Bitcoin Forum

The issue of getting rich quick isn't something that many adopters take seriously, as they've come to believe it is the only way to make a quick profit. It still saddens me to see that some adopters in our community have taken the wrong step towards Bitcoin investment.

I recently stumbled upon a guy few days back who happens to be a anti-bitcoinist. He showed his frustration and condemned Bitcoin in a way that got my attention. I was eager to know why someone would have hatred for a life changing opportunity like Bitcoin, so I had to ask.

From his reply, he said he came across a Bitcoin mining website that was shared via a YouTube video. The mining site mines Bitcoin in small quantities, which he decided to buy some mining power to accumulate faster. He successfully purchased one of the mining power worth $80, but the site eventually shut down a week later without allowing any withdrawals.

His reply got me laughing because I quickly pointed out two things from what he said:
1. He was eager to get quick profit from an $80 investment but ended up getting scammed.
2. During my early days in crypto, I often came across these demo-like websites and have also fallen victim.

It was very clear to me that some ethusiast who promote Bitcoin don't talk about the risk part of it, while those who adopt Bitcoin on their own don't learn about the risk part of it.

I couldn't just leave him hanging with that mentality towards Bitcoin. I showed him some love by converting $10 worth of Bitcoin from my personal funds, sending it to him, and also sent him the BTT link so he can learn from a large Bitcoin community. I have done my part, and I repeat: there is no such thing as getting rich quick. I am glad he has joined the community, but wouldn't want to be mentioned.

Thanks for reading, and do well to share your opinion.

How can we be so sure that you are telling the truth and that this is not self made up story?

If someone is not careful of scammers, crypto scammer are easy to locate someone. When I was new to crypto, I saw many cloud mining services but users on this forum helped me to know that they are scammers.

In crypto, it is good to be careful and avoid scam.

Of course it is usually common to come across people who dislike crypto. overtime, I have come to notice that most people who dislike crypto are as a result of scam or hack related issues.
This is because many of these people may have tried making investments in the past and got either hacked or scammed especially because of their low understanding of the cryptocurrency concept at that time.
Many persons dive into making crypto investments without sitting back to take their time to understand the risks and concept.

Alot of crypto haters have their hate coming as a result of their losses from especially altcoins. Which possibly dipped after they tried to invest.

And finally op, sending a Bitcoin hater BTC doesn't change anything.from the image you provided, you sent the person USDT which is an altcoin. So you actually didn't promote Bitcoin here but rather altcoin.

Depends on the enthusiasts or people who shares knowledge about it (how will they deliver the message) and also audiences (ones who will receive). Most of the time, once non-crypto investors heard about profit, they will have high hopes instantly without considering the risks involved. On the other hand, enthusiasts are sometimes biased of the information they are sharing probably because they have another motive with their action on why did they share it in the first place.Some sort of misunderstanding results to negative experience and eventually bad impression towards this industry. What's unfortunate is generalization. On the mentioned story, a guy was scammed by a Bitcoin mining website however he puts the blame to this industry in general. This is the risk of sharing; if you are aiming for a better future for this industry then it just makes sense to do so, however we should at least choose the people whom we will share things with. Be sure to know them whether they would be able to handle the risk present from this investment or not. Assess for yourself already and avoid too optimistic approach that will catch most of their attention. In reality, we all know it is not always a sunny day on our crypto investments.

First, to sum everything up, I will say you made a mistake with the guy you met. You made a mistake by not educating him; there is nothing like bitcoin minning online anywhere. Those sites that advertise things like that are just scammers who want to scam those who don't know their left and right in crypto.
 
You should have educated him more than just given him a few dollars, and how sure are you that he is not going to fall into the wrong hands again and that he will end up giving the $10 to another scammer?
 
Given his vital information and how to avoid all of this, it is more important than the money you think you gave to him to uplift his spirit back with bitcoin, and how many more people who have been scammed are you going to give little from your holdings?

Doing this is as if you are buying him back into the network. You should have shown him right away to go. I saw no single moral in this your story, that's if they are actually not just fiction.

You could be right about your assumption  and this could be as a result of the newbies aiming on profits alone and not inquiring to know also if there's a risk part too as there is a profit part. Without questioning the introducer might assume that you ought to know that there should be risk in any thing called investment be it digital (online) or physical form of investment. I hate to say this but truth be told many newbies that are just coming in now are taking it as a burden to learn all they mostly care about is profit making and that's why they easily fall for any investment returns scam that promises quick profits even when the return sounds too outrageous to believe they still fall in out of greed and ignorance.

It sounded like a cloud mining scam. How come you didn't tell him Bitcoin mining websites are scams?  Maybe try telling him there are tons of scams in crypto.
Upon sending $10 worth of BTC, you shoulder the withdrawal fee?

Well. People who are victims of a scam would be the most cautious person and will not easily be convinced anymore about the kind of investment. Although you may feel obligated to tell them to invest once again, he may just be safer to be investing in Gold.

Yeah, those kinds of experiences are just exactly the things that made most people have misconceptions about Bitcoin. In my country, if you ask some people who have not invested in Bitcoin the reason for their decision, they will come up with different stories that actually made them decide not to invest in Bitcoin. In some cases, it was actually the fault of some of them because they took the wrong steps while just starting their crypto journey.

As a matter of fact, that's not just the case here; some people fall victim to some shitcoin projects, and they totally made a decision not to interact with crypto ever again, so even if you try to talk to them as Bitcoin, they believe it's just the same thing as the altcoin that scammed them.

Some people feel that Bitcoin is used by scammers, probably because some scammers on the internet have asked them to invest in Bitcoin with the promise of a heavy reward.

Every crypto enthusiast, mostly newbies, should be very mindful of how they invest their money in the space. Every piece of information they get should be verified first before going ahead with it.

I believe he is a layman to bitcoin and then sees news or youtube videos about fast bitcoin profits which may be advised by fraudsters to enter cloud mining and then deposit some money so that he can buy a high cloud so that the speed of cloud minning is faster.

Maybe this person doesn't ask people who understand first so they just jump in and end up frustrated because $80 is lost in a week.
Many people who are trapped in early mining are usually ordinary users who want to make quick profits without trading or investing.

Greed makes a lot of people lose money, it has always been like this and always will be...

There are no miracles, the only thing that makes you money is studying and knowing exactly what you are doing, everything beyond that is just lottery and casino, it may work or not, but most of the time the casino owner wins.

They know what they are doing, isn't obvious people hear how Bitcoin has turned up for some people for years but want to do the same thing in just a month, they get the orientation needed, I just think they wana think they are the smartest and want to makes stupid step that always bite them because of greed, nothing kills faster like greed and new people that come to crypto are always guilty of this mistake; not like the regular people you met doing it don't know what they are doing.


For some second, I was looking at that transaction and I only saw 10, I didn't see any currency and I thought you were generous enough to send him 10 Bitcoin  :D :D. Well, that's nice of you but with the way he is down, doubt if he is going to keep that money in Bitcoin, he may convert that $10 to fiat and move on and might not come back to check bitcoin again. I have some of them that has disturbed me to teach them Bitcoin, give them all the details they need, some are doing well now but there are these set of people that always fall out matrix to do something silly, well they fuck around and has found out from scammers and never came back again.

@OP can you show that you sent $10 to that person because I see your topic is like a made up story lol


Getting rich quickly is the thought of every new person who invests in Bitcoin, but will it make their goals come true? In fact, many people end up bankrupt and deceived because of their great desire to get rich quickly.

I've never seen an online cloud mining site that will give you the majority of profits but it will only end up being a scam, for newbies try to avoid bitcoin cloud miners, they are all tricks but the best way to earn bitcoin is by trading, investing or working for bitcoin.

The people who talk all the benefits and possibilities of bitcoins and does not talk about the risk is overhyping Bitcoin and making some people possibly think of it as a scam. It also creates investors in bitcoins who are not emotionally ready for the market when it gets bearish. When you tell a new ear about the risk, you are not just educating them, but preparing them to become strong hodlers that have a strong emotional resistance against bearish market situations.

Many people think bitcoin investment is a get-rich-quick scheme; they don’t observe well before joining the market. These are the people who fail to abide by the risk involved in bitcoin investment, and at the same time, they lose their hard-earned money that they have already invested because they failed to wait for the right time to sell their investment. But I don’t blame some of these people; sometimes I think it is because they lack knowledge of how it works, and that is why they act that way.

However, bitcoin is not a way of getting quick profit as it’s required a very long time of waiting before you can get your money back with profit, not even a year. Therefore, as you have stated, it’s not true that bitcoin is not a quick way to get profit at all; rather, if a user can be able to take a long-term risk and invest in bitcoin, he will definitely get profit, no doubt about that. However, you can’t blame someone for how he views bitcoin. I think that is because he or she doesn’t know how useful it will be for the community or himself in the future, so if you see someone talk about bitcoin that you don’t like, you educate them or forget about it if you feel they won’t believe what you want to say.


Many people start hating bitcoin due to their past experience in crypto, and most of these people get scammed with altcoin, not even bitcoin, but since they feel it’s crypto, they take it the same way and think it will happen to them even if they accept bitcoin, and that’s why you see someone complaining or condemning bitcoin. So you can convince or advise this type of individual to go back to crypto again unless you educate them on what to do and secure their investment after accepting it.


Yeah. Most of them are all these online influencers, and they are paid for it, so they won’t mention the risks involved in the investment; they only say the positive effects of bitcoin so that they can convince people to invest in it. I think it is true that they also don't have the full knowledge of what they are promoting.


;D ;D
I don’t believe this, bring up something meaningful so that we can merit you.  not this way man.

bitcoin is a currency.
however with all currencies you will find scams offering get rich quick schemes separate from the base currencies economic model of wealth building

It's not an unusual situation, since many newbies have already fallen for similar scams. Fake crypto mining websites are really common, and they look legit for newbies, because they think profit can be made instantly through Bitcoin. They think crypto universe is a secret land of opportunities only few people have access, so offers from scammers look possible to be true on their eyes.

I have already been on that role many years ago. The problem with your friend is that instead of blaming the scam website solely, he blamed Bitcoin as well, as if Bitcoin was guilty for something. It's like blaming fiat currency in a bank robbery situation. It makes no sense...

Of course your friend must be angry for having lost 80$ bucks, but to become a Bitcoin hater won't help in anyway. Since you gave him 10$ as freebies or consolation prize for his loss, you could also suggest him to not deposit it at third party platforms anymore. Instead, deposit this money in a self-owned hardware wallet he has total control over the keys.

What do you expect? he is anti-bitcoin and obviously he will attack it no matter how you explain that bitcoin is this and that.


He is not the only one who fall for that kind of trick, but I do believed that those individuals learned their lessons in a very expensive way and still do continue to invest/trade BTC up to this day. I too during my early days fall for a bitcoin doubler scheme.


There goes a saying that sometimes, it's better to experience it first in the beginning, so that you will learn and adapt and have a good mentality towards Bitcoin and not think of it as a get rich scheme.


Well, do you part already, there's nothing more you can do. If the person doesn't want to change his views on Bitcoin, then so be it. It's their lose anyways, maybe when almost everyone is into Bitcoin, he might realized that he should have change his stance earlier.

From the beginning many people have different perspective of Bitcoin and under people too who know about Bitcoin also have another perspective, why we invest in Bitcoin is because of profit and the everyone who intend to invest in Bitcoin what it has in mind is to make profit on the process of investing in Bitcoin so you saying that their mindset is wrong I stand to condemn the fact that every average investor what is the has in mind to invest in Bitcoin is to make a profit and also show other people who castigate Bitcoin to see the the profit it has made in Bitcoin

Well, how generous of you to give him $10 at his downfall moment if what you tell us OP is true and not a made-up tale. But for me, it is crucial to approach bitcoin or any investment with a realistic mindset. You could have simply informed him that bitcoin mining is a fraud and offered to help him learn more. After all, the reason some people fall for bitcoin scams is most likely that they were approached by online con artists who lured them in with the promise of huge profits.
Furthermore, it can help us control our expectations if we see bitcoin as a long-term investment rather than a means of becoming wealthy quickly. That is because markets can be unpredictable, and short-term gains might not be sustainable.

Indeed. Some new people think that Bitcoin investment is easy and they can be rich instantly. They don't understand that it should take time to take profits in Bitcoin investment, they can't take the profits just in few days or weeks. People who have no knowledge, sometimes become panic when they see the dump in Bitcoin price. In this situation, the new people can sell their Bitcoin in panic, then the investment just make them bankrupt.

What do you mean with "majority of profits"?
Sure, there is no mining site that gives too high profits, it should be reasonable. If the site offers a too sweet potential profits, we can assume it is a scam site. It is better to avoid it and prefer trading as your suggestion. However, it requires good knowledge to trade, so people must learn trading and he market nature firstly.

99.99% of cloud mining are scams. If there's a legitimate one, you'll barely able to purchase hash power on them as most of the time they're rented and unavailable. If this indeed a true story, I hope that this guy, a friend of yours or not? will definitely learn the lesson that there's no such as rich quick scheme. Because when someone sees that opportunity, you'll have to take time and find out the red flags from it. If money is just growing on the trees, all of us are going to be rich if this is the case for all of these cloud mining. I don't mind if he's an anti-bitcoin, I've seen a lot of people just like him because of the bad experience that they've gone through and it is understandable. I wouldn't force him to like Bitcoin but I just wish that he learns the valuable lesson about investing and DYORing first.

That's a good samaritan.

And also, share this link with him.
https://bitcoin.org/en/

When I was new in crypto, I was also a victim of a mining scam website in which I invested.
But, that costly mistake taught me how to avoid not repeat in the future.

This act you did will make him become more curious about Bitcoin, and for sure he will be amazed and thankful. After that, for sure he will learn a lesson from his mistakes like falling in scams, and some mis understanding of Bitcoin.
By also doing this, you are promoting Bitcoin and helping new people to fully understand how Bitcoin really works.

Exactly! Maybe the OP also doesn't know that the website mining is a scam. I don't know; I don't want to judge, but it looks like the OP led his friend to the website to see if it was legitimate or not, more like a sacrifice. But yeah, I didn't mean to judge, but I can't help but think of it.
Anyway, given these days, cloud mining is not profitable, and if it is, most of them are scams, baiting you to deposit a certain amount so that you could withdraw the crypto currencies that you have mined. Only newbies and desperate people to have money will believe in this scheme, and what scammers are taking advantage of is the desperateness of a person to earn and their lack of caution.Now a days, this kind of wesbite is scattered everywhere on the internet, and we should not easily believe in them, especially airdrops. Some may be legit, but there are also lots of scam airdrops, so better be careful what you are doing in crypto.

It is true that it is not possible to get rich quick by investing in Bitcoin, but it is never worth accepting that investing in Bitcoin will lead to your investment scam. Bitcoin investment is likely to be a scam if someone promises to get rich quick with a short-term investment in Bitcoin, and investing on the spur of the moment can lead to you falling into an investment scam. There are many nefarious people in crypto who lure investors with promises of huge profits. Be careful not to focus on all those floodgates to avoid bitcoin investment scams. And one should never think of getting rich quick by investing in bitcoins. Because Bitcoin investing is not a get-rich-quick thing. You should always opt for long-term investments to protect your investment funds and make yourself self-sufficient.

Those who invest in Bitcoin mining sites with the intention of making extra profits face losses very quickly. Because they forget where it is right to invest, because their main objective is to make profit by working their willpower. It incurs losses but you have given him proper education using proper methods. Investing in Bitcoin has very less chance of loss, because Bitcoin is the greatest coin of all time. Thousands of people have achieved success using this Bitcoin and their future is bright.

If you want to invest in bitcoin, you need to invest in bitcoin for a long period of time, then you can make a profit. It is very difficult to make a profit by investing in bitcoin for a short period of time. I think that when the bitcoin market is dumping, we should invest in bitcoin.  When bitcoin market will be good then if we sell bitcoin then good amount of profit will be made.

I always say this: being fascinated by Bitcoin and rushing to use it without proper knowledge will always lead to disaster. Now here and there we hear that investing in Bitcoin is very profitable, but no one is in a hurry to learn that for you to get the benefits, you need time, patience, and also the ability to own them. Some leave their purchased Bitcoins on exchanges, some forget where they store their seed phrase, thinking that they can easily restore it, and others look with horror at the minuses that appear in their wallets during volatility.
I would prefer to always start with stories of a not entirely beautiful nature, for which a person should be prepared, and then tell him what magical mountains await him in the future.

OP's story is quite rambling, so what is the correct point of view here?

I can feel that this is a fairly common story but not all, and it is entirely possible to write a different script for the story about the case the OP is talking about. But people make mistakes to learn to succeed, maybe you know more than others but that doesn't mean you know everything, and there's nothing funny about the story if it's true. If you gave that person $10 and headed to the forum to learn, that's also positive, and again, it's better to give that person more encouragement to overcome challenges.

Truly, Bitcoin has helped and blessed a whole lot of people and it is still doing it, but a whole lot is happening around it these days as well. Many are now using it to dupe people, while it is a mere failed business/project by some other people, it wasn't intentional to swindle people. Also, Bitcoin has passed that stage where people will use a very small amount to gain an insane amount of return, except if you are such that is good with trading skills, you can make an insane amount from it and some are just so surprising. If not, you have to continue to invest according to the current wave of the coin, you can't force any, and you have to limit it in your mindset how much you can make from Bitcoin so that it will not disappoint you.

If Bitcoin can bless anyone x2 of their investment this time, the person should be very happy with it as things can't be like before anymore as the price of the coin continues to appreciate in value. But still, people will not cease to amaze me, I blame the person who ventured into what he didn't really understand or believe that it is a certain means of making money. Risk is in every investment/business, and if it does not work this time, that doesn't mean you entirely dislike the thing, especially Bitcoin which itself is not a scam, let's be reasonable.

Such guys, disappointed in their wrong actions, begin to blame bitcoin because of their inability to wisely use this financial instrument.

The fact that this guy encountered scam mining doesn't make bitcoin bad. In fact, your guy had virtually no interaction with (ownership of) the bitcoin to be disappointed in this.

Everything related to getting rich quick is 100% a scam.

You need to get acquainted with bitcoin not through dubious sites that promise instant and multiple profits, but directly, from the first purchase and transaction, to your crypto wallet.

The story you described is not the risks associated with bitcoin, but the risks that arise when interacting with scammers. Don't confuse this. Are you sure you can outwit the scammers?

This is a big gesture on your part. Are you ready to repeat the same thing with every user who is disappointed in bitcoin? :)

He is yet another one of the people, who got scammed by crypto scammers, and they started thinking that Bitcoin is a scam.
If someone steals your fiat money, would you ever start thinking that fiat money are a scam? I don't understand this mentality.
Cloud mining scams were a thing in the past. I'm surprised that people are still falling victims of such a stupid scam.
The "Nigerian prince" scam still exists. Unfortunately, there will always be stupid people around the world, who get scammed by stupid scam methods.

Because of the stories they hear, people who are ignorant of bitcoin always perceive it as a get rich quick investment. They believe there is no risk involved and that it will simply generate profit and make them wealthy quickly, without having to worry about learning and understanding its concept. They go right in without knowing anything about it, then when they lose money, they start complaining and accusing bitcoin of causing their losses rather than taking responsibility for their own actions for not learning first. Uninformed Bitcoin investments rarely work out well, and they run the risk of being scammed later on.

Nowadays, there are hardly any legitimate mining websites, especially not for bitcoin. Of the ones that exist, over 99% are scams that are created by scammers to trick you into thinking they are real. Investing on these websites is highly unsafe because the scammers will eventually leave you with nothing. Such platforms are only seen as investments and opportunities to generate money by those who are eager to make money.

Experience can lead to bad thoughts regarding Bitcoin, but I'm sure that the only people who constantly raise negative opinions and believe Bitcoin to be a scam are those who don't know anything about it. Those that criticise bitcoin bother me less because I think ignorance is the basis for the critics and that after being scammed by someone who took advantage of their ignorance, they want to blame bitcoin for it.


It's vital to carefully research what you're getting into before making any investments because this is the kind of situation that ignorance and haste will land you in. Nowadays, we have easy access to free education so before making any financial investments on any platform, we can make use of the internet or ask educated individuals around us questions about whatever we don't know.

You did a good thing by showing him a way out of his ignorant position, i just hope he is ready to learn about bitcoin and adopt it or else leading him here would just be a total waste of your time.

Man, so much of the stuff on this forum is a wrong perspective.

I find it very hard to say that in life there are wrong perspectives, to me there is no wrong way to do Bitcoin in general. As long as you actually find it useful to yourself, for whatever reason, it's right.

But investment wise, we're risking money. Some people risking wealth, even risking health (which is what so many 'traders' do). And it starts because of so much information online that Google shows you, or this forum makes, that leads people into wrong perspectives.

Mining makes money. Miners are rich.
Trading makes money, traders are rich.
ICOs, shitcoins, NFTs. etc.

People forgot about utility.

This is what happens to people who thinks they are better off on their own with their crappy sense they called knowledge, he knew you are into crypto, but he don't want to get closer to you because of his believes, now he thought he is smart, he went for Bitcoin cloud mining.

There is no way a platform will successfully run a cloud mining this days, it's all a scam or Ponzi scheme, you can't take a short path if you want to mine Bitcoin, you need the real equipment, those who are purchasing Asic Miners are not stupid, those equipment exists for a purpose, if cloud mining really works no one will go after Asic miners.

I have come across series of people with the same mentality, all I end up doing is cutting them off completely, there are some things that has no short cut, you have to do the same thing that others are doing, it's not been smart at all, it's going to end in tears and disappointments.

We avoid talking about money and investing with our family until the person is able to make money and buy a car and a house and starts thinking about the future and how to invest his money. Here, it is true that the person is old and has experiences, but his financial mentality is still very beginner and is like the mentality of a seven-year-old child.
You will see that many doctors, lawyers and engineers believe scammers who tell them to get rich quick because they do not know anything about money and investing.

Its a stark reminder that Bitcoin comes with greed and fraud, despite its revolutionary potential. Many bright-eyed enthusiasts have been burned by such schemes, thinking they'll get rich quick.

You treated the despairing anti-bitcoinist well. By offering kindness and a referral to a credible community resource, you may have corrected a misperception and set someone back on a path of informed investing. Education is essential to Bitcoin acceptance. Understanding the market isn't enough - you must also recognize and manage risks.

Though, investing in Bitcoin - or anything - requires patience, knowledge, and skepticism of anything too good to be true. Our community must emphasize this. Sharing experiences like you did builds collective expertise that can help newcomers avoid errors and adopt more sustainable behaviors.

It's very unfortunate when people get scammed, so I'm sorry for the op's friend. But, in my opinion, it's not an issue that is specific to Bitcoin. There are plenty of scams, related to various crypto projects, fiat projects, other things like jewellery, etc. The problems are usually due to the lack of financial education, the lack of understanding of how scams work, what sort of strategies they usually employ, which feelings they exploit. Quick profits are the basis of many scams, not just those related to Bitcoin. So people should just be more mindful and careful in general, remembering that if something sounds too good to be true, it's probably a scam, and that there are no risk-free investments.

that is a big question mate because if OP is willing to extend that gesture then I may  PM him pretending to be Disappointed in Bitcoin so he might send mo 10 dollars as well  ;D ;D Joking aside .

Giving this amount is generosity but since that person accepted that bitcoin and now joined Bitcointalk.org? so he might use that money to gamble in gambling sites to try his luck  ;D

better that you have told him about this forum and he can find where to get His own bitcoin from this great forum.

Well getting into Bitcoin can be a wild ride, especially when some folks are all about quick cash. Your chat with your guy shows how he got burned by a dodgy mining site after throwing in 80 bucks. It happens, right? Kudos for tossing him some Bitcoin love and pointing him to the community. We all need a reality check about the risks in this crypto game. Your move helps keep things real and might save others from falling into the same traps :)

Buddy, There are alot of scammers who are waiting for your foolishness which means your foolish action can lead you to a clean wash out haha.. some days ago I stumble upon a thread where I learned about a dusk attack in which an unknown transaction held in your wallet when you will open the transaction to know about the details of the transaction your wallet will be compromised.

Some months ago There was a thread started by a newbie account that was offering 0.2 BTC for free i was confused about it so I thought to start a topic about it because it was a scam. here is the link to the thread: [Guide] Avoid These Kinds of Scams  (https://bitcointalk.org/index.php?topic=5474039.msg63156296#msg63156296) so always verify before taking any action. Many Thanks

He doesn't know and probably doesn't want to delve deeper before deciding to make an investment and is interested in the amount of profit he will get if he does so.
Basically, incidents like this happen a lot, even something like that happened in my neighborhood. This is because it is too easy to decide something without wanting to study it first after receiving explanations from other people, including from platforms like YouTube.

When someone explains about investing in Bitcoin and that person does not explain the risks that will be involved in it, it is likely that the person assumes that they already know the risks that will be involved in playing with crypto so explaining the advantages and benefits is the easiest thing to influence people's minds. who you want to invite.

Now that you have a story about how stupid he is who is too easily deceived with the wrong perspective, try to become someone who is able to educate other people who want to invest in Bitcoin.
Reminding other people to be more careful is very good and will not reduce your knowledge, it is actually beneficial for you personally.

The investor's first investment experience with Bitcoin happens to be on the wrong hand and needs more of conviction to change his mindset towards Bitcoin. Little or no research and being too desperate to make money in crypto are one of the main reasons why most people or newbie investors get scammed in the industry such as this person. At times, those that brought in these people did not provide them proper information on how to navigate their way safely without falling into the traps of scammers.

Yeah that’s right, a lot of people fail to understand that they’re basic knowledge to have before even considering venturing into bitcoin. Like I keep saying and many people have too, you can’t invest what you have no idea about what you’re doing. Basic idea is very much necessary to get if you want to attain success in anything, people will have to do thier research before entering into the market. In short, the amount of research needed before investing will depend on the individual's level of comfort and experience. But generally, taking the time to do your research will increase your chances of making informed investment decisions and potentially earning a positive return on your investment.
 Have enough time to understand what you are investing on, so that you can back up what ever questions being asked about such investment. If you find out that an investment is too difficult, leave it alone. There are many investment choices,  find something you can wrap your head around. Overall, research plays a critical role in the investment process by providing investors with the information they need to make informed decisions and manage risk effectively. Without research, investors may be more likely to make hasty or ill-informed investment decisions, which can result in significant losses.

This story isn't new and I'm not surprised we still have victims falling for this type of scam. Their targets has to be newbie as those are the set of people that'll fall for this type of scam. The old members should already know about that there's nothing real with cloud mining because they're all scams or operating a big ponzi schemes that uses the money of new members to pay the old members and the cycle repeat in the same manner until the scam get exposed. Mining Bitcoin is now costly that $80 can't give you anything reasonable so why would someone buy $80 worth of mining power and expect to get profits if what he's engaged in isn't ponzi schemes. Your friend was a newbie and that's why he got scammed and this is a lesson for others to avoid quick money schemes.


Well this doesn't deserved to be announced, when you do good you don't have to blow your own horn. If the praises was coming from the affected users that'll be more reasonable but coming from you, it just seems like a cheap hurt for merit and to blow your own horn. Your thread mightn't have represented any of this things I have said but that's how it looks like. Next time when you do good keep quiet, this part of the thread wasn't necessary. Simply warning people about cloud mining scams would had been great without having to add this part and the large image.

That's the dilemma of most newcomers, they thought that it is too easy to gain profits but there"s more than meets the eyes in this market.
People should educate themselves and not rely on someone else's opinions. Because that is detrimental to your funds.
They don't care about what you do with your money, so it is your own responsibility to take care of your assets.

Bitcoin mining sites… where do these guys get these ideas of a mining site and all. Having to fund them for king and be hoping on profits for there invested funds. Oh that’s one means to get scammed. Bitcoin has been made in such a way that, you don’t need no one for anything. Yeah, I get the idea that there are cloud minings and some other pools that might exists within the system but, having to think or believe that you could just pool funds and mine online is false. You would be scammed on first trier. It’s a no.
Mining has gone way past that and miners rather pull forces together in resources to mine, earn block rewards and share amongst themselves.
Can’t say how profitable these have been in recent times with the reduction of block rewards.

Unfortunately, there are a lot of scammers in the crypto world. There's nothing you can do about it. Dangers await the cryptocurrency enthusiast at every turn. And a fake bitcoin mining site is not the worst thing. You can lose your bitcoins much faster. For example, having received a phishing wallet. We can get a fraudulent version of a Bitcoin wallet, upload our private key there and see after a while our Bitcoins fly to an unknown address. Or our destination address may be changed. A good solution was to make a multi-signature wallet, but even here it’s not that simple. Many multi-signature Bitcoin wallets, such as non-native Segwit addresses. Plus, multisignature requires paying a much larger commission.

Therefore, many people are in a hurry to gain wealth, but they forget the minimal knowledge they have, so this makes them fall into a reality that does not match their expectations. Therefore, it is better to study it carefully first before deciding to invest, especially as opportunities to get low prices will come often, so there is no need to rush.

I guess they want to imitate the magic of hodling in the early days of bitcoin and so they're enticed by malicious entities into investing in a somewhat legitimate looking scheme but when you take a step back, it's a too good to be true scheme that should've been avoided a long time ago but people are still holding on to the hope that in the scams that they've joined in, that they will find one that really doubles their money.

That's why it's your responsibility to be vigilant and always updated on the latest ways that scammers will try to steal your hard earned money be it in crypto or fiat and it's also our responsibility to spread those information so we're not just helping ourselves but also the people that are the same as us. And it's also important that we also have some sort of point of gathering where we pool the knowledge that we've gathered all throughout the world wide web like this forum, it helps because it can make people get some assurance that the information that they're getting is correct, accurate and not elusive.

most people who want to quickly make profits from bitcoin end up failing because they think that when they invest in bitcoin the profit is certain, even though on the contrary when they invest in bitcoin it means their potential to lose money is quite high.

also people who want to quickly make profits from bitcoin also have short-term and illogical thinking, where they invest in things like mining, staking, etc., which offer high profits in the short term, even though they are fraud. and in the end it was predictable that they were scammed by scammers because of their poor knowledge about investment and bitcoin.

Nah, I think they are being told at least about the basics like how to make transactions, where to buy and sell, where to store and stuff like these. Beyond that should always be the investors' responsibility since it is their own money that'll be on line.
These new investors, surely had at least made their own research on how they're going to put their money in bitcoin. However, the person whom the OP was talking about is just one of the many people who have made a wrong investment decisions. Well, maybe because of greed and because of the get rich real quick mind set.
Scammers are everywhere not only in crypto but generally in our lives. So, I guess securing our own safety is given and we ourselves are always gonna be responsible for that, not the person who brought him in.

Is there a guarantee that we are all safe in this crypto space? I don't understand how someone can easily avoid such attacks, even when we emphasize more on Bitcoin security.


The comment section of the post you shared was quite enlighten.

It's not really easy as a beginner to know who is legit and who is not, especially when everyone speaks good of Bitcoin.  The social media isn't helping matters too as it is common to see people flaunt BTC earnings everywhere and link their success to Bitcoin. It is very easy for anyone who is vulnerable to jump on any site or page that offers to make them successful like every other BTC Lord they see out there.

We all know that Bitcoin has the potential to make anyone rich but telling people only the good sides of Bitcoin wouldn't be helping matters. Every newbie should know that Bitcoin is highly volatile and most importantly, your account is prone to security attack. Just like there are scammers everywhere trying to steal from Fiat accounts, same applies to Bitcoin. When talking about Bitcoin,  security education should be made a priority.

Because it is true if it works. I don't see anything wrong in this belief. but the thing is not everyone can become rich like that. except some lucky people. this method won't work for rest.


It is sad to know what happened with your friend. but he shouldn't blame Bitcoin for what he did. It was his stupidity to fall for an obvious scam like that. if he could've done little bit reserach about those cloud mining websites he would've find out immediately that it was a scam. but he was a newbie and naive so we give advantage of that.
I am glad that you helped him with little bit money and encouraged him to use bitcoin. I hope his trust will be restored and he'll start using bitcoin sensibly this time.

Promoting Bitcoin by raising curiosity. Nice statement. Coincidentally, I noticed a similar point in one of my posts. Helping others in the best way I can, just by advising them on things to avoid, won't cost me anything. So why hold on to sensitive information? Certainly, he has realized his mistakes and has been able to correct his wrong perspective.

Yes. For these conditions they occur.


But, I think if we want to be successful, we can solve them one by one. If the focus is on long-term BTC investment, it's best to do it optimally, don't do it half-heartedly and don't be easily tempted to sell your BTC by following programs that waste and disrupt the initial plans of what we had previously intended if we are busy yourself as you mentioned above.

Not all the fault lies on the people that fall for this scams, sure they're greedy and they don't know better but the problem is that there's some people out there that don't want to play fair and try to cheat people out of their money but they're not a big problem if we create a really good solution about them which is information and knowledge, having knowledge about things and the wisdom to know that something is fishy or suspicious is always going to solve the problem of the scammers. Regarding the people that see bitcoin as a quick money scheme, you're wrong and anyone who sells you something that tells you will double or triple your investment with bitcoin at a short amount of time is definitely lying and wants your money.

In the new situation everyone starts investing thinking that it is very easy to make profit. After few days when they see that their money is slowly disappearing by investing in wrong place then they get very depressed. I think from someone to invest.  We should stay away from investing without consulting and understanding. We should try to keep our own money carefully so that we can stay away from many problems.

When beginners hear about bitcoin or cryptocurrency all their mind is to just make money quick, having the mindset of making money quick from bitcoin have always been the cause why they end up becoming victim to scammers.  Beginners meed to learn about bitcoin first to understand that bitcoin is not all about to make money to become rich quick. Money can be made investing bitcoin as a longtime investment. The mindset of becoming rich in bitcoin has led so many beginners go into wrong ways.

Whenever you seek quick-rich methods, most likely you will be a loser. There are no so-called mining sites; they are all scams. They trap us by offering quick money. We have to think there is no money-making machine to make us rich over the night. Forget about quick-rich scam sites; even Bitcoin investments won't make us rich quickly. If we expect that, then likely we can't gain from here. We have to understand what Bitcoin is and how it works. But definitely, we have to ignore all kinds of quick-rich methods and offers that we see on the internet.

Not everyone who tries to come in contact with btc is referred to as an enthusiast, if he were one, he would first seek for information about btc, understand the tech and utility.
Most of this get rich quick btc investors comes into the space as a result of what they see and hear from some of the so-called crypto influners on social media who are always showing off their gains and profits from trades and airdrops.
They sell such false ideas to gullible investors to think they can equally make such money within the shortest possible time. It is very sad that majority of investors think this way.

That will happen to someone who never knows and clearly understands what they are doing. This will happen to someone who is rushing their entry and gives no time to review or cross-check whether the site is legit or not. We never get scammed if we are too careful and it never happens to us if we have knowledge. Unfortunately, many of us easily got fooled by these scammers because of greediness.

In any investment platform, it is somewhat important not to trust easily and so we did site checking for verification. Bitcoin investment is not a Ponzi Scheme that offers quick returns which is why if someone offers that, that is a big lie and scam.

Regardless of whether the story is true or just made up in this case we certainly know one important thing that can be used as a pretty good lesson where we will definitely be surrounded by ordinary people who are still very difficult to find out what bitcoin is.

I wouldn't say he is anti bitcoin because if he was anti bitcoin then he wouldn't try mining bitcoint even though the site is fake and there is no way he has a bitcoin address when you want to transfer a little of your goodness.

He is a layman but not really knowing how bitcoin works so he is on a slightly wrong path that makes his mindset different about the view of bitcoin because of the disappointment he got before.

The third Paragraph is just about what I was thinking. I knew that he must have had a bad experience or knows someone who did, for him to project such hatred. It is so unfortunate for Bitcoin how people scam people with the Bitcoin story telling them that if they invest the money will increase and make them millionaires, but then scam them and these people think everything about Bitcoin is just a scam. Hopefully we can continue spreading the awareness of poor Bitcoin.

Having bad decision or for rushing everything just to get a bitcoin because they think its always good investment for them and they can get instant profit from it this a product of wrong information posted or told by those people trying to hype bitcoin to people they know. That's why we see people commit some mistake because they are not been warned about other possibilities like to lose their money if they are not careful enough and do some technical things to have good critical thinking regarding on investment schemes they want to try or even on trading.

To many investment platform popping up there since they always think there are newbies will grab the offers they present that's why its very important for newbie to learn something from those schemes and they should not let theirselves feel attracted to the offers they see since usually those people who offer them a lot of money for short of period of time especially without doing anything is most likely a scam.

It cannot be denied that currently there are still many Bitcoin investors (beginners) who have an inaccurate perspective. Most likely all of this is because these investors do not have sufficient knowledge about the ins and outs of bitcoin investment. As a result, people like that will definitely think that Bitcoin is an asset that can make them rich quickly and has no risks. In reality, Bitcoin cannot make investors rich within a month or two. But it takes years to get it. Apart from that, if anyone thinks that Bitcoin has no risks, that is wrong. Because after all Bitcoin still has risks. So this is where it is important to learn first before starting something like investing in bitcoin. Because if you don't start with sufficient knowledge, you are afraid it will hinder the investment process and could also result in losses.

Seeking knowledge and learning about bitcoin must also have very good filtering of the information we are looking for. Because sometimes there are many fraudsters who have many strategies and one of them is a strategy that is sweet at the beginning and bitter at the end. So in essence, when looking for information related to Bitcoin, don't be easily tempted by practical things. However, look for information and knowledge related to basic science. And don't be immediately tempted by results/profits.

The steps you took are very generous, my friend. Indirectly, I can read that you feel sorry for that person, but at the same time you also maintain Bitcoin's good image. Because if you give bitcoin to that person, at least he will have a positive view of bitcoin. And by telling the person how to expand his bitcoin knowledge by joining these BTT forums, it is indeed a better move than YouTube or other platforms.

In my opinion, Bitcoin should not be considered as a means of earning money....
Bitcoin is simply quality money. Since Bitcoin is money that is better than fiat money, Bitcoin increases in value over time. This is a nice bonus for a Bitcoin owner. In the future, it is possible that Bitcoin will become a global reserve asset and an integral part of the gold and foreign exchange reserves of central banks, and in connection with this, its price will increase even more.
However, in my opinion, it does not make sense to consider Bitcoin solely as a speculative asset.

Hmm, I thought I was the only one that actually tried this online mining apps although it was due to the lack of knowledge that I was very vivacious when it comes to mining on these apps and just like you, it wasn't long before all that thought was cleared from my head when seniors here explained and brought insight to me about this stuffs although most of the knowledge i read it from other people's thread as I engaged and enjoy reading discussion about this stuffs.

Being a newbie exposes you to many crypto scams so carefulness and your dedication to learn more is the only thing that can actually guide you out the claws of these crypto scammers .

People like him often get victimized by such scam services and websites and then start abusing the industry or Bitcoin for being bad or a scam, etc. To be honest, I don't blame them for getting scammed because they don't have enough knowledge but then we can blame them for not trying to gain enough knowledge before getting into investments. I don't understand how a person can invest their hard-earned money somewhere without doing proper research and finding out whether the service is genuine.

When I first learned about Bitcoin and cryptocurrencies, there were a lot of scams and HYIP websites around the industry, and since it was new, a lot of people used to become victims of them, most of them used to be Bitcoin doublers, etc. So, it's all about knowledge and experience, when you join a financial market without experience, you should at least try to gain enough knowledge to survive.

only beginners have the idea of getting rich quickly, they are not precise in the concept of investment. all require methods that are not easy to do. Indeed, in the crypto world, what is impossible can happen because many things happen. Don't expect to get rich quickly investing in crypto, but start with the wrong lessons and become introspective so that they don't happen again

Your story tells alot about people who go against bitcoin and other crypto, no one will just wake up one morning and start hating cryptocurrency except they've experienced something dramatic and bad. Your friend failed to make some research and sometimes when I hear offers like this I will be like this offer is too good to be real, there's no such thing like getting rich quick with some random site we see online, not only bitcoin investment but it has to do with every investment.
Probably your friend think he can just earn something huge using online site, very funny. A lot of people have experienced such but I will not blame them cause they lack the knowledge about bitcoin and the moment people like this get enlighten about bitcoin and scammers they'll no longer be a victim to such, don't just teach anyone about bitcoin without telling them the risk involve or rather bring them to where they can acquire bitcoin knowledge if they're willing.

People who expect a 100-dollar investment to make them rich have no idea what is investment and they can't blame Bitcoin for their own mistake which is due to their greed of their own led to fall for such a scam method. This is very common among the people and their view is that they blame fiat money because they lost their fiat because someone robbed their wallet.

Anyone who thinks sensible can understand who is to blame in this.

It's true what you say, every beginner certainly thinks that by investing in Bitcoin they will be able to have wealth easily from the results of the investment they make and also they don't do any research about Bitcoin and only look at those who have gotten results from investments made by other people. without seeing how the person goes through the process they do.
When investing, of course we cannot expect to easily gain wealth from the investments we make, of course we have to go through various processes to achieve this and we have to really learn well about investment to be able to get a profit from the investments we make.

Some newbies that are entering the crypto space are not properly introduced, some of them are brainwashed and have the wrong knowledge about bitcoin. Some people think that if you join crypto investment, you will be making instant profits without any risk. If you notice the way signal providers always introduce bitcoin to people, they will give you confidence that you can never lose money if you join cryptocurrency. I think some people are misguided, and that’s why.

When you see videos on YouTube, you shouldn’t trust them. Most videos are posted just because they need subscribers or viewers, and scammers are always taking advantage of this to promote their scam websites. Seriously, you won’t blame the person for being against bitcoin, they got introduced to it in the wrong way, and I am sure if anyone is introduced to something and the person is scammed, they will lose interest. Scammers are one of the reasons some people are still against bitcoin.

You are right, some people just talk about the positive aspects of bitcoin to motivate people to invest in it, and they won’t tell them the facts that they are supposed to know about bitcoin. If you are introducing anyone to bitcoin, tell them the necessary things they should know,  if they are interested, then they can invest, and if they are not interested, they can just forget about it.

because seeing friends who live in the crypto world looks like it's easy to make money. which makes beginners with big ambitions able to imitate their friends. The hope of beginners is that they need time quickly, but on the contrary, it is very difficult to go through the process of being able to adapt to the environment and understand the conditions. Many people go through a process that takes years to have their lives changed because of the effects of crypto

Those people believe that they can easily get rich by investing on bitcoin or any platform using bitcoin as their tool to attract users will actually encounter such huge lose since they might expect a lot from this without knowing the risk that they are stepping on. Then usually once they fail on their expectation they start to curse bitcoin and call it as scam without knowing for theirselves that they are the one who commit such mistake and those losses encounter is the result of their greed.

Sometimes newbie is denial for their own mistakes made that's why its really good or best for them to know first what they are trying to participate so that they would know the risk and what they should expect on their  possible investment made there.

No one should invest on anything if they don't understand it, and newbies means they are just stepping in so even if they invest on Bitcoin they can't expect it to become million dollar profits, and keep learning about the investment makes them successful which isn't done by most but all they want is profit by simply doing nothing which will never be possible not just in Bitcoin is simply applied universally.

This are some of the things that making some people to avoid using bitcoin. When they have gotten scam because they were interested to invest in bitcoin but along the line they were scammed so they started to tag bitcoin as a scammers something. Really these scammers are give bad image to bitcoin.

There should be a public orientation that should be given to the people at the public domain not to invest in bitcoin through YouTube, and social media platforms but investment when a trustworthy person told you to do so. The scamming reate is increasing day by day.

Thank you for this advice, I hope people can learn it and still change before they become the next victim of cryptocurrency. This scam started with Bitcoin, later, it graduated to Ethereum, but now, you see it all around the cryptocurrency as a whole. It is so bad to the point that people are so gullible, they just believe even when they haven't learned a single thing about where and what they are committing their money. How bad could that be? Once they hear the name Crypto, they believe is an automatic way to make money, but it is not, one can make the money or lose it, and one of the fastest ways to lose money in cryptocurrency is to believe in hypes and HYIP. The most common ones are mining scams and other fake staking scams. Everyone needs to learn and know the way the cryptocurrency they are dealing with works before they commit their money especially if you want to stake or mine. Many of them are now on social media employing the services of influencers to swindle people due to their cheap trust in mere handles. The earlier we know, the better for us.

Get rich quick from $80 as an initial capital, it's joking.

How much to become rich in mind of that person?
$800, $8000 or $80000, what is enough to be considered as rich?

If it is $800, it is a possible target.
If it is $8,000, it becomes a little bit impossible. You need to be very lucky to get a 100x increase from your capital.
If it is $80,000, it is 1000x increase from initial capital so it sounds very impossible.

People must be realistic and know that they can get rich, but with careful investment and with a lot of patience to know that if they want to get rich quick, they will become poorer.

What beginners must understand well is that there is no job that provides instant income in this world, especially in the crypto space. And another thing is that if they imitate other people very often without asking, they will not get anything other than just wasting time and feeling tired. Because whatever job it is, there must be a place for them to ask questions so that beginners can better understand that work always requires a process and there is no such thing as instant or instant pleasure because you get money.

Absolutely, there is no possible way in which you can get rich overnight. If you rob a bank, then only it is possible, else no work has capable of doing this. Now in this type of situation if someone promises to give you huge amount of profits, then definitely it will be scam only. People think Bitcoins are quick way to make money, but after investing in it, they know the reality. Hence, definitely they need to get out of this wrong thing.

This era of increasingly sophisticated times makes new people wonder how could this happen? Yes, because of all the time and process of strong determination to change destiny into reality. which does not have to guarantee a minimum of school education. because the will comes into being. The world of the internet is wide for making money, it's just that everything requires material things

Even though your story might sound a bit made up, I acknowledge that you made a valid point in your post. Many new investors, upon learning about Bitcoin, often misunderstand it as a quick way to get rich. While Bitcoin can yield profits, it's essential to realize that the returns depend on your investment. The misleading notion of quick wealth associated with Bitcoin harms its reputation. Some unscrupulous individuals exploit this misconception to deceive greedy investors.

Once these individuals lose their money, they hastily label Bitcoin as a scam. Many social media platforms are now exploited by thieves and scammers preying on those seeking overnight riches. We should be cautious about what we encounter online for our own safety.

If he could spend $80 without doing any research and just hand-over his money to random website, I guess he shouldn't be so angry if he was being scammed. If it was me, doesn't matter what is the site telling me wether Bitcoin, Genie, some Real-estate, or stock, if it ask me to deposit $80 I will do deep research before decided to give my money. Those guy might think that $80 is just a loose change and not some big money, so he he would just give away his money without any research, because with just a quick research he would find that most of cloud mining are scam.

There are actually a couple of angles to this:

1) High return - high risk

If someone claims you can make high profits without high risks he is lying, because if someone comes up with such an investment he would keep this knowledge to himself and get funding from his bank and become rich alone    :)

2) understand the business model

If someone claims: send me 100 Dollar and I send you 200 Dollar back, then maybe there is a certain chance that the model will not really work for you.....

3) Only invest what you can afford to lose....... If you invest 100 USD the most you can lose is 100 USD, but if you make a 100 x return you can make 10 000 USD.....It is kind of gambling some are lucky some are not, but be prepared that you will likeley lose...... but on the other hand maybe you have a good instinct to spot the winners...

Just saying....

If people are solely investing their money into things they don't comprehend, they're probably going to end up disappointed.

If they invest their time and understanding (and a bit of money) into an ethos and a set of principles and learn what it all means, then they'll be truly rich.

Invest in knowledge.  That's the best perspective.

We all learn from our mistakes. Getting rich quick is not an easy job especially when you are new to a field.
It's common to fall for such get rich quick schemes as a newbie but that's how we learn.
I would rather say that he learnt his lesson by paying $80 as a fees. Now that he has got scammed once, may be he will pay more attention the next time.

Greed is one of the reasons why people keep falling prey to scammers because they want quick money and the crypto market does not work like that. For us to get quick money from cryptocurrency, then we must be ready to learn and understand how cryptocurrency works that could give us to faster profits. The newbies would always want to make profits from the market but most time, they keep doing it in the wrong manner. We can make money from trading, investing, staking, selling of cryptocurrency strategy and so on. There is money I'm cryptocurrency only if we know how to go about it and learn the skill that would aid us to benefit from the market.

There is a big difference between making a quick profit or becoming rich quickly. First of all, there is no reliable system to become rich quickly that we can follow. If there were such a system, then everybody would follow it, become rich quickly and all of a sudden the money would be worthless because everybody has large amounts of it. Our capitalism world is not designed so that there can be many rich people. Money is always going to flow freely and will concentrate in the hands of a few. Bitcoin investments are great and will lead to a profit longterm, but the times of becoming a millionaire without having a lot of capital yourself are over. There are two ways to make large returns in investing. The first one is you already have a decent portfolio and just generate good returns of 10-20% per year. This will accumulate to a lot of money over a long period of time. It's not for people who want to become rich in a few months, because it's going to have to grow for 10-20 years to really pay off. The other way is you don't have a good portfolio yet, but still want to make high returns. Then your only option is to take a lot of risk and try to identify the next big project. Here you can make returns of 100+%, but there is also a high chance of the project going nowhere and you lose your money.

This is also the fault of those influencers who promote only the positive side of Bitcoin. They only show their profits but not their losses. And the naive investors will believe on them instantly without making any more doubts if what they see is true or only too good to be true. But it's great that we have threads like this. Let's just hope newbies will go on the forum first and read our posts here.

There are still short-term investors and traders who prefer to make profit in BTC quickly. It's not wrong as long as they already know what to do. I won't say they lacked in patience because both acts were hard, especially trading. They have patience in a way that they study it, and they went thru a lot of trials & errors before they finally increase their winning rates.

Those who invest greedily will certainly make the wrong decisions in the investments they make and they don't know well about the investments they make, so it would be better before deciding to invest in crypto, of course it is very important for all of us to be able to learn about it and You have to really understand it well, because without having knowledge about crypto it will certainly be impossible for us to get a profit from the investment we make.

Every beginner who wants to make a profit from crypto must learn it properly so as not to make mistakes that result in them losing the money they have in the investment they make and we must try it with capital that we can afford to bear if we experience a loss from the investment. and we must learn if we make a mistake so as not to repeat the same mistake on the next occasion.

Indeed. This is why it is always important to conduct research, even if an investment is being promoted by influencers. Knowing the positive and negative aspects of an investment is crucial to determine how to manage risk. Many of those kinds of investors only rely on influencers to determine whether an investment is legitimate or profitable. Influencers tend to focus on the positive aspects of investments, such as Bitcoin, as their main objective is to showcase their income or increase referrals.

This is happening for once in every million or more so if you turns to be one then you re the luckiest person on earth at least that time.
Learning from our mistakes , people does not care learning instead that is because they are  just to earn and sadly not to learn and this is why they are falling from those traps.


hoping that this will be His attitude now.

Well, a lot of people assume that it is okay to invest in crypto without knowledge about this. They just underestimate the volatility of the market and think, I could make more profit without doing anything. They'll find it wrong and realize their fault after disappointments.

If we dare can't spend time doing research, understanding the market behavior, etc...we'd rather not try because as other members are saying, we only just fail and get hurt. That is why we should stop assuming it all be okay but rather prepare for the risk and enhance our knowledge because this is the only way it helps us to succeed or else, we fail.

I think your story is very random, it happens with anything you spend $80 on.

Most people classify losing $80 as a scam but they are truly fortunate in their ignorance, $80 can only mean that you invested in experience for a situation that should not be repeated.

On the other hand, trying to change the perspective in investment situations is not something that is the responsibility of friends, it should be done by someone whom they can later complain to.  Avoid losing a friend.

Last bull run I heard some anti-Bitcoin people say that they made a big mistake for not investing in Bitcoin at that right time. Although they could not reveal this fact in front of everyone because they were involved in various negative issues towards bitcoin. The reality is that many people do not want to admit their incompetence, inability or their mistakes. But what is true that is never suppressed. Bitcoin has already proven that.

Who is responsible for the damage or loss caused by personal wrong decisions? I certainly can't blame Bitcoin or its system for that. If I get too excited and give own money to someone else without knowing  about mining, I am responsible for it.

Some people may still think that in the past btc or similar coins were suddenly rich because of it, due to several factors or things that made it possible for those who made huge profits from it, remember the old days when btc was not as valuable as it is now, and people saw it as impossible to get rich from it because we know the price is very, very worthless, BTC PRICE THEN (https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=https://www.cnbcindonesia.com/market/20231122083059-17-490935/lengkap-begini-jatuh-bangun-harga-bitcoin-sejak-2009-2023/amp&ved=2ahUKEwjB_b2IzPuDAxXie2wGHZ5bB6QQFnoECAwQBQ&usg=AOvVaw1roTcjCQDyaZ0D6Z7ZIZ6c)
But now we see that the price is very valuable and many people may expect btc to be like back then, where it was very easy to get. And I agree with the description you gave, but there are still risks and don't think that this is all instant without adequate knowledge.

With all that stories, it is not worth addressing the guy as ab Anti-Bitcoin. Just as said, he lost trust in Bitcoin due to the fact that his first time trial to play along in obtaining Bitcoin was a scam after he must have labored so hard to raise such amount of money @ $80 which fit him frustrated.
Moreso, anyone who doesn't have a Bitcoin guidance and wasn't knowledgeable about the Bitcoin industry would likely feel the same although, I blamed him for venturing into the system that he doesn't have basic knowledges about couples with his agility to getting rich quick which he hastily and ignorantly dived into the industry unconciously that there could be tendencies to lost your funds either by the volatily nature of the market or falling into scammers.

This not just laughable after he just narrated his stories to you because that moment could engage him more to emotional breakdowns which he might feel you are mocking him out of his stupidity and his illiteracy which got him being scammed because he could be worse gone devastated at such moment of time but however, of truly you embraced and encouraged him with the such amount of $10 in consoling him and so he could kickstart his reality Bitcoin journey from there, then I must say.... You did well at OP.

And this is the main reason on why people do really loves on trying out to catch up those opportunities on dealing up with some projects or simply with those shitcoins out there on which they are really that having  those kind of hopes that they would be able to get on the same train on what they had missed on Bitcoin and this is where it do really ends up on really look likes that people do becomes that desperate on the things that they are currently dealing with in terms of investing into crypto space. It is really just that there would really be those people who would really be just blindly making out those kind of actions
on which we know that it isnt something that recommended or it is really just that too much on doing so.

If you are someone whose really that thinking that Bitcoin investment could make you rich then better think again. Be realistic and somewhat you should really be
sticking into those viable ideas on which that it cant really be always that ideal to have those high hopes.

Good advice I will try it, indeed almost everyone wants the same thing that is instant in every impossible thing to do. Sometimes I was the same, but now I realize that everything is not instant and easy to go through.
As you said there are some people who despair in investing, especially those who take capital from others (loans) to invest and expect consistent profits with very satisfying results, but in reality they are the opposite of expectations that do not match reality.

Bitcoin will not make you rich, for this you will need knowledge, ability to analyze the market, take into account risks and most importantly, you must have sufficient capital to invest in Bitcoin, otherwise it will definitely not make you rich. But it is also stupid to deny that there are people who, by investing in Bitcoin, have become very rich, which means it is possible. I believe that any successful investment is the result of long and hard work on oneself, those who are willing to learn will achieve success.

Majority of the stories we read here are just made up stories and since we do not have any reliable means to differentiate a real story from a fake one, we just rely on our instincts and maybe believe whatever we like. Is there a penalty for anyone you lies in the forum? Maybe the same punishment for plagerism be metted to them?

Meanwhile, Op's story whether real or made up is a common knowledge and also the main reason why many people, especially the newbies claim that bitcoin is a scam. It is these third party platforms that gives bitcoin bad names.
Do you mean that you have read some other stories related to $80 and scam?

Some people think that what their seniors do is easy and anyone can copy them. But that's very wrong thinking, they should be more sensitive to what the senior has previously done and at the point where the senior is in an amazing position. Not seeing and thinking that simple, so they (beginners) should continue to learn and learn from trusted and proven useful sources, before doing what they want that way I think the success rate will be quickly felt and in the end they (beginners) will feel the position like their seniors.

Even having sufficient capital wouldn't make one rich if they are investing in Bitcoin unless the price of Bitcoin goes into the millions which isn't going to happen very soon. People or investors that got rich by investing in Bitcoin were the ones who invested when the price of Bitcoin was very low and they believed in it at that time and their belief and confidence in the cryptocurrency paid off and Bitcoin soar extremely high from where it was during those times.
Right now, only the rich can get richer by investing in Bitcoin, and regular or normal investors can only get some profit on their investment. This is the biggest reason why there are so many altcoins in the market right now, because people started investing in altcoins after Bitcoin went high because they knew they won't be able to get multiple folds of their investments in Bitcoin now so they started looking for those results in other cryptocurrencies.

Indeed, many people misunderstand bitcoin, which in the end they have the wrong view about investing in bitcoin so they are easily fooled by other people's invitations. This is all because they have the mindset that investing in bitcoin is to get rich quickly. Even though many people have become rich by investing in Bitcoin, it all requires knowledge and requires a long process to achieve that wealth.

To create the right perspective on Bitcoin, we must often seek information and study Bitcoin science in depth so that our mindset regarding Bitcoin investment changes to an asset for the future, not a get-rich-quick pattern.

It is only those who are greedy to get money quick without thinking the future precautions of the investment. Many have enter into the bad Hans of scammers to be scammed and before they are scammed anything you tell them they would not listened to you because at that moment they want not make money by all means. But nemesis caught them up. And as you mentioned, those who hate Bitcoin, hate it out of frustration and most of them are coming back again.

Many people only tell people about Bitcoin without the precautions and the risk involved in the investment. And they didn't even tell them things to do to grow the investment very fast but just keep them in the middle of no return. And that making the newbies in the cryptocurrency ecosystem market do things which they would not supposed to do.