Bitcoin investment doesn't guarantee you richness

[FortuneFollower]

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
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Proper hodling => results in the end of the process. It's as simple as that. Hands just shouldn't shake due to any dip / correction occuring

[TheUltraElite]

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.

The media does as per what the governments want them. Good news in times of high prices and bad news during the stagnant times like at present.

For someone new to crypto, a bigger picture explanation is necessary. How the market has moved over the years since it was started and how new affects the market or not. No one should think that bitcoin is a cult and is being inorganically being inflated in price for suckers to buy at high.

For this reason keep the talk neutral even if it means the person in front of you might move away - they will come back sometime in future.

[henry_of_skalitz]

The media does as per what the governments want them. Good news in times of high prices and bad news during the stagnant times like at present.

For someone new to crypto, a bigger picture explanation is necessary. How the market has moved over the years since it was started and how new affects the market or not. No one should think that bitcoin is a cult and is being inorganically being inflated in price for suckers to buy at high.

For this reason keep the talk neutral even if it means the person in front of you might move away - they will come back sometime in future.

It's about the perception of FOMO / FUD. The person who has enough experience and knowledge won't fall off due to the news saying "it's over, the run is going to end in 3..2..1.. "

[madnessteat]

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.

The media does as per what the governments want them. Good news in times of high prices and bad news during the stagnant times like at present.

For someone new to crypto, a bigger picture explanation is necessary. How the market has moved over the years since it was started and how new affects the market or not. No one should think that bitcoin is a cult and is being inorganically being inflated in price for suckers to buy at high.

For this reason keep the talk neutral even if it means the person in front of you might move away - they will come back sometime in future.

It doesn't take much time to understand the advantage of BTC over other assets. It is enough to spend a few days reading articles, many of them can be found on this forum. If you open the chart of BTC for all time you can understand that a greater percentage of people who invested in BTC during its existence are in profit. BTC has long been accepted by the world and the more time passes the higher the demand for BTC becomes. If a person is willing to wait a few years, then investing in BTC is a great asset for a beginner. All assets are subject to volatility and Trump's rise to power has demonstrated this once again.

[Lida93]

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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.

People prioritize the potential benefits they are to get from bitcoin than anything they would need to hear or know about bitcoin. And so they neglect the risk aspect which is a complimentary part of any investment assets to which bitcoin isn't different. Because there's no investment with a risk. Their ignorance from not learning about the risk aspect makes them lack the technical know-how to navigate through and what right decisions to take at bad market periods after they have invested base on the only the positive of bitcoin they're aware of.

[fikrett]

People prioritize the potential benefits they are to get from bitcoin than anything they would need to hear or know about bitcoin. And so they neglect the risk aspect which is a complimentary part of any investment assets to which bitcoin isn't different. Because there's no investment with a risk. Their ignorance from not learning about the risk aspect makes them lack the technical know-how to navigate through and what right decisions to take at bad market periods after they have invested base on the only the positive of bitcoin they're aware of.

The risk in BTC investment is the smallest one out there, though it's still appropriate to remember about it , it's also important not to fear of what is possible with BTC.

[Lida93]

People prioritize the potential benefits they are to get from bitcoin than anything they would need to hear or know about bitcoin. And so they neglect the risk aspect which is a complimentary part of any investment assets to which bitcoin isn't different. Because there's no investment with a risk. Their ignorance from not learning about the risk aspect makes them lack the technical know-how to navigate through and what right decisions to take at bad market periods after they have invested base on the only the positive of bitcoin they're aware of.

The risk in BTC investment is the smallest one out there, though it's still appropriate to remember about it , it's also important not to fear of what is possible with BTC.

If we compare the risk of other cryptocurrencies you are very correct because unlike altcoins bitcoin is less volatile asset and has over the years proven to be trusted asset to bank on for as long as the investor can be able to hodl on to. But nevertheless, having a comprehensive knowledge on both ends about bitcoin can be much helpful for a newbie investors in knowing how to take advantage of bad markets (dips) instead of expressing fears.

[henry_of_skalitz]

If we compare the risk of other cryptocurrencies you are very correct because unlike altcoins bitcoin is less volatile asset and has over the years proven to be trusted asset to bank on for as long as the investor can be able to hodl on to. But nevertheless, having a comprehensive knowledge on both ends about bitcoin can be much helpful for a newbie investors in knowing how to take advantage of bad markets (dips) instead of expressing fears.

Surely, here I can agree too - knowledge brings opportunities.

And it's also important to minimize the risks that are there (even if they are small).

[Cryptohygenic]

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.

I am not on the support of spreading false information on the benefits of investing on bitcoin but those I think it is high time people outside the world of cryptocurrencies should be questioned and be skeptic whenever they are being recommended to invest their money online and will be expected to double their capital in a short time as that weekly rewards.
Ponzi does not seem new again which everyone who is told about investing on bitcoin with the Ops story should not be convinceable.
If you can't make your own research about it, then just take it to be scam even when it is true in reality because that is absolutely a form of the Ponzi schemes.
I also think people literally fall into scam because they are looking for a quick rich source.
The truth is usually bitter which if the woman's friend has told her that the time to make profit in the bitcoin investment is indefinite because profits only comes when the price increase in a high margin from the bought entry.
Then I think the woman would not have invested due to impatient. I more concerned about this thread with the insight that people just fall victim to scam due to greeds.

[EarnOnVictor]

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.

The right mindset to investing in Bitcoin is important, you'ren't gonna be rich in Bitcoin the way the people who bought many of it at a price lower than $100 would, the opportunity is gone, people can only try to buy at a cheap rate when it is just beginning another bullish season, not that they will enrich themselves easily with it.

You can imagine how some people are still lousy about investing in Bitcoin when it was $100,000. Assuming a newbie bought it then with $1,000 at that level, even if Bitcoin gets to $200,000 (a level it will not get to earlier than 2028 (2x)). Is that riches? No. That's why we should stop being bigots, especially when advising people to invest in it.

[john_egbert]

The right mindset to investing in Bitcoin is important, you'ren't gonna be rich in Bitcoin the way the people who bought many of it at a price lower than $100 would, the opportunity is gone, people can only try to buy at a cheap rate when it is just beginning another bullish season, not that they will enrich themselves easily with it.

You can imagine how some people are still lousy about investing in Bitcoin when it was $100,000. Assuming a newbie bought it then with $1,000 at that level, even if Bitcoin gets to $200,000 (a level it will not get to earlier than 2028 (2x)). Is that riches? No. That's why we should stop being bigots, especially when advising people to invest in it.

Some are trying to go in and make a profit in the short term, whereas others, more knowledgeable, just buy, hodl, and forget about the rest.

And that is completely okay, because everything invested in BTC, in the long term, is going to get profit. Not a life change, but still.

[Stablexcoin]

People prioritize the potential benefits they are to get from bitcoin than anything they would need to hear or know about bitcoin. And so they neglect the risk aspect which is a complimentary part of any investment assets to which bitcoin isn't different. Because there's no investment with a risk. Their ignorance from not learning about the risk aspect makes them lack the technical know-how to navigate through and what right decisions to take at bad market periods after they have invested base on the only the positive of bitcoin they're aware of.

The risk in BTC investment is the smallest one out there, though it's still appropriate to remember about it , it's also important not to fear of what is possible with BTC.

If we compare the risk of other cryptocurrencies you are very correct because unlike altcoins bitcoin is less volatile asset and has over the years proven to be trusted asset to bank on for as long as the investor can be able to hodl on to. But nevertheless, having a comprehensive knowledge on both ends about bitcoin can be much helpful for a newbie investors in knowing how to take advantage of bad markets (dips) instead of expressing fears.

Depending on some altcoins, Bitcoin can be highly volatile to some, on the same note, Bitcoin has not sunk helplessly in volatility, refusing to recover after some short or long period. Bitcoin does not need much compilation, if anyone takes the opportunity to hodl Bitcoin at whatever instance, neglecting price fluctuations then unfailingly nothing to be scared about, Bitcoin will ascertain a new price better than when the assets were acquired.

Bitcoin can make you rich depending on your records, for those who had earlier bought Bitcoin when the price was $10K, will be making more profits than those who bought at $80K, depending on your definition of rich requires a larger amount of funds invested and how long Bitcoin is held.

[Pandorak]

The risk in BTC investment is the smallest one out there, though it's still appropriate to remember about it , it's also important not to fear of what is possible with BTC.

Risk will always exist in every moment of life, not only investment but business risks in real life may be greater than the risk of BTC investment, what needs to be understood is how to minimize the risk as little as possible and how to get the maximum profit in investment. the main key is knowledge, because with knowledge we can create profit and loss scenarios, strategies in investment, understanding of the potential of the assets we buy so as to foster confidence in their potential and benefits in the future, this can open up opportunities for maximum profit.

[Mpamaegbu]

...because I was in a Bar taking some bottles...

You've to slow down on the green bottles until mass adoption is achieved 🙈

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.

The advice should cut across, it shouldn't be on Bitcoin alone. Everything investment should come with that caveat and I want to believe members here should be the wiser for it to not persuade others to invest without letting them know that, "it's not a financial advice" after suggesting any investment to them. People like to blame others when things go wrong. When things turn well, most of them hardly show gratitude.

[osasshem]

When it comes to investment, it is being said when giving investment ideas, at the end, they should know that any decision they take during or after the discussion period is at their own risk, and that it is not financially advisable, cause when situations like this comes up at the end of the day, the adviser goes with a negative tag as the woman in this situation has said she has been brainwashed.

IMO, people like this woman who invested into Bitcoin at the peak price and the market faced the opposite direction are people who are likely to fall into scam and jump into ponzi scheme, and end up losing money of value. It is good for anyone who has the mind of venturing into any form of investment to take time and make personal research, and this research should be on more search of the downsides, if he/she can manage it when it comes, cause every business has good side (profits) so as the bad side (loses). When these two sides are balanced, then he/she is ready to go in with any amount desired.

I will blame the woman who introduced her to Bitcoin a little, because she only gave the positive and good sides that follows Bitcoin, and not showing a little of the bad side.

[Mindyspace]

Many people think they will get rich quickly by investing in Bitcoin, but the reality is quite different. It goes up and down all the time, and if you enter expecting a quick profit, you may end up disappointed. The best thing to do is to study, understand the risks and invest calmly, because easy comes, easy goes... unfortunately. 

[Baki202]

People prioritize the potential benefits they are to get from bitcoin than anything they would need to hear or know about bitcoin. And so they neglect the risk aspect which is a complimentary part of any investment assets to which bitcoin isn't different. Because there's no investment with a risk. Their ignorance from not learning about the risk aspect makes them lack the technical know-how to navigate through and what right decisions to take at bad market periods after they have invested base on the only the positive of bitcoin they're aware of.

People are more interested in the benefits because they want money, and another thing is that when you look at it, bitcoin is meant to give profit. Still, the issue now is that people dont want to even learn all they care about at that moment is how they will jump on the investment. The next thing will be that you learn about the project before any other thing because without having the right knowledge, nothing works well more, and the fact that that they are neglecting the risk just makes everything very hard at the end of the day for them because they dont even know how to keep track of things, the moment you are involved makes you more to want to learn more because if you dont then you not ready to grow because people that have taking that part have already taking thing more serious that is why they are getting the figues they are getting.

[bubilas]

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.

It seems to me that the surest way to quarrel with friends or relatives or colleagues is to start telling them about cryptocurrencies only in a positive way. And if you are a person who enjoys authority among them, then, of course, they will try to invest, perhaps someone will take the money that he needs for life instead of taking extra.
And when these people first learn what a loss or drawdown is due to a price drop that they cannot foresee, then these people will definitely go to the one who invited them to cryptocurrencies, so I completely agree that we need to talk about the negative sides of Bitcoin.

[peter0425]

The media does as per what the governments want them. Good news in times of high prices and bad news during the stagnant times like at present.

Well of course they will report on what’s happening currently but sometimes media is biased than even during high prices, they will rarely report on it but during bad times that’s when they will keep milking the story.

No one should think that bitcoin is a cult and is being inorganically being inflated in price for suckers to buy at high.

Who would even be controlling us if we were a cult? We are a community yes but I doubt we have things that make up what a cult is.

[Ethan_Crypto]

Bitcoin is not a get rich quick scheme, so everyone needs to be educated about how Bitcoin works before onboarding.