New to Bitcoin and Cryptocurrency – Need Guidance

[Emikoyumi]

I am completely new to this site. I have recently started learning about cryptocurrency. There are still many things I don’t know, you can say I only know a little. In these few days I have seen that people are very curious about Bitcoin. Everyone wants to know about it.

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.

Now I have some questions which I cannot fully understand:

- 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?


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

[Faisal2202]

- Why is Bitcoin called digital gold?

BTC and Gold has a lot in common, like the scarcity, both have limited supply, although gold's supply can be unlimited but that's depends on the new reservoirs, both are used to store for value, people have lot of money they want to store it in an asset where they don't lose the value due to inflation so both are best hedge against inflation, both are mined but with different method, although there are some small differences in them too like gold is hard to transport and carry while you can caryy and transport trillions of worth of gold's money in the form of BTC.

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

No it depends on the demand and supply and as you said it is decentralized, then why you asked this question.

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

For a long time it will be more profitable.

- 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 the both if you have money and if you can bear to lose it, then I suggest you invest too, because without investing, you are like playing very safe and you won't feel those dynamics of emotions that are necassary for the real battle.

[Porfirii]

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

-snip-

While you're just a Newbie it can be a bit frustrating to navigate because some features are limited on purpose until you rank up (search, images sharing, signature field,...) but have patience and it will definitely be worth the effort. There's no need to rush, it's definitely better a good slow start to avoid mistakes that could lead to your account being banned.

As per learning first or investing straight way, according to my personal experience I enjoyed more investing little money I could afford to lose and making mistakes while learning. Otherwise learning only in theory can be too boring. But that's up to you...

[dzungmobile]

- Why is Bitcoin called digital gold?

Firstly, let's find answer from the resource where you got the term Digital gold and I believe you can find available answers and explanations there.
Secondly, in my opinion, let's call Bitcoin as Bitcoin, nothing more, nothing less, and surely I dislike to call it as Digital gold.

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

It's not automatically go up or down especially upward movement in long term. Bitcoin must have good value in order to be accepted and wanted by many people so that they create buying demand on the market, and lift Bitcoin price up over time.

If a cryptocurrency can go up automatically, you would see the same with altcoins while the reality is different - most altcoins die over time.

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

Invest and hold your bitcoin in long term as history shows that if you can hold bitcoin for years, more than 5 years, you would have gotten profit.
https://hodl.camp/
https://www.bitcoinmagazinepro.com/charts/bitcoin-profitable-days/

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

Start with this https://learnmeabitcoin.com/beginners/

[Coyster]

You can find most of this basic information yourself, i believe the first thing you will read about bitcoin if you are curious is that it is decentralized, and that already answers your question on control. As for it being called digital gold, that is just what a lot of people like to call it, because it is highly sought-after like gold, but it is intangible, hence digital gold.

Read up on some of the links that have been shared, you will learn all this basic stuffs in a heartbeat. If you are going to buy bitcoin, i think the first thing you should be concerned about is the wallet you'd use to store it, and for that you should choose open source wallets that are non-custodial, you should also learn the difference between hot and cold wallets.

[Razmirraz]

- Why is Bitcoin called digital gold?

Bitcoin is called digital gold because it has characteristics similar to gold. This is because its supply is limited (only 21 million coins will be available), making it similar in scarcity to gold. Bitcoin can also be used as a store of value, similar to gold which is often used as a safe-haven. Bitcoin is also completely untouched by the government's monetary policy of "inflation", this character is similar to gold which cannot be affected by monetary policy. Bitcoin runs on its own "decentralized" without any party being able to control it, gold is also like that, it cannot be controlled by a single entity.

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

You've already answered it here.

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.

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

Depending on your investment plan, it is generally more profitable in 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?

I will use the term "kill two birds with one stone", you can start investing while learning as long as you already know the basics of how to buy and store it safely.

[SquirrelJulietGarden]

You can find most of this basic information yourself, i believe the first thing you will read about bitcoin if you are curious is that it is decentralized, and that already answers your question on control. As for it being called digital gold, that is just what a lot of people like to call it, because it is highly sought-after like gold, but it is intangible, hence digital gold.

It was harder to find it in the past but now with AIs, you can easily find it and searching with Google nowadays is more easily than in the past with an automatic search result from Gemini AI appears on top before you have to scroll down for other traditional search results.

Digital gold is only a saying with an attempt to compare Bitcoin and gold while they are different assets and belong to different classes from their existent modes, designs to their use cases. Bitcoin is digital, more flexible than gold, it is more secure than gold too and so many other advantages. Bitcoin is only younger than gold and will still need a lot of years to be accepted like gold now.

[Doan9269]

- Why is Bitcoin called digital gold?

Because its a profitable and affordable digital currency and play the role of gold being of high value and profitability.

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

No one manage bitcoin, its decentralized, bitcoin is a digital currency, a volatile one to say, which its price is determined by its demand and supply as people are buying and selling.

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

If you are new to bitcoin, buy and hold for a long time, this is the best advise for newbies, while the experience ones can go into trading it on 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?

Start learning first, then know when is the best time to invest and be able to hold for the next post halving.

[Marvelockg]

- Why is Bitcoin called digital gold?

As an asset that came into use after gold was considered the best asset to invest in, it was found that bitcoin has similar quality as gold and in addition to that quality, bitcoin is in  a digital form which makes it even better than gold since you do not need the bank to store it or have to cary it from one point to another. in the real sense, bitcoin is just bitcoin because it has it unique nature and does not need gold for it to be given it own defination.

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

To every reaction, there is always a cause and so, bitcoin does not just go up and on. Buys, sells, adoption, FOMO, regulations and a whole lot of other factors all contribute the to volatility of bitcoin. when you stay long enough on the forum, you will learn and have a better knowledge on these concepts in details.

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

there is no way you will be more profitable holding bitcoin for the short term than doing same for the long term. the only way that can happen is if you have the means of accumulating more withine the short term and withine same short term, become experiences a great degree of bull. if that is not the case then long term investment is more rewarding thna short term investment.

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

just learn, interact and invest while you are here. this is what the forum is all about. at least byrelating with people of like mind, you are certain that you can get the right information that will make you a better investor.

[hd49728]

If you are new to bitcoin, buy and hold for a long time, this is the best advise for newbies, while the experience ones can go into trading it on a short time.

Bitcoin is for everyone in investment and trading but with investment, it's more easily to get profit if you can do simply things as follows: manage your finance to have investment capital that you afford to lose, use that investment capital for bitcoin accumulation, hold your bitcoin a long time, you will get profit.

With trading, like investment, it is for everyone too, but it's super difficult to get profit and most traders get losses. If you don't believe you belong to minority of traders, don't think you can trade profitable.

If you think of risk of losing money with trading, just don't trade.

[Humblevirus]

I don't know why you decided to ask  most of these kinds of questions. As far as you have started learning about Bitcoin, these should be the first things you are supposed to have learned. Let's just say these are the basic knowledge of Bitcoin you are asking about. Maybe you have only learned the definition of Bitcoin. You should just calm down and learn more about Bitcoin. In fact, you can ask these kinds of questions on Google, and it will give you perfect answers.

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

You can only be profitable from Bitcoin if you hold it for a long period of time, at least 4 to 10 years. Within this 4 to 10-year period, you can experience one or two cycles of Bitcoin because Bitcoin halving always happens every four years. After each halving, we usually experience a bull run, a period when Bitcoin’s price pumps.if you want to profit from Bitcoin, you need to hold it for the long term. Short-term holding is more like trading, and trading involves high risk. Therefore, proper learning is necessary before someone can start trading and profit from it. As a newbie, you are not advised to start trading at an early stage.

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

As far as you have basic knowledge of Bitcoin, you can start investing gradually, as you have said, by making use of the DCA method like buying Bitcoin weekly or monthly, depending on your income or the amount of money you set for buying Bitcoin.With this DCA method, you will be able to get Bitcoin at different prices instead of buying it all at once.My advice for you is to only invest money that you can afford to lose. Also, try to have emergency funds in case any problem comes up in the near future, so you will not have to tamper with your Bitcoin investment.

[Ronsbit]

Welcome to the crypto world. At first, one thing you should know is that the crypto space is very volatile and also risky, and for these reasons, we are told to only invest with funds we can afford to lose. As a crypto enthusiast, you should know this slogan: "not your keys, not your  coin." This says more about the way we entrust our assets to a third-party crypto exchange. One thing you should understand is that any coin not under your custody is not your own. What I mean is this: if you do not hold the keys to the wallet that holds your assets, you are not the owner of that asset, and that is what the CEXs are. They hold your assets and make you fulfill their requirements before you get access to your assets, which is not safe, and if anything happens to that CEX, your funds are all gone. So you have to be very careful and save your assets under your custody by using a wallet in which only you can easily access your assets whenever you want to.

[hd49728]

You can only be profitable from Bitcoin if you hold it for a long period of time, at least 4 to 10 years. Within this 4 to 10-year period, you can experience one or two cycles of Bitcoin because Bitcoin halving always happens every four years. After each halving, we usually experience a bull run, a period when Bitcoin’s price pumps.

Bitcoin bull run can start after a Bitcoin halving or before a Bitcoin halving. In Bitcoin history since 2009 so far, most market cycles and bull runs start after Bitcoin halvings but there is an exception, this market cycle and this bull run began before a Bitcoin halving in 2024. It is a first ever time in Bitcoin history, we witnessed Bitcoin began its bull run and made a new all time high before a Bitcoin halving.

It's what you missed and stated incorrectly in your post.

[Dex_master25]

I don't know why you decided to ask  most of these kinds of questions. As far as you have started learning about Bitcoin, these should be the first things you are supposed to have learned. Let's just say these are the basic knowledge of Bitcoin you are asking about. Maybe you have only learned the definition of Bitcoin. You should just calm down and learn more about Bitcoin. In fact, you can ask these kinds of questions on Google, and it will give you perfect answers.

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

You can only be profitable from Bitcoin if you hold it for a long period of time, at least 4 to 10 years. Within this 4 to 10-year period, you can experience one or two cycles of Bitcoin because Bitcoin halving always happens every four years. After each halving, we usually experience a bull run, a period when Bitcoin’s price pumps.if you want to profit from Bitcoin, you need to hold it for the long term. Short-term holding is more like trading, and trading involves high risk. Therefore, proper learning is necessary before someone can start trading and profit from it. As a newbie, you are not advised to start trading at an early stage.

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

As far as you have basic knowledge of Bitcoin, you can start investing gradually, as you have said, by making use of the DCA method like buying Bitcoin weekly or monthly, depending on your income or the amount of money you set for buying Bitcoin.With this DCA method, you will be able to get Bitcoin at different prices instead of buying it all at once.My advice for you is to only invest money that you can afford to lose. Also, try to have emergency funds in case any problem comes up in the near future, so you will not have to tamper with your Bitcoin investment.

While this forum is actually named after bitcoin itself as a currency, so far here, i have seen several sections talking about other coins and wonder if one can only learn about just bitcoin but other coins of crypto, inclusively.
While it may also be hard to scroll back to old topics or post talking about bitcoin here, I would suggest the older more supportive members share some worthy links for newbies like me here so we can easily learn instead of figuring everything from scratch and may miss out on the real reason why this forum exist.

I also think this forum exist to talk about the applications of various terms, investment strategies and market scenario in the cryptocurrency market and surrounding the growth and acceptance of bitcoin as number one cryptocurrency in the world.

[Patikno]

I am completely new to this site. I have recently started learning about cryptocurrency. There are still many things I don’t know, you can say I only know a little. In these few days I have seen that people are very curious about Bitcoin. Everyone wants to know about it.

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

Basically, everyone was once a newbie or beginner in anything, including crypto. However, as time goes by, we must continue to learn and develop our knowledge and skills to advance to the next level, namely as experienced individuals. Therefore, as a beginner, you should learn the basics of crypto, and various related topics can be found here. Regarding your last question, ideally, you should learn first before investing, so you are educated on many things, such as the importance of learning various things about crypto (technical and non-technical), learning about finance, and various other things. However, I have learned about some people who initially invest before learning about crypto, or specifically Bitcoin. And I think that is okay, because it can motivate someone to learn more about what they are investing in, followed by learning about things directly or indirectly related to it. So, I think it is also good to invest while learning, as it might be a trigger for you.

[Distinctin]

It’s not a bad idea if you start buying a small portion of bitcoin now and hold it while you are still in the process of learning. It’s one way of making you more motivated and excited of what’s in store for you with bitcoin, so you will gain more passion and interest to learn more about bitcoin, within the forum, and even outside the forum.

My advice is, just don’t get too serious with it. Invest not mainly to make money, but to gain experience, that’s your first goal. Eventually, when you start improving and you are seeing growth with your bitcoin knowledge and involvement, that’s the time you will start maximizing investing in bitcoin, but still with caution and patience which are definitely a must.

[TokenTikas]

- 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.

[MarangoZ]

I am completely new to this site. I have recently started learning about cryptocurrency. There are still many things I don’t know, you can say I only know a little. In these few days I have seen that people are very curious about Bitcoin. Everyone wants to know about it.

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.

Now I have some questions which I cannot fully understand:

- 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?


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

I would personally suggest you  just buy as much bitcoin as u can and store them on a Cold wallet and don't move them at all for more than 10 years
Learn how it works but never move u bitcoin  don't chase fast profits like Gambling or trading as u will lose your bitcoin
so just HODL make it like a challenge for 10 years

[suzanne5223]

- 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.

No, Bitcoin was called digital gold because it changed the narrative of money, asset, and investment through its decentralization, mining, and limited supply (it's consensus at large). This opens the doors to precious opportunities for everyone regardless of race, educational background, and more.

We all gold is mine because it can be find, the same thing applies to BTC, new BTC is generated through mining which is executed by miners while they also secure the network they are also generating new BTC.

About the price. Yes, BTC price fluctuates due to its volatility in nature, but it's the only crypto with the potential of not going to zero, and that's why BTC is prioritized on this forum.

[SquirrelJulietGarden]

No, Bitcoin was called digital gold because it changed the narrative of money, asset, and investment through its decentralization, mining, and limited supply (it's consensus at large). This opens the doors to precious opportunities for everyone regardless of race, educational background, and more.

It's too technical and too complex while Bitcoin is called as digital gold simply because of its existence. It's digital existence while gold has physical existence. I believe that their different existence modes are main reasons of the name calling for Bitcoin as Digital Gold.

Other technical things like decentralization, mining (Proof of Work), limited supply are not reasons for this "Digital Gold" name calling on Bitcoin. Those factors have good contributions for making up Bitcoin value, but not is "Digital Gold" famous calling around.

Between gold and Bitcoin, I think this book has many good insightful comparisons.
The bullish case for Bitcoin.