Topic: Benefit of bitcoin - page 3. (Read 580 times)

When you fail to seek knowledge before investing, you're going to lose. Most newbies still think that because Bitcoin can rise anytime that it'll happen during the bear market so they invest when the market is crashing and many of them end up not been able to hold their Bitcoin because they didn't plan to hold form the very beginning. They fail to understand that making money form bitcoin comes from having patience.

If you want to benefit from investing in Bitcoin then you have to learn to be patience. If you can't have patience then learn how to trade Bitcoin then use that knowledge to trade Bitcoin and other crypto. You can make money and benefits from investing or trading Bitcoin.

I don't really see anything having the slightest possibility of interrupting the chances of Bitcoin prolonging its value over time because it basically doesn't have any disadvantages or vulnerabilities as a technology, even if there are a few vulnerabilities like 51% attacks and stuff, they are more likely not reachable for anyone to compromise or interrupt the network.

The only thing that people might consider a disadvantage of Bitcoin is its volatility which is basically there in all cryptocurrencies and it's because their prices go up and down based on demand and supply and because of the flow of the money invested.

basically bitcoin is currently more widely used to get money, where by investing it will get multiple results. however, to achieve this we must have knowledge about bitcoin, because if it is wrong, we can lose money, this is experienced by many people with various stories, most of them are due to a lack of knowledge about investing in bitcoin. this happens a lot because of price fluctuations, where they can't stand to see prices drop down so they think about letting go, should keep holding on to be a good choice, or even buy again

And this is normal because for every investment there will be two results, either a loss or a profit, because basically this also really depends on an investor, most wise investors will know where is a good place and a good technique for them to anticipate losses later because actually what Investors are after is profit, the benefits of Bitcoin will be great when they don't fail to see the Bitcoin situation.

Actually they are required to have knowledge about Bitcoin and how it works and application to invest in Bitcoin, because most of them who are new sometimes don't pay much attention to important aspects like this and because of this many of them fail in Investments and don't get the Benefits of Investments and The benefits of Bitcoin, we strongly recommend that new investors understand it first.

It is obvious that Bitcoin is about finances, it is not just physical money, but can be transferred to real money. It's like a credit card electronic payment is used and you can also cash out if you want. The only difference is that it is tradeable, and can be used to send money to different places around the world that recognize Bitcoin.

At the same time, it can also be a form of investment specifically in the long-term category. Now, the disadvantage of this is that you can lose and it can also be a profit. Something that fiat currency does not exist. If it has a risk, I think it's normal because it belongs to the financial business industry because of the blockchain technology that comes with it.

If I say from my point of view I would say I have seen the advantages of Bitcoin never seen the disadvantages. There are some disadvantages though I won't focus on them. Because since coming to Bitcoin I have completely colored my life. I was living a very difficult life before I got connected to this Bitcoin. But after entering bitcoin forum I changed my life a lot. So I always respect Bitcoin and will love it for the rest of my life. I keep some amount of bitcoins for my future life. I am confident that I will get a lot of success and live happily ever after with the bitcoins I hold.

talking about bitcoin, of course there are always pros and cons because there are so many people who benefit from investing in bitcoin,
but there are also many people who lose from investing in bitcoin, such as people who buy btc at high prices and sell them at low prices.

so indeed bitcoin has many benefits as long as the person who buys btc is someone who knows about the science of investing in btc, so in my opinion the most important thing is knowledge because without knowledge there is the potential to experience huge losses.

Could you enumerate some of the advantages and disadvantages of investing bitcoin? To justify things out and for the beginners to reflect on? Because, IMO those pros and cons are depends on how you use bitcoin. If you use it as store of value/investment the risks associated with it are all equal with the pros and cons. Pros is you're invested into a highly volatile asset that can give you good profit long term. Cons are, you didn't know how long does it take for you to make profit and there might be a certain point where you lose your faith towards bitcoin because of the prolonged bear market.
Let's just be realistic, it ain't easy investing in bitcoin like the way we think it is.

Are you implying it is China? A country full of jokes that merely seeks to exploit its position as a global power. They release unfavorable policies regarding Bitcoin to induce panic among retail traders, only to later unveil contradictory policies that leave many regretting their decision to sell their Bitcoin. This means that China is truly manipulating the emotions of the crypto community.

And if other countries begin to ban it, just wait for some time, and they will eventually introduce policies in the opposite direction.

Bitcoin is the first digital asset to adopt Blockchain technology, rendering it sovereign and beyond the control of any authority. Even if a particular country prohibits its usage, individuals can still possess it.

He is a bitcoin maximalist, but what he says shows he knows nothing about it. What he said is sentimental, there is no any basis for his statement. Bitcoin is good, but it is not perfect as you say, it is also a man made product and will have pros and cons. It brings us great benefits, many people change their lives thanks to it. That's great, but many people can still get rich without it. So live in reality, don't live in illusions.

But what if majority of governments suddenly restrict the use of bitcoin?  it will affect bad condition to the bitcoin. just 1 country that restrict bitcoin will make this volatile price move down, more over if majority of government do that at the same time. But in other hand, i believe that bitcoin always have its way to stand after going down because of many things, like the power of bitcoin community that is very huge if they band together they will support bitcoin to stand back.

Poor knowledge of the bitcoin investment while venturing into it is one of the reasons the disadvantages of bitcoin tends to measure in the same scale with it's advantages.
Apart from the volatility and the open and accessible blockchain which reduces privacy, bitcoin is an investment assets with alot of advantages.
Even the volatility of bitcoin is more of an advantage than disadvantage. Just that newbies who know nothing about bitcoin will rush into the market at the apex of the bull run and when the market crashes on them, they will complain about the disadvantages of bitcoin.

nice copy and paste.

Bitcoin has several potential benefits as a digital currency and investment asset. Here are some of the main benefits:

1. Decentralization: Bitcoin is a decentralized currency that operates independently of any government or financial institution. This means that it is not subject to the same restrictions and regulations as traditional financial systems.

2. Security: Bitcoin uses advanced cryptographic techniques to secure transactions and prevent fraud. Transactions are verified by a decentralized network of computers, making it difficult for any individual or organization to manipulate the system.

3. Transparency: All Bitcoin transactions are recorded on a public ledger called the blockchain. This provides transparency and allows anyone to view transaction history and balances.

4. Low transaction fees: Bitcoin transactions typically have lower fees compared to traditional financial systems, making it an attractive option for international transactions.

5. Potential for high returns: Bitcoin has seen significant price increases over the years, which has led to high returns for early investors. However, it is important to note that Bitcoin's value is highly volatile and investing in it carries significant risk.

Overall, Bitcoin has the potential to offer a decentralized, secure, transparent, and potentially profitable alternative to traditional financial systems. However, it is important to carefully consider the risks and benefits before investing in Bitcoin or any other digital asset.

Some people consider the advantage and disadvantage something has for them before they decide to either use it or not. With Bitcoins, there are advantages and disadvantages, but like you have emphasized, the advantages of bitcoins are more than the disadvantages. Even with the many advantages, it will still be rejected by some people because they never really try to find out this advantages of bitcoins, some know the advantages but do not just see it as important.

Bitcoin presents both advantages and disadvantages as an investment. While it offers financial relief and freedom from centralized control, it is crucial to have a proper understanding of its uses and risks. Timing, investment amount, and taking investment plans seriously contribute to maximizing Bitcoin's benefits. New investors should consider the advantages outweigh the disadvantages with careful planning and education.

It's understandable that we love bitcoin and always say nice things about it, but there's no need to splurge and exaggerate about it. Honestly, no offense, but it's funny how many people see bitcoin as a god that can solve all problems in the world, and its existence will be eternal while it is only 14 years old.
Bitcoin is a new technology that will replace older things, and the world will continue to evolve, not stop. So nothing lasts forever, and something that will replace bitcoin in the future is possible. I just hope the people who are crazy about bitcoin don't come back to vilify it when something newer and better comes along. Because with what is happening with gold or other assets, people are having bitcoins and trying to smear it all to glorify bitcoin.

i disagree. you can certainly buy coins with cash.. new address each buy... and you can certainly sell those coins a week later for diamonds, gold, cash.....or more drugs. if we can all agree on that, then where is the problem for these people? and just to clarify, i didn't say they were getting away with it, i just said they were doing it- and that it's one of the large unseen engines driving market cap.

The downside is caused by a lack of knowledge in investing and most people who understand the right pattern can avoid unnecessary losses. So it depends on how one can understand how to make the right investment because most people who experience losses are inseparable from their own mistakes.

Profits will be proportional to the amount of money you put in, realistically it will follow the amount of capital, but for long term holders they can adjust the purchase at the HOLD level to their advantage. For example, trying to enter the market under any circumstances to buy bitcoin according to the finances you have.

Understanding market psychology will prevent you from panic caused by ongoing price reactions, so you can minimize the level of chaos that will end in losses. This condition is not understood by most people so they try to cut losses by selling their bitcoins in the Bearish market.

This Bitcoin thing is like an easter egg in the labyrinth of the financial world – timing is everything! Gotta have the savvy to cling on or let loose, get me? Bitcoin isn't some mythical cash box endlessly dispensing treasures. Nah, it's an instrument, and just like any other, if you're not wise with it, you're only going to wind up whacking yourself. Not the best feeling, believe me! You're really playing a trump card with those drawbacks you pointed out. It's akin to betting your entire stack in a game of cards on just a whim. Doesn't sound so smart, does it? So, why should one bet everything on Bitcoin without a deep understanding of the playing field? Knowledge – that’s our secret weapon here.

And let me just say, your analogy of Bitcoin being a perpetual headache for lawyers is spot-on! It's the uncharted territory of finance - no lawman around to keep things in check! This is where its allure and challenge lie. It’s not just a game of optimal buying time, but also mastering your exit strategy. Listen up, greenhorns! I need you to grasp one thing – plunging into Bitcoin isn't a shortcut to riches. It's a marathon, not a sprint! You've got to fixate on the big picture, not just a fleeting profit. Think of it as a game of chess, not a round of checkers!