This is something that I try and tell my friends/family/clients all of the time. Most people are just completely ignorant with finances, let alone a brand new type of currency that's digital and runs on a blockchain. So many just expect to get in and make a ton of money right away. I try and educate people so they can understand that that's not what bitcoin is all about.
Honestly I hate when the only reason people are "in" to bitcoin is solely for making money. That's not what it's supposed to be about.
Topic: Give Bitcoin investment time - page 5. (Read 902 times)
While educating people about Bitcoin, I think it is wise we tell them Bitcoin need time to yield profit, let us change our approach in sharing Bitcoin knowledge so that people will not come into Bitcoin with the mindset of get-rich-quick.
The first investment that investors need to make before investing in Bitcoin is to learn all the advantages and disadvantages of Bitcoin. The most important capital is knowledge, not money. When you fully understand the nature of Bitcoin, you will be wiser in responding to Bitcoin market conditions. Patience, time and emotional control can help you become a successful investor. Bitcoin is not a get rich quick scheme, if you make the wrong decision, you will lose all the capital allocated to invest.
What you say is truly wise and very true because any investor will always go astray if they only have capital and are determined to invest without considering knowledge and controlling their emotions. I also really agree with the expression that Bitcoin is not a get-rich-quick scheme, because this must be understood by everyone and all investors so that they do not misinterpret the nature of Bitcoin itself. And most beginners and novice investors often misinterpret this so they rely more on money and emotions than on knowledge and patience when investing. And such people will usually also very easily blame Bitcoin when they experience losses through their own investments.Bitcoin is a get rich faster scheme if we compare it with other investments like gold, stocks or real estate. Bitcoin is more volatile and has a higher growth rate than them, that's why we choose bitcoin, but it is not an investment that can make us rich in just a few months or in a year as many people are thinking.
In investing, knowledge and capital are equally important. If we only have capital but no knowledge, we will only enter the market as food for sharks. But if we only have knowledge without capital, knowledge will become useless if not applied in practice. There needs to be a balance between the two to produce the best results.
[...] let us change our approach in sharing Bitcoin knowledge so that people will not come into Bitcoin with the mindset of get-rich-quick.
It's natural because when compared to stocks, the price movements of Bitcoin are undeniably more volatile. This is what leads them to believe that every Bitcoin investment should yield quicker profits compared to other investment models. However, it's essential to underscore that the substantial increase in Bitcoin's price is most apparent when held for a longer period. It's proven that Bitcoin investment took 12 years to surge from $1 to $60k.This is what fuels their high expectations for Bitcoin. However, it's also crucial to consider the risks one might encounter when deciding to buy Bitcoin. Bearish markets can occur at any time, and even newcomers typically have weak hands and uncontrolled emotions when the market turns bearish.
When people start up a company, they give it some years before they expect profits. Most times they even re-invest their profits to expand and build their company to the standard they desire and this requires time. Furthermore, when people buy stocks of a company or make investment in businesses, they give it time which run into years before they expect profits.
Unfortunately, when people buy Bitcoin, they expect huge profits within a short period of time. This is the source of panic and fud that is exhibited by many Bitcoin investors.
While educating people about Bitcoin, I think it is wise we tell them Bitcoin need time to yield profit, let us change our approach in sharing Bitcoin knowledge so that people will not come into Bitcoin with the mindset of get-rich-quick.
Probably those people who thinks that they can earn huge profits from bitcoin in a short time lacks education or knowledge in bitcoin. Those people are the one who are getting eaten by the market and most likely on a loss before they quit. Comparing to other asset like stocks and forex, bitcoin is way too volatile that you can gain fast profits really but there are people who really are over expecting. Maybe they saw people who got rich so quickly by doing crypto which is I think during the bull market. This is why educating people is important in bitcoin or in crypto in general. Unfortunately, when people buy Bitcoin, they expect huge profits within a short period of time. This is the source of panic and fud that is exhibited by many Bitcoin investors.
While educating people about Bitcoin, I think it is wise we tell them Bitcoin need time to yield profit, let us change our approach in sharing Bitcoin knowledge so that people will not come into Bitcoin with the mindset of get-rich-quick.
Absolutely, education is the foundation of smart and sustainable investing. Rushing for quick profits can often lead to losses and frustration. It's essential to take the time to learn, understand the markets, and develop a well-thought-out investment plan. Start small, gain experience, and gradually increase your investments as you become more confident. Remember, investing is a long-term game, and it's all about informed decision-making.
The first investment that investors need to make before investing in Bitcoin is to learn all the advantages and disadvantages of Bitcoin. The most important capital is knowledge, not money. When you fully understand the nature of Bitcoin, you will be wiser in responding to Bitcoin market conditions. Patience, time and emotional control can help you become a successful investor. Bitcoin is not a get rich quick scheme, if you make the wrong decision, you will lose all the capital allocated to invest.
What you say is truly wise and very true because any investor will always go astray if they only have capital and are determined to invest without considering knowledge and controlling their emotions. I also really agree with the expression that Bitcoin is not a get-rich-quick scheme, because this must be understood by everyone and all investors so that they do not misinterpret the nature of Bitcoin itself. And most beginners and novice investors often misinterpret this so they rely more on money and emotions than on knowledge and patience when investing. And such people will usually also very easily blame Bitcoin when they experience losses through their own investments. 
I don't think any person should force someone to start investing on bitcoin without the person having any knowledge about bitcoin. I think this is where the problem is coming from , most people lack the knowledge about bitcoin and they just start investing or sometimes most people don't have a guide to guide them about bitcoin investment. The first thing someone will know about bitcoin investment before investing is bitcoin is not a scheme you go in and make money quick but rather beening patient and investing properly, that should be the first thing a bitcoin investor should know.
I see some comments saying. Secondly before investing on bitcoin the person is not suppose to be depending only on bitcoin. Bitcoin can't be your only investment.
I see some comments saying. Secondly before investing on bitcoin the person is not suppose to be depending only on bitcoin. Bitcoin can't be your only investment.
It’s unfortunate people should jump in to what they know about this kind of people. They definitely end up losing their money, no doubt, because once they see the market turn another in which they see it will not favour them, they start panicking, and this is what is leading them to sell what they have already invested. However, we should always be knowledgeable about what we are doing, especially when it comes to the issue of money, because that is what will prevent us from losing our money as far as it will be due to ignorance. You know, there are some investments where there’s no option but to sell what we have already invested, but mostly it happens to people who buy stocks.
The first investment that investors need to make before investing in Bitcoin is to learn all the advantages and disadvantages of Bitcoin. The most important capital is knowledge, not money. When you fully understand the nature of Bitcoin, you will be wiser in responding to Bitcoin market conditions. Patience, time and emotional control can help you become a successful investor. Bitcoin is not a get rich quick scheme, if you make the wrong decision, you will lose all the capital allocated to invest.
The same thing applies to me. I'd rather keep my invested Bitcoin to a wallet that is on my care, making it grow through staking that offers a small amount of interest is not really worth the risk.
Not your keys, not your coins.Staking your coins on any platform is unofficially losing your coins to that platform operators.
Holding your coins in non custodial wallet and only you hold its private key is a safe practice. I don't see convincing reason to stake my coins anywhere to get low APY but if it gives me high APY, that is abnormal and I smell risk of scam or Ponzi.
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DCA, the only thing to do while waiting for the halving and until it shows an effect, just do DCA. Instead of taking a risk to earn bitcoin by staking, make it grow by adding your investment every month.
Until the price of bitcoin is still stable, starting to do DCA right now is a great idea. A year or more, the outcome of that investment will show an unexpected result. Just be patient and take the opportunity to invest as much as you can.
DCA right now and in coming months is very good. Missing price under $20,000 to $15,000 is so regretful but chance is still here. Only 6 more months till Bitcoin 2024 halving event and 6 months are long enough to DCA and accumulate bitcoin.Until the price of bitcoin is still stable, starting to do DCA right now is a great idea. A year or more, the outcome of that investment will show an unexpected result. Just be patient and take the opportunity to invest as much as you can.
With price today below $30,000, it is already a dreaming price for people who saw Bitcoin rose to $60,000 2 years ago.
Unfortunately, when people buy Bitcoin, they expect huge profits within a short period of time. This is the source of panic and fud that is exhibited by many Bitcoin investors.
While educating people about Bitcoin, I think it is wise we tell them Bitcoin need time to yield profit, let us change our approach in sharing Bitcoin knowledge so that people will not come into Bitcoin with the mindset of get-rich-quick.
While educating people about Bitcoin, I think it is wise we tell them Bitcoin need time to yield profit, let us change our approach in sharing Bitcoin knowledge so that people will not come into Bitcoin with the mindset of get-rich-quick.
Absolutely agree with everything you state here. Lots of newbie bitcoin investors have a really immature mindset. Most people who have done really well in bitcoin have, themselves, been through devastating bear markets where their investment sunk to depths that made them fearful. The key, those guys will tell you, is to have the fortitude to be brave & hold through those uncertain times. Only with time & skin in the game can you make big money.
You've got the point OP. People think that Bitcoin investment is a quick rich scheme where most buyers/investors that are new in crypto will be thinking that buying today will generate a profit after a few days. Having that kind of investment behavior will certainly end up selling their Bitcoin at a small profit or sometimes at loss.
Well, of course, we have nothing to wonder why impatient people are not successful in investment. Perhaps, they never know what is investment is all about and it was pretty hard to educate them when their mind were already closed. That is why not all have become an investor as not all also are willing to wait.
Well, of course, we have nothing to wonder why impatient people are not successful in investment. Perhaps, they never know what is investment is all about and it was pretty hard to educate them when their mind were already closed. That is why not all have become an investor as not all also are willing to wait.
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Now, if you have Bitcoin in your balance address and are waiting for the halving or bull season, it might not be a terrible idea to put it into staking or farming so that you can earn right immediately, right? as long as the platform is still DYOR.
I consider this the worst idea because to be able to stake or farm to increase the number of bitcoins, you need to give your bitcoins to centralized platforms and that is too risky. Instead of looking to increase your bitcoin by taking such a big risk, why don't you work hard and save more to buy bitcoin? Halving is approaching, price increase season is approaching, don't face too big a risk in return for a small profit. Hold onto your bitcoins in a non-custodial wallet and wait for the bull season to arrive.
Until the price of bitcoin is still stable, starting to do DCA right now is a great idea. A year or more, the outcome of that investment will show an unexpected result. Just be patient and take the opportunity to invest as much as you can.
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Now, if you have Bitcoin in your balance address and are waiting for the halving or bull season, it might not be a terrible idea to put it into staking or farming so that you can earn right immediately, right? as long as the platform is still DYOR.
I consider this the worst idea because to be able to stake or farm to increase the number of bitcoins, you need to give your bitcoins to centralized platforms and that is too risky. Instead of looking to increase your bitcoin by taking such a big risk, why don't you work hard and save more to buy bitcoin? Halving is approaching, price increase season is approaching, don't face too big a risk in return for a small profit. Hold onto your bitcoins in a non-custodial wallet and wait for the bull season to arrive.
When people start up a company, they give it some years before they expect profits. Most times they even re-invest their profits to expand and build their company to the standard they desire and this requires time. Furthermore, when people buy stocks of a company or make investment in businesses, they give it time which run into years before they expect profits.
Unfortunately, when people buy Bitcoin, they expect huge profits within a short period of time. This is the source of panic and fud that is exhibited by many Bitcoin investors.
While educating people about Bitcoin, I think it is wise we tell them Bitcoin need time to yield profit, let us change our approach in sharing Bitcoin knowledge so that people will not come into Bitcoin with the mindset of get-rich-quick.
Unfortunately, when people buy Bitcoin, they expect huge profits within a short period of time. This is the source of panic and fud that is exhibited by many Bitcoin investors.
While educating people about Bitcoin, I think it is wise we tell them Bitcoin need time to yield profit, let us change our approach in sharing Bitcoin knowledge so that people will not come into Bitcoin with the mindset of get-rich-quick.
Traders need to get help through patience, if a person is saying that he is a good trader he must have some patience but I can say more patience. As it is a key to its successful journey in trading, we can't push people they buy bitcoin as it is everyone's own choice which helps him a lot and in which business he is more comfortable. Patience needs to be used in crypto but in all trading scenarios, we should take help.
Also in the companies or any other investment plans, they are completely different from trading. Because they have less risk and they are in a person's control trading is not in a person's control and no one knows when the price of any coin will go further up and when we can see the price of a coin is going down. It happens sometimes eventually while sometimes it takes a lot of time even a year. Same in the case of Bitcoin too, no one knows when it is going to pump. So it is a different thing we can observe.
I think everyone here already knows that. I think it's more important not to push people into Bitcoin. If they are interested themselves - you can tell them everything you think you should. But just doing that from nothing is kinda pointless.
There are people who are already interested in bitcoin, but they don't have the best coach to guide them, and the problem here most times is not about being interested in bitcoin but rather about the kind of information the person has that convinced them to pick interest in bitcoin. Information matters a lot, and I believe the kind of information we give to people about something is what makes them take the decision they take on that thing.
Some people have learned how to buy bitcoin, store it, and protect it from being stolen from them, but one thing that they lack is the ability to play a blind eye to bearish markets, the ability to be patient and wait for the right time to sell, the ability to overcome whatever sad news always comes to the crypto world, and the ability to make good use of opportunity when one presents itself and doesn't think about the blockchain as a Ponzi scheme because that's where most people's problems come from.
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While educating people about Bitcoin, I think it is wise we tell them Bitcoin need time to yield profit, let us change our approach in sharing Bitcoin knowledge so that people will not come into Bitcoin with the mindset of get-rich-quick.
That's what volatility can change someone's thinking on Bitcoin.While educating people about Bitcoin, I think it is wise we tell them Bitcoin need time to yield profit, let us change our approach in sharing Bitcoin knowledge so that people will not come into Bitcoin with the mindset of get-rich-quick.
They think like "Ohhh Bitcoin's volatile therefore, I can get more profits in a shorter amount of time because price can increase immediately, and anytime." While this is true and it really happens (like what happened a few days ago when a fake news about Blackrock's Spot ETF getting accepted already), if you really want to maximize your profits, waiting for a longer time, or selling during the bull run is the way to go. Don't expect that if you invest today, a few weeks from now you will double your money. Is it possible though? Yes, but not on Bitcoin, and what are the chances for it to happen? Low to very low.
To all investors out there, unless you're a trader then give your investment some time to grow. Bitcoin isn't like a quick rich project like other companies out there are offering (obviously a scam). For those who are sharing knowledge with regards to Bitcoin to other people, I guess telling from the get-go that it isn't a quick rich scheme would be a good idea to lower their expectations. Capital appreciation takes time whether it would be stocks, bonds, or even in crypto.
I agree wholeheartedly about setting expectations. Crypto can yield high profits, but its not a lottery ticket. That must be emphasized. Investing in bitcoin, equities, or bonds takes patience. Anyone promoting easy cash? Red flags should appear immediately. We must emphasize investing's reality and drown out quick-rich claims.
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When people start up a company, they give it some years before they expect profits. Most times they even re-invest their profits to expand and build their company to the standard they desire and this requires time. Furthermore, when people buy stocks of a company or make investment in businesses, they give it time which run into years before they expect profits.
Even many large newly built companies do not expect profits in the first and second years. Because they know that building a business is not easy and other tools are needed as support to make their company grow. So they will still spend large amounts of capital to reach market segments according to the product development they are creating and in the first and second years they will still not target large profits.Unfortunately, when people buy Bitcoin, they expect huge profits within a short period of time. This is the source of panic and fud that is exhibited by many Bitcoin investors.
It's the same with fake investments, which most people are tricked into because they promise big profits quickly. Investment will be proportional to the amount of capital we put in and the bigger the capital we put in, the bigger the profit we get. That's how investment works and we can't make quick profits if we only rely on small capital, even if you try to invest in bitcoin.While educating people about Bitcoin, I think it is wise we tell them Bitcoin need time to yield profit, let us change our approach in sharing Bitcoin knowledge so that people will not come into Bitcoin with the mindset of get-rich-quick.
Never give the impression that Bitcoin can generate large profits in a short time, because it can affect people's psychology and mentality. It's best to provide education about how to invest properly and what strategies they can use if they don't have large capital. In this way, they will learn to make money by investing in Bitcoin correctly and know how to minimize the risks that arise from the investments they make. legendary
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While educating people about Bitcoin, I think it is wise we tell them Bitcoin need time to yield profit, let us change our approach in sharing Bitcoin knowledge so that people will not come into Bitcoin with the mindset of get-rich-quick.
That's what volatility can change someone's thinking on Bitcoin.While educating people about Bitcoin, I think it is wise we tell them Bitcoin need time to yield profit, let us change our approach in sharing Bitcoin knowledge so that people will not come into Bitcoin with the mindset of get-rich-quick.
They think like "Ohhh Bitcoin's volatile therefore, I can get more profits in a shorter amount of time because price can increase immediately, and anytime." While this is true and it really happens (like what happened a few days ago when a fake news about Blackrock's Spot ETF getting accepted already), if you really want to maximize your profits, waiting for a longer time, or selling during the bull run is the way to go. Don't expect that if you invest today, a few weeks from now you will double your money. Is it possible though? Yes, but not on Bitcoin, and what are the chances for it to happen? Low to very low.
To all investors out there, unless you're a trader then give your investment some time to grow. Bitcoin isn't like a quick rich project like other companies out there are offering (obviously a scam). For those who are sharing knowledge with regards to Bitcoin to other people, I guess telling from the get-go that it isn't a quick rich scheme would be a good idea to lower their expectations. Capital appreciation takes time whether it would be stocks, bonds, or even in crypto.
When people start up a company, they give it some years before they expect profits. Most times they even re-invest their profits to expand and build their company to the standard they desire and this requires time. Furthermore, when people buy stocks of a company or make investment in businesses, they give it time which run into years before they expect profits.
Unfortunately, when people buy Bitcoin, they expect huge profits within a short period of time. This is the source of panic and fud that is exhibited by many Bitcoin investors.
While educating people about Bitcoin, I think it is wise we tell them Bitcoin need time to yield profit, let us change our approach in sharing Bitcoin knowledge so that people will not come into Bitcoin with the mindset of get-rich-quick.
Education like this is necessary for beginners who have just learned about Bitcoin. Sometimes beginners are so enthusiastic about bitcoin because they think that bitcoin can make them make quick profits. But fortunately, in the end, many beginners then learn independently and begin to understand that Bitcoin is indeed better as a long-term investment, not short-term. So now we can see more and more wallets storing bitcoin and their growth is increasingly rapid. And yes, the wrong mindset and understanding are the source of mental problems and panic in holding Bitcoin. Unfortunately, when people buy Bitcoin, they expect huge profits within a short period of time. This is the source of panic and fud that is exhibited by many Bitcoin investors.
While educating people about Bitcoin, I think it is wise we tell them Bitcoin need time to yield profit, let us change our approach in sharing Bitcoin knowledge so that people will not come into Bitcoin with the mindset of get-rich-quick.
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