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RE: Why Bitcoin is Perfect for Most First-Time Investors

in #bitcoin7 years ago

Speaking as a former poker player, learning by doing is not the right way. If we look back and look which people performed best, it were the people who allocated their time most effectively in terms of splitting your time between studying and playing. In the beginning there were hardly any solid content and people used networks to study quicker. Then some people saw a business posibility and it fitted better with their personal needs in live to share this knowlegde, training sites. Some choose to be exclusive and did private coaching. Then there was a whole influx of people with bad knowlegde who could not capitalise in the market with their skills and used old results to coach people.

Poker also is a far less complex game than a for instance the bitcoin market. Just like in poker there are basics to understand, it starts with language etc. However be skeptical how much you know. Risk assessment is more easy to understand than creating an edge. I would completely loosly estimate for 99.9% the edge in this market is that they are saving their money instead of having an edge over the rest. In poker we can look better at the data and evaluate, however because of changing skill enviroments every day this evaluation has to be taken with a grain of salt. 80% of the people lose, 10% break even. 10% win and of that 10% only 1% can make a living out of it. And then 1% has te possibility to get very wealthy.

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