Topic: Why is Bitcoin seen as a gateway to financial stability? (Read 578 times)

I like Bitcoin because of decentralization and most of all it is fully inflation proof though it has a volatile nature but still manageable when in terms of investment especially long term. Financial freedom with Bitcoin is very possible compared to fiat so I think that is one positive characteristic of Bitcoin which most of us would like.

A lot of people that are new to bitcoin, their first contact with bitcoin is through an altcoin. That altcoin was marketed to them as a get rich quick scheme. The were promised that the coin would do x100 or even x500 so they'll invest in it. They might lose their money but the seed has been planted because they have seen others that made so much money from that coin, probably because they bought earlier or these people making money from other coins.
These people attribute Bitcoin to be one of those altcoins. They don't really know much about bitcoin, they just know it as the most expensive coin and others know it as a coin that only the rich should have.
A lot of misconceptions fly when it comes to bitcoin. Whenever I hear people say something not true or accurate about bitcoin, I try to correct them and put them through if we're in a setting were we can talk calmly, but other times i just ignore.
There's actually nothing we can do to stop people viewing bitcoin as a get rich quick scheme aside educating people we can on bitcoin. Advertising altcoins as a get rich quick scheme is actually a strategy some altcoins subtly use to promote their coin.

You got a point there because decentralization is often labeled as freedom but if on topic only, this should only be related to how it works as a currency and a wrong-doing in general is always wrong. We should not use an alibi or something only to make it look like we got a point.

Not only newbies but even the experienced ones can also think of that. There is nothing wrong with it anyway because that is the reality. If we buy at the lowest possible price, there is a good chance that BTC will then pumped up.

Imagine if we also bought boat-loads of it? That should be enough to make us an instant millionaire or even billionaire. That's great if they still manage to learn it even for a quick period of time because I believe that the majority just rush on it without a knowledge in head. People like these are the ones who can get poor instead of being rich.

The more it will occur if like you said they will allocate all of their funds on it. That's crazy. Even those who have an experience already doesn't do this. They should be shy about their selves for Christ sake. Even though that's funny when they say that BTC is a scam after they fail, at least they try. It's not worse as those who call BTC a scam in an instant without even trying it.

Honestly that is a lot of the traders, they end up trying to make some money based on the altcoins they think could skyrocket very quickly, and then they realize that that is not how you make money in the crypto world but not before they lose some money.

I believe that we are going to see a lot of people make a lot of mistakes, but in the end we should realize that it is going to take a while before we could get some serious profit by investing properly, and not really do anything at all that's crazy. We need to consider the reality that it is going to cause a lot of people a lot of damage if we are not careful, if we can be careful and not make many mistakes then it is going to end up with something that could probably end up being a lot better.

With some success stories already recorded, many will continue to think in that line of thoughts because at this point we can't deny the luck factors that turn some newbies into instant millionaire from just a little effort and investing in coins aside from bitcoin, but since bitcoin is the most popular coin among other cryptocurrencies when the newbie enter the market all attention will be on bitcoin so that is why majority's believe that they can get instantaneously rich through bitcoin.
Many of them have lose alot of money thinking in that line of thoughts and being so desperate to the point of believing some scam cryptocurrency investments or trading facilities all aimed to take away their little investment, so for any body that have the zeel to really gain financial freedom, the first thing they need is knowledge and not bitcoin or other coins that are more volatile, but if you want to gamble only then you chose cryptocurrency for short term based.

Bitcoin and other crypto coins have to be viewed along it risk aspects and how willing the investor is to keep holding until the investment appreciate having in mind the possibility of losing and haven't to wait also for long time before realising that.

Even if we talk further I'm pretty sure that for those who have been in bitcoin for a long time (including myself) it is based on the same thing because it cannot be denied that profit was the initial factor that made me in bitcoin and it could be the case for almost anyone who is in bitcoin now because it was the initial mindset. But the difference is about the learning that continues to be done because after all to form a belief certainly requires understanding that can be obtained from studying bitcoin that continues so that we remain confident that we are on the path that we believe is right.

Many people eventually give up and fail in this process but in the end not a few also survive because they remain with their beliefs so for this we only need to continue to strengthen our beliefs especially when bitcoin crashes that everything will be fine because what we are aiming for is not short-term but for future investment with a longer duration.

Because some people were able to get rich with it, and still has prospects of making someone one even if so much time has already passed. It's not really anything new, in general most investors are like that, just not in the scale of hoping to go from rags to riches like some people hope for Bitcoin. I mean you can see it from what people choose to invest in. They choose investments that are already tested and proven to provide profit however small it may come. Otherwise they'd have invested in countless startups instead.

This is not new anymore since almost all those newbies who come to the market have this type of mindset, that bitcoin will make them rich in an instant. That's why we keep seeing them rushing to learn about bitcoin so they can finally invest their hard-earned funds and allocate them all to bitcoin, hoping that they will get 3x or 5x amount of returns from their capital. But just as expected, newbies are still not capable to invest due to lack of knowledge and experience, so we end up seeing them losing all their funds and put all the blame into bitcoin saying  bitcoin a big scam after all.

Isn't that point of decentralisation? We get to choose what to do with that.

Everyone has their own way of seeing Bitcoin and obviously most people see it as asset rather currency that's why we often talk it as investment which may not Satoshi really wanted but don't forget those Holders are the primary reason why Bitcoin survived so long when people expected it would reach zero.

Let the people stick to their belief, eventually they will learn their lesson once they start to invest in bitcoin and found out on their own that bitcoin takes a lot longer before profits can be realized. If they can't wait, they'll end up losing most probably.

Bitcoin in reality is never a get rich quick asset, but as long as crypto influencers have misconceptions about bitcoin, they will continue to influence the people the wrong way, unfortunately majority believed on them without verifying if it's reasonable or not.

While old bitcoin investors have proven that bitcoin will only be profitable if it's hold for quite long years, these newbies in the market who rush to invest without knowing their investment well prefer to believe that it's a get rich quick investment, hence the more you invest, the bigger chances of making massive profits.Yes it could be true, but an investor who lacks knowledge and patience will never be successful in the long run, but may continue to lose his funds even if he invested a lot in bitcoin.

That's a misconception. Although Bitcoin can help to generate profit for investors, but there are conditions attached such as being  able to generate enough capital that you will invest in Bitcoin to be able to get a significant profit, secondly is the ability to hold your Bitcoin for a long period of time and lastly is the possibility to have a job that is generating a sustainable income that can help you fill your bills while still holding unto your Bitcoin investment.

When an individual doesn't meet those conditions, they can not even become successful Bitcoin investors, talk more of gaining financial stability from Bitcoin investors.

Aside from the benefits you mentioned, the very reason why a lot are seeing this market as their saviour or gateway out of poverty is because of the notion they are getting over the net. People who are boasting their profits from this market. And once people got in, they learned that there's more than meets the eyes on how to gain profits. It is no easy feat to gain because there are other factors you need to consider before earning some of it.
Just few things you need to consider -
 > when is your entry/exit in the market
 > can you keep up monitoring this market?
 > your goal - long term or short term?
 > your need of this fund? is it your spare or not?
 > how much gain before you sell? how much loss you can afford if you need to sell?

We are all do experience on being a noob and its hard to deny that on the moment that we have started up on dealing up with cryptocurrencies, then the main thing that inside into our mind is money making. Right?
We do really have those thoughts that it would really be just that easy on making profits but on the moment or time that you do able to see those real dealings then you would be realizing into yourself that
it was never been that easy in the first place. This isnt something that would really be automatically be resolving out that poverty issue or simply trying to attain that financial stability or success on which of course
just like on typical business or investment then you would really be that definitely be still needed up to consider those common steps that you would really be needing up for you to achieve success.

The main issue for most noobs out there is that on the moment that they do experience those loses then they do immediately quit up and wouldnt really be trying out to pursue just because of those failures.
Actually dealing up with crypto does really give out that another window of opportunity for you to succeed on. Just make yourself set out those expectations to be low so that you wont really be
that get disappointed on the moment that you will really be able to face up the reality on how this market or industry works which is of course that you would really be needing up also to be wise
on different aspects.

Any Individual buying shitcoin has to be newbie as they're the ones that still think that they can make it from buying shitcoin. As for older investors that have being in the market for a long time, they know that shitcoin don't last. They get so hyped during the bull market but when the bear market comes , they'll all die as they can't withstand the harsh environment of the market during the bear season. Bitcoin is the only cryptocurrency that can give us financial stability and this is due to the fact that Bitcoin doesn't change from how it was created and built to always increase in price. When you buy Bitcoin, it won't lose value overtime and you can buy in satoshi.

Bitcoin have already been seen as a reliable digital currency which is decentralized and this alone is what makes the people realized their right towards the achievement of their privacy and financial control away from the reach of government or other regulated financial institutes.

Also, if we are to consider the multi applicational diversifications with bitcoin, whereby we can use it as a digital currency as well as an investment asset, also to have a good store of value and many other relevant benefits from the use of bitcoin, it all makes people to realize that the can achieve some certain level with their financial economy with bitcoin.

It's just like with any sort of financial instrument that has made a lot of people wealthy in any sort of way, bitcoin has done the same for quite a few people so everyone who's not very financially savvy comes in thinking "well if it worked for them then it must be able to work for me too" without doing any of the proper research/homework in to whats actually what.  I have a lot of clients who keep talking about wanting to buy NVDA stock because it had done so well, in the past.  People have a hard time looking forward.

People who think that way about Bitcoin are the ones who don't have enough knowledge about it, and if they are making investments without getting enough knowledge, they are harming themselves and not Bitcoin, Bitcoin is going to have a positive impact from this because they are spending money for it and Bitcoin grows more in value when more people invest in it.

There is no doubt that most people these days are using Bitcoin only as a way to earn money, they don't care about its use cases or what it can do, all they care about is its price and they keep an eye on whether it goes up or down, but this has made Bitcoin what it is today. If it wasn't for its increasing value, Bitcoin could never gain as much success and popularity as it has today.

That being said, I don't see any way how Bitcoin be used to better society and lessen corruption. Can you please elaborate on that?

It's hard to turn someone's mind around when there are already many who have the same mindset like this, especially for beginners.

It also cannot blame those who have such a mindset because after all it happens because of the impact of some people who have followers who indirectly provide an inaccurate understanding where being in bitcoin is an instant way without having to think about risk and will get quick profits so that when suggestions like this continue to appear then don't blame those who just have such an understanding.

But, I'm pretty sure over time it will never be brought back to those who have studied bitcoin thoroughly because seeing from my personal experience I was also in a few years when I was in the initial phase of being in bitcoin I also had almost the same thought where bitcoin was a tool that could make us benefit instantly, although it was also not entirely wrong but in the end being in bitcoin was not that sweet and I had felt a lot of things that made my initial thoughts about bitcoin as one aspect to enrich instantly it did not apply to this time.

It cannot be avoided because indeed this stigma arises due to the lack of understanding of beginners and those who are unfamiliar with bitcoin which ultimately makes conditions like this continue to be discussed and people who are in bitcoin are said to be rich.

But on the other hand this will also ultimately not be long because once again, the get-rich-quick scheme is just a thought where people who do not understand the concept of bitcoin because they are new to bitcoin but when they are serious about learning bitcoin then it will not be possible for a stigma like this to remain they say in the end.

I personally don't really care what other people say about bitcoin including get-rich-quick schemes like this because in the end when I'm in bitcoin, I just have to focus on what I'm doing instead of thinking about what other people say because it won't affect me.