Why knowledge alone is not enough in crypto.

[Oshio-man]

Greetings my fellow Bitcointalk members and happy Sunday to you all, I brought this topic to advice newbies not to depend alone on crypto knowledge, because there are some people that have the knowledge of crypto but they are still struggle to earn income from crypto, I'm not against the knowledge of crypto, but try to have funds or source of income along side with the crypto knowledge, so that it will be easy for you to grow incomes that will change your life positively in your environment, because the reason why some people are going into a particular forum to achieve knowledge is for them to become great in real life, look for a good job or have something doing that will will be helping you to get some funds you can use to buy crypto if you wish and hold for long term, because that is what will allow the knowledge to generate wealth
  
  Reason why you shouldn't depend alone on crypto knowledge
                                                                  
                                  
1 Crypto knowledge will not make you rich without investing funds or grow your account to join signature campaign to be earning crypto that will make you rich.

2In case the price of crypto is not increasing the way you want it, and you have emergency issues that need funds to solve immediately,  you can sell other things like goats, sheep or farm crops to solve the issues and leave your crypto for future use.

3In case you lose your seeds phrase or you fall victim to scammers, it will not be the end of your life, we don't pray for bad thing to happen to us, but sometimes we do some mistakes that will make us to fall victim to those things in real life, but if you have other investments, it will make the person not to lose hope in life. Do you think those advices are good for newbies to embrace?

[Ever-young]

No knowledge is a waste. How useful and resourceful knowledge can be to you is based on how you treat it. Aside from earning through buying and holding bitcoin and other crypto, some people have full-time jobs working based on the experience and idea they have in crypto; it pays their bills fully by working with big crypto firms.

Even if you grow your account and join a signature campaign, that can't make you rich. Well, it depends on the country you are from; the earnings can help foot some of your daily life expenses, and maybe you save up and leave an average life. Your skill and dedication can bring you life-changing opportunities that can transform you into something useful.

[Alphakilo]

Knowledge applied is enough.

Many times what we hear is for us to do our own research. Do not trust blindly. In doing our own research, we acquire knowledge. It is this knowledge that we acquire that we use to vet, verify new and old information that we come across.

Knowledge applied is enough. In getting knowledge, we get smart, we become aware and we are able to articulate our thoughts and actions in the cryptocurrency industry.

[notocactus]

Reason why you shouldn't depend alone on crypto knowledge

Education and knowledge are all things you must have to start. If you are not a gambler and want to bet your money, and life, you must be educated, learn for knowledge before spending your money for anything like investment or trading.

Without knowledge, anything you do is like gambling and risk is very high.

Knowledge is very powerful, if you get it right and correctly as misinformation, misleading knowledge are very harmful for your journey.

Knowledge, practice, experience and discipline will help you getting success.

[pawanjain]

  Reason why you shouldn't depend alone on crypto knowledge
                                                                  

As they say, knowledge without action is a waste and taking action without knowledge can lead you into trouble.
So both are required if you want to move in a positive direction, lacking one of them will cause you no good.
If you are a newbie, you need to gain knowledge first and then try to take action one step at a time.

[Ruttoshi]

Crypto is not a job and should be seen as an investment which if you don't have a means of income, you cannot invest. It's just like you saying people want to buy gold and pile up for their future without a job.

In case the price of crypto is not increasing the way you want it, and you have emergency issues that need funds to solve immediately,  you can sell other things like goats, sheep or farm crops to solve the issues and leave your crypto for future use.

This is why you need to build up a backup funds called an emergency funds to take care of any unforeseen emergency that will arise when you are investing in bitcoin. Without an emergency funds, it's like gambling, because you will sell your bitcoin when an emergency arises.

In case you lose your seeds phrase or you fall victim to scammers, it will not be the end of your life, we don't pray for bad thing to happen to us, but sometimes we do some mistakes that will make us to fall victim to those things in real life, but if you have other investments, it will make the person not to lose hope in life. Do you think those advices are good for newbies to embrace?

Only invest with an amount of money that you can afford to lose, so that if bitcoin price goes opposite you, you don't end up losing it all. No investment is risk free.

[BABY SHOES]

  Reason why you shouldn't depend alone on crypto knowledge
                                                                  

As they say, knowledge without action is a waste and taking action without knowledge can lead you into trouble.
So both are required if you want to move in a positive direction, lacking one of them will cause you no good.
If you are a newbie, you need to gain knowledge first and then try to take action one step at a time.

The two should complement each other between 'knowledge and action' is better where you already have the knowledge while taking action slowly if for example it is in trading or whatever it is.

So I used to be like that... where I started learning crypto while practicing what was needed... over time it became commonplace and knew what to do so knowledge alone is not enough.

It takes courage and takes risks in crypto.

[Mia Chloe]

knowledge is actually a relatable thing if you ask me especially when it comes to broad and technical things like crypto. Now let's weigh two possible scenarios one of someone intending to hodl and another of someone intending to trade crypto. Now for trading, huge wins is actually directly related to capital meaning to be successful in trading aside knowledge you need capital.

But the thing is with a nice level of knowledge you can create your capital from basically nothing. For the aspect of Hodling you can still make a decent profit as a HODLER without having to pump in a ton of cash suddenly. The fact is simply they go hand in hand but knowledge can't be underestimated.

[Egii Nna]

 Reason why you shouldn't depend alone on crypto knowledge
                                                                  
                                  
1 Crypto knowledge will not make you rich without investing funds or grow your account to join signature campaign to be earning crypto that will make you rich.

2In case the price of crypto is not increasing the way you want it, and you have emergency issues that need funds to solve immediately,  you can sell other things like goats, sheep or farm crops to solve the issues and leave your crypto for future use.

Do you think those advices are good for newbies to embrace?

You gave good advice, but you need to be informed also, because it is not everyone that has the valuable thing to sell to get quick money for emergencies, like you mentioned selling sheep, goats, and even farm produce. But still you need money to buy those things and keep or get them from inheritance, so this advice is not applicable to others; it is just for a few that already have those valuable items.

Furthermore, a signature campaign cannot make you rich if you don’t have another source of income that will be able to cover your needs because the bitcoin gotten from the signature campaign cannot be kept or hold when you know you don’t have any source to feed from, which also depends on the country you live in due to the rate to your county currency.

So when giving advice, try to do some research and bring out other passive or even active income plans that newbies or even others can delve into so that they will get more income to support their knowledge in crypto and also allow them to invest what they can afford to lose.

[Stalker22]

Now, I wanna explain why I think knowledge about crypto is actually pretty important.  Especially if you are thinking about trading versus just buying and holding.  Cause those are two totally different ballgames in my opinion.  If you wanna trade and try to score those big wins, you need time to put down in addition to just knowing the basics and  the more time you invest, the more potential profit.  Whereas if you simply wanna buy some Bitcoin and hold it long-term you dont need as much time upfront.  But either way, doing research and trying to wrap your head around how cryptocurrencies work is super valuable.  Theres a lot more to it than most people realize at first glance.  The technology behind it all can get pretty complicated quick.  But the key things to understand are, like, the role of blockchain how coins differ from tokens, the influence of hype and public opinion, stuff like that.  If you take time to learn about all aspects instead of jumping in blindly, youll make much smarter moves in the crypto trading.  Or at least avoid some rookie mistakes.

[suzanne5223]

Despite knowledge being one of the important components to thrive in every space it is indeed not enough is not applied in the right way, time, and with the needed emotional discipline.
I have seen a lot of people who are knowledgeable but not thriving in their space because of lacking emotional discipline which is the thing that makes someone knowledgeable to behave or foolishly make decisions, and sometimes it makes a knowledgeable person not put his/her knowledge into action.

Crypto knowledge will not make you rich without investing funds or grow your account to join signature campaign to be earning crypto that will make you rich.

Crypto knowledge can make someone rich in this aspect you put out here if put into work because it's the knowledge that pathways and also grows a user account on this forum.

2In case the price of crypto is not increasing the way you want it, and you have emergency issues that need funds to solve immediately,  you can sell other things like goats, sheep or farm crops to solve the issues and leave your crypto for future use.

In a situation where there's no means to get the funds. Selling one holding is not a bad decision if the crypto is not sold at a lost price.

[btcltcdigger]

Crypto knowledge, at least the bare minimum, is a must. Otherwise you're a sitting duck for all the perils that crypto brings with itself.
All of us who have been in crypto long time have experienced good and bad things. But those without knowledge will succumb to bad things, and forsake crypto forever

[CryptSafe]

OP, do you know that with the crypto knowledge you have gained, you can be a consultant? no knowledge is a waste irrespective of how small it is, it would one day be applicable in some certain situation you might find yourself. I agree that it is good to be practical in the sense that you will have to invest in crypto and not just talk about it because that is where you can draw your field of experience while going through the market situations and events related to crypto trading. With this, you can conveniently and comfortably talk about crypto trading when to invest, and when to leave the market as a result of the knowledge you have gained while trading.

[EluguHcman]

 Reason why you shouldn't depend alone on crypto knowledge                                                      

Knowledge is power but putting it to work effectively is very necessary.

In the crypto industry, your highily professional obtained knowledges without being able to utilize them to user is apparently a useless but would be maximize if put to work.

Hence it is crypto, it is always advised to stay connected with the current updates to enhance your funds securities and also stays in trends on the market systems so that you could decide if and where necessary to diversify your portfolios.

Research and consultation of other users and platforms would always alternate you to be warmly on the good approach Instead of relying on your knowledge alone.

[GreatArkansas]

1 Crypto knowledge will not make you rich without investing funds or grow your account to join signature campaign to be earning crypto that will make you rich.

I believe that it depends on the goal of a person some people are not into money why do they start to explore Bitcoin or cryptocurrency? So, we should consider that as well. They could've been into innovation, education, and learning more.
But if we talk about investment and money, you have a point, you need to be wise in this market, it's not easy even if you have a good amount of funds, you could go bankrupt.

[mvdheuvel1983]

Having knowledge about something gives you a good understanding to go deeper to know what you are doing, no knowledge should be taking for granted because you need it to act smartly on your investment. Knowledge is also needed to either get a skill or to start working to raise capital for your investment without having the right knowledge you will be pushed to investing in scam projects which you will regret after losing money. Before using your money to invest take a good time to have a broad knowledge and when it comes to crypto investment you have to learn and be ready to keep learning so that you will not work and waste all your years of working to invest in something that will not generate nothing to you.
Investing in cryptocurrency after getting knowledge is good also try to have knowledge of other things since having multiple sources of income as an investor will have you to build your wealth with peace of mind.

[sunsilk]

                   
1 Crypto knowledge will not make you rich without investing funds or grow your account to join signature campaign to be earning crypto that will make you rich.

But can still make someone see an opportunity from within and that's through applying in any open opportunity aside from investing and campaigns.

Just like in real life, there are jobs that requires crypto knowledge that one can work for.

2In case the price of crypto is not increasing the way you want it, and you have emergency issues that need funds to solve immediately,  you can sell other things like goats, sheep or farm crops to solve the issues and leave your crypto for future use.

This has been an issue to many crypto holders. They're not prepared thus, they've sold their holdings during those emergencies.

[knowngunman]

1 Crypto knowledge will not make you rich without investing funds or grow your account to join signature campaign to be earning crypto that will make you rich.

U I?
I don't know from which perspective you're viewing this but I will disagree with you entirely on this specific point. With your crypto knowledge, you can definitely make a leaving even without investing. Although, investment is a personal preference and not everyone develops interest in it despite it's long proved advantages. With your crypto knowledge, you can offer to teach others about it and of course, not free but with a designated charges. Secondly, you don't need funds to grow your account in this forum. Crypto knowledge is completely what you need to do that. Sharing your trading ideas, fundamental and technical analysis and security tips will earn you merits that you need to rank up. As far as crypto is concerned, knowledge comes first before any other thing.

2In case the price of crypto is not increasing the way you want it, and you have emergency issues that need funds to solve immediately,  you can sell other things like goats, sheep or farm crops to solve the issues and leave your crypto for future use.

I actually don't understand what this particular point is attempting to prove as this thread is concerned. Perhaps, you are trying to justify the importance of diversification of investment and not putting all your funds in crypto. If I guess correctly, then it's a good way to go as it prevents you from tempering with your investment at a wrong time due to emergency.

[Judith87403]

Of course having the full knowledge about crypto can not make one become rich, I totally agree with you on that. but one thing you need to know is that for you to be successful in life definitely you will have to start from somewhere, and this first step you will take is by learning to acquire all the whole knowledge that is required in that particular field you find yourself into so as to become a professional in that field.

 probably after achieving this you can decide to start if it is knowledge about how crypto investment works you wish to acquire, of course this will enable you carry out a good investment plans because you have gotten all the necessary information about crypto investment. at this point you won't face any difficulties when making your investment, This is the reason why you see most newbies talking about having the knowledge about crypto investment. for the fact that they keep saying this does not mean that their aim is just to have enough knowledge about crypto, rather they just want to understand everything about crypto investment before going to it.

[Crypto Library]

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To be honest, when I was new in this industry I came here with zero pocket and so that's mean I have zero investment as well I also have zero knowledge. After that I introduce with this forum and as well some good people around there and have good sources of knowledge and I jump into here I have to make money from there even I have zero investment And yes, to be honest, from my personal experience, it is really possible to start your journey in Crypto with just knowledge and earn.
However, if your target is only trading and investment, then it will be different because in the case of trading, you must earn knowledge and invest both.

But you can do this with zero investment but you have to initially explore this crypto industry and earn by gaining knowledge by doing Airdrop or the crypto campaigns(bounty, signature,review) or by providing services in some other way and later with that earning and with your earned knowledge you can achieve success here.
This can sometimes take us up to a few years. But I think those who start their journey like this can be the ones who are basically successful and those who suddenly start their journey with only investment fail after going some distance.