Topic: Why most beginners so much believe bitcoin can make rich - page 3. (Read 822 times)

Every successful person begin with the decision to attempt. People are certain that no matter what happens with Bitcoin, it will be boosted. That is why everybody who purchased a Bitcoin for a huge sum of money expects to be wealthy, since once the Bitcoin achieves its all-time high, what do we expect to happen? I believe that individuals who invest early, when Bitcoin is still at a low price, will be more profitable than those who invest later. Because they know they have enough Bitcoin in their wallet, some people will start calling themselves rich. In other words, I do not believe that Bitcoin will collapse like other Ponzi schemes since it is not like Ponzi schemes.. No matter what. I have 100% sure that Bitcoin will continue to exist regardless of how people acquire it and get wealthy.
Yes, that is true, but wonderful things don't stay forever. After all, trees don't grow; they probably have a partner in back. For this reason, obtaining Bitcoin through one method isn't permanent. To put it another way, the way some individuals are profiting from Bitcoin if it's that they hold it or use it in a variety of ways to boost their revenue. Men of today have the potential to become billionaires through Bitcoin, but many are missing out on this chance because of poor calculations.

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.

Bitcoin can actually make you rich but it depends on the approach you take, it isn't a get rich quick assets but can make you rich when you buy and hodl. Others have done it in the past and it worked for them, yours isn't going to be different. You just have to know that the ride isn't all going to be smooth all through. There'll be rough times that your patience will be tested and only those who had diamond hands will be rewarded at the end of the journey.

People are too optimistic about Bitcoin because of the way the moon boys advertise it on social media platforms like YouTube. This is the reason we have many weak hands in the markets that sells at any negative news they see because they came into the market due to the hype they saw on social media without understanding how things work over here. They just think it's going to be a smooth ride up but that's not how it works.

Of a truth me my sef believe say once you acquire Bitcoin boom you done blow o not knowing that there are many ways to make profits and equally lose it normally Bitcoin dey make men see funds but miscalculation sef dey make man lose guard

If one haven't tried something themselves to know how it works, the best one could give at this instance will be nothing but mere assumptions until one can invest in the cryptocurrencies market and see for themselves how the prices and volatility makes one to doubt the potential profit from the crypto asset.

Perhaps only the stories of how it has helped investors gain more profit were told them and they believe it might be as easy as buying some BTC or crypto asset and one is made.

Well you won't have to blame them on one aspect and in the other aspect you would have to blame them aslo. Well for starters people tend to  hear all sort of news that actually gets to their head and especially when it's all about profits and this type of news is what gets to their head.

And secondly why we can blame them is that these people tend or fail to do what most anxious person or curious people should do which is to actually make research on the news that they have heard and tend to believe in their fantasy of getting rich by just acquiring Bitcoin without even knowing or researching and if only they did, they would know that acquiring Bitcoin doesn't guarantee one to be rich as gone are those days of the early person that bought Bitcoin when the price was very low.

For now if anyone wants to actually get some profits in buying Bitcoin they would need to strategise and make good use of the price advantage and hold their holdings so that they can get some profits and this method also requires lots of discipline because if you are also not discipline you might end up selling your coins at the wrong time.

I think is just individual mindset on overall investment because most people like us who just started the Bitcoin journey and doesn't have somebody that will mentor them on how Bitcoin investment tends to work normally get affected emotionally if they realize later that the profits or money they had in mind to make through there Bitcoin investment on a certain period of time did not workout.

So perhaps one of the factor that affect the mindset of most of us as a beginners is the rumors of how people are making huge money through Bitcoin trading and investment, so that's what propels most people especially most us that doesn't no much about investment to come in and invest on Bitcoin. But however in as much I may not be that knowledgeable enough on Bitcoin but I can never see Bitcoin as a get rich quick.

If you observe well, you will see that all the people who think bitcoin is an investment where they invest and get their money back in a short period of time are people who don’t know anything about bitcoin investment, especially if these people only see people. They have successfully made the investment, and they wish to do the same thing without having background knowledge of how it works. Many things are there for this type of person to know about bitcoin. Before they start investing, I cannot blame them; they need to know if the investment and who is ready will accumulate and hoard for a long period of time.

OP, you have the privilege to learn about Bitcoin from the right source, and that's why you are able to think differently from those who actually think that Bitcoin can just make them rich. Someone said that Bitcoin is not a get-rich-quick scheme or a get-poor scheme. If an individual actually has or learns about Bitcoin from the right source, they will never have the idea that Bitcoin will make them rich.

In fact, investment in Bitcoin can only generate profit depending on the amount invested. For example, if someone invests $2000 in Bitcoin and another person invests $30k in Bitcoin, their level of profit will be greatly different, and the person who only invested $2k should not expect to make more profit than the person who invested $30k.

In essence, what I'm saying is that not everyone who invests in Bitcoin will be able to generate a very significant profit. The higher your investment, the higher your profit.

If anyone thinks that Bitcoin is get rich something nai be say that person no go fit hold em coins tay, why I talk like this be say Bitcoin nah for those way get patience and discipline nai fit hold am for long, and this long guarantee dey say either you lose or you gain, so no be must say if you hold am nai you go gain the whole profits dem way dey for Bitcoin investment.
This nah one of the issues way make a lot of people done go into Bitcoin trading and this Bitcoin trading just dey like gambling for my side. No be totally gambling sha o but for me, some part of gamble dey inside Bitcoin trading.
E dey hard to understand Bitcoin trading but I assure you say there is nothing hard to accumulate Bitcoin and hold, the only thing way I see way dey hard be say, nah just for you to try reduce your expenses and accumulate Bitcoin with the kind of money way no go affect you if you use am take invest inside Bitcoin.
So, I dey try to talk say Bitcoin fit make you reach but nah with luck and good strategies, like if you have the mindset of holding for long, like 5 to 10 years then you are profit free.

Many people think that Bitcoin is to get quick rich investment scheme whereby they can just invest and make money within few weeks and when they start and didn't make it at that their predicted time they would be tired and some would even gave up the journey and sell off all and used the money. People think differently about Bitcoin investment. Some set the goal for one year and Bitcoin investment go reach 5-7 years before you can be proud of it and e good make you start am when the market e dey low well well. And anyone wey dey invest for short term and planning to make money at that time then him no plan well. And if care no dey him go loss well well. Him go get disappointment.
So make anyone wey dey invest in Bitcoin just plan to invest for long term and remove that mindset say Bitcoin go make rich quick. And many people sef dey think like that because of the people wey done make for their life through Bitcoin but dem no know say those people wey don make, e don tay for di industry. And dem don spend years for the investment. So if dem dey make am you no supposed surprised and imitate dem. You have to be patient and invest.

There are many reasons they can acted upon base on what they have heard other people talked about bitcoin, now on the internet, bitcoin is the most trending brand name people were seeking to learn or know about, some have also shared with them how their lives have been changed and renewed with bitcoin Investments they have made in the past, these and many more are what other people got motivated about in seeking their own opportunity also in making money.

Bitcoin investment is a better investment that will make you rich if he favors you and you leave it for long term but he won't be so easily to make you rich faster you need to be patient and believe in yourself that you will make profit and become rich in your investment, because everyone invests to make huge profits in bitcoin, no one wants to lose in their investment journey but definitely sometimes the market won't go well and we may likely lose on it, Beginners have seen many individuals successful in crypto and assume that if they invest, they would be rich like them. They do not realize that being rich is not easy and that you will encounter many problems before you can succeed in your investment.

I think that many people who propose bitcoin investment to newcomers only tell them about the favorable outcomes, leading them to believe that if they invest in it, they will never lose money They will just believe they will benefit at any time and become wealthy soon, which will never be realistic. I believe this is why many beginners believe bitcoin would make them wealthy; they do not realize they will encounter numerous hurdles before reaching their objectives.

The major issue is the way the whole rain of positivity is spread about how people can make lots of profits in a split of a second and this trend has made so many naive newbie venture into Bitcoin without properly knowing the real truth that's behind the concept of making it through Bitcoin. It's true that one can make lots of profits through Bitcoin but all this doesn't happen overnight as it's needs proper planning and understanding before one can make it.

If you are Bitcoin whale, Bitcoin can make you rich. The obvious truth is that the more Bitcoin you get the richer you become. Getting rich through Bitcoin is not an overnight achievement. Newbies who invest in Bitcoin have a skill that is worthy of multiplying your bitcoins like - bitcoin trading, Bitcoin lending, gambling with Bitcoin, and others. I highly recommend that you already have some level of expertise in these areas before you make think about going into it.

In general, investment is all about Risk because you might gain or lose in order to make up your mind by putting what you got into it patience is needed. well as a beginner you have to go through a lot about Bitcoin learn much about it as more as you can. And I do believe Bitcoin can make one rich since it has and still on more people are making millions in it. To be sincere it's not a fast money making as you think.

Bitcoin investment is not a get Rich quick scheme, and I think people always have that mindset of becoming super rich if they invest on bitcoin. And I think the cause of that is misinformation.
I think if information about a business plan is been introduced,  there is need for proper research before venturing into it.

Success is not achieved on a platter of gold. There is a tendency to work smart to aquire success. The problem most newbies face, is by expecting quick gain from investment, becoause they feel like people who are bitcoin investors are super rich. And probably anybody who adventure into Bitcoin will be as rich as the old investors no mater the time of entry. Why some feel that they have been so patient and looking for way to succeed in life. And any slighted opportunity they get to imvest, they feel the need to also make quick money. not knowing that it took the old investors time, consistency, resilience, hardwork and other factors before they could achieve what they achieved. So what they need to understand is as follows:
1) time factor and understanding the scope of any investment plan given to them. Before adventuring.
2) don't invest with emotion or mindset of to get Rich quick with bitcoin investment.
3) be self decisive and self moderated by encourage yourself on long time holding because it's the only way to achieve bitcoin success.
4) don't be too quick to conclude about fast success on bitcoin.

They are not wrong with their thinking. There is a saying they seeing is believing. I have seen Bitcoin transformed the financial life of people who invested in it and had patience. The only thing you should be advising the newbies is that patience is really required when investing Bitcoin. As for making them rich that one is guaranteed provided they can hodl for a long time. Someone who bought Bitcoin when the price was $15k earlier this year and had patience till now is already rich in Naija.

@Y3shot
What I see about people around me is that they think they can invest in bitcoin to either make profit from it or lose. Because of the loss, some people do not want to invest at all but later not happy if the price of bitcoin has gone up.

Beginners believe bitcoin can make them reach because the price has always been going up in long term. As the marketcap is increasing, the price may not increase as it was before, but the price is still going higher in long term. It is not a wrong believe if they can research and learn when to invest and when not to invest.

If someone still invest in bitcoin in time like this, it is good because next year is halving and we are expected all-time-high.

Beginners have seen so many people who have invested in Bitcoin becoming rich and they have also seen testimonies on social media platforms where people quit their jobs because of the profit they made from their Bitcoin investment. Bitcoin can make anyone rich if you understand that it is not a get-rich-quick scheme, and requires patience for profit to follow in.
Op, after investing in Bitcoin you don't need any work to be done on your Bitcoin investment. What you just need to do is to hold your Bitcoin for a long term like 4-10 years depending on your plan in your Bitcoin investment. What you need most is to have a source of income that will solve your financial challenges so that you will not have to depend on selling your Bitcoin even when you are at a loss to solve your problems.

Na why em be sae any newbie wey you wan introduce for bitcoin investment or the one wey don invest on am already, you need to tell them the risk wey d involve and how volatile the market dey so that them no go carry hope put for bitcoin to make them rich in a short time.

I think the cause of everything na because newbies are not informed about how bitcoin  investment d properly. Na why em be sae them they carry a wrong belief about bitcoin investment to make them rich quick.

To minimize this wrong beliefs wey newbies get for bitcoin, em go d good if we can take as a duty to the lecture newbie about what and what they shouldn't expect from their bitcoin investment. By doing that alone, I think it will go a long way for them to be less bothered when bitcoin price is declining in price or not going by their plans to make them rich in short time.