Topic: Bitcoin: A conditional wealth creator (Read 309 times)

I don't think you can consider trading a sort of investment of time because it's not just your time that you need for trading. You can't get into a financial marketplace unless you have your capital to start with and a capital is a monetary sum that you use to trade certain assets. So, trading requires a person to have both time and money, and it's not just a type of time investment where you need to spend your time to earn Bitcoin or other assets.

In order to create wealth using time, one needs to offer their services to people so that they get paid for what they do for their clients and customers, this is what we can call a pure form of investment of time to create wealth because it only requires your time and some skills that you acquire to earn you money in the market.

I personally find that most people, on average, already do not grasp the horrors of fiat currency, fractional reserve banking, centralization, etc. It's no surprise they then also misinterpret BTC as a result. Most people have a hard time understanding gold's appropriation as a store of value, not an investment. People have a really, really hard time with little complexities and nuances that can, have, and do impact crucial distinctions in outcome, etc.

Ironically Bitcoin does seem at first glance like a Currency that makes people rich or poor quickly.  Its volatility allows this to happen for sure but people often over estimate how well they can handle it.

If you think we have some members here from 2011 - 2012 you would think they are all rich as hell and they have pockets filled up with Bitcoin.  This is not always the case.  For all we know Bitcoin may still be very young and it may become worth many millions in years.  By then however, most of us will have wasted our Coins already.

It is funny and sad simultaneously when I see many people think they know it all and best but then realize they do not and Bitcoin is not as easy as it seems to play out.

For most yes but for some not. I'm referring to the corrupt people here. They can just sit and relax while the money is automatically flowing at them. There is no way to be jealous at them though since what they are doing is wrong. I don't mind struggling and earning less money but in an honest way because I can sleep better at it at night. Investing is risky so before we do it, we must already agree that we can lose. And a wrong step is inevitable as well no matter how much preparation we do but it should not discourage us as it is still possible to return on the right path again. An investment that is profitable can sometimes need a timing and luck. This allows us to earn easily or quickly.

The general conclusion that can be drawn is that earning money or profit is a very difficult thing to do and is full of risks. If we take the wrong step or investment, we must also be prepared to lose everything we have invested, especially since a truly profitable investment is an investment that requires time, so patience is the main key, and there is no investment that can provide huge profits in a short time.

Everyone keeps talking about buying BTC or investing in BTC, but the failure to acknowledge that a successful Bitcoin investor is one that has money.
At least a source of income is the first consideration if anyone should intend to succeed from investments in Bitcoin. That's why the DCA strategy is often talked about as a way to HoDL few Sats for several years with hopes of its value being intact but with profit when liquidated.

Ponzi schemes also require money but for those who know better, it holds no assurance of profit as imagined and for me, I can like it as a gamble that is way too risky with little promise of profit.

It is greed that makes people want to invest in get-rich projects such as Ponzi schemes and businesses that promise huge profits within a short period. Some of these schemes do a lot of advertisement and in some cases, they pay some celebrities to promote the scheme. These celebrities will deny having any relationship with them after they have rug pulled or scammed investors. In most cases, many people end up losing their money because these businesses are not sustainable. Some of these projects are somehow difficult to identify if you don't do intensive research on them.

I will never advise anybody to invest in any Ponzi scheme because you cannot predict when the business will collapse. Most people that are the first investors are the ones that might be lucky to get their money but others might lose all. Ponzi schemes have destroyed many people's finances, businesses, and families.  A young boy who borrowed money to invest in one of these get-rich-quick committed suicide because he couldn't cope with the loss.

Investing in ponzi and scam projects is relevant with the promise of relatively large refunds and attractive marketing. The risks involved are also very large, there are many Ponzi schemes that we can find in our environment, such as MLM, for some people this is risky, but for some people it is also a land of money. It's also good for us to know or be involved to be able to differentiate and as a lesson. However, I am not suggesting that this is the main investment medium.

Regarding Bitcoin's volatility, this is normal and what you said is a buying opportunity.

Anybody who wants to get rich quickly should consider Investing in Ponzi schemes or scam projects. These avenues promise free and quick money without any effort. If you want to invest in the Bitcoin space you need to be patient and have a long-term investment mentality. The main cost of investing in Bitcoin is the risk associated with it due to volatility. But volatility also has its benefits because it also gives investors the chance of buying Bitcoin at a cheaper rate.

If you want to use the words or phrases verbatim, you need to put in a quote. But you need to reference it if you are just using the idea, which means you have to rephrase it.

In conclusion
There is no such thing as free money. Creating wealth comes with a cost, which means creating wealth through Bitcoin also comes with conditions as mentioned above. There is no such thing as getting rich quick.

Thanks for reading...
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You actually titled the post "conditional" because there's always a price to pay for one to be Successful.Through so much efforts,hard work,and consistency.
 There could be false information about bitcoin,but the ability to utilize bitcoin for the purpose it was created is worth doing.

Interesting. If I have your permission, I would be using a line of phrase from this your reply in addressing something crucial in my next post.

It's a pity that many are interested in bitcoin but are not ready to give it all it may demand from them to achieve the higher level of success in it, when we are being introduced to something new as bitcoin, we are expected to take time in learning how it works, understand the reason for creating this digital currency and then be able to afford taking the risk it may also constitutes and know about every constituents of any mistake made, after this, you will understand the reason why some could be earning from bitcoin while others may not because you're not all doing the same thing.

It's really quite discouraging having to talk to bots, thanks for letting me know, I was almost responding to the OP and participating too.

Here on the forum there are so many cool things, why do people insist on using this to interact? all for campaign money? this should only be a benefit, not the main interest.

I just recently learned about it that back when Bitcoin started, it was all about P2P transactions, not some investment craze. People didn't see it as an asset, they just wanted to exchange stuff. Who'd have thought buying pizzas with Bitcoin would turn into a legendary story? Now, with the crazy price jumps, it's becoming more of an investment game than just a way to pay your buddy. More to discover with the bitcoin community really

This is something that not a lot can understand hence why bitcoin gets a bad reputation in the eyes of the general public

Most people, when told about bitcoin, automatically assume that they can just invest and their money will double in size in no time and once this does not happen they brand bitcoin as a scam which will then be spread to other people we must learn how to properly educate other people about bitcoin if we want to make bitcoin more accessible to more people

Most AI detectors show that the OP generated the content with the help of AI - so I would advise everyone who sees a beginner with such "quality" posts to check the content before replying - because it makes no sense to have a discussion with bots, right?

https://sapling.ai/ai-content-detector/301cc8d23eb5353a676f896eae67c756

Apologies to the OP on the AI generated post accusation, the tool I used (and another one I found randomly online) showed a result that was not correct.

From Satoshi's idea about Bitcoin, Bitcoin was not initially meant to become an asset for investments but rather a currency for p2P transactions. A lot of persons have the opinion that crypto investments should have been implemented a long time ago so you can enjoy the returns presently. But it doesn't really work that way because Crypto investments only became popular not long ago. It's popularity was as a result of the Outstanding performance of Bitcoin in terms of price and decentralization over time.

During the early periods of Bitcoin Creation people never really saw it as an asset but just a digital currency for P2P transactions.  Like come to think of it, laszlo would not have spent over 50,000 Bitcoins on Pizzas if he knew Bitcoin would become a potential asset in the future. Because of its price appreciation overtime Bitcoin is gradually becoming more of an asset than a P2P currency.

Introduction
With the aftermath of the 2008 subprime mortgage crisis, which led to the collapse of the housing market, the need for everyone to start taking responsibility of their money became crucial. The usage of customers' savings by banks has limited the accessibility of personal funds in some parts of the world. Sadly, this is something customers can't address because it's officially backed by the government nationwide.

With the smart thinking of Satoshi Nakamoto, a form of money that gives everyone the responsibility to handle their finances was created. Bitcoin operates solely on decentralization, thereby not involving a third party in every transaction process. Money is easily sent to others with no fear of reversibility as long as there is an appropriate medium of transaction.

Over the years, Bitcoin has shown attributes of a commodity such as gold. The process by which they are acquired leads to a diminishing supply from the source, i.e, the more we acquire them, the more they are reduced from the source. A period of every four years is considered the halving event, where there is a cut in supply. Bitcoin's price gradually grows over the years through different halving seasons, marking the beginning of a new cycle in Bitcoin's ongoing price discovery.

Interestingly, the primary aim of creating Bitcoin, which is to serve as a peer-to-peer mode of payment, has become overshadowed by its ability to create wealth. Due to Bitcoin's occasional price increases, it has become a source of wealth creation for millions of people globally. The profits that can be accumulated are solely due to long term of waiting. Though, there are certain conditions that Bitcoin offers in order to serve as a wealth creator for anyone. They are...

1. Investment -
Investment is a major key factor in creating wealth through Bitcoin. There are basically two forms of investment: Money and Time.

Money: Certainly, Bitcoin itself represents digital money, so it requires another form of money to acquire it for personal use. With the volatility, we often buy it at different prices, which means that there is no stated price for it.

Time: Time happens to be another form of investment, especially for those who apply the trading method. They try to buy and sell considering how good or bad the market price is. These methods help to make quick gain.

2. Patience -
Bitcoin is never a 'get rich quick' scheme, which means that it takes time to make a reasonable profit from it. In order to create good wealth through Bitcoin, patience is also a key factor, especially when it's a long-term investment. Certainly, we have some holders who have been holding their Bitcoin since 2014/15/17.

3. Positive Emotions -
In order to create wealth through Bitcoin, it is advisable to maintain positive emotions. Ideally, we can get too emotional, especially when the price drops very deep and it feels like it might crash. Positive emotions give the courage to keep on hodling or trading no matter the market condition.

In conclusion
There is no such thing as free money. Creating wealth comes with a cost, which means creating wealth through Bitcoin also comes with conditions as mentioned above. There is no such thing as getting rich quick.

Thanks for reading...