Topic: What does BTC mean to you? (Read 2286 times)

Anyone who ONLY considers bitcoin in terms of something that you buy or you sell, either does not understand bitcoin, or they are trying to frame bitcoin in terms of trading and/or dollar values.

Holding bitcoin is a way to use it.. .since holding bitcoin allows for the transition of bitcoin through time - and speaking of transitions, bitcoin can be moved around in a variety of ways that may well not be considered to be buying or selling - including when we might move some of them from ourselves and to our selves.. and sure those self to self transaction may not have significant meaning,

....which causes me also to consider that changing the ways that bitcoin are held could also allow bitcoin to be used as collateral or to change the way in which it is owned (shared custody) - which also might not exactly be considered as a transaction that transfers the value.. even though it might transition the value from one kind of status to another kind of status, which is an additionally interesting angle to apply programable money... and the various kinds of autonomy that come from holding it yourself versus having someone else hold it for you versus some other ways to share the holding power... I am not going to even claim to know all of the options and powers of bitcoin, but they do not seem to boil down to merely buying or selling of it.

This seems extreme flattering. I mean we can understand that Bitcoins have really left a great impact on life. But seriously talking about it all day long? That went little high. Nevertheless as said before, Bitcoins have really helped me to manage my finances independently. I don’t follow the bank policies now and hold my money in an independent manner and tax free manner. Bitcoins have also gave me lots of profit as it’s price is rising each and every time. In a nutshell, bitcoins have really helped my life in many ways.

We all see differently and we use it in one purpose. There are two ways we use bitcoin right now. Either we buy it or we sell it. And as for me, bitcoin means a lot to me. It is an opportunity to me and also freedom from poverty. Bitcoin came to the world to liberate many people from the poverty line. Therefore it becomes a freedom fighter to many houses. But the issue now is that one of the core reason dod creating bitcoin is not yet utilize which is the buying and selling of goods and services online which is also the peer to peer using of the online currency.

And bitcoin also make us free from the third party Banking system. Bitcoin is poverty elevator and that is how bitcoin is for me. And I don't know yours because everyone has their own way.

We must be thankful to the person who created Bitcoin cause he/she/they gave us a good coins that we can make a profit if we hold for a long time. In real life Bitcoin have very high impact to the individual who knows Bitcoin for a long time. Cause we imagine that in a past 10 years how much the price of BTC and now it's almost hit $70k which is pretty good enough.
Anyways Bitcoin is everything, Bitcoin can make a good promise thats someday if we invest it we can claim a lot of profits.

It's black money. You don't pay tax on money. It means it's somehow broke by regulation.

Yes. You pay tax on goods and services. Not money!

I also like bitcoin and trust it the most in the market but the funny thing is that altcoins bring me more profits. So saying that bitcoin is everything is actually an exaggeration.

You are right, many people have just come into contact with bitcoin in the past few years but they say that bitcoin is all their life, without bitcoin their life would be over...They exaggerate so much that it becomes ridiculous because years ago when they didn't know about bitcoin, didn't they exist in this world?

I cannot deny that Bitcoin and cryptocurrency have really helped me improve my economy and change my life for the better. But bitcoin is not all of our lives or a god, and without it we would die. We should be realistic and not over-exaggerate.

I think that is an overstatement mate , Bitcoin or Nothing? or you mean in cryptocurrency at least? but even if there are lots of crypto that can serve you though not completely as how bitcoin do yet they are better option.

Life will never end without bitcoin as it will continue to flow,, but we must be all lucky having bitcoin in our life now and I will be always thankful about that.

For me, Bitcoin is a digital currency, it can be a very valuable asset to keep in the long term. If you are wise in holding Bitcoin, you will be rich in the future.
there are also some people who consider bitcoin as a medium of exchange because bitcoin can be carried out transactions easily, there are also people who hold bitcoin because bitcoin can be stored in a wallet safely, they are hesitant to store fiat in the bank so they decide to store their assets in the form of bitcoin.

With all due respect, it seems that you are simply contradicting yourself. First you stated that "investment' has "profit" as top priority before talking about privacy and freedom.

Second part of your statement above suggested you see people talk more of the privacy and the freedom and not the profits which you already agreed was the top priority. Is discussing price of Bitcoin not by extension, discussing the profits of investors? Fine, lets see the third part as captured below.

After admitting that people talk about privacy and freedom and not profits, why saying that people rarely talk about decentralization and "privacy"? Is this not speaking from both sides of your mouth. I have tried to make sense of your comment but the more I try, the more I realize you just typed them without bothering about the coherency of your statement, a good example of "work done equals zero" in thermodynamics.

As an offshore dedicated servers provider, we really like bitcoin, as it give a good choice of payment to our clients, who are already having BTC and also want to keep their privacy, so as a service provider, we really like bitcoin, as many of our clients happily pay via it, so its also important for us too.

You are just repeating what you already said.. .which is largely bullshit, and it seems to be coming from the narrow mindset of a trader who does not understand how the concept of investing might well be different from trading, and also how the whole world does not need to be framed in trading terms in order to make sense.

You are not describing any necessary natural progression, even if there might be various truths in regards to people thinking in terms of their own interests, and so in that regard, they may well be thinking in terms of Maslow's hierarchy of needs, if you are wanting to try to put things in some kind of psychological motivation order that is not necessarily revolving around your seemingly narrow view of the world in which you are considering that economic incentives rule the world.. and I am not denying the importance of economic incentives, even though I will proclaim you are out of your depth when you keep trying to repeat that everything has to do with profits.


Yes.. from your point of view.. you do not seem to understand higher orders of thinking.

Some people have already met their basic needs of food, shelter, and safety and they might not be so urgently concerned about those kinds of things, even if you believe that you have everyone (and their motives) figured out... even though direct profits might motivate you, you are hardly in a place to proclaim that everyone else needs to prioritize their aims in life in the same way that you seem to believe that you need to do.


Maybe because people think in terms of a variety of motivations, and profits is just one of them, and maybe profits does not apply in all situations for all people? and not that it should, either.  I already mentioned the hedging behaviors in my earlier post, too.


Yes.. we love to talk about price in this forum.. you are correct about that..

Once it is called investment, profit is the top priority, and when people have profit and money, they start to think of privacy and freedom.

Yes, people come to bitcoin for both but what I want to say is that I just see people always talking about the privacy, the freedom that bitcoin brings. Meanwhile, profit is the first thing they need and care about, but no one mentioned it at all, I find it very strange. The most obvious example is that out of 10 topics on the forum, there are 9 topics discussing bitcoin price and its fluctuations. I rarely see people as actively talking about the benefits of bitcoin such as decentralization, privacy as we often discuss its price.

People come for both, and they may or may not be as maniacally focused on profits as you are making them out to be.

Sure if you are in profits, then you are more comfortable..

But some people already have profits and comfort in their lives prior to coming to bitcoin, so they may well use bitcoin as a hedge and/or as a way to buttress their already comfortable situation.

None of us has to be maniacally focused on bitcoin profits or even presume that everyone is a greedy bastard in order to want to have bitcoin, even though surely bitcoin does provide incentives for those involved in bitcoin (even including miners) to pursue their own self-interest and their pursuit of their self-interest buttresses the strength of the BTC network.

In other words, there are already built-in incentives in bitcoin to pursue good, just and correct things and end up getting rich at the same time, even if some people might not be obsessed with such getting rich process.. and by the way, in regards, to the getting rich part of bitcoin, it mostly likely comes way easier for any of us who do not become overly greedy, since if you get overly greedy, you may well end up getting punished through BTC's volatility - and perhaps even reckt because you were being way more greedy than you should have had been - which truly also might have been part of the explanation for several of the fallen bitcoin businesses (and several of their customers) in the 2022 cascading of damages that played out through much of the second half of the year.

But there is one problem that you forgot, you cannot use bitcoin to pay daily bills, you still need to convert your bitcoin into fiat currency to be able to use it for daily use. So, bitcoin can give us freedom and privacy but it is not completely free or 100% anonymous.

One more thing, I think many people come to bitcoin not because of the freedom and privacy that bitcoin brings. Profit is what we are looking for in bitcoin and that is the main goal more than anything else.

For me, I agree that Bitcoin is freedom because when I have Bitcoin in my wallet, I can send it to anybody that wants to receive it for payment, the government restrictions can not stop Bitcoin from leaving my wallet to another users wallet. Government will restrict users from using Bitcoin and they can destroy every means by which users can freely spend their Bitcoin but yet they can not permanently stop Bitcoin to move from one wallet to another. The government can freez a bank account and stop money from leaving or entering the account but they can not do the same to Bitcoin and that is why I say Bitcoin is freedom.

I share this sentiment with you. I also think that bitcoin can give me the financial
freedom that otherwise would have taken me so long to achieve with rather
the traditional means of earning money. Bitcoin is the key to our future and I feel
very grateful to have known and invested in bitcoin already

We have priorities in the system and it's our job to carefully select promising projects. Enjoying the benefits of crypto without been on the lists really hurts. The terms and conditions that's been portrayed should be observed before anticipating in any crypto related activities. Apply caution whenever you found yourself in the space, no stopping but doing the needful steps to win. Bitcoin have saved life's from the gigantic profits and have also send most people to trenches due to their heavy losses. Bitcoin is the future of cryptocurrency, it have been the face in all these past years.

Bitcoin is a currency that will benefit the next generation because then people will have more understanding of it and will accept it. By then it will be very clear for people to see the quality it has and they will prefer to use as currency in exchange of goods services more than the fiat currency. Bitcoin will be of good benefit for the next generation by giving them good freedom of having better access of their money without any terms and conditions.

BTC for me is

1) An investment option. Earlier my investment was limited to mutual funds and Fds but now I have included bitcoin and crypto in it as well. So far, it has given me better returns than mutual funds.

2) Payment option: It also acts as a payment option for me. I accept bitcoin from number of clients for the services I provide. There are some clients who prefer to pay me in bitcoin only. I also pay for some services like hosting with the help of bitcoin.

What you said was Satoshi's vision and purpose when creating bitcoin. But do we really come to bitcoin for freedom or for the huge profits that bitcoin can bring us?

Honestly, my main goal when getting into bitcoin is profit, and when I make big profits, the second thing I think about is privacy. Because I don't want anyone and especially the government to know about my assets, I don't trust them because they can confiscate anything from us if they become greedy. I think there are many people who have the same goal as me but most don't dare to admit it.