Topic: Reason for acquiring bitcoins. - page 2. (Read 1115 times)

There are different reasons why people acquire bitcoin in respect to everyone's decision,but the sole aim of acquiring Bitcoin is to make more bitcoin in the long run.
Most people want to prioritize their financial freedom that's why they acquire bitcoin.Financial freedom is the goal for being free from centralized authorities,a state where you become your own bank.
Payment are digitalized so a person can decide to acquire bitcoin to sort out bills&payment online.
In summary bitcoin is a store of value that it's price is appreciated in the long term,so it can be acquired for future investment and financial growth.

In simple words bitcoin is a digital currency use for online transactions, your question depends on your view towards bitcoin, a lot of people choose bitcoin as an investment choice cause bitcoin serve as a valuable asset, store of wealth, profit making. When it comes to financial freedom bitcoin is a perfect example with no third party involved, sometimes the stress involved in the banking system can increase the adoption rate of bitcoin, alot of people have different reasons for choosing bitcoin but the most common reason is for profit making.

That's it. In part, Bitcoin is an investment like any other (but unique in it's kind, and appealing to many people who is looking to diversify) and, however, it has also an underlying philosophy that convinces many other people who wouldn't be interested in legacy Wall Street or Big Tech investments.

When you acquire Bitcoin you're accepting a responsibility, acting like your own bank, but also with the message you're sending to the markets.

Yes, in essence bitcoin is used as a tool to store wealth and multiply the money owned, whether it wants to be an inheritance or anything for himself or his family it is a variable that can change over time, but in outline the purpose of investing in bitcoin is to seek the benefits that we can get from accumulating it and storing it over a long period of time.

Inflation in my personal opinion is a separate force to increase the price of an item including commodities and investment assets, such as gold or bitcoin, with inflation prices getting higher and lucky for those of us who store the value of our money in bitcoin.

Investors don’t just buy Bitcoin for holding shake and take profit later, some invest their money on Bitcoin as a means of reserve and inheritance for their children and extended family where they can transfer it as an asset to their family in time to come and the value might have either doubled or even if still in same price which is not possible inflation won’t affect it most compare to how it would have affected cash stacked in a local bank account which the financial system will still charge you for maintenance and other reasons which they use to debit someone.

It would surely just gonna depend on the reason of the holder but there are sure many different reasons behind it, but I would probably say that a high percentage of those people are doing it for profit or money.

I mean there are people that doesnt have any plans on selling their Bitcoin until they die which is almost similar to religion at some point, maybe like Bitcoin believers, but if they dont want to take profit from it, that just means that they dont want the money on it, probably status, standards, etc. Since having or holding a huge amount of Bitcoin could be a title probably.

I have some friends who don't have any plan on selling their Bitcoin investment just because they are going to use it as an inheritance for their kids or something like that which I think is going to make more sense.

Personally, I'm holding Bitcoin just as an investment to make a profit, so I keep on accumulating Bitcoin, probably going to sell if there is a good opportunity in the market, after selling and making a huge profit from it, just going to repeat that cycle again probably buyback when the market is down again to create more and more profit on it. I dont really see Bitcoin as a digital currency at this moment since the market is just volatile it's not really fit right now, but I think it's fit as an investment, and for sure a lot of people are doing it because of that reason as well, but in the end there was no right or wrong about it it is still going to depend on you how you're going to see buying Bitcoin on your perspective.

It is very simple. The essence of buying bitcoin and holding is to keep it as a great store of value because as time goes on so is Bitcoin gaining in price due to volatility. It is another way of keeping your assets from local banks. Because if you put your fund in the bank, there is no possibility for greater return. Instead inflation will eat it up. Holding bitcoin for long does not mean that you will HODL forever or wait for it to attain ATH before selling or buying back when it is dip. Thou It depends on people, because people have there opinions and thoughts on how they do there investment. Some might like to sell when it's high and buy when it's dip  while some will hold for as long as 10 to 15 years before selling them off.

To know the sole purpose of earning bitcoins you must continue to invest using the DCA method and hold it for a long time. Also if you want to earn bitcoin without investment then must get good rank in forum If you can get good rank in bitcoin forum and gain minimum full member then you can earn bitcoin very easily. But always remember that earning bitcoins is not very easy, you must work hard to earn bitcoins. If you work hard and build some nice ranks you can earn bitcoins from forums that you don't have to buy with any money.

Yes, it’s certainly big profits and returns of investment. As much as possible, people will buy and hold maximum amount of bitcoin simply to gain huge profits when one decides to sell at a higher price. And since bitcoin is for long term investment, people hold bitcoin in preparation for their future retirement. While few people buy and hold bitcoin for short term, but majority still hold it for long term, because the higher the years you are keeping bitcoin, the more promising profits you will benefit in time.

I agree more with you because this is a logical explanation of how I see Bitcoin, I am new to Bitcoin as I haven't even acquired my first Bitcoin yet but from the replies/conversations I've seen here so far I would say that the reasons for acquiring Bitcoin vary from person to person and we are all our goals and interest, for some it could be it's potential as a store of value and investment and for others it could be it's high level of security and privacy, most individuals have benefited hugely from Bitcoin so I would also say that the reason to acquire Bitcoin is financial freedom.

Since Bitcoin is very volatile, we can always buy and wait for the market to increase in price so that we can benefit from the market.
The market is going to be bullish so all we can do now is to keep buying Bitcoin and holding for a future of Profitability.
The profits season is here and we don't have to have to be too conscious about it thinking the market might go bear as well.
One of the reasons why we keep acquiring Bitcoin is for us to make profits from the market. Everyone wwanh to hold and earn.

Well holding or selling off your Bitcoin is totally the individual decision because I believe that each and everyone has his or her motive of investing on Bitcoin, so if you feel that holding is the best strategy then better, in otherwise if buying and selling to get quick profit is also best for you then is okay, but for me I use to be emotional if something is not going towards my expected points so perhaps holding will be the best strategy for me so that I will remove my mind from being curious about the price movement also I realize that holding doesn't involve too much risk unlike trading.

An idea investor sees Bitcoin investment on a long term perspective, and having volatility as Bitcoin functionality it is expected to buy and hodl in other to have a compounded value of his investment over certain periods of time, Bitcoinis is a world class asset that is a store of wealth and value for future profits maximization.

Everyone has some personal reasons behind holding Bitcoin. But for whatever reason Bitcoin holds up, at the heart of it all is the return on investment. Some are satisfied with a small amount of profit and some wait for a long time to get a relatively large amount of profit. Some investors hold their investments for a short period of time while some investors hold their investments for a long period of time while also investing in DCA investment strategy. Investing in this strategy allows the investor to hold his investment for a long period of time as well as realize the financial freedom he wants to invest in Bitcoin. This investment strategy is currently a favorite among investors because any professional can invest in this investment strategy.

I would say it's a blessing to be able to afford to invest in Bitcoin and then leave it for as many years as possible and don't need money at all. Not a lot of people can do that because one might invest, but they might need to sell their assets later when the price goes up a little because they know they might need the money. If you can buy Bitcoins and keep them for as long as you want, that's a great thing and you surely have the freedom to increase your wealth.

A person like me can barely buy some Bitcoins by saving some money every month, and the aim is to get as much profit as possible but not by holding the assets for too long like a decade or something. Holding them for a complete cycle or even less than that must be enough to get the desired results.

Some holders may buy Bitcoin and set the target for profits on the ATH. But other holders don't set the target on the ATH, they target to take profits once it reaches certain percentage of the growth. For example, I bought Bitcoin at $40k last year and I target to take profits when it grows 100%. It means when the Bitcoin price reaches $80k, I will automatically sell my Bitcoin and take profits. I don't care whether Bitcoin to reach $100k, $150k, or more. When it fits with my target, I will secure the profits.

However, some holders may take profits gradually, they don't sell all their Bitcoin at once. They may plan to sell a half of their Bitcoin when Bitcoin reaches a certain rate. Then they will sell again some of the Bitcoin when the price goes higher. Well, it depends on the strategy used by the holders. But I believe that not every holder sets the profit target on the ATH.

Why do people do anything in this world in the first place? The answer should be to get profits and thats what makes people go into Bitcoin purchase because of the high probability of people getting profits. Bitcoin is a medium that makes it so easy for people to get profits at a very high amount without doing much stress, the only factor is that one must know fully the basics of Bitcoin and you are good to good so tell me is that not enough for people to buy it?

From the beginning, people doubted Bitcoin, and they did not expect the whole thing to be a turnaround. Over some years now, bitcoin has gotten such remarkable growth that even the early investors did not believe it would come alive. Plenty of them would have sold their bitcoin, while some would have lost access to it. and Bitcoin has continued to expand and will continue to expand, Bitcoin, in general, is pulling a large volume of transactions ranging from thousands to hundreds to millions to billions. and Bitcoin being an investment tends to open the way for people to make money from it.

The point of people rushing into Bitcoin is not more than making money from it, and that is exactly what we are all doing. We want to make money. Buy-and-sell is not the only option now you can also trade for those who do not have a large amount of money to invest. Trading is a good option, and holding is also good, but for me, when you have good money, that way you can enjoy the purpose of acquiring bitcoin.

 Normally bitcoin was meant to buy things online and to pay for services digitally but that part of bitcoin is not working as the investment take over. Because of the value of bitcoin, people has left using using bitcoin to buy something for the investment and as I said some of the reasons have been already stated here. It is because Tor value and the appropriating level of bitcoin people just going into Bitcoin to accumulate and hodle for the bull market. Nobody make investment and keep there forever there must be a time to collect the profit form the investment and bitcoin investment is not an exceptional.

Very correct. But understand that this wasn’t the reason why Bitcoin was created at first. I am not saying it’s wrong or improper to buy Bitcoin for that reason but then, I had to first explain that in my previous reply that there are a couple other importance of buying Bitcoin. But the most important which is why Satoshi Created Bitcoin is the ability of Bitcoin to eliminate middle men; giving us the P2P transaction.