Topic: Why did you adopt Bitcoin - Ideology, Technology, Monetary - page 5. (Read 1802 times)
I adopted bitcoin for these three reasons the ideology, technology and the monetary. The reason behind why the adoption of bitcoin for me is an easy decision is because of the advantages that it gives for remittance. The ideology is there for not having to use the bank services with higher fees. The technology makes you transact personally with ease. While for monetary, well back then the transaction fee is reasonable for us to send bitcoin to our family.
I adopted this idea first because i'm enthusiast about new technologies. Then i enjoyed the profit i can make.
I would say all of the above really. Ideology, technology and monetary factors all play a fundamental role in why i am involved in the crypto world. I think Blockchain tech is quite fascinating in the way that it works, the apparent decentralized nature and the sort of anonymity it offers adopters is really interesting i think. Also, as someone who has been following cryto's for a few years, its been really eye opening to see the growth in rate of Bitcoin and how it has actually changed some people's life for the better. When i speak to relatively 'new to bitcoin' folks, we tend to talk about the tech itself and how innovative it is, but ultimately everyone is sold on the idea when you begin to talk about the potential returns on investing.
I adopt three of them in reverse order first i started to do with bitcoin because of monetory of earning and profit i can get from bitcoin then after i stated exploring about technology started explore about block chain technology , Decentrelised database peer to peer Network Finally Ideology low transaction time and cost.
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.
I have adopted bitcoin because of its monetary value, bitcoin has made a lot of people rich and its having the potential make everyone rich everywhere in the world. I don't think that one would go with the idea or the technology as their first priorities and exclude the monetary value out of it. In my opinion, I don't think the idea nor the technology would have worked without the monetary value attached. What I mean in simple terms is that, would you still follow bitcoin if the monetary wasn't attached to it, would love idea and the technology of bitcoin in the absence of the monetary value? How was it going to benefit you if you just like the idea of bitcoin and there is nothing valuable attached to 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.
I first got into it years ago for the technology- it was very interesting and revolutionary. Of course over those years the price has grown exponentially, so I'm also now interested in the monetary aspect of it 
I've never really been involved in the "screw banks" ideology part of it though.
I've never really been involved in the "screw banks" ideology part of it though. 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.
I have adopted for its monetary, bitcoin made a lot of people rich and its having the potential everyone rich everywhere in the world. I don't think that one would go with the idea or the technology as the first priorities and 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.
It was essentially worthless when I started looking at it. Mining was orders of magnitude more expensive than rewarding. As an engineer and computer scientist, I found the technology fascinating. I'm passionate about economics, too, and it proposed some interesting ideas and questions regarding the established economic landscape.
So I gave it a shot. Not a big enough shot, I regret that to this day, but I also did not have any way of doing better at the time. Today, it's much of the same, but with a little more attention to the financial potential, making sure I reward myself every once in a while.
So I gave it a shot. Not a big enough shot, I regret that to this day, but I also did not have any way of doing better at the time. Today, it's much of the same, but with a little more attention to the financial potential, making sure I reward myself every once in a while.
For me it was ideology and curiosity...aka not understanding it but liking how it sounds which was good enough at that time. I'm glad I adopted it when I did but I'm sad I didn't believe in it stronger to not sell some along the way.
For me Ideology, Technology and Monetry are the reason why I adopted Bitcoin. At the very first I'm amazed how blockchain technology can do and the idea of using it worldwide with very fast and anonymous transaction without any help of 3rd party services. And lastly I found out that it has a high potential to get bigger when lots of people consider adopting it and investing on bitcoin can be profitable just by holding it.
If I am to choose, it will be the technology because having a look at the technology that supports bitcoin, it does not cease to amaze me on how something we don't see or touch, could be so valuable, something that I can send from one end of the world, then it lands on the other side with minutes, the fact that no one knows who you are and you are still able to carry out several transactions and to top it all, the master chief in charge of this amazing technology, is no where to be found.
For me, it was mainly: 'Technology'
I can't stop myself from thinking about many areas where the underlying technology (blockchain) is the ideal way to go
I can't stop myself from thinking about many areas where the underlying technology (blockchain) is the ideal way to go
The perspective towards Bitcoin differs but most of the population are here for all the three things. I am here because of the technology which Cryptocurrencies provide. Fast and easy transaction across the globe with a good advantage of anonymity. Easy to buy things and allot better than fiat.
Monetary.
I realize that I may be in the minority here who has no problems with the central bank and centralization in general. It's all messed up in theory, but it has worked for me, and for countless other people. There are checks and balances in place so you can always trust banks to some extent. This isn't to say I'm against decentralization, though. It's better in theory, but it also has clear weaknesses, as evidenced by rather frequent Bitcoin value dips.
The technology behind Bitcoins is certainly a plus, but is not my main driving force. Besides, if you're in this purely for technology, then some altcoins should be more appealing to you.
I realize that I may be in the minority here who has no problems with the central bank and centralization in general. It's all messed up in theory, but it has worked for me, and for countless other people. There are checks and balances in place so you can always trust banks to some extent. This isn't to say I'm against decentralization, though. It's better in theory, but it also has clear weaknesses, as evidenced by rather frequent Bitcoin value dips.
The technology behind Bitcoins is certainly a plus, but is not my main driving force. Besides, if you're in this purely for technology, then some altcoins should be more appealing to you.
Purely monetary at first, I am now highly interested in its advantages (such as trustlessness and decentralization) and I no longer trust private banking institutions.
For me, it is both the ideology and technology, the monetary part comes as an added bonus on top of these two, but if I had to choose between the two, it would be the foundation ideology.
The sheer idea behind a decentralized platform wherein there would be no central governing body which could control things might have sounded ridiculous at first, but putting everything together and creating a flawless system as it is today is a stroke of class which is irreplaceable in the history of this sort of an idea coming through successfully.
The sheer idea behind a decentralized platform wherein there would be no central governing body which could control things might have sounded ridiculous at first, but putting everything together and creating a flawless system as it is today is a stroke of class which is irreplaceable in the history of this sort of an idea coming through successfully.
legendary
Activity: 1358
Merit: 1565
The first decentralized crypto betting platform
In the beginning, I was attracted to bitcoin because of the possible high returns but the more I know about it the more I like the ideology behind it.
Yes, @Wind_FURY, my reasons were primarily monetary but I prefer investing in something that gives me high returns and has ethical roots that I like than investing in something that gives me high returns and it is against my moral principles.
Not only that, I also like bitcoin because of the blockchain technology, which can have many uses apart from the monetary one.
Yes, @Wind_FURY, my reasons were primarily monetary but I prefer investing in something that gives me high returns and has ethical roots that I like than investing in something that gives me high returns and it is against my moral principles.
Not only that, I also like bitcoin because of the blockchain technology, which can have many uses apart from the monetary one.
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.
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 adopted btc because of the money revenue potential it has. I dont have any special tallents or skills so btc is the only way i can provide for me and my family. Tehnology wise it is clear that decentralization is the future and i want to get a front ticket in this journey. I hope we could make it togheter and wont let anyone stop this wave of pure intelligence and wealth for everyone.
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.
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.
Jump to: