Post
Topic
Board Bitcoin Discussion
Merits 1 from 1 user
Re: Knowledge vs hodlings
by
Odohu
on 05/10/2023, 19:21:28 UTC
⭐ Merited by JayJuanGee (1)
The first rule of using a machine is to know how to run it. If you have no idea on how to operate the machine, then you can do nothing. The same thing applies to everything around us, including Bitcoin learning. You need to know the concept of Bitcoin, how it works, what it was made for, what are the pros and cons of Bitcoin. You need to learn every good and bad things about Bitcoin in order to really understand what bitcoin really is.
Surprisingly,  people that tend to hold Bitcoin more are those who understand it from the angle of business with little to no technical knowledge... just the basic knowledge of how to buy and store safely. If you ask them question about the technical aspect of Bitcoin, they will rarely give you a satisfactory answer. Theirs is to buy and secure their fortune because they understand how well Bitcoin will change their lives over certain period of time.


People these days only join Bitcoin for making money. They invest in Bitcoin without knowing nothing about it. They may have heard that they can make money by investing in Bitcoin and that's why they are here. Not all of them, but most of them are. And this is very bad for the Bitcoin ecosystem.
I'm tempted to disagree with you a little because the motivation for the creation of Bitcoin was digital money that will not be controlled by a singe entity. So, if people joined Bitcoin because they feel they can make money from it, then they are very much welcomed and it is good for the Bitcoin ecosystem.

Have you imagined what will become of Bitcoin if fresh money stop flowing into it? We need both the technical guys and investors to make the Bitcoin market liquid and better. We don't have to be emotional about it, without monetary gains, more than half of the people in Bitcoin will disappear.