Investment Become Gambling

[ZeroVinsonN]

Wasting time on acquiring more knowledge before investing is just procrastination and we doing that we are wasting much time and a lot of opportunities from the market. No need to wait and seek knowledge before investing we can start as soon as possible because there isn’t need for much knowledge before starting, knowledge can come along the way.
The moment we have the  availability of our discretionary income then we can start as soon as possible. Basic knowledge is absolutely enough to start then along the way we can increase our knowledge. Prioritizing knowledge over investment shows reluctance and that not a good mindset.

It's more of a misplaced priority, they believe that without the knowledge they will not be able to invest and that's what pushes them to want to acquire knowledge first but the simple truth is that for a newbie to start accumulating bitcoin they don't need to know everything about bitcoin, starting first is the smart way to go, the knowledge can be gotten as you invest using your discretionary income, with time the person will know what they need to know and their investment would have already grown to a good place by then.

Even the holy book said "my people perish because of lack of knowledge" It signifies ignorance and that's what dealing with many newbies cause if they're aware that they don't need to spend more time studying but get their discretionary funds ready to start accumulating they would've started buying already then understand the investment better in the long run but out of ignorance many of them spend their time studying as if Bitcoin was some engineering project that needed to be studied properly before embarking on it. It's not like having knowledge about Bitcoin is not good but it's a volatile asset that's unpredictable so you have to buy at any opportunity before the price goes higher, but some spend time studying it and miss those opportunities.

Even the idea of the price getting higher isn't a bad thing, investor's after all want bitcoin's price to go higher and if the upward trend is consistent and happens more than the downward trend then it doesn't matter when a person buys, the issue is with people willingly delaying their investment and not for their lack of discretionary income but because they feel they don't know enough yet to be able to HODL bitcoin, that's the misunderstanding that has ruined alot of potential investors, they delay until they lose the interest to invest completely.

[Bigjoe33]

If we want good results from Bitcoin, we must develop a long-term mindset. Short-term Bitcoin trading is like gambling, and nothing good can ever be expected from it. If we want to build a good financial foundation for the future, we must be prepared to hold on for the long term. We will never achieve anything good by trading in the short term, here we will most often face losses rather than gains. The price moves very volatilely, which is impossible to predict, so it is also very impossible to profit from it in the short term.

The prices in the market are unstable, it's very volatile and we can make huge profits with our own pattern. Our mindset is everything in the market. If we're planning to succeed in the market, we start to thinking positively in the market, knowing our principles and abiding by it. Although it would take quite a huge disciplinary action to stay up and going in the market but we can pass this hurdle and become someone great, a trader that his reputation precedes him already in the market.

I don't really get your points perfectly @ Plutomanian. Sure the price is unstable and can't assure us anything. But you spoke of making huge profits with our own pattern. The question is, which pattern are you referring to. And at the end of your statement, you mentioned that a trader that his reputation precedes him lready in the market. Am really confused.

If we want to make profit, then we must subscribe to the long term HODL pattern, that will give us enough time to buy more BTC, and as we HODL, just as usual, as the market price increases, so we make more gains. Those who are traders, who sell off with a little jump in price won't be compared to those who had patiently accumulated Bitcoin for years with a long time investment plan

[GIF-JOBS]

Wasting time on acquiring more knowledge before investing is just procrastination and we doing that we are wasting much time and a lot of opportunities from the market. No need to wait and seek knowledge before investing we can start as soon as possible because there isn’t need for much knowledge before starting, knowledge can come along the way.
The moment we have the  availability of our discretionary income then we can start as soon as possible. Basic knowledge is absolutely enough to start then along the way we can increase our knowledge. Prioritizing knowledge over investment shows reluctance and that not a good mindset.

It's more of a misplaced priority, they believe that without the knowledge they will not be able to invest and that's what pushes them to want to acquire knowledge first but the simple truth is that for a newbie to start accumulating bitcoin they don't need to know everything about bitcoin, starting first is the smart way to go, the knowledge can be gotten as you invest using your discretionary income, with time the person will know what they need to know and their investment would have already grown to a good place by then.

Even the holy book said "my people perish because of lack of knowledge" It signifies ignorance and that's what dealing with many newbies cause if they're aware that they don't need to spend more time studying but get their discretionary funds ready to start accumulating they would've started buying already then understand the investment better in the long run but out of ignorance many of them spend their time studying as if Bitcoin was some engineering project that needed to be studied properly before embarking on it. It's not like having knowledge about Bitcoin is not good but it's a volatile asset that's unpredictable so you have to buy at any opportunity before the price goes higher, but some spend time studying it and miss those opportunities.

Even the idea of the price getting higher isn't a bad thing, investor's after all want bitcoin's price to go higher and if the upward trend is consistent and happens more than the downward trend then it doesn't matter when a person buys, the issue is with people willingly delaying their investment and not for their lack of discretionary income but because they feel they don't know enough yet to be able to HODL bitcoin, that's the misunderstanding that has ruined alot of potential investors, they delay until they lose the interest to invest completely.

To be successful in Bitcoin, you have to understand everything completely and then start, there is no such constraint, because delay is always bad, instead of doing this, it is necessary to start investing only after gaining general knowledge, while investing, we can actually know Bitcoin more deeply. So it is necessary to start well from a normal level, of course, one should not invest blindly, and also should not decide to start investing after gaining all the knowledge, rather it is better to start with common knowledge.

[ejikeme24]

To be successful in Bitcoin, you have to understand everything completely and then start, there is no such constraint, because delay is always bad, instead of doing this, it is necessary to start investing only after gaining general knowledge, while investing, we can actually know Bitcoin more deeply. So it is necessary to start well from a normal level, of course, one should not invest blindly, and also should not decide to start investing after gaining all the knowledge, rather it is better to start with common knowledge.

You really think is necessary to stay back until you have the complete knowledge about Bitcoin before getting started? I'm not sure about that, moreover there's no way you would understand everything completely without getting started, and even when you have complete knowledge about Bitcoin investment yet there's guarantee that you would become successful because you can't predict how the price is going to look like in years to come, the volatile nature of Bitcoin is the reason why it remains unpredictable until now. the only advice I could give to anyone who is interested to invest in bitcoin is to focus on the long term and just pray for a better future because there's no certainty that we would be successful at the end of our investment.

[Joeboy]

The prices in the market are unstable, it's very volatile and we can make huge profits with our own pattern. Our mindset is everything in the market. If we're planning to succeed in the market, we start to thinking positively in the market, knowing our principles and abiding by it. Although it would take quite a huge disciplinary action to stay up and going in the market but we can pass this hurdle and become someone great, a trader that his reputation precedes him already in the market.

Trading your Bitcoin isn't a wise decision at all...If you are still stuck with the traders mindset even after all the discussion being said here, then I think it is high time  you correct that mentality because trading mostly slow down the pace of an individual bitcoin journey.. And so, trading isn't the right way of having a solid portfolio, trading will instead stress you and make you begin to monitor the price movement just to determine the perfect time to sell or to buy...

[ruykeri]

The prices in the market are unstable, it's very volatile and we can make huge profits with our own pattern. Our mindset is everything in the market. If we're planning to succeed in the market, we start to thinking positively in the market, knowing our principles and abiding by it. Although it would take quite a huge disciplinary action to stay up and going in the market but we can pass this hurdle and become someone great, a trader that his reputation precedes him already in the market.

Trading your Bitcoin isn't a wise decision at all...If you are still stuck with the traders mindset even after all the discussion being said here, then I think it is high time  you correct that mentality because trading mostly slow down the pace of an individual bitcoin journey.. And so, trading isn't the right way of having a solid portfolio, trading will instead stress you and make you begin to monitor the price movement just to determine the perfect time to sell or to buy...

You are right. Bitcoin is not for trading. It is a powerful digital asset that can be hold for a long time and has proven its authenticity and trust over time. Bitcoin trading is basically like gambling. Because the short-term price movement of Bitcoin is unpredictable. The future profit that can be made by holding Bitcoin for a long time can be understood by looking at the past price. As Bitcoin becomes more popular around the world, its demand will also increase. But since the supply of Bitcoin is fixed, it is understandable that its price will increase over time. But people basically make wrong decisions and distrust only because of the volatility of its price. Again, many people who do short-term trading and do market timing by predicting price movements also suffer a lot of losses. Therefore, investing in Bitcoin for the long term increases the chances of success, and we should keep our mindset in that direction.

[ZeroVinsonN]

Wasting time on acquiring more knowledge before investing is just procrastination and we doing that we are wasting much time and a lot of opportunities from the market. No need to wait and seek knowledge before investing we can start as soon as possible because there isn’t need for much knowledge before starting, knowledge can come along the way.
The moment we have the  availability of our discretionary income then we can start as soon as possible. Basic knowledge is absolutely enough to start then along the way we can increase our knowledge. Prioritizing knowledge over investment shows reluctance and that not a good mindset.

It's more of a misplaced priority, they believe that without the knowledge they will not be able to invest and that's what pushes them to want to acquire knowledge first but the simple truth is that for a newbie to start accumulating bitcoin they don't need to know everything about bitcoin, starting first is the smart way to go, the knowledge can be gotten as you invest using your discretionary income, with time the person will know what they need to know and their investment would have already grown to a good place by then.

Even the holy book said "my people perish because of lack of knowledge" It signifies ignorance and that's what dealing with many newbies cause if they're aware that they don't need to spend more time studying but get their discretionary funds ready to start accumulating they would've started buying already then understand the investment better in the long run but out of ignorance many of them spend their time studying as if Bitcoin was some engineering project that needed to be studied properly before embarking on it. It's not like having knowledge about Bitcoin is not good but it's a volatile asset that's unpredictable so you have to buy at any opportunity before the price goes higher, but some spend time studying it and miss those opportunities.

Even the idea of the price getting higher isn't a bad thing, investor's after all want bitcoin's price to go higher and if the upward trend is consistent and happens more than the downward trend then it doesn't matter when a person buys, the issue is with people willingly delaying their investment and not for their lack of discretionary income but because they feel they don't know enough yet to be able to HODL bitcoin, that's the misunderstanding that has ruined alot of potential investors, they delay until they lose the interest to invest completely.

To be successful in Bitcoin, you have to understand everything completely and then start, there is no such constraint, because delay is always bad, instead of doing this, it is necessary to start investing only after gaining general knowledge, while investing, we can actually know Bitcoin more deeply. So it is necessary to start well from a normal level, of course, one should not invest blindly, and also should not decide to start investing after gaining all the knowledge, rather it is better to start with common knowledge.

What would you consider common knowledge or general knowledge as you said, sometimes we unintentionally use words that in certain context can be considered vague depending on who's interpreting it, this is because you and I might have very different things we consider as general bitcoin knowledge.
The different words can be synonymous but sometimes they can also mean very different things, like how I can say that every basic bitcoin knowledge are general knowledge but not all general bitcoin knowledge are basic knowledge, like how knowing the total amount of bitcoin that will ever be in circulation can be called general knowledge but isn't needed to be able to start investing in bitcoin.

[ProsperBTC001]

At this point I guess he has learnt his lessons, yeah his plan was to invest for long-term, but because of lack of discipline, he allowed short-term emotions to replace long-term strategy.  He bought because of fear of missing out and sold out of panic and fear.
Bitcoin investment requires patience. One, because of it's volatility a lot of people make mistakes due to  lack of proper knowledge in Bitcoin investment.  Bitcoin is mainly for long term.
Risking money without a proper plan, allowing your emotions control your decision and chasing for quick profit will cause losses because his not focused on using the investment strategies.
However if he had applied a proper use of risk management and had constantly invested without being driven by emotions. He will make
Good profit. I'm happy he gained more experience.

[Diamond Bitcoin]

When we plan our investments without researching and long-term goals and just hope for quick profits, then investing becomes a gamble. We buy without researching.
If the price suddenly increases, we should buy on FOMO. Excessive leverage cannot be used. We cannot bet on short-term price fluctuations. On the other hand, regular savings-based investing (DCA), understanding risk, and following a long-term plan are usually investments, not gambling. Investing without a plan can turn into gambling. So everyone should keep an eye on that.

[Pipswizard]

Most people refuse to take advice until they've personally suffered the consequences experience tends to be the most effective teacher. That said, consuming content from social media platforms like YouTube or X isn't inherently wrong the real problem is when people act on what they hear without verifying or deepening their understanding of it.

When it comes to managing one's finances in an investment setting, I believe financial knowledge helps you identify the right entry points, while behavioral discipline determines when you should hold back. The two work hand in hand neglecting either one is what turns a well intentioned investment into a gamble.

As for your friend, I wouldn't say he simply learned a lesson. What he went through was an experience, and that experience has now given him valuable insight. What he does with it is entirely up to him. At the end of the day, it was his choice and the beauty of the market is that it consistently rewards those who are patient enough to let their investment grow.