Topic: Why did you chose bitcoin? (Read 164 times)

For me, there are a number of reasons so I will just list as many as I can think of right now.

- The system is based on ownership and not debt like fiat.
- Every node has verified every past transaction and will verify every future transaction.
- It's owned and operated by normal people and not trillionaire banks, politicians, and the corporations that have grown up around them.
- The pure number of guesses required to guess my private key requires more energy than exists on earth (2^256)
- Anyone can audit the entire past, present, and future with minimal hardware costs.
- You can't cheat the system because everyone is watching everything and dishonest transactions are instantly dropped from the network. Only truth gets relayed to other nodes.
- The cost to attack the network is greater than the cost to cooperate with the network so there's little to no incentive to attack when you can make more money to just cooperate.
- It's borderless so anyone in the world can participate
- It doesn't require anything but a wallet to receive a payment.
- It will likely create more upward mobility than countless social and charity programs.

In short, it will bring about more freedom, privacy, and prosperity than pretty much anything in history. All we have to do is stack sats and hodl for like 5-10 years and we will be incredibly free. 

A better way to see how strong Bitcoin is since 2009 is seeing a visual chart for "Bitcoin is dead"
https://buybitcoinworldwide.com/bitcoin-is-dead/

Year over year, there are less callings "Bitcoin is dead" because people just realized that Bitcoin won't die. Less people think it will die.

If Bitcoin have been in existence since 2009 without any issues despite the challenges of government toward it, I believe it worth to be trusted compare to other online investment like ponzi schemes.

I choose to Bitcoin investment over any others investment because I believe much on it technology especially how it was designed and how it works. it is decentralized, volatile and it limited supply. And with what I have experienced from Bitcoin investment, I believe much on it level of reputation.

Are there no other questions you want to make on this topic other than to ask why you chose Bitcoin and so on.
Because Bitcoin has proven to be the only asset that can protect value.
Because Bitcoin has a strong foundation that cannot be matched by how many other altcoins exist in the crypto space.
and there are many more reasons why Bitcoin should be chosen as an investment asset.

It's because that it's truly decentralized. No government can control it even though the exchanges and other fin tech companies can be held and controlled by them. No one can control bitcoin's network and blockchain and that's why I've chosen this over any other investments. I've got some altcoins mainly in Ethereum but majority of the rest of the altcoins that I've invested in were failures. And proven the record of bitcoin that even if a lot of countries that have said that it's banned on them, did bitcoin cared for it? Well, the community didn't cared and worried of it even an inch and it just keeps on recovering no matter what FUD and negative news was in the market. It's actually bound to go to the top, thanks to halving and limited supply which makes its great attribute for being scarce.

Among other things we could say bitcoin pass the description of decentralization whereas it really shows how it is being described. Some consider bitcoin as investment some arent. But thats how we can say it gains its value. If you compare it to altcoins, youll see a big difference, apparently altcoins are advance in terms of innovation and tech used than bitcoin now, but being stable in concept? Well bitcoin really did well.

Bitcoin has proven to be a strong investment. If you have been following it from the start until now, you would know its strength as an investment.

I would like to share this with you and suggest that you analyze it yourself

https://99bitcoins.com/bitcoin-obituaries/

Many times people have panicked, thinking that Bitcoin will soon die, but look where we are now. It has been growing, though not on a consistent basis. However, if you look at its long-term movement, you will be amazed at how successful it already is.

I trust Bitcoin today simply because Bitcoin was able to prove itself as a digital currency worthy of trust ever since it got launched in 2009, unlike the many Ponzi schemes that have come and gone scamming people of their hard earn money.
Secondly, Bitcoin is trusted today simply because it has proven itself to be the safest place to save our funds for the future in it, that has great potential of going either 10x or 20x, far better than what banks now offer as  investment rate (i.e 5 to 15% annual investment profit)

Bitcoin has yet died since 2009 when its genesis block was mined by Satoshi Nakamoto.

However we can not conclude that in future, it won't die. We can believe it will not die but life is full of surprise and black swan event can happen after a few decade, a century like how the world has a 1918 flu pandemic and nearly one century later it had a Covid-19 pandemic.

Don't use money you can not afford to lose to invest in bitcoin and hodl it.

What if some time Bitcoin will actually die?
https://99bitcoins.com/bitcoin-obituaries/
https://buybitcoinworldwide.com/bitcoin-is-dead/

I am a bitcoiner guys but I have a safe plan for my life.

All the investment opportunities or scam schemes you have talked about are still possible with other currencies. Bitcoin is just used or used like any other currency, anyone with a little bit of common sense can not blame the currency they used in these schemes. They can use paypal or other e-money to take payments for their scheme.
I trust bitcoin because I trust the technology and the way bitcoin works. I can truly control my money with bitcoin when I have to pay huge amounts of taxes for the fiat I hold. I can send or receive money without any trace. There are many things why people trust bitcoin.

The background why people believe bitcoin is an advantage that other investments don't have, there are still many people today who don't believe in bitcoin. The trust I mean is based on the power of bitcoin that can bring someone to the investment stage. Decentralization and the total supply of bitcoins are very limited, this also makes bitcoin have an advantage, so that the strength of maintaining investment value in the long term is guaranteed.

There are many advantages that we find in investing in bitcoin and this is not found in other investment concepts, the level of price fluctuations is never separated from the journey of bitcoin and trust in bitcoin must be based on the benefits it offers and that is why many people trust bitcoin.

First and foremost, bitcoin is not a ponzi scheme. It was created with the good intention of serving as an asset and, in some cases, legal tender. Additionally, it was the first cryptocurrency in existence and has earned a great deal of trust. As you mentioned, bitcoin had nothing to do with finance in 2009, but as time has passed, it has gained more traction than other cryptocurrencies. I trust bitcoin more than other cryptocurrencies because of the widespread awareness it has received, even in this forum. i trust bitcoin compare to altcoins which might not really survive in bear market like what happened  to FTX.

because its value has gone beyond its early days price, when it was not even worth a cent. Satoshi created Bitcoin as an open source for everyone to take control of their funds in a digitalized approach instead of leaving our funds in the hands of financial elites, and today the Bitcoin price has skyrocketed and demand is so high compared to 2010 and 2021. Bitcoin still has a lot of years of halving left. Bitcoin still has more ATHs to come. All these reasons are why I chose Bitcoin, and I also fell in love with Satoshi's idea of being in total control of my funds, which is why I chose and will still choose Bitcoin over every other crypto. Investing in other assets without investing into Bitcoin is a risk for me.

OP, people invest into Bitcoin, I mean a lot of people! but majority of these people still have others investment.

As a newbie I could not be convinced into buying shitcoins because I was fortunate to have the right information early in my crypto journey. Even though I bought my first Satoshi two years ago, I believe bitcoin is still in early stage and has a long way to go before it can become mainstream as a truly viable alternative for traditional currencies, bitcoin has not reached its full potential and until then the price will keep going up. That’s why I hodl.

When you ask me why do I trust it, I'll ask you why shouldn't I? When you're investing your time and money into something and that thing keeps giving back every time, you get used to it and attached. You treat it like something familiar to you, a part of your life. At this time, if bitcoin went to a million dollars I still wouldn't get rid of it. I know I'm going to be a holder as long as bitcoin exists. It gives so much benefits and security that even if I spend some of it, it's never going to be all of it.

The answer is simple. I chose it because it promoted values that I care about like privacy, having full control over your money, not being oppressed by the government who can threaten to freeze your accounts. I bought it because I felt it could be worth much more and I wasn't really into making a lot of money but I didn't want to lose it. Since I made money on this investment, I appreciate and value bitcoin. Bitcoin is a part of who I am financially and politically. IMO 10 years from now politicians will use it like a trading card. There are many such slogans that people are always for or against like abortion, or capital punishment and bitcoin is becoming one of them. You'll say you're against bitcoin you'll lose a lot of votes.

Good question, maybe you will get assumptions and also different people's points of view, but we assume now why we are more interested in choosing Bitcoin. Bitcoin has been around for a very long time and has had a progressive reputation over the years, and in fact it was the right choice because Bitcoin is decentralized, and the level of risk found is unlike any other. besides, the level of popularity of Bitcoin is already very popular and worldwide in various countries.

You are right mate,and I'm with you on this one.Bitcoin has changed so many lives,and I don't think without Bitcoin,I would have been like this.BTC has had so many positive impact on my life and I don't think I can ever switch it to any other source of money.When I first started Bitcoin,I felt I was just wasting my time and energy,unknowingly to me that there were several things I didn't know,and uptill now,i've not known all about Bitcoin.But when I continue to make research about what I was doing,It was then I understood what Bitcoin is the king,that Bitcoin has the capability to change one from grass to grace,it was also then I knew i wasnt on the wrong  path.I got involved into it,and I can recommend anyone to switch to Bitcoin now,and there lifes will never remain the same.

For me, there is no exact answer to choosing Bitcoin as an investment. But what I need to say is that Suddenly I was involved in crypto in 2017 and I started to love crypto. Since that time I love to use/hold crypto. But why the Bitcoin getting more trust than other cryptos? Of course, I have to say Bitcoin is the king of crypto and it's more stable and has potential than other altcoins.

I no longer need to answer why I believe in Bitcoin so much and make it a long-term investment asset because many of my friends here have all answered what I have in mind.

To me trusting Bitcoin is like I trust myself.
That's the answer.

The world now is now driven by technology, and everything is becoming digital.

We make physical investments and profit from them, but we also fail due to a lack of trust, which is mostly influenced by third parties.
Some of us get involved in Ponzi schemes due to a lack of proper knowledge, whereas gambling is done for fun, even though some people become addicted to it.

The entire Bitcoin process is transparent enough for everyone, and Bitcoin provides us with financial freedom in that we can now conduct our transactions without the involvement of a third party, and there is nothing unclear about the entire Bitcoin process. Given how far Bitcoin has come and the rate of adoption that is increasing on a daily basis, it is clear that there is a future in Bitcoin that no one will want to miss out on.

My answer is because of its decentralization. If bitcoin was just like any other project that would fail then we wouldn’t be here today after all the troubles from the government.

The ability of bitcoin to a store of value is also of great importance of why I choose bitcoin. In the past it was very hard to do cross boarder transactions or international without the hurdles of the bank but it with bitcoin it is a smooth move. Although there’s the bitcoin volatility but it is much better than the inflationary volatility faced by the fiat currencies.

This forum continues to give me alot of reasons to trust Bitcoin and aside from this, I have gained alot to know Scam project and this is among the things I'm greatful for this forum.

I have always avoided any investment that promises instant or huge profit. Bitcoin unlike other crypto investments suits my belief that any business that promises instant money doubling is a scam. Bitcoin promotes the virtues of patience and bravery. Bitcoin has also been consistent for a long time. Many cryptocurrencies have been created and within a few years they disappeared from the crypto space. But bitcoin has remained in existence since it was created. Everybody wants to be associated with the number one or the champion of any industry. Bitcoin has remained the number one cryptocurrency and I want to be part of the winning team. I am also attracted to bitcoin because even in the face of attacks and unfriendliness by different governments and financial institutions, the coin is still growing stronger every day. The selfless and humble nature of the creator of the coin is proof that it was created to for selfish reasons but to give the world privacy and freedom.

Firstly it's not quite right on this board because you don't discuss about help or beginners so it's better to move it to the bitcoin discussion board.

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It's quite simple why we chose bitcoin as a long-term asset because it has a limited total supply, a value that continues to increase due to increasing demand and supply and many more where the reason for choosing bitcoin is of course financial freedom that we can control ourselves without anyone control anything.

Now bitcoin is becoming a more important asset in the modern era, being able to beat other assets, of course we have to be aware of its fast growth and high risk, but with volatility there are still many who believe in bitcoin.

Bitcoin has a progressive reputation that built through the years. I’m a doubter too on Bitcoin the first time I saw it due to its high volatility that is much worst than current condition due to limited liquidity.

Bitcoin liquidity is now huge since many people already trusting. This is the result of converting non-believers to believer every time Bitcoin defeat the bear market multiple times for every 4 year cycle.

More than a decade of continuous price growth and unwavering decentralized feature of Bitcoin gave high confidence to all holders to trust more Bitcoin as time passes by.

Long before now, many of us must have engaged in different failed financial projects like investment companies, ponzi scheme, gambling, betting and loto. Most of things give people hard experience to trust any system. People fails in wonder banks, in digital gold and crude oil, when bitcoin first came in 2009 nobody believe the project probably because of failed financial portfolio they've experience and witnessed but now out of 100% of people, only few percent do not trust the system still.

Why do we have this so much trust on bitcoin that it not die easily? That bitcoin is a long term investment with confidentiality. Why do you chose to trust bitcoin over any other investment?