Topic: Why i believe in bitcoin!! An amateur's outlook. (Read 537 times)

Despite the current price, bitcoin will become more valuable year by year. We can see that the adoption of bitcoin over the years has skyrocketed because of its price when it hits its ATH. Bitcoin caught the attention of the public because of its high price. Strong faith has mostly been measured at this time because the price is so low; this happens every year when the price of bitcoin drops, and you can see a lot of newbie investors crying on social media. So the question is are you one of them?

Yes, I think Bitcoin is currently a financial product. It can be part of your beliefs, but not all. You can’t put all your energy and assets on BTC. The price of BTC is still very unstable now. You need to consider your own investment attributes, whether you want to hold for a long time, or run away after making a short-term profit, you should treat it rationally.

Yes, it is very wise to do so. As one is not going easily to change what he believes in, it is very good that you are going in just by very little bits.

BTC is a perfect separator. It moves money upwards on the IQ ladder.

Believing in Bitcoin and being hopeful about it is that people see the benefits and really realize the benefits of Bitcoin. Over time, most people started to have strong faith in Bitcoin and believed that it would get stronger and stronger.

Well, society evolves based on its own law which human beings can not stop or alter. Currency is only one of the fundermeantal elements that constitute whole society. Super-convenience is one of the most important characters that any Currency has. As time goes by,  Bitcoin will be much more convenient and easier than any currency nowadays.

If we speak about bitcoin then altcoins can never influence it but on the other side altcoins are easily effected by bitcoin rally upwards and downwards giving boost to those coins but they all are out of market soon with founders taking out their share of profits.How many coins we have seen in the last five years period only and now they don't even have some value to provide you with some profits or even some dollars also? But the bitcoin growth is stagnant and has provided long term holders return always.So make best choice with bitcoin if you know about it.

1BTC == 1BTC. If you don't need your assets immediately you always need just to wait until bear market is over. As a deflationary asset Bitcoin in the long term and in general will grow up, it's volatility will be lowering and lowering. So it is a good asset to save your holdings from inflation but hopes on earning will disappear in time. And that's why it is so promising that 1BTC is always 1BTC.

That's a good advantage to be one of those early adopters of bitcoin. You can buy btc at cheap and you already made good amounts of profits from the past bull runs. What you said about expectations is true. I've seen so many people who get disappointed because the more they expect the more the price falls and maybe most of their expectations are too much already.

There is no way btc can achieve that in a short amount of time but if you expect less then expect that it will be granted easily and you will feel more happier this way. 70 percent drop in price looks scary but we should hold on and think about the past performance of btc. That should help us stay in this battle.

If you have lots of questions, why not research the answers to your questions, this way you will be enlightened and will not get easily persuaded by fake news and fake facts about Bitcoin.  Not paying to much to true information may mislead us into believing something that isn't true about Bitcoins.  Learning is an essential thing, don't get lazy about it.

Bitcoin will definitely rise again and that's certain.
You've learnt so much already and now you need to do things with more caution and try not to be lured into over hyped alt- coins that rises over night and falls back too.
Bitcoin is still very new and tender as compared to other digital assets and not believing in Bitcoin is not believing in the future and I'm glad to know that you believe in the future (Bitcoin).
Welcome to the future.

If you want just to earn something on some asset you first need to learn trading or investing, learning about an exact asset is a next step. If you want Bitcoin be that asset you want to trade or invest it can be a good choice, but Bitcoin itself is much more then just that. If you'll learn Bitcoin as itself you'll see that it is something influencing the world and giving lots of opportunities from which being as asset for trading or investing is a tiny part.

That is something only the smart people will understand when they check it. Reality is that you have to understand the price will always recover and will always crash, it is a cycle and if you take advantage of the crash, then you will profit from the recovery.

Not many people can do it, and I know it could sound shocking to many people here, but I have seen MILLIONS of people who sell when the price goes down. That is counter productive I know, and it is something that will make you lose money and that is why you should not be selling when it's going down, it's wiser to buy when the price is low like right now but only people like us know what is right and what is a mistake.

What are these questions, you can surely share them on the forum for valid answers from member's that probably have more understanding about BTC than you, if i may guess i think you are only concerned about BTC's price which is still volatile, and that is probably what is raising questions in your mind, but BTC is well more than only its price, it is a useful currency that functions in a very unique and decentralized way, very secure and efficient too, there are many more, but it is much better you share your exact questions for exact answers.

There are so many unexpected turns of events when it comes to bitcoins and most of the time people are fine with it because they already know the reasons why the bitcoins price acted in such a way. The sudden increase in the price is one reason why people are still investing in it and most of the time they won't care about the price drop because they already know that it will gonna rise after months or years and sometimes a few days have passed. The only problem is when those newbies are investing the money they can't afford to lose. They begin to rant whenever the price of bitcoins in the market begins to drop. Because they won't gonna get their money back as soon as they want.

You don't have to invest lump sums to be an 'avid' investor, if the small amounts you invest is what you can afford to lose then you are investing in the correct way, you are also looking at the long term and not to get rich quick, i believe you are going about your BTC journey well. BTC goes through a cycle that we all can see, so if you are truly willing to wait, it will surely 'grow to that respectable sum you talked about'.
I have not noticed this, i don't think centralized governments are all that interested in BTC for now, neither are they doing any transactions with or through the coin, only two countries have made BTC a legal tender and while it is still legal to trade and use BTC in most countries, they are trying to regulate it, while some want to ban BTC mining and push us to a centralized POS algorithm, so do not trust governments to like BTC just yet.

I didn't get a good enough explanation about why do you believe in Bitcoin. So you believe in Bitcoin only because the BTC price didn't drop against the US dollar? Many assets are performing good against the US dollar. Gold also didn't drop against USD, does that mean you believe in Gold?
I understand that you are a newbie and you are taking your first steps in the crypto world. Everyone in this forum was a crypto newbie in the past. Just don't get too romantic about Bitcoin. BTC is a financial asset just like any other financial asset and getting emotionally attached might lead to making financial mistakes.

Bitcoin wins over other currencies, including other cryptocurrencies,
this is because most of the supply is fixed. The main advantage of Bitcoin is its ability to limit new. In particular, the supply of Bitcoins cannot be manipulated, nor is there an alarm of 21 million units.

that's what makes bitcoin always superior to other crypto, even fiat currencies.

That's right, the stronger the volatility, the bigger the returns. You reduce risk by staying in Bitcoin, but you may have a hard time predicting in the short term. Meme coins and shit coins are also hard to guess. The question here is how much risk you can take. For example, you invest in Bitcoin, but Bitcoin goes down but you know it will come out again and you will be affected accordingly. But after the drop in meme coin and shit coin it is very difficult to come back, maybe it will be completely reset. The risk you take here is important.

I have been around since the Bitcoin price was just over $300.... and I can tell you from experience that Bitcoin can surprise you, when you least expect it. Bitcoin has seen several huge price fluctuations, where it dropped with 70%+ and then it recovered with more than 200%....so volatility can be extreme.

So, if you just look back at the price history of Bitcoin, you will have a reason to be positive and optimistic about it's future. Stay strong and Hodl like crazy. 

Difficult to guess here could be the volatility of bitcoin price, bitcoin is both volatile and almost unpredictable in the short term, I also like investing in bitcoin because of its volatility, the stronger the volatility, the bigger the returns.

Both bitcoin and shitcoins are unpredictable but investing in bitcoin is safer, bitcoin can plummet but it will recover eventually, with shitcoins being rare and they tend to die more.

Ops you have done well by building this body of knowledge around Bitcoin and raising your confidence level for Bitcoin to the point you are ready to hold your Bitcoin investment for a decade.
And also I commend you for choosing to have schooled yourself with various aspects that aid Bitcoin holding such as wallet and exchanges, but lastly, my advice will be.
Don't have so much dependent on news and fud who are saying Bitcoin will deep on price further than what it is right now because that is the sure way to breed fear that can lead to panic sell, so I advise you to build your confidence more because that is what will sustain you whenever there is sudden price reaction.

If the reason you choose a coin because the price is very difficult to guess, you're wrong to choose Bitcoin. Shitcoins and memecoins is the most harder to guess the price since no one can know when the developer want to manipulate the market and when the coin will become a dead coin. Of course I don't mean to encourage you to buy shitcoins and memecoins, but I just saying the reason you like Bitcoin because of the price is difficult to guess is wrong.

Actually most users seems already predict Bitcoin price will increase after 4 years cycle.

It's true as you say it's not too late to invest now, because we have to take the opportunity to buy bitcoin when the price goes down, because we learn from the bitcoin price in previous years when the bitcoin price shot up all regretted selling bitcoin early and couldn't wait to hold bitcoin longer, I personally like bitcoin because the price of bitcoin is very difficult to guess, I have also felt the peace of holding bitcoin, patience is needed for people who hold bitcoin.

Your question is good but in this modern civilization who still can't trust Bitcoin is nothing but a fool. If you compare Bitcoin 10 years ago to Bitcoin today you can see how much Bitcoin has changed. And how popular Bitcoin was when it was first in the market and how popular it is now. These are only possible because of people's faith and trust in Bitcoin.Now people believe that Bitcoin is our future asset. You will notice that Bitcoin is being legalized in almost all countries and all major countries are interested in doing transactions through Bitcoin. They understand the use of Bitcoin.You yourself will understand the use of bitcoin one day but do it as soon as possible because very soon all countries will be using bitcoin and then you will call yourself a fool just like now the people who believe about bitcoin are calling themselves fools. If they believed in Bitcoin 10 years ago and knew about Bitcoin, they could have profited a lot today.

Bitcoin is a new concept of financial order, free and human, and my trusted long-term investment hard currency.

Most of the users experienced it. During the year 2017 it was a learning, because the market bounce happened when no one is expecting it. Whenever there is something negative in the market, people come up with the decision that bitcoin have died. This is common and this was much felt during the end days of 2018 as the price fell low close around $3500 from the price which was around $21k an year back. Beleive and surely you'll be profited.

I guess after the crash of 2017 most people started to have strong faith in bitcoin, back then there were very few people who believed bitcoin would go as high as it is today. I know bitcoin 2014 myself, bitcoin price then was $300, but I think bitcoin is just a ponzi scheme and sooner or later it dies and the crash of 2017 was the most horrifying accident I have ever seen. But then bitcoin recovered and hit a new ATH, my faith in bitcoin really changed. Can say I am willing to bet someone if they say bitcoin will never rise again. I am very sure about the near future of bitcoin.

Those which only focus on the price have it backwards, which help us to explain how those very same people eventually decide to invest in shitcoins as they believe price is everything, then they get scammed and become one of those people which claim that bitcoin is a scam as well or something ridiculous like that, the value of bitcoin as you state comes from its utility and its network effect, which as times passes is only getting stronger.

Those who previously did not believe in bitcoin or who are new to bitcoin, sooner or later finally have the desire to get involved or get to know bitcoin at least its functions and benefits for the long term after history proves.
and what you have to instill in yourself to get involved in bitcoin is trust, because without trust you will hesitate and get stuck in the journey and believe that bitcoin will be profitable in the long run. And just remind you to make purchases with money you can afford to lose and if you only believe in bitcoin do and keep learning like diving while drinking water.

To see the situation in general you need to learn enough about Bitcoin and it's technical features from one side and basics of economy from another side. But mostly people are just following popular trends so IMO the situation with dichotomous attitude to Bitcoin based on bear or bull rally will last as long as Bitcoin will exist.

On the way of bitcoin to its peaks and overcoming the next ATH, there will be an incredible amount of fud during the fall and subsequent exclamations of buy, buy when the next rise is reached, so this is a two-way road and the number of supporters and opponents of bitcoin grows and falls synchronously with its course and here faith really acquires value.

If we talk about the nearest future then definitely BTC to USD rates will go up and down multiple times. But if we look forward to the distant future I'd say that we'll see different new financial systems some of which will be better then Bitcoin and replace is one day as nowadays Bitcoin gives an alternative to an old bank system. So someday in the distant future Bitcoin will fall but it is not a problem, it is a blessed promise of non stopping Scientific Revolution.

Literary every time there is any kind of drop, a lot of cockroaches crawl out of their holes to say "bitcoin is doomed". Interestingly enough there is more of them when we are at the bottom and during accumulation phases.
In any case you should "trust" bitcoin because of its technology and utilities not because of its price. In fact the only reason why price holds and in the long run keeps going on is because bitcoin offers a very unique utility that nothing else in the world does. A decentralized payment system that can not be censored.

If you follow this strictly and do not touch your assets until decade ends then mate you just got yourself nice house alongside a beach with lambo parked up front.

Though that's too much of saying but hey it's bitcoin and we are here because we know it's potential since the beginning. With the current situations around the globe it even pushes us towards more decentralized assets to stay away from restricted economy during the recession.

A decade is lot of time, but you pass the period you gonna get sweet fruits for sure.

Newbies often claim so, after learning about bitcoin but I doubt he will be able to hold btc when bitcoin hits $100k in 2025 without selling it. It's easy to say but to do it I don't think many people will do it or it will happen if they forget it, as investors, we will not be able to control our emotions if it falls too much as well as when the price rises significantly. If he buys from this price and holds until btc hits $100, there will be x5 profit, which is huge profit. If I was in that situation, I would sell my bitcoin and wait for the market to drop, I would buy it back and that's what investors are doing.

But sooner or later they would really be able to realize on whats the overall utility and benefits on Bitcoin does have.Its impossible for you to ignore such thing specially you've been dealing with it actively.

You would really be that be aware on how it do works or its utility which its impossible for you to ignore out.It would really be just common sense that you would need to study on all about on things
that you've been dealing with.

As a newbie,as you do gain up experience then you would eventually able to realize lots of things.

That's why people like OP is the one must be a model to other people too especially for that user who are just starting to explore or to introduced to Bitcoin.
Common problem right now with people that starting to introduced with Bitcoin are they are just here because of investment, they even don't know how Bitcoin works, because on their mind is only money and greed. We cannot blame them, but I'm just saying that it is not a good practice.

I first learned about Bitcoin in 2013-14. I was a clueless teenager back then, with no access to exchanges or a way to acquire Bitcoin. Admittedly, I was on the scene relatively early, seeing that it was worth as little as $200. Honestly, I've seen Bitcoin plummet and recover numerous times, and especially after the large market crash in late 2017, I'm more confident than ever. As long as you're patient enough, you'll have a good chance of making a successful investment. Also, don't compare Bitcoin with fiat currencies, it's no use. While they're both currencies, they share very little similarities. It'd be more sensible to compare it with gold rather than EUR or USD.

Welcome to the Bitcoin world. I wish you the best.

Your not wrong to have a firm hope in bitcoin. Still u wouldn't compare bitcoin with Yen, Euro and other stocks out there. Bitcoin is unique and even in the crypto world being the pioneer cryptocurrency from which all alts sterns from. The value of bitcoin cannot be over emphasised and the fact that it continues to defy all odds the government and the critics have set against it projects it for how long its willing to stay.
Regulations remains one of the chief issues with the government else tbu don't deny it for being a currency with some good standards.

Well, we all have reasons why we are here and why we believe in Bitcoin. But there is one thing in common and that is because we see Bitcoin as a profitable investment more than any cryptocurrencies in the market. Honestly, interest has been built up upon seeing on the news, social media ads, and of course, coming from the forum. I know doubts are what we feel at the start but it has changed as time passes by.

I would say good to you who see it as an opportunity but I have to say that never consider this as a forever asset.

when people say bitcoin will fall, that's where people / whales are competing to add cargo so they can go to the moon in peace in their time,
one thing is natural if they blaspheme bitcoin when it is falling, but with our faith and the strength of our hands,  one day bitcoin will return to its highest point, just need patience

Don't only believe bin bitcoin, work out your bitcoin in it, make it seen and practice what you've learnt so far with the digital decentralized currency, bitcoin comes with divers opportunities in it if you consider ever it was launched, the years so far and the record should be your own personalities to result on whenever you're loosing hope that the further expectations could come just as always wanted to have them with bitcoin.

You're probably going to need to convince yourself more if what convinced you is bitcoin's recent performance. If you've been into bitcoin long enough, you'd know that things can easily go south even if doesn't make sense to do so.

If to consider Bitcoin only as an investment asset you can believe it will grow or not to believe in that. But Bitcoin is much more than just an investment asset, it is an idea of returning of control on own money, it is an idea of automated decentralized decisions working for financial markets (instead of old bank system) and then for many more social or governmental systems. And if we look at Bitcoin with a larger angle we can see it already gave us lots of opportunities and will work for better future non depending on the BTC/USD rates.

OP from your point of view I can see that you cherish Bitcoin and you are also a good investor for you to invest on Bitcoin for a decade. You will reap from the fruit of your labour because its a long term investment but I hope you don't get discouraged later to sell your Bitcoin Holdings.

A time will becoming when Bitcoin price will shoot high and so many investors will keep their Holdings.

No amount is too small or big in Bitcoin investment, the important thing is that you have invested and have some MBTC. People that says Bitcoin will die are those that don't understand Bitcoin concept. In all cryptocurrency, Bitcoin has survived and spread rapidly  amongst other no matter the economy challenges the world is facing.

That is the standard response people have to anything that is new and they do not understand, and while they had been right about some of those new inventions and those inventions did disappear, they have also been wrong about technologies that changed the world.

A few examples of this are cars, electricity, television, the Internet, computers, smartphones, video games and of course bitcoin, technologies which the average person did not understood and claimed they will disappear, only for those technologies to eventually form an integral part of our modern world, as such as long as we see potential in a technology we have to follow our own instincts and avoid doing what the majority of the people do.

You should only Trust or Believe in the Perfect HAND that controls/guides Bitcoin rather than trusting Bitcoin itself. Without the Perfect HAND, it would be corrupted by people and destroyed.
It's actually a well developed and very useful technology. Anyone who understands its true value would invest his/her time, efforts (not necessarily money)etc in seeing that it continues to develop to the right direction for the benefit of humanity/society. Your good contributions will ensure a sustained price increase. So, better to focus more on its development... its price will continue to increase as long as it continues to be valuable/useful.

I guess that's part of the natural evolution, I mean when people says that a certain invention is going to fall and it will be doom, guess what, it will go the other way around. Just like in the beginning, yes many people invested on bitcoin but sell early because they think it's going to die. And majority of them are not regretting their decision to sell early because bitcoin really took off in the last 10 years or so. Not to late to invest right now, the price is very cheap so take advantage of this situation.

Bitcoin has always been around whenever the market condition is not fine. Bitcoin has witnessed the birth and death of many altcoins and shitcoins yet he has remained unshakable. It is a good idea that you want to invest in Bitcoin, I commend your courage, bur leaving your investment for a decade is a way too far . 10 years is not today and nobody knows what actually will happen in the next two years let alone in the next 10 years. How rich are you that you will not be needing your investment until 10yrs time?

I came to know about bitcoin somewhere in December 2021. When it was hovering around 50,000 USD.
 I read about its story from how Satoshi started the project to bitcoin pizza and more.  I felt inspired. I decided to learn more about it and joined the forum with the same intention.
Over period of time i learnt things from crypto-wallets to crypto-exchanges. I learnt how bitcoin gained value and what are its benifits.
I also learnt about the flood of altcoins in the market, and how they are rising and falling overnight. Giving people chance to gamble and make fortune.

However to me bitcoin always felt special, because while projects fizzle out now and than, bitcoin has steadily been the corner stone of cryptoworld.
Also maybe i joined this forum, may be this naturally enhanced my trust in bitcoin.
I am not an avid investor. I invest small amounts now and than in bitcoin, and intend to not to touch my investment atleast this decade. I hope by then it will grow to a respectable sum.

While lot of people off late were saying that bitcoin is finally doomed to fall. Recently my trust in bitcoin has substantially increased because of the  way it held its value against market forces . While all the currencies including euro and yen, showed a steep drop against dollar. The share marked saw a fall. Bitcoin held its ground.Against all the naysayers against all the government bans and restrictions, bitcoin managed to hold.
I believe it has proven its mettle.
I believe soon bitcoin will rise and shoot to the stars..
Waiting for that to happen.