Topic: Why is the use of Bitcoin increasing? - page 10. (Read 1520 times)

The reason why bitcoin is increasing is because more investors are on the verge of discovering bitcoin due to its demand. If I am not mistaken, Bitcoin has topped google search already compared to searching for President Donald Trump. Huge companies are investing in bitcoin as well. This pushes the price of Bitcoin to go up.

because more people believe bitcoin than people who oppose it
believers consider bitcoin as a promising investment for them, while opposing parties may be because they have not known any more about bitcoin, they just glance at it without understanding it

Because bitcoin is becoming really popular and some of the parents are teaching bitcoin to there son/daughter for their future.

Banking institutions, law enforcement agencies, business leaders, Governments and many others are afraid that Bitcoin and the Blockchain will ruin their business and their way of life. No more money will be manipulated by centralized institutions and by people only, we will get the power.

I think the reason why the use of bitcoin is increasing is because many people are using it. The thinking that bitcoin is illegal is absurd. there are no rules or laws about bitcoin so it nor legal or illegal. the  reason why so many people started doing bitcoin is because they see a potential on it. They see that they can earn some profit on it.

Simple really because of it's unique features that allow us to pay our bills at bills with ease, allow us to send money without any troubles, and the elimination of the government and third-party intervention which negate the effect of extra charges that allow us the use of our money at it's maximized desires.

The people over the world takes bitcoin and it is not particular to any country,the recent interest in bitcoin is simply because everyone sees this as an opportunity to make instant money as the price was going up for over a year and that is the reason there are many investors in bitcoin and the price was increasing without any limits for a while.

Maybe perhaps you are referring to its users and not uses because many people still believe and bitcoin and continue to invest. Maybe they ban it because of some issues on their country and we dont have a control about it. People still trust bitcoin to be an investment because they see some potential unto it inspite af all the issues and fake news.

in my opinion, many people enter the crypto world and people understand that bitcoin is a good currency tool, yes of course bitcoin users increasingly growing, because bitcoin has been widely talked about as a very good investment place, and bitcoin it makes a lot of people curious, and the more its bitcoin price is very high can not be predicted its price.

Simpy because people interested to get involved in crypto currency they will know bitcoin first since the exchange of this digital asset is available almost in every country. While other people use it to invest and other use it to evade tax since somehow it cannot trace easily by the government.

Not all the governmente have banned bitcoin. Only China, Nepal and a few others have. The ratio of the countries in which owning bitcoin is allowed to that of the countries which have banned bitcoin would be a pretty big number. As you know anyone would like to invest their money and like to earn money without doing any work, so people keep investing in bitcoins. Also the number of such people keeps on increasing per minute.

Cryptocurrency is a new revolutionary type of currency. Like any other currency or unit of account, they only have value because people think it has value. Some currencies are backed by gold or other precious metals; others are backed by nothing but hot air although have value because people think it has value and use it as a unit of exchange.

The following features are the main driver of cryptocurrency price, but not limited to these.
* Energy put in in the form of electricity to secure the blockchain.
* Price of Bitcoin.
* Media.
* Investors.

One of the main reasons for the growth of bitcoin is that in April it was actually legalized as a currency in Japan. This attracted a huge number of Japanese investors.
The problem is that many do not understand: bitcoin is really growing.
There are more users, they register more wallets, the number of transactions increases, new companies are created that take advantage of bitcoin.
In the media there is mainly negative information about what is happening with bitcoin. Only large failures are widely covered: when a certain exchange is hacked or when illegal transactions occur with bitcoin.
But this is important: many still refer to the crypto currency with skepticism, they are afraid that everything will collapse.
In fact, many where bitcoin is already widely used as a payment instrument. For example, the laws of Nigeria prohibit local banks from withdrawing the country's currency - the Nigerian Naira - abroad. Therefore, in Nigeria, there is a strong increase in the use of bitcoin.
The same is evident in other countries, for example, in Venezuela and Argentina, where there is very high inflation. Local residents try to fight inflation by keeping money in bitcoin.
As far as I understand, the popularity of bitcoin in Nigeria was strongly influenced by the arrival in the country of the financial pyramid of Sergei Mavrodi. In "MMM" calculations with depositors are carried out in bitcoins.
Yes, definitely, the demand for bitcoin is connected with the "MMM" Mavrodi. But the reverse situation with the financial pyramid is that it made bitcoin popular - now everyone knows how to use it.
In Venezuela, too, an interesting case. There not only hedge the risks of inflation, but also solve problems with food and goods: residents using bitcoins order food with delivery from the US.

you misunderstand the meaning of the sentence, the illegal purpose here is illegal transaction. because there is no rule about bitcoin transactions, so it is considered illegal.

The use of Bitcoin is increasing because more and more people around the world are still hearing about it and so indirectly they are starting to trust it. That is the way MSM media brainwashes people by repeating the message over and over until it becomes familiar and something you desire. That's because BTC is an unstoppable force that cannot be reckoned with.

I think the reason is they see bitcoin as an asset and a way of payment. Yes, many countries banned bitcoin for some reasons but more are using it because they see the benefits of bitcoin. Many are against it but compare it to the people who are using it, you can see that more are using than against.

Every country in this world is trying to use Bitcoin for payments that how bitcoin is introduce to them. This is just the beginning the price of bitcoin will go up

Well there are a lot of reasons that bitcoin use is increasing. The first is the demand , because more and more people are getting involved with bitcoin with every day. Another reason would be the blockchain technology ofc and the 3rd it's all about the money for some of us.

If you mean price increase lately, it's just because people buying more bitcoin to have free airdrops from many bitcoin forks the last 2 or 3 months.
Let's wait the end of forks to know the real value of bitcoin.

Yes bitcoin makes everyone equal there is no need to fill in order to become a bitcoin holder but it is needed only to pretend it because of the being illegal in the other country. Bitcoin is very helpful for everyone it change everyone's life.