Post
Topic
Board Bitcoin Discussion
Re: Investing doesn't guarantee you to be rich
by
Blitzboy
on 07/07/2023, 15:27:41 UTC
`

That would still depend on how you're going to handle your money, your investments, your savings, etc. I mean you could totally earn a big amount of profit in cryptocurrency by investing in it, but earning millions is nothing if you don't know how to handle your money and how you're going to grow it, maybe you earn million but then you just spend it on expensive stuff, then you're just going to end up broke again even though you earn a big amount of profit, if your spending is bigger than your saving it just wouldn't make any sense you're still going to be broke in the end.

For sure investing in cryptocurrency, buying bitcoin, etc. doesn't guarantee you to be rich, there are only a few lucky investors who have been able to be rich on Bitcoin investment and cryptocurrency. Yes, you can do it probably but it doesn't mean it's going to happen what is guarantee here is your going to earn a good amount of profit if you know what actually is your doing, and compared to other sources of income maybe we an call it some sort of shortcut since profit on cryptocurrency is higher even though it is riskier.
Investment is not a game of chance but a calculated risk, and this is especially true in the volatile and unpredictable cryptocurrency market. True, one can rapidly go from affluence to poverty in the absence of fiscal responsibility and knowledge of money management. But it's unfair to dismiss Bitcoin's early adopters as "lucky" if that's all you can call individuals who've made a lot of money on the cryptocurrency.

Each investor's risk tolerance and viewpoint are reflected in the investments they choose. Yes, there is greater potential for loss, but cryptocurrencies like Bitcoin provide a once-in-a-lifetime chance of exponential growth. The many early adopters who are now worth millions is only one example. And it wasn't just dumb luck; they recognised opportunity where others saw danger.

Obviously, this doesnt mean that you should go out and buy Bitcoin with the hope of becoming the next crypto millionaire, but it's something to keep in mind. Knowing the beast's true character is essential. As you put it, cryptocurrency is not a "shortcut," but rather a new way forward.