Topic: Is your interest in bitcoin primarily tied to its price? - page 2. (Read 1144 times)
When you hear words like "HODL," "HALVING," "BULL RUN," you're left in no doubt that most members of the Bitcoin community like the cryptocurrency because of the prospect or hope that it could make them rich. I know it's made early adopters rich, but shouldn't there be other reasons to learn and use Bitcoin besides price fluctuations? Was this Satoshi's motive for the invention? Is price the most important driver of your interest in Bitcoin?
The primary thing that make people to come to bitcoin is because they want bitcoin to be something that will yield for them when they invest on bitcoin, but probably the fluctuates of the price doesn't make the mindset of new investors to come to pass, but what you know is your plans of coming to bitcoin if you work according to your plan you will surely make a profit towards it, so therefore I believe that in cryptocurrency you have to understand some certain things that is related to it, bitcoin makes people to be rich and also makes people to be poor, depending you duration of your investment. 
Not for me, I see it as a Savings Technology first, I`m a converted Silver Stacker and though I still have some of my silver, I store my savings in BTC now, and as long as it remains higher than the Real inflation of fiat, I`m perfectly happy with it.
Your steps in saving your own savings into Bitcoin are actually quite correct so that you can continue without worrying about other conditions. Because currently people who save money or other assets are still worried about how to maintain their value because currently the value of fiat itself is often eroded by inflation. So it would be quite suitable for you to keep Bitcoin as your own future savings because Bitcoin still has the potential to become more expensive than its current price. 
Absolutely. I'm all for having some fun with speculation (it's my business after all 
), but anybody who says, "this investment will never go down", or even, "in the long run it will absolutely go up"--are either lying to you or are very foolish. Consumers have lost billions of dollars betting on investments they were told "could never go down in value".
), but anybody who says, "this investment will never go down", or even, "in the long run it will absolutely go up"--are either lying to you or are very foolish. Consumers have lost billions of dollars betting on investments they were told "could never go down in value". True that, there is no such thing as a permanent upward trend. Even the biggest companies decline or shut down after they hit their peak and Bitcoin is no different. One point in time, the Bitcoin market will get saturated and it will reach its market peak. From that there is no other way for Bitcoin but to downtrend. When or when the Bitcoin trend starts to plummet continuously is still unknown but I am sure it will not be soon so we have plenty of time to indulge ourselves and take advantage of the market profit Bitcoin has to offer today.
I think bitcoin is an asset so it would be inappropriate to compare its development with corporations, companies, organizations...it would be more appropriate to compare it with gold. What if bitcoin was used as a store of value like gold? I don't think that if it was recognized by the government and used as a national reserve asset like gold, its value would not decrease.
I agree that there will come a time when bitcoin is saturated and cannot increase forever but that does not mean it will decrease when it is saturated, it can also become a store of value assets as I said. The future is unpredictable and anything can happen.
Well, due to its volatile nature..
Your interest shouldn't really be fixed keenly on it's price..
The absence of middlemen in btc exch for me is where my interest is really tied to.
Your interest shouldn't really be fixed keenly on it's price..
The absence of middlemen in btc exch for me is where my interest is really tied to.
When you hear words like "HODL," "HALVING," "BULL RUN," you're left in no doubt that most members of the Bitcoin community like the cryptocurrency because of the prospect or hope that it could make them rich. I know it's made early adopters rich, but shouldn't there be other reasons to learn and use Bitcoin besides price fluctuations? Was this Satoshi's motive for the invention? Is price the most important driver of your interest in Bitcoin?
The main motive of satoshi was to have a decentralized currency that wouldn’t be controlled by the government or a third party like the bank but along the line, people saw other opportunities in it and decided to explore it and without doubts, I think it’s also serving several purposes as people are already earning from every profitable opportunity that presents itself in the cryptocurrency market.The purpose of usage is solely dependent on the holder, and there are people who basically uses it just for international transactions while there are others who use it as a store of value and the rest of that, but whatever the case be, being in charge and staying in charge of your transaction is the actual goal
Not for me, I see it as a Savings Technology first, I`m a converted Silver Stacker and though I still have some of my silver, I store my savings in BTC now, and as long as it remains higher than the Real inflation of fiat, I`m perfectly happy with it.
How about when Bitcoin market crash, are you still perfectly happy with it?
Much happier than when a bank does the same thing!
Absolutely. I'm all for having some fun with speculation (it's my business after all ), but anybody who says, "this investment will never go down", or even, "in the long run it will absolutely go up"--are either lying to you or are very foolish. Consumers have lost billions of dollars betting on investments they were told "could never go down in value".
), but anybody who says, "this investment will never go down", or even, "in the long run it will absolutely go up"--are either lying to you or are very foolish. Consumers have lost billions of dollars betting on investments they were told "could never go down in value". True that, there is no such thing as a permanent upward trend. Even the biggest companies decline or shut down after they hit their peak and Bitcoin is no different. One point in time, the Bitcoin market will get saturated and it will reach its market peak. From that there is no other way for Bitcoin but to downtrend. When or when the Bitcoin trend starts to plummet continuously is still unknown but I am sure it will not be soon so we have plenty of time to indulge ourselves and take advantage of the market profit Bitcoin has to offer today.
Not for me, I see it as a Savings Technology first, I`m a converted Silver Stacker and though I still have some of my silver, I store my savings in BTC now, and as long as it remains higher than the Real inflation of fiat, I`m perfectly happy with it.
How about when Bitcoin market crash, are you still perfectly happy with it?
I believe we should not be complacent with our investments, we must get ourselves updated on any events, the least we want to experience is failing to notice when to sell when the market started to crumble.
Bitcoin's ledger is public and anyone can analyze the chain, but that doesn't mean it's easy to discover someone's information or identity. If using bitcoin does not help users protect their privacy, then why until now does the government or many people still have difficulty finding someone because they use bitcoin.
Who says they do?
Today, most real criminals (at least the smart ones) probably don't use Bitcoin, they use Monera or some equivalent. Or Bitcoin with a mixer.
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The future is unpredictable and everything has risk, including fiat currencies, gold...not just bitcoin. As wise people, they will always diversify their assets, no one will be stupid enough to put all their eggs in one basket.
Absolutely. I'm all for having some fun with speculation (it's my business after all
), but anybody who says, "this investment will never go down", or even, "in the long run it will absolutely go up"--are either lying to you or are very foolish. Consumers have lost billions of dollars betting on investments they were told "could never go down in value". 
Price is the first thing that caught my interest on Bitcoin because it promised huge potential to grow by the time I discover Bitcoin in early days.
But now my perspective was already changed when my knowledge grow further especially in the use of Bitcoin for finance. You can’t move huge funds using bank without giving explanation to your bank about the purpose of your transfers and also there’s a limit on how much you can transfer in daily and monthly basis which you can’t experience on Bitcoin.
Bitcoin provides real financial freedom in both price and its use.
But now my perspective was already changed when my knowledge grow further especially in the use of Bitcoin for finance. You can’t move huge funds using bank without giving explanation to your bank about the purpose of your transfers and also there’s a limit on how much you can transfer in daily and monthly basis which you can’t experience on Bitcoin.
Bitcoin provides real financial freedom in both price and its use.
I completely agree with, seeing the tremendous increase in price and the wider spread adoption that Bitcoin has shown or made historically, it's really impressive and has gotten more of universal attention. But however, outside the price indeed Bitcoin has offered so many benefits such as enabling borderless transactions, offering protection against inflation, preserving privacy and creating investment opportunities, it is a store of value, a financial freedom, it is one among if not the best digital asset class that has proven itself beyond every reasonable doubt to be a project with a solid foundation.
price went from 10 to 35 to 2. i kept mining at a loss though as i wasnt primarily into for profit. the tech was cool, and thats all needed to have fun with it.
Unfortunately for me, that period of interest and just doing things because I thought they were cool only happened in the late 1990s and into the mid-00s. I dismissed Bitcoin on first contact partially because of so much lost time and resources with past experiments, but also because of my own failure to really understand distributed computing. I do wish I had kept in touch with old networks longer, am sure would have seen it differently.
P.S. Respect for folding@home people. Some of us were just so excited to contribute something we weren't even sure would ever be useful.
Not for me, I see it as a Savings Technology first, I`m a converted Silver Stacker and though I still have some of my silver, I store my savings in BTC now, and as long as it remains higher than the Real inflation of fiat, I`m perfectly happy with it.
started mining bitcoin in 2011 when the price was around 10 bucks so it was primarily a way to subsidize new hardware for games. and the tech was cool. i came from a background of distributed computing like folding@home and such so to me the money was secondary to the bitcoin experiment itself, which was fascinating.
of course i liked it a lot more when the price went stratospheric. that was a nice bonus.
of course i liked it a lot more when the price went stratospheric. that was a nice bonus.
I came in a little later than that, but I wonder what the mining requirements were when you entered the adventure? Was it GPU back at the time and what was your first setup?
back then for BTC gpu was king with fpga right around the corner. i used a single ati hd4850 to test mining and grabbed the core (qt?) wallet and mined to that. when i proved i could actually understand the steps i expanded to a HD6870 and then a couple HD5830s. the actual act of maintaining and tweaking hardware is addicting to us nerds. and white noise from fans is soothing (well at under 1200 rpm haha)
so when i initially mined price went from 10 to 35 to 2. i kept mining at a loss though as i wasnt primarily into for profit. the tech was cool, and thats all needed to have fun with it.
When I discovered Bitcoin in 2014, I wasn't intrigued by its price, as it was quite low compared to today's standards. It was the concept of an online currency that you could practically store in an online wallet or on your computer. As a teenager, it seemed surreal that such a thing existed. Certainly, what keeps me interested nowadays isn't its concept but its value. I stopped my involvement in Bitcoin in 2018 because the price crashed and it lost its value in just a few days, while its price is what brought me back in 2021 and still gets me going.
People don't expect too much from bitcoin; some early investors spend with no worries because of its cheap price. Yes, the price before isn't encouraging, nor does it gain interest, which is why it is always ignored. However, the current situation and price sentiment make the crypto market more appealing. Maybe I'm wrong, but if the price of bitcoin remains just at $10, I don't think it will gain massive talk online and a high adoption rate. Although we couldn't say that we were fully attached to bitcoin for its price, I believe that it is the main reason why we are here and buying. As the price keeps on rolling high, the more it gains popularity. 
When you hear words like "HODL," "HALVING," "BULL RUN," you're left in no doubt that most members of the Bitcoin community like the cryptocurrency because of the prospect or hope that it could make them rich. I know it's made early adopters rich, but shouldn't there be other reasons to learn and use Bitcoin besides price fluctuations? Was this Satoshi's motive for the invention? Is price the most important driver of your interest in Bitcoin?
Some people assess and view Bitcoin in terms of price and value. Others see and judge Bitcoin from technology and convenience. I don't look at assessing Bitcoin from the price side but from both sides.
It's totally wrong if Satoshi's motive for his discovery (Bitcoin) is like that and I don't think I can justify it. Satoshi had noble goals behind his extraordinary discovery of the world economic system.
When I discovered Bitcoin in 2014, I wasn't intrigued by its price, as it was quite low compared to today's standards. It was the concept of an online currency that you could practically store in an online wallet or on your computer. As a teenager, it seemed surreal that such a thing existed. Certainly, what keeps me interested nowadays isn't its concept but its value. I stopped my involvement in Bitcoin in 2018 because the price crashed and it lost its value in just a few days, while its price is what brought me back in 2021 and still gets me going.
In fact, only few have even seen or read the white paper to know and understand what they are holding. We can not deny that even those who are familiar with other uses of bitcoin are mainly driven to hold because of its price which they believe would give them profit in the long run.
So far, the value factor has been the best thing that made me learn Bitcoin. Because with value and its fluctuations I can benefit from helping my financial condition. Actually maybe not only I am mostly the same too. See how money rotates on several exchanges. I think it makes the value and profit picture a major factor. In addition, look at the crypto industry today, it seems that they do bring usefulness. But that's only a small part of the mission to gain money profits.
Bitcoin is not a get-rich-quick scheme and it is not my reason for being interested in Bitcoin.
The word HOLD refers to and is meant for people who own Bitcoin and use it as a long-term investment asset. The use of Bitcoin as an investment asset is a decision made by the person as the owner. Bitcoin, which was created by Satoshi, has made it clear in the white paper that Bitcoin is an electronic cash system that makes it easy for people to do without having to have an ATM card and other conveniences such as not requiring a third party to own their Bitcoin.
The word HOLD refers to and is meant for people who own Bitcoin and use it as a long-term investment asset. The use of Bitcoin as an investment asset is a decision made by the person as the owner. Bitcoin, which was created by Satoshi, has made it clear in the white paper that Bitcoin is an electronic cash system that makes it easy for people to do without having to have an ATM card and other conveniences such as not requiring a third party to own their Bitcoin.
The reason behind bitcoin invention is more beyond what we assume but truth be told, not every bitcoin user is aware of all these that you just mentioned. Many among these adopters see it as a quick way to get rich simply because of its price fluctuation. They tend to take advantage of this and assume that is what bitcoin is mainly meant for. In fact, only few have even seen or read the white paper to know and understand what they are holding. We can not deny that even those who are familiar with other uses of bitcoin are mainly driven to hold because of its price which they believe would give them profit in the long run.
That's not true. Anybody can do chain analysis. If you are not a criminal (or even if you are), then the danger of using the public ledger of Bitcoin is criminals.
Use Bitcoin if you want the possibility that all of the transactions you've ever done be exposed to anybody who ever wanted to discover them.
Bitcoin's ledger is public and anyone can analyze the chain, but that doesn't mean it's easy to discover someone's information or identity. If using bitcoin does not help users protect their privacy, then why until now does the government or many people still have difficulty finding someone because they use bitcoin.
Bitcoin fell by 66% in the past, too. Nobody can predict the future. Speculation can be fun, but never believe that "it can't go down" because millions of people have learned the hard way that isn't true.
The future is unpredictable and everything has risk, including fiat currencies, gold...not just bitcoin. As wise people, they will always diversify their assets, no one will be stupid enough to put all their eggs in one basket.
My interest in Bitcoin is the freedom from third parties, (Especially the government) and it's decentralized nature.
Price comes only second to that. If Bitcoin was a centralized technology, I would not invest in it, no matter how amazing the price.
I've seen that different Bitcoiners have their various interests in it, some pictured it as a store of value, it's decentralised nature like you mentioned attracted some, while some, cause of fast transaction speed for business and so forth, whatsoever. Well, priced might have come second to you but I feel lots of people at the early stages adopted Bitcoin when the price surged high from it's initial price when it was created most people never bothered about getting too familiar with the technology but the volatility is what attracted lots of adoption by the majority and to be honest if Bitcoin wasn't decentralized I don't think the project would've gone this far, the government would've messed up the whole concept and many investors would've abandoned it.Price comes only second to that. If Bitcoin was a centralized technology, I would not invest in it, no matter how amazing the price.
It's an incorruptible money which is provably verified and completely out of control of anyone. Especially the government(s).
And it has all the advantages of old-age money (fiat). If anything, it is an updated version of it. Next-gen money.
My interest in Bitcoin is the freedom from third parties, (Especially the government) and it's decentralized nature.
Price comes only second to that. If Bitcoin was a centralized technology, I would not invest in it, no matter how amazing the price.
Price for me is just a bonus because that is where place our buy and sell entry. What I really like about Bitcoin is it's decentralization, future proof, inflation proof and more. I am tired of what has happened to the current fiat currency I have here in my country due to high inflation rate depreciation is at it's best, so much better to hodl Bitcoin or convert fiat to Bitcoin for future purposes. Price comes only second to that. If Bitcoin was a centralized technology, I would not invest in it, no matter how amazing the price.
Not only inflation proof but deflationary. So it will never stop rising in value, as long as there is steady demand.
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