What are your reasons for adopting cryptocurrency? - page 7.

Oilacris

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Quote from: Questat on August 03, 2023, 02:50:36 PM

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, we only have two reasons why people had embrace crypto in their lives,
1. As an investment
2. Payment Option

But to be honest, the main reason why they are risking their money and giving some effort is to consider crypto as a profitable investment, especially Bitcoin. Besides, crypto has become known to that (as an investment), not a currency which was the main purpose of creating this technology.

Investment!

This had been the most common reason for most people or everyone on why they had been dealing up or getting engage with Bitcoin or crypto investment. We cant really be able to ignore about the chances and opportunities that it gives in a short time period on which it would really be just that normal that we would really be having this kind of opportunity on which we dont really like to miss out.
Just like rest been talking on here on which we cant really deny that we are here come after on making money.Utility would really be just in second on in our mind but in overall, no matter what approach you do have towards it, it wont really matter as long you do have made out such decision the no one would be able to force you out on what you have done.

Adoption is on the move and as the years passing by on which recognition and awareness does really increase out on certain extent or manner or level.

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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, we only have two reasons why people had embrace crypto in their lives,
1. As an investment
2. Payment Option

But to be honest, the main reason why they are risking their money and giving some effort is to consider crypto as a profitable investment, especially Bitcoin. Besides, crypto has become known to that (as an investment), not a currency which was the main purpose of creating this technology.

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Quote from: The Cryptovator on August 02, 2023, 04:28:08 PM

I am fond of embracing Bitcoin and cryptocurrencies due to their ability to transfer money worldwide without involving third parties. The blessings of cryptocurrencies enable us to work from home and accept global payments effortlessly. Moreover, they provide financial freedom by keeping our financial movements beyond government monitoring.

Aside making profits from Bitcoin investment, inside the comfort of your home, the financial freedom that it gives the holder, as you have mentioned, is another main reason why I love it. The decentralized coin can be used to make transactions anywhere in the world without worrying about the barriers of Fiat currencies. Also because you're totally in charge of your bitcoin, when its stored in a non custodial wallet, you'll have no worries of external or third party interference, you can easily do a bitcoin P2P transaction directly with business partner.

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Quote from: MFahad on August 02, 2023, 12:45:55 PM

I think inflation is on peak due to which everyone wants to stable their financial system and everyone use cryptocurrency as a technology of earning rather than utilizing it for other purposes.

There are not enough jobs and in a single salary one cannot conduct the process of home therefore majority of people are adopting cryptocurrency for the purpose of investment to increase the value of their money which will help them in near future.

I think that's a good reason friends, so basically the purpose of investing in bitcoin and crypto is to make a profit, with the aim that inflation can be overcome a little by investing in crypto. and I also invest in crypto with the aim of making more and more money for my
and finally inflation is overcome.

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Quote from: Zoomic on August 02, 2023, 06:30:57 PM

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?

To make profit is a reason enough to embrace cryptocurrency. I can also assume that more than 70% of the people who adopted cryptocurrency did so because of profit making. Personally, apart from profit making, another reason why I adopted cryptocurrency is not to miss out on a golden opportunity. Many of us do not actually know the future of bitcoin and cryptocurrency but we are here because we know that the technology is pregnant and it can deliver something spectacular. I am among those.

I even believe that up to 90-99% of people accept cryptocurrencies for profit, because no one hates a lot of money. Those who say they invest in bitcoin or cryptocurrency for its superior features and not for profit are blatantly lying. In today's pragmatic society, money is said to be the most precious and important thing so it would be strange for someone to say they don't need it.

But of course, in addition to making a profit, we will also take advantage of the other features that bitcoin has to offer. For me, the use to store assets is what I like about bitcoin. I still use the bank, but depositing so much money in the bank is something I can't trust.

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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?

The development of the times has seen many things and there are many investment systems that were previously owned that could not maintain the value of the investments that we were in. Gold as a store of value is also unable to provide quick profits under certain conditions because its price tends to be stable and not fluctuating like bitcoin. The presence of crypto, especially bitcoin, has provided a choice for anyone to make a profit and anyone can take an approach according to the capital they have.

Bitcoin is also resistant to recession and bitcoin is able to maintain value, that's why many people choose to invest their money in bitcoin and finally to get a profit that is in accordance with the risk at stake. The more money used so the greater the profit that will be obtained although there is a risk in it.

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Quote from: justdimin on August 02, 2023, 11:36:09 AM

Quote from: Queentoshi on August 01, 2023, 05:38:59 AM

The major reason that brought me to cryptocurrency is to make money. It is after I have started to understand what cryptocurrency are that I saw other good things that cryptocurrency can be used for.

The categories of people attracted to cryptocurrency and their reasons sometimes

People in search of money, that were introduced to cryptocurrency as a means to get rich. They had the idea of cryptocurrency as something to get rich from, but now they know better since adopting cryptocurrency.

People that are rich already, just need to invest.

People that are looking for ways to hide some of their money from people, say their partners or the government.

People that were looking for better ways to send money to people in other country.

I may not be listed there I believe, not entirely sure, maybe you can squeeze me in there somewhere. Mine is the fact that fiat is a terrible thing to use, so I try to use bitcoin as much as I can in my life. If I could pay everything with bitcoin then I would not use fiat at all.

I hate the fact that my government makes my fiat worth less and less, and even though it could also be considered a situation for investment purposes, it is also regular using, like I take my salary in bitcoin for example and just did. This is why I prefer bitcoin over fiat, not just for investment (that included too) but for everything and that's what matters to me. That could be put in there somewhere but it's not exactly what it is for.

Would you be willing to use bitcoin to pay all the bills if it were accepted by the government? Is that true? Due to its instability, I don't think many people will want to use it for payments. If you buy bitcoin for $40k and when you use it to pay, it's only worth $30k, would you still use bitcoin in that case? I really doubt it because even rich people don't do it, let alone us. Those who will still earn every penny every day just to meet the needs of life. It's hard to believe someone invests in bitcoin not for profit but just because they hate fiat.

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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?

To make profit is a reason enough to embrace cryptocurrency. I can also assume that more than 70% of the people who adopted cryptocurrency did so because of profit making. Personally, apart from profit making, another reason why I adopted cryptocurrency is not to miss out on a golden opportunity. Many of us do not actually know the future of bitcoin and cryptocurrency but we are here because we know that the technology is pregnant and it can deliver something spectacular. I am among those.

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Quote from: ChiBitCTy on August 02, 2023, 05:07:57 PM

If I had a penny for every time I've heard someone say "bitcoin" and "profits" around here I'd be a billionaire. I get so annoyed with people who just care about making money in this space. I mean I get it, but when you're conversing with others on a regular basis on a forum like this, there's more to bitcoin than making money.

I "adopted" bitcoin because I work in finance and understand how corrupt banks are, as well as our money system. The decentralized currency could change much of this, and I became enamored with it's possibilities.

i think for most long-timers here, earning profits was not the first thing that we thought about on this market. because at that time, the value of btc was still very low and the popularity was not that much. so we got into this for other reasons and not because of thinking about the profits.

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Quote from: JoyMarsha on August 02, 2023, 05:33:37 PM

I choose to use cryptocurrency because of the potential future returns it offers for long-term investors. Second, it may be used as another means of payment method from anywhere in the world with a simple click, and the money is delivered to the recipient's wallet. Thirdly, because it is a digital asset, you may take it with you wherever you go secretly. Last but not least, you can anonymously conduct transactions and use your seed phrase to locate lost valuables assets without stress.

Long-term return potential as an investment that will be profitable.
This investment is different from others, the price volatility is high so the price changes faster.

But if it is used as a means of payment in the future, it is still not applicable.
Each country has different regulations. For example in my country payments using Bitcoin are not allowed.
Bitcoin or crypto is only allowed as a commodity asset, nothing more than that.

About anonymous transactions, it will remain anonymous as long as you do not involve your personal account.
Remember that Crypto transactions can be tracked very easily and transparently.
But it can also be disguised by using a Mixer Service like Coinomize.

Losing crypto assets will be your own responsibility, so make sure everything is safe and the seed phrase is secure and only you can access it.

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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 choose to use cryptocurrency because of the potential future returns it offers for long-term investors. Second, it may be used as another means of payment method from anywhere in the world with a simple click, and the money is delivered to the recipient's wallet. Thirdly, because it is a digital asset, you may take it with you wherever you go secretly. Last but not least, you can anonymously conduct transactions and use your seed phrase to locate lost valuables assets without stress.

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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 was persuaded to join Bitcoin or cryptocurrency because of it decentralized nature in which if I invest/save in it, I will be the only person to control the funds/coins, and the more I keep the coins the more it appreciates so that motivated me to adopt bitcoin as my investment coins because when I look at the whole scenario, Fiat Banks don't top anything to you savings even you keep your money with them for about 6 years. So when I got the information about bitcoin on the investment part, I was happy to join and invest.

ChiBitCTy

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If I had a penny for every time I've heard someone say "bitcoin" and "profits" around here I'd be a billionaire. I get so annoyed with people who just care about making money in this space. I mean I get it, but when you're conversing with others on a regular basis on a forum like this, there's more to bitcoin than making money.

I "adopted" bitcoin because I work in finance and understand how corrupt banks are, as well as our money system. The decentralized currency could change much of this, and I became enamored with it's possibilities.

The Cryptovator

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I am fond of embracing Bitcoin and cryptocurrencies due to their ability to transfer money worldwide without involving third parties. The blessings of cryptocurrencies enable us to work from home and accept global payments effortlessly. Moreover, they provide financial freedom by keeping our financial movements beyond government monitoring.

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At the beginning my reasons are profit driven. It was later on as I dive fully into its space, then I began to realised that there is much to bitcoins than buy low and sell high. With the exposur to the world of cryptocurrency I must say it again that profit is still a reason

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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, you have answered yourself.
I don't want to be naive but I am in crypto especially in bitcoin is for profit.
As for when bitcoin is used as legal tender, it is just a complement for me considering that in this case my main goal is only to invest and make a profit and support my future needs.
Of course this has risks and there are conditions where we have to learn more so as not to find ourselves in the wrong position in making decisions but when we learn more about bitcoin then I think it will be fine because the decisions we make are the result of the learning we do so as long as we are on the right track then the benefits will be there.

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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?

The reason that I entered the crypto space is with the goal of profiting from the price movements of Bitcoin and other cryptocurrencies. The fact is, cryptocurrencies have created new investment opportunities and the potential for returns is much higher than stocks or other types of investment. If you understand and know how to take advantage of it, it will of course be a good job that brings a lot of economic profit to you and your family. In addition, cryptocurrencies also bring a large amount of financial knowledge, which is also very useful in many aspects of life.

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This topic is similar with the topic ": Does cryptocurrency actually solve any problems?"
I think the problem cryptocurrency solve is the reasons people use cryptocurrency. Some people's reason may be privacy and security. Others may be because they're sick and tired of the centralized system of the banks and government.
For me, it's the fact that inflation doesn't eat deep into my savings and my savings can also be an investment.
There is also the fact that I can send money internationally without any stress from any third party.

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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?

Getting a profit from an investment in cryptocurrency is already given, aside from that I found using cryptocurrency as a mode of payment and sending funds much easier than using banks. Since it needs a highly capable individual and knowledgeable on programming to hack one wallet, I feel safer with cryptocurrency since there are fewer individual that can target us unlike when using the traditional banking. In short I feel more secured when using cryptocurrency. This is the major reason that I adopt cryptocurrency.

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I think inflation is on peak due to which everyone wants to stable their financial system and everyone use cryptocurrency as a technology of earning rather than utilizing it for other purposes.

There are not enough jobs and in a single salary one cannot conduct the process of home therefore majority of people are adopting cryptocurrency for the purpose of investment to increase the value of their money which will help them in near future.

Topic: What are your reasons for adopting cryptocurrency? - page 7. (Read 1165 times)