People Are Now Entering Bitcoin for Quick Profits Instead of Financial Freedom.

[SuperBitMan]

Bitcoin na something way dem create as a decentralized form of money, way Dey allow people to control their wealth without hoping on any bank, the government or anybody.
A lot of people way been enter bitcoin investment or way been adopt bitcoin those days way en start newly been adopt am because of financial freedom or sovereignty and a long term wealth preservation.

But if you check today some of this new beginners way dey invest or adopt bitcoin their main purpose now na just to make quick money or profit.

When bitcoin been blow up for en price, na so everywhere for social media na about bitcoin discussion and them Dey talk about bitcoin price predictions, trading signals and stories of people way con Dey very rich through bitcoin.
During that time many people buy bitcoin without them understanding how bitcoin Dey work, en purpose and the responsibility way follow for person way get bitcoin.

Funny enough some of this people way adopt bitcoin because Dey won make quick money, Dey often panic and sell all their bitcoin when bitcoin price fall or dip, thereby missing that long term benefit way bitcoin Dey design to bring.

Now Bitcoin success for investment done really overshadow bitcoin purpose as a tool for financial freedom.

[Donk1]

​I personally believe that no one can make quick profit from bitcoin and let's not even talk about shit coins out there. Basically, it's highly impossible. Those that buy when the price of bitcoin is high are just beginners with no knowledge of how the technology works, and immediately it falls they sell everything off.

 To me that's more like gambling with your funds. If you know you don't have the right psychology then it's not advisable to invest for your own safety, because you will only be taking a big risk. That said don't ever get influenced by what you hear always do your own research. That's just the secret to being a crypto enthusiast. That's

[Princess Leah]

 It's not something that's new cause when you talk about quick profits it's directed to traders cause they're the ones known for taking profits too early and we all know that trading has been ongoing long before now even before people began to realise that Bitcoin is an asset with the potential of financial freedom on the long run.

 Well, like I used to say, "everyone has a choice". While some choose to risk their coin for quick profits others choose to hold it longer and remain patient to get better reward, we can keep advising people to follow the less riskier option but no matter how we do that some people would still make their choice and risk trading.

[Agbamoni]

Well, like I used to say, "everyone has a choice". While some choose to risk their coin for quick profits others choose to hold it longer and remain patient to get better reward, we can keep advising people to follow the less riskier option but no matter how we do that some people would still make their choice and risk trading.

Everyone has a choice to make, and I am keen on respecting their decisions. Taking profit is never a wrong decision. It is a decision for someone who dont want to stay longer in the investment. But a lot of you guys who have the mentality that long-term profit is the best do conclude that anyone who is not making a similar decision with you guys is on the wrong path. Bitcoin isn't all about the long term after all. What you put in Bitcoin will determine what you will get in return.

[knowngunman]

The problem is lack of understanding. Many people jump into Bitcoin thinking it's just like a platform to make money not knowing bitcoin itself na money.

Na social media influencers dey mislead so many of newbies. The hype bitcoin in the wrong way making newbies believe it can make them rich overnight. Unfortunately, even some old people in this industry never read the Bitcoin white paper, they jump in because of hype.

Although, there's nothing wrong with wanting profit but the good part of it is that bitcoin doesn't reward you based on FOMO, but it rewards people who are patience.

[Doan9269]

That we have the intention to adopt bitcoin does not mean we should only becausecentrated on one benefit, there are some other things that you serve as advantage to us for adopting this Bitcoin, such could be the financial freedom you mention earlier, the profitability, lesser cross boarder transaction fee, control over financial assets and so many other advantages that make us to live in centralized financial economy to solid depend on a decentralized network with blockchain technology and bitcoin is the final solution to the destination we are heading to.

[Moreno233]

We will always try our best to teach people the best way to go about Bitcoin but despite those efforts, people will always chose what to do with their money and how they want to approach the market. There are people that does not believe in holding Bitcoin, not that they don't trust Bitcoin but they don't just have the motivation to endure the volatility of the market, hence they prefer to enter the market and leave as quickly as possible. We cannot force them to change their approach, so let them justify their liberty, some of them will learn from experience and begin to do the right thing.

[Yorubek]

It is normal for every person to have a different perspective on Bitcoin some invest with a long-term plan and some invest with the hope of making quick money. Most people buy Bitcoin with the hope of making profit, but there may be a small number of people who have chosen Bitcoin only for financial freedom. It is not bad to withdraw profit through investment, but it is very important to gain proper knowledge about Bitcoin before starting investment it is not right to choose Bitcoin just in the hope of making extra profit without knowing or understanding anything. If we have proper knowledge about Bitcoin, we will not be disappointed quickly as a result of investment, we will be able to hold Bitcoin in the long term and enjoy all the benefits from Bitcoin in the future.

[Big Dirams]

Bitcoin na something way dem create as a decentralized form of money, way Dey allow people to control their wealth without hoping on any bank, the government or anybody.
A lot of people way been enter bitcoin investment or way been adopt bitcoin those days way en start newly been adopt am because of financial freedom or sovereignty and a long term wealth preservation.

But if you check today some of this new beginners way dey invest or adopt bitcoin their main purpose now na just to make quick money or profit.

When bitcoin been blow up for en price, na so everywhere for social media na about bitcoin discussion and them Dey talk about bitcoin price predictions, trading signals and stories of people way con Dey very rich through bitcoin.
During that time many people buy bitcoin without them understanding how bitcoin Dey work, en purpose and the responsibility way follow for person way get bitcoin.

Funny enough some of this people way adopt bitcoin because Dey won make quick money, Dey often panic and sell all their bitcoin when bitcoin price fall or dip, thereby missing that long term benefit way bitcoin Dey design to bring.

Now Bitcoin success for investment done really overshadow bitcoin purpose as a tool for financial freedom.

The mindset new investors takes to bitcoin investment now is just the profits mindset and such mindset won’t take us anywhere.  As a new bitcoin investor let focus on way to build our long term growth with bitcoin and plan on securing the future with bitcoin not the short term gains.

Let not prioritize quick profits at all or chase after the gains let focus on holding for long period of time so we could see the high value of bitcoin. And short term profits chase will always get us frustrated because we will always be in watch of the Market price but with long term we would be free from all this trauma.

[Finebone]

But if you check today some of this new beginners way dey invest or adopt bitcoin their main purpose now na just to make quick money or profit.

My brother, the truth be say our country don too hard, and no be everybody gets that luxury of time to buy and hold for ten years upward, so na because of that most of these guys dy find wetin go give them quick money. I know say quick profit is not the best way to make real wealth through Bitcoin, but due to how job dy scarce for we country, I no just wan blame anybody again because people just need something wey go fit give them quick money wey them go use guide for the time being.

[Cossyblack]

It's not something that's new cause when you talk about quick profits it's directed to traders cause they're the ones known for taking profits too early and we all know that trading has been ongoing long before now even before people began to realise that Bitcoin is an asset with the potential of financial freedom on the long run.

 Well, like I used to say, "everyone has a choice". While some choose to risk their coin for quick profits others choose to hold it longer and remain patient to get better reward, we can keep advising people to follow the less riskier option but no matter how we do that some people would still make their choice and risk trading.

Everything about bitcoin is a risk be it trading or investment it is left for people to choose the risk they can manage. If they chose to trade it's at their own risk and there's not wrong with it but just that trading is riskier that is why we are advised to trade with money we are willing to lose because they are no guaranteed. In my perspective,I would rather chose to invest for the long term as it's more profitable and less risky han trading, everyone mustn't make same choices as some person may still chose trading over investment.

[JoyceBTC]

​I personally believe that no one can make quick profit from bitcoin and let's not even talk about shit coins out there. Basically, it's highly impossible. Those that buy when the price of bitcoin is high are just beginners with no knowledge of how the technology works, and immediately it falls they sell everything off.

You are wrong, some people do not have the time to hold bitcoin what they do is to target when the price is down a bit then buy but once they realize that there is an increase in the price they sell everything off to make the profit which is to them quick profit. Traders are also into quick profit making once they target a good entery point to buy if they get to their desired target they sell and take profit very fast.

Making quick profit is also possible in some shitcoins some people have tried the risk and end up making profit many haa also lost. For the quick profit mindset, they invest once they coins is pumping and when they have an increase in the amount they spent to buy they sell off to make profit they do not hold such coins to avoid losing everything when the coins will crash.

[ColdLava40]

Now Bitcoin success for investment done really overshadow bitcoin purpose as a tool for financial freedom.

People are no longer interested in the depth purpose of Bitcoin. ETFs investors are a perfect example.

More new investors are becoming too upsets with how much they could make from Bitcoin investment, they focus too much on what price is doing or what it will do I the next couple of days or months.

Some don't even know the short story about Bitcoin, though it's not needed. But it helps you understand how to stay strong during uncertain market conditions. Making quick profits from the market is not always possible you have to exercise patience.

[Nathrixxx]

Bitcoin is designed to serve on many purposes as long as it applies to us on different aspect of the financial economy, we have to discover on many areas that can be made applicable to the use of Bitcoin, because we are meant to be profitable with our interest to invest in Bitcoin and also adopt it as a means of holding our assets, things we have discovered that there are a lot of opportunities to get from bitcoin when we consider it as an asset or a profitable investment, which fiat cannot serve the same benefits for us.

[Yablee0]

My brother, the truth be say our country don too hard, and no be everybody gets that luxury of time to buy and hold for ten years upward, so na because of that most of these guys dy find wetin go give them quick money. I know say quick profit is not the best way to make real wealth through Bitcoin, but due to how job dy scarce for we country, I no just wan blame anybody again because people just need something wey go fit give them quick money wey them go use guide for the time being.

Bro no be lie you talk but even as that, that isn't enough reason any person should gamble with the little he would have use in taking care of himself at least for that moment. The fact is that Bitcoin investment is mostly for long term plan even though some dudes likely want to try if they can actually risk out something they can manage for the main time but it's not that advisable because you can lost everything along the line if not careful.

The problem is lack of understanding. Many people jump into Bitcoin thinking it's just like a platform to make money not knowing bitcoin itself na money.

Na social media influencers dey mislead so many of newbies. The hype bitcoin in the wrong way making newbies believe it can make them rich overnight. Unfortunately, even some old people in this industry never read the Bitcoin white paper, they jump in because of hype.

You're correct, most of them misinterpret the whole concept of Bitcoin to be a get rich schemes and maybe thinking they can easily manipulate their way around it. As a matter of fact Bitcoin only rewards those that are ready to wait for a long time of about 5-10 time and not those that want it fast. However, those that are looking for a possible means of making something fast then it's certainly not Bitcoin, maybe they can try any other shit coin that's more reliable and it should be what they can afford to lose because if it is Bitcoin investment they're thinking of then they might be getting it all wrong because Bitcoin investment only rewards those that can hold strong.

[Sammye3]

Its a personal preference, more like when people gamble for quick profits rather than aiming for financial freedom. You could be getting daily accumulative profits and that is totally fine, not everyone has the patience to hold bitcoin for long term.

Bitcoin does not guarantee financial freedom, it just feels easier to be profitable when you are looking at long term, but there are profitable scalpers and short term traders too. But it is best advised to look at long term for better stable profits than risking your assets for short term movements.

[Mayor of ogba]

A lot of people way been enter bitcoin investment or way been adopt bitcoin those days way en start newly been adopt am because of financial freedom or sovereignty and a long term wealth preservation.

Did you carry out a questionnaire which shows that a lot of people who adopt bitcoin early did that because of financial freedom? Even in the early days of bitcoin people have been adopting bitcoin for quick or short term profits because there are a lot of track record of people who sold their bitcoin of quick or short term profits. It's even now that more people are adopting bitcoin for financial freedom because they have been exposed to bitcoin and they now know what they could stand to gain if they hold bitcoin for a long time.

[Frankolala]

Anyone wey invest because of FOMO go end up in losses because e no understand wetin dey happen for the cryptospace Na follow follow e do. The truth be say majority of new investors wey don dey buy bitcoin nowadays even big companies and government na because of profits make them dey buy no be because of say them one use am as tool wey Satoshi create am for. Me, I dey buy my bitcoin to hodli for future profits.

[Fiatless]

Bitcoin does more than one thing for me. What this means is that I use Bitcoin for more than one function. Truth be told, I am using Bitcoin first as an investment, So my target is to buy at a cheap price and sell when the price has increased. It is also noteworthy that I invest in Bitcoin with a long-term goal. Bitcoin also serves as a means to keep my financial information private. Your account officer or bank teller knows how much you own in the bank. But with Bitcoin you could conceal millions of Naira and nobody will know that you own such an amount.

In summary, most people are into Bitcoin today because of the profit. But those who want to use Bitcoin investment as a Ponzi or get rich quick scheme will be disappointed. Bitcoin traders could trade in the market, but they must have basic to professional skills before they can make profit.

[Obari]

There is a saying I saw on the forum some time ago that "volatility is satoshis gift to long term holder" and what this simply means is that, in bitcoin, patience is truly  a virtue.
A lot of people buy bitcoin because of FOMO(Fear Of Missing Out) and still end up panic selling because they couldn't bear the pains of losing and believe that, they rather sell when they're still seeing something reasonable rather than watching their accounts getting blown and I think most of these newbie investors think holding is trading and maybe think that by holding for much more longer, they might get liquidated which isn't right to me because as long as button isn't dropping to zero, no matter when and the price you invested, your account isn't supposed to drop to zero as long as bitcoins price isn't at zero.