Bitcoin is not about getting rich fast, do People agree?

[Yablee0]

Yet the truth is that the get rich quick mentality is still out there. Especially among the young, there is more pressure, less jobs, more responsibilities. So they look for shortcuts.

You are very correct when you said the get rich mentality is still there and it will still be very difficult to slide off because the rate of poor living is still at the higher side, many people are still living from hand to mouth, no good job or any easy means of earning something tangible, therefore  people will continue seeing Bitcoin as an easy way of climbing to the top and that will still not work because Bitcoin can't work that way.

However, Bitcoin only pays the patients once, the people that are consistent in their accumulations, the braves and willing to take the risk involved and that's it no two way about it no magic.

Actually since I started doing this Bitcoin stuff for some times now I have come to understand and learn so many things in life that has contributed immensely to my everyday life. Stuffs like cur discipline, risk taking, bankroll management strategy, consistency in all I do, understanding the importance of privacy, being security concious and many more. Furthermore, to me Bitcoin innovation wasn't just a means of attaining financial freedom but also a way of protecting my funds from inflation so any person that choose that path (Bitcoin) have actually done himself a life time favour.

[Hardyrobust]

 It is definitely good to have a basic idea of what bitcoin is before starting to invest. Having a good knowledge of bitcoin will kill the perception of seeing it as a means of getting rich quick.
Those that have the mindset that they can make quick profit from bitcoin are often the people that do gamble with bitcoin with the hope of making profit. However bitcoin doesn't reward those that lack patience but those that are persistent with there bitcoin investment.

[Qhunman]

However, Bitcoin only pays the patients once, the people that are consistent in their accumulations, the braves and willing to take the risk involved and that's it no two way about it no magic.

It is better we accumulate bitcoin consistently or we may not accumulate large amount of bitcoin. There are no shortcuts rather  consistency and  commitments pays off over the long term. Consistency, patience and long term commitments are the primary keys to a successful bitcoin investments. It would seem as a joke if they think they can succeed without the aforementioned qualities in bitcoin investment. Investors should stop seeking quicker ways to succeed in bitcoin,to me there are none.

[Queen uloma]

At first Many people believed that Bitcoin was a quick way to make quick money, especially when they come across some investors that made huge profit, lately many people now understand that bitcoin isn't a get rich quick scheme, since Bitcoin market is volatile, anyone that enters it without having proper knowledge of it may end up disappointed anytime the prices dropped, Bitcoin doesn't reward short-term investment but it only reward long-term investment and protect your finances.Bitcoin doesn't just grow overnight it requires patience, knowledge and discipline.

[Proty]

At first Many people believed that Bitcoin was a quick way to make quick money, especially when they come across some investors that made huge profit, lately many people now understand that bitcoin isn't a get rich quick scheme, since Bitcoin market is volatile, anyone that enters it without having proper knowledge of it may end up disappointed anytime the prices dropped, Bitcoin doesn't reward short-term investment but it only reward long-term investment and protect your finances.Bitcoin doesn't just grow overnight it requires patience, knowledge and discipline.

consistency is very important in building a good portfolio in bitcoin. As you have rightly said bitcoin investment isn't a get rich quick scheme. Most people enter into bitcoin investment with this mindset and this pushes them to make the mistake of investing with money that they are supposed to used for there expenses. Bitcoin investment only rewards those that are patient and consistent in buying and holding bitcoin for a long term.

[Big Dirams]

At first Many people believed that Bitcoin was a quick way to make quick money, especially when they come across some investors that made huge profit, lately many people now understand that bitcoin isn't a get rich quick scheme, since Bitcoin market is volatile, anyone that enters it without having proper knowledge of it may end up disappointed anytime the prices dropped, Bitcoin doesn't reward short-term investment but it only reward long-term investment and protect your finances.Bitcoin doesn't just grow overnight it requires patience, knowledge and discipline.

consistency is very important in building a good portfolio in bitcoin. As you have rightly said bitcoin investment isn't a get rich quick scheme. Most people enter into bitcoin investment with this mindset and this pushes them to make the mistake of investing with money that they are supposed to used for there expenses. Bitcoin investment only rewards those that are patient and consistent in buying and holding bitcoin for a long term.

Yeah sure consistency does helps when it comes to investing because we can keep on track with our holdings and see if we are making progress or we might be facing little trouble and problems. With the help of consistency one can equally stay disciplined and stay committed to their plans and strategies which is a smart idea.
 As a investor we shouldn’t have the quick money mindset because such mindset is not always welcome in the cryptocurrency space nor is it appropriate at all, when such mindset is being implemented it always results  into regrets and disappointment so let have plans and trust the process for the market to do it thing and reach our goals and objectives.

[ruykeri]

consistency is very important in building a good portfolio in bitcoin. As you have rightly said bitcoin investment isn't a get rich quick scheme. Most people enter into bitcoin investment with this mindset and this pushes them to make the mistake of investing with money that they are supposed to used for there expenses. Bitcoin investment only rewards those that are patient and consistent in buying and holding bitcoin for a long term.

The point you are making is consistency, which is the backbone of Bitcoin investing. Most people go in with a get rich quick mentality, and that is where the most common mistake starts, investing with their spending money. Then when the price drops a little, they get stressed because they needed that money. they are forced to sell at a low price, and then feel sad when they see that price are going up again . Bitcoin rewards those who survive, but with patience and discipline. Consistency does not mean that you have to buy every day. Consistency means that you have set an amount that you can realistically continue to invest, and that the system will not break in the market fluctuations. This is why discretionary income is so important, which is what is left after all  basic expenses. Investing money for necessary expenses means pushing yourself into  a forced selling in future.

So start small, buy regularly, have a backup fund so you don't have to sell Bitcoin if unexpected moment , and let time do its work. Only those who get these three things right can actually build a stack in the long run and that's when the portfolio becomes strong.

[Ishicryptic]

In my personal opinion, many people are now beginning to understand that Bitcoin is not magic. It takes time, it teaches, and rewards those who can survive. The conversation is slowly shifting. From Getting Rich Quick to The Rich Future. And that's where the true value of Bitcoin is.

Due to the economic hardship in the country a lot of people started to see Bitcoin as a means to get rich quick and as a result scammers took advantage of their ignorance to steal from them. The fact is that Bitcoin is not a magic coin that can make people become rich overnight, it is a long term asset which you have to hold in most cases for a very long term before you can get profit from it. Bitcoin investment is for patient investors who have what it takes to buy, hold and be patient for many years before they can start to count real returns on their investments.

If you don't have money to survive with during your DCA period it means that you might not be able to focus and consistently buy and hodl for many years because you will sell to survive financially. If you look at it critically you will understand that Bitcoin investment is not for everybody, those who don't have discretionary funds cannot afford to do DCA method. This will show you that Bitcoin is not about getting rich fast, you need to have a source of income that is surficient for you before you can think of investing in it and getting rich in the future.

[DPHOR]

In my personal opinion, many people are now beginning to understand that Bitcoin is not magic. It takes time, it teaches, and rewards those who can survive. The conversation is slowly shifting. From Getting Rich Quick to The Rich Future. And that's where the true value of Bitcoin is.

The more the day passes by the more people understand the purpose of Bitcoin, although it was originally created for investments but due to its value people are now becoming more stringent with their holdings and do not want to, careless use them for transportation rather it's now an investment tools or a safe heaven where they could just store their value and have the returns in the nearest future. Initially, people do not really know that Bitcoin is real due to their experiences from other online investments and they now have this perspective and notation toward Bitcoin that it's more of investment tools than a transactional assets it was originally creating for.

[iBaba]

It is definitely good to have a basic idea of what bitcoin is before starting to invest. Having a good knowledge of bitcoin will kill the perception of seeing it as a means of getting rich quick.
Those that have the mindset that they can make quick profit from bitcoin are often the people that do gamble with bitcoin with the hope of making profit. However bitcoin doesn't reward those that lack patience but those that are persistent with there bitcoin investment.

You are right. wrong knowledge brings about lack of understanding and it could also discourage you from taking certain steps towards bettering your chances. Your chances of investing in the first place but what I’ve come to believe about investment in bitcoin and other crypto is that you do not have to accumulate a huge amount of knowledge or understanding before you start investing. You just need the very basic knowledge of how to invest and you will learn the rest during the process. The ultimate knowledge of bitcoin investment is practical an experience based.

[Pablo-wood]

There is this saying the higher the risk, the higher the profit. Bitcoin is a cool path to getting rich quick if the resource is available to invest. It is a game of how many coin you have in your portfolio. As long as the goal is long term and the profit margin is realistic then fast profit on a long term goal is achievable. If a bull run is missed there is no room for panic because more are yet to come and the next highs exceeds the previous one by larger margins.

[cxtreenal]

It is definitely good to have a basic idea of what bitcoin is before starting to invest. Having a good knowledge of bitcoin will kill the perception of seeing it as a means of getting rich quick.
Those that have the mindset that they can make quick profit from bitcoin are often the people that do gamble with bitcoin with the hope of making profit. However bitcoin doesn't reward those that lack patience but those that are persistent with there bitcoin investment.

Surely. I think most Bitcoin investors initially know that Bitcoin does not work well in the short term, they plan for the long term. One of the easiest investment processes in the world is through the DCA method. Surprisingly even if a person has no assets he can start investing in Bitcoin and accumulate Bitcoin consistently and he can become a successful bitcoiner. It is important for that person to have a source of discretionary income/discretionary fund, as well as other elements needed to continue accumulating Bitcoin for the long term, such as having emergency funds available. Above all you need to keep your financial situation smooth and consider Bitcoin accumulation as a regular part of your life.

[Tmoonz]

There is this saying the higher the risk, the higher the profit. Bitcoin is a cool path to getting rich quick if the resource is available to invest. It is a game of how many coin you have in your portfolio. As long as the goal is long term and the profit margin is realistic then fast profit on a long term goal is achievable. If a bull run is missed there is no room for panic because more are yet to come and the next highs exceeds the previous one by larger margins.

Your statements are kind of contradictory, Bitcoin is never a cool path way through which anyone can get rich quick, it is misleading to say that Bitcoin is a quick money opportunity this is because it may likely not go up when you are eagerly expecting it to go up, Bitcoin is volatile and very unpredictable anyone coming to Bitcoin with the mindset of getting rich quick will be disappointed, all the focus should be on the long term which you don't know how long it can be, this can help manage your funds emotions of the market volatility.

[Achalugo BTC]

It is definitely good to have a basic idea of what bitcoin is before starting to invest. Having a good knowledge of bitcoin will kill the perception of seeing it as a means of getting rich quick.
Those that have the mindset that they can make quick profit from bitcoin are often the people that do gamble with bitcoin with the hope of making profit. However bitcoin doesn't reward those that lack patience but those that are persistent with there bitcoin investment.

Absolutely right, yeah Bitcoin help in building financial status but its not something that one needs to take to heart to be what will make them rich quickly, because it takes time and patience for one to actually achieve their success and also be able to avert the losses due to how unpredictable the market is, which is crucial for people to first of all have the basic knowledge and the understanding of what they are dealing with, so that the market will not take them unaware by leaving them in a shattered way.

[Josefjix]

There is this saying the higher the risk, the higher the profit. Bitcoin is a cool path to getting rich quick if the resource is available to invest. It is a game of how many coin you have in your portfolio. As long as the goal is long term and the profit margin is realistic then fast profit on a long term goal is achievable. If a bull run is missed there is no room for panic because more are yet to come and the next highs exceeds the previous one by larger margins.

I tell people, for a successful investment in Bitcoin, it's not the value, it's the quantity of Bitcoin you could grab while the price is at at low, grab this opportunity like say your life depends on it and bag as much quantity you can because there must come a day when new ATH price will come as long as the ecosystem still active.

It's better to be attending of increasing the quantity than waiting for the price increase of Bitcoin increase the value of the old quantity you have.

[Achalugo BTC]

It is true that bitcoin is not about getting rich fast. But with patients and believe you will see better life with bitcoin investment bitcoin is always reward the patient ones this is a major sign that bitcoin is going to continue to favour then. And not those that see it as a get rich scheme. And it take time to accumulate and hold. Only those that are patient can actually wait until they make profit before selling it.when it come to bitcoin investment just know and understand that you can not get money from it because it take time to accumulate

Many investors make the mistake of thinking that they can make it better and bigger through investing Bitcoin by attempting to outsmart the market but they forget that Bitcoin mostly rewards patience and consistency as far as Bitcoin investment is concerned. Bitcoin isn’t just some get rich quick scheme that people can just go into today and in a little while they’re already making it big in. It requires patience, and also discipline, and that’s why some people would say investing in bitcoin is impossible and most of the times some of them quit or diversify to altcoins which initially is often more dangerous on it own.

[Mr_Brilliant$]

It is definitely good to have a basic idea of what bitcoin is before starting to invest. Having a good knowledge of bitcoin will kill the perception of seeing it as a means of getting rich quick.
Those that have the mindset that they can make quick profit from bitcoin are often the people that do gamble with bitcoin with the hope of making profit. However bitcoin doesn't reward those that lack patience but those that are persistent with there bitcoin investment.

Na just the truth be that, person wey understand Bitcoin well nor go dey run am with get rich quick mindset..  Most times na people wey nor really know how the whole thing dey work dey rush come inside because dem see price dey pump..

Truth be say, Bitcoin dey reward patience pass anything..  If person dey consistent and get long term mindset, e dey easier to hold even when market dey shake small..  But people wey dey treat am like gamble go always dey chase quick profit, and most times na there dem dey end up losing…

[Yeesha]

It is definitely good to have a basic idea of what bitcoin is before starting to invest. Having a good knowledge of bitcoin will kill the perception of seeing it as a means of getting rich quick.
Those that have the mindset that they can make quick profit from bitcoin are often the people that do gamble with bitcoin with the hope of making profit. However bitcoin doesn't reward those that lack patience but those that are persistent with there bitcoin investment.

That's the most important thing, when it comes to bitcoin investment, bitcoin requires a lot of knowledge, understanding and preparation. Bitcoin is not a get rich immediately thing, it requires proper planning and patience to in order to experience the best side of bitcoin. It requires contentment, commitment, and dedication in order for you to know your determination and achieve success. Hard work always pays no matter how little the price may be, you don't have to underestimate or underrate your ability and capability because that is exactly where failure start. Don't be afraid to take a step, because that single step can lead to multiple successes.

[POPOLUV]

I totally agree with you that Bitcoin is not about getting rich fast and if go through our Naija Novice Hangout {Newbies introduction & Orientation} Thread you will understand that so newbies or jr.member couldn't continue because they taught Bitcoin is ponzi scheme that they will just invest into and the next minutes or days they will start cashing out profits, it is very good that we should emphasize more to newbies that Bitcoin is in not about getting rich fast or overnight before even joining the forum, because every investors that is still pushing consistently no matter the fluctuation of Bitcoin price currently in the market that Bitcoin takes a longer time which requires our patience to all our investments to run for a long term to be able to gather much profits in future.

[Somto9Light]

It is definitely good to have a basic idea of what bitcoin is before starting to invest. Having a good knowledge of bitcoin will kill the perception of seeing it as a means of getting rich quick.
Those that have the mindset that they can make quick profit from bitcoin are often the people that do gamble with bitcoin with the hope of making profit. However bitcoin doesn't reward those that lack patience but those that are persistent with there bitcoin investment.

When it comes to bitcoin investment, mindset is everything, the investor’s mindset determines their approach. When you have the right mindset and perception about bitcoin, then you’ll most likely develop the right approach to it, which is a long term approach, it’s only those who don’t really understand bitcoin that often see short term opportunities in Bitcoin investment and just like you rightly said, they often end up indulging in gambling rather than actually investing in bitcoin.