Reasons to be attracted to Bitcoin - page 2.

Nrcewker

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Quote from: Assiduous on July 23, 2023, 02:28:32 AM

Currently, there are more than 1000 cryptocurrencies in operation around the world. However, Bitcoin is the most popular in the exchange.Created by Satoshu Nakamoto, Bitcoin has a current market capitalization of several hundreds of billions of dollars.

The main reason why most people are attracted to Eptocurrency is that it offers huge profits with low investment.Again, if its value suddenly decreases, there is a possibility of loss.

Profit is not the only reason for which people are attracted towards Bitcoins. It’s the freedom that they get from Bitcoins which binds them with the coin. Yes you can get huge profits from small investment, but the main reason people are investing in Bitcoins because of its decentralised nature. Bitcoins cannot be controlled by any government or governing body, hence people are saved from paying unnecessary taxes and fees. When people store money in bank, then completely don’t own it. But in case of Bitcoins, the whole finances belongs to you only.

CageMabok

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Quote from: Assiduous on July 23, 2023, 02:28:32 AM

Currently, there are more than 1000 cryptocurrencies in operation around the world. However, Bitcoin is the most popular in the exchange.Created by Satoshu Nakamoto, Bitcoin has a current market capitalization of several hundreds of billions of dollars.

The popularity of Bitcoin with market capitalization is caused by the increasing number of people who like and like Bitcoin, because they definitely buy Bitcoin on the exchange, even if not in very large quantities. In addition, Bitcoin was also the first to be known by many people in the past before there were 1000 other cryptocurrencies on many exchanges, so Bitcoin's current popularity is a very natural thing to happen.

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The main reason why most people are attracted to Eptocurrency is that it offers huge profits with low investment.Again, if its value suddenly decreases, there is a possibility of loss.

Losses are only for those who released Bitcoin at a low price after buying at a higher price, but those who still saved well enough to see a low price in the market will never suffer a loss. Because they can still wait for high prices to take profits when they want to sell them back into the market, so those who are interested in Bitcoin and profits via Bitcoin are people who are consistent and also full of patience in waiting for profits.

Husires

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This could be the reason for beginners, and that all these currencies are counterfeit copies of Bitcoin and do not have real technical development. It is like buying a fake global brand. It is true that it is cheap, but it will not be at the global brand price. You will find that the owners or sellers of that brand claim that it is original, but all they do is deceive investors to steal their money.

Therefore, the number of real cryptocurrencies is less than 100, those that have fundamental differences, and the rest are worthless duplicates.

knowngunman

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Quote from: Assiduous on July 23, 2023, 02:28:32 AM

Currently, there are more than 1000 cryptocurrencies in operation around the world. However, Bitcoin is the most popular in the exchange.Created by Satoshu Nakamoto, Bitcoin has a current market capitalization of several hundreds of billions of dollars.

The main reason why most people are attracted to Eptocurrency is that it offers huge profits with low investment.Again, if its value suddenly decreases, there is a possibility of loss.

There's nothing to take home from your post. Your topic says reasons to be attracted to bitcoin but you failed to highlight those reasons in your post. For your information, there's no major reason people are attracted to bitcoin because every individual reason differ and to each person, their reason is major. Bitcoin doesn't offer huge profit with low investment, It's not ponzi or gambling. However, some people are attracted to bitcoin for financial gain, while some are attracted because of its decentralized nature and to some because of its peer to peer transaction devoid of government control. Bitcoin also offer anonymous and privacy which may be the reason why some people adopt it. There'll be lose if it decrease below your buying price normally and vice versa.

michellee

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If people invest in Bitcoin with a small amount of money, they can't expect big returns unless the price is very high. If they invest $1000 in Bitcoin and then sell it for $1,000,000, the profit might be huge. But the profit will not be huge if they only use $ 100.

The profits they earn will be by how much they invest. And investing now is not just buying Bitcoins and done but they have to try to buy Bitcoins regularly over a certain period. That will make the Bitcoin continue to increase until the time they want and then they only need to wait until the Bitcoin price increases and then sell the Bitcoin.

And if the current Bitcoin price drops, it is a good opportunity for them to buy because, for the same amount of money, they can earn more satoshis than their previous purchase. But what attracts people to Bitcoin is that they can expect to make a profit in the future.

zaim7413

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Bitcoin not only offers benefits for investors and makes it easier to transact goods and services for its users, but there are also risks that can eliminate some of the value of money when it is in a Bearish phase. The convenience offered by Bitcoin has increased people's interest in Bitcoin, one of the advantages that Bitcoin has is being able to send money across countries without having to use intermediaries.

When a family of yours studying abroad needs money suddenly to pay tuition fees or pay hospital fees, you can immediately send them some Bitcoin to pay for their needs in a matter of minutes anytime and anywhere. The fast transactions that Bitcoin offers is another advantage that fiat money cannot do, besides that Bitcoin can also act as a long-term investment asset to store value against inflation.

Despairo

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Huge profit for low investment? yes if you bought Bitcoin when the price was $1,000 or lesser, now Bitcoin price is around $30,000 and the possibility to reach huge profit is unlikely as the next bull run many people expect the price will only reach $100,000 or 3.3x multiply, it also take few years to earn. Don't get me wrong, Bitcoin price will increase, but you can't hope your $1,000 would turn become $1,000,000 after 4 years, you're need to make money because you need to feed yourself.

Hatchy

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What do you mean by eptocurrency, I would likely assume that to be a typographical error. All you have said is true, as everyone here on this forum already know about it, so I don't see why you aren't telling us something we don't know.

Of all the existing cryptocurrency, Bitcoin has shown to be much more profitable with a market cap over $ 580.02B USD and most people would usually invest in it. Other cryptocurrency or rather altcoins are still in the early stages of development, and their long-term success is uncertain.

Quote from: Assiduous on July 23, 2023, 02:28:32 AM

.Again, if its value suddenly decreases, there is a possibility of loss.

Not just Bitcoin all cryptocurrency. As we know, cryptocurrency is a volatile technology that is affected by many factor, including Market demands, economy, technological advancement or even the social media. So when it's affected by these factors, there is usually a change in their values either positively or negatively.

Vickysagar

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Quote from: Assiduous on July 23, 2023, 02:28:32 AM

Currently, there are more than 1000 cryptocurrencies in operation around the world. However, Bitcoin is the most popular in the exchange.Created by Satoshu Nakamoto, Bitcoin has a current market capitalization of several hundreds of billions of dollars.

The main reason why most people are attracted to Eptocurrency is that it offers huge profits with low investment.Again, if its value suddenly decreases, there is a possibility of loss.

Those who are not stupid already know that Bitcoin is not a "become rich fast" investment. There are a lot of other reasons. it has big long-term potential. It's decentralized. It'sanonymous at least. Seems like you didn't make a lot of research before saying that.

mvdheuvel1983

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Quote from: Assiduous on July 23, 2023, 02:28:32 AM

Currently, there are more than 1000 cryptocurrencies in operation around the world. However, Bitcoin is the most popular in the exchange.Created by Satoshu Nakamoto, Bitcoin has a current market capitalization of several hundreds of billions of dollars.

The main reason why most people are attracted to Eptocurrency is that it offers huge profits with low investment.Again, if its value suddenly decreases, there is a possibility of loss.

People are attracted to Bitcoin for several reasons. The main reason for you to be attracted to Bitcoin may not be the main reason for me. Some of the reasons people are attracted to Bitcoin include
- Freedom from government and oppression
- Hedge against inflation
- Ease of doing international business (Cross order payment)
- Lower fees and lightning speed transactions
- Control of ones funds
- Generational wealth
- FOMO ...they do not want to miss out

It varies from person to person and country to country.

Assiduous

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Currently, there are more than 1000 cryptocurrencies in operation around the world. However, Bitcoin is the most popular in the exchange.Created by Satoshu Nakamoto, Bitcoin has a current market capitalization of several hundreds of billions of dollars.

The main reason why most people are attracted to Eptocurrency is that it offers huge profits with low investment.Again, if its value suddenly decreases, there is a possibility of loss.

Topic: Reasons to be attracted to Bitcoin - page 2. (Read 243 times)