What motivates you to start investing in cryptocurrency？ - page 2.

Darker45

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Quote from: Ryder Kudrow on August 06, 2021, 03:28:10 AM

How did you start investing in cryptocurrency？

If we talk of investment, we talk of ROI. I'm not sure if we could discuss about investment and not bring profit into the discussion. So if one invests in Bitcoin or other cryptocurrencies, ROI should be a consideration.

I agree with Lucius that if we are not to lie and pretend too much, the bottom line would probably be profit more than any other. After I encountered Bitcoin, I learned more about it, albeit not much of the technical side of it, and I grew enamored of its kinda rebellious philosophy or radical nature. I remember how the term decentralization became a sort of a battle cry which I admired so much.

However, I wouldn't have been excited to buy and even tried to earn more of it through trading had I not also discovered that its potential appreciation in price is very huge.

I would have already stopped accumulating, buying the dip, stacking Sats, and so on years ago if I were only looking at Bitcoin's philosophy. So right now, quite frankly, the greed in me is primarily influenced by the fact that Bitcoin would become more precious someday.

Pokapoka124

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Yes I invested in bitcoin for profits. Why would any smart investpr invest in anything that isn't lucrative? It's insane! In the crypto market, I have witnessed coins with no use cases spike in price than coins with use cases. A small portion of the population care about the technology of a project

isaac_clarke22

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Quote from: Lucius on August 06, 2021, 08:01:51 AM

~

I am even guilty of this. Cheesy

But to save it off, I am still using my BTC to send out money to my distant friend outside of my country. Without the authorities involved, I am able to send it without getting involved into too much trouble like having expenses with my transportation plus the fee that I would potentially pay for due to the service done and I know we have mining fees but that does not even matter to me.

Coyster

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I've said this a couple of times, and I don't mind saying it again, my interest in Bitcoin stems from the fact that I have the sole responsibility of being my own bank, quite a lot of people do not know exactly what that means and the advantages it entails, when you talk about traditional financial systems, it's the government that are in control, they are free to print their currency how they feel, notwithstanding the consequences of inflation or not.

Having said that, how can one who is concerned about their funds, how to protect it and their privacy not be interested in Bitcoin, thus that's the reason why I'm in the network, cause of the control of funds and freedom Bitcoin offers, and then the possibility of great ROI in the long run, it is just the perfect blend of what any who is concerned about their funds like myself wants.

Findingnemo

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Bitcoin = Financial freedom

Quote from: mk4 on August 06, 2021, 10:27:00 AM

Quote from: Findingnemo on August 06, 2021, 10:15:39 AM

My cousin has been in the cryptocurrency investment for very long and I guess since 2014, but I didn't know the potential of cryptocurrencies at that time, if I started investing by that time then now I maybe a billionaire now. Tongue

It's really easy to say "if I invest in 201x I could be a billionaire now" if you only look at the price multiplier. But in fact, you likely could've just panic sold when bitcoin dropped from $600 to $200. And especially if you're a beginner with investing at that time, it definitely might have been the case. Heck, even I could've probably panic sold.

Just for the fun fact but there is no regret for not investing in the earliest days because I found BTC is an asset must be in our portfolio atleast a bit later. Yeah, even if we invested in the early stage we might cash out when we see the price hike up 10x in a year or two but I am not kind of panic seller because I invested at higher price in 2018 but never got panic even when price reached 2018, I just cash out only when I need money and keep adding the BTC whenever I have money to invest since I believe compounding can also make us a billionaire. Wink

Oceat

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I would be lying if I answered I am not after the profit plus the probability of gaining more profit by ten folds of your investment is making it interesting. And also the capability of controlling your own money within your own bank that no single entity had control over it is a real deal.

Although, bull run is not happening everyday yet when that time comes everyone is like winning a jackpot in lottery but of course, we can't deny the fact that more people are suffering from losses when they can't gain profit because they fomo during the ATH and these are usually newbies that didn't do their own research.

sapnu

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It all started with a dream of escaping poverty. I live in a third world country wherein escaping poverty was never an easy thing to do considering how few the opportunities there are. As a friend of mine introduced me into cryptocurrency, I was hesitant at the beginning but as he showed me evidence on how profitable it can be, I started dedicating most of my time on it. I managed to make my family financially stable even though I was still a student at that time and I was able to escape poverty for real that's why I will forever be grateful with that friend of mine.

Frengki_cisco

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Quote from: Ryder Kudrow on August 06, 2021, 03:28:10 AM

How did you start investing in cryptocurrency？

At first I knew crypto in gambling with the type of crypto I knew at that time-BITCOIN-ETHEREUM AND DOGE-it didn't occur to me to invest-maybe my luck was good at that time-I won some doge in gambling bets, the price at that time was cheap not many people were interested in doge so i decided to keep my winning doge in one of the exchanges, 6 months later I opened the exchange site-of course-I was surprised to see the doge assets that I kept were fantastic.

That's where I felt interested in investing in other cryptos and until now, that's a brief history of my initial investment.

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Quote from: Ryder Kudrow on August 06, 2021, 03:28:10 AM

How did you start investing in cryptocurrency？

Short answer: Bitcoin convinced me to invest in Bitcoin.
I was introduced to cryptocurrencies by an acquaintance and quickly hot interested in them, after having owned a few coins for a while but never really trusting any for a extended period, I eventually picked more interest in Bitcoin. The decentralized network and other qualities Bitcoin possesses compelled me to hold it and actually view it as a currency that will stand the test of time.

After seeing lots of internet scams, Ponzi and pyramid schemes, it was quite difficult to consider holding an intangible asset for an extended period, but the fact that I do not have to trust anyone and can verify anything got me sold.

Rikafip

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Quote from: mk4 on August 06, 2021, 10:27:00 AM

It's really easy to say "if I invest in 201x I could be a billionaire now" if you only look at the price multiplier. But in fact, you likely could've just panic sold when bitcoin dropped from $600 to $200. And especially if you're a beginner with investing at that time, it definitely might have been the case. Heck, even I could've probably panic sold.

+1

I am not a fan of all "what if" thing when it comes to buying BTC as it doesn't make any sense at all and if anything it's counterproductive. In reality, 99% of those that are saying that would invest in BTC when price was in a two digit range of they only knew about it. Same thing goes now, people keep saying "I wish BTC drops to 1k so I can stock up " while majority would be scared shitlless and would think of selling what they have rather than buying more.

To answer OP, I started back in the late 2013 by spending few hundreds of dollars on various shitcoins, naively thinking that its too late to buy BTC. Boy was I wrong Cheesy

. Eventually I realized that in the long run BTC outperforms any other crypto so I focused on DCA and HODL combo that works pretty good.

mk4

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Quote from: Findingnemo on August 06, 2021, 10:15:39 AM

My cousin has been in the cryptocurrency investment for very long and I guess since 2014, but I didn't know the potential of cryptocurrencies at that time, if I started investing by that time then now I maybe a billionaire now. Tongue

It's really easy to say "if I invest in 201x I could be a billionaire now" if you only look at the price multiplier. But in fact, you likely could've just panic sold when bitcoin dropped from $600 to $200. And especially if you're a beginner with investing at that time, it definitely might have been the case. Heck, even I could've probably panic sold.

Furious 7

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So many reasons why I am motivated to invest in bitcoin as quoted above is that it is not controlled by anyone and in making transactions faster maybe that's one of the things I like about this.

Bitcoin has experienced an increase in this decade, even more so than the initial price, I think many are interested because the profits multiply even though they know the price can still fluctuate, so for me this doesn't really matter at all, an investment in cryptocurrencies beat all of them, it's a surprise and can be even bigger.
And many other basics about cryptocurrencies.

cabron

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The idea of freedom from banks and something to leave for my love ones with out them having to mess with lawyers motivates me not just to invest in BTC but to some altcoins.

It feels like I could give them my insights when they learn that I got into a particular altcoin such as defi projects. But most especially profit motivates me the most.

lovesmayfamilis

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My environment, the people I communicate with, are still hesitant to invest in cryptocurrencies. They know the word "bitcoin" and this is where all knowledge ends. It so happened that my activity is strictly connected with working on the network, and unlike my friends, I knew about bitcoin for a very long time. But I started investing only when I came to this forum. I was lucky that my previous job at some time became unavailable, I began to look for information on other resources. Therefore, our failures do not always play an evil role with us. In my case, there was a moment for me to step out of my comfort zone and meet this forum.
And later I realized the full value of cryptocurrencies, in particular bitcoin.

Findingnemo

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Bitcoin = Financial freedom

Quote from: mk4 on August 06, 2021, 04:11:27 AM

For bitcoin specifically, simply because I believe in the separation of money and state. The government has more than enough power, so I'm personally for a currency that no single entity one has control over.

And that's just the tip of the iceberg. Couple in pseudonymity, self-sovereignty, and a solid unchangeable inflation schedule, then Bitcoin is the perfect "investment".

My cousin has been in the cryptocurrency investment for very long and I guess since 2014, but I didn't know the potential of cryptocurrencies at that time, if I started investing by that time then now I maybe a billionaire now. Tongue

pawanjain

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My motivation to invest in cryptocurrencies is cryptocurrency's ability to not not depend on any central authority for making a transaction complete.
The peer to peer payment mechanism will definitely create a revolution in the traditional financial system and this is why it is a must to get hold of some of these coins.
I believe in crypto and the fact that some of these potential coins will become too much valuable in the future and it would be a good idea to accumulate as much as I can.
I have shortlisted a few coins and trying to increase the number of coins in my portfolio every month.

Lucius

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Not to lie and pretend too much, most people invest in cryptocurrencies for profit, and a minority for what @ mk4 wrote. I was primarily interested in the technology behind it all, because I think that Bitcoin is really one of the greatest inventions in the last 30 years - and the only reason why it has not received more recognition from society is that it is completely decentralized - and therefore in the opinion of the authorities something that has no credibility.

One of the biggest reasons why I think it is wise to invest in Bitcoin is the completely uncertain future of pension funds, which will have major problems with the payment of pensions in the future - if they can pay it at all. When I see how the average retiree lives in my country, I do not want to find myself in such a situation if it is at all possible - and I do not want to work for the rest of my life - everyone has the right to enjoy their retirement days. I hope Bitcoin can help us with that.

Taskford

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Quote from: Ryder Kudrow on August 06, 2021, 03:28:10 AM

A year ago I had a friend who talked about cryptocurrency and checked the news about cryptocurrency on YouTube and various websites. At the time, I didn't know what cryptocurrency was and was very skeptical.
In the past few months, I saw a lot of news about profiting from investing in cryptocurrencies, and I also saw a store that indicated that it was possible to pay with Bitcoin.I became interested in it, so I asked that friend to leave the knowledge about cryptocurrency as a hobby investment.
How did you start investing in cryptocurrency？

We cannot erase the doubts on our minds about crypto since we don't know if this is legitimate or not but good thing we push ourselves to overcome our fear to get scam and now we are doing some good business by using it.

And if we talk about what motivates me or us to start investing on cryptocurrency well I can say the huge profit it can possibly generates since unlike any other traditional forms of investment in crypto there's a lot of chances that we can earn huge although the risk is so high but if you know how to handle things and to minimize the risk then we can say that we are doing good so far.

cryptoaddictchie

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When I started crypto its also got me some doubt. But when profits came in, regardless its regulated or not, Im just amazed on how things work on cryptocurrency. From staking, trading, gaming, and different types of money earner is cool. So Ive decided to jump on it too. There are plenty of opportunity on crypto and this is a good decision I made. Motivating myself more to be inclined towards it is a must and a self preservation to a financial freedom.

qwertyup23

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Quote from: Ryder Kudrow on August 06, 2021, 03:28:10 AM

A year ago I had a friend who talked about cryptocurrency and checked the news about cryptocurrency on YouTube and various websites. At the time, I didn't know what cryptocurrency was and was very skeptical.
In the past few months, I saw a lot of news about profiting from investing in cryptocurrencies, and I also saw a store that indicated that it was possible to pay with Bitcoin.I became interested in it, so I asked that friend to leave the knowledge about cryptocurrency as a hobby investment.
How did you start investing in cryptocurrency？

My close friend in college was the one who introduced me to this forum. Apparently, he gave me the idea that it is possible to earn cash online (I was very skeptical about it). When I found out that BTCs can be converted to cash, I immediately read about it and did research about its history, etc.

What drives me more to invest and save my BTCs is its high volatility. Just by looking on its price, you can see the upward trend. Though many people have been trading cryptocurrencies, I see this more as a long-term investment where I would perhaps cash them out 5-10 years from now.

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