Crypto is not a get rich quick ponzi

nakamura12

hero member

Activity: 2268

Merit: 669

Bitcoin Casino Est. 2013

Quote from: ethereumhunter on January 15, 2020, 08:33:59 AM

New people attract to crypto because they read from the story that crypto can give them a big profit in a short time. But they don't know the truth, so they decide to buy bitcoin at a random price, but suddenly, the price does not increase as they want. If they can spend time to learn about the bitcoin market, they will see that crypto is not a quick way to get rich. They need to learn how to analyze and get at the right time so they can see the chance to make a profit in the short term and long term.

We hope that the other new people can learn from people's mistakes, so they can learn more and do research and analyze before they buy bitcoin. Only with that will allow them to make money from bitcoin.

Sad but true. I think that those people you mention are looking for a way to earn quick money because they read a story about bitcoin that people can earn money. Well, I think it is better that there is no story like that so people won't just buy bitcoin without proper knowledge whatsoever to not lose money.

Theb

hero member

Activity: 1680

Merit: 655

I'll understand it if they have holdings of Bitcoin before hand and they are just buying on breakout now to take advantage of the price pump, at least they still have a margin of safety involved which gives them space for errors. But what I don't understand is the newbies who are buying because of the hype and and sudden price increase. They immediately doubled the risk as they are trying to catch an already moving train. If you really don't like to study technical analysis my advice is for you to just buy Bitcoin when nobody else in the market is buying it and when the price is already at the bottom, these just gives you a very good position on the next bull cycle.

sheenshane

legendary

Activity: 2492

Merit: 1232

Quote from: sovie on January 16, 2020, 03:28:01 AM

Warren Buffet said "buy when everyone fears to buy and sell everyone is running to buy."

You're probably a fan of Warren Buffett and it seems sounds familiar at me, this line of words reminds me also on Warren Buffett's famous rule. "Be fearful when others are greedy, and be greedy when others are fearful".

Investing in crypto is not easy money, you need to wait patiently either in a long term or short term period of time, once this will fluctuate the price move also either down or up. Volatility is an asset of crypto that there are massive adoptions and hoping to gain profit.
Let me also drop here a Warren Buffett quote "I don't look to jump over seven-foot bars: I look around for one-foot bars that I can step over." . In my own understanding, we should have a patient and don't expect quick profit in a short period of time and most especially crypto is not a Ponzi scheme.

sovie

sr. member

Activity: 1274

Merit: 265

Warren Buffet said "buy when everyone fears to buy and sell everyone is running to buy."

But nobody pays attention to his quote. We always do reverse and get struck. Take example of Bitcoin SV for instance, it was 170$ on 14 Jan 2020 and pumped to 440$ on 15 Jan 2020. Everyone start buying that and its now going down again.

LbtalkL

full member

Activity: 1176

Merit: 162

You are right, But for me cryptocurrency are not just about money, get rich whatsoever. It is a life changing creation that unites different people around the world thru blockchain. It is both good and bad investment, as we all know there are so many sh*tcoins that exist on the market it is our task to determine them but it is hard sometimes.

ethereumhunter

hero member

Activity: 2912

Merit: 541

Leading Crypto Sports Betting & Casino Platform

Quote from: Wysi on January 12, 2020, 03:43:19 AM

The reason I have come up with this topic now is for the fact that the value of bitcoin has been good from past one week or so and this is the time when most of the newbies end up buying at peak assuming they will get huge return on investment very quick just like they thought for 2017 bull run without understanding how crypto works and ended up being the losers or panic sellers. I urge everyone to take a moment and do research before investing.

New people attract to crypto because they read from the story that crypto can give them a big profit in a short time. But they don't know the truth, so they decide to buy bitcoin at a random price, but suddenly, the price does not increase as they want. If they can spend time to learn about the bitcoin market, they will see that crypto is not a quick way to get rich. They need to learn how to analyze and get at the right time so they can see the chance to make a profit in the short term and long term.

We hope that the other new people can learn from people's mistakes, so they can learn more and do research and analyze before they buy bitcoin. Only with that will allow them to make money from bitcoin.

secone

hero member

Activity: 700

Merit: 501

Quote from: Wysi on January 12, 2020, 03:43:19 AM

The reason I have come up with this topic now is for the fact that the value of bitcoin has been good from past one week or so and this is the time when most of the newbies end up buying at peak assuming they will get huge return on investment very quick just like they thought for 2017 bull run without understanding how crypto works and ended up being the losers or panic sellers. I urge everyone to take a moment and do research before investing.

this is reality, people who see greeenbull will buy bitcoin and hope bitcoin rise again, and sell it by panic when he see reddump.
some people in crypto trader just a "trader" who never see any technology behind it .

agentx44

sr. member

Activity: 756

Merit: 268

Quote from: Wysi on January 12, 2020, 03:43:19 AM

The reason I have come up with this topic now is for the fact that the value of bitcoin has been good from past one week or so and this is the time when most of the newbies end up buying at peak assuming they will get huge return on investment very quick just like they thought for 2017 bull run without understanding how crypto works and ended up being the losers or panic sellers. I urge everyone to take a moment and do research before investing.

Crypto won't make you rich as fast as you want it too not unless you invested way back when its price is still very low and you were able to hold it up until the bull run last 2017. From that you can be an instant billionaire for sure but if you are just a newbie and you are making actions based on your emotions which tells you that bitcoin will continue to rise up, you better think it through. The halving is near and a bull run is expected but still you should make sure that your investment is secured and you have a back up plan if ever things wouldn't go how you want it to.

Taskford

hero member

Activity: 2520

Merit: 783

Quote from: aioc on January 15, 2020, 03:35:34 AM

Quote from: Wysi on January 12, 2020, 03:43:19 AM

The reason I have come up with this topic now is for the fact that the value of bitcoin has been good from past one week or so and this is the time when most of the newbies end up buying at peak assuming they will get huge return on investment very quick just like they thought for 2017 bull run without understanding how crypto works and ended up being the losers or panic sellers. I urge everyone to take a moment and do research before investing.

Not only doing research but also remembering that, you need to invest what you can afford to lose and remember that the market is very volatile and you have to expect the unexpected, only invest in coins with proven usability and not new coins that just come out of the market.

That's why for newbie who want to start in this market situation better for them to start with BTC and learn with the flow of the market since by this they can get a experience on how trades works and they can assure also that they are not into dump and pump scheme coins where mostly scam there traders and supporters.

Negotiation

sr. member

Activity: 1204

Merit: 270

Hire Bitcointalk Camp. Manager @ r7promotions.com

Crypto is not a rich fast currency because Bitcoin is one of the many currencies in Crypto To work in crypto, you have to work time consecutively which is very risky for newcomers This is why we should take some time to research before investing in crypto then we should move forward.

aioc

hero member

Activity: 2926

Merit: 567

Quote from: Wysi on January 12, 2020, 03:43:19 AM

The reason I have come up with this topic now is for the fact that the value of bitcoin has been good from past one week or so and this is the time when most of the newbies end up buying at peak assuming they will get huge return on investment very quick just like they thought for 2017 bull run without understanding how crypto works and ended up being the losers or panic sellers. I urge everyone to take a moment and do research before investing.

Not only doing research but also remembering that, you need to invest what you can afford to lose and remember that the market is very volatile and you have to expect the unexpected, only invest in coins with proven usability and not new coins that just come out of the market.

harizen

legendary

Activity: 3122

Merit: 1398

For support ➡️ help.bc.game

Quote from: Wysi on January 12, 2020, 03:43:19 AM

The reason I have come up with this topic now is for the fact that the value of bitcoin has been good from past one week or so and this is the time when most of the newbies end up buying at peak assuming they will get huge return on investment very quick just like they thought for 2017 bull run without understanding how crypto works and ended up being the losers or panic sellers. I urge everyone to take a moment and do research before investing.

Who are these "most newbies"? Where did you see the data?

To my own observation, at least, today's new players do have a reference now compared to what happened last 2017 bull run where only a few anticipated of the big crash that's why continuous accumulation even on that high price was encouraged. Today, they already know that a big crash may happen anytime even in the middle of the peak. And to those who got wrecked last 2017, no way they will just easily put money on bitcoin again after they witnessed and experienced the wrath of the bear market.

As far as the latest price is a concern, I don't see any wrong movement if newbies will consider buying at this price rate even price will crash to $6,000 tomorrow or next month although it wasn't likely to happen*. But of course, it was obvious that before putting money on something, there should be considerations.

"Investing in crypto" is not the same as the usual investment we have known in general.

Upgrade00

legendary

Activity: 2114

Merit: 2248

Playgram - The Telegram Casino

~~Crypto~~ Bitcoin is not a get rich ~~quick~~ scheme at all. Making people rich is not the fundamental purpose of bitcoin. It is primarily meant to be used for pair to pair transactions and allow users to transact without a third party. It's volatile price is a bonus for both long and short term traders.

Some users are down by almost half of their investments from the 2017 bull run, and many would have cut their losses already, but, 'it's not a loss until you sell'.
So if one thinks this is the best time (price) to get into bitcoin, it may not be a bad idea. The best advice is to do sufficient research before investing in any financial venture.

DannyHamilton

legendary

Activity: 3472

Merit: 4801

Bitcoin has risks. Bitcoin has potential. From everything I've seen and heard over the past 8 years since I discovered Bitcoin, I believe the potential VASTLY outweighs the risks.

If you have 0 bitcoin and it lives up to its potential, you've suffered a disaster (because you've missed out on an amazing opportunity).

If you have your entire life savings in bitcoin and it falls to its risks, then you've suffered a disaster (because you no longer have the resources to take advantage of other opportunities).

It seems obvious to me, that the right answer is to manage your risk based on your personal risk tolerance. Own enough bitcoin that you'll reap worthwhile benefits if bitcoin lives up to its potential, but not so much that you'll suffer significantly if it falls to its risks.

shedir

newbie

Activity: 7

Merit: 0

Easy money doesn't exist, and even when it happen, people that get rich quick generally can't handle it. I've lived it myself, and learnt the lesson from experience

gentleman2019

newbie

Activity: 25

Merit: 27

And related advice: never invest more than you can afford to lose - in any investment really, and be especially careful with something as volatile as crypto.

msarro

hero member

Activity: 788

Merit: 505

Everyone feel that since bitcoin is going up, lets buy bitcoin and we will sell this when bitcoin will go further high. With this mind set many buy bitcoin and spend rest of their time cursing the bearish market. Bull market is always recommended for selling while bear market is recommended for buying.

mk4

legendary

Activity: 2870

Merit: 3873

Paldo.io 🤖

Quote from: ?? on ??

What research is left before investing in bitcoin? It has proven itself to be exactly what it claims to be.

Actually knowing what they're investing in. Like sure, we're mostly bullish on bitcoin here, but I would never tell a certain person to buy bitcoin even though I really am truly bullish. High risk investments is really not for everyone; and to add to that, in general, investing(or speculating) in something you really don't know much about is mostly a really bad idea even though the investor still ends up profiting in the end.

UserU

hero member

Activity: 2128

Merit: 532

FREE passive income eBook @ tinyurl.com/PIA10

Quote from: noormcs5 on January 12, 2020, 08:56:44 AM

More often the opposite of this happens. People are forced to buy high and sell low because of lack of faith in crypto and no patience.
I everyone has patience and power to hold, no one will lose in crypto. It is still the most profitable investment than stocks and Forex.

That wouldn't be healthy if no one's willing to buy. No money getting pumped in Cheesy

jossiel

hero member

Activity: 3150

Merit: 636

DGbet.fun - Crypto Sportsbook

Bitcoin is pumping and dumping and that's not an attitude of a ponzi because it will never go down. There's balance in bitcoin's ecosystem that's why it is not a ponzi unlike the people that haven't invested yet because it's the definition they think about bitcoin.

End of 2017 was full of hype and many thought that it's an overnight success for them. Lucky for those that got that opportunity but regret and sorry for those that were with us in the losing side because we held in 2018. I think newbies can now understand what bitcoin is after seeing it during the bear market.

Topic: Crypto is not a get rich quick ponzi (Read 398 times)