People mindset in Bitcoin

[CryptopreneurBrainboss]

People have different views and perception on Bitcoin, some persons believes Bitcoin to be a get rich investment, it could actually be true because so many people are making money on a daily basis from Bitcoin investment as it is a volatile market, while others are skeptical or afraid of losing money.

Bitcoin isn't a get rich quick schemes so that statement isn't true. Those that have made quick money from investing in Bitcoin in a very short period of time were just lucky and same can't be replicated with others as if you buy without understanding the market or planning to hold for a very long time, you can be dumped on. Investing in bitcoin is a patience game, you have to have lots of patience if you want to come out successful from your investments. Those that buy Bitcoin now and hold until we get to the next bull market are those that'll be in profit and not those that just buy when Bitcoin is already on the raise.

As a beginner, your mindset should always be focused on accumulating Bitcoin throughout the bear market as that's when bitcoin is usually selling at a discount. You can achieved that by buying them all at ones or DCA until you reach your targeted amount of Bitcoin to hold. The mindset shoudn't always be about making quick money or you'll get distracted by all the shitcoins spreading around the market in the name of altcoins and you'll giving away the capital you could have used to secure your future (through investing in Bitcoin) to this altcoins that aren't worth it.

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[Getmon]

To me bitcoin is substitute for work, cryptocurrency are more likely to be seen as uncontrollably digital assets, so making is not an optional, you need money to make money in it. This is not ponzi scheme or get rich quick, 3 things determines your expectations which are; capital volume, price and market. Don't expect too much when you start with little capital of $50-$100 it might not take you to anywhere. But more also people who use huge capital hardly loss or lose except out of greediness.

My point, yes bitcoin can add you to less financial stress but you must also give bitcoin good financial reasons.

Buddy, what do you mean by that? Is bitcoin a substitute for work? How? Are you employed by bitcoin? Who hires and pays the employees?

So, you made your point that bitcoin can bring in money, perhaps right after it has grown from having no value to being worth billions of dollars. But why did you say that we must give bitcoin good financial reasons in return? You are confusing Mr. Greggry. I am curious if your bitcoin investment has already relieved you of financial stress anyhow.

[Viscore]

for those who have knowledge and skills, of course, Bitcoin can make them rich. it is for those who see an opportunity. but not for those with blind ambition.
get rich in no time, I don't see that anyone can do. including with Bitcoins. all successful people have a steep road. they achieve it with hard work and perseverance. those who have seen Bitcoin change someone's finances for the better, with trust and consistency in Bitcoin investment. many beginners think it's easy, but in fact, more of those who try to fail to hold.

I guess there is no shortcut to being rich, everything is done by hardwork, full determination and perseverance. Even in gambling, you can’t expect that those who hit the jackpot prize and become instantly millionaire have not lose a thousand at first. Most especially with bitcoin, knowing the risk is high, still even if you have high knowledge and honed skills in it, you won’t be easily become rich with bitcoin. But for those who have been investing bitcoin for such a long time and has been managing their risks all throughout that long years, most likely they have been in a state right now of financial stability and independence.

[Jamala]

Despite the fact that the cryptocurrency industry as a whole is still in its infancy, Bitcoin has been around for quite some time. Other cryptocurrencies, on the other hand, are still young businesses, and investors ought to treat them accordingly.
Before making an investment in a cryptocurrency, it is recommended that you investigate the founders' backgrounds, previous projects, and industry experience as well as the industry landscape to ensure that you understand it. In point of fact, you should approach an investment in cryptocurrencies in the same way that you would a new business.

[Amphenomenon]

Indeed Bitcoin has made alot of people rich but this have affected alot of others mindset thinking they can just buy anytime and get rich quickly instead of them to do a proper research in order to know the right time to buy and sell for their investment plans

[lalabotax]

.... What's your take on these?. I know that what have advantages still have disadvantages, hoping with Bitcoin to survive can cause delay on some of our opportunities,

Because I am not using Bitcoin as a currency for payment in my country, I will consider much about using Bitcoin as a digital asset, commodity asset, and worthy asset for investment, both short or long term. Bitcoin is always profitable, but never forget about the risks, too. I believe that we can see some pros and cons of Bitcoin. This will exactly depend on us, how we are able to manage Bitcoin in our life. But of course for me, Bitcoin is very worthy asset, Bitcoin has changed my life, truly, this is more than digital asset as usual.

What we need also is to face any FUD that is spread about Bitcoin, and stay crosscheck everything informed abut Bitcoin because we also understand how people are still having opinions about Bitcoin. Many people still hate Bitcoin because of unfair information spread on the media.

[_BlackStar]

Indeed Bitcoin has made alot of people rich but this have affected alot of others mindset thinking they can just buy anytime and get rich quickly instead of them to do a proper research in order to know the right time to buy and sell for their investment plans

One thing is true, don't expect to get rich overnight for whatever your investment assets are.
Bitcoin allows every investor to get a return, but of course the strategy used will affect how much return you will get. Usually a large budget will allow you to earn large returns, so don't be too optimistic about large returns if you only invest a small amount.

I agree analysis plays an important role in making your plan work smoothly on investment, but simply you can still buy on every dip to get returns in the long term.

[Peanutswar]

They have different perspective in bitcoin some people seeing Bitcoin as one of the tool use in hacking and other kind of illegal action that could be use as mode of payment. But its before not until now there's a lot of improvement and innovation people now are using the bitcoin as one of the tool for different payment into business and establishment also in form of investment by keep holding and make a trade of it. Many people become rich on it but not as always people is for everyone there's some down by just having mistake where to invest.

[MarjorieZimmermanGinger]

Indeed, this is a very common mistake in crypto investment. The presumption is to become rich quickly with shortcuts in crypto investment, so that most investors, especially newbies, think that they will soon become rich if they invest in crypto. but they are not ready for all the risks, including price changes that are really fluctuated. And because of this unpreparedness it sometimes makes them feel down and end up panic selling their assets, without them knowing that they can still get profits if they want to hold on a little longer. but because they already think of being richer from crypto quickly, it becomes easier for them to panic buy and panic sell. This is the importance of understanding before investing in crypto, so that we can be wiser in our assumptions and hopes.

Understanding and knowledge are considered very important to review the extent of people's readiness to take risks, talking about investments is basically never free from risk, both bitcoin and other crypto, but it's different when someone understands bitcoin fundamentally. We can decide to accept bitcoin as an asset for investment and also have to be prepared to lose, at this stage it's not because bitcoin is unable to maintain its investment value, but rather the pattern of approach we take according to the stages. For example during this perio, bitcoin's selling price decreased, while we bought it at a slightly higher price, if someone understands bitcoin fundamentally, then the steps that must be taken are waiting for the next period of increase, not vice versa selling bitcoin due to panic.

That is the importance of knowledge to minimize unnecessary risk levels, so that someone will be brought to a conclusion on the decisions taken. Talking about the opportunity to get rich, go back to the person and how much money we have and how accurate the strategy we use in investing is, so that in the near future we will feel big profits. If we only rely on small capital, then the possibility of becoming richer from investing in bitcoin in the near future is impossible.