Many people are thinking  to take advantage of Bitcoin's price now by selling and buying when it dip again before the bull run start since many are saying bear market is yet over and Bitcoin will drop again.try to study well on own before you take any action.

After all this, why don't you keep doing this, selling at the top and buying again after a correction, to make more and more money?

There are several problems with this approach.

Why would you sell an investment you think would be successful in the long run in order to prepare for a decrease you think will last only a short while? As a result, you bear the additional danger of being wrong because a decline might not happen (when there are already so many).

Selling and trying to time the market gives you two chances to be wrong: either the downturn won't happen or it will, and if you have to decide when to invest again, it is not that easy.

There might be a third error you could commit. following the sale of your assets. What are you going to do with the money up until the dip happens and you decide it's time to enter the market once more?

Successful sellers may find it challenging to judge when it is time to enter the market again, which may cause them to hold off until prices are lower and never take a position again.

Finally, how do you handle this case where you are wrong and there is no dip? Will you be able to accept the psychological by overcoming your regret and taking a higher position?

Therefore, selling in an effort to time the market is typically not a wise idea. Possibilities to do so are uncommon, and only a small number of people possess the ability to take advantage of those opportunities.

It is not in your best interest to get into a game where you are up against traders who are more skilled than you are.

Applying the most effective approach which is also the simplest is in your best interest. Buy, hold, repeat frequently, and be patient.

Never think of using cryptocurrencies as your only source of income; always have Alternatives for it, if really you don't want to endup in nothing. See what happens to my friends for making crypto as their only source of income.

When my friends started cryptocurrency few years ago, they seriously engaged in trading, but I knew nothing about trading then, I was just learning from them, during this last bull run, some of my friends that started trading, decided to quit there job just because they believe the money they are making from trading is sufficient for them and they don’t have to be stressing themselves going to office everyday since they can make enough money from cryptocurrency without going out. I advised them not to quit but they didn’t listen to me, now that we are in bear market, all of them have been frustrated since they are not making money from cryptocurrency and they already left their job and is not really easily for them to secure a new job, currently coins are down and this is the best opportunity to buy more coin but unfortunately for them they are selling the coins the already bought to keep for long term just to take care of themselves.

making cryptocurrency your only source of income is a bad idea, you should be expecting money just from one source, is a really bad idea, most people can’t really hold there coins because cryptocurrency is their only source of income, which whenever they are in need of money they endup selling the coins which they purchase to hold for a long period of time, but if you are having other sources of income whenever you are in need of emergency money, you won’t sell your coins, you can get money from those other sources of income you are having. So even if you are into cryptocurrency fully, I believe you should have other business which you will be running to support your cryptocurrency investment, and with that you will be financially stable, if you are holding a coin you will be able to overlook it for long period of time without selling because you don't only depend on it for survival.

My advise to all newbies is that when we join crypto space, don’t quit your job just because of the amount you are making from cryptocurrency, we should always try our possible best to have another source of income so that whenever things goes wrong we will always have backup.

Always remember that Rabbits are always having 3 holes in the Bush to escape Incase you blow smoke for him to suffocate him and make him Run out...

introduction of Bitcoin has improved my lifestyle, despite it hasn't significantly improved my financial situation.Despite hearing about bitcoin and even learning about it from friends, my experience with Bitcoin and cryptocurrencies in general has only been a few months back. When I purchased my first $30 worth of Bitcoin  from my friend who introduced me to Bitcoin in year period of March but since then, the value of Bitcoin has fallen. But that doesn't move at all, do that I have  I performed more research on my own during this current semi-bearish period instead of declaring, saying this "Fuck this, I'm out." As a result, I became more knowledgeable about the world of finance and have never stopped buying since. both in the upward and downward directions.

Even though my bitcoin investments is not moving well, getting into crypto has taught me how to be frugal. I have gained a lot of knowledge about the stock market, charts, and economics in general all stemming from my interest in crypto.
I didn't have any future investment plans before  getten into crypto. my plane was save everything in bank in savings account. Before I paid no attention to inflation, the state of the economy, or my financial future ( besides being a graduate ).

Even if I never achieve financial independence through Bitcoin, I will always be appreciative of the positive impact it as  added on my life.
And once more, I want to express my gratitude to the forum users for their advice.

Hello to everybody! Since I am a newbie , I would love to share this with my other newbies because I firmly feel that we are the ones who fall prey to ignorance the majority of the time.

Please let us be cautious when choosing which coins or tokens to buy. I've found that most of us newbies simply buy because others are doing so, believing that the coin or token will continue to have more value as it was introduced by someone we  love so much until they discovered it end up in nothing but only scam.

Always keep in mind that anyone can generate cryptocurrency coins or tokens as long as they have the funding to do so.

 Use of celebrities to mislead us.
After creating coins or tokens, their goal is to recover and double the money they invested. To do this, they use various strategies to make it appealing to people and promote it on various social media platforms, likely using celebrities.
Celebrities are sometimes used by new initiatives to draw attention by giving the impression that they invested a certain sum of money and received a return on it, but this is a lie—the celebrities actually work for the projects because he/she have been paid bfor it.

Please resist the urge to buy any token or coin because of your passion for a particular celebrity. Before you purchase any of these tokens, do further research. Always remember that even celebrities are after money. Allow yourself to be guided to avoid scam projects.

Source : https://www.bbc.com/news/technology-63116235

I've noticed that scams are becoming more common on a daily basis, and scammers are coming up with new tactics to steal from people, so I believe it's best to secure our funds. Newbies like myself makes up a larger portion of scam victims, I'd like to share some scam pattern, which I believe some people might think is already been known by everybody but I know there are still lots of newbies that will fall for the scam, so I know this post will be helpful to newbies in the forum.

1, phishing link; most people receive links which you will be asked to click the link and input your details in the link, we should always avoid that, don’t click on random link’s, the links are been shared on socials, most especially on Telegram, if you drop a message on telegram group, you will receive random messages from different people and they will change their name to customer support, they will be acting link customer care and you will be send a link which some will ask you to input your details, some will ask you to connect your wallet address, always make sure you don’t respond to any private message you receive on telegram trying to act as a customer support, all of them are scammers, a customer care will guide you on what to do in the group and they won’t message you privately.

2, fake crypto exchange; scammers have advanced to the level of creating fake crypto exchange, just to defraud people, that’s why we have to be very smart when using a exchange, we should make sure that we are trading on a reputable exchange, most newbies don’t care about the exchange which they are trading on, they believe all exchange are the same and most of those fake exchange provides bonuses which will encourage people to use there exchange, immediately you deposit to make withdrawal will be kind of difficult.
some of them will clone a crypto app on playstore, mostly there is always a little difference in the name, so you have to be very careful when downloading any app on playstore, most preferably make sure you get link that will direct you to the application on playstore from there official website. Sometimes people create a app that’s yet to be launched on playstore and they will launch it on playstore, anybody that download and input details on the app, your account will be hacked because they are already having access to your account. For example let’s assume binance exchange is just having web alone and they are yet to launch their app on playstore, someone might decided to design a app and they will launch it on playstore, any one that see it will think the app belongs to binance.

3, giveaway scam; mostly newbies are the once that mostly fall for this kind of scam, crypto space is not where free money is been shared, you have to work for your money. Sometimes you will receive some coins which after receiving it, some of them will be listed on exchange like pancake, if you try to swap it they request for high gas if and after confirming that you want to swap it, the gas fee will be deducted from your account and your transaction won’t be successful. There are other patterns they use to scam through giveaway that’s different from the one I sighted as an example above, we have to be very careful and to avoid giveaway. Sometimes you see on social media like Twitter that a highly influential person is running a giveaway, we should avoid posts like that, most of them are scammers.

4, fake bitcoin recovery service; their are some people claiming to be bitcoin recovery service, they always claim they can recover your lost bitcoin for you which some of them will request for your private key or your private details which at the end they will endup stealing from you and won’t help you recover any bitcoin, we have to be very careful because mostly newbies are the once that fall victim of all those scam pattern, if your bitcoin have been stolen, Don’t believe any crypto recovery service.

5; Ponzi scheme; Cryptocurrency is not a Ponzi scheme so we have to be very careful, scammers are everywhere asking people to invest in some sites and in few hours or few days, you will receive double of your investment, or huge return of your investment without any risk, all those investments are fake, we have to be very careful, the huge return in investment always encourage newbies to invest in it which at the end they endup losing all their money to ponzi and they will blame bitcoin or cryptocurrency for that.

Hello! I am newbie and my purpose to be here to learn more about Bitcoin and I  believe I can provide strong security to my Bitcoin with this forum guidance.

If a transaction happens and it verified on a blockchain and the miner receives Bitcoin for the proof of work does is the Bitcoin miner received count as another transaction that then itself has to verified  and add to ledger Or the transactions only verified and added to the ledger occured when Bitcoin is sent between and individuals rather than earned through mining?

Hello everyone! I'm a newbie in this forum, but I've done some research and would like to offer some advice to my fellow newbies. I am aware that I am open to correction and that I am not in the position to offer advice, but I believe that the following points will be of assistance to my fellow Newbies.

1. As newbies, Never respond to unsolicited messages from people offering you financial advice or any other form of offer; they are virtually always frauds, and if you respond, the con artists will find a way to convince you. Please make every effort to avoid strange messages..

2. Newbie avoid day trading and mining Unless they have a thorough understanding of bitcoin, because Most people who engage in day trading, which are very professional also lose money and you cannot mine effectively with your PC and must get specialized ASIC rigs which very expensive, so as newbie stop thinking about mining.

3. Make sure you have an emergency savings account for fiat currency in case any emergency demands arise before investing in bitcoin by conducting some basic research.

4. When you first start investing in bitcoin, do not anticipate becoming wealthy within one to two months. Rather, you should wait one to two years before you even think of taking profit from it.

5. Purchase Bitcoin and withdraw it to a personal wallet so that you may genuinely own it; never keep it on an exchange or web wallet. This is because exchanges are vulnerable to hacking and are not secure.

6. Pay close attention to backing up your wallet (the software that contains the key to your Bitcoins) and, preferably, keeping it offline in a secure area. Typically, you write phrases words, on metals, on a piece of paper and hide it in private places likey two places.

7. Due to the fact that these tokens are scams, beginners should stay away from altcoins, tokens, and ICOs, at least initially until they understand more about Bitcoin basics.

8. Don't put too much pressure on oneself to know everything about the world of cryptocurrencies right immediately; it will take time to completely understand it. It takes time, effort, and continual learning to develop the full potential of your virtual money, whether you want to utilize them for trading or regular transactions.

Thia post is open for corrections from everyone in this forum, I will be glad if I have more corrections and guide.

[HOT WALLET]

I discovered that the majority of us newbies are unaware of the distinctions between the two types of cryptocurrency wallets, hot and cold wallets, and which one is the best to use, so I decided to share my thoughts with them. As we all know, wallets play critical roles in protecting our cryptocurrencies.

A cryptocurrency wallet is a device or program that enables users to send, receive, and store fund.

Let see the difference  hot and cold wallet and where is best to be use.

HOT WALLET
A hot wallet is one that is online, quick and easy to use for bitcoin trading or spending, but it is also vulnerable to cyberattacks, which can result in lost or stolen bitcoins, for example. Edge wallet, coinbase, and Metamask

COLD WALLET
A cold wallet is one that is not connected to the internet, such as paper, USB, and other computer storage facilities where the private key can be kept, such as CDs.

Wallet selection
It is entirely up to you to choose the best crypto wallet for yourself; however, if you intend to hold Bitcoin, it is best to use a cold wallet. However, if you are the type who spends all of your time on your phone, it may be best to keep some cryptocurrency in a mobile wallet.

Also make sure the wallet is non-custodial wallets that you always retain the private key, and  you have total control over you fund.

If I decided to be using lightning network channel, after I have gotten my appropriate wallet for it. How will I now connect my wallet or will the wallet automatically connected main blockchain?

Secondly must recipient also be on lightning network channel before the transaction can take place.?

I have been going through to learn more about the technical aspect of bitcoin. I came across somethings that are still not yet cleared to me. I have decided to ask here maybe I’ll find a more understanding explanation to it.


1. Does miners get rewarded for their effort (computing power) that have been contributed during mining even if they never get to mine a block?

2. If the owner of the 51% of the total computational power decides to cheat, can he/she change the value of the bitcoin reward (say from 12.5 to 1000 bitcoins) and add them under his account?

I am so glad to see this kind of information because these are the true positive ways for cryptocurrencies. I really like the ways people are now accepting  digital currency. Some major Ukraine uppermarkets are really prepared to aspect cryptocurrencies through the Binance blockchain. I can't wait to see how other nations approach this differently.

https://imgur.com/a/IGnEDld
Source : https://news.bitcoin.com/ukrainian-supermarket-chain-to-accept-cryptocurrencies-through-binance-pay

I am newbie who is very glad to be here. This farum was introduced to me by one of my friend some few month back that I can learn much about cryptocurrency here.
I 'm currently reading a topic about key private key, so i got confused.

I saw a sentence like private key is used to create a signature that are required to be spend Bitcoin by proving ownership of found used in a transaction.

My question is now how can I create signature from my private key?