Topic: Special reasons for bitcoin purchase (Read 391 times)

It true that they invest in bitcoin because is real , no matter how tough the market can be people still believe that bitcoin is safe for investment. Because of how bitcoin is safe, reliable and has better value than any other coin you can think about, people would always want to buy it for investment.

I believe this is not what you really meant, maybe the opposite because what entice people about bitcoin is the appreciative value and decentralization nature it's built with, everyone want to go private and secured, no Involvement of third party ir indescriminate charges deductions from users account, control and freedom over financial asset is what the people and this helps in giving bitcoin priority over the fiat currency in preference.

I don't know if these are special reasons but 1) being an early adopter and onboard to the way of the future, 2) deflationary unlike inflationary fiat- people are getting tired of seeing their money buy less and less over time, and 3) diversifying ones own portfolio.

The main reason for buying Bitcoin is that no matter how much the price of Bitcoin is dumped, the price of Bitcoin is being pumped again.  People can easily invest in Bitcoin.  Bitcoin was then considered a digital currency.  Bitcoin has not been legalized in our country but soon our Bangladesh government will legalize Bitcoin.  Another important aspect of investing in Bitcoin is that if you invest in Bitcoin, not many people will know that you are very rich.  Everyone will understand if you invest in anything other than Bitcoin.  But I think this bitcoin has gained the trust of many people because they trust bitcoin and they buy it as a valuable asset.  The price of Bitcoin is low at the present time but everyone believes that the price will go up very soon and I believe that the price of Bitcoin will go up further.  That is why many people in our country invest in this cryptocurrency Bitcoin.

yeah, it's of Truth that Bitcoin is one the top coins in cryptocurrency industry you can invest with and have rest of mind despite of it's bearish season. No investors who knows the tradition of cryptocurrency and especially bitcoin that hesitate not to accumulate it's Bitcoin for future purpose. Because it's obvious that Bitcoin will return to the it's normal values and get out for the state of abnormal market value of bearish. No investors who is not buying more and more bitcoin and wait for bullish occurrence.

For the fact that bitcoin has the quality to appreciate people will always see it to be special , because the society we find ourselves today people need what will help them to be financially stable, and they found that in bitcoin.  People will always fancy bitcoin and want to invest bitcoin because bitcoin is the real money.

Bitcoin investment comes with many unpredictable outcomes. The only interesting and unique part of it is it's decentralization aspect. Knowing when to take advantage of trend is the only criteria to suit into the market condition at any point to profit from exchanges. Bitcoin is never a one way direction asset. It moves like ever other assets with highs and lows. Bitcoin as a  deflationary asset helps curb hyperinflation and increasing cost of commodities  and falling price of unstable fiat currencies using bitcoin as a store of value.

Lol... you'll wonder what has the user been doing on the forum all along! Perhaps, that's his or her reason for being involved in cryptocurrencies.
Come to the B&H board and you would be amazed at the things you would see. The misconceptions would just live you in awoh! Anyway, there is always room for corrections right... well to OP, Depreciation and Centralization aren't reasons at all, except you mean the opposite.  By that i mean, as something world citizens run from to make cryptocurrency investments then, I could see few reasons with you @OP.

Everyone has got his or her reasons for buying bitcoin and most times if we are to be sincere, its mainly for profit making as, its an asset that appreciates in value wth time. That's if your prepared to hodl for a long time but, for those having this mentality, it's possible but you must realise crupyos aren't some get reach quick scheme. It could go south too!

As for me the reason why I have always want to always purchase bitcoin is because I trust bitcoin even when the market is down, I have the assurance that the I purchased are safe and it won't totally wipe away, what I just have to do is to have patience to wait when the market bull. The mindset I have toward bitcoin can't be found in other cryptocurrencies.

The tremendous increase attracts all new people to buy Bitcoin. But they don't even learn what the risks are. So their main goal is to make a profit, the price of bitcoin has increased over Gold. In addition, trust in bitcoin began to grow. Many big companies own Bitcoin. In addition, several countries have also legalized bitcoin as payment. Despite the world bank and the IMF I think Bitcoin will continue to grow. This digital currency has been predicted for a long time and is now becoming a reality.
Despite many concerns from the government, many countries have provided facilities for crypto. They are aware that crypto provides benefits through taxes that can be taken from crypto transaction activities.

Am actually not surprised to see this, I think he/she wanted to come up with a thread but got it all wrong. Because I'm sure he must have been told, if you post a thread, you get merits which grows your rank on the forum, and forgetting the fact that thread differs, because I see no link-up with the title and the body of the thread. It's totally off point. (Sorry to say oh).. but that's the truth

Bitcoin has the capability to recover even with the long market downturn like what we are experiencing now. This is why I am DCA'ing with Bitcoin even though that others would say that it's "boring" and "traditional". However, it's one of the best methods to accumulate and build wealth overtime while waiting for the market to recover and start a bull run season even that there are no promises or guarantees about it.

I think that's not the right term to call it why there are people buying Bitcoin, I think it's because the price appreciate every halving cycle. But most people who would join the wagon is just after for the quick profit and unfortunately most of them suffered a lot from losses because they bought Bitcoin when it's on the top. This is why buying and accumulating Bitcoin when the price is cheap is more effective than waiting for it to go deeper which is too much for the others who won't notice that it started to pump again.

Bitcoin in recent times have changed some persons mode of storing money, they buy Bitcoin with an amount of money they feel if placed in the hands of traditional banking it might create certain questions, so they avoid such by buy Bitcoin which is non traceable and uncontrollable due to it decentralized nature.

The main reason for buying Bitcoin is that the price of Bitcoin fluctuates a lot. So buying Bitcoin can be very profitable. Bitcoin cryptocurrency is the most expensive currency in the world..

Nobody will intentionally buy anything if they are certain it's depreciative only. Nah! Again, I can see that you've been tutored that Bitcoin isn't centralized. By the way OP, next time while expressing an opinion you aren't sure it holds a truth you may want to state it letting people know it's what you think; not making it look like it's a general belief. To the best of my perspicacity, people buy Bitcoin because they believe it's an asset that has an appreciative value and not for the primary purpose of payment it was created for.

Bitcoin's 2017-2018 drop was a very sad drop in price, but on the other hand, those who bought at the bottom have really benefited. But at this time to reach back to the decline like in 2017 is still very far away. In cryptocurrency, anything can happen, but currently the lowest bitcoin price decline is still in the $17-$19k area, lower than you predicted. this could continue depending on how the market sentiment.

You missed something, OP. Bitcoin is a decentralized currency in which its existence solely reflects in a public ledger being controlled by nobody. One of the few reasons on why the government avoids integrating BTC to their current financial model is due to its decentralized nature- meaning it cannot be controlled by them. While this may be the case, some countries limit the transacting of BTC by implementing rules and laws against it.

Cryptocurrencies have this certain aspect that will help them become relevant in the future. I do consider them as the future of transactions given the fact that the world is slowly shifting to digitalized payments. Though this kind of transaction may be the ideal form, its full integration would take maybe tens to hundreds of years to come.

it's not that i don't know perfectly that is how bitcoin operate sometimes, that is while i kept saying bitcoin don't have a specific price or a price tag, bitcoin always grow in this shape and it's people who is new for the industry of cryptocurrency get scared of bitcoin depreciation in values.so even now some people is losing opportunity of purchasing because in due time the values will start depreciating. But due to what you portrayed, i don't think Bitcoin can retrace to the values of 2017 and 2018, it's decrement will end up on nineteen thousand and twenty thousand (19k & 20k).

It doesn't matter anyway. Bitcoin has been like this since and I don't mind about it regardless. I've been a strong holder when Bitcoin was like going down to 3k from 6k back in few years (could be 2017 or 2018 i can't accurately recall).
The volatility could be either taken positively or negatively by some.

Centralization? Bitcoin is decentralized, mate.
the reason why people are purchasing Bitcoin, and more holding Bitcoin even for the long term are because Bitcoin is a trusted cryptocurrency, the first, with this high value and market cap. people believe in the value of Bitcoin in recent times and also in the future. people believe by hlding Bitcoin, the price will come back higher and inreasing in the future.

bitcoin is the potential coin among other coins. The reason while some people preferred bitcoin is because it has more volatility than any other cryptocurrencies. And since it started decreasing and it affect any other coins. I know vividly that cryptocurrency Started this recent falling many theories began to speculate around the corner

What's up with the Hulabaloo ? These have been preached severally like a sermon in the church.
Mostly, people jump into Bitcoin of the liberty and freedom Bitcoin gives us. Also Bitcoin is a store house of value.
Since it's getting to digital age, Bitcoin serves as a backup for humans against government banks etc.  Although, there are a bunch buying Bitcoin coz they want quick money or to make more money.

There are reasons for investing in bitcoin based on the status of the investor or the environment.

1. Some persons purchase bitcoin in order to survive their daily needs. They buy bitcoin and pray it will increase in few months and they withdraw the profits for feeding, paying of bills, paying of rent and lots more.

2. Some have money and living well, they buy bitcoin hoping to be more wealthy in a decades time.

3. Some buy bitcoin because they want to escape the inflation hiting their countries.

4. Some purchase bitcoin because they want to be able to control their wealth and manage their money without third-party.

Amongst all, bitcoin solves different problems to different people.

Bitcoin is an ideal solution to one of the problems of inflation, which is the inflation resulting from mismanagement by governments represented in the random printing of money (increased supply) and thus the devaluation of the currency.
Inflation can have several causes and all traditional solutions may fail to solve them, so even Bitcoin may fail in that if inflation has other causes such as inflation due to supply chains, energy crisis, stagflation and other problems.

The good side is that governments often mismanage money badly over a period of 10 to 30 years, so in any case, Bitcoin will be a good long-term investment.

Surely? Centralization?
Read this:
https://www.coindesk.com/tech/2022/02/17/bitcoins-value-depends-on-its-decentralization/

Maybe you meant its volatility?

Well, whatever you meant, in my opinion, there are several types of person who are investing in Bitcoin:
- The one who really knows Bitcoin much, the trust value, and also its specialty as cryptocurrency, are the one who is holding Bitcoin for the long term, with a high trust that the value and market cap will always increase.
- The one who refers to profits. The long-term holding of Bitcoin will always bring high profits for its holders. Although the value of 1BTC will be always 1BTC, but in certain time after long-term period of investment, the value compared to fiat will be highly increased. And I think this profit is the most reason everybody wants to hold Bitcoin for the long term.

What do you mean by depreciation? I think you're confused with depreciation and volatility.

There's no need for any special reason to consider when you purchase bitcoin. The matter why people buy bitcoin is because of its future potential and we all know that volatility makes it even more attractive.

Just as what we see how fast it went down, then it will also be quick when it shall recover and when the price start to rise again but not today.

Cryptocurrency can change your life either in a good way or bad way depends on when you bought it and when you are going to sell it, I don't think bitcoin is great for some to use it as store of value because in the last 48 hours it dumped almost 30% and almost 70% from its all time high so it comes with huge risk.

The real reason to invest in Bitcoin is decentralization which gives you the freedom to use it, I mean the real freedom.

What are your source of learning about bitcoin which states it's centralised in the first place? If you have studied it properly then you must have understood that it's the first decentralised cryptocurrency that made it possible for us to have that financial freedom providing us alternative to the central monetary system and many more things.So if you say it's centralised then it's all wrong and it's completely decentralised in all the ways like no there is no main server, institutions,mining pools controlling it.

Even if we see it from Mining aspect then after the China ban the hashtate distribution has increased to different parts and there are many pools so nobody have the central chain of authority over it

   

So then you said about appreciation and depreciation then it's termed as bitcoin volatility and prices fluctuate on the simple rule of economics which is demand and supply so at this time people are dumping the coins and FUD is there which is pushing price graphs downward but if you have known btc for a while then you must understand it tends to grow in the long run as there is mass adoption on the line with supply shrinking.

Crypto market is big and there are thousands of coins trading over exchange and more than 18k listed on CMC so do you believe all of them are are like bitcoin? I would say none of them is like it and many people beleive it to be get rich scheme but are rugged by scam projects with shitcoins.The other coins are different but only bitcoin is good hope for us to deal with hyperinflation and if you know this fact then you how risky the market is.

People investing in bitcoin are of two categories like the first one is to make quick profits seeing prices rises in bull run but when it drops they panic sell contributing worse to the situation

The second category is people who understand bitcoin at core level and realise true financial freedom against government and with profit they can also gain in the long run.

You are mixing Bitcoin and cryptocurrency.

I discuss about Bitcoin only. It has many use cases, store of value, commodity, currency, tool for transaction, tool for gambling, whatever. In a nutshell, it has more than one utility. Different communities, different people will use Bitcoin in their own ways.

You are biased your post by yourself. Bitcoin # crypto. Please don't talk about Bitcoin then move to crypto. Bitcoin is deflationary but crypto is inflationary mostly.

My mind is blown — you actually managed to get 2 out of 3 things wrong, and these are the very basic aspects of Bitcoin.

And even if you got all these 3 right, what's the point of this topic in the first place? You're just trying to repeat things that have been said here a zillion times already.

The simplest and shortest answer here is that people invest in crypto because they hope to make more money than by investing in classic stocks, and unlike the classic stock market here they do not need brokers.
Another important reason to invest in bitcoin is anonymity because no one knows the owner of the digital wallet and the state does not have access to your digital funds.
Digital currencies are a common good, they are decentralized, without the control of financial regulators and so it should remain.
Today everyone wants financial freedom and crypto is currently the easiest way to do it.
As for protection against hyperinflation, I'm not sure that bitcoin can help in the short term.

The reason I often hear why many buy bitcoin is because Bitcoin is only considered a speculative asset, has high price fluctuations that will provide faster returns and vice versa.
For those who believe in bitcoin and not just about price fluctuations, but about the technology, of course they will buy and keep it or use it for transactions that use bitcoin.

Bitcoin becomes a good investment, but in the end we return to our own confidence whether bitcoin will be a good store of value or not for the long term. Bitcoin is decentralized and transparent so that no one has complete control over it. resistant to inflation, but has a high risk of decline in value.

Bitcoin is not centralized, it is decentralized. People buy bitcoin for mainly two purposes, to speculate and to use it as money. People who want to speculate buy and hold it for as long as possible, people who use it as money exchange it for commodities and services.
Bitcoin is a good hedge for storing inflationary currencies, but bitcoin is not a store of value per se, it does not hold value like conventional assets like gold, but if you want something to give you higher profits many years after, for hedging your money with it, bitcoin is the best asset for that, it is volatile and it might lose value in the meantime, but in the long run you will get profits bigger than most assets can give.

The reasons why so many persons invest in bitcoin is the depreciation, centralization and the appreciative aspect  in bitcoin. This stages are very important to traders or exchangers. it’s a medium of efficient, crypto currency has been a life change in recent years, it has been a great value  for storing assets, commodities and currency. These qualities attract to those who believe In future bitcoin. Crypto help those who have issues with hyperinflation..