[HOT]Bitcoin is getting rich quickly?

Oasisman

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Quote from: gidobeen on May 29, 2020, 03:33:01 PM

Let's give an example of you bought 100 BTC at 9000$ Price and the price went 9010$ in seconds then you sold, so your profit will be 1000$, may 500$ fees, but the another 500$ you made it profit in seconds!

Let's discuss at the point!

That example clearly implies that the person investing is very rich. 100 Bitcoin at the current price is $1,000,000.
Therefore this man from your example is already rich even before he starts investing in cryptocurrency Cheesy

Anyway, most of the people who thinks Bitcoin is a get rich quick scheme was left disappointed lol.
There's no short cut in earning good profit. That example ain't easy, you don't expect to sell that massive amount of Bitcoin all at the same time.

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Quote from: Fatemablabla on June 02, 2020, 12:01:12 AM

I came to bitcoin in May,2017. After I started trading I doubled my money only in 3days. Then I thought it is a great way to earn money for a girl like me. I can easily get richer by this method. But after only 1weeks reality show me the real face of it. You can't always win a trade. But if you can win 70% of your trade than there is a good chance for increasing your money.

After all I don't think that BTC is a getting rich quickly scheme. For some it maybe but for me it's not.

I would call that a lucky moment. If you can double your money in 3 days, you are so lucky, and not all people can do the same as you. But as you already get another experience, indeed, trading does not always win because sometimes, we can get lost too, and if we don't know how to minimize the risk, the lost will be bigger. So bitcoin is not a getting rich quickly scheme because we need to hard work every day and every time. After all, the market will always change.

Nhor1011

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Getting rich in bitcoin in just a second is very impossible to happen. There is no person become rich immediately because it takes time. When you invest now you can't also get the profit now. Specially if you only have small amount of capital to invest. Also making a huge profit out of bitcoin is just a matter of luck and patience.

Fatemablabla

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I came to bitcoin in May,2017. After I started trading I doubled my money only in 3days. Then I thought it is a great way to earn money for a girl like me. I can easily get richer by this method. But after only 1weeks reality show me the real face of it. You can't always win a trade. But if you can win 70% of your trade than there is a good chance for increasing your money.

After all I don't think that BTC is a getting rich quickly scheme. For some it maybe but for me it's not.

shoreno

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Quote from: Ridwan Fauzi on June 01, 2020, 10:06:28 PM

That is true, but do you have such capital?

Actually trading crypto currency (bitcoin/altcoin) it is depends on your capital. You will have a high chance to gain profit shortly if you have a huge capital.

he was only using that amount as an example because its clear that the amount was too high enough that a regular people wont afford it but maybe whales can . small amount of capital does not also mean that you cant earn a good profit . its still possible as long as you hodl for a long time that your capital already grew by 3 to 5 times . also huge capital does not also means that you can only earn big , ofc huge risk also awaits you . i saw many big investors loose just because of doing a wrong move .

Ridwan Fauzi

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That is true, but do you have such capital?

Actually trading crypto currency (bitcoin/altcoin) it is depends on your capital. You will have a high chance to gain profit shortly if you have a huge capital. You don't need bitcoin only, you have a chance to buy some altcoin like ADA or ETC which is their price are trying to increase.

But you have to aware with risk that will be faced, an example you buy bitcoin $9000 but its price is decrease to $8800 in one second you will be lose much as well. Bitcoin (and I've been considered that altcoin can do that as well) can make you getting rich quickly but it is otherwise when the coin that you buy decreased you will go bankrupt quickly.

xiboothrezi

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Quote from: MCobian on June 01, 2020, 03:25:42 PM

I agree that bitcoin can make rich quickly, there are already many people who are lucky to buy bitcoin when prices are dumping. Then not long bitcoin price pump and can take profit. Because the price of bitcoin is volatile it is very possible getting rich quickly, even though it is actually people when getting rich quickly just got lucky. And also the amount of capital used also affects the profit that we produce. The greater the capital used, the greater the profit we make.

More risk ... more profit

If we don't have the ability and knowledge to adapt, then the chances are getting smaller, only luck can save. So, to increase opportunities for profit, we must understand the risks involved and determine the right strategy to minimize those risks. We should know that like other investment products, investing in cryptocurrency also has risks, even greater because of its high volatility. If there is an opportunity: get rich quick with Bitcoin, then the opportunity to lose is also equal.

MCobian

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I agree that bitcoin can make rich quickly, there are already many people who are lucky to buy bitcoin when prices are dumping.
Then not long bitcoin price pump and can take profit. Because the price of bitcoin is volatile it is very possible getting rich quickly,
even though it is actually people when getting rich quickly just got lucky. And also the amount of capital used also affects the profit
that we produce. The greater the capital used, the greater the profit we make.

lumeire

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Quote from: gidobeen on May 29, 2020, 03:33:01 PM

Let's give an example of you bought 100 BTC at 9000$ Price and the price went 9010$ in seconds then you sold, so your profit will be 1000$, may 500$ fees, but the another 500$ you made it profit in seconds!

Let's discuss at the point!

Now take another example OP, suppose you brought bitcoin at $20k and in a day the price went to $16k, now please calculate the losses and see whether bitcoins is get rich quick scheme or more of a hold for a lifetime scheme. I guess you can clearly see by this post that only an experienced person can see past minor market fluctuations and also should be patient enough to wait to see profits and not sell at the time of panic selling in the market.

Pixyoxx

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Yes i also think so it can make you rich quickly but lets not forget that it also jumps down everything has two sides suppose if you bought a a bitcoin costing 2000dollars and it goes down to 1500dollars in just a week then you'll have to wait till it goes up and it can take some time but you'll have to wait on the other hand it could also go to 3000 dollars risk factor is always there bro. Still i think that bitcoin can give you high returns.

MoreMoneyHunt

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Getting rich quick with Bitcoin and other cryptos is not a guarantee. Yes, you can be lucky but it won't always happen that way. You can buy today and see a massive bearish candle breaking your heart.

ChiBitCTy

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I’m not really sure what we are discussing here..how to get rich quickly, should you utilize these types of strategies to try and get rich quickly or ? I often get asked by my clients about marijuana stocks. Most have little no financial education or experience so my first step is crushing their dreams ( marijuana stocks have a long way to go for high growth and many hurdles right now so it’s very very risky Just like BTC). But then I ask , do you have a bank account with a few months rent in it? Do you have your retirement plan in place and are you on track to meet your goals? Do you have an outside trading account with some mid term investments? If so, then sure try and hit some home runs, but be prepared to accept significant and quick losses.

To the avg person who has no idea how to trade or any technical analysis savvy ..just dont do it.

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Quote from: gidobeen on May 29, 2020, 03:33:01 PM

Let's give an example of you bought 100 BTC at 9000$ Price and the price went 9010$ in seconds then you sold, so your profit will be 1000$, may 500$ fees, but the another 500$ you made it profit in seconds!

Let's discuss at the point!

That's the thought that often makes a newbie trapped at a loss. Too profit-oriented so they use all means and offers because he thinks he can get wealth instantly with Bitcoin. In fact, it's not like that.

Many fraudsters.

Many scammers.

Market movements are very extreme.

Comparable with the opportunities available, the risk of loss is also large. It takes great luck if you can get instant benefits without learning and adapting in this ecosystem. So are you only going to rely on luck?

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Quote from: BITCOIN4X on May 31, 2020, 05:54:38 PM

Quote from: gidobeen on May 29, 2020, 03:33:01 PM

Let's give an example of you bought 100 BTC at 9000$ Price and the price went 9010$ in seconds then you sold, so your profit will be 1000$, may 500$ fees, but the another 500$ you made it profit in seconds!

Let's discuss at the point!

This proves that the more money you invest, the greater your chances of making a profit. I imagine what if a large investor bought 100 bitcoin at a price of $4,500 to $5,000 some time ago and sold it today. Really this is just a fantasy like flying without wings because we can only daydream.

I never had that much capital, in fact I had to sell most of my assets to own $ 10,000. We are small traders with $100 - $1000 capital, but we have at least a small profit. Imagining big profits will only help pump up enthusiasm and motivation to be able to produce something bigger.

Its really good to have those money or capacity on investing but we know that it wont really be that simple because pressure and stress would be there since we know that we are putting 100BTC

even if you are a whale then that number of coins is already a lot and how much more for us small time traders which are only capable on hundreds to thousand bucks investment?

Risk=management would really be the main thing, it doesnt matter if you do put up big or small but chances of profiting is just the same.

BITCOIN4X

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Quote from: gidobeen on May 29, 2020, 03:33:01 PM

Let's give an example of you bought 100 BTC at 9000$ Price and the price went 9010$ in seconds then you sold, so your profit will be 1000$, may 500$ fees, but the another 500$ you made it profit in seconds!

Let's discuss at the point!

This proves that the more money you invest, the greater your chances of making a profit. I imagine what if a large investor bought 100 bitcoin at a price of $4,500 to $5,000 some time ago and sold it today. Really this is just a fantasy like flying without wings because we can only daydream.

I never had that much capital, in fact I had to sell most of my assets to own $ 10,000. We are small traders with $100 - $1000 capital, but we have at least a small profit. Imagining big profits will only help pump up enthusiasm and motivation to be able to produce something bigger.

seoincorporation

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Quote from: gidobeen on May 29, 2020, 03:33:01 PM

Let's give an example of you bought 100 BTC at 9000$ Price and the price went 9010$ in seconds then you sold, so your profit will be 1000$, may 500$ fees, but the another 500$ you made it profit in seconds!

Let's discuss at the point!

You have a valid point here, but not anyone has access to 100 bitcoins if you but that amount at $9k which means an investment of $900,000... So, there are tons of investments who will pay that 1% profit with lower risk. Your example doesn't work if our investment is small or something like $100.

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Quote from: Mpamaegbu on May 31, 2020, 10:51:49 AM

What happened in 2013 also happened in 2017. It's an interval of 4 years. The same is expected to happen in 2021. It's the after effect of Bitcoin halving. From record, Bitcoin soars out of reach a year after every halving.

Well, fingers crossed, eh.

These are officially weird times so anything could happen. The signs are there for some explosive action in the next couple of years but it requires enough flush people to follow through and make it a reality.

You can't plan your future around a cycle that's only happened twice so far. Third time lucky maybe.

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Quote from: gidobeen on May 29, 2020, 03:33:01 PM

Let's give an example of you bought 100 BTC at 9000$ Price and the price went 9010$ in seconds then you sold, so your profit will be 1000$, may 500$ fees, but the another 500$ you made it profit in seconds!

Let's discuss at the point!

Yes you are right Bitcoin can make people rich quickly and this happens in every market be it stock market or crypto market and I agree volatility is much high in Bitcoin market but every coin has two side if Bitcoin can make you rich quickly than it can make you poor easily and quickly.These markets are based on mixture of luck and knowledge,if both triggered at right time than you are rich and if luck factor is Missing than your poor.

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Quote from: gidobeen on May 29, 2020, 03:33:01 PM

Let's give an example of you bought 100 BTC at 9000$ Price and the price went 9010$ in seconds then you sold, so your profit will be 1000$, may 500$ fees, but the another 500$ you made it profit in seconds!

Let's discuss at the point!

That is not something like that to play the market. Maybe you cant cover the fees when buying and selling Bitcoin on the exchange.
Remember that buying on exchange is different from selling price. It doesn't make sense at all if you are planning on this way of making a profit in Bitcoin. You will not quickly reach that. Invest in the long term and monitor the market price movement is the best way.

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Quote from: Mpamaegbu on May 31, 2020, 10:51:49 AM

Quote from: gidobeen on May 29, 2020, 03:33:01 PM

Let's give an example of you bought 100 BTC at 9000$ Price and the price went 9010$ in seconds then you sold, so your profit will be 1000$, may 500$ fees, but the another 500$ you made it profit in seconds!

Let's discuss at the point!

This is the simple reason whales get richer at each little opportunity. Just imagine the little profit but great when multiplied by the huge investment of $900,000. How many people can afford such capital to invest in? Not many, anyway.

Yeah very true, imagine these whales injecting millions of dollars in bitcoin that makes it pump then the small ones will see this is a rally start so they'll get to it after a 3% to 5% increase after the whale did inject, they pulled it out making 2% to 4% of his money. See how big is the opportunity of the rich unlike the average and poor ones? This where goes the saying rich getting richer, and poor getting poorer. It's sad right ?

Quote from: Mpamaegbu on May 31, 2020, 10:51:49 AM

Quote from: gentlemand on May 29, 2020, 04:04:50 PM

I got into Bitcoin just before the bubble of 2013. One week later it exploded and carried on exploding for weeks.

'Holy shit. This is incredible. It's like a money fountain. I am set, baby.'

After eight orgasmic weeks 2014 arrived and kicked my balls through the top of my head. I was in the red for the best part of three long and agonising years. It got there in the end. It sure as shit made me work for it.

What happened in 2013 also happened in 2017. It's an interval of 4 years. The same is expected to happen in 2021. It's the after effect of Bitcoin halving. From record, Bitcoin soars out of reach a year after every halving.

I've seen enough of the market, from ups and downs, from heavily speculated price to failures, naah, numbers do speak a lot in here but the time? I don't think it matters. Whether the interval is 4 years it is still not a subject for 2021 discussion that the price will soar, coz any time it might rise if we all want to. Decentralization is making a lot of sense now, no one's in control nothing goes wrong.

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