think before investing

[inthelongrun]

What kind of storytelling is this? Your friend sold his property and then lose it all because he doesn't know how to trade bitcoin? I doubt your used margin trading knowing he is a newbie and does not know much about trading. If your friend bought bitcoin then he didn't lose it all then? Was he hacked?

And then you felt pity for your friend and then you teach him how to trade and invest? And he is now doing well and happy? So you are a very very good trader then? Maybe you should also post in trading discussions and share with us your technical analysis and your favorite indicators.

[legendbtc]

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.

I don't find it believable that as op said his friend has no idea about bitcoin yet he sold his land to invest in bitcoin. That's because if I want to invest in something, of course I don't have a good idea about it, but I have a partial idea, then I will invest there, and an important thing like selling land. The op said that his friend lost everything, but I think that in Bitcoin, if Shaw stroke. Even if he keeps his entire capital will not be lost he will sell it when its value increases otherwise he can withdraw what he has. DCA is very important for those who are new to bitcoin and want to invest in bitcoin like op friend.

As OP said, his friend is trading not investing and I think he is trading futures so the loss is understandable. But I also doubt what OP said, I don't believe anyone would easily sell land to invest in something they know nothing about. If it is a savings or a large amount of money I have no doubt, but selling the land is another matter.

But OP's story is also a reminder for newbies who are intending to invest in bitcoin. They should have knowledge before wanting to invest and should only invest with idle money, the amount that they can lose.

[taufik123]

What kind of storytelling is this? Your friend sold his property and then lose it all because he doesn't know how to trade bitcoin? I doubt your used margin trading knowing he is a newbie and does not know much about trading. If your friend bought bitcoin then he didn't lose it all then? Was he hacked?
-snip-

That's also what I thought, he might be doing Margin trading or Futures trading which would certainly be very risky for beginners who don't understand anything about trading.

He probably used high leverage and bought with all his money. There will be no loss when we buy Bitcoin and hold it.
But if trading in futures and not for the long term, then there will be a lot of losses, because it does not have good trading knowledge.

[khiholangkang]

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.

LOL, he seems to be a FOMO with wishful thinking of getting huge profits from investing in bitcoin from people's stories through social media or news that are read and heard, the second mistake he sold his property which made him think he lost everything, of course having that understanding is the most important thing in any business and investment, without understanding and knowledge it is the stupidest decision.

And investing in bitcoin will get you a big profit if you hold on to it in the long term, that is a fact, rushing in the hope of making a profit is ridiculous in investing especially investing in bitcoin, unless god wants bitcoin to be accepted as a means of payment around the world a few days after he buys bitcoins.

[jeraldskie11]

Having a knowledge is a must when a person is going to invest or trade. If you are profitable after investing and trading without having a knowledge in Bitcoin then what you're doing is gambling. Gambling is just a matter of chances and there is no guarantee that you will be profitable in the long run. When you're going to trade, you have to be knowledgeable about Bitcoin because there is a higher chance to lose than to win. Even those who are knowledgeable and profitable sometimes lose consistently, how much more if the person who trade don't have enough knowledge. So knowledge in trading is necessary.

[ChiBitCTy]

Learn* not lean. 

I have to ask, why does it always have to be about "investing" and "profits" when it comes to bitcoin?  I'm not trying to come down on you, but that's not what learning about bitcoin is all about.  Learning about bitcoin is understanding why it was created, how it functions (the blockchain) and things like how it could change the way we look at and use money and how we use "money" moving forward.

Profits and what not are great, but lets not forget bitcoin is inherently NOT an investment.

[dothebeats]

Having a knowledge is a must when a person is going to invest or trade. If you are profitable after investing and trading without having a knowledge in Bitcoin then what you're doing is gambling. Gambling is just a matter of chances and there is no guarantee that you will be profitable in the long run. When you're going to trade, you have to be knowledgeable about Bitcoin because there is a higher chance to lose than to win. Even those who are knowledgeable and profitable sometimes lose consistently, how much more if the person who trade don't have enough knowledge. So knowledge in trading is necessary.

Absolutely. You have to know where your money is going in order to ensure that you know the risk of the reward you are hoping to get. Without any background knowledge, it will be a gamble to invest blindly. It's like you are just handing your money and letting whatever you invest in decide whether you will get your money with a profit or none of it at all. Having knowledge is like having control, well at least a sense of it.

[Gladitorcomeback]

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. 

This is common problem in our investors and they  think that the profit is lying on the ground, all you have to do is pick it up. Without knowledge its very hard to understand the full system of any thing and this happen with your friend that he did not get knowledge properly and faced loss.

I believe that currently BTC is very good investment and holding btc is required to enjoy the future life but i am against to sell property (needed) or taking loan because Bitcoin is volatile coin and no one give guarantee that btc price will rise from your buying point and very possible that it will down and then you have to wait long for recovering. we should use only our extra fund, no matter if we start from low.

[SOKO-DEKE]

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. 

This is the reason why many people easily got scammed in the cryptocurrency industry and later started blaming the cryptocurrency industry for the scam. Sometimes I do wonder why someone who wants to be successful in any business and will just invest without having a proper knowledge of where he/she wants to invest, but I think it is the eagerness to make it quickly that is what makes some people jump in and invest money on what they don't know anything about but are just confused by people's sweet words. So to be successful in any form of business, you need knowledge about it first before you invest. Assuming your friend calms down and gains good knowledge about cryptocurrency, it would have not lose money by now and should just continue accumulating, which will give it hope for more profit.

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.

Knowledge is the first step in any form of business that a person needs to consider because it is what will make someone decide if the business or investment may be worth putting money into. I believe your friend has learned from his mistake, which is why he decided to learn and pay more attention to what he is learning. This will seriously be a great help to your friend, but my advice to you is to tell your friend to also start to do more research on his own and not only depend on what you are teaching, and I believe that will seriously help your friend.

[bayu7adi]

Be it a true account or a work of fiction, opting to funnel substantial resources devoid of any reservoir of knowledge is an egregiously imprudent course of action. Even I, personally, meticulously weigh each expenditure in accordance with my erudition. This dynamic is inextricably tied to the financial acumen of each individual.

I am firmly convinced that real estate prices across the globe do not come cheap, implying that those who venture into Bitcoin investments sans a profound understanding of the intricacies of the Bitcoin market are, frankly, making an ill-informed choice. Relying solely on luck as a decision-making strategy is hardly sustainable. Acquiring insights into the Bitcoin market serves as a valuable tool to amplify the prospects of investment optimization.

Therefore, if you happen to be in close quarters with this individual, do extend a helping hand in acquainting them with the nuances of the Bitcoin market.

[Wimex]

It's just that it's reasonable not to do that, I also had errors of this type, but not as pronounced, that is, the loss wasn't much, but imagine that I suddenly decided to sell a property and start marketing without knowing anything, I think that was very extreme, if you are a rookie for more reason you should have been careful, you were going to explore unknown territory, but well, there are people who have enough to not care about losing, and I really hope it was the case, because or if not, sincerely people You must be aware that money is not a game, many find it difficult to keep up with this inflation to decide one day to gamble it all away and end up in ruins just by seeking to quickly increase their assets... it is a resounding mistake to do this.
You did well to help your friend, thank goodness and he still had a chance to recover... and I agree with you, impulses are not always good, you have to be prepared, and practice before getting into any business, whether crypto or not .

[Victorik]

I beg to disagree that your friend lost all his investment from trading Bitcoin. What kind of cock and bull story is that? Probably he invested in some shitty altcoins and got his finger burnt or probably you are just making up to whole story.

[Lida93]

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.

The challenges most newly adopters of bitcoin are facing is as a result of lack of research on bitcoin use cases, for they can't clearly differentiate between investing and trading on bitcoin. Investing In a hurry without a plan target wether for a short term or long.

The price  position at which you entered your investment also determines yours duration plan for your investment to start yielding profit. Nobody really loses on bitcoin so long as they have patience with their investment, and this patience is borne by your knowledge of what you're doing.

[Smartgoat]

. 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.

in every thing you do, there must be a leaning ground first. many people have jumped into a business or investment without knowing the ideas of the business. and it have make them loss everything for the business. I understand here that, in any business or investment you are going into, you need to lean and master it before going to it, to avoid Losing everything. I sell some of my propertys to invest on Bitcoin and before I invested, I lean and I'm still learning. because nobody want to go into a business for loss.

[Altryist]

The challenges most newly adopters of bitcoin are facing is as a result of lack of research on bitcoin use cases, for they can't clearly differentiate between investing and trading on bitcoin. Investing In a hurry without a plan target wether for a short term or long.

The price  position at which you entered your investment also determines yours duration plan for your investment to start yielding profit. Nobody really loses on bitcoin so long as they have patience with their investment, and this patience is borne by your knowledge of what you're doing.

Even long-term investors try to sell their bitcoins at some point in order to buy even more bitcoins in the subsequent bear market. But there is a big difference in how and when to do it, if it is done without proper knowledge, then it will lead to losses. You can just buy and wait, without any attempts to sell and buy more, in this case there will also be a profit, and for someone this choice will be the best solution if in trading he is not very good.

[GreatArkansas]

(......)

Even long-term investors try to sell their bitcoins at some point in order to buy even more bitcoins in the subsequent bear market. But there is a big difference in how and when to do it, if it is done without proper knowledge, then it will lead to losses. You can just buy and wait, without any attempts to sell and buy more, in this case there will also be a profit, and for someone this choice will be the best solution if in trading he is not very good.

And for every investment, I believe we must take profits, we need to enjoy profits, that's one of many purposes of investment, even in non-bitcoin or cryptocurrency investment related.
Some also considering having fund for their trading and some are have portfolio for long term where it is separated from their trading account, you can also do this but make sure to take it serious.

[Latviand]

How in hell did you not warned your friend about investing in bitcoin by selling property and then teaching him about it when he finally lost his money? You've known about it, there should've been some way that you could've intervened with your friend's decision. Your title is right though, definitely have a think before investing. I don't want to accuse you but this topic seem a bit fishy, like it's not entirely true or the facts aren't straight because it's not your story and you're just retelling it inaccurately.

[Bitcoin_people]

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.

One should always be strict about this because it must be known when starting Bitcoin trading. A person must first have a good knowledge of Bitcoin to invest in Bitcoin. And it is possible to earn profit by investing in Bitcoin but before investing a person must know about the volatility of Bitcoin market. If one invests with full knowledge of all things then one must not face loss and earn good amount of profit. However, many people who invest in Bitcoins are seen taking loans and are often at risk, so Bitcoin investments should never be done with loans. If you want to invest in Bitcoin, it will definitely be better for you to start investing with your own savings. And before investing, you must analyze the market well and take the advice of a good professional trader.

[Kakmakr]

The people who lose everything are just greedy and trigger happy....

I had friends who knew nothing about Bitcoin and they rushed into the first thing that had "Bitcoin" in their pitch. Unfortunately some of these investments were Ponzi schemes that promised huge profits. They did not think twice.. or did any research, including asking me if it was the real deal... so they lost a large amount of money being greedy.

When you buy & Sell Bitcoin you have to be patient.... it is not a "Get rich quick scheme" or something that gives you a constant passive income. You simply buy low..... wait for a rise in the price ...and sell at a ATH. 

[LDL]

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

Acquiring the right knowledge for investing in Bitcoin is important, but some other important considerations should be added as well. Timing for investment is the most important thing here if you don't invest at the right time you won't get profit from your invested coins in later future. Moreover, long-term investment planning is another important pre-condition for investment. But another important factor in investing is the risk-taking mentality. If you can't bear the risk in investing then you don't invest.