Getting rich or Financial jailbreak?

[Ahli38]

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.

Bitcoin is not an asset that guarantees quick wealth. But Bitcoin’s limited supply has the potential to increase its value in the future. And you could potentially become wealthy if you hold onto it for the long term. Bitcoin can serve as a store of value or even a hedge against inflation. It can also act as a hedge against inflation potentially outperforming fiat currencies whose value is vulnerable to inflation. The freedom you gain from Bitcoin is also an extraordinary value compared to other types of assets because you alone have full control over your Bitcoin holdings. Bitcoin’s decentralized blockchain system gives you all that freedom. You won’t find an asset as good as Bitcoin in terms of the freedom it offers and even its scarcity.

[Nheer]

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.

Well practically that's the major reason why a lot of people are into Bitcoin, to gain some profits but I would still boldly say that not everyone is in for the gains, even if they are very few. We all can agree that Bitcoin's real purpose is to give financial freedom and free us from the centralized government system but people are just enjoying the side benefits attached to it which is it's volatile nature and try to get some profits.

The idea of getting rich with Bitcoin is always there but the problem now is, it's more harder to get rich with Bitcoin compared to when Bitcoin was a lot cheaper, it will also become almost impossible in the future to get rich with Bitcoin.

Once Bitcoin reached like half a million the chances of getting rich with Bitcoin will be almost impossible, you will have to make alot of money for your DCA to be reasonable.

It's true, the more expensive Bitcoin gets the more difficult it gets to get rich with it. The amount of profit made in the past is quite different from what people make now, and it will even get harder in the future when Bitcoin increases in values. At that point only the rich who are able to put a lot in Bitcoin will make a reasonable profit

[macson]

I don't think 'getting rich' fits all that well in this case; it's probably more accurate to say profit, because getting rich through Bitcoin these days is kind of unrealistic. But if you're still expecting some profit, it's possible --- though no one can guarantee it.

As for the second point you mentioned, I don't think everyone involved with Bitcoin has the same mindset trying to escape the fiat system. Most people nowadays tend to see Bitcoin just in terms of profit, rather than as decentralized money free from intervention. So they end up trusting centralized platforms to manage their assets --- since they only want profit and don't want the hassle of self-custody.

[Slow death]

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.

In my case, I view Bitcoin as a safe asset for long-term investment and one that allows me to avoid worrying about my country's government knowing exactly how much I own. For instance, if I kept $1,000 in a bank account, both the bank and the government would know about it; they could freeze or track my account if they ever took issue with an opinion I expressed. Yes, I live in a country where the government cannot be trusted. Of course, I follow the law and do nothing wrong I don't even post comments on social media, out of fear of my country's corrupt government. So, Bitcoin is like a lifeline for me; I can keep it in my wallet, trade it on an exchange, and use it to buy whatever I want.

[osasshem]

I see Bitcoin to be a financial system created to break us out of the financial control we have been under over the years the introduction of money come into existence. Despite the fact that Bitcoin cannot replace native fiat currencies, but if exposed the secrete behind Fiat's control and those who seats at the top doing the whole manipulations stuff. Bitcoin is not a get rich quick kind of investment asset, but an asset that accumulates wealth over time, making it a tool that requires patience to be financially free from controls.

[Faisal2202]

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 started using crypto even before I created my bank account, so you can say my first money was in crypto, and it was ETH, not BTC. I started to learn about BTC after a year. So at first, it was all about making my base strong. I needed money, I did work and earned money. Later, I started to learn about BTC, invested, traded, and found DCA. That's how my mind about investment was made, and I changed my habits, wishes, and expectations. This did not only change me from the finance side, but in real life too.

Like that study that said most of the Bitcoiners are introverts haha.

So first, I used it to make my finances better, then I learned how can I do it, which btw I learned the hard way. So now I am just trying to accumulate BTC, not to become rich, but because it is easier, has the potential to grow even 10x in the next 10 years. I can go for gold or other assets too, and I should. I will recommend this too to others because diversification is necessary, but BTC has now become my first choice. Also, escaping the system while you own BTC is not that easy. Eventually, you need a financial service unless you find someone in P2P offline.

[goldkingcoiner]

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.

It is both.

A way of getting rich (because nobody makes prints more coins, making them worthless- and by this I am making an analogy between Fiat and the way the government uses it too keep their slaves poor and tamed)

And a way to escape the fiat mental asylum.

[suzanne5223]

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.

Bitcoin wasn't designed as a lottery ticket. 
When Satoshi introduced it, it's the p2p which exclude the need to trust third parties, censorship resistance, fixed supply, and self-custody that make people invest in it which is also the reason why it appreciate in price appreciation. Besides, it's also the reason the governments, institutional, investment capital, and more see it as hedge against inflation in the world of endless fiat expansion and capital controls practice by the Feds.
If people now see it as a process of wealth creation, escape high cross border payment expense with days of waiting for transaction confirmation, or centralised drawback it because it's core features provide solution the people need and the angle it help each People will determine their stance about it.

[Sandra_hakeem]

...
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.

or maybe the thole financial system goes down and btc and gold become the survivors. Unlikely, but not impossible. There are all kind of different possibilities in finance and btc is a hedge against some of those bad ones.

Fiat system has been around ages before Satoshi(s) developed the white paper and your government has been run covetously over these years, passed down through the generations. It's not impossible like you said, but you should know that Bitcoin lacks those properties required to function as a currency. I think it's better off as a digital commodity than anything else outside it's originality.

If btc goes to zero? I only lose the amount I currently hodl which is nowhere near harming me and my finances.

Haven't you gained enough from it over the years to feel any type of hurt if, all of a sudden, it runs down to zero? Count your wins not your loses. This is a coin that has survived crackdowns and severe market crashes. It has gone past the times I had a skepticism about where this is going, or what would happen in the future. I don't care.

[Asuspawer09]

There are maybe some people that this Bitcoin was just some kind of cult aside from that this was surely a way of investment and making money, I mean Im not trading for years just to hold Bitcoin at some point im going to take profit, but I do understand some people that doesn't want to sell and just keep it forever until they die, I also have a friend that was never plan to sell any of his Bitcoin because he said to me that it is something that his going to leave as a inheritance to his son, but same thing for sure soon enough it is going to get sold.

So this was surely Both getting rich and fiancial jailbreak because we are getting the same thing on just investing on it, we are investing anyway to make money here in the end, but at the same time we want to protect our money from inflation, I mean thats what makes it different for sure to fiat money currency and that is also why it was something that could potentially be a good investment because of that traits. Still making money is always going to be a thing here.

[HelliumZ]

In fact, Bitcoin can improve people in two ways, one is to make them rich, and the other is to gradually free them from financial hardship. But in both cases, the purpose of Bitcoin is to benefit a person economically. However, in this case, only those who know about Bitcoin well and have a strong heart can make Bitcoin rich. But for those who have a weak heart and cannot hold Bitcoin in market conditions, it is not possible to become rich. You need to know about Bitcoin and enter at the right time and buy Bitcoin and hold it for the long term, then only your financial progress will improve.

[Miles2006]

Calling bitcoin an asset is the same as wanting to make money from it, majority of bitcoin adopters view bitcoin as a way of getting profit in return. Funny enough most people are not concerned with the idea of bitcoin as decentralized coin, the government not having control over bitcoin is also part of the list but, not so recognize.
Bitcoin is a get rich investment scheme with a long term planning not a get rich quick kind of investment, there’s no point arguing though most people don’t like the idea of bitcoin viewed only as an investment definitely people are slowly deviating from an actual purpose why bitcoin was created.

[mirakal]

I would say its both. Satoshi was probably sick seeing the centralized government and entities quietly taking a cut that's why he comes up with bitcoin which aims for financial freedom, and get rid from the shadows of the government and banks. Getting rich turns out a bonus, and Satoshi might have not expected that bitcoin as an investment will hype more than using it as a currency. But part of investing in bitcoin lies also the promotion using it as a currency especially for P2P transactions which Satoshi has envisioned it.

[freedomgo]

By the way, we've all been warned not to treat Bitcoin as a get-rich-quick scheme, the same advice I give to anybody who's contemplating on investing in it, but the truth of the matter is, 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.

[Skydrill]

[quote author=freedomgo link=topic have projected it. Maybe if we are one of those early birds and then we did hold our Bitcoin since the beginning then we could be wealthy by now.

But most of us here are to make profits every cycle and to maximize it. Of course, we can look at it as a way to disrupt the control of the government. But it might not the only reason though why we are here. Everyone wanted to take profit and make money, simple as that.

I agree with you but I believe there's more to Bitcoin which many people neglect during their Bitcoin accumulation cycles which if they knew would have been more better for them before they got involved, if we only see Bitcoin as a profit making scheme alone then we might get discouraged whenever we are faced with challenges such as the urge to sell when it isn't appropriate or when prices go below our expectations, so it's important to understand that having a long-term plan is important and also being disciplined too as regards your accumulation with your discretionary income will go a long way to stay focused especially when it involves newbies.

[BlackBoss_]

You've just reiterated my points. Like i said, making good returns from BTC is very possible, but i am talking about getting rich through BTC without already having a lot of money, which was possible in the early days, when you could even mine BTC on your computer.

However, i understand that it could be hard to measure what it means to be 'rich' in different individuals. But i feel that in order to make a lot of money from BTC right now, you would already have a lot of money to invest, and you're basically just getting richer.

If you have profit from Bitcoin investment, you get richer, that's it, and it's just right with everyone.

Differences among people are only their rich targets and how they define rich means. If a person as investor has only $500 for investment capital, a profit of $250 or $500 is a lot and very meaningful with that investor. He actually gets richer $500, a double of initial investment capital, and richer in this situation is considerable.

While $500 profit is nothing with a millionaire or a billionaire with huge investment capital but I see Bitcoin as a very good investment asset which can improve finance of people.

For opportunities of becoming a millionaire or a billionaire from a small investment capital in Bitcoin, that time gone a long time already.

[FinneysTrueVision]

At the time I got into Bitcoin, it was a more accessible option than fiat and traditional banking for me. My primary reason has always been to use Bitcoin for the reasons it was invented. That being said, you can’t ignore the price appreciation it has had. Over time, investment related purposes have become a greater factor in why I continue to hold and accumulate Bitcoin.

There is no shame in admitting that you want to see the value of your savings increase. Bitcoin has been an alternative to debasing and inflationary currencies since its inception. Naturally, if it is going to succeed as a currency, you would expect for its value to go up over time.

[Livingleged]

At the time I got into Bitcoin, it was a more accessible option than fiat and traditional banking for me. My primary reason has always been to use Bitcoin for the reasons it was invented. That being said, you can’t ignore the price appreciation it has had. Over time, investment related purposes have become a greater factor in why I continue to hold and accumulate Bitcoin.

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.

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.

In this era a lot  of people consider bitcoin as an investment and that’s practically a system to build wealth and get rich. This  was totally different from what people just wanted to experiment in the early days. The older days people just wanted freedom from authority and bitcoin provided them with that absolute freedom and independency which was the coolest thing at time. It’s just goest both ways now enjoying the freedom while also benefiting from its ability to to store value.

[OcTradism]

At the time I got into Bitcoin, it was a more accessible option than fiat and traditional banking for me. My primary reason has always been to use Bitcoin for the reasons it was invented. That being said, you can’t ignore the price appreciation it has had. Over time, investment related purposes have become a greater factor in why I continue to hold and accumulate Bitcoin.

There is no shame in admitting that you want to see the value of your savings increase. Bitcoin has been an alternative to debasing and inflationary currencies since its inception. Naturally, if it is going to succeed as a currency, you would expect for its value to go up over time.

We all have one life to live and there is no time traveling machine to use so we all have to accept with our decisions in the past, move forwards with whatever chances we missed or whatever valuable things we already used and wasted. With Bitcoin, I believe that if we have have a chance to go backwards, change our decisions in the past, most of us would have held our bitcoins and used less bitcoins for spendings or tradings in the past.

It's only an assumption, a hope that will never come true but our adoption and use of bitcoin in the past were actually important contributions for Bitcoin growth. We can be proud of that, even we have somewhat regret about our bitcoins spent in the past when price was much cheaper than now.
https://charts.bitbo.io/satoshi-per-dollar/

[L E G E N D A R Y]

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.

Is there ever a timing that’s perfect as it concerns entering the market? I’m always of the opinion and mindset that every time is a perfect timing for anyone, especially when investing in an asset like Bitcoin that has proven time without number of how trusted it is. Anyone can enter the market at anytime, hold for the long term and still be profitable. Just like you said, it’s not a matter of who came earlier or who came much later, it’s more about how disciplined you are and how willing you are to stick to your goals and strategy and not even about perfect timing.