bitcoin investment, how did he exchange his Fiat to Bitcoin if he didn't know how to trade? Your story is unclear.
Regarding how to exchange fiat into bitcoin, it's quite easy, because some exchanges today can make deposits through regional banks, so I think for cases like this it's quite easy, or you can find out via Google how to make a deposit on a particular exchange then how to exchange it for bitcoin , it's very easy to do, and maybe he just does something like this, but he doesn't find out how to get profit from investing in bitcoin.
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.
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.
This is very hard to believe, it's like you made this up OP, I said this because how can someone who know nothing about crypto and Bitcoin investment knows how to operate a crypto exchange? 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.
Operating a crypto exchange is always a living hell for newbies, I had to watch YouTube videos before I can do trading on exchange.
You said he sold his properties for Bitcoin investment, how did he exchange his Fiat to Bitcoin if he didn't know how to trade? Your story is unclear.
>> that was a very stupid move to sell property to invest in anything specially high volatility asset like bitcoin.
>> After selling property and losing all no can be happy after just learning about bitcoin, i don't know how your friend is happy after losing his property and without recovering his losses.
>> Once an incident like this was happened to me a lady asked me on instagram how to make money by bitcoin, the lady was so dumb and lazy to learn about bitcoin... she just knew that "bitcoin=money" she just knew the name "bitcoin". and didn't know anything about bitcoin asking me how to make money with bitcoin.
>> After selling property and losing all no can be happy after just learning about bitcoin, i don't know how your friend is happy after losing his property and without recovering his losses.
>> Once an incident like this was happened to me a lady asked me on instagram how to make money by bitcoin, the lady was so dumb and lazy to learn about bitcoin... she just knew that "bitcoin=money" she just knew the name "bitcoin". and didn't know anything about bitcoin asking me how to make money with bitcoin.
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.
Actually investing in bitcoin never loses or loses if you keep holding it and waiting for the new ATH later. But it can be a loss if your friend doesn't save the seed keyword properly, which if we forget we can't access the bitcoin wallet, apart from that I don't think there is anything to lose when investing in bitcoin.Yes, everything we want to do requires basic knowledge, because without knowledge everything we do will definitely not run smoothly, including investing in bitcoin. At least we have to know how to store bitcoin properly by using a good wallet and knowing the purpose of bitcoin being created, that way we know the fundamentals of bitcoin. If we all understand this, I don't think there will be any more losses like what your friend experienced.
I don't understand how your friend could do such a stupid thing. Anyone who has the least idea about Bitcoin depends on how or who they decide to invest in Bitcoin by selling their assets. People usually lose everything by making such mistakes. Your friend doesn't have the least idea about Bitcoin investment so why didn't he discuss it with you before taking such a big decision when you already have a good understanding of various aspects related to investment. Maybe your friend should have thought this much before investing in a job I don't know anything about. Even if you have enough knowledge about investing, you should never sell your assets or house to invest in Bitcoin. The amount of money should be invested so that loss of money does not hinder your future progress.
Perhaps OP's friend was too disappointed by the fact that it was not millions of money and assets but Bitcoin that was left for him. As much as I want to say that it was a stupid move, we cannot judge OP's friend as we are not aware if he/she has an any idea what Bitcoin is. Believe me or not there are people like that who exist, clueless about what Bitcoin is and the system. What we know is only what OP stated so let's not be too harsh. Granted we will not be doing the same, at least we are aware people like OP's friend exist. 
I don't understand how your friend could do such a stupid thing. Anyone who has the least idea about Bitcoin depends on how or who they decide to invest in Bitcoin by selling their assets. People usually lose everything by making such mistakes. Your friend doesn't have the least idea about Bitcoin investment so why didn't he discuss it with you before taking such a big decision when you already have a good understanding of various aspects related to investment. Maybe your friend should have thought this much before investing in a job I don't know anything about. Even if you have enough knowledge about investing, you should never sell your assets or house to invest in Bitcoin. The amount of money should be invested so that loss of money does not hinder your future progress.
Investing does have risks. However, your friends can learn from their mistakes and think more carefully before investing. and knowledge is the most important thing before starting anything.
yes, investing does have risks and in my opinion it's not just investments that are risky, of course any business is also very risky.
yes, indeed knowledge must be prioritized, in BTC investment, and any business because in any investment and business without knowledge it will be difficult to make a profit.
but to be honest I was happy when the op taught his friends how to invest properly and finally the op's friend succeeded.
Investing does have risks. However, your friends can learn from their mistakes and think more carefully before investing. and knowledge is the most important thing before starting anything.
What do you mean by investing does not have risk?
Their is no investment in this life that entirely risk free, even Bitcoin is not risk free but to some extent it the risk is lesser compare to other form of investment (other crypto currency I mean) .
Knowing when to enter the market at the risk price, is a risk reduction, knowing how to safe keep your Bitcoin is also part of risk reduction, but when one don't know how to do all of this, then he might experience a greater risk why holding Bitcoin.
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