Topic: Reason for acquiring bitcoins. - page 2. (Read 932 times)

Some holders may buy Bitcoin and set the target for profits on the ATH. But other holders don't set the target on the ATH, they target to take profits once it reaches certain percentage of the growth. For example, I bought Bitcoin at $40k last year and I target to take profits when it grows 100%. It means when the Bitcoin price reaches $80k, I will automatically sell my Bitcoin and take profits. I don't care whether Bitcoin to reach $100k, $150k, or more. When it fits with my target, I will secure the profits.

However, some holders may take profits gradually, they don't sell all their Bitcoin at once. They may plan to sell a half of their Bitcoin when Bitcoin reaches a certain rate. Then they will sell again some of the Bitcoin when the price goes higher. Well, it depends on the strategy used by the holders. But I believe that not every holder sets the profit target on the ATH.

Why do people do anything in this world in the first place? The answer should be to get profits and thats what makes people go into Bitcoin purchase because of the high probability of people getting profits. Bitcoin is a medium that makes it so easy for people to get profits at a very high amount without doing much stress, the only factor is that one must know fully the basics of Bitcoin and you are good to good so tell me is that not enough for people to buy it?

From the beginning, people doubted Bitcoin, and they did not expect the whole thing to be a turnaround. Over some years now, bitcoin has gotten such remarkable growth that even the early investors did not believe it would come alive. Plenty of them would have sold their bitcoin, while some would have lost access to it. and Bitcoin has continued to expand and will continue to expand, Bitcoin, in general, is pulling a large volume of transactions ranging from thousands to hundreds to millions to billions. and Bitcoin being an investment tends to open the way for people to make money from it.

The point of people rushing into Bitcoin is not more than making money from it, and that is exactly what we are all doing. We want to make money. Buy-and-sell is not the only option now you can also trade for those who do not have a large amount of money to invest. Trading is a good option, and holding is also good, but for me, when you have good money, that way you can enjoy the purpose of acquiring bitcoin.

 Normally bitcoin was meant to buy things online and to pay for services digitally but that part of bitcoin is not working as the investment take over. Because of the value of bitcoin, people has left using using bitcoin to buy something for the investment and as I said some of the reasons have been already stated here. It is because Tor value and the appropriating level of bitcoin people just going into Bitcoin to accumulate and hodle for the bull market. Nobody make investment and keep there forever there must be a time to collect the profit form the investment and bitcoin investment is not an exceptional.

Very correct. But understand that this wasn’t the reason why Bitcoin was created at first. I am not saying it’s wrong or improper to buy Bitcoin for that reason but then, I had to first explain that in my previous reply that there are a couple other importance of buying Bitcoin. But the most important which is why Satoshi Created Bitcoin is the ability of Bitcoin to eliminate middle men; giving us the P2P transaction.

That's one thing but when it comes to your own decision, you don't want to miss such huge opportunities while it's hot and trending and you have all the capability to join the club. that's exactly what the big companies have been doing these recent years and no wonder they became one of us right now who are investors and also are waiting for another Bitcoin price bull run.

As for the others who were buying bitcoins at a specific time while it was trending for a while when its price reached another ATH, those are veteran risk takers and usually, they are buying bitcoins with a huge amount of money and that's not recommended for us who only can afford a small amount of investment with bitcoins monthly. Because those people know exactly when to pull out their investment because they have been doing it for a while now.

Once that paradigm shift happens, trust Bitcoin to lose its allure. Whether we like to accept it or not, most of us hodling it are doing so because of the asset side of it and not as a means of payment. Bitcoin has since lost that right as a payment ease to newer tokens and coins because of its constant and unending congestion bottleneck and exorbitant fees. So, if the only thing Bitcoin becomes useful as in future becomes that, then it's going to become boring investing in it.

You are a point that the essence of people acquiring bitcoins and hold is because of making of profit, normal circumstances bitcoin is like an essential commodities and their is no way you can invest in bitcoin without knowing that profit is involve in bitcoin, so bitcoin you can only make a profit when you have targeted the time of increment and the time of decrement.

Every person has their reasons for accumulating and holding Bitcoin. I am among the people looking for financial freedom and decentralization, in which I become the sole controller of my assets without the restrictions of banks with their restrictive measures and time-consuming procedures and without the control of any third party or government. Bitcoin is not only an excellent investment vehicle for creating wealth, it is like the wealthiest precious metals due to its limited supply, which leads to an increase in the scarcity and value of Bitcoin over time, but it has many other advantages as it also gave complete freedom to pay to all countries of the world, throughout the day, and with faster and smoother transactions. Many stores and platforms now accept Bitcoin as a payment method. This currency has great positives compared to its negatives, so it is worth accumulating and taking risks, as it can turn the scales of the game and transform anyone’s life for the better.

People are obsessed with acquiring bitcoin simply because of its high potentials to make someone gain huge profits in the future. No one will suffer from consistent losses in bitcoin if he won't be profitable in the future, of course that is only an initial motivation so that one will improve his knowledge and performance in the market, otherwise he'll end up investing at a loss like he is gambling and see his bankroll continue to vanish.

They are many reasons why we acquired Bitcoin and holding it, because one want to become Rich, and Bitcoin has become the only way in which one can attain his greatness, and again it's a legitimate online business which One can boldly get involved and have a successful business without no stress , Bitcoin has been a business opportunity one can trust and wish to buy as many as possible for future use because it future always becomes great and high,
Bitcoin is the best highest online business successful that has ever happened which attracted too many people to invest in it and trade in it as well and you investment flows very well and you make a lot of profit, and it's a business that can give you a chance to buy in low price and sell at the highest price sometimes, it's a business that one always got into no matter how it's and you must surely make a profit from it,..

That totally depends on the person accumulating Bitcoin. depends on his reasons of buying bitcoin. Bitcoin can be used for many purpose, you can buy and sell it which is called trading in simple words, buy low and sell high to earn profit.
or you can use that as a way of payment, receiving or sending payment using bitcoin is a lot more convenient comparing to other digial payment sources such as paypal etc (that's my opinion)
Or you can just HODL it and be a long term Bitcoin HODLer, if the price of Bitcoin increase in future, value of your holding will also increase accordingly.

As the world's largest cryptocurrency, Bitcoin, has gained impressive success and continues to soar in popularity. Bitcoin has to offer investors, including its continuous growth, consistent track record, liquidity, low inflation risk, and simplified trading. The data shows that the number of Bitcoin users grew by 44% in just one year, and there are currently 100 million Bitcoin wallets with value. Additionally, Bitcoin has consistently surpassed its all-time highs and is considered an inflation hedge due to its limited supply. Its ease of trading makes it accessible to investors of all experience levels. Some of the reasons for acquiring Bitcoins are as follow:

Continuous growth: According to data, the number of Bitcoin users grew from 45 million in January 2020 to 65 million in January 2021 - a 44% increase in just one year! Currently, there are approximately 100 million Bitcoin wallets with value, with 1 million users transacting Bitcoin each day.

Track record: Bitcoin has consistently surpassed its most recent all-time highs, achieving full recovery after a price crash or other setbacks

Liquidity: Bitcoin can easily be traded for cash or assets like gold - instantly and with incredibly low fees. This makes Bitcoin a great investment for people looking for short-term profit, as well as those considering long-term investment due to its high market demand.

Lower inflation risk: Unlike world currencies that are regulated by their governments, Bitcoin is not susceptible to inflation. In fact, it's considered an inflation hedge because of its limited supply that is not influenced by its price.

Yeah. you are right, and I believe the fact that you said some people are using bitcoin because they have a lot of money and are looking for a way to Increase it. Anyone who carries their money and comes near bitcoin, I won't doubt it they come for an investment plan; therefore, if someone even tells you this, don't believe it because it is a lie. not bitcoin investment. So let me tell you, they all come for money, and it is because of the safety and profits they know it will generate for them after investing in it for a long period of time.

Furthermore, bitcoin investment is not for people who are bored because it is not something that, after investing in it, you still have another thing to do since you will not be the one to control the market or contribute anything to get a bigger return. What effect is this going to have for someone who is bored and looking for a way to have fun? So even after the investment, it is left for the investor to secure the investment by keeping their private key safe and other things until it reaches their target to sell.

the major reason why everybody want to buy Bitcoin when the price is low and sell when the price is high is because of profit because the objectives of every investor is to make a profit so buying mind the prices low will be favorable to someone who want to venture into a long-term investment in Bitcoin so therefore every investor is likely to buy when the price is low so that during the bullrun they may likely make a profit through the investment, especially they likely to venture into long-term investment, the billionaires we have today through cryptocurrency investment especially Bitcoin ventured into long term investment not a short term Investment

Firstly Bitcoin itself is a currency just like every other currency but the thing with Bitcoin is that you are the one true owner of it as you can control it and own it privately and that's even outside the benefits that it brings when it comes to investment because another major reason of people owning Bitcoin is because of its ability to serve as a means of investment thereby possibly making those that adhere to the rules involved in using it as investment rich to certain comfort zone.

However, that doesn't stop those people who buy and sell bitcoin, thereby earning real tangible crisp dollars People don't care whether an asset is tangible or not. If they can make money on that asset, they don't care about its tangibility. And the price, which as you say "swings like bat out of hell" is exactly what helps to make money.

There are many reasons why people decide to invest in Bitcoin and one of the reasons is because of the volatile market. The market is volatile so it is very easy for one to buy at low price and sell at higher price. The difference between these prices is what brings profit to us. That is why there are people in the market that are always looking for the bear market so that they can accumulate enough Bitcoin and there plan is to sell when the price goes up. This strategy has been working for many people that is why they keep buying and selling at a speculated price when they know the market wil either bear or bull so they can make money.

Even though I have noticed some people pretending to buy Bitcoin for the love and not because they believe they can get financially comfortable through it, majority of Bitcoin investors got into Bitcoin because they know the wealth generating power of Bitcoin. Even those who got into Bitcoin because of the use case like myself, somehow they realized that it could be a store of value and started holding. So the ultimate reason for holding Bitcoin is to make more money from it, leveraging on the volatility and other amazing properties of it.

However, there are other reasons I have come to realize that made people invest in Bitcoin. Personally, I have made some adjustments in my future plans and that including adding Bitcoin to the assets I will transfer my heirs. Consequently, I'm building to HODL and never to sell my entire assets irrespective of the price Bitcoin gets to. I will experience bull and bear seasons as long as I live and will never run out of Bitcoin.