What Inspired Me To Invest In Bitcoin.

justdimin

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Quote from: DanWalker on October 06, 2023, 10:02:15 AM

As I know, most CEXs require KYC before we can use them. Only a few do not require KYC but some features will be limited and withdrawal amounts will also be limited. I am not saying that DEX is superior to CEX, DEX does not have full functionality and has many shortcomings such as fees or liquidity that you mentioned. That is why to date investors and day traders still choose CEX over DEX despite collapses like Mt.Gox or FTX. But if someone is just a pure bitcoin holder and cares about privacy then DEX is the perfect choice for them.

I think the ones that do not require KYC is even worse trouble. I have talked about this before, all governments require you to ask for KYC if you run an exchange, if an exchange doesn't ask it then they are not responding to government demands and that's even worse. People like to label places like that as "rebel" and promote them but the reality is that government is not "always" bad, sometimes it works for you and should be something that benefits you one way or another.

I believe that we are going to end up with something that should be giving you the time you deserve but that doesn't mean that you are going to end up with a greater return if you know what you are doing. The best thing to do in this case would be making sure that you are not going to end up with a bad result.

|MINER|

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Yes you are right. Bitcoin is very trustworthy. It is very safe for investment. If someone wants to invest for long term then it is best for him. Not only just long term how can do technical analysis they can also trade in short term. Bitcoin's network transaction is very smooth which you are we can never saw on others blockchain coins. It doesn't require much knowledge to make transactions or investments but only if you know some fundamentals so can do its transaction from anywhere in the world. Bitcoin is a resource from which money keeps increasing day by day.

Btc_1856

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Quote from: Vaskiy on October 05, 2023, 06:24:17 PM

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Quote from: DanWalker on October 05, 2023, 06:32:39 AM

But if you value privacy, you should use DEX from the beginning, don't try CEX without KYC, sometimes there will be unpredictable problems, IMO.

I have been using CEXs without KYC for 7 years and have not experienced any problems. DEXs are not the best solution for everyone because they are very expensive in fees, do not support the right assets and networks, and have poor liquidity. I will switch to DEXs when one token to another is as cheap and hassle-free as on CEX, but until this happens, DEXs is not anything particularly unique that makes it worth abandoning CEX completely. 99% of the problems that arise due to working with CEXs are created by the users themselves. Whether this is the fault of the services themselves is a big question.

Being the early user it could've been possible. Right now it is really hard to make use of CEX without KYC. For the users who doesn't want to fulfill KYC, they could prefer DEX. With CEX things were going good and provides good liquidity. Majority of the problem happens with the careless of the user. Having a double check will keep everything functional without error. However while choosing the CEX we need to be careful finding the right one and using it, getting into the untrusted platforms gonna make the user suffer.

Using CEX without KYC will become more difficult as government cryptocurrency regulations are finalized and enacted, so the idea of using CEX without KYC will no longer be viable. But the role and importance of CEX in the market cannot be denied, I believe that even if the government tightens KYC, many people will still use CEX and not DEX. I agree with Ratimov, there are too many inadequacies in DEX and it will not be resolved overnight.

DanWalker

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Quote from: DanWalker on October 05, 2023, 06:32:39 AM

But if you value privacy, you should use DEX from the beginning, don't try CEX without KYC, sometimes there will be unpredictable problems, IMO.

I have been using CEXs without KYC for 7 years and have not experienced any problems. DEXs are not the best solution for everyone because they are very expensive in fees, do not support the right assets and networks, and have poor liquidity. I will switch to DEXs when one token to another is as cheap and hassle-free as on CEX, but until this happens, DEXs is not anything particularly unique that makes it worth abandoning CEX completely. 99% of the problems that arise due to working with CEXs are created by the users themselves. Whether this is the fault of the services themselves is a big question.

As I know, most CEXs require KYC before we can use them. Only a few do not require KYC but some features will be limited and withdrawal amounts will also be limited. I am not saying that DEX is superior to CEX, DEX does not have full functionality and has many shortcomings such as fees or liquidity that you mentioned. That is why to date investors and day traders still choose CEX over DEX despite collapses like Mt.Gox or FTX. But if someone is just a pure bitcoin holder and cares about privacy then DEX is the perfect choice for them.

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Quote from: Stable090 on October 05, 2023, 05:29:55 PM

Quote from: Lorence.xD on September 27, 2023, 12:09:50 PM

Well almost everything you said is true like Bitcoin is an asset that has a good potential especially in the long term. And the fact that you could control your own assets as if it will rely on your hands for your every call in the market. But let's not sugar coat and be biased in Bitcoin, it's actually convenient as you could transfer and do transaction worldwide by just having the internet via Bitcoin. But some transactions can also be slow or having traffic due to many people are having a transaction at the same, which could be bad thing if you're converting funds into fiat in case of emergency. And also don't forget it's volatility that also involve risk if people are not aware from it, which I don't blame Bitcoin but the user already.

When they learn that bitcoin should be a long-term investment, most beginners are always have questions and keep wondering when the bull run will begin. Trying to persuade people to invest by pointing up the assets' potential. There is nothing more fascinating than observing how you manage your money. There are many benefits involved associated with investing in bitcoin, including the ability to save money while still expecting a profit and having a lightning network and the ability to transmit assets anywhere at any moment for such fascinating futures comes with its own set of price and scam risks. Mempool issues are not always frequent so still preferable. However, when it does, it is a huge disadvantage, similar to what you said about having an emergency, but even then, there is still a significant investment to be made.

Bitcoin beginners often experience a rollercoaster. Understand Bitcoin and its dynamics is like cracking a changing code. Many believe this is a get-rich-quick gimmick, but it's much more. What gets us hooked on Bitcoin is its intriguing potential, right?

My concern is that if we focus too much on Bitcoin's potential, we may ignore its genuine value. You mentioned the lightning network? Changing the game. It has drawbacks like the mempool issue you mentioned. When transactions stall, people panic. Like forgetting the cake at a surprise party!

Much remains to learn and acquire. Lets be careful, knowledgeable, and patient. Whos committed?

jeraldskie11

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Quote from: Vaskiy on October 05, 2023, 06:24:17 PM

However while choosing the CEX we need to be careful finding the right one and using it, getting into the untrusted platforms gonna make the user suffer.

Because there are so many crypto exchanges developing today, it is vital to do a research of the exchange before utilizing it. You should avoid not only CEX with unfavorable evaluations, but also new exchanges. Most new ones offer specials or incentives to attract new users, so we must be cautious. If you do, start with a tiny sum of money.

Binance is the finest CEX for me, despite the fact that there have been numerous accusations leveled against it, and I have never seen their users assets compromised. They also have excellent customer service, which is essential in this platform.

Vaskiy

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Quote from: DanWalker on October 05, 2023, 06:32:39 AM

But if you value privacy, you should use DEX from the beginning, don't try CEX without KYC, sometimes there will be unpredictable problems, IMO.

I have been using CEXs without KYC for 7 years and have not experienced any problems. DEXs are not the best solution for everyone because they are very expensive in fees, do not support the right assets and networks, and have poor liquidity. I will switch to DEXs when one token to another is as cheap and hassle-free as on CEX, but until this happens, DEXs is not anything particularly unique that makes it worth abandoning CEX completely. 99% of the problems that arise due to working with CEXs are created by the users themselves. Whether this is the fault of the services themselves is a big question.

Being the early user it could've been possible. Right now it is really hard to make use of CEX without KYC. For the users who doesn't want to fulfill KYC, they could prefer DEX. With CEX things were going good and provides good liquidity. Majority of the problem happens with the careless of the user. Having a double check will keep everything functional without error. However while choosing the CEX we need to be careful finding the right one and using it, getting into the untrusted platforms gonna make the user suffer.

Stable090

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Quote from: Lorence.xD on September 27, 2023, 12:09:50 PM

Well almost everything you said is true like Bitcoin is an asset that has a good potential especially in the long term. And the fact that you could control your own assets as if it will rely on your hands for your every call in the market. But let's not sugar coat and be biased in Bitcoin, it's actually convenient as you could transfer and do transaction worldwide by just having the internet via Bitcoin. But some transactions can also be slow or having traffic due to many people are having a transaction at the same, which could be bad thing if you're converting funds into fiat in case of emergency. And also don't forget it's volatility that also involve risk if people are not aware from it, which I don't blame Bitcoin but the user already.

When they learn that bitcoin should be a long-term investment, most beginners are always have questions and keep wondering when the bull run will begin. Trying to persuade people to invest by pointing up the assets' potential. There is nothing more fascinating than observing how you manage your money. There are many benefits involved associated with investing in bitcoin, including the ability to save money while still expecting a profit and having a lightning network and the ability to transmit assets anywhere at any moment for such fascinating futures comes with its own set of price and scam risks. Mempool issues are not always frequent so still preferable. However, when it does, it is a huge disadvantage, similar to what you said about having an emergency, but even then, there is still a significant investment to be made.

DanWalker

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Quote from: Learn Bitcoin on October 05, 2023, 06:19:57 AM

Quote from: xzy887 on October 05, 2023, 04:08:58 AM

Then you should have told this answer how to buy bitcoin without bank or government supervision. It will be very helpful for those who don't know much about this subject like me.
But I think, first of all we need the help of some bank or exchange for first time buy Bitcoin.
If someone wants to buy bitcoin in a new state, how can they buy it?
What is your opinion on that?

You still have options to buy Bitcoin without compromising your privacy. You have to search for it. It depends on where you are from. You can try platforms like agoradesk.com where you can buy Bitcoin without compromising your personal information. Even some centralized exchanges do not ask for KYC. You can check this thread No-KYC Exchange Encyclopedia by Ratimov. Currently, there are 49 exchanges listed that do not ask for KYC. You can find the best one according to your needs.

We can still buy bitcoins without losing our privacy, but we still need the help of banks, if we don't use banks there will be no way to buy bitcoins even if we use DEX or centralized exchange. As long as fiat currencies remain the world's primary currency, we will always need the help of banks and fiat if we want to own bitcoin. That's actually quite annoying but we don't have a solution for that yet. But if you value privacy, you should use DEX from the beginning, don't try CEX without KYC, sometimes there will be unpredictable problems, IMO.

Learn Bitcoin

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Quote from: xzy887 on October 05, 2023, 04:08:58 AM

Then you should have told this answer how to buy bitcoin without bank or government supervision. It will be very helpful for those who don't know much about this subject like me.
But I think, first of all we need the help of some bank or exchange for first time buy Bitcoin.
If someone wants to buy bitcoin in a new state, how can they buy it?
What is your opinion on that?

You still have options to buy Bitcoin without compromising your privacy. You have to search for it. It depends on where you are from. You can try platforms like agoradesk.com where you can buy Bitcoin without compromising your personal information. Even some centralized exchanges do not ask for KYC. You can check this thread No-KYC Exchange Encyclopedia by Ratimov. Currently, there are 49 exchanges listed that do not ask for KYC. You can find the best one according to your needs.

xzy887

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Quote from: BALIK on October 02, 2023, 10:44:50 AM

Quote from: Learn Bitcoin on October 02, 2023, 09:16:37 AM

Quote from: Inwestour on October 01, 2023, 09:43:22 AM

Governments will always seek control, this will especially apply to Bitcoin due to its decentralized nature. Of course, they will try to convince that banks are the best place to store bitcoins, thereby taking control of it.

This is going to be Bitcoiner's 2nd mistake. The first mistake they made was trusting exchanges with their Bitcoin. Bitcoiners are supposed to use exchanges to exchange the coins, and their balance is supposed to remain after the end of the transaction. People started using exchanges as wallets and kept their BTC there even after the end of the trades.

At first, the exchanges weren't collecting users' private data. Slowly, they started asking for private information, and people didn't think twice because exchanges started offering bonuses for their KYC.

Now, if people start using banks for their crypto transactions widely (People already using banks), this is a success for them and a failure of Satoshi's goal.

But I think the fact that exchanges force users to KYC is because the government is the one who orders it, so to speak, all the things that make bitcoin gradually become more centralized may be a big plan of the government behind it. But I don't think everyone will use exchanges or banks to store their bitcoins. Don't forget that most people choose bitcoin because they are fed up with bank or government policies and they look to bitcoin as an escape. So there will be many people who will continue to use bitcoin with non-custodial wallets, not everyone will be stupid enough to go back to banks and trust the government again.

Then you should have told this answer how to buy bitcoin without bank or government supervision. It will be very helpful for those who don't know much about this subject like me.
But I think, first of all we need the help of some bank or exchange for first time buy Bitcoin.
If someone wants to buy bitcoin in a new state, how can they buy it?
What is your opinion on that?

ancafe

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Quote from: Vicson1 on September 27, 2023, 11:58:36 AM

People are inspired by different things all over the world. Some are inspired by cultures, nature's beauty, situations, individuals, etc. if the feeling to do something isn't gotten correctly, the expected results may not be gotten, hence leaving such a person in disappointment and frustration.
Here are some tips on why I invested in Bitcoin.

Anyone will never get inspiration if they don't know what they are doing and in the end they will never get maximum results if they don't study properly. From the several points you mentioned below, there are price fluctuations that can lead someone to experience losses when investing. That's why knowledge is needed when someone is involved in it because risks cannot be avoided if someone does not understand the correct investment patterns.

Quote from: Vicson1 on September 27, 2023, 11:58:36 AM

Bitcoin is revolutionizing the financial market, making it the economy of the future you too can take a bold step to invest in Bitcoin if you haven't invested.

Hopefully the advantages possessed by bitcoin can confirm your intention to achieve financial freedom and if you think bitcoin is the economy of the future then this step should be the starting point for us to take advantage of it. Because if you only talk but don't act then bitcoin can't provide anything for us and I think there are many people who know the advantages that bitcoin currently has.

Ale88

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Quote from: Vicson1 on September 27, 2023, 11:58:36 AM

2. Investors like bitcoin because it's different from the traditional financial system that's controlled and regulated by the government of such a country. With bitcoin and crypto in general, transactions are outside the control of anyone, entity, organization, or person.

This is half true: the majority of people still need exchanges in order to safely buy bitcoins, and as we know exchanges require KYC and they can also freeze accounts so it's true that bitcoin itself is can't be controlled by anyone but at the same time getting bitcoin could require some type or "organization", exchanges in this case. Not everybody is willing to use DEXs or buying bitcoins in the street.

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Quote from: xzy887 on October 02, 2023, 10:35:25 AM

This alone is enough. Bitcoin is a trusted asset.

It depends on the individual. There is a person who is still not confident to invest in Bitcoin although we call it as a trusted digital asset. But for a crypto enthusiast, it can be more than enough to be the main reason to invest in Bitcoin. Educational background or the insight/knowledge has a crucial role to convince someone for joining Bitcoin investment.

Quote from: xzy887 on October 02, 2023, 10:35:25 AM

Which is likely to be legalized in all countries in the future.

How do you know it will be legalized in all countries?
I actually really expect this, it will be a big boost for crypto. However, since the government doesn't like a decentralized idea, it is likely a bit difficult to be legalized by all governments in the world.

Quote from: xzy887 on October 02, 2023, 10:35:25 AM

I believe that Bitcoin will reach its peak one day.

What is the peak of Bitcoin in your perception?
I think everyone may have a different perception about what the peak of Bitcoin is.

Quote from: xzy887 on October 02, 2023, 10:35:25 AM

So if you have the power (extra money) then I'd say definitely hold on to Bitcoin. At least for your child's future.

Sure, we invest in Bitcoin or other investments are for the future of our children, too. But don't rely on Bitcoin for our children future.

wallet4bitcoin

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Like every other business conscious individual, what drove me to invest in bitcoin is the volatility as at when I first encountered it.

Imagine seeing a currency that can appreciate in value with its volume remaining the same and no action taken. I considered it a worthy investment and I decided to invest in it without any doubt that it will be a profiting venture for me.

Dr.Bitcoin_Strange

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To all Bitcoiners, I believe they all have their reasons and inspirations for adopting Bitcoin, which could all be just a similar reason. For myself, I got inspired to buy Bitcoin because I just realized that it was really an asset that is worth owning, so I just bought my first Bitcoin when I realized it. Meanwhile, some years ago, I was so skeptical about Bitcoin that I did not even believe that it could be possible to sell Bitcoin anywhere, but the issue then was that I did not just have better knowledge about Bitcoin; I was only hating it blindly. But now that I have knowledge about Bitcoin, I have got to love it and even wish to have more than the amount of Bitcoin I am holding in my portfolio.

Out of mind

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Quote from: Vicson1 on September 27, 2023, 11:58:36 AM

✂️

When a person learns cryptocurrency with the aim of increasing his money, his intention is to earn well. When you get into crypto, you will be inspired by Bitcoin because Bitcoin is a store of value. From Bitcoin, people raise funds in various ways to brighten their future so that they can become great people in the future. Since you have learned enough about Bitcoin, you are motivated towards Bitcoin, which has helped you to invest. You must be careful of all things, when market volatility starts you may face a lot of loss, but you have to be patient. The tips you have provided really depend on all of this to inspire a person's attention to Bitcoin, which is really interesting.

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Quote from: CryptoHeadlineNews on October 02, 2023, 02:55:14 PM

Quote from: Cvetik56 on October 02, 2023, 10:58:27 AM

Well, some people see BTC as a currency too, but I think it's hard to use it like that. At least for me, I wouldn't want to spend it just like that on groceries or anything else unless I had no other choice. Also, A lot of people are already regretting missing out on Bitcoin, but most people don't care or don't even know about it much. The number of disappointed will grow, but I don't how fast.

Yes, it's true that in the next 10 years from today people will still regret failing to invest in Bitcoin, the same way we have many regretting today for failing to take advantage of it when they had the opportunity 10 years ago at a cheaper rate, which is one thing inevitable when it comes to new innovation, as not everybody will be interested in it at the first instance, while others afraid not to lose their hard earn money, and as such miss a golden opportunity which Bitcoin offers. But one thing we all need to know is that not everybody will be interested in Bitcoin, and that's totally okay, but us who understand and know how it works, let's not fail to keep accumulating more now that the price is low that that when the price goes high, we stand to be among the lucky ones who will real the profit when Bitcoin goes 5x and 10x.

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Generally, we are inspired because we see some people have shown their money and earn huge profits on social media. There is traction now which is far different from the past because if we are able to recall 10 years ago, only a few people see this have a futuristic aspect that could help us improve our living while the majority are rejecting it. But for now, we heard a lot of testimonies and commendations that grab attention and fuel us to invest believing that it also happens to us.

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Quote from: Vicson1 on September 27, 2023, 11:58:36 AM

...

Bitcoin is revolutionizing the financial market, making it the economy of the future you too can take a bold step to invest in Bitcoin if you haven't invested.

everything you think about bitcoin is correct, I add a little that you can invest your money in bitcoin even in the amount of $10, while if you invest in other things such as property, shares or others then it is impossible for you to be able to invest $10.
bitcoin is a great thing in this century, you are free to call it an investment asset and you are also free to call it a currency, in essence bitcoin gives you freedom. the growth of bitcoin investors continues to increase, especially young people who are looking for extra money, so it is very natural that the price of bitcoin is predicted to continue to rise.

Topic: What Inspired Me To Invest In Bitcoin. (Read 815 times)