Topic: What Inspired Me To Invest In Bitcoin. - page 2. (Read 884 times)

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.

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.

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.

This alone is enough. Bitcoin is a trusted asset. Which is likely to be legalized in all countries in the future. I believe that Bitcoin will reach its peak one day. So those who stay away from holding these assets will regret it 5 years from now. As we later learned about bitcoin.
So if you have the power (extra money) then I'd say definitely hold on to Bitcoin. At least for your child's future.

This reason is certainly one of the reasons that the majority of bitcoin investors currently have. Because currently bitcoin is more widely used as an investment asset than as a transaction tool. The reason is because as you explained, the point is about the size of the profits that can potentially be achieved. So you could say that the attraction of bitcoin for most people who want to invest in bitcoin today is about the potential for the money they invest in bitcoin to potentially grow to very large amounts.

When talking about systems that run on Bitcoin, I personally also strongly agree with this reason. Because as we know, bitcoin is a decentralized cryptocurrency. This means that no party can regulate or manipulate the system within it. However, it's a different story when it comes to regulations regarding Bitcoin in a country. Because as far as I know, not all countries allow their people to own bitcoin. Therefore, in terms of government regulations in a country, Bitcoin investment still has regulations that must be obeyed by the public. So basically when it comes to the system running on Bitcoin, no one can regulate or manipulate it unilaterally. However, when it comes to bitcoin ownership regulations, you can be sure that everyone in a country will still own it.

From my personal experience, the speed of transactions in bitcoin depends on the fees we give to miners for the bitcoin transactions that will be carried out. Because if, for example, the fees or rates are too cheap, usually transactions will run quite slowly because they are constantly piled up with other people's transactions with higher fees or rates. So if you say Bitcoin has very fast transactions, I also agree. However, it all still depends on the fees given to miners.

This is certain and natural. Because Bitcoin is indeed the pioneer in the birth of crypto currency into this world. So you could say Bitcoin is the king of cryptocurrencies, the best, highest quality and safest cryptocurrency.

Bitcoin is good, the transaction is fast, and it’s also cheaper, but most times we also experience high increase in bitcoin transactions fee price which we can’t deny that fact, and local transfer for inter banking transactions are also cheaper most times compare to the 0.2-0.8$ bitcoin fee if converted to local currency.

The manipulation part is what I really know that it’s hard for such to happen as the network makes it hard for people to manipulate the figure or the transaction date and amount self, but when we talk about hacking, the developers are also trying to update the codes all the time and make sure that everything is in other which make things secured for the blockchain, I believe anything can be hacked, but bitcoin network just have a little chance for that to happen because it don’t have anything that hackers can use yet to hack it, but I don’t think it’s completely off the league.

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.

How decentralized, secure and private will Bitcoin be when you use an exchange to transfer money across borders? Why don't you use a non-custodial wallet to store and transfer your bitcoins easily? We don't necessarily need to use exchanges to transfer bitcoin across borders.

If you only compare bitcoin to altcoins then that is true but if you compare it to traditional investments then you are blatantly biasing bitcoin. Talking about safety, bitcoin cannot surpass gold or real estate, bitcoin is still riskier. That's why we always say that we should only invest in bitcoin what we can afford to lose.

Interesting perspective on Bitcoin as an asset. It's definitely shaking up the traditional financial scene.

Profit always comes when you are confident about your investment, when you have invested in a coin that has also gained so much potential,
how could it not be better for someone?
Also, trading requires certain skills, which puts a person into the profit areas, if he studied projects well and he analyzed them quite nicely. Then it would be very beneficial for the trader. Bitcoin is a great choice for investing. Whether someone is going to take it as a long-term investment.
And now it has crossed $28k, which is quite amazing for the traders, and thus it is a positive sight of investment for the traders, who love bitcoin the most.

The fact actually is that, we all have our individual and basic reasons why we individually have chosen to invest in bitcoin, but the most general reason is for the fact that with Bitcoin, supposed profits can be actualized or gained in the shortest period of time compared to other traditional assets like gold, stocks, shares etc.

Investing in bitcoin is also easier and open to any one no matter thier financial status in the society, it's not like buying shares from some company where they would require you to filled out several documents, performs various degrees of kyc and so on, and also have to go through almost the same process, and pay heavy taxes to the government upon selling those shares and withdrawing the money and profit.

Bitcoin is available and accessible to both the poor and the rich, it is an asset for anyone and everyone, bitcoin doesn't discriminate, and neither does it know gender or locality.

The reason why Bitcoin is really good is because it is decentralized, 100% secured, and its privacy is 100% anonymous. What's even more interesting here is that you can use it to send money to other countries depending on the exchange you use and depending on the country you're sending to, and I've tried it anyway.

Apart from that, it is the safest long-term investment. If the rich people buy it for the long term, I am just an ordinary person, so of course I will also try to save it by doing DCA, right?

I'm not saying that everyone prioritizes profits over privacy, but we shouldn't deny the fact that those who prioritize privacy in the market are a fairly modest number. People need profit, need convenience more than privacy, that's what's happening in the market. And that's also why many people are disappointed that today's bitcoin investors are making bitcoin more centralized because they rely so much on centralized exchanges. It is really difficult to change this because money is considered so important and indispensable in today's society.

Looking at the rate of inflation that is hitting various countries' economies and their local fiat currency on a steady decline that alone is enough to think of investment into Bitcoin and to hedge against inflation. Secondly, the freedom that comes with owning Bitcoin is the greatest thing that has happened to our generation and it is worthwhile taking such an investment opportunity.

Profitability potential.

Decentralization.

Real time transactions without frontiers.

Dominant among all cryptocurrencies inside the market.

Briefly, these are the factors which motivated you into Bitcoin investment, and they are really good ones. By reaching that conclusion, I can say you observed crypto market closely, paying attention to practical and benefical features of Bitcoin, instead of wasting time with shitcoins and their promoters who only seek for luring greedy investors into their schemes, in search of overnight enrichment. Keep focusing your attention, investments and effort in Bitcoin and it must guarantee you good results in some years.

It is quite difficult if Bitcoin should become an official currency today. Its purpose is clear, but its implementation and government regulations do not allow it.
Each country has the right to give its own regulations regarding the use of bitcoin.
Bitcoin is currently more commonly used as a speculative asset only. Utilizing the high volatility that exists in bitcoin for profit.

Firstly, to deal with Bitcoin you need to have money. That is, there is a large group of people for whom this product is not available due to its great value.
You also wrote that with Bitcoin you can start small and end up with something big. But it is worth noting that this is due to the price at which you bought Bitcoin. If you bought it for $60,000 and are sitting with this asset today, then you only have hope and a high probability that it will grow in the future, and today there is a big loss of money
It is worth noting, of course, that Bitcoin is dominant today and with the right investment you can really get rich

You are liking this volatility because it's historical data shows a massive bullish trend formed up.


Some people might have prioritized their privacy over profit, but the number is quite low. Some People will share their KYC data with any platform if they are certain about profit. Most humans are greedy by nature. Thats why millions of pieces of customer data are floating around the internet leaked through poorly managed websites. If your private key is safe your bitcoin will remain untouchable if you don't connect your wallet with any third-party website.

There's literally a lot of people that would prioritize their privacy over profits. Just imagine this, especially to the newbies in the crypto industry that would live to invest or trade in Bitcoin. Yeah you might already have the knowledge before entering the market but that's one step to prioritize profits and privacy, to trust decentralized system risked their funds cause they would like to earn profits. Thing is we could agree that some centralized exchanges are more secured and not prone to hackers and scam, the only thing that would lose trust of the customers are the exchanges itself. Cause people would focus on profits to avoid the transactions fees to that exchanges over their security.

By chance, have you missed the main reason that prompted you to invest in bitcoin? Namely, it’s easy and quick to make money when you see how rapidly the price of a bitcoin is rising. Although wait, in December 2022, when your account was created, bitcoin was not experiencing the best of times. Then BTC cost ~$17k, but already from the beginning of 2023 you could see the growth of the bitcoin, which could be really intriguing, right?

When people talk about what exactly interested them in the bitcoin, it seems to me that they are being slightly disingenuous, keeping silent about such a point. In my opinion, the first thing that attracts most people in the bitcoin is precisely the insane rise in price and the opportunity to easily make money without making any effort: just buy, wait and sell with a profit. Another thing is that in reality, it doesn't work out as easily and as quickly. But all the other features of the bitcoin that you described begin to interest people much later, as they immerse themselves in the environment of the bitcoin and the BTC-community. If, of course, the investor has a penchant for knowledge, and doesn't experience only greed.