Post
Topic
Board Altcoin Discussion
Re: Never invest in any cryptocurrencies!
by
Shallow
on 02/10/2020, 16:23:55 UTC
I think most people approach crypto in the wrong way. With "get rich quick" approach.

If you come to crypto with such an attitude, you should never ever invest.

On the other hand, if you actually had to earn it while doing whatever you are usually doing anyway, that involves money?

Examples:
You get crypto as a token of gratitude after making donation to some project. (crowdfunding)
or
You are paid crypto as a bonus to your salary.
or
... (any other examples come to your mind?)

Wouldn't the whole cryptoworld be way more healthy? What do you think about it?





First I would say your title was a bit off, I mean I was thinking another thing altogether. However, your points are correct. The mentality of get rich quick has made many people to participate in fake giveaways, scam projects, Ponzi schemes and so on; this is all because they failed to understand that there is more to the crypto space. For example, Bitcoin has made peer-to-peer transactions possible, therefore showing that for once humans can have their privacy. By having this understanding of Bitcoin, one can easily research on any project thus knowing what is obtainable and so on, thus when that is understood, get rich quick mindset will be eliminated, participating in hype projects, Ponzi schemes will stop.
Take a look at the crypto space today in relation to DeFi hype, everyone can agree that in as much as most people have made gains, a whole lot has lost much as well, while many teams has exited scam also.
So in all ramifications, that mindset needs to be purged out of our minds.