Bitcoin Can Take You From Poor to Rich and Rich to Poor.

[Shineup]

Bitcoin doesn't destroy fortune, if you put a fortune on Bitcoin five years ago you will be in profit by now, Bitcoin preserves and increases your fortune over time than many asset globally.

Even if a rich person takes a loan to invest in Bitcoin with time they will be in profit, although you should not be borrowing to invest in a asset as volatile as Bitcoin and a rich man should not be borrowing to invest in Bitcoin and if they do it will very likely be a long term loan.

It is the choices you make in Bitcoin that can take you from poor to rich and rich to poor.

I was going to say you should not borrow to invest in BTC because it is volatile regardless of your financial status, you can make a loss and profit both. Market doesn't care if you are rich or poor, but if a rich person can bear the interest rate while BTC drops by 50% and takes time, then the rich might pay the interest rate but the poor might not, so that's why we should not borrow money if our financial situation is not stable.

If I have to choose from two options like borrowing for investing and borrowing for trading, I will say trading is even riskier. I said this point needs discussion, and I have been in a place like this one before, when someone asked for money and he said he wanted to trade, and I had to refuse because I knew he was a newbie. He thought he understood the market while it was just a bull run.

BTC can change anyone's financial status, it all depends on what decisions we make.

Borrowing to invest is not completely wrong, it is all based on your intentions of how you are going to pay back the loan, if you intend on paying back through profits that will be gotten from the investment then is completely a bad one and not what should be considered at all, profit making is not guaranteed in the long term let alone in the short term and I doubt if there are such loan terms and conditions that will be waiting much longer time enough until you made profit from your investment, but on the occasion that you are aware of the risk involvement of the investment, and other plans are on ground to repay your loan outside your investment then I don't see anything wrong borrowing to invest in Bitcoin because you can sort your self out, but for those who want to rely on their bitcoin investment to repay the loan, they made the wrong decision.

[Asuspawer09]

I mean this is all going to goes down to dicipline, since Bitcoin gives a huge opportunity to a lot of investors to make money, It is just important to remember how it is all done in a patient way.

People who already made a huge amount of money for sure might desire even more money, they might get into a bigger number if you ask me, they already have a funds to do everything just like you said like leverage trading, I mean it is just norma thing for people to do that, since you earning and taking profits you could already afford to lose much more than before, but I guess this is just a problem of getting greedy since they might forget how patient they are in the past because they are not chasing the huge money.

It goes both ways since even at your lowest you might just stay there if you are not doing the right thing and not getting patient, and you might not stay on top if you are getting greedy.

[AYOBA]

I don't support trading but I won't be against it cause everyone has their choice, while some want to make money with Bitcoin through patience, some want it very quick and don't mind the risk, it's their problem cause they'll face the consequences of chasing quick money with Bitcoin and if it favours them which is very tough then it's their luck. I'll always advise that people follow the proven way of making wealth with Bitcoin, it doesn't come quick but if they can be patient then there's hope that they'll be wealthy through it cause Bitcoin favours longterm holder more.

That’s just the fact everyone has his own choice and that’s why some people go to the one they knows it can favour them, although that the trading is very risks which is why they choose the Bitcoin investment than trading. It’s truth but one thing about it is that, there’s some people who said that the trading is involve of so much risks and even if they choose to invest in Bitcoin they still don’t get what they don’t want from the market, and what cause all this is base on how some chasing money they just want to make it by false by fire; whereby everything in life need to be in a gradual way but lack of patience won’t allow most people to be endured.

[Ab de villiers]

That is true but not just with bitcoins. If you do not have control over your mind, any asset can take you on the ride from being poor to rich and poor again. Bitcoins have a huge potential to make us earn profits but with that potential, also comes the risk. If we are not ready to take that risk, we can only imagine staying away from such assets. Early adopters were the ones to get rich really fast because they believed in the future. A few of those might be poor again but majority of them are not millionaires living a wealthy life.

Anywhere we earn fast money, the chances of losing that money in a fraction would always remain constant. That's the reason why aged people prefer earning slow but stable money instead of chasing something like bitcoin. Bitcoins are meant for risk-takers.

Having control of your mind and making decisions at the right time always have a great influence on life and its ups and downs. For people who want to have success, it's going to be all about their own way of how they work and have their things managed. It's not only bitcoin in every field, if these rules are implemented, anyone could become rich to poor and poor to rich frequently, just one good decision and one bad decision can bring all of this to happen. Peoples those are always make good strategy and also have enough way of staying on their good level always have good success they never fall down and face issues but peoples those always done wrong decisions and their mind is also not good in taking decisions faced enough problems and stays poor or if they are rich enough they surely going to be end poor due to their own weakness.

[Mate2237]

To build wealth from Bitcoin there are lots of things that you have to put into consideration, you cannot just move from poor to rich just because you invested in Bitcoin. There are people that have gained a lot from Bitcoin investment over the years but what happens next in 10 years time is what actually matters, it is sustainability over short term results. If it was that easy to from from poor to rich with Bitcoin a lot of people would have made a lot of money from it.


Without having psychological discipline there's no way you can actually make money through Bitcoin investment, this investment entails a lot of consistency and patience, it is easier said than done until when you actually start making an investment and realize how difficult it is. Bitcoin doesn't just automatically takes anyone from rich to poor, there are structures that must be followed to achieve this.

[Localhostspeed]

To build wealth from Bitcoin there are lots of things that you have to put into consideration, you cannot just move from poor to rich just because you invested in Bitcoin. There are people that have gained a lot from Bitcoin investment over the years but what happens next in 10 years time is what actually matters, it is sustainability over short term results. If it was that easy to from from poor to rich with Bitcoin a lot of people would have made a lot of money from it.

There is no short cut to wealth, not anywhere. If you try to do so, there is always a price to pay. Most people that have lose money to crypto investment mostly were looking for quick money and altcoins dunk their investment. The people that have made Bitcoin investment and are in wealth today have it because they were patience and didn't sell, that's the price you pay for holding Bitcoin. Anyone that hold Bitcoin today and are rich were patience.

Without having psychological discipline there's no way you can actually make money through Bitcoin investment, this investment entails a lot of consistency and patience, it is easier said than done until when you actually start making an investment and realize how difficult it is. Bitcoin doesn't just automatically takes anyone from rich to poor, there are structures that must be followed to achieve this.

May be this is applicable in some parts. I don't think there is any complications about making wealth with Bitcoin. The rule is simple, buy from exchange, withdraw to personal wallet and hold. If you plan to do DCA, stick with that and if to have one time plan on Bitcoin investment, buy it and do the necessary. However, there is no quick profits like before, you have to remove that mindset of quick money from Bitcoin.

[OcTradism]

There is no short cut to wealth, not anywhere. If you try to do so, there is always a price to pay. Most people that have lose money to crypto investment mostly were looking for quick money and altcoins dunk their investment. The people that have made Bitcoin investment and are in wealth today have it because they were patience and didn't sell, that's the price you pay for holding Bitcoin. Anyone that hold Bitcoin today and are rich were patience.

Investment is a very good way for people who are not rich to accumulate their wealth and change their financial lives to become the rich in the future. They of course will have to do intelligent investment by choosing good assets such as in cryptocurrency market, choosing Bitcoin will give them a safest investment portfolio.

If they decide to invest but do it wrongly such as spending money for shitcoins, they will very likely not get richer but actually get poorer, even bankrupted.

May be this is applicable in some parts. I don't think there is any complications about making wealth with Bitcoin. The rule is simple, buy from exchange, withdraw to personal wallet and hold. If you plan to do DCA, stick with that and if to have one time plan on Bitcoin investment, buy it and do the necessary. However, there is no quick profits like before, you have to remove that mindset of quick money from Bitcoin.

DCA is a classic investment strategy and it works well for strong assets like Bitcoin. DCA can be used for accumulation but also for take profit with time.

https://costavg.com/
https://bitcoindata.science/withdrawal-strategy