Topic: Why should you own at least one Bitcoin? - page 3. (Read 797 times)

I observe not many people can repeat those simple processes because they will think it is a waste of time waiting for the price to go down and then determine the lowest price. Yes, they need to realize that is the only way for them to buy bitcoin at a lower price but they also have the other way to wait for the lowest price to buy bitcoin. But the problem is no one will know how deep bitcoin price will go down and we can only predict the price. Maybe they should realize how they can make money from bitcoin so they will think that buying bitcoin at a low price and selling it at a high price will give them a chance to make money.

The different fractions of Bitcoin is alien to a lot of people if you think about it how many people use fiat and pay in whole numbers instead of using their change. They treat their pennies and smaller amounts than a whole number as throwaway change. It is not their fault but fiat has changed the way people think if you do not own whole numbers you are not rich. There are probably a lot of people who could afford 1 Bitcoin off the bat but for regular normal people I doubt many would have enough money to invest 10% of it because of other responsibilities they might have.

It's not a new reason I hear from people who decide to buy some other alt and not Bitcoin (1 BTC is too expensive, I feel better owning 100 units of ABC coin instead). I don't really get it, but that's because I'm so used to dealing in fractions of Bitcoin -- yes, even in 2016 when Bitcoin wasn't even $1000. I do understand the psychology of seeing 0.x though.

But I think encouraging people to own a whole coin is counter-productive to encouraging people to get into Bitcoin. I can't think of a single regular person able to afford 1 BTC right off the bat.

I totally agree with you
There's no point creating a competition where there's none . The fact that market rises and falls often is enough stress to deal with. If you can afford many good for you.if it's just 1 or less than 1 you can afford, you have tried.
It's not a race neither is there a finish line, just invest what you can and earn a living.

My strategy is to accumulate.
I think, There are many reasons to keep a minimum of 1 bitcoin because its supply is becoming increasingly scarce, the halving every 4 years makes the supply deflate lower than the demand. As you can see, when bitcoin adjusts its hashrate, the value of bitcoin has a long-term upward trend. Bitcoin is freely used or held for long-term profit without worry, like a high-yield savings fund.

There is nothing wrong investing into Bitcoin.
What is wrong is that the mindset that owning 1 Bitcoin is a requirement.
Remember that is why every Bitcoin has been divided into 100,000,000 Satoshis so that every people can get a portion of it because we know that Bitcoin is scarce and limited.

It doesn't matter if you only own 0.001 BTC or 0.01 BTC or even lesser as long as you are holding and using Bitcoin then there is nothing wrong there. Well, if you own a Bitcoin already then well and good. There will be a time that you will sell those Bitcoin and take profit .

Bitcoin is indeed a safe investment choice compared to other coins, because the risk of investing in Bitcoin is not as big as investing in altcoins.
So it is highly recommended for beginners to invest in Bitcoin, because to make a profit from Bitcoin is not too difficult, we only need to hold
Bitcoin until the price reaches the target we want. After all, Bitcoin recovers faster if it experiences a decline in price, that's because the demand
for Bitcoin is very high. In contrast to investing in altcoins, which has a very large risk,  especially when it comes to investing in shitcoins,
it is certain that it will take a very long time to recover if the price falls. So if you can't afford to buy 1 Bitcoin, you can buy several satoshis,
no need to buy 1 Bitcoin. Instead of forcing investments in altcoins, the risk of losing money in altcoins is very large.

Currently, I think in cryptocurrency investing bitcoin is the best with less risk and the price of bitcoin will go higher as bitcoin is more and more popular attracting high investment capital.  however my account is not enough to invest 1 bitcoin.  I can only invest some altcoins.  I hope my investment will give good return and at some point I can own at least 1 bitcoin.

Simply relates that to a stock that matures over time. Plenty of people have been scares with the nature of bitcoin but its always a good thing to have an open minded feeling about some form of investment. At first I was hesitant to invest bigger than I can afford to lose but I totally understand now.

For people with not enough knowledge about it then study it. Surely you have the means to do that and when the tike you already accumulate at least 1 btc then you can say its worth the time and money.

Why do you need to hoard bitcoins, when Bitcoin (Lightning Network) is such a great payment system? You say the Banks are greedy, but you forget that people hoarding bitcoins are greedy too...right? The speculators in the Crypto currency scene could care less about the technology, because they are too focused on their profits.

If Bitcoin is built on "greed" ...then they will also fall like Wall Street and like the Banks, because you need people to create a use case for Bitcoin for it to survive. The use case is it being used as a "Currency" and not as a "Commodity" 

I very much hope that my wallet will be as you suggested.

I think that the result of Bitcoin reform is like a singularity in the universe. It is difficult to imagine and understand the future world from today's perspective.

I also believe that in the future world, there will be a Bitcoin that will have a huge impact on me.

I am not that rich that own one bitcoin mate, but i am investing on it too, one bitcoin is very valuable, and i dont have that much.
I am agreed with OP said that we must start investing in bitcoin, according in our condition, investing is our guarantee to our future.
If i were rich, i will investing not just one bitcoin, i save as much as i can because we all know bitcoin is future.

This is probably a good advice. (assuming you won't buy if you can't afford to lose)

This, on the other hand, is a nonsensical advice. First off, what does it mean “If you're not rich”? If you don't have a million dollars? A billion? If you don't own currently $43,217.80? That you're an average Joe? Lots of people consider that one Bitcoin worths lots of money today. If they're not rich, how can they accumulate it?

Secondly, why exactly one Bitcoin? These 100,000,000 satoshis aren't going to make you as rich. At least not as much as you may think. It is just affecting you psychologically that 1 of the 21,000,000 BTC (which aren't tangible to somehow affect you, but anyway) will be owned by you. Would it be more appealing if I said that 100,000,000 of the total 2,100,000,000,000,000 sats will be owned by me? Nah.

wrong belief mate , you cannot force anyone to hold a single bitcoin or more because of

First - higher price

Second - volatility

Third - capacity


those mentioned things are the one hinders every small investors or traders to purchase and keep holding bitcoin.

also why need to hold one bitcoin when you can only afford small chunks?


and also there are tons of altcoin to choose that might give you "One time Big time"?

I don't like greedy people. Human has potential to be greedy but I think it is not a good behavior. In the past I think I need atleast 1 btc but now I think the most important thing is knowledge and the blessing of god. I calculate the profit probability of some coin, of course the profit that may I can get from bitcoin is big probably more than 300% for minimum in a bullish market. But lately I also calculate the probability of some other cryptocurrencies such as TRX, DASH, ETH and etc. I think the price of TRX has very big potential to increase for more than 2000% maximum in a bullish market or 700% for a minimum as the company is working on gamers community market. As a gamer I spent a lot of money to buy game items once there is new event in game that I like, I think it is general gamers behavior. I think the market is very big. For Dash, I think this coin is unique, Dash is one of popular coin but I personally think that the bubble is very big. In the bullish market this coin price is pretty expensive but this is not for long time and when bearish market happen the price is very cheap, but still the lowest price level is getting higher and higher. I am not an expert maybe I am wrong. So the conclusion is in my opinion the best thing to do for know is looking the biggest opportunity with the lowest risk that we can get, I don't invest in unpopular altcoin or only based on what I thinking, I choose cryptocurrency based on data and other factors such as internal factors (people behind the project) and external factors. But still I will be grateful if I have 1 BTC. I already have 3 BTC before but I sold it at bearish market that is my biggest loss. Atleast I learn from my mistake and trying to don't do the same thing.

the same thing when bitcoin touched $1k $5k $10k and $20k ... everyone sayss its not affordable and its a bubble until its getting much more valueable year after year. tired hearing this especially from those people who just know about bitcoin and regretting it later in the future (im not talking bout you tho) :p

to own 1 bitcoin its necessary for those who can resist in case the price dropped 80% from the inital price. otherwise yeah its not really necessary.

If we look at Bitcoin's extraordinary performance as a profitable asset in a pandemic situation like now. It's natural to finally make Bitcoin's
popularity increase, because many people want to buy Bitcoin. With increasing demand, while the supply is limited, we can predict the price of
Bitcoin will be very expensive in the future. So many people are now starting to compete to collect Bitcoin, even though the current Bitcoin price is
quite high. But we don't need to buy 1 Bitcoin, it is enough to buy a small fraction of Bitcoin according to our financial capabilities. This is enough
to provide profit in the future.

Honestly everyone wishes to have one bitcoin at least. However the current price isnt affordable for for everyone. We allnknew how expensive bitcoin it is at the moment and only fraction can be acquired.

There is a limited supply of bitcoin and the 21million is fixed while some supply have been lost forever. Meaning it gonna become scarce in the future or if only few major hodl some or majority of the supply. They can control the price as it is.

But even a fraction could be worth a lot in the future and its not necessary to own one.

Not to be pessimistic but how sure are you to say that Bitcoin will be in an "unattainable price" in the future.

1 BTC is equal to 1 BTC regardless. Buy Bitcoin when you can only afford one. Take advantage of the dips, but don't force everyone to buy a whole Bitcoin.

We don't know exactly when will crisis come, what we only need is positivity and determination to conquer all those hindrance in achieving successful life. If we desire to buy bitcoin during this year, I guess it's so difficult to make it possible because it's at the peak level compared from the past 4 years. Maybe those days, I'm able to own at least 1 btc but I failed to do so due to several reasons related to spending needs. For now, we're still capable of owning btc but maybe 10% of one whole value can be an assurance for our future profit.