Topic: Reason for acquiring bitcoins. - page 4. (Read 1019 times)

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.

People buy bitcoin for different reasons but the majority do it to gain profit and the common one is buy dip and sell the news, mostly not when there is ATH but when they have had enough profit. That's what they do continuesly. The reason why this is also common is that Bitcoin is highly volatile and in every of his cycle, it will go up and down, these continues waves is what traders utilize to make their profits.

We have some countries that has excepted Bitcoin as a legal tender, El Salvador is one of them and as I'm writing this, he is been re-elected for second time president of the country where Bitcoin is free to use for all, you are free to use bitcoin to buy what you want over there. We also have some companies that accept Bitcoin too. As for the 21 millions, the rest of the supply will not be fully mine until the next 100 years, so that's not a problem.

Every person in this world wants to be rich. From birth to birth we have the main goal of being rich. Bitcoin is considered to be the most profitable asset since its inception. People hold and buy it in order to increase its wealth. Moreover, since it is decentralized, having Bitcoin means having our own bank in our own hands. So use the DCA method and wait for the price to rise.

Well, people have varied reasons for acquiring bitcoin. Some may just want to take advantage of its technology, others may have future plans to use it as a payment option, and majority share the same reason which is to invest and hold and make good amount of profits. For me, I certainly fall on the last. But now that I also realized about having financial freedom, I started seeing it as a good currency as well in the future, and definitely a good retirement for us.

However, despite having bitcoin as the talk of the internet, I still believe that a lot of people are not aware about bitcoin, or they heard about it but they didn’t care since they don’t actually understand bitcoin in the first place.

Bitcoin, to me, is where money and ownership works, and it is an investment opportunity of the 21century or our lifetime. I invested in Bitcoin because it acts as a catalyst to my investment dream because when I was growing up I only used to hear about investment in Real estate, the stock market, and Gold but never had the kind of funds required to start my investment journey but Bitcoin existential made my dream happen too fast and become a reality today.

Reasons for acquiring Bitcoins are for funding illegal companies, money laundering, evading from paying tax, buying drugs, and other illegal things. Just trying to give other answer.

I never thought I could make this silly mistake , just realized it now, thank you.

OP sees the main "reason for acquiring bitcoins" in speculation on the difference between purchase and sale prices due to the increasing deficit in the production of bitcoin Has the right to do so.

But everyone has their own reason for acquiring and accumulating bitcoin, which means that not everyone will agree with OP. This financial instrument can be used to achieve various goals.

For most, this reason is the main incentive.

But this doesn't mean that there are no other reasons or that several reasons can be combined at once (financial independence and freedom).

Your question is actually good, I mean it's nice but the reason why most people joined this stuff is for profit making. Though some people have different mindset on how to go about it i.e to say that some people wants to buy and sell instantly why some wants to buy and accumulate enough of it before they can think of exchanging or selling.
However, what will work for you will/may not work for another person so if you want to buy and sell is left for you and if you also want to accumulate it, it's also left for you because everyone needs to have their strategy. I don't think you should be asking for advice on what to do with your Bitcoin.

The major reason why people is deeply attached to bitcoin is nothing but profits. In fact, we dare to accept losses and mistakes in the process as long as at the end of the day, our bitcoin investment will come into success and that make us eligible to gain profits. We even sacrificed our comfort just to achieve our desired goals for Bitcoin accumulation, that is doing DCA consistently, and everything is fine for us as long as in the end, we will live our success with bitcoin.

The essence of buying and hodling Bitcoin is a fascinating journey that varies from person to person, and there isn't a one-size-fits-all answer. Here are a few perspectives:

1.Long-Term Investment: Some see Bitcoin as a store of value and a long-term investment. They accumulate with the expectation that its value will increase over time, possibly selling at an all-time high and reinvesting during dips.

2.Digital Gold: Bitcoin is often referred to as "digital gold," implying that it serves as a hedge against inflation and economic uncertainties. Holding it is a way to preserve wealth similar to holding precious metals.

3.Medium of Exchange: Others view Bitcoin as a digital currency, emphasizing its use in transactions and as an alternative to traditional fiat currencies. They see it as a means of exchange and a revolution in the financial system.

4.Limited Supply: The fixed supply of 21 million Bitcoins adds scarcity to the equation. Some hodlers aim to be part of the journey until the last Bitcoin is mined, believing that scarcity will drive up its value.

5.Philosophical Beliefs: Bitcoin has attracted a community with strong philosophical beliefs in decentralization, financial sovereignty, and individual empowerment. For some, hodling is a way to support and participate in this movement.

Ultimately, the objective of acquiring Bitcoin depends on your personal financial goals, beliefs, and risk tolerance. It's a dynamic space where individuals find their own unique reasons to be part of the crypto revolution.