Topic: That's why I really like bitcoin :) - page 2. (Read 1740 times)

Storage needs to be done both online and not online. In addition to online storage, it is very necessary to store on the hardware. If the storage has been carried out to the backup stage in another location but still has the potential to be lost when a natural disaster occurs, it means that there is no safe storage area anymore. This means that if a natural disaster occurs that can damage homes and other facilities that can cut internet access, then what chance of losing our BTC assets?

Giving the internet a form of money it has energized greatly the cause of the global netizen.

Bitcoin and Satoshi is freedom. I'm glad we're having more people loving and wanting to know more about Bitcoin, I have a friend who made it genuinely through Bitcoin and he has been one of my greatest motivations towards attaining my financial freedom through Bitcoin. Though there are numerous downsides to Bitcoin, I've decided never to give up because I'm certain and know that nothing good and sustainable comes easy and Bitcoin has come to stay and one thing I love so much about Bitcoin is the great opportunity for diversified wealth creation it has provided for many.

Why we also focus on the sweet and happy sides and moments of Bitcoin we should also have in mind the downsides and also remember to be smart as life isn't the way it seems, same as Bitcoin who rewards smartness over severe hardwork.

I believe that people that do not understand why they started investing in Bitcoin other than just for the profits would likely be those that can easily be deterred by all those negative occurrences in the Bitcoin space. The only supposedly downturn to Bitcoin most complain about is price volatility (Bear market), but those that understand the good to that aspect know not to worry but take advantage of it, and other than this, Bitcoin for me has been the better investment than any other in the past decade.   

I appreciate Bitcoin so much as it has unique technology and principles of operation that outweighs the traditional ways of investment and settlements, but in fairness, gold, silver and fiat have their advantages over the cryptocurrency too. As much as I would want to say I love Bitcoin more than the others, it might only be about the low transaction cost and the decentralization of BTC that would be the valid advantage of it over the earlier listed ones.

Well, to be honest, sometimes I get annoyed with how bitcoin price changes suddenly. Like you if you have plan to sell some of your bitcoin because you want to spend for a very important reason, and then it’s price suddenly fall, you will end up feeling disappointed. But now, I get used to it. Instead of hating it’s volatility, I learned to accept it and get used to it and just buy instead when there are opportunities to buy more.

The extra great things about bitcoin likely causes it to be something in the neighborhood of about 1,000x better than gold - even though it could take 20-200 years for the market to price in such reality (and for the vast majority of the population to also realize such), so therefore, even if we cannot be sure how long it could take for the market prices to work out, currently we can see that bitcoin has a market price that is about 1/20th of gold's even though it is about 1,000x better.  How to respond to such disparity seems like a fairly obvious answer for those who can see (recognize) the situation for what it seems to be.


Bitcoin is good for almost everyone, even if they do not know about that, yet.  Bitcoin is also better when the proportion of holding it is figured out in balanced kind of way, instead of considering how much to hold in terms of "all or nothing."

And, of course, it is more good for some people versus others based on some use cases that they might have or that they might have some conditions in which they would particularly be advantaged more than others, relatively speaking.


There's some truth in what you are saying, but I would not assume all publicly accountable institutions are evil.. so there would be degrees in which they manipulate information or engage in sloppy accountings.. or in the broader cases when money printing is going on in a way that taxes the public without getting consent..   Privacy is not completely a bad thing either.. so frequently there are needs for privacy, too... It seems that bitcoin changes some of the dynamics, but there still are going to be some needs to protect some of the privacy related to finances for some institutions that start to use bitcoin or holding it in their treasuries... 

Yes, that is why many people like Bitcoin and they will continue to like Bitcoin, because you can use it to buy what ever you want in the market without holding it like fiat money before they can release the products to you in the market, because people know that Bitcoin is different from fiat money. Bitcoin is very easy to move from one place to another without the fear of robbers, because it will be difficult for the robbers to know if you have $50b or $100b in your wallet at the moment compared to fiat money you will use security personnel before you can be able to move $500b or $100b from one location to another within the country.

In general yes but personally it depends. If you store your keys on a paper or even in a steel and you don't back it up on other locations then you might still lost your btc whenever there are natural disasters. You can say that you have done some back up including online but you can't still access your btc's right away if there is no internet or electricity in the area caused by natural disasters.

The one that can be affected with this are not only those who use their btc as an asset but also those who use their btc as a currency. This is one of the disadvantages of having a virtual currency/asset such as bitcoin but this doesn't discourage people to have a btc because natural disasters doesn't occur at all times.

Fear will always stick with us when there is a prolonged bear market or other bad news that affects prices that go down, I think it's natural because they are just starting out, so when there is anxiety in the mind of course it can't be controlled and it is often the wrong steps to take. taking action knowing nothing when faced with bad news from to unpredictable markets.

That experience will change your mindset for the better to get to know bitcoin more deeply, let alone have the courage to collect bitcoin slowly without any fear, of all that requires the guidance of others so that you can feel confident when facing any problem, and indeed regret it is always there when there is an opportunity that cannot be used, maybe all investors experience the same thing, but with that experience you will think a little more deeply. how to collect bitcoins.

The DCA strategy is simple and effective but it all has to think about our expenses as described earlier, in essence there must be an adjustment to needs and separate it from bitcoin.

Honestly, it's not easy to go for a long time with that strategy but whatever it is you have to do, if you don't do it then of course you won't know the experience you are going through.

Bitcoin like everything else in the world, cannot please everyone. The government saying bitcoin is not good does not mean not good, not good for them but it has a lot of benefits for us, maybe it's not good for you but for me it would be great. The transparent system is what makes bitcoin different from the fiat they created, decentralized, transparent is the core of bitcoin, so they can't accept it. If they accept bitcoin, they won't be able to hide the crime they are committing behind the backs of citizens who trust them.

What I like about Bitcoin or crypto is the anonymity and how we could earn on our own time.
How easily we could use it to be honest I know some people who actually had crypto wallet first before having a bank account because of the same reason, they want anonymity.

I agree with some of the points you mentioned. Maybe for me, who is tired of carrying paper money everywhere, of course it is very annoying. Moreover, if I forget to bring the money I have to go to the money withdrawal machine. With bitcoin everything will be easy to make payments, it's just that the level of adoption of bitcoin must be truly universal for all people to achieve that.

The third party just doesn't want to make any official recognition of the benefits of Bitcoin. They personally continue to set aside money to invest in Bitcoin because they know that Bitcoin can be a valuable asset in the future.

In line with your assumptions. None of their institutions are clean from corruption. Because the Bitcoin system is very transparent, those who still put their personal interests first will still reject the Bitcoin transparency system.
As supporters who will always support Bitcoin, we better forget about the third party because it can waste energy.

Throughout history, there has been a conflict between solid currencies such as gold and silver and fiat currencies. Bitcoin has emerged on the stage of history as an additional alternative to solid currencies such as gold and silver. I'm already on the side of solid coins. That's why I love Bitcoin so much. We don't need to count the extra great things like peer-to-peer payment, decentralized structure, semi-anonymous structure, financial freedom and portability...

Then why is it so difficult for governments to accept Bitcoin or other cryptocurrencies as currency. I believe, most of the current use of Bitcoin is private parties, while government agencies are more controversial and even reject Bitcoin.
If Bitcoin is good, why don't they use it? Of course this is a question that arises in our minds.
We know that most state institutions around the world are not clean from corruption. So they reject the transparency system that can interfere with their actions, namely corruption. They don't reject Bitcoin, but they reject the transparency system that exists in Bitcoin. My assumption is so, although the assumption is too much.

The hope is that the market cycle is still the same as the year that has been running. Bitcoin will be up to the new ATH again. Although I am actually a little worried, but always do asset management to prevent bad things from happening.
Logically, with limited supply and increasing demand, prices will continue to rise. But I realize all predictions can be wrong, although many people are optimistic but it will make us feel a little more at ease. For people who have gone through several periods, they will indeed have a better mentality.

In the bear market of 2018 I also felt fear because my income was only from trading crypto on the exchange. But I am now used to it and have prepared a few things to be able to survive in this kind of situation. Of course it is not easy we have to keep trying so that all can be passed.

Your thoughts I read from this post is too complicated. You need to read a lot about Bitcoin so that your knowledge of Bitcoin is not narrow.


As an intangible currency, Bitcoin is an asset that will stay in the event of a natural disaster. This applies to people who already have Bitcoin as an asset. This is one of the advantages of Bitcoin and Bitcoin will be a virtual currency that has a very high price someday even though the current price is still $19.xxx.

Hopefully everyone knows that there is a need for a back up for the "brain wallet".. In other words, even though it  is fine to memorize your seed, you also better have it written down somewhere and/or some other means of getting at your wallet just in case something goes wrong with your brain.. including walking down the street and piece wood hitting your head.. and then you forgot everything... accidents happen.  and memories get messed up.

By the way, the brain wallet can really be good for crossing borders and/or other ways in which you might end up getting searched or questioned... but you still need to have an ability to access your seeds in other ways in the event something happens to your brain/memory between the time that you are transporting yourself from one place to another.. including time and distance..