Bitcoin is not a get rich quick scheme

[liexel]

to quote Vladimir "bitcoin isn't a get rich scheme, it's a get rich slow scheme."

lol. five years is still a short time!

but yay! +1 for this post

[1714613170]

1714613170

[mraveragejoe]

to quote Vladimir "bitcoin isn't a get rich scheme, it's a get rich slow scheme."

lol. five years is still a short time!

but yay! +1 for this post

It depends, if bitcoin will be go up 1000% from here, 5 years is a short period for sure.

[Cortex7]

Bitcoin adoption is still in early stage. $6 billions is just a tiny drop in ocean of finances.

Agreed, most people don't realise just what a chump change sum of money 6G$ is from a global perspective.

[Cortex7]

Also many young bitcoiners are tweaked up on buzz drinks and computer games. (shakes fist "giiit of my lawn")

They are only satisfied when the chart is in expo mode, if it's bumbling along sideways they feel like a junkie without a needle.

I am confident we will see a continued noisy rise, and it will retouch or cross the expo line again.

EDIT: quoting OP because he nails it...

If you do not have patience, go waste your money in Vegas.  If you do not have vision, go waste your money on booze.  If you have common sense, invest a small percentage of your money in Bitcoin and hodl for at least 10 years.

Remember, if you are not on the train you can NEVER go to the moon

[DeadCoin]

Let me get this straight, you say "it's not get rich quick scheme" yet you see bitcoin at $ 1 000 000 in 2018?

[Wandererfromthenorth]

Let me get this straight, you say "it's not get rich quick scheme" yet you see bitcoin at $ 1 000 000 in 2018?

Apparently for some people "quick" means "in a few months" lmao

[blatchcorn]

Also many young bitcoiners are tweaked up on buzz drinks and computer games. (shakes fist "giiit of my lawn")

They are only satisfied when the chart is in expo mode, if it's bumbling along sideways they feel like a junkie without a needle.

I am confident we will see a continued noisy rise, and it will retouch or cross the expo line again.

EDIT: quoting OP because he nails it...

If you do not have patience, go waste your money in Vegas.  If you do not have vision, go waste your money on booze.  If you have common sense, invest a small percentage of your money in Bitcoin and hodl for at least 10 years.

Remember, if you are not on the train you can NEVER go to the moon

Why thank you 

I made this because a lot of people need a wake-up call and realize that a bad year for Bitcoin is not that bad in the grand schemes of things

[Coinfan]

Don't forget that for some that bought at prices way higher, Bitcoin has been a get poor scheme.

And taking in account the current trend, this category might get wider on the short-term.

[alexeft]

..................................

Very nice presentation OP! 

[wormbog]

Great thread!

Bitcoin "investors" need to be playing the long game. Spend some coins. Ask your favorite merchants if they accept bitcoin yet. Let it be known that you accept bitcoin for your goods or services.

This reminds me of a story from the bible:

“Again, it will be like a man going on a journey, who called his servants and entrusted his wealth to them. To one he gave five bitcoins, to another two bitcoins, and to another one bitcoin, each according to his ability. Then he went on his journey. The man who had received five bitcoins went at once and put his money to work and gained five more. So also, the one with two bitcoins gained two more. But the man who had received one bitcoin went off, printed a paper wallet and hid his master’s money.

“After a long time the master of those servants returned and settled accounts with them. The man who had received five bitcoins brought the other five. ‘Master,’ he said, ‘you entrusted me with five bitcoins. See, I have gained five more.’

“His master replied, ‘Well done, good and faithful servant! You have been faithful with a few things; I will put you in charge of many things. Come and share your master’s happiness!’

“The man with two bitcoins also came. ‘Master,’ he said, ‘you entrusted me with two bitcoins; see, I have gained two more.’

“His master replied, ‘Well done, good and faithful servant! You have been faithful with a few things; I will put you in charge of many things. Come and share your master’s happiness!’

“Then the man who had received one bitcoin came. ‘Master,’ he said, ‘I knew that you are a hard man, harvesting where you have not sown and gathering where you have not scattered seed. So I was afraid and went out and hid your bitcoin in a paper wallet. See, here is what belongs to you.’

“His master replied, ‘You wicked, lazy servant! So you knew that I harvest where I have not sown and gather where I have not scattered seed? Well then, you should have put my money to work, so that when I returned I would have received it back with interest.

“‘So take the bitcoin from him and give it to the one who has ten coins. For whoever has will be given more, and they will have an abundance. Whoever does not have, even what they have will be taken from them. And throw that worthless servant outside, into the darkness, where there will be weeping and gnashing of teeth.’

[Raystonn]

Applicable to a stable currency that gains no value itself.  Not applicable to Bitcoin.

[botany]

to quote Vladimir "bitcoin isn't a get rich scheme, it's a get rich slow scheme."

As long as it is a get rich scheme, I don't care. 

[An amorous cow-herder]

Don't forget that for some that bought at prices way higher, Bitcoin has been a get poor scheme.

And taking in account the current trend, this category might get wider on the short-term.

Also feel like the November bubble going to the moon was far too premature and correction will take a lot of time.
But well, others have gone to the moon and havent anymore in for over like 50 years.

[Erdogan]

Great thread!

Bitcoin "investors" need to be playing the long game. Spend some coins. Ask your favorite merchants if they accept bitcoin yet. Let it be known that you accept bitcoin for your goods or services.

This reminds me of a story from the bible:

“Again, it will be like a man going on a journey, who called his servants and entrusted his wealth to them. To one he gave five bitcoins, to another two bitcoins, and to another one bitcoin, each according to his ability. Then he went on his journey. The man who had received five bitcoins went at once and put his money to work and gained five more. So also, the one with two bitcoins gained two more. But the man who had received one bitcoin went off, printed a paper wallet and hid his master’s money.

“After a long time the master of those servants returned and settled accounts with them. The man who had received five bitcoins brought the other five. ‘Master,’ he said, ‘you entrusted me with five bitcoins. See, I have gained five more.’

“His master replied, ‘Well done, good and faithful servant! You have been faithful with a few things; I will put you in charge of many things. Come and share your master’s happiness!’

“The man with two bitcoins also came. ‘Master,’ he said, ‘you entrusted me with two bitcoins; see, I have gained two more.’

“His master replied, ‘Well done, good and faithful servant! You have been faithful with a few things; I will put you in charge of many things. Come and share your master’s happiness!’

“Then the man who had received one bitcoin came. ‘Master,’ he said, ‘I knew that you are a hard man, harvesting where you have not sown and gathering where you have not scattered seed. So I was afraid and went out and hid your bitcoin in a paper wallet. See, here is what belongs to you.’

“His master replied, ‘You wicked, lazy servant! So you knew that I harvest where I have not sown and gather where I have not scattered seed? Well then, you should have put my money to work, so that when I returned I would have received it back with interest.

“‘So take the bitcoin from him and give it to the one who has ten coins. For whoever has will be given more, and they will have an abundance. Whoever does not have, even what they have will be taken from them. And throw that worthless servant outside, into the darkness, where there will be weeping and gnashing of teeth.’

You could modify this, letting the two invest in real estate and oxen, and the third could be a hodler!

[Dafar]

Except it WAS a get rich quick scheme if you got in early 2013 or before and held on til November 2013.... what other opportunity did we have to see that much of a return? If I put in $10K in Jan 2013 I could have been pretty "rich" by November and 10 months to become rich is hella quick


We just got unlucky and may have to wait several years before we see that type of traction again

[dadugan]

Except it WAS a get rich quick scheme if you got in early 2013 or before and held on til November 2013.... what other opportunity did we have to see that much of a return? If I put in $10K in Jan 2013 I could have been pretty "rich" by November and 10 months to become rich is hella quick


We just got unlucky and may have to wait several years before we see that type of traction again

If we know for sure it will go up in value, then it is not unlucky.

Unlucky means if you buy 10k worth of bitcoin today and then it only worth less than 500 dollars a few years from now.

[dropt]

Except it WAS a get rich quick scheme if you got in early 2013 or before and held on til November 2013.... what other opportunity did we have to see that much of a return? If I put in $10K in Jan 2013 I could have been pretty "rich" by November and 10 months to become rich is hella quick


We just got unlucky and may have to wait several years before we see that type of traction again

Rich is relative.  Your scenario would barely afford a shithole house around these parts.  For others, they'd be set for life.

[Wilhelm]

Except it WAS a get rich quick scheme if you got in early 2013 or before and held on til November 2013.... what other opportunity did we have to see that much of a return? If I put in $10K in Jan 2013 I could have been pretty "rich" by November and 10 months to become rich is hella quick


We just got unlucky and may have to wait several years before we see that type of traction again

Rich is relative.  Your scenario would barely afford a shithole house around these parts.  For others, they'd be set for life.

Set for life is also relative. Look up what Hammer-Time means nowadays

If I can buy my shithole house and don't have to pay mortgage then I am a happy person.
Ofcourse it would be more fun to own a G650 private jet and travel the planet....

[zetaray]

Bitcoin is a currency and an investment for me. I expect to gain from it but do not expect it to be quick. Everyone's definition of "quick" is different. My "quick" is a few weeks, so bitcoin is not a get rich "quick" scheme for me. 

[Wilhelm]

Quote this "You will never get rich quick enough"