Bitcoin Forum

Hi guys,

I am currently working on a research on bitcoin and to proceed, I need some answers as to people's motivation behind investing in bitcoin. Could you folks please help me by answering my questions? Would appreciate your comments!



Q1. What are your main reasons for investing on bitcoin?

Q2. What do you use bitcoins for?

Q3. Where do you see bitcoin headed going into the future?

Q4. What are your main concerns while holding bitcoins? Do you fear the backlash from society, environment (online/offline), safety features, regulations, market factors, etc.?



Thanks all!

Going to be as honest as possible here even though some might not like it.

1. Money, I see bitcoin as an investment, I want it to succeed for other reasons but primarily it's so I can grow my fiat (I don't think bitcoin will become a world currency)

2. Only for investment purposes.

3. I think bitcoin will be more readily accepted but I don't think it will progress as many people think, I see it operating in conjuction with FIAT.

4. My main concerns are a decrease in price, I mostly think that will take the form of regulatory pressure/crackdown. It could also be a drop in interest but I don't see that happening because of the benefits to bitcoin.

take profit and because I like technology, I can control my bitcoin, as opposed to saving money in the bank.


unfortunately the only thing I buy directly with bitcoin are my cell phone recharges, so I buy other things I convert my bitcoins to Fiat, because my country has no place where I can use bitcoin directly


In the future all people in the world will use bitcoin because people are tired of banks and their politics that only destroy the lives of poor people


I fear regulation

This should not be called bitcoin research your questions are like here are elusive and the topic of this post should be called personal opinion on bitcoin if you want to do a real research you can read books

Aside from asking each and every users, you can simply take the general answer for that via Google search. Im not sure if you will come back here at this thread to read responses.

Since it's for "research purposes" and not on the purpose of collecting opinion by each person, what you need here is general answer.

Just want you to minimize your work. In that way you will not wait for people's response.

Bitcoin has given a positive value to the community, especially the economy is getting better
for a side income and I also use it as the safest asset store
I see the growth of bitcoin becoming clearer for the future because bitcoin members are increasing day by day, they are starting to recognize the existence of bitcoin
I have no problem holding Bitcoin so far, I feel comfortable with all the systems

To be frank with this question:

1. For investment purposes and with no doubt it will be our future currency.

2. Well I actually sell it of for Fiat and use the money (₦) to settle my bills at home and other personal properties.

3. I see bitcoin to be the future fiat like I earlier. Bitcoin is the way and with a great faith that it has come to stay.

4. I hold bitcoin regarding the value it will come up on and also what I fear most it's regulations.

hold funds in a deflationary currency that buys requires less coins to get you more stuff as time progresses.
as oppose to fiats deflationary currencies with requires more bank notes for the less stuff as time progresses.


income, pays for living costs, a little bit of day trading for fun


the technology has been stagnant for last few years. since 2015 the only alterations to bitcoin, have been to twist it to be able to work with a separate network that other coins use. but that separate network has issues and is not a blockchain and will inevitably turn into a banker2.0 network. so we just have to wait out untill devs realise that bitcoin network needs to concentrate on the bitcoin network. not tweaked to fit in with non blockchain networks.

regulations pfft.. they tried regulating alcohol into prohibition a century ago.. people still got drunk.. same with war on drugs, people still got high.
regulations are meaningless paperwork t make businesses into police officers monitoring their customers use.
people will simply just stop using those services if the policies of that service got too restrictive.

safety, well having a backdoor in bitcoin where devs can "inflight upgrade" anything they like without consensus is a safety concern. in IT industry its called a backdoor/trojan entry point. hopefully devs realise the thing that gives them a back door which they think is great for them, is bad for the network security and they plug the hole and go back to using real consensus

backlash from society. is just words. if americans dont like euro, they dont use the euro.. doesnt mean the euro is dead.
if people dont like bitcoin. they dont use it. doesnt mean it dead

environment. well many scream about electric use. but as of this year if we were still CPU mining it would need 10 trillion PC's to get bitcoins hash difficulty. or 330billion GPU's
but earlier this year it only needed 3.5million ASICS. and as of end of this year if the hashrate was the same only 1.4m ASICS
electrically
if a PC uses 0.25kwh thats 2500twatt
if an asic S9 uses 1.3kwh thats 40twatt
if an asic T15 uses 1.6kwh thats 20twatt

(though WAY LESS than 50% of mining is performed in china.. lets be devils advocate and assume 100% china)
china alone produces 6000twatt(5220twatt demand). and 13% if that goes to waste unused(780twatt waste)

so mining bitcoin does not even enter the demand portion. but is buying up the waste electricity. and only a small part of that waste electricity.
putting it to good use (its like buying up perfectly consumable fruit, that is just going to land fill due to it expiring)

and like i said thats just stats of one countries electric use

i invested in bitcoin years ago because of the ideology, how amazing it is transfering huge ampounts of money with split seconds in the comfort of your home. I see bitcoin in the near future becoming a major source of transaction in the financial world in the nearest future. Though price changes every now and then, I just feel thats because people are still getting to get comfortable and really understand bitcoin.

I will definitely come back and read all the responses. In fact, I keep checking every 30 minutes until I have a handful of people responding to me. By research I meant my bachelor thesis and for that purpose I needed some real people to get their opinions about the questions i presented. I will need to be collecting as many primary data as possible to include in my thesis, and hence like one other user said, i cannot really "google" to get the answers I need for my report.

But thank you to all the remaining members, who have put their efforts in answering!

The motive is to collect primary data, just like one would do going out on the street and collecting opinion. Where I live (finland), it is quite weird going out and asking questions to random strangers and I guess, I could put out an online survey collecting answers from friends, but I believe this is a rather "specific" place and in fact a more suitable place to gather primary information. I should have clarified myself better, my bad!

if I'm not mistaken you have already asked similar questions on a different newbie account
anyways will try and answer the questions:

1. bitcoin has shown fantastic results as a store of value and is one of the most profitable assets to invest in longterm
(that is if you haven't invested in it when the price was 17.000$)
besides it has a deflationary mechanisms inbuilt , add to that the continuous loss of coins that adds value as well
2.I use bitcoin to invest in different bankrolls, for some purchases of digital goods and some trading
I gamble with cryptocurrency, not only bitcoins , too
I get paid in bitcoins for doing online jobs
3.expecting it to be alive and well for years to come
waiting for the Lightning network fully operational so we may see bitcoin not only as a store of value but a valid payment system, competeing with the likes of Visa and Mastercard
4.my main concerns would be security issues, since the transactions are non reversible
it will be very difficult if not impossible to recover stolen or lost coins
another major concern is that there will eventually appear a "superbitcoin" , some coin that
will be better coded, more anonymous, has faster transactions- all in all a "bitcoin killer" if you wish
and that bitcoin will lose its market dominance and eventually, value

You're right. I posted the questions on reddit, but nobody's answering. Thanks for your help!

And if I have not made it clearer in my previous posts, thanks for all of your comments!

Now it's time to invest in a crisis, bitcoin is currently consolidating and will show which technologies should be left and which ones should be forgotten forever. As for me, people are preparing for earnings in virtual reality.

I invest in Bitcoin because it is one of my hobbies and it is also a potential investment.
I use Bitcoin as a valuable reserve when its price increases.
I do not see anything that contradicts Bitcoin has a beautiful future, I only believe in it.
Bitcoin built by Blockchain technology and this technology is safe so it can not hack.

Q1. What are your main reasons for investing on bitcoin? - Because it is the future of money/ the new currency

Q2. What do you use bitcoins for?- In p2p transactions primarily (financially)

Q3. Where do you see bitcoin headed going into the future? - Getting good and will  have a huge part in the economy

Q4. What are your main concerns while holding bitcoins? Do you fear the backlash from society, environment (online/offline), safety features, regulations, market factors, etc.?
-environmental factor and regulations as well as the volatility

1. actually the reason for bitcoin investment for me is, just to get profit in the future.

2. the use of bitcoin I've ever used is to buy goods whether it's digital or genuine.

3. seeing current conditions, bitcoin still has a chance, only for a longer time to be achieved.

4. security of the market of course

Because it is highly profitable because of its volatility, although for this year, it has been down.

For investment / payment of transactions.

I see bitcoin being the generally accepted cryptocurrency in the future so I don't have any fear.

yes i totally agree with you, study your own with talkpage google and books it will help you, the main reason to invest is making money.

1. I invested to bitcoin before without any main reason. I just felt like I have to buy it because my friend told me to do so.

2. Paying utility bills.

3. Far away from our expectation.

4. When I need to some cash and need to sell bitcoin the price isn't so good. hehe  ;D I'm used to anything now while I'm holding so let just happen what has to happen.

I appreciate all of you commenting. Some of your answers seem really helpful leading to my data collection. Thanks guys!

1. Blockchain is an interesting technology, I support decentralization and believe that cryptos will replace fiat eventually.
2. I mainly just hold bitcoins or exchange for fiat and then use the fiat, because there aren't many options for btc right now.
3. Bitcoin is probably headed towards being a standard that makes people believe in other cryptos. Kind of like gold for dollar before fiat.
4. I don't fear anything, but I really wish that it will be able to restore its value. I lost $1k on volatility, I just want to get it back and then I'm fine with whatever the price will be if it's relatively stable.

Q1. I can see the future in cryptocurrency ans blockchain
Q2. Sometimes i pay for a signal channels
Q3. In the future i see that a lot of people will use bitcoin in daily life
Q4. I afraid to lose profit

Because I can see potential in the future with bitcoin becoming either a currency which serves a niche at least, or a global standard of payments.


I'd say both for international payments because of its low cost, as well as a means to store wealth in the long run.


A lot more adoption will happen in the next few years on an individual level, with institutional investors coming in to try to speculate on the markets (whether that is positive or negative)


Definitely regulations. Especially regulation which on the surface is seems like some measure to protect investors but in fact is just a strategy for governments to make the process of transacting with bitcoin through fiat more difficult, but thankfully this hasn't happened yet in my country.

We hope for the best. I still believe that this will make sense later in need future.  It's good to have a coach and they will catulate and drops their details for u. 

investing in bitcoin is very safe, and even can provide greater profit than investing in gold or fiat, fiat is very bored and always stable. and at least gold always lasts all the time.

I use bitcoin for trading, investing, and even for transactions. and that we will realize in the future. when bitcoin has been accepted by the world.

When the end of 2017, Bitcoin reached the highest value in history, and I concluded that Bitcoin has the potential to create higher value in the future.

there is no fear in bitcoin, I am always proud to have bitcoin, and I never cared about public reaction.

The reasons for investing in bitcoin are obvious: this is the most HYIP topic and a lot of attention is focused on it. Just such investments give good dividends in the short term. The future of bitcoin is only bright and promising. Everyone who invests in bitcoin is worthy of praise. Here security is more difficult - everything is true until now.

I will help answer even though my knowledge is still a little about curyptocurrency
Q1. most people are interested because they want to make a profit.
Q2. I use bitcoin to trade and I also use it for future savings
Q4. my main problem, bitcoin is still not legal in my country

Q1. Firstly to make money we need to accept that all people are interested how to make money in                     
cryptocurrency.
Q2. I use bitcoin for my daily needs or use bitcoin in my convenience true online payment system
Q3. I see bitcoin future become successful and strong currency because is till believe in the future the new technology was the most powerful system use in the whole world.
Q4. Hoding of bitcoin have risk treat because front for the hackers but depends on the hodler's how to handle well their Bitcoin investment.

1.Ofcourse my reason for investing bitcoin is to earn money and to gain more profit which is also the main reason of everyone why they are here in crypto world.

2. I used my bitcoin for paying my bills online and for loading purposes.

3. I think someday the population using bitcoin will grow and grow because bitcoin will.become more profitable and usefull in the future.

4. When the market is falling and bitcoins value keep on falling.

.

It is better to search on Google and buy books about bitcoin for general answers on your listed questions.To be able to gather a definite information and reliable source of knowledge.For me, some of the answer you can read from your post are opinions of every individual understanding.

My reason investing my money in bitcoin because its digital gold and its much secure than gold. I am just plan to hold my bitcoin for long term because i am believe bitcoin will be new safe haven asset

Hi mate,

Q1 - I invest into Bitcoin as it is part of the technology and technology will raise in price over time
Q2 - For now I just hodl my Bitcoins and don't intend to panic sell even if the price is low.
Q3 - Personally, I see Btc reaching again its ATH sooner or later and even exceeding 20k.
Q4 - I was very stressed with the options I had for keeping my holdings. After having bought a Ledger nano S, all these fears vanished. 

1- Savings and Investment together.
2- Take Payment, Pay freelancers, run my business (web development).
3- It's a lot to explain, in short, I see Bright future for Bitcoin.
4- a lot to write - skipping this one.

1. this is a new interesting technology that attracts a lot of attention, and hence the money. 2. for different payments, it is convenient. 3. I think cryptocurrency will grow.  it remains only to wait for the development of real products on blockchain technology. 4. verification of addresses and careful introduction of the amount, distrust of phone applications for various payments

Guys, According to you, which sector in cryptocurrency world needs further research? What kinds of studies are necessary to better understand the world of cryptocurrency? Do you have any suggestions?

1. because I know that bitcoin has a big profit when we try to invest in bitcoin and cryptocurrency
2. I use it for investing and be my digital currency to buy and pay something
3. I see that bitcoin will be a good currency in the future

1.Of course like earn and try a new kind of activities.Get into a new wave.2.I use bitcoin as a long-term investment and as gifts for friends.3.I see bitcoin as an online currency for all kinds of transactions.4.I keep my bitcoins in a special wallet.I'm afraid hacking hackers and negative ismenia on the market.

I see bitcoin is good for use as an investment because it will provide many benefits, and I use bitcoin because in the future bitcoin will become the world's currency seeing in terms of the development of enthusiasts who are increasing after I learned about bitcoin then I am sure that in the future bitcoin has a good future and the most difficult is the difficult market movement to monitor.

Q1. I have not invested in Bitcoin since the summer of 2018. Now this is not a profitable business.

Q2. Bitcoin is now an investment

Q3. Bitcoin is not widely used and I think it will not be used in the future.

Q4. Now the cryptocurrency is collected in the hands of the whales and they manipulate the market, this has a very negative impact on investor confidence

Hey are you publishing your own paper or is this some college research anyway I will try my best to answer these questions. 1) The main reason for me was the interesting technology behind it, also it being decentralised currency also had a role. 2) I use it for diversifying my savings, also use it for payments of various stuff. 3) I believe bitcoins adoption shall rise, and so shall it's prices in the long run. 4) I don't fear anyone, I don't let the short term fluctuations effect me I hodl it for the long term.

Q1. When Bitcoin is sold at a very low price, it makes sense to invest in it in order to get a profit when it rises.

Q2. I invest in Bitcoin to make a profit and to use it as a payment instrument in the future.

Q3. First of all, Bitcoin will be used as a means of payment in transfers and when paying in online stores.

Q4. With bitcoin, I have no problems, only with altcoins.

I am working on a thesis on bitcoin, but my supervisor said the topic is too broad. My original topic was "will bitcoin replace fiat money?". Do you have any suggestions on what topics to pursue?

These are my answers in an orderly manner, firstly I invest in bitcoin because I believe bitcoin is the future currency of the world and I also believe I can make some good profits from my investment. Again I use bitcoin to trade among my peers and I believe bitcoin is heading for greatness in the near future. I hold bitcoins without thinking of the negative thoughts other people have.

Right now, Most people see bitcoin as an investment tool. If these people see that bitcoin is more accepted, they'll be glad they more for gaining profit than changing world's traditional financial system and nobody should blame them for their feelings. In the team of bitcoin supporters, there are varied thoughts not shared by all team members but it does not change the result.

1. I have never invested in bitcoin in the form of money, what I invested was the time to work with several ICO projects as a campaigner bounty.

2. I use bitcoin for my daily needs, pay tuition fees, and buy creative production factors such as design tools etc.

3. I believe that bitcoin is a real innovation for the global transaction system revolution

4. One of my concerns in holding bitcoin is hoping that market prices will continue to rise, not necessarily fast, the important thing is to be stable and not to go down so far. what I fear is when more and more groups are trying to destroy this industry such as government, banks, billionaires, etc.

We're same thoughts I never think negative thoughts about in bitcoin, cause I believe and trust that bitcoin it become future currency of the world, because of his benefits lot's of people around the world it change there life it become successful including me cause bitcoin give high profits in our investment.

Guys, do you know of any theoretical framework or models that I can base my bitcoin reseach on? My topic is about whether bitcoin will be a major currency adopted all around. I am struggling with forming a theoretical framework and models to test the research.

1. The main reason I invest in bitcoin is to get as much profit as possible
2. Yes, I only invest and invest
3. I consider bitcoin in the future to be accepted by all people as a means of exchanging transactions
4. The people around me still think that bitcoin is the same as you gambling online and this really makes me bothered, but this happened because of their lack of knowledge of bitcoin.

Do a paper on what is called "The Greater Fool Theory" and show why this is a perfect model for understanding Bitcoin

Thanks for letting me know. I will look into it.

This is a thesis for my Bachelor's degree for some of you who asked earlier.

You're welcome. You can also look at it from the perspective of Dunning-Kruger

Q1: I expect my investment will be x2, x3, ... x10
Q2: I use bitcoin to convert into my country's currency
Q3: Bitcoin is more known and is considered a risky investment channel but profit is quite high.
Q4: Mymain concerns while holding bitcoins is market information, good and bad news affecting short- or long-term hold decisions. I received many warnings from people around me, but I believe in my choice when deciding to hold Bitcoin as a future investment opportunity.

I see Bitcoin as the money for the future as I believe in the future more then 95% of the world's population will have access to the Internet and will be able to use Bitcoin as the global currency instead of any Fiat.

I trade daily at the moment and use as a medium of payment whenever I want to buy anything online and Bitcoin is accepted.

As I have wrote in my first question, Bitcoin is going to become the global currency very soon.
My fear is the slow in transaction approval. I hope something can be done about it really fast.

Cue ball is razvodilovo. The exchange took from you US dollars, and in return gave a candy wrapper. The US dollar exchange can not devalue, because The US Army will see this as a threat to national security and will begin a democracy to establish and change the government. But a wrapper exchange can devalue, because only losers who buy bitcoin and asics at space prices will complain for a wrapper.

Guys, can you all who have replied with your answers, permit me to use your responses in my thesis if they are relevant. I have had a couple of responses that I could use to draw a overall picture of people's expectation and perception about bitcoin. Please let me know as soon as you can. Thanks all!

A1) Most of people wants their profit. But some of us believe in Bitcoin's future. To good one.

A2) You can use it investment tool or P2P payment. Most of people is using it for investment because the value fluctate.

A3) My idea for Bitcoin; it will be used more than FIAT in 10 years. This is my idea off course. Someone doesn't believe that.

A4) Scalability is big problem. And energy consuming. Consuming is the biggest problem. And answer 1 is the another problem, I think. People doesn't want to HODL it. They are looking at profit chance. But they want to less for Bitcoin's future. It can rise up more than expected.

Q1) For money and wealth preservation.
Q2) To buy things out of my country since they have banned the bills of the other countries
Q3) Being widely used around the world as e-Gold.
Q4) Stake more bitcoins when the price it's low, Sell when the price is high, I can't fear a backlash from society since my own society it's using actively Bitcoin more than ever and it's the only way we can face the poor political decisions of my government.

1. i investing bitcoin for knowledge and profit. Gain knowledge about crypto, and take profit from it.
2. i use bitcoin for investing on other projects.
3. i see cryptocurrency will be used by peoples around the world if it has stable value in the future.
4. volatility, when we holding coin, we always afraid that our coin value will going down.

Good luck for your research

1. I like the concept of a global decentralized currency free from state and bank control.
2. To buy what I can-travel etc but only if I don't pay more just for using bitcoin.
3. I can see it heading for $100k in the long term-largely driven by speculators.
4. Continued feuding within the community, high cost and slow speed  transactions.

Hope this helps with your research and perhaps you could share your conclusions with the community on this forum.   

Hello, here are my answers:


Q1. What are your main reasons for investing on bitcoin?

- I heard it from one of my friend in 2015 and i really liked the system and idea. That's why i came into this world.

Q2. What do you use bitcoins for?

- I use bitcoin for making payments, i use it in my sportsbook account, i trade it.

Q3. Where do you see bitcoin headed going into the future?

- The bitcoin is something unique and will stay in this way forever.

Q4. What are your main concerns while holding bitcoins? Do you fear the backlash from society, environment (online/offline), safety features, regulations, market factors, etc.?

- My main concerns are; getting scammed and the bitcoins destroy. I mean the bubble thing. I would never see that one day i wake up and the price for bitcoin $1