Topic: Why most beginners so much believe bitcoin can make rich (Read 829 times)

I had a similar conversation with a friend if you take a look at all these business owners they did not start their businesses with a small amount of money, and if you come to look at it they invested when little money still had value, it was to their favor and they have built their selfies empire and they have made their self billionaire and created a generation wealth for their entire family and that is why you see that they continue to become rich that was the whole aim. and that is exactly related to Bitcoin if you are investing a huge amount of them you should at the same time have a huge profit in return. and starting up as a beginner comes with a lot of challenges even doubting, you will feel the money is not coming on time. and when you know you will have fewer worries about your investment and that is among the reasons you need to go for the knowledge before investing because you will have good control over everything.


Yes don't just start and the next thing you are already giving up you have to have goals and the same time be determined and take them seriously I always notice that different people have different strategies adopted in the market. it is best to find what works for every individual. and if you handle the market well with a huge capital then you will have a good lead then the market and you train your self to be a built professional when it comes to trading. and all the challenges that Bitcoin comes with are something that can be handled even emotionally because I came to understand that being smart is an advantage so grabbing the opportunity to trade and then making use of it wisely will show in your profits.

Yes, Na true say 99.9% of newbies wey dey see Bitcoin as gateway to financial freedom, nah those wey got introduced into it without a clear understanding how the whole stuff works, because the truth be say, nobody with a sound knowledge how this thin works no go fit expect magic overnight. While secondly, when it comes to social media influencers or content creators not speaking about the opposite side of Bitcoin, but rather always profit. The truth be say most of these influencers make video for the views, and as such always post what people want to see, and not the real truth, which is why when it comes to social media contents, I will always people to not to always believe them 100%.

You dey very correct for this talk wey you talk, even for social media the way some self acclaimed Bitcoin Lord dey brag how Bitcoin made Dem rich without a short period of time, Dem no dey really explain the risks and losses wey dey involved to invest in Bitcoin. E get one Bitcoin guru wey I dey follow for social media and em dey only gist us about the profits em dey get and 90% of his followers has this belief that Bitcoin makes you rich instantly. Even for forum here sef, oldies no dey really lecture us for this thing and e no good.

Beliefs and determination works in the life's of beginner's in the market. We have different pattern to evolved in the space, doing the necessary movement to skyrocket to the moon. The space is filled with volatility and we ought to be careful inother not to catch up with huge losses which will bring negative effects on our portfolio. Beginners have observed and watch the positive influence of bitcoin in the life's of their colleagues and also traders. This scenario have pave path for another dimension where we tend to watch the humongous growth of people and its clearly the criteria needed to convinces or persuade anyone to invest in bitcoin.

Many people have this belief that as soon as they buy Bitcoin, they will instantly become wealthy. However that is not how it works in reality. If Bitcoin were something that consistently brought profits without any effort, it likely wouldn't still exist today. It would have ended up like other Ponzi schemes that have come and gone over the years, but Bitcoin investment is far from being a Ponzi scheme. Unlike fraudulent Ponzi schemes, Bitcoin investment allows individuals to actively monitor the market and make informed decisions based on their profits or losses. It's a legitimate investment opportunity that requires knowledge and understanding of the market dynamics. Some individuals have a relaxed and overly comfortable mindset when it comes to Bitcoin as if life is easy and money can be effortlessly obtained. But the truth is investors who have gained profits from Bitcoin have put in the work and demonstrated patience amidst the market's ups and downs. It's not an easy feat that anyone can achieve without a proper understanding of how Bitcoin operates. No investor wants to experience losses, but it's important to maintain a positive mindset and stay focused and determined in any endeavor. Overcoming obstacles is part of the journey towards achieving great results.

That's true, You only lost when you're not patient in holding your bitcoins asset and before embracing the digital market, you must understand that the bitcoin assets are volatile financial technology potentialed to increase in value. That's apparently to say it has its times of Ups and Down which can't be predictable.
So, you to keep holding and keep eyes on the market hoping for a rise before selling. It's quite believable that those that holds longer never regrets it while those on the timelines of quick sells are most regrettable because they sells at a lower price when market is yet to rise.


It's FOMO that actually makes faithless bitcoin Investors to sell their coins and have doubts on bitcoin after looses due to their impatients.

Bitcoin is capable of making anyone rich if you understand it is not a quick-to-get-rich thing. Anyone who holds bitcoin for the long term, both newbies and pros, without the mindset of selling it for a short-term profit will surely be rich with his bitcoin investment. And don't blame newbies for thinking bitcoin will make them rich, because they are right because bitcoin will make anyone rich who invests in it and doesn't sell it when bitcoin is in a dip, and one of the reasons why newbies easily think of that is when they see testimonies online about how people got retired from their jobs because of the profit they made from their bitcoin investment. Self-custodial (decentralized) is the reason why people have adopted the use of bitcoin, and not only to get profit through bitcoin investment. With bitcoin, no one will spy on you, decide how or when to use your bitcoin, or scrutinize your transactions. Bitcoin will free us.

Most newbies that believe in this doesn't stay long in the space before they quit. Bitcoin or crypto isn't a get rich quick scheme. Even if some may be lucky to invest doing bull run and they make good money in limited time. That couldn't be applicable for everyone. To make it in the space, one needs alot of hardworking and patience. This is why it's good for us to always get inform about the pros and cons of investing in cryptocurrency before we start.

Why they believe Bitcoin can make them rich ,they have been seeing people of different kind who are into mining of Bitcoin who turned rich ,so they have seen in different ways too that Bitcoin pays that is why and the most reasons why they believe that Bitcoin can make rich

Na the truth be that but  person wey dey outside the investment no go know say Bitcoin no be quick to rich something because dey Don hear or see person wey done benefits from BTC all their mind be say immediately as them enter everything go sarara for them but waiting dey know no is that the person don exercise patient even face some heart or emotional disorder as the prices do fall and rise, the button line be say na people wey no want apply sense of details of how BTC work they quickly believe that one. There is n doubt that BTC can make rich if one endure and invest a huge sum of money and apply long term holding the results will sure but expecting it to be a sharp sharp business profit is ignorance.

The common misconceptions I have come across why many people believe that Bitcoin could make them rich is the fact that simply because they heard that if 10,000 BTC 14yrs ago could only afford just 2 Pizzas, of which that same 10,000 is roughly now approximately $610 million. Hence, due to ignorance recently, many people now think that if they too could buy a significant amount of Bitcoin, in the next few weeks or months, they could make profit of his investment, forgetting that it actually took BTC 10-14yrs, for it's value to rise that such. And one thing common about all those who think investing in Bitcoin could make them rich overnight is that they lack the basic understanding/fundamentals of Bitcoin/Cryptocurrency. Hence, it's very good people strive to acquire the knowledge first, before investing a penny into Bitcoin.

Indeed, it is quite fascinating to witness the allure that Bitcoin holds for many individuals. The belief that purchasing Bitcoin will lead to instant wealth is a common misconception that stems from a combination of factors. Firstly, the rapid and significant in the value of Bitcoin over the years has captivated the attention of the masses, fueling the notion that it is a quick path to riches. Secondly, the limited understanding of how Bitcoin operates contributes to these unrealistic expectations.

Bitcoin and ponzi schemes have lot of differences ranging from the fact that bitcoin is decentralized and owned by no one while ponzi schemes are centralized and controlled by the developers of such schemes.

Bitcoin offers transparency in its transactions and you cannot loose your coins unless you were careless with your seed phrases or private keys, but you can sleep and wake up to the reality of not being able to access the gambling sites no more. A lot of people have had bitter experiences of gambling sites folding up after they invested heavily in it, such can never be said about bitcoin.

More people adopting usage of Ponzi sites does not determine its longevity, It in fact means more money to the scammers that created it, but more adoption of bitcoin enriches all investors as the more the price goes up, the better the gains investors make from it.

Bitcoin serves as a means of investment, Job opportunity and transactions medium for its investors and users, but Ponzi has no valid features, has no economic value and can be only described as a gambling activity owing from the fact that you can either gain or loose from it. You are solely in charge of your investments and transactions with bitcoin while ponzi investors are at the mercy the admins of such ponzi schemes

bitcoin is very different from ponzi and it is in fact an insult to the lord of crypto currencies to be in any way compared to ponzi. investments in bitcoin should be highly encouraged in investment gatherings and financial consultations while ponzi shouldn't even be a topic for discussion in such gatherings and can only be introduced among gamblers.

Those beginners that think bitcoin can make a person rich overnight are those that received a false information about bitcoin.Acquiring the right knowledge on bitcoin and how it works is very important.Beginners thought on how Bitcoin make a person rich is absolutely correct but where it is misunderstood is when they think it is a get rich scheme investment.Nothing comes so easily, something similar to bitcoin you get rewarded for being patient even with the ups and downs of the market.Every means of being rich passes through some stages,so that's bitcoin's own unique stage of being rich.

Being patient with your investment, Yes, but having so much money first before you can build your portfolio, that I cannot completely agree with you. Maybe that could be one effective approach but there are so many other approaches one could accumulate a good number of bitcoin overtime without necessarily having a bank full of cash.
One effective approach is the DCA technique which I believe you're very much conversant with.
With the DCA method, you really don't need to have a bank full of cash, all you need  is to have a good source/s of income that will enable you to be able to take out some amount and buy BTC on a weekly, monthly or am interval that'll be more suitable for you, this way you can accumulate a good number of coin overtime without really having a huge sum stashed somewhere.

I don see plenty people wey be say the mindset wey make dem invest in bitcoin na to make fast money. Well most time I de feel say na people wey been introduce dem into bitcoin investment de cause am. Like if you de try convince someone to invest in bitcoin still tell am the risk and losses wey they involve too. If you see bitcoin as a making money fast type of project then na the biggest mistake wey you de make be that.

So if you are coming into bitcoin today thinking you are going to make it tomorrow then you are getting it all wrong, that why it always advisable for newbie who are willing to invest in bitcoin to try and make as much research as possible so they don’t get the wrong impression about bitcoin, so they should also know that there investment can also lead to loss. Most people who suffer loss in bitcoin are people who lack patience. Let take the current market as an instance, the market have been on dip  for sometime now so if u had invented before the dip now is definitely not the best time to sell. So most people who don’t make research before investing would panic now and even sell their holdings if possible.

And again if your are introducing anyone into bitcoin try to make dem know that getting rich through bitcoin is never a problem but the problem should be how much patience do you have, like how many years can you wait. Because that have always been the problem, most people want to get rich but lack the the patience.

it's only those that don't understand how the system works that will be afraid of investing into Bitcoin. After staying a while in this sphere I can boldly say that the chances of getting loss in Bitcoin investment at the moment is almost 3% and even for such, it's mostly for individuals that aren't patient enough to allow thier invest stay for a reasonable timeframe and have to taking at the time the need to be buying more Bitcoin.

No doubt, no one wouldn't be concerned about his investment and think about the possibility of things going wrong but when you're just too fucosed on the negatives, you can't get the best out of your investment. For those beginners that think investing into Bitcoin can make them rich, the idea isn't wrong but it's not just about investing into Bitcoin with any small amount of money and expect that overtime they will have a good amount of profit, but having a good amount of investment  is what determines if a person will be really profitable or not after holding his Bitcoin for a particular time frame.

One of the major reasons people think bitcoin investment is all about quick profit is because of the information spread out about bitcoin for example, if I’m introducing bitcoin knowledge to an individual who have not heard about bitcoin and I definitely want to exaggerate I might end up speaking false words not even associated to bitcoin. The way information about bitcoin is being spread out can be false at times, besides bitcoin is not only an investment choice but bitcoin can be use for international transactions. Bitcoin is a long term investment choice and not just patience but people should understand bitcoin is not so perfect.

Bitcoin knowledge can be acquired, just like the way everyone learnt about bitcoin likewise newly investors can also learn and invest properly except the person is not even ready so bitcoin knowledge is not an excuse. Growing through bitcoin is not all about the money but the patience and effort a newbie put into their investment, everything involves gradual process in bitcoin investment and I will advice a newbie not to invest all at once at first till they get to know about the investment, a lot of money is not so necessary at first but, gradually I believe anyone can build their financial capacity 

Getting rich through Bitcoin might not be the problem for them but the main issue there is how much do they have? Growing through Bitcoin as a beginner you really need to have a lot of money, and you still need to be patient. Well it's quite obvious that many newbies in crypto are the type that can't hold Bitcoin because most of them lack he knowledge about the process of holding and accumulating. And lastly, they don't know the strategy (pattern) they can use to gain from Bitcoin.

Their is every chance that someone could make money through Bitcoin investment and also not investment wise for people to channel or putting all their hopes of getting rich into Bitcoin because in as much as Bitcoin is one of the best investment one could venture into but it has a process which doesn't involve getting rich quick investment but instead it takes time and a lot of patients for your investment to mature which could be referred as long term holding because since Bitcoin has been able to move this far within this number of years their is also a big chance that years to come it will surely be far higher than this so perhaps if someone is consistent on investing on Bitcoin he /she will be surprised to see how far his investment most have yielded in the future.