Bitcoin investment doesn't guarantee you richness

[famososMuertos]

::///:::

Any investment advice must be accompanied by a disclaimer, even if it's your mother, closed Topic. 

Well, It's up to each person to process the information you give them, because talking about the disadvantages doesn't change the equation at all, nor will it make you less responsible.

[mirakal]

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.

People only say this so others don't think investing in Bitcoin is only about making money but if you follow all the guidance of investing in Bitcoin right, there's no way you won't be making money always from Bitcoin. When you buy low, hodl and sell high, you're always guarantee of profits therefore you can also say investing in Bitcoin is a guarantee that you'll be rich in the future when you invest with an approach amount and also hodl a large amount of Bitcoin and not just small quantities. What make people disappointed in Bitcoin is when the price doesn't go as they expected in the period they had in mind but it's not like Bitcoin will never get to that price later.

Honestly, bitcoin has certainly a lot of disadvantages in the eyes of those who are not actually real investors of bitcoin. Now, it’s up for us to analyze them whether we know the whole truth about bitcoin or we are just being illusional that we end up believing that those who invest in bitcoin are all end up getting rich. Because if that is the mindset you have, then you have no place in bitcoin investment.

The real challenge is actually to adopt those disadvantages of bitcoin and motivate oneself to turn it into your own advantage and opportunity. Despite how risky bitcoin is, if you know how to navigate it wisely, you will still end up being profitable if you work on your investment diligently.

[Adams0001]

Yes of course if you want to give someone an idea about Bitcoin, you have to explain both the positives and the negatives. Because if you only explain the positives to someone, they will invest without knowing the risks and blame you if they suffer a loss. Bitcoin is risky so don't expect quick profits by investing in Bitcoin. If you want to profit by investing in Bitcoin, you have to hold the investment for a long time. Everyone can invest but not everyone can hold for long. You can't guarantee profits by investing in Bitcoin, but you can expect profits if you hold it for the long term. So if you give someone an idea about Bitcoin, don't force someone to invest. If they want to invest on their own knowing about the risks, you can help them.

Exactly, anything you are trying to explain to someone you need to tell him the positive and negative about it first. if is still interested they you proceed and explain fodder about the investment. No investment or business is easy anyone have is on risk, he just depend on which investment you will prefer and minimise your risk on it. Bitcoin is the best investment to do in crypto and can minimise your risk as my on perspective but I don't know for others because anyone have is on observation. Any investment as is on risk and you won't get guaranteed that you will get rich on it. He just 50/50 you can get profit and you can probably lose too. So he just for your good to minimise your risk don't think because some get rich in crypto fast that you will put huge amount on the investment too, thinking you will get double of your funds on it, is not always come easily and that is why Bitcoin investment is always preferable to be in a long term. And even you invest in the long time you can't get 100% that you can become rich on it but you can probably get profit.

[FortuneFollower]

actually bitcoin investment is not a get rich quick scheme

bitcoin is a get rich slow scheme 

for real. if you cant hodl through 82K, you dont deserve the hundreds.

It's about mindset if you think that you can get rich from bitcoin that's a good idea but not right in my opinion because it's not as easy as imagined, but buying bitcoin to maintain the value of the money we have is the right idea because basically bitcoin has a limited supply so the value of the money we have will remain the same as before in FIAT before being hit by inflation.

The point is don't have an orientation that you can get rich from bitcoin from the current price, it will only torture your mind when the market is volatile.

Bitcoin will become only more scarce.

Fiat - not so much. That's all

[Ever-young]

Exactly, anything you are trying to explain to someone you need to tell him the positive and negative about it first. if is still interested they you proceed and explain fodder about the investment.

Even if you explain the positive and negative part of investment to someone you should make sure they listen very well and make them know that they are liable for which ever financial decision they make out of the information you give them that you are not go be held accountable, that might sound like a warning or red flag to some but it's the best way to stay out of trouble and warn who want to go into the investment of a thing newly to be careful and make the best decision out of the information they have knowing fully well that they are responsible for there own action..

[Patikno]

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..

I want us to let our siblings, loves one's know the advantages and disadvantages of investing in bitcoins, before they venture into cryptocurrency investment especially Bitcoin...because I was in a Bar taking some bottles, a woman came, she starting complaining to her friend how one of her lured her to invest on Bitcoin during the time bitcoins hits hundreds thousands [100k] and after investing in bitcoins at 100k price, then bitcoins price began to fall, to the extent that price of Bitcoin currently is at eighty-four thousands [84k]

So the woman that informed her of Bitcoin investment brainwashed her with motivational hopes of doubling what she invested within one week, so obviously the woman thought that she has become rich after she invested on Bitcoin.

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.

I also often find beginners in crypto who rashly invest without thinking about the other side of crypto or especially Bitcoin, most of them think that it can make them rich quickly in a long time. Therefore, I often tell them that it is necessary to know that investing in Bitcoin requires at least basic knowledge of its fundamentals, and is accompanied by patience, because it cannot generate wealth quickly, because it takes a long process, and of course I advise them to become long-term hodlers. In addition, I also advise them to use funds that are truly safe to invest in Bitcoin, in the sense that it is not needed for personal funds or can be called unused money from their savings. So the point is, every investment that is made requires a lot of knowledge to know what might happen when you start investing, because this is something that beginners often do, and makes them eventually fall into losses and regrets, even though it is their own fault.

[GeorgeJohn]

I also often find beginners in crypto who rashly invest without thinking about the other side of crypto or especially Bitcoin, most of them think that it can make them rich quickly in a long time.

Some people who joined bitcoin today, they joined bitcoin because people have lamented or commented good about bitcoin, so from my own understanding of Bitcoin, I know very well that bitcoin is not something you will invest now and start making profit, people who boasts on Bitcoin investment, people who make profits on Bitcoin, invest for long durability, but thinking that bitcoin investment, immediately you invest you become rich, i think that's a fallacy.

[wmaurik]

Even if you explain the positive and negative part of investment to someone you should make sure they listen very well and make them know that they are liable for which ever financial decision they make out of the information you give them that you are not go be held accountable, that might sound like a warning or red flag to some but it's the best way to stay out of trouble and warn who want to go into the investment of a thing newly to be careful and make the best decision out of the information they have knowing fully well that they are responsible for there own action..

In carrying out investment there will be advantages and also risks of loss when investing so it is very important for those who want to know about this investment to listen carefully and ask again if the explanation they get is not clear because it will be very risky when someone decides to invest without having a proper understanding of the investment and in explaining to others we must give them the freedom to make decisions based on their own wishes in carrying out investment and we should not force them to invest when they do not have the desire to invest in Bitcoin.

[hero_the_bossman]

I also often find beginners in crypto who rashly invest without thinking about the other side of crypto or especially Bitcoin, most of them think that it can make them rich quickly in a long time.

Some people who joined bitcoin today, they joined bitcoin because people have lamented or commented good about bitcoin, so from my own understanding of Bitcoin, I know very well that bitcoin is not something you will invest now and start making profit, people who boasts on Bitcoin investment, people who make profits on Bitcoin, invest for long durability, but thinking that bitcoin investment, immediately you invest you become rich, i think that's a fallacy.

Becoming rich quickly is not about BTC - it is about the proper knowledge and the usage of it to hodl properly.

[AGogi2003]

I also often find beginners in crypto who rashly invest without thinking about the other side of crypto or especially Bitcoin, most of them think that it can make them rich quickly in a long time.

Some people who joined bitcoin today, they joined bitcoin because people have lamented or commented good about bitcoin, so from my own understanding of Bitcoin, I know very well that bitcoin is not something you will invest now and start making profit, people who boasts on Bitcoin investment, people who make profits on Bitcoin, invest for long durability, but thinking that bitcoin investment, immediately you invest you become rich, i think that's a fallacy.

nothing always comes easy, anyone that study the about bitcoin very well, need to know that bitcoin investment is not a quick get rich you need to understand that you need to make a long time investment before you can Achieve your goal in crypto investment. anyone that think investing in bitcoin bring profit easily he don't really no what is crypto is just imagine it. anyone that you see have get huge profit in bitcoin, if you study them is not a short term project they did, they have invested for long term and the profit comes for them when the price increase, and some will be thinking he just a short time investment, and they get profit once, that is what some newbies like us think of. but anyone that engage on physical business will always know that nothing come in a easy way. you need to face some challenges first before you can get profit, because if investment always come easy am sure everyone should be rich currently. bitcoin can guarantee you richness when you leave it more then 10 to 20 years, because am sure the price will not be the same at this time and you need to make a better capital on it.

[finaleshot2016]

I also often find beginners in crypto who rashly invest without thinking about the other side of crypto or especially Bitcoin, most of them think that it can make them rich quickly in a long time.

Some people who joined bitcoin today, they joined bitcoin because people have lamented or commented good about bitcoin, so from my own understanding of Bitcoin, I know very well that bitcoin is not something you will invest now and start making profit, people who boasts on Bitcoin investment, people who make profits on Bitcoin, invest for long durability, but thinking that bitcoin investment, immediately you invest you become rich, i think that's a fallacy.

Becoming rich quickly is not about BTC - it is about the proper knowledge and the usage of it to hodl properly.

Yeah bitcoin isn't really something about quick rich but it can literally deliver you to a financial freedom if played well. Imagine the growth from the bottom and you believed about it, it's really a huge money right now and probably you're enjoying your life right now. The more knowledge you have in this space, the more opportunities you can have here. Bitcoin is just one of them, and by taking advantage of all the things in crypto, you can really make something about it.

[hyudien]

..

Some people who joined bitcoin today, they joined bitcoin because people have lamented or commented good about bitcoin, so from my own understanding of Bitcoin, I know very well that bitcoin is not something you will invest now and start making profit, people who boasts on Bitcoin investment, people who make profits on Bitcoin, invest for long durability, but thinking that bitcoin investment, immediately you invest you become rich, i think that's a fallacy.

Positive comments from bitcoin today have indeed become an attraction for beginners but those people do not understand how bitcoin works, they are only tempted by the benefits, one thing I want to say is before investing somewhere especially in volatile assets like bitcoin we must learn about how to make a profit and what needs to be remembered is that making a profit from bitcoin takes a long time. There is no shortcut to getting rich.

[GbitG]

Bitcoin will become only more scarce.

Fiat - not so much. That's all

Well, that's doesn't guarantee richness either. We all need to understand that Bitcoin can make someone profit, but when it comes to richness, it can barely do that anymore, and the reason behind for its value. Like when Bitcoin had a low price, those who either bought or mined it and kept it long enough got the value of their coins multiplied by thousands of folds, but that thing can't happen anymore because Bitcoin is already worth over $80k, and it will be worth $800k for just going up 10x.

So, logically, the fact is that Bitcoin doesn't guarantee you richness is correct because it can't unless you are doing futures and using either a large amount or too high leverage and the market works in your favor but honestly that's too risky and I don't think anyone would be ready to take that much risk.

[Reatim]

Exactly, anything you are trying to explain to someone you need to tell him the positive and negative about it first. if is still interested they you proceed and explain fodder about the investment.

Even if you explain the positive and negative part of investment to someone you should make sure they listen very well and make them know that they are liable for which ever financial decision they make out of the information you give them that you are not go be held accountable,

most people tend to get away from advising someone financially you are not a financial investor so you shouldn’t feel like you should be responsible for someone else’s financial decisions

even if you think you know better it will just frustrate you if they won’t listen to you and most likely they won’t

that might sound like a warning or red flag to some but it's the best way to stay out of trouble and warn who want to go into the investment of a thing newly to be careful and make the best decision out of the information they have knowing fully well that they are responsible for there own action..

well you have laid out the risks and the fact that you should not be blamed so they should know how serious it is and if they downplay it then that’s on them

[Onyeeze]

I also often find beginners in crypto who rashly invest without thinking about the other side of crypto or especially Bitcoin, most of them think that it can make them rich quickly in a long time.

Some people who joined bitcoin today, they joined bitcoin because people have lamented or commented good about bitcoin, so from my own understanding of Bitcoin, I know very well that bitcoin is not something you will invest now and start making profit, people who boasts on Bitcoin investment, people who make profits on Bitcoin, invest for long durability, but thinking that bitcoin investment, immediately you invest you become rich, i think that's a fallacy.

Becoming rich quickly is not about BTC - it is about the proper knowledge and the usage of it to hodl properly.

To become rich on Bitcoin depends on how you hold your Bitcoin and when you buy your bitcoin, I understand that bitcoin investment the profits depends when you buy the bitcoin and how long you hold your Bitcoin, so that's what I noticed about bitcoin investment, if you buy bitcoin and hold for long time, you will make a profit when the price increases, that's why its advisable to invest on Bitcoin when the price is low. Some certain people like to invest on bitcoin when the price is high so that is not the right time to invest on Bitcoin except that you want to invest when the price is high and the hold until the price increases like a period of 4 to 5 years

[suzanne5223]

I also often find beginners in crypto who rashly invest without thinking about the other side of crypto or especially Bitcoin, most of them think that it can make them rich quickly in a long time.

Some people who joined bitcoin today, they joined bitcoin because people have lamented or commented good about bitcoin, so from my own understanding of Bitcoin, I know very well that bitcoin is not something you will invest now and start making profit, people who boasts on Bitcoin investment, people who make profits on Bitcoin, invest for long durability, but thinking that bitcoin investment, immediately you invest you become rich, i think that's a fallacy.

I believe people almost everyone who join the Bitcoin space do so through the declaration of someone ^{(and that's include both you and I)}. According to Satoshi communication I read years ago, we have people like Gavin Andresen, Hal Finney, Mike Hearn, Laszlo Hanec, Jon Matonis, Theymos, etc. Join and support Bitcoin at the early stage due to the declaration and explanation of Bitcoin concept, and benefit explained by Satoshi.

If people have fallacy about Bitcoin today, one of the reason is the huge misinformation that circulating today, and the newbie are also lazy to do their own research.
In the early days getting information about maybe hard but atleast people an authentic information, and I happen to know about this forum when I was search for more knowledge about Bitcoin.

[HelliumZ]

There will be no benefit in keeping money in the bank because the way inflation is happening, in the distant future the value of money will decrease to a point where if you keep money in the bank, the interest rate on that money will not increase but the value of the money will continue to decrease. Investing in Bitcoin will definitely result in a profit at some point if you invest at the right time. In addition to investing in Bitcoin, if you also purchase gold or land, you are guaranteed to make a profit over time. So you need to keep some money in the bank, invest some in Bitcoin, invest in gold or real estate. You shouldn't imagine that investing all your money in one thing will make you rich overnight. It's not just that you can become rich by investing in Bitcoin, but there is a possibility of becoming rich by investing in various types of physical assets.

[Agbamoni]

Exactly, anything you are trying to explain to someone you need to tell him the positive and negative about it first. if is still interested they you proceed and explain fodder about the investment.

Even if you explain the positive and negative part of investment to someone you should make sure they listen very well and make them know that they are liable for which ever financial decision they make out of the information you give them that you are not go be held accountable, that might sound like a warning or red flag to some but it's the best way to stay out of trouble and warn who want to go into the investment of a thing newly to be careful and make the best decision out of the information they have knowing fully well that they are responsible for there own action..

Truly that part need to be emphasized on, so they don't blame them for anything that happens to their investment later in the future. What should be concentrated on is the fact that every choice made is out of personal conviction not because they are advised to. They also be told how personal decisions might after their investment. Lastly no promise of profit should be made. I have heard stories of investment advisors promising people of huge profit if they start their investment asap. I find it very misleading to advise people like that. I believe the pros and cons of investing should be well explained equally not siding one part mostly. The explanation should be educative not convincing.

[Zanab247]

There will be no benefit in keeping money in the bank because the way inflation is happening, in the distant future the value of money will decrease to a point where if you keep money in the bank, the interest rate on that money will not increase but the value of the money will continue to decrease. Investing in Bitcoin will definitely result in a profit at some point if you invest at the right time. In addition to investing in Bitcoin, if you also purchase gold or land, you are guaranteed to make a profit over time. So you need to keep some money in the bank, invest some in Bitcoin, invest in gold or real estate. You shouldn't imagine that investing all your money in one thing will make you rich overnight. It's not just that you can become rich by investing in Bitcoin, but there is a possibility of becoming rich by investing in various types of physical assets.

There is benefits in keeping money in the bank, bank are the ones taking the risk of your money in their hands in case anything happen to your money, they will be the ones to find solution to make sure you get your money back complete.  There are some interest some banks are paying to their customers monthly to encourage them, but it depends the amount of money you store in your bank.

If you are talking about future benefits, I guess storing your money in BTC have more benefits than storing your money in the bank, because the price of BTC is not control by the government and the price always pump higher during the bull run to cause investors to earn massive profits from BTC hodling.

[Koadharber]

I also often find beginners in crypto who rashly invest without thinking about the other side of crypto or especially Bitcoin, most of them think that it can make them rich quickly in a long time.

Some people who joined bitcoin today, they joined bitcoin because people have lamented or commented good about bitcoin, so from my own understanding of Bitcoin, I know very well that bitcoin is not something you will invest now and start making profit, people who boasts on Bitcoin investment, people who make profits on Bitcoin, invest for long durability, but thinking that bitcoin investment, immediately you invest you become rich, i think that's a fallacy.

Becoming rich quickly is not about BTC - it is about the proper knowledge and the usage of it to hodl properly.

To become rich on Bitcoin depends on how you hold your Bitcoin and when you buy your bitcoin, I understand that bitcoin investment the profits depends when you buy the bitcoin and how long you hold your Bitcoin, so that's what I noticed about bitcoin investment, if you buy bitcoin and hold for long time, you will make a profit when the price increases, that's why its advisable to invest on Bitcoin when the price is low. Some certain people like to invest on bitcoin when the price is high so that is not the right time to invest on Bitcoin except that you want to invest when the price is high and the hold until the price increases like a period of 4 to 5 years

Depends on how you do hold your Bitcoin and on how much you have invested. You cant really just that expect nor be that having those rich outcome if you have just that invested a little. There are those noobs who do really think up this way on which they do just simply put up some investment with Bitcoin and then expect that they can be able to make multiple folds of their investment on which this is really that laughable. Bitcoin doesnt really give out that guaranteed richness on which everything will really be basing up on how much you have put up and on how cheap that you have been able to bought in. On this way on which this is the most realistic way at least you wont really be finding yourself that being delusional because if you do and then the price doesnt reflect out on what you had expected then it will that disappoint you.

Whenever you do have that kind of decision about making up some investment with crypto or just simply with Bitcoin, then always invest into the amount on which you can afford to lose and never that be having those kind of hopes that you will be making guaranteed profit on such huge extent. Everything will be basing up on how this market behaves and works. If you arent that good on managing your investment then it will be leading up into that disappointment and will be leading into desperate decisions.