think before investing

[Smartgoat]

I became more interesting on this topic when my friend hard about the profit on trading and investing on bitcoins.without  the ideas or knowledge about it. because he only hard  that, there are high profit on investing on Bitcoin. without knowing how Bitcoin is been trade. he went and sold his property to invest on Bitcoin without been knowledgeable about it. he went ahead and invest but loss everything because he doesn't know how to trade Bitcoin. 

He came and told me everything. i feel pity on him, and started teaching him how Bitcoin is been trade and invest. He was very serious to lean and now his happy and his doing very well. in every business or investment you are in backing on, I think you need to lean and be  knowledgeable about it before you invest on it.

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he went and sold his property to invest on Bitcoin without been knowledgeable about it. he went ahead and invest but loss everything because he doesn't know how to trade Bitcoin.

Do not get it wrong, your friend did not invested in bitcoin, he was trading which is another thing entirely. Bitcoin ATH is $69000. Bitcoin today price is $29800 now. Even if he invested in bitcoin at ATH, he would not have lost everything. And bitcoin will still get to $69000 and increase above the price, only what is needed is time.

If he invested in bitcoin, time of profit will come even if he invested at the wrong time.

Anyone that wants to invest in bitcoin can gain more if they are able to make research about bitcoin price, bitcoin halving and following the latest news like spot bitcoin ETF in United States.

[uneng]

Then your friend should have just held Bitcoin instead of trading it, so he could have waited BTC price to increase to sell for profit at once, instead of risking it everyday through daily trading. And doesn't matter how experienced you are on crypto market, trading will be always a risky deal. The market is too volatile and you may end selling BTC cheaper than you bought, if you aren't a patient investor who forgot drawing long term goals when planning the investment.

[Nwada001]

without knowing how Bitcoin is been trade.

It's actually possible for one to invest and earn profit from bitcoin without having trading knowledge, as what is just required of you is to buy and hold. When it is time to sell, you can contact someone whom you can either do P2P with or who can help you sell it in an open market.

he went and sold his property to invest on Bitcoin without been knowledgeable about it.

This is the end result of being misinformed about something. Misinformation always leads people to make bad decisions that usually end up affecting them. If the person who invited the person in question was wise enough to explain to him that Bitcoin is not a get-rich-quick scheme, I don't think the person could have hurriedly rushed to sell off his land just to invest as if Bitcoin is running or they have seen that the price wants to pump in the coming days and they want to take advantage of it.

But by the way, how did the buyer eventually lose everything just in a short period of time, as just holding bitcoin without trading it will not liquidate your assets; instead, the value will only reduce, which you can still sell off anytime and take what is left? Or did the guy in question buy the bitcoin and decide to use it on future trading, which I believe is the fastest way for one to lose everything within a short duration? Or could it be possible that the story is just an illusion?  

[acroman08]

though I feel bad about your friend losing his money through trading Bitcoin, but I think he's foolish to sell his property and use the money to buy Bitcoin and trade without any knowledge about it. the dude literally wasted his money because he got too greedy when he heard about "high profit" when trading or investing in Bitcoin. glad the friend is doing well though(at least according to your post).

[rikybrosh]

knowledge is very important, some new people buy bitcoin and hope that bitcoin price rise after they bought it. they see bitcoin as magical thing that will change their life. DCA is very improtant for new people who invest in bitcoin.

[Stella Mese]

Before investing in BTC, of ​​course, knowledge must be prioritized because without prior knowledge, of course, the potential for losses will be greater.

Your topic is certainly an example, especially for a beginner, that is, for those who are interested in investing in BTC, of ​​course, must first prioritize knowledge, if our have a lot of knowledge, then our can invest in BTC.

[CryptoBuds]

I became more interesting on this topic when my friend hard about the profit on trading and investing on bitcoins.without  the ideas or knowledge about it. because he only hard  that, there are high profit on investing on Bitcoin. without knowing how Bitcoin is been trade. he went and sold his property to invest on Bitcoin without been knowledgeable about it. he went ahead and invest but loss everything because he doesn't know how to trade Bitcoin. 

He came and told me everything. i feel pity on him, and started teaching him how Bitcoin is been trade and invest. He was very serious to lean and now his happy and his doing very well. in every business or investment you are in backing on, I think you need to lean and be  knowledgeable about it before you invest on it.

Investing without knowledge is like gambling and after their investment is lost all because of their greed and stupidity, they start blaming bitcoin as a scam, as gambling. Lazy people and get-rich-quick mindsets deserve it, it's a valuable lesson for your friend. You're helping him start over, which is a blessing.

But I hope you know what you are doing because it is not easy to teach others to invest and trade, because we cannot even be sure if our investment is profitable or not. Teaching others to get rich is very risky.

[YUriy1991]

Interesting story, of course, but I like your friend's style to have the courage to enter the market. even though there are many obstacles on the way, at least when he consults with you quickly, your friend can educate him on the tricks and patterns and the feeling is born because he doesn't know how to trade Bitcoin properly and correctly.

Yes. when we fall into investing, we need strong support from friends or anyone who is smart and proficient because the psychology here is very influential so that if your friend enters the market again, his confidence will increase because the technique has been mastered. for me, your friend has a strong mentality and besides that he knows BTC is not just any coin.

[Fiatless]

I became more interesting on this topic when my friend hard about the profit on trading and investing on bitcoins.without  the ideas or knowledge about it. because he only hard  that, there are high profit on investing on Bitcoin. without knowing how Bitcoin is been trade. he went and sold his property to invest on Bitcoin without been knowledgeable about it. he went ahead and invest but loss everything because he doesn't know how to trade Bitcoin.

Investing in any business without proper knowledge will ultimately lead to losses. I am suspecting that your friend was driven by greed so he invested in a Ponzi or scam scheme that claimed to be a Bitcoin investment scheme. The reason for my suspicion is that you said he lost all his money, meanwhile, Bitcoin prices have not dropped to zero. Many scam schemes promise huge gains and pretend to be Bitcoin investments all over cyberspace. So one needs to verify the genuineness of any scheme before investing.

He came and told me everything. i feel pity on him, and started teaching him how Bitcoin is been trade and invest. He was very serious to lean and now his happy and his doing very well. in every business or investment you are in backing on, I think you need to lean and be  knowledgeable about it before you invest on it.

Your advice is cool. The rule is to learn before investing. Don't be driven by greed or the desire to get rich quickly. The time spent on learning is not a waste because it will save you from avoidable losses. I am glad your friend has put his loss behind and is now willing to learn.

[fauzan Ichsan]

sometimes it is human nature that leads to misery, in a hurry to immediately make investments so that they are like their friends who are already successful, unknowingly not having a background in knowledge about bitcoin, so bad things happen. therefore knowledge is very important before investing, the rest we can invest calmly. Of course panic selling is the main obstacle for novice investors who see prices actually dropping, and the fear that all the money will run out, and after that many say that bitcoin investment is a fraud, even though they themselves make mistakes

[Solokan]

if we want to be successful in all fields such as investing in btc and so on, of course what must be prioritized is knowledge because without prior knowledge, of course, the potential for losses will be greater. but op I admire you because you have taught your friend about trading btc, but in my opinion you also need to teach him about long-term investing in btc, with the aim that he understands more about btc. but of course the decision is in the hands of your friend whether he wants to invest short term or long term.

and to be honest i also like short term investment and long term investment in btc. so in my opinion op you can also invite your friends to join this forum so that he gets broad insights about crypto

[armanda90]

Don't try investing in Bitcoin or cryptocurrency with lack knowledge, too risk for your friend when selling his property assets and use for investing in Bitcoin because he still not popular yet advantage and investing working in Bitcoin. Actually when having bitcoin its simple thing and the same what did with property investing, he can find for investing in lower price and sell later when bitcoin going up to higher price. But your friend have mistake without understand yet with Bitcoin and start investing by selling his property.

Have been human habit, when hearing about new kinds of investment as faster get profit they will try and leave what their business have build for long time, its the same with your friend by selling property and start investing in bitcoin although in lack knowledge of bitcoin.

[laurenB7742]

Don't try investing in Bitcoin or cryptocurrency with lack knowledge, too risk for your friend when selling his property assets and use for investing in Bitcoin because he still not popular yet advantage and investing working in Bitcoin. Actually when having bitcoin its simple thing and the same what did with property investing, he can find for investing in lower price and sell later when bitcoin going up to higher price. But your friend have mistake without understand yet with Bitcoin and start investing by selling his property.

Have been human habit, when hearing about new kinds of investment as faster get profit they will try and leave what their business have build for long time, its the same with your friend by selling property and start investing in bitcoin although in lack knowledge of bitcoin.

I don't think they're trying bitcoin, once they've determined to sell their assets to invest in bitcoin they're serious about it. But they quickly fail because their naivety and greedy instincts make them think that making money from bitcoin is easy and requires no knowledge. This not only happens to you of the OP but a lot of newbies have these misconceptions as well. They just look at other people's success and think it's easy to achieve, but they don't know those who have successfully invested in bitcoin, they sacrificed a lot to get there.

[adaseb]

It’s not only Bitcoin that is risky. It’s any type of investment out there that is not considered a government bond pretty much.

Many made money by investing in crypto but many also lost money. No different for all those people who lost money in 2022-23 with the stock market when it took a large dive. For example look how low Facebook, Netflix and Tesla went and look at the price now.

Bitcoin is no different.

[mindrust]

Warren Buffett says that he doesn’t invest in a business which he doesn’t understand. That’s a great quote imo. If you don’t understand what you are investing in, then you will probably lose money because you will make lots of other bad decisions as well. Your friend was a great example. People shouldn’t even buy a real estate unless they exactly know how the real estate business works. Stocks, bonds, crypto… they are also the same. Unless you don’t understand them, you shouldn’t invest in them.

[Gulttam2a2]

I became more interesting on this topic when my friend hard about the profit on trading and investing on bitcoins.without  the ideas or knowledge about it. because he only hard  that, there are high profit on investing on Bitcoin. without knowing how Bitcoin is been trade. he went and sold his property to invest on Bitcoin without been knowledgeable about it. he went ahead and invest but loss everything because he doesn't know how to trade Bitcoin. 

He came and told me everything. i feel pity on him, and started teaching him how Bitcoin is been trade and invest. He was very serious to lean and now his happy and his doing very well. in every business or investment you are in backing on, I think you need to lean and be  knowledgeable about it before you invest on it.

First of all congratulations and condolences to your friend. I am amazed to hear your story how your friend sold all his assets and invested in Bitcoin without even knowing about it. How can a person trade or invest in Bitcoin without any knowledge? It becomes like a gambling game which is win or lose. You said your friend lost everything investing in Bitcoin but my question is did he lose trading or investing? People seek help from others when they are in danger and that is what happened to your friend. In any business or investment we must have knowledge and we must know about the one I invest in or we will face danger in future.

[Ahli38]

I became more interesting on this topic when my friend hard about the profit on trading and investing on bitcoins.without  the ideas or knowledge about it. because he only hard  that, there are high profit on investing on Bitcoin. without knowing how Bitcoin is been trade. he went and sold his property to invest on Bitcoin without been knowledgeable about it. he went ahead and invest but loss everything because he doesn't know how to trade Bitcoin.  

He came and told me everything. i feel pity on him, and started teaching him how Bitcoin is been trade and invest. He was very serious to lean and now his happy and his doing very well. in every business or investment you are in backing on, I think you need to lean and be  knowledgeable about it before you invest on it.

If by now your friend has learned more about bitcoin from you then that is a great move. Even though your friend has to start from a defeat. But fortunately he chose to study in the end. And what I can say about bitcoin is that it is more suitable as a long term investment. And it is better to avoid short-term trades. Especially if we don't have enough insight and experience about trading. And between investing and trading there is a big difference. And it looks like your friend made a trade and maybe he panicked when the price crashed and started selling. Maybe you should start teaching about investment methods that are simpler and more measurable, such as the DCA method. we don't have to invest a lot at once. We can start investing gradually little by little with cold money that we can save for the long term. And remember if the initial intention is for a long term investment then it is better to avoid checking the market too often. Because it can affect our mentality in investing. Unless we are traders, it is natural to always check the market.

[Hamza2424]

I don't know why your friend was so dumb, sorry forusing such words but its the way to elaborate what he acted in.He sol his property by just hearing that the Bitcoin market is highly profit making, seem like your friend is very rich or he own a good capital at least more than a middle class person because He invested int he volatile market about which he don't know the ABC and he tried to invest in it.

I am very curious Op your point of mentioning is very important but 99% people always do a research weather its small or in depth before investing their money in any market they use to learn the basics. Trading is not like just Invetsing and holding it really need some decent skills and in such market conditions as for now only experts can trade because there is very tight range movement. Well I hope your friend got his life lesson by this event now he will be more focused to learn before earn.

[Nheer]

I became more interesting on this topic when my friend hard about the profit on trading and investing on bitcoins.without  the ideas or knowledge about it. because he only hard  that, there are high profit on investing on Bitcoin. without knowing how Bitcoin is been trade. he went and sold his property to invest on Bitcoin without been knowledgeable about it. he went ahead and invest but loss everything because he doesn't know how to trade Bitcoin. 

The most frequent mistake made by newcomers to trading or investing in bitcoin has always been negligence of learning first. Without considering the other side of the story, they let stories fill their heads about how people make money from trading and constantly view trading as a get-rich-quick scheme. They fail to realise that every successful story also has an opposite side that involves the struggle and instead assume that the successful individuals whose stories they have heard simply woke up one day and began making money. New traders frequently believe that they can start trading right away without any prior knowledge. Even if you have adequate information to trade, you still need to be careful how you go about it or you could end up losing money because trading involves a lot of dedication to understand the market and techniques to follow to minimise loss.

He came and told me everything. i feel pity on him, and started teaching him how Bitcoin is been trade and invest. He was very serious to lean and now his happy and his doing very well. in every business or investment you are in backing on, I think you need to lean and be  knowledgeable about it before you invest on it.

Making mistakes is sometimes the best teacher and experience is the best way to learn. He is fortunate to have you nearby because without you, he might have run to the books to learn how trading is conducted. Many people encounter a similar situation because they believe they can skip the learning phase and jump straight to the profitable part, but they all end up returning to the books to learn. Since nobody is born knowing everything, there is always a learning phase in life from which we cannot escape if we are to succeed in anything.