Topic: Bitcoin is not a quick rich and get poorer investment. - page 9. (Read 1652 times)
Bitcoin won’t make you poor unless you have weak hands. Motivational speakers say that it is when you quit that you have lost. And this is the truth in cryptocurrency as a whole. Like Bitcoin, you can only say you’ve lost when you actually quit and sell because, even if the value of Bitcoin reduces, you’ll still have the same fraction or quantity you had. It’ll now be a game of patience because that same quantity can go back to the amount you purchased it for, and can often go even higher to give you profits. It all depends on the patience and luck. Luck because you could be lucky and you don’t have to wait for long like someone else.
Bitcoin cannot not make you poor when you know what you are doing and is more valuable and can make you rich when you wisely trade in futures.
while i think that investing in bitcoin still has its own risks, it’s relatively safer than most altcoins most people think that bitcoin’s volatility makes it risky for investment but when you know how to read and analyze a market and strategize based on what you’ve observed you’ll have no problems in getting your profit out of the market
At some levels yeah, bitcoin is indeed a long-term commitment rather than a short-term affair that you use to make a quick buck. For the most part, you have to time your buys or your short sellings correctly, to make sure that you don't shoot yourself in the foot. But that doesn't mean that you can't make money in the cryptocurrency industry this way, matter of fact, a lot of people earn money from spot trading.
I get what you're trying to convey, and honestly speaking I stand by this hill as you guys are too. But forcibly putting your vision of how bitcoin should work upon others would seriously hurt bitcoin, and the industry as a whole. Imagine if everyone just held crypto and never sold, we'd all look like idiots here. Imagine if the market stood still and everyone just waited for someone to break the ice, isn't that a little too uneventful and depressing?
I get what you're trying to convey, and honestly speaking I stand by this hill as you guys are too. But forcibly putting your vision of how bitcoin should work upon others would seriously hurt bitcoin, and the industry as a whole. Imagine if everyone just held crypto and never sold, we'd all look like idiots here. Imagine if the market stood still and everyone just waited for someone to break the ice, isn't that a little too uneventful and depressing?
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Are you just knowing this now, or are you telling people who are not yet aware of it? The funny thing is that from the first topic that was created this week, a user made a statement, and that statement happens to be exactly your topic, and it's not a coincidence that you are creating this topic, not because you never saw those comments; you should have just dropped this post right on that first topic instead of starting this new one.
Remember that no one gets rich in a short time unless you bet on the lottery or win a lot of money in gambling. Before someone gets rich, everyone waits a long time before they actually get there.
So if you want to get rich through Bitcoin, you must be prepared to wait a while before it happens, and you must also have at least holdings of at least 1 bitcoin, as some communities say here on this forum platform. Or it can also be with other cryptos that also have the potential to provide profit in the future, such as Binance, Ada, Matic, and other cryptos that are top-listed in the market.
Problem is with people's impression towards this industry and Bitcoin itself. They have high expectations due to market price volatility but never considered its risk more than anything else.Many people gained huge profit from the previous all time high which quite gave them the idea that you could be rich quickly from investing into it. As we all know and as others have already said, no success has been done in a single night. Patience will be always needed not only with Bitcoin but also with other tokens in this market.There are also right entry points which would help you maximize the profit if you are just planning to invest at that point. So if you want to get rich through Bitcoin, you must be prepared to wait a while before it happens, and you must also have at least holdings of at least 1 bitcoin, as some communities say here on this forum platform. Or it can also be with other cryptos that also have the potential to provide profit in the future, such as Binance, Ada, Matic, and other cryptos that are top-listed in the market.
Investing before a potential bull run is good. It can give you profit early. But hodling for a longer period of time is even better. As everyone says, hodling is the key. It has its advantages but also remember, never marry your wallet. There will be times when you can get profit from your investment. If you are wise enough, you will take that opportunity to make profits. Then you can invest again to accumulate more BTC at a lower price. Then you can HODL again for a longer period of time.
It's all about finding the opportunity and taking advantage of it. Failing to do so will lead to loss or no profit at all. And yes, this takes time. It doesn't happen overnight.
It's all about finding the opportunity and taking advantage of it. Failing to do so will lead to loss or no profit at all. And yes, this takes time. It doesn't happen overnight.
Bitcoin cannot not make you poor when you know what you are doing and is more valuable and can make you rich when you wisely trade in futures.
while i think that investing in bitcoin still has its own risks, it’s relatively safer than most altcoins most people think that bitcoin’s volatility makes it risky for investment but when you know how to read and analyze a market and strategize based on what you’ve observed you’ll have no problems in getting your profit out of the market
Remember that no one gets rich in a short time unless you bet on the lottery or win a lot of money in gambling. Before someone gets rich, everyone waits a long time before they actually get there.
So if you want to get rich through Bitcoin, you must be prepared to wait a while before it happens, and you must also have at least holdings of at least 1 bitcoin, as some communities say here on this forum platform. Or it can also be with other cryptos that also have the potential to provide profit in the future, such as Binance, Ada, Matic, and other cryptos that are top-listed in the market.
So if you want to get rich through Bitcoin, you must be prepared to wait a while before it happens, and you must also have at least holdings of at least 1 bitcoin, as some communities say here on this forum platform. Or it can also be with other cryptos that also have the potential to provide profit in the future, such as Binance, Ada, Matic, and other cryptos that are top-listed in the market.
Bitcoin investment is an investment you start early and take time to grow, discipline, monitor with patient to enable your target of investment excel and you can only make this investment when you patiently elongate it to enable you flourish well to the extend that when you harvest your profit from the investment it will still be progressing and not when you invest in six months time and you are inquisitive to get your profit in eight months time its wrong and getting patient to achieve what you invest is a good helping hands for future and at least when you invest in six months time you get your profit in one or two years or more for your effort to be reasonable and bear in mind that Bitcoin is not altcoin that can be hype or where many altcoins are built based on the basic structure provided by Bitcoin, Bitcoin cannot not make you poor when you know what you are doing and is more valuable and can make you rich when you wisely trade in futures.
Thanks for the lecture but we have read that thousand times before though it is always healthy to remind the community about what they need to remember and that is the most important thing here and also thank you for reminding everyone , but sometimes we have to put not just typing but also proving that we support and holding bitcoin.have you bought and hold bitcoin?if not then try not to buy first and add some actual support for the network.
though Yes Bitcoin is not for fast profit but this is the most safety and assured way to invest.
Gambling can make you rich overnight but that's if you are ready to pay the price, because you can also turn poor with gambling that's why I won't recommend it, apart from illegal activities nothing can make you rich overnight, it's either it's crime or fraud or killing people for money.
When it's all about legit ways to make money it's going to take a long time and that long time is what many people aren't prepared for, people are obsessed with making money fast and that's why they never win anything, if some get rich quick offer is brought to you it's better to run.
The volatility of Bitcoin is a big opportunity for me, I have never for once doubt on Bitcoin, I have full confidence that you can only be at loss if you sell for cheap price or if you are careless with your private key.
When it's all about legit ways to make money it's going to take a long time and that long time is what many people aren't prepared for, people are obsessed with making money fast and that's why they never win anything, if some get rich quick offer is brought to you it's better to run.
The volatility of Bitcoin is a big opportunity for me, I have never for once doubt on Bitcoin, I have full confidence that you can only be at loss if you sell for cheap price or if you are careless with your private key.
Like any other investment, buying Bitcoin and getting profit from your BTC investment will take time. Take the example of a property or a car; if you buy the property you have to wait for a few years to get a good profit. The same is true for Bitcoin.
Bitcoin investment is a long-term thing, and you have to hold it for a significant period to get a handsome amount of profit. The majority of the investors are going for a long-term plan. One thing that makes Bitcoin Investment different from others is its ROI. If you bought BTC a decade ago, you might be a millionaire by now.
Bitcoin investment is a long-term thing, and you have to hold it for a significant period to get a handsome amount of profit. The majority of the investors are going for a long-term plan. One thing that makes Bitcoin Investment different from others is its ROI. If you bought BTC a decade ago, you might be a millionaire by now.
If you’re promised that you’ll get rich overnight then that is already a big sign of red flag. No great investment that will last long can be achieved overnight. You have to put in hardwork and patient before it can happen. As in the case of bitcoin, you have to be patient and not to take the wrong move that will cost you to lose your investment. Bitcoin has been ascertain from prior years that it will grow overtime, so having patient in this investment while leaving your money to grow in the long run is the best thing to do. Bitcoin can make you rich if you invest for a long time and can make you lose interest in it if you don’t do right thing that is expected of you.
Bitcoin cannot not make you poor when you know what you are doing and is more valuable and can make you rich when you wisely trade in futures.
Bitcoin can make its holders poor, because there's no mechanism that prevents it from crashing. Its price is dictated by supply and demand, and those are not predictable, because no one knows how people will behave. It's entirely possible that someone will put all their savings or wealth into Bitcoin and then it will crash and ruin their life.
So far Bitcoin was on average going only up, but there's really no good explanation why, and without understanding it we can't know for how much longer it will keep growing and what will happen after it stops.
To be fair, bitcoin is just a financial market like the gold or stock market , it can also make us rich or it can also make us poor. Whether we succeed or fail depends entirely on us, not bitcoin. Bitcoin is still classified by the financial world as a high-risk asset because its volatility and adoption level are not large enough. So it would be biased against bitcoin to say that bitcoin is risk-free.
Even though bitcoin is over 15 years old , to be honest , the risks of bitcoin are still huge when compared to other traditional assets. But the higher the risk, the higher the profit.
Bitcoin cannot not make you poor when you know what you are doing and is more valuable and can make you rich when you wisely trade in futures.
Bitcoin can make its holders poor, because there's no mechanism that prevents it from crashing. Its price is dictated by supply and demand, and those are not predictable, because no one knows how people will behave. It's entirely possible that someone will put all their savings or wealth into Bitcoin and then it will crash and ruin their life.
So far Bitcoin was on average going only up, but there's really no good explanation why, and without understanding it we can't know for how much longer it will keep growing and what will happen after it stops.
I've been around for almost 10 years, and I never got the grandest of mansions or the fanciest of cars. I offloaded coins along the way, mostly due to necessity, and partly due to the fear of bitcoin not getting to the same levels anymore. It was hard, but thankfully I still have a couple of bitcoins left in my arsenal that I will store for years to come.
Apart from the get-rich quick mindset of people nowadays, lack of self-control and trusting their own emotions instead of looking at what the data tells us is what pushes most to lose their initial investment. People are so quick to sell nowadays during the reds in order to 'mitigate the losses' that they will incur, when in reality (and this is backed by years of trading data) that is just the normal fluctuations of the price in play.
I don't blame them if they sell and want to keep a portion of their money, but they must know that bitcoin is a highly volatile asset, and that wild fluctuations are normal even without a reason.
Apart from the get-rich quick mindset of people nowadays, lack of self-control and trusting their own emotions instead of looking at what the data tells us is what pushes most to lose their initial investment. People are so quick to sell nowadays during the reds in order to 'mitigate the losses' that they will incur, when in reality (and this is backed by years of trading data) that is just the normal fluctuations of the price in play.
I don't blame them if they sell and want to keep a portion of their money, but they must know that bitcoin is a highly volatile asset, and that wild fluctuations are normal even without a reason.
Bitcoin cannot not make you poor when you know what you are doing and is more valuable and can make you rich when you wisely trade in futures.
Bitcoin can make its holders poor, because there's no mechanism that prevents it from crashing. Its price is dictated by supply and demand, and those are not predictable, because no one knows how people will behave. It's entirely possible that someone will put all their savings or wealth into Bitcoin and then it will crash and ruin their life.
So far Bitcoin was on average going only up, but there's really no good explanation why, and without understanding it we can't know for how much longer it will keep growing and what will happen after it stops.
The problem is that most people are introduced to Bitcoin with the wrong information. When they see Bitcoin volatile, they think of quick-rich schemes. So they jump into it without further research. So due to a lack of knowledge, we are missing some important things related to Bitcoin. We have to invest so that we can afford to lose. Otherwise, we can't hold it for a long time in the event of a dump in the Bitcoin price. Also, it's an important part of bitcoin investment to know how it works. So if we know everything related to Bitcoin, we may not consider it a quick-rich method.
For me, most of the assets are like Bitcoin, like the stock market or gold/silvers. The only difference with Bitcoin is high volatility.There are also a lot of people that expect this and that even in non-bitcoin assets and some of them are losing money, so for me, I can see it is fair.
Bitcoin cannot not make you poor when you know what you are doing and is more valuable and can make you rich when you wisely trade in futures.
I would not advise newbies to start futures trading, they could easily get liquidated. A less risky strategy and also profitable would to buy and hodl bitcoins for long term than actively trading. I think you can do a lot better with your writing. Adding punctuation where necessary gives the reader a better understanding of the subject matter and helps them to understand what they are reading in the text.
Not only newbies but even those who have been investing in bitcoin for a long time should stay away from futures trading because it is no different from gambling. If it's a spot trade, I think there will be no problem, but if it's a futures trading, we should stay away from it completely.
OP says bitcoin is not a get rich quick scheme but thinks futures trading is a way to make a profit. That's quite contradictory because those who engage in futures trading intend to get rich quickly.
But honestly, I have never seen anyone get rich from trading. The rich people we know are mostly early investors or long-term holders.
As far as I know, all investments require time for the investment to grow and provide good profits. This also applies to bitcoin, so just like other investments, bitcoin also takes time to become more expensive. However, you need to remember the risks that bitcoin has because of the volatility of the bitcoin price, one of the most frequently encountered risks is a significant drop in price and this is the most difficult time for us to be able to survive and hold bitcoin, going through times like that is not an easy thing.
Imagine if we buy bitcoin for $50k but in 3 months the price drops to $30k and doesn't increase for 1 year. We must be prepared to face this risk and not rush to sell the bitcoins we own because historically bitcoin can always touch a new ATH every few years. So we still need emergency money so that if there is a situation that suddenly requires money it doesn't force us to sell our bitcoins at a loss
Imagine if we buy bitcoin for $50k but in 3 months the price drops to $30k and doesn't increase for 1 year. We must be prepared to face this risk and not rush to sell the bitcoins we own because historically bitcoin can always touch a new ATH every few years. So we still need emergency money so that if there is a situation that suddenly requires money it doesn't force us to sell our bitcoins at a loss
Nothing will make you rich overnight, not just Bitcoin investing. Investing is never a get-rich-quick scheme. Investing in cryptocurrency can change people's fortunes but not in a short period of time. Invest enough in Bitcoin and hold that investment for a long period of time and you will have hope of getting something good. Investing is only for the future and with the expectation of getting something good in the future, investing in Bitcoin will stop all other activities, but this is not the case. Apart from investing in bitcoins, you should also carry on with your other activities as normal. If you have enough investment and the market goes up as expected then this investment can change your fortune.
For what I can tell people often mix the terms investing and trading, they believe that what they are doing which is to buy an asset and sell it days, weeks or even months afterwards is investing and this is not true, they are just trading the markets with different time frames, an investor at minimum needs to think in terms of years, and the longer they can hold the better the results, so if someone invested in bitcoin now and kept doing so for the next decade, the results they will get out of their investment will be great, unfortunately there are very few people willing to be this constant for such a long period of time. Jump to: