Overcoming my fear of bitcoin and online businesses

[Kelward]

I am a trader who has a shop in one of the major markets in my country. I have always held on to the believe that business is between two physical parties, one wants to buy and the other wants to sell. The buyer sees what he wants, gives money to the seller and the seller delivers the goods to the buyer. The two parties leave happily. Until recently, and before knowing this place I always thought that anything trading or business online is a fraud. I always see them as ponzi and that one day they will make enough money from the people and shutdown, defrauding many people of their hard earned money.

I remember a colleague of mine when I used to work before I ventured into business, he used to do forex trading then, he will always encourage me to learn the trade, but I always told him no. Some few years back, I started to look for a new business and some friends began to tell me about bitcoin. I was very skeptical then saying that even if bitcoin is genuine that it's probably one of those online businesses that you will invest all of your money and in an instant you will lose everything.

I continued to have that fear until a few months ago when someone sent me the link to this Bitcointalk place, that I decided to try it out. I concluded that it is time for me to put my fear of online investments on hold to see if I can have a better understanding of it and bitcoin. In this few weeks that I have joined this forum it has been a very big eye opener for me. As someone new in this I know I have much to learn, before I start investing, so I don't make mistakes. Although so many things sound strange and confusing to me. And I hope to quicken my process of learning soon enough to start investing and trading like others here. Overcoming that fear of online investments, especially bitcoin is what I'm tackling right now and it is a wonderful experience for me so far. I am learning new things every time I come here and it is a new type of experience for me.

Here are some of the things that moved my decision to finally consider studying bitcoin now.

Number 1 : The first is I don't have to continue in the shadow of my fear and continue to run away from it. Fear is in the mind and no where else. I have to confront my mind to tackle this. As I'm doing this I also encourage anyone having fear of anything to confront it.

2: The second is that I get confused when people around me talked about Bitcoin. I envy them because I see them as intelligent and want to be like them. I also want to be seen as someone who is intelligent and can contribute my views to discussions.

3: Thirdly I want to learn how to trade Bitcoin and also get into other online investments.

My observation so far in the few weeks that I have spent in bitcointalk, I have noticed that there is willingness by senior members to give directions and corrections to newbies who seek it. I hope to be teaching newbies too one day. Any more advice by members on how to increase my confidence level and learning will be humbly received by me.

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[zezaiement]

I have become familiar with this topic by reading info at https://www.babypips.com
I am not an employee of this service, but I want to recommend it because it is well written material.

[BIT-BENDER]

2: The second is that I get confused when people around me talked about Bitcoin. I envy them because I see them as intelligent and want to be like them. I also want to be seen as someone who is intelligent and can contribute my views to discussions.
 

You have already started to get it wrong this way and you may never understand Bitcoin If this is your goal, firstly you have shown you are easily moved my people's opinions and you would give into FOMO (Fear of missing out) and FUD(fear uncertainty and despair) you won't be able to take your own decisions, you goals should not be to look intelligent( by being knowledgeable in Bitcoin) in the eyes of people but your goals should be actually have the knowledge of Bitcoin that should be more important to you.
Help yourself out by reading up there are lots of Bitcoin books you can gradually use to accumulate knowledge here is a good list.
https://bitcointalk.org/index.php?topic=5353061.0

[CryptoHeadlineNews]

Until recently, and before knowing this place I always thought that anything trading or business online is a fraud. I always see them as ponzi and that one day they will make enough money from the people and shutdown, defrauding many people of their hard earned money.

I know due to the high level of internet scams and Ponzi-related scheme scams, it's natural for people to lose interest in anything online, but the truth of the fact is that there are lots of legit ways of making money online that people don't talk about but rather prioritize investment schemes who promises to offer x reward of investment after few days which always crashes. Because businesses such as affiliate marketing, social media marketing, blogging, and data analysis are all online-related jobs and yet pay well.

2: The second is that I get confused when people around me talked about Bitcoin. I envy them because I see them as intelligent and want to be like them. I also want to be seen as someone who is intelligent and can contribute my views to discussions.

First of all, I will like to inform you that no one was born with the knowledge of Bitcoin, we all got to know all that through learning, personal research and forum engagement, which likewise you too can achieve the same only if you could be diligent enough to learn without hurry how Bitcoin and the forum works.

[Upgrade00]

Number 1 : The first is I don't have to continue in the shadow of my fear and continue to run away from it. Fear is in the mind and no where else. I have to confront my mind to tackle this. As I'm doing this I also encourage anyone having fear of anything to confront it.

You don't have to lose your fear, fear and skepticism are what keeps us away from making wrong choices. Always be doubtful of any venture which is presented to you cause it very likely is a scam.
By confronting your fear, you do your diligent research and try to convince yourself that this is not a scam.

Any more advice by members on how to increase my confidence level and learning will be humbly received by me.

Use the search option effectively, all the information you seek is available on the forum which is a repertoire for Bitcoin knowledge.
Also, this is an anonymous online forum, feel free to ask questions and discuss as freely as you wish to, and grow a thick skin to take criticisms and a bit of trolling.

[bittraffic]

It's not going to frighten anyone anymore when they find out that Bitcoin price continues to rise up since 2010. This is kind of an assurance that your investment can exponentially grow 100x when you invest for long term, this alone simmers down investors and adopters even when the market suddenly changes.

I have become familiar with this topic by reading info at https://www.babypips.com
I am not an employee of this service, but I want to recommend it because it is well written material.

The free trading systems they share did work for some time until the market changed which happens a lot in crypto.  But I learned a lot about indicators.

[suzanne5223]

1 : The first is I don't have to continue in the shadow of my fear and continue to run away from it. Fear is in the mind and no where else. I have to confront my mind to tackle this. As I'm doing this I also encourage anyone having fear of anything to confront it.

Even without you being aware of Bitcoin, living in the shadow of your fear will only limit your potential and the chance of your getting the good things out of your endeavor.

2: The second is that I get confused when people around me talked about Bitcoin. I envy them because I see them as intelligent and want to be like them. I also want to be seen as someone who is intelligent and can contribute my views to discussions.

You need to envy anyone and you don't have to be intelligent before you get along in the crypto space. What you need is to know the fundamental aspect of Bitcoin, blockchain, transaction, and wallet and you can then learn the rest little by little.

3: Thirdly I want to learn how to trade Bitcoin and also get into other online investments.

Most online investments are scams buddy. Invest in yourself by developing your technical skills, and trading skills.

[The Cryptovator]

It seems that you may have some gaps in your understanding of Bitcoin and its functioning. However, you're in the right place to expand your knowledge and gain more insights. Bitcoin is a decentralized cryptocurrency that allows you to purchase and store it in your own digital wallet. By holding Bitcoin in a non-custodial wallet, you become the sole custodian of your funds, acting as your own bank. Based on your post, it appears that you may consider acquiring a hardware wallet, which offers enhanced security for your assets. With a hardware wallet, your funds remain fully secure, and unauthorized access is virtually impossible unless your private keys or seed phrase are compromised. Therefore, apart from the inherent price volatility associated with Bitcoin, there is little to fear when exploring this cryptocurrency.

[DiMarxist]

you won't be able to take your own decisions, you goals should not be to look intelligent( by being knowledgeable in Bitcoin) in the eyes of people but your goals should be actually have the knowledge of Bitcoin that should be more important to you.
Help yourself out by reading up there are lots of Bitcoin books you can gradually use to accumulate knowledge in Bitcoin. This one too is good. https://www.google.com/url?sa=t&source=web&rct=j&url=https://cryptolinks.com/983/learnmeabitcoin&ved=2ahUKEwj40tDMm_D-AhXFg_0HHWrhBdQQFnoECA4QAQ&usg=AOvVaw0760PYfdKlFTHyH8UX9uwq

[Gozie51]

Until recently, and before knowing this place I always thought that anything trading or business online is a fraud.

Your post shows the resolve to learn about bitcoin and all around it and this platform is going to help you do that in the long run but don't throw your guards away to embrace everyone and everything online to be true and genuine in whatever is said to you. Many people may yet approach you for investment but be wise and ask questions.

On your own part, there are things you need to do to secure your financial investment like you don't have to compromise your wallet address, keep every password away from third party. Bitcoin is a decentralised digital currency and so you don't need third parties interference. Don't oblige email messages requiring your response or reply when you don't know the sender or not expecting any email.

You can check to read more about bitcoin here

[Kelward]

Until recently, and before knowing this place I always thought that anything trading or business online is a fraud. I always see them as ponzi and that one day they will make enough money from the people and shutdown, defrauding many people of their hard earned money.

I know due to the high level of internet scams and Ponzi-related scheme scams, it's natural for people to lose interest in anything online, but the truth of the fact is that there are lots of legit ways of making money online that people don't talk about but rather prioritize investment schemes who promises to offer x reward of investment after few days which always crashes. Because businesses such as affiliate marketing, social media marketing, blogging, and data analysis are all online-related jobs and yet pay well.

2: The second is that I get confused when people around me talked about Bitcoin. I envy them because I see them as intelligent and want to be like them. I also want to be seen as someone who is intelligent and can contribute my views to discussions.

First of all, I will like to inform you that no one was born with the knowledge of Bitcoin, we all got to know all that through learning, personal research and forum engagement, which likewise you too can achieve the same only if you could be diligent enough to learn without hurry how Bitcoin and the forum works.

Truly as you have noted, no one was born with the knowledge of bitcoin, everybody acquired it. When you have certified yourself that it is a genuine business and not a scam, you then need to develop a passion and commitment for trading bitcoin, without fear, to diligently learn it very well, in order to minimize loses and maximize profits.

[sheenshane]

Truly as you have noted, no one was born with the knowledge of bitcoin, everybody acquired it. When you have certified yourself that it is a genuine business and not a scam, you then need to develop a passion and commitment for trading bitcoin, without fear, to diligently learn it very well, in order to minimize loses and maximize profits.

That's good to hear, the willingness will push you to be knowledgeable enough on Bitcoin stuff.
If you're interested in trading Bitcoin and exploring other online investments, take the initiative to educate yourself.  You can start by researching reputable sources that provide information on trading strategies (dropped below), risk management, and market analysis.  Consider joining online forums or communities dedicated to cryptocurrency trading, where you can learn from experienced traders, because IMO, learning takes time and practice, so be patient and persistent.

Here are useful links for you to search furthermore aside from this forum.

• https://bitcoin.org/en/
• https://www.reddit.com/r/Bitcoin/
• https://github.com/bitcoin/bitcoin

[Smartvirus]

I remember a colleague of mine when I used to work before I ventured into business, he used to do forex trading then, he will always encourage me to learn the trade, but I always told him no. Some few years back, I started to look for a new business and some friends began to tell me about bitcoin. I was very skeptical then saying that even if bitcoin is genuine that it's probably one of those online businesses that you will invest all of your money and in an instant you will lose everything.

I continued to have that fear until a few months ago when someone sent me the link to this Bitcointalk place, that I decided to try it out. I concluded that it is time for me to put my fear of online investments on hold to see if I can have a better understanding of it and bitcoin. In this few weeks that I have joined this forum it has been a very big eye opener for me. As someone new in this I know I have much to learn, before I start investing, so I don't make mistakes. Although so many things sound strange and confusing to me. And I hope to quicken my process of learning soon enough to start investing and trading like others here. Overcoming that fear of online investments, especially bitcoin is what I'm tackling right now and it is a wonderful experience for me so far. I am learning new things every time I come here and it is a new type of experience for me.

Well just that you know, Ponzi schemes are very real. Your fears of having these ponzi schemes get the best of you have been all that have kept you safe all the while. You could just as well not lose that fear or rather, learn to identify what it is that makes a project a ponzi scheme. Some of its basic features is that, they are referral based and operates a pyramidal scheme.

May I remind you although, I feel you already get the picture, the forum isn't some online business but, somewhere you come to learn about cryptocurrency. These you can apply where related and maybe get what you seek out of the knowledge you've acquired.

[drwhobox]

Ponzi schemes in online businesses spread the fear of losing to most people who got scammed by them. Even I spend a period where I was scared of online investment and business but I overcome my fear, and now I am doing good. It is not bad to fear but also you have to open your mind to learn more about the opportunities around you. Do your own research about the project before stepping into that business.

[Alpha Marine]

Your fears are valid. There are a lot of online scams on the internet, but I'm so happy for you. You have decided to move past those fears. That was the first step. It's okay to have fears, but it's allowing those fears control your life and limit you that's the problem.

Don't rush the learning process. Take your time, take it easy. Learning is a continuous process, it has no end. Even the most knowledgeable people here still have room to learn.
The good thing about the forum is people are always open to to give you guidance. This is the only ranking system I've seen where the rank does not determine how people are treated or respected.

One thing I'm sure you already know is that Bitcoin is not a get rich quick scheme. Only ponzi and other scam investment offer a get rich quick scheme. So just keep doing what you're doing and keep learning. I can only speak for myself and I know how much I've learnt about Bitcoin from this forum.
You can join the forum as someone who knows nothing about Bitcoin and with the right mind you'll begin to learn things daily.

Also try to carry out research. If you see things you don't understand, research about it. You can ask the forum for more clarity on the subject, but it should be in the proper boards.

[Cryptomultiplier]

I had this same kind of fear sometime back, until I saw people around me making profits from trading and being that I understand what the business of buying and selling is, I would conclude that they made more profit than loss as they ventured further and gained new tools and experience.
This led me here, where I have tried and I know I have grown in the aspect of joining discussions I understand and trying to understand the more ambiguous topics being discussed too.
It has been really insightful for me and I know you will get a hang of it sooner than you think.
One way I did overcome my fear was by picking out new terms I found confusing and researching them. This opened my mind to the various concept, technicality and strategy of investment or trade or innovation that is ongoing and I better understand the market in that if I decide to begin my trading journey today, I wouldn't be scared to face the risk.

[Queentoshi]

Number 1 : The first is I don't have to continue in the shadow of my fear and continue to run away from it. Fear is in the mind and no where else. I have to confront my mind to tackle this. As I'm doing this I also encourage anyone having fear of anything to confront it.

As a human, we have to be open to changes and try to keep up with them as they happen. Holding on to one believe or pattern and thinking nothing better will come, can make you stagnant in growth and knowledge.

2: The second is that I get confused when people around me talked about Bitcoin. I envy them because I see them as intelligent and want to be like them. I also want to be seen as someone who is intelligent and can contribute my views to discussions.

Anyone that knows something you do not know is a step ahead of you and you can easily get intimidated around them whenever they speak. To me, this is a good reason to want to know what Bitcoin really is, surprisingly you will get to discover that after you have a good understanding of what Bitcoin is and then you have a talk with some of these persons, you will notice that they do not really know about bitcoins the way you thought they did.

[cryptoaddictchie]

My observation so far in the few weeks that I have spent in bitcointalk, I have noticed that there is willingness by senior members to give directions and corrections to newbies who seek it. I hope to be teaching newbies too one day. Any more advice by members on how to increase my confidence level and learning will be humbly received by me.

That was a nice shared experience by you. Yes there are plenty of people who can guide you here to understand more bitcoin and other widen scope of cryptocurrency. Dont skip the learning method as it will be useful to you when you become more affiliaite or expose to bitcoin. Confidence is something we have on our self but you are right there we only need to be normal when we teach others. Dont so overconfident about some topics cause someone might have known the real answer.

[UchihaSarada]

As an owner of a small business that accepts bitcoin, a biggest fear is transaction fee.

Because your business is small, you will not be able to run marketing to cover transaction fee or partially cashback for your customers. They will have to move bitcoin and pay transaction fee for payment to buy your products or use your services.

You will have to move bitcoin that is received from your customers too. Because with small budget, you will have a shorter cycle of your financial budget. It will cost you transaction fee and you don't have long time to hold your bitcoin or wait for time with cheap transaction fee.

[SOKO-DEKE]

1 : The first is I don't have to continue in the shadow of my fear and continue to run away from it. Fear is in the mind and no where else. I have to confront my mind to tackle this. As I'm doing this I also encourage anyone having fear of anything to confront it.

Many people should have been in cryptocurrency industry as earlier than they were now and they should have be great Bitcoin investors but do to the fear they have created in their minds never never give them the earlier opportunities.but what do surprise me with people is that they easily believe in some people comments without further research either what they saying is positive or negative. and that are what easily make us lose early opportunities or even lead us to the wrong directions.let always try to do our own research in time so we can know the next steps to carry, so we can get good opportunity early.infact many loses money to ponzi schemes because they only listen to people thought without doing  their own research.

2: The second is that I get confused when people around me talked about Bitcoin. I envy them because I see them as intelligent and want to be like them. I also want to be seen as someone who is intelligent and can contribute my views to discussions.

Before you can learn more about Bitcoin and cryptocurrencies in general, you don't need to be envious of anyone.If you wish to feel jealous of others who are more knowledgeable than you are, you will be upset and unlikely to ever take the right steps toward learning.understanding about Bitcoin should be a steady process rather than something you should rush because it may include your money if you later decide to trade or invest, and it could result in lost of your money if you miss out understanding some important steps.

3: Thirdly I want to learn how to trade Bitcoin and also get into other online investments.

You are free to learn trading and I believe a lot of members are here to provide you with guidelines.learning trading is great idea because when you know how to trade it will  serve as a good opportunity in earning more profits in crypto industry.