Topic: Benefit of bitcoin (Read 641 times)

Profiting from investing in Bitcoin is the goal of everyone who becomes a Bitcoin investor. And with the volatility, traders also try to get profits even though they have to face difficult circumstances, but they still try to get profits. And they are all trying to achieve their respective targets and so far, many people have succeeded. And if you haven't succeeded in reaching your target, it's only a matter of time because if you still do it, you can reap the benefits.

They will be hard-pressed to make a profit if they think crypto is a get-rich-quick scheme. However, investing in crypto takes time, and we must be patient to wait for it. Only those who can do it can make big profits when the bull season arrives. And to achieve the biggest profit, it's better for them to focus on bitcoin, but they can also invest in altcoins if they want additional profits. But it's better to be more careful if you want to invest in altcoins because altcoin movements are wilder.

OP these are the general benefits you have listed and I kind of agree! But at the end of the day I think we all have different preferences as to why we using bitcoin ,take for example people coming from countries were their home currency has become totally useless and unstable... bitcoin does come to fill this gap and their benefit in such a scenario is not a benefit to me. So like I said some benefits depend on current situation with economy etc.

Ummh never seen this side of the forum  

Isn't bitcoin relation to the user a personal matter regardless of " the cult-like group?"
I wonder who this group of people are...

I believe that everyone who has reached this forum must already be familiar with the benefits of Bitcoin and, most importantly, blockchain. However, it is necessary to address the drawbacks as well, even to distance the cult-like group that tarnishes the project's image.

One of the key benefits of Bitcoin is its decentralized nature. Unlike traditional fiat currencies that are controlled by central banks and governments, Bitcoin operates on a decentralized network called the blockchain. This means that no single entity has control over Bitcoin, making it resistant to censorship, manipulation, and seizure. Additionally, Bitcoin offers fast and secure peer-to-peer transactions, allowing users to send and receive funds globally without the need for intermediaries such as banks. Bitcoin also provides a degree of financial privacy, as transactions are pseudonymous, meaning they are not directly linked to individuals' identities. These features make Bitcoin an attractive alternative to traditional financial systems, providing individuals with more control over their money and the potential for financial inclusivity on a global scale.

Well you've said quite a lot but it seems unclear whether you want to throw light on the benefits of Bitcoin or you're giving information on both the good sides as well as bad sides of bitcoin.

If bitcoin becomes stable, meaning it ceases to be volatile, do you think the supply will still matter? Limited supply is one of the factors driving the bitcoin price, but I'm talking about the case where it becomes as stable as gold, talking about the supply is pointless.

I'm talking about physical gold, and you can buy and keep it at home, in your safe, I'm not talking about investing gold in a bank to earn interest like fiat. And taxes are part of civic duty, if you use bitcoin to evade taxes, you are damaging bitcoin's reputation.

If that is what you believe in ? then maybe it is time for you to leave this market because you have already lose your belief and trust .
if this is stoppable then why still lean here?
better to run into another investments.

Indeed, people always talk about the technology of bitcoin, but what they care about most is its volatility and profitability. I don't believe someone is here to invest in bitcoin and say they love it just for the technology and not for the profit. If it is stable, people will still have demand and use it, but it will be significantly reduced and no longer receive the attention it is today.

I myself will be looking for a new investment channel and will only use bitcoin if necessary, and my interest in it will certainly not be great as I will focus on new investment. And I believe everyone will be like me, but there will be many people who don't want to accept that.

Why does anything of what you state have to be about bitcoin in relation to “profits”?

I think the main issue people face when it comes to their understanding, or lack thereof, of bitcoin, is first understanding it’s NOT an investment in and of itself. It’s a digits currency which solved double spending and is used as an investment vehicle just as all types of currency have been.

Why is it always about profits, and not the actual technology behind bitcoin ??

This is an image that it will take some time to dissipate as even exchanges are guilty of doing something like this in order to attract more clients, they sell the idea that bitcoin can be used as a way to earn profits in a short amount of time and newbies believe it because they do not know any better, however the smart ones soon realize there is something wrong and begin to make their own research about it, and soon discover they were lied to and they realize they need to adjust their behavior or soon they will lose their money to the whales.

Problem with new ones is them being biased. They often see this industry as an easy way to get rich in an instant. Indeed there are individual who managed to do so but there are many factors to prove that we won't have the same fate; difference with capital, risk management, decision making, and loss tolerance. These things would make results differ from one investor to another. Some would just be eyeing to profit but are not willing to lose an amount and this is where frustration may take place yielding to huge loss. Bitcoin has its own benefit especially as an asset but everything has its cons so never be too confident of this technology.

Your observations about Bitcoin highlight both its benefits and disadvantages. It's important to approach Bitcoin and any investment with a balanced perspective. While Bitcoin can provide financial relief and opportunities for investment, it also carries risks, especially when proper understanding and guidance are lacking. Bitcoin's decentralized nature gives individuals financial freedom without reliance on a central authority. However, it's crucial to consider factors like timing and the amount invested for maximizing benefits. Newcomers should be aware that Bitcoin investment offers advantages outweighing the disadvantages, but it requires serious commitment and careful planning.

Well said mate. Actually I have been seen a lots of people in my life who comes to Bitcoin i.e. Cryptocurrencies investment only for using it a quick rich scheme tools. But most of them who had such thoughts have dropped out from this sector  except some people who later realized their mistake and picked themselves up. First of all we need to change our perception about Bitcoin, Bitcoin is not a get rich quick scheme tools.  It is a virtual asset that increases our financial freedom.
And to talk about investment, it is not wise to invest more funds at once in any investment, altcoin says, and bitcoin says that if you want to gain profit in all of them, you have to always maintain a proper DCA management. And always take away greedyness from mind .

Both of you are right, people invest in bitcoin because they think some profit will be earned. They believe in some reason to gain profit with bitcoin, like its volatility will be utilized gain profit by Trading and Holding. Then, Its decentralization system and blockchain technology become an inspiration to develop exciting technology, and many other things .

Many people invest in bitcoin because there is an opportunity to get big profits, and many people have proved that. And that also happened to me, who has been investing in bitcoin for a long time because only by having lots of bitcoins will big profits come, even though we also invest in altcoins which can provide additional benefits. And the benefit of bitcoin is that we can have new investments that we can buy with little money. In contrast to gold which must follow the size of gold to be purchased and we must have more money to buy gold with the smallest size. From that point of view, investing in bitcoin will be more profitable because we can do it with small money and do DCA.

There are still a couple of people interested in it, but again, because of its price and volatility, people got into it because of profit, and for sure, most of us really believe that is the reason, and only a few really used it as a payment method. People really want to get involved with risk, especially if the chances of profit are huge and they can get rich on it or gain profit immediately. Even for myself, I will be buying gold instead of bitcoin or having my money put in the bank for interest.

Bitcoin offers financial, technological, economic, social, and environmental benefits through its decentralized system, lower transaction costs, and protection against inflation. Challenges include volatility, legal and regulatory issues, and environmental impact. Bitcoin operates on a decentralized network called block chain which provides individuals with more control over their finances, especially during their trading on digital sites when trust in traditional financial institutions may be low. Bitcoin transactions are more secure and resistant to frauds or hacking. Although it has to be admitted that anything can happen at any time in the internet world. But all those institutions and exchanges that are doing business have many security systems and measures within them to make the system stronger and better. I think you can easily trade and earn money on this platform.

If bitcoin becomes much more stable, then you will reinvest all your funds in gold, even taking into account the fact that there is a lot of gold to be mined and only 21 million bitcoins?

Your gold will need to be stored in some kind of bank vault, the bank will know everything about you and in fact your gold will not be with you, but under the control of the bank. You will pay for storage and of course you will pay taxes. Do not forget that there have already been cases in history when the government seized all the gold from the population. Although bitcoin will become less volatile, it will always rise in price, since its number will never exceed 21 million, and with the adoption, there will be more and more people who want to own bitcoin.

Honestly, I invest in bitcoin because of its high volatility, if it is less volatile and stable as gold, then I would rather invest in gold than take a big risk investing in bitcoin without big profit. Indeed, bitcoin's volatility has never been a downside. That is its biggest advantage, and most people are interested in ever. Would people still care much about it if bitcoin were a decentralized, anonymous, and private currency without volatility? Even I am doubting myself about that.

The fiat system also suffers from a greater degree of weakness and almost all aspects related to investing and money have their degree of weakness. So the explanation must be that there are different levels of weakness in bitcoin or in the fiat system, but of all the weaknesses that exist, we can choose which one has a much better impact. I'm sure why bitcoin can get more trust now because of the concept of decentralization and being able to maintain the value of the investment assets we invest.

From all your explanations above, but in the end at points 4-5 you are also indirectly praising bitcoin, so the point by point you made is actually not related to one another. Bitcoin has reached the stage of great adoption to date and the reason is clear that what is offered by bitcoin is far more rational in the way that many people feel at the moment, so people choose bitcoin as one of the options that can be used to make a profit.

Regardless of how bitcoin can generate huge profits if done in the right way, bitcoin's volatility can also result in people losing money when investing. Therefore it is important to understand how to invest properly and if they do not understand market psychology and panic when bitcoin experiences a sharp decline, then therein lies the panic that will bring people to the loss stage.

Why he can’t post here? Many newbies also join the forum every day and every hours, then often have doubts regarding the advantages of the coin, and hence they can see the post by the OP for their reference. Basically the main advantage or benefit of using Bitcoins is that, it provides decentralised option, which means no government can control my money or can neither know how many Bitcoins I am holding. I won’t be forced to pay unnecessary taxes or fees. I will no longer be dependent on the bank and can use my Bitcoins anywhere at anytime I want.

Many crypto traders only know how to benefit if the price of Bitcoin is rising, they see the decline in price as a bad thing, but honestly, some traders make big money from shorting the market.

And again, the smartest investors in the crypto space are those that buy only in a grounded market situation, when there is a big panic in the market, that's when they start filling their bags up and they always come out to be the biggest gainers in a bull market.

I don't see anything else that opportunities around the ups and downs of crypto market, you only complains if you lack the knowledge of making money out of the both market situation, Bitcoin is far more perfected than the way people pictured it.

I don't see anything as the major problem here, lack of knowledge is the main problem.

That's true, though it's the nature of Bitcoin and cryptocurrencies to be volatile, it actually provides benefits to the traders or holders since when the price goes down, they buy with whatever they have, and then when it goes up again, they sell and take profit. So this basically is an advantage of Bitcoin and other cryptocurrencies since if they were not volatile, maybe this many people wouldn't be interested in them.

Humans tend to like things that earn them money because money is what everyone is running behind these days, you can't do anything without it so you have to find ways to get as much as possible to have a life free of worries and tensions and if you don't have any, you can't live in peace.

To own bitcoin, you do not need cumbersome procedures like when you need a bank account. But you will also need to go to the bank to convert your bitcoins into fiat as you cannot use bitcoin for your daily life, bitcoin is not an accepted payment method in the world. The second thing: using bitcoin to invest, you can make a profit, but there is also a risk that you can lose and lose money. Bitcoin has many benefits compared to fiat or other assets, but it also has downsides. It's not perfect, and we can't use it without fiat.

The most popular cryptocurrency in the world today is Bitcoin. The most necessary thing in human life is money or money. Currently,money or money has changed based on information technology. Everyone is now transacting with the digital currency called Bitcoin. Generally,if we want to make money transactions, we must open a bank account and need a debit card or credit card.  These are not required for Bitcoin transactions because Bitcoin is not a bank-based currency. Transactions in Bitcoin do not require extra charges like other payment systems. Security is very good in Bitcoin.There are many opportunities to earn in Bitcoin. Those who mine Bitcoin earn quite well. There are also many people who invest in bitcoins,they buy bitcoins at the same price and later sell it at a higher price to make a profit.

Exactly, with those volatile nature of Bitcoin people took advantage from it since it affects the Bitcoin's value which it could drop and increase in just time. It would be just considered disadvantage if people use it in a wrong way where they could lose their funds. As a good trader they should know when to enter and bounce out in the market. Without it's volatility Bitcoin might not reach it's value as this current day because people wouldn't find Bitcoin worth to invest with.

It's almost impossible to perform 51% attacks on Bitcoin network due to the difficulty and the adoption are keep increasing. The last FUD is about quantum computing can hack Bitcoin wallet, well if quantum computing can hack every Bitcoin wallet, Bitcoin price would be drop less than $100 because there's no safety or security anymore, so it's just a clickbait.

If people consider the volatility is the disadvantage of Bitcoin, they shouldn't invest in any kind of commodities.

Bitcoin has many advantages. First advantage, if you invest here for long term you can earn good money. Another advantage of Bitcoin is that we can do peer to peer transactions here. Usually when we have to transact money with someone, we have to transact money with the help of a third party. And for this transaction the third party has to pay some amount of interest. But if you transfer money in Bitcoin, you can transfer money without the need of a third party and the money goes directly to the person you want to send it to. No third parties are required and no separate interest is paid for these transactions. This is called peer to peer. Another advantage of Bitcoin is that in Bitcoin, there is no possibility of theft and fraud. Here you will be the real owner of your bitcoins. No one can steal your bitcoins from you. Because all Bitcoin processing is done very carefully and very securely. Another advantage of Bitcoin is that you can control your Bitcoin from anywhere in the world and in any situation. Apart from these, Bitcoin has various other advantages.

Some people consider this not to be a disadvantage, as it is precisely this volatility that allows certain individuals to profit from these price fluctuations. Who else but traders? Yes, they leverage the nature of Bitcoin, where its value is unstable based on supply and demand.

If it comes to transactions, perhaps this may not be the optimal choice. However, for investment or daily trading purposes, Bitcoin can yield profits for skilled traders.

Bitcoin has proven itself to be a reliable cryptocurrency and has brought many financial benefits to its users. But don't forget that Bitcoin is highly volatile, so it's important to evaluate when to enter and exit Bitcoin. In addition, there is no guarantee that you will immediately profit or avoid the risk of loss. There can be sharp fluctuations in the Bitcoin price in the short term, and determining good times to enter and exit is a difficult task. Therefore, one must master the knowledge of Bitcoin and the cryptocurrency market and consider it a long process that should not be relied on for quick profit expectations.

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!

It is true that Bitcoin is considered to be the most reliable crypto currency in the crypto currency market. There is no doubt that Bitcoin is a digital crypto currency which can also be called technology but this technology has brought many financial benefits to people. Many people still prefer investing in Bitcoin over other investments, and Bitcoin has the largest amount of capital.

Losses in Bitcoin can occur when you have no knowledge of the market and make reckless entries. People who understand the market and invest in Bitcoin at the right time have the least risk of loss. Newbies must understand that investment in Bitcoin is profitable only when you enter Bitcoin at the right time. Just as the entry time should be correct, the exit time should also be correct.

I agree with that. I believe that the percentage of criminals involved in money laundering is higher with fiat than with Bitcoin. This is because it's relatively harder to launder money using Bitcoin. As you mentioned even with mixers which are mostly centralized they often require users to provide personal documents before proceeding with the money mixing process. In other way, I believe there are other alternatives for using Bitcoin in money laundering.

For example one could purchase Bitcoin with their money on the dark market or through P2P transactions that no one could know about. There may be more alternatives than these, but I haven't searched deeply into the subject.

Aside from a possibility to lose money because of making mistakes (such as using a centralized service to store Bitcoin, making a mistake in Bitcoin address to make a transaction, losing access to one's wallet), there's also high volatility of Bitcoin which can be scary to people who are used to fiat currencies or gold which are less volatile. Moreover, let's not forget that while we expect Bitcoin to recover from each bear market, there's no guarantee that it will always do that (or that it'll happen within a reasonable timeframe), so it is possible to lose some money from this investment.

For now, bitcoin technology can still run well and no one has been able to stop bitcoin.
But if later in the future, several hundred years later, technology advances, it is possible that bitcoin technology will become obsolete and abandoned. We also don't know what will happen next.
And for now, we still believe bitcoin technology will still dominate crypto and be the crypto leader, so we have to use it to our advantage.
And bitcoin will still be around for a few years to come, maybe for generations to come so it's an advantage for us and the generations after us.

Of the many Bitcoin rivals at the moment, in general they have not been able to stop Bitcoin. So that I personally still have faith that Bitcoin technology cannot be stopped (except by the developer himself) because Bitcoin technology can still be passed down from previous generations to future generations. Even if there is another technology that is very similar to Bitcoin, it means that they may have seen examples of Bitcoin then create new technologies based on existing technologies.

BTC being used by criminals for money landering is now a bit of a cliché, the percentage is nothing compared to money laundered with fiat and other means. BTC is a permissionless currency, so surely people would use it for what they want, even crime, but to use BTC to launder money is not easy because you'll have to use mixers, and some of them are centralized, and they keep records of transactions, which they may give to the government if they request it. The government is also seriously cracking down on CoinJoin, all of these, including the BTC public ledger reduces the percentage of money laundering done with BTC compared to other means and currencies.
It may happen a long time into the future, though we are not certain of it, but right now almost all of the altcoins that have been created after BTC have been shitcoins that lack any usefulness.

Are you sure that bitcoin is unstoppable, are sure if bitcoin technology can continue to pass from one generation to another generation, bitcoin is a technology and I can see that technology of bitcoin can be double chances by another technology that deals with finance and appropriately looks like bitcoin, if such technology come to exist, it will take over bitcoin and people will like to test such technology

Bitcoin brings many benefits, but it will depend on each person's intended use and circumstances. But nothing in this world is perfect, everything has its pros and cons. Therefore, when investing or using bitcoin, we need to take advantage of its advantages and have a reasonable calculation of its disadvantages to avoid harming ourselves.



What if criminals combine with mixers? Everything will be easier than with cash. Bitcoin is not related to crime, but obviously, criminals would be harder to detect if they used bitcoin instead of fiat.

If you are suggesting that BTC is the best currency for criminals and money launderers, then you are not correct; take note that BTC transactions are not anonymous and everything is recorded in a public ledger which can be tracked to people's real identities. Money launderers move a lot of money, and they will find it difficult to convert it on crypto exchanges, and even if they do, it will be after series of kyc submissions which will expose their identity, cash is the best option for the "underworld", and not BTC.

This is one reason why people who wanted to engage in Bitcoin for financial relief needs to study and learn the ropes of Bitcoin, the technological and the economic aspect.  Blockchain technology is one of the new emerging and trending technology.  If a person is able to understand it, he can then offer his service and many start-up company may avail for it. From an economic aspect, the opportunity from investment, trades and catering new set of audience can be and extra source of income for people.

I do not think that the improper explanation is one of the flaw of Bitcoin.  These are human-made error which can be fixed by personally studying the what-about of Bitcoin.



When it comes to legalities, lawyers are the sought-after of people even though Bitcoin isn't control by anyone, once it enters centralized services, it will be covered by the regulation and law of a country.


I agree, by knowing when to enter and when to exit is crucial in engaging with Bitcoin trading and investment.  It determine how much we win or loss in our Bitcoin venture.


We can start by sharing the wonderful of Bitcoin to our families and friends.  From that if these people experienced the positive result in their Bitcoin journey, they will definitely share the news.  Word of mouth is still one of most effective way of advertising something.  So if we plan to use it then we should be well prepared and knowledgeable enough in order to avoid misrepresentation.

For those who are new to the Bitcoin and crypto world, it is important to understand that investing in Bitcoin does not guarantee instant wealth. These fluctuations are relatively strong, making it difficult for those unfamiliar with this level of volatility. So approach Bitcoin with realistic expectations and educate yourself about how it works, its underlying technology, and the factors that can affect its price movements. Understanding the risks and potential rewards involved in making informed investment decisions is a wise approach.

Bitcoin is an unstoppable technology that has a long term life span that counts across generations and time, this is not the like of technology that could a possible interruption of its development, but between we must have a balanced ground that will lead us to any possible future goals and aspirations that caught across that time.


History already has a good record of Bitcoin and how it has evolved, this is no different from all other technologies that have survived the test of time e.g. the internet which many predicted it possibly dead many times but still yet keep existing and developing.

You are not a lawyer, its only people who went to law school that knows the meaning of life bencher, when speaking of bitcoin I have not said bitcoin is something you will just join and make profit immediately, before you are successful in bitcoin you have known the plans of bitcoin investment and known how people who make profit in bitcoin follows

Newbies have to understand that most benefits of being invested in Bitcoin won't come to them on an instant. Why? It's because it's highly volatile and not all of these newbies are used to take this volatility that's coming from Bitcoin.

All they think is that money grows overnight and that's how the majority is earning on Bitcoin. It sounds like it's still a ponzi to them without realizing what they're up to. And that's why before investing on it and realizing the actual benefits of it, they need to give themselves a time to learn what really is Bitcoin.

I would take the number 5 as the most important one among all. For the number one, before you have that financial freedom from bitcoin you have to be patient and take risk. For the number two, the unprofessional attitude also made investors to loss out. Bitcoin is life bencher for lawyer? And not for the people? I really don't understand that clause. Yes the total amount of money you used in investing in bitcoin will determine the profit. Op bitcoin is not something one would just go into and becomes rich overnight. At least you have to wait for some months to have that benefits.

i think people forget or fail to understand that the underworld has fully adopted crypto. cartels, russian, mob.. their biggest problem wasn't getting contraband into a country, it was getting the cash back home. think of all the headaches.. well those days are long gone. a quick google search will tell you this is an estimated 32 billion dollar market. add sex and extortion and you can probably double it.

You have to understand that those who are new to this market are actually very mentally strong in the face of their close friends' losses. It takes many people a lot of time to be able to face it, and it is the same bloody experience that every investor has gone through. This is really not pleasant at all because market psychology is inherently full of immobility, a game where side factors can greatly affect you. From the psychological perspective, emotions can calm before bad news or the temptation of FOMO. So don't think that it's really comfortable because the world of bitcoin is very large and complex.

Well many newbies are already who are into crypto-currency are coming from or are still in the traditional financial system and for a certain they are aware of the disadvantages that already brings in, also some of them has made investments to and they should understand the risk that goes with Investing.

I prefer to be plain when I am telling newbies about Crypto-currency, I let them know it's a digital asset and just as you are to protect your self on the internet, the web you should protect yourself in crypto-currency and just as you should invest wisely in other sector and also know how to trade stock first before proceeding you should do the same with crypto-currency.
Crypto won't take away all your problems but it would make financial system better than the traditional financial system.

Yes, people already know the advantages of bitcoin here. Maybe some people don't fully know about the advantages of bitcoin but also there are other advantages of bitcoin which not mentioned in the thread. 
Yes bitcoin has some disadvantages but not as serious as central banks and fiat.

Bitcoin is a digital currency that has its own set of advantages and disadvantages. Some of the advantages include being highly liquid, transparent, and relatively safe. However, investing in Bitcoin is volatile, energy inefficient, and lacks proper regulatory oversight¹. It is important to understand both the pros and cons of Bitcoin before investing in it.

In my opinion, even though there many ways of the best use of Bitcoin but trading and investing is the main thing for financial relief. Investors are getting rich because of Bitcoin in just few years compared to their outside businesses especially if they know the secret behind it. In trading, I know it's difficult but if you're really a disciplined person there's a higher chance to be successful in this journey even if you're newbie.

But still you can recommend this forum to ask their personal questions about cryptocurrencies especially Bitcoin.

The end of Bitcoin is in the hands of it's adopters, and it's impossible for everyone to think the same and give up on Bitcoin at the same time, this is how crazy it gets with Bitcoin, the decentralized works as planned, even if a bunch of people decides to hate on Bitcoin and sell their coins some people will buy from them.

Panic, FOMO, and FUD all have a major role thet play with the crypto market, it will take a very long time to finally understand how Bitcoin and the crypto market works, it took me more than a year and I had to live through a bear market to understand the importance of bear market and the Bitcoin halving.

In order to make use of every opportunity that might come your way, you have a lot to learn about bitcoin before you can think that you will get what you won't within months.

Point 4 is totally subjective because as far as I'm concerned, there's no point in waiting for the price of Bitcoin to go higher to make a good profit.  There are 2 types of Bitcoin investors the one waiting for the gain and the one waiting to pay in sats.

It is very stressful for newbies who need many months and maybe four to five years to understand about this market. It's not easy and financial relief. They must understand the market psychology but it is not easy. News are used to manipulated this market because news can affect human emotion and psychology.

Understand market psychology will help you to be less panic with bad news and less FOMO with big news.

Rest points of your post are not interesting and some points overlap each other.

So from your statement, a little conclusion can be drawn that those who want to invest must pay attention to the right time to invest, and this method is done by everyone who invests in bitcoin because it moves them into the realm of profit, but this does not happen to all Investors, whether they are large or medium investors, those who know when the time is right, of course they have enough knowledge and experience in this matter.

And we suggest a little for Investors who so far haven't got the perfect target they want, as well as having to know about the realm of charts and market lines, and from this it requires that they should have the knowledge to jump into Bitcoin Investment because knowledge is an important aspect for profit. them, and the experience they will gain over time.


Maybe the profit aspect will outweigh the losses they get from a Bitcoin Investment, but there is also a need to know about the full loss, because it has a big impact on someone, and to be honest you are responsible for your own digital assets, but we have seen so far Losses are rare, and maybe this happens because they adhere to long-term investments so losses are prone to occur, and they choose to keep holding when prices are correcting in the market.

Anything like what?
Government?
People?
Centralized Institutions?
Hack?
Scam?

As far as am concerned, nothing can stop the progress of bitcoin, not even the government, as far as bitcoin network still maintain the same protocols it works by on the blockchain.


All this you stated aren't a disadvantage of bitcoin because each individual is responsible for the bitcoin they hold, you cant blame the government or banks for being responsible if you lost your money or got attacked, if you lost your bitcoin or risk it under attack that's your own fault and vulnerability.


But i taught you're to enlighten more on the disadvantages of bitcoin but now seing you talking about it advantages, which means even tou cannot figure out any disadvantage related to the use of bitcoin since the whole opportunity with bitcoin adoption is on a decentralized p2p network, which means by default you're in charge of your digital finance.

If you want new people to know about the advantages of Bitcoin then it's not the place, we all here know that. But your points are valid, can't deny that.

I think other writers has outlet the benefits of bitcoin and none benefits of bitcoin before, I don't need to praise bitcoin much because its just a technology and anything can interrupts the chances of it prolonging values.
1) From what I have observed  in bitcoin its a financial relief when you know the secrets behind the uses of bitcoin and some of the investment.
2) bitcoin have some of disadvantages which we are not supposed have all our hope in bitcoin, sometimes the mistakes of people lossiing in bitcoin investment is as a result of improper explanation and orientation when coming to invest in bitcoin.
3) bitcoin is like a life bencher for lawyers, why in financial aspects bitcoin is a freedom it doesn't have who control it.
4) having much benefit in bitcoin is when you know the good time to invest in bitcoin, like sometimes profit in Bitcoin investment is determination by the amount used for invest.
5) I want new people to know that the advantages of bitcoin investment is higher than the disadvantages if you take your investment plans serious.