To be honest, I am impressed with the technology and possibility of it. Yes, I do speculation too as I think, being an early adopter you get the benefit of multiplied returns in the long run and as of now, this technology is in the beta stage in my opinion.
The world is getting decentralised in terms of business, politics and in every possible way so making it decentralised financially and that too without the support of any authority or controlled group of people is really a drastic move and I see tremendous possibilities with it in the coming decade.
Topic: Why did you adopt Bitcoin - Ideology, Technology, Monetary - page 3. (Read 1802 times)
I adopt Bitcoin for Monetary purposes. Since I am still on a lower rank, I think that will be my goal for now. But the more I engage in discussions and learn about bitcoin, I think it will shape my ideology little bit, time by time.
I adopt the use of bitcoin because I am interested in the technology it has. I really like peer to peer, crypto, security. Besides, I'm tired of using credit and debit cards.
The ideology behind Bitcoin
Monetary
The monetary aspect is profit. Adopt Bitcoin for making money. I do believe that a good number of recent investors/speculators are in for money only. Leave aside ideology, even a few doesn't bother about the technological aspect. Nothing wrong in it. It is like a get-rich-quick-scheme.
So why did you adopt Bitcoin?
Monetary
The monetary aspect is profit. Adopt Bitcoin for making money. I do believe that a good number of recent investors/speculators are in for money only. Leave aside ideology, even a few doesn't bother about the technological aspect. Nothing wrong in it. It is like a get-rich-quick-scheme.
So why did you adopt Bitcoin?
As you say, bitcoin is an innovation for investors. The number of people investing in the crypto market is increasing because of the large profits it brings. And of course I care about it for profit. You can make more profits and double your assets quickly.
sr. member
Activity: 378
Merit: 278
Bitcoin :open immutable decentralized global fair
Ideology coupled with Monetary.
With bitcoin being an effective TRUE savings vehicle, it simply translates to financial survival in the global system of worthless fiat currencies.
With bitcoin being an effective TRUE savings vehicle, it simply translates to financial survival in the global system of worthless fiat currencies.
The ideology behind Bitcoin
So the fundamental ideology is a decentralized trustless system to create an economy not dependant on governments/banks, empower repressed economies, disrupt or weaken the centralized monetary system, and economic freedom.
Something like what John Holloway said, "Changing the world without taking power."
I think majority of the early adopters were motivated by this philosophy, price wasn't a criteria.
The technology behind Bitcoin
There is no denying the fact that Bitcoin/Blockchain technology is revolutionary. It is here to stay. We will be seeing more use cases of it in future. The first distributed blockchain was conceptualised by Satoshi Nakamoto and was implemented as a core component in Bitcoin and thus making Bitcoin a technological tour de force.
Technology is one of the major reasons for Bitcoin adoption.
Monetary
The monetary aspect is profit. Adopt Bitcoin for making money. I do believe that a good number of recent investors/speculators are in for money only. Leave aside ideology, even a few doesn't bother about the technological aspect. Nothing wrong in it. It is like a get-rich-quick-scheme.
So why did you adopt Bitcoin? There might be a reason or a couple of reasons or all the three.
Edit: Added all of the above.
One of the major reasons for me adopting Bitcoin was mainly investment returns, the investment that i could have made in 2013-14 would have give me about 50x return, but unfortunately i dint have that kind of money back then. ( The story - bitcoin was at around 56k INR, I had hardly 20k cash lying around, din't know much, ended up not investing, Later on Regretting about it Quote
The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve. We have to trust them with our privacy, trust them not to let identity thieves drain our accounts. Their massive overhead costs make micropayments impossible.
With e-currency based on cryptographic proof, without the need to trust a third party middleman, money can be secure and transactions effortless. - Satoshi Nakamoto
With e-currency based on cryptographic proof, without the need to trust a third party middleman, money can be secure and transactions effortless. - Satoshi Nakamoto
Quote
The Times 03/Jan/2009 Chancellor on brink of second bailout for banks - Genesis Block
So the fundamental ideology is a decentralized trustless system to create an economy not dependant on governments/banks, empower repressed economies, disrupt or weaken the centralized monetary system, and economic freedom.
Something like what John Holloway said, "Changing the world without taking power."
I think majority of the early adopters were motivated by this philosophy, price wasn't a criteria.
The technology behind Bitcoin
There is no denying the fact that Bitcoin/Blockchain technology is revolutionary. It is here to stay. We will be seeing more use cases of it in future. The first distributed blockchain was conceptualised by Satoshi Nakamoto and was implemented as a core component in Bitcoin and thus making Bitcoin a technological tour de force.
Technology is one of the major reasons for Bitcoin adoption.
Monetary
The monetary aspect is profit. Adopt Bitcoin for making money. I do believe that a good number of recent investors/speculators are in for money only. Leave aside ideology, even a few doesn't bother about the technological aspect. Nothing wrong in it. It is like a get-rich-quick-scheme.
So why did you adopt Bitcoin? There might be a reason or a couple of reasons or all the three.
Edit: Added all of the above.
) sr. member
Activity: 378
Merit: 278
Bitcoin :open immutable decentralized global fair
Interesting discussion here.
My reasons for investing in Bitcoin are monetary, and I believe the "adopters" who came in after 2013 - 2014 are chiefly attracted to it for the same reason.
There is no need to lie. You are all here because you also believe in the large monetary rewards that we could possibly get by investing in Bitcoin. Admit it.
Reality it is I must say. We don’t have to hide ourselves of the factor that we all are here just to earn money. You are so true we don’t need to say it hesitantly rather it is truth. We didn’t know about bitcoins, we got to know the monetary aspects of it, so we got attracted.There is no need to lie. You are all here because you also believe in the large monetary rewards that we could possibly get by investing in Bitcoin. Admit it.
I agree with you. For three reasons. It's not independent. But making money is much more important to me. I can not lie in this matter.
I don't think investors should get too attached to any investment. In my view, bitcoin has a long way to go before the cryptocurrency bubble bursts, but that time will surely come. Bitcoin has value for the freedom it promotes and as a form of money.
Bitcoin are unique technology that ever been made so people using bitcoin to make their transaction easier and cheaper than fiat
Unfortunately, our government still forbid bitcoin usage because it can be use for criminal activity but for me personally, bitcoin is a future of transaction
Unfortunately, our government still forbid bitcoin usage because it can be use for criminal activity but for me personally, bitcoin is a future of transaction
I agree. What really drives me into Bitcoin is the freedom over your finances (your bitcoins). Like they say, the only one that you can truly trust is yourself and by Bitcoin we do not need anyone who holds our bitcoins like bank since we can be a bank of ourself as long as you control and store you keys safely then that's it.
My reasons for investing in Bitcoin are monetary, and I believe the "adopters" who came in after 2013 - 2014 are chiefly attracted to it for the same reason.
There is no need to lie. You are all here because you also believe in the large monetary rewards that we could possibly get by investing in Bitcoin. Admit it.
Reality it is I must say. We don’t have to hide ourselves of the factor that we all are here just to earn money. You are so true we don’t need to say it hesitantly rather it is truth. We didn’t know about bitcoins, we got to know the monetary aspects of it, so we got attracted. There is no need to lie. You are all here because you also believe in the large monetary rewards that we could possibly get by investing in Bitcoin. Admit it.
initially i was not interested in bitcoin ,, and did not know about bitcoin ,, after i know and learn bitcoin, i start to think that bitcoin is one of the transaction model that its currency value is much bigger in compare with other currency value ,,
so I think that if the economy is later in a monetary crisis, then this bitcoin will continue to survive with the note bitcoin and its ICO is able to give an opportunity to divide its bounty ,,, so that will be many people who are interested in bitcoin ,,
so I think that if the economy is later in a monetary crisis, then this bitcoin will continue to survive with the note bitcoin and its ICO is able to give an opportunity to divide its bounty ,,, so that will be many people who are interested in bitcoin ,,
I got inspired by the technology on which it is based and this fascinated me and got me in for this currency. Initially it was not that much lucrative but once I started undertaking and its power then it got me into it and I realized the importance of virtual currency and the money making opportunity as well.
I adopt bitcoin because of the three given reasons. At first, it is only because of monetary, the time I am introduced to bitcoins, I am in really need of money and it really helped me. As my experience in bitcoin is growing, I have realized that the technology of this bitcoin is great as it serves as an online currency worldwide (hopefully), and if this bitcoin would be the worldwide currency then it is a big step for the economy of different countries.
It's hard for me to make a choice. What you make a choice between the right and left hand? I need both hands. The more we can use the advantages of bitcoin the more we will understand his importance to us. Everyone can find benefit for themselves in using bitcoins.
I will focus more on the technology of bitcoin because that is the key for our world to change because if we are going to focus on the technology of bitcoin and implement it on the system of our world then it will help our world to change for better and get best results specially in financial system and bitcoin will not disappoint us because it will surely a great help for the world.
Ideology is just a motivation, and the price is only bonus. What makes bitcoin more expensive because more people use it. It's because easiness of doing transaction with bitcoin. It's because the tech. I use bitcoin because i'm impressed with the tech it has, and it's first time i know about fintech
my reason is The technology behind Bitcoin because no one hack it till now
I adopted bitcoin because of its excellent technology. Privacy, decentralized, and not easily traced and easy to transact between countries make me fall in love with bitcoin. One more, I adopted bitcoin also because of its high selling value.
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