Why is Bitcoin seen as a gateway to financial stability? - page 3.

Ndabagi01

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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.

It shouldn’t be seen as a get rich quick scheme but do you also know that speculations about that about bitcoin is what has brought more users of bitcoin today. I’m not trying to justify sharing of news or information that is not actually true in its real sense when looked into. Even if an information like that is shared and persuaded you to join bitcoin, at least you should learn more and see how things work here instead of relying on the actual information that got you here. That is why self learning and acquiring the right knowledge is encouraged in this space to avoid been misled by someone or make mistakes that cannot be undone in the long run. Bitcoin is just beyond what the public share about it, there are more to that and one can only know when they research more about it by themselves.

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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.

It's because others are convincing people to invest on it without explaining what it should be. There is no doubt that Bitcoin is such a good investment and store of value but what lacks with the explanation is about the get rich overnight mindset that's being formed to the listener.

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

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.

While let's sink in to that, there will be people that won't change their minds for that. Bitcoin has become a distribution of wealth from the rich although it's still different from having that idea as a get rich quick scheme. There's so much to say about Bitcoin from a newbie investor but I guess that the easiest explanation is this, just invest in Bitcoin and you'll make money without doing anything.

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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

If they look at it this way, they will be scammed with Ponzi schemes and Ponzi people because these scammers will noisily tell about Get Rich Quick chances. It is not too hard but very easy and you can achieve it with my guide.

When you fall to their sweet words and scam traps, you will lose money quickly, not get rich quickly.

Bitcoin can help you get richer but it needs time like some years, one, two or three market cycles that means you will need about 4, 8 or 12 years to get richer with Bitcoin.

If you can hold, you can get rich with Bitcoin.

Zoomic

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If we are talking about financial stability, then bitcoin does not guarantee that. How will one attain that level of stability when the price of bitcoin is highly volatile? Bitcoin can only make you rich if you can be patient enough to allow the value of your investment appreciate so you can get profits from it. Those who were told that bitcoin is the quickest and easiest way to get out of poverty have been lied to. Getting rich is actually possible with bitcoin but then, you do not have to quit your job inorder to rely solely on bitcoin. The same bitcoin which has elevated the status of your next door neighbour can also make you so miserable if you are not lucky.

Bitcoin is a high risk investment. If at any point we intend to introduce anyone to bitcoin, we should not fail to let them know that bitcoin price is not stable therefore, they should prepare themselves for a long journey with bitcoin.

Blitzboy

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Bitcoin isnt your grandpa's money. This is the financial future. Its durable, decentralized, and it cant be controlled by anyone. This is about eliminating the middlemen, the banks, the bureaucrats - those men who have been accumulating riches off our backs for far too long. Its all about openness, folks.

Furthermore, Bitcoin allows those who have never had access to a bank account an opportunity to engage in the economy. Such sort of opportunity exists that can transform the planet. We're not merely discussing money here. We are discussing helping individuals escape poverty and provide them a genuine chance at a better life.

Still, we have to educate everyone about this. We should present them the whole picture. This goes beyond simply purchasing Bitcoin and tracking the rising count. Its about grasping this amazing technology and how it may improve our planet.

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

Bitcoin should be known for it's qualities such as
Durability, decentralized, divisibility,and portability..

Now you got yourself into even more trouble. Bitcoin is a Get Rich Quick Scheme that is DECENTRALIZED, DURABLE, PORTABLE and DIVISIBLE? You monster!

Here is the deal. Some people simply do not want to accept the truth or to have an open mind to new stuff. These are people who barely care what Bitcoin could truly be about. Either they finally decide to unclog their ears and listen or open up their eyes and research by themselves or they will stick to this story for how ever long enough. Some people are simply hard to impossible to change.

Pokapoka124

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As Bitcoin becomes more popular and the price increases we will see more people investing in Bitcoin for the sole reason of making profit. Words like decentralized, self custody, p2p, do not mean a thing to a person whose primary concern is profit. And that’s why many of them buy shitcoins instead.

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

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 say Bitcoin can reduce corruption. But you did not tell us how.

The only way Bitcoin can be used to mitigate corruption in a country is through the blockchain technology. The reason why corrupt leaders get into office and remain in office is because the elections are rigged. If the electoral system is built on the blockchain, it will be impossible for the interested parties to tamper with the results.

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Quote

Why is Bitcoin seen as a gateway to financial stability?

The best way is to use bitcoin your way, you don't need to care about how others use bitcoin because you or anyone else will not be able to change that. Satoshi created bitcoin for everyone and everyone has different needs, so there is nothing wrong with them using bitcoin to get rich as long as they are happy with their decision.
Similar to a poor person and what they need is money and profits to improve their lives. You can't be selfish and force them to only use bitcoin as a peer-to-peer currency to protect their privacy when what they need is money. I agree that bitcoin is not a get rich quick tool but there is nothing wrong with people taking advantage of it in search of profit or financial stability.

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Bitcoin doesn't get corrupted in a way that banknotes can get damaged or destroyed. However, considering that Bitcoin has only been around for less than 2 decades and that it is purely digital, it can be argued that its durability is questionable. The other three components make sense to me.
As for improving society and decreasing corruption, such claims need more elaboration that can explain how that can happen. Maybe some corruption risks can be reduced due to transparency of BTC transactions, for example, but that can work only if 'the elites' publicly declare their wallet addresses. As for improving society, Bitcoin can be used for charity and other important work, but so can any other kind of money.

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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.

But bitcoin was created as a completely different asset - electronic digital money, and now it is a speculative investment instrument (like it or not).

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

Everyone is just willing to invest in Bitcoin without having proper knowledge of what it is they are doing.

Only minimal knowledge is needed if it makes a profit: buy and hodl.

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

Bitcoin should be known for it's qualities such as
Durability, decentralized, divisibility,and portability..

Bitcoin is known for these properties. But it is better known for its profitability.

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

And how it could be used to better the society, and lessen corruption from our Elites.

The elite are also already interested in the bitcoin. For even greater enrichment.

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 not a quick scheme. But slow.

Spaceman1000$

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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 cannot stop people from thinking the way they want, you just have to educate the few you come across. But one thing I would like you to understand is the fact that, there is already a narrative out there that bitcoin ownership gives you a leverage on your financial stability, So people are already in the know about the quality of asset bitcoin is, moreover this assertions are very true and authenticated.

But one thing about every society, For every information that is out there in the public, some people will want to twist it and turn it to their own parochial narrative, just to suit whatever belief system they want. So you see a lot of misformed person's wanting to invest in Bitcoin with the hope of getting back their interest in a short time, because of what they where told, not knowing that it doesn't work like that. This is reason why is always advised for you to do your own personal research and know what you're about to go into.

C10H15N

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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.

Eternad

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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.

Financial freedom is the right term since Bitcoin offer a permission less transaction and has no limit compared to banks in terms financial management.

The financial stability on Bitcoin is case to case basis since the price is too volatility and it might inflict a negative effect on someone if invested the wrong way. But in general, Bitcoin can offer a good financial boost if they will just buy and hold.

Solosanz

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Even people have understand what Bitcoin is and it's utilities, but if they buy and hold their Bitcoin in centralized exchanges instead of move it to non custodial wallet, they're still support the centralization and doesn't decrease the corruption or manipulation from The Elites.

Bitcoin isn't a financial stability, jobs is. If someone offer a same job from different companies, one is paid in Bitcoin and the salary is $5K/month while another one is paid in USD and the salary is $100K/month, I will choose the second one.

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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.

It is not, the one who think that it's a get rich quick scheme are the same people who are going to quit very early because it's obviously will not satisfy them. And the people that are propagating it as simply ignorant about what Bitcoin is. Or just trying to portray it in a bad way, short of saying that BTC is a scam or a Ponzi scheme. But for those the majority of us, who have been here since 2017 till now, we've learn that Bitcoin is not like that.

But it shouldn't be taken as the one who will solved every problem, it's not like a magic bean for every human issues we have like corruption or elevating a country. It could be a hedge though to inflation and preserved our wealth and everyone can jump on the bandwagon, from the elites and wealthy people to average joe like the majority of us here.

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Due to its profit potential as an investment of course. However, this impression is not advisable. Look at how volatile the market price of Bitcoin; it moves depending on volume and demand which means there's no certainty of its market value whether it would go up or not. Also, how would you define financial stability? For me it is a state where someone has no problem with daily expenses and other bills including needs and wants. Bitcoin is a profitable investment but profit won't be taking place on a daily basis. This misconception is also why many people are in panic whenever a crash is happening. No single investment could give you a financial stability unless you are having millions of worth into it. But if you are a casual investor then this expectation might not be met, unfortunately.

Quote from: Oshosondy on July 24, 2024, 06:06:28 AM

Bitcoin is not a gateway to financial stability. Bitcoin is an asset that it's value increase over long period of time. Unlike the fiat from the government.

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

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 are right that bitcoin should not be seen as a get rich quick asset, but I do not agree that it can lessen corruption. What will lesson corrupt is from how the government structure the government in a way corruption can be reduced significantly.

Corruption is with leaders of a country and no currency will be stopping its occurence simply because doers are responsible of it and also, that's something which has been long existing with many countries.

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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.

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.

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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.

They just fall into something where they expect to much on bitcoin since they heard the information if not came from scammers to those people hyping much bitcoin then show their big gains to people. That's the reason why other people create a fantasy that their dream to became rich might came true if they also invest on bitcoin.

Bitcoin should be known as what you have mentioned since there are good qualities of bitcoin that can really give good advantage to people who use it. But also we can't deny the fact that there are chances for holders to earn especially if they know what they are doing and knowledgeable enough on how to handle well their accumulated bitcoins.

Oshosondy

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Bitcoin is not a gateway to financial stability. Bitcoin is an asset that it's value increase over long period of time. Unlike the fiat from the government.

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

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 are right that bitcoin should not be seen as a get rich quick asset, but I do not agree that it can lessen corruption. What will lesson corrupt is from how the government structure the government in a way corruption can be reduced significantly.

Nwada001

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Bitcoin is seen as a gateway to financial stability because that's what they have been told to believe. The testimony of how Bitcoin has made people move from being poor to becoming wealthy overnight is what most people have conceived in their minds before coming into Bitcoin.

The first information you had about something left the person with the decision of what they would believe, so to answer your questions directly, one of the main reasons why some see bitcoin as a means of escaping poverty is because of misinformation. Until they make their own research, some will still live on with that belief.

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