only people who have high aspirations implement get-rich-quick schemes, because they see bitcoin when it has a high value and hope to get more without knowing the process (usually people who enter/buy when bitcoin is having FOMO)
owning bitcoin is not to get rich quickly, it only delays continued poverty, if we enter at the right time and release at the right time too
Topic: Bitcoin is not a get rich quick scheme. - page 10. (Read 1413 times)
Bitcoin investment is just like a normal investment that when you start it initially, you take your time to grow, nurture and monitor it, with patient and discipline to make sure that the investment flourishes.
When you write a wall of text like this about 'BTC investment', you are giving people the wrong impression that BTC is similar to a ponzi/pyramid scheme that everyone should just buy, hold it, only to sell later for profit, and the cycle continues. BTC is a p2p electronic cash that is decentralized and censorship resistant, that is what BTC was created to be, and maybe that is what is worth discussing or writing a wall of text about, especially in this section of the forum. BTC as an investment is secondary, and it is because BTC is volatile, there would probably be a time when BTC may not be as volatile as it is now, and it may not serve as a 'profitable' investment for many people anymore, but BTC would always be a currency, because that is what Satoshi created it to be.
I agree with your analogy about Bitcoin. Bitcoin was created as P2P electronic cash on the blockchain network and currency used when there are transactions on the blockchain network.
Because of its decentralized nature and the many people who agree with Satoshi regarding Bitcoin and the decentralized system, Bitcoin has been adopted and used to this day. With limited quantities, cheap transaction fees, fast transactions, it also attracts more and more interest because they want to use or take advantage of it. Because this demand is what causes BTC to rise in price, supply and demand. Over time, as prices continued to rise, many parties, especially early adopters who held a lot of bitcoin, began to invest because they saw the projected increase in value for the future until bitcoin was able to provide high profits with the nickname sage haven/digital gold asset. As you said, Bitcoin investment is a bonus. For people who understand Bitcoin and its system, they also know its cycles and uniqueness, therefore the risks about the volatilitily they carry can also be anticipated by holding.
Newbies are the one that has such mind set in the community, that is why you see them shooting whenever there is a little dumb in the crypto market because, they thought the moment they invest in that particular coin they will turn to millionaire or billionaires in the community. If you made up your mind to invest in BTC, it can change your level that will make people to feel evidence of a good living around you when you apply long term hodling in your BTC and make sure that your capital is a big capital to start the BTC investment.
If you use $50k to buy BTC when the price is low, because I will not advise newbies to buy BTC at this current price, but if newbies can use this $50k to buy BTC when the price decrease to $15k and hodl like 6 or 7 years before they can sell to make a good profits, I believe poverty will leave such newbies life by force.
If you use $50k to buy BTC when the price is low, because I will not advise newbies to buy BTC at this current price, but if newbies can use this $50k to buy BTC when the price decrease to $15k and hodl like 6 or 7 years before they can sell to make a good profits, I believe poverty will leave such newbies life by force.
...it is your bitcoin investment that will turn your life around in future and you will be happy that you invested and hodli for a long term and you could meet up your bitcoin target.
Bitcoin investment will hedge you against inflation and give you some return on investment, but will not "turn your life around" or get you rich. If you have a source of income, converting your spare cash to bitcoin will help you protect it from inflation, if you do not, bitcoin cannot help with that.Bitcoin is not altcoins that can be hype,
Bitcoin is not built on hype, but it is a consequence of its features. Decentralization and security is enough to get anyone excited.- Jay -
Indeed, Bitcoin is not a ge rich quick scheme but unfortunately that's what how it has been introduced to the outsiders I mean to those people who are not aware of Bitcoin. I have seen my colleagues discussing about investing in Bitcoin stating they will get rich by doing it but they have no idea about concept of Bitcoin and why it will make them rich, I feel Altcoin is a get rich quick or lose it allsor of scheme wherein Bitcoin is like gold with higher returns and a real life P2P transfer medium.
We cannot blame anyone here since there are no centralized stakeholders who are responsible to spread awareness. But, eventually once people become wise they will realise what is Bitcoin.
We cannot blame anyone here since there are no centralized stakeholders who are responsible to spread awareness. But, eventually once people become wise they will realise what is Bitcoin.
If we consider how stock market price move and bank financial instrument offer, Bitcoin is indeed quick scheme since you can double or triple your investment with just a short period of time which you can attain by investing on traditional investment. Bitcoin volatility is one of its pros and cons at same time since it's one of the main reason why we are being notice.
This people thinking about quick rich will soon do research to themselves once they are already invested. That's the time they will change their perspective so I don't see any problem for people think that Bitcoin is a quick rich scheme as long as they will invest and later do their own research about the full benefits of Bitcoin aside from it's volatility.
Bitcoin will not make you instantly rich, but if you know the secret strategy to increase your bitcoin hodling and you’re aware on how to deal with the risk and manage your investment, in less time you will eventually become rich. Although it’s a long term investment with a maximum of 5-10 years, but with patience and understanding on the market volatility, you will end up seeing yourself in highly financial security.
However, if you invest full of greed that you want quick profits at the earliest time possible, believe me bitcoin will not make you rich but will make you suffer and lose your capital. Bitcoin is not a get rich quick scheme, but it’s one of the most effective and profitable investments that will create life changing opportunities and profits to make you rich and wealthy.
However, if you invest full of greed that you want quick profits at the earliest time possible, believe me bitcoin will not make you rich but will make you suffer and lose your capital. Bitcoin is not a get rich quick scheme, but it’s one of the most effective and profitable investments that will create life changing opportunities and profits to make you rich and wealthy.
Bitcoin right now probably can't make you rich, but it can help give a good boost to your net worth — obviously due to price appreciation, and depreciation of fiat currencies.
Bitcoin isn't a get rich quick scheme, it's a not-get-poorer scheme.
Bitcoin isn't a get rich quick scheme, it's a not-get-poorer scheme.
Bitcoin is considered a long-term investment, and its value is expected to continue increasing. It serves as a good hedge, especially for countries experiencing hyperinflation with their fiat currencies. Governments that may not be transparent about their economic status, particularly the impact of substantial debts, could potentially surprise their citizens with the existence of hyperinflation. In such cases, being aware of Bitcoin could provide a safeguard, allowing individuals to relocate to other countries if necessary. All they would need is the key to access their Bitcoin wallet, making it a portable and potentially secure asset in times of economic uncertainty.
Indeed, Bitcoin is not a ge rich quick scheme but unfortunately that's what how it has been introduced to the outsiders I mean to those people who are not aware of Bitcoin. I have seen my colleagues discussing about investing in Bitcoin stating they will get rich by doing it but they have no idea about concept of Bitcoin and why it will make them rich, I feel Altcoin is a get rich quick or lose it allsor of scheme wherein Bitcoin is like gold with higher returns and a real life P2P transfer medium.
We cannot blame anyone here since there are no centralized stakeholders who are responsible to spread awareness. But, eventually once people become wise they will realise what is Bitcoin.
We cannot blame anyone here since there are no centralized stakeholders who are responsible to spread awareness. But, eventually once people become wise they will realise what is Bitcoin.
Why are you after a quick profit investment, when you know that there is no investment that has lasted, that will give quick profit. The only way that you can profit from bitcoin is when you invest in a long term and focus your mindset on a long term goal with regular DCA. When you invest in bitcoin for a short term, the possibility of you to run at loss is high than when you invest in long term. Invest wisely...
What is your thought on this.
You can have quick profit with altcoins but fast comes, fast goes. Altcoins are very risky and you can have big profit with them but in a bear market, you will lose a lot of money if you invest in altcoins and hold them through a bear market. Many of altcoins will die and usually have 99% price loss in a bear market. Very little altcoins can make new all time highs like Ethereum.What is your thought on this.
Bitcoin is different, it always makes a new all time high with each market cycle because Bitcoin leads this market. Halving each four years creates a market bull cycle for altcoins to join. Dollar Cost Averaging does not help you to get rich quickly but if you can DCA a long time, you will have very big capital spent for DCA. When a bull run comes, with capital you have with DCA, you will have good profit like effortlessly.
When Bitcoin runs, it can not be stopped. DCA will help your portfolio increases a lot with a Bitcoin bull run. You can take profit effortlessly too because Bitcoin has very high trading volume.
Bitcoin could be used as get rich quick if you trade it in futures, I think many people use this when they believe in Bitcoin and at the same time they want to take a big risk. Since most of them hold their coins in CEX, they don't feel if Bitcoin fee is high and should carefully to send it.
Therefore, it is safe to say that if a person has the skill, the capital and has a big risk appetite, bitcoin can be a ger-rich-quick scheme for them. We can say that since it is only a few people that has this skill, it is a get-rich-quick-scheme for them but for the majority, it is not. A person who lives in a country with depreciating currency and invests their wealth in bitcoin may not get rich but will save their wealth and live comfortably above poverty line.
Viewing it as a long-term investment rather than a quick win is crucial.
The analogy with traditional investments makes a lot of sense, emphasizing the need for discipline and a strategic mindset.
Setting long-term goals, budgeting wisely, and distinguishing Bitcoin from riskier altcoins are all solid pieces of advice.
The analogy with traditional investments makes a lot of sense, emphasizing the need for discipline and a strategic mindset.
Setting long-term goals, budgeting wisely, and distinguishing Bitcoin from riskier altcoins are all solid pieces of advice.
Bitcoin right now probably can't make you rich, but it can help give a good boost to your net worth — obviously due to price appreciation, and depreciation of fiat currencies.
Bitcoin isn't a get rich quick scheme, it's a not-get-poorer scheme.
Bitcoin isn't a get rich quick scheme, it's a not-get-poorer scheme.
You are absolutely right, if we only store our wealth in fiat money then we will spend more money for each item we buy, but unlike bitcoin, the price continues to increase so there is a big possibility that you will continue to increase your net wealth if you only invest your funds in Bitcoin. People who think that bitcoin will make them rich in a short time or overnight are very stupid beginners, they will never be able to get it, they will fail before they can even make a profit from the bitcoin purchase they made at the beginning.
But the fact still remains that most people use Bitcoin currently as an investment scheme more than as a currency. They don't care about other benefits like privacy and decentralization.
It is because that is what most bitcoiners talk about, that is what they introduce BTC as to their family and friends, why do you think so many people think BTC is a scam and they don't want to have anything to do with it, it is because of this idea, so many of them bought BTC and the price dropped, so they sold at a loss, others bought BTC, but didn't learn anything about security of their coins and they lost it. 
But the fact still remains that most people use Bitcoin currently as an investment scheme more than as a currency. They don't care about other benefits like privacy and decentralization.
It is because that is what most bitcoiners talk about, that is what they introduce BTC as to their family and friends, why do you think so many people think BTC is a scam and they don't want to have anything to do with it, it is because of this idea, so many of them bought BTC and the price dropped, so they sold at a loss, others bought BTC, but didn't learn anything about security of their coins and they lost it. Nothing changes the fact that BTC as an investment is a secondary purpose, when people learn about the BTC network first before learning about how to make returns from BTC, they would secure their funds better and they will care more about privacy and other important aspects of BTC, and then they can make returns from BTC with some of their coins, I believe this is the proper way things should go.
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Bitcoin is not a get rich quick scheme.
I think the reason newbies think bitcoin is a get rich quick scheme is because they have heard about bitcoin's past huge returns. With that, the hype of shitcoin also spread and they assumed that bitcoin would too. Therefore, many newbies to this market have the misconception that bitcoin is a form of getting rich quickly, making money from bitcoin is very easy...But not just bitcoin, I think most people participating in any financial market will have that thought. But when they actually become investors, they realize things are not as they dreamed.
What is your thought on this.
There is no need for much drama or explanations. If you want to make fast money, don't join the Bitcoin space just locate shitcoins or Ponzi schemes. Bitcoin investment is just like a normal investment that when you start it initially, you take your time to grow, nurture and monitor it, with patient and discipline to make sure that the investment flourishes.
When you write a wall of text like this about 'BTC investment', you are giving people the wrong impression that BTC is similar to a ponzi/pyramid scheme that everyone should just buy, hold it, only to sell later for profit, and the cycle continues. BTC is a p2p electronic cash that is decentralized and censorship resistant, that is what BTC was created to be, and maybe that is what is worth discussing or writing a wall of text about, especially in this section of the forum. BTC as an investment is secondary, and it is because BTC is volatile, there would probably be a time when BTC may not be as volatile as it is now, and it may not serve as a 'profitable' investment for many people anymore, but BTC would always be a currency, because that is what Satoshi created it to be.
The story of Bitcoin is indeed full of false conceptions. You're exactly right: its attraction often hides the fact that investments take time to grow. You wont get rich quickly; it will take time and effort, but it could be worth it in the end. This misunderstanding makes a lot of people risk their most important things in order to make quick money, only to face the harsh tune of instability.
A new idea, though: what if we thought of Bitcoin as "digital gold"? Just like gold, its a way to save money over time. Its not a raffle ticket. Strategic accumulation is what its all about, not wild guesswork. Your plan to make regular investments that dont break the bank (DCA) is a good one. This way lowers the risk of trying to time the market, which makes your relationship with Bitcoin healthier in the long run.
Dont forget either that Bitcoin is still becoming better. Its base is better than the weak altcoins, which is a good sign. Still, its important to spread your money around and balance Bitcoin with other assets. If the world of investments is full of chances, why put all your eggs in one basket? Remember that patience is a technique in investing, therefore lets move carefully.
A new idea, though: what if we thought of Bitcoin as "digital gold"? Just like gold, its a way to save money over time. Its not a raffle ticket. Strategic accumulation is what its all about, not wild guesswork. Your plan to make regular investments that dont break the bank (DCA) is a good one. This way lowers the risk of trying to time the market, which makes your relationship with Bitcoin healthier in the long run.
Dont forget either that Bitcoin is still becoming better. Its base is better than the weak altcoins, which is a good sign. Still, its important to spread your money around and balance Bitcoin with other assets. If the world of investments is full of chances, why put all your eggs in one basket? Remember that patience is a technique in investing, therefore lets move carefully.
Bitcoin investment is just like a normal investment that when you start it initially, you take your time to grow, nurture and monitor it, with patient and discipline to make sure that the investment flourishes.
When you write a wall of text like this about 'BTC investment', you are giving people the wrong impression that BTC is similar to a ponzi/pyramid scheme that everyone should just buy, hold it, only to sell later for profit, and the cycle continues. BTC is a p2p electronic cash that is decentralized and censorship resistant, that is what BTC was created to be, and maybe that is what is worth discussing or writing a wall of text about, especially in this section of the forum. BTC as an investment is secondary, and it is because BTC is volatile, there would probably be a time when BTC may not be as volatile as it is now, and it may not serve as a 'profitable' investment for many people anymore, but BTC would always be a currency, because that is what Satoshi created it to be.
Bitcoin right now probably can't make you rich, but it can help give a good boost to your net worth — obviously due to price appreciation, and depreciation of fiat currencies.
Bitcoin isn't a get rich quick scheme, it's a not-get-poorer scheme.
Bitcoin is not for a person who wants an easy money, Tbh this is not all about gaining huge return of investment due to its volatility, Prices may vary depends on the market movement. Investing in bitcoin requires patience, understanding, good decision making and knowledge how crypto investment works, Not totally pure knowledge about crypto but at least has an idea and background about the coin. It can't make you rich in just a snap, Always remember that all investments takes time so if you're planning for a long term investment in bitcoin, it's important to set aside money for emergencies and to have debt under control. Bitcoin isn't a get rich quick scheme, it's a not-get-poorer scheme.
Bitcoin right now probably can't make you rich, but it can help give a good boost to your net worth — obviously due to price appreciation, and depreciation of fiat currencies.
Bitcoin isn't a get rich quick scheme, it's a not-get-poorer scheme.
Bitcoin isn't a get rich quick scheme, it's a not-get-poorer scheme.
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