The Dangers of Quick Money Mentality to Our Bitcoin investment

[Joeboy]

A whole lot of folks myself included has at one point or the other participated in one money doubling or quick money scheme, or even some telegram investment that promises a double of their investment fundz in 24 hrs. And coz of dat experiencee a whole lot havs brought that mentality into Bitcoin investment, thinking that Bitcoin is just another update in making sharp sharp moneey.

But here is the truth, having such a mentality leads to panicking, restlessness, difficulty in controlling ones emotion , having unplanned huge losses etc. Bitcoin is and never will be a shortcut to wealth. It is rather that process or let me say scheme that rewards those who are patient, consistent and then have a long term mindset (, 4-10yrs+). But most new investors with that quick money mentalityz  care less about that part, they are more concerned with investing today and cashing out the following week/month. And anytime they experience dips they panick and sell at a loss and when the price bounces up again, they begin to regret.

To properly secure and grow one's Bitcoinn holdings, it is mandatory that every Bitcoiners separate Bitcoin from those ponzi scheme mindset they grew up seeing, and then treat it as a long-term journey, rather than a lottery ticket.

[Silverstonez]

This is the aspect where most people who don't understand bitcoin getting it wrongly, they think bitcoin is get rich quick scheme, that's why you see that some people will just put money today in bitcoin and expect maybe in the next 24 to 48 hours the money will double, they are approaching bitcoin with the wrong mindset and they will end up selling off their bitcoin from the beginning stage of accumulation and in lost do to panic, because they have invested money they can't afford to loose. Bitcoin is best approach with long term mindset, if you really want to profit from it, Just be consistent in accumulating bitcoin with your leftover money applying the DCA method and hold for long term. Bitcoin has already proven to be a store of value with potential returns so no need to panic when the price goes down, because it will definitely increase with time.

[Marykeller]

The very cause of this, why some people see Bitcoin as another type of get rich scheme, na the orientation given to them by those wey introduced them for Bitcoin investment.

If we spread out the right orientation given to those we tell about Bitcoin, I believe this thought of Bitcoin as get rich scheme would be far from newbies thought.

I can't tell a newbie sae, Bitcoin is a long term investment plan, em come d take am for short term. That wouldn't happen because I have at first told him or her that Bitcoin for long term. That's what he or her would grab, taking Bitcoin for long term.

[BIT-BENDER]

Bitcoin can be seen as a get rich adventure but Bitcoin is not a get rich QUICK project. Any get rich QUICK scheme is questionable in my opinion. People wants the short cut so bad that when you start properly explaining Bitcoin without making it look like a get rich QUICK scheme their attention is on a low gauge.
If you ask me it is quicker to go broke than to go rich, it takes a while to put a building to stand but quick to drop an down. Enjoy the Bitcoin adventure.

[Nathrixxx]

Bitcoin is not like the ponzi schemes that scares people away from investment with, so we should not come with the expectation of having a quick returns from it, except we are being lucky to have this coming more earlier than we expected, we have to learn on how we could invest, waitk for it to grow and yield almost it's kind of more before we could take or get something from it.

[Mia Chloe]

A whole lot of folks myself included has at one point or the other participated in one money doubling or quick money scheme, or even some telegram investment that promises a double of their investment fundz in 24 hrs. And coz of dat experiencee a whole lot havs brought that mentality into Bitcoin investment, thinking that Bitcoin is just another update in making sharp sharp moneey.

To an extent , you arguably have to scammed first to be able to understand how scam works. To an extent also, I think those people who still till date see bitcoin as a money flipping glitch isn't a 100% their fault. You'll discover that these days , a majority of the information we have readily available on the internet are scams and misleading ones. It takes some level of sorting to get a valid and proper information.

For someone willing to invest in or venture something, regardless of if it's bitcoin , other cryptocurrencies or not it's very important that you actually take your time to do a proper research else you'll eventually have yourself to blame in the end.

[Faazs]

A whole lot of folks myself included has at one point or the other participated in one money doubling or quick money scheme, or even some telegram investment that promises a double of their investment fundz in 24 hrs. And coz of dat experiencee a whole lot havs brought that mentality into Bitcoin investment, thinking that Bitcoin is just another update in making sharp sharp moneey.

To an extent , you arguably have to scammed first to be able to understand how scam works. To an extent also, I think those people who still till date see bitcoin as a money flipping glitch isn't a 100% their fault. You'll discover that these days , a majority of the information we have readily available on the internet are scams and misleading ones. It takes some level of sorting to get a valid and proper information.

For someone willing to invest in or venture something, regardless of if it's bitcoin , other cryptocurrencies or not it's very important that you actually take your time to do a proper research else you'll eventually have yourself to blame in the end.

You have said it all, many people fall victim to scams not necessarily because they are careless, but because scammers are smart enough to exploit what their targets don’t know. These fraudsters understand that ignorance and the desire for quick profit make investors easy prey. They present flashy promises, fake testimonials, and unrealistic returns, knowing that many won’t bother to verify before jumping in.

In today’s online space, misleading information spreads faster than the truth, and this creates a perfect breeding ground for scams. That’s why proper research is not optional, it’s a necessity. Anyone planning to invest in Bitcoin, other cryptocurrencies, or any opportunity at all must take time to study, question, and confirm details before committing funds.

Scammers only succeed when investors let ignorance lead the way. Knowledge and patience remain the strongest tools for avoiding traps in this fast-moving digital world.

[Chinesebaby]

To properly secure and grow one's Bitcoinn holdings, it is mandatory that every Bitcoiners separate Bitcoin from those ponzi scheme mindset they grew up seeing, and then treat it as a long-term journey, rather than a lottery ticket.

For me, I also think it's even very good people operate Bitcoin investment with a ponzi scheme mentality. Because tell me, who among us hasn't lost money to any of the related ponzi scheme that ever occurred in this our country Nigeria, ranging from the era of MMM, Twinkas and Givers Forum e.t.c. Because I'm 100% many of us have lost money in several ponzi schemes, and imagine if all those lost money were invested in Bitcoin 5 to 8yrs ago, I'm pretty sure we all would have been 5 times richer than we are today. Hence, bringing me to the conclusion that just as we were able to invest in ponzi scheme and the money got lost and we couldn't have access to it, if only we can attach that same mentality to invest in Bitcoin and pretend the money has been lost and you can't have access to it in the next 10yrz from now, you will truly appreciate ever making such brilliant decisions. Because it is actually never late to invest in Bitcoin.

[fredericktaylor]

It is not possible to make money quickly by investing in Bitcoin. There are many new investors who think that it is possible to get rich quickly by investing in Bitcoin in the short term. Investing in Bitcoin with this mentality is not the right decision at all. In order to properly manage your investment in Bitcoin, it is very important for a person to have basic knowledge as well as prudent earning. If you want to get something good in the long term by investing in Bitcoin, it is very important to invest consistently for the long term. The price of Bitcoin fluctuates rapidly, so by investing in small amounts regularly, you can reduce the risk and reach a specific goal. You have to manage your long-term investment in Bitcoin with patience and wait for the right time, and by investing with this mentality, you can expect profits in the future.

[Gost ms]

A whole lot of folks myself included has at one point or the other participated in one money doubling or quick money scheme, or even some telegram investment that promises a double of their investment fundz in 24 hrs. And coz of dat experiencee a whole lot havs brought that mentality into Bitcoin investment, thinking that Bitcoin is just another update in making sharp sharp moneey.

But here is the truth, having such a mentality leads to panicking, restlessness, difficulty in controlling ones emotion , having unplanned huge losses etc. Bitcoin is and never will be a shortcut to wealth. It is rather that process or let me say scheme that rewards those who are patient, consistent and then have a long term mindset (, 4-10yrs+). But most new investors with that quick money mentalityz  care less about that part, they are more concerned with investing today and cashing out the following week/month. And anytime they experience dips they panick and sell at a loss and when the price bounces up again, they begin to regret.

To properly secure and grow one's Bitcoinn holdings, it is mandatory that every Bitcoiners separate Bitcoin from those ponzi scheme mindset they grew up seeing, and then treat it as a long-term journey, rather than a lottery ticket.

If a person invests in Bitcoin with the mindset that he will get rich very quickly, then he will definitely face losses after a few days and sell his holdings. For example, when he sees a fall in the market, he will get very scared and may sell his holdings. A person should always keep the mindset of investing in a long-term way. Because the risk of losing money in long-term investments is very low.

A short-term investor often does not plan, or is worried about selling his holdings. Because there are many risks in short-term investments, due to which the risk of losing his money is very high. .Again, when the market falls, he gets scared and sells his holdings, due to which he regrets a lot later.

[CryptoGirl_200x]

To properly secure and grow one's Bitcoinn holdings, it is mandatory that every Bitcoiners separate Bitcoin from those ponzi scheme mindset they grew up seeing, and then treat it as a long-term journey, rather than a lottery ticket.

Every thing you have said is absolutely correct, most Nigerians have gotten used to quick quick money that today, those who are investing In bitcoin find it hard to focus, they want the same quick quick money just same way we all saw during the time of mmm and other ponzi schemes..

What many of them do not realize is that when it comes to making money online, there are different methods, and all of this different methods have their different mechanics, because one make money quickly from pnozi schemes doesn't not mean it should be so with bitcoin investment as well,  this is what many are having difficulty realizing and it's doing them more harm than good.

[ruykeri]

Everyone should understand one simple thing that no one can ever get rich very quickly. No matter the business, job, investment, the more you think about making a lot of profit from it, the more hard work and patience you have to be. In the case of Bitcoin, what is different from all other investments is that the profit here depends on time, patience and proper investment. If you want to get rich quickly in Bitcoin, the risk will be high and the possibility of loss will increase. For example, if we look at the Bitcoin market this year, it can be understood that the price of Bitcoin has not become much higher or much lower. So if someone invests in Bitcoin for 6 months or 1 year and wants to become very rich from there, it will not be good for him. Because the real profit of Bitcoin can be seen after investing for at least 4 years.. So try to do regular DCA and keep the mentality of long-term holding.

[Shineup]

Bitcoin can be seen as a get rich adventure but Bitcoin is not a get rich QUICK project. Any get rich QUICK scheme is questionable in my opinion. People wants the short cut so bad that when you start properly explaining Bitcoin without making it look like a get rich QUICK scheme their attention is on a low gauge.
If you ask me it is quicker to go broke than to go rich, it takes a while to put a building to stand but quick to drop an down. Enjoy the Bitcoin adventure.

This part is where people make mistakes, they ignore asking this question though I have fallen in this category before and now I know better, nothing good will really come that easy, I have been scammed as a result of chasing quick money it is called ponzi scheme, our interest is always the money to get and we pay less attention on the possibilities of getting this money, every good thing must go through processes and more likely to work with patients which I see as a virtue even in Bitcoin investment, long term perspective will bring good ride of the Bitcoin adventure.

[Callido]

To properly secure and grow one's Bitcoinn holdings, it is mandatory that every Bitcoiners separate Bitcoin from those ponzi scheme mindset they grew up seeing, and then treat it as a long-term journey, rather than a lottery ticket.

Spot the difference, Bitcoin is Bitcoin alone, Altcoins are Altcoins but as well populated with Shitcoins. Both should have different mentality when dealing with anyone of them. Bitcoin can be both long term and short term depending on one's perspective and viewpoint. We have the short term traders and long term investors, if you're going for the short term that means your profits are obtained from small price movements and susceptible to quick fall while long term investors careless about quick movements but focu on long term achievements.