Topic: What Inspired Me To Invest In Bitcoin. - page 4. (Read 900 times)

I see your points as more of a reason rather than tips, but nonetheless thank you for sharing it with us. I'm sure all of us have various different reasons why we chose Bitcoin. Personally, I relate with you regarding your reason 1 (Bitcoin is an asset), a reason that I'm sure many of us share. Moreover, I also agree with you with Bitcoin providing a fast transaction, at least that is based on my experience so far.

Improved the lives? In what aspect? Keep in mind that Bitcoin yet is still not widely accepted across countries therefore it is not being used as a tool with inflation, at the present. Indeed many of us benefit from this technology as an investment but other than that is a bit off. Think of how many people are actually using Bitcoin as a mode of payment outside this industry such as to purchase goods; most of us are guilty of not doing so. It is a normal response ‘coz we know how big its potential as an asset. But I doubt it made such impact as changing our lives given that not all people are making use of it.

Bitcoin had been a savior to us for a long time now and we should always be grateful for what Satoshi was able to incooperate so that we shall not be drained in the so called fiat policies that we are expected to adhere to. If not for Bitcoin, many people would have not even see the light or reach the level that they are now. As inflation keep increasing the price of goods and services continuously making it hard for an average man to feed there family or to pay bills. Bitcoin had really improved the lives of man and we hope to enjoy more of what Bitcoin has for us.

But if you compare using bitcoin to transfer money across borders compared to bank transfer methods, it is clear that bitcoin is much faster and safer. Altcoins are faster than bitcoin, but to do that they have eliminated decentralization and are completely centralized so they can have faster processing speeds than bitcoin. So it cannot be said that altcoin wins in this case.

Of course, financially, bitcoin gives us freedom from government control but I don't think that's the top priority. I think its profit is what we prioritize and care about more,  then privacy.

Thanks for sharing why you choose to invest in Bitcoin and like you've said, everyone has their own reasons why they choose to invest in Bitcoin, mine isn't necessary about the fast transaction speed, as this point isn't that valid, Bitcoin transaction speed isn't the fastest, and I am not ready to rule it out just for the transaction speed.

Just so you know, many Altcoins have better transaction speed than Bitcoin and that doesn't make the altcoins better than Bitcoin, so I don't want to use transaction speed as a plus reason why anyone should ignore Bitcoin, it's not even a plus.

Bitcoin is the oy digital currency that starts as a true decentralized coin and stays the same for years, its proven to be a real decentralized coin and that makes it a reliable one for my taste, I don't like living under the power of the government and Bitcoin is the only coin that brought me out of that tight spot already.

This is my one and only reason why I will always have Bitcoin, and the second part is all about the value and money that Bitcoin can bring to your door in the future.

It is the most reason why people are joining Bitcoin. Many of people are interested in the potential price increase of Bitcoin, it can skyrocket when there is a bullish season. But we must understand that Bitcoin price won't always increase. There is time when Bitcoin price tends to decrease constantly. When we are in the bearish season, don't expect that the price of Bitcoin to increase constantly. So, be careful if you have a plan to buy Bitcoin during the next bullish season.

Do you think Bitcoin is decentralized?
It is true that Bitcoin isn't controlled by the government. But they regulate the local market of crypto (local exchanges). In my country, if you sell-buy Bitcoin in an exchange, you will pay taxes for the government.

Long term holding is good for BTC investment but for cryptocurrency as a whole, I don't think it is a one solution fits all since there are lots of cryptocurrency that are now dead and worthless.  If we apply your suggestion then most probably many have lost huge amount of capital by doing long-term holding in these kinds of cryptocurrency.  It is best to identify first the kind of cryptocurrency we are investing to avoid losses.



I disagree, crypto trading in its own term is not a gambling.  It only became a gamble when the person do not know what he is doing, actually if a person don't know what he is doing, it is not called trading but gambling.


It is true that real life use case of cryptocurrency is still limited but I disagree that it is due to lack of mining power.  It is due to lack of merchant adoption.

Cryptocrrency is a brand new interesting fintech solution, so I think that it's useful to have some crypto. As for investments, I think that the best investment strategy in crypto is long-term hodling. Prices fluctuate heavily, so it's quite hard to get some profit out of short-term trading. Cryptotrading is actually a gambling, however cryptohodling is indeed a good decision. As for usage of crypto instead of money, I suppose that adoption level won't be so high that we will be able to use crypto for any purchase we want (there is still lack of overall mining power), so the only purpose of crypto is the asset of long-term hodling...

From the origin,the bitcoin was the one of the cryptocurrency which always had the demand in the market.After the decade,the bitcoin price was increased to the maximum of 68k dollars only by the demand of the bitcoin price.The variation in the price give us the opportunity to earn some dollars.The important thing is buy the bitcoin at the bear market will give you additional dollars as compared to buy at the bull run.The bitcoin will get the halves in 2024,So the new all time in the short period.

The longer that you stay with Bitcoin as an investor, the more you research about Bitcoin and the future potentials of a Bitcoin cryptocurrency as legal tender all over the world. We already have passed the milestone of entire countries adopting it legally, next is the world. Sure, it might take a while but nothing outside our lifetime, that is for sure. Hope you keep staying along with us for the journey.

I was not surprised to see your first reason being something having to do with "profits" but I am happy to see you mentioning other great/important things about bitcoin.  Things that make bitcoin special..all the things that made me want to "invest" in bitcoin.  It's always been so much more than an asset to me, and I hope others continue to see past that aspect.

Your stated reasons for investing in bitcoin are commendable, to begin with, and most of us were inspired by one or two factors similar to yours.

The ability to use bitcoin as a store of value for future purposes, financial freedom, anonymous and fast transactions, and no third-party control or surveillance of how my crypto money is being used, unlike the traditional financial system (bank), are the reasons that got me inspired to invest in bitcoin mostly.

When I first discovered Bitcoin it was really a new thing for most people probably there were only a few people in my country who believed in Bitcoin at that time so its really difficult to trust cryptocurrency since there was no kind of proof at that time that it is a reliable investment, but still because of this forum I really learned a lot and it really the thing that makes me invest on it and continue to invest.

It's really a good thing since we could do DCA on cryptocurrency allowing us to invest probably just a small amount and over we could make our way on our investment accumulating Bitcoin over so that in the end we are able to accumulate a big amount of Bitcoin and able to sell it on the Bullrun.

I mean Bitcoin transactions weren't really that fast and at the same time to included a fee that sometimes increases big time, I think it is one of the things that most investors don't like about Bitcoin. But still, even though it is a very risky investment it is still a good investment especially if you want to fight inflation, and possibly earn a good amount of money if you already know what you doing.

I think Bitcoin is going to be the future, we can already see how the cryptocurrency and Bitcoin adapt all over the globe, and it is for sure going to have a big value in the future, so with its limited supply its already a good thing in my opinion to accumulate while Bitcoin is still in a fair price.

Inviting family to invest with Bitcoin is the worst idea for me because you might be blame when they lose even if you provide full disclosure before they will invest. You are the one who will introduce this to them without them asking for it so there’s a chance of blaming game once they loss since they are not supposed to invest on this if you didn’t invite them.

This is base on my experience on inviting relatives. It’s better to only teach person that ask for it i stead of inviting person that doesn’t have the initial interest for Bitcoin investment. Maybe just gift them some Bitcoin so that they will research for it by themselves since they will become curious on what you gift to them.

This is the fundamental, isn't it? I know there are as many success stories as failed stories with investing. While one cries, the other celebrates. That's the beauty of it, some may think that going in with cryptocurrencies is such as a smart move to make money but in reality it's a heck of maze where everyone wants to take profit, it's a wide chess board. The first thing that inspired to take a step into bitcoin is its uniqueness back then, the feeling of a tech-smart guy with his money injected into the internet, that's very cool right? 

Bitcoin became an asset, on its whitepaper it should be a currency, but with its volatility and hype it became a valuable asset for many of us. I agree bitcoin is not as profitable as it is way back then, and it is mainly because we don't use it for its purpose, we do it for money.

While it might seem stress-free and straightforward, the technical aspects of handling and securing Bitcoin investments might pose a challenge for non-tech-savvy investors.

While it is impressive that Bitcoin has held its own against other cryptocurrency platforms, this does not imply inherent superiority. Just because it has recovered from setbacks in the past does not mean that it will do so in the future. Prior to making any kind of investment, we should always be well-informed and weigh all sides. The notion of diversification in investment remains a basic aspect of prudent investing, even with Bitcoin's potential for long-term value growth.

Most people who want to start investing in bitcoin actually see people who have been able to improve their standard of living through the investment they make in bitcoin, but every profit certainly has a high risk so we need to really understand it well before we try to start. Inviting families to invest in bitcoin is a very good thing but we have to tell them that this is a very risky investment and we have to guide them well so they can understand about this investment.

Likewise many investors degrade their way of living because of the wrong choices they made while invested in Bitcoin.  Inorder for one person to profit, one must part with their money.  So as much as there are success story in Bitcoin investment, there are also lots of failed story within it.



Dependent on the kind of strategy we use.  Bitcoin nowadays is not as profitable as it was way back in its early years when investors could profit 100 to 1000 times of their investment.  In order to get huge profits in Bitcoin today, also needs a huge capital for investment.  A thousand-dollar investment in Bitcoin cannot elevate the level of status of a person today since Bitcoin can only possibly be 2x to 4x its previous ATH.

When it comes to large transactions a bank will often need days to process them. They can't get you 10 million just like that. They also will not allow you to withdraw large amounts in cash. Many banks will need a couple days to get you a simple 100 thousand and will require you to give them a heads up.

Banks will not process your transaction on Sunday so how is that faster than bitcoin?

It's also cheaper when you send money to a different part of the world where banks don't recognize your local currency and you need to exchange via bank.

Seeing many people have improved their living after investing in Bitcoin, brought attention to me, and started to follow what they are doing. Yes, profit is the main reason why I'm risking and why people are encouraged despite the risk that awaits us. We can't deny the opportunity given to us and of course, no one is able to just ignore it knowing that it changes one's life.

Investing in Bitcoin is just like making a better future that can be shared with the next generation of our family. But all of these become possible if we clearly understand how the market works and are patient enough.