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Quote from: Issa56 on July 15, 2024, 01:43:50 PM

newbies should do their research first before investing.

Personally, I think newbies should get started rather than wasting time researching.

What I meant by newbies should do some research is that some newbies lack basic knowledge about bitcoin. If they don’t accumulate knowledge about bitcoin before investing, some might end up losing their investment because they don’t know the appropriate wallet to use in storing their bitcoin, they don’t know how to secure their private key, some don’t even know reputable places to get bitcoin from and other basic things which they should know. Some newbies just see some advertisements about bitcoin on social media, and they will pick interest in it, and we all know we are not supposed to trust or follow most of the videos we see on social media because some of them are scammers. That’s why I do recommend that newbies do research before investing.

If they invest first before doing research, before they get to understand something’s, it might already be late. Some newbies might see some Ponzi scheme that will require people to deposit bitcoin on a particular site as an investment. A newbie without knowledge might end up falling for tricks like this.

It is very important for newbies to ask questions from experienced crypto holders and learn to carry out research before buying any cryptocurrency including Bitcoin. It is very necessary so that they will not make avoidable mistakes of not knowing the importance of securing their private keys and understanding that there are many scam projects in the crypto market. Although Bitcoin is safe to buy and hodl but altcoins requires both newbies and experienced people to research any altcoins that they want to buy, to avoid investing in shitcoins. Many new projects are being launched into the market so every investors needs to research first before buying so that they will not be bag holders of dead coins.

Bro I really don't understand what you mean by doing research before investing into alt coin, so that you would not invest in shit coin, so I want to ask you a question, is alt coin even an option? When their is Bitcoin? You really needs to understand that investing your hard earned money on alt coin is like gambling just as shit coin, so stop making it looks as if alt coin is an option or even better, in my own perspective Bitcoin is the only reliable digital asset to invest in, in this crypto space, so it's better you don't even give in to the thought of investing in alt coin.

Concerning doing research, yes it's quite good, but you don't need much knowledge of Bitcoin for you to start your Bitcoin accumulating journey, you can start accumulating it through the DCA accumulating strategy once you know how to go about it, then later seek more knowledge about Bitcoin later on while still accumulating, because knowledge is very much important in life, not just in this crypto space.

I don't know why some people still see altcoin as a must investment, although individuals with their decisions but if am to advise, as far as Bitcoin is still in existence, going for altcoin investment is not a good idea, altcoins are not reliable, there are many projects littered everywhere and the developer's looking for whom to defraud.
I somuch agree with you that investing in altcoin seems to be like gambling because your money can vanish without trace, sometimes I feel that greed and the mindset of making quick money is the main reason why people chose to invest in altcoin and this idea has caused discouragement among investors based on their experience and also make some people to start their investment plans afresh because of loss of funds, I wish people will just concentrate on Bitcoin to continue building their portfolio.
In the knowledge aspect, what every investor need is the basic knowledge of Bitcoin investment to enable the investor know the things to do in terms the best wallet for holding, other concepts of the investment can be learned in the system.

you know most people believe that through this space they can easily get rich quick, which normally triggered their greed which eventually affect the way they think , that is most people still continue to risk their money in various shitcoins. when i was new to this space i also have such crazy mindset thinking that i can easily get rich quick through this space. and that mindset did not do me any good instead i endup losing countless time because at them i was literally focusing on random shitcoins, and it left a scar.

but now i have learned alot of things in this space and one of those lesson is that this is not aplace on can get rich quick, one need to his time to understand how things work, like for instance investing in bitcoin is one of the life changing thing have done in this space, and anytime i look how far have gone it always put a big smile on my face, though i still have long way to go in my accumulation. but i believe as time goes on with consistency i will surely hit my accumulation goal (my fuck off status).