New to Bitcoin and Cryptocurrency – Need Guidance

[retreat]

- Why is Bitcoin called digital gold?

Many people say that Bitcoin is digital gold because it has characteristics that are almost similar to gold. However, Bitcoin is not digital gold. Bitcoin is Bitcoin, and digital gold is digital gold. They are two different things.

- Does Bitcoin automatically go up and down or is it managed
  by any company or person?

It is not managed by anyone. Bitcoin is decentralized; no one controls Bitcoin. As for the price of Bitcoin, it is influenced by buyers and sellers. If there is higher demand, the price goes up, and if there are more sellers, the price will go down.

- If I buy Bitcoin, will it be more profitable to hold it for a long
  time or for a short time?

Long-term investments are more advisable to secure profits and minimize short-term risks. This is because, in the short term, Bitcoin prices tend to be volatile.. and with a long-term strategy, you don’t need to monitor the charts every day.

- As a beginner, what should I do here? Should I slowly start
  learning from here or should I try to invest along with learning?

It depends on you, whether you want to learn first and convince yourself until you can invest, or you can invest while learning. The point is that you need to understand the risks and basic knowledge about Bitcoin investment first. Don't jump in without preparation, as you could end up selling at a loss when the market is not in your favor.

[Guccho]

- Why is Bitcoin called digital gold?

- Does Bitcoin automatically go up and down or is it managed
  by any company or person?

- If I buy Bitcoin, will it be more profitable to hold it for a long
  time or for a short time?

- As a beginner, what should I do here? Should I slowly start
  learning from here or should I try to invest along with learning?

Bitcoin is sometimes referred to as digital gold, as -just like gold- it is limited and can preserve value throughout time. Which makes it limited; there are only ever going to be 21 million Bitcoins much like gold.

It is not controlled by any company or individual in terms of price It varies up and down depending on supply and demand, investor sentiment, news and world events. People cannot manage it fully, which makes it attractive.

Contrary to the popular opinion that claims that short-term trading is risky and long-term holding is profitable, both are risky and rewarding. Short-term trading is also possible, and it can be a profitable strategy in case you have a good idea of what is going on in the market and you are cautious.

Learning to make a living with Dad and Lefty is best as a first-timer. Do some research, follow reputable sources, and the dangers of investing real money are known before investing. As you become more comfortable, then it is possible to start small and test it out slowly, in the same manner, you are able to keep learning. Cryptocurrency Knowledge is the best form of protection.

[Fiasem20]

Now I have some questions which I cannot fully understand:

- Why is Bitcoin called digital gold?

Bitcoin is always referred to as digital gold because of the similarities;
*Scarcity
*Store of value
*Investment instrument
*Hedge against inflation

- If I buy Bitcoin, will it be more profitable to hold it for a long
  time or for a short time?

Yes it would be profitable for the long run.

- As a beginner, what should I do here? Should I slowly start
  learning from here or should I try to invest along with learning?

You can do both,you being here isn't a wrong decision.

[Callido]

- Why is Bitcoin called digital gold?

The reason why Bitcoin is called digital gold is that people are very curious about Bitcoin nowadays. Just like gold, even though its price fluctuates, it has a stability, gold has maintained its stability for a long time. Bitcoin is also a means of maintaining value for many people nowadays. If you look closely, you can understand that the most interesting thing is that its number is limited, just like the gold reserves in the world are limited. That is why many people call it digital gold.

There is a more concrete characteristic why Bitcoin can sometimes be referred to as digital gold. Your reason is wrong, Bitcoin isn't called digital gold because of stability, to be clear Bitcoin isn't stable, its price fluctuates what we call price volatility.

Bitcoin is referred to as digital gold because of some alike characteristic like store of value and a good hedge over inflation.

[StreetWall Token]

Hi there, welcome to the forum! It’s great that you’ve started learning about Bitcoin and cryptocurrency. I’ll try to answer your questions as simply as possible:

Why is Bitcoin called “digital gold”?
Bitcoin is limited to 21 million coins, which makes it scarce, just like gold. People also see it as a store of value over the long term, meaning they believe holding Bitcoin can help protect their wealth against inflation or currency devaluation.

Does Bitcoin go up and down automatically, or is it controlled?
Bitcoin is not controlled by any company, government, or person. Its price moves based on supply and demand. When more people want to buy than sell, the price goes up. When more want to sell than buy, it goes down. It’s completely open and driven by the market.

Should you hold Bitcoin for a short time or long term?

Long-term (“HODL”): Many people buy Bitcoin and hold it for years, believing its value will increase as adoption grows.

Short-term trading: Some try to profit from small price movements, but this is risky and requires experience.
As a beginner, it’s usually safer to learn first before making big investments.

What should you do as a beginner?

Start by learning as much as possible: blockchain basics, how Bitcoin works, and how wallets work.

Explore this forum, ask questions, and read discussions.

If you decide to invest, start small — only invest what you can afford to lose.

Focus on security: use a trusted wallet, enable 2FA, and never share your private keys or seed phrase.

Final tip: Don’t rush. Knowledge first, investment second. The more you understand, the safer and smarter your decisions will be.

[TokenTikas]

- As a beginner, what should I do here? Should I slowly start
  learning from here or should I try to invest along with learning?

First of all, it is essential to learn. I'm still at the very beginning, trying to understand the matter. I did not understand what was happening or what I would do if I invested without knowing why. So, if I can do a little practical experiment along with learning gradually, the learning will be deeper and the risk will be less. In fact, this is how I started from the beginning.

[Rustam Meraj]

Good that as novice you would be doing scripture research and learning about Bitcoin which is non central cryptocurrency that is digital. It has become customary to refer to bitcoin as digital gold, since it is also scarce and can be transferred anywhere. Nobody has control over its price. It fluctuates on basis of  number of people who wish to buy or sell it. Best beginner can do is to keep Bitcoin over long period of time as opposed to trying to buy and sell it as soon as possible as this can be quite hazardous. Best you can do right now is to keep learning about Bitcoin and how to secure it before you could invest any money on it. After coming to grips with it, then you may consider investing modest sum on it that you can afford to lose with.

[BIT-BENDER]

Why is Bitcoin called digital gold?

Don't take this too seriously it just a name to praise Bitcoin, Bitcoin is not actually gold. It would be correct if you say Bitcoin is a digital currency.

Does Bitcoin automatically go up and down or is it managed
  by any company or person?

Obviously you haven't done any tangible reading, may be you should start. But I will tell you this that Bitcoin is volatile and not managed by any Central body.

If I buy Bitcoin, will it be more profitable to hold it for a long
  time or for a short time?

That's up to you because you know your target and if holding Bitcoin short term reaches your target then that is for you to decide but to actually give your portfolio time to grow then long term is great.

As a beginner, what should I do here? Should I slowly start
  learning from here or should I try to invest along with learning

This is not a question that needs you to have experience in Bitcoin to answer. It is obviously a generally wise to learn about something first before investing.

[Davidvictorson]

- As a beginner, what should I do here? Should I slowly start
  learning from here or should I try to invest along with learning?

I think that instinctively you will know what to do. But in my estimation, the rule of thumb is to start learning first. Just like a baby, you need to learn how to crawl forat and once you feel confident enough, you take your first steps. I think that the type of resources that you are exposed to will also play some role how fast you learn. Get the right resources. I'll share some with you below.

Here you go
If you are looking to learn more about bitcoin, I usually share mk4 compilation for those need to start from somewhere. It has helped me immensely and I hope it does so for you too. Here it is below.

Also, if you're new to bitcoin as well:

* If you like reading articles: https://coindesk.com/learn  -  Mine( https://cointelegraph.com/, https://bitcoinmagazine.com/)
* If you like reading books: https://theinternetofmoney.info/
* If you like watching videos: https://www.youtube.com/playlist?list=PLPQwGV1aLnTuN6kdNWlElfr2tzigB9Nnj

Security related:
* https://chainsec.io
* https://www.lopp.net/bitcoin-information/security.html

If you want to get more technical
* https://github.com/bitcoinbook/bitcoinbook#chapters

https://bitcointalk.org/index.php?topic=5497602.msg64121922#msg64121922

[Miles2006]

- Does Bitcoin automatically go up and down or is it managed
  by any company or person?

- If I buy Bitcoin, will it be more profitable to hold it for a long
  time or for a short time?

- As a beginner, what should I do here? Should I slowly start
  learning from here or should I try to invest along with learning?

Bitcoin price fluctuation is compulsory, firstly bitcoin price fluctuation has to do with the bearish and bullish period. The market being unstable has nothing to do with a company or an individual, bitcoin can’t be controlled by an individual meaning you can own bitcoin freely without a second party dictating how to hold and spend. Bitcoin price increasing can be as a result of an event, although the price cannot be manipulated by an individual.

Generally bitcoin investment is a long term investment, if anyone should stay in the crypto space for a day they’ll definitely find the word “long term planning” associated with the word investment, long term planning is advisable for all investors so they don’t end with regret.

[Hyphen(-)]

As far as I have learned, it is not controlled by any government or person. It is a decentralized coin. People call it digital gold. It allows people to directly transact with each other.

Yes, Bitcoin is not been controlled by either government or any authority, that is why it is completely different from other cryptocurrencies and other investments outside crypto because most of these investments like gold outside crypto do involve third party, and one can get fake gold or anything fake, but nothing like fake Bitcoin.

However, all these questions you asked are something I believe has been answered by many of the forum members, you can learn from their response because they are all right.
Furthermore, you can learn more on your own in this book, it is well explanatory and you will get all the basica you will need to know about Bitcoin and cryptocurrency in general.

[Orpichukwu]

Now I have some questions which I cannot fully understand:

- Why is Bitcoin called digital gold?

Because they consider gold to be the most valuable asset, as bitcoin comes to light, some try to compare both and refer to bitcoin as digital gold even when it's not supposed to be so.

- Does Bitcoin automatically go up and down or is it managed
  by any company or person?

No one controls the price of Bitcoin; it's done by demand, although right now some entities have the holding power to manipulate the market to some extent before it can start picking up on its own.

- If I buy Bitcoin, will it be more profitable to hold it for a long
  time or for a short time?

Long-time holders are the ones who enjoy the most profit, and the longer you hold, the higher the price of Bitcoin can go, and how long you can hold is based on how determined you are as well.

- As a beginner, what should I do here? Should I slowly start
  learning from here or should I try to invest along with learning?

Learn the basis. If you know the basis, you can invest the little you want to start with, and then as time goes on, you can expand your knowledge in the area you want on Bitcoin. Bitcoin is very broad; you can't know everything about it in one day, including the technical aspects of it.

I hope the seniors here will try to help me.
Thank you.

And I hope you can make time to read through all the honest comments from members above, and more to come.

[Zigabel]

- Why is Bitcoin called digital gold?

- Does Bitcoin automatically go up and down or is it managed
  by any company or person?

This is the two questions that got my attention the most nd I wat to attempt them to the best of my knowledge all the times I have had dealings with Bitcoin.  The value that is attached to Bitcoin is the main reason it is been referred to as the digital Gold because that is the asset you can liken to Bitcoin outside the digital space.

Bitcoin does not automatically go up and down technically, but it does if you are looking at it on the surface. If you understand the economic of demands and supply then you will have the best insight as to the reasons for the upwards and downwards movement of Bitcoin, you may aswell understand the dynamics through that and know that it is not actually just going up and down automatically, it is responding to real life situations independently because it was actually created for human use.

[Makus]

I hope the seniors here will try to help me.
Thank you.

The beauty about bitcoin is that it can make transaction from every part of the world provided you have an internet connection and you can also make very large amount of transactions without anyone knowing who you actually are. And it is considered digital gold because gold is a valuable asset however they called it that because bitcoin with just few years of existing compared to gold has grown rellay fast in value while it still has the transaction features like gold. Gold is actually a currency and also an asset which stores value and bitcoin also is.

The price of bitcoin isn't controlled by any single individual or company, if that was the case I believe  the government  by now would have had their hands on the project controlling it like their pet. But that's what makes it even interesting, though there are several  fact that can affect the worth of bitcoin include world news positive or negative and also the amount of orders that get into the market be ut buy or sell.

[Awaklara]

I hope the seniors here will try to help me.

I don't know why I feel strange about the points you raised. Even a newbie wouldn't ask such a question in their first thread. It seems like a forced question from someone who actually knows a lot but is pretending to be a new user.
After looking at your posting history, I'm sure you are not a newbie. Stop pretending and be yourself.

[Su-asa]

I hope the seniors here will try to help me.

I don't know why I feel strange about the points you raised. Even a newbie wouldn't ask such a question in their first thread. It seems like a forced question from someone who actually knows a lot but is pretending to be a new user.
After looking at your posting history, I'm sure you are not a newbie. Stop pretending and be yourself.

It has been more than 73 hours since OP created this thread but up till now he haven't responded to anyone, which means he's not following up the thread.
Many newbies that comes to the forum nowadays dint follow their threads, they create threads and forget about it, but later some of them still for back to create another one and ask the same thing.

[Issa56]

- Does Bitcoin automatically go up and down or is it managed
  by any company or person?

No company or anyone is increasing bitcoin price, bitcoin price is always going high when the demand is high, so the higher the demand, the higher the price goes. If bitcoin price is dumped and pumped by company or group of people, then am sure nobody will be investing in bitcoin, because it’s just going to be like it’s a group of people thats playing with our money.

- If I buy Bitcoin, will it be more profitable to hold it for a long
  time or for a short time?

If you are planning to buy and hold bitcoin, then your intention is to be for long term, holding bitcoin for a short period of time might not really be profitable, and the risk is just kind of high compare to if you are holding bitcoin for a long term. If anyone is investing in bitcoin, then I do always recommend they hold bitcoin for long term for maximum profit.

- As a beginner, what should I do here? Should I slowly start
  learning from here or should I try to invest along with learning?

If you really want to understand what you learning, then always put anything you have learned into practice to be sure that you already understand it. If you are learning here, then you can just decide to invest along with learning, I think that’s going to be better, and it’s going to make learning easier.

[Emikoyumi]

I hope the seniors here will try to help me.

I don't know why I feel strange about the points you raised. Even a newbie wouldn't ask such a question in their first thread. It seems like a forced question from someone who actually knows a lot but is pretending to be a new user.
After looking at your posting history, I'm sure you are not a newbie. Stop pretending and be yourself.

It has been more than 73 hours since OP created this thread but up till now he haven't responded to anyone, which means he's not following up the thread.
Many newbies that comes to the forum nowadays dint follow their threads, they create threads and forget about it, but later some of them still for back to create another one and ask the same thing.

I never said that, i know nothing. I am just new to this site. it is my first time here. I always try to learn and that’s why i have been following this thread closely, reading everyone’s opinions and experiences. But that doesn’t mean you need to answer every single question i ask. I truly respect everyone’s views because they don’t just help me they also help other newcomers who are reading and learning along the way.

[Catenaccio]

I never said that, i know nothing. I am just new to this site. it is my first time here. I always try to learn and that’s why i have been following this thread closely, reading everyone’s opinions and experiences. But that doesn’t mean you need to answer every single question i ask. I truly respect everyone’s views because they don’t just help me they also help other newcomers who are reading and learning along the way.

You can ask anything you, it's surely possible as forum respects freedom but to maximize your learning progress, searching and learning by yourself is better. You can search proactively and learn very effectively with powerful search engines and AIs nowadays.

Search, learn, search and learn, repeat this cycle until anytime you feel like you reach your limit of self-learning and have some doubtful big questions to ask for help. Then you can bring those questions here, and there are many knowledgeable members in the forum who can help you.

Let me emphasize that with very basic questions, you don't need to ask here - surely you can - as you can find answers through searching.

[alegotardo]

- Why is Bitcoin called digital gold?

Because its scarce, like gold... the maximum that can exist is 21 million units, and no one can change that without mobilizing practically the entire Bitcoin community... unlike fiat money (issued by governments), which can be printed without limit, generating inflation.

- Does Bitcoin automatically go up and down or is it managed
  by any company or person?

No company or government controls its value... it depends solely on market supply and demand... the more people buy, the more it rises, and if too many people sell, then it falls... its market is 100% open and therefore volatile.

- If I buy Bitcoin, will it be more profitable to hold it for a long
  time or for a short time?

Certainly in the long run... to this day, those who held Bitcoin for years have had much better financial results than those who risked discovering the "low" and "high" and sold quickly.

- As a beginner, what should I do here? Should I slowly start
  learning from here or should I try to invest along with learning?

Learn about wallets, how to protect your private keys, don't leave them on exchanges or online services... Start small with modest contributions, learn more and contribute more gradually... Read about halving, blockchain, and how to avoid scams... Be patient, because Bitcoin requires knowledge and discipline... Haste is synonymous with loss in this world.

And always keep in mind that Bitcoin won't make you rich overnight.