Bitcoin is not a get rich quick scheme. - page 4.

kro55

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Quote from: rodskee on November 28, 2023, 03:57:43 AM

The quicker you earn is the quicker you may spend so why need to seek for instant earning
when we can gain slowly but surely , some or most of newbie now entering this market to become an instant
millionaire but there is no such thing.(maybe in gambling there is but that is rarest than one in a million chances.

Invest and HODL that is what bitcoin can promise us and yes we are engaging with proper
way of earning and not how others wanted to be.

I completely disagree with you on this point of view. Not everyone who makes money quickly will spend it quickly and wastefully. Furthermore, no one doesn't want to make money quickly and become rich quickly. If you say you don't like to get rich quickly, you're lying because everyone wants that.

If you don't want to get rich quickly, why would you invest in this market and not gold or real estate? We all choose cryptocurrency for its volatility, as it can yield higher returns than any other investment. So there is nothing wrong in saying that bitcoin is a get rich quick scheme, I agree with what @bayu7adi said.

rodskee

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The quicker you earn is the quicker you may spend so why need to seek for instant earning
when we can gain slowly but surely , some or most of newbie now entering this market to become an instant
millionaire but there is no such thing.(maybe in gambling there is but that is rarest than one in a million chances.

Invest and HODL that is what bitcoin can promise us and yes we are engaging with proper
way of earning and not how others wanted to be.

CryptoBuds

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HODL

Quote from: bayu7adi on November 28, 2023, 01:12:35 AM

Quote from: Maslate on November 27, 2023, 04:58:56 PM

I should say only fools believe on bitcoin as a get rich quick. Even beginners have the idea that bitcoin is for long term investment, unless if they take it for granted and still insist that bitcoin could still offer them profits quickly.

But the reality is, sometimes the world of Bitcoin attracts new people who think that when someone gets rich quickly with Bitcoin, others come for that reason. It's indeed challenging to provide a basic understanding of Bitcoin when someone comes in solely for the profit gains shared by their friends on social media. The person sharing it on social media doesn't necessarily highlight the hard work they put in to achieve those results, and some see it as instant success.

It's not entirely wrong to view Bitcoin as a quick money gain, as it can be faster than investing in property or stocks. However, the problem lies in how people approach it, making Bitcoin not meet their expectations. They should understand the basics of Bitcoin first before making significant investment decisions just because they see their friends succeeding in the world of Bitcoin.

If someone invested a few hundred dollars in bitcoin 10 years ago and could hold on now, they would be a billionaire, so if bitcoin isn't a get-rich-quick investment, then what is it? Many people consider it a get rich quick scheme, meaning faster than gold or other investments, what's wrong with that? We ourselves enter the market, invest in bitcoin, we are also looking for quick wealth, let alone people who think like that. We all expect a 4 year cycle and besides bitcoin, what asset can grow 5-10 times in 4 years?

NewRanger

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Quote from: bayu7adi on November 28, 2023, 01:12:35 AM

It's not entirely wrong to view Bitcoin as a quick money gain, as it can be faster than investing in property or stocks. However, the problem lies in how people approach it, making Bitcoin not meet their expectations. They should understand the basics of Bitcoin first before making significant investment decisions just because they see their friends succeeding in the world of Bitcoin.

It's true bayu7adi that the stories about BTC investment are always dominant, but if you tell them about the bitterness and bitterness first, it will be even more interesting because it's possible that they will analyze it first and then after understanding how to enter and invest in BTC. But. If they quickly get the essence of investing in BTC, I think they will compete to accumulate it.

bayu7adi

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Quote from: Maslate on November 27, 2023, 04:58:56 PM

I should say only fools believe on bitcoin as a get rich quick. Even beginners have the idea that bitcoin is for long term investment, unless if they take it for granted and still insist that bitcoin could still offer them profits quickly.

But the reality is, sometimes the world of Bitcoin attracts new people who think that when someone gets rich quickly with Bitcoin, others come for that reason. It's indeed challenging to provide a basic understanding of Bitcoin when someone comes in solely for the profit gains shared by their friends on social media. The person sharing it on social media doesn't necessarily highlight the hard work they put in to achieve those results, and some see it as instant success.

It's not entirely wrong to view Bitcoin as a quick money gain, as it can be faster than investing in property or stocks. However, the problem lies in how people approach it, making Bitcoin not meet their expectations. They should understand the basics of Bitcoin first before making significant investment decisions just because they see their friends succeeding in the world of Bitcoin.

puloweh555

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Quote from: bangjoe on November 27, 2023, 08:37:33 AM

If the analysis I made, why do ordinary people about bitcoin know Bitcoin as a scheme for rich quickly is because trading activities that use leverage such as Future trading, using dozens of dollars with a increase of a few percent can have a large multiple of profits.

This is absolutely true. Those who are beginners or those who don't know about Bitcoin will definitely think like that because they will carry out active trading in Future Trading which we know is a get rich quick scheme and also a get poor quick scheme. because the profits you get are many-fold and it doesn't matter whether the price of bitcoin goes up or down. For me, this is like gambling, and usually people like this are impatient so they think BTC is a way to get rich in a short time.

Quote

I think this assumption is what concludes why people look like that, whereas in the fact that the spot investment cannot get tens of percent or hundreds of percent of their bitcoin, but with derivative products it can produce multiples that make a person able to make more money. Because however if you invest in Bitcoin spots we need investment with a long time to get a decent profit from Bitcoin.

Bitcoin is not complicated if you look at its advantages, and bitcoin is too complicated if you look at its disadvantages. bitcoin is a mutual cooperation financial system, investing in bitcoin certainly requires patience because usually the increase in the price of bitcoin will occur over 4-5 years. So those who want to get rich quickly in Bitcoin, it's better if they don't have to buy Bitcoin, because it's a big mistake for those who think Bitcoin is a get-rich-quick scheme.

Oasisman

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Quote from: Strongkored on November 27, 2023, 11:24:33 PM

Quote from: Ruttoshi on November 17, 2023, 04:08:03 AM

What is your thought on this.

The first information they get about Bitcoin will greatly influence their thinking about Bitcoin. If the information they get is that they can get rich with Bitcoin, of course, they will hope to get it quickly, but if the information they get is about Bitcoin technology and the future of Bitcoin, then of course that is what they hope for will be a variety of not only profits from price increases but other potential that can be obtained, that's why someone who wants to tell his colleagues about Bitcoin must convey the truth, not only the profits obtained but also the very agile price and the importance of security in storing it.

For some newbie bitcoin investors they knew how progressive bitcoin's price is from the past more than 10 years and that gave them an idea to put their money into it hoping to make millions in a couple of years. These are the same people who have lost interests at one point when bitcoin was struggling to recover due to the prolonged bear season. Worst thing was they sold every thing out of the FUD.
I know a lot of people were desperate to get rich quick, but this kind of carelessness will do more damage than profit regardless of how promising the investment instruments are.

peter0425

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Quote from: Seinlocko on November 27, 2023, 09:43:01 PM

Bitcoin is not a get rich quick scheme. People who think this can be said to be absolute are very wrong. Because bitcoin is an investment asset that is better invested in the long term. Because all this is clearly known, large increases in bitcoin prices usually always occur within a period of 4-5 years. This means that it is clear that the thoughts and opinions that say Bitcoin is a get-rich-quick asset scheme are completely wrong. So if people are going to start investing in Bitcoin but have such thoughts and opinions, they should change them as quickly as possible. Because if they don't change this, it could have a bad impact on the bitcoin investment they are running.

Don't worry because those people that keeps saying they can be instant millionaire in bitcoin are those people that keeps losing in the future because obviously they don't understand what they are entering?
because if you knew what is this market and how is this capable for sure you will not risk your money Hoping to becoming rich person when you woke up in the morning because this is a complete stupidity.
yes we can gain bigger here but we can also lose super big if we are not in the right position and decision , because volatility keeps hindering everyone from their targets , instead this sometimes change course to what we expect and what will come our way, capacity to wait and hold long term is the best solution though.

target

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Quote from: Strongkored on November 27, 2023, 11:24:33 PM

Quote from: Ruttoshi on November 17, 2023, 04:08:03 AM

What is your thought on this.

The first information they get about Bitcoin will greatly influence their thinking about Bitcoin. If the information they get is that they can get rich with Bitcoin, of course, they will hope to get it quickly, but if the information they get is about Bitcoin technology and the future of Bitcoin, then of course that is what they hope for will be a variety of not only profits from price increases but other potential that can be obtained, that's why someone who wants to tell his colleagues about Bitcoin must convey the truth, not only the profits obtained but also the very agile price and the importance of security in storing it.

After several bull runs that happened in the past where BTC holders became richer by posting wallets on their profile, it's usually the information they get. But I don't see that as negative, investors are usually what they aim for. It's to make money out of investment as BTC is an asset.

We may just look at it as negative because usually, get-rich-quick schemes are scams.

Strongkored

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Quote from: Ruttoshi on November 17, 2023, 04:08:03 AM

What is your thought on this.

The first information they get about Bitcoin will greatly influence their thinking about Bitcoin. If the information they get is that they can get rich with Bitcoin, of course, they will hope to get it quickly, but if the information they get is about Bitcoin technology and the future of Bitcoin, then of course that is what they hope for will be a variety of not only profits from price increases but other potential that can be obtained, that's why someone who wants to tell his colleagues about Bitcoin must convey the truth, not only the profits obtained but also the very agile price and the importance of security in storing it.

MarjorieZimmermanGinger

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Quote from: Ruttoshi on November 17, 2023, 04:08:03 AM

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.

If there is an investment that provides quick profits, why don't many people who have a lot of money get involved in it, that means understanding about investing quickly for profits is still a mystery that doesn't yet exist. Profits will be proportional to the capital we place and that is the simple logic for making profits in Bitcoin because when the capital we have is small the profits will never be bigger. Long term and short term are equally good once you understand how to do it and DCA is more focused on people who don't have a big budget to get involved.

Bitcoin will not provide a way for you to get rich quickly, but Bitcoin can improve your financial income level for the better. The method is done correctly and without ignoring the risk of price fluctuations because many people actually suffer losses due to panic and not investing based on correct knowledge.

Seinlocko

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Bitcoin is not a get rich quick scheme. People who think this can be said to be absolute are very wrong. Because bitcoin is an investment asset that is better invested in the long term. Because all this is clearly known, large increases in bitcoin prices usually always occur within a period of 4-5 years. This means that it is clear that the thoughts and opinions that say Bitcoin is a get-rich-quick asset scheme are completely wrong. So if people are going to start investing in Bitcoin but have such thoughts and opinions, they should change them as quickly as possible. Because if they don't change this, it could have a bad impact on the bitcoin investment they are running.

Smartvirus

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Quote from: WeThePe0ple on November 27, 2023, 04:11:40 PM

If a 30k investment (basically a car) in 2023 can make me a 1 million dollar reward by 2030, I call that get rich quick.
7 years is quick, and hodling doesn't require skills.

That’s the sort of approach I like to see people view it from.
Not displacing the possibilities but realizing that it could happen, if it must. Not a must but, if it does happen, you appreciate it for the time it took and you as well is ever ready and willing to do even more time to archive your set goals for it.
Even at that, it never means you would have to take profit because you see your investment all reading in the positive. You could as well wait on it to take you through your future. Bitcoin has come a very short way to be all worked up about the profit your might have seen in 5-7-10years.

Understand that there are potentials, as much as you hope not to be greedy, as much as you hope not to lose and as far as contentment goes, don’t let lack of patience or the merry you hope to merry today withhold you from that which you could achieve. be patient and let it continue to unravel in your life time.

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Quote from: Questat on November 27, 2023, 07:11:34 AM

Perhaps, it is a working strategy by most scammers that inject wrong information about Bitcoin. In this way, it drives the mindset of these innocent people that they will become rich instantly when investing in Bitcoin not knowing that every single mistake the consequences is huge, and possibly losing the entire money.

As we can see, a lot of people show interest in Bitcoin but once they start and see how the market works, many are quitting.

Apart from that, some Bitcoiners too, who happen to be lucky to invest in Bitcoin when the market was already heading to a bull market, and because their profit never took more than 2 years to come, might see it as if that's how it's supposed to be, while they only invest when the bull market is already near. Those kinds of people can advise a newbie to invest and hold for a short time, and they will make a profit, whereas they do not actually understand how the bull and bear markets can last. Some people know that we have a bull and bear market, but they think it's only happening over the course of a year. So, they get the information wrong, and they also pass it on to other newbies.

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Quote from: Questat on November 27, 2023, 07:11:34 AM

Quote from: Dr.Bitcoin_Strange on November 25, 2023, 03:59:03 PM

The way some people present Bitcoin to newbies who are interested in the technology, that's what makes them feel that Bitcoin is a get-rich-quick scheme. For example, you might ask a newbie to invest in Bitcoin, telling them that they will make a big profit in the next bull market. They might invest the way you have asked them to, but they might not actually know what the bull and bear markets are. They might not be able to handle the volatile nature of the market. But for the experienced Bitcoiners, they're all aware that Bitcoin is not a get-rich-quick scheme; Bitcoin investment takes time for you to reap your profit.

Perhaps, it is a working strategy by most scammers that inject wrong information about Bitcoin. In this way, it drives the mindset of these innocent people that they will become rich instantly when investing in Bitcoin not knowing that every single mistake the consequences is huge, and possibly losing the entire money.

As we can see, a lot of people show interest in Bitcoin but once they start and see how the market works, many are quitting.

Scammers also take advantage of it to immediately plant in the minds of those who don't know about Bitcoin that you can easily get rich here if you believe what they say. And because of the difficulty of life that we are going through now, most of them still believe in these stories, or they are immediately hyped by the greed that enters their thoughts.

But in reality, or the reality of life, it is not easy to earn or have Bitcoin in this industry because just learning Bitcoin is not easy to understand, and there are things that must be considered to understand it honestly. It means that it is not true that it is easy to get Bitcoin because you cannot get rich with it, and this is true in this industry.

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Quote from: WeThePe0ple on November 27, 2023, 04:11:40 PM

If a 30k investment (basically a car) in 2023 can make me a 1 million dollar reward by 2030, I call that get rich quick.
7 years is quick, and hodling doesn't require skills.

This analogy is quicker to be compared when bitcoin was new. The word quick is subjective and anything that happens within the spna of 1yr doesn't happen quick. Getting rich quickly might mean someone who is unable to pay rent this month, being able to own house next month.

In a nutshell, bitcoin is not a get rich quick scheme and there's no investment that is get rich quick investment. If there is, someone should please point my attention to it.

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Quote from: Questat on November 27, 2023, 07:11:34 AM

Quote from: Dr.Bitcoin_Strange on November 25, 2023, 03:59:03 PM

The way some people present Bitcoin to newbies who are interested in the technology, that's what makes them feel that Bitcoin is a get-rich-quick scheme. For example, you might ask a newbie to invest in Bitcoin, telling them that they will make a big profit in the next bull market. They might invest the way you have asked them to, but they might not actually know what the bull and bear markets are. They might not be able to handle the volatile nature of the market. But for the experienced Bitcoiners, they're all aware that Bitcoin is not a get-rich-quick scheme; Bitcoin investment takes time for you to reap your profit.

Perhaps, it is a working strategy by most scammers that inject wrong information about Bitcoin. In this way, it drives the mindset of these innocent people that they will become rich instantly when investing in Bitcoin not knowing that every single mistake the consequences is huge, and possibly losing the entire money.

As we can see, a lot of people show interest in Bitcoin but once they start and see how the market works, many are quitting.

But the one that contributes more to the wrong idea to new in bitcoin or crypto currency about they can earn large amount in short term or quickly is by those hype, many people or posters in different social media flexing their earnings in bitcoin or in other coins, they are showing how easily a person could earn in this industry without putting the context or the process they only showing the result which could give a hype to anyone that could see it and they will be urge to enter in bitcoin also, there's nothing wrong with that, many investors more opportunities but they are entering to something that the information they have is wrong or not right, we should stop flexing or posting our achievements in bitcoin or cryptocurrency without context or the process on how we get it, we don't intent to scared them about how difficult this industry is, we just want to ensure that they know how risky this is, to avoid losing investments.

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Not only bitcoin but majority of investments are not actually get rich quick. The reality is there's no investment that will provide profits in just a blink of an eye. Everything should be worked hard at first until your investment get flourish and become progressive and profitable. Same also happens for bitcoin, you need to hold it for long term without getting bothered by the negative factors in the market that will affect the price and create a decline. Without patience, you will fall into panic selling and lose your expected future profits of your investment.

I should say only fools believe on bitcoin as a get rich quick. Even beginners have the idea that bitcoin is for long term investment, unless if they take it for granted and still insist that bitcoin could still offer them profits quickly.

kawetsriyanto

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Quote from: bangjoe on November 27, 2023, 08:37:33 AM

If the analysis I made, why do ordinary people about bitcoin know Bitcoin as a scheme for rich quickly is because trading activities that use leverage such as Future trading, using dozens of dollars with a increase of a few percent can have a large multiple of profits.

I think this assumption is what concludes why people look like that, whereas in the fact that the spot investment cannot get tens of percent or hundreds of percent of their bitcoin, but with derivative products it can produce multiples that make a person able to make more money. Because however if you invest in Bitcoin spots we need investment with a long time to get a decent profit from Bitcoin.

Future trading can make people to earn big profits but it also can make people to lose all their money. Instead of being rich people quickly, it also can make people to be poor people in a day. I don't think future trading is a safe way of being rich quickly, it is almost the same as gambling. You gamble your money with crypto coins by trading future. It is what I can conclude from the future trading. Undecided

Spot investment? Do you mean spot trading?
Sure, spot trading is a safer trading type. Most people actually choose spot trading because it is safe and familiar for everyone. If you fail taking profits in spot trading, you can keep the coins and wait for the bullrun season to sell the coins. There are many options to do in spot.

WeThePe0ple

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If a 30k investment (basically a car) in 2023 can make me a 1 million dollar reward by 2030, I call that get rich quick.
7 years is quick, and hodling doesn't require skills.

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