Topic: Reasons to Invest in Bitcoin?? - page 11. (Read 1984 times)

First of all, if they only knew how good to invest in bitcoins whenever its price is down and it has lots of chance to bounce back again, they could have used more money more than they afford to lose. however, everyone should know when to stop in case of some unexpected happened and that's when the price stop at its peak. everyone should know if he has no alternative money to use and when the price is already high from the last time he invested, then he can get his bitcoins back to avoid a loss of ROI. you can have a goal where you set when will you sold your BTC but depends on your situation.

This one depends.
If you happen to hold your Bitcoins obviously in a custodial wallet, then you're not just risking your Bitcoin to be locked up from your account but you are risking your Bitcoin as well from hacks.
There are some number of newbies that think that if they enabled 2fa on those, they're secured already for life but they're not.

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You know what they say, "Not your private keys, not your bitcoin"

The total amount of Bitcoin is fixed. In the long run, it is better to avoid investing in gold when investing in Bitcoin. And Bitcoin cannot be copied, no one can modify it, and the security is relatively high.

For most developed countries, there's usually laws preventing a bank actually stealing your money. For example, in the UK, and the USA you are covered up to a certain amount of money if anything happens to the bank. For example, if they went bankrupted you are covered up to 85k in the UK I believe. So, your point about banks stealing money only applies if you have money above this threshold stored in one bank. However, you can mitigate this by having multiple banks which are legally registered, and covered which would allow you to effectively increase this threshold.

The biggest draws to Bitcoin are likely its decentralized nature, and the fact that there is a logical, and definite way of circulating the currency. There is no printing off more Bitcoin or introducing new Bitcoins into circulation, there is no massive injection of Bitcoin at one time. The math has pretty much been already done, and Bitcoin will continue down the path of releasing more Bitcoin into circulation at a steady pace.

Regarding decentralization; that's got to be the biggest draw. At the moment, the government, and various companies that handle your money in traditional fiat currencies means that you have to rely on several third parties to actually make a payment. While, the government has complete control on your money, and have heavy regulation. Bitcoin, which is now taxed by the majority of companies also has regulation, but is far less than that of a fiat currency in terms of the restrictions imposed on fiat currencies. For example, fiat currencies usually have a fee for transfers outside the origin country, and various other handling fees. You actually determine your fee in Bitcoin, it might mean that the transaction might take longer than average, and is definitely slower than fiat currencies currently, but it has a dynamic fee which you determine by increasing or decreasing the incentive for miners.

However, the reason you might invest in Bitcoin might be different from mine. For example, curently due to the nature of the Bitcoin market, there are plenty of investors investing into Bitcoin simply because its profitable, and is probably the most profitable nature due to the frequent swings in the market. Simply put; its a very volatile economy, which actually creates  some very profitable margins.

For your queries here is my simple explanation IMO.

Once big institution invest in Bitcoin and joining in the market, expected that they will become a big whale in the future.  Imagine if one of them will immediately sell their assets, of course it will make an impact directly on Bitcoin.  Regarding the most influential person now on Twitter, we have nothing to do since people keep believing in him, just close your ears to them and ignore him as soon as possible and no one will make a FUD in the market.  Bitcoin circulation too is easy to manipulate once you can able to play the market because Bitcoin price has a simple algorithm, it's because of the demand and supply.

Know first if your government accepts Bitcoin as legal in your country, if so, there's no reason Bitcoin becomes illegal in your country.  But as long as your Bitcoin didn't convert to fiat, there's no worry on the bank that will take action.

Who said you can't purchase using Bitcoin, there are too many online merchants that accept Bitcoin, and even the largest payment processor Paypal was already adopted on it.

Bitcoin is the best crypto asset to invest because it has a limited supply with a higher demand. It is extremely volatile asset that can give you huge profit if you invest it properly or holding it for a long term. Bitcoin has gold-like properties and the most trusted cryptocurrency. Billionaires, millionaires and many big companies are already investing in crypto and you can clearly saw the development in bitcoin after ten years of existence. There's a lot of reasons why it is good to invest in bitcoin but all is depends on your knowledge about it, on your capital and how you are going to invest. Remember that investing is risky and it needs knowledge so that you can hold when market is not good and not be a weak hands that easily panic selling during the downtrend.

How about because no other asset class or investment opportunity will quite gain in value to the degree that bitcoin has historically gained and will continue to do so... after all isn't the point of investing so that there can be a return on that investment? On average bitcoin has been growing %200 per year since inception... given its supply (fixed) and demand (ever increasing since still only a small fraction of the world population knows about crypto) dynamics, it's hard to imagine investing in anything else will pay off in time quite in as big of a way as bitcoin. Just my 2 cents. :-)

First I want to say that I have some Bitcoin and I want to see it go to the moon. But I have some questions regarding the reasons that people give as to why Bitcoin is a good investment.  

Reason 1: You are in control of your own money - government overprint cash which devalues the dollar, but big influential people and institutions can devalue Bitcoin with a single tweet. Bad news, issues with mining, and other things out of your control can devalue Bitcoin.

Reason 2: Nobody can take away your bitcoin whereas the bank can confiscate your cash and lock your account - should I worry about my bank doing this if I am not doing anything that is illegal?

Reason 3: You can send it to anyone in the world - why would people want Bitcoin when you cannot use it to purchase in many stores? Plus ii takes too long for 1 transaction to go through.


Please correct me if I am misinformed.