Topic: Give Bitcoin investment time - page 8. (Read 902 times)

And the mindset of wanting to get rich quickly in a short period of time is very wrong. Usually people with this mindset are very close to the brink of disappointment.
People who view bitcoin as a tool to quickly get rich and see crypto as just about making money are not worthy of taking part as investors.



About convenience and disadvantages. About opportunities in facing the challenges of the economic system. It would be wise if in educating people about bitcoin we explain the two types.
Why bitcoin was created is the main point that needs to be conveyed because it is to steer them away from the bitcoin mindset of just making money.

The volatility of bitcoin should even be a good reason for people not to be in a hurry to make profit,  since volatility has great enfluence in the market of bitcoin people don't need to predict when they can make profit from the Market.  Volatility is what you can predict,  it takes investors unaware in the market.  Their is no need to rush yo make profits from Bitcoin because Bitcoin is a longtime investment that people needs to be very patience with the market to get better profit from their investment.

Bitcoin really need time but some people just want to make the profit by their own time or prediction which is not supposed to be so. Bitcoin is unpredictable, that people needs not to rush to make money from it.

It's not Bitcoin only, when people run their own business they have the mind of leading a good life with the business and when things aren't working out like they planned they will quit, I am a fashion designer and it's been 8 good year's that have been running my business now, there are some who started the same business as me at the time, now they closed down the business because of the country situations, but I don't because I believe I can keep the business alive and still do other things, I have customers from other countries including the U.S and U.K, crypto made me found them, it was a long story.

When you are running a business you don't have to see the business as the only way to bring food ro your table, be open to other ideas and you will grow better from there, back to Bitcoin discussion, it's true that Bitcoin investors want quick returns and they easily get tired of holding their Bitcoin but I believe that's because of fear in them, they don't understand Bitcoin but that doesn't stop them from been a part of Bitcoin.

They believe Bitcoin is more risky than their jobs, I think it's because they have no complete trust in Bitcoin, if not, they would prefer to hold for a very long time, I have a big sister who is also acting the same way, when I questioned her about Bitcoin investment I detect that she feels unsafe with Bitcoin.

They say that Bitcoin is a world changing technology dressed up as a get rich quick scheme. I personally like the saying that the revolution is monetized. One thing that has always proven to be true is that Bitcoin rewards those with the longest time preference. With the nature of Bitcoin, I think that could very well always be true.

People who want to make quick money should be discouraged from investing in bitcoin. This is because they don't know the difference between bitcoin and altcoin which is why they assume bitcoin is like those coins that can be pumped and dumped easily.

You are very correct @OP,  people should know that bitcoin is not a money-doubling scheme or a get-rich-quick venture. They should come as long-term investors if they want to really benefit from bitcoin.  People should also know that the price of Bitcoin is unpredictable so they should be willing to readjust their plans in case the price falls short of their expectation at a given time.

That's because the people that have introduced them to bitcoin probably was embellishing stories and they don't balance out the negatives and the positives that bitcoin has, they solely focus on positives because they want the people to receive the bitcoin gospel wholly so they try to not talk about the negatives more often. Maybe it's the impatience, but I think that misinformation also plays a key role why newbies fail or experience loss early on their investment journey.

Stock investors also often expect quick profits. There's nothing wrong with that, after all, someone has to provide capital for experienced investors. Every market participant is important to the market. Is he swinging from longs to shorts, providing liquidity, or is he buying high, expecting big returns, while providing capital to smart money.

And speaking of the approach to bitcoin, I suspect that you live in your own bubble, where this is the approach to bitcoin (it's nothing bad, everyone lives in their own bubble and rarely sees things objectively.) Older users who have already survived several bull runs and bear markets have a different approach, and statistics prove that number of long-term investors grows and they hold more than 3x the amount of bitcoin that shor-term holders hold.

One thing I noticed is impatient among the newbies investors since their mindset are always focused on profits maximisation and, secondly other thing that counts again is the approach just as you said, people didn't give them the real concept and how it works. I could remember someone telling me he will invest when bitcoin price is going up saying that now is too dip that he doesn't want to lose his money.. and I was like you don't want to buy dip and sell when is coming upor hold for long term? And he said yes then I didn't want to go Into argument with him because I know he is not ready to learn so I didn't go further telling him to buy because it's against his wish and whatever that comes out of it I may bear the blame.

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.

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.