Overcoming my fear of bitcoin and online businesses

[yazher]

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.

After the emergence of the crypto industry, there are lots of scammers who also used the opportunity to scam people with bitcoins and other altcoins as their props to fool people. in our city alone, lots of businessmen have fallen into this kind of Ponzi Scheme and the strange thing about it is when they're gone and create a similar scheme, they always get some investors again. This is one of the reasons why you need to equip yourself with some knowledge before getting into some kind of investment especially when money is involved these people always get themselves into these scams and are not only putting themselves in trouble but also innocent people they recruited into the Ponzi scheme.

[Mpamaegbu]

Your first choice is stepping out to confront that fear which eclipsed you in the past. That you've successfully done. The second part is to realize that those who quit don't win and those who later won never quit. Now that you're here, you should embrace learning like it will go out of fashion in the next minute. Read and learn to develop and resolve whatever nagging questions you think you've. Ask questions where necessary and don't be shy to do so. Before long you will also begin to sound high like those you envied before now. The last, and the most important, be vigilant while you're online. Even on this forum, be vigilant. Anyone who sends you a private chat or link or talks to you about business in private is obviously a scammer. Be warned.

[Gallar]

~

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.

~

Having a fear of something new, I think it's very natural. Because it's not only bitcoin, someone can experience fear and worry when they are about to start for the first time. In the world of work, business, and other activities, it often brings fear and worry when trying for the first time. So those of you who were initially afraid and didn't believe in online investments like bitcoin, that's normal. So now that you can be friends with that fear, I think that's a good thing. Because you can get rid of your skepticism about bitcoin.

And actually, the fear that you experience about bitcoin / online investment, is caused by your lack of deep knowledge of this field. Because what I know and have experienced, the online world, like investing in bitcoin, is actually not much different from what is in the real world. If you look at it from the negative side, in the online world too, of course there are people who intend to cheat, as well as in the real world (not online), there are always people who intend to cheat or cheat. So you don't need to be too afraid to enter the world of bitcoin investment, because the most important thing is that you really have to learn the knowledge from the basics to the end.

[Dr.Bitcoin_Strange]

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.

Well, it's good you have to overcome your fear to learn and understand the need for online business and Bitcoin technology. Also, you are in the right community where you can obtain good knowledge and guidance about Bitcoin technology and anything that is cryptocurrency-related, including trading.

But you should know that generally, trading is risky because you will need more time to learn how to trade, you will undergo training for some months with a demo account, and even when you start trading with a real account, you can still encounter losses because the crypto market is very dynamic, and no matter what trading tools you are using or what your best strategy is, you will sure face some losses. But if you are just holding your bitcoin, it will be safer for you because you will only have to hold it until the market becomes bullish, then you can sell and take profit. Since you said you want to learn to trade Bitcoin, it's your choice anyway; I'm just trying to let you know there's some risk involved. I still find this article so educational about bitcoin. You can read it if you want to build your knowledge about Bitcoin, because to be able to help other newbies in the forum, just as you have said, you must know about Bitcoin. You can also learn about some forum guidelines for newbies and the rules and history of the forum, which have been mentioned to you before.

See you around.

[Obari]

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.

Great observation  and just incase your friend who sent you the link never mentioned that the forum was formed and created by the original founder of bitcoin  himself and as such, most of the information  you get here should be most genuine but I also want to let you know that bad advise can also be gotten from the forum and you should always filter infir.atikms you get from forum and should always remember  that safety of your assets when you first ally start hodling is paramount.

I admire the fact that you decided  to learn first rather than just jumping into the market and this decision will help you make the right decisions  when you finally come fully into the industry.

I want to encourage  to stay steadfast in the journey  and don't let anything hold you back as this is a journey that if well followed, we'll  all smile at the end.

[Kelward]

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.

Your paragraphs focuses on carrying out research before entering bitcoin, so you don't loose your money. I also underground that a new person to bitcoin, don't need to rush into it, as you have mentioned, so he doesn't loose his money. This is the more reason why I'm glad that I'm in this bitcoin forum. Members have generously given me links to learn about bitcoin and also places to purchase books to enlighten me more about bitcoin. The confidence of members about bitcoin is the best encouragement that I'm getting.

[Sandra_hakeem]

Fear is man's worst experience,.  Most especially when embedded by unconsciousness and confusion. I can't say I won't be scared of something I haven't done before but I'm not also gonna start feeling it as a losing game already without even exercising some time to hear on the affirmative.
Secondly, ion really like getting indulged in online businesses..; I'm not even seeing Bitcoin as one - it's way more different anyways...I use to imagine having the beginners of this legendary coin, reasoning the same way them newbies do today??

Sandra 🧑‍🦰

[Husires]

It's good to see that you decided to learn, but there is no difference between online trading and regular trade, both of them need intelligence and experience, and on the contrary, online trading is more difficult because competition from all over the world and customer evaluation is very important.
Bitcoin is a digital currency that aids in digital trade, but both are completely different and not entirely interrelated. Thus, you use bitcoin to settle your transactions and as an investment.

• To settle transactions you need to use btcpayserver.
  
• Investing in Bitcoin means that you believe that it has a future value that can increase, and then either you will buy at the bottom or follow DCA strategy.

[Kelward]

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.

After the emergence of the crypto industry, there are lots of scammers who also used the opportunity to scam people with bitcoins and other altcoins as their props to fool people. in our city alone, lots of businessmen have fallen into this kind of Ponzi Scheme and the strange thing about it is when they're gone and create a similar scheme, they always get some investors again. This is one of the reasons why you need to equip yourself with some knowledge before getting into some kind of investment especially when money is involved these people always get themselves into these scams and are not only putting themselves in trouble but also innocent people they recruited into the Ponzi scheme.

People like me have been afraid of inline businesses, because of this ponzi schemes. I used to ignorantly think that every online investments runs like ponzi, until I got enlightened about bitcoin and it's strong walls against any sort of scams. Many people are still in that mindset of fear about anything online business, especially those that have been scanned before. I wonder what can be done to track this scammers and give them justice for their wicked deeds?

[Mpamaegbu]

I wonder what can be done to track this scammers and give them justice for their wicked deeds?

This industry is not regulated yet and it's a bit hard tracking scam projects, especially if team members are anonymous (which most of them are). In the past, I also invested in projects like that at ICOs. Ignorant is bliss like they say. A greater number of them rugpulled on investors and disappeared into thin air.

By the way OP, you've to merge your posts by editing the ones above my comment so you don't double post. It's against forum rule to double post.

* For clarity – to double post means to post more than once in a roll without having another user(s) in between your posts before you post again.

[Freddie Boyer]

I also feel the same way as you felt before. ignorance and skepticism when there is a business that is not real. Yes. this is a place to ask where there are people who are confused, especially about BTC and other crypto investments along with developments in the world economy and our seniors are happy to give their best advice and opinions sincerely.

[Finestream]

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.

If you have understood well about bitcoin and has maximized your knowledge into it, then your fears will eventually vanish as time goes by. You will gain more trust and confidence over bitcoin, because it’s simply valuable and trustworthy when it comes to investment. And when you’re ready to invest and hold your bitcoin for long term, that’s the time to create a hardware wallet that is more secured and will free you from hackers as long as you keep responsible on managing it.

[Kelvinid]

Fear is man's worst experience,.  Most especially when embedded by unconsciousness and confusion. I can't say I won't be scared of something I haven't done before but I'm not also gonna start feeling it as a losing game already without even exercising some time to hear on the affirmative.
Secondly, ion really like getting indulged in online businesses..; I'm not even seeing Bitcoin as one - it's way more different anyways...I use to imagine having the beginners of this legendary coin, reasoning the same way them newbies do today??

Sandra 🧑‍🦰

We need to overcome our fear in order to win and succeed. It was indeed normal to all of us but we should not let our emotions control our minds instead, we have to go against it and turn negative to positive views. And the only thing I see to help it work is to focus on our goal, not the rumors and FUDs in social media. If we want to succeed, we have to also believe in ourselves and trust the system we used, and make this a reason why we work hard. The more we are confident in ourselves, the more chance to reach our desired goals in life.

[Kelward]

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.

Search option is very informative to learning about bitcoin. Bitcointalk forum is very educative and it equips members, especially new ones on guides to the journey of bitcoin, so as to avoid costly financial mistakes in the trading and investments. And of course anybody that wants to get better in anything that they're into must accept criticism, it is better to see things from different perspectives to broaden our understanding. I love the anonymous nature of the forum, because it reduces familiarity, so you're more free to respond to posts the way you really feel.

[BitDane]

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.

@OP one important things about Bitcoin learning is to not push your ideas to everyone.  Once you understand Bitcoin and gain a deep understanding of it, you will be motivated to share how wonderful Bitcoin is but most of the time, you will find people who are skeptical of Bitcoin.  I think it is best to have the spirit to share Bitcoin information to people who are missing out but never push them to believe in Bitcoin.  People have different views and understanding of Bitcoin and many of them are stubbornly holding to their belief even though they are proven wrong.

About your learning process, once you learned about Bitcoin you should keep your self updated regularly sp that you won't missed out on the current event of bitcoin.

For more learning you also need to learn the basic of trading in order to take advantage of bitcoin trading.  The basic knowledge about trading stated in this site: https://www.babypips.com/trading, they maybe a forex trading sample but the knowlegde can be applied to cryptocurrency trading too.

[Kelward]

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

Bitcoin decentralized nature makes it more important that traders and investors should not share sensitive information like wallet addresses and passwords like you mentioned above, because it is an anonymous structured business. By this I understand that we have scammers in the crytocurrency  business. So the issue of trust is not guaranteed. I'm glad that I've not heard any member mention anything about bitcoin system being compromised by scammers. So people in bitcoin can only be scammed by their own ignorance. This is the more reason why I believe that this educative and interactive forum is the best place for any bitcoin business person.
 

[Mpamaegbu]

Bitcoin decentralized nature makes it more important that traders and investors should not share sensitive information like wallet addresses and passwords like you mentioned above, because it is an anonymous structured business.

There's no big deal in sharing wallet addresses. In simple terms, using the banking system as an example, a wallet address is the same thing a bank account number while password is the same thing as pin number. Whether bank or cryptos, security emphasis is on pin number or password and not on wallet address or account number. Of course, you've to give out your wallet address to receive cryptos or account number to get paid in fiat.

[Distinctin]

Fear is man's worst experience,.  Most especially when embedded by unconsciousness and confusion. I can't say I won't be scared of something I haven't done before but I'm not also gonna start feeling it as a losing game already without even exercising some time to hear on the affirmative.
Secondly, ion really like getting indulged in online businesses..; I'm not even seeing Bitcoin as one - it's way more different anyways...I use to imagine having the beginners of this legendary coin, reasoning the same way them newbies do today??

Sandra 🧑‍🦰

We need to overcome our fear in order to win and succeed. It was indeed normal to all of us but we should not let our emotions control our minds instead, we have to go against it and turn negative to positive views. And the only thing I see to help it work is to focus on our goal, not the rumors and FUDs in social media. If we want to succeed, we have to also believe in ourselves and trust the system we used, and make this a reason why we work hard. The more we are confident in ourselves, the more chance to reach our desired goals in life.

Fearful people never get to succeed, instead they keep losing and regretting. That’s why we have to take away our fears and turn them into courage and motivation. That way, we become fearless in the process and be able to acquire a lot of potentials that we need to have. And maybe losses may be helpful at some point, as we need to be exposed to losses at first so we can realize what else can we do to change the fate and make us successful, be it in trading or investing.

[Kelward]

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.

I have learnt quite a lot about bitcoin since I joined this forum and I'm revisiting your post to say thank you for your advice on how i can start bitcoin. You said bitcoin is decentralized and I can purchase and store in my own noncustodial wallet, and also purchase a hardware wallet for enhanced security of my asset. Also to keep an eye on the price volatility of bitcoin. So the fear that has been holding me back from embarking on this journey of bitcoin trading is gone, thanks to you and other members that have encouraged me so far. So I'm happy to announce to you that I'll start soonest.

[Botnake]

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.

The good thing about this forum is that everyone is contributing for the continuous productivity and success. Be it newbie or a legend, each point of view is being counted and appreciated. So i guess you have found the right path to overcome your fears and doubts by giving your time to learn in this forum. And by the time you’ll be doing great in here, confidence will eventually built on your own. And as long as you remain open minded on others post and ideas, and continuously learn from them, you will continue to boost your confidence within yourself.