Quote from: Richbased on September 18, 2024, 08:30:06 PM

Quote from: I_Anime on September 18, 2024, 02:12:32 PM

Quote from: MainIbem on September 18, 2024, 01:05:10 PM

Exactly mate, every investment needs an understanding about it before even doing it, the impression that one mustn't have good knowledge about Bitcoin before investing on it is wrong cause if the investor doesn't know much about Bitcoin, how would they know how or where to buy Bitcoin from, how would the investor know where to save and which is the best place to save Bitcoin, how would the investor even know which strategy is best for accumulating Bitcoin? All those questions are what the person who made that statement should've put into consideration before saying that. Infact before you go into anything that involves money or finance you must have a good knowledge about it so you'll be able to do it properly, for instance if JayJuanGee didn't have good knowledge about Bitcoin investment, how would he have been able to teach people about it and how to go about it the right way but from his post, you'll understand that he's an experienced investor and someone with a deep knowledge about Bitcoin and how to invest and accumulate it over time, that's why you won't see him advising people to go into trading or other risky ways of accumulating Bitcoin, therefore an investor must be very knowledgeable about Bitcoin before investing on it. Saying it a waste of time is misleading cause the investor would be wasting their time when they invest wrongly and end up losing what they're trying to accumulate.

Yeah is good to have a certain knowledge of bitcoin before going into it. Because no one will encourage any one to go into anything they don't have idea about. But the thing is that you guys might be mistaken it when some folk kept saying that some knowledge about is not necessary before going into it . They literally meant that one don't need to possess complex knowledge about bitcoin before going into bitcoin investment, rather one just need the basics knowledge you just mentioned, ( which are how , where to buy bitcoin and where to keep bitcoin etc. ) , one is good to go with just having the basic knowledge first maybe as time goes they can focus on learning more about bitcoin as they are accumulating. Because in this space one thing that play a vital role is knowledge, with that you will be able to secure a bettet investment in a long run. And we have alot Of good folks here that doing great jobs impacting on us still.

I like your explanation mate because no one can even develop interest on something without have a pre knowledge of what they want to get involved in and even though Bitcoin investments don't require much knowledge before starting up but it still requires some understanding before entering because if a beginner starts making investments without any knowledge and in the short run they start to experience the upwards and backwards movement of Bitcoin it can scare them because when the price falls it will look as if it won't return back again and they can panic even when you try to explain to them in such situation but if they knew about those changes at the early stage of their investment it will help them not to be in distress when the price falls. However, if a new investor can know about how to buy and store their Bitcoin in a safe wallet athink it's enough knowledge for them to start investing immediately and learn other things later on. How do you know that a lot of folks are investing in Bitcoin? people who are investing in Bitcoin are very few who summoned courage, the rest are just are just being excited for nothing because they just got little amount of Bitcoins or even may not be hodling.

You are right though, everyone need a little idea before diving into anything but the downtrend of the market doesn't only scare beginner or newbies even some... Usually get scared when there's downtrend. It's not a surprise thing to see newbie panic during downtrend of the market reason because they are still new I mean it's more like a normal thing to them but if someone who has being in the Bitcoin space for sometime panics during the Dip it means the person actually don't understand the space he or she is into ( Bitcoin investment).