[The reality check] : What do newbies need to hear today?

[m2017]

There is so much noise on social media right now, and a lot of beginners are coming into crypto with wrong expectations and dangerous FOMO.

Then, before starting to invest, beginners should form the right expectations and set achievable goals.

How and where to do this? Search this forum for information.

Tell me: If a complete newbie joins the forum today with $100, what is the #1 brutal truth they need to hear to survive the noise and avoid 99% of the scams?

If you want to invest (your 100$), then buy bitcoin (ignore everything else).

Over time, as you gain experience, you might be able to expand your investment portfolio.

[d5000]

Brutal truths I think are useful:

- There is nothing guaranteed. Not even the positive Bitcoin long term trend.
- There is no such a thing like pre-programmed scarcity. Scarcity is determined by supply and demand. If Bitcoin isn't adopted by the people, it will go to zero, even if the 21 million limit stays in place.
- Bitcoin is a social system. The way the community communicates matters. Simply believing that it "can only succeed" is wishful thinking.
- 99% of all altcoins are borderline or outright scams, including some of the top 10. They are created to enrich their founders. Check the tokenomics (and don't be surprised by the extremely high number of coins the founders reserved for themselves).
- If an altcoin project claims it solved a technological problem - most of the time other altcoins and even Bitcoin can adopt that solution as well.
- NYKNYC. Seriously.

[rat03gopoh]

You won't get rich with $100, but you can expect that $100 to be free from control other than your own.

[HashRate Hero]

@m2017 ;  @d5000it trying different means 

You won't get rich with $100, but you can expect that $100 to be free from control other than your own.

The reality and thanks for your Transparency and honesty !   SELF CONTROL IS THE KEY 

[Taskford]

Brutal truths I think are useful:

- There is nothing guaranteed. Not even the positive Bitcoin long term trend.
- There is no such a thing like pre-programmed scarcity. Scarcity is determined by supply and demand. If Bitcoin isn't adopted by the people, it will go to zero, even if the 21 million limit stays in place.
- Bitcoin is a social system. The way the community communicates matters. Simply believing that it "can only succeed" is wishful thinking.
- 99% of all altcoins are borderline or outright scams, including some of the top 10. They are created to enrich their founders. Check the tokenomics (and don't be surprised by the extremely high number of coins the founders reserved for themselves).
- If an altcoin project claims it solved a technological problem - most of the time other altcoins and even Bitcoin can adopt that solution as well.
- NYKNYC. Seriously.

The first mistake made by those newbies is they think that there's guaranteed profit to get if they invest their money on Bitcoin. The other one is for thinking that they can earn passive income with it if they trade or either invest on short term investment programs like ponzi schemes.

If we also talk about scarcity this will only became a big deal or matters. If majority of global population will adapt Bitcoin, if there's nothing like that and Bitcoin will get a low demand in future. That 21 million overall supply will became meaningless.

People need to help themselves became well educated about Bitcoin, so that they will not fall on blind belief of those people try to manipulate and take advantage on their innocence.

Lots of altcoins are scam and just been created to make their creators rich. If they look at their tokenomics, for sure that they would see how big the supply the team hides. Also even if they claim that their project will became a breakthrough on cryptocurrency scene, lots of them fail and with their failure many investors lost their money.

Also yeah its good for newbies to consider that keyword which is not your keys, not your coins since this will help them realize that they should not trust those third party platform to hold their money. Due to high risk of scams.

[d5000]

The first mistake made by those newbies is they think that there's guaranteed profit to get if they invest their money on Bitcoin.

What I woud like to add here is that the probability for profit isn't exactly low in my opinion. Bitcoin is still an opportunity, this wasn't meant to scare away newbies.

But there is nothing totally safe. And scenarios where Bitcoin sees a similar fate than Ethereum, with no new ATHs, are not unrealistic if adoption outside of the "speculation" use case stays slow.

There is another related brutal truth:

Even with high adoption there will be eventually a ceiling for the Bitcoin price, it will stabilize when everybody who needs Bitcoin has already bought the share they wanted. This means that the latecomers will not make profit anymore in real terms.

I guess this ceiling is much higher than $100,000. But it could be lower as a million.

But if the adoption means that Bitcoin will continue to be used, both as a currency and store of value, this means that Bitcoin in this phase will still probably be a good protection against inflation. It's also not guaranteed, because as I said demand matters, but the supply cap at least means that with stable demand the price and purchasing power of BTC will also be stable.