Being Knowledgeable before Bitcoin investment is very Good

[Salahmu]

I came across a post made on this forum by someone that says he has $20k for investment as such he was looking for people to advice him on how to go about it, for me it was actually a bad idea consorting everyone for investment advice because you could be lured by scammers to invest on a shitcoin as such loosing all your money because of lack of knowledge about Bitcoin or any investment in general, as someone that has no idea on investment I think the first thing was research google to learn more and also the risk involves. so I was thrilled to create this topic, so everyone could help by sharing there own knowledge on what someone that has no knowledge about investment should no before venturing into.

I may not be the right person for investment advice that's why I'm asking everyone to share their advice, views and knowledge incase something like this should come up, so people could learn and no what must be done before going into investment.

[_act_]

for me it was actually a bad idea consorting everyone for investment advice because you could be lured by scammers to invest on a shitcoin as such loosing all your money

That is may not be scam because the person may not know about the project to be scam. But it can also be a scam if the person that tell people to invest in the project is part of the people behind the project. But I have seen friends telling friends something like this in a way all of them will be scammed together. Lack of understanding about crypto caused it. DOR is very important.

the first thing was research google to learn more and also the risk involves

No only about the risk, but to seek for everything need to be known to avoid scam and to make a successful investment that will be profitable. You can use google but be careful too because google can give you false information like bitcoin wallet to be coinbase.com, Trustwallet and other wallets that are not good for bitcoin users. But making research by asking questions on this forum can be very helpful.

If someone can be patient and not greedy, investing in bitcoin is better, instead of investing in fake and shit projects.

[IIrik11]

investment advice is given based on self interest. it is as simple as that..

if one has invested in gold, they would tell others that gold is a solid investment.

why? because if demand for gold increases so will the price and their investment makes profit.

therefore, if someone is telling u to buy something, if is because it is in their interest.

who ever is looking to invest should do their own research.

in the end it all comes down to demand and supply no matter what it is.

so, basically one should try to invest in something which has shorter supply and greater demand.

[Cantsay]

I came across a post made on this forum by someone that says he has $20k for investment as such he was looking for people to advice him on how to go about it, for me it was actually a bad idea consorting everyone for investment advice because you could be lured by scammers to invest on a shitcoin as such loosing all your money because of lack of knowledge about Bitcoin or any investment in general,

Generally I don't appreciate the idea of having to meet people to point your to a project to invest in, if the post was about advice or where to learn how they can carry out their personal that would have been great rather than looking for someone to jsut hold your hand and take you ro a project thatwill make you a millionnaire or even billionnaire.

I may not be the right person for investment advice that's why I'm asking everyone to share their advice, views and knowledge incase something like this should come up, so people could learn and no what must be done before going into investment.

Share idea? You should first of all realise that not all strategy work for everyone, but the best I would give a newbie is; Learn, practice, continue learning, keep practicing and even if you get a hang of the investment process keep learning and try to sync with latest news and lastly don't stop learn... Afterall there's a reason why "earn" is present in "learn".

[MusaMohamed]

I came across a post made on this forum by someone that says he has $20k for investment as such he was looking for people to advice him on how to go about it

He can be a very stupid investor or he is a scammer.

He can pretend to be lazy and stupid and attract some people who want to be advisors. If he is a scammer and plan to scam you, he will send you phishing links or malicious documents, files to install threats on your devices.

If he is stupid, actually stupid and very lazy, I have no words to comment about him.

I am keen on a possibility that such newbie user is more like a scammer pretends to be newbie.

[Rockstarguy]

I may not be the right person for investment advice that's why I'm asking everyone to share their advice, views and knowledge incase something like this should come up, so people could learn and no what must be done before going into investment.

It is wrong for someone who has no knowledge about bitcoin to buy bitcoin and looking for advice from people for help. I think people who invest this way without having any knowledge are just desperate to get rich from bitcoin. It is looks so unreasonable for someone to decide to invest on something that is unknown and without any understanding, that means the person just only care about profit  and not about bitcoin.   Someone who is really Interested to invest in bitcoin will go after knowledge first before proceeding of buying Bitcoin to  invest.

Without knowledge buying Bitcoin is a waste because it will look so complicated to the person when their is fall in the market. Knowledge about bitcoin is not just about investing but how to use the right wallet and also helps to give good Understanding in securing the seed phrase.  No matter the amount used in buying Bitcoin, no bitcoin if their is no knowledge on how  to invest because their can't be magic to end up with a positive result by the end of the investment.

[taufik123]

has $20k and still asks others for investment advice.
Is he a wealthy man with many businesses that he doesn't think about the safety of $20k on someone else's investment advice?

Although those who persuade and give advice are not scammers, it will not be a good investment.
No one will be responsible for losing $20k in an investment, it is a risk that will still be borne by yourself.

Learning the science of trading and the science of analysis is a must before getting into crypto.
Anyone who enters without having their knowledge will only waste their money and it will be a bitter experience and eventually think crypto is Hell for everyone.

I myself started from zero learning analysis, trading and investment strategies, and some tips that can be used to maximize profits and avoid losses.

[MusaMohamed]

has $20k and still asks others for investment advice.
Is he a wealthy man with many businesses that he doesn't think about the safety of $20k on someone else's investment advice?

Don't teach the rich how to use money. If the rich ask how to use money, they are trolling. But if they are not the rich guys, they are scamming you with fiction stories and untrue questions.

I myself started from zero learning analysis, trading and investment strategies, and some tips that can be used to maximize profits and avoid losses.

Learning, practicing, getting profit and lose it, getting losses are fundamentals for success. We can learn it and practice it with a full market cycle with bull and bear times.

Getting profit is difficult but possible, and a harder task is keep your profit and your capital safe. When you have profit in hands, you will be less careful and will more easily to lose your profit and even initial capital.

[Wend]

has $20k and still asks others for investment advice.
Is he a wealthy man with many businesses that he doesn't think about the safety of $20k on someone else's investment advice?

Although those who persuade and give advice are not scammers, it will not be a good investment.
No one will be responsible for losing $20k in an investment, it is a risk that will still be borne by yourself.

I saw that thread a few days ago, but in the opinion of many, the story of the man who has 20k dollars and needs investment advice from others is more of a scam than a fact. For those willing to invest large sums of money, they would not foolishly turn to strangers for investment advice. Unless his intention is to scam rather than seek real advice.

Returning to this topic, I agree that having knowledge before investing is necessary not only with bitcoin but in every field because knowledge will always be the key to our success.

[Jawhead999]

You must being knowledgeable before doing anything! except you're only want to learn something like was in school where you're don't know anything become know the basic thing as you been taught by your teacher.

I think the guy who asking someone to invest $20K for him is think if there's a trusted broker like you invest in stock. But stock and Bitcoin has many difference, which he don't know since he not learn about Bitcoin.

[mirakal]

Not only is it very good, but it's a must.

You need to be well knowledgeable when you plan to invest in crypto, as that's the best way to minimize the risk and have a good chance of being successful. One of the major reasons why people fail in investing is because they are "too greedy." They easily fall for fake advertisements about returns that are too good to be true. So, if you have the basic knowledge, you won't fall for that.

When it comes to investing, there's one basic rule that I always remember:

"When the return is too good to be true, that's a scam."

[GeorgeJohn]

Actually your point of view is very good but I want you to know that so many people did not know bitcoin very well before they venture into bitcoin, what I know that people do very well is that they obtain the knowledge of bitcoin fully before venturing into the investment of bitcoin, some people understand the basic concepts of things before they venture into it, so being knowledgeable before cryptocurrency investment especially bitcoin is very nice, it will make the investor to have a perfect investment.

[Ojima-ojo]

Not only is it very good, but it's a must.

You need to be well knowledgeable when you plan to invest in crypto, as that's the best way to minimize the risk and have a good chance of being successful. One of the major reasons why people fail in investing is because they are "too greedy." They easily fall for fake advertisements about returns that are too good to be true. So, if you have the basic knowledge, you won't fall for that.

When it comes to investing, there's one basic rule that I always remember:

"When the return is too good to be true, that's a scam."

Scepticism is a great tool in the hands of an investor, because this help investor to have some restraint when it come to a noticeable red flag, such as you mentioned, because for a project to promise a certain amount of return it becomes a red point for an investor because no team have guaranteed to allocate a price to the coin and since coin value depends on the demands.

So what the investor needs in this knowledge that would guide him/her through the investment-making period and this is the greater

[salad daging]

I came across a post made on this forum by someone that says he has $20k for investment

Which board post is that? Did he just make up an illusory story so he's looking for a counselor he doesn't know?

has $20k and still asks others for investment advice.
Is he a wealthy man with many businesses that he doesn't think about the safety of $20k on someone else's investment advice?

I think $ 20k is quite big, anyone who wants to invest will definitely think about the risks first and understand before jumping into the investment they want, let alone seeking advice from strangers that would be very dangerous.

Although those who persuade and give advice are not scammers, it will not be a good investment.
No one will be responsible for losing $20k in an investment, it is a risk that will still be borne by yourself.

A good investment is by doing your own research, I know there's nothing wrong with seeking other people's advice, but he himself has to decide and the risk must be borne, because investing is not an easy matter, you still have to have knowledge.

[Friendlyuser]

Knowledge is not everything, Kiyosaki wrote a best selling book about investments and went bankrupt himself 3 times in a row, some kid who had 10 000 allowance and had everything like internet and a computer and a ton of free time in 2010 could have made more money by spending $10 it on a whim on Bitcoin than any professional trader would be able to do in all his life with that amount. SBF had probably 1% of the knowledge Bitcoin developers have but at the same time he made for sure a thousands times more money than they do.

[Nrcewker]

Not only Bitcoins, but also in each and every type of investment, if you have the proper knowledge, then definitely you will make the most profits out of the investment. I have seen many people after investing in Bitcoins for a week starts complaining that, the price doesn’t go up. They don’t know how market works and don’t know the concept of supply and demand, hence the prerequisite knowledge is definitively the top priority here. It also helps to minimise the risk involved in the investment.

[GeorgeJohn]

Not only Bitcoins, but also in each and every type of investment, if you have the proper knowledge, then definitely you will make the most profits out of the investment. I have seen many people after investing in Bitcoins for a week starts complaining that, the price doesn’t go up. They don’t know how market works and don’t know the concept of supply and demand, hence the prerequisite knowledge is definitively the top priority here. It also helps to minimise the risk involved in the investment.

Actually in addition, I want to let us know that bitcoin is not only investment option we can invest on, bitcoin is a investment that any other person can partake in cryptocurrency investment, but the process is that many left other investment and focus on investment, what you portray here is real for the process whereby people after investing in bitcoin they began to regret of the investment due to the nature of the market, bitcoin investment is good when someone want to invest for long term, and also when someone is not curious to know what the market of bitcoin is all about, that's while we do advice people to invest with their spare money or invest with what they can afford to lose.

[jrrsparkles]

I came across a post made on this forum by someone that says he has $20k for investment as such he was looking for people to advice him on how to go about it, for me it was actually a bad idea consorting everyone for investment advice because you could be lured by scammers to invest on a shitcoin as such loosing all your money because of lack of knowledge about Bitcoin or any investment in general, as someone that has no idea on investment I think the first thing was research google to learn more and also the risk involves. so I was thrilled to create this topic, so everyone could help by sharing there own knowledge on what someone that has no knowledge about investment should no before venturing into.

I feel asking question itself being a part of our own research since bitcointalk is the most active crypto community so they may get some actual opinion which may be different from that OPs perspective still it can be taken into consideration. But we can't simply jump into investment decisions because someone in the online told it so, its our job to ensure their point is right and it will work for us or not?

[rat03gopoh]

Knowledge is not everything, Kiyosaki wrote a best selling book about investments and went bankrupt himself 3 times in a row, some kid who had 10 000 allowance and had everything like internet and a computer and a ton of free time in 2010 could have made more money by spending $10 it on a whim on Bitcoin than any professional trader would be able to do in all his life with that amount. SBF had probably 1% of the knowledge Bitcoin developers have but at the same time he made for sure a thousands times more money than they do.

Having some basic knowledge can at least prevent you from making unnecessary mistakes, and not make you look stupid at first impressions of others when you present your higher financial level to the average Joe.
If I teach you many things it doesn't mean I won't make mistakes in the future, every new field I explore will have different challenges. On the other hand, a new field for you doesn't mean it is new for me.

[flyingcarpet]

I came across a post made on this forum by someone that says he has $20k for investment as such he was looking for people to advice him on how to go about it, for me it was actually a bad idea consorting everyone for investment advice because you could be lured by scammers to invest on a shitcoin as such loosing all your money because of lack of knowledge about Bitcoin or any investment in general, as someone that has no idea on investment I think the first thing was research google to learn more and also the risk involves. so I was thrilled to create this topic, so everyone could help by sharing there own knowledge on what someone that has no knowledge about investment should no before venturing into.

I may not be the right person for investment advice that's why I'm asking everyone to share their advice, views and knowledge incase something like this should come up, so people could learn and no what must be done before going into investment.

It is not difficult to research and learn something. Those who act according to the ideas of others also share in the mistakes of others. So the best advice I can give is to improve yourself. There are thousands of ways to do this enhancement. Watch, learn and practice your own way.

And there is an important point, you should not always trust the people who give you advice. It can't hurt to be skeptical.

You can even improve yourself by reading the topics opened in this forum. Of course, someone will say their ideas, the important thing here is that you can analyze whether those ideas will lead you to the better.