Topic: Reason for acquiring bitcoins. - page 4. (Read 1115 times)

The main objective of buying Bitcoin is to get rich but the approach of the buyer may differs. There are some persons or whales who bought Bitcoin 12 years ago, who haven't sold a dime from their stach, and are waiting patiently for a particular timeframe to sell. While for others who understand how the market works, the bear and bull season is the perfect opportunity to take profit. They keep repeating the cycle over and over, but the objective is still remains the same.

I am still a newbie but from different discussions I've heard from different conversation and thread I discovered that Bitcoin is long term store of value which can not be compeard with other form of investment. Other form of investment might have volatility but bitcoin stand as an investment with extreme volatility, which means in future time It will be very expensive and those who hold for long will enjoy the benefits of holding bitcoin for long.

most people buy bitcoin for future profits, and some for international payments. because as is known, bitcoin allows cross-border payments to be faster and more secure compared to using platforms such as western union, paypal, etc., where the fees are high and the waiting time can be 1 day. and because of the potential of bitcoin, now more people are investing in it because they understand how in the future bitcoin will be increasingly adopted by people and its use will probably be more massive.

Everyone has their reasons of investing in bitcoin or hold it for a very long time. My reasons might not necessarily be yours and the reason of a rich to be in bitcoin will definitely differ from the reason of a poor me. But generally, the main purpose of many people who joined bitcoin is to become rich through bitcoin.

Below are my two reasons of holding bitcoin;

• I believe bitcoin can make me comfortable because it has made so many already 
• I don't know what the future holds for bitcoin, so I don't really want to miss out on the biggest opportunity incase it turns of huge.

People who want profit from bitcoin will have different thinking and strategies. They can choose either investment, trading or leveraging with different tastes of risk taking and capital management.

They can feel that if they take high risk, they will have chance to get bigger profit and get rich more quickly. However, they must know that taking higher risk will equal to bigger probability to lose their money and get poorer, not richer.

Investing with their money, no loan, no leverage, then they will be able to hold and get profit. If they can do this, they can very likely gain profit according to Bitcoin history.

https://casebitcoin.com/charts#roi_chart

Majority still acquire bitcoin for sole profits. That is the reality why a lot of us here would want to make sure to accumulate bitcoin when there is an opportunity to buy and hold, because when there is huge accumulation and hodlings, there will also be massive profits in the future. However, others might only be riding the hype and when majority of the people are selling or buying, they intend to follow them too without evaluating their own decisions.

Over time, the goal has shifted - the average user makes bitcoin an investment asset and a means of making profits. Buy on dip and hold is an investment strategy that has grown among users - investors take advantage of cycles and earn returns.

Bitcoin was created as a currency - it is different from other currencies which are centralized. It can be traded as the market grows - demand increases and it has become an established asset. Even bitcoin is a store of value asset for some users - a hedge against inflation and others. Now it all depends on individual interest and why you own bitcoin rather than thinking about other users.

Yes Dear in my opinion you should buy it and hold it for the long term or wait for the time when it will make its new all-time high rather than that I would advise you not to trade Bitcoin just buy Bitcoin and hold it for the coming new all-time high which is expected to be $100k as a prediction very soon well dear it is not soo accurate prediction it is just an idea because no one can time the market so accurately and 100% correct. well, I would like to say wait and watch the movement of Bitcoin and enjoy it.

On the other hand, you should accumulate bitcoin when market give you a good buying opportunity because there is so much good news in the current time which gives us to have more amount of bitcoin and as a result, we will have more profit one of them is the approval of Bitcoin ETF and involvement of Blackrock in the bitcoin. So, keep accumulating Bitcoin if you have sufficient funds. I was reading a kind of post where the author mentioned Bitcoin will surpass the gold market cap in the coming time which will be counted as a big achievement for the Bitcoin ecosystem. It has crossed the Tesla Market cap which is world big known company that produces electric cars. After all that, I would advise you to do your own research before taking any action because it is the best part. Many Thanks!

The main objective should be to acquire BTC in order to trade goods and services. Because that was the aim of Satoshi Nakamoto when he created it. And adoption will never happen if people just hold them in their wallets and never use them. However we need BTC to be spread if we want its price to increase in the coming years.

Acquiring Bitcoin to my opinion is of different reasons to the individual.some person might buy it as an Investment and when every they are in need they sell.why some it can be a long term investment for them.i know of a friend who but Bitcoin years ago and kept it for long,and when he now needed it is coins as appreciated him double.so you have to no what you are acquiring it for.

If no people want to get rich with Bitcoin, we would have not had a big Bitcoin market like now. Big in trading volume and existences of many exchanges from centralized to decentralized or peer-to-peer, for trading bitcoin.

People want to get rich so they are free to speculate Bitcoin future and its price. It's natural and very necessary for market movements because without greed and fear, we will not have trading volume and there is no market.

They want to earn profit that is their ultimate goal. They can start with investment and change to trading or they can start oppositely with trading then turn to investment. Investment or trading, it is helpful to increase trading volume for Bitcoin market and create supply and demand.

To hypocrite for them if they say they are not in profit since there are lot of payment method to use if they want to use for that way and for sure bitcoin will not known if there's no profit thing introduce to people. Also for now there's a lot of people are here for profit reasons and second with that is the technology that's why we can always see people speculated about its price since they always think about how much profit they can take for the target time they are looking forward with it.

Also I think the main reason why people invest on bitcoin is to earn and not those any other reason that picture out on your mind since for now bitcoin is not well adopted yet that's why people think about it as investment and there's few people think about use this as currency.

You are right in your last point, when you hodl Bitcoin you have your money in your own custody and under your control, but i somewhat disagree with your first point of Bitcoin making many people millionaires.

It isn't as easy as just buying Bitcoins and the next thing you know is you are rich, quite a lot of people tend to think this way and end up being disappointed, before you can make so much money through buying Bitcoins, you either bought or mined a lot of it a long time ago and you have been hodling since then, for those who buy only when they see an appreciation in its price, there is no way they can become "rich" doing that, even though they can prolly make ROI.

They want to gain financial freedom. With a written history, many people are interested in increasing the amount of bitcoin. I believe the ever-rising value makes a lot of profits that help their economy get better. There are no complicated arrangements to asset management. I think that's the main factor in the crypto industry being very strong growing. Just look at the time when a lot of crypto assets appear with the technology brought even though it does not have a strong guarantee they are able to provide investor profits. So I see there is some kind of good picture for the future of Bitcoin.

The reasons why people buy bitcoin is all the same; to make profit from the initial investment, but the approach towards the market might varies due to level of thought or mentality.
But one thing i'm certain is that, 1:2 of bitcoin investors are pushing to be capitalist rather than the communist the government wants the citizens to remain. I see bitcoin investors as individuals who wish to take control of their wealth in their own hands, they wish to go through the pain and the joy that the market may bring, rather than saving up money in the bank and letting others use it.
They chose to work for themselves to gain wealth.

The main reason for buying or acquiring Bitcoin is to get rich. People usually invest in these assets to get rich quickly. Over the years, Bitcoin prices continue to amaze many people and I am imagining about the people who bought Bitcoin 5 or 10 years ago. I am sure they became millionaires. If, in this short span, a person becomes a millionaire, then why not try your luck in it?   Another advantage of having Bitcoin is that you will have your money in your custody.

I think you should spend more time learning about Bitcoin. Payments, medium of exchange and value savings etc. are possible with Bitcoin. It is a decentralized digital currency. Its use is increasing with time and the number of investors is increasing. So you might as well keep up with the times. It can become very profitable for you. Hopefully after knowing all the information about Bitcoin you will start holding Bitcoin yourself.

If not for the profit I don't think people will have much interest in bitcoin if not for that profit. They won't give much value as a currency. A lot of investors invest to make money for them self and only few have there kids in mind. And if the price goes the next thing  that comes to there mind is to sell and we all know the condition we are because we need money. And am still trying to picture the reason behind everyone investing, its like everyone has there own reason so am trying take out interviews from. People close to me to know there reason of invest. As for me I know am coming for the profit I don't knowledge for others.

For payments, we always say that because that usage of bitcoin has never been gone. But the majority is acquiring bitcoin today because of the future plans and making money out of it.

Maybe some just do it for fun and they're bored with their lives as they've got nothing to do and they've got tons of money already so, they use it just to play with their money's value and try to increase it.

Many people have different method of investing in Bitcoin the most thing that they do all the essence of mind Bitcoin and hold for long time is because of profit making because it is advisable and the encouraging to purchase a Bitcoin when the price is low and hold on to the bullish market manifest why you are expected to purchase the Bitcoin when the price is on bearish so that is why many people who turned to a billionaire today through a Bitcoin invested when the price is low and the cell when the price is high

As a newly investor you have to target when the market is going down and the purchase when the market is extremely low and have a mind that whenever the market is accelerating above the particular digit or amount you purchase your Bitcoin it is when you will sell and make a profit, so that is why it's been said that you have to scrutinize the market before entering into cryptocurrency investment especially Bitcoin.