Something newbies should know about Bitcoin

[vv181]

Indeed, it's kind of ironic when we see most of the cryptocurrencies user doesn't care about their own privacy and anonymity. I mean they didn't get the point about cryptocurrency, and still dependent on centralized entities. A lot of people are giving away their identity only to participate in ICO or bounty.

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[Red-Apple]

in my opinion people who have bought bitcoin should already know that. otherwise they shouldn't have bought bitcoin in first place! unfortunately that is not true about most of the newcomers that started in 2017, they started because they thought they could make a lot of money over night. many of them don't even know what bitcoin is, why it was created, what it offers,... they just know that its price could shoot up which is why they bought it.
luckily the drop made them exit and now the market is clean of them and those that are left are already know the potential of bitcoin or are slowly learning about it. which is why they have stuck around.

[maldini]

Yes, though let's admit that not all would be proud to be a part of the said 'revolution' as those newbies who came in late are probably just in for the money, nothing more. I know a guy who bought in @ $15000 and still is yapping about it, blaming bitcoin for his not-so-smart decision to buy on an already inflated price. I tried to tell him that this will not hold long yet he still bought in saying there's more room for growth and bitcoin could easily go to $30000 because one prediction says so. They wouldn't appreciate the revolutionary part of bitcoin but just loves the fact that it could get them money quickly and easily without toiling so hard.

Cryptocurrency investment is the same as when we make a business, without us knowing the competition, the market, and how it works is the same as we are trying to make a hole that can make us fall inside. And all businesses in my opinion have their own knowledge, and without us learning it is impossible to succeed

[detector]

Cryptocurrency is a great way to earn profit with trading but it has more risk than ordinary stock trading.
When I knew crypto, I'm less interest on it until I found the way how to earn bitcoin with free.
From that time, I know that crypto may become potential investment in the future and yes , it's proven !

I'm glad that I'm hold some of them until now !

[xWolfx]

Indeed, it's kind of ironic when we see most of the cryptocurrencies user doesn't care about their own privacy and anonymity. I mean they didn't get the point about cryptocurrency, and still dependent on centralized entities. A lot of people are giving away their identity only to participate in ICO or bounty.

This is something that cannot be avoided. For mass adoption to be a reality there will be some degree of centralization in order to make people lazy about learning be able to use Bitcoin easily with no more risks than fiat currencies have.

I do care until a certain point. The rest, from my point of view is being realistic about the future of Bitcoin and the elements that will make mass adoption possible.

[1Referee]

No one shares a detailed analysis for free on social media. I have seen these publications which mainly serve to the pocket of the guy who talks loudly on twitter and facebook. Having own method and working for yourself can be better choice than asking from others on social media.

The better way to put it is; no one who's legit a skilled trader making enough profit wastes his time on social media posting all day and charging money for signals and courses.

Self awareness is what people are lacking here. If you suck at trading, aren't really interested in investing time into understanding technical analysis, then don't trade. Paying someone for shitty signals every clown here can come up with is the worst thing you can do. Flipping a coin at least provides fair 50/50 chances of winning, which signals can't provide.

If you thought this was bad, then wait for the next wave of adoption, these people will be way worse than the baboons we're dealing with right now.

[Bonsaiav]

I found this on Twitter, and thought it might be good to share. Every newbie on 2017 - 2018 who came to Bitcoin to invest, who are now holding with a loss, should know that you are here, unknowingly, to be in a revolution.

Yes, because most beginners are more likely to focus solely on the benefits, so they forget where they are standing and don't know where they are?.
Along with the development of technology, I think this revolution will continue to develop and be sustainable and bitcoin will most likely find its new golden age, where massive adoption takes place so that the government will not be able to control it.

Do not sell, buy the dip, and HOLD.

Only this's the best strategy for now and at the same time can be used as capital for success for the future.

[vv181]

Indeed, it's kind of ironic when we see most of the cryptocurrencies user doesn't care about their own privacy and anonymity. I mean they didn't get the point about cryptocurrency, and still dependent on centralized entities. A lot of people are giving away their identity only to participate in ICO or bounty.

This is something that cannot be avoided. For mass adoption to be a reality there will be some degree of centralization in order to make people lazy about learning be able to use Bitcoin easily with no more risks than fiat currencies have.

I do care until a certain point. The rest, from my point of view is being realistic about the future of Bitcoin and the elements that will make mass adoption possible.

Mass adoption does not need essentially a centralization. Why should we give away our privacy or letting centralized entities to slightly control cryptocurrencies in order to gain mass adoption. Bitcoin underlying technology has the potential to be trustless and let us gain financial privacy and freedom if we are done it right.

In my perspective, I do care about privacy and somewhere else privacy. And telling/educating them the truth is worthy. I urge them to know how privacy important to themselves, and why we should not give away our identity for any centralized entities.

[Kakmakr]

The problem with this is that most people walk around like donkeys with flaps at the side of their face. The government put the flaps there with Fiat currencies, for them not to see the financial "freedom" that we have come to see with the introduction of Bitcoin. It is our responsibility to share Bitcoin with those stubborn donkeys and to steer them into a new direction. 

You do not know what financial freedom means, until it is taken away. <Just ask China and Greece and Zimbabwe> 

[BeGoods]

Well this is a nice post, I myself didn't even read about what happen and why was this system invented. It is very much fortunate of us that such people had in their minds, the system that brought bitcoin because it did help so many lives. I think it is much better to see the whole event in a documentary.

There is an important reason from the invented of the blockchain and bitcoin itself. freedom in finance is fought so that the government does not exercise control that removes freedom from its owners. so for holders you don't need to hesitate. this is the technology of the future, the price will definitely rise

[Vaskiy]

Well this is a nice post, I myself didn't even read about what happen and why was this system invented. It is very much fortunate of us that such people had in their minds, the system that brought bitcoin because it did help so many lives. I think it is much better to see the whole event in a documentary.

There is an important reason from the invented of the blockchain and bitcoin itself. freedom in finance is fought so that the government does not exercise control that removes freedom from its owners. so for holders you don't need to hesitate. this is the technology of the future, the price will definitely rise

As stated it from Satoshi's vision bitcoin is to provide users with the freedom of finance. Initially it was good and later slowly the growth took place in all the forms. For example the usage on illegal needs and other purposes increased, but the key vision is being fulfilled. At some point people believed it as a quick rich scheme. This mistake is done by many newbies and they easily get away experiencing loss.

[Carrelmae10]

..i am once a newbie..new in crypto since 2017..base on experience..I also aim to become rich quickly..i have witness the rapidly quick of Bitcoin price value that reach its peak in the end of 2017..but as a newbie,i did not invested too much in buying Bitcoin which I am regreting that time,,thoughts come into my mind that "if I buy and invested in Bitcoin when its price is low,then probably I am rich now",,but as days passed by,,there is a continous downfall of Bitcoin price which made me think again that if I invested and buy Bitcoin when the price is high,i might have regret again because i lost half of my money..

..this is an important message not for newbie but for all of us that we should have to learn the very basic why does bitcoin created and how does this will work in the duture and how it will going ti help us..

[AjithBtc]

Not only newbies, every user at the beginning could have two forms of understanding about bitcoin. One is that bitcoin is a get rich scheme. Next thing is that bitcoin is a asset used for all form of illegal needs. Very few understand it in the right way and make use of it. Newbies need to go through the forum before making an investment, because scammers with more and more attractive scam multiplier schemes roam targeting newbies.

[ethereumhunter]

The most important thing that every trader (not only newbies) should have is knowledge or information related to the market. By learning more lesson or read about the analysis, they can be able to trade bitcoin or the other coin. When they can get much information from many sources, they can prevent from making a mistake, and of course, they can be able to make a profit. But somehow, although they are already learning many lessons, some of them still get panic especially if the market get dump in the next hour and cannot think about hold the coin and they prefer to sell instant because they don't want to get a lose.

[n0ne]

Indeed, beginners in 2017/2018 think they will get rich quick because the media at that time reported that bitcoin has increased many times. But I think now they have understood how crypto works, and they are beginning to understand to be more interested in investing.

What media described by the days of 2017 is getting repeated. I haven't seen media describing that there will be growth with bitcoin continously. I have come across media stating bitcoin and other cryptocurrencies as a source for illegal activities and media always portrayed the negative part of bitcoin. Beginners should not get to it, they need to analyze well and further get into it.

[BlackPanda]

     Cryptocurrency is a digital asset that is used as a medium of exchange  that is used to send or receive internationally without a third party influence Bitcoin is a peer to peer network  and is the first cryptocurrency .We should be careful in investing in Bitcoin we must not invest all that we have since there is a chance for losing .The depreciation may increase with a great rebound for  long run investment is a good idea .

When we have Bitcoin, we must be prepared to accept the risk. price decline is indeed an issue that can cause us to suffer losses, besides that we also have to be able to save Bitcoin security access very well. Things like that can cause us to lose the Bitcoin we have.

[Pursuer]

Indeed, beginners in 2017/2018 think they will get rich quick because the media at that time reported that bitcoin has increased many times. But I think now they have understood how crypto works, and they are beginning to understand to be more interested in investing.

What media described by the days of 2017 is getting repeated. I haven't seen media describing that there will be growth with bitcoin continously. I have come across media stating bitcoin and other cryptocurrencies as a source for illegal activities and media always portrayed the negative part of bitcoin. Beginners should not get to it, they need to analyze well and further get into it.

so far the media has mostly gone with the trend. meaning when price is rising they join the hype and soon enough all you see is ridiculously high price predictions like $50k, $100k,.. within unreasonably short time just because price is close to $20k! then when the drops begin all this changes in a blinking of an eye and before you know it the $50ks and $100ks turn into $2000s and $1000s predictions

[LUCKMCFLY]

Because of this in OP, I add that an important factor that every newbie should know, is that when he enters the world of bitcoin, it does not mean that he will become rich overnight, nor that trading will be the exit, only for be a high-tech currency and that has a high volatility.

In this world everything must be taken calmly, there are forks, there are attacks that have been made to bitcoin, bitcoin is handled a lot by the law of supply and demand, they must understand that trading is very different to the Stock Market, due because the high volatility of bitcoin movements, at any moment you may be gaining a lot and in seconds you may have lost most of the investment.

[waynechong1995]

Many ideas are spoken, actions are made but many are easily surpressed by authorities, bitcoin is indeed successfully but who knows its would be a complex ecosystem with much speculation on prices, price wars in exchanges, fomo fud, consolidation of mining power and such, it's up to present developers to do it better, and users to use it better

[denzkilim]

I found this on Twitter, and thought it might be good to share. Every newbie on 2017 - 2018 who came to Bitcoin to invest, who are now holding with a loss, should know that you are here, unknowingly, to be in a revolution.

Do not sell, buy the dip, and HOLD.

https://twitter.com/vcorem/status/1076251118747959296?s=21

Wei Dai invented b-money (weidai.com/bmoney.txt) and published it in 1998, 10 years before Satoshi. Satoshi invented Bitcoin separately. He contacted @adam3us and Adam told him about Dai work. Satoshi wasn't aware of Dai's work before that.

Both b-money and Bitcoin uses Proof Of Work. Satoshi referenced Wei Dai's work (and @adam3us work on POW) in his Bitcoin whitepaper: bitcoin.org/bitcoin.pdf

Wei Dai captured the essence of the Cypherpunk movement in the following email: https://cypherpunks.venona.com/date/1995/02/msg00508.html

"There has never been a government that didn't sooner or later try to reduce the freedom of its subjects and gain more control over them, and there probably never will be one.  Therefore, instead of trying to convince our current government not to try, ..."

"we'll develop the technology (e.g., remailers and ecash) that will make it impossible for the government to succeed."

I think it is not just for newbies but for everyone in this crypto industry who has joined the revolution to acquire freedom in our wealth and take control of our own wealth without anyone or any government interfering it. I also got into the crypto industry in late 2017 when the market is booming and skyrocketing and at that time I don't know much about Crypto Currencies and to be honest this is the first time that I see that name "Wei Dai" and I didn't even know that he is one of the first persons that the legendary Satoshi Nakamoto contacted when he created Bitcoin, anyways thanks for sharing this kind of information now I'm getting curious about this person and gonna research more about him.