Bitcoin investment doesn't guarantee you richness

[WeedGoW]

Summary Do not tell people who has not invested on Bitcoin only the positive side of Bitcoin investment, also give them or tell them the more of the negative of Bitcoin, let them know that price of Bitcoin is not constant it always fluctuating, so that they will not having such mind of becoming rich they have invested in Bitcoin with a short time.

You have mentioned the truth, because nobody says the difficulty speaking just about the benefits of investing in bitcoin. In my opinion it is better to tell those who wish to invest bitcoins everything first. There are lots of difficulties as there are benefits in Bitcoin. High risk of bitcoin investment is a complete investment. The price of highly destabilized in the Bitcoin or any currency market fluctuates much faster and that fluctuations can cause big risks for sirs. Before investing, it should be remembered that you may expect big profits one day, but it is very important to think long while investing in another currency.

[Y3shot]

I have seen a similar case where the guy doesn't know much about how bitcoin works, but claims to be a good trader. He told a lot of people to give him funds to trade for them. Unknown to him that bitcoin is a volatile asset. When the price started dipping, he made a big loss. He sweared not to deal with anything cryptocurrency again. His lack of knowledge, made him feel that bitcoin was a scam.

It is very risky to collect money from people to trade for them, it is not even advisable for anyone to go into trading without having knowledge to trade because you will definitely lose your money in the market.  One of the problem with some people is that they have refused to learn but they have so much confidence that they can do all things with idea but it not like that for trading. In trading you must acquire good knowledge before putting in money to make some trade.

[fikrett]

I have seen a similar case where the guy doesn't know much about how bitcoin works, but claims to be a good trader. He told a lot of people to give him funds to trade for them. Unknown to him that bitcoin is a volatile asset. When the price started dipping, he made a big loss. He sweared not to deal with anything cryptocurrency again. His lack of knowledge, made him feel that bitcoin was a scam.

It is very risky to collect money from people to trade for them, it is not even advisable for anyone to go into trading without having knowledge to trade because you will definitely lose your money in the market.  One of the problem with some people is that they have refused to learn but they have so much confidence that they can do all things with idea but it not like that for trading. In trading you must acquire good knowledge before putting in money to make some trade.

That's a really bad idea indeed.

We should trade only with the funds we are willing to spend, and these shouldn't be someone's to begin with.

[Iranus]

Yes, most new Bitcoin investors believe they'll get rich simply by investing in Bitcoin, only to discover later how wrong they were.

It can be said that most of the fault lies with the newbies because they did not take the time to do thorough research first and just invested based on other people's advice. But part of the fault lies with some investors when focus only on talking about huge profits and forget to mention the risks that bitcoin can also bring when advising others.

When advising anyone new to investing in Bitcoin, it's crucial to explain the risks before the rewards. It's also essential to explain the significant volatility inherent in Bitcoin. We must understand first and foremost that Bitcoin doesn't provide quick riches, but rather is the best way to hedge against inflation and gain profit in the long run.

In short: when giving advice to others, we should be fair and provide them with the full pros and cons of investing in bitcoin. Hiding the downsides and risks of investing in bitcoin only hurts them, not helps them.

[dunfida]

Summary Do not tell people who has not invested on Bitcoin only the positive side of Bitcoin investment, also give them or tell them the more of the negative of Bitcoin, let them know that price of Bitcoin is not constant it always fluctuating, so that they will not having such mind of becoming rich they have invested in Bitcoin with a short time.

You have mentioned the truth, because nobody says the difficulty speaking just about the benefits of investing in bitcoin. In my opinion it is better to tell those who wish to invest bitcoins everything first. There are lots of difficulties as there are benefits in Bitcoin. High risk of bitcoin investment is a complete investment. The price of highly destabilized in the Bitcoin or any currency market fluctuates much faster and that fluctuations can cause big risks for sirs. Before investing, it should be remembered that you may expect big profits one day, but it is very important to think long while investing in another currency.

Nothing shocking on which people will really be that focusing into the positive rather on knowing the negative. The only thing about other people been that trying out to focus is on how they would really be able to make positive or making up some gains with their crypto investment on which this isnt really that only talking about its negative on which we know that its always been part when it comes to investment. Same also into those people who had been that too optimistic on which it do comes into a point that they had that become that too unrealistic when it comes into their goals. There are even thinking about being getting rich with having a few hundred bucks of their investment on which they didnt even trying to check out about the overall marketcap on how much they could potentially make if the price of Bitcoin would be hitting up. Guarantee shouldnt really thinking up first because at the time that you do have that thinking then you do really that become that too desperate.

Whenever you do made out some decisions on investing then always invest on what you can afford to lose and never ever having that kind of generalization or drawing up some conclusions because we dont even know on whats the future of Bitcoin. Invest into those amount on which you can afford to let go because if you've been that doing some all in kind of investment and if the price goes south even if we do speak about longer years then it will really be bringing out that kind of disappointment. This is why its really that important that you do really know on what you are indeed doing.

[TheUltraElite]

Due diligence is what I say.

Nothing in the investment space is without a risk, bitcoin has its risks and that needs to be understood. This is one of the reasons why people cant make money from investments or trading, they dont understand risk properly and how to manage it.

Stock markets have their own risks, so does gold and real estate. Each has its own specific mindset to ride through.

[fikrett]

Due diligence is what I say.

Nothing in the investment space is without a risk, bitcoin has its risks and that needs to be understood. This is one of the reasons why people cant make money from investments or trading, they dont understand risk properly and how to manage it.

Stock markets have their own risks, so does gold and real estate. Each has its own specific mindset to ride through.

Yeah, I totally agree.

Once you get the proper knowledge of how to hodl and why you need to do it, it all clicks, and you never experience shaky hands on BTC.

[Z_MBFM]

Summary Do not tell people who has not invested on Bitcoin only the positive side of Bitcoin investment, also give them or tell them the more of the negative of Bitcoin, let them know that price of Bitcoin is not constant it always fluctuating, so that they will not having such mind of becoming rich they have invested in Bitcoin with a short time.

If one invests without doing a proper analysis and listening to someone it is the reason for his failure, money is not something to neglect so everyone should invest his money carefully. Bitcoin is a volatile and lucrative currency that offers higher profits in less time than other investments. That's not to say that investing in Bitcoin is risk-free. Just as investing in bitcoins offers higher profits than other investments, it also has the potential for higher losses than other investments if one panics in the short term. Investing in Bitcoin requires building up patience in advance so that you can keep yourself in control in any situation and keep a tight holding of Bitcoins. Bitcoin never makes anyone rich overnight.

[betswift]

If one invests without doing a proper analysis and listening to someone it is the reason for his failure, money is not something to neglect so everyone should invest his money carefully. Bitcoin is a volatile and lucrative currency that offers higher profits in less time than other investments. That's not to say that investing in Bitcoin is risk-free. Just as investing in bitcoins offers higher profits than other investments, it also has the potential for higher losses than other investments if one panics in the short term. Investing in Bitcoin requires building up patience in advance so that you can keep yourself in control in any situation and keep a tight holding of Bitcoins. Bitcoin never makes anyone rich overnight.

If you hodl for 5+ years, you win in no matter the case with BTC.

Just keeping your hands tight and not dropping out of the process due to dips / corrections. Just continue and push forward.

[doubletheprof]

I think no one saint thinks it is guaranteed, but it is HIGHLY PROBABLE...

[hero_the_bossman]

I think no one saint thinks it is guaranteed, but it is HIGHLY PROBABLE...

It's high if you have enough understanding what to do

[Nothingtodo]

Summary Do not tell people who has not invested on Bitcoin only the positive side of Bitcoin investment, also give them or tell them the more of the negative of Bitcoin, let them know that price of Bitcoin is not constant it always fluctuating, so that they will not having such mind of becoming rich they have invested in Bitcoin with a short time.

Yes, it is true that one should not encourage someone to invest by only mentioning the positive aspects of Bitcoin. Because in this case, if he faces losses after investing, then he can certainly blame himself for highlighting these positive aspects. Before investing in Bitcoin, one must thoroughly explain the negative aspects of Bitcoin and the risks involved in investing, and then encourage them to invest. If someone is well aware of the risks of investing, then they certainly cannot blame Bitcoin.

[kryptqnick]

Investing in Bitcoin requires not only desire, but also knowledge. Of course, Bitcoin can bring profit, but there's indeed a lot of risk. And it's not just the risks inherent to Bitcoin, such as volatility and major price corrections. It's also the risk of storing coins on centralized platforms and getting scammed/losing money in a major exchange hack, the risk of losing your own passphrase, of sending money to the wrong address.

And while we hope Bitcoin will keep rising, the past is never a guarantee for the future. That reminds me of Hume, who thought that even the laws of nature are not as permanent as we believe them to be, and perhaps one day, gravity changes or the Sun never rises. I am not as sceptical as Hume, but while I think the Sun will keep rising, I understand that Bitcoin might not.

[Faisal2202]

They're some misconceptions beginners in cryptocurrency investment especially Bitcoin normally do and also think during investing in bitcoins, especially people that has not invested in cryptocurrency before,  some people think that immediately you venture into bitcoins investment you're rich, but such concept or ideology is not real..

That's because people are too traditional to accept the new technology, they create such concepts because they have only heard the good stories of how people made generational wealth by investing in BTC but what they don't understand is, these people have invested in BTC in early times, now they can make the same profit but it will take longer than that, another mistake these traditional people make is considering some other alt as the next competitor of BTC thinking that the X coin will make them the generational wealth too.

I agree with your summary, we should give them the whole picture of what it looks like to invest in BTC it is not always profit, and we can't make quick generational wealth like people have made, and TBH I have seen a lot of people making money from shady ways.

[Frankolala]

I haven't really achieved too much from my bitcoin investment which I am building from my signature campaign weekly payment, because I am still piling it up for the future as a hodler. I have benefited a lot from the forum apart from the financial aspect. I have learned to be humble and keep my bitcoin investment secrets without showing off. I have gained a lot of knowledge in various aspect life.

[qwertyup23]

I mean, investing in general does not guarantee you richness at all. You really have to be smart with your investment portfolio in order to make the most out of your returns. Also, investments are considered part of your savings that will generate value for long-term.

If you will observe the price history graph of BTC, you will see that for years there has been a steady increase of its price. Of course, there are lots of factors to consider but if you invest for long-term with a minimum return of ten (10) years, then you will see that it will grow on its value. You may not be rich once you convert it to cash but at least you have something that is comfortable enough for you to enjoy.

I haven't really achieved too much from my bitcoin investment which I am building from my signature campaign weekly payment, because I am still piling it up for the future as a hodler. I have benefited a lot from the forum apart from the financial aspect. I have learned to be humble and keep my bitcoin investment secrets without showing off. I have gained a lot of knowledge in various aspect life.

I am with you on this one.

To be honest, I deeply regret my past decisions of spending almost all of my BTCs that I have earned from participating in campaign signatures since 2017. Unfortunately, I was only able to save at least 10% of my BTCs and I really regret not investing it for long-term. Now that I know better, all of the proceeds that I earn from my campaign signatures go directly to my investment portfolio for long-term returns.

[Dr.Bitcoin_Strange]

If not that people are just too inquisitive of making quick money, why would she invest in to something that she doesn't have a proper idea about, is she not also supposed to do her own research before putting her money into it? Who ever that has brain washed her to invest into Bitcoin without telling her about the risk, did she herself bothered to ask the person the future risk of such investment? Sometimes people are just too blinded by the mentality of get rich quick schemes and that's why they easily get scammed. Because if she was not ready to hold Bitcoin for a long time, she should not have bought at $100k but should have bought Bitcoin earlier when price was still around $40k.

[hyudien]

Summary Do not tell people who has not invested on Bitcoin only the positive side of Bitcoin investment, also give them or tell them the more of the negative of Bitcoin, let them know that price of Bitcoin is not constant it always fluctuating, so that they will not having such mind of becoming rich they have invested in Bitcoin with a short time.

Investing also has its techniques, and it is not just throwing money at random prices without doing research on price movements. So the woman had clearly heard sweet things from her friend but not with the risk because investing in volatile assets will always face the phase of rising and falling prices. Her decision was good to invest in Bitcoin but in the wrong way and was considered reckless, especially entering at the highest price where the situation is now no longer buying but selling. But what she has now with bitcoins bought at a price of more than 100K, then she needs to wait for the next Halving time or cycle. And for now she really has to forget her sweet hopes.

[lixer]

Yes, most new Bitcoin investors believe they'll get rich simply by investing in Bitcoin, only to discover later how wrong they were.

That is because when we are new, the excitement is still high despite having an idea about others about this. They might discover it wrong later on but as long as they are still doing their job of buying and hodling, they will now actually be closer to their dreams of getting rich.

When advising anyone new to investing in Bitcoin, it's crucial to explain the risks before the rewards. It's also essential to explain the significant volatility inherent in Bitcoin. We must understand first and foremost that Bitcoin doesn't provide quick riches, but rather is the best way to hedge against inflation and gain profit in the long run.

As a good or honest advisor, yeah and they definitely know this already but for those who have other intentions like they think BTC is like a pyramiding. They will do what they can to attract more people to it including false advertising or giving false advice. If only about being a hedge, there are also others out there. I won't say BTC is the best. There are still other use cases of BTC and some might get interested of them than by simply holding their BTC for the long-term.

[Zoomic]

I really do think that it is best to put it this way: "Investment in Bitcoin guarantees wealth if done right." The truth remains that Bitcoin is a store of value, and if we allow our Bitcoins to appreciate further without touching them, we will become rich in the future.

I am beginning to see things from this angle that there is really no bad side to Bitcoin and as such, there is no need to talk about any bad side to anyone. Just like every other kind of investment, there are dos and don'ts that will determine whether the investor becomes profitable and rich or loses everything, including their capital.

In the case of Bitcoin, the major factor that determines profitability is volatility. I believe that is what most Bitcoin investors are tagging as the bad side of Bitcoin. Volatility is not entirely bad; anyone who understands how to use volatility to their advantage will be glad they got to know about Bitcoin.

All investors need to do is understand the basic concepts of Bitcoin and form a good strategy that will help them navigate the risks on their investment journey. If they are able to follow due process, they will be just steps away from getting rich.

No true investor who has done thorough research about Bitcoin before investing will still see Bitcoin as a get-rich-quick scheme, except they are just being greedy and lazy. If these kinds of people lose, it is very understandable.