All in the name of money making

[Phoenix_PROG]

Many came into crypto space to earn money but some are too deep into making it big with crypto investment so they always feel like not getting enough when the coin they invested money in pumps high, they want to earn millions from a single project, I've seen few people ending up with nothing going down this part

The fact is you don't have to make thousands of dollars from a single project, they can always come from different projects, also it's wrong to depend on a single project

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[masterzino]

I don't think many people have a real hope of earning millions from a single project. We (I and all my friends who are deep in crypto) are buying token and/or investing in multiple projects knowing that some will fail, but others will earn us enough to cover that.

[Yaunfitda]

Many came into crypto space to earn money but some are too deep into making it big with crypto investment so they always feel like not getting enough when the coin they invested money in pumps high, they want to earn millions from a single project, I've seen few people ending up with nothing going down this part

Not just many come to earn money, but most of them thinks it's a get rich quick scheme, which is not. We hear this kind of mind set specially in the bull run. Even others quit their job because they think that can make easy money here.

The fact is you don't have to make thousands of dollars from a single project, they can always come from different projects, also it's wrong to depend on a single project

Of course, you can earn from a lot of projects you invested, from top 10 altcoins to shitcoins (assuming you know when to enter and to exit). Rinse and repeat.

[Jating]

I don't think many people have a real hope of earning millions from a single project. We (I and all my friends who are deep in crypto) are buying token and/or investing in multiple projects knowing that some will fail, but others will earn us enough to cover that.

Million dollars? Nah, but probably for those bounty hunters in 2017, many of them became instant millionaires in their local fiat, so that alone was an accomplishment already, because of the boom of the ICO projects back then. But since we enter 2018, the market suddenly turns into a bearish one.

But look no further, after a long wait, people are making money again thru this Defi, and Uniswap, so it's seems the cycle has repeated again. But I do hope that they learn their lessons from the 2017 and be careful and save money for the incoming bearish trend, just saying.

[Zilldev]

I think it's not just about Investing and making money.
For me cryptocurrency is about preserving people's privacy and reduce the government's power over individual.

Cryptocurrency is an opportunity for our society and investing in cryptocurrency by means of exchanges that require identification, I think ruins this opportunity.

[mk4]

Well, this is the exact reason why a lot of people(including me) are advocating for bitcoin only(and probably just a very small minority to gamble with alts), because in the long term, most alts, especially the smaller caps, ended up imploding or the hype simply dies down sometime along the way; whereas bitcoin is still the almost surefire going-to-rise-in-price-in-the-long-term pick.

I've made a lot of shitty mid-long term altcoin investments in the past too, whereas I could have a significantly bigger BTC stack right now if I simply just held.

[militiariko]

Many came into crypto space to earn money but some are too deep into making it big with crypto investment so they always feel like not getting enough when the coin they invested money in pumps high, they want to earn millions from a single project, I've seen few people ending up with nothing going down this part

The fact is you don't have to make thousands of dollars from a single project, they can always come from different projects, also it's wrong to depend on a single project

The word many is wrong, instead everyone is here in the crypto currency space to earn money; nobody is here for jokes or childsplay; be it bounty hunting, trading, investment, or even just getting acquanted with bitcoin. You have to set your sights to being in profits and not get involved in pump and dump tokens.

[adaseb]

People heard stories about how people made millions back in the 2017 and so they are waiting for a repeat right now. The way how some people turned like $10K into a million is due to buying alts or buy trading Bitcoin at high leverage.

However what most people don’t realize is that most that made a million quickly gave it back when the markets turned in 2018.

Sure there are some smart people who overcame greed and took profits however most gave it back to the market. This time it will be no different.

[Gozie51]

Many came into crypto space to earn money but some are too deep into making it big with crypto investment so they always feel like not getting enough when the coin they invested money in pumps high, they want to earn millions from a single project, I've seen few people ending up with nothing going down this part

The fact is you don't have to make thousands of dollars from a single project, they can always come from different projects, also it's wrong to depend on a single project

You are correct brother and it looks you are experienced and have encountered such disadvantage of having a coin and believing that just one coin with few units can make you rich over the night. I have been with such experience in the past and have decided to sell at a major pump on a coin that I hodl. If you ha be a coin and keep hodling for long, it can drop at any time which you may regret, don't regret but sell if you have some profit so that you can buy into more profit.

[NeuroticFish]

The fact is you don't have to make thousands of dollars from a single project, they can always come from different projects, also it's wrong to depend on a single project

It actually depends...
I am here for long enough to see that a huge number of altcoin projects, although promising at start, now are dead, or dying, or at least far less profitable than Bitcoin.
...And I am not talking about scams.

So putting all the eggs into Bitcoin basket is for now a better choice than trying to earn a little from more different projects.
Of course, that is possible too as long as you are careful and leave those projects before they start going downside.

All in all, while what you are saying is correct on paper, altcoin scene has shown that the reality is different.
So diversifying has to be done with extreme caution. And in doubt, stay on the main project: Bitcoin.

[sunsilk]

Many came into crypto space to earn money but some are too deep into making it big with crypto investment so they always feel like not getting enough when the coin they invested money in pumps high, they want to earn millions from a single project, I've seen few people ending up with nothing going down this part

This is the effect of greediness. Been there and thought that I'll earn more than what the market is showing and that made me done wrong decisions. As much as you get profit, don't ask for more but if you do, then do it with the process that's safer than you could. Instant and quick profits would lead you to another wrong decisions which most of the newbies do it wrongly.

The fact is you don't have to make thousands of dollars from a single project, they can always come from different projects, also it's wrong to depend on a single project

Right on. If you're into projects like Defis or IEOs or still with ICOs, you have to move on from project to project if you're that type of person. The market for these projects are dynamic, they're changing overtime and that can affect your investing decisions whether to keep holding them or not. But with the situation you see today, do you think it's worth a shot to follow each and variety of them?

[JimboToronto]

I think it's not just about Investing and making money.
For me cryptocurrency is about preserving people's privacy and reduce the government's power over individual.

Cryptocurrency is an opportunity for our society and investing in cryptocurrency by means of exchanges that require identification, I think ruins this opportunity.

 

Exactly. This is why Bitcoin stands alone apart from other "projects" like dollars, ethereum, euros, ripple, defi, etc.

People who buy Bitcoin to sell it for a fiat profit aren't investing in Bitcoin they're just gambling. They aren't investing their wealth in support of game-changing new technology. They're just trying to make a buck.

It seems that those who mined or bought Bitcoin because they believed in what it stood for are more likely to have made millions than those merely trying to get rich.

[LUCKMCFLY]

This is a very open topic, particularly we are all looking for money, because it is a lie to say that money is not sought by working, it is normal, the crypto space has many advantages in this regard, since there are projects that are now emerging, especially in the DeFi ecosystem, but everything is a risk, the safest way is to do jobs and pay with Bitcoin, this the only way to get rich is by investing in Bitcoin and making Hodl.

[Husires]

I am against this philosophy. Do the rich collect their money by dispersing and putting a lot of eggs in the baskets? It is the policy of the poor, but it is more correct to focus on choosing the right currency and selling it when it begins to separate.
Not all projects are successful. So why risk dragging so many currencies that their storage is only profitable?

Invest in one currency and make your gain or loss foolish, but do not covet or invest stupidly.

[mersal]

Many came into crypto space to earn money but some are too deep into making it big with crypto investment so they always feel like not getting enough when the coin they invested money in pumps high, they want to earn millions from a single project, I've seen few people ending up with nothing going down this part

The fact is you don't have to make thousands of dollars from a single project, they can always come from different projects, also it's wrong to depend on a single project

You can make millions with Bitcoin itself but it depends on the capital you have to invest not on the number of projects you can invest. Right now Bitcoin is at its peak so if someone bought Bitcoin when it was at 5000 or below when covid hit us then they made nearly 550% growth in less than a year. Investors are here for Money making but not everyone who invested in cryptocurrency may not be in profits due to lot of factors

[DustyRah]

Many came because they simply did not want to be LEFT BEHIND!

[justdimin]

What people do not realize is the amount of money rich people made per year and how they got rich. Nobody made more than 100% profit a year, thats unrealistic and that usually never happens, wanna know how Warren Buffet was one of the richest people alive for years? He made 20% a year profit for 50 years, that's how. Obviously there are people like Mark Zuckerberg or Jeff Bezos who invented a company and got super rich, but even they didn't become that rich overnight, they worked on their business for years not making any money, Jeff Bezos actually lost a ton of money for a very long time before starting to worth something.

So long story short people in crypto want to make a ton of profit right away and get rich very quickly but they do not realize that you need to spend about 10-50 years to become that rich on steady decent returns, instead of overnight success stories.

[sarmrakib]

Many came into crypto space to earn money but some are too deep into making it big with crypto investment so they always feel like not getting enough when the coin they invested money in pumps high, they want to earn millions from a single project, I've seen few people ending up with nothing going down this part

The fact is you don't have to make thousands of dollars from a single project, they can always come from different projects, also it's wrong to depend on a single project

Its really true it is so tough to get to be rich within a few times and a single project .If the project goes down you will get nothing you will lose your everything .I think we need to invest on different project as you said it will give us a good return on a ratio .So don't put your all money on a single project .

[Ken_terrance]

The truth is I was once like this, buying a token and hoping it will grow bigger in few years but it got to a certain point I started seeing things more clearly, I later knew that I need more than just a single project to get to my aims, projects failed, got abandoned or turn scam too many time, you don't want to spend your time depending on a single project, believe me it's wrong way

[JimboToronto]

...wanna know how Warren Buffet was one of the richest people alive for years? He made 20% a year profit for 50 years, that's how...

And he didn't do it just by buying and selling shares.

He did it by buying controlling interest in companies, restructuring them, and making them profitable.