Why people are still buying BTC? - page 59.

rosepetals

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Quote from: naphto on April 19, 2013, 04:04:15 PM

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 Roll Eyes

). 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 I think that 99.99 % of the bitcoins exchanged are never withdrawn from the exchangers, and the people are only waiting to make some profits.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.

Now that the price reaches to $7,550 this was the chance for some investors to invest,wherein its lower than the price since it reaches its ATH last 2017.If people invested by these times and those fluctuating moments would come back again theres a huge profit that lies ahead.Thats what i see some reason why people still keep on buying it,take the risk for better purposes,what matters is people were aware that investing or buying bitcoin was always at risk and they invest what they can afford to lose.

boddy.dy

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People are still buying BTC because of our different reasons. Now with the huge capabilities of BTC we don’t really know now why people are buying this. Because as of now BTC can be a way of payment in buying online stuffs like booking in hotel, buying airline tickets and sending money in remittances centers. But for me I still buying BTC because this is very profitable, in short I still buy this to get more money. But also sometimes a do use bitcoin in other ways that this offered. We just hope that the capabilities of bitcoin will still grow or expand so that its price or value will increase because of its demands.

SergeYak

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People understand that bitcoins are good asset and they can make good money by investing. Others buying bitcoin for trading or other activites, bitcoin can be used for everything.

Jake Virus

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Quote from: trako on May 30, 2018, 01:13:41 PM

People continue to use bitcoin because they see it as profitable. Maybe it will never be accepted as a common currency, but it does not matter. As long as you earn it, nobody will think about it.

For me the best reason why people are still buying bitcoin is because bitcoin can help all people to became profitable, and there is no doubt that people are still buying bitcoin because the price of bitcoin can increase very well this year.

syamster

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Quote from: Sakash on May 30, 2018, 01:10:41 PM

People invest money in BTC. Because you can earn money from bitcoin. This will facilitate a way to earn your money. For more people, people buy BTC.

Yes it is the main reason for buying bitcoin as they know bitcoin is the best currency it gives us profit and saving bitcoin for long time can make their life good, I am bitcoin user and I have faith that bitcoin is profit making investment as with the help of bitcoin I can make a lot of things easy for me, so this is the reason why I am investing in bitcoin right now,

Blackmet

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People want to get profit from bitcoin so the are buying it for holding , trading and other activities that can be made with BTC. At my opinion they are absolutly right in this case.

GoodLuck2

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Quote from: Kadal Ijo on May 28, 2018, 08:01:36 PM

Buying bitcoin is the best strategy to make a profit, I'm sure that bitcoin development will continue to improve so that users can get big profits like last December.

People still buy Bitcoin because we assume people are rational in the market and have perfect knowledge and information about the technology. Having said that, they will invest in an asset that is of good future return and Bitcoin is since their favorite coin, it can be said Bitcoin is of great future benefits. Besides, the real market charts and graphs also depict the said concept graphically.

jaysabi

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★777Coin.com★ Fun BTC Casino!

Quote from: naphto on April 19, 2013, 04:04:15 PM

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 Roll Eyes

). 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.

Here we are five years later and many original complaints are still relevant, while some others we can look on with the benefit of hindsight.

Bitcoin is useless, and will most likely never be used as a currency. Five years later and this is more true than not. I wouldn't call it useless, but it's certainly not being used regularly as a currency. Much more as a speculative investment and gambling medium than anything else (gambling both in the sense of speculation and as a token for internet gambling games).

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! Transaction fees have come down significantly, but it was true that for over a year the network was crippled by high sky-high transaction fees and a perpetual backlog of hundreds of thousands of unconfirmed transactions. The network was pretty unreliable during that time period. Now, PayPal is potentially cheaper (depending on how you transact), but for your standard transactions Bitcoin probably has a slight advantage, although PayPal wins the speed comparison.

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. This didn't really pan out. People still mine and generally haven't lost interest, although I don't think anyone 5 years ago would have predicted how fast the difficulty would rise.

Even mtgox was critized for the lags, problems with missing coins, money, delay, and so on ... Lol. This was still about a year before Mt. Gox shut down. If only people had any idea of what was to come.

Sam02Sung

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If people still buy bitcoin they still believe in bitcoin for the future. And perhaps more and more people want to know bitcoin from their colleagues who understand bitcoin.

lifetimebitcoins

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people are still buying bitcoin because they believe in technology behind bitcoin that is Blockchain technology

Mia Wallace

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People are still buying BTC because it has certain positive characteristics which enables the global community to attract bitcoin for their investments and the daily requirements.Through the block chain technology all the transaction records are stored perfectly unaltered.The credibility of the bitcoin is ensured by the global investors and its popularity has widen so more people are attracted to it ,also it is a new form of economical theory which is against the present financial concepts

cizatext

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Quote from: naphto on April 19, 2013, 04:04:15 PM

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 Roll Eyes

). 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.

A high ranking member of the bitcointalk.org a community of bitcoin lovers can post this about bitcoin, that show you lack of knowledge of what bitcoin really is aside seeing bitcoin as just an investment platform or a get rich quick scheme. But bitcoin is more then that bitcoin is a currency which can be use across border and free from any interference from government or any institutions.

Baby Dragon

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Quote from: Taz on April 19, 2013, 04:08:00 PM

People are invested in bitcoin in many ways.
They see good reasons to stick with it and most of them are thinking long term.
Things crash from time to time, it doesnt mean they are dead.
And besides that profit isn't the main focus for most of the old dogs of bitcoin.

Actually, many people invested in bitcoin in a lot of reasons. The main reason why people keep on buying bitcoin is the opportunity to become rich or millionaire. In addition to that, bitcoin is very profitable so that many people keep on buying it.

jmvzlfyg

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Bitcoin is a belief in the world of encrypt. All coins are based on bitcoin. Bitcoin has a lot of faithful followers, and bitcoin has a strong support to buy the most correct choice of bitcoin.

trako

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People continue to use bitcoin because they see it as profitable. Maybe it will never be accepted as a common currency, but it does not matter. As long as you earn it, nobody will think about it.

Sakash

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People invest money in BTC. Because you can earn money from bitcoin. This will facilitate a way to earn your money. For more people, people buy BTC.

molenracing

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Because they still believe in Bitcoin, so they continue to buy Bitcoin. Bitcoin is a digital asset that is able to give us hope, therefore I really like and and if there is money I will invest my money again to buy Bitcoin. indeed besides Bitcoin there are also some good investment tools, such as Gold and Land. but I think Bitcoin has the advantage of it.

shata

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Quote from: naphto on April 19, 2013, 04:04:15 PM

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 Roll Eyes

). 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.

These thread has been for how many years and I think, these questioning mind had already got the answer. Yet I want also to add something.

The people of this world has invested in cryptocurrency specific in bitcoin because of different purposes and reasons, some thought it as an investment, like stocks or real estate where prices can go increase for a certain period of time, some had research it and some did not. Others, because it is the trend, they went to that flow, some are just for the purposes of its original purpose, the remittance or transferring of funds. We cannot predict people but I hope, in everything we do, plan and educate ourselves first.

babaya

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because people know that at this time bitcoin price still cheap.and they confidence that in future bitcoin or cryptocurrency will make new high that can make them to be millionare.

resty

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Quote from: naphto on April 19, 2013, 04:04:15 PM

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 Roll Eyes

). 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.

MAny people are still buying Bitcoin for many reasons. Primarily, they use it as an investment because gaining profit on it is not too complicated. Other reasons include Trading, Gambling etc.

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