"cash in, cash out" - page 2. | Bitcointalksearch.org

qwertyup23

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Quote from: BitcoinBoss on October 02, 2021, 09:32:35 AM

What effects, both positive and negative, does the fact that a substantial proportion of people that invest or get involved with Bitcoin in the first place, have the intention of making profit in a fiat currency as their primary objective? There are many people who do not fall within this category and many, who start in this manner, that then take on other ideals and ambitions. There are also many who want to "cash in, cash out".

I think generally speaking, BTC is a form of investment which renders the majority of people considering this as an alternative way of income. Though the "super rich" people might see BTC as an form of utility rather than profit, the majority views it as an opportunity to earn extra income.

As someone who is living in a third world country, the opportunity of earning BTC for long-term investment is huge. The fact that I am engaged into this innovative idea that might replace the conventional fiat in the far future is an opportunity that I do not want to miss.

verita1

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I can only comment on my own experience. Since I got involved with bitcoin, my way of thinking and seeing money was different. Bitcoin changed my lifestyle, I am not one of the ambitious people, I am one of the fair people.

I recently made some purchases to make repairs in my house, the owner of the store where I bought I could verify that she is one of those usurious merchants but due to the need to acquire my products I did not give it importance. I told myself that I will recover my loss at any time because I invest in bitcoin.

DapanasFruit

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Binance #Smart World Global Token

No one will ever get into something without getting something in return. This is one of the many laws that human nature has adopted into since time immemorial. Heck, even if one is into charitable kind of thing, there are things that one is expecting to experience in doing such...now how much more in Bitcoin which is now a financial instrument? We all want profits because we have many things we want to buy, pay and plan to do in life. And there is nothing really negative with this mindset and if there are, then those are just imaginary or maybe temporary in nature. Bitcoin will never survived until now if this kind of mentality can stop something from growing...and if it does then that something is actually weak in itself and could not survive in a competitive environment in the first place. In fact, I would say that this can be a big test to any asset in an open trading market.

Oilacris

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Quote from: BitcoinBoss on October 02, 2021, 09:32:35 AM

What effects, both positive and negative, does the fact that a substantial proportion of people that invest or get involved with Bitcoin in the first place, have the intention of making profit in a fiat currency as their primary objective? There are many people who do not fall within this category and many, who start in this manner, that then take on other ideals and ambitions. There are also many who want to "cash in, cash out".

Investment would be always having that primary motive which is to make profits.It doesnt matter whether you do take profits in short time basis or would take profit in years to come.

Of course people would always be minding about converting their crypto into fiat because this is on where you could really consider out to be called profits.Cash in and Cash out you do say?

Its none of our business on how people would handle out their investment.We could have those bad impressions but to think we are sharing off the same motive.

20kevin20

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Whether we like to admit it or not, there are only very, very few out there who truly don't care primarily about the fiat value. Some of the real OGs of Bitcoin have been this way, but many of them have turned into fiat-hoarding investors as well. Fiat is what allows you today to survive in our current world, so it's normal to see lots of people looking for it.

I think in fact the % of people who hoarded fiat before vs the % of people who are hoarding it today is not very different. It's our nature, to say so. The biggest (and I think the only?) disadvantage is that these guys don't care at all about the changes in Bitcoin's protocol or government rulings for real. What this results in is that most surveillance/shitty laws get passed just because the average Joe doesn't care about it as long as it makes Joe's wallet grow.

One of the biggest advantage is that these guys are usually weak-handed, so whenever the market drops the weak ones get shaken off and when the markets grow back up they're hoarding again. It's an almost infinite cycle of potential profit and possibilities to re-enter the markets from a lower price.

kryptqnick

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Quote from: BitcoinBoss on October 02, 2021, 09:32:35 AM

What effects, both positive and negative, does the fact that a substantial proportion of people that invest or get involved with Bitcoin in the first place, have the intention of making profit in a fiat currency as their primary objective? There are many people who do not fall within this category and many, who start in this manner, that then take on other ideals and ambitions. There are also many who want to "cash in, cash out".

The fact that it's very easy to buy and sell Bitcoin for fiat is positive because it gives people reassurance that it's something valuable and that they will be able to fall back on fiat if they feel like it. The fact that people tend to care about profit in fiat and don't see Bitcoin as valuable on its own is sad because it means many don't care what Bitcoin offers but instead see it merely as a means to get rich and to use the real money (which for them is fiat) to buy things.
So it's encouraging to see companies accept Bitcoin as money, but given how limited these options are, some people might be so fiat-focused because they don't see it changing, not because they wouldn't want it to change and wouldn't be willing to use Bitcoin directly under different circumstances.

Baskeyairdrop

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Quote from: BitcoinBoss on October 02, 2021, 09:32:35 AM

What effects, both positive and negative, does the fact that a substantial proportion of people that invest or get involved with Bitcoin in the first place, have the intention of making profit in a fiat currency as their primary objective? There are many people who do not fall within this category and many, who start in this manner, that then take on other ideals and ambitions. There are also many who want to "cash in, cash out".

No one wants to venture into anything that is not profitable but if I understood you properly, are you saying most venture into bitcoin as a means to make profit but get to find out that there is a lot to it than what they thought? If so, then I must say you are right. Most people have gotten more exposed as they venture deeper into the world of Cryptocurrency in general. We learn daily as long as we put our mind to it.

Saidasun

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Quote from: hatshepsut93 on October 02, 2021, 11:19:29 AM

Positive: Bitcoin gets more publicity, the market gets more volume which is always a good thing

Negative: when most users are investors, it's easier to take over Bitcoin. Imagine government saying that either Bitcoin protocol will have to change or it will get banned. Most investors will support this fork because it will protect their investment at least in short term, so the majority of PoW and money will be on the side of the fork, and true Bitcoiners will be left in the minority. They will keep calling the original chain Bitcoin, but for the rest of the world the new chain will be Bitcoin.

Temporary volume is not good I do not think for the survival of Bitcoin and does not help us in the long term. I do not think increased volume atm has any positive effect. The negatives of people buying in Bitcoin and then selling at a later date for fiat are more prominent then the pros. The pros are that a lot of people have made a huge amount of money because of the swings in price difference and more and more people are hearing about Bitcoin which makes these swings more common but when that stops Bitcoin needs to be used as a currency because these swings will not happen as often as they do now. The problem I see with that is when this does happen Bitcoin has issues with fees and not a lot of merchants accepting it and the value could take a big hit because of these reasons.

hatshepsut93

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Positive: Bitcoin gets more publicity, the market gets more volume which is always a good thing

Negative: when most users are investors, it's easier to take over Bitcoin. Imagine government saying that either Bitcoin protocol will have to change or it will get banned. Most investors will support this fork because it will protect their investment at least in short term, so the majority of PoW and money will be on the side of the fork, and true Bitcoiners will be left in the minority. They will keep calling the original chain Bitcoin, but for the rest of the world the new chain will be Bitcoin.

maju69

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Even it can be said that 95% of the facts that have made investors to double their finances. The cycle is short fiat to crypto then crypto to fiat. Just take a share of the profits. But the difference is with the Holders who overlook their short-term profits and leave the profit line to be taken by day traders. Brands tend to be more appropriate as investments, while those who take short-term benefits are only traders,

UserU

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My passive income eBook @ tinyurl.com/PIA10

No one wants to lose, that's a fact.

Those simply ask to HODL is no different than the greedy sharks and whales out there. After all, every investment is a zero sum game.

Without cashing out Bitcoin or any crypto, you can't realize your profits that can be used for your daily expenditures or buying something you always fancy, like an iPhone.

electronicash

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it's true that most of the people who come to crypto expect a very high profit especially because they only wait for the bull market to come just like what happened in 2017. those who got disappointed in 2018 may still be here cashing in and out but i don't see the greater effect except they really add the volume in the market which is now more than $2T industry. majority of the new investors have the intention of making money as their objective. isn't this what goes on in forex and stock market too?

BitcoinBoss

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What effects, both positive and negative, does the fact that a substantial proportion of people that invest or get involved with Bitcoin in the first place, have the intention of making profit in a fiat currency as their primary objective? There are many people who do not fall within this category and many, who start in this manner, that then take on other ideals and ambitions. There are also many who want to "cash in, cash out".

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