Topic: That's why I really like bitcoin :) - page 3. (Read 1740 times)

maybe one of the best ways that can be followed by all those who are still concerned with the current movement of bitcoin, I totally agree with you, my friend, the DCA method is a way that may be very effective because it allows all to follow gradually.
maybe there is a point in really needing to learn about DCA if you don't fully understand it so that it can be carried out and used properly and accurately.
but indeed bitcoin is a phenomenon that provides many benefits for those who continue to hold it because bitcoin can indeed make all glued and fascinated by what will be done which in time will provide very good profits.

For beginners who are just getting into bitcoin, there must be a lot of fear when they see such a long bear market. because FOMO still really always affects beginners. but if they dare to collect from now on and hold it until the next bull market comes along. I'm sure they will love bitcoin even more. And those who don't buy now will regret it when bitcoin returns to its ATH. I'm still a beginner but someone taught me how to accumulate bitcoin in a simple but effective way, namely DCA. I hope other beginners will also use this strategy and learn it first. I love bitcoin more because I find freedom in it.

More than the reasons that OP posted, the fact that BTC is the currency under the blockchain speaks about financial freedom- lack of any control from the government on our transactions. This is mainly the reason on why some countries have their reservations on integrating it to their financials, though some countries have started adopting it even as a legal tender to their country.

Personally, BTC is something more of an opportunity; an opportunity that a person living in a third-world country that can alleviate my economic status with the right investment and knowledge on it. While it is not an absolute formula to success, the fact that it can definitely make someone live comfortably is enough for me to love it.

The features you mentioned in this topic are the features that put Bitcoin in the class of revolution. I also love Bitcoin because of these features, but I love it most because of its portability feature. Nobody knows how much money you have. No one will even know you have money. Just memorize your seed key and feel comfortable. Nobody can read your mind. This is a great feature.

Your realize that online/virtual can be part of the real world, depending on the application, and if you had not learned about bitcoin, bitcoin happens to be an invention that allows for value to be transferred in digital form, in a trustless way, peer to peer, and part of the reason that bitcoin is so powerful in that regard has to do with the bitcoin system having had been the first system to resolve the double spend problem through proof of work.. so there is a lot of value in the mechanism that bitcoin has established that previously had not been possible without going through third parties... with bitcoin, you can transmit value on the interwebs (virtually and intangibly) without third parties... there is no other system like it.. sure there are imitators.. but still bitcoin is the one that is really ongoingly building on this invention in which value can be attached to information, even if it might feel like it is "not real" to people like you who seem to not really understand what the fuck is bitcoin, which seems to be part of the reason that you get so caught upon trying to suggest that there is something less real about bitcoin because it is virtual rather than tangible.  Do you even know what you are talking about?


What?  You seem to be mixing up the point again, xzy887.

Bitcoin is not tangible, so it cannot burn (and that is part of the point of bitcoin.. it is captured on a network of computers).

Of course, there are a variety of that people can lose access to the bitcoin that they own because they lose access to the private keys.. and if the private keys are ONLY located inside of a house that burns up, then access to the bitcoin that had been associated with those private keys will be lost forever.

So surely one of the difficulties and advantages of bitcoin is being able to store the private keys in more than one location and to still potentially feel security that they are not lost and destroyed easily, even if they might be lost and destroyed in one place.  Sure, it can be a challenge to make sure that you have back ups to your private keys but have the back ups stored in such a way that they are not easily found by someone else or that they might end up being lost or destroyed or somehow not accessible when they are needed in the event that other copies of private keys had been lost or destroyed.

There are a lot of responsibilities in being your own bank, but also a lot of power.. while at the same time, the power might not be able to be exercised if there is loss to the private keys.


You can look at bitcoin's price history and you can see lots of similarities to bitcoin's current price pattern, so if people are ONLY realizing BTC's negative price volatility - to the extent that it is negative, then they must be living in la la land.

Some of your friends might live in la la land xzy887, yet that does not mean that everyone lives in the same place as those people who are just realizing that BTC's prices could go down quickly.. .

I think Bitcoin has nothing to do with nature in reality. Because Bitcoin is a virtual currency that does not exist in reality. Bitcoin transactions are done virtually online only.
And people will never want to invest in Bitcoin if the house catches fire and all the wealth is destroyed. Because then they will be afraid to burn (dump) Bitcoin too.
Bitcoin has not only advantages, but also some disadvantages (poor market condition for Bitcoin price to go from 68k to 20k quickly) which people are realizing now.

Beside what talked by OP about Bitcoin have been accepted payment in coffee shops to real estate possessors but still can't make bitcoin more popular for payment currency, I think your opinion true about bitcoin known as investment assets with higher profit return. Still need planning five until ten years later adopting bitcoin used currencies global looking on most influential countries like United State, United Kingdom and China not allowed bitcoin for legalizing.

I like bitcoin as investment way only not really give impact in my country with bitcoin still not legal currency payment transaction until right now, due high demand and supply worth way for investing and earn profit with bitcoin although still not legalize as digital payment currency.

Of course, you can use bitcoin as both a currency and as a means of investing - and another part of bitcoin's value is that it allows you to be able to do either or to do both.. and really hopefully most of us who know about bitcoin are doing both; however, there are a variety of disincentives to spend our bitcoin, including that it is most likely the soundest of monies in existence and the kind of asset that is likely to retain more of its value relative to other assets, so there remains a considerable amount of disincentives to spend the more valuable of our assets (which is bitcoin in this case).

The more bitcoin that any of us has, then the more flexibility (and options) that we have, but we may also consider that if we spend bitcoin during times in which we perceive the BTC price to be low, then we have to keep our allocations and balances of assets in mind and perhaps spend and replace our bitcoin - to the extent that we come across situations in which we might be able to find some utility in spending some of our bitcoin.

So I recognize that you (Kelvinid) are conceding that bitcoin can serve as both a currency and an investment, but you are not seeing it used very much as a currency, and there does not seem to be any problem with that.. because with the passage of time, these matters are going to continue to evolve.. including it is quite likely that if we might have some bitcoin that we keep in cold storage and then we have some bitcoin that we keep in more liquid forms, such as having some bitcoin available to us for spending (or even to receive from others) if we come across situations to transact in bitcoin... so perhaps we keep a bitcoin and a lighting network wallet on our phone (or some other easy way of doing it) for transactional purposes. .. and maybe we carry around $100 in each or some amount that is comfortable to us... for example, if I know that I am going to make a BIGGER transaction in bitcoin, then I would temporarily put more value on the mobile wallet until the transaction is completed. then remove most of the value back to my colder storage areas.  Practice is good, when the opportunities present themselves.

Bitcoin is very popular but not as a currency, it was indeed a known investment that most people participated in this time. In fact, it was compared to the stock market and any form of huge investments existed. MAYBE in the future could be one of the most used currencies globally but for now, it was just considered a profitable investment.

As a currency, as an investment - these are the reason why people love this.

That's right, you can use great value anywhere in the world quickly and easily. You don't have to use cash in multiple currencies and the fees are the same everywhere. You just need an internet connection and someone who accepts bitcoin as well. There is one negative and that is how many are using Bitcoin to scam, or advantage for themselves. We agree that we need more acceptance, then it will be easier for us.

Newbie will definitely fail with their initial plan, it will make them have their first experience in this investment. But of course the plan is needed even though they are still beginners because in fact it will support them to get good results.

I have advised several people to invest in bitcoin so far instead of just investing in gold or other investment assets. I call them newbie because they lack knowledge and experience, but because I encourage them to learn and find out how the potential of bitcoin is, then I think they start to have long term plans. Yes, it's kind of a long-term investment that they periodically make for a few percent of their salary every month. However, I never forget that basically they also have to know what the consequences of this investment risk are.

You are correct that if newbies are coming into bitcoin, but then subsequently suffering from a price fall, they might feel that they are being used as a way for the older bitcoiners to cash out, and even if there is some truth to the fact that longer term investors into bitcoin have more flexibilities to cash out, that does not necessarily mean that they are dumping on newbies or that newbies are disadvantaged in terms of "investing" into bitcoin.

Bitcoin remains amongst the best, if not the very best, asymmetric bet that is in front of us today, whether we are newbies, experienced investors, institutions or governments.

As with any investment, smaller players need to attempt to figure out their own financial situation prior to investing into anything, whether bitcoin or any other investment, because if they do not figure out their own particulars, then they become more likely to make mistakes and they are unable to understand or appreciate what would be a reasonable, prudent and perhaps even an adequately aggressive investment plan for them in regards to bitcoin and at the same time not cause them to become bitter in response to BTC volatility or BTC price movements that go agains the direction that they had been expecting the BTC price to go.  There are a variety of ways to attempt to deal with BTC volatility, and surely DCA is amongst the best of those tools that are available.. but also having an investment plan that goes out 4-10 years or more is going to be helpful towards the whole perspective about BTC as an investment as well.

When the newbie investor becomes frustrated and bitter by his/her approach to bitcoin, then likely they have not planned and strategized in sound ways, and likely they have contributed to their own issues in terms of how they choose to deal with bitcoin, and if they choose either not to invest or to completely stay away from bitcoin, they are likely ONLY hurting themselves... and for sure, everyone is free to make their own choices, including their choices to not sufficiently and/or prepare  for all of the various baloney happenings in the macro-economy, and bitcoin is quite likely going to continue to serve as a very great hedge to the various ongoing macro issues.. including non-soundness of a lot of the fiat system, including the dollar being the least shitty of the various shitty currencies out there and the various bad monetary discipline that seems to exist in regards to all of them.

That's the truth because regret always comes too late.
But this mistake should be able to change people's mindset if they really believe bitcoin still has a lot of potential. There's no point in regretting the past if in the future we don't have a good plan to benefit from it. Now things won't happen again because bitcoin won't drop below $10K "imo" again, that's probably true.

Exactly, it is recommended. I agree with this suggestion and it should provide some benefit in the future if bitcoin increases.

There is nothing to dislike about Bitcoin. Bitcoin is a very popular currency around the world Soon Bitcoin will launch its own transaction in every world With the way people are getting interested in Bitcoin, we can see the better position of Bitcoin in the last few years.And an investment currency good enough to invest in That's why everyone loves Bitcoin.

That statement will definitely be heard in old age, maybe our children will ask why not buy when it is low and why ignore the opportunity because indeed the next generation will continue to exist so that more and more successors will be familiar with bitcoin so I will not miss the opportunity at this low price.

Keep your investment because I believe in the future it will be even better maybe our child will be his successor, at least you do DCA or other types of ways to hoard Bitcoin with the value you can afford because the opportunity should not be missed at this time.
Let others complain, but we remain consistent on bitcoin investments at this price drop.

I mean it does not even matter on why would people like Bitcoin. You do you. Do whatever floats your boat.
If you're earning from it from trading then that's completely fine. There might some people bringing down other people because they like Bitcoin due to it being an investment.
This is why there are some newbies that aren't willing to learn anymore. They felt that they were being gatekept by the so-called veterans therefore losing motivation. It does not hurt to learn the other side of the niches, but it shouldn't be obliged.

When a natural disaster occurs, Bitcoin becomes a living asset. Likewise, when the house where you live is on fire, all assets are lost and Bitcoin becomes the only investment asset left behind. This is the reason why Bitcoin is my favorite asset.
Bitcoin provides convenience not complexity.

Bitcoin's journey is still very long because bitcoin is the future that always brings new generations that will never break and continue to grow, and we can judge the difference between then and now that bitcoin continues to be popular and also develops which I think will continue.
and I personally always remind those who are new, especially those closest to me and also those I know for real that the current situation reminds us when we wasted that time. I mean now is our chance to buy it or grow ownership and hold it for the long term so that we can experience and enjoy the enormous benefits in the future, and also be able to pay back the experience we wasted that time.

I really love how you can carry around paper wallets with Bitcoin. Couple of months ago I restored some money out of thin air (obviously it's not air, it was paper wallet I forgot at drawers) and sold it away for quick cash. Bitcoin's usability and accessibility are enormously good. I wish there were far more acceptance to it. For example its illegal to use Bitcoin supported Mastercard/Visa in my country. I mean you should go out of country to get one literally. They don't issue it your name because of laws. Its sad.

Even though there may well be different kinds of obstacles in terms of using bitcoin in different jurisdictions, I am not sure if it is safe to presume that it will be "illegal" to use bitcoin in any jurisdictions merely because some jurisdictions have a large variety of obstacles.

In other words, I believe it is not a good idea to discourage anyone from looking into bitcoin, even if their location (jurisdiction) might have a lot of regulatory obstacles. 

For sure, each person should attempt to get some ideas about what kinds of channels are available to transact in bitcoin and various ways to potentially get bitcoin. 

I am going to predict that sometimes countries are going to change their various regulations, and it is not very easy for countries to stop people from directly transacting with bitcoin, even if they say it is illegal.. including that there might be businesses that refuse to "officially" transact with bitcoin, but if they know you, they still might transact with you.

There also might still be people who buy /sell bitcoin, but still there may well be some need to search out options and figure out the various ways to get bitcoin or is it only possible to contact people through various internet ways.. and then there might be questions about whether communications are being monitored, too.

Similar kinds of issues could come up for any one of us if we travel, and then if we try to figure out whether we could "get in trouble" if we try to transact with bitcoin in a location in which we do not know the rules.  Local people should have more advantages about learning about what is available in their jurisdiction than the tourists, but sometimes tourists know things about transacting bitcoin in which the local people might not have realized would be available to them so long as they might meet someone (or even go to a bitcoin meetup) to learn about some matters related to bitcoin.

Yes, if we do not know Techkoy407's country, then we might not know what to say, and is there any local section on this forum related to your country?


I agree with this part, but in the mean time, there can be some locations that become very strict about bitcoin before they become easier about bitcoin, and frequently governments talk out of both sides of their mouth to make matters confusing (and maybe even on purpose).


Probably some countries are realizing that they cannot really stop it, even if they try.. but sometimes they will get new hopes about trying to stop bitcoin, so I doubt that bitcoin is going to sail to any location in which everything related to transacting bitcoin gets easier and easier with the passage of time.  I really doubt that we can generalize in regards to all locations and make those kinds of predictions that governments are going to get more rather than less permissive in regards to bitcoin.

By the way, some times they will do dumb and even exploitative things like promoting their own coin, and that happened in several locations already, and it is likely not going to stop because some governments want to create central bank currency coins, and they will likely want to promote that crap instead of allowing bitcoin.. so it seems likely that the battles in regards to whether bitcoin is permissible and usable in any jurisdiction are not going to be over any time soon..