Why most beginners so much believe bitcoin can make rich - page 2.

Nonstop_H

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Quote from: Y3shot on December 10, 2023, 02:11:17 AM

What make people so much believe that immediately they just buy bitcoin they will become rich, like I was just thinking about this, if people think the bitcoin you buy will bring more bitcoin just like that.if bitcoin should be something that only brings profits I doubt if it will be still existing today. It would have ended just like other ponzi schemes that placed over the years.

The way some people think about bitcoin they feel too comfortable and so relax as if life is so easy like money can be achieved with no form of work. Investors gain profits from Bitcoin because they worked for it, they had patience with the up and down of the market, This is not an easy work that anybody with no understanding can achieve from bitcoin.
Normally in life no pain no gain, to buy Bitcoin and sell required a long time holding which can not be overemphasize here, to me this thread is a problem that requires solution because many references has been made how newbies think Bitcoin is a quick money making scheme, I do not totally sucome to that reason been that in life if you are not informed you are deformed why you think the beginners need more research before going into Bitcoin trading there is nothing wrong in posting usefull links that will be usefull to them by so doing you are also solving problems though to those who are willing to learn. Conclusively is far better to profar solution than discussing just the problem .

Belarge

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Quote from: Y3shot on December 10, 2023, 02:11:17 AM

What make people so much believe that immediately they just buy bitcoin they will become rich, like I was just thinking about this, if people think the bitcoin you buy will bring more bitcoin just like that.if bitcoin should be something that only brings profits I doubt if it will be still existing today. It would have ended just like other ponzi schemes that placed over the years.

We make and print money with our good ideas and not everything require hardwork. We should always make sure we're having a nice time trying out good promising projects in the market, always keen on taking huge steps to focused on ourselves. Secondly bitcoin is not a get rich quick scheme, I'm aware about ponzi schemes and how they've dealt with people mercilessly. Ponzi schemes are quite different from bitcoin because it's been in existence for years and have generated enormous revenue for the crypto space.

Stable090

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Quote from: Y3shot on December 10, 2023, 02:11:17 AM

What make people so much believe that immediately they just buy bitcoin they will become rich, like I was just thinking about this, if people think the bitcoin you buy will bring more bitcoin just like that.if bitcoin should be something that only brings profits I doubt if it will be still existing today. It would have ended just like other ponzi schemes that placed over the years.

If you enter YouTube now or you see some signal providers on telegram or WhatsApp, they go make you think say if you just invest in bitcoin then you don make money be that, or immediately wey you start to Dey trade bitcoin, you don Dey get money be that, and things no Dey work like that. Bitcoin no be get rich quick scheme, if you wan really make money from bitcoin, then you go need buy am and hold am for long time be that ooo.

Any body wey come meet you wey ask you say make you invest bitcoin in a platform and you go make quick return within a short particular time without any risk involved in it, make you just know say that person wan scam you.

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Quote from: Y3shot on December 10, 2023, 02:11:17 AM

What make people so much believe that immediately they just buy bitcoin they will become rich, like I was just thinking about this, if people think the bitcoin you buy will bring more bitcoin just like that.if bitcoin should be something that only brings profits I doubt if it will be still existing today. It would have ended just like other ponzi schemes that placed over the years.

The way some people think about bitcoin they feel too comfortable and so relax as if life is so easy like money can be achieved with no form of work. Investors gain profits from Bitcoin because they worked for it, they had patience with the up and down of the market, This is not an easy work that anybody with no understanding can achieve from bitcoin.

Some of these taughts are accumulations of what they have seen around with a very poor knowledge or perspective as to what it actually is. Some persons have actually sold off the wrong idea to their friends and when these newbies happens to meet this as their first idea of Bitcoin it causes them more harm than good because they think wrongly about Bitcoin meanwhile they could actually get proper education and understand better. Bitcoin has actually gotten some others rich but it wasn't an instantaneous thing, it took months and even years of consistency in the cryptocurrency industry for the to have gotten to the point they are and not just by getting a few units of Bitcoin.

Sometimes na all those street boys dey cause this things, when dem don gor run client street collect their Bitcoin dem go come dey lie say dem dey into Bitcoin say na wetin dem dey wkrkwey dey give dem money be dat so newbies now go think say na true say immediately dem buy Bitcoin dem go start to dey ball not knowing say no b like dat, so e good make person dey understand something well fes before dem go dey do all these things dem.

Africolo

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Quote from: Zackz5000 on May 04, 2024, 04:26:19 AM

So many might have heard it across social media, news how people are testifying how Bitcoin investment has made them rich not knowing the strategy they might have used to be become rich through Bitcoin investment.
One can only become rich in Bitcoin investment.

1. By not seeing Bitcoin investment as a get rich quick or Ponzi scheme where you invest $5 now and get $50 tomorrow.

2. By hodling your Bitcoin for a longer period of time like 4-10 years

3. By also investing an amount you can afford to loss

Sometimes it's not about how much you hodl, but about when to enter the market and when not to. There are traders who merely hold for 2-3 months and then take profits, and there are some that wait for years before taking profits and so on. Let's take a more practical approach: those who bought BTC at $68k in 2020 were in serious losses until last month, when BTC hit a new ATH of $72k, resulting in a $4k profit on 1BTC. Now compare that to those who bought at the $34k dip last year and sold at $72k this year, resulting in an x2 profit on their investments in less than a year, which is more than those who invested in 2020.

Buying Bitcoin has never made anyone poor so yes it's not a get rich scheme and also not a get poor scheme so you're always going to be on profit level if only you know what you're doing right.

Zackz5000

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Quote from: Y3shot on December 10, 2023, 02:11:17 AM

What make people so much believe that immediately they just buy bitcoin they will become rich, like I was just thinking about this, if people think the bitcoin you buy will bring more bitcoin just like that.if bitcoin should be something that only brings profits I doubt if it will be still existing today. It would have ended just like other ponzi schemes that placed over the years.

The way some people think about bitcoin they feel too comfortable and so relax as if life is so easy like money can be achieved with no form of work. Investors gain profits from Bitcoin because they worked for it, they had patience with the up and down of the market, This is not an easy work that anybody with no understanding can achieve from bitcoin.

So many might have heard it across social media, news how people are testifying how Bitcoin investment has made them rich not knowing the strategy they might have used to be become rich through Bitcoin investment.
One can only become rich in Bitcoin investment.

1. By not seeing Bitcoin investment as a get rich quick or Ponzi scheme where you invest $5 now and get $50 tomorrow.

2. By hodling your Bitcoin for a longer period of time like 4-10 years

3. By also investing an amount you can afford to loss

sotelorene

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The general knowledge is that one can make money through bitcoin but getting rich is not something that just happened anyhow though it can happen anytime and any day provided you invest when the coin is about to skyrocket. I think the reason why they always have this thought is because of what they have heard about bitcoin and what they have also see with their eyes but they don't actually know how it works and that is why most of them always get scammed because of that mindset.

AVE5

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Quote from: Y3shot on December 10, 2023, 02:11:17 AM

What make people so much believe that immediately they just buy bitcoin they will become rich, like I was just thinking about this, if people think the bitcoin you buy will bring more bitcoin just like that.if bitcoin should be something that only brings profits I doubt if it will be still existing today. It would have ended just like other ponzi schemes that placed over the years.

The way some people think about bitcoin they feel too comfortable and so relax as if life is so easy like money can be achieved with no form of work. Investors gain profits from Bitcoin because they worked for it, they had patience with the up and down of the market, This is not an easy work that anybody with no understanding can achieve from bitcoin.

Let's bring to such mentality kind of individuals and Investors attentions up to the real fact of bitcoin primary purpose of creation that it's a digital currency for alternative means of payments in place of the fiats While it's alternatively source of investment for profit gains.
And if bitcoin was just all about for profits then it'd had collapsed before this day but because it's a service for payments and other potentials that's why it has existed til date.

While I believe with you that bitcoin isn't a quick get rich investment neither is it just an inventory for source of income only, many individuals feels bitcoin is prioritized for profit gains and so much they gets lost more believing that as the case maybe if they get their funds invested on it just so magically that they'd make sudden profits.
Right then if they don't find that expectations after investing their funds they'd just assume that bitcoin is freak and not what's said that it's that it really was.
I fear about if anyone has even told them that it was a get rich quick project.

Ever-young

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Quote from: Y3shot on December 10, 2023, 02:11:17 AM

What make people so much believe that immediately they just buy bitcoin they will become rich, like I was just thinking about this, if people think the bitcoin you buy will bring more bitcoin just like that.if bitcoin should be something that only brings profits I doubt if it will be still existing today. It would have ended just like other ponzi schemes that placed over the years.

The way some people think about bitcoin they feel too comfortable and so relax as if life is so easy like money can be achieved with no form of work. Investors gain profits from Bitcoin because they worked for it, they had patience with the up and down of the market, This is not an easy work that anybody with no understanding can achieve from bitcoin.

You are right and that is what is killing some investors today, they see others getting rich through Bitcoin and they think it's by magic, they don't even want to know the process they pass through,the risks they go through before getting to where they are now, they believe is by investing and all that but they got that wrong, they need to get close to people who are already into it for more understanding and also do more of research by themselves so that they won't also get mislead because others are good in misleading people with the wrong information. So they ought to be careful and always remember Rome wasn't built in a day, it's by gradual process, it takes a lot to become rich it's not just a overnight something.

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People can only think like this when they are misinformed or uninformed, bitcoin has they way it works so is any other profit oriented ventures, the idea of making quick money in bitcoin is only for people with less or no understanding of how bitcoin works, if you make versed research about bitcoin you will always come across the uptrend, downtrend, volatility, instability, security and decentralization, all this things mentioned here mainly the first four will make you understand that bitcoin is invented for people that can endure circumstance, because you don't expect profit immediately but if it comes fine, just position your mind for long-term investment that's what Bitcoin is mainly for, so that you won't be disappointed along the run, this is why is also advisable to spread your investment that's if you have what it takes to do such.

rachael9385

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This your topic tight wella, as nah the only things way I dey see for some board, so e still dey good as you also think to carry am come this our board too.
Sha nah only those way no know watin risk be nai go fit dey think am say Bitcoin investment nah to just invest and within some minutes or hours you go get back profits or get back your losses. Omor that one nah big lie, no investment way dey like that, unless say them won scam person nai them fit just talk like that, with the kind of knowledge way I done get about Bitcoin through the help of this forum, I no sure say me go fit believe any of those shit talks way person or group of people go just come and advertise say invest and get back profits in few hours.
Some of this talks or I go call am misunderstanding about Bitcoin, nah based on, infact I go say nah from side talks and still most of them dey fail to do their own research before them start to believe or tell other about Bitcoin investment.

Franctoshi

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One of the things I do think that contributed to this misinformation about Bitcoin seeming a get rich quick scheme to some newbie investors is the fact that most people who introduced their friends and family to Bitcoin failed to educate them and tell them the truth, and again people are only interested in hearing about the profit side of Bitcoin without asking how long it took those people who have profited from Bitcoin investment how long it took them to realize such profit and success and thus are carried away with profit side they hear about.

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Quote from: Salahmu on December 16, 2023, 11:30:54 AM

Quote from: Y3shot on December 10, 2023, 02:11:17 AM

What make people so much believe that immediately they just buy bitcoin they will become rich, like I was just thinking about this, if people think the bitcoin you buy will bring more bitcoin just like that.if bitcoin should be something that only brings profits I doubt if it will be still existing today. It would have ended just like other ponzi schemes that placed over the years.

The way some people think about bitcoin they feel too comfortable and so relax as if life is so easy like money can be achieved with no form of work. Investors gain profits from Bitcoin because they worked for it, they had patience with the up and down of the market, This is not an easy work that anybody with no understanding can achieve from bitcoin.

Well actually what you said are all true but sometimes I wouldn't blame such person because they already had a bad orientation through the person that introduces them because there is no way you can brought somebody into crypto investment and after mentoring the person all that he needs to no about Bitcoin and possible risk that's associate in Bitcoin trading or investment and he will still have that perception on Bitcoin, so perhaps if most people are well mentored before coming into Bitcoin you will see that there mindset about Bitcoin will change because they will realize that investment on Bitcoin is not a get rich quick but on the contrary with time and consistent investment they will surely benefit from Bitcoin.

Although one of the factors or forces that has been given most people that mindset that Bitcoin is a get rich quick investment is because of most traders because I believe that in as much as we all no that trading is very risky with a very higher chances of losing your funds but however there are numerous people who are constantly wining there trading and making a lot of money through trading, so perhaps if a beginning listings to those kind testimonies they will be thrilled to venture into Bitcoin with the mindset of becoming rich overnight without knowing that reversal could be the case if they are not properly mentored.

You don talk am finished di people wey dey carry dem come nai dey cause all di thinking say Bitcoin na something wey dem go invest and get money but dem forget to tell them di long duration of the investment. And many of them join it because of the orientation given to them. And those peer influence only told them the advantages and not the disadvantages. And once they came the next thing na to get Bitcoin and become rich people like yahoo boys.

Bitcoin no be something wey people go come and make money di way dem want am.

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Quote from: Y3shot on December 10, 2023, 02:11:17 AM

What make people so much believe that immediately they just buy bitcoin they will become rich, like I was just thinking about this, if people think the bitcoin you buy will bring more bitcoin just like that.if bitcoin should be something that only brings profits I doubt if it will be still existing today. It would have ended just like other ponzi schemes that placed over the years.

The way some people think about bitcoin they feel too comfortable and so relax as if life is so easy like money can be achieved with no form of work. Investors gain profits from Bitcoin because they worked for it, they had patience with the up and down of the market, This is not an easy work that anybody with no understanding can achieve from bitcoin.

OP your very correct about the believe of beginners in some aspects the reason is that not all new beginners have the mind set of becoming rich overnight with this Bitcoin those who are short of information regarding the platform hopefully think is just an instant rich not knowing is matter of time and some time turn to be win and loss . But one thing that bring motivation in everything which is another anchor to people believe is there predecessor to them who have such believe have seen those who is well doing through the platform despite not considering the the spent believe they will also be like them some day. As for me as beginner I have come to study and see that Bitcoin is platform and forum that pays accordingly base on effort and work done is place where grace speak less and the fraudulent some how so good limit compare to others platform except those who want to get rich faster than their work who can fall prey but those who calculate and follow the rules hardly fall conclusively many is of that believe base on there level of information and study gathered why some are not because of limited information working on speculation be it as it may even as point of speculation can achieve it of making rich if they put to work what the speculate.

Coyster

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Na for the same reason wey e be say once you tell person say you get Bitcoin, the person go immediately think say you dey rich, many people erroneously think say Bitcoin na ticket to wealth, i know say Bitcoin price dey pump oh, especially in the long run, but before you go even earn better ROI from Bitcoin, you go gats invest a lot of money into it, you no fit just put small money, come dey expect to get rich through it, and for underdeveloped country like ours, how many people get the money to invest, without investing more than they can afford to lose. Another thing be say many people no sabi how to keep their assets secure, so dem go even lose am before them go fit make ROI from Bitcoin.

Kelward

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Quote from: Salahmu on December 16, 2023, 11:30:54 AM

Quote from: Y3shot on December 10, 2023, 02:11:17 AM

What make people so much believe that immediately they just buy bitcoin they will become rich, like I was just thinking about this, if people think the bitcoin you buy will bring more bitcoin just like that.if bitcoin should be something that only brings profits I doubt if it will be still existing today. It would have ended just like other ponzi schemes that placed over the years.

The way some people think about bitcoin they feel too comfortable and so relax as if life is so easy like money can be achieved with no form of work. Investors gain profits from Bitcoin because they worked for it, they had patience with the up and down of the market, This is not an easy work that anybody with no understanding can achieve from bitcoin.

Although one of the factors or forces that has been given most people that mindset that Bitcoin is a get rich quick investment is because of most traders because I believe that in as much as we all no that trading is very risky with a very higher chances of losing your funds but however there are numerous people who are constantly wining there trading and making a lot of money through trading, so perhaps if a beginning listings to those kind testimonies they will be thrilled to venture into Bitcoin with the mindset of becoming rich overnight without knowing that reversal could be the case if they are not properly mentored.

Na true you talk, many beginers wey de think say Bitcoin na get rich quick scheme, be di people wey don hear about success stories of early investors wey buy Bitcoin wen Satoshi, first create am. Also dos wey here say dem de hammer for Bitcoin trading, say if you enter crypto market, trade small, sharp sharp you don make plenty money. Most times na lack of proper knowledge de cause am, so e de very important take time to make proper research before we go engage in any money matter, especially for cryptocurrency wey de very volatile.

All di same e de very important for newbies to note say long term investments for Bitcoin, na guarantee say di investors go make plenty profit when di market enter bull run.

GiftedMAN

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Op, a lot of people have been misinformed about what investing in Bitcoin is all about so they only keep ears to the profit making aspects of Bitcoin as if it's a quick money scheme, most people have gone to the level of not finding out things about Bitcoin before investing they only believe that once they invest they will automatically become millionaires in the nearest future which is a very wrong thinking.

Secondly I think lack of proper research, knowledge and orientation is also one of the reasons why most people misunderstand the importance of Bitcoin other than the profit making which they see as the only usefulness of Bitcoin. I think people needs to be properly guided because a lot of them have lost what they invested and some lost hope because they couldn't achieve what they planned to achieve with Bitcoin but I believe a lot of works still needs to be done to promote and teach people how they can actually make profit investing in Bitcoin and I think it will really take endurance and good plans to ever make good profit especially if you are a long time holder.

Salahmu

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Quote from: Y3shot on December 10, 2023, 02:11:17 AM

What make people so much believe that immediately they just buy bitcoin they will become rich, like I was just thinking about this, if people think the bitcoin you buy will bring more bitcoin just like that.if bitcoin should be something that only brings profits I doubt if it will be still existing today. It would have ended just like other ponzi schemes that placed over the years.

The way some people think about bitcoin they feel too comfortable and so relax as if life is so easy like money can be achieved with no form of work. Investors gain profits from Bitcoin because they worked for it, they had patience with the up and down of the market, This is not an easy work that anybody with no understanding can achieve from bitcoin.

Well actually what you said are all true but sometimes I wouldn't blame such person because they already had a bad orientation through the person that introduces them because there is no way you can brought somebody into crypto investment and after mentoring the person all that he needs to no about Bitcoin and possible risk that's associate in Bitcoin trading or investment and he will still have that perception on Bitcoin, so perhaps if most people are well mentored before coming into Bitcoin you will see that there mindset about Bitcoin will change because they will realize that investment on Bitcoin is not a get rich quick but on the contrary with time and consistent investment they will surely benefit from Bitcoin.

Although one of the factors or forces that has been given most people that mindset that Bitcoin is a get rich quick investment is because of most traders because I believe that in as much as we all no that trading is very risky with a very higher chances of losing your funds but however there are numerous people who are constantly wining there trading and making a lot of money through trading, so perhaps if a beginning listings to those kind testimonies they will be thrilled to venture into Bitcoin with the mindset of becoming rich overnight without knowing that reversal could be the case if they are not properly mentored.

Richbased

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Quote from: CryptopreneurBrainboss on December 14, 2023, 06:45:25 PM

Quote from: Y3shot on December 10, 2023, 02:11:17 AM

What make people so much believe that immediately they just buy bitcoin they will become rich, like I was just thinking about this, if people think the bitcoin you buy will bring more bitcoin just like that.if bitcoin should be something that only brings profits I doubt if it will be still existing today. It would have ended just like other ponzi schemes that placed over the years.

Technically when you buy and hodl Bitcoin you're going to make profits if you can have some patience with your investments. Nobody had bought had held Bitcoin and regretted it. The only time you'll regret is when you sell due to fear of the market crashing. Bitcoin has it's time when the market is red and when you sell during this time, you'll be at lost it isn't like by hodling Bitcoin that you're going to lose, no you only lose when you sell so don't sell but keep holding. People are yet to under how the financial markets works, if they do they won't be worried about the ups and down of Bitcoin price. Anything tradable has be to volatility, what just make that of Bitcoin different is because it's a new market and doesn't have many users yet compared to other financial markets.

Yeah, if one can endure and leave the Bitcoins they're hodl for a long interval of time they're gonna make profits for sure but most people are just afraid of the fluctuations in the price of Bitcoin so whenever they see that the price is dipping they will just rush and exchange their Bitcoin with fiat. So impatience and fear is the major reason why it looks as if some Bitcoin investors doesn't make profits or they make little profits and again one can't just buy Bitcoin with a low amount and expect to make it huge within a short interval of time as it is a gradual process before one can make huge profits and making huge profits also requires huge investment.

Makus

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Truth be told, Bitcoin no be get rich quick scheme even say we dey get small small profit for inside, when we dey invest for bitcoin na patient be the main virtue wey we suppose carry for mind towards our investment, beside before you invest e dey very advisable make we for get wattin go dey give us money so that we no go dey depend on our bitcoin investment, so newbie ot beginner make put am for una mind say na when you leave you investment Tay naim you go get better profit, and one of the way when you go fit get this patient na when you use DCA instead of lump sum because for DCA na just small small moni go dey leave your system to your wallet and you no go too feel am, na why e dey required of every newbie to use DCA first until when Dem don gain enough psychological and emotional balance when we reach bear season then Dem don graduate to fit use lump sum or other strategy.

Topic: Why most beginners so much believe bitcoin can make rich - page 2. (Read 822 times)