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Symmetrick

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Quote from: bitmover on December 03, 2021, 10:19:42 AM

In cryptocurrency, many people seek to get rich in a few months/years. This happened in the past, and it may happen again in the future. But the risks are big, and it is very likely that many people will lose a lot of money seeking for quick gains.

It is always important to think long term. In 5 years, btc may be 10x from now. Are you willing to wait 5 years?

Well, in cryptocurrency it is really possible to get rich even in a year and a half, I personally know such an example in the person of my friend. For 5 years, bitcoin will bring dividends and people who come to cryptocurrency with a couple of thousand dollars, they will of course say that this is not serious.

- "Wait 5 years to get a profit of $17 000 from 2-3 thousand dollars? Are you serious? But this is nonsense." And they think so, because they have read a million stories on the Internet about super earnings on Shitcoins in a few months. A recent example is Shiba.

But people with more or less serious money who have invested in bitcoin will wait 5 years without problems.

bitmover

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Non-custodial BTC Wallet

Quote from: Symmetrick on December 02, 2021, 09:05:37 AM

In cryptocurrency, all quick options to get rich lead to quick options to lose everything. Remember this. If you start trading, then only in the spot, only on your own.

When I read things like this, I always remember this famous Warren buffet quote: "Nobody wants to get rich slow"

In cryptocurrency, many people seek to get rich in a few months/years. This happened in the past, and it may happen again in the future. But the risks are big, and it is very likely that many people will lose a lot of money seeking for quick gains.

It is always important to think long term. In 5 years, btc may be 10x from now. Are you willing to wait 5 years?

Findingnemo

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Bitcoin = Financial freedom

First of all I like the story very much, its a life lesson portrayed and compared in an interesting way and I hope many newbies will look at this and realize what they are actually doing due to their immense desire, maybe I can tell this story to my kids as well when I have one. Wink

Know your strength and weakness first because we want to become rich so we have to act for that and no one really want you to become rich so whenever we hear such an attractive investment scheme avoid that shit and keep concentrating on strethening your portfolio and one day you also will become rich but its not going to happen in a day or too unless you are very lucky.

SatoPrincess

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Quote from: hugeblack on December 03, 2021, 04:57:11 AM

Your story is beautiful and tells a little bit of reality, but what happens is that the brave warrior sees that some warriors who carry a paper sword have wounded the giant and therefore he is encouraged to attack with the paper sword.
In the sense that many altcoins or scam platforms make beginners profit at first, and when greed begins to move without thinking, then losses occur.

Also, the profits achieved by experts or friends or some random coincidence make them say, why not try investing in that currency, maybe something will happen. Grin

You're right! They want good things handed to them. Newbies buy the hype without doing research. They search YouTube for the altcoin that's going to do x500 in 2 days, they join pump and dump groups, buy "signals" just to make it big. That's why it is easy for scammers to take advantage of thier ignorance.

hugeblack

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Buy/Sell crypto at BestChange

Your story is beautiful and tells a little bit of reality, but what happens is that the brave warrior sees that some warriors who carry a paper sword have wounded the giant and therefore he is encouraged to attack with the paper sword.
In the sense that many altcoins or scam platforms make beginners profit at first, and when greed begins to move without thinking, then losses occur.

Also, the profits achieved by experts or friends or some random coincidence make them say, why not try investing in that currency, maybe something will happen. Grin

BITCOIN4X

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All beginners in this cryptocurrency space should gain sufficient knowledge before making any investment or trade. Sometimes we are really good at teaching them to do the right thing and directing them to stay safe while we ourselves are a little confused about things and this is the funniest part of some of the people on this forum. Cheesy

If this thread is for beginners, I agree they should gain extensive knowledge as well as a strong drive to keep learning. This will be an insight for them and anyone who previously didn't realize that getting rich overnight is so impossible for day traders that I can compare 1:1000 or more than, unless they are the holders.

Coyster

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'Life's but a walking shadow'!

Phew, your story was actually long, but yet fun to read and easily applicable to the Bitcoin network, I do hope newbies have the patience to read it, having said that, I can only but buttress what you've actually said, as a newbie, knowing fully well you're only new to the network, you'll have to learn all there is to learn, and if possible start from the easiest way to make profit in the network, for example, buying Bitcoins and holding for it to accumulate profits.

Trading of any type is actually not as easy as most newcomers take it to be and they go into it without doing any research or trying to learn the ropes, that's the reason why they run into losses, and it all stems from their desire to get rich quick/immediately, on a general point of view, I am of the believe that if a newcomer genuinely has the intentions of learning in the first place and not earning straight away, then they'll prolly not incure losses and will definitely make good ROI, if not in the short term, but definitely in the long run.

Symmetrick

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