Lessons of my experience and knowledge about Bitcoin

[Natalim]

_ Don't Force Bitcoin on others, but be a resource to those who seek knowledge

This is the thing...we don't need to look for someone and even a friend or relative and encourage them to invest but rather wait for them to ask us and be their guide. It is a big mistake to give them a promise to earn money because there is no assurance of it. Giving them the idea will be enough for them to decide if they are going to invest or not, it depends on their risk appetite and their mindset. What we did was just spread the information and educate people about crypto but not for the seek of making them invest, that was an option.

[D ltr]

Many people say that cryptocurrency has high risks. I think that applies to altcoins. If I look at bitcoin, I think it is quite safe because bitcoin always has value and is the best among others.

It seems like you are quite familiar with bitcoin and that is an expression of experience with bitcoin. I agree with you and bitcoin will always be the best now and forever

It's true that altcoins have a big risk, if you don't have experience, you will lose more than you will gain, especially if you trade altcoins following the ongoing hype and fomo, you will automatically be poor.

[gunhell16]

The things you mentioned, dude, there are many things to experience here that you didn't mention there. I'm not even sure if everything you said is something you've been through, as long as everything you face here in the Bitcoin or crypto space is a way for you to become deep in the industry you're in. Let's just keep the continuing education in this business industry to ourselves.

And if we have any ideas or knowledge, let's share it with others who show initiative to know what we are doing here in the crypto space. It doesn't seem right that we shouldn't guide people or newbies who come in here about other cryptocurrencies and should be Bitcoin only. There are some loopholes in this you also mentioned, dude, anyway, in my opinion.

[komisariatku]

Many people say that cryptocurrency has high risks. I think that applies to altcoins. If I look at bitcoin, I think it is quite safe because bitcoin always has value and is the best among others.

It seems like you are quite familiar with bitcoin and that is an expression of experience with bitcoin. I agree with you and bitcoin will always be the best now and forever

Bitcoin is the king and will always be. Those altcoins are just decorations in the crypto market and those who may find them attractive will surely take higher risk from winning their investment. But with bitcoin, you get the assurance to end up with profits as long as you stick to it and maximize long term hodling, which is hard yo achieved with altcoins since they’re nothing but a pump and dump scheme. Although there are established altcoins in the market, but let’s accept the fact that they can never be profitable and secured like bitcoin.

Yes that's correct. Bitcoin always has a good price from time to time. History proves that the price of bitcoin has always touched ATH in recent years. Holding bitcoin will make us have a good future, I am very optimistic about that

When talking about profits, altcoins also have the possibility of crazier profits, but the risks are very large, especially if trading altcoins that are still new. Altcoins can make someone a millionaire or bankrupt overnight. I no longer dare to play with altcoins, the risks are not logical for investment

[jeraldskie11]

Yes that's correct. Bitcoin always has a good price from time to time. History proves that the price of bitcoin has always touched ATH in recent years. Holding bitcoin will make us have a good future, I am very optimistic about that

Bitcoin is the father of all the cryptocurrency out there that's why alts are just depending on price of Bitcoin. If there is a sudden dump in alts Bitcoin will stay on its price but when Bitcoin price drops, eventually the alts will follow the price direction of Bitcoin no matter how strong the alts especially when Bitcoin's price continue to go down.

When talking about profits, altcoins also have the possibility of crazier profits, but the risks are very large, especially if trading altcoins that are still new. Altcoins can make someone a millionaire or bankrupt overnight. I no longer dare to play with altcoins, the risks are not logical for investment

Agree with you in some point. But honestly there good altcoins out there that is good to invest. Just don't invest in a new listed coin or coin that is not established yet because the risk is so high. I recommend to invest in xrp, eth, and solana or those alts that is next to Bitcoin but don't jump immediately into invest, look at the chart first before you do.

[TribalBob]

_ Avoid trading altcoin: you are not a genius trader, you will eventually get burned.

Avoiding altcoin trading is actually unavoidable in reality, more or less we will definitely follow the flow of transactions in altcoins, it's just that we have to be able to control it and not be greedy in taking advantage

[Kelvinid]

_ share Bitcoin cautiously, people might think you want to scam them.

_ Don't Force Bitcoin on others, but be a resource to those who seek knowledge

Just surprise them and they become interested in them, and then they'll be asking what you did. Because at the time we discuss it with them about Bitcoin, the more they hate to hear it but at the moment they will see you improving, which gives them the courage to know about it. Let us wait for the time they will come to us, that was the right time to share ideas about it as it was useless to share at a time when they don't have interest, you'll just be wasting your time. Until they are still thinking negatively about Bitcoin, nothing it gets in, they will still believe what they heard around -scams and FUDs.

[reagansimms]

_ Guide newcomers to the crypto industry to Bitcoin only.

The Bitcointalk forum is the safest, easiest and fastest place to understand all knowledge about Crypto for newcomers who want to start getting to know Bitcoin more closely. Directing them here is like taking children to school, all knowledge will be easily absorbed if newcomers are in a place or environment that is very friendly to educate newcomers.

_ Don't Force Bitcoin on others, but be a resource to those who seek knowledge

Let them ask themselves questions after they see what you are doing, if they show signs of wanting to know more about Bitcoin, direct them to a place that will make them more interested in Bitcoin. Help them to the extent of your ability, let's just say that you are doing something good by helping someone to open a new way to support their income.

[crwth]

There are a lot of opportunities in the cryptocurrency world but the safest way is to just have BTC and maybe continuously trading BTC. You can Buy and Sell your Bitcoin if you want to take advantage of the price volatility but still stick to BTC.

Thank you for sharing your experience, it's probably what most of us have experienced.

[Iranus]

Many people say that cryptocurrency has high risks. I think that applies to altcoins. If I look at bitcoin, I think it is quite safe because bitcoin always has value and is the best among others.

It seems like you are quite familiar with bitcoin and that is an expression of experience with bitcoin. I agree with you and bitcoin will always be the best now and forever

Bitcoin is the king and will always be. Those altcoins are just decorations in the crypto market and those who may find them attractive will surely take higher risk from winning their investment. But with bitcoin, you get the assurance to end up with profits as long as you stick to it and maximize long term hodling, which is hard yo achieved with altcoins since they’re nothing but a pump and dump scheme. Although there are established altcoins in the market, but let’s accept the fact that they can never be profitable and secured like bitcoin.

If you compare altcoins and bitcoins, the safety level of bitcoins will be absolutely superior, but to say that bitcoins are safe and risk-free is not entirely correct. Because no investment is absolutely safe, not even gold or real estate, let alone bitcoin. But investing in altcoins is really too risky, it is no different from gambling and is no longer called investing. So, for those who do not like too much risk and want significant profits, bitcoin is the best choice. But don't be too subjective that it has no risk and put all your assets and trust in it, remember everything has risk.

[Blitzboy]

Even though Bitcoin is the first cryptocurrency, other coins might have something special to offer. Consider them as the younger cousins of Bitcoin. They have their moments, even though they can be loud and bothersome at times.

Yes, trading altcoins is a challenging endeavor. Its similar to attempting to outsmart the casino's house. You succeed on some days, but not on others. However, isnt that the excitement of the game?

Oh, forecasts for prices. I wish everyone possessed that illusive crystal ball. Lets just enjoy the ride and roll with the punches since we dont.

Its true, I think, that introducing beginners to Bitcoin alone is equivalent to bringing them to a buffet and letting them just eat the salad. Yes, its healthy for them, but maybe they should try the desserts as well. Just an idea

[Jawhead999]

Even though Bitcoin is the first cryptocurrency, other coins might have something special to offer. Consider them as the younger cousins of Bitcoin. They have their moments, even though they can be loud and bothersome at times.

No, there's no such the altcoins have their own moments, it just a short term hype where the paid shills are successfully scam a lot investors. Altcoins price might able to rise, but it's because of Bitcoin bull season. So why you need to invest in altcoins when everything is self centered to Bitcoin? Also remember, until now there's no hack in Bitcoin, but there are a lot hack in altcoins.

[fuguebtc]

I also invested a small amount in altcoins and realized that I was gambling rather than investing, there wasn't anything to learn in gambling. There is only win or lose and it depends entirely on luck.

You are not wrong in saying that people should try altcoins to see the superiority of bitcoin over shitcoins but many people have tried it and got addicted. Because they are blinded by advertisements about altcoins that can bring tons of profits, and until they lose everything, they suddenly wake up. So it's better not to try.

The gambler can’t inverse and spend some time for the analysis before the investment.If you are the gambler,don’t come to the trading.Because the trading is totally different one,gambling is easy to you.So you can easily use the gambling and earn the money from the winning of the gambling.The experienced people will look into the altcoin and the new people use to inverse in the bitcoin for most of the time.Because the investing in the altcoin need more knowledge as compared to the bitcoin investment.

What knowledge is needed to invest in altcoins without losses? Because as I said, it is no different from gambling and people rely on luck to win, so what knowledge do we need here? Like the death of Luna, which is one of the leading altcoins in the 2021 bull season, what knowledge do we need to avoid its demise?

I'm not saying that no one makes a profit from altcoins, there are still a few people who can make a profit from them but that number is very few and rare, just like in gambling there are very few winners.

[KiaKia]

I also invested a small amount in altcoins and realized that I was gambling rather than investing, there wasn't anything to learn in gambling. There is only win or lose and it depends entirely on luck.

You are not wrong in saying that people should try altcoins to see the superiority of bitcoin over shitcoins but many people have tried it and got addicted. Because they are blinded by advertisements about altcoins that can bring tons of profits, and until they lose everything, they suddenly wake up. So it's better not to try.

The gambler can’t inverse and spend some time for the analysis before the investment.If you are the gambler,don’t come to the trading.Because the trading is totally different one,gambling is easy to you.So you can easily use the gambling and earn the money from the winning of the gambling.The experienced people will look into the altcoin and the new people use to inverse in the bitcoin for most of the time.Because the investing in the altcoin need more knowledge as compared to the bitcoin investment.

What knowledge is needed to invest in altcoins without losses? Because as I said, it is no different from gambling and people rely on luck to win, so what knowledge do we need here? Like the death of Luna, which is one of the leading altcoins in the 2021 bull season, what knowledge do we need to avoid its demise?

I'm not saying that no one makes a profit from altcoins, there are still a few people who can make a profit from them but that number is very few and rare, just like in gambling there are very few winners.

I disagree, lack of knowledge is why people lose money in altcoins, I don't believe that altcoin is just like gambling, they are too different, I can bet on a alt project because of it's utility or team and that can net me good return of investment, what about gambling? You can only bet on getting lucky.

In 2020 there are many altcoins that did great and I knew they would at the time, because they are on my radar, no one needs to tell you that Vulcan Forged, Cartesi, Ferrum will do very well, they are new and have never seen a bull market yet, that's one thing about new altcoins, they might fail later but profit is your goal and you will be fine taking profits in a bull market, unless you hold through the bull market.

In 2020 Ferrum was under 0.005$ and it made it to 0.80$ or more, I had this token but not too many because I lacked good funds for investment at that time, this is one of the alts that people didn't even know much about, another one Hex, so many hates on this token because it's from someone people don't like, with few zeros, this alt killed all this zeros and many made life changing money, the problem is they aren't Bitcoin, so yes they might not survive later.

Altcoins aren't as bad as people say if you are trying to take profits during a bull market. I'll post my result on this forum in 2025, as I now have the ability to perform the second magic again. I've saved screenshots of some portfolios at today's value, let's see what happens.

Maybe this time I will finally be able to accept that all altcoins are trash and can't get you rich or make you better money than Bitcoin could.

[JunaidAzizi]

_ Stick to Bitcoin: it's the real deal. Don't gamble on other cryptos
_ Avoid trading altcoin: you are not a genius trader, you will eventually get burned.
_ Never trust price prediction: no one has a crystal ball.
_ DCA into Bitcoin, emotions aside, No need to time this market.
_ share Bitcoin cautiously, people might think you want to scam them.
_ Attend meet up and conference, the Bitcoin community is awesome.
_ Guide newcomers to the crypto industry to Bitcoin only.
_join #bitcoin Twitter: it's less lonely with fellow holders.
_ Don't Force Bitcoin on others, but be a resource to those who seek knowledge

Bitcoin is the most knowable cryptocurrency at this time and I clearly agree with what you said in the post. Most of the points you said are right like staying away from altcoins, Altcoins are highly risky and volatile. when newbies came to the market they were willing to invest in the altcoins as the price is low and they thought that bitcoin needed high investment. Yeah, it's true that altcoins give you high profits but not all the time and only experienced persons can handle this. When they came to market instead of finding the right source for the investment they go towards shitcoins as they do not know about it they judge them by their low price and it's human nature they always go for the cheap first, and in this way, they lose their funds in trading. if I would recommend it to someone then that will be the bitcoin. Don't be afraid of its high price you can also buy it at a low amount of price you can invest in any range according to your well and the best strategy for newbies is to use DCA. Buy at a low price hold it and then sell it when the price goes on.

[shivansps]

It is very well said that no one’s forecast can be one hundred percent correct, no one can predict. A very important note about meeting other people who are interested in Bitcoin, sharing experience is one of the most important skills. You should never disregard someone’s opinion, even if it seems amateurish to you. It is worth considering all opinions and making a decision yourself

[GbitG]

Many people say that cryptocurrency has high risks. I think that applies to altcoins. If I look at bitcoin, I think it is quite safe because bitcoin always has value and is the best among others.

It seems like you are quite familiar with bitcoin and that is an expression of experience with bitcoin. I agree with you and bitcoin will always be the best now and forever

I totally agree with your position that Bitcoin is less risky compared to Altcoin. And due to this reason, some less intelligent people also enter Bitcoin in the same circle that Bitcoin is also like the same volatility in which coins are pumped and dumped in the same minute. Although this is not the case, Bitcoin continues to increase in price as an excellent long-term investment. If we look at the all-time history of Bitcoin, we have seen a continuous rise in its price, and this is what brings Bitcoin to perfection. So I think a precious coin like Bitcoin should not be compared with something infamous like Alt. Because Bitcoin is a very good thing, it is profitable from a long-term perspective.

Moreover, volatility is very high in altcoins, and you should think carefully before investing because if you invest without thinking about an altcoin's current price, and you are waiting for this altcoin to be bought by me, It will give me profit by going above and beyond, but in reality, altcoin cannot trace the price it bought.

So I think that the competence of Bitcoin should not be considered equal to the idea of a high-volatile and worthless thing (altcoin), but Bitcoin is an evaluable thing, and it cannot be equal to this piece of shit.

[gunhell16]

_ Attend meet up and conference, the Bitcoin community is awesome.

I don't think it's necessary to attend conferences just to have an idea or knowledge about Bitcoin. It's just a second option, in my opinion. There are many ways we can learn to understand Bitcoin. I have been in this field for several years, and I have never once attended any bitcoin conferences.

Because this is not practical in my opinion, for those who just want to attend, there is no problem. We can learn self-study, and most people here in the forum know that. But I agree with DCA because it is a really effective way to save Bitcoin or crypto.

[deathcode]

I don't think it's necessary to attend conferences just to have an idea or knowledge about Bitcoin. It's just a second option, in my opinion. There are many ways we can learn to understand Bitcoin. I have been in this field for several years, and I have never once attended any bitcoin conferences.

Because this is not practical in my opinion, for those who just want to attend, there is no problem. We can learn self-study, and most people here in the forum know that. But I agree with DCA because it is a really effective way to save Bitcoin or crypto.

Everyone has their own way according to their habits and preferences for things, some people prefer to interact directly with fellow Bitcoin fans by attending meetings or joining a community in the real world, but some people don't really want to interact directly with fellow Bitcoin enthusiasts they don't know.
In fact, I myself also feel that participating in meetings or conferences like that is less effective, I self have never participated in a Bitcoin meeting or community in the real world, so far I have only been limited to sharing and exchanging ideas with friends who are close to me also a fan of crypto and Bitcoin. I don't know, maybe because I think attending a meeting is boring, especially if the meeting asks us to pay.
Yes, for me learning independently through reading online articles and following the Bitcointalk forum and learning from my friends who are also Bitcoin fans is more effective and more fun because we can set the time whenever we want, we can talk freely and exchange ideas about the world of Bitcoin.

[fuguebtc]

I also invested a small amount in altcoins and realized that I was gambling rather than investing, there wasn't anything to learn in gambling. There is only win or lose and it depends entirely on luck.

You are not wrong in saying that people should try altcoins to see the superiority of bitcoin over shitcoins but many people have tried it and got addicted. Because they are blinded by advertisements about altcoins that can bring tons of profits, and until they lose everything, they suddenly wake up. So it's better not to try.

The gambler can’t inverse and spend some time for the analysis before the investment.If you are the gambler,don’t come to the trading.Because the trading is totally different one,gambling is easy to you.So you can easily use the gambling and earn the money from the winning of the gambling.The experienced people will look into the altcoin and the new people use to inverse in the bitcoin for most of the time.Because the investing in the altcoin need more knowledge as compared to the bitcoin investment.

What knowledge is needed to invest in altcoins without losses? Because as I said, it is no different from gambling and people rely on luck to win, so what knowledge do we need here? Like the death of Luna, which is one of the leading altcoins in the 2021 bull season, what knowledge do we need to avoid its demise?

I'm not saying that no one makes a profit from altcoins, there are still a few people who can make a profit from them but that number is very few and rare, just like in gambling there are very few winners.

I disagree, lack of knowledge is why people lose money in altcoins, I don't believe that altcoin is just like gambling, they are too different, I can bet on a alt project because of it's utility or team and that can net me good return of investment, what about gambling? You can only bet on getting lucky.

In 2020 there are many altcoins that did great and I knew they would at the time, because they are on my radar, no one needs to tell you that Vulcan Forged, Cartesi, Ferrum will do very well, they are new and have never seen a bull market yet, that's one thing about new altcoins, they might fail later but profit is your goal and you will be fine taking profits in a bull market, unless you hold through the bull market.

In 2020 Ferrum was under 0.005$ and it made it to 0.80$ or more, I had this token but not too many because I lacked good funds for investment at that time, this is one of the alts that people didn't even know much about, another one Hex, so many hates on this token because it's from someone people don't like, with few zeros, this alt killed all this zeros and many made life changing money, the problem is they aren't Bitcoin, so yes they might not survive later.

Altcoins aren't as bad as people say if you are trying to take profits during a bull market. I'll post my result on this forum in 2025, as I now have the ability to perform the second magic again. I've saved screenshots of some portfolios at today's value, let's see what happens.

Maybe this time I will finally be able to accept that all altcoins are trash and can't get you rich or make you better money than Bitcoin could.

What's more important is how much those altcoins are worth now and are they still doing well? And are you sure we will continue to grow again in the next bull season? Why do I call investing in altcoins gambling because most will grow well but then they will be dumped and even disappear from the market. Do you still see anyone talking about the top topcoins of 2017 and where they went? Like I said, I'm not saying it's impossible to make money from altcoins but in the long run, are altcoins the right choice? And if we are making short term profits or speculating and need to take big risks, then that is not gambling, so what do you call it?