Years back when I started hearing about bitcoin, I used to think that it was very easy and a shortcut to success. This perception was informed by the way people projected bitcoin, that if you want to get rich quick, you should just go into bitcoin. Today I know better that the perception is wrong, because people can actually loose their hard earned money in bitcoin, leaving them worse off than when they started it. The volatile nature of bitcoin makes it to be quite unpredictable, people who want to trade bitcoin must diligently study about it, know the technicalities and terminologies of it, before venturing into it. Even at that you can not accurately predict the outcome whether the price will pump or dump.
The path to success cannot be quick, short and easy. Everything that is offered in this form is deception or a complete misunderstanding of the subject of the proposal, for example, as happens with bitcoin.Unlike fiat which the amount in your bank account remains what it is, bitcoin in your wallet will constantly fluctuate, meaning that there is chances that you can gain or lose your bitcoin. This confirms that the chances of getting rich can also make you poor. Although the probability of earning in bitcoin, is more than loosing in it , if the person understood how to speculate the factors that determines the supply and demand of it, also to be disciplined.
The amount in your bank account never remains the same. Even with the interest that may accrue for keeping it in a bank, that money is still lost due to inflation. Slowly and the longer they remain in deposit, the more they become cheaper.If we assume that bitcoin has only been growing since its inception (in the long term), then it turns out that the probability of making money on btc is higher than losing it.
So do you think that I'm correct about bitcoin, that it is not an easy way to get rich quick as some people will make believe, and it is just like other ventures where there is no guarantee of getting rich?
You can get rich at bitcoin if you have patience for many years. Look at early investors. Those who had the fortitude not to sell btc cheaply now have a good fortune. It would seem that there are no obstacles to repeating their success.Are there any guarantees of getting rich?
This sounds funny.