What are your reasons for adopting cryptocurrency? - page 10.

Nerdy doctor

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Quote from: Bitcoinpoly on July 31, 2023, 08:20:43 PM

Lately majority of people find theirselves within the crypto space, but many of them do not really understand the actual reasons for adopting crypto currency other than to make profit, what are your own reasons for adopting cryptocurrency?

Well, one has to admit it's becoming progressively clear that cryptocurrency is no more the new kid on the block and is here for a long term. Cryptocurrency is a lasting trend that'll proceed to supply advantages for individuals and businesses into the future.

A major reason for my adoption of cryptocurrency would be the aspect that it isn't managed by a national government unlike the fiat currencies and the low risk of mishandling cryptocurrency as there's no paper version. There's also transparency in transactions, bringing forth accountability. You're in control of your assets.

heslylamba

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I like to be free and financially independent. Bitcoin and other crypto gives me this freedom.

kizlod

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Activity: 139

Merit: 5

My reason is to keep my money safe and take profits. My holdings are safer in Bitcoin than in any bank or stocks. And not just because of inflation or anything like that.

Poker Player

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Quote from: Bitcoinpoly on July 31, 2023, 08:20:43 PM

Lately majority of people find theirselves within the crypto space, but many of them do not really understand the actual reasons for adopting crypto currency other than to make profit, what are your own reasons for adopting cryptocurrency?

Actually, make a profit is the most important one, because if Bitcoin were constantly making losses, and eventually went to 0, all its essential attributes, such as decentralization or limiting supply, would become useless.

But profit aside, I only hold Bitcoin because it is a way of storing and transferring value that does not depend on a state or banking institutions. Which at any given moment I could take with me wherever I go if I had to flee. This, and its limited nature make it a premium financial asset, if not the best, and has a lot to do with the price increase it has had since its inception.

Outhue

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Activity: 686

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Bitcoin have done more wonders in my life than anything else, I had nothing but I believe in Bitcoin in 2016 and I followed my mind, thanks to my supportive parents too, who never doubted my believe.

1. In the past years bitcoin have been the only thing that rescue me from poverty and since it always add value as time goes on there's no reason for me to get out of Bitcoin and till date I am still accumulating Bitcoin for long-term hold and I will keep doing so for a very long. Of time maybe till I get retired or even pass it down to my children if possible,. Few years from now I believe that many people were talking about bitcoin only has the accumulation or adoption rate of Bitcoin still very low right now.

2. I am from a country where even the law enforcement are the ones in power, they like harassing youths and when they find out that you are worth more than you look they find a way to drain you out so crypto or let me say bitcoin has been a safe Haven for me to keep my money out of the bank and out of any centralised entities and there is no way anyone can know my worth unless I talk about it, I worth more than I look and that's because of Bitcoin.

ImThour

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Bitcoin Bottom was at $15.4k

I am in Crypto only for money. Not earning, mostly learning about money. Crypto or Bitcoin literally taught me how the market(s) work, what is demand and supply, Blockchain technology, investment risks, Dollar Cost Averaging, profitability, and much more. I am all about money and it has enabled me to take smart risks at various prospects of life.

I just love everything revolving around Crypto and it's a brain booster for me. I love new applications that are taking advantage of Blockchain technology, etc.

isaac_clarke22

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Quote from: Bitcoinpoly on July 31, 2023, 08:20:43 PM

Lately majority of people find theirselves within the crypto space, but many of them do not really understand the actual reasons for adopting crypto currency other than to make profit, what are your own reasons for adopting cryptocurrency?

Half of me would say that I would like to adopt crypto specifically Bitcoin because it allows me to earn some profits for quite a while, while the other part of me says that I'd like some crypto in my life as I do not want any authorities knowing how much I hold and how's my buying power when my Bitcoin is converted into cash.

It's just each and their own, OP. There are others here surely that are just for profits. Not everyone is fan of in-depth technological stuff, and it shouldn't be anyway.

bayu7adi

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dont be greedy

I regard cryptocurrencies as a futuristic investment and savings instrument. While it is true that Bitcoin was not originally conceived solely as a medium of exchange akin to traditional fiat currencies, in my country, using cryptocurrencies for day-to-day transactions like fiat is strictly prohibited. Consequently, I am unable to utilize them for purchasing goods or food as doing so would violate the law.

Though I could resort to clandestine means, there still exist traditional, yet effective, ways to procure essential goods and basic necessities. Therefore, my adoption of cryptocurrencies is primarily driven by the hope of reaping future benefits from the purchases I make using them.

michellee

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I adopted cryptocurrency for profit trading. And it's been proven over the past few years to get that advantage. I prefer investing and trading and it's going very well so far.

It shouldn't be too complicated because I need money to make ends meet and I will always be looking for ways to provide money for me. And I discovered it from investing and trading, so that got me into crypto.

And that reason is also used by people, including institutions starting to join crypto. They also want to earn from crypto so they decide to invest in crypto. Even though they don't use trading, they can get a decent profit by investing in crypto.

sesterceshop

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My adoption of crypto, mainly Bitcoin, is driven by several factors:

Decentralization: Bitcoin operates without a central authority, giving users more control over their funds.
Scarcity: With a capped supply of 21 million coins, Bitcoin preserves its value over time.
Financial Inclusion: Bitcoin offers access to the global economy for the unbanked and underbanked.
Hedge Against Uncertainty: Bitcoin can act as a safe haven during economic and political turmoil.
Transparency: The public nature of the Bitcoin blockchain ensures accountability.
Philosophical Belief: Bitcoin embodies principles of freedom, empowerment, and privacy.

They go beyond mere profit and reflect my belief in Bitcoin's potential to revolutionize finance and empower individuals globally.

wxa7115

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Bitcoin is GOD

Quote from: Bitcoinpoly on July 31, 2023, 08:20:43 PM

Lately majority of people find theirselves within the crypto space, but many of them do not really understand the actual reasons for adopting crypto currency other than to make profit, what are your own reasons for adopting cryptocurrency?

Over the years my reasons have changed, early on I was just impressed with the technology and being a newbie back then I did not knew much about the extreme movements this market can experience from time to time.

However as time has passed, even if I am still impressed by the technology behind bitcoin, my main reason to hold bitcoin became self-preservation, even if the fiat system could last way past my life expectancy at the same time it is already showing worrying signs, and I do not want to waste all my efforts by keeping my savings in a currency that losses value every day, and as such bitcoin is one of the assets I decided to hold in order to preserve the value of the money I have saved over the years.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: Bitcoinpoly on July 31, 2023, 08:20:43 PM

Lately majority of people find theirselves within the crypto space, but many of them do not really understand the actual reasons for adopting crypto currency other than to make profit, what are your own reasons for adopting cryptocurrency?

A system that gives you an alternative to traditional fiat and has a chance to be big in terms of speculative trading, caught my attention. It's main reason why I feel it's useful is it's borderlessness, censorship resistance and decentralisation. These factors make it more attractive to clear the cons of a fiat currency. There are many other altcoins out there but there ar no real alternative to bitcoin itself. It is one of a kind and hence I adopted it.

Although chances of using Bitcoin in any specific sector is less. We can assume it to take over the economy in future and thus accumulate it for now from providing services and work.

UchihaSarada

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Quote from: Sim_card on July 31, 2023, 10:23:27 PM

Pls not all cryptocurrency has the potential for one to adopt so you need to be specific and use the word bitcoin.

Bitcoin is a biggest cryptocurrency but it is not the only cryptocurrency so I see it is fine to discuss about cryptocurrency adoption generally. Bitcoin needs altcoins too even many altcoins are scam. The cryptocurrency market should not have only Bitcoin and altcoins are necessary for the market.

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My reasons for adoption of bitcoin is that.

1. It gives financial freedom and can be used across boarders without a third party.

People will have control of their bitcoin if they use non custodial wallets. If they use custodial wallets from like exchanges, gambling sites, they will not control their bitcoin.

No control, no chance to have financial freedom because they can lose their bitcoin, capital anytime.

Reminder: do not keep your money in online accounts

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2. I also use it as an investment and a store of value. As an investment, you will see it that bitcoin is the most valuable investment that one can make a good profit from, if you can hodli you bitcoin for a long term. For store of value,because fiat is depreciating in value daily due to inflation but bitcoin is inflation resistance.

Consider Bitcoin as an investment asset and as a store of value is the same. You should not invest in Bitcoin if you see it is not a store of value. Bitcoin itself is inflationary because new bitcoins will appear with each new Bitcoin block.

There are already 19,444,675 BTC mined by miners and already exist in Bitcoin circulating supply.

The curve starts to be flattened out and not many bitcoin will be mined from new blocks in future.

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3. Bitcoin is the future gold because soon people that have bitcoin will be the richest or most wealthy people in the world as long as they only keep on accumulating their bitcoin.

Not all people who have bitcoin can become rich, millionaires or billionaires. It depends on how many bitcoins they have.

Sim_card

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Pls not all cryptocurrency has the potential for one to adopt so you need to be specific and use the word bitcoin. My reasons for adoption of bitcoin is that.
1. It gives financial freedom and can be used across boarders without a third party.
2. I also use it as an investment and a store of value. As an investment, you will see it that bitcoin is the most valuable investment that one can make a good profit from, if you can hodli you bitcoin for a long term. For store of value,because fiat is depreciating in value daily due to inflation but bitcoin is inflation resistance.
3. Bitcoin is the future gold because soon people that have bitcoin will be the richest or most wealthy people in the world as long as they only keep on accumulating their bitcoin.

Stella Mese

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the reason I adopted cryptocurrencies was because I was looking for extra money, so that my economy could progress, but of course, of course, everyone has almost the same goal as me, which is to make profits and in my opinion, that's my only reason and I can't say anything else.

xSkylarx

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Most people, even you, know that their sole purpose in investing in cryptocurrency is to earn profit. There are only a few people that use it to transact or make payments online, but the majority of people invest in it so that they can get profit. It is such an effective investment that the possibility of gaining a huge profit is huge in the next few years. Even for myself, this is my purpose, and the secondary is trying to pay using it online, but mostly before I join your cryptocurrency space, this is really my purpose.

Afnan_faizah

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the reason why I adopting cryptocurrency is to avoid inflation. I feel that it is not fair when my money value decrease only because government print more money as they want. I was working and save money to keep me life. and once they print more money, my hardwork becomes less worthy. for me it is better to save some of my money in form of bitcoin although it volatile but I am experienced enough to make a good strategy to invest in btc.

peter0425

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Quote from: Bitcoinpoly on July 31, 2023, 08:20:43 PM

Lately majority of people find theirselves within the crypto space, but many of them do not really understand the actual reasons for adopting crypto currency other than to make profit, what are your own reasons for adopting cryptocurrency?

You are asking people here what are their main reason but telling them less understanding? what will you do if that is their reason? or sole reason for that sense? yeah there are many ways to deal in crypto but it is what they wanted?
that is their money and that is their decision.
if you wanted to extend yours such as HODLING or TRADING or Using as payment option then that is yours., but don't questions our reason like me , that i actually been using crypto for paying but depending in the season and depend in my capacity .
so yeah we can have each ways of dealing cryptocurrencies .

nelson4lov

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Quote from: Bitcoinpoly on July 31, 2023, 08:20:43 PM

Lately majority of people find theirselves within the crypto space, but many of them do not really understand the actual reasons for adopting crypto currency other than to make profit, what are your own reasons for adopting cryptocurrency?

I'm someone who has never been a fan of controlled environment especially if it I'm not the one controlling my situation. For instance, If I have some money in the bank and they lock me out of the account or something shitty happens, I'd be in a situation where I can't control what happens next. Other reasons why I love Bitcoin / Blockchain / Crypto:

The thrill: As someone who loves innovation and technology, its thrilling to know how distrubuted systems like the blockchain work automously and still reach consensus. Amazing stuff.
Permissionless Identify and activities.
Money as motivator - there's ton of opportunities in the space and it's permissionless to participate.

Of course, there are other reasons but I'd like to keep the list short here.

Bitcoinpoly

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Lately majority of people find theirselves within the crypto space, but many of them do not really understand the actual reasons for adopting crypto currency other than to make profit, what are your own reasons for adopting cryptocurrency?

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