Wrong perspective towards Bitcoin investment

[ColdLava40]

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.

[1715500326]

1715500326

[1715500326]

1715500326

[Oshosondy]

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.

[Mia Chloe]

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.

[Yatsan]

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.

[Orpichukwu]

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.

[letteredhub]

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.

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.

[cabron]

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.

[Dr.Bitcoin_Strange]

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.

[BABY SHOES]

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.

[criptoevangelista]

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.

[Cookdata]

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.

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.

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.

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  . 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.

[Renampun]

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

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.

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.

[Rruchi man]

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.

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.

[Dzwaafu11]

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.

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.

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.

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.

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.

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.

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.

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

[franky1]

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

[uneng]

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.

[Kemarit]

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.

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.

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.

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.

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.

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.

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.

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.

[GeorgeJohn]

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

[Rufsilf]

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.

[kawetsriyanto]

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.

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.

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.

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.