Research and Experience, There’s No Other Way!

[Cryptoreflector_666]

I read a post the other day asking for tips on how to learn bitcoin without going through the technical stuff (so they can start making profit sooner) and another one looking for a quick way to teach old people how bitcoin works. Here’s what I learned after months of observation and heavy reading on cryptocurrency inside and outside this forum.

There are NO SHORTCUTS to understanding bitcoin. You’ll find crash courses and simplified versions of the technical aspects of bitcoin but those are just to help make complex information more digestible WHEN YOU GO OVER IT AGAIN, not to help you skip certain parts. Yes, you’ll eventually realize that it’s best to re-read the stuff you refused to read the first time (when you thought it’s too much for you). With so many risks involved in cryptocurrency, you would want to know as much information about what you’re getting yourself into as you can. So, taking a shortcut is out of the question.

Think of cryptocurrency as a branch of science, because it’s as big as one. It’s not like a Netflix series that you can binge-watch in one go. Rather, it’s like the entire entertainment industry. Like a college course that takes many years to finish, it will take years of research and experience to master bitcoin. Also, research doesn’t stop as cryptocurrency is constantly evolving. Some of the things you will learn today may no longer apply tomorrow, so continuous study must be part of your daily routine.

Regarding profit, there certainly are various ways to grow wealth through bitcoin. You can invest, trade, gamble, perform tasks, write content, and many more, at least in this platform. But let’s not forget that the primary purpose of bitcoin introduction and adoption is to decentralize the financial system. More than just another income generator, it’s a campaign with a goal. Let’s find a way to contribute to that campaign. I also have a mentor btw so connecting with people who share your interest is also important.

Very good text, my friend! I would like to add that bitcoin and cryptocurrencies in General are a dynamic sphere, in which in order to earn good money, you need to always be on the wave. It is necessary to monitor the dynamic changes in the sphere and make certain decisions based on them. Learning it once and using it always is not an option.

[bunglor]

I fully agree with you, there is no shortcut if you really want to learn about bitcoin and other cryptocurrencies and the best teacher that we could ask for is our experience and next to it is our research.

[Anna138]

I'm not sure that I agree.There is a basic level of knowledge required, but one does not have to have an in depth technical knowledge. Obviously one needs to know about wallet security, and have an overview of the blockchain and transactions and fees. After all. everybody uses the fiat system, but how many people understand the role and ownership of central banks, or fractional reserve banking, let alone SDRs and the various derivatives in use at the moment.

 You don't need an understanding of the specific role of money authorities, or even the Bitcoin network, to use it, for sure... butI'd say it's one of the shortcomings of using Bitcoin, really, that people do need a bit more knowledge than basic level to safely use Bitcoin.

Right now, any given Bitcoin user is probably not using Bitcoin as it should be, and therefore, are putting themselves at a risk they don't quite understand yet. All those Coinbase wallet users, or even exchange wallet users, for example. They're okay until the exchange gets hacked or goes bust. We're getting there, but we have to accept that research and experience are the necessary tools to protect yourself when using Bitcoin.

There is one very simple solution - do not store money on exchanges and exchanges. There have already been so many sad experiences when users left their savings on the exchange and then broke it and withdrew a huge amount. I believe that it is better to pay a little more Commission and keep the funds in your wallet than to put them at risk on the exchange's wallets.

[Asuspawer09]

it will take years of research and experience to master bitcoin.

Maybe or maybe not. Some here have mastered the basic knowledge everything about bitcoin, how it works, mechanism, and its used to different application. Learning bitcoin technology speed is depend on the user capability to grasp all there is to learn. Some here can understand, and execute anything coding on bitcoin easily especially those who have knowledge with related field.

Im not totally techie guy, but somehow I understand and know how it works, and manage to execute some task like keeping my security when using off bitcoin wallets including altcoins too.

Totally agree with you with just understanding the basic knowledge about bitcoin, cryptocurrency, etc. you could already earn a good amount of profit from it. If you are just into trading you don't really need to go some technical and advanced stuff in order to trade and make a profit in it. I think what you just need is basic knowledge and experience in investing, it should be enough to make something or profit in cryptocurrency. In my experience, I don't really know about technical stuff or advanced stuff when it comes to cryptocurrency and bitcoin but I do know also understand how it works or how the market works. Still, I'm able to make a profit in it, comparing it to other technology we don't really know about it but we just need to know how it works and we already understand what is going to happen.

Still, there is no shortcut when it comes to that, a lot of people who look for easy money are most likely to get scam.

[Kez1817]

 You will learn from experience and that is the best teaching method you can use in doing trade or investing in cryptocurrency. Experience will be your teacher, school, paper,pencil ,blackboard, chalk, calculator ,etc...here in crypto space to learn basic knowledge regarding bitcoin and other cryptocurrencies.

[buwaytress]

There is one very simple solution - do not store money on exchanges and exchanges. There have already been so many sad experiences when users left their savings on the exchange and then broke it and withdrew a huge amount. I believe that it is better to pay a little more Commission and keep the funds in your wallet than to put them at risk on the exchange's wallets.

It's one solution to one problem, but not the fix-all solution. And that's really the approach of all these "8 principles" or "5 rules" or whatever in crypto... being the sole owner of your private keys being one of them -- and keeping bitcoin on your own wallet doesn't actually really solve the problem of being safe, it removes ONE risk related to control.

[shoreno]

You will learn from experience and that is the best teaching method you can use in doing trade or investing in cryptocurrency

what about research ? experience mostly happen on the past  . you dont need to get stuck on that past learning arent you ? but you need to research new things to grow .

. Experience will be your teacher, school, paper,pencil ,blackboard, chalk, calculator ,etc...here in crypto space to learn basic knowledge regarding bitcoin and other cryptocurrencies.

lol thats too complete .  all materials that we use in school ? what you saying is literaly studying in a classroom . teacher is a word that is enough to use . you need research again to advance from the basic learning that you already learnt especially if you want to get involved on other unfamiliar cryptos and on trading as well .

[sammyp]

Even though understanding is very necessary in every thing one decides to do, I believe we can always limit our understanding to the most important aspects. In the case of bitcoin what I needed to know most were:
1. What is it?
2. How does it work?
3. What are it’s merits and demerits?
4. How useful is it to me?
5. How do I get it?
Most of the times, we do not need to know everything. A little above what meets our needs is always okay.

[CaVO32]

Even though understanding is very necessary in every thing one decides to do, I believe we can always limit our understanding to the most important aspects. In the case of bitcoin what I needed to know most were:
1. What is it?
2. How does it work?
3. What are it’s merits and demerits?
4. How useful is it to me?
5. How do I get it?
Most of the times, we do not need to know everything. A little above what meets our needs is always okay.

I agree, but when you go deeper and explore your opportunities with other alts, you need to know more than the basic information. But to start with your crypto journey, those above questions will guide you on how to acquire those info. Because if you overwhelm yourself with things you want to know, it will not be healthy in my opinion. As you will tend to make mistakes in your decisions and overlook important things that you need to consider in the first place.

[LogitechMouse]

I agree with this that research and experience is the key for you to master Bitcoin and all of its contents.

With that, I will just add that having a mentor will shorten the time frame that you may use to learn all of it. Add it with the research and experience then it will be a good formula for success . Lucky for those who have mentors since they will know Bitcoin easier. In my part, I just learned Bitcoin myself. I'm just lucky that I know already the basics of it and don't want to learn the complex things anymore. Learning the basics of it is enough for me at least.

[lienfaye]

Its important to gain knowledge in anything you're getting into, its the key to understand better the nature of the investment (regarless what field it is) so you can make your own decision of engaging yourself on it or not. On the other side experience is the best teacher for us to succeed, there's no shortcut to earn and we need to experience how to lose sometimes in order to understand the things that we need to do the next time.

IMO you don’t have to be a genius in order to create and receive a transaction, and make a profit. You just have to learn the basics THEN you can expand from there. The points in the OP is good, and should be noted by newbies who are seeking for immediate gratification on their efforts in using bitcoin.

Indeed. We dont need to become an expert, as long as you know the basic things it will start from there. Your experience will teach you to learn further.

[MCobian]

Many people experience failure when investing in Bitcoin, this happens because of lack of experience and research.
Therefore, if you want to succeed, there is no other way apart from doing some research first to be able to make
a profit when investing in Bitcoin. Never be lazy to do research every time you invest, not only in Bitcoin, but investing
in altcoins is also very important to always do your research. After doing your research, do as much practice as you can
to gain experience.

[AakZaki]

what about research ? experience mostly happen on the past  . you dont need to get stuck on that past learning arent you ? but you need to research new things to grow .

Researching new things to improve is a very important one to do. research gives good results and gives you insight into what is being researched.

experiences to remind events in the past so they don't happen again and Research prepares you for the future to know what to do.

The crypto world is very complex and has all kinds of different problems and solutions.

[starseeker]

But given the light of recent happenings, more than anything - bitcoin users need some common sense irl. Newbies are getting scammed left and right. More than understanding the tech they need to learn about keeping their coins secure.

[AniviaBtc]

When you engage into something, it is not that instant that you are good from the start. You need to understand a lot of things, you need to deal with the risks, and understand how it works in the market. If you are knowledgeable about the use and utilization of cryptocurrency, you will not become confused about the purpose of your investment to it. I just don't really understand why people are making bad reputation about bitcoin without understanding it.

[GDragon]

Even though understanding is very necessary in every thing one decides to do, I believe we can always limit our understanding to the most important aspects. In the case of bitcoin what I needed to know most were:
1. What is it?
2. How does it work?
3. What are it’s merits and demerits?
4. How useful is it to me?
5. How do I get it?
Most of the times, we do not need to know everything. A little above what meets our needs is always okay.

I agree, but when you go deeper and explore your opportunities with other alts, you need to know more than the basic information. But to start with your crypto journey, those above questions will guide you on how to acquire those info. Because if you overwhelm yourself with things you want to know, it will not be healthy in my opinion. As you will tend to make mistakes in your decisions and overlook important things that you need to consider in the first place.

Bitcoin will be hard to understand starting from the technical aspect of it, it's good as a start up. That's how I start too. But I suggest to not limit your knowledge about this technology, specially if the knowledge you can learn are everywhere—just like in this forum, its literally everywhere.

If you already know the basics and wanted to start being involve with it, then the best thing you would do is to continue learning about it. Continuous improvement for everything we do in life.

[Xembin]

Research has helped many Bitcoin users to get it right in their  achievement.
Ways which research has help us to get it right in bitcoin are :
1) Can it work in this way: research show where and how it can work  when it come to investment.
2) Environment: is one of the way research can show us in cryptcurrency, the actual place to trade your coins.

Ways which experience has helped us to get it right in Bitcoin are:
1) low profit: Base of the wrong time many people has invest cause them low profit .
2) Wrong place: many people invest their coins in a wrong place, thinking they invest in the right place cause them scam.

[ghost424]

I read a post the other day asking for tips on how to learn bitcoin without going through the technical stuff (so they can start making profit sooner) and another one looking for a quick way to teach old people how bitcoin works. Here’s what I learned after months of observation and heavy reading on cryptocurrency inside and outside this forum.

There are NO SHORTCUTS to understanding bitcoin. You’ll find crash courses and simplified versions of the technical aspects of bitcoin but those are just to help make complex information more digestible WHEN YOU GO OVER IT AGAIN, not to help you skip certain parts. Yes, you’ll eventually realize that it’s best to re-read the stuff you refused to read the first time (when you thought it’s too much for you). With so many risks involved in cryptocurrency, you would want to know as much information about what you’re getting yourself into as you can. So, taking a shortcut is out of the question.

Think of cryptocurrency as a branch of science, because it’s as big as one. It’s not like a Netflix series that you can binge-watch in one go. Rather, it’s like the entire entertainment industry. Like a college course that takes many years to finish, it will take years of research and experience to master bitcoin. Also, research doesn’t stop as cryptocurrency is constantly evolving. Some of the things you will learn today may no longer apply tomorrow, so continuous study must be part of your daily routine.

Regarding profit, there certainly are various ways to grow wealth through bitcoin. You can invest, trade, gamble, perform tasks, write content, and many more, at least in this platform. But let’s not forget that the primary purpose of bitcoin introduction and adoption is to decentralize the financial system. More than just another income generator, it’s a campaign with a goal. Let’s find a way to contribute to that campaign. I also have a mentor btw so connecting with people who share your interest is also important.

You don't actually need to master something just to gain profit from Cryptocurrencies. Bitcoin along with other Cryptocurrencies just needs basic understanding on how  to complete tasks pertaining about them. Joining different kinds of campaigns within the forum and along social media platforms can give you a nice amount of Cryptocurrencies. Its true that learning has no shortcuts but experiencing them will be the best teacher to have. Understanding Bitcoin will come with time since you will always read about it anywhere.

[carlisle1]

You will learn from experience and that is the best teaching method you can use in doing trade or investing in cryptocurrency. Experience will be your teacher, school, paper,pencil ,blackboard, chalk, calculator ,etc...here in crypto space to learn basic knowledge regarding bitcoin and other cryptocurrencies.

If your willingness is there and dedication to Really learn before investing,Though there are some exchange now that offers free trading access without using a single amount and you can try making trades losing nothing.
Maybe this is a best teacher as well but of course your point is right we need to lose first before we take our prize.
How many traders losses much but yet they continue and now Gaining what they cooked.
Would be better for at least take some time and never rush,because the eagerness will make your target lose.

[todiefor17]

Only by experiencing it for yourself with bitcoin and cryptocurrencies can you see that this is a risky and unpredictable market. Every year there is a new trend in technology and we need to follow and learn to understand them. For those new to this market, they may win quickly, but they may lose everything they have earned. Even veterans in the crypto market can make mistakes and fail.