Why is Bitcoin seen as a gateway to financial stability? - page 2.

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Quote from: Amadi x on July 24, 2024, 05:22:45 AM

I really do not like the idea of people seeing Bitcoin as some form of get rich quick scheme or something like that. Everyone is just willing to invest in Bitcoin without having proper knowledge of what it is they are doing.
Bitcoin should be known for it's qualities such as
Durability, decentralized, divisibility,and portability..
And how it could be used to better the society, and lessen corruption from our Elites.
It shouldn't be seen as some get rich quick scheme or so.

You need to understand that nobody is seeing Bitcoin as a quick way to make money if they are aware about how the crypto market works. We can always make money from the market volatility and does not mean that it is a quick way for us to make money in the market. Those that bought Bitcoin 3 years ago at the top of the market trend just get in profits not quite long which is all about being patient. Patience is the only way we can keep making money from the crypto market if we know what we want and how to get it. Cryptocurrency is more of knowing when to buy and when to sell for us to keep making consistent profits from the market. If we don't know this, we might keep waiting for a longer time for us to make profits.

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It is seen like that because of its TRUST an GENUINE nature, it is difficult nowadays to put your trust on online activities and be successful . People see Bitcoin as financial stability because it does not only have to do with investment aspect,it has to do with job opportunities like involving campaigns, signatures and others with pays you weekly,which means Bitcoin has created job for the jobless mainly the youths, which even makes it easier for people to work from wherever they are connecting them together irrespective of who you are, your country or where you are from.
Alot of trusted companies are connected to Bitcoin which has made job opportunities available to Bitcoinners that do not really have a stable income or the average income earners and made them independent

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Bitcoin does not inflate in price.

Your Bitcoins cannot be stolen or taken away by anyone as long as you store your seed phrase properly.

Transaction fees are very low.

You can easily send bitcoins anywhere in the world.

Bitcoin is an accepted payment method in a lot of stores.

Most importantly you can keep your ownership private, so that nobody even knows that you hold a few bitcoins.

It helps a lot of people who otherwise have to use their volatile national currency for transacting which may have limits, restrictions, or the prospect of having it all taken away.

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Quote from: coolcoinz on July 24, 2024, 12:40:56 PM

I don't like many things but I have to endure them. Wink

There will always be people who want to make quick money and don't blame them. What would you do if you had a family to take care of and not enough money? I'm in fact happy these people choose bitcoin over some shitcoins that offer ridiculous gains of 200 or 300 % a year and there are suckers who believe they can pull it off because shiba inu or some other pepe coin went up x%

People have to grow up in crypto to understand how to make money in a safe way. Many people learned that by getting burned over and over again and going through the depression phase a few times.

In addition to the situational factor, I think that our choice to invest in bitcoin means that even if we ourselves want to get rich quickly, don't be so quick to criticize others without looking at ourselves. Because if we compare bitcoin with other traditional investments, it is clear that bitcoin gives much bigger and faster profits , I believe everyone knows this and that is why they choose bitcoin .
Bitcoin is not a form that helps us get rich quickly in a day or a few months, but it is clearly an investment that gets rich faster than other assets .
Bitcoin is a multi-functional asset, it has many different use cases, so there is nothing wrong with people using it for their needs. Don't try to impose our thoughts on others when we can't help them.

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Quote from: Rabata on July 24, 2024, 11:47:45 PM

One of the main factors behind Bitcoin's rapid adoption is the misconception people have that Bitcoin is quick rich scheme.

I do not agree with this. The main reason people invest in bitcoin is because they want to invest in something that can earn them money. Also the other reason is because bitcoin has good past records and they see it as a hedge against inflation. People already know that bitcoin is not a get rich quick and they prefer to gamble with altcoins, most especially the meme coins since last year.

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Most investors who entered between 2010 and 2016 were likely very lucky if they could actually hold their bitcoin safely. What does that mean - in late 2017, they actually made huge return where currently bitcoin's ATH was hit. Of course, you can't blame them for wanting to get rich quickly by investing in bitcoin - in fact, it wouldn't take you decade to make million of dollar in profit from your huge investment in bitcoin even if you entered in 2020.

If someone invested $500K in bitcoin in March 2020 at price of $5000 per bitcoin - then today they would have made $6.4M at price of $64K per bitcoin. Imagine that it only takes them 3-4 years to get million of dollar in return from their investment in bitcoin - so sometimes wanting to get rich quickly in bitcoin investment is never wrong when compared to other physical asset which take decade.

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Quote from: Amadi x on July 24, 2024, 05:22:45 AM

I really do not like the idea of people seeing Bitcoin as some form of get rich quick scheme or something like that. Everyone is just willing to invest in Bitcoin without having proper knowledge of what it is they are doing.
Bitcoin should be known for it's qualities such as
Durability, decentralized, divisibility,and portability..
And how it could be used to better the society, and lessen corruption from our Elites.
It shouldn't be seen as some get rich quick scheme or so.

One of the main factors behind Bitcoin's rapid adoption is the misconception people have that Bitcoin is quick rich scheme. Although Bitcoin's history suggests something like that but always treating it as a get-rich scheme is more likely to lose. Only those who know Bitcoin well and adopt it can benefit from it. Bitcoin was founded in 2009 with several goals, one of which is financial freedom. After Bitcoin became a decentralized currency people can now use it without third party interference. Any kind of foreign transaction can be completed in moments. Moreover, it has gained a lot of popularity as a trading currency at present. Everyone who held Bitcoin 9 years ago is now among the rich. People's special attention to Bitcoin will take it to greater heights. It is also considered as a symbol of economic freedom.

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Quote from: Amadi x on July 24, 2024, 05:22:45 AM

It shouldn't be seen as some get rich quick scheme or so.

This is hard to remove from the minds of the people that just speculates the lives of the actual holders. They think they're all rich and that's because Bitcoin is a sort of rich quick asset.

It's a global phenomenon when people talks about money, all ears are there and that's why Bitcoin has been also became popular because it had made a lot of early adopters rich.

But, they need to realize that those holders have gone through a lot of risks, devastations, debates, frustrations about its volatility and who knows if they've quarreled for that with a family member just to keep on holding.

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Quote from: Woodie on July 24, 2024, 04:28:36 PM

This is more likely to do with past success stories of people that invested peanuts into crypto and have come out with millions in the end...but unfortunately today everyone is regretting their investment decisions and believe they can catch the next wave 🌊 hence the faith in BTC Tongue

But knowing very well that lightning doesn't strike in the same place twice Roll Eyes

I don't think BTC will make another generation of millionaires as today's markets are heavily manipulated to see a 10000X ROI...the next jackpot of an investment could come from Altcoins for all I know but it's a Wild guess!

That's correct. A quick Google search and you'll find an abundance of examples from people who acquired Bitcoin in 2010 and forgot about them, only to find that their net worth had significantly rose a few years later. You'll also find stories such as the pizza delivery one or the thrown-away HDD in a landfill, which also add to the story by adding such publicity that makes people think Bitcoin is a get-rich-quick scheme. To be honest, you can't blame them if you're completely clueless about what it is.

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Quote from: coolcoinz on July 24, 2024, 12:40:56 PM

I don't like many things but I have to endure them. Wink

There are many many more things we might come not to like but, that’s the idea of Bitcoin, it’s all encompassing, overly open to accommodate all with each user or investor having to define just how much it means to them. Some might be just some means to make money or gain financial stability, some it’s reliability and others for its decentralized nature amongst others but, all these is what makes the cryptocurrency even a more better currency than our traditional fiat. It’s a never before seen currency, let the people find some means to build their idea about it.

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Why is Bitcoin seen as a gateway to financial stability?

This is more likely to do with past success stories of people that invested peanuts into crypto and have come out with millions in the end...but unfortunately today everyone is regretting their investment decisions and believe they can catch the next wave 🌊 hence the faith in BTC Tongue

But knowing very well that lightning doesn't strike in the same place twice Roll Eyes

I don't think BTC will make another generation of millionaires as today's markets are heavily manipulated to see a 10000X ROI...the next jackpot of an investment could come from Altcoins for all I know but it's a Wild guess!

GeorgeJohn

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Many people have different concepts of understanding bitcoin and its values. Most at times I will say that while people seems bitcoin as one of the financial stability is that it doesn't deal with government and government has no power of regulation of bitcoin, I think that's one of the elements that makes people to choose bitcoin more than anything that relates with business, secondly when you are dealing with bitcoin you will be comfortable than any thing.

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Quote from: C10H15N on July 24, 2024, 08:30:08 AM

Most people come here because they see Crypto, Bitcoin in particular, as a get rich quick scheme. Cool

The hopes are that a few will pick up on and learn sound financial principles that will lead to lucrative investments and financial stability.

I guess we can’t change how these people are thinking towards crypto or bitcoin particularly. But in reality, bitcoin is never a get rich quick but is only a tool that if we are completely aware on how to take it as an edge, we will definitely be heading into real financial stability in the future. As long as we know bitcoin well and we know exactly what we are doing, then leave it to bitcoin and just trust the process patiently.

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Quote from: Finestream on July 24, 2024, 05:42:20 AM

We can’t blame the people seeing bitcoin as an instant gateway to being rich simply because the social media influencers are instilling that kind of mindset to them, which I believe is very wrong. And as long as the demand for social media is still there, people will never realize that but will continue to believe that bitcoin could be the key for fast financial stability and security.

The fact that social media is making thing look as if they always go well every time makes everything look good and that is one of the reasons that people always have mad interest in bitcoin, true that people will make money from bitcoin but it is not always, their is no way you will do bitcoin and you will not loss money its a big lie. and the kind of mind set that social media having given people it is when they experience it them self they know how it actually feel to invest in bitcoin. bitcoin will give you money but not the way the influencers are presenting it. and that is way anyone you are introducing should know the truth.

Quote

However, I don’t mean to generalize all newbies are thinking like that, but the fact that most of the newbies these days get aggressive to learn bitcoin so they can invest or trade, that proves that these people are completely convinced that bitcoin is a get rich quick to achieve financial stability.

you know newbies are always excited to invest in bitcoin because of the things they have seen on social media, and that is why you don't need to believe anything you see on social media because social media is full of lies. and the interesting thing is that when they find out the truth that is when they will be able to decide whether they will continue to invest in bitcoin or not because if you have not invested before you wont know what others have been facing.

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Quote from: Amadi x on July 24, 2024, 05:22:45 AM

I really do not like the idea of people seeing Bitcoin as some form of get rich quick scheme or something like that. Everyone is just willing to invest in Bitcoin without having proper knowledge of what it is they are doing.
Bitcoin should be known for it's qualities such as
Durability, decentralized, divisibility,and portability..
And how it could be used to better the society, and lessen corruption from our Elites.
It shouldn't be seen as some get rich quick scheme or so.

So many misconceptions have actually been made about Bitcoin over the years and that has led to many out there rather seeing Bitcoin for what it's not, I'm really glad to be on this forum which has helped broaden and expanded my knowledge and experience about Bitcoin such that I cannot be in such level of ideas about Bitcoin. Most times, others out there look at the success stories of others who are into Bitcoin and wants to replicate it almost immediately without evens considering the time it took for such persons to have attained such success and this has been the reason they see Bitcoin for the wrong idea.

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Quote from: Amadi x on July 24, 2024, 05:22:45 AM

I really do not like the idea of people seeing Bitcoin as some form of get rich quick scheme or something like that. Everyone is just willing to invest in Bitcoin without having proper knowledge of what it is they are doing.

I don't know about you but in where I live, people no longer think about bitcoin as some sort of get rich quick scheme out of many bad experiences and increased awareness of Bitcoin. Right now, what people in my locality see as the get rich quick scheme are the airdrops and other crypto games. I would say that they even now understand that is difficult to get rich quick from these air drops but they try anyways.

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Quote from: Amadi x on July 24, 2024, 05:22:45 AM

I really do not like the idea of people seeing Bitcoin as some form of get rich quick scheme or something like that. Everyone is just willing to invest in Bitcoin without having proper knowledge of what it is they are doing.
Bitcoin should be known for it's qualities such as
Durability, decentralized, divisibility,and portability..
And how it could be used to better the society, and lessen corruption from our Elites.
It shouldn't be seen as some get rich quick scheme or so.

Bitcoin is seen as a gateway to financial stability for several reasons:

Durability: Bitcoin is digital and cannot be destroyed, making it a reliable store of value.
Decentralization: It operates on a decentralized network, reducing the risk of corruption and central control.
Divisibility: Bitcoin can be divided into smaller units, making it accessible for transactions of any size.
Portability: Being digital, Bitcoin can be easily transferred across borders without physical limitations.

These qualities can help create a more stable and equitable financial system, reducing reliance on traditional financial institutions and mitigating corruption.

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Quote from: Ojinga on July 24, 2024, 07:26:47 AM

why people do see Bitcoin as the gateway to get rich it's because it's the most profitable platform in the world, and when it comes to the market Bitcoin it's the best ever to make exchange. Infant Bitcoin is a life changing investment platform anyone that invest in Bitcoin never goes broke if only he knows how Bitcoin works, so I would say Bitcoin is the fastest way to get rich and it can also solve the problem of the society that if only the government makes it to be regulated and centralized in the societies.

I totally disagree with you; in fact, I will say that you yourself don't know what Bitcoin is all about; for you to refer to it as a platform proves it all, and those who don't know how Bitcoin operates only end up spreading misinformation, which will mislead the general public to believe that Bitcoin is what it's not.

And your type of people are also the same reason why most people see Bitcoin as the ultimate poverty killer.

To be truthful, if you end up telling someone about bitcoin the same way you explain it here, you will only end up getting yourself in trouble if after they make a little investment and are unable to see the wealth you promise them, then you will have other explanations to give.

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It would seem that time horizon is a key point in any discussion about financial stability as it pertains to Bitcoin. It would mean starkly different things to someone who invested in 2015 than it would to someone investing more recently. People coming in from traditional equities don't have a grasp of how volatile bitcoin can be. Can you imagine if the stock market had five 20% declines in the last year, as Bitcoin has had? There would be panic in the streets whereas Bitcoin has weathered these volatile events to emerge within striking distance of its all-time high. There will always be folks that buy when there is a sizable decline and then sell when there is some appreciation. The key to Bitcoin achieving $80K and beyond, is for people to take a longer term HODL attitude and not treat it as a short-term investment vehicle.

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I don't like many things but I have to endure them. Wink

There will always be people who want to make quick money and don't blame them. What would you do if you had a family to take care of and not enough money? I'm in fact happy these people choose bitcoin over some shitcoins that offer ridiculous gains of 200 or 300 % a year and there are suckers who believe they can pull it off because shiba inu or some other pepe coin went up x%

People have to grow up in crypto to understand how to make money in a safe way. Many people learned that by getting burned over and over again and going through the depression phase a few times.

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