Bitcoin Forum

There's this advice my dad gave to me some years back. He called me and say, "my son, if you want to archive success in what ever you do in life, learn to take advice mostly from those that have archived success in the area you are seeking to be successfull. learn from the mistakes of those that tried and fail but don't allow them discouraged you. "

Some people wanted to invest in Bitcoin but took the advice of some one that have not invested into Bitcoin and the person convinced them not to invest.

Some people invested already and where holding their coins but a non investor adviced them to sell their coins and they sold off quickly and regret after the market boom when they have sold off.

The ecounragment on this topic are: if you want to succeed in your crypto journey, learn from someone that is a real investor or someone that have a very professional knowledge about Bitcoin, draw your advice from a successful investor, learn from the mistake of those that fail and make more research so that you will not make the mistake they made.

Don't allow yourself to be discouraged by someone who is not on same race with you and someone who has never run the race you are about to take.

A teacher was once a student, a doctor was once a student, an engineer was once a student and to balance the equation in the professional work of these people I mentioned, they can only take advice from someone in the same profession with them.  If a surgeon want to operate his patient and has any challenges, he can not take advice from a common man who doesn't have knowledge about surgical procedures, he can not take advice from a musician nor from a football player, he will take advice from a senior surgeon.

So, why will you take advice from a non-inevestor and become discouraged not to invest into Bitcoin too? The person you are taking advice from doesn't even have a decent knowledge about Bitcoin.

What is the best advice you got from your parents that have always been a tool of reference through your journey in life?.

One thing I learned on this journey was this:

It's a lonely journey, it's you and no one else, you need to study and follow your instincts, without interference... obviously, you watch and read the news in this environment and everything, but when it comes to money it's you alone. .. No one will congratulate you when you increase your purchasing power and no one will feel sorry for you if you lose money, quite the opposite, there will be people wanting to rob you if you become rich, or people laughing at you if you become poor.

Finally, understand the fundamentals of what you are involved in, this is what takes you forward

This applies to life in general as well. You shouldn’t let other people judge you and your decisions in life because it is you who knows the most about your life. If someone lacks knowledge about a particular subject, do not take advise from them as they will just spew nonsense to you.
Probably it’s having to try no matter what the result may be.

We often tend to give up even before the game actually starts because we are scared we might lose. But even with the possibility of losing, you should still fight the best that you can. When you are afraid you might lose then at least you know that something is still as stake and you value them a lot.

I have been there and received a lot of bad words from the non coiners when I have told them that I am into Bitcoin and invested on it. This was years ago when not that a lot of people have invested on it and can be said one of the earliest still even if I have considered myself to be late. I have never listened to them because I've done my research and knew what I was doing.

This is a common problem for the newbies. They are asking questions to non investors/non coiners and seeking their advise what to do. Good thing that I have not asked any from them and even so, I won't be discouraged by any of them.

I am so fortunate that they've told me to invest but that was already after when I was able to make some profit in BTC. But still with that, it's about diversification and investing in other assets too.

People always support what they believe in and will put in all the effort to speak good about it in a manner that makes you believe that what they are saying is the truth and nothing but the truth. If you ask someone who is into real estate what's the best asset to invest into, what will come out of his mouth will certainly aim at demeaning any other investment option out there and will certainly recommend that you go into real estate. Same is what's applicable to someone that's a core Bitcoin enthusiast. As a person, you have to decide which one is best for you and seek advice from people who are already in that sector and have seen good result by working from that sector.

At some point, your parents aren't even the best persons to take financial and carrier advice from most expecially if they are not in the same carrier part you're going into. You've got to know who to listen to. Listning to the wrong person will mean that you're endangering your mind to getting fed with the wrong information that will certainly sware you into the wrong part. Talk consistently with somebody that believes in always waking up in the morning and rushing out in pursuant of 9-4pm job and he will talk you into believing that it's most decent to take that part. Listen to someone that's into meme coin and altcoin and with time you're bent on stacking those shits field up in your portfolio.

The people you listen to matters a whole lot and if you allow a non investor to discourage you from stacking Bitcoin when he obviously have zero Bitcoin experience, you're directing killing your energy and potential to ever become a true Bitcoin enthusiast.

I think the only investors who takes advice from non-investors are either newbie, lazy or fool, I mean why would they even take it or believe it? they are the investor they should have done their research before investing so they know more than those non-investors.
They should know how to manage their own funds, decide for their self, if they would always rely on other people they would surely end up losing more rather than earning.

Not entirely correct.

Even though it's make sense we need to hear from the professional or experienced people, but there's also other advice that can contradict your Dad's advice which is "don't judge by it's cover" i.e. "don't judge someone what he looks, even you meet someone who like a gangster, he might be a good person".

Just like Bitcoin, the creator don't have to be popular in order to make people interested with the project.
Just like merit system, you should merit the post instead of the user.

I wouldn't say that because if you're taking an advice then that means you've got the initiative which means that you're a hardworking person and it's not fair to say that they're lazy just because they've asked for an advice from someone that's not inclined to what they're investing their time into, in my opinion, people who do that are most likely, people that don't have the proper connections and those that don't go out more to meet new kind of people, in a world that's full of this kind of people, it would be a disservice to yourself to not surround yourself with the people of the similar interest as you.

It comes down to "dont trust, verify".

Dont trust someone blindly on their opinions, do your own research. That's it.

In the end, it's your money.

Your father's advice is valid but it might not be the case at all times. Sometimes, you can learn from people who are not successful, but it all depends on you to keep learning. The person who introduced me to Bitcoin was not a successful investor. He introduced me to the sector, and I took the time to verify what I learned and went further to acquire more knowledge.


There are fudsters everywhere, so you should always verify before you make any decision. Your ability to verify the information you get from individuals and news outlets is what makes you a mature investor. You should be responsible for your decisions because they money belongs to you.


My mother has always told me to enjoin the right and forbid the wrong. I have learned to always be upright in my quest for financial stability.

Most likely those who get discouraged by non-investors are beginners or people who are not confident about their knowledge and skills in investing or trading. Obviously without much knowledge and experience, they might just take any word from about anyone.

But once you have learned even the basics, no one can convince you otherwise that investing in cryptocurrencies is a bad idea. I don’t think I have ever met an investor who was easily influenced by non-investors, most of them hold their stances because they know just how profitable investing is.

How is it even possible that an individual who doesn't have any knowledge about Bitcoin can give an accurate advice on Bitcoin investment? Some people always criticize Bitcoin and its investors, causing FUD and deceiving others not to invest in Bitcoin, so it's not wise for anyone to easily feel discouraged about the FUD from Bitcoin haters. If anybody want to invest into Bitcoin, they have to learn from some informative material on the internet or make inquiries from those that have a good knowledge of Bitcoin.

Some people are regretting today because they didn't invest into Bitcoin in the early days and some of those people have different reason why they didn't invest on time, some probably listened to wrong advice which they are regretting today.

That's probably the most backwards way that you can do when it comes to needing an advice in your bitcoin investment journey, it's like asking a farmer how to fish, you won't get the right answers or worse, you might be misinformed about certain stuff. It's really sad for someone to be discouraged by someone that doesn't know anything about bitcoin but I've heard one of such case back then, it was also stupid on that person's side so he's not free of the blame at all, he followed the advice of investing into this pyramid scheme instead of bitcoin and there was some prosperous days during those times but ultimately, he didn't get anything because it was a pyramid scheme, that person that stopped him from investing in bitcoin ended up running away with all the investment, it's a tragedy.

Unfortunately many people have low levels of self confidence and they simply follow what the majority of people do. If everybody does something, there is a high chance we are tempted do to the same because we think that if so many people are doing that thing, they must be right, they cannot be all wrong, can they? Actually, yes, they can. When I decided to invest in bitcoin I just did it because I felt it was one of things that could either go very well or very bad, but either way I didn't want to miss the chance to try.

The general sentiment of relying on experience of successful individuals in a certain area and learning from their mistakes makes sense to me. The problem is, people can lie or at least overdramatize their success and failure stories, which can make learning from those experiences harder. Moreover, I don't think Bitcoin investment is something that requires that approach and expertise. Learning from mistakes of others is still relevant, but it can be done by following this forum, its relevant threads, or media articles about scams and hacks. As for investing, it's a decision one must make individually, regardless of being encouraged or discouraged.

a good investor suppose have make sure that they make a proper research concerning Bitcoin before investing I know very well but cryptocurrency investment in something that is diabolic so a good investor that he has conduct a proper research I don't know why some people fail to make a research before then go into any investment for me it is bad as investor because you need to carry out many functions don't know the advantages and the disadvantages to know if the Investment we propagate or not so that is the necessity of someone who is investor to keep it eye open.

nothing related to investment. but i agree to not take advice from someone who hasn't done it before.

you have already decided to invest in Bitcoin, it shouldn't discourage you anymore even if they say it's going to go zero in the next bubble pop. the advice you are going to need is how to keep your BTC safe or how to trade as the next steps. don't stray from what you have been aiming for.

Trust your own in the end of the day since its your money that would really be that make use to invest not theirs, but somehow it isnt really that bad on making yourself that listening someones advises but of course just like on what been said or mentioned that you would be specifically be listening out into those people who do have that proper knowledge or someone who is really that having the experience and skills.
It would really be just that common sense on whom you would be following but just like been said earlier that in the end of the day, you are the ones who would really be making such decision.
It would really be giving out that huge regret that you are really that following someones advises. So it would be best that you should really be following on your own instead.

Getting those advises from my parents is that, i should assure on having a business or investment rather than on focusing on acquiring or getting those wants that doesnt generate income or revenue.
One of the main things that do goes into my mind or had been instilled deep insider. Learning up from others experience isnt that bad to consider or to look out but just like been said earlier
that you are the ones who would be making out such final decisions.

Yeah exactly I mean what you have said was all correct. It is I think the best to find someone who has already achieved what we wanted to be just to take an advice from or maybe an inspiration because we all have one goal in life to succeed in every career we chose. It is best to do trial and error or use an existing working startegy from the successful people we know and we try to improvise that strategy and make it our own unique accurate plans.

My answer at the moment would be, no I would never sell bitcoins adopted in my DCA method on the advice of non-investors. Maybe four years ago if someone had told me that the price of bitcoin is not future or that bitcoin is a scam, maybe I would have believed him at least and sold my invested bitcoins.
But at present I know about Bitcoin what it is and what it is made for and how its future is going to be. So there is no question that I will sell my bitcoins as suggested by a non investor, rather I can call him reverse crazy fool public. Currently holding fiat currency is the biggest folly, because the value of fiat currency will decrease as day goes by due to inflation. On the other hand, if you follow the Bitcoin DCA method and continue to invest little by little, then in the long-term your profit will be much higher.

Sorry, while growing up, my parents gave me a lot of advice that right now, I can't even remember any,  ;D, but all things being the same, I get your entire gist, it's a good advice you've shared by the way.
But why would someone ask bitcoin investment advice from someone who has no knowledge of bitcoin? Isnt that awkward? Is like you being blind, and then you ask another blind man to lead you to cross a high way, how successful do you think would be?

People who want to invest in bitcoin can only consult those who are already into the system for advice on how to go about it, this way, they are sure of not making any silly mistakes.

     It's simple: if you yourself have an interest in bitcoin, of course you will find a way to find out by conducting research, and when you see the concept and essence of bitcoin, you will see its potential and the reason why people are obsessed with it. Institutional investors are things that can also push you to invest in bitcoin that has real potential.

     Now, if there are others who discourage you because you know what you really saw in Bitcoin and you don't, of course, believe what others say because you are the one who saw gold and not them, then you will believe what they say? It will come out that we are fools in the end.

The only thing that should compare you with others in terms of Bitcoin investment should be knowledge and information, anything apart from that you should just avoid advice from anyone.
Cryptocurrency is a journey that you will embark on with your knowledge and not others advice because no one will take responsibility when you lose money.
Learn and gain knowledge first so as not to rely or depend on other people’s advice while trying to invest; and make your you learn how to do your research.

It's actually funny because OP is asking us as if we already are taking advice from other people from outside the industry when it comes to bitcoin. I never did and still don't.
Back in the day when I first bought bitcoin I didn't really know what it was. Did not have extensive knowledge. I bought it after reading about it for a while, watching videos by people fascinated with it (no, not any pump and dumpers or traders) and kept holding for years. Each bull market filled me up with more and more confidence and so it went. With each bull market (and this is my third one) holding became easier.

someone was trying to discourage him in his Bitcoin investment. probably someone who holds Gold and Silver. people are always comparing whether which one should be held in times of uncertainty. 2024 is a year of uncertainty. i think most of the people who are already holding BTC will keep holding it while people who are heavily into Gold will also be with gold. it doesn't matter these are all investments. the best part is that if you have no gold, it's also not yet late just as you can buy gold as you can also buy BTC.

Hmm
It is absolutely right that the majority of newbies often face losing because when they hear about Bitcoin and profit, they become crazy. They think that Bitcoin is also like others  investment assets like an easy investment. Therefore, they starts following the layman, and also takes advice from him, although even the person who's giving them advice does not have any proper experience, he just tells the people that Bitcoin is a good investment asset; just buy it and sell it to earn profit. While people does due to a lack of knowledge and experience, he himself loses his money and also makes other people lose. And later defame Bitcoin saying it is a scam. 
 
So it means to say that before investing in Bitcoin, get knowledge yourself and at the same time get experience and then take a decision for yourself. And one more thing: always invest in those that you can afford to lose.
DYOR!

You are right

But we don't all have someone who is a senior in what we choose to learn, I started crypto investment on my own, there is no single soul out there that I could look up to, many around me advised me to stop wasting my time away, but today they are struggling to survive, now they start considering Bitcoin investment.

It is so true that you should stay away from those who are not into the same thing as you, because they lack the knowledge and all they have for you is discouragement, my Bitcoin successful do affect the way I think about others and their goals, today I will never advise someone to quit their dreams, even if we are not into the same thing, it doesn't mean they won't be successful in what they plan to achieve.

It is Better to surround yourself with people that believe in your dream but if none is available or all those around you don't encourage you, stay away from them and be strong at mind, go big on what you believe in, knowledge is powerful and only achievable with research, never stop acquiring the knowledge.

People who offer you discouraging advice to discourage you from investing most times are people who cannot invest themselves due to lack of the ability to stay committed or to make sacrifices for the future, or because of other reasons that they will never let you know about. The motive behind their bad advice is mostly out of jealousy and not love because if you love someone you never advise them wrongly or give them advise on something you know that you do not have full knowledge about.
On your own side as an individual who has decided to invest, realize that not all financial advice that you receive are good and at the end of the day you need to make sure that you do your own research and know the facts, so that you do not easily take bad financial advice from someone who knows nothing about what they're saying or from someone giving you advice out of jealousy.

Exactly this is is not just any easy task one is embarking on when they want to invest into bitcoin, the thing about it is you need someone who have been in the business to actually guide you and not only that you need his constant advice most at times. This is part of why many investors you will later see selling either at a loss or too only. With someone who has encountered many market corrections will definitely be a source of inspiration for you when you encounter the challenges listed above, having had the experience at in the past you will able to get in depth experience and not just knowledge on how to deal with the stuffs like the bearish period.

It is not even just cryptocurrency or bitcoin situation but overall do not take advice from people who are not in the niche same as yours. People who are not into bitcoin will always dissuade you from investing in it because everyone Always sides with their believe and as such you don’t expect someone who might have been seeing bitcoin as scam as your advisor

IMO, no one is going to ever tell you how to make money, they can say their experience but don't expect them to say what you need to do cause it's your fucking job to decide what you need to do get your success whether financial or in something particular.

Getting advice from others who are into this either successful or failed can give you insights about what are their mistakes and how can you dodge them if it helps but apart from that it is your destiny to find and don't expect to come at you in a gold platter.

"Nobody Cares, Work Harder"

"Achieve" success.  You probably need to be able to spell it properly before it comes to fruition :)   Just messing with ya/giving you a hard time.  That said..my father started teaching me about the stock market from very early on.  Likely around 11-12 years old.  His overall words of advice were to save a certain percentage of your money and to do things like cut coupons, pick up tails facing up pennies on the ground etc.

I have no doubt that if he were still around that he would have been a bitcoin supporter.  I wish he was so that we could discuss it together.

I totally understand and acknowledge your words but perhaps they are very true and those are the exact things that ruined most investors life and even outside bitcoin or crypto a lot of people just follow what people around them says without making personal inference to find out whether the masses or the advices are good or not but they go ahead either because of the love of trust they have for those advisers.

On a personal level, one of my favourite advise my dad was "life isn't simple, it's hard and along your journey to success life will throw stones at you but don't you ever throw them back at life but rather pick them up and build a shield for yourself and build a beautiful home out of life. It's applicable to bitcoin journey, you have to face the bear markets, FUDs, SECs etc but have to over come and use them as your story at the end when you finally achieve success.