Bitcoin Forum

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.

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.

If he invested in bitcoin, time of profit will come even if he invested at the wrong time.

Anyone that wants to invest in bitcoin can gain more if they are able to make research about bitcoin price, bitcoin halving and following the latest news like spot bitcoin ETF in United States.

Then your friend should have just held Bitcoin instead of trading it, so he could have waited BTC price to increase to sell for profit at once, instead of risking it everyday through daily trading. And doesn't matter how experienced you are on crypto market, trading will be always a risky deal. The market is too volatile and you may end selling BTC cheaper than you bought, if you aren't a patient investor who forgot drawing long term goals when planning the investment.

It's actually possible for one to invest and earn profit from bitcoin without having trading knowledge, as what is just required of you is to buy and hold. When it is time to sell, you can contact someone whom you can either do P2P with or who can help you sell it in an open market.


This is the end result of being misinformed about something. Misinformation always leads people to make bad decisions that usually end up affecting them. If the person who invited the person in question was wise enough to explain to him that Bitcoin is not a get-rich-quick scheme, I don't think the person could have hurriedly rushed to sell off his land just to invest as if Bitcoin is running or they have seen that the price wants to pump in the coming days and they want to take advantage of it.

But by the way, how did the buyer eventually lose everything just in a short period of time, as just holding bitcoin without trading it will not liquidate your assets; instead, the value will only reduce, which you can still sell off anytime and take what is left? Or did the guy in question buy the bitcoin and decide to use it on future trading, which I believe is the fastest way for one to lose everything within a short duration? Or could it be possible that the story is just an illusion?  ::)

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).

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.

Before investing in BTC, of ​​course, knowledge must be prioritized because without prior knowledge, of course, the potential for losses will be greater.

Your topic is certainly an example, especially for a beginner, that is, for those who are interested in investing in BTC, of ​​course, must first prioritize knowledge, if our have a lot of knowledge, then our can invest in BTC.

Investing without knowledge is like gambling and after their investment is lost all because of their greed and stupidity, they start blaming bitcoin as a scam, as gambling. Lazy people and get-rich-quick mindsets deserve it, it's a valuable lesson for your friend. You're helping him start over, which is a blessing.

But I hope you know what you are doing because it is not easy to teach others to invest and trade, because we cannot even be sure if our investment is profitable or not. Teaching others to get rich is very risky.

Interesting story, of course, but I like your friend's style to have the courage to enter the market. even though there are many obstacles on the way, at least when he consults with you quickly, your friend can educate him on the tricks and patterns and the feeling is born because he doesn't know how to trade Bitcoin properly and correctly.

Yes. when we fall into investing, we need strong support from friends or anyone who is smart and proficient because the psychology here is very influential so that if your friend enters the market again, his confidence will increase because the technique has been mastered. for me, your friend has a strong mentality and besides that he knows BTC is not just any coin.

Investing in any business without proper knowledge will ultimately lead to losses. I am suspecting that your friend was driven by greed so he invested in a Ponzi or scam scheme that claimed to be a Bitcoin investment scheme. The reason for my suspicion is that you said he lost all his money, meanwhile, Bitcoin prices have not dropped to zero. Many scam schemes promise huge gains and pretend to be Bitcoin investments all over cyberspace. So one needs to verify the genuineness of any scheme before investing.

Your advice is cool. The rule is to learn before investing. Don't be driven by greed or the desire to get rich quickly. The time spent on learning is not a waste because it will save you from avoidable losses. I am glad your friend has put his loss behind and is now willing to learn.

sometimes it is human nature that leads to misery, in a hurry to immediately make investments so that they are like their friends who are already successful, unknowingly not having a background in knowledge about bitcoin, so bad things happen. therefore knowledge is very important before investing, the rest we can invest calmly. Of course panic selling is the main obstacle for novice investors who see prices actually dropping, and the fear that all the money will run out, and after that many say that bitcoin investment is a fraud, even though they themselves make mistakes

if we want to be successful in all fields such as investing in btc and so on, of course what must be prioritized is knowledge because without prior knowledge, of course, the potential for losses will be greater. but op I admire you because you have taught your friend about trading btc, but in my opinion you also need to teach him about long-term investing in btc, with the aim that he understands more about btc. but of course the decision is in the hands of your friend whether he wants to invest short term or long term.

and to be honest i also like short term investment and long term investment in btc. so in my opinion op you can also invite your friends to join this forum so that he gets broad insights about crypto

Don't try investing in Bitcoin or cryptocurrency with lack knowledge, too risk for your friend when selling his property assets and use for investing in Bitcoin because he still not popular yet advantage and investing working in Bitcoin. Actually when having bitcoin its simple thing and the same what did with property investing, he can find for investing in lower price and sell later when bitcoin going up to higher price. But your friend have mistake without understand yet with Bitcoin and start investing by selling his property.

Have been human habit, when hearing about new kinds of investment as faster get profit they will try and leave what their business have build for long time, its the same with your friend by selling property and start investing in bitcoin although in lack knowledge of bitcoin.

I don't think they're trying bitcoin, once they've determined to sell their assets to invest in bitcoin they're serious about it. But they quickly fail because their naivety and greedy instincts make them think that making money from bitcoin is easy and requires no knowledge. This not only happens to you of the OP but a lot of newbies have these misconceptions as well. They just look at other people's success and think it's easy to achieve, but they don't know those who have successfully invested in bitcoin, they sacrificed a lot to get there.

It’s not only Bitcoin that is risky. It’s any type of investment out there that is not considered a government bond pretty much.

Many made money by investing in crypto but many also lost money. No different for all those people who lost money in 2022-23 with the stock market when it took a large dive. For example look how low Facebook, Netflix and Tesla went and look at the price now.

Bitcoin is no different.

Warren Buffett says that he doesn’t invest in a business which he doesn’t understand. That’s a great quote imo. If you don’t understand what you are investing in, then you will probably lose money because you will make lots of other bad decisions as well. Your friend was a great example. People shouldn’t even buy a real estate unless they exactly know how the real estate business works. Stocks, bonds, crypto… they are also the same. Unless you don’t understand them, you shouldn’t invest in them.

First of all congratulations and condolences to your friend. I am amazed to hear your story how your friend sold all his assets and invested in Bitcoin without even knowing about it. How can a person trade or invest in Bitcoin without any knowledge? It becomes like a gambling game which is win or lose. You said your friend lost everything investing in Bitcoin but my question is did he lose trading or investing? People seek help from others when they are in danger and that is what happened to your friend. In any business or investment we must have knowledge and we must know about the one I invest in or we will face danger in future.

If by now your friend has learned more about bitcoin from you then that is a great move. Even though your friend has to start from a defeat. But fortunately he chose to study in the end. And what I can say about bitcoin is that it is more suitable as a long term investment. And it is better to avoid short-term trades. Especially if we don't have enough insight and experience about trading. And between investing and trading there is a big difference. And it looks like your friend made a trade and maybe he panicked when the price crashed and started selling. Maybe you should start teaching about investment methods that are simpler and more measurable, such as the DCA method. we don't have to invest a lot at once. We can start investing gradually little by little with cold money that we can save for the long term. And remember if the initial intention is for a long term investment then it is better to avoid checking the market too often. Because it can affect our mentality in investing. Unless we are traders, it is natural to always check the market.

I don't know why your friend was so dumb, sorry forusing such words but its the way to elaborate what he acted in.He sol his property by just hearing that the Bitcoin market is highly profit making, seem like your friend is very rich or he own a good capital at least more than a middle class person because He invested int he volatile market about which he don't know the ABC and he tried to invest in it.

I am very curious Op your point of mentioning is very important but 99% people always do a research weather its small or in depth before investing their money in any market they use to learn the basics. Trading is not like just Invetsing and holding it really need some decent skills and in such market conditions as for now only experts can trade because there is very tight range movement. Well I hope your friend got his life lesson by this event now he will be more focused to learn before earn.

The most frequent mistake made by newcomers to trading or investing in bitcoin has always been negligence of learning first. Without considering the other side of the story, they let stories fill their heads about how people make money from trading and constantly view trading as a get-rich-quick scheme. They fail to realise that every successful story also has an opposite side that involves the struggle and instead assume that the successful individuals whose stories they have heard simply woke up one day and began making money. New traders frequently believe that they can start trading right away without any prior knowledge. Even if you have adequate information to trade, you still need to be careful how you go about it or you could end up losing money because trading involves a lot of dedication to understand the market and techniques to follow to minimise loss.

Making mistakes is sometimes the best teacher and experience is the best way to learn. He is fortunate to have you nearby because without you, he might have run to the books to learn how trading is conducted. Many people encounter a similar situation because they believe they can skip the learning phase and jump straight to the profitable part, but they all end up returning to the books to learn. Since nobody is born knowing everything, there is always a learning phase in life from which we cannot escape if we are to succeed in anything.

Investing is far different from Trading , and in which your friend acted .

He sold his house to trade in something he does not understand , and that is to risky for everyone .

But if he invested instead? there is a man back in the years

Didi  Taihuttu

In 2016, Dutch national Didi Taihuttu, his wife and three daughters sold everything they owned to invest in Bitcoin when it was trading at only $900. “We sold everything we had – house, cars, motorbikes, holiday home, clothes, toys, furniture and [it] all went into Bitcoin,” Mr Taihuttu tells The National.

https://www.google.com/search?q=the+man+who+sold+His+house+to+buy+bitcoin&oq=the+man+who+sold+His+house+to+buy+bitcoin&aqs=chrome..69i57.11269j0j9&sourceid=chrome&ie=UTF-8

feel sorry for your friend and hope this will not happen to you.

If your friend after buying or investing in bitcoin did hold it, and not try to trade, that is sell high and buy back cheaper like many of us do, he wouldn't have lost his money, his bitcoin would still be intact, So on that note, i will like you to know that investing per say, usually does not require much knowledge, in fact, someone you trust can help you invest in bitcoin or any other crypto coin of your choice, help you withdraw it and put it on the wallet you control the keys, you wouldn't have to do much but watch him or her as he or doing it, at the end, you own your bitcoin, but where issue arises if or when the such noob investor tries to sell and buy like a professional trader, the chances such a person will lose his or her money is very high, so i am thinking that this is what really happened with your friend, not that he invested in bitcoin and lost the money per say - this is if your story is even true by the way.

Your friend did the most foolish thing for going into trading without a single knowledge on bitcoin trading. I don't know if these newbies think that trading is like selling pizzas,where you sit down and whoever wants to buy can make an order or come to buy directly and if nobody buys the pizza will still be there. Trading is very risky and can lead even a professional trader to great lose if he makes some miscalculation. He would have invested and hodli for long instead of gambling with his investment. I am happy he has learnt that bitcoin trading is not a get rich quick thing but needs time to learn and understand before investing.

sometimes there are times when investing in btc experiences losses, and I'm sure many people have experienced losses in investing in btc, and in the end they can become successful because they learn from experience or are taught by friends or relatives or learn via the internet and so on.

indeed, in investing in btc, knowledge must be prioritized and investing in btc due to lack of knowledge will have the potential for loss, so it is true what you said op, namely that knowledge and knowledge must be prioritized before investing or other businesses.

If He sold his property. That means He bought Bitcoin?  Did He sold it? and when does this happen? It is because no one will sold their property if they're not gonna hold it in the long term,right? Because it seems that it is not clear to me if the Bitcoins that He bought has been already been sold.
And beside, your friend has a lot of options to do trade not to focus only on Bitcoin but to others that as a potential as well in the market.

Bitcoin investment is different from fiat investment, I don't know why some people are still selling their properties to invest everything on Bitcoin without having the knowledge of the investment. As a new investor, you have to look for a way to acquire knowledge of Bitcoin so that you will know when to buy Bitcoin and hold until the market price increase higher before you can release to make a passive income, which is a good skills many potential investors are using to achieved income from their investment. I believe, your friend will never forget this Love you showed to him by teaching him how to make a good income from Bitcoin investment.

I think the aim of every man that are investing on a Bitcoin is to make profit. and no man venture into business for him or her to get loss. I believe for you to get into business, you need to get the knowledge about such business else you will loss everything. in Bitcoin, for you to sell, you must understand the up/down of the it. you can not sell, Bitcoin when it's dropping, you can only sell when it's Rising to avoid Losing everything.

well that already happened and there is nothing we can do about that , but this post brings a lessons for everyone that never treat bitcoin as how His friend did.
keep the funds intact , HODL it and try to wait for some time before considering to dispose and sell it.

It is true that investing and trading are different, trading is a lot riskier. But for someone like OP's friend who doesn't have any knowledge about bitcoin, investing won't do him any favor either. Whether investing or trading, knowledge is required, otherwise, losses are inevitable, but losses in trading will happen faster than investing.
Imagine if he has no knowledge and buys bitcoin for $60k and when the market crashes, bitcoin drops to $15k, and he sells in a panic, that's not much better than trading.

When someone exchange Fiat for Bitcoin on any exchange its called trading, he trade his Fiat for Bitcoin, this doesn't make him a trader, he can withdraw after getting his Bitcoin and hold, there is no risk in doing this and anyone who knows nothing about trading can do this, it still doesn't mean they are doing it wrong.

What is stealing peoples opportunity in crypto space is time, the time to buy and the time to sell, we are impatient souls, who always want something to happen very quickly and that's why many people's dreams were never fulfilled.

Master Sebas.tian, you can't get Bitcoin without Fiat, you need Fiat first even if you decide that you will never buy Bitcoin, to mine Bitcoin you still need Fiat to buy the Asic miners, which one is Bitcoin investment is different from Fiat investment?

Everyone knows their worth, if millionaires are also selling properties to acquire Bitcoin I don't think that those doing it on this forum are stupid, just because OP friend lost all the money doesn't mean using properties to buy Bitcoin is a bad idea.

Just as there is the prospect of profit by investing in Bitcoin, there is also the possibility of loss. Investing in Bitcoin is risky. Again, success cannot be achieved easily without taking risks. Investing in Bitcoin requires acquiring good knowledge about Bitcoin. Op your friend loses money by investing in Bitcoin without gaining any knowledge about Bitcoin. Your friend should first get all the ideas about Bitcoin. If your friend had held Bitcoin for a long time, he would not have suffered so much loss.

Should I believe everything you have just told, someone who is new to Cryptocurrency (Bitcoin) will certainly be very confused about how to start getting Bitcoin from Zero. At least he has to register on an exchange to trade Bitcoin, then deposit some money for the initial capital, then he must be equipped with knowledge of how to trade it.
There is a lot of knowledge that needs to be learned before getting involved in Bitcoin trading, anyone can trade in Bitcoin without any age limit. The first thing that is most important before you dive into Cryptocurrency you must be equipped with knowledge on how to become a reliable trader, Bitcoin is not just about profit but there are risks that must be considered.

indeed that everyone is here to profit but at least people must understand the risk before gaining and this is not your friend seems to uinderstand before dealing with this market.

I am skeptic about the story but there's a real story that has happened the same of what you've told. Those people that have been caught by hype will invest and do crazy things such as selling their properties and everything to invest.

That's a wrong move, you don't do that because even the best investors when you told them something that you can earn with. They won't believe you quickly and they have to study it first should they invest.

We don't want people to do nasty things upon investing in Bitcoin. Because the negative feedback goes back to Bitcoin as if it is Bitcoin that made them lose and not themselves.

I don't find it believable that as op said his friend has no idea about bitcoin yet he sold his land to invest in bitcoin. That's because if I want to invest in something, of course I don't have a good idea about it, but I have a partial idea, then I will invest there, and an important thing like selling land. The op said that his friend lost everything, but I think that in Bitcoin, if Shaw stroke. Even if he keeps his entire capital will not be lost he will sell it when its value increases otherwise he can withdraw what he has. DCA is very important for those who are new to bitcoin and want to invest in bitcoin like op friend.

Your analogy is kind of incorrect because BTC is not a business in itself, it is true that if you are an investor who purchases BTC, you'll surely want to make revenue, but you may not enjoy the benefits of BTC if you take it as a business. Trading is risky and it is not for newbies, and as for investing, you must know what you are doing as regards how to keep your funds safe.
Is there anything like investing in fiat that is inflationary?

Invested, but lost everything in bitcoin trading? Did he do futures trading and lost everything? Because if in spot trading it is impossible to lose everything except in trading shitcoin.

If the goal is to invest but why do trading if it is not in his realm of ability? If investing is quite simple, just hold bitcoin and it will not lose if he never sells it and will even tend to profit for a long time.

All forms of investment and trading then obviously they must know how it works otherwise he will lose what he is doing.

If your friend invested in bitcoin, he wont have lost everything maybe he was trying to trade bitcoin that was why he lost all his money, but your friend is kind of funny, why will he sell his property to invest or trade what he those not know anything about, just because he heard that people are making money, then he went to sell his property, am sure he will regret his actions and will do similar thing later in the future.

Hope you really know about bitcoin before guiding your friend? I notice your account is new on the forum here, actually you might have been in crypto space for a long period of time and you might just be joining the forum here, because have seen some posts here where newbies that are suppose to be learning about bitcoin are teaching people about bitcoin, but if you really know about bitcoin then its a nice idea guiding your friend. Hope you told him not to store his bitcoin on exchange, no exchange is safe, so make sure you are having full control of your money, tell him the appropriate wallet to store his bitcoin, and the best way to secure his private key, it should be stored offline and he can easily carve it on a iron steel.

An investor without the correct information, counsel, or even basic expertise may be in a risky situation. You see, understanding how complicated the purchase is before committing is crucial, if not critical.

Despite sounding repetitive, trade education is crucial. In a roundabout way, your friend's experience illustrates this. Your friend's example indicates that learning about Bitcoin, understanding it, and getting the notion is very crucial.

From your post OP, I think you're saying that your friend "invested" but in the next paragraph you said he loss everything by "trading". Which I think the those two are different thing because if you invest at Bitcoin anytime you could decide whenever you want to sell even if it's on low value as long as you are holding then it reaches your aim value then you have a profit. While trading is like a short time you could earn money but the fact that it's too complicated since it's more riskier than investment. Some investor would literally try things out especially if they heard that there are some easy money like in crypto.

Because they have the mindset of high risk, high reward but if you don't have any knowledge about it then most likely it wouldn't succeed especially in crypto. Because in some investment such as business, we all are aware on how to run a basic business so even a simple knowledge would do as long as you have the funds. But never ever risk something that you will be needing just to risk it on something you don't know, it's just the dumbest thing to do.

What kind of storytelling is this? Your friend sold his property and then lose it all because he doesn't know how to trade bitcoin? I doubt your used margin trading knowing he is a newbie and does not know much about trading. If your friend bought bitcoin then he didn't lose it all then? Was he hacked?

And then you felt pity for your friend and then you teach him how to trade and invest? And he is now doing well and happy? So you are a very very good trader then? Maybe you should also post in trading discussions and share with us your technical analysis and your favorite indicators.

As OP said, his friend is trading not investing and I think he is trading futures so the loss is understandable. But I also doubt what OP said, I don't believe anyone would easily sell land to invest in something they know nothing about. If it is a savings or a large amount of money I have no doubt, but selling the land is another matter.

But OP's story is also a reminder for newbies who are intending to invest in bitcoin. They should have knowledge before wanting to invest and should only invest with idle money, the amount that they can lose.

That's also what I thought, he might be doing Margin trading or Futures trading which would certainly be very risky for beginners who don't understand anything about trading.

He probably used high leverage and bought with all his money. There will be no loss when we buy Bitcoin and hold it.
But if trading in futures and not for the long term, then there will be a lot of losses, because it does not have good trading knowledge.

LOL, he seems to be a FOMO with wishful thinking of getting huge profits from investing in bitcoin from people's stories through social media or news that are read and heard, the second mistake he sold his property which made him think he lost everything, of course having that understanding is the most important thing in any business and investment, without understanding and knowledge it is the stupidest decision.

And investing in bitcoin will get you a big profit if you hold on to it in the long term, that is a fact, rushing in the hope of making a profit is ridiculous in investing especially investing in bitcoin, unless god wants bitcoin to be accepted as a means of payment around the world a few days after he buys bitcoins. ;D

Having a knowledge is a must when a person is going to invest or trade. If you are profitable after investing and trading without having a knowledge in Bitcoin then what you're doing is gambling. Gambling is just a matter of chances and there is no guarantee that you will be profitable in the long run. When you're going to trade, you have to be knowledgeable about Bitcoin because there is a higher chance to lose than to win. Even those who are knowledgeable and profitable sometimes lose consistently, how much more if the person who trade don't have enough knowledge. So knowledge in trading is necessary.

Learn* not lean. 

I have to ask, why does it always have to be about "investing" and "profits" when it comes to bitcoin?  I'm not trying to come down on you, but that's not what learning about bitcoin is all about.  Learning about bitcoin is understanding why it was created, how it functions (the blockchain) and things like how it could change the way we look at and use money and how we use "money" moving forward.

Profits and what not are great, but lets not forget bitcoin is inherently NOT an investment.

Absolutely. You have to know where your money is going in order to ensure that you know the risk of the reward you are hoping to get. Without any background knowledge, it will be a gamble to invest blindly. It's like you are just handing your money and letting whatever you invest in decide whether you will get your money with a profit or none of it at all. Having knowledge is like having control, well at least a sense of it.

This is common problem in our investors and they  think that the profit is lying on the ground, all you have to do is pick it up. Without knowledge its very hard to understand the full system of any thing and this happen with your friend that he did not get knowledge properly and faced loss.

I believe that currently BTC is very good investment and holding btc is required to enjoy the future life but i am against to sell property (needed) or taking loan because Bitcoin is volatile coin and no one give guarantee that btc price will rise from your buying point and very possible that it will down and then you have to wait long for recovering. we should use only our extra fund, no matter if we start from low.

This is the reason why many people easily got scammed in the cryptocurrency industry and later started blaming the cryptocurrency industry for the scam. Sometimes I do wonder why someone who wants to be successful in any business and will just invest without having a proper knowledge of where he/she wants to invest, but I think it is the eagerness to make it quickly that is what makes some people jump in and invest money on what they don't know anything about but are just confused by people's sweet words. So to be successful in any form of business, you need knowledge about it first before you invest. Assuming your friend calms down and gains good knowledge about cryptocurrency, it would have not lose money by now and should just continue accumulating, which will give it hope for more profit.

Knowledge is the first step in any form of business that a person needs to consider because it is what will make someone decide if the business or investment may be worth putting money into. I believe your friend has learned from his mistake, which is why he decided to learn and pay more attention to what he is learning. This will seriously be a great help to your friend, but my advice to you is to tell your friend to also start to do more research on his own and not only depend on what you are teaching, and I believe that will seriously help your friend.

Be it a true account or a work of fiction, opting to funnel substantial resources devoid of any reservoir of knowledge is an egregiously imprudent course of action. Even I, personally, meticulously weigh each expenditure in accordance with my erudition. This dynamic is inextricably tied to the financial acumen of each individual.

I am firmly convinced that real estate prices across the globe do not come cheap, implying that those who venture into Bitcoin investments sans a profound understanding of the intricacies of the Bitcoin market are, frankly, making an ill-informed choice. Relying solely on luck as a decision-making strategy is hardly sustainable. Acquiring insights into the Bitcoin market serves as a valuable tool to amplify the prospects of investment optimization.

Therefore, if you happen to be in close quarters with this individual, do extend a helping hand in acquainting them with the nuances of the Bitcoin market.

It's just that it's reasonable not to do that, I also had errors of this type, but not as pronounced, that is, the loss wasn't much, but imagine that I suddenly decided to sell a property and start marketing without knowing anything, I think that was very extreme, if you are a rookie for more reason you should have been careful, you were going to explore unknown territory, but well, there are people who have enough to not care about losing, and I really hope it was the case, because or if not, sincerely people You must be aware that money is not a game, many find it difficult to keep up with this inflation to decide one day to gamble it all away and end up in ruins just by seeking to quickly increase their assets... it is a resounding mistake to do this.
You did well to help your friend, thank goodness and he still had a chance to recover... and I agree with you, impulses are not always good, you have to be prepared, and practice before getting into any business, whether crypto or not .

I beg to disagree that your friend lost all his investment from trading Bitcoin. What kind of cock and bull story is that? Probably he invested in some shitty altcoins and got his finger burnt or probably you are just making up to whole story.

The challenges most newly adopters of bitcoin are facing is as a result of lack of research on bitcoin use cases, for they can't clearly differentiate between investing and trading on bitcoin. Investing In a hurry without a plan target wether for a short term or long.

The price  position at which you entered your investment also determines yours duration plan for your investment to start yielding profit. Nobody really loses on bitcoin so long as they have patience with their investment, and this patience is borne by your knowledge of what you're doing.

in every thing you do, there must be a leaning ground first. many people have jumped into a business or investment without knowing the ideas of the business. and it have make them loss everything for the business. I understand here that, in any business or investment you are going into, you need to lean and master it before going to it, to avoid Losing everything. I sell some of my propertys to invest on Bitcoin and before I invested, I lean and I'm still learning. because nobody want to go into a business for loss.

Even long-term investors try to sell their bitcoins at some point in order to buy even more bitcoins in the subsequent bear market. But there is a big difference in how and when to do it, if it is done without proper knowledge, then it will lead to losses. You can just buy and wait, without any attempts to sell and buy more, in this case there will also be a profit, and for someone this choice will be the best solution if in trading he is not very good.

And for every investment, I believe we must take profits, we need to enjoy profits, that's one of many purposes of investment, even in non-bitcoin or cryptocurrency investment related.
Some also considering having fund for their trading and some are have portfolio for long term where it is separated from their trading account, you can also do this but make sure to take it serious.

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.

One should always be strict about this because it must be known when starting Bitcoin trading. A person must first have a good knowledge of Bitcoin to invest in Bitcoin. And it is possible to earn profit by investing in Bitcoin but before investing a person must know about the volatility of Bitcoin market. If one invests with full knowledge of all things then one must not face loss and earn good amount of profit. However, many people who invest in Bitcoins are seen taking loans and are often at risk, so Bitcoin investments should never be done with loans. If you want to invest in Bitcoin, it will definitely be better for you to start investing with your own savings. And before investing, you must analyze the market well and take the advice of a good professional trader.

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.  ;)

Acquiring the right knowledge for investing in Bitcoin is important, but some other important considerations should be added as well. Timing for investment is the most important thing here if you don't invest at the right time you won't get profit from your invested coins in later future. Moreover, long-term investment planning is another important pre-condition for investment. But another important factor in investing is the risk-taking mentality. If you can't bear the risk in investing then you don't invest.

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.

Something wrong brother! Because if your Friend invest on Bitcoin how he loss his all fund? I think he loss his Fund by trading. Otherwise never anyone loss his All fund. If he invest high price but he will loss 20%,30% or 50% but 100% loss in bitcoin trading is impossible. So it happen for trading. I think without proper knowledge anyone cannot profit from anywhere. Your friend need learn about crypto more and more.

And without any knowledge shouldn’t invest any where. So i think your friend did very wrong. And many many thanks to you Because you teach your friend about cryptocurrency market and how to invest. I think your friend learned a lot from this mistake. In future he will recover his fund i wish. After-all my advice please Learn more to invest on crypto. Without proper knowledge everyone will loss his fund i think.

He probably sells it off in a secret way or somewhat, like you haven't thought that your friend will kind of sell it off, but mostly in this kind of situation, for sure, he talks to him about the risk, but again, in those kinds of situations, mostly the conversation is all about profit, like how do they spend it or something, and they are sure they can gain a huge profit without thinking about losing all the money. We are also not sure if this story is true because once you've put out some huge money, you'll research as much as possible to not lose all your money.

It is not to think before investjng but rather to plan things out. Many people are dreaming to be called a CEO or someone who has an investment. But not all people are down to study something which cathes their interest. Investing into something we don't know that much of, is like simply throwing away your cash. Good if you can endure losses but why did you started in the first place, right? Things should all be planned and risks should be managed before actualizing your investment.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.

Is this thread for real? You are telling us that you know someone so stupid to sell his house to get the money to trade bitcoin without having any idea of how trading works? I must admit I have a hard time believing this is real because it doesn't make any sense. I know people are stupid but this is out of this world stupidity. I'm not even sure if there is something else behind it, like a gambling problem or something similar, of course assuming what you're saying is real...

Before investing in any place it is very important to know about it. Your friend invested without knowledge and experience due to which he lost money. Although Bitcoin is a great investment option and many people prefer to invest in Bitcoin, wherever you invest you are investing without thinking. This will result in loss. As he told you after the loss, if he had consulted and tried to learn from you before the loss, he might not have had the loss. You are right that knowledge and experience are very important before investing in any place. The cryptocurrency market in particular is a very volatile market and requires a lot of knowledge before investing in it. I think there are many platforms where useful information can be found before investing in Bitcoin, and if one has a relative or friend who has experience with Bitcoin, they should be consulted and Must learn.

It is not advisable to sell properties or borrow money just to invest in bitcoin, it is always advised to invest the money you know you can afford to lose. Bitcoin is the most reliable cryptocurrency investment but it still has it’s own risks and you should be aware by now that it’s profit is not certain, it has a 50/50 chance of success so investing money acquired from sale of properties or borrowed money will only cause tension and frustration when you are running at loss which can in turn have effects on your health.

I don't think that your friend invested in Bitcoin and lost his money to be honest. I think he was trading with other crypto and that's likely how he lost his money. Crypto trading isn't as easy as it may seem it demands a solid understanding to get started. However, if he did indeed invest in Bitcoin there's no reason to be scared. Sooner or later, the price of Bitcoin is likely to rise resulting a huge profit.

We know that the last ATH was $69K whereas the current price of Bitcoin is now less than half of that value and this current time is really a good opportunity to invest at a lower price and potentially it'll achieve huge gains when the value of Bitcoin increases in the future.

Rightly stated, one must study the market, plan his action and have a goal in mind.  Thinking before investing is a good thing but it is much better if a person can lay out plans according to what he learned about the market.  This way, an investor can see wether the investment is feasible or not.



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.

You are right, one of the easiest ways to lose money is trading futures. The OP can lose money also in spot trading, but I don't think you are going to lose everything. In spot trading, if you don't sell your coin, then there are chances of the coin recovering, and if it's bitcoin, I'm sure it's going to recover. It might just take time, but if you can hold it, it will recover. But in future trading, there is always a liquidation price, and immediately after the price has been hit, you are losing everything. That's why it is easier to lose money in future trading compared to spot trading. In future trading, most people are always using high leverage just because of the high return, but the higher the leverage, the higher the chances of losing money.

The story is kind of funny to me too, but to be honest, people are doing crazy things just because they want to invest in cryptocurrency. Most of them do hear from their friends that they are making money in cryptocurrency, and they will also decide to join blindly, and some of them do see it on social media. Most of them are always brainwashed into believing they can never lose money in cryptocurrency, which is why some of them do crazy things and believe they can make easy money from cryptocurrency.

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

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.

In Bitcoin investment, the person who lose everything are those who failed to do their research and got baited by scammers.  Aside from that, those who are weak hands and can easily be shaken during Bitcoin crash are also among those who suffers huge loss.


I have the same kind of experience about friends who were a victim of scam Ponzi schemes.  I think it is the greed that make them jump to that trap laid by the scammers since they were presented by too good to be true offers and happily make a deal with these scammers despite the warning I had given them.

If we do base up on the story then he might be able to buy up some Bitcoins and made out some futures trade and do lost it all or got liquidated? Its really hard to believe on that if someone do involved with spot and

do make out some purchase of coins then it would really be that never completely goes to zero or would be having that huge loss. Dealing up with Bitcoin or generally in crypto does involved risks on which there's
no assurance that you would be able to make money without having to embrace out those risks but of course if you do caught yourself that in a peak price because the time that you do able to buy
which the price do make out some opposite direction then you could be always having the option to hold instead for long term and would really be waiting up for that recovery which its most likely the case on
where people would be doing.

In general, then it is really just that right that we should really be thinking up sensibly and be wise when it comes to investing decisions which it isnt only limited on Bitcoin or crypto
but also in other ventures as well. We are talking about money that we do used as capital on here and we should do our best on trying out to survive or sustain.

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.

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.

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.

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.

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.

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.

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

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.

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.

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.

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.

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.

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.

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.

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.

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

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.

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.

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.

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.

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.

From what you said, I have a feeling that you make money from bitcoin trading pretty easily. Honestly, I don't see many people who can make money from trading let alone make a huge amount of money. It sounds simple, but entering the trade and making a profit is not as simple as you are saying.

And you're saying, he made that huge amount of money back after losing it all? I wonder, how much time did you and your friend spend doing it?
You are confusing me more with your story. How can a person after selling his property and losing it all because of bitcoin trading, but then suddenly he can earn back a huge amount in bitcoins?

What did I just read? After such an article, there is usually an advertisement for very cool courses "How to become a cool trader from zero in 5 minutes and earn $ 10,000 every day."
Seriously, how could he lose all the money by investing in bitcoin, he could lose a third of his invested money or half, but how is it to understand that he lost everything?
When he lost all his money, why did you tell him that he should wait for the price to come back? After all, anyone who has even heard a little about bitcoin knows that investing in bitcoin loves patience.
A very interesting story, if it is true. There was a friend, he sold everything he had, lost all the money, but then I explained to him how to trade correctly and now he is doing well. Can you tell us this secret?

In general, you are right and I agree with you that sometimes you have to fail a lot in order to succeed and many people stop working and think that it is none of their business. What the author described is a very interesting story. This story speaks of the enormous risks that a person is exposed to when he invests money but he does not have knowledge, experience, skills, but he has confidence.
The man heard that someone got rich on bitcoins and he thought that he could also. We must never forget what can happen if you invest money without basic knowledge

Actually pretty confusing because it's not that easy to most people to recover from a huge loss, some wouldn't even risk for once after losing a huge amount of money. It would take a long time to learn from that mistake because you can't rush to learn something that fast especially crypto since it's pretty complicated that you'll have to familiarize yourself. If your friend risk all of his property just to recover his loss then good for him but that's a huge risk so in your case OP, it's pretty confusing. Trading is much more complicated and riskier but more quick than in investing if he risk it all then good for him he profited.

Futures trading is really risky, especially when using high leverage. With the use of high leverage, although there are attractive profits, there is also the risk of losing money quickly. Even with attractive returns, it can also lead to rapid loss of money if not managed well.

Whereas Spot Trading and holding the coin can be a safer way to face market volatility. Holding Bitcoin can be profitable in the long run, but it takes careful planning and doesn't let yourself get too greedy.

If you have lack of knowledge, and you invest blindly in Bitcoin, of course, you will lose money. Even if you do not trade with crypto, still if you buy bitcoin near its all time high, then you will be carrying the bag of bitcoin for the next cycle and you may have to wait for a few years before the price return to your buying price. Most of these inexperienced persons will sell their bitcoins in the loss and later claim that they have lost money because of investment in Bitcoin.

Some people may be lucky if they blindly invest in bitcoin, and the bitcoin is near its low price and they will gain profit but it is better to first learn about bitcoin and then invest in it.

On investment of bitcoin it has different phases and it sometimes you need to understand the moves of bitcoin between the years.
And investing on bitcoin is not a bad idea, the only things is that bitcoin is not really predictable, people may say it predictable but to me it only depends on what happened that affect the moves.
It may go higher or go lower.
It is left for you to study more and do what you think is right that you came up with, because I may tell you to invest but it not the right time.
In conclusion everyone should do there own research on bitcoin.

You are right, mate, although every aspect of crypto requires proper knowledge and experience, trading requires one to be really experienced and knowledgeable about the Trading idea or really be decisive about whatever their trading decision is. But holding is less risky in the sense that if one invests in Bitcoin and is patient enough to hold it for a long time, there's every possibility that they can make more profit. Some people think that trading is just more profitable, and after going into it, they just end up spending all their holdings on short-term trades for the sake of looking for a quick and short-term profit.

In the cryptocurrency market, if someone wants to spend all their money it is very fast, but to earn money is not simple and not fast. So to be honest, I'm starting to doubt and distrust the OP's story, it's more like a made-up story. Even the top traders can hardly be sure of making a large amount of money in trading. But from what OP said, it looks like he was a savior for his friend for helping him get back those big losses. I don't believe what the OP said.

OP's friend is not the first case, there have been many new people falling into the same situation because of their arrogance. They will only realize their mistakes and listen when they fail.


Yes, it will take a long time for him to start again after losing everything, but as long as he doesn't give up, nothing is impossible.

For me newbies should avoid trading altogether, long-term holding is the best method for newbies. But like I said, newbies will be very greedy and won't listen to anyone until they stumble. They prefer to make money fast rather than waiting and that's why many newbies dive into futures trading or shitcoin investing without choosing bitcoin and holding it for the long term.

A person is not doomed to failure for all time just because they have a setback. Regarding the strategy used by your friend, each person has a different tolerance for risk. Some recover quickly, while others mope and pout. Your guy is braver than others if he's willing to risk losing his possessions in order to get it back. What about your assertion that trading is faster than investing but riskier? That's an oversimplification. Due to their ignorance of market dynamics, many traders lose out. So perhaps understand the nuances of both trading and investing before you express your comments

Your friend is so innocent that anyone will tell him to follow this field and he will follow it. I know everyone is facing troubles in life but following everyone and don't know how to do it is not an act of wise man.

I think selling a property to make investment in that field which you don't have any information is a big mistakes which is done by lots of individuals because they desires to only get more money which is greediness as well as bad idea which cannot give you anything without regression.

Hmm, I had replied to Op on the incident but still, I don't think a person who doesn't know the ABC of a market had enough passion and guts to sell the property for it to just take an entry for extra Bucks. At one point we can ay he is greedy but he cant be deaf or blind while investing in such a market.

Haha, No one can make me such impressed to invest in a place about which I do not have strong information even though he shows me the greed gardens of 100x profit on my investment because every investor takes the approach to make sure his funds should be safe first after that he thinks about the other profit like things. Seems like his friend was overexcited or more confident in somebodies else words.

Greedy he sees other people making big profits in bitcoin trading he is like stubborn with the belief that he can make big profits in reality we don't know how he will experience losses later, because he doesn't have any understanding in this field.
Let him feel or regret it later.

All the same before investing know everything that is needed, but he only believes the words of his close friends, he does not make his funds safer, while I always think about it, let only luck that can benefit not from any info he has.

When it comes to trading, we are all talking about risk and every crypto enthusiast understands this atleast those that have given it a try. Trading is not something you can rely on especially when you have failed to gather proper knowledge about it, it would be very difficult and a little frustrating too because like you said one can lose a lot when trading. While an investment is not all safe too but that's if only you don't know what you are doing and many people fail to understand the whole logic thats behind a Bitcoin investment which can lead them to succeed.

This is very very interesting! I read this from the beginners and help board as @OP created a topic there


@OP you are playing with us lol, how can you teach that person when you, yourself admit that you know nothing about Bitcoin?  So I am thinking that the story is made up...

Anyway, the reminders of thinking before investing is a good thing though.  We really need to exercise caution and observation before jumping into conclusion if the investment is for us, or if we have the ability to make our investment successful.

and if you venture in futures without prior knowledge, this is one of the easiest to liquidate your funds. so if you are just a beginner, better go for spot trading and see where will it brings you. this is why everyone should do their homework before jumping on this market. it may give you good profits but that is if you already know the ropes.

Many people got to lose their money due to the wrong decision. Some got greedy and fall into futures trading thinking that it was okay and would give them huge benefits over spot trading. Yes, Everyone should know what is trading all about and knows how to choose the best place to stay. And most of all, we also have to consider our capabilities as trading is too risky. The moment that we know how far is our knowledge with trading, we also know what we are capable of.

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.

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.

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.

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.

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.

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.

>> 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.

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?

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.

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.

Maybe the story is quite short so it's like a made-up story or making it up but to be honest I found people like this in my neighborhood, he saw his neighbor succeed because of investing in bitcoin, which made him interested in investing in bitcoin, but he didn't know how to make a profit from investing in bitcoin so that made him lose.
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.

Not only in making an investment, you will experience risk; every action we take will also experience risk, so it is true that all risks can be minimized in such a way by continuing to study and knowing the character in which we are going to invest, so that there is the ability to be more careful in action.I agree; the same goes for investing in bitcoin. There will still be risks, but the possible risks will be smaller compared to other investments because investing in bitcoin has been tested and always provides proper profits. patience, don't panic quickly, and it takes enough time because investing in bitcoin is indeed a long-term investment.Once again, learning all the time about the characters involved in investing in bitcoin and what actions will be taken is very important and must be constantly updated because developments are always changing rapidly. All of these will be experiences that might be useful in action.

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.

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.

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.

On every investment, there's always that accompanied risks on which it would really be just that so normal that you would really be needing up to deal with it and wont really be making yourself that blinded nor not be wary

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.

Another vital thing to consider when buying Bitcoin is about the person job status because if you are the type of person that has only job and of which payment or salary is not that good then  having or saving your Bitcoin will be stressful because there would be couple of times in which you will be tempted to actually sell of your coins or a portion of it when you are faced with some kind of difficult situation which is why securing a job is very much important if you are really serious about the having so value in my walk.

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.

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?


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.


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 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.

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.

>>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.

>>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.

>>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.

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

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.

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.

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.

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.

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

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.

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.

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.

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.

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.

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.

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  

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!

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.

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.

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.