Knowledge Of Bitcoin Is Better Than Speculating

[inthelongrun]

Of course, having knowledge of bitcoin is necessary especially when someone is planning to invest with a long-term target. Speculating is only for those that are actively trading bitcoin. But most traders are not just speculating but are also knowledgeable about bitcoin. Otherwise, it is like trading a highly volatile pump-and-dump altcoin which is only based on hype and speculations. Although I have to admit that in the past I also traded altcoins based only on their technicals and speculations as long their trading volume is high.

[Mpamaegbu]

And because of the rate at which the prices of bitcoin and other cryptocurrencies increase or decrease in a particular time, it is better not to regard them as investment.

Are you for real? So, what's investment from your perspective? A thing that doesn't increase or decrease in price and value? Well, I don't know what you intended to drive at with that narrative of yours. Bitcoin, just like stocks and other forms of investments, are subject to increase and decrease.

Kindly suggest some other valuable skills one can acquire by learning about bitcoin and other cryptocurrencies?

I suggest you get books dealing on two things – Technical and Fundamental Analysis. Read them to understand the basic set skills if you intend to trade them and half of the confusion around price speculation would've been taken care of.

[Daniel91]

Bitcoin was not primarily intended as an investment but has become an investment over time.
In fact, if you trades with bitcoin, then you quickly understand that it is a very risky investment and that it requires a lot of knowledge and experience about the crypto market, analysis etc.
However, unlike shares, you can earn bitcoin in other ways, with your specific work, and that is one big difference.
Especially in the beginning of bitcoin, it was very easy to get a large amount of bitcoin, deposit it in a wallet and wait for the increase in value.
It's much harder now, but bitcoin can still be earned through various businesses and held as an investment.
Crypto trading is not for everyone because it requires many skills and knowledge that cannot be acquired overnight.

[wajik-tempe]

Kindly suggest some other valuable skills one can acquire by learning about bitcoin and other cryptocurrencies?

One such skill is programming, as blockchain technology is built on a foundation of code. Developing the ability to program can not only help you understand how cryptocurrencies work, but it can also open up new career opportunities in the tech industry. Another skill is financial analysis and risk management, as the price fluctuations of cryptocurrencies can be incredibly volatile. Learning how to read charts, analyze market trends, and mitigate risk can be valuable not just for cryptocurrency investing, but for traditional stock and bond investing as well.

[Davidvictorson]

Rather than spend your time speculating about bitcoin and cryptocurrencies, you could actually spend that time investing in education and knowledge about bitcoin and the technologies around cryptocurrencies.

Your two arguments are correct. It can be both if that's what the individual wants. We shouldn't be boxed to choose one of the others. They both can exist together. Based on my goals and aspirations , I want to acquire as much knowledge as I can about Bitcoin thereby learning a valuable skill in the process. I also want to learn about speculation. There's no harm in it. There's so much to gain from it.

Kindly suggest some other valuable skills one can acquire by learning about bitcoin and other cryptocurrencies?

I agree with most of the skills you have mentioned. They can be applied to various sectors or industries. Knowledge of Bitcoin can help you acquire cyber security skills, and data analysis or data science skills, you could learn excellent communication skills and become a Bitcoin educator. The list is endless.

[Frankolala]

Bitcoin speculation is very important for traders to enable them have a market strategy to make profit,if you don't have this knowledge as a trader or investor, you might end up selling at a loss. No knowledge is not important since investing in bitcoin can yield profit along the long run. Speculation is also learning because you will be using past events and present events in bitcoin movement for conclusion.

You can be learning a skill on bitcoin like programming and at the same time learning speculation since it isn't something too stressful because it is good you have a knowledge of the price movement of your investment. Bitcoin and stock are similar because there volatile nature is based on demand and supply.