Topic: Is your interest in bitcoin primarily tied to its price? - page 5. (Read 1185 times)

It was what Bitcoin offered that made me interested in it. How Bitcoin came up with its revolutionary features and how it can secure people's transactions and make them more private. Bitcoin is a pioneer in this industry. But that doesn't mean I don't look at the price, because besides me being interested in it I also hope that its value will also increase as I invest in it, but that's not the whole reason I'm interested in Bitcoin. Because if I just look at the price there are more options than Bitcoin on the market, but I don't choose those, and stick with Bitcoin because I believe in its potential.

there are all a series of advantages that are offered and are not linked only to price.
it is clear that price is a reason why many users use bitcoin but it is not the only reason.

mainly, what fascinates me most... is the possibility of moving and storing value for free, easily transportable, easily movable at negligible costs.
Worldwide, in a matter of minutes. if you travel abroad, or if you had ever the chance to get quick funds, this is the best method.
being able to receive payments without expensive setups, no controls or limits on spending are another significant plus.

You are being humble and I would say 99% of people are here for the profits that bitcoin can bring. But it's just that people are trying to hide it by combining some things like they love technology, they see bitcoin as a currency revolution...to make the story more vivid.
Indeed, I have repeatedly asked the question that if bitcoin were stable from the beginning and used as a currency, how many people would use and support it?

Making money is a must in this world and making money by investing in bitcoin is not illegal or shameful, but the confusing thing is that many people don't dare to admit it. I see no shame in considering bitcoin as a pure investment.

There are several reasons to hold bitcoin. The price rises over the years which makes us to HODL it more.
The decentralization helps us make payments without the intervention of any 3rd party which is another reason for holding it.
Banks are collapsing these days but bitcoin gives us the power to be our own bank which is another reason to hold it.
The list can go on. While the primary reason can be the price but the other reasons are compelling enough as well to hold bitcoin.

Mate price has been the main purpose for many people investing in Bitcoin that's the sincere truth but that shouldn't be the only reason for investors to remain relevant in the system, although you have stated the major reasons for the creation of this bitcoin, as we all know the price of Bitcoin is the force of attraction for the influx of investors to the investment itself but are we to be discouraged when the price is at its decreasing state when we already know that such period is the best time to invest because if an individual was unable to buy when the price is high due to lack of understanding of how things are been done in the system then such individual can still buy during the dip that's if they were able to save the funds meant for the said investment, mate I want you to understand that different indivuafuls with different reasons why they deem it necessary to have a good knowledge about Bitcoin, lets not forget that apart from the profit that's been made in Bitcoin it is also used to solve mathematical problems, so you see people area of interest differs but in all we are all called bitcoiners.

Yes, my interest in Bitcoin is primarily tied to it's price. And so does the interest of around 99% of all Bitcoiners.
Imagine the Bitcoin price being stable and staying at around 1 dollar. I'm sure that probably 90% of the Bitcoin users and investors would have never paid any attention to BTC. The other main feature of BTC is "being your own bank". To be honest, I wasn't keeping my BTC in a cold wallet during the first 5 years of my crypto experience. I was ignorant, but luckily I never got scammed by a centralized crypto exchange.
Satoshi's main motive for creating BTC was building a currency, that is independent from the central banks and governments.
Did he ever wanted Bitcoin to have a volatile price? Maybe not, but his creation is living it's own life right now.

Yes! If someone is saying otherwise, they are lying! If Bitcoin price goes back to zero, you will see 99.99% of the Bitcoin puritans are gone forever. Innovation has no value if it doesn't have a market where it sells. Such kind of innovations are called "Dead innovations" and Bitcoin is certainly not dead.

Price is the most important factor for Bitcoin and for the interest of the community. Innovation is fine, Vision is fine. But those won't make sense unless there is a price tag!

I hope it makes sense!

Needless to say, it wasn't Satoshi's motive when Bitcoin was invented. But the price growing this fast, I believe, is a necessary effect of how Satoshi designed Bitcoin. It is decentralized, immutable, global, run by codes, has a fixed supply, censorship-resistant, and so on. There's no way one doesn't want to have some with all these features. And as the demand grows, the price has soared.

It's now two sides of the same coin, the price and the features. While you love a currency that can't be debased by the crooks running the governments, you'd also love it because it not only frees you, it could also make you rich.

Bitcoin's main purpose is to be used as a payment which is being stated on the whitepaper.
Throughout the years, many problems arise such as high transaction fees compared to other payment methods, the transaction speed, and maybe add the fact that some people might look at it as a bit complex. There might be some that aren't comfortable using it and prefer the usual payment methods.

As years go by, many people see it as an asset more than a currency because of its volatility and if you will ask some investors, the price and its volatility is what makes them interested in buying it. TBH, I can't think of any reason why I'm into Bitcoin aside from the fact that I want to make money off of it, and the technology of course. As for your final question, yes, it's the most important driver for me, but isn't the only one.

First of hearing bitcoin, yes, but along the way, soon as i invest long term and with the services and jobs it provides (for my sideline in usd based) price doesn't really matter to me, not unless it dumps back to $30k lol.

Well, to be honest with you, Satoshi did talked about the price of bitcoin in some of the posts and comments he made concerning bitcoin, sorry I might not have the time to start digging now to resurrect some of those posts/comments, but then, if you are a bitcoin holder, rest assured that Satoshi also was interested in the price of bitcoin flourishing, just like any bitcoin investor today.

So, while holding bitcoin, do not be ashamed to show your interest in the growth of its price, and the reason for this is very simple, without bitcoin getting a good high price, nobody will consider bitcoin a success, I did say that it's kind of unfortunate that today, the society we live in attribute the success of an asset to and based on its price in the open market, it's not a bad thing to hold bitcoin and expect to make profit from it's price volatility.

To be honest, price caught my attention and it was my motive to also be part of those that will win big in bitcoin after investing in it. About Satoshi’s motive, I don’t think this was the motive of the invention, the motive was to serve as alternative to fiat currency which today has become a more centralised and inflatory currency. The reason for bitcoin invention by Satoshi was to help users to be decentralised and no third party involvement in their ownership of funds. Truth be said, the volatile nature of it and the price fluctuations it has in it is what has brought more people on board to learn more about bitcoin and not what the main purpose of it was designed for. This is bitcoin and the adoption is what matters most to the community, so they’ll have it and not bother the notion of people that they have about it before joining it.

You nailed it mate. Everyone’s here to make a living, it’s up to us how we will maximize that advantage for us. So when the price is at stake, I’m sure all of us will definitely become depressed since it’s obvious that we all work for money, bitcoin’s technology comes only primarily.

Bitcoin becomes more impressive because of the higher profits that it offers compared to other crypto coins in the market. It’s okay to think of its volatility since every time the price drops, eventually it will recover and moves up again. But telling everyone that its price will just remain at its lowest value, I guess that would mean another story to tell.

I guess it’s 70-30 for me. The price is still the main thing for me, but I also learned to love the technology and all its advantages in general. However, if the price will eventually drop to its lowest, most likely I will still be consistently learning about bitcoin but I wouldn’t deny that I will feel down and frustrated seeing my bitcoin investments won’t offer me anymore massive profits in the future. But for now, let’s enjoy first while bitcoin price is still highly profitable, as we don’t know what the future holds for bitcoin.

In fact, it is a real joy the price of Bitcoin goes up and down cinematically. If you say that everyone is interested in investing in Bitcoin because of price fluctuations, that is not entirely correct. You have to keep in mind that price fluctuations can also cause large institutions to lose interest in investing in Bitcoin.

Anyway, if you ask me, I will say, that depositing money in the bank is an absolute loss. Most of the world's banks are suffering from financial liquidity crisis. If all the customers in a country want to withdraw their money, the bank of that country will never be able to do so. Moreover, the value of paper money is decreasing day by day. $100 can't do half the work that $100 did 5 years ago. So why should I risk my hard-earned money? That's why I invest in Bitcoin to maintain the value of my assets for my security. If I can sell them at a premium price that's a bonus for me.

I would say the value, the value have a price. If the dollar dominance taken by any other fiat currency then the value of Bitcoin will become subjectable to that currency. Bitcoin is receiving more attention than ever. There used to be land, property, gold, silver but now we have Bitcoin, ETH and other cryptocurrency. Saving dollar does not make you wealthy but saving Bitcoin can make your wealthy. 

Satoshi's motives for creating Bitcoin are clear....
Satoshi Nakamoto's original goal in creating Bitcoin was to have a system in which everyone could make direct transactions with each other without third parties and. The meaning is that Satoshi Nakamoto wanted to help people and wanted to give financial freedom to the public. So that the public can transact with each other easily, fast, at a at a low fee, etc., on the basis of facilities in which no third party is involved, i.e. do not include a third party other than the receiver.

Here's the thing. 90% of the people in here, myself included, is in the crypto industry all because it makes us money. Let's not sugarcoat it anymore. Even those who learn how cryptocurrency works at a fundamental level can be argued that they're doing so all because they have money expected to arrive. The crypto evangelists and maximalists who think of bitcoin as the second coming of Christ believes so only because it makes them money. Why would
we bother ourselves with a "new currency system" anyway when digital payments are already something that existed for decades?

So in a manner of speaking, everyone in here's looking at crypto primarily because of the prospect of money, or in price as you have said it. Only massive difference between most of us here who have stuck through thick and thin and those who paperhanded and sold their crypto at the first sight of a dump is our risk capacity. To them losing a buck fifty is hell. To some of us (myself included) maybe losing a couple hundred dollars isn't a dealbreaker ordeal per se.

So yeah, stop fooling yourself that you're here cause "bitcoin is one of the greatest monetary systems ever made and I want to keep a close look at it" or whatever you say to delude yourself. You're here because this is where the bread's at. Only question is are you still gonna be here if the bread's dumping?

I admit that the price trend of Bitcoin primarily piqued my interest and most investors are hooked on the volatility of bitcoin.  I am one of those who are interested on the venture that will yield profit and I see Bitcoin as one of these ventures.

Although I primarily got interested in the price of Bitcoin, I ended up using the technology rather than hoarding BTC to earn more profit due to the convenience I got from the boundless transaction feature of Bitcoin and its smaller fee for international transfer when its network is not congested.

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I also think that Satoshi intended to remove the third party who acts as an intermediary in the monetary system reason for the creation of Bitcoin and not to replace the sovereign currencies, I do not think that it was intended to replace fiat since I can read nowhere on the white paper (if I am not missing something) that it was intended to replace sovereign currencies.

False. Bitcoin was not created to replace sovereign currencies or it would never have been designed with the massive limitations it has. Bitcoin couldn't ever handled even 0.001% of the world's daily transactions and it's getting even slower and more expensive as time goes on.

Indeed, as far as the "middle man" goes, Bitcoin is one of the slowest and most expensive in the world right now.