Wrong perspective towards Bitcoin investment

[BlackBoss_]

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.

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.

[1714838263]

1714838263

[CageMabok]

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

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.

[Nrcewker]

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.

[irsykes]

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

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.

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

[Hatchy]

~snip

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.

[icalical]

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.

[bobbybkk]

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.

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.

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....

[DooMAD]

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.

[pawanjain]

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.
~snip

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.

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.

[Wakate]

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.

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.

[Mauser]

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.

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.

[dezoel]

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.

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.

[Vinaa77]

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.

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.

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.

[LesterD]

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.

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.

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.

[peter0425]

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.
~snip

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.

We all learn from our mistakes. Getting rich quick is not an easy job especially when you are new to a field.

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.

It's common to fall for such get rich quick schemes as a newbie but that's how we learn.

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.

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.

hoping that this will be His attitude now.

[Yamifoud]

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.

[famososMuertos]

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.

[Rabata]

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.

[itorai]

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.

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
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.

[EluguHcman]

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.