Topic: Bitcoin is not a get rich quick scheme. - page 3. (Read 1413 times)

I'm not saying that bitcoin or cryptocurrency is a get rich quick scheme. But just because you joined in 2016 and are not yet rich, you hastily concluded that this market cannot get rich faster than other markets, which is not entirely true. In my opinion, cryptocurrency is like other financial markets, we get rich quickly or slowly depending on each person's level and skills. It doesn't depend on how long we are in the market, because there were so many people entering the market in 2020 and 2021, they also became rich.

Bitcoin is not a get rich quick scheme but clearly with its volatility it gives us the opportunity to become rich faster than other markets.

Bitcoin investment is not hard to understand and follow through with, aside from having the capital to invest which is not enough because you will also need the knowledge too to navigate the market , without the knowledge as a newbie you can invest wrongly and start blaming that it's a scam.

With the proper knowledge you would know when it's the dip and how to take advantage, it's surprising to note that there are newbies that can't in clear cut distinguish the dissimilarity between technical analysis and fundamental analysis, for all they are focused on is making profit not knowing that the secret to making profits in cryptocurrency is knowledge. Which is why they have to learn first before all else.

I've been in this industry since 2016 and I've yet to be rich by conventional standards. Goes to show that this industry's not about making anyone with half a brain be rich as what outsiders are trying to paint it out to be. In the bitcoin and crypto industry you really have to put in the work and the patience in order to reap the benefits. For crying out loud even the whales in the bitcoin network had to wait for more than 12 years to even reach this amount of money like jesus christ how "quick" was that lol.

This industry's fast-paced, yes, it pays well yes, its profit potential's higher than any investment venture you could ever check out for sure. but you have to make an effort and an initiative to make a name and a killing in this industry.

You guys are apparently correct, most times many people get it all wrong by thinking that Bitcoin is part of those shit coins. However, we don't have to blame them at all because they are shitcoins or altcoins lover and mostly, there are many investors that have to see the progress of other investors and the kind of coins they invested on before they can trust the project.
However, long-term holding is not wrong, but many people that don't have patience and discipline can not hold their coin till dear life. Permission to say that the short-term holders are missing profits that they can not even think about.
If one can constantly buy coins worth $50 weekly and for maybe a year or more and hold it, I really think that the investor will ever regret it.

Instant profit is not easy to get in any field therefore if someone wants instant profit then I think don't waste your money through buying crypto asset as crypto do not offer profit to those who have no patience. People choose bitcoin because they have heard that bitcoin will offer them instant profit but actually this is not right information because few years waiting is must to become a successful holder.

Just buy bitcoin and then without touching it leave it and take information about just bear and bull market like as news about upcoming halving is spreaded all over the world so then learn how to take profit from halving. Some people have all the information regarding halving and bear as well as Bull season but they don't know how to take out their profit during that time so such lack of knowledge become risky for them and they miss out the advantageous offer.

the way some people present Bitcoin to newbies can lead to the misconception that it's a get-rich-quick scheme. Overpromising unrealistic returns and downplaying the inherent risks of investing in Bitcoin can set unrealistic expectations and potentially lead to financial losses for those who are not fully informed about the market's dynamics.

it's crucial to approach Bitcoin with a mindset of long-term investment and a thorough understanding of its underlying principles. Bitcoin's value is driven by a complex interplay of supply, demand, and market sentiment, making it a volatile asset class. While there have been periods of significant price appreciation, there have also been periods of substantial downturns.

Remember, Bitcoin is a transformative technology with the potential to revolutionize the financial landscape. However, it's not a shortcut to wealth. Approaching it with a rational mindset, a willingness to learn, and a long-term perspective is key to navigating the complexities of this emerging asset class.

I think you made some good points as I have noticed that people coming from Ponzi scheme background tend to see Bitcoin as a get-rich-qick venture. They are usually eager to see the profit and when it is not forthcoming,  they result to all manners of negativity.  Unknown to them is the fact that the beauty of Bitcoin is unlocked in long term holding.

Holding Bitcoin for long does not even cost anything so I wonder why many people have problem with that. It is the fastest way to make money that I know,  unfortunately,  many people want it so fast that they end up missing the bigger deal.

Yes, that's why basically the assumption of bitcoin can be said to be a quick rich scheme because some people assume that the future trading is considered as bitcoin provides wealth, yes we know that Future trading is a way to quickly be poor, maybe from many influencers that show multiples of their profits as Advertisements for their class, to deceive many people. Imo

Yes, you are right, about that, my intention is about the layman's response about Bitcoin as a fast scheme because there is such a trade, while in our spots we cannot benefit easily because we need to wait, at least one cycle if we want to get a profit reasonable.

I think it is not just pomzi scheme that is making beginners to have the mindset that they can make money from bitcoin so fast,  I think influencers and bitcoin ptomoters on social media don't tell beginners what they need to know about Bitcoin, they only talk about how profit can be made in investing bitcoin with no good explanation,  and this why some beginners misunderstand beginners.  This bitcoin influencers on social media don't tell beginners what they need to know because they just want to gain followers on social media which will earn them more money.

What surprises me at times is that some of them can actually prove to be a genuine project that has come to stay, but along the line, things could end up not falling into place for them because they might have planned it, and it will just cause them to disappear, abandoning the project. That's why we see countless tokens that are listed on Pancake Swap and other DEX but not trading volume. I just get scared of investing in altcoins because of those reasons. Some people know that altcoins can easily pump and dump, which makes them feel like they can get a quick profit from the crypto space. They may not realize that Bitcoin is not the same thing as the other crypto that they know.

This idea of getting rich quick derived from some people actually being able to do that. I have met with people at telegram that literally ended up getting rich by doing the most idiotic things. I may agree that bitcoin may not, but altcoins are "get rich quick scheme"s at the core. I mean we are talking about things and places that has been doing something for a long time and not doing it right neither and sometimes still gets lucky. All in all we can't really end up expecting much from this situation, some people will just go for it and we need to just accept that some people just do that. Maybe we can try to stop them, but they will not listen and they will do whatever they please.

There's no long talk about this, you can't invest on Btc and expect your profit to come quick like Minato  flying thunder God technique (Naruto). You just got to hold, and sell at the right time. Because no matter the corrections Btc undergoes it will surely rise back.

People reason it from that way because of the way they think of the innovation (Bitcoin). Ponzi  schemes have taken over the world so whenever a good project came out, people will be thinking that it is one of the ponzi schemes until it proving itself genuine in the internet. And it is not Newbies are victims of this Ponzi schemes but those who have been scammed by these fraudulent people are still investing in those ponzi schemes. And if you tell them not to do they won't listen.

Don't expect to get rich quick with bitcoin, only novice traders think about that as they are eager to make immediate profits but their knowledge and experience are not sufficient enough.

Bitcoin may cause you mistakes and losses at first, but if you are persistent enough to take the risk and overcome those mistakes and losses, then it's certain that bitcoin in the long run will make you rich and make your finances stable and secured. The only problem with bitcoin is how to get it started, but when you're already in the process of reaching your goal, getting rich is not actually a problem since that will be the final destination if you are not a quitter with bitcoin.

it is wrong because with that plan of making your money early you might even loss your money in despiracy of making quick money instead of thinku-ing like that is better to use that mind set to understand the nature of bitcoin, before you invest because people that have that kind of mindset are not ready to invest in bitcoin, their qualities you need to possess before anyone can enjoy investing in bitcoin, bitcoin need patience and serious understanding of the whole environment, and the approach of individuals will give a result according to the approach. and a lot of people don't want to pay the sacrifice of learning the basic and in the absence of that basic they wont stay long in the business.

some people behave has if they are cars that are been operated they hear about bitcoin but don't know what it takes to invest in it, if you tell them about the bitterness of bitcoin majority of them will lose interest but because they always want to hear about the interesting part were they will say you will make enough money and bitcoin is not like that it involves a lot of mental work so beginners should not just think its a game were you come and you start making money it is not done that way, and is not far again for does that are seriously interested and are still contemplating weather to invest or not halving is here.

The mentality of wanting to get rich quick with any type of investment is a barrier that makes a person unable to invest properly and correctly.
Bitcoin is a good investment for the long term.
Beginners do need to do research on how Bitcoin works in the long run, but there is no need to do thorough research on how Bitcoin delivers results in the long run.

Seeing how the Bitcoin cycle is going when the halving is about to happen, now is a good opportunity to buy and keep holding before the Bull run season arrives.
The more you hold, the more profit you can get.

I think most newbies misunderstand bitcoin because they fail to do research to get proper understanding of bitcoin and how the market of bitcoin works, they think Bitcoin is something very easy that anyone with no understanding can just start investing and making profit from it very fast. Bitcoin is a longtime investment and the only way good pro an be earned is to hodl. I think newbies needs to make research about before they start investing in it,  because I think if people get understanding to know that Bitcoin is about hodling they will have this in mind and never to expect quick money from bitcoin. Most newbies always have this mentality of making money so quick from bitcoin just because they do not have the real information to know how it works.

What you say is true when compared to other investments, BTC can become rich if they study Bitcoin properly and correctly. Maybe more precisely, Bitcoin can make people rich if they maintain it and are patient. If Bitcoin is a get-rich-quick scheme, this is just wrong because BTC investment is not like that, everything requires analysis and process so that we can get big profits in the future.

Many out there, especially those who are still beginners, view Bitcoin as a quick way to riches, so when they don't achieve what they want they will say Bitcoin is a scam. In essence, no investment is a get rich quick scheme, it all requires time and patience.

Social media narratives skew perception, leading to disappointment. Bitcoin is a groundbreaking technology based on complicated economics, cryptography, and network theory. The issue? Stories of quick gains tempt beginners to jump without looking. They fail to grasp Bitcoin's volatility, market dynamics, and technological advances. Bitcoin success, like any investment, requires knowledge, patience, and risk tolerance. Therefore, education matters. We must change the narrative from Bitcoin as an investment to a pioneering innovation. Doing so creates a more informed, resilient community that can handle cryptocurrency's ups and downs.

Yes you are right, this will really depend on how people introduce Bitcoin to them and how they respond to it, if they hear that by having Bitcoin we will get rich quickly of course they will collect it and hope they can easily become rich and they don't ask about how where to get rich and what if there is a loss in the process of collecting Bitcoin, so it would be better when we introduce Bitcoin to other people, we tell them about the advantages and also the losses they will get when they fail in the process they are doing so that other people don't who try it in the hope of getting rich but they can't achieve it and also the losses they get.