Bitcoin Forum

Economy => Speculation => Topic started by: johnyj on February 15, 2013, 09:39:58 PM



Title: Why do you buy bitcoin?
Post by: johnyj on February 15, 2013, 09:39:58 PM
If there are any other reasons, please post them here


Title: Re: Why do you buy bitcoin?
Post by: deadweasel on February 15, 2013, 09:46:44 PM
If there are any other reasons, please post them here

Other than what?

I buy because I hope to be part of freeing money from governments.  I also buy because I hope to make 10x on my money by speculating on a possible future currency.  


Title: Re: Why do you buy bitcoin?
Post by: zoinky on February 15, 2013, 09:48:09 PM
Hobby.


Title: Re: Why do you buy bitcoin?
Post by: mccorvic on February 15, 2013, 09:50:50 PM
Because internet money (also the nerdiest thing deadweasel mentioned :D)

I'm not really worried about da guvernmint which puts me in the minority on these forums and I think that when people make that their first talking point it actually does BTC more harm than good.

I like the idea that I'm able to send money to anyone anywhere in the world instantly without going through 5 corporate middlemen who could freeze my money at any time.


Title: Re: Why do you buy bitcoin?
Post by: edd on February 15, 2013, 09:56:12 PM
None of the reasons I use BTC are listed.

  • For idealogical reasons. (I like being in control of my own money.)
  • To send money anywhere in the world quicker and cheaper than ever before. (as mccorvic mentioned.)
  • I bought my first bitcoins for $1 each. If I had bought more, I'd be rich.


Title: Re: Why do you buy bitcoin?
Post by: johnyj on February 15, 2013, 10:14:53 PM
None of the reasons I use BTC are listed.

  • For idealogical reasons. (I like being in control of my own money.)
  • To send money anywhere in the world quicker and cheaper than ever before. (as mccorvic mentioned.)
  • I bought my first bitcoins for $1 each. If I had bought more, I'd be rich.

Ok, added your reasons  :)


Title: Re: Why do you buy bitcoin?
Post by: vdragon on February 15, 2013, 10:50:23 PM
Seemed interesting idea at a time, it grew to a full time obsesion :D


Title: Re: Why do you buy bitcoin?
Post by: Qoheleth on February 16, 2013, 12:45:35 AM
I think the blockchain technology has significant advantages over other clearinghouse technologies. This gives me long-term confidence in BTC as a currency which has nothing to do with its current price movements, or aversion to fiat, or anything like that.

Technically, I suppose this falls under the "investment" option, but saying that you're buying and holding something "because it's part of your investment portfolio" is like saying you like lasagna "because it's tasty". Not really useful information on why you think it's worth the investment to begin with.


Title: Re: Why do you buy bitcoin?
Post by: oakpacific on February 16, 2013, 03:02:30 AM
What about bragging rights? To your children/friends:" I was part of the whole revolution, I saw history unfolding right in front of me, and I can sign a message to prove it." ;)


Title: Re: Why do you buy bitcoin?
Post by: yogi on February 16, 2013, 03:14:23 AM
For me, bitcoin presents an opportunity to escape from the strangle hold of the international banking systems.


Title: Re: Why do you buy bitcoin?
Post by: evolve on February 16, 2013, 08:27:10 AM
To sell it for a higher price.


Title: Re: Why do you buy bitcoin?
Post by: Melbustus on February 16, 2013, 08:28:46 AM
Because bitcoin is the best money.


Title: Re: Why do you buy bitcoin?
Post by: MadSweeney on February 16, 2013, 10:40:57 AM
I buy bitcoins partly as part of a scheme to provide alternatives to established payment and money transfer systems. To do that, I run a small exchange service and provide some liquidity to local bitcoin users.

The economy of my country is supported in a large part by remittances from overseas foreign workers, and it is in this area that bitcoin has a most obvious utility. However, I see that some local freelancers are now taking btc for payment, and I'm glad that I get to exchange their btc to pesos.

It is my hope that more local freelancers, most especially artisans, take advantage of btc as a payment method. This could also make the value of bitcoin appreciate.


Title: Re: Why do you buy bitcoin?
Post by: jonitas on February 16, 2013, 03:21:02 PM
Here in Brazil it's not that easy to buy gold, so instead I started to acquire bitcoin as a way to protect my savings against inflation. Now I find it to have some advantages to gold: it's much easier to transfer, you can buy and sell 24/7, no counterfeited coins, not possible to prohibit, no storage costs. Because of this i find bitcoin to be very undervalued compared to gold.


Title: Re: Why do you buy bitcoin?
Post by: Crypt_Current on February 16, 2013, 06:34:57 PM
does mining count?


Title: Re: Why do you buy bitcoin?
Post by: marcus_of_augustus on February 16, 2013, 10:46:52 PM
Quote
I like the idea that I'm able to send money to anyone anywhere in the world instantly without going through 5 corporate middlemen who could freeze my money at any time.

You actually are against the guvenmint ... you just haven't connected enough dots to know it yet.

EDIT: my reason for buying bitcoins ... "It just feels right".