Why people are still buying BTC? - page 65.

shushu9977

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Quote from: naphto on April 19, 2013, 03:04:15 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 I think that 99.99 % of the bitcoins exchanged are never withdrawn from the exchangers, and the people are only waiting to make some profits.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.

Bitcoin is the first digital currency and I believe that Bitcoin is our future.Without it, we can't think anything. This is the toppest security and privacy with the help of Blockchain.So people are buying bitcoin continually. Those who have confusion why people still continuous buy Bitcoin I want to say just read and learn more and more about Bitcoin which is the most dominating and successful crypto-currency in 21th century and should be most powerful and strongest crypto-currency in the upcoming future.

Paul Pogba

member

Activity: 1232

Merit: 12

People feel that bitcoin prices are currently cheap and believe that someday or year-end prices will be very expensive, this is the main reason for people interested in buying bitcoins.

airdrophunter

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Activity: 434

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The Exchange for EOS Community

People are still buying bitcoin is not really surprising to me because we can't deny the fact that bitcoin is a life changer that can make someone else's life from poor to become rich. Although they know how risky to be investing in bitocin, but their optimistic mind has keep them going on buying bitcoin.

mel1978

full member

Activity: 518

Merit: 101

Quote from: naphto on April 19, 2013, 03:04:15 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.

This is because they trust bitcoin and its future that can give good lives to people. Bitcoin also helps people finds there true types of lives that they have wanted to be. They also wanted to buy bitcoins because they want to be rich.

kive2k

member

Activity: 350

Merit: 10

They buy because they are still investing the right time, the probability is very high that the price will rise at times, when the demand becomes higher.

bhabygrim

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Activity: 994

Merit: 257

Best Bitcoin Casino www.coinsaga.com

People are still buying it even if the price is dropping because they believe that Bitcoin would go up again.
And they want to take advantage of it while the price is still low because maybe in the future or next year the price could be even more higher than it was in December .

nesty

full member

Activity: 518

Merit: 184

People do still buy BTC because they do know that they are going to benefit from investing on it. Though the market flactuates so fast the market keeps on going. There are times that it goes down but I am confident it will recover again. For a long term investor like me i would still risk my investments because for sure it would be worth it for long term.

Dingdong7

member

Activity: 138

Merit: 15

Because we have seen how it is tremendously growing at an instant. There is a big hope that bitcoin price will recover and even reach its highest peak. I still want to buy more, simply because there is surely a bright future that awaits for bitcoin. Buy as much as you can afford there is surely a good return in the long run.

Viranz

newbie

Activity: 133

Merit: 0

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.

Btcmicel

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Activity: 177

Merit: 0

Quote from: s2sallbygrace on May 28, 2018, 06:44:14 AM

People continue to invest in Bitcoin because of the benefits it can give to people especially to every investors. They believe that it has a good potential and will continue to grow in the market. Earning huge profit in bitcoin is the reason why investors continue to patronize bitcoin.

Because they believe that bitcoin grow stronger in our market than other cryptocurrency. And the profits offers is the best for every investors.

s2sallbygrace

full member

Activity: 308

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People continue to invest in Bitcoin because of the benefits it can give to people especially to every investors. They believe that it has a good potential and will continue to grow in the market. Earning huge profit in bitcoin is the reason why investors continue to patronize bitcoin.

rhamdy

newbie

Activity: 126

Merit: 0

I think people buy Bitcoin because they think that Bitcoin will continue to increase its value and Bitcoin will become a digital currency in the future.
They believe in Bitcoin and therefore they buy Bitcoin.
I think Bitcoin does go up but Bitcoin certainly decreases too.
I think there are many people who have proven that Bitcoin brings huge profits and therefore many people are very enthusiastic about Bitcoin and try to buy it.

Sum24

member

Activity: 448

Merit: 10

Quote from: piter_wip12592 on May 26, 2018, 02:50:40 AM

People are still buying BTC because they believe in the development of this market. And for those who have learned a lot about blockchain technology, they will have a good view of this market.

That’s the important point because people trust on bitcoin and day by day its users are increasing just because of its great responsibilities not only billionaire’s are investing here but a lot of countries they are accepting bitcoin and some of the rich companies have also joined bitcoin I wish that bitcoin will achieved some more its goals and target because the way it’s going so fast there is no doubt that it will be a future currency.

FlightyPouch

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Activity: 1638

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Quote from: L1looker on May 28, 2018, 02:02:53 AM

Because people who buy bitcoin are confident of future bitcoin increases. Therefore they continue to buy bitcoin even a little and keep it for an unspecified time. This is a good way of investing in cryptocurrency and can generate future benefits.

Not really confident since we all know how volatile digital currencies are. Investing on digital currencies means that we are risking our money into something that may either have a profit or may not have a profit.

There may be some that do not continuously buy Bitcoin, they might bought it in time that the price is good and now that the price is low, they are still holding it, regrettably, hoping that it will still pump in the next months.

jeluhtajem

member

Activity: 252

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Every BTC buyer has two purposes. First, they invest in bitcoins when they are low priced and keep them for a long time. And they may also buy to invest in other coin they like.

Darker45

legendary

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When I read an old thread such as this, I am encouraged to buy even more Bitcoins. This reminds me that the problems and concerns and questions that we encounter today are the same problems and concerns and questions that have had already existed in the past. And what prevailed each time such doubts existed was the truth that Bitcoin is growing and gaining more and more value.

L1looker

member

Activity: 280

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Because people who buy bitcoin are confident of future bitcoin increases. Therefore they continue to buy bitcoin even a little and keep it for an unspecified time. This is a good way of investing in cryptocurrency and can generate future benefits.

lehuong

newbie

Activity: 168

Merit: 0

Quote from: Taz on April 19, 2013, 03:08:00 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.

Because they have trusted bitcoin even though its price is not very high yet, it is not exactly what we expected but people still buy it as if it is a hot currency of this digital currency. I think bitcoin is still hot with them all time

mstfprcn

hero member

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BEcause it will continue to grow so it will have an ever-increasing price and profit, and many people are interested and buy bitcoin because they believe bitcoin will continue to survive.

Ngewex Yuk

sr. member

Activity: 1190

Merit: 250

Buying certainly has a good reason, and I think the strongest reason is to hope and be confident about the future of bitcoin, let alone everyone thinks that the current price is cheaper than a few months ago so I'm sure that buying is profitable.

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