Topic: I love Bitcoin - page 4. (Read 1685 times)

Bitcoin is at the top of all cryptocurrencies. Bitcoin has changed many people's lives. So Bitcoin is more preferred and loved by people. Investing in Bitcoin offers good returns.  Bitcoin has given many things to people. Bitcoin transactions are banned by the state, but Bitcoin is being used indirectly. Bitcoin has created so much love in people's hearts that Bitcoin cannot be suppressed in any way. For my part, I also love Bitcoin a lot

I know that I have not explained what I mean very well, and if some one is brand new and brand new to investing, then they might start out with ONLY investing into bitcoin with any extra cashflow that that they have, and maybe if they have an ability to save 10% of their income (and invest into bitcoin) it could still take them around 10 years to build their investment portfolio in which they have an amount that is in the ballpark of 1 years salary (or one years living expenses), and perhaps at that point maybe they would diversify out to some other things besides bitcoin and cash.. maybe property, equities, cash equivalents like bonds and commodities (and perhaps gold, I am not sure about gold, I think that bitcoin is around 1,000x better than gold so bitcoin is likely going to continue to eat gold's lunch since it's current price is around 1/20th of gold.... but hey people can figure out their tolerances and the things that they want to invest into, and maybe they come to bitcoin and they already have other investments, but if they are new to investing, I don't see any reason to diversify out - especially in the earliest of years.. and especially I doubt that it is a good idea to buy any shitcoins.. but people are going to do whatever they decide to do and they are responsible for their own investment decisions.

After 2025–2030, you mean, Bitcoin will be worth more than a million dollars? I would be extremely thrilled if the price of bitcoin reached the speculated level you anticipated by then. The latest ATH of bitcoin was $68k, so for it to soar to a million dollars in 2–7 years would be unexpected and unthinkable. 

However, I predict that the price of bitcoin will rise to at most $100k–$120k following the halving season by next year, which will pave the way for the bull run that will occur from that year through 2025. We can now make predictions about the price we want bitcoin to soar to when we reach 2030, which should be the start of the next two bull runs. As of right now, we are unable to predict the price of bitcoin in two to seven years. Our only hope is that the price will perform far better than past bull runs.

Yeah I guess what you are saying is actually the truth because the love for bitcoin has been imbedded in very bitcoin enthusiast mind and its because of all the benefit it has exposed everyone who have had the opportunity to use it for its various purposes. Bitcoin has a bright future ahead so the best anyone who has some couple BTC should do now is just to hodl your coins but the journey is still just starting so everyone should just fasten their dealt and just enjoy the ride.

That's very true, only 1% in most cases is enough to stake into Bitcoin, and few people will have good portfolio with that much of investment. But, a proper range to add into Bitcoin would be around 10% and more if you have firm trust on it and its potential. The 1% rule may not work for the ones who have very low budget and the best starting range for such people should be around 10-25% like you have suggested. It's always better to have a proper strategy when investing in Bitcoin. My investment strategy is simple because I think the best time to accumulate bitcoin is when the market gets a dip. The dips are actually best for increasing ones investment in Bitcoin and some good Altcoins because during the dips we can accumulate some extra worth of Bitcoin than their regular prices. And, if we start investing 10% of our income or capital into Bitcoin during the dips than our accumulation will be enough within 2-4 years that we can hold for a decade or two to earn good amount in profit.

Aside from Bitcoin and cryptocurrency investments I think one should still save the rest of the 15% for other assets that have the potential to be huge in future. The best investment in that case would be on a asset class that may grow to good price ranges in future. I think in my eyes gold has that potential and it can grow slowly but substantially in price in coming decades, and I believe that 25% of our earning should always be invested in something that could make our future life free from financial issues. The rest of the 75% are enough to enjoy the present moments of life, and to meet our daily needs. I think that way one will never have to be worried when it comes to financial needs. The investment in proper assets is the way to go and someone who's wise enough will always choose such strategy. It's best to have 25% of ones earnings to be invested in Bitcoin, some good Altcoins, and into an asset like gold or something else that has the potential to grow in future.

I agree with you, sir, for a beginner 25% or at least 30% is the highest figure for investing in bitcoin, but that is also with a few notes, because usually beginners who are new to bitcoin still have doubts in them, and that is which is natural considering they are new to and just starting their journey in bitcoin investing. But for me personally, when I have fulfilled my needs, more than that I am ready to put my money in bitcoin, and of course for the long term.
Proper planning is one of the important factors in an investment, and we must think about it carefully before making a final decision. Maybe we could allocate at least 30% of our funds, but when we can only hold it for a few months, I think it's better not to do it. 1% to 10% is better as long as we are prepared to hold on for a long time.
For me, holding bitcoin must be prepared for all conditions, including conditions where we have to hold it for a long time and also for an unspecified time. And that is a sacrifice we must make.

I largely agree with everything that you say in your post SamReomo, yet you do seem to have too much certainty that is embedded within your description of what the future holds for bitcoin, so probably it is better to consider bitcoin as an asymmetric bet that has a lot of upside, but surely no where near towards certainty that any of us know the future - so we have to be careful in order to NOT put too much of our finances or psychology into ONLY the UPpity scenario - even if we consider the odds for UPpity to be pretty great, if not the best of investments currently available.

Another thing is that even if we might have an investment portfolio and we might not even invest aggressively into bitcoin, and maybe ONLY take a 1% stake into bitcoin, we still might end up with a good portfolio, but that is not guaranteed either, and I tend to recommend a starting out range of anywhere between 1% to 25% for a newbie into bitcoin, yet they still have to decide their allocation amount and their strategies in regards to how they get there.. if they might be starting from zero in BTC and then trying to figure out how they might get to their chosen allocation/target level, and are they going to lump sum into it? or maybe they will take one or two years to get to their target level, or maybe longer than 1-2 years.. depending on how much they might have in other investments (and how liquid might be those other investments).

Of course, newbie bitcoiners have to decide for themselves, and they can do whatever they want in regards to how much to allocate into bitcoin and how to get to their goals, including maintaining their BTC holdings as compared with other investments that they have, and even if some of us bitcoiners might develop a somewhat aggressive bitcoin strategy, we still might find ourselves to end up over allocating ourselves into bitcoin and not sufficiently/adequately accounting for needs that we likely have that uses various already established fiat systems, and it would not be a good thing if we overallocate to bitcoin in such a way (because we are so rosy in our vision of its future) that we end up having to sell most if not all of our BTC because we fucked up and did not sufficiently account for some of the difficulties that sometimes can come because status quo systems are likely not going to give up without a fight and they are not even likely to fight clean.. anyone should be able to see various levels of desperation that come out of the various mistakes of the fiat system, and many innocent people get fucked at various points in time that the fiat system is trying to fix its mistakes or to make it appear as if they have everything under control and to inspire the confidence of the general population.. and none of us should want to be a enthusiastic bitcoiner who becomes part of those getting purposefully (or is it incidentally?) screwed because of the mistakes that "need to be" corrected in the fiat space.

What ever you said is absolutely true, and anyone who's buying some amount of Bitcoin in this day is going to get something in future. The people still don't understand Bitcoin and they think that they have lost the opportunity of earning good profit from the Bitcoin. Although, Bitcoin has already changed a lot of things in world and as a trader I must say that crypto trading exists only because of Bitcoin. The other potentials of Bitcoin are mostly ignored by users because they only got attracted to it after learning about the profit it gave to the early investors, but the real picture is too wide and those who have narrow vision won't be able to view it completely. The unique features of Bitcoin makes it one of the best assets in the world and the brilliant investors know that thing.

I think many people still underestimate the potential of Bitcoin and they think that there is no chance for it to grow any further. I remember those influencers who created panic in 2017 that Bitcoin bubble is soon going to blow up like the .com bubble, and poor people with less knowledge about it started selling it in bulk because of the fear. I'm very sure that many of those investors are still regretting their decision of selling it in that bear market and none of them were even imagining in those days that Bitcoin's price could go as high as $68k plus. The same is the current situation with those people who aren't well aware of the potential of Bitcoin and are thinking that regulators and others governmental bodies will cause huge harm to it. But, I would say that such people are less knowledgeable and they will regret their current decision of not investing in Bitcoin. The future is bright for Bitcoin and bitcoiners and the long term holders will see the real potential of Bitcoin in a decade or more.

I believe that the ones who invest in Bitcoin today will have upper hand then the ones who will invest in it after halving event. The price of Bitcoin will definitely grow huge during the halving period and the next dip won't be below previous all time high price of Bitcoin. Even, I would consider those as early adopters because the next halving after the current one will cause huge spike to the price of a Bitcoin that most of the investors may only be able to afford some Satoshi for 1000's of dollars. Soon, the Bitcoin will be the reserve currency for many countries and with such events the investors would put everything into it without rethinking. I'm sure that coming years are going to be the luckiest years for Bitcoin and its adopters, and that's why I always recommend everyone to delve into it right now.

I won't dispute that I might say something like that because I say a lot of things that include various ways that people (especially no coiners and low coiners) should consider buying bitcoin, and of course, buying bitcoin is more important for people who are either low coiners or no coiners, and it likely won't even take a lot of bitcoin, like you suggested Dr.Bitcoin_Strange, to be able to profit from some kind of an ongoing buying of bitcoin earlier rather than later. 

So the punch line is to buy, and get off zero.. figure out your financial and psychological situation in order that you know how much BTC you can buy without getting forced to sell any of your BTC at a time that is not completely of your own choosing...so many times, in order to be a good and potentially aggressive buyer of bitcoin, you have to figure out your own financial and psychological circumstances,

...but if you are not ready, willing and able to be aggressive in regards to bitcoin and to look into your own specifics in regards to your finances and your psychology, you can still get off of zero by just buying small amounts of BTC.. and setting it aside.. so there surely are ways to not really get to know bitcoin, but still take some kind of a position in bitcoin, to study it along the way or just to defer studying it while still taking a position in bitcoin so that you get off zero..

It seems that in the coming 1-10 years, a lot of people are going to continue to fail/refuse to get off zero, so likely the next 1-10 years will still be early for those people who are taking a BTC position, getting off of zero, and maybe even better for those people who are being somewhat introspective about their finances and psychology in order that they would be able to be more aggressive in their BTC accumulation (without going overboard into overly aggressive status and then getting shook out of their BTC), but still we never know when the BTC price is going to fail to come back down.. so it seems better to get started in the bitcoin accumulation journey early, even though we know a lot of normies will continue to fail/refuse to do anything in regards to bitcoin beyond perhaps thinking about it (and perhaps thinking about it in various wrong kinds of ways and failing/refusing to do any research into their various misconceptions...).


Yep.... I know that a lot of people did not want to buy bitcoin, and they just wanted to earn it.. and some people still think like that.

So, part of the issue even back in 2016-2018  (and believe me the same thing was happening in 2013-2015), there could have been a variety of ways that people increased their income and reduced their expenses and used some amount of that extra money to buy bitcoin. which would have had caused considerable differences in their lives.. ..

...so many of us have made various kinds of mistakes, and so like you said, we have to figure out how to build/maintain our BTC stash from here.. rather than regretting the mistakes that we made...and we also likely have to be careful not to engage in risky/or gambling behaviors because we are trying to make up for our past mistakes.. Those mistakes are water under the bridge and we have to attempt to develop reasonable, prudent and maybe even aggressive (if we so decide) strategies from the place that we are at.. and to be careful not to be so aggressive that we are going to end up making mistakes in the opposite direction.

Not only you, I believe many people have also missed bitcoin in the past when its price was not so high. But regret is not the way to make the future better, and it's still early to get started with bitcoin, IMO. Bitcoin is still very cheap, and many people still don't know about it, we are lucky to know about bitcoin early, so let's take the opportunity before it becomes more popular.

I also love Bitcoin.
Satoshi Nakamoto is the persons who developed bitcoin in 2009. Bitcoin works on technology called block chain which records all transactions with the cryptocurrency. One of the most  features of Bitcoin is its total supply of a maximum of 21 million Bitcoins. Bitcoin being a decentralized banking system has made it easy for many to use and has been hailed as a potential digital currency security.

You can't be a Bitcoiner and not love Bitcoin; we love Bitcoin for the freedom it's given to our assets, for the revolution, etc. No matter how much Bitcoin seems to be worth in the near future, their people will still be able to buy and hold it. That's one good nature, and future Bitcoin will be "dividable," so there will always be an available amount to fit in your budget. You can buy as little as you can afford. The only big deal that will be there is that the average man won't be able to afford a whole Bitcoin, and not even all holders will be patient enough to be holding Bitcoin and enjoy that huge reward when Bitcoin will finally be be worth thomillions,oas weas we all predict.

Thank you op for the topic, I also have great love for bitcoin, I also discovered bitcoin in 2016, and that discovery was the beginning of a better live for me, but I am still not very much happy though, cus I still believe I missed to invest in bitcoin when I really should have, but this was due to lack of finance, coupled wit the fact I did not even expect bitcoin to become as big as it is today.

In the 2016, 2017, 2018, I was busy looking for ways to earn Bitcoin for free through faucets, and also chasing after airdrops, I really should have spent that time looking for how to save up from my little salary back then, to buy bitcoin, but I didn't, this is still one of my regrets even till date..

But generally though, I am still very much happy with all I've been able to achieve in my life through bitcoin, without bitcoin, I honestly can not tell what my life would be looking like right now.

Should I believe this? I really find it very difficult to see myself being convinced by it.

Are you aware that currently there is no fraction of Bitcoin that cannot be bought via P2P transactions?

Let's make this assumption: With the current price of Bitcoin as of now, BTC0.00021 Bitcoin is worth about $5.48, and if I buy such a fraction of Bitcoin now, I will pay just about $0.8 in fees. Fast forward to year 2040, and if 1 Bitcoin is sold for $900,000, if I want to buy $5.48 worth of Bitcoin, it will be BTC0.00000609. You can see that I am buying a lesser fraction of Bitcoin for $5.4, while in 2023, I bought a larger fraction for that same amount.

That scenario I gave is to demonstrate that quite a lot of people can still buy Bitcoin no matter what price it's trading at. The only thing there is that they will buy a lesser fraction of what they would have gotten if they had bought earlier than that time.
Also, don't forget that there will be new people to Bitcoin in the future, and as many as they will be by then, they will buy at whatever price they see.


I don't dispute the fact about this; that's why old folks in Bitcoin like sir JJG would always advise on buying the dip and holding. It's not because Bitcoin cannot be owned by many people by the time the price is so expensive; it's just that anyone who even buys the dip now would be at a very big profit by then.

Take a look at the example I gave above. 0.00021 Bitcoin for $5.4 now, then in the year 2040, if the price of Bitcoin becomes $900,000, then the 0.00021 would be worth $189.


Yea, easier, you said, but many people did not buy then. You can say people were more skeptical about Bitcoin then, but as people got off their skepticism in 2021, lot of people still bought.

I got introduced to Bitcoin also in 2017 and have come to like everything about it. The fact that you can have your money without anybody knowing about it, unlike banks you must visit the bank to access some functions.

Well, things might not be as easy as some people show or say they are, Bitcoin is obviously a great asset and an evolution in modern technology, but one should keep in mind that investing money in Bitcoin or any cryptocurrency comes with great risk too, because cryptocurrencies are volatile by nature, so if they can go up, they can come down as well, so someone who doesn't have enough patience should simply stay away from this market.

And about Bitcoin mining, that is not profitable for individuals anymore, you can't get any profit at all if you are mining Bitcoins individually due to the increased probability of mining a valid block as there is too much competition and you will need a lot of hashing power to be able to do that.

Even if bitcoin is worth $1 million, there will still be buyers and sellers, and transactions will continue as usual. But I will also partially agree with what Minhxx said, when bitcoin becomes expensive, owning bitcoin will become more difficult and, therefore, will make it impossible for many people to own bitcoin. That is also why I recommend everyone to take advantage of this moment to buy bitcoin while it is still very cheap. Expecting bitcoin to rise too quickly only makes us spend more money to buy bitcoin. Like your comparison, when bitcoin is less than 1$, buying it is a lot easier. And thought that if it hit $1 million, it would be extremely difficult to buy it.

Judging from the passage of time Bitcoin will continue to circulate in various ways such as service payments and peer-to-peer transactions. The increasing acceptance of Bitcoin as a payment option means that more people will adopt it. Moreover, some investors actively buy during market downturns and hold on for the longer term, anticipating a significant increase in price.

Historical trends show that people have bought Bitcoins at various price levels, even when they looked expensive. Therefore, the belief that Bitcoin will be too expensive for most people to acquire is unfounded.

what!? Why do you think in the future there won't be many people who will be able to own or buy a bitcoin, or even a fraction of it? What are you really implying? Is it that Bitcoin will be very expensive and no one can buy it? or is it because Bitcoin has a limited supply? If those are your reasons, then you are wrong. Even if anything else is your reason, you are totally wrong.

Bitcoin may have a limited supply, but that doesn't mean that it won't continue to circulate from one individual's wallet to another, either via service payment or a buy process through P2P. The reason is that, in the future, there is likely a possibility that more people will accept Bitcoin payments as an option. Already, there are many people who accept Bitcoin as their other means of receiving payments. That's the first reason why Bitcoin will not be difficult to own even in the future.

Second, there are people who bought and are still buying the dip in Bitcoin and holding it so tight with the aim to sell probably after a decade or two decades when the price has increased so much, and by that time in the future, there will be people who will still be buying Bitcoin.

If you also think Bitcoin will be very expensive and not many people will be able to buy it in the future, don't also forget that Bitcoin in 2009 was not even up to $1, and at current, based on the ATH, 1 Bitcoin traded for about $68k, yet there were people buying at that price, which means even if 1 Bitcoin is sold for $500k, there are people that will still buy.

In terms of the short to medium term which might be whle bitcoin is moving from its current status of less than 1% adoption to something like 30% to 50% adoption, then yeah, HODLers might be reluctant to spend it and might be more inclined to want to save it and accumulate it.. because in those growing adoption scenarios, bitcoin is becoming more and more valuable relative to other assets and currencies, so under Gresham law principles, it would not make any sense to spend the more solid (sound) of monies that are available.. and so therefore the lesser sound monies will get spent first, and as more and more value gravitates into bitcoin, then there might not be any other currencies that are available to spend first, so if someone who holds bitcoin wants to eat or to have lodging or to go on a vacation, then they are likely going to have to spend some bitcoin in order to be able to pay for such expenses.


For sure there is a bit of a learning curve in terms of the various ways to actually hold your own keys and to be your own bank and to be able to recover your wallet in the event that you lose access to it.. and surely these security and recovering mechanisms are moving targets that many of us continue to hope to become more and more user-friendly - and in the meantime, some of bitcoin's adoption will continue to be hindered by some of the difficulties in both figuring out which devices or services that are going to be used for wallets and to put those wallets (some prefer to call them signing devices) into practice - including backups - while still being able to hold your own keys, and sometimes some of the services are even a bit deceptive in terms of the extent to which they might be vulnerable in terms of others being able to access your keys, even if you had not agreed to their having access (the existence and use of various trust models within BTC too, which some would argue is not really BTC if there is a need to trust someone else - and we are likely going to continue to have some of these kinds of trust models being included in bitcoin and also hybrid services, too).


Of course there are ongoing misinformation (and disinformation) campaigns that are going on at various levels, and surely a decent number of people might not know bitcoin well enough in order to recognize the misinformation/disinformation that they are being fed.. so in that regard, it can take quite a long time for various material aspects of bitcoin to show and to prove many ways in which bitcoin empowers people, and what government, financial institution or status quo rich folks appreciate the value of members of the population who are actually empowered when the people are perceived to be threats to the various status quo powers that be..

....and even governments likely don't even realize that the people are the source of their power.. and largely they want to manage and control the people in various ways that take away and infringe upon individual sovereignty.. and I am not even opposed to the idea of government in terms of the likelihood that some social coordination is likely necessary in terms of some of the common spaces and public goods that exist and that might not be accessible if there were not some public access rules... bitcoin cannot completely solve the balance of public/private goods - even though it seems quite obvious that bitcoin improves a lot of the currently screwed up incentives around current monetary systems and various ways that monetary benefits do not seem to flow (or to be available) in fair ways...

...and even "fair ways" seems to be a public good..., but does not necessarily mean that distribution needs to be decided by "government officials" when bitcoin-like systems can provide some of the free market dynamics - to the extent that any free market can actually exist?  At least in terms of money creation?  yes  status quo incumbents criticize bitcoin for having had created money and they had not gotten in early enough..