Welcome to the forum.

As a start, read this: Newbies - Read before posting

After that, you should keep reading the pinned posts in each section you visit because they contain the necessary information about the section and the forum as well. Make sure you read more and post less as a newbie when you are not yet knowledgeable enough because that wouldn't look good. Post only when you need to. After some time, you will get to know almost everything around the forum, and if you are an attentive reader and have a good understanding, you will understand everything about the industry as well.

I wish you good luck.

This is one of the best benefits I can think of about accepting Bitcoin or cryptocurrencies as a payment method when compared to traditional payment methods where one can open a dispute after making the payment and taking the goods and the banks or even the authorities would start questioning you about the transaction, lol.

I have seen this happening a lot where people buy something, make the payment online, and then open a dispute through their banks by saying that it's a fraud payment and they have been scammed and guess what, your bank blocks your account and confiscates the funds when they receive the complain from the other bank which is completely absurd because they don't ask for any proof from the other party and start questioning you about it and ask for payment proof, etc.

You are right, but even if the money isn't intended to be used soon for company operations, it is still not advisable to give such suggestions because it is his company and he should decide what is good and what is bad for it so that the good or bad consequences aren't put on someone else.

If he invests the money after the suggestion from his friend and can't manage the investment in a good way and loses it or even a portion of it, the friend is going to be blamed for the loss which isn't what one would want to get after giving a genuine and selfless suggestion.

This is why I would never do such a thing, even if it's a very close friend, I would only tell him to try and find some ways to improve the company or increase the funds but wouldn't suggest something specific.

The benefit is that you won't need to look for your seed phrase when you want to add your wallet in a wallet software when you know your seed phrase isn't easily accessible, and I don't see any possible setbacks for this as long as you are also saving the seed phrase somewhere safe because as said by other members, you can't trust your mind all the time. After all, humans tend to forget stuff at times.

So if my seed phrase is easy and I know I can memorize it somehow, I wouldn't mind doing that if it isn't going to take a lot of my time unnecessarily because it's not something essential since you are usually supposed to keep your seed phrase written and keep it somewhere very safe but it's just an additional thing that you can do.

Such users usually join forums only after they are told by someone that they can earn money from those forums, and they have been given directions about what they need to do to earn money, and they keep following what has been told. So if someone has been told that they need to participate in bounties if they want to earn money, they will stay in that section right from the beginning and will stay there for as long as they stay in the forum.

Users who join the forum randomly or because of their interest towards cryptocurrencies wouldn't have that sort of a nature, they will be seen surfing around the forum, reading and maybe making posts where they feel they can, and those are the kinds of people who grow in the long run.

You should have added this point as well:

- Don't create threads and try to teach other newbies basic things that most probably are already posted more than once and most newbies already know them and even if they don't, you are not supposed to start topics that have already been discussed hundreds of times.

I often see newbies trying to teach other newbies, and they do this about the most basic things. There is nothing wrong with that generally, but only if they are teaching something which is new and hasn't been discussed several times already. This makes those newbies look bad and they will also be criticized because of this.

I think that shouldn't be the metric for us to compare Bitcoin with gold. It's true that we can't carry gold around like Bitcoin because Bitcoin is digital and it is present in our wallet while gold (if we are talking about physical gold) can't be taken everywhere. However, we can also buy digital gold, some merchants and systems allow you to buy digital gold and you will have them in your wallet at all times, you can sell them whenever you want just like Bitcoin, and get cash readily available.

If we look at both from an investment perspective, the biggest advantage of Bitcoin over gold is that it provides investment flexibility which means that a person doesn't need to have a large amount of money to start buying Bitcoin but as low as $10 is enough to get started whereas for gold, you need to buy the minimum unit and that will cost way more than $10.

If we are honest with ourselves, we know that isn't true, and that the majority of people getting interested in Bitcoin or other cryptocurrencies are only into them because of the potential profits they can get from them after making investments and they barely care about their technology or the properties and what they got to offer. Ask some random Bitcoin or cryptocurrency investors a few questions related to the technological benefits cryptocurrencies offer and they wouldn't be able to answer.

So, even though there can be a lot of people who are interested in cryptocurrencies because of what they offer and what services they can provide, most people wouldn't have anything to do with that and they are happy as long as they are getting profits and they will find another place if they seem to get no profit anymore.

Cousins? To be honest, I don't think it's a great idea to let anyone know about your investments or make financial suggestions or recommendations because we live in a time where you won't get appreciated for the good you do but you will be discriminated for the bad that you didn't even intend to do. What I mean is that if you suggest cryptocurrencies to someone who doesn't have any idea about them and if they go ahead and make an investment only after you tell them, you will need to face the consequences in case they lose their money.

If they buy a cryptocurrency that isn't good because they don't know how to do research or anything, and then when the price of that coin drops or if the project fails, they will blame you for their loss. So it's better that you don't do such things and only keep these things within the family if you know your family members understand you well.

That is like saying you wouldn't eat food again because you got sick by eating a specific food sometime in the past. Just because some projects and cryptocurrencies turn out to be bad or scams, it doesn't mean they are all bad, besides, one shouldn't make investments while having their eyes closed. You can't trust anything with a blindfold on, of course, but if you do your research, and evaluate the whole market, I'm sure you will find some useful altcoins as well.

If you don't like them, it's your choice and I respect that, and I agree that Bitcoin is the best cryptocurrency out there, but I prefer diversification and I know that there are cryptocurrencies apart from Bitcoin that deserve some investments as well because they have been around for a long time and have never disappointed their investors.

As they say, there is no free lunch, which means that whatever you get in this world requires you to give something in return whether it's your time, some effort, money, or anything else that has some value. Some people might not understand this, but time is more valuable than money because money can be earned anytime, but the time that goes by doesn't come back, this is the reason why every wise person would say that no one should waste their time on useless things because the would regret it in the future.

Anyway, coming back to the topic, some people actually consider something free if they are not paying or using any money for it, which means that if you are doing a specific thing such as completing a task or something, you are not spending any money, so it's free, but in reality, it's not free because you are using your time and efforts for it.

With the advent of the internet and the freely accessible material over it, one doesn't need a mentor anymore to learn basic things unless they don't have a mind that is able to grasp ideas on its own and requires someone to feed them manually by repeating the same thing again and again or maybe using some method that can make them memorize or understand the concepts but then again, this market is too complex for such people and they will only lose their money if they try.

One needs to have a sharp mind and quick thinking and grasping abilities and they wouldn't need a master or a mentor to learn anything be it trading or anything else in general. They can learn everything from the internet these days and it is completely free, they wouldn't need to pay a dime for it.

Whether it's real or not I'm sure a lot of people can relate to this story you shared because a lot of people make such mistakes when they are starting, especially those who believe that if Bitcoin could perform like this and reach such a high place, another cryptocurrency can do the same as well but this is purely a lack of knowledge and experience because if someone does enough research, they would know that there are altcoins as well, some of them are really good, but they cannot reach Bitcoin's level.

Now that you have started investing in Bitcoin, let me tell you that you are not supposed to invest only in Bitcoin to stay profitable because diversification is the key, there are many good alternative coins that you can add into your portfolio to have some diversification.

That doesn't make any sense, a person who does not know a market can never choose the right investment opportunity because you can only do that if you know about it unless you are lucky and you choose a random investment option and it turns out to be profitable for you, but that doesn't happen all the time which is the reason why a person needs to gain enough knowledge before they get into the trading part.

There are a lot of newbies these days who are making this mistake, they get into trading without any knowledge, they hear from seniors and see that they are earning money from trading and they think it's as easy as drinking water but they don't realize how difficult it is until they get into it and lose some money and then the realization hits them hard.

I'd say trading is for every person who loves cryptocurrencies and financial markets in general, and it is not for those who are into it only because they have heard from others that they can earn money from trading. Besides, only those who have some interest can actually learn how to trade and understand how the market works, how different cryptocurrencies move, how trading platforms are used, how one can read charts, use indicators to create strategies, etc.

Someone who doesn't have any interest in these things at all and have just forced themselves into the market to earn some money will barely get anything but they will lose what they are willing to invest because they will obviously trade the wrong cryptocurrencies and eventually leave after realizing that it is not as easy as they thought it would be.

I completely agree with that, and it is not only about trading but about anything that a person does, if they try a lot of methods, even if all of them are working, they would get confused and think that they still need to find other methods that might work better than the current ones when in reality, all of them are working well but they are just getting themselves confused.

Similarly, when you are trading, if you don't stick to a single strategy and keep looking for new strategies and keep switching, this might affect your trades negatively instead of giving you better opportunities. I know that some strategies might not work for some people, but one should stick to a strategy that they think is working and should only improve and improvise in that strategy to make it better over time.

Bitcoin was never meant to be a reserve currency for any big company or a country, it was created to be a peer-to-peer electronic funds transferring method working in a decentralized manner and having no involvement of any third-party or authority in doing anything because everything is done by the network itself. I know that it has mostly become an investment asset these days and people use it to get profit for their investments, but that wasn't what it was created for originally.

Even big companies and firms these days are utilizing Bitcoin to increase their net worth because they know it has a volatile nature and it goes up and down in value and they can use this as an opportunity to increase their wealth and have more money for their company and businesses they own and manage.

I actually think a bit differently about this subject. Although I agree that there is nothing wrong in letting young kids know about Bitcoin and cryptocurrencies or other economic things, I believe some of the concepts might be too complex for them to understand and comprehend and it might disturb their minds since they wouldn't have a vast mind and critical thinking abilities like us adults.

So maybe it can be useful to let them know the basics in a way that wouldn't make them confused or force them to put a lot of pressure on their minds, but we should let them do what they should be doing in their age which is to focus on their studies and what they want to do or become in the future. If we confuse them with Bitcoin and cryptocurrencies and other economic terms and stuff, they might get lost in all of these things.

You are right about most people not having the temperament and enough patience to be able to become traders in a market that is extremely unpredictable because along with vast knowledge, you need a lot of patience to be able to make successful trades in this market, and if someone thinks they lack any of these qualities, trading is not for them and if they still go ahead just for the experience, they will only make themselves lose money and nothing else.

Every person understands what kind of a nature they have and what qualities they posses, so it's not a question of not realizing it beforehand but it is a matter of ego, I believe, because when you know you aren't able to do something, you shouldn't do it in the first place instead of experimenting and losing money without any gains.

He should have let his friend know the reason why he had a bad experience in trading, don't you think? A person who gets into the market and starts making trades without gaining enough knowledge will surely have to face the consequences. You can't become an engineer without education and learning about the field, so how can you expect to become a trader without learning about trading and everything necessary for it?

People often don't understand this, they get into the market without knowledge and start trading without making any research or even knowing anything about the cryptocurrencies they are trading and then they complain that trading is bad, I know it has its risks but that doesn't mean it's bad, everything can be bad if not handled in the right way.