Getting rich or Financial jailbreak?

[m2017]

We all know that bitcoin isn't really a get-rich-quick scheme,

But the majority (public opinion) believes that this is precisely the case.

but we can also agree that entering bitcoin is all about getting rich after years of trading and investing.

Yes, exactly. In the public consciousness, cryptocurrencies are now closely linked to finance and the economy. First and foremost.

It can be a slow process of wealth creation, but the idea of getting rich with bitcoin is always there.

Well, investments are usually a slow process. Bitcoin won't necessarily make you rich, but at the very least, it helps you avoid losing what you have to inflation and preserves your current value. That in itself is already quite good.

But for a lot of us here, my question is, is bitcoin all about getting rich or its one way escaping the system that has been setting us an authority to make us controlled and secretly manipulated? Your different points of view are highly welcome.

I believe the "value proposition" of bitcoin plays a key role - at least for the majority of users (for whom the idea of ​​"breaking free from the traditional financial system and achieving independence" is something abstract and remote). However, there is a segment of users for whom financial freedom is significant; for them, bitcoin offers a way to "shake off" an intrusive, greedy intermediary that tries to control everything (KYC, transaction tracking, local transaction limits, etc.). I wouldn't venture to say exactly what percentage of the total user base falls into this category, but I suspect it isn't very large.

While in the early days of bitcoin, practically every user was a cypherpunk, their numbers have since been "diluted" within the general mass of users who view bitcoin merely as a financial instrument for getting rich.

In reality, bitcoin has no inherent essence. We, the users, are the ones who "imbue" this crypto asset with meaning through our usage, each in our own way. To some, it is a digital "gold bar" for a rainy day; to others, it represents "financial freedom" - the ability to manage one's assets however one pleases, limited only by the boundaries of the planet (at least until Musk colonizes Mars ).

[Obulis]

We all know that bitcoin isn't really a get-rich-quick scheme, but we can also agree that entering bitcoin is all about getting rich after years of trading and investing. It can be a slow process of wealth creation, but the idea of getting rich with bitcoin is always there.

But for a lot of us here, my question is, is bitcoin all about getting rich or its one way escaping the system that has been setting us an authority to make us controlled and secretly manipulated? Your different points of view are highly welcome.

When you access mostly riches and rich people, it's usually not an immediate or overnight venture, a certain long time is usually part of the effort required (patience). And even when so much money comes too quick mostly to an average or poor person, keeping this money as in becoming rich will require time.

Bitcoin is actually a long-term money making asset and when you invest, it's not without the hope of profiting from the funds you had put into Bitcoin. The only thing here is not being carried away with quick gains to manage the probable uncontrollable loses that are usually part of trading the medium of quick gains in Bitcoin.
On this, a deep look into the question "if Bitcoin is all about getting rich or it's one way of escaping the system that has been manipulating us", you will see that they're both mutually inclusive. So for everyone, it is either both or one is true.

[FinneysTrueVision]

Reading you response really got me thinking if there was ever a time getting access to bitcoin was much easier than fait most especially when bitcoin was at its early age, However, I’m not doubting your claim, but I’m just wondering how that could be possible when we all have being in this captivity of fiat and the traditional banking system all together.

A big focus among early bitcoiners was on trying to promote BTC to communities that were considered unbanked or underbanked. It might seem like a small amount as a percent of the total population, but there are certainly millions of people whose circumstances do not permit them to easily open a bank account and transact in fiat. When most of my income was from Bitcoin and crypto, I had even less of a reason to use a bank account or apps like PayPal.

[Donk1]

Well, true Bitcoin might not be all about getting rich that's what most folks might say , but if you calculate the global scale of value, then you'd know everything is measured in how much it's worth, when and how. To me I like to believe that the aim of every Bitcoin enthusiast when it comes to Bitcoin is more like a goal, a purpose or its ultimate utility. If Bitcoin wasn't a store of value, then it would just be another bank that is decentralized, and folks would be like, It's too risky and it's not worth it,especially if a person was to lose their seed phrase, since there is no customer service to call folks had probably considered that as a downside. That said Bitcoin is considered unique but still we often have to look at what is driving it, then what it offers before we start mentioning the risk and why it's all worth it. Still store of value or not, most folks would have probably made use of Bitcoin though, but global adoption wouldn't have been like it is now. That's all........

[Z-tight]

if you aren't weak and buy when blood is all over the charts, your money could easily double in just a year.

Yeah that's my point. If you stick with the right strategy and perfect timing in the market, you will definitely maximize your profits and end up getting rich. It isn't a matter of who's early to invest and who's not, but if you know how to adopt the mindset of those whales, and be those diamond hands in the crypto market, the chances of getting rich is undeniably high.

It sure does matter when you invested in BTC, especially if you bought in early. And i wouldn't also compare whales who have bottomless pockets, with normal retail investors. Like i already stated, the amount of money available to you would determine how large your ROI is going to be, and if we can actually talk about getting rich through it.

So, let's say BTC pumps 500% from its bear market low to its peak all time high, and since it is a cyclical network, that would take ~ 4 years. Now someone who invested $50m and another who bought for $500 in the bear low would both see their portfolio rise at the same %, but there is a huge gap in their returns in $.

[Bitcoin_people]

We all know that bitcoin isn't really a get-rich-quick scheme, but we can also agree that entering bitcoin is all about getting rich after years of trading and investing. It can be a slow process of wealth creation, but the idea of getting rich with bitcoin is always there.

But for a lot of us here, my question is, is bitcoin all about getting rich or its one way escaping the system that has been setting us an authority to make us controlled and secretly manipulated? Your different points of view are highly welcome.

We know that it is possible to get rich from Bitcoin but it is not quick but it can be done through long-term investment and trading. When a person invests in Bitcoin with the intention of getting rich quickly, they fall into the trap because they should not only think about making profits but also maintain a sense of discipline. Of course, if you want to invest, the main purpose should be to create wealth so that in the future you can benefit a lot from Bitcoin and improve your finances. Bitcoin is not just about getting rich but it is a system where your privacy and financial freedom are combined, and you are in complete control of Bitcoin. So I think that besides just benefiting financially from Bitcoin, it also serves more important purposes.

[Catenaccio]

We know that it is possible to get rich from Bitcoin but it is not quick but it can be done through long-term investment and trading. When a person invests in Bitcoin with the intention of getting rich quickly, they fall into the trap because they should not only think about making profits but also maintain a sense of discipline.

People like that will dislike investment that takes them more time, or they can start with investment but change to trading later. While we know that between investment and trading, trading is more risky and traders have very high failure rates with trading so if they change from initial investment to trading, they might lose most of their capital.

Investment is quite safe and profitable but as all things, there are conditions to invest successfully and get profit.
- Invest with own money.
- Don't borrow money for investment.
- Don't use leverage.
- Always have other capital parts for regular bills and emergency funds.
- Know fundamentals of Bitcoin market from market cycle to psychological cycle.
- Know good investment strategy like Dollar Cost Averaging.
Then do right practice, maintain good discipline, investment will bring profit in long term.

[Grease5000]

We all know that bitcoin isn't really a get-rich-quick scheme, but we can also agree that entering bitcoin is all about getting rich after years of trading and investing. It can be a slow process of wealth creation, but the idea of getting rich with bitcoin is always there.

But for a lot of us here, my question is, is bitcoin all about getting rich or its one way escaping the system that has been setting us an authority to make us controlled and secretly manipulated? Your different points of view are highly welcome.

I think the getting rich part is where many people miss the bigger picture. Because if bitcoin was only about becoming rich, then there would be no difference between bitcoin and any other asset people buy hoping for a higher price.

For me, one of the things that  makes bitcoin different to me is the ability to own and transfer value without needing permission from a central authority. It no doubt that the price matters, especially for long term investors, but I don't see it as the only reason to hold it.

And I would not  say that  bitcoin is simply about escaping a central authority either. Because most of us still live and transact within the existing financial system. For me, it is more about having an alternative and having some control over my own money.

By doing so if the price makes me wealthier over time that is a welcome outcome,  But for me the monetary properties and the freedom to hold my own asset are what make bitcoin worth paying attention to in the first place.

[MisFoxie]

But for a lot of us here, my question is, is bitcoin all about getting rich or its one way escaping the system that has been setting us an authority to make us controlled and secretly manipulated? Your different points of view are highly welcome.

Many people have made different kinds of comments based on this question but from a personal point of view becoming rich by investing and trading in Bitcoin is a difficult matter. Most of the time one has to face losses through trading, but among them very few people can make a good amount of profit through trading. For this reason regarding becoming rich the matter of investment should be given priority by leaving aside the matter of trading.

However if someone can get a reasonably good profit by investing in Bitcoin for a long time then maybe the person will become rich but this is not always possible. For this reason regarding becoming rich, investment will help as much as trading will not because by trading one has to face losses every moment. But along with investing for a long time, if trading can be done by analyzing the market well and using one's own intelligence then maybe good profit can be obtained.