Topic: I love Bitcoin - page 3. (Read 1685 times)

Bitcoin is a bright star in the market that makes little known about the technology behind it, which is also an equally bright star: blockchain. One can imagine Bitcoin as the boss of a contest and Blockchain as the organizer. The organizers are responsible for distributing the questions to the contestants and keeping the contestants playing according to the rules. And the boss will take on the glorious task of giving gifts to the winners. So the fact that it was created as a gift, although it cannot be held by hand, makes its value very "real".

Your points are valid I completely agree. There are various reasons why individuals are drawn to Bitcoin which includes all you've stated. The fact that there are only 21 million bitcoins available adds to its perceived worth as a store of money.


But then,
"I use Bitcoin every day" I suppose, this is a hyperbole cuz it's almost impossible to use bitcoin in everyday’s transaction, as acceptance of bitcoin as mode of payment is not yet generally accepted, thereby limiting its usage in daily transactions. Using Bitcoin for daily transactions might not be feasible for most individuals due to several factors. Bitcoin's transaction fees and confirmation times can vary, making it less practical for small, everyday purchases such as transport fare, personal care items, groceries, etc.

If people have learned about Bitcoin then they must have a desire to own it, just like you who already know how Bitcoin travels, and I am sure you currently have a lot of Bitcoin because every day you always use Bitcoin of course this is something you should be proud of, and now the use of Bitcoin is increasing and many new investors are already investing and they are very confident the value of Bitcoin will reach a new ATH for the future, So we should all be able to get the most profit when Bitcoin increases later.

People who use Bitcoin and know well about  bitcoin, They love Bitcoin.There are also many reasons that make me love Bitcoin and one of my favorite reasons is that Bitcoin is completely decentralized and financial transactions are easy. Bitcoin investment is much easier and cryptocurrency has paved the way for further innovation in the form of blockchain technology.There are also many examples of Bitcoin investing where many investors have become rich.

The divisibility nature of Bitcoin makes it possible for anybody to own Bitcoin.
Even if Bitcoin gets to $1 million/1BTC, anybody would still be able to own Bitcoin. If it's $30 you have, you can use that to buy $30 worth of Bitcoin. An upper hand Bitcoin has over other investments like Gold, Real estate, and stock,  is that you don't need to break the bank to own Bitcoin.
One goal for Bitcoin is adoption, and adoption is not only when lots of people begin to own Bitcoin, it's also when you can use Bitcoin for payment in any part of the world you are in and at any time. So there is no way this goal can be achieved if only a selected few can hold Bitcoin in the future.

Everything you said is absolutely right, but I must say that there are instances when a person has to invest some money into physical assets and for that reason I said gold can be a better option. I also think that Real Estate is a good option in the realm of investing on physical things but only those who have good amount of money can delve into it, and those who have not much money can't benefit from the thing. I also think that gold is better as compare to other commodities because it may not be very profitable but it won't let your investment down because it isn't volatile and the holders will get something in their cup in future.


In the world of digital assets, nothing can compete with Bitcoin. It's more than 1,000x better than gold and any other physical asset as a form of investment. Bitcoin can grow huge in future, and I'm also a firm believer of that theory because it has that potential of growth. I'm also not a fan of altcoins but there are some altcoins that could be useful as investment options. Some altcoins like Litecoin, XMR Monero, and in some cases Ethereum might not be bad choices for long term investment, because all of them have the potential to grow big in future, and I'm pretty sure that Litecoin will grow bigger in a decade or two, and the investors may get some good profits from their investment. Most of those altcoins can grow at least 10x in a decade, and I believe that they're even better as investment option than gold.

Therefore in this case learning is important. we are all beginners at first and of course it is very natural when fear is in it regardless of anything this is a condition where our money is at stake so for someone with minimal experience there will definitely be a condition where they are afraid and doubtful. therefore, learning and continuing to look for related information about what we want to achieve in bitcoin must be carried out because regardless of anything this is an important factor in my opinion.
On the other hand, when talking about actual shitcoins, there are also conditions where thinking and greed are always present. I have experienced conditions like that where the simple initial thought about shitcoin with its pump can bring big profits without the need to be in a long condition but of course it will make us more aware that being in shitcoin is just a big wishful thinking without any certainty and actually plunge us in the end.

Nice one bringing this one to the surface. I was actually going to say, not everyone here loves bitcoin.
Some has got some far much malicious intent for being here. Some are here just to spread FUD.
I wouldn't want to believe that there are not some individuals or even agencies registered with some user and stays anonymous like the rest of community members out here seeking loopholes to explore and maybe crumble the system or a person.
The goodnews for most users is,
The guidelines have been laid down from the foundation of the forum and should you continue to be your best and do your best, your going to have very less issue and your investments would come by little loses if ot should at all.

While surfing the forum, remain selective on the information you consume but, don't let hate or rejection make you shy away from the truth when you see it. It won't make the lie you know any true.

Because this is a Bitcoin forum, it does not mean everyone here is a lover of Bitcoin; we have lots of Bitcoin racists here in the forum as well. @ Bitcoin SV is not a lover of Bitcoin yet he's actively here to promote his project and everything seems to be against Bitcoin with his belief of having a better project than that of Bitcoin, and there might also be many more others who are actually here not because they love Bitcoin but because they are here just to benefit from the forum in any possible way that they can... So when speaking about loving Bitcoin, I will advise you to remove the word "we" (all) and use "I," because you can only be sure of yourself and not what others feel.

I think all members here love bitcoin. It's great that Bitcoin has had such a positive impact on people's lives in the community. It has really brought new opportunities and possibilities to those accumulating wealth or having a side job. The alias nature, decentralized structure, resistance to control and censorship, or even the limited supply of Bitcoin, etc. are all reasons why we like and love it. These things have attracted investors as well as enthusiasts.

Hahahaha

Speak for yourself OgNasty... or maybe your use of "we" in your last sentence was really the "royal we."

 

I love Bitcoin too and think it's important to separate money from state.  However, the rest of your comment doesn't really ring true anymore.  Bitcoin can't scale to help everyone be their own bank and fees are so high that the people who need it the most are priced out of using it.  Sure, you have terrible solutions with no chance of becoming a long term fix like Lightning that think they will be able to solve this problem, but that has been shown to be bullshit with the recent Ordinals "attack" on the network.  Bitcoin is no longer about being your own bank, it's about being one of the haves instead of the have nots.  It has lost it's way, but hopefully we can all get rich enough not to care about selling out our fight to change the world for the better.

Prior to March 2020, I used to recommend that any initial consideration regarding how much to invest into bitcoin should be in the range of 1% to 10%, so after March 2020, I changed my recommendation range to increase the higher end of range of the investment amount up to 25% in terms of what I believe that the newbie investor should consider.. mostly because I think that March 2020 showed the investment thesis for bitcoin to be stronger..  and I was also wanting to communicate aspects of my own change in perspective through what I was suggesting to be a good starting range for any newbie to consider.

In the end, each investor is responsible for what s/he does (whether newbie or advanced investor).  I take absolutely no responsibility over people relying on my assertion and if they lose money it is exactly their fault for whatever decision that they make, how they structure whatever they do and whether they got their shit together in regards to their own finances and psychology.

 I am not going to back off in my attempt to communicate what I believe to have changed in what we know about the economy since March 2020 and in how I attempt to communicate my recommendations regarding how people consider to invest into bitcoin, and also there are a lot of particulars in regards to individual investors and the shit that they personally have to get together to make sure that they are investing from discretionary income rather from cashflow that they actually need to cover expenses.

I believe that I am being conservative, and people have to figure out if they are on the high end of the range or the low end of the range or if they want to go outside  of the range.. I am not responsible for what they choose, even though I can continue to assert that I believe that after March 2020, there are circumstances that seem to justify why I recommend a higher range for newbies to consider.. and yeah, maybe my recommendation does not ONLY apply to newbies, because there could be some people in bitcoin that may well have been here for a while and need to reconsider the extent to which they feel that they have enough bitcoin and if they might need to up their game into more aggressive rather than previously having had been overly whimpy in their approach and thinking about their bitcoin stash.

So if people do not have their shit together sufficiently enough in order to figure out their own discretionary income, then that is on them.. not on me.

Another thing that I started to do after March 2020 is to suggest that people get the fuck off zero, and prior to March 2020, I would suggest merely $10 per week as a good but relatively whimpy investment into bitcoin that could make a decently large difference in wealth over time; however, after March 2020, I began to lead out by saying that you better do $100 per week..

Due to the money printer go bbbbbrrrr philosophy/policy/practice that was pretty clearly communicated right around that March 2020 time (or in response to various liquidity and lack of confidence issues of that time) $100 per week has become the new $10 per week.. .. so get the fuck off zero, start putting in $100 per week, figure out the details of your finance and establish your bitcoin accumulation strategy that is such a level of aggressiveness that is aggressive but not so aggressive that you end up recking ur lil selfie because you failed and refused to actually sufficiently/adequately account for your own expenses (including maintaining various emergency funds)..

And, yeah, if you only earn less than $800 per month, and you have $600 per month in known expenses, then mathematically you better figure out that you are not in a position to invest $100 per week and you might not even be able to do $10 per week, so you gotta figure out for yourself how aggressive that you can be without being so aggressive that you end up recking yourself.  That's not on me.   People are responsible for themselves, but I am still going to say that $100 per week is almost like $10 per week was prior to March 2020.

Another thing is that each of us is responsible to exactly figure out his/her particulars.. and it can take a decently long time to figure out personal particulars, but in the mean time anyone can still start to figure out how to start to buy BTC and maybe find some avenue in which s/he is able to DCA into BTC at a level that works in terms of balancing fees/costs for obtaining the quantity of BTC that s/he is acquiring on a weekly basis, and even though I recommend figuring out the target level of BTC that you want to aim to achieve and that in the beginning that you might want to be aggressive enough that you are accumulating BTC every week, I understand that there might be some people who have situations in which it is not really practical for them to employ the strategy like I am suggesting (a kind of gold standard approach) and they have to figure out for themselves what is more practical for themselves to maximize their own attempts to reach their balances and their ways of attempting to improve their lot in life.

By the way the personal considerations that each of should be attempting to get under wraps (and consider to our own situation) are cashflow, how much bitcoin you have already accumulated, your other investments (including cash reserves), your view of bitcoin as compared with other investments, timeline, risk tolerance, and your time, skills, goals (investment/lifestyle targets) and your abilities to strategize, plan, research and learn along the way including tweaking strategies from time to time to consider trading, reallocating, use of leverage and/or financial instruments.

It can take a long time to figure out each and every one of the subcategories within the above-outlined individual considerations, yet no one has to figure them all out at one time or before getting started investing in bitcoin.. and accordingly any person could start by investing relatively small amounts or investing some amount that they believe to be reasonable and prudent - and continue to study their own circumstances along the way, and perhaps tweak their investing strategy from time to time along the way, as they are learning.


I agree with you, but you cannot really stop people from thinking that they are smarter and wanting to get involved into the various crap and into believing the various talking points about the crap.. so yeah.. I don't know how to stop people from doing that.. except just to state the matter clearly, and people are responsible for their own gambling tendencies, their gullibilities towards wanting short cuts in terms of getting rich quicker, and their failure to sufficiently/adequately understand the value proposition of bitcoin.


Sure.. nothing wrong with that... and nothing wrong with potentially taking a gradual approach, but I would not necessarily be so patronizing to presume that some newbies might not be able to figure out some prudent ways to be more aggressive and go higher in the range or even higher than you might be recommending as a starting out range.. people have to figure out the details for themselves, and I provide a range that is so wide but still at the same time telling them they gotta figure out what works for them.

When I got into bitcoin in late 2013.. I did not exactly know what my goal was going to be in terms of percentages, so I gave myself a bitcoin allowance for the first 6 months .. .so I ended up dividing the total amount in that allowance into 26 parts in order that I knew what my weekly allowance would be, and then around the end of that 6 month period I had to consider if I would give myself an additional allowance amount or to discontinue or to take some other approach.. so largely at the end of the first 6 month period, I extended mostly what I had already been doing for another 6 months, and it was not until the end of the second 6 month period (which was towards the end of 2014) that I figured out that I wanted to aim for 10% of my overall quasi-liquid investment portfolio (as I had then calculated it to be) would be into bitcoin. 

However, the whole of 2015 the bitcoin price had continued to be down, so largely I ended up continuing to buy bitcoin, and by the end of 2015, I had figured that I had reached somewhere around 13.5% of my investment portfolio amount into BTC..so in some sense I considered that extra 3.5% to have had been a kind of overallocation, but my own ongoing investment and interaction with my investment portfolio (and how BTC related / fit into it) helped to better inform me what I wanted to do next and how I wanted to attempt to maintain and manage what I had considered to have had been an overallocation that I had chosen to do based on my then circumstances.

So part of my point is that any of us can attempt to create individualized BTC accumulation and then maintenance and then liquidation strategies that would hopefully be attempting to account for our long term considerations; however, at the same time, as we work towards reaching our goals, our progress and likely our increase in stash and maybe even changes in value of BTC might help to better inform us in regards to our  own particulars if we still remain in an accumulation stage or if we graduate towards more of a maintenance stage, and it could take someone more than 10 years to start to feel that s/he is getting out of an accumulation stage and into a maintenance stage.. so there will surely be individual particularities that will need to be applied.


I don't really disagree with what you seem to be saying, even though I see what you are saying to be somewhat incomplete - especially since bitcoin has frequently been compared to gold in terms of what people can understand in the historical investment world and even in terms of what it seems that was attempting to be achieved in regards to bitcoin and even how satoshi and other cypherpunks would frequently talk about gold and rationales to have a money that does not steal from us... so if we end up having something like physical gold that is solid and tangible and historically used as currency because of several of its attributes, including difficulties to manipulate, but then over the years, there have been more and more ways that gold ended up getting manipulated, so even gold does not live up to what it is supposed to be able to do.


I doubt that bitcoin's volatility gives it value exactly - even though indirectly you are correct that part of the reason that bitcoin has ongoingly expected volatility that continues to be likely to go upwards and to the right is because bitcoin is still in its early stages of adoption and it is likely around 1,000x better than gold.. so it could take a while for bitcoin to reach its market potential and market maturity.. perhaps 100 or 200 years, so in the meantime, it does seem likely that bitcoin will continue to grow - in spite of various battles along the way, and perhaps even some intense battles along the way from the status quo rich (and financial) systems to perceive that they do not benefit from the objectivity that bitcoin provides rather than the places of privilege that a lot of the status quo rich have been holding to preserve their own wealth and to not allow others to easily get into such positions... and bitcoin likely will continue to cause transfer of wealth from the no coiners to the coiners.. and sure some of the status quo rich might get into bitcoin early and be rewarded for such, and some will refuse to get into bitcoin and see that they are likely going to end up losing out to those who had been investing into bitcoin.

We all love bitcoin, that’s why we’re here right? Bitcoin has changed so many lives for the better, the separation of money from state is something so important during these difficult times. Being able to be your own bank s so important to so many people around the world who don’t have access to traditional banking. I know I am lucky to be in bitcoin kind of early, it changed my life.

At least it has become a comfort for us who live in a country that is still friendly to the existence of bitcoin even though it is a commodity asset but I think that is more than enough because what we do in bitcoin is an investment not the aim of being a means of payment, side by side between fiat and bitcoin the country has been called friendly because there are several countries that firmly reject bitcoin as its existence so this will be a concern for its citizens who live there.

I agree with your view, maybe now bitcoin is a commodity asset but gradually it will definitely be adopted more broadly for a country to apply bitcoin widely, we never know how the government thinks in the future what is now expected is that there will be changes that make Bitcoin is recognized in a country.

@JayJuanGee, i see that you understand how to start and investment strategy for someone is just started his bitcoin journey because,he hasn't really trusted bitcoin but he has been convinced on bitcoin investment that it is profitable. A newbie wouldn't want to allocate up to 25% on bitcoin because he hasn't have that confident in bitcoin and whoever introduced him into bitcoin will tell him that bitcoin is risky and he should invest with money that he can afford to lose. A newbie shouldn't even think of investing in altcoins  because shitcoins are short term investment and can make one loss out when you hodli for up to 2yrs or more. As time goes on and that newbie begins to understand the potential in bitcoin and bitcoin technical analysis,he can choose to increase his bitcoin accumulation from 1%-5%,depending on his cash inflow and so on. Finally,when he is grounded on bitcoin,he might increase his bitcoin accumulation to 10%-25% range. Gold can't be compared to bitcoin in terms of profit if you either invest in short or long term. This reason is this,bitcoin has a high volatile nature which makes it the best investment on earth.

You guess, which means you are probably not sure; some part of you still doubts the truth. In politics, 99% loyalty is not enough for your political godfather to trust you with the mantle of leadership. But that's not the case here.


To me, the journey is not just starting based on the current Bitcoin price today and the amount of halving that has happened and the number to which the block reward has reduced. I don't think the Bitcoin journey is just starting. We have seen $60+ before, and now we are at a struggling price of $25k+. The journey is not just starting; I can say Bitcoin is making continuous progress, but it's never just starting. It's already been more than 12 years since the beginning of the journey.

All Bitcoiners are already using their preferred strategies to make profit: buying more, holding, or selling and taking profit. Not everyone supports the long-term locking of assets as if they are never used to be spent

Already many countries are gradually becoming more bitcoin-friendly and accepting it. But considering it as a currency, a payment method, very few countries do it, most are just legalizing it as a commodity or property. So you don't have to be disappointed with that. I don't know if that will change in the future, but you can hope because many years ago, many governments had a hostile view of bitcoin, but gradually they changed their mind and accepted it. To me, bitcoin is a scarce asset, so I prefer it as an asset rather than a currency.

Bitcoin still not allowed in my country Indonesian as legal transaction payment, we will face trouble with the law if transaction using Bitcoin and last month the tourism should deportation to their country because made Bitcoin as payment currencies with our people. Indeed my country not legal bitcoin as payment transaction I LOVE SO MUCH WITH BITCOIN, almost raise freedom financial after knowing with bitcoin.

I don't know about my self can't travelling to every where without know with bitcoin, when start investing in Bitcoin earned much profit actually first time know with Bitcoin when price still cheap.

Giving bitcoin all these praise without you holding a bitcoin doesn't show a love for bitcoin, like as you said earlier.

I think this part of your story doesn't seems to be true because it's hard to spending bitcoin in real live to purchase physical goods and properties, except to few country.


Here is another lie, I am sure you are far more older than bitcoin and when bitcoin weren't launched haven't you been doing well and fine probably conducting your day to day activities without any hinderances?
One thing I must say is that we have to stop making it as if if there are no bitcoin there wouldn't be any transaction or life won't smoothly go on.

My question is, what about those who are not yet to embrace and venture into bitcoin, but already a Millionaire and Billionaire doesn't it mean they won't perform their transaction anymore without using bitcoin?

On a normal stance, Bitcoin was only created to foster the means of transactions as you may have outlined already but overhyping it doesn't give any meaning or value.

Yet your way of understanding would never be the same as others who never ventured into it before, using these steps to convince those who aren't yet into bitcoin might sees you as some who wants to scam them. Practically someone like me would come to a conclusion that all you are saying might entirely be fallacy.

What I know and Believed is that it was created to foster and, assist fiat in terms of transaction and for that would never compete with fiat despite its exponential increase and value whereas people see's it as a store of value and investment. Yes making investment is a very cool and pretty decision because of it sudden profits it gives in returns.