Quote from: Synchronice on Today at 07:40:40 AM

Quote from: alastantiger on June 29, 2023, 07:55:21 PM

I attended a business seminar where a facilitator a renowned professor, and Entrepreneur shared a story on how he missed out on investing in a small fintech start two years ago which as at today is worth $500 million. He said the team had approached him to make an a investment in the start but because he did not understand how the were going to make money since he didn't invest the $100k he wanted to write them. Today, he would have been $7.5million richer had he invested.

They say do not invest in what you do not understand which was largely the principle the speaker adhered to but what if despite not immediately understanding the business model and its profit making model yet your business instinct pushing you to invest. What should you do? Listen to the former or follow your instincts?

That do not invest if you don't understand is good and bad advice at the same time. A lot of people have invested in bitcoin without understanding what it is but they all have succeeded. Definitely, Bitcoin is an innovation and there is just no chance to miss profit by investing in it, that really was the case back in 2016. But I agree with that one, it's never bad to truly understand what you are investing in but one should never miss opportunities like Bitcoin and Ethereum had and still have.

It's really hard to give away really beneficial advice because future is so unpredictable. I would really be upset if someone has told me to not invest in Bitcoin because I don't know what it actually is. Sometimes instincts win.

I don't consider that bad advice. People who invest in bitcoin but don't understand what it is, but they all succeed because luck chose them. And are you sure that luck will come to you? Meanwhile, the people who are dumping bitcoin and losing money investing in it mostly don't understand bitcoin, and do you think instinct is helping them or making them worse? Even if we are knowledgeable, there is no guarantee that we will succeed when investing in bitcoin, let alone that we have no knowledge and just instinctively invest.