Mindset change : What I’ve learnt since joining this forum

[Agbam]

Good day everyone this is my first post here, I’m glad to be amongst great minds.
I’ve read the post about the forum rules and what newbies should know about the forum. Yeah I’ve been roaming the forum since I joined, doing a lot of reading and exploring the informations available here.
It’s really been enlightening for me, there are some things I’ll like to point out ;-

1. The forum is filled with a lot of informations about bitcoin, financial management and some valuable experiences shared by users… doing a research here might even be better than using Google

2. Bitcoin is not only for the rich: I’m in a society where we think anyone who deals in bitcoin or cryptocurrency is wealthy, but of course they are however a normal guy can also invest in bitcoin with just the little money available to you. I used to think only the rich are able to buy bitcoin because of the price and it keeps going up.

3. Yeah I haven’t been long into cryptocurrency and all that surrounds it but I’m getting to understand from some posts and comments here that bitcoin is not a cryptocurrency but a digital asset and it has potential of becoming so much more. So other coins apart from Bitcoin are Cryptos. But it’s still weird to me, cos I used to know all digital coins are cryptocurrency.

4. Bitcoin is not a get rich quick scheme: When I see some people in my locality who are into bitcoin or cryptos, they look rich and some over short periods of time so I’ve had this idea that bitcoin or crypto can get you rich faster, but now I’ve come to realise It takes patience, right knowledge of investing and commitment to really make it in bitcoin.

5. I’ve also learnt that it’s better to invest and keep accumulating bitcoin for a long term than to trade bitcoin in short term. Investing long term has potential for higher or better profits. But it’s traders or people who say they’re traders that fluent wealth all the time maybe they get their money from elsewhere.

6. I’ve seen a lot of posts that want to make me start buying bitcoin, I mean the way guys talk about bitcoin I feel I’ve been missing out a lot. Why didn’t I just pick interest when I first heard of bitcoin.., yeah it’s been ages I should have been a billionaire by now.


I believe there are loads of informations in the forum and anyone willing to study or learn will find it exceedingly useful.

[Somegory]

Trading can not be ruled out, there are just too many successful traders out there but the risk involved is too high for most people especially the newbies, I will never advice a newbie to start trading, most I have get to know always have a story that touch to share and they always run away in the end. Holding have less risk, buy Bitcoin and hold, keep your recovery seed safe and you will make a lot in the future without doing anything else.

[TravelMug]

Regarding you number 6 bullet.

Yes, many of us might have regret not investing in Bitcoin even if we have heard it before. But then again, it's not too late. The best time to invest in Bitcoin is today. And it's true, that you needed to hold and continue to stacking sats at least in a 4 year cycle.

Bitcoin investment also teaches us about investing itself. Majority of us might not be considered as investors, but when we involved ourselves into Bitcoin, chances are we became or learn what investment means and then somewhat becoming an expert in our own.

Just go around the forum, have fun and read as much as you can. Best of luck and hope that you will stay in this community and become a Bitcoin holder.

[pawanjain]

Good day everyone this is my first post here, I’m glad to be amongst great minds.
I’ve read the post about the forum rules and what newbies should know about the forum. Yeah I’ve been roaming the forum since I joined, doing a lot of reading and exploring the informations available here.
It’s really been enlightening for me, there are some things I’ll like to point out ;-

1. The forum is filled with a lot of informations about bitcoin, financial management and some valuable experiences shared by users… doing a research here might even be better than using Google

2. Bitcoin is not only for the rich: I’m in a society where we think anyone who deals in bitcoin or cryptocurrency is wealthy, but of course they are however a normal guy can also invest in bitcoin with just the little money available to you. I used to think only the rich are able to buy bitcoin because of the price and it keeps going up.

3. Yeah I haven’t been long into cryptocurrency and all that surrounds it but I’m getting to understand from some posts and comments here that bitcoin is not a cryptocurrency but a digital asset and it has potential of becoming so much more. So other coins apart from Bitcoin are Cryptos. But it’s still weird to me, cos I used to know all digital coins are cryptocurrency.

4. Bitcoin is not a get rich quick scheme: When I see some people in my locality who are into bitcoin or cryptos, they look rich and some over short periods of time so I’ve had this idea that bitcoin or crypto can get you rich faster, but now I’ve come to realise It takes patience, right knowledge of investing and commitment to really make it in bitcoin.

5. I’ve also learnt that it’s better to invest and keep accumulating bitcoin for a long term than to trade bitcoin in short term. Investing long term has potential for higher or better profits. But it’s traders or people who say they’re traders that fluent wealth all the time maybe they get their money from elsewhere.

6. I’ve seen a lot of posts that want to make me start buying bitcoin, I mean the way guys talk about bitcoin I feel I’ve been missing out a lot. Why didn’t I just pick interest when I first heard of bitcoin.., yeah it’s been ages I should have been a billionaire by now.


I believe there are loads of informations in the forum and anyone willing to study or learn will find it exceedingly useful.

Its quite surprising to see that you have registered on this forum just two weeks ago and you have learn so many things already.
Newbies usually take the first few days just to get their hands on the forum but its good to see that you have so much of clarity already.
The best thing to get started with is by buying bitcoin but you must also know how to secure your coins otherwise you might lose your coins.
So start learning about how to secure your coins. There are already plenty of threads on this forum that addresses this.

[mrust_mobile]

One of the important lessons you probably miss is that you don’t need to go all in on btc to become a bitcoiner. Just DCA into it and again not with all your monthly income. Do it with 3 or 5% of your monthly income for example. People who do all-ins also do all-out in the worst possible time when the markets are down. You don’t want to become one of those people.

[Patikno]

3. Yeah I haven’t been long into cryptocurrency and all that surrounds it but I’m getting to understand from some posts and comments here that bitcoin is not a cryptocurrency but a digital asset and it has potential of becoming so much more. So other coins apart from Bitcoin are Cryptos. But it’s still weird to me, cos I used to know all digital coins are cryptocurrency.

Sorry, but I think you are a little misunderstood on this point. As far as I know, Bitcoin and other coins or tokens are Cryptos, because basically all digital currencies use cryptography technology, but cryptos other than Bitcoin are called as "ALTCOINS", and that is the definition I understand, Cmiiw. By the way, where did you get your information from?

Here are some references that we could read about :  wikipedia - Cryptocurrency & wiktionary - Altcoin or kaspersky.com - What is Cryptocurrency and how does it work?

[Zanab247]

One of the important lessons you probably miss is that you don’t need to go all in on btc to become a bitcoiner. Just DCA into it and again not with all your monthly income. Do it with 3 or 5% of your monthly income for example. People who do all-ins also do all-out in the worst possible time when the markets are down. You don’t want to become one of those people.

BTC is different from other cryptocurrencies in case you want to invest what you can afford to lose in cryptocurrency, because BTC lead other cryptocurrencies to pump for people to know that BTC still remain the king among other cryptocurrencies. No matter experience or knowledge you achieve from cryptocurrency before joining this community, you must obey the rules and regulations in this community to enjoy the activities.

DCA is a good method that help investors to grow profits from cryptocurrency, because the more years you hodl BTC will determine the type of profit you will earn in the bull run.

[Agbam]

One of the important lessons you probably miss is that you don’t need to go all in on btc to become a bitcoiner. Just DCA into it and again not with all your monthly income. Do it with 3 or 5% of your monthly income for example. People who do all-ins also do all-out in the worst possible time when the markets are down. You don’t want to become one of those people.

Yeah I've been hearing a lot about this DCA, I'll look into it further to fully understand it and know how I can implement it excellently, that will be when I'm fully ready cos right now I don't have any free money for investment but I'm really looking into that

[TESY]

One of the important lessons you probably miss is that you don’t need to go all in on btc to become a bitcoiner. Just DCA into it and again not with all your monthly income. Do it with 3 or 5% of your monthly income for example. People who do all-ins also do all-out in the worst possible time when the markets are down. You don’t want to become one of those people.

Yeah I can say that is one of the best way to stack bitcoin no matter the price just buy some every month

Op I saw you are also new to this forum me too
imagine if we where 10 years ago what kind of mindset would me had today

[shield132]

4. Bitcoin is not a get rich quick scheme: When I see some people in my locality who are into bitcoin or cryptos, they look rich and some over short periods of time so I’ve had this idea that bitcoin or crypto can get you rich faster, but now I’ve come to realise It takes patience, right knowledge of investing and commitment to really make it in bitcoin.

It really was a get-rich-quick scheme when it was freshly released. Pre-2016 was the best era of Bitcoin because this coin quickly went from $600 to $20000. 2020 wasn't bad either because after 2017, the price crashed down to $3000 and from $3000 it went up to $70000. This year wasn't bad but wasn't great either, the profit was modest but I'm sure that every next post-halving period will be less profitable because the market is very saturated right now. It still has potential but it's definitely not a get-rich-quick theme.

[SOKO-DEKE]

5. I’ve also learnt that it’s better to invest and keep accumulating bitcoin for a long term than to trade bitcoin in short term. Investing long term has potential for higher or better profits. But it’s traders or people who say they’re traders that fluent wealth all the time maybe they get their money from elsewhere.

Yes, when comparing trading and long term investments, it is clear that longer term investments involve less risk than trading. Why are many people investing heavily in Bitcoin? It’s because it doesn’t involve the same level of stress as trading, where you constantly need to do analysis from time to time. In Bitcoin investment, you just need to buy and ensure proper security for your Bitcoin.BAlso, Bitcoin investment does not require deep knowledge before you can start. However, if someone wants to trade, it really requires serious and deep knowledge before they can begin.

But the fact is, there are still people making huge money from trading, so it’s not bad  it just requires a lot from someone.Ultimately, it depends on a person’s desire to go where they feel it works best for them. The truth is, both trading and investing are ways of making profits.

[Mpamaegbu]

3. ...but I’m getting to understand from some posts and comments here that bitcoin is not a cryptocurrency but a digital asset and it has potential of becoming so much more. So other coins apart from Bitcoin are Cryptos. But it’s still weird to me, cos I used to know all digital coins are cryptocurrency.

It would be misleading to say Bitcoin isn't a cryptocurrency. It's. However, it's the only cryptocurrency that isn't an altcoin. It stands alone on it's one. Therefore, there are two forms of cryptocurrency in this regard to explain it further – Bitcoin and altcoins.

The term "cryptocurrency" refers to every form of electronic currency. Bitcoin is also a form of electronic currency.

[hd49728]

The term "cryptocurrency" refers to every form of electronic currency. Bitcoin is also a form of electronic currency.

I think the term "Cryptocurrency" is only for currency that is based on blockchain which is developed from cryptography. See "Crypto" from Cryptography is a part of the term "Cryptocurrency".

I disagree to call all online currency as cryptocurrency as technically, they don't belong to it if they don't operate on blockchains and releated to cryptography. It will be more confusing if using cryptocurrency term for everything can be spent online.

https://en.wikipedia.org/wiki/Cryptocurrency

[Mpamaegbu]

~snipped~

You're right in the terms you used too but I didn't want to confuse the OP further with unnecessary terminologies, seeing that they're a newbie. The best way to explain a complex thing to a novice is to do it in a layman's language. That was what I did there.

[Agbam]

The term "cryptocurrency" refers to every form of electronic currency. Bitcoin is also a form of electronic currency.

I think the term "Cryptocurrency" is only for currency that is based on blockchain which is developed from cryptography. See "Crypto" from Cryptography is a part of the term "Cryptocurrency".

I disagree to call all online currency as cryptocurrency as technically, they don't belong to it if they don't operate on blockchains and releated to cryptography. It will be more confusing if using cryptocurrency term for everything can be spent online.

https://en.wikipedia.org/wiki/Cryptocurrency

Thank you for your input and Clarification. Bitcoin being the first cryptocurrency stands alone while the rest of the coins that were modelled after it are Altcoins. The Link shared was helpful.

I guess some people don’t like when bitcoin is mentioned in the same line as other cryptos hence they try to say it’s not a cryptocurrency.

[Japinat]

I’ve learned that patience pays a reward in the end. While it’s normal to be greedy when opportunities start to be visible, but I realized that not all opportunities are meant to be taken, but some are here to make you lose and regret after. Most particularly in trading where sometimes we fail to assess when is the perfect timing for an entry and when to make the best exit.

Instead, create a calm version of yourself. Don’t be greedy and impulsive, but study and analyze the market well,  before you take decisions that will most likely create a positive outcome.

[rachael9385]

Good day everyone this is my first post here, I’m glad to be amongst great minds.
I’ve read the post about the forum rules and what newbies should know about the forum. Yeah I’ve been roaming the forum since I joined, doing a lot of reading and exploring the informations available here.
It’s really been enlightening for me, there are some things I’ll like to point out ;-

1. The forum is filled with a lot of informations about bitcoin, financial management and some valuable experiences shared by users… doing a research here might even be better than using Google

2. Bitcoin is not only for the rich: I’m in a society where we think anyone who deals in bitcoin or cryptocurrency is wealthy, but of course they are however a normal guy can also invest in bitcoin with just the little money available to you. I used to think only the rich are able to buy bitcoin because of the price and it keeps going up.

3. Yeah I haven’t been long into cryptocurrency and all that surrounds it but I’m getting to understand from some posts and comments here that bitcoin is not a cryptocurrency but a digital asset and it has potential of becoming so much more. So other coins apart from Bitcoin are Cryptos. But it’s still weird to me, cos I used to know all digital coins are cryptocurrency.

4. Bitcoin is not a get rich quick scheme: When I see some people in my locality who are into bitcoin or cryptos, they look rich and some over short periods of time so I’ve had this idea that bitcoin or crypto can get you rich faster, but now I’ve come to realise It takes patience, right knowledge of investing and commitment to really make it in bitcoin.

5. I’ve also learnt that it’s better to invest and keep accumulating bitcoin for a long term than to trade bitcoin in short term. Investing long term has potential for higher or better profits. But it’s traders or people who say they’re traders that fluent wealth all the time maybe they get their money from elsewhere.

6. I’ve seen a lot of posts that want to make me start buying bitcoin, I mean the way guys talk about bitcoin I feel I’ve been missing out a lot. Why didn’t I just pick interest when I first heard of bitcoin.., yeah it’s been ages I should have been a billionaire by now.


I believe there are loads of informations in the forum and anyone willing to study or learn will find it exceedingly useful.

May advice for you is that you continue with this momentum, a lot of newbies get into the forum and after a while they become inconsistent and another flaw with some of them is that they don't read, with this points you have stated you are proving yourself to be different. Trading can be simplified for you if you pay attention to those that are experienced in the forum, you don't have to pay a dime to get quality informations

[Rruchi man]

1. The forum is filled with a lot of informations about bitcoin, financial management and some valuable experiences shared by users… doing a research here might even be better than using Google

Emphasis on "might" because you still need to be careful of the information you get from the forum; not all information from all persons is 100% correct, and you still need to verify some of the things you read here from other sources.

2.Bitcoin is not only for the rich:

The opportunity that anyone can invest in Bitcoin is what makes it attractive because you do not need to wait till you have a large sum of money to be able to invest in it, just like some other investments offer, but with your little amount of money, if you stick to a viable strategy like DCA and stay disciplined, you'll be able to profit from Bitcoin in the long run.

[puloweh555]

1. The forum is filled with a lot of informations about bitcoin, financial management and some valuable experiences shared by users… doing a research here might even be better than using Google

Emphasis on "might" because you still need to be careful of the information you get from the forum; not all information from all persons is 100% correct, and you still need to verify some of the things you read here from other sources.

2.Bitcoin is not only for the rich:

The opportunity that anyone can invest in Bitcoin is what makes it attractive because you do not need to wait till you have a large sum of money to be able to invest in it, just like some other investments offer, but with your little amount of money, if you stick to a viable strategy like DCA and stay disciplined, you'll be able to profit from Bitcoin in the long run.

True. While we often find truths in forums, especially regarding security and other technical matters, don't take them at face value you should seek information elsewhere for comparison. In any case, every piece of information and knowledge should be sought out as much as possible, wherever possible, to broaden your knowledge.

Many beginners are afraid of investing in Bitcoin. They fear it because it's too expensive, meaning only the wealthy can afford it. This is also why many beginners ultimately choose to invest in altcoins because they're cheap. It's undeniable that many beginners misunderstand this. In reality, Bitcoin isn't just for the rich it's for everyone to achieve freedom by buying Bitcoin in small amounts using a DCA strategy.

[imthegreat]

I believe there are loads of informations in the forum and anyone willing to study or learn will find it exceedingly useful.

The forum is truly filled with information that's not available anywhere else online—after all, this is the very forum founded by Satoshi Nakamoto. Very strong technical experts communicate here, and they're very helpful. Yes, there are many fake accounts that are only interested in signup campaigns, but overall, there's a lot of enthusiasm here. I like that I learned about DCA from the forum, and now I always think of it as the best investment method.