Topic: All in the name of money making (Read 240 times)

I am not keen on the token market as well as the DeFi scene and i hated them and hardly invested anything in those markets for a long time and when i invested it burned my hands but i never hated the alt coin market altogether and everyone was exciting when Litecoin came into existence and it was a fun alternative and the rest of the other coins that came into existence were fun and not taken seriously and the introduction of ETH was really hyped and being a long time BTCitcoin user i registered again in the forum because i invested heavily during the initial ETH ICO.

The market clearly does not care whether the coin is decentralized or pre mined and so was the reason XRP was able to generate investors and now the authorities started chasing them and you should expect the same with other centralized coins and pre mined coins as well as privacy coins as the authorities will force the exchanges to delist those as well.

Some people, perhaps beginners always assume that investing in crypto is the path to rich. And this assumption is  common if  crypto is
bullrun like what happens to bitcoin behavior today. I’m sure a lot of beginners go into the crypto market when bitcoin is at the pump as
it is now. And they’re hoping to double their money. Even not only beginners who are always greedy, but we will  also be made greedy if
bitcoin continues to rise like this. We can’t know for sure when bitcoin will go  down.  So  many still hold  bitcoin and  benefit a lot if until
now we still hold it

Majority of those people who did just recently jumped in into this market for that sole reason are to those people who had been hooked up to join this place due for they have
seen those big profits that they had looked in social medias or youtube or messaging platforms about investment with big returns.
Having this kind of aim or goal in mind is just typical for most people on this market which is common and its hard to resist not for you to look for it.
We can possibly make tons of profits on here if we do things right but of course it would really be needing some sort of luck
because not all will really be successful.

The only problem here is the unregulated market and hence you can see a huge number of scams taking place as well and anyone entering the market should understand the difference between token projects, established coins and now the DeFi craze and then there are fork coins that confuses the new investors and some are promoting them as the real bitcoin. So it is not an easy route to understand for any new comer and the risks are much higher than the stock market.

Who got scammed?

There was a time when I was a hard line altcoin hater, especially when it came to Ethereum. Over time it dawned on me: what does it matter if Ethereum isn't decentralized, or if it was pre-mined? The market clearly doesn't care, so why should I? Ethereum fills a market niche that Bitcoin will not and cannot fill.

At the end of the day I am trying to accumulate BTC. Altcoins are a good way to do that. The key is to avoid holding them most of the time (), and to pile in only during ALT/BTC bull markets.

Just watch what happens when ETH/BTC finally breaks above multi-year resistance ~0.04, after 2+ years of accumulation. It's going to be epic.

If you are investing or a bounty hunter you are going to lose a lot if you are not diversifying, diversifying is the name of the game in the Cryptocurrency market, picking the right coin and deciding the right time to sell it and buying new coins with potential or old coins with good potential for pump.

The biggest mistake you can make is thinking that being an "early investor" in some shitcoin is equivalent to being an early adopter of Bitcoin.

Your chances of large gains are still better with Bitcoin than with any altcoin even if you get in at the ground floor of that altcoin, unless you're one of the original scammers pre-mining it.

Sure, the days of 100k-fold profits (like buying for $0.25 and holding until it reached $25k) in Bitcoin are long gone but there's still lots of room for the price of Bitcoin to increase 20-fold.
___

There is only one Bitcoin. Everything else is a scam.

When Vitalik Buterin first spoke in January 2014 (at Decentral in Toronto) of his plan for smart-contract-based Ethereum, my alarm bells started ringing when he talked of pre-mining. I could have gotten in at the start but he wanted real Bitcoin, not dollars, and the whole affair seemed so sleazy. I'm glad I kept my Bitcoin. Bitcoin was based on decentralized peer-to-peer networking and limited supply. It was never conceived as a get-rich-quick scam. It was the child of honest cypher-punks.

Yes some people got quite rich from Ethereum. Anthony Di Iorio, who hosted that talk, reportedly became a billionaire at one point from being the principal backer of Ethereum, but how much real Bitcoin did he have to spend to do it?

Of course Vitalik made a ton of money but he was the principal scammer.
_____

The main reason any shitcoin increases in value is because its price is valuated in Bitcoin. Eventually Bitcoin leaves everything else behind.

If you know which project to invest, you should be able to get thousands when bullrun comes. i just need time though. Like they say in stock market, its always going to need patience and you will be battling with time. I have my experience of making good amount of money by waiting long enough.

But if you want the easiest where you can gain easy at short period of time, then just invest on BTC, you won't be scammed as well.

Only when you know what to do is when you diversify, meanwhile only a few actually understand that the crypto space offers more than just waiting for a buy and sell order.

There are individuals who do not have large crypto investments but generate daily sustenance as a result of managing their small investments, even startups.

come on!! that a crypto asset is not still so different than any investment in Fiat, the big difference is the way you get easy involved with a crypto asset and from how it would be done in an investment in Fiat.

And there is the great change of mentality that must exist in some people who get involved with the crypto world since it offers a world of investment opportunities that in the Fiat world was only available to a few.

It's all about making profit, we don't put effort in buying or researching each coin if we're not into having profit, we should take advantage of these chances that we know how to trade or how crypto works so we can use it as our advantage being a early investor like what happens to those who buy bitcoin earlier and been able to prosper the gains of its price now.

And he didn't do it just by buying and selling shares.

He did it by buying controlling interest in companies, restructuring them, and making them profitable.

The truth is I was once like this, buying a token and hoping it will grow bigger in few years but it got to a certain point I started seeing things more clearly, I later knew that I need more than just a single project to get to my aims, projects failed, got abandoned or turn scam too many time, you don't want to spend your time depending on a single project, believe me it's wrong way

Its really true it is so tough to get to be rich within a few times and a single project .If the project goes down you will get nothing you will lose your everything .I think we need to invest on different project as you said it will give us a good return on a ratio .So don't put your all money on a single project .

What people do not realize is the amount of money rich people made per year and how they got rich. Nobody made more than 100% profit a year, thats unrealistic and that usually never happens, wanna know how Warren Buffet was one of the richest people alive for years? He made 20% a year profit for 50 years, that's how. Obviously there are people like Mark Zuckerberg or Jeff Bezos who invented a company and got super rich, but even they didn't become that rich overnight, they worked on their business for years not making any money, Jeff Bezos actually lost a ton of money for a very long time before starting to worth something.

So long story short people in crypto want to make a ton of profit right away and get rich very quickly but they do not realize that you need to spend about 10-50 years to become that rich on steady decent returns, instead of overnight success stories.

Many came because they simply did not want to be LEFT BEHIND!

You can make millions with Bitcoin itself but it depends on the capital you have to invest not on the number of projects you can invest. Right now Bitcoin is at its peak so if someone bought Bitcoin when it was at 5000 or below when covid hit us then they made nearly 550% growth in less than a year. Investors are here for Money making but not everyone who invested in cryptocurrency may not be in profits due to lot of factors

I am against this philosophy. Do the rich collect their money by dispersing and putting a lot of eggs in the baskets? It is the policy of the poor, but it is more correct to focus on choosing the right currency and selling it when it begins to separate.
Not all projects are successful. So why risk dragging so many currencies that their storage is only profitable?

Invest in one currency and make your gain or loss foolish, but do not covet or invest stupidly.

This is a very open topic, particularly we are all looking for money, because it is a lie to say that money is not sought by working, it is normal, the crypto space has many advantages in this regard, since there are projects that are now emerging, especially in the DeFi ecosystem, but everything is a risk, the safest way is to do jobs and pay with Bitcoin, this the only way to get rich is by investing in Bitcoin and making Hodl.

 

Exactly. This is why Bitcoin stands alone apart from other "projects" like dollars, ethereum, euros, ripple, defi, etc.

People who buy Bitcoin to sell it for a fiat profit aren't investing in Bitcoin they're just gambling. They aren't investing their wealth in support of game-changing new technology. They're just trying to make a buck.

It seems that those who mined or bought Bitcoin because they believed in what it stood for are more likely to have made millions than those merely trying to get rich.

This is the effect of greediness. Been there and thought that I'll earn more than what the market is showing and that made me done wrong decisions. As much as you get profit, don't ask for more but if you do, then do it with the process that's safer than you could. Instant and quick profits would lead you to another wrong decisions which most of the newbies do it wrongly.

Right on. If you're into projects like Defis or IEOs or still with ICOs, you have to move on from project to project if you're that type of person. The market for these projects are dynamic, they're changing overtime and that can affect your investing decisions whether to keep holding them or not. But with the situation you see today, do you think it's worth a shot to follow each and variety of them?