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Author Topic: Knowledge vs hodlings  (Read 2489 times)
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October 01, 2023, 10:36:06 PM
 #141

Knowledge is more important, IMO.  Since knowledge gives us certainty over things, it is the motivating factor that drives us to HODL certain investment.  Without knowledge we will never have the courage to hodl.  Yes we can invest even without sufficient knowledge about the asset, but we will be easily shaken by FUD and bad news which will end up being a weak hand and sells all our investment at once.  Without knowledge we can easily succumb to manipulation making us sell easily. 

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October 01, 2023, 11:38:47 PM
Merited by JayJuanGee (1)
 #142

I don't completely agree with what you are saying, because it seems that I am more of the get started as soon as possible camp.. and learn along the way. .even while at the same time, there are some basics that either need to be know or that should be knowable to most people - in spite of the tendencies that people have to gamble, rather than invest...
Learn as you ho certainly has its benefits as, you can take advantage of certain price offers but, it doesn’t permit you to make mistakes as they could prove costly. You can easily be a first victim to an experience but, that’s the risk in learning as you go.
Though, with proper mentorship and an extended curiosity, a lot could be averted before it occurs.

I have mixed ideas about your example of giving a knife to a 1 year old as a toy... . so I thought that kind of an example has quite a bit of potential... but then maybe it is a bit patronizing to be comparing newbie investors to infants of such inexperiences.. or that they are being given something.. so surely everyone has responsibility for their own actions, and surely the younger the kid, the less autonomy they have and the more they are completely dependent upon their parents..
Yeah, the knife to an infant analogy here don’t go as I feel they vary to a large extent. While an infant might make several mistakes before getting to learn a simple trick, the case is different for an adult when it comes to investing in a particular field and you could actually learn on the way except, your far better off learning first. Opportunities might be missed, you miss the chance of having to buy at certain prices where you met the coin and it was readily affordable but, that’s the price for the security you hope yo guarantee through learning.

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October 01, 2023, 11:55:20 PM
Last edit: October 02, 2023, 09:39:00 AM by Asuspawer09
 #143

I mean it would be easy just to get the knowledge first then if you then you already know Bitcoin and know what you're doing already then start investing and start holding your Bitcoin already, for sure you are going to make some mistakes, but you have this forum that could help you in some of your problems, personally, this forum is where I learn most of my knowledge in cryptocurrency space and pretty much all you need is already here.

In my experience, it wasn't really just the knowledge that you need in order to hold, what you need is multiple sources of income, because you can't really HODL if you just depend on one source of income,  meaning you're depending on the profit of cryptocurrency so if you needed that money badly your just gonna end up selling your cryptocurrency at a wrong price or wrong timing.

Both are still needed for sure, knowledge for sure is important and if your not going to use that knowledge and apply that on your holdings it would just be useless in the end so start your cryptocurrency journey if you think you already have the knowledge and apply it.

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October 02, 2023, 03:36:01 AM
 #144

In my experience , it wasn't really just the knowledge that you need in order to hold, what you need is multiple sources of income, because you cant really HODL if your just depending on one source of income,  meaning your depending on the profit of cryptocurrency so if you needed that money badly your just gonna end up selling your cryptocurrency at a wrong price or wrong timing.
Yes, diversifying your income is really helpful in managing your finances and preventing anxiety. I faced this issue a few years ago when I was struggling with a limited income, and as a result, I had to sell my cryptos holdings before they experienced significant price increases.
Knowledge is more important, IMO.  Since knowledge gives us certainty over things, it is the motivating factor that drives us to HODL certain investment.  Without knowledge we will never have the courage to hodl.  Yes we can invest even without sufficient knowledge about the asset, but we will be easily shaken by FUD and bad news which will end up being a weak hand and sells all our investment at once.  Without knowledge we can easily succumb to manipulation making us sell easily. 
I completely agree with your point. Without proper knowledge, it's challenging to understand the reasons for holding an asset and when to hold it strongly or sell it, especially when feelings of fear, uncertainty, and doubt (FUD) arise.

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October 02, 2023, 03:39:54 AM
 #145


In my experience , it wasn't really just the knowledge that you need in order to hold, what you need is multiple sources of income, because you cant really HODL if your just depending on one source of income,  meaning your depending on the profit of cryptocurrency so if you needed that money badly your just gonna end up selling your cryptocurrency at a wrong price or wrong timing.

In investing, capital is always the first thing people think of, it is the way to start an investment, but in my opinion knowledge is equally important, even more important. Because when you have in-depth knowledge about a certain field, you can also make money from it, you can accumulate capital from your knowledge. Whether you are a trader or a holder, knowledge is always essential and a top priority. Without knowledge, no matter how much money you have, you will lose everything because you do not understand the fluctuations of bitcoin and the appropriate time to buy and sell.

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October 02, 2023, 05:13:08 AM
 #146

In my experience , it wasn't really just the knowledge that you need in order to hold, what you need is multiple sources of income, because you cant really HODL if your just depending on one source of income,  meaning your depending on the profit of cryptocurrency so if you needed that money badly your just gonna end up selling your cryptocurrency at a wrong price or wrong timing.
I would also like to agree with you at this point. All of us always saying hold Bitcoin hold Bitcoin. Never disagree with that Bitcoin holding is a great opportunity making a good profit but it will also can take long time for taking the profits.
So I think there is a need for knowledge and that is the pre-planning of long term holding.  I always say if there are lazy funds then hold bitcoin for long term. And besides, if you have a stable income, you can deduct five percent or 10% from it and make a weekly or monthly investment in Bitcoin. Having said that, I think you should acquire some fundamental knowledge about Bitcoin and its security.

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October 02, 2023, 10:06:14 AM
 #147

I mean it would be easy just get the knowledge first then if you then you already know Bitcoin and know what you're doing already then starting investing and start holding your Bitcoin already, for sure you are going to make some mistakes, but you have this forum that could help you in some of your problems, personally, this forum is where I learn most of my knowledge in cryptocurrency space and pretty much all you need is already here.

In my experience , it wasn't really just the knowledge that you need in order to hold, what you need is multiple sources of income, because you cant really HODL if your just depending on one source of income,  meaning your depending on the profit of cryptocurrency so if you needed that money badly your just gonna end up selling your cryptocurrency at a wrong price or wrong timing.
Your notion about learning first is correct. Right, right, right! Learning about Bitcoin and the crypto ecosystem is crucial, and forums like these are great resources. Its amazing you learned so much here. Earning must be learned, right?

Learning is important, but it may be daunting. You can get lost and confused with all the resources, forums, articles, and viewpoints out there. The solution? Maybe ask more questions, engage with the community, and keep learning.

You also mentioned important things like multiple income sources. Many overlook it, but you nailed it. Clinging to one revenue source prevents HODLing. Its unstable and can drive you to make rash financial decisions rather than a well-planned investing strategy. Diversify revenue streams to improve your stake. Stability and security matter in the financial jungle.

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October 02, 2023, 10:15:31 AM
Merited by JayJuanGee (1)
 #148


In my experience , it wasn't really just the knowledge that you need in order to hold, what you need is multiple sources of income, because you cant really HODL if your just depending on one source of income,  meaning your depending on the profit of cryptocurrency so if you needed that money badly your just gonna end up selling your cryptocurrency at a wrong price or wrong timing.

In investing, capital is always the first thing people think of, it is the way to start an investment, but in my opinion knowledge is equally important, even more important. Because when you have in-depth knowledge about a certain field, you can also make money from it, you can accumulate capital from your knowledge. Whether you are a trader or a holder, knowledge is always essential and a top priority. Without knowledge, no matter how much money you have, you will lose everything because you do not understand the fluctuations of bitcoin and the appropriate time to buy and sell.
I think those who think too much about capital to be able to invest will never start investing. Starting to invest does require capital, but knowledge is what is really needed about the investment we are going to make. In my opinion, if we have a passive source of income, it will make it very easy for us to do this by taking the rest of our salary from what we need to be able to invest and most importantly, they have a good understanding of the profits they will receive and the risks of loss.
I really agree with you that with knowledge we can make money and we can invest with the money we make because no matter how much capital we have, it will run out without us understanding how to manage it well.

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October 02, 2023, 01:28:54 PM
Merited by Blitzboy (2)
 #149

[edited out]
I also support the idea of getting knowledge before the investment, like @makus already said earlier, about a child and a knife. That's a good instance. Let's think about the fact that new investors don't have any idea about Bitcoin but have the money for Bitcoin, and they bought BTC, and they don't have any strategy to accumulate or don't even have patience of hodl for long periods. What will be the benefits if they don't have Bitcoin knowledge??

I am going to attempt to give my perspective by quoting myself.

These principle individual factors that influence your decision whether to invest into bitcoin and how to invest into bitcoin have financial, skills and psychological components that include:

1)   your cashflow,

2)   how much bitcoin you have already accumulated,

3)   your other investments (including cash reserves),

4)   your view of bitcoin as compared with other investments,

5)   your timeline,

6)   your risk tolerance,

7)   your time, skills, goals (investment/lifestyle targets, which includes figuring out the extent that you are in BTC accumulation, maintenance or liquidation stage),
 
8 )   your abilities to strategize, plan, research and learn along the way including tweaking strategies from time to time,
 
9)   your considering your time, your abilities and whether to trade, reallocate from time to time, to use of leverage and/or to use financial instruments... (and for sure the use of financial instruments, leverage and margin trading involve higher level skills and are not even necessary to still become richie in bitcoin's already existing asymmetric bet.)


You see that your knowledge and view of bitcoin is ONLY one of the factors that you need to consider when investing into bitcoin, so there is nothing wrong with making sure that you have that part sufficiently covered, but it is still ONLY one of the parts that needs to be considered.. and out of the 9 parts listed above, you are not going to perfect them right away.  You need to put them into practice and you need to figure out some portions of them better than others, and you might never get all of them perfect because they are likely to be moving targets that need to be adjusted at various points in time, instead of locked into a static plan that might not be as individually tailored if the plan does not get tweaked from time to time and in order to move with the times.

Sure, some aspects are going to be more solid than other aspects, and some aspects are not going to change very much, so when tweaks are made they might end up ONLY being necessary because of one or two of the 9 considerations rather than needing to overall the whole thing, while at the same time, one or two changes in any of the factors could have real large ramifications on the whole BTC investment plan including whether to get into bitcoin, how to get into bitcoin or even the need to get out (and/or how to get out).  And again, knowledge about bitcoin is ONLY one of the factors, and I am continuing to assert that it can be quite problematic to try to get to a perfect status regarding any of the parts, and there is likely to be sufficient levels of due diligence that permits getting started sooner rather than later and then adjusting along the way.

Although investing in Bitcoin is important, having knowledge of Bitcoin is also important too. So I will agree that knowledge is the most important thing about everything.... If we don't have the knowledge of Bitcoin and also have no strategy, then we are at a loss in our investment.

We may be saying similar things, but just in different ways and with differing emphasis.  I am not against the idea of getting some basic knowledge and/or developing some kind of an investment thesis and plan... but action is also quite important for the process of learning and the process of lessening the likelihood of too much procrastination that leads to higher and higher levels of paralysis.. and frequently it is better to get started sooner rather than layer, especially once you have some basic understandings.. and then if you are questioning some of your basic understandings, you are not likely going to end up being overly damaged by starting out small.. with something like $10 per week and maybe you are spending several weeks or even months learning some of the basics (depending on how much time you are able to spend at any time.. maybe some people are able to dedicate 8 hours a day for studying bitcoin, and others might ONLY be able to spend 2-4 hours per week for several months, and then maybe at some later point, they might have more time to look into bitcoin,

...and in the mean time, the newbie normie may well likely be better off starting investing into bitcoin with a small amount rather than putting it off... especially if they already reached a determination that it would likely be good to put 1% to 25% of their liquid investment portfolio into bitcoin, and if they already have an investment portfolio of $50k and if they are putting $10 per week into bitcoin, then it would take them a whole year of investing at that rate to even get to 1% of their investment portfolio in bitcoin.. that is if they were not continuing to invest in the other assets of their investment portfolio at the same time.. not even the investment portfolio is static when we make these kinds of allocation and accumulation decisions.

From kids to adults, as a new investor, we should learn gradually as learning is a gradual process and not get all the knowledge of Bitcoin in just one. There might be a loss in our investment, so we can learn from it.

You seem to be reading too much into my statement that suggests to get the fuck started right away and without delay.  From my perspective, I am not even saying that any newbie goes balls to the walls in his/her BTC investment approach, but I am still saying get started without delay, and if you might not know too much about bitcoin and you may well know that you are easily able to invest $100 per week, if you start with $10 per week while you are studying into bitcoin, it is likely way better than procrastinating 1-2 or even 6 months or longer because you are trying to learn things that likely are not even that central to your already base level of knowledge and your having had already determined that it would be a good thing to get some bitcoin.  Perhaps I am presuming already existing knowledge when there is already some level of conviction that it would be a good idea to get some bitcoin, so then get started right away with a small part as you continue to research further into it.

Are we each just repeating ourselves over and over?  I say get the fuck started as soon as you have basic level of knowledge and an idea that you want to invest, which may well not take more than a few hours to figure out... depending on your already existing knowledge (presuming adulthood and some basic level of experience to balance your accounting of your cashflow and your expenses), and you are perhaps presuming no knowledge, like a 1 year old... so our presumptions perhaps are different.. I understand that even an adult that only has basic understandings of their incoming cash versus their expenses will still likely need to learn how to invest, but I am not hesitating to suggest that they get the fuck started right away with bitcoin, and figure out the details as they go... and in regards to position size, and you are seeming to suggest that they need to spend time studying prior to getting started. Maybe we are not going to agree, and good luck with the procrastination that you are going to get by imposing those kinds of knowledge requirements prior to getting started with BTC investing.. which seems to be what an overwhelming of forum members are suggesting, but not this here cat.

I don't completely agree with what you are saying, because it seems that I am more of the get started as soon as possible camp.. and learn along the way. .even while at the same time, there are some basics that either need to be know or that should be knowable to most people - in spite of the tendencies that people have to gamble, rather than invest...
Learn as you ho certainly has its benefits as, you can take advantage of certain price offers but, it doesn’t permit you to make mistakes as they could prove costly. You can easily be a first victim to an experience but, that’s the risk in learning as you go.
Though, with proper mentorship and an extended curiosity, a lot could be averted before it occurs.

Position size also helps to address these matters.  A person who is learning as they go and invests $10 per week will end up investing $520 over a whole year, and so fucking what if they end up losing all of it while they are learning.  And if $520 over a whole year is too much, then start with $10 per month, and then you end up losing $120 over a year.. but at least if you are investing you are getting started and more incentivized to learn and even maybe in less than a year you are going to be able to adjust your situation in order to lessen the likelihood for mistakes.  Almost everyone makes mistakes in all kinds of areas of our lives. Yeah, we do not purposefully go in and try to make mistakes.  Instead we go in and we try to do everything the best that we can under our then knowledge status and we learn along the way... so I stick to my guns.. don't get bogged down by presuming that a vast majority of normies do not know how to balance their cashflow.. which is likely the ONLY prerequisite that I am expecting...

because I am also presuming that the newbie normie has reached a tentative conclusion that it would be a good thing to both learn about bitcoin and invest into it, and therefore my suggestion remains.. get the fuck started and don't be procrastinating and/or presuming that you don't know enough if you already know your general cashflow..  how much cash you have coming in and how many expenses you have and how much you have left and you can determine how much of that extra to put into bitcoin while you are learning.. .. so if you have $100 per week that is left, then maybe you start out with $10 per week into bitcoin... that's a good start. especially while learning, and then if you learn and learn and learn, then maybe over the course of a year or two, then you might slowly increase the $10 per week to become closer to the $100 per week.. using that disposable income level as a constant, even though over a year or two, you still might be making adjustments that also cause your disposable income levels to go up.. and for you to perhaps develop greater conviction towards bitcoin over that first year or two while learning.

I have mixed ideas about your example of giving a knife to a 1 year old as a toy... . so I thought that kind of an example has quite a bit of potential... but then maybe it is a bit patronizing to be comparing newbie investors to infants of such inexperiences.. or that they are being given something.. so surely everyone has responsibility for their own actions, and surely the younger the kid, the less autonomy they have and the more they are completely dependent upon their parents..
Yeah, the knife to an infant analogy here don’t go as I feel they vary to a large extent. While an infant might make several mistakes before getting to learn a simple trick, the case is different for an adult when it comes to investing in a particular field and you could actually learn on the way except, your far better off learning first.

Nearly all of the forum members are gravitating back to this same point that you are better off learning first... which seems quite strange to me.. I am sticking to my guns. .You are better off getting started as soon as possible, learn along the way and take a small enough position size that it does not matter if you lose it, but at the same time, you are neither trying to lose it and you do have to likely spend a bit of time in your preparations to figure out how much you are going to start out with and how you are going to gain exposure and then you can also tweak those matters along the way.. .where you buy your BTC, where you hold your BTC, and then later down the road, learning the aspects of self-custody, but the need for self custody is not necessarily a prerequisite to getting started in bitcoin, and maybe you spend a year or so investing a small amount, but then after you reach a certain level of holdings then you transfer that to self-custody.. but if you ended up screwing up because you got involved in some kind of an investment vehicle that does not allow you to take self custody, then you have to deal with that matter, but the mere fact that you made those kinds of mistakes does not take away from the value of getting the fuck started rather the waiting around until you have some kind of level of knowledge that involves what it takes many forum members years to figure out (depending on how much time that members had been spending to learn about bitcoin.. we still have forum members who have been on the forum for many years and  still seem to not know shit about bitcoin.,. and it could be part of the problem is that they spent a lot of time learning rather than acting.. and one of the better ways to learn is through acting.. or a combination of acting rather than telling yourself that you can wait.. blah blah blah.).

Opportunities might be missed, you miss the chance of having to buy at certain prices where you met the coin and it was readily affordable but, that’s the price for the security you hope yo guarantee through learning.

You are not going to avoid all of the mistakes merely because you wait.. and so instead of investing right away like I suggested, instead you wait for several weeks or several months or a year or two while you study and look into the matter, and all that shit you are supposedly learning is not really sinking in very well because you are not actively investing.. so then when the learned person actually starts to invest into BTC, then such learned person is still likely going to have to go through some learning that comes from actually putting all that learning into the practice of starting to buy bitcoin and I am not even sure if the prior learning is going to prevent (or lessen) the likelihood for various mistakes.. security or otherwise.... so yeah, go ahead and wait and get it all figured out prior to getting started, that's your choice.

1) Self-Custody is a right.  There is no such thing as "non-custodial" or "un-hosted."  2) ESG, KYC & AML are attack-vectors on Bitcoin to be avoided or minimized.  3) How much alt (shit)coin diversification is necessary? if you are into Bitcoin, then 0%......if you cannot control your gambling, then perhaps limit your alt(shit)coin exposure to less than 10% of your bitcoin size...Put BTC here: bc1q49wt0ddnj07wzzp6z7affw9ven7fztyhevqu9k
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October 02, 2023, 03:46:35 PM
 #150


In my experience , it wasn't really just the knowledge that you need in order to hold, what you need is multiple sources of income, because you cant really HODL if your just depending on one source of income,  meaning your depending on the profit of cryptocurrency so if you needed that money badly your just gonna end up selling your cryptocurrency at a wrong price or wrong timing.

In investing, capital is always the first thing people think of, it is the way to start an investment, but in my opinion knowledge is equally important, even more important. Because when you have in-depth knowledge about a certain field, you can also make money from it, you can accumulate capital from your knowledge. Whether you are a trader or a holder, knowledge is always essential and a top priority. Without knowledge, no matter how much money you have, you will lose everything because you do not understand the fluctuations of bitcoin and the appropriate time to buy and sell.
I think those who think too much about capital to be able to invest will never start investing. Starting to invest does require capital, but knowledge is what is really needed about the investment we are going to make. In my opinion, if we have a passive source of income, it will make it very easy for us to do this by taking the rest of our salary from what we need to be able to invest and most importantly, they have a good understanding of the profits they will receive and the risks of loss.
I really agree with you that with knowledge we can make money and we can invest with the money we make because no matter how much capital we have, it will run out without us understanding how to manage it well.
Yes, agree with your thought that investing does not require much capital. If an investor acquires his investment knowledge and starts investing by making small amount of money especially by following DCA then he can gradually increase his investment and he can solve the financial problem as well. But if he does not have knowledge, it is worthless even if he owns a lot of wealth because we often say that if a man is not educated then he is blind even though he has eyes. In the same way it can be said that without investment knowledge he will not be able to see what is offered to him no matter how good it is. So capital is not always the important thing in investment.

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October 02, 2023, 08:08:02 PM
 #151

Nearly all of the forum members are gravitating back to this same point that you are better off learning first... which seems quite strange to me.. I am sticking to my guns. .You are better off getting started as soon as possible, learn along the way and take a small enough position size that it does not matter if you lose it, but at the same time, you are neither trying to lose it and you do have to likely spend a bit of time in your preparations to figure out how much you are going to start out with and how you are going to gain exposure and then you can also tweak those matters along the way.. .where you buy your BTC, where you hold your BTC, and then later down the road, learning the aspects of self-custody, but the need for self custody is not necessarily a prerequisite to getting started in bitcoin, and maybe you spend a year or so investing a small amount, but then after you reach a certain level of holdings then you transfer that to self-custody.. but if you ended up screwing up because you got involved in some kind of an investment vehicle that does not allow you to take self custody, then you have to deal with that matter, but the mere fact that you made those kinds of mistakes does not take away from the value of getting the fuck started rather the waiting around until you have some kind of level of knowledge that involves what it takes many forum members years to figure out
  Grin, you said something, and it is quite funny though, you said Nearly all of the forum members are gravitating back to this same point that you are better off learning first... which seems quite strange to me.. I am sticking my guns... , yes you can still stick to your guns. But you know we can't all do the same thing, like, some might learn before they start investing and some might like to invest while they are learning and others can invest without even learning if they see someone who is already making profits, so it is all depending on the characters of the investors and not the investments or even the knowledge.

Your points are clear, and I also support that investing along the line you are learning is a good start, and it shows that the person is so serious about what he wants, and he doesn't care if he loses it or not. I do understand that the little capital at that time was just like materials for practical practice, so without practice the knowledge is meaningless.

Quote
(Depending on how much time that members had been spending to learn about bitcoin.. we still have forum members who have been on the forum for many years and  still seem to not know shit about bitcoin.,. and it could be part of the problem is that they spent a lot of time learning rather than acting.. and one of the better ways to learn is through acting.. or a combination of acting rather than telling yourself that you can wait.. blah blah blah.).
Yes, it's true, there are a lot of them, it is not that I want to support them, but sometimes it seems that most of them are too occupied with activities either on the forum or outside the forum, talking about the ones from the forum. I think most of them are in the bounty sections doing other stuff instead of learning Bitcoin.
Spending a lot of time learning about Bitcoin is the fastest way to learn about Bitcoin.

R


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October 03, 2023, 04:38:26 AM
 #152


In my experience , it wasn't really just the knowledge that you need in order to hold, what you need is multiple sources of income, because you cant really HODL if your just depending on one source of income,  meaning your depending on the profit of cryptocurrency so if you needed that money badly your just gonna end up selling your cryptocurrency at a wrong price or wrong timing.

In investing, capital is always the first thing people think of, it is the way to start an investment, but in my opinion knowledge is equally important, even more important. Because when you have in-depth knowledge about a certain field, you can also make money from it, you can accumulate capital from your knowledge. Whether you are a trader or a holder, knowledge is always essential and a top priority. Without knowledge, no matter how much money you have, you will lose everything because you do not understand the fluctuations of bitcoin and the appropriate time to buy and sell.
I think those who think too much about capital to be able to invest will never start investing. Starting to invest does require capital, but knowledge is what is really needed about the investment we are going to make. In my opinion, if we have a passive source of income, it will make it very easy for us to do this by taking the rest of our salary from what we need to be able to invest and most importantly, they have a good understanding of the profits they will receive and the risks of loss.
I really agree with you that with knowledge we can make money and we can invest with the money we make because no matter how much capital we have, it will run out without us understanding how to manage it well.
Yes, agree with your thought that investing does not require much capital. If an investor acquires his investment knowledge and starts investing by making small amount of money especially by following DCA then he can gradually increase his investment and he can solve the financial problem as well. But if he does not have knowledge, it is worthless even if he owns a lot of wealth because we often say that if a man is not educated then he is blind even though he has eyes. In the same way it can be said that without investment knowledge he will not be able to see what is offered to him no matter how good it is. So capital is not always the important thing in investment.

Both are equally important and necessary. If you only have knowledge and don't have much capital, you need to make a lot of effort to accumulate capital and increase investment. While those with both large capital and knowledge will have an easier time on their investment path. But you're right, if we only have capital but no knowledge, it will only lead to failure. So in my opinion, capital and knowledge are things we need to prepare carefully before deciding to invest in bitcoin.

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Popkon6
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October 03, 2023, 09:45:24 AM
 #153


In my experience , it wasn't really just the knowledge that you need in order to hold, what you need is multiple sources of income, because you cant really HODL if your just depending on one source of income,  meaning your depending on the profit of cryptocurrency so if you needed that money badly your just gonna end up selling your cryptocurrency at a wrong price or wrong timing.

In investing, capital is always the first thing people think of, it is the way to start an investment, but in my opinion knowledge is equally important, even more important. Because when you have in-depth knowledge about a certain field, you can also make money from it, you can accumulate capital from your knowledge. Whether you are a trader or a holder, knowledge is always essential and a top priority. Without knowledge, no matter how much money you have, you will lose everything because you do not understand the fluctuations of bitcoin and the appropriate time to buy and sell.
I think those who think too much about capital to be able to invest will never start investing. Starting to invest does require capital, but knowledge is what is really needed about the investment we are going to make. In my opinion, if we have a passive source of income, it will make it very easy for us to do this by taking the rest of our salary from what we need to be able to invest and most importantly, they have a good understanding of the profits they will receive and the risks of loss.
I really agree with you that with knowledge we can make money and we can invest with the money we make because no matter how much capital we have, it will run out without us understanding how to manage it well.
Yes, agree with your thought that investing does not require much capital. If an investor acquires his investment knowledge and starts investing by making small amount of money especially by following DCA then he can gradually increase his investment and he can solve the financial problem as well. But if he does not have knowledge, it is worthless even if he owns a lot of wealth because we often say that if a man is not educated then he is blind even though he has eyes. In the same way it can be said that without investment knowledge he will not be able to see what is offered to him no matter how good it is. So capital is not always the important thing in investment.

Both are equally important and necessary. If you only have knowledge and don't have much capital, you need to make a lot of effort to accumulate capital and increase investment. While those with both large capital and knowledge will have an easier time on their investment path. But you're right, if we only have capital but no knowledge, it will only lead to failure. So in my opinion, capital and knowledge are things we need to prepare carefully before deciding to invest in bitcoin.

Knowledge and money alone do not qualify people, there must be willingness to invest here. Because investing requires the ability to accept risk. But I think it is easy for a person to earn money if he has the knowledge and if he has the money he must have the will to invest and the money can be managed with Bitcoin the risk will be less. Because investing in Bitcoin requires knowledge, money, and the will power to invest, the ability to take risks is what an ideal investor is all about.

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rachael9385
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October 03, 2023, 11:56:56 AM
Merited by JayJuanGee (1)
 #154

Yes, agree with your thought that investing does not require much capital. If an investor acquires his investment knowledge and starts investing by making small amount of money especially by following DCA then he can gradually increase his investment and he can solve the financial problem as well. But if he does not have knowledge, it is worthless even if he owns a lot of wealth because we often say that if a man is not educated then he is blind even though he has eyes. In the same way it can be said that without investment knowledge he will not be able to see what is offered to him no matter how good it is. So capital is not always the important thing in investment.

Both are equally important and necessary. If you only have knowledge and don't have much capital, you need to make a lot of effort to accumulate capital and increase investment. While those with both large capital and knowledge will have an easier time on their investment path. But you're right, if we only have capital but no knowledge, it will only lead to failure. So in my opinion, capital and knowledge are things we need to prepare carefully before deciding to invest in bitcoin.
Yes, both of them are important, but that doesn't mean if you don't have much capital you shouldn't start your investment plans, like @JJG has been saying all this while, that you don't need much capital to start investing in Bitcoin, you can use at least $10 to start investing Bitcoin, but if you think that a $10 is too big to get before starting then try $5.

Once you have your first BTC with low capital, anytime you have another small amount of money you can still accumulate, even little by little, you will see that you have accumulated more than the amount you are planning to get without even you noticing it.
As a new investor, they should avoid procrastination because procrastinating can easily cause a person not to even invest in Bitcoin, so they should avoid it.

R


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October 03, 2023, 12:42:49 PM
Merited by JayJuanGee (1)
 #155

Yes, agree with your thought that investing does not require much capital. If an investor acquires his investment knowledge and starts investing by making small amount of money especially by following DCA then he can gradually increase his investment and he can solve the financial problem as well. But if he does not have knowledge, it is worthless even if he owns a lot of wealth because we often say that if a man is not educated then he is blind even though he has eyes. In the same way it can be said that without investment knowledge he will not be able to see what is offered to him no matter how good it is. So capital is not always the important thing in investment.

Both are equally important and necessary. If you only have knowledge and don't have much capital, you need to make a lot of effort to accumulate capital and increase investment. While those with both large capital and knowledge will have an easier time on their investment path. But you're right, if we only have capital but no knowledge, it will only lead to failure. So in my opinion, capital and knowledge are things we need to prepare carefully before deciding to invest in bitcoin.
Yes, both of them are important, but that doesn't mean if you don't have much capital you shouldn't start your investment plans, like @JJG has been saying all this while, that you don't need much capital to start investing in Bitcoin, you can use at least $10 to start investing Bitcoin, but if you think that a $10 is too big to get before starting then try $5.

Once you have your first BTC with low capital, anytime you have another small amount of money you can still accumulate, even little by little, you will see that you have accumulated more than the amount you are planning to get without even you noticing it.
As a new investor, they should avoid procrastination because procrastinating can easily cause a person not to even invest in Bitcoin, so they should avoid it.


Exactly, and that's what differentiates bitcoin from all other assets or investments. We can start with minimal capital to invest in bitcoin, unlike investments that require fixed amounts or require large capital like real estate and that is a barrier huge for many people. Bitcoin is special and most friendly to everyone because people can invest with any amount of capital or can accumulate over time. Although it is not much related to this topic, I would like to add that, bitcoin is for everyone.
Negotiation
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October 03, 2023, 12:56:31 PM
 #156


In my experience , it wasn't really just the knowledge that you need in order to hold, what you need is multiple sources of income, because you cant really HODL if your just depending on one source of income,  meaning your depending on the profit of cryptocurrency so if you needed that money badly your just gonna end up selling your cryptocurrency at a wrong price or wrong timing.

In investing, capital is always the first thing people think of, it is the way to start an investment, but in my opinion knowledge is equally important, even more important. Because when you have in-depth knowledge about a certain field, you can also make money from it, you can accumulate capital from your knowledge. Whether you are a trader or a holder, knowledge is always essential and a top priority. Without knowledge, no matter how much money you have, you will lose everything because you do not understand the fluctuations of bitcoin and the appropriate time to buy and sell.

Yes not only for investing in bitcoin but knowledge is needed in every job gaining knowledge is very helpful in managing and growing our personal and professional life it makes us efficient and thereby effective. A wise person is always respected in society a well-read or knowledgeable person is considered an expert offering valuable suggestions or advice. Also with enough knowledge bitcoin investment will become easy to provide guidance to meet all the inevitable needs of people.

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October 03, 2023, 02:08:11 PM
 #157

Knowledge is more important, IMO.  Since knowledge gives us certainty over things, it is the motivating factor that drives us to HODL certain investment.  Without knowledge we will never have the courage to hodl.  Yes we can invest even without sufficient knowledge about the asset, but we will be easily shaken by FUD and bad news which will end up being a weak hand and sells all our investment at once.  Without knowledge we can easily succumb to manipulation making us sell easily. 

That's why it is always recommended to do your own research before investing because lots of those blind followers are just relying on YouTube influencers which they regret because the promotions were just cherry-picking and they didn't tackle the bad side of the project. When they realized that they were fooled, it was already too late because the price of the altcoins was already below their capitals and others were made to believe that the price would pump up again which was not really the case and they ended up losing all their capitals because they actually believed other lies.

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rachael9385
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October 03, 2023, 02:36:58 PM
 #158

Yes, agree with your thought that investing does not require much capital. If an investor acquires his investment knowledge and starts investing by making small amount of money especially by following DCA then he can gradually increase his investment and he can solve the financial problem as well. But if he does not have knowledge, it is worthless even if he owns a lot of wealth because we often say that if a man is not educated then he is blind even though he has eyes. In the same way it can be said that without investment knowledge he will not be able to see what is offered to him no matter how good it is. So capital is not always the important thing in investment.

Both are equally important and necessary. If you only have knowledge and don't have much capital, you need to make a lot of effort to accumulate capital and increase investment. While those with both large capital and knowledge will have an easier time on their investment path. But you're right, if we only have capital but no knowledge, it will only lead to failure. So in my opinion, capital and knowledge are things we need to prepare carefully before deciding to invest in bitcoin.
Yes, both of them are important, but that doesn't mean if you don't have much capital you shouldn't start your investment plans, like @JJG has been saying all this while, that you don't need much capital to start investing in Bitcoin, you can use at least $10 to start investing Bitcoin, but if you think that a $10 is too big to get before starting then try $5.

Once you have your first BTC with low capital, anytime you have another small amount of money you can still accumulate, even little by little, you will see that you have accumulated more than the amount you are planning to get without even you noticing it.
As a new investor, they should avoid procrastination because procrastinating can easily cause a person not to even invest in Bitcoin, so they should avoid it.
Although it is not much related to this topic, I would like to add that, bitcoin is for everyone.
Moreover, you might be right, but let's talk about those specific people that don't accept Bitcoin in their lives or to be part of their life. You know if someone doesn't like something, it is hard to persuade them about what they don't like, but on the other hand, their mind might change to accept Bitcoin, but it can be hard though, so the most interesting thing is that everyone must not invest in Bitcoin no matter how it is legit.

The reason why I said what I said is because, some might give excuses that they dont have money to invest in Bitcoin, some can still say there expenses are too much that they can't add another (investing) to it. those who believe that Bitcoin can be profitable if they hodl for a long period will invest without looking at there expenses, they will just reduce it and invest in Bitcoin, if you look closely, you will see that most of the investors today, are the risk takers and you know that everybody is not a risk taker.... So, Bitcoin is for specific people. I once thought that Bitcoin was for everyone, but I later found out it is not.

R


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LLBITCRYPTO
FUTURES
[
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][
.
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][
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CryptoHeadlineNews
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October 03, 2023, 03:45:26 PM
 #159

Knowledge is more important, IMO.  Since knowledge gives us certainty over things, it is the motivating factor that drives us to HODL certain investment.  Without knowledge we will never have the courage to hodl.  Yes we can invest even without sufficient knowledge about the asset, but we will be easily shaken by FUD and bad news which will end up being a weak hand and sells all our investment at once.  Without knowledge we can easily succumb to manipulation making us sell easily. 

That's why it is always recommended to do your own research before investing because lots of those blind followers are just relying on YouTube influencers which they regret because the promotions were just cherry-picking and they didn't tackle the bad side of the project. When they realized that they were fooled, it was already too late because the price of the altcoins was already below their capitals and others were made to believe that the price would pump up again which was not really the case and they ended up losing all their capitals because they actually believed other lies.
And it is that same process of Doing Your Own Research (DYOR) that we call "Knowledge" my friend, just as O.P and most people elaborated on this thread, because though its true that anybody can invest in Bitcoin, but one thing certain is that the person with the right knowledge stand a better chance to make better decisions regarding his Bitcoin investment than someone who is totally ignorant. Because for example, imagine few months ago when the mempool was high (i.e resulting to a high BTC transaction fee), whereby in other to transfer $100 worth of BTC, we were told the fee was $50 (i.e half of the amount), and as such, there is a high tendency for person with no knowledge to have executed such transaction, whereas those who understand how it works skip or keep hodling until the transaction fee reduces.

Secondly, Youtubers are the least people to believe anything they say, as most people are there for the views to generate much funds, whereas, it only take a few who cares about their subscribers.

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October 03, 2023, 04:22:42 PM
Merited by JayJuanGee (1)
 #160

Yes, agree with your thought that investing does not require much capital. If an investor acquires his investment knowledge and starts investing by making small amount of money especially by following DCA then he can gradually increase his investment and he can solve the financial problem as well. But if he does not have knowledge, it is worthless even if he owns a lot of wealth because we often say that if a man is not educated then he is blind even though he has eyes. In the same way it can be said that without investment knowledge he will not be able to see what is offered to him no matter how good it is. So capital is not always the important thing in investment.

Both are equally important and necessary. If you only have knowledge and don't have much capital, you need to make a lot of effort to accumulate capital and increase investment. While those with both large capital and knowledge will have an easier time on their investment path. But you're right, if we only have capital but no knowledge, it will only lead to failure. So in my opinion, capital and knowledge are things we need to prepare carefully before deciding to invest in bitcoin.
Yes, both of them are important, but that doesn't mean if you don't have much capital you shouldn't start your investment plans, like @JJG has been saying all this while, that you don't need much capital to start investing in Bitcoin, you can use at least $10 to start investing Bitcoin, but if you think that a $10 is too big to get before starting then try $5.

Once you have your first BTC with low capital, anytime you have another small amount of money you can still accumulate, even little by little, you will see that you have accumulated more than the amount you are planning to get without even you noticing it.
As a new investor, they should avoid procrastination because procrastinating can easily cause a person not to even invest in Bitcoin, so they should avoid it.
Although it is not much related to this topic, I would like to add that, bitcoin is for everyone.
Moreover, you might be right, but let's talk about those specific people that don't accept Bitcoin in their lives or to be part of their life. You know if someone doesn't like something, it is hard to persuade them about what they don't like, but on the other hand, their mind might change to accept Bitcoin, but it can be hard though, so the most interesting thing is that everyone must not invest in Bitcoin no matter how it is legit.

The reason why I said what I said is because, some might give excuses that they dont have money to invest in Bitcoin, some can still say there expenses are too much that they can't add another (investing) to it. those who believe that Bitcoin can be profitable if they hodl for a long period will invest without looking at there expenses, they will just reduce it and invest in Bitcoin, if you look closely, you will see that most of the investors today, are the risk takers and you know that everybody is not a risk taker.... So, Bitcoin is for specific people. I once thought that Bitcoin was for everyone, but I later found out it is not.
Why do you need to persuade others to change their mind? You are not a prophet and everybody needs to accept your ideology. I saw on the internet that some villagers in India were destroying a solar panel project because their priest told them the technology was evil. It's shocking to see such narrow mindness in this era where most of the mystery can be explained through science. Some people will never change their stance due to their adamant beliefs.









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