Topic: Why people are still buying BTC? - page 111. (Read 13729 times)
As for the mining, just check out the hardware forums. Everyone is buying ASICs.
I am very excited about BTC for numerous reasons but I already have practical reasons to be excited. I will be saving an easy $100 in a month when our family goes on vacation on exchange fees. How? We are going to meet up with a local resident and exchange our BTC for fiat and save ourselves the expensive fees banks will charge us for doing that. 
We are also looking for restaurants that will take BTC so we do not have to pay exchange fees as well. Already, I am really happy to have BTC, and this is just one little example.
We are also looking for restaurants that will take BTC so we do not have to pay exchange fees as well. Already, I am really happy to have BTC, and this is just one little example. 
it is a ponzi scheme, the problem is nobody will admit that our current lifestyle is all a ponzi scheme so your wife can be right and also buy bitcoins too.
Why are people buying bitcoins? Simply because we know for sure that it is not a scam or ponzi scheme.
LOL, tell my wife that, and she'll eat you for breakfast. 
Why are people buying bitcoins? Simply because we know for sure that it is not a scam or ponzi scheme.
People are still buying bitcoins because they are so cheap! The price is going to skyrocket again any time now, BUY BUY BUY!
A bigger reason is... if people didn't buy them they would have 0 value. The value is created by the buyers. If everyone stopped trading fiat right now, BTC would be worthless because there would be no way to use it on anything worthwhile (ex. if I have a store and I sell items for BTC, I have to buy the items with cash. If I can't trade the BTC for cash anymore, I go out of business).
Quote
Why people are still buying BTC?
Not everyone can or likes to mine and friends don't sent enough, so next best thing is to buy them. 
Well you have at least 0.1 BTC from advertising
Protocol layer built on top of bitcoin, using messages in the block chain to represent transfers of value is one way of approaching it
https://bitcointalksearch.org/topic/will-you-be-my-co-founder-professional-salary-equity-stake-investor-poll-226215
cvTokens design
https://bitcointalksearch.org/topic/cvtokens-stable-currency-without-trust-197799
Freicoin
https://bitcointalksearch.org/topic/ann-freicoin-demurrage-crypto-currency-from-the-occupy-movement-crowdfund-89843
Some other neat stuff
https://bitcointalksearch.org/topic/fundraising-finish-ultimate-blockchain-compression-204283
https://bitcointalksearch.org/topic/ultimate-blockchain-compression-w-trust-free-lite-nodes-88208
Simple Brainpower is what makes the system work and grow
Havelock ASICMiner Cavirtex Mpex Btct Bitfunder just need to look for good companies regarding security
Protocol layer built on top of bitcoin, using messages in the block chain to represent transfers of value is one way of approaching it
https://bitcointalksearch.org/topic/will-you-be-my-co-founder-professional-salary-equity-stake-investor-poll-226215
cvTokens design
https://bitcointalksearch.org/topic/cvtokens-stable-currency-without-trust-197799
Freicoin
https://bitcointalksearch.org/topic/ann-freicoin-demurrage-crypto-currency-from-the-occupy-movement-crowdfund-89843
Some other neat stuff
https://bitcointalksearch.org/topic/fundraising-finish-ultimate-blockchain-compression-204283
https://bitcointalksearch.org/topic/ultimate-blockchain-compression-w-trust-free-lite-nodes-88208
Simple Brainpower is what makes the system work and grow
Havelock ASICMiner Cavirtex Mpex Btct Bitfunder just need to look for good companies regarding security
Hello guys,
To me, it seems pretty strange that people actually continues buying btc now...
I understood why they wanted to invest in btc before, after the Chyprus crisis, and all the articles in the media. But now?
I don't get it.
Bitcoin is useless, and will most likely never be used as a currency. I spent hours trying to get my first bitcoins (satoshi actually), and after working for ages, I only got 0.002 btc, which does not even allow me to proceed to a transaction (the fees are higherthan that amount
). When you compare it with CC or paypal, it seems that they are free to use in comparison! Not to mention the time required to actually proceed to a transaction which can be anything between 1 minute and ... 1 year (or more?).
The only possible reason I see people are buying btc is that they (truly) believe that the price will increase, and want to make more profit. I think that 99.99 % of the bitcoins exchanged are never withdrawn from the exchangers, and the people are only waiting to make some profits. What makes them believe that the price will rise? Because the amount of bitcoins is limited? Because lost coins can never be recovered? I have no clue.
An other problem is the "mining" part. Soon, the difficulty will increase, CPU and GPU mining will be useless. People will stop mining bitcoins and try LTC or something easy to get... The interest in btc will decrease.
Other issues:
- security. Not a single company was able to provide a "professional" service. Bitcoin-24 has a serious problem ( https://bitcointalksearch.org/topic/bitcoin-24com-matching-engine-seems-broken-site-down-174600 ). Even mtgox was critized for the lags, problems with missing coins, money, delay, and so on ... The hacks are countless (you can see new topics about that every day ...).
I can't see anything positive about btc, and still can't get why people are buying it. Can any captain obvious explains? Thanks.
To me, it seems pretty strange that people actually continues buying btc now...
I understood why they wanted to invest in btc before, after the Chyprus crisis, and all the articles in the media. But now?
I don't get it.
Bitcoin is useless, and will most likely never be used as a currency. I spent hours trying to get my first bitcoins (satoshi actually), and after working for ages, I only got 0.002 btc, which does not even allow me to proceed to a transaction (the fees are higherthan that amount
). When you compare it with CC or paypal, it seems that they are free to use in comparison! Not to mention the time required to actually proceed to a transaction which can be anything between 1 minute and ... 1 year (or more?). The only possible reason I see people are buying btc is that they (truly) believe that the price will increase, and want to make more profit. I think that 99.99 % of the bitcoins exchanged are never withdrawn from the exchangers, and the people are only waiting to make some profits. What makes them believe that the price will rise? Because the amount of bitcoins is limited? Because lost coins can never be recovered? I have no clue.
An other problem is the "mining" part. Soon, the difficulty will increase, CPU and GPU mining will be useless. People will stop mining bitcoins and try LTC or something easy to get... The interest in btc will decrease.
Other issues:
- security. Not a single company was able to provide a "professional" service. Bitcoin-24 has a serious problem ( https://bitcointalksearch.org/topic/bitcoin-24com-matching-engine-seems-broken-site-down-174600 ). Even mtgox was critized for the lags, problems with missing coins, money, delay, and so on ... The hacks are countless (you can see new topics about that every day ...).
I can't see anything positive about btc, and still can't get why people are buying it. Can any captain obvious explains? Thanks.
Cyprus and not Chyprus. It is frustrating to accumulate 0.002 btc but I have accumulated more than that in two months just by using a Nokia 7610 and Opera Mini.
If it goes down to 15 dollars then it would be good because newbies will come in and grab it again. And nobody will complain about it being too expensive.
The difficulty will increase? It is like buying or purchasing the next Samsung Galaxy and IPhone. The difficulty will increase and so is the power of future hardware.
You call Paypal a professional service. Try telling that to millions of dissatisfied customer.
Hello guys,
To me, it seems pretty strange that people actually continues buying btc now...
I understood why they wanted to invest in btc before, after the Chyprus crisis, and all the articles in the media. But now?
I don't get it.
To me, it seems pretty strange that people actually continues buying btc now...
I understood why they wanted to invest in btc before, after the Chyprus crisis, and all the articles in the media. But now?
I don't get it.
I want to buy because it will be very hard for me to do business in BTC if I do not already have some.
I want to do business in BTC because I don't want traditional banking saying "sorry, your erotica contains the word dead. That's on our black list. Change it or we stop processing your payments."
Yes, that happens, even if all you do is mention the band The Grateful Dead. Context isn't something they look at, they just scan your work.
I want to buy bitcoins so I can start doing as much business with it as I can.
Hopefully general public will want to buy bitcoins so they can buy from my business.
Investment?
That's for the speculators, I don't care why they do what they do.
Personally, I like bitcoins because I plan on running a business someday and from a business perspective, bitcoins are much easier to work with from a merchant's perspective than credit cards.
Here's why:
1) No PCI compliance to worry about. Coins received aren't credit card numbers, so while you're responsible for security, you only have to worry about your own coins, not someone else's card.
2) Lower fees - possibly zero if you do it yourself, which is impossible with credit cards.
3) No chargebacks.
I'm sure there's more that I'm not thinking of off the top of my head. The downside? Well, unlike credit cards, bitcoins are still pretty niche, so if you accept bitcoins but not credit cards, you're likely to have a pretty limited market.
Also, I love the appreciating price, I'm bullish, and plan on buying a few hundred dollars worth of bitcoins, because due to the limited supply of bitcoin, all that has to happen for the bitcoin to go up in price is for it to get more popular.
Here's why:
1) No PCI compliance to worry about. Coins received aren't credit card numbers, so while you're responsible for security, you only have to worry about your own coins, not someone else's card.
2) Lower fees - possibly zero if you do it yourself, which is impossible with credit cards.
3) No chargebacks.
I'm sure there's more that I'm not thinking of off the top of my head. The downside? Well, unlike credit cards, bitcoins are still pretty niche, so if you accept bitcoins but not credit cards, you're likely to have a pretty limited market.
Also, I love the appreciating price, I'm bullish, and plan on buying a few hundred dollars worth of bitcoins, because due to the limited supply of bitcoin, all that has to happen for the bitcoin to go up in price is for it to get more popular.
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It's all fun and games until somebody loses an eye
People are still buying bitcoins because they are so cheap! The price is going to skyrocket again any time now, BUY BUY BUY!
OP: Hey why are people still buying stocks or trading on forex? The Fees are high., high., high., etc., etc., etc., blah., blah., blah.,
ME: Supply and Demand. Welcome to the Economy.
ME: Supply and Demand. Welcome to the Economy.
Asking why people are buying bitcoins, on a bitcoin forum... Hmmmmm 
Does anyone else see an issue here, or is it just me?
Does anyone else see an issue here, or is it just me?
Exactly. It is objective, and applied uniformly to everyone. It does not matter who you know, nor does it matter if you can buy enough votes to get other people's money via inflation (or deflation or taxes).
Same here. It gets rid of a lot of the corruption. Though you still suffer losses but at least it's not due to someone willingly stealing it.
I'd rather computers and mathematics control currency than human beings.
Same here. It gets rid of a lot of the corruption. Though you still suffer losses but at least it's not due to someone willingly stealing it.
I am buying...
I'd rather computers and mathematics control currency than human beings.
Same here. It gets rid of a lot of the corruption. Though you still suffer losses but at least it's not due to someone willingly stealing it.
I'd rather computers and mathematics control currency than human beings.
Because the concept of an email-able store of value that outperforms gold and has no counter-party risk and is mostly anonymous and the entire history of transactions is public and transparent and storage takes up zero physical space are all... revolutionary? Never been done before?
...
NAH, OP is totally right -- completely useless!!!
...
NAH, OP is totally right -- completely useless!!!
It's one of the few ways to combat Paypal and Google Wallets too! Both of those are buyer-based and if someone gets mad at you and does a chargeback you not only lose your item and your money, but they will also charge you extra for the chargeback (it's like $30 for Google and 25 for Paypal).
Right -- I recently sold some mining hardware to someone overseas, and not being familiar with Paypal's exorbitant fees, kicked myself for not accepting payment in BTC ... especially after the buyer filed a dispute with Paypal trying to say the product didn't meet up to description! Well luckily I won the dispute ...
OH and ALSO... it'd be effin HEE-LARIOUS to see someone try to rob someone else of his/her BTC at gunpoint!! Pure frivolousness.
You're lucky you won. Someone I know sent a sealed, brand new laptop to someone. They got the package, opened it and then put bricks in it to take pictures as proof that the laptop was never actually sent.
Ridiculous. Yeah I got extremely lucky... I'll never use PayPal again, effin crooks...
Buyer filed dispute, PayPal says (i'm paraphrasing here): "Here's some options you might use to solve the problem",
One option was "Request buyer send back merch and refund half the money" -- I said "NO WAY, DON'T EVER DO THIS"
Guess what PayPal did? They went and offered the buyer that exact option that I explicitly asked them NOT to offer! I seriously would rather have been sued... At least in court, I would have had a chance to prove my case (which I supplied evidence -- screen shot and a link [which I believe is still archived here somewhere on this forum] to the original product description, which matched the buyer's complaint precisely)
PayPal overtly ignored this evidence AND my "choice"... complete disregard for my end of the deal. They gave the buyer up to a certain date to provide shipping / tracking info that the merch was being sent back to me... The buyer never responded.
Whew! Well maybe he finally figured out how to use the cards after all!
lol, my worst situation... one day I found $3k in my account that wasn't mine. Because I'm a highly moral person, I contacted Paypal to let them know that I had money that wasn't mine. They froze my account instantly to look into the situation, then a week later said they couldn't figure out where it came from or who it belonged to. Because of this, they said they had to just remove the 3k and keep it, since it no longer has an owner.
So they take the 3k, my account is still frozen. I contact them again wanting to withdraw my money (that I had before this situation started) and they said there's a 180-day hold on the account. They refused to give me anything for that 6 months, while they held it to earn interest.
After I got my money back, I've been 100% against holding any funds there again. In the off case I get a PP payment, I instantly withdraw it.
Because the concept of an email-able store of value that outperforms gold and has no counter-party risk and is mostly anonymous and the entire history of transactions is public and transparent and storage takes up zero physical space are all... revolutionary? Never been done before?
...
NAH, OP is totally right -- completely useless!!!
...
NAH, OP is totally right -- completely useless!!!
It's one of the few ways to combat Paypal and Google Wallets too! Both of those are buyer-based and if someone gets mad at you and does a chargeback you not only lose your item and your money, but they will also charge you extra for the chargeback (it's like $30 for Google and 25 for Paypal).
Right -- I recently sold some mining hardware to someone overseas, and not being familiar with Paypal's exorbitant fees, kicked myself for not accepting payment in BTC ... especially after the buyer filed a dispute with Paypal trying to say the product didn't meet up to description! Well luckily I won the dispute ...
OH and ALSO... it'd be effin HEE-LARIOUS to see someone try to rob someone else of his/her BTC at gunpoint!! Pure frivolousness.
You're lucky you won. Someone I know sent a sealed, brand new laptop to someone. They got the package, opened it and then put bricks in it to take pictures as proof that the laptop was never actually sent.
Ridiculous. Yeah I got extremely lucky... I'll never use PayPal again, effin crooks...
Buyer filed dispute, PayPal says (i'm paraphrasing here): "Here's some options you might use to solve the problem",
One option was "Request buyer send back merch and refund half the money" -- I said "NO WAY, DON'T EVER DO THIS"
Guess what PayPal did? They went and offered the buyer that exact option that I explicitly asked them NOT to offer! I seriously would rather have been sued... At least in court, I would have had a chance to prove my case (which I supplied evidence -- screen shot and a link [which I believe is still archived here somewhere on this forum] to the original product description, which matched the buyer's complaint precisely)
PayPal overtly ignored this evidence AND my "choice"... complete disregard for my end of the deal. They gave the buyer up to a certain date to provide shipping / tracking info that the merch was being sent back to me... The buyer never responded.
Whew! Well maybe he finally figured out how to use the cards after all!
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