think before investing - page 4. | Bitcointalksearch.org

Kelvinid

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Quote from: AicecreaME on August 11, 2023, 05:33:45 AM

Trading and hodling Bitcoin is entirely different.

Trading is risky, so I will agree to you that your friend must prepared himself well before engaging in trading, since it is not easy as it sounds. It requires a lot of knowledge about price chart prediction and how to read them to be able to make a technical analysis. Hodling on the other hand just requires time, and a lot of patient, because it's a game of waiting after buying in the deep.

Perhaps, it was necessary in order to earn, or else, we can be like those thousand investors who only just spend their money and gone after a short while due to the wrong investment. And in order to avoid this, we must have to invest time in studying the market behavior and how it works as we can't just underestimate the volatility of the market and it was advantageous on our side if we have an idea of how to play with it. We don't have to take it easy but rather be focused on our goal and most of all, if we wanted to succeed must also trust ourselves.

yudi09

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

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 sold all his properties and invested in bitcoins. Because he didn't know how to invest in bitcoins he lost everything.
Is it possible for someone to invest without having any knowledge, even though there are such types of people but the numbers can be counted on the fingers.
As long as your friend buys bitcoin and the amount is not intact, then the bitcoin will not be lost, unless he sells it shortly after the purchase is made. The exception that I said is trading activity.

The two types that you convey, the first is investment. Both trade.
What is the actual condition that your friend did that you want to tell.
Investing is different from trading.

Inwestour

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Quote from: Marvell1 on August 11, 2023, 05:13:15 AM

If OP's friend had shared that before he sold the property, it wouldn't have turned out this bad. But I doubt newbies won't listen to anyone's advice because they're stubborn and always think they're right. Newbies only accept our advice when they stumble and lose, only then will they learn to listen. Although, OP's friend lost all his assets, but in exchange, he learned a valuable lesson. I believe that if he listens to the OP and tries to learn from scratch, he can one day regain what was lost. As long as we don't give up and keep trying, nothing is impossible.

If a person sold his property to start trading and ended up losing everything, then how can he start all over again if he has no money left to trade. This is a very difficult case and it may take a long time before he can trade again.

The mistake was that he started trading without proper knowledge, it would be more sense if he bought bitcoin for the long term, this would significantly increase his chances of success. Maybe in a year or two a bull market will come and we will see a good growth of the entire market, but whether before that time he can raise funds to buy bitcoin, or if bitcoin no longer falls well below 30k, but only gradually rises until it reaches a bull market, in which case the optimal time will be lost. Hasty action without proper knowledge will almost always lead to loss of money.

Weawant

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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.

Not learning before starting is a common mistakes with newbies interested in investing in Bitcoin, they don't know anything about Bitcoin but what to start making profits and they fail at doing it because they didn't learn before starting to invest in bitcoin or trading it.

When you don't know about a new business, don't think you can make profits without learning about the new business before you start doing it. Trading and investing in Bitcoin are different, investing doesn't come with much risk but trading has the risk of losing your capital.

And that's what your friend was doing. Only those that have learnt how to trade should be trading and those that haven't should learn first because without learning, they won't have any experience to rely on to help them make profits from the market and they'll give up quickly.

Smartgoat

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Quote from: acroman08 on August 08, 2023, 07:13:06 PM

though I feel bad about your friend losing his money through trading Bitcoin, but I think he's foolish to sell his property and use the money to buy Bitcoin and trade without any knowledge about it. the dude literally wasted his money because he got too greedy when he heard about "high profit" when trading or investing in Bitcoin. glad the friend is doing well though(at least according to your post).

I did not blame him that much. because he hard about Bitcoin at the first time and the benefits and gain on it, why trading it. Normally trading of Bitcoin give money if you know what you are doing. he loss huge amount of money because of Bitcoin, but I thank God today, his also gaining huge amount true Bitcoin.

Blitzboy

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Quote from: lousie9 on August 10, 2023, 07:00:10 PM

Everyone certainly has to think long and hard about doing something, especially if it is risking their money or possessions. Investing in Bitcoin is not as easy as turning our palm and then we can get profits quickly.
We must first understand and learn basic knowledge about crypto, Bitcoin and how to invest and many other things.
If we only think about the benefits but don't want to study it first, then we can be sure that someone is messed up and might fail, including investing in Bitcoin.
Investing is an activity to take profits, but in the long run, not immediately after we put our assets in investing, we will immediately benefit.
There are already many people who are careless in investing because they do not do research first and learn the basic knowledge about what they are investing in.

I guess you're partly right? People interested in Bitcoin should research first. Just like investing in anything else. You may purchase a house, collect stamps, or consider "shitty banking"

Im just wondering out loud, but doesnt any activity require some understanding? Going to a forest without knowing its animals may be a treat. Maybe not. I may be overstepping. Do you comprehend? But you might not. Bitcoin investing may be similar. Or not.

I agree that care is lacking. Crypto's fast gains attract those who dont comprehend it. Life's an adventure, right? occasionally you have to jump into a pool without knowing its depth, and occasionally you must know and jump. It depends on perspective

AicecreaME

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Trading and hodling Bitcoin is entirely different.

Trading is risky, so I will agree to you that your friend must prepared himself well before engaging in trading, since it is not easy as it sounds. It requires a lot of knowledge about price chart prediction and how to read them to be able to make a technical analysis. Hodling on the other hand just requires time, and a lot of patient, because it's a game of waiting after buying in the deep.

pinggoki

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Quote from: Marvell1 on August 11, 2023, 05:13:15 AM

If OP's friend had shared that before he sold the property, it wouldn't have turned out this bad. But I doubt newbies won't listen to anyone's advice because they're stubborn and always think they're right. Newbies only accept our advice when they stumble and lose, only then will they learn to listen. Although, OP's friend lost all his assets, but in exchange, he learned a valuable lesson.

That's kind of weird for a newbie to not follow anyone's warning or advice if you ask me, if I was a newbie, I'd be asking a lot of questions about the stuff that I want to know about the stuff I'm getting into, that kind of attitude of leaping in faith is arrogant in my book. I guess OP's friend losing that money is a lesson learned albeit an expensive one but could've went something much better although I can't articulate what should've been done.

Marvell1

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Quote from: lionheart78 on August 10, 2023, 01:24:06 PM

Quote from: Yatsan on August 10, 2023, 11:28:29 AM

Quote from: Marvell1 on August 10, 2023, 06:53:02 AM

Quote from: Latviand on August 10, 2023, 05:44:50 AM

How in hell did you not warned your friend about investing in bitcoin by selling property and then teaching him about it when he finally lost his money? You've known about it, there should've been some way that you could've intervened with your friend's decision. Your title is right though, definitely have a think before investing. I don't want to accuse you but this topic seem a bit fishy, like it's not entirely true or the facts aren't straight because it's not your story and you're just retelling it inaccurately.

OP's story is pretty brief so it's hard to tell if it's a true story or not. But you can't blame the OP for not giving any warning to his friend about the risks of bitcoin investing. How can OP give advice when his friend secretly sells property for investment and when he has lost everything he comes to OP? Because not only OP but anyone in this situation will stop your friend if they know they are intending to sell assets to invest in bitcoin. Especially those without any knowledge.

Well his friend has the right to do so given that it's his property. You might want to give him warning but if he still choose to continue then no one would stop him from doing so. Let's just accept the some lessons aren't learned easily, there are times it would be thought the hard way. Let us hope that atleast he learned something from iy and props for him on continuing where he have taken a loss.

But it looks like @OP's friend listened to him and according to @OP, his friend is doing fairly well after receiving the lectures and accepting @OP's suggestions. I am happy that it bodes well for @OP's friends.

If OP's friend had shared that before he sold the property, it wouldn't have turned out this bad. But I doubt newbies won't listen to anyone's advice because they're stubborn and always think they're right. Newbies only accept our advice when they stumble and lose, only then will they learn to listen. Although, OP's friend lost all his assets, but in exchange, he learned a valuable lesson. I believe that if he listens to the OP and tries to learn from scratch, he can one day regain what was lost. As long as we don't give up and keep trying, nothing is impossible.

lienfaye

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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.

Investing on what you don't know (or you didn't take time to gain knowledge) is like gambling since you have no idea of what you're getting into. Joining the ride just because you heard other investors are earning through trading Bitcoin is not sufficient to just engage yourself without much effort to know the basics. Because it's a basic rule to fill our minds with knowledge to be aware of what we should do.

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.

Nice to know he learned his lesson and now doing good. Sometimes it's not bad to fail if it can make you realized what you did wrong to improve yourself. That's how you can become better since you already experienced the mistakes that you must not do the next time you try to invest/trade.

lousie9

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Everyone certainly has to think long and hard about doing something, especially if it is risking their money or possessions. Investing in Bitcoin is not as easy as turning our palm and then we can get profits quickly.
We must first understand and learn basic knowledge about crypto, Bitcoin and how to invest and many other things.
If we only think about the benefits but don't want to study it first, then we can be sure that someone is messed up and might fail, including investing in Bitcoin.
Investing is an activity to take profits, but in the long run, not immediately after we put our assets in investing, we will immediately benefit.
There are already many people who are careless in investing because they do not do research first and learn the basic knowledge about what they are investing in.

DaNNy001

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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.

This is totally the effect of acting with your feelings and emotion not with your brains because if you have totally self consciousness of your with you been influenced by all what you have been told about how Bitcoin investment can get you rich then you would probably think and take possible action of making proper research before going into crypto investment with your full capital because it's just share stupidity to actually invest on something you have little knowledge about.

bettercrypto

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Everywhere it is when it comes to investment issues you should really know it first so that the capital to use here is not fun. So we call an investor because we are looking for a job or using our money to grow, and no investor does not want his capital to grow.

So it is always nice to have a habit of an investor who learns before you earn, it's hard to think of earnings right away.

Onyeeze

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Quote from: rikybrosh on August 08, 2023, 07:31:52 PM

knowledge is very important, some new people buy bitcoin and hope that bitcoin price rise after they bought it. they see bitcoin as magical thing that will change their life. DCA is very improtant for new people who invest in bitcoin.

You are right, because if you don't have the knowledge of bitcoin you won't prosper well, because some newbie do think that bitcoin investment is all about making profits always and they doesn't think of the negative side of bitcoin, what I know concerning bitcoin is that you have know about bitcoin by Learning bitcoin and understand the risk that is involve in bitcoin, that is what I want some people who think that their is no loss for bitcoin investment. Another thing that is important in bitcoin is to know when to buy and when not buy bitcoin so that the expected profit can be achieved

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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 some people they may feel lazy when told to study again. moreover, they only heard from a few parties and only a few then decided to invest, even though they didn't really understand it yet. Meanwhile, they have high hopes for this, hoping that the brand can be successful from the investment it is undertaking. This often happens, where expectations are high but not accompanied by his willingness to prepare for the investment. This includes the maturity of his knowledge. Because what you said is true, however, crypto investment is something that is very risky. for newbies, this is even more risky, because it is not only related to possibly getting caught by scammers but also coin selection and mental determination when investing.

JoyMarsha

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Someone must have introduced your friend to bitcoin trading without adequately educating him on what and what he should know about trading before getting into it; he didn't just wake up one morning and start doing it.

I have a suspicion that the individual who introduced your friend to bitcoin trading should have also discussed investing in bitcoin and holding it for a considerable amount of time, but your friend choose to engage in trading rather than long-term hodling of bitcoin in his portfolio.

The majority of the errors and incidents we have heard about in the cryptosphere involve newbies trading bitcoins without fully understanding its advantages and disadvantages.

It's unfortunate that your friend lost a sizeable amount of money from the sale of his property when he first started trading bitcoin.

serjent05

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Quote from: The Cryptovator on August 10, 2023, 03:20:24 PM

I sense skepticism in your story, but I'm curious: how did your friend, who lacks knowledge about Bitcoin investment and trading, decide to sell their property to invest in it? It seems a bit unconventional and risky, considering most people wouldn't take such a step without proper understanding. This scenario goes against typical investment principles, making me wonder if your friend

There are really people who are insane in terms of investment once they get hyped and focused in raising the amount to hit their desired result according to the data given by the person behind those hyping. I have seen lots of scam victims in my country where they sell their lands and properties just to get into the investment plan laid out by a scam company. So this kind of scenario is pretty normal due to the greed triggered even without the knowledge about their investment.

panganib999

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See this is how I know you're pulling this story out your ass.

First off, Bitcoin in its ATH falling down to this current price point wouldn't zero you out even if you wanted to. No way in hell your friend lost everything in one bear market season unless he's either trading in low denominations, but judging by the fact that you told us he sold his properties I'm guessing that's good money right there, which doesn't align with this logic. And now you're telling us that he's lost everything cause he doesn't know how to trade bitcoin which I would assume you mean "trading bitcoin properly" which is true to some degree but again, even if you wanted to you can never zero yourself out on bitcoin within this particular price point lol.

I get it, you want to post something, but at least ground it to reality else people in here would rip it to shreds.

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Quote from: Obari on August 10, 2023, 03:30:25 PM

Quote from: _act_ on August 08, 2023, 06:09:48 PM

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

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.

Do not get it wrong, your friend did not invested in bitcoin, he was trading which is another thing entirely. Bitcoin ATH is $69000. Bitcoin today price is $29800 now. Even if he invested in bitcoin at ATH, he would not have lost everything. And bitcoin will still get to $69000 and increase above the price, only what is needed is time.

Well I think op is still very confused about bitcoin himself and I'm shocked that he thought someone trading and his student is doing very fine today and yet he (tracher) still isn't clear if he thought him investing or trading 🙄

Well let me correct @op that bitcoin investment is entirely different from trading and when talking about trading, people who do this believe that bitcoin's price will rise or fall at given point in time either within minutes, hours, a day and so but while investing in bitcoin it is expected that you're holding it for a much more longer time like a year and above and not been moved by the circumstances around.

Just like someome that was once a trader before(maybe a forex trader) may see the market from a different angle because the way they trade the forex market is somehow different from crypto that we can just enter the market and study it without much time. Some cryptocurrency traders do not even make sure of the fundamental analysis mainly because cryptocurrency has not gotten to the stage where fundamental has much effect on the market.

If he is a forrex trader then it will take some time to trader and understand the Crypto market and the terms involved. Trading is all about determination, since one can start trading with loses and later start making profits from the market depending on how the trader fixed himself.

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Quote from: Kakmakr on August 10, 2023, 06:12:28 AM

The people who lose everything are just greedy and trigger happy....

I had friends who knew nothing about Bitcoin and they rushed into the first thing that had "Bitcoin" in their pitch. Unfortunately some of these investments were Ponzi schemes that promised huge profits. They did not think twice.. or did any research, including asking me if it was the real deal... so they lost a large amount of money being greedy.

When you buy & Sell Bitcoin you have to be patient.... it is not a "Get rich quick scheme" or something that gives you a constant passive income. You simply buy low..... wait for a rise in the price ...and sell at a ATH. Wink

Yes, many people get greedy on investing because they really want to get rich overnight. They should understand that investing is not a recommended get-rich-quick scheme, but investing is the best way to allow your assets to grow gradually over a long time frame. Many people don't understand the basic concept of investing so they fall and get involved in bad investments like ponzi schemes and such. They don't do thorough analysis and research before investing, but then they regret and blame bitcoin for the loss.

I also want to say that investing and trading are completely different. One needs to understand the concept of both well and plan a good strategy to be able to take profit. Not everyone who invests can make a profit, the same goes for trading. Both are risky, so use extreme caution and judgment.

Topic: think before investing - page 4. (Read 968 times)