Can you give one reason why I should buy bitcoin? - page 2.

LittleBitFunny

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Quote from: Sayeds56 on June 03, 2023, 08:39:12 PM

Quote from: skarais on June 02, 2023, 12:26:28 PM

Of course there are many advantages of bitcoin over fiat, but it has a different purpose to buy bitcoin. Some people only use it as a payment alternative, while others make it an investment and trading asset. Simply put bitcoin is a great currency or investment asset, not just fiat and other investment assets where decentralization is one of the things that makes user feel like he has bank in his hands.

You are correct that Bitcoin has several advantages over other traditional fiat currencies, and one of them being cross border transaction fee which is much lower compared to using traditional banking channels for this purpose. In my view the key advantage of investing in Bitcoin and holding it for long term, is its unmatched returns which is evident from its track record of past 15 years since its inception, despite the fact that it is highly volatile asset.

In addition, we also need to mention that when using bitcoin, it ensures our privacy and helps us to be our own bank without having to depend on anyone. If talking about the utility of bitcoin in life, what I like most is the privacy it brings, I feel safe when my main asset is bitcoin, and only I have access and control.
As for investment, it is true that we will get huge profits if we invest in bitcoin properly. But let's not forget the risks we face if we invest the wrong way or see it as a get-rich-quick strategy.

bayu7adi

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Quote from: kaseygriffin on June 02, 2023, 01:13:02 PM

Don't let others rule because the finances are yours anyway; be comfortable and confident in your decisions with what you know, and also don't forget that you have to take risks with them.

Indeed, it is true. However, obtaining alternative information from different perspectives might bolster our self-confidence when making decisions, whether to invest or not. Although the risks lie entirely in the hands of the user, others can provide support and information regarding existing opportunities to strengthen our self-assurance.

Even to this day, financial consulting services remain highly sought after by individuals. For each person requires viewpoints from different angles. This world is vast, my friend. So never disregard information from others.

Iranus

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Quote from: mvdheuvel1983 on June 02, 2023, 10:47:51 AM

- Bitcoin can you a millionaire if you hold long enough.
.

Are you sure this is true? If you bought bitcoin in 2009 when it wasn't of great value and kept it until now, that is correct. But if you start investing now, I'm not sure, and to become a dollar millionaire, you need to invest a huge amount of money. And if you only invest a few thousand or tens of thousands of dollars in bitcoin, you cannot become a millionaire even if you hold it long enough.

Quote from: mvdheuvel1983 on June 02, 2023, 10:47:51 AM

- The government knows its potential and is trying all they can to crush it. Remember that when the government tells you not to do or buy anything, do not believe them.

I don't think the government is looking to stifle bitcoin, but rather they are looking to control it, but they have a lot of trouble, and I don't think they will succeed. They know its potential and also want to use it at their disposal, they are not going to destroy something with such potential.

Sayeds56

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Quote from: skarais on June 02, 2023, 12:26:28 PM

Of course there are many advantages of bitcoin over fiat, but it has a different purpose to buy bitcoin. Some people only use it as a payment alternative, while others make it an investment and trading asset. Simply put bitcoin is a great currency or investment asset, not just fiat and other investment assets where decentralization is one of the things that makes user feel like he has bank in his hands.

You are correct that Bitcoin has several advantages over other traditional fiat currencies, and one of them being cross border transaction fee which is much lower compared to using traditional banking channels for this purpose. In my view the key advantage of investing in Bitcoin and holding it for long term, is its unmatched returns which is evident from its track record of past 15 years since its inception, despite the fact that it is highly volatile asset.

Marvell1

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Quote from: Z390 on June 03, 2023, 06:39:57 AM

I won't give you one, because it doesn't look like you don't know anything about Bitcoin, ...

It's confusing that he's so lazy that he can't do his own research because it's all on the internet. Moreover, he doesn't trust his friend, will he believe what we say? And I'm sure that, no matter how detailed we explain it, it can't be more complete and detailed than doing it all yourself.
This makes me feel, he wants to find someone to blame if the investment goes wrong, he doesn't want to bear the responsibility but wants to receive a reward if everything goes well. Not only does he know nothing about bitcoin, but what he says makes it sound like he is a very stubborn and conservative.

Z390

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I won't give you one, because it doesn't look like you don't know anything about Bitcoin, I will or can only talk about why I am investing in Bitcoin, I just want to be successful and the hardest part of getting successful with Bitcoin is accumulating the heck out of Bitcoin with the money that you won't be touching for the next two to three years.

The only way to survive this is by making money from your business and also running a side hustle, I am already doing this, and as a successful farmer, I am still making some money through that too to support my family, I won't force anyone to invest in Bitcoin as I have failed to do so in last few months, I am surrounded by those who believe that everything related to crypto and online is scams.

The only way to prove them wrong is to let your crypto success speaks for itself.

kaseygriffin

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The decision to invest in bitcoin or any other asset is ultimately up to you and your circumstances. Do your own thorough research and educate yourself about the risks and benefits; there is a lot of information on the internet. As long as you take the time to learn it, you will not have to worry or wonder about this problem. Don't let others rule because the finances are yours anyway; be comfortable and confident in your decisions with what you know, and also don't forget that you have to take risks with them.

Ndabagi01

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Quote from: Bruce4 on May 22, 2023, 02:04:26 AM

A friend of mine once told me that I can become very by investing in bitcoin and cryptocurrency.
According to him,he said some crypto analyst and experts have long predicted that bitcoin has the largest transfer of wealth and affluent
The world has ever seen and that most of them that are investing in it will be the ones to be rewarded.
I'm certainly not convinced about this information that he gave to me...I want better ideas and enlightenment on why I should buy bitcoin.I need help please!

That is something you must decide for yourself, buddy. If there is a cause for you to accomplish something and you are not satisfied and have doubts about it, it suggests you are not yet ready for the investment. Bitcoin is not new to the the world, and there are many websites, books and publications on it that you can read about in your spare time to learn more about it. You can now invest in bitcoin if you've gone through everything and are satisfied with your research. For the time being, no one can provide you a persuasive reason to do so; we don't do that here.

summonerrk

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Quote from: mvdheuvel1983 on June 02, 2023, 10:47:51 AM

Quote from: Bruce4 on May 22, 2023, 02:04:26 AM

I want better ideas and enlightenment on why I should buy bitcoin.I need help please!

Why you should buy Bitcoin? Here you go:
- Bitcoin can you a millionaire if you hold long enough.

At the same time, the sooner you buy it, the faster it will make you rich. Bitcoin, unlike in recent years, shows a new trend - a sharp increase

Quote

- Bitcoin equals freedom. You are free to own your money/ wealth and be in charge of it. It is like being the chief security officer of your money.

Everyone remembers their first withdrawal of money. That's momnet when the every cryptomaniac understands - he can earn money with his knowledge, and that's fine!

Quote

- The government knows its potential and is trying all they can to crush it. Remember that when the government tells you not to do or buy anything, do not believe them.

At the same time, they often buy cryptocurrencies themselves. More precisely, rich politicians tell their money managers what to do. And those, seeing the potential of cryptocurrencies, of course, buy it and store it for them.

Quote

- it has more real life use cases than any financial instrument in the world.

It's very cool to talk to a friend on the phone, while sending him cryptocurrencies, and no intermediaries! It amazing!

Quote

- it is cool to invest in Bitcoin.

It's very cool to be independent, and its a little forbidden. We all love it

Litzki1990

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You should educate yourself about the technology, market dynamics, and potential risks involved. There are many different resources available online, such as reputable crypto sites, white papers, academic research, and financial news outlets, that can provide valuable insights. Participating in cryptocurrency-specific online communities and forums can also help you learn from experienced investors and participate in industry discussions. Also remember that investing is always risky, and it is essential to only invest what you can afford to lose. Good luck finding a good answer, and I hope you find the information and resources you need to make an informed investment decision.

He only wants to know why he should buy Bitcoin. If he is thinking of buying bitcoins then he will know about these things before buying bitcoins later.

OP There are many reasons to buy bitcoins like bitcoins will give you financial freedom, buying bitcoins will make you a good investment field, buying bitcoins will save money as well as have the potential to grow money. There are many other reasons to buy Bitcoin. When you buy bitcoins you will be aware of the advantages of bitcoins periodically. If OP wants to buy bitcoins I don't think he should have any specific reason behind this purchase. Because there are many advantages of buying Bitcoin.

skarais

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Quote from: mvdheuvel1983 on June 02, 2023, 10:47:51 AM

Quote from: Bruce4 on May 22, 2023, 02:04:26 AM

~~~

Why you should buy Bitcoin? Here you go:
- Bitcoin can you a millionaire if you hold long enough.
- Bitcoin equals freedom. You are free to own your money/ wealth and be in charge of it. It is like being the chief security officer of your money.
- The government knows its potential and is trying all they can to crush it. Remember that when the government tells you not to do or buy anything, do not believe them.
- it has more real life use cases than any financial instrument in the world.
- it is cool to invest in Bitcoin.

Of course there are many advantages of bitcoin over fiat, but it has a different purpose to buy bitcoin. Some people only use it as a payment alternative, while others make it an investment and trading asset. Simply put bitcoin is a great currency or investment asset, not just fiat and other investment assets where decentralization is one of the things that makes user feel like he has bank in his hands.

mvdheuvel1983

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Quote from: Bruce4 on May 22, 2023, 02:04:26 AM

I want better ideas and enlightenment on why I should buy bitcoin.I need help please!

Why you should buy Bitcoin? Here you go:
- Bitcoin can you a millionaire if you hold long enough.
- Bitcoin equals freedom. You are free to own your money/ wealth and be in charge of it. It is like being the chief security officer of your money.
- The government knows its potential and is trying all they can to crush it. Remember that when the government tells you not to do or buy anything, do not believe them.
- it has more real life use cases than any financial instrument in the world.
- it is cool to invest in Bitcoin.

Obari

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Quote from: Bruce4 on May 22, 2023, 02:04:26 AM

A friend of mine once told me that I can become very by investing in bitcoin and cryptocurrency.
According to him,he said some crypto analyst and experts have long predicted that bitcoin has the largest transfer of wealth and affluent
The world has ever seen and that most of them that are investing in it will be the ones to be rewarded.
I'm certainly not convinced about this information that he gave to me...I want better ideas and enlightenment on why I should buy bitcoin.I need help please!

If you don't trust your friend,
How do you expect to trust me or any other total stranger over here? Whatever the case might be, you don't actually need people to tell you things just to get you convinced to invest in bitcoin but rather you should try to do some personal research on the web and gather more information about it since you want to get convinced before investing and mind you, bitcoin is a very volatile asset and at such, nothinh is guaranteed and just as your friend has also promised that you can .amen some good return if done properly and if not done well, you might be faced with losses.
Whatever the case might be, I want to implore you that you should focus more acquire more knowledge than wanting to rapidly make money.
Goodluck

bussybuddy

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Actually, it's not just people here, but you can find those reasons through many articles, pages, news sites with a few keywords accompanied by a google search. I won't recommend how to invest in it, but if you are interested in bitcoin as well as the industry then before you look at the profit target I would like to suggest to you to learn about this market first, can look to the features that this space is addressing for the economic finance sector. And what has been the special case of bitcoin since its inception to the present? Do your own research and give your own perspective, and most importantly, keep yourself optimistic in the process of learning and appreciating all knowledge.

DanWalker

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Quote from: ItsCrafty on June 02, 2023, 07:49:06 AM

Quote from: yazher on June 02, 2023, 07:25:43 AM

You should have at least a fraction of your wealth in bitcoins because you cannot always rely on your other assets when calamity or some disaster will occur. Not only that, but you also need to have bitcoins in order to experience full privacy and ownership of your money without relying on any third party who is keeping your money and they have the option to disable your withdrawal like what we have seen in the recent occurrence when Afghanistan has closed their banks due to some conflicts and denied their withdrawal for all of their clients. This could also happen to us without any doubt to be ready and have alternative solutions, you can always choose bitcoins for that.

I do agree with your opinion. Additionally I want to say that , one reason to buy Bitcoin is its potential in the market, and it has a hedge against inflation. In these times of economic uncertainty or when traditional financial markets experience volatility, investors often seek alternative assets that can retain their value and gave them financial benefits. Bitcoin has demonstrated its ability to act as a hedge during such periods.

Bitcoin does not hold the same value, being even more volatile than traditional assets. With a limited supply, bitcoin was once considered the most effective hedge against inflation we have ever had. But due to its volatility, it did not really play an effective anti-inflationary role during this crisis. In my opinion, it only works when we hold it for the long term, but the short time cannot be compared with gold in fighting inflation.

Quote from: ItsCrafty on June 02, 2023, 07:49:06 AM

However, it's important to note that investing in Bitcoin involves risks, and its price can be highly volatile, but you can get benefits from your understanding regarding market trends.. Governments, significant businesses, and financial institutions have all expressed interest in blockchain technology and bitcoin. The increasing acceptance of Bitcoin by the general public and its use in numerous industries are both possible outcomes of this growing adoption.

If it is already a high-risk asset, it is more suitable for speculation than a safe haven or a hedge against inflation.
I don't see governments interested in bitcoin, but I do agree that demand for bitcoin is growing over time. The need for investment and privacy... makes people increasingly interested in bitcoin.

ItsCrafty

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Quote from: yazher on June 02, 2023, 07:25:43 AM

You should have at least a fraction of your wealth in bitcoins because you cannot always rely on your other assets when calamity or some disaster will occur. Not only that, but you also need to have bitcoins in order to experience full privacy and ownership of your money without relying on any third party who is keeping your money and they have the option to disable your withdrawal like what we have seen in the recent occurrence when Afghanistan has closed their banks due to some conflicts and denied their withdrawal for all of their clients. This could also happen to us without any doubt to be ready and have alternative solutions, you can always choose bitcoins for that.

I do agree with your opinion. Additionally I want to say that , one reason to buy Bitcoin is its potential in the market, and it has a hedge against inflation. In these times of economic uncertainty or when traditional financial markets experience volatility, investors often seek alternative assets that can retain their value and gave them financial benefits. Bitcoin has demonstrated its ability to act as a hedge during such periods. However, it's important to note that investing in Bitcoin involves risks, and its price can be highly volatile, but you can get benefits from your understanding regarding market trends.. Governments, significant businesses, and financial institutions have all expressed interest in blockchain technology and bitcoin. The increasing acceptance of Bitcoin by the general public and its use in numerous industries are both possible outcomes of this growing adoption.

yazher

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You should have at least a fraction of your wealth in bitcoins because you cannot always rely on your other assets when calamity or some disaster will occur. Not only that, but you also need to have bitcoins in order to experience full privacy and ownership of your money without relying on any third party who is keeping your money and they have the option to disable your withdrawal like what we have seen in the recent occurrence when Afghanistan has closed their banks due to some conflicts and denied their withdrawal for all of their clients. This could also happen to us without any doubt to be ready and have alternative solutions, you can always choose bitcoins for that.

riantolie

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I don't think anyone should try to convince you or anyone else to buy Bitcoin. Do you have thoughts about it? Great, now you can do a research and decide it for yourself, not because some strangers on the internet told you to do or not to do that.

Magic-Money

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That is true about Bitcoin investment to be a wealth transfered. To be rich is sure for Bitcoin investment, but not to be rich quick business, because have to give it time after investment at least a minimum of three to five (3-5) years holding of Bitcoin can make a story change. And that is a good reason why you need to buy Bitcoin and hold for Long period of time for a huge return investment profits.

tjtonmoy

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What do you want to do with bitcoin? You need to ask this question to yourself!

Do you want financial freedom?
Do you need somewhere to invest?
Do you want an alternative of banks?
Do you want a retirement plan?
Do you want to hodl something to get a profit from it for a long run?

Well, Bitcoin is capable of doing all of these. So what do YOU want, that's the question. Because from person to person, the choice could vary.
No one can tell you to do something in this situation. Although Bitcoin can give you what I mentioned earlier, but it also contains risks. So no one will come forward to give you a reason. It's totally up to you. All I can do is suggest you to do some more research and make a mindset based on that. When you know the details, you will figure it out on your own.

Topic: Can you give one reason why I should buy bitcoin? - page 2. (Read 1280 times)