Wrong perspective towards Bitcoin investment

[tabas]

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.

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[sheenshane]

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.

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.

[GreatArkansas]

(....)
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.

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.

[Assface16678]

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.

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.

[cozytrade]

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.

[Popkon6]

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.

[rojan]

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.

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.

[lovesmayfamilis]

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.

[bluebit25]

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.

[EarnOnVictor]

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.

[m2017]

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.

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

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.

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.

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.

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.

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 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?

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.

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

[davis196]

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.

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.

[Nheer]

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.

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.

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.

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.

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.

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.

I couldn't just leave him hanging with that mentality towards Bitcoin. .

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.

[slaman29]

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.

[KiaKia]

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.

[Husires]

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.

[Blitzboy]

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.

[kryptqnick]

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.

[peter0425]

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.

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

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  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 

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

[Natsuu]

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