What do you know about bitcoin?

[suzanne5223]

Firstly, you can not know everything about Bitcoin in a year, and there's always something to learn about Bitcoin every year due to technological advancements.
Second, there's a lot of knowledge, information, and discussion on this forum if you can search through the forum for the niche you want to know more about.
Thirdly, most of the information you'll see about Bitcoin on YouTube, website, Twitter and other social media account can be misinformation.

[Asiska02]

It's fine to come across the bitcoin on random social media post but once the person thinks that they have to add this into their portfolio needs to do their research on their own, which can be reading simple article about bitcoin or end up registering on bitcointalk but they need to make the effort but people who doesn't do that are in a hurry to make quick money but always end up on the other side and blame bitcoin for their ignorance.

Bitcoin is explicitly explained and anyone who is still finding it difficult will have to go and have the knowledge of it. Bitcoin is not a rocket science, and as long as you’re not going to see it as a get rich quick scheme, you should follow the process gradually and become better at keeping and maintain your Bitcoin portfolio in the long run. We have many places one can go to learn about bitcoin but having the best resource tool will help you understand and be able to manage your journey in bitcoin better. Don’t be an ignorant in this stage, stand up and act on what you want by seeking the best of knowledge of it.

[HelliumZ]

The first thing I learned about Bitcoin is that it is a completely decentralized currency and is not controlled by any third party. Another thing I learned later is that it is the opposite of paper money, especially paper money is affected by inflation, while Bitcoin has no inflation. Printing money is unlimited supply, whereas Bitcoin has a limited supply, i.e. 21 million. Another thing is that over time, investing in Bitcoin can yield much more profit, which is much more profitable than keeping money in the bank.

[uchegod-21]

The secret to Bitcoin knowledge is inherently evident in this forum and this is a good place to learn that is needed, because not many out there know how it functions, even if they are aware it is a currency or digital gold or great store of value.
Bitcoin follows a process of implementation and technicality and just hearing about it, without being aware of its current environment is a taboo to begin with.

To be honest, this forum has all the  kinds of information you can think of, there are scammers here too spreading misleading information and there are still good people making sure that scammers are exposed and newbies do not fall victim to these scammers. While learning alot about bitcoin from this forum, no member of these forum should not be quick to act on any information presented here. Still make your findings and if the information was presented to your privately, bring it to the the public so other users here will scrutinise the information before you take the next step. Scammers are everywhere, never should anyone be too relaxed here.

Apart from scammers, some members here unintentionally spread misleading information they know very little or nothing about. That is why this forum is strongly against newbies who teach what they do not have sufficient knowledge in. There are lots of information flying here and there in this forum.  Study well so you pick only the authentic ones.

[Findingnemo]

It's fine to come across the bitcoin on random social media post but once the person thinks that they have to add this into their portfolio needs to do their research on their own, which can be reading simple article about bitcoin or end up registering on bitcointalk but they need to make the effort but people who doesn't do that are in a hurry to make quick money but always end up on the other side and blame bitcoin for their ignorance.

Bitcoin is explicitly explained and anyone who is still finding it difficult will have to go and have the knowledge of it. Bitcoin is not a rocket science, and as long as you’re not going to see it as a get rich quick scheme, you should follow the process gradually and become better at keeping and maintain your Bitcoin portfolio in the long run. We have many places one can go to learn about bitcoin but having the best resource tool will help you understand and be able to manage your journey in bitcoin better. Don’t be an ignorant in this stage, stand up and act on what you want by seeking the best of knowledge of it.

I don't expect everyone to understand the bitcoin stratight away, it will take ages to understand it completely not because it's a rocket sceience but it is completely alien to what we were using throughout or life so it will take time for sure but my point was take steps to know more about it rather than just assuming everything they read is true.

[The Cryptovator]

The question "what do you know about bitcoin" still stands cuz I believe bitcoin is about more that I have. no idea and I'm willing to learn so help me with that secret idea about bitcoin. 

Very simple, Bitcoin is a decentralised cryptocurrency that could be transferred worldwide without any third-party involvement. This is what we should know about Bitcoin, though we don't know much about the technical part. Everyone won't know the technical part but should know how it does work and how the price works as well. Shouldn't make everything so complicated at all.

The idea was secret before it was deployed on the blockchain. After that everything is public; each transaction is traceable worldwide. The goal also makes clear why Bitcoin was created. Besides that, we also consider Bitcoin as an investment asset and making money from Bitcoin investment. Also we have to learn about Bitcoin wallets, which means non-custodial wallets. Otherwise you can't secure your Bitcoin. Spend a little bit more time on the forum, so you can learn day by day.

[Asiska02]

~

I don't expect everyone to understand the bitcoin stratight away, it will take ages to understand it completely not because it's a rocket sceience but it is completely alien to what we were using throughout or life so it will take time for sure but my point was take steps to know more about it rather than just assuming everything they read is true.

The fact that many people don’t want to wait for too long to learn through the process, becoming better at it and just want to focus on results will take a whole lot of time, and making continuous mistakes will be normal for those that have shown interest in bitcoin and having this mindset. Just like you said, it is a gradual process until everyone gets to understand it better and improve themselves around this technology. In the long term, the gradual process of learning and becoming better at it will be the best thing we’ve ever done instead of rushing and forcing ourselves to have understood it when in the real sense we haven’t yet.

[HONDACD125]

Firstly, you can not know everything about Bitcoin in a year, and there's always something to learn about Bitcoin every year due to technological advancements.
Second, there's a lot of knowledge, information, and discussion on this forum if you can search through the forum for the niche you want to know more about.
Thirdly, most of the information you'll see about Bitcoin on YouTube, website, Twitter and other social media account can be misinformation.

You are right about the misinformation being spread all around the internet by people who call themselves experts but actually know nothing about the market and they only make guesses or copy-paste information from other sources and call it their own. So many content creators on YouTube and Twitter are sharing fabricated information all the time only for their own benefit because they want to gain followers and subscribers and they don't really care about their followers, whether others lose money or get the wrong information, they still share it without any warnings or anything.

Forums like this one are probably the best source of information at the moment for cryptocurrencies because we basically discuss everything, and there are so many people who share their views and opinions about whatever is being discussed, and that allows us to evaluate every response and then reach a conclusion whether a certain information is actually correct or not. This is why we should always make sure that whatever we read or hear anywhere over the internet, we should always double-check, or ask the community about it to get more information about it.

[Cookdata]

Firstly, you can not know everything about Bitcoin in a year, and there's always something to learn about Bitcoin every year due to technological advancements.
Second, there's a lot of knowledge, information, and discussion on this forum if you can search through the forum for the niche you want to know more about.
Thirdly, most of the information you'll see about Bitcoin on YouTube, website, Twitter and other social media account can be misinformation.

Knowing about Bitcoin is subjective, if I can send Bitcoin and receive Bitcoin, know how to properly use coin control, hide my private keys and my seed phrase and get a cold storage wallet, I think with this I have enough understanding of Bitcoin because there is nothing absolutely new that I need to learn again except for anything new in the future like how to avoid quantum threats in the future, that's all you need to know about Bitcoin my friend.

If you ever need to learn about technical knowledge, that's good but that alone you can't learn everything in a year, not in 2 years but you can be an expert within that period of time. Reason is that Bitcoin is too broad, as you go deep, the more it becomes like a rabbit hole where things expand. When there is need to learn what you want, the internet is there to search, we have much more that has been discussed than you can search, this forum alone has lots of questions and answers and shorts.

[Kelvinid]

That bitcoin could certainly led us into a more secured future. Bitcoin can be a profitable retirement, and if bitcoin continues to increase its price for good and will stay for good, I think early investors will definitely gain high advantage once they decide to sell their coins when retirement comes.

Another thing is, bitcoin could save us against inflation. If fiat is nonetheless becomes irrelevant when inflation hits, its the different thing with bitcoin. It's a hedge against inflation, and anyone wo chose to hold bitcoin will always have a weapon even against hyperinflation.

[Rustam Meraj]

I believe that learning should be most useful way, and that is to forget all about noise of trading and fact that Bitcoin is no permission site in which no bank can lock your money. Though one must be careful, it is important to see that Bitcoin network has never been hacked, as rule, it is trading sites or phones that are weak, and most useful step to take is to use physical wallet. On final note, this is what is really great abo Bitcoin it is fair and global money that has a small amount of 21 million coins, which means that it is long term way to protect your work in world where you can print or copy other things.

[Findingnemo]

~

I don't expect everyone to understand the bitcoin stratight away, it will take ages to understand it completely not because it's a rocket sceience but it is completely alien to what we were using throughout or life so it will take time for sure but my point was take steps to know more about it rather than just assuming everything they read is true.

The fact that many people don’t want to wait for too long to learn through the process, becoming better at it and just want to focus on results will take a whole lot of time, and making continuous mistakes will be normal for those that have shown interest in bitcoin and having this mindset. Just like you said, it is a gradual process until everyone gets to understand it better and improve themselves around this technology. In the long term, the gradual process of learning and becoming better at it will be the best thing we’ve ever done instead of rushing and forcing ourselves to have understood it when in the real sense we haven’t yet.

To be honest I came to bitcoin just for the profits and also I had the curiosity to learn about it but this forum shaped me into something different over these years. Now I just only want to hold bitcoin because it is the only crypto that is truly centralized and it took me years to get the real concept of bitcoin as well.

[nemesis_incarnate]

OP, you should go with a more.. nuanced question. There are many fields to BTC which can be interpreted differently, and you should give us something to go with because clearly, people out there can talk a million words regarding BTC, both about its tech side and the other side

[Zoomic]

Firstly, you can not know everything about Bitcoin in a year, and there's always something to learn about Bitcoin every year due to technological advancements.
Second, there's a lot of knowledge, information, and discussion on this forum if you can search through the forum for the niche you want to know more about.
Thirdly, most of the information you'll see about Bitcoin on YouTube, website, Twitter and other social media account can be misinformation.

There are a lot of places to check out information about bitcoin. When I was new, I used google search and the forum. Google led me to some good websites, and sometime forum users users share links to where you can learn about bitcoin. But as you have advised Op, they need to be more patient and make one step at a time.
Answering Op's question, what I learnt about bitcoin is that, bitcoin rewards only patient people on the long run. If you are experienced and has money, you can go for quick results like trading futures.

[suzanne5223]

Firstly, you can not know everything about Bitcoin in a year, and there's always something to learn about Bitcoin every year due to technological advancements.
Second, there's a lot of knowledge, information, and discussion on this forum if you can search through the forum for the niche you want to know more about.
Thirdly, most of the information you'll see about Bitcoin on YouTube, website, Twitter and other social media account can be misinformation.

Knowing about Bitcoin is subjective, if I can send Bitcoin and receive Bitcoin, know how to properly use coin control, hide my private keys and my seed phrase and get a cold storage wallet, I think with this I have enough understanding of Bitcoin because there is nothing absolutely new that I need to learn again except for anything new in the future like how to avoid quantum threats in the future, that's all you need to know about Bitcoin my friend.

Knowing Bitcoin is not subjective, and I believe it is something that is important for everyone that want to thrive in the cryptocurrency space. Being successful in Bitcoin is more than just knowing how to send, receive, use coin control, secure private keys/seed phrase, and use a cold storage wallet, especially now that BTC holders are among the most targeted of online and physical theft. Besides, new online threats are developed almost every day, making the use of BTC wallets vulnerable to attack.
Therefore, there's also a need to know the new developments and strategies used by online thieves.

Firstly, you can not know everything about Bitcoin in a year, and there's always something to learn about Bitcoin every year due to technological advancements.
Second, there's a lot of knowledge, information, and discussion on this forum if you can search through the forum for the niche you want to know more about.
Thirdly, most of the information you'll see about Bitcoin on YouTube, website, Twitter and other social media account can be misinformation.

There are a lot of places to check out information about bitcoin. When I was new, I used google search and the forum. Google led me to some good websites, and sometime forum users users share links to where you can learn about bitcoin. But as you have advised Op, they need to be more patient and make one step at a time.

Yes, but there are a lot of websites that are full of misinformation, and they are misleading the newbie into doom because what they care about is the advert they are going to get and how to monetize their website, so it is advisable for newbies to always check the forum about a certain website's information genuinely before relying on the information shared.
Do you know how many website that's giving good reviews for scammed crypto casinos that we know on this forum as we speak?

[Maslate]

Bitcoin is not just all about creating profits and accumulating wealth, but its the technology behind that surpasses other forms of technology, that is why Satoshi has never fail us with its brilliant idea of inventing bitcoin.

However, people tend to be more greedy and only see bitcoin as a source of income, not as a valuable technology that everyone should be grateful for. And for that, they forgot to value the original perspective of bitcoin which is to use it as a currency that can be an alternative to fiat, because they stick to the concept that bitcoin is a profitable tool for investment.

[Vaculin]

I invest in Bitcoin based on what I know about it, because Bitcoin eliminates future economic deprivation, Bitcoin is free, Bitcoin is the most silent, but there are many other reasons why investing in Bitcoin is a good idea based on all these reasons. And a person holding Bitcoin for the future has a chance to benefit if he holds Bitcoin for the future. Because Bitcoin is most compatible with long-term investment, where an investor will definitely benefit if he invests regularly and holds it for a long time.
So Bitcoin is suitable for investment in all aspects, you will definitely be able to know the correct information about Bitcoin.

And one can only understand bitcoin well if he decides to enter bitcoin investment and experience itself the roller coaster ride of bitcoin and its price fluctuations that seem no ending. But even though, still we end up getting hooked of its nature, its current position and the future it will offer us if we keep hodling patiently.

Bitcoin may seem too complex for beginners, but later on it becomes a piece of cake for those who personally navigate bitcoin as an investment too. And not only its promising today, but it could be more amazing in the next years to come, of course with volatility all along.

[JiiBs]

Firstly, you can not know everything about Bitcoin in a year, and there's always something to learn about Bitcoin every year due to technological advancements.

One thing about knowledge;

When you think you know everything, then you would realize that you know nothing. There is always going to so much that every individual wouldn’t know about Bitcoin, it doesn’t matter how long you’ve being in on it but, you certainly wouldn’t know so much in a year. The good news is, you don’t need to know all there is about it, you just need to know just as much to transact safely in Bitcoin and keep your Bitcoin assets secured.

[Alonso_]

You can get some information about bitcoin from online if that is what you’re confused about, because there is not so much you will have to know about bitcoin, you don’t have to know everything about bitcoin before you start investing in bitcoin, probably if you’re able to know how to buy and hold bitcoin, then you have money most likely a discretionary income that you can start buying and investing in bitcoin which is something that is quite common you can start buying and investing in bitcoin as soon as you have a money to buy.

Mentioning about bitcoin ads I can also agree with you that I’ve not seen any advertisements about bitcoin online, which tells you that bitcoin doesn’t require any ads anymore, instead you should be more interested in buying and holding bitcoin, because majority of the people in the world knows about bitcoin or they must have heard about bitcoin somewhere.

[MusaMohamed]

You can get some information about bitcoin from online if that is what you’re confused about, because there is not so much you will have to know about bitcoin, you don’t have to know everything about bitcoin before you start investing in bitcoin, probably if you’re able to know how to buy and hold bitcoin, then you have money most likely a discretionary income that you can start buying and investing in bitcoin which is something that is quite common you can start buying and investing in bitcoin as soon as you have a money to buy.

The world has changed a lot with Internet massive adoption in two or three latest decades and nowadays, with a device and connection to Internet, people can very quickly and easily find many educational resources in many forms like websites, blogs, documents, podcasts, videos for their learning. The magic is they can access to such helpful and insightful resources free that opens good opportunity of learning not only about Bitcoin.

The key is be able to filter resources and know which ones are accurate in fundamental, technical and practical knowledge and advice for efficient learning. It's dangerous to fall into bad resources, learn from them and believe you are learning right knowledge.

Mastering Bitcoin.
Learn me a Bitcoin.
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