Why Newcomers Still Treat Bitcoin Like a Get-Rich-Quick Scheme?

[Nathrixxx]

It's only about the mentality they are having, if the expectation is set right, then we may not finds many with the expectation that bitcoin should appear to them the same way they are having the random ponzi schemes, also, we should not in our own capacity contributed to the failure some may have through misinformation, because everything we do to engage others have effects on how they see it or what they expect from it.

[Mpamaegbu]

Am I wrong?

No, you aren't wrong. I think those who have that type of mindset will depend on who mentioned Bitcoin to them and what they told them concerning it. If their mentors or influencers told them they would become rich by investing in Bitcoin, I bet they would definitely trust them doing that. Until reality sets in and they find out that even among roses there are thorns. There were a few stories back then when I newly joined this space of those who committed suicide because their Bitcoin investments with sour. There are no guarantees on this industry.

[buwaytress]

Maybe because people who talk about it loudest are speculators? Maybe it's just me but it's almost impossible to hear about new conversations about Bitcoin now based on anything other than its price. Even right here on this sub.

Personally, I'm still trying to get over how someone I'd known about a while who used to talk about Bitcoin no longer cares. Used to be how amazing it was, the culture and the people... now it's all... damn it's going down and all that nonsense about markets.

[Cryptomultiplier]

Am I wrong?

No, you aren't wrong. I think those who have that type of mindset will depend on who mentioned Bitcoin to them and what they told them concerning it. If their mentors or influencers told them they would become rich by investing in Bitcoin, I bet they would definitely trust them doing that. Until reality sets in and they find out that even among roses there are thorns. There were a few stories back then when I newly joined this space of those who committed suicide because their Bitcoin investments with sour. There are no guarantees on this industry.

I lost some Bitcoin too at the initial stage along with others who thought it would be as easy to just invest in it and make profit. Many mentors did the introduction to BTC, it was interesting but wasn't a sweet experience of loss having involved funds.

It took some research and experience to understand that it is unwise to trade BTC on the open market, it is a wiser choice to HODL BTC for a decade to get the maximum return which would amount to millions thus making one wealthy, it is also wise to know how to keep your wallet and information safer from scammers and hackers and the best part is knowing how to buy BTC when the price is too high or too low to get a good vote of confidence.

[HONDACD125]

I think this is not true anymore because when I was a newbie still am but learned many things, so when I was a newbie, I did not know I would become rich quickly if I bought bitcoin because I thought the price of bitcoin is already very high even at that point.

Now it is almost 3x or 4x of that price and how come these newcomers can think they can be rich by just investing in bitcoin? They definitely know more; they are not amateurs who can't make sense out of this simple logic.

Am I wrong?

You say they definitely know more, but I wonder how they would think of Bitcoin as a get-rich-quick scheme if they knew more. So it's simple; they lack knowledge and understanding of Bitcoin and this market as a whole, which is why they think this way, and have very high expectations with Bitcoin. I would also partly blame those who know this thing but still keep saying that if you make an investment in Bitcoin right now you will have your life changed after a decade or so but that's not entirely true because Bitcoin is not going to be worth a billion dollars after a decade.

Seniors need to guide their juniors correctly and make their doubts cleared so that they don't have unrealistic expectations from Bitcoin and this market, because usually those who have unrealistic expectations out of a lack of knowledge, they tend to invest more money than they should either in Bitcoin or other cryptocurrencies, and then lose their money and start blaming cryptocurrencies for ruining their lives and eating up their savings.

[hyudien]

I know there are still beginners who expect to get rich quickly from bitcoin, for example in the area where I live, but not all beginners have thoughts like that, it depends on who teaches them, and usually beginners with high expectations like that put bitcoin the same as Altcoin which is a mistake, meaning Altcoin is still possible to go up to 1000x but for bitcoin, expecting such high multiplication at the current price is very difficult, it might even take a dozen years to reach 100x the current price.
It's just a matter of mindset and knowledge.

[batang_bitcoin]

I think this is not true anymore because when I was a newbie still am but learned many things, so when I was a newbie, I did not know I would become rich quickly if I bought bitcoin because I thought the price of bitcoin is already very high even at that point.

That's good for you but there's still a stigma about people upon hearing that someone owns a bitcoin even if they're just few mbtcs, they're all rich already.

Now it is almost 3x or 4x of that price and how come these newcomers can think they can be rich by just investing in bitcoin? They definitely know more; they are not amateurs who can't make sense out of this simple logic.

Am I wrong?

You're not wrong with your experience per se, it is that many people still haven't learned what bitcoin actually is. They also only hear the success stories of people who have invested in Bitcoin and made themselves wealthy about it. All they look is with the results and not with the process of how hard it is to continue holding even when the market drops a lot.

[Wiwo]

I think this is not true anymore because when I was a newbie still am but learned many things, so when I was a newbie, I did not know I would become rich quickly if I bought bitcoin because I thought the price of bitcoin is already very high even at that point.

Now it is almost 3x or 4x of that price and how come these newcomers can think they can be rich by just investing in bitcoin? They definitely know more; they are not amateurs who can't make sense out of this simple logic.

Am I wrong?

The question os not in why newbies thinks that bitcoin is a get rich quick scheme,  but more or less of bitcoin is truly a get rich quick tool, the answer can be both yes and No at the same times since some people actually get rich quick by gambling wirh the price of Bitcoin and being lucky to hit the right market direction that got them the desired profits.

This are those trading the leverage future market, only those class of people thinks thay bitcoin is a get rich quick scheme.

But the real investors knows the realities that comes with bitcoin investment and at that give time for things to materialise considering bitcoin current market value, that is why there is need for long term invest in bitcoin.

[Strongkored]

To answer the title, it's because they're misinformed, and even though they've researched various sources and found the correct information, their brains have already become more inclined to believe that Bitcoin promises quick riches.
That's why investing in Bitcoin requires logic, without logic, we can easily be fooled by misinformation.

[Pandorak]

This is where knowledge becomes important, because with knowledge we can understand opportunities and the right mindset.

On the other hand, mentors or motivators that we often see or have also play an important role in shaping our mindset. If you often see mentors who only show the short-term results of futures trading, then your first thought will definitely be that this is the fastest way to get rich, and many people do this without considering the risks.

In contrast, those who view Bitcoin from a different perspective realise that Bitcoin is not merely an asset to be used as a tool for profit, but that it has greater potential and benefits than that. They also learn about the history of Bitcoin's creation, its purpose, and its fundamentals, which makes them not only like it but love it.

[Fivestar4everMVP]

I think this is not true anymore because when I was a newbie still am but learned many things, so when I was a newbie, I did not know I would become rich quickly if I bought bitcoin because I thought the price of bitcoin is already very high even at that point.

Now it is almost 3x or 4x of that price and how come these newcomers can think they can be rich by just investing in bitcoin? They definitely know more; they are not amateurs who can't make sense out of this simple logic.

Am I wrong?

It all depends on the type of newbie, a newbie who can afford to buy up to 1 to 2 bitcoins in one purchase is already rich, but can become richer with bitcoin if they will learn to trade it the right way.

But the newbie who is poor and wanting to become rich over night buying just $10 worth of bitcoin sats monthly or perhaps weekly is just wasting his or her time.. Bitcoin has gone past that time when $10 worth, even a $1000 worth, could go a long way in changing a person's life short term.
Right now, those buying bitcoin worth as much as $10,000, $20,000 and up to $30k $35k $40k will have to apply lots of patience to really make any life changing profit from the investment, otherwise, they are just going to be selling for peanuts profit that can't even buy a bicycle 🚲 let alone buying a house or car.

[casey15]

I do think why people still gave wrong mentality about Bitcoin is because of the orientation they have been given by who ever introduced them to Bitcoin.
Proper knowledge is important and the fact that everybody on social media is now an expert, misinformation can easily spread and most 'guru' sell fakes dreams to these newbie.. no that these dreams cannot be attained but the timeframe, the things to be done are not usually pointed out so they know the journey aren't as easy as it seems.
Still this mindset make people invest in haste without doing research about market conditions, what a bear or a bull market is all about and how to position themselves so not to be liquidated.

[ColdLava40]

I think this is not true anymore 
Am I wrong?

I feel it depends on the time of your investment.You probably bought bitcoin at a price before the bullish movement in early 2025. Bitcoin did really well last year and that might be contradicting a lot of views.

Bitcoin still remains not a get rich quick scheme. If you bought at a lower price level before we hit the $100 k you were just lucky to some extent.

There were people who bought at $10k and experienced the crash in 2021. They held strong and had it at the back of their mind that bitcoin wasn't a get rich quick scheme but an investment that would yield over a long term..

[Faisal2202]

Now it is almost 3x or 4x of that price and how come these newcomers can think they can be rich by just investing in bitcoin? They definitely know more; they are not amateurs who can't make sense out of this simple logic.

I can't agree more, because if anyone still thinking they can get rich quick if they buy btc now they are wrong, but if they think they can get rich but not quick they are not wrong. Actually for so long the market has followed the same patterns but everytime it felt different but if we see as a whole not into the deep, we will realize patterns feels like different but they remained the same and in future can't be said for sure.

Means, these newbies think the market will repeat which it will but the ones who still think they can get the same kind of profits some old investor made who bought in early days then they are living a lie.

[Ivystar5]

coming into bitcoin world with a testimonial from someone who become rich through bitcoin can leave newbies thinking that such person if made a role model they can do exactly what he did by just merely investing in bitcoin but what they forget is that at the point where the person in questions (investor) started his investment the price was relatively low but in due time it's now like today. So the profit margins can't be the this much high however I think you all should clear that from your minds and take bitcoin for what it is and give it more years to be well profitable.

[nakamura12]

It's probably due to its volatility and because of that they will think that they will earn more if they found an opportunity so when a scammer said the same thing then they will get scammed due to greed I guess. Anyway, who wouldn't want to earn more money especially when you don't have to do physical labor?. So, once they get scammed or quite some time has passed then they will know that it's not a get rich quick scheme.

[Joy_learns_crypto]

I think this is not true anymore because when I was a newbie still am but learned many things, so when I was a newbie, I did not know I would become rich quickly if I bought bitcoin because I thought the price of bitcoin is already very high even at that point.

Now it is almost 3x or 4x of that price and how come these newcomers can think they can be rich by just investing in bitcoin? They definitely know more; they are not amateurs who can't make sense out of this simple logic.

Am I wrong?

Yes you are wrong, newbies are amateurs some can have better knowledge about finances and investment but a newbie is an amateur.
Some newbies can think that bitcoin is a get rich quick scheme but when they grow from being a newbie and an amateur they will know that bitcoin isn’t a get rich quick scheme but.
If newbies can unlearn and study then they will grow from being an amateur.

[Onyeeze]

I think this is not true anymore because when I was a newbie still am but learned many things, so when I was a newbie, I did not know I would become rich quickly if I bought bitcoin because I thought the price of bitcoin is already very high even at that point.

Now it is almost 3x or 4x of that price and how come these newcomers can think they can be rich by just investing in bitcoin? They definitely know more; they are not amateurs who can't make sense out of this simple logic.

Am I wrong?

bitcoin cannot make you to be rich immediately but we that involve ourselves in Bitcoin investment misunderstands such Concepts that bitcoin cannot make us to be rich immediately so investing in Bitcoin is good but do not hope or do not have a mind that investing in Bitcoin will make you to be out of poverty or it will get you Rich as possible as you think, so that is capital lie from my understanding what we need to understand in bitcoin investment is that it is a something that give a profit gradually because not every time that the price of Bitcoin always increase it increases and also decreases so if you don't have patient you cannot make a profit that will make you Rich in Bitcoin investment

[CryptoHeadlineNews]

I think this is not true anymore because when I was a newbie still am but learned many things, so when I was a newbie, I did not know I would become rich quickly if I bought bitcoin because I thought the price of bitcoin is already very high even at that point.

Now it is almost 3x or 4x of that price and how come these newcomers can think they can be rich by just investing in bitcoin? They definitely know more; they are not amateurs who can't make sense out of this simple logic.

Am I wrong?

The worst mistake any newbie can make is trying to treat Bitcoin as a Get-Rich-Quick scheme, because in the real sense, it's absolutely not a get rich quick scheme. But rather an investment asset that could offer you a more profits potential in a long term scenario, and possibly get you rich, but not quick, but around next 20yrs to 50yrs, depending on the quantity of Bitcoin you are holding. Because Bitcoin is far better than money kept in our traditional banking system whereby it's value likewise to depreciate in the market value as a result of inflation and poor monetary policies. So,  my sincere advice to newbies will be to accumulate as much Bitcoin as possible, rather than planning to get rich quick from it. Because it's never possible.

[Zoomic]

I think this is not true anymore because when I was a newbie still am but learned many things, so when I was a newbie, I did not know I would become rich quickly if I bought bitcoin because I thought the price of bitcoin is already very high even at that point.

Now it is almost 3x or 4x of that price and how come these newcomers can think they can be rich by just investing in bitcoin? They definitely know more; they are not amateurs who can't make sense out of this simple logic.

Am I wrong?

It seems that I have found it difficult to understand your post. Do you mean that bitcoin has made you so rich even as you joined late. Because according to your post, you said that you did not know that bitcoin will make you to be so rich. So, do you mean that before you moved from newbie to member rank, bitcoin has already made 3x or 4x. That is very nice to know...

Bitcoin has passed the stage that it will make someone so rich by buying very small portion of it. If you want to be very rich through Bitcoin, you have to buy a large portion of it. Otherwise buy as you can with the DCA method and everything will fall in place on the long run. We should learn to play the long term game.