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Author Topic: Do not invest in bitcoin if you don't know anything about it  (Read 2124 times)
TennisQ8
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February 03, 2018, 02:25:19 PM
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Bitcoin is a global craze. Even farmers, students, the older, housewives ... who are don’t know what is blockchain also buy bitcoin. Because there are so many new investors investing in it in the hope of making a big profit. But actually that is not investing that is gambling.  Roll Eyes
I do not prevent you investing to make money but invest wisely. Especially do not put all the property into bitcoin and cryptocurrency. Hope people do not blindly participate in this gamble. Grin
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February 03, 2018, 02:38:51 PM
 #2


Bitcoin is a global craze. Even farmers, students, the older, housewives ... who are don’t know what is blockchain also buy bitcoin. Because there are so many new investors investing in it in the hope of making a big profit. But actually that is not investing that is gambling.  Roll Eyes
I do not prevent you investing to make money but invest wisely. Especially do not put all the property into bitcoin and cryptocurrency. Hope people do not blindly participate in this gamble. Grin

I have seen even educated people following the herd only. No one tries to do any research while buying Bitcoins or any other alt coin.

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February 03, 2018, 02:47:16 PM
 #3

That is why we have this acronym, Do Your Own Research or simply as DYOR. That would probably the lost of yours if you don't try to research the thing you'll put your investment to. Maybe those people just wanted to follow the trend :/ and that is not healthy lol. Some people I've heard says that why I'm losing my money? Why is bitcoin's price is going down where yesterday the trend was up? Dudes, DYOR.

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February 03, 2018, 03:10:06 PM
 #4

But as a software developer who's worked in banking and stock companies I know more than most people here about
Bitcoin so when I say the Lightning Network is a system of banking hubs because I am trained to understand technical
white papers like this one https://lightning.network/lightning-network-paper.pdf and network diagrams like
this one https://lnmainnet.gaben.win/ then you would be well advised to listen to what I have to say.

Your not "Investing" you are gambling on a three legged horse winning the race that won't scale, is slow and
has crazy high transactions fees by miners that instead of playing CoD are instead playing CPU-Wars

if anyone knows how to go "Short" on secondhand 1080 GPU's then please let me know

Mining is CPU-wars and Intel, AMD like it nearly as much as big oil likes miners wasting electricity. Is this what mankind has come too.
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February 03, 2018, 03:25:11 PM
 #5

I agree with you even though this time bitcoin is a virtual currency that has a very high asset value but do not let it make us think to spend everything just to make an investment on bitcoin. and I think a very specific study of bitcoin is of course very necessary before starting an investment in bitcoin so that we will not get any losses on investments made blindly to bitcoin.

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February 03, 2018, 04:26:27 PM
 #6

The increased number of investor of bitcoin after the price boom sure is staggering and wonderful, but if we come to think of it, a number of them have not educated themselves about all sides of the bitcoin and some even haf no idea, they just wanted to invest because it has a high value. To me it's not that good and it angers me knowing that these people were the ones that would immediately sell their bitcoins at the slightest decrease in value. Further putting bitcoin at a disadvantage.

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February 03, 2018, 04:29:11 PM
 #7


Bitcoin is a global craze. Even farmers, students, the older, housewives ... who are don’t know what is blockchain also buy bitcoin. Because there are so many new investors investing in it in the hope of making a big profit. But actually that is not investing that is gambling.  Roll Eyes
I do not prevent you investing to make money but invest wisely. Especially do not put all the property into bitcoin and cryptocurrency. Hope people do not blindly participate in this gamble. Grin
Many people got rich on this, including me. And you say do not invest in it. I gladly invested more.
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February 03, 2018, 04:34:50 PM
 #8

Many people got rich on this, including me. And you say do not invest in it. I gladly invested more.

You're not the person he's talking about. You are here on the forum, reading topics, learning about it. Many investors don't do any research and never join any forum, they just see something going up in value and put their money into it thinking it will continue like that forever. Then they get carried by the wave, start counting their profits with the money still invested in a coin and suddenly they wake up one day and see the chart went back below their entry point. They panic and sell at a loss. A typical story of a sore loser investor that later turns into a hater. He goes around saying how this is a scam and how he lost money. Sad but true!

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February 03, 2018, 04:39:33 PM
 #9

I agree with the opinions you give. Probably less knowledgeable about bitcoin should not invest in it. I think they have to have enough knowledge about bitcoin to help them prepare to deal with the risks. I do not want to see the fear and hastily sell all the bitcoins when the price drops despite knowing that it is not conducive to them.

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February 03, 2018, 04:39:44 PM
 #10


Bitcoin is a global craze. Even farmers, students, the older, housewives ... who are don’t know what is blockchain also buy bitcoin. Because there are so many new investors investing in it in the hope of making a big profit. But actually that is not investing that is gambling.  Roll Eyes
I do not prevent you investing to make money but invest wisely. Especially do not put all the property into bitcoin and cryptocurrency. Hope people do not blindly participate in this gamble. Grin

I have seen even educated people following the herd only. No one tries to do any research while buying Bitcoins or any other alt coin.

That's because they are greedy and they want quick profit from bitcoins, they wouldn't ever use them to pay for products, they just hope that price will go up so they could sell it. I think that people that buys alt coins knows something about them, as majority of newbies only knows bitcoins... So if person knows altcoins and even buys them, he knows something more about them.



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February 03, 2018, 04:42:57 PM
 #11

One could also say - do not post about Bitcoin if you don't know anything about it. Smiley

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February 03, 2018, 05:44:05 PM
 #12

Yeah if you dont know anything about investing in bitcoin dont invest your money because if you dont enough knowledge about bitcoin you will get the risk of your money. Make sure if you want to invest learn about and make some research about it so you be able to evade a scam
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February 03, 2018, 06:18:17 PM
 #13

Real life, economic, social. There are no businessmen or traders who spend their capital if they do not know anything about the field, industry, equipment or object. The crypto market does not allow that, Bitcoin and the crypto market are potential, the opportunity to make huge profits. However, it is always volatile and at risk. If you do not find out and track it, your investment will fail. Bitcoin investment requires trust, experience and patience.


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February 03, 2018, 06:53:43 PM
 #14


Bitcoin is a global craze. Even farmers, students, the older, housewives ... who are don’t know what is blockchain also buy bitcoin. Because there are so many new investors investing in it in the hope of making a big profit. But actually that is not investing that is gambling.  Roll Eyes
I do not prevent you investing to make money but invest wisely. Especially do not put all the property into bitcoin and cryptocurrency. Hope people do not blindly participate in this gamble. Grin

you are correct, atleast know everything before putting in your money or investing into something. and also invest only what you can afford also to lose because it is very risky.  me , I am here in bitcoin but everything I invested in here comes also from the bounty that I joined. I didn't invest any single penny from my pocket.

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February 04, 2018, 07:58:56 AM
 #15

You are right, many fools, who suddenly invest with bitcoin, use all their money
and yesterday, I had heard there were some people who committed suicide, because they had a lot of losses in bitcoin
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February 04, 2018, 08:03:08 AM
 #16

This is right on the spot. There are so many people who just invest without knowing a thing or two. They just invest because they follow the hype. My number one rule in investing is knowing what you are getting into. Also they should understand the risk in investing in crypto currency. Those people you are talking about are the ones who are posting right now that they do not know what to do.

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February 04, 2018, 08:08:21 AM
 #17


Bitcoin is a global craze. Even farmers, students, the older, housewives ... who are don’t know what is blockchain also buy bitcoin. Because there are so many new investors investing in it in the hope of making a big profit. But actually that is not investing that is gambling.  Roll Eyes
I do not prevent you investing to make money but invest wisely. Especially do not put all the property into bitcoin and cryptocurrency. Hope people do not blindly participate in this gamble. Grin
Even not in bitcoin once you invest your hard earned money be sure you know what you are investing with.  In that way once there is a shakedown in the market you would not go in panic selling resulting for the loss in your investment. With the bearish market many newbie would probably sell their coins thinking it would help lessen their losses with out knowing they did wrong decision.

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February 04, 2018, 08:12:01 AM
 #18

Yaa thats the true fact . Before invest your money at first you have to ensure protect your investment . if you dont know anything about investing in bitcoin dont invest your money .Try to read and study about crypto currency .
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February 04, 2018, 08:12:29 AM
 #19

Indeed,it is wrong to blindly overconfidence in bitcoin, because if you don't know anything, you start buying BTC.
Is that a gamble? The risks of cryptocurrency market are huge.

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February 04, 2018, 08:14:26 AM
 #20

I agree very much that if you do not understand these things, it is best not to invest in it because you do not know why you suddenly lost money. By that time you will say that cryptocurrency is a lie, a bubble, a scam. I hope everyone who intends to join the cryptocurrency knows about bitcoin and the blockchain.

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