Purpose of purchasing bitcoin! | Bitcointalksearch.org

justdimin

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Quote from: bittraffic on June 05, 2023, 11:22:48 AM

It would be stupid of someone to buy something and not know what its purpose. You don't accidentally buy BTC because for someone nowadays, BTC is too popular. And if you did buy even just a fraction of it, you know your purpose and its either for your investment or you wanna gamble.

I know one kid buy BTC just to impress his IG followers that he is into BTC. Now thats one heck of a purpose.

I think it's quite normal for people to not be aware of bitcoin, even in this world where crypto is wildly adopted and there are tens of millions of people who use it, there are still billions who have no idea about it as well.

However, I do agree that it would be pretty difficult to mistakenly get any, it's something that requires a lot of work to get, I mean not a lot of work but certainly not easy enough that you will mistakenly get it. Even in fiat there could be someone who dropped money on the floor and you could pick it up and mistakenly have money, crypto doesn't even have that. So short story long bitcoin is something you want to buy if you want to get it, that instagram kid definitely did the right thing, I hope he keeps it after showing it off.

_BlackStar

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Quote from: FiveG on June 04, 2023, 11:58:41 PM

In life if purpose of thing is not known abuse is inevitable, I have come realizes that many people do not have purpose of purchasing bitcoin only buy because they've money and when anything went wrong they will be to lament or query people.

Buying bitcoin aimlessly - oh how did that happen?
The average trader buys bitcoin because they want to make profit regardless of how they develop their trading strategy going forward. In fact, I dare to say each of them bought bitcoin because have their own goals, so your assumption about things like the above are very unreasonable. Some buy bitcoin because they want to use it as means of payment - while others buy it to make profit.

Quote from: FiveG on June 04, 2023, 11:58:41 PM

Sometimes is good you ask yourself certain questions why am I doing this? What is my aimed for it?

Obviously - they think about it even if not all of them have the skills to manage it well. Bitcoin trading and investing is risky - sometimes you have to adjust your plan at a time and start over for some reason.

zanezane

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just to simplify what is the purpose of purchasing bitcoin. People buy Bitcoin for different reasons like using it as an investment, to store value, as a payment method, for faster and cheaper remittances, or due to interest in blockchain technology.

bittraffic

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It would be stupid of someone to buy something and not know what its purpose. You don't accidentally buy BTC because for someone nowadays, BTC is too popular. And if you did buy even just a fraction of it, you know your purpose and its either for your investment or you wanna gamble.

I know one kid buy BTC just to impress his IG followers that he is into BTC. Now thats one heck of a purpose.

KiaKia

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Without the proper knowledge about Bitcoin, how will you know when to buy and when to sell? This is the mistake that many new crypto investors like making and they blamed Bitcoin itself, calling it names.

When you don't understand why you buy something and that thing cost you a lot of money you will be lost in panic, uncertainty, and fear, and this is what will mislead you into taking a wrong decision.

Knowledge should always come first in whatever we want to do, this is not about Bitcoin only but also about everything we want to invest our money into, you are at a greater risk if you plan to invest without any knowledge first, mostly importantly on something that's highly volatile like Bitcoin.

RockBell

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Quote from: FiveG on June 04, 2023, 11:58:41 PM

In life if purpose of thing is not known abuse is inevitable, I have come realizes that many people do not have purpose of purchasing bitcoin only buy because they've money and when anything went wrong they will be to lament or query people. Sometimes is good you ask yourself certain questions why am I doing this? What is my aimed for it? What is my vision or dream towards this investment. Planning helps one achieved greater goals, imagine you bought bitcoin Worth $4 thousand and you're busy withdrawing on every moves weather favourable or against you, nothing will really make sense with that because you can no longer control your finance and at the end the money will never remain the same but think about this purposeful questions like:
1. Acquired more knowledge of bitcoin?
2. How much will involved?
3. How long do I want this?
4. What is my target in the next five years?
5. Is it futuristic or gambling or daily income?
6. Can i be an hero that can make others to be an hero's?
When you begins to question most of this purposeful questions you will enjoy more benefits of becoming great with bitcoin.

I've seen people buy Bitcoin without proper knowledge, and while I believe some people might get lucky holding it might work for them, I also believe that those looking to experiment may lose a lot of money to gain experience, which will help them become better at what they do. However, knowledge is essential if you want to truly enjoy your journey in Bitcoin. Also taking into account the cost of purchasing Bitcoin is important, as doing so entails risk and should be a long-term objective rather than merely an investment with an eye toward profit. and asking questions is also a good idea since Bitcoin has a lot of processes.

michellee

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1. You can seek knowledge about Bitcoin before you decide to invest in Bitcoin.
2. Only you know how much money you can invest. But many suggest only using the money you can afford. So that's why the amount of money will not be the same for everyone because everyone's investment ability will be different.
3. This is your target for when you can sell your Bitcoin and take the profit.
4. You must know your target in the next five years.
5. You can make money trading futures and making them a daily income but you need sufficient skills.
6. Of course you can but you should start with yourself, then you can teach others.

And the purpose of buying Bitcoins will be different for everyone. So you should know that before you start investing. Then, determine the amount of money and how much you can afford to invest. And finally, be patient and wait until the Bitcoin price reaches your desired target.

Vinaa77

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Quote from: ilovealtcoins on June 05, 2023, 12:25:47 AM

The purpose for which we all buy bitcoin is for money, for profit, nothing more and nothing less.

Investing in Bitcoin is not all for money and maybe we don't agree with your statement, even though basically everyone will benefit from investing in bitcoin and it is not justified that the goal is only to get money from Bitcoin.

Quote from: ilovealtcoins on June 05, 2023, 12:25:47 AM

I don't think someone invests in bitcoin without a purpose.

All those who are involved in investing and purchasing Bitcoin have already determined where their goals are going, I think nothing is without a goal. they dare to take risks, and this happens because they have a purpose. and the purpose of Bitcoin is not just to get money, because Bitcoin can also be used for various things, one of which is as an alternative to someone.

LogitechMouse

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Quote from: worle1bm on June 05, 2023, 12:56:15 AM

Quote from: ilovealtcoins on June 05, 2023, 12:25:47 AM

The purpose for which we all buy bitcoin is for money, for profit, nothing more and nothing less. What you mention are everyone's plans and goals, and no two will be the same. I don't think someone invests in bitcoin without a purpose. But investing in bitcoin is not for everyone, if you have a specific strategy and plan, you will succeed. But if you invest without a plan and invest blindly because you think it's easy, you will lose.

This is not correct because you are seeing it as investment purpose or considering it as an asset only but the main aim behind bitcoin creation was to provide an alternative way for payment others then fiat with decentralised nature.You see merchants and companies accepting it now so it is being used to make payments as well so your explanation doesn't sound right to me.People see profits in it so they holf it but this doesn't make it only for that purpose.

It can go both ways.
You can see Bitcoin as an currency, and at the same time, you can see it as an asset as well. It all depends on the motives of a particular person.

There are some who sees Bitcoin as an investment alone, and there are some who sees it as an asset. At the end of the day, what's important is you achieved your goal. If you see Bitcoin as an asset where you can get profit from investing into it then there's no problem there. Now if you sees Bitcoin as a currency that can be used as an alternative mode of payment then there's nothing wrong there.

Bitcoin was created as a currency at first, but over the years, people are seeing it as either an asset or both a currency, and an asset. As for me, I only have 2 reasons on why I'm purchasing Bitcoin. One is I want to have access to my own money, and the other one is that I want profit.

aoluain

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Quote from: worle1bm on June 05, 2023, 12:56:15 AM

Quote from: ilovealtcoins on June 05, 2023, 12:25:47 AM

The purpose for which we all buy bitcoin is for money, for profit, nothing more and nothing less. What you mention are everyone's plans and goals, and no two will be the same. I don't think someone invests in bitcoin without a purpose. But investing in bitcoin is not for everyone, if you have a specific strategy and plan, you will succeed. But if you invest without a plan and invest blindly because you think it's easy, you will lose.

This is not correct because you are seeing it as investment purpose or considering it as an asset only but the main aim behind bitcoin creation was to provide an alternative way for payment others then fiat with decentralised nature.You see merchants and companies accepting it now so it is being used to make payments as well so your explanation doesn't sound right to me.People see profits in it so they holf it but this doesn't make it only for that purpose.

But fortunately or unfortunately Bitcoin is seen as an investment to make money in
the future. It has become much more than just a decentralised payment system,
but it still is that...with added benefits.

Me - I dont use a centralised FIAT bank to store my "wealth" I prefer the Bank of Bitcoin
which offers:

Self custody
Network security
Borderless transportability
Permissionless wealth transfer
Deflationary system of money/investment

CryptocurencyKing

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At the moment, I think one of the most reasons investors purchase Bitcoin is the fact that, we see it for an investment that can earn us dividends in the near future and at this time, its still early. This makes it auch better time to buy and hold, given the much it has appreciated in its short time.
So, its not strange to find users using various strategies to purchase the coin. It is a preparation for an unknown but speculated future. It would be hard yo accept that, you had the opportunity at this time, had the resources to get in and still, refused to make preparations.

retreat

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Quote from: FiveG on June 04, 2023, 11:58:41 PM

In life if purpose of thing is not known abuse is inevitable, I have come realizes that many people do not have purpose of purchasing bitcoin only buy because they've money and when anything went wrong they will be to lament or query people.
-snip-

We all know that the goal of everyone investing in bitcoins is to make a profit or use it as payment for transactions, that's all. So it's quite wrong to say that many people have no purpose in buying Bitcoin, because their goal is just those two. Moreover, it's quite stupid if someone buys bitcoins without a purpose, especially if they just go along with people without knowing the purpose of buying bitcoins.

Dunamisx

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It's a very good idea to always define your purpose before doing anything in life, if you heard about bitcoin then the next thing is to research about it, learn and under it before deciding on having interest mind for investing on it, ones you've decided for yourself, ensure you have the adequate knowledge about bitcoin before you invested, dont leverage on others or depends on anyone to engage your investment or control them for you, it's all you can do by yourself as long as you're having the right information on how to go about it.

noorman0

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Quote from: FiveG on June 04, 2023, 11:58:41 PM

In life if purpose of thing is not known abuse is inevitable,

Abuse can be a purpose of thing, and it is one of the thousands of reasons people buy it. Simply put you can see the purpose of people having money, because bitcoin also has additional characteristics such as self-control and fluctuation, it enriches the purpose of people to use it. For some purposes, bitcoin is only a secondary support.

hd49728

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Quote from: FiveG on June 04, 2023, 11:58:41 PM

In life if purpose of thing is not known abuse is inevitable, I have come realizes that many people do not have purpose of purchasing bitcoin only buy because they've money and when anything went wrong they will be to lament or query people. Sometimes is good you ask yourself certain questions why am I doing this? What is my aimed for it? What is my vision or dream towards this investment. Planning helps one achieved greater goals, imagine you bought bitcoin Worth $4 thousand and you're busy withdrawing on every moves weather favourable or against you, nothing will really make sense with that because you can no longer control your finance and at the end the money will never remain the same but think about this purposeful questions like:

You can only give us questions below than writing bunches of rhetorical questions above.

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1. Acquired more knowledge of bitcoin?

Buying to own bitcoin for fun, for prosperity, for investment, for trading. Many people bought or mined bitcoin in the past for fun and were not serious about it. Hence they lost private keys of their coins.

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2. How much will involved?

Non sense question.

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3. How long do I want this?

Only you can answer this. It will depend on your plan to reuse the capital you use to buy bitcoin or if you don't have other saving to use for emergency, you will have to sell your bitcoins anytime, even tomorrow.

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4. What is my target in the next five years?

Depends on your knowledge about bitcoin cycles and your greed.

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5. Is it futuristic or gambling or daily income?

Answer it by yourself, I don't know.

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6. Can i be an hero that can make others to be an hero's?

Buying bitcoin and become a hero. Non sense.

Invite others to buy bitcoin is risky as you can not guarantee profit for them. If they lose money, they will blame on you or kill you.

Z-tight

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I don't believe there is anyone who buys BTC without a purpose, whatever reason that prompted someone to purchase BTC is their purpose. Though there are some purposes that may be wrong in my own opinion, like buying BTC to get rich so fast, but the good thing is BTC is permissionless, so nobody call tell others what purpose is good or bad, you can buy it and use it how you like without my permission or that of anybody.

Crypt0Gore

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OP, I can mention up to five different guys that I knew that really really understand what's Bitcoin is all about but they're not ready to invest money in Bitcoin at all.

They understand what blockchain is and they understand why Bitcoin was created but they're still not ready to invest anything in Bitcoin, the reason why they choose to do so is unknown to me till today, all I have left is to keep guessing why.

Maybe they are scared of losing their money or maybe they don't want to see Bitcoin succeed or they're scared that one day Bitcoin can turn into a scam.

Patrol69

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Determining symptoms is very important in our life. Because if there is no goal in life then our life will be stuck somewhere. People who set a goal in life try to do something to fulfill that goal in life but those who have no goal in life do not even try to fulfill their goal.

Suppose a person earns $5 a day and has no set goal in life. He earns $5 a day and spends $5 and lives like that. But another person earns $5 a day but has a goal in life. Earning five dollars a day, he invests in a place without spending five dollars to fulfill his goal. That is, even if the second person suffers for a short period of time, he is more likely to succeed later.

So each of us should have a specific goal in life.

mk4

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Me: buying bitcoin because I prefer having self-custody over my money and I think that the price will go up some time in the future. It's really that simple lmao.

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Quote from: ilovealtcoins on June 05, 2023, 12:25:47 AM

The purpose for which we all buy bitcoin is for money, for profit, nothing more and nothing less.

I don't agree if everyone who buys Bitcoin is only for money.
Broadly speaking, it can lead there, but not all.

Quote from: ilovealtcoins on June 05, 2023, 12:25:47 AM

What you mention are everyone's plans and goals, and no two will be the same. I don't think someone invests in bitcoin without a purpose. But investing in bitcoin is not for everyone, if you have a specific strategy and plan, you will succeed. But if you invest without a plan and invest blindly because you think it's easy, you will lose.

In all aspects of life everyone has a goal including in investing Bitcoin.
To achieve the objectives, other abilities need to be sought such as learning to prepare plans and other related management to support the achievements.
There's no way someone will invest if you don't know how to invest.

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