Bitcoin kwoledge is not complete without bitcoin investment

[Pi-network314159]

Last week Monday, I recieved my rent, but guess what I was scared of investing it on bitcoin because I was having so many thoughts in my head telling me to invest and not to invest. I continued with my forum activities and kept on reading, at a point, I got to realize that what will I gain, if I have the knowledge of bitcoin and I don't invest in it to have the experience on using bitcoin and to also have the experience of holding in long term, so that i can talk about bitcoin from experience. This means that it is important for me to buy bitcoin to acquire more knowledge,and this will be an advantage for me to buy bitcoin now that the price is dip, before it pumps back. Yesterday, I used 60% of the money my tenant paid me to buy bitcoin and I was relieved and happy. I have also created an electrum wallet which I have transfered my coins into, the reason why I chose electrum wallet because it is noncustodial with RBF and Ligthening Network features, which can allow you to double spend,incase the network is congested and your transaction fee is low,since sometimes bitcoin blockchain used to be congested with dust transactions.

Yeah actually you did the right thing. Although am a new person here and I need to lean more but we all are learning. If actually you did it earlier i think you would have made some buks by now I think this particular word buy the dip and hold , Has fully emphasis on how to buy when it's dip because Bitcoin will surely rise. Just check the time this thread was created I think Bitcoin was around $25 to 26k but today Bitcoin is now $34k some one who bought 2bitcoin at 3weeks ago at the rate of $50k is now having a total sum of $68k. Which mean the person is now $18k reacher that is the power of holding. Not necessarily mean you must buy that amount because you would buy what you can afford but as beginner.

[1714500105]

1714500105

[1714500105]

1714500105

[1714500105]

1714500105

[Samlucky O]

I intend to hold by bitcoin for long, because I just started my bitcoin journey and, I know that it isn't going to be an easy one for a newbie like me. I will use 10% of my income to DCA every month, because I also noticed that fiat currency is depreciating due to inflation and that it is better that I save in bitcoin than to keep it in fiat. The moment my bitcoin reaches $1000, I will look on how to transfer my coins to a cold storage wallet for safety. I couldn't keep this to myself and I said let me bring this to the forum for advise from experienced members on precautions I need to take for me to achieve my bitcoin goal target.

If you haven't invested in bitcoin yet, you should try and do so, if you have the resources so that you can feel the vibes that am feeling right now.

Let's discuss.

You just made the write decision. What keep people from growing is procrastination. Success is always a try an error attempt. If one does not make a move rather procrastinating you will see yourself always stagnant. "Action speak a louder than voice" they said. In this

This which you have said here is very inportant, in my cuntry inflation has eaten up the economy and those who are into crypto currency are advantageous of it. When you apply the DCA method and hold, your coin you will be free from economic inflation. As fiat currency falls so Bitcoin gains. Indeed you have make the write decision and I think you will never regret. But make sure you have a steady sorce of income sothat your Bitcoin investment shouldn't be tampered unnecessarily.

[Odohu]

OP you are right that knowledge in bitcoin is not complete without investing in bitcoin. If we want to do any work, first of all we need to gain knowledge about that work. Now I have acquired the knowledge to do business. For example, how to purchase goods? How to sell goods? I cannot do business easily if I am not shown practically in that regard. On the other hand, if we look at Bitcoin, we see the same phenomenon. On the other hand what is the use of gaining knowledge in Bitcoin if you don't invest in Bitcoin. Now if I have gained knowledge about Bitcoin in all aspects. For example, how to invest, how to save in wallet, etc. now how do I know that my knowledge about Bitcoin is complete? So I need to invest in Bitcoin to gain complete knowledge in Bitcoin. But beginners should invest small amounts. Of course everyone stay away from altcoins, choose Bitcoin.

I agree with you that one will not understand anything about bitcoin or fully master bitcoin technology without buying bitcoins and only learning. So I think to gain full idea about Bitcoin or to gain knowledge you need to invest in Bitcoin otherwise it is not possible to gain full knowledge about Bitcoin.And finally, I think you must ensure your own security before you can be considered a bitcoin bitcoinist.

This seems to me like a mixed up or something close to that. The technical aspect of Bitcoin is totally different from the investment aspect of Bitcoin and both require different approach as well as psychology. The technology behind Bitcoin is easier for those who are tech savvy or have committed so much time learning it while the investment aspect resonate more with those who understand how to create and sustain wealth. The later sees Bitcoin as money and pay little to no attention to the programs or code behind it.

Let me draw your attention to fiat payment systems where people use cards implanted with chips. More than 90% of the people using these cards do not know the tech behind it neither do they understand the electronic circuit configuration of these cards. The best they know about these cards is how to protect their pin, and other sensitive information as well as the physical cards. This is like the basic knowledge of Bitcoin... how to buy, secure and protect the wallets.

Like many people have already commented here, investment in Bitcoin does not require so much knowledge of Bitcoin... just the basic knowledge. Meanwhile, being too knowledgeable in Bitcoin without actually investing in Bitcoin make you somehow incomplete as you will not fully appreciate the practicality of the knowledge you have.

[Sim_card]

I'd ask if you needed to be knowledgeable to be successful. Isn't it possible you'd be capable of investing in Bitcoin successfully if you didn't know everything about how it work. What you know about blockchains, forks & fees shouldn't stop you on how to make max profits but risks will remain.

Choosing the right investment, and the right coins seems very important which is why we should be knowledgeable enough and know what is crypto before investing. It was not too risky as we thought unless we didn't know what we were doing.

Life is all about risk and that is how every investment comes with her own risk. Most times when we put the risk associated with an investment in our minds when venturing into it, this will make us careful with the investment and learn about the risk management in that investment so that one can be successful in it.

This is the same thing with bitcoin, you don't need to know everything on bitcoin before you invest. Rather you should know the basics and then buy bitcoin and Hodli. This is where anyone that want to be successful in his bitcoin journey will ask about the risk management, which is invest in a long term. I believe that is the only way to manage risk in bitcoin investment, because when you are in a long term investment, you can accumulate frequently, and also learn more on any angle of bitcoin that is of your interest or better still majority knowledge on bitcoin.

It is simple as this, know the basics and how to less the risk in your bitcoin investment, which boils down to invest in a long term, and have emergency funds and on reserve, so that you don't sell your bitcoin when it is not of your will. In bitcoin journey, experience plays a major role on accumulating and hodli to be successful.

Altcoins will be a big mistake for anyone that wants to  invest and continue learning about it, because it can't be a long term investment, and it will also be a waste of time and resources to do that. Only bitcoin can be used for such because it has come to stay.

However, your insistence on the singularity of Bitcoin's dominance over altcoins is... interesting. Every purchase, every coin, has its own risks and prospects.Some altcoins may not have the same long-term image as Bitcoin, but it seems short-sighted to completely ignore them. A golden rule for investing is to spread your money around. This is especially true in the world of crypto, where putting all your coins, or eggs, in one box might not always be the smartest thing to do. Yes, experience is important, but so is the ability to change and adapt.

When one means diversify...this doesn't really mean that it should be done on the same line of investment. For instance, if I am a bitcoin investor and I want to diversify, I am to diversify into stock, gold or bond and not in cryptocurrency anymore, this is because they are all following the price movement of bitcoin. If bitcoin dumps, those altcoins dumps and vice-versa. As long as you have investment in the superior of all cryptocurrency, which is bitcoin, there is no need you think of those altcoins because you will end up losing your funds if you want to hodli for long, and you will not have a rest of mind because they are centralized, and one day the dev can just shut down and move away with your funds. You wouldn't have anyone to blame but yourself. We have seen so many altcoins that have crashed in the past and I believe that these existing ones will still crash because they are have the same features. Investing in altcoins is gambling and I wouldn't advise anyone to spread his funds around different coins, but to stick with bitcoin alone because it is only bitcoin long term investment that is profitable and guaranteed. Especially this thread is encouraging newbies to start investing now, instead of them to learn everything on bitcoin first, which makes it unethical for newbies to think of investing in altcoins when we know that it is not a good start for anyone new in the cryptospace. Newbies and other investors should invest in bitcoin alone, and if you have acquired your target amount of bitcoin, you might invest in altcoins if you feel like to gamble with them. However, we are different and have our own various ways of investing that we think will work for us.

[cryptoWODL]

If we learn something if we do not use it in practice then we do not gain full knowledge about it. Likewise, if we who know or understand about Bitcoin do not use Bitcoin, then the knowledge about Bitcoin will remain incomplete. Bitcoin usage refers to investing or trading Bitcoins. For example, if we study, we have to take an exam to give real evidence of this study. How well we do in exams depends on how much we study. Similarly, investing in bitcoins shows how much you know or know about bitcoins. I think the knowledge of learning Bitcoin remains incomplete without investing in Bitcoin.

[Bitcoinpoly]

I am not suppose to say this here but i want forum members to advice and tell me on how I can go with my bitcoin journey as a newbie and become successful in it without losing my bitcoin. My Dad is late and he left us a building which I and my siblings inherited. I rented my own apartment because I stay in a more civilized area. Whenever my tenant pays me my rent, I just keep the money in the bank and sometimes it stays there for more than six months in my account because I have a job that takes care of my responsibilities. This year when I joined this forum, after reading through topics and comments from forum users on bitcoin investment, I said to myself that it will be wise if i give bitcoin investment a trial and see how it will feel like holding a bitcoin.

Last week Monday, I recieved my rent, but guess what I was scared of investing it on bitcoin because I was having so many thoughts in my head telling me to invest and not to invest. I continued with my forum activities and kept on reading, at a point, I got to realize that what will I gain, if I have the knowledge of bitcoin and I don't invest in it to have the experience on using bitcoin and to also have the experience of holding in long term, so that i can talk about bitcoin from experience. This means that it is important for me to buy bitcoin to acquire more knowledge,and this will be an advantage for me  to buy bitcoin now that the price is dip, before it pumps back. Yesterday, I used 60% of the money my tenant paid me to buy bitcoin and I was relieved and happy. I have also created an electrum wallet which I have transfered my coins into, the reason why I chose electrum wallet because it is noncustodial with RBF and Ligthening Network features, which can allow you to double spend,incase the network is congested and your transaction fee is low,since sometimes bitcoin blockchain used to be congested with dust transactions.

I intend to hold by bitcoin for long, because I just started my bitcoin journey and, I know that it isn't going to be an easy one for a newbie like me. I will use 10% of my income to DCA every month, because I also noticed that fiat currency is depreciating due to inflation and that it is better that I save in bitcoin than to keep it in fiat. The moment my bitcoin reaches $1000, I will look on how to transfer my coins to a cold storage wallet for safety. I couldn't keep this to myself and I said let me bring this to the forum for advise from experienced members on precautions I need to take for me to achieve my bitcoin goal target.

If you haven't invested in bitcoin yet, you should try and do so, if you have the resources so that you can feel the vibes that am feeling right now.

Let's discuss.

Bitcoin investment is really good when you have good knowledge of technical analysis, there are some opportunities like DCA in order to help you make profit. Also those who aren’t familiar with DCA can make use of some functions like Bitget smart portfolio in order to help manage your assets automatically.

[Litzki1990]

OP you are right that knowledge in bitcoin is not complete without investing in bitcoin. If we want to do any work, first of all we need to gain knowledge about that work. Now I have acquired the knowledge to do business. For example, how to purchase goods? How to sell goods? I cannot do business easily if I am not shown practically in that regard. On the other hand, if we look at Bitcoin, we see the same phenomenon. On the other hand what is the use of gaining knowledge in Bitcoin if you don't invest in Bitcoin. Now if I have gained knowledge about Bitcoin in all aspects. For example, how to invest, how to save in wallet, etc. now how do I know that my knowledge about Bitcoin is complete? So I need to invest in Bitcoin to gain complete knowledge in Bitcoin. But beginners should invest small amounts. Of course everyone stay away from altcoins, choose Bitcoin.

I agree with you that one will not understand anything about bitcoin or fully master bitcoin technology without buying bitcoins and only learning. So I think to gain full idea about Bitcoin or to gain knowledge you need to invest in Bitcoin otherwise it is not possible to gain full knowledge about Bitcoin.And finally, I think you must ensure your own security before you can be considered a bitcoin bitcoinist.

There is a big difference between learning about a subject and applying it. Education about a subject will make you knowledgeable about that subject but actual knowledge about a subject will make you much more skilled and experienced in that subject. As much as it is important to know something, it is more important to put it into practice. 

It is as easy as seeing an operation done by a doctor, but many times more difficult. A surgeon does not become a surgeon so easily as he has learned enough about surgery and he has practiced enough about surgery and when he has practiced enough he becomes a surgeon at some point. 
Be it medical department or technical department, practical education is most important everywhere. 

Gaining knowledge about investing in Bitcoin is easy, in this age of technology one can easily gain knowledge about investing but a person cannot gain real knowledge about investing in Bitcoin so easily. An investor needs to be directly involved with the investment to gain a real understanding of the investment. 

If an investor is directly involved in investing in bitcoin, he will invest periodically and he will realize his mistakes and he will work on his mistakes, then he will invest again and if something goes wrong, he will work on his mistakes again. But this is how an investor transforms himself into an efficient investor.

[danadc]

It is true, you cannot sell a product without having consumed it yourself, this can cause many things that can be quite good, I think that every person who is a fan of Bitcoin has to have Bitcoin and it can be in their mind to always have more and more , I try to have more in what I can, it is difficult, but not impossible, even if you trade for a long time it can be done, but when things are done to be better, the future also has to Be built on bitcoin and that can Being something that has to make us buy every time we can, our investment in an asset that can explode in large proportions is a thousand times Better than a bank where they Charge you for Interest.

[flyingcarpet]

It is true, you cannot sell a product without having consumed it yourself, this can cause many things that can be quite good, I think that every person who is a fan of Bitcoin has to have Bitcoin and it can be in their mind to always have more and more , I try to have more in what I can, it is difficult, but not impossible, even if you trade for a long time it can be done, but when things are done to be better, the future also has to Be built on bitcoin and that can Being something that has to make us buy every time we can, our investment in an asset that can explode in large proportions is a thousand times Better than a bank where they Charge you for Interest.

It's a good thing that you are so determined to invest in Bitcoin. Buying Bitcoin with the money left over after meeting our needs is one of the best investments for the future. Bitcoin is on its way and Bitcoin investors know it. What makes Bitcoin special also makes its investors special. I wish everyone who wants to learn about Bitcoin and be able to invest when the opportunity arises.

We can complement Bitcoin knowledge by investing in Bitcoin. Things go better when we turn our knowledge into action.

[Essential10]

It is true, you cannot sell a product without having consumed it yourself, this can cause many things that can be quite good, I think that every person who is a fan of Bitcoin has to have Bitcoin and it can be in their mind to always have more and more , I try to have more in what I can, it is difficult, but not impossible, even if you trade for a long time it can be done, but when things are done to be better, the future also has to Be built on bitcoin and that can Being something that has to make us buy every time we can, our investment in an asset that can explode in large proportions is a thousand times Better than a bank where they Charge you for Interest.

From adequate knowledge of Bitcoin investing to no practical experience in Bitcoin investing, it seems to me like going for a test without a pen. Just as it is extremely foolish to take an exam without a pen, a person who thinks that after acquiring theoretical knowledge about Bitcoin investment that he knows everything about investing in Bitcoin, then his thinking is also very foolish. It is not only Bitcoin investing that requires practical experience, but outside of Bitcoin investing, one must have a practical understanding of everything. You are an engineer but you have no practical knowledge no matter the company will trust an experienced technician more than you because here that technician has more practical knowledge than you.

 Investing in reality helps to understand the basics of investing. If every investor has real experience about investment, then he can help others with correct information about investment in the light of that real experience, as a result of which new members will come to invest with positive thinking.

[JayJuanGee]

A golden rule for investing is to spread your money around. This is especially true in the world of crypto, where putting all your coins, or eggs, in one box might not always be the smartest thing to do. Yes, experience is important, but so is the ability to change and adapt.

That is not true.  There is no need to fuck around with shitcoins.

There could be some newbies to investing that might well start out by only having one investment until they get up to a certain size in which they start to feel a need to diversify.. but diversifying does not necessarily meant to go into shitcoins.

What are the thresholds to diversification might be another question, yet frequently this idea of some kind of need to diversify both distracts people from one of the best investments available (if not the best) and also may well cause them to dilute an already decently small sized budget, and it could take a while merely to establish funds dedicated to bitcoin that might be used to DCA, buy on dip and lump sum..

as well as further funds that may be needed to get cashflows in order (take care of some debt and to make sure to build an emergency fund, which should be basic investment themes that are even more important in the beginning stages than getting distracted by dumb ideas of diversification, as if getting distracted into shitcoins is going to be helpful to anyone, especially newbies... which surely many of them may well get distracted easily into shitcoins based on not really understanding the difference between bitcoin and shitcoins or even understanding with any kind of high level where bitcoin fits as in terms of its investment thesis.. which may not exactly be needed to know all of these things in the beginning even though it does not seems to help to be suggesting that there are needs to know about shitcoins more than just the mere basics of staying away from them, which means, not to diversify for the mere sake of diversifying (until maybe you have some kind of a reason to diversify).

[edited out]

When one means diversify...this doesn't really mean that it should be done on the same line of investment. For instance, if I am a bitcoin investor and I want to diversify, I am to diversify into stock, gold or bond and not in cryptocurrency anymore, this is because they are all following the price movement of bitcoin. If bitcoin dumps, those altcoins dumps and vice-versa. As long as you have investment in the superior of all cryptocurrency, which is bitcoin, there is no need you think of those altcoins because you will end up losing your funds if you want to hodli for long, and you will not have a rest of mind because they are centralized, and one day the dev can just shut down and move away with your funds. You wouldn't have anyone to blame but yourself. We have seen so many altcoins that have crashed in the past and I believe that these existing ones will still crash because they are have the same features. Investing in altcoins is gambling and I wouldn't advise anyone to spread his funds around different coins, but to stick with bitcoin alone because it is only bitcoin long term investment that is profitable and guaranteed. Especially this thread is encouraging newbies to start investing now, instead of them to learn everything on bitcoin first, which makes it unethical for newbies to think of investing in altcoins when we know that it is not a good start for anyone new in the cryptospace. Newbies and other investors should invest in bitcoin alone, and if you have acquired your target amount of bitcoin, you might invest in altcoins if you feel like to gamble with them. However, we are different and have our own various ways of investing that we think will work for us.

Surely.. similar to what I am trying to say.. but you (Sim_card) said it first in response to Blitzboy... but surely it is a repeating theme, including one that Blitzboy seems to continue to weave into his posts from time to time.

[Roseline492]

However, your insistence on the singularity of Bitcoin's dominance over altcoins is... interesting. Every purchase, every coin, has its own risks and prospects. Some altcoins may not have the same long-term image as Bitcoin, but it seems short-sighted to completely ignore them. A golden rule for investing is to spread your money around.

Actually in as much as what you said about diversifying most of our investment to other source is correct but I have to disagree with you if what you meant by diversifying is to consider investing on altcoins.

For me is totally not investment wise considering altcoins for investment, actually how can we even think of altcoins when Bitcoin that we are very sure of it potential and the benefits of holding it for years to come.

But however is totally depends on  individual on what they feel is right for them.

[Dr.Bitcoin_Strange]

Some altcoins may not have the same long-term image as Bitcoin, but it seems short-sighted to completely ignore them. A golden rule for investing is to spread your money around. This is especially true in the world of crypto, where putting all your coins, or eggs, in one box might not always be the smartest thing to do.

It is not really a golden rule to obey in cryptocurrencies. Generally, it is an important rule to consider while investing. Like some people who would invest in stocks, bunds, real estate, gold, lands, agriculture, and also set up big businesses for themselves. Some people choose to divide their money and invest in three different categories, while others choose two, five, or Vasatile. But while investing in cryptocurrency, if you split your money into 10 different coins, including Bitcoin, don't be surprised that only Bitcoin can give you the opportunity to make a profit. Luckily, you can make a little profit from one or two alt coins from the list of 10 coins, and the question is, where is the money invested in the other coins? I believe that's a loss investment for the other coins you never make profits on.

Splitting your money to invest in altcoins is like staking on different games; you are not sure which one you would make a win from; it's even possible that all could bust, and the money you invested becomes a waste.

[Makus]

A golden rule for investing is to spread your money around. This is especially true in the world of crypto, where putting all your coins, or eggs, in one box might not always be the smartest thing to do. Yes, experience is important, but so is the ability to change and adapt.

That is not true.  There is no need to fuck around with shitcoins.

There could be some newbies to investing that might well start out by only having one investment until they get up to a certain size in which they start to feel a need to diversify.. but diversifying does not necessarily meant to go into shitcoins.

What are the thresholds to diversification might be another question, yet frequently this idea of some kind of need to diversify both distracts people from one of the best investments available (if not the best) and also may well cause them to dilute an already decently small sized budget, and it could take a while merely to establish funds dedicated to bitcoin that might be used to DCA, buy on dip and lump sum..

The idea of diverting from Bitcoin to shitcoin has never been considered a good one, because the end product has always landed in regrets that leads to depression. Shitcoins are not worth the risk of diverting from Bitcoin holding or accumulaion, just as the name implies "shitcoin/altcoins" they are just imitations, and imitations like this, don't really have the guts to excel more than its original. Take for example, during when I created my bitcointalk account, assuming two person started investment that day, One on Bitcoin and the other on XRP. Reason I want to use XRP is because, around 17 of July ripple won a legal court case against the US SEC and that boosted thier trading volume even more than bitcoin at that time, but that didn't make their price even up to 3% of bitcoin price.

(price on the 11th of July) VS  (Current price)

                 

.                


Since then till now bitcoin has had more than 10% increase in its price which is equivalent to $3041 but despite the increase in XRP is still nothing compared to bitcoin.
The only exception for messing around with shitcoin is when you are been paid in any of then yet, you are still advised to make a quick exchange or swap ASAP, because their volatility and inflation for tokens are very annoying.

[rachael9385]

A golden rule for investing is to spread your money around. This is especially true in the world of crypto, where putting all your coins, or eggs, in one box might not always be the smartest thing to do. Yes, experience is important, but so is the ability to change and adapt.

That is not true.  There is no need to fuck around with shitcoins.

There could be some newbies to investing that might well start out by only having one investment until they get up to a certain size in which they start to feel a need to diversify.. but diversifying does not necessarily meant to go into shitcoins.

What are the thresholds to diversification might be another question, yet frequently this idea of some kind of need to diversify both distracts people from one of the best investments available (if not the best) and also may well cause them to dilute an already decently small sized budget, and it could take a while merely to establish funds dedicated to bitcoin that might be used to DCA, buy on dip and lump sum..

The idea of diverting from Bitcoin to shitcoin has never been considered a good one, because the end product has always landed in regrets that leads to depression. Shitcoins are not worth the risk of diverting from Bitcoin holding or accumulaion, just as the name implies "shitcoin/altcoins" they are just imitations, and imitations like this, don't really have the guts to excel more than its original. Take for example, during when I created my bitcointalk account, assuming two person started investment that day, One on Bitcoin and the other on XRP. Reason I want to use XRP is because, around 17 of July ripple won a legal court case against the US SEC and that boosted thier trading volume even more than bitcoin at that time, but that didn't make their price even up to 3% of bitcoin price.

(price on the 11th of July) VS  (Current price)

                 

.                


Since then till now bitcoin has had more than 10% increase in its price which is equivalent to $3041 but despite the increase in XRP is still nothing compared to bitcoin.
The only exception for messing around with shitcoin is when you are been paid in any of then yet, you are still advised to make a quick exchange or swap ASAP, because their volatility and inflation for tokens are very annoying.

You are apparently right. Well for me, even if Bitcoin is riskier than other investments, I still choose Bitcoin in place of altcoins or shitcoins, because Bitcoin has shown a lot of good potential in the past. Shitcoins/altcoins name alone had no meaning (I understand the word shitcoin as a currency with no value), but for an investor to divert from Bitcoin investment to an altcoins/shitcoin investment, that means the investor might be highly confused, or the investor is comparing Bitcoin to one of those wrecked coins like altcoins/shitcoins.
However, I checked your registration date on this forum, and it is true that the XRP coins were pumping as of that period you registered, but that still can not be compared to the Bitcoin bump because Bitcoin pumping moves in a skyrocketing way. Take a good look at the past 2 weeks (if I am not mistaking), bitcoin jumped from the price of $25k or $26k till the current price it is now, ($34,371.81).

[Crypto Library]

It's a good thing that you are so determined to invest in Bitcoin. Buying Bitcoin with the money left over after meeting our needs is one of the best investments for the future. Bitcoin is on its way and Bitcoin investors know it. What makes Bitcoin special also makes its investors special. I wish everyone who wants to learn about Bitcoin and be able to invest when the opportunity arises.
We can complement Bitcoin knowledge by investing in Bitcoin. Things go better when we turn our knowledge into action.

That's true. In the beginning my idea was to fill up with knowledge first and then go for investment. However, I thought practically and saw that if I have to fill up with knowledge about it before making an investment in Bitcoin, then I don't have to invest here, I just have to be behind the acquisition of knowledge. But I also agree that it would be foolish to invest without knowing some basic facts.
Practically speaking, if anything in the world is not embodied in reality and is confined only to books or texts, then it has no value in reality. So if you want to make bitcoin investment, you may face some mistakes initially, but I think there is a positive side to it and that is the opportunity to recognize the mistake you have made and gain some knowledge about it so that it does not happen again. So "Bitcoin kwoledge is not complete without bitcoin investment"

[Ruttoshi]

even if Bitcoin is riskier than other investments, I still choose Bitcoin.

Why are they saying that bitcoin is risky than other investment like gold, stock and bond, or real estate is simply because if the volatile nature of bitcoin, especially for people who are in a rush to sell their bitcoin. When you invest in a long term, you have overcome the risk in it. This is why you must invest in bitcoin to complete your knowledge on bitcoin by experiencing the risk attached to bitcoin investment and hodli. I can take 5yrs to learn bitcoin but still don't know the strategy on investing and grow my investment. Only practical can teach your how to go about your bitcoin journey and which accumulation strategy that will suit you base on your income.

But however is totally depends on  individual on what they feel is right for them.

Some newbies can't differentiate their right from their left in cryptocurrency, I.e they don't know which is the best and how to start with their investment, and it is these kind of people that will invest into the wrong coin or will listen to influencers and invest into altcoins, and that is why we need to tell them the difference of bitcoin and altcoins and also guide them to the right direction. When I just came into the forum, I never knew anything about cryptocurrency and I thought that they are all the same but the forum changed my thoughts abs clarify me about the difference. It is the same thing with diversify, I have seen so many forum member think that diversify into other assets means buying altcoins.

[JayJuanGee]

A golden rule for investing is to spread your money around. This is especially true in the world of crypto, where putting all your coins, or eggs, in one box might not always be the smartest thing to do. Yes, experience is important, but so is the ability to change and adapt.

That is not true.  There is no need to fuck around with shitcoins.

There could be some newbies to investing that might well start out by only having one investment until they get up to a certain size in which they start to feel a need to diversify.. but diversifying does not necessarily meant to go into shitcoins.

What are the thresholds to diversification might be another question, yet frequently this idea of some kind of need to diversify both distracts people from one of the best investments available (if not the best) and also may well cause them to dilute an already decently small sized budget, and it could take a while merely to establish funds dedicated to bitcoin that might be used to DCA, buy on dip and lump sum..

The idea of diverting from Bitcoin to shitcoin has never been considered a good one, because the end product has always landed in regrets that leads to depression. Shitcoins are not worth the risk of diverting from Bitcoin holding or accumulaion, just as the name implies "shitcoin/altcoins" they are just imitations, and imitations like this, don't really have the guts to excel more than its original. Take for example, during when I created my bitcointalk account, assuming two person started investment that day, One on Bitcoin and the other on XRP. Reason I want to use XRP is because, around 17 of July ripple won a legal court case against the US SEC and that boosted thier trading volume even more than bitcoin at that time, but that didn't make their price even up to 3% of bitcoin price.
(price on the 11th of July) VS  (Current price)
                 
.                
Since then till now bitcoin has had more than 10% increase in its price which is equivalent to $3041 but despite the increase in XRP is still nothing compared to bitcoin.
The only exception for messing around with shitcoin is when you are been paid in any of then yet, you are still advised to make a quick exchange or swap ASAP, because their volatility and inflation for tokens are very annoying.

You are apparently right. Well for me, even if Bitcoin is riskier than other investments, I still choose Bitcoin in place of altcoins or shitcoins, because Bitcoin has shown a lot of good potential in the past. Shitcoins/altcoins name alone had no meaning (I understand the word shitcoin as a currency with no value), but for an investor to divert from Bitcoin investment to an altcoins/shitcoin investment, that means the investor might be highly confused, or the investor is comparing Bitcoin to one of those wrecked coins like altcoins/shitcoins.
However, I checked your registration date on this forum, and it is true that the XRP coins were pumping as of that period you registered, but that still can not be compared to the Bitcoin bump because Bitcoin pumping moves in a skyrocketing way. Take a good look at the past 2 weeks (if I am not mistaking), bitcoin jumped from the price of $25k or $26k till the current price it is now, ($34,371.81).

Sure it is likely that long term price performance is going to tell us about where the fundamentals are in terms of bitcoin versus various shitcoins; however, we have to be careful in regards to getting too caught up upon short-to-medium-term price performance comparisons - since that is going to have a lot of potential for taking us down crazy paths, including believing that there is value in various kinds of crap like Ripple/XRP,  Ethereum and/or some other new-kid on-the-block crap, merely because they have existed a decently long time and a lot of crap has been built in and around them. and/or one piece of crap has potential to replace another piece of crap, whether the crap happens to claim to be an ethereum killer or a bitcoin killer or whatever, a lot of times there are subtle ways of selling their baloney.

Newbies may well not be able to easily recognize the fundamentals in the beginning regarding how bitcoin is differentiated, including the value of  bitcoin's proof of work system that is truly innovative, revolutionary and paradigm shifting, and the various shitcoins should not be getting mixed up with bitcoin, even though there may well be some of them that might even pump against bitcoin for 5-10 years or maybe even longer, and they may also exist in various states seeming success for decently long period of time before how shitty those projects are is actually reflected in the market and/or the market price..

So I become a bit confused regarding why many members merely want to make price performance analysis in order to try to figure out which coins and/or projects might have value relative to bitcoin.. Almost every shitty project has to be analyzed on its own in order to really point out the ways that it is not worth much if anything in light of bitcoin, but that lack of value does not take away from people pumping the bullshit and even being able to demonstrate long periods in which their crap out performed bitcoin. which likely there are going to be coins that outperform bitcoin at various periods in the future, but still likely does not justify getting involved in any of them.

[arabspaceship123]

You're right splitting your money to invest in altcoins isn't excessively different to making bets. If you're being realistic you don't expect all of your bets to win but you'll hope if one becomes a hit it'll return a profit by covering losses on the losing bets. It isn't a sensible approach if everything's at risk of going bust but it's a possibility it's going to happen if you're betting on bitcoin or spread on altcoins.

Splitting your money to invest in altcoins is like staking on different games; you are not sure which one you would make a win from; it's even possible that all could bust, and the money you invested becomes a waste.

[JoyMarsha]

even if Bitcoin is riskier than other investments, I still choose Bitcoin.

Even though bitcoin carries risk, many people who are familiar with its functions would prefer to own it over other riskier assets.

Every asset, in my opinion, carries some risk, but if you choose bitcoin, you could be able to profit handsomely in comparison to other assets, regardless of the risk. However, in order to succeed in bitcoin investment, you must refrain from doing any actions that could compromise your wallet