Quote from: SuperBitMan on Today at 01:16:02 PM

Quote from: Stablexcoin on Today at 11:18:32 AM

Quote from: boyptc on Today at 10:05:32 AM

Yeah, that's what I am saying about basic knowledge. Understanding that Bitcoin is moving quickly and prices vary from time to time.

It's true that they can buy and just understand it later. But in general speaking about investing, someone shouldn't get into an investment that they don't totally understand even the basics of it.

At least a little understanding is very necessary because they cant start investing if they do not know the safest exchange and how to buy it form them and send it to their wallet. The process of buying and storing should be the most important thing they learn fast then how to manage their investment and other knowledge can be learned later. It's just like going to cultivate without any tool, while it's essential to have a tool and know how to use it manually before thinking of buying bigger engines that can facilitate and modify the process.

I see any other knowledge that we ought to learn after investing as sustainable knowledge. That is what triggers us to hold on to our investment as long as we want to.

You are right when it comes to bitcoin investment one needs to know the basics of investment which is how to buy and store in your Bitcoin on your wallet.
However newbies should understand that after knowing this and have started investing it is very important to know about this thing very fast so as to avoid lost which is.
1. Securing your Bitcoin wallet.
After you most have started investing you need to know how to protect your wallet because if you don't protect your wallet you may lose all your Bitcoin to scammers.
I have a friend when he knew about Bitcoin I taught him how to create wallet and buy Bitcoin at first and he started investing I told him things he needs to do to protect his wallet but he didn't take it serious and that was how he lost all his Bitcoin to a scammer who hacked into his wallet.
A lot of newbies about leaning how to create a wallet and buy Bitcoin they don't bother to secure there Bitcoin wallet or even read about protecting there wallet they feel everything is all good so please after starting your accumulation journey learn how to protect your Bitcoin wallet immediately don't waste time in that.

Sure people should try not to be stupid, since no one should want to lose any money, even if it is ONLY $10.. yet if they start with a small amount, then their security should be in line with the amount invested, and realizing that if they hold coin with a third party then there are various kinds of risk but also that if the bitcoin gets stolen (like through a hacked account), then it is likely that the transaction is irreversible if the hacker takes the bitcoin, even if the bitcoin is with a third party.. At the same time, holding private wallets can also be complicated, including if the bitcoin are held on a hot wallet versus a cold wallet.

These matters of the various kinds of wallets need not be learned prior to getting started, since getting started is one of the most important things. and yeah, there is a difference between the incomes of people in regards to how much security that they might feel that they need based on their income and/or their other resources, so there is a difference between investing $10, versus $100, versus $10k versus $500k or some other amounts...and yeah, sometimes there needs to be extra security to account for potential changes in value.. since for example, even in 2020/2021, there might have been some guys who might have been somewhat lax in their security if they had $8k invested or in a wallet, but then after the BTC price went from $7k to more than $60k their $8k might have all of a sudden turned into $70k-ish.. and similarly in 2017 (although that is further back in history, when $5k to $8k might have been in some wallets and the BTC price was around $250-ish in mid to late 2015 - yet by late 2017, the BTC price went up nearly 78x, so that $5k to $8k would have turned into $390k to $624k, and so that would have been an even more extreme example how the security should have been more important, since maybe a person might have been o.k. to keep $5k to $8k on their phone.. even though that seemed a bit much, but then if the amount turned into $390k to $624k.. then they might have become quite nervous since maybe their whole networth might have been less than $50k and then all of a sudden their whole networth goes up 8x to 10x or more and much of their value is on their phone, which would not have had been a very good and/or secure place to be. .even though I think some folks did find themselves in those kinds of situations in 2017.. and their security did not keep up with the size/value appreciation of their BTC holdings.

Quote from: Ruttoshi on Today at 06:00:33 PM

It is easy to secure your bitcoin wallet and that's why you should go for a hardware wallet that is open source, so that keeping your seed phrase safe from third party and knowing your pin will only be the challenge since it is air gapped.

Personally, I believe it is not easy to be your own bank. Sure there are some aspects that are easy and user-friendly, but it still can be complicated to manage keys and perhaps keep the backup keys separate from the wallet, which is not always easy.. just think about if a person has an apartment or a house and then if the apartment/house burns down.. the person could be fucked out of all of his wealth, and there are risks to leave in a safety deposit box since sometimes 3rd parties can get ahold of that information.. . and sure maybe sometimes if a person is moving from one location to another there can be vulnerabilities too.. so I am not claiming to know all of the solutions or how to figure out ways to make sure seeds and/or back ups are both secure but also not overly complicated since sometimes normies will overly complicate their set up (retrieval process), so when it comes time to recover, either they are not able to remember exactly or it is even worse if they are expecting an heir or some other intended recipient to figure out the puzzle (the set up). ..

or even for an intended recipient (heir) to recognize the value that is there or for an intended heir or recipient to NOT get access prior to the intended time... and not all people are honest, trustworthy or even able to resist the temptation of getting access to something prior to it rightfully getting transferred over to them.. and maybe even some bitcoiners might have no or few persons that he might consider to be worthy of receiving his bitcoin.. so there can be dilemmas regarding both management and also figuring out whether and/or how to transfer.. including that death and/or incapacitation could come at unexpected times and even there could be questions about whether incapacitation might end up being temporary or permanent. I doubt we can call these easy questions, even though surely maybe easier for some folks as compared with other folks... I know some folks that I somewhat trust when I am around and helping to guide them, but if left to their own devices, who knows?