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Title: Bitcoin is not needed but only for investment purposes Post by: KingsGambet19 on October 30, 2020, 01:43:44 PM Do we really need bitcoin?
Most of the members here will say yes but bitcoin is not needed unless you want to earn or lose your money. Bitcoin is a form of gamblmg that if you are new you can have high chances to lose money and that benefits others as it comes to them as profits right? If I am mistaken the growth of bitcoin market is because people are buying it even at the current price which is 13k$. See picture below, https://i.imgur.com/uhD4uj1.jpg I can see that there is a possibility that it will continue to grow and tha will help exisiting bitcoin holders to earn in it while others that are new could lose in their investment. This is one that bitcoin beimg featured and if you are a common user probably does not like to hold bitcoins or earn in this process. You could feel guilt about it when you think that others are investing it probably they are desperate to earn because they just being always told that bitcoin will going to continue the rise of bitcoin market price. This promise could deceive especially the new one like me. This is why I would like to know your reply if it is alright to earn profit with bitcoin coming from the new investors of bitcoin? The existing bitcoin holders bought bitcoin cheaper than the new investors that they can get bitcoin at higher price as of the moment. What do you think? Title: Re: Bitcoin is not needed but only for investment purposes Post by: DooMAD on October 30, 2020, 01:56:20 PM Bitcoin is a form of sovereignty. It places you in direct control of your wealth. Some people do use it to gamble, but such people could be considered to be missing the point.
I've never set up online banking, as I feel it carries too much risk. Traditional payment methods are not very secure. I had a conversation with my bank the other day about setting up a separate account with a limited sum of money in it that I could access online, while leaving the rest of my funds securely inaccessible. They told me that if I set up online banking, all of my accounts would be on there. They don't have a way for me to keep only a portion of my savings accessible online. How useless is that? But with Bitcoin, I can move funds from hotwallets to cold storage as and when I please. The level of security I maintain is entirely my decision. Title: Re: Bitcoin is not needed but only for investment purposes Post by: Oshosondy on October 30, 2020, 01:56:25 PM Do we really need bitcoin? It depends on you. But for me, I really need bitcoin, I bought it at $7350 in last year, and now increased to $13000. In the country I am, the value of my local currenciy is declining and the president saying possibly we will enter recession. The value of my country fiat is worthless, I prefer bitcoin which its value is best than fiats that is always devaluing and depreciating. Most of the members here will say yes but bitcoin is not needed unless you want to earn or lose your money. Bitcoin is a form of gamblmg that if you are new you can have high chances to lose money and that benefits others as it comes to them as profits right? Bitcoin is becoming more realistic now, bitcoin is not about losing, but you can go for it if you want to earn, if you take a look at fiat, ones in depreciate, it can not be recovered but continue to appreciate, but unlike bitcoin, very soon the all times high will be realized, it will get above $20000. Which means, it is not about losing if truly you are an holder. Title: Re: Bitcoin is not needed but only for investment purposes Post by: acener on October 30, 2020, 02:06:21 PM Do we really need bitcoin? It depends on us if we really need it but for me yes I need it to survive I earn online through cryptocurrency.Most of the members here will say yes but bitcoin is not needed unless you want to earn or lose your money. Bitcoin is a form of gamblmg that if you are new you can have high chances to lose money and that benefits others as it comes to them as profits right? If I am mistaken the growth of bitcoin market is because people are buying it even at the current price which is 13k$. I can see that there is a possibility that it will continue to grow and tha will help exisiting bitcoin holders to earn in it while others that are new could lose in their investment. This is one that bitcoin beimg featured and if you are a common user probably does not like to hold bitcoins or earn in this process. You could feel guilt about it when you think that others are investing it probably they are desperate to earn because they just being always told that bitcoin will going to continue the rise of bitcoin market price. This promise could deceive especially the new one like me. This is why I would like to know your reply if it is alright to earn profit with bitcoin coming from the new investors of bitcoin? The existing bitcoin holders bought bitcoin cheaper than the new investors that they can get bitcoin at higher price as of the moment. What do you think? I don't see Bitcoin or crypto as a form of gambling and yes the growth of market depends on the demand so basically the investors (we) are the one who put it on price who controls it. And yes the early investors would get profit it is their earning for being early in this field they trust it while others doubt it. New investors could still earn it all depends on their skills even the old investor could lose being here for a long time doesn't mean guaranty a profit for them. Title: Re: Bitcoin is not needed but only for investment purposes Post by: Boov on October 30, 2020, 02:10:23 PM Do we really need bitcoin? It depends on you. But for me, I really need bitcoin, I bought it at $7350 in last year, and now increased to $13000. In the country I am, the value of my local currenciy is declining and the president saying possibly we will enter recession. The value of my country fiat is worthless, I prefer bitcoin which its value is best than fiats that is always devaluing and depreciating. Most of the members here will say yes but bitcoin is not needed unless you want to earn or lose your money. Bitcoin is a form of gamblmg that if you are new you can have high chances to lose money and that benefits others as it comes to them as profits right? Bitcoin is becoming more realistic now, bitcoin is not about losing, but you can go for it if you want to earn, if you take a look at fiat, ones in depreciate, it can not be recovered but continue to appreciate, but unlike bitcoin, very soon the all times high will be realized, it will get above $20000. Which means, it is not about losing if truly you are an holder. The necessity of bitcoin was depend on the user or investor. In some other countries who legally adopted bitcoin used it as a mode of payment then bitcoin will become useful. Some are making it as an asset, as an investment that whensoever they need it they can have it, they can exchange it into fiat if necessarily. But at some point yes, bitcoin was can be iterate and classified as gambling on how we can able to grow our asset and even the risk. Title: Re: Bitcoin is not needed but only for investment purposes Post by: 20kevin20 on October 30, 2020, 02:20:20 PM Bitcoin is a form of gamblmg that if you are new you can have high chances to lose money and that benefits others as it comes to them as profits right? That perfectly fits the definition of an investment. Try investing a sh*tload of money in real estate as a beginner - you would get screwed up, as you would with any other investment you are new to. High risk does not make it a form of gambling. Luck is part of the game, but it is almost completely unsignificant. Bitcoin is an economy, not a form of gambling.If I am mistaken the growth of bitcoin market is because people are buying it even at the current price which is 13k$. See picture below, As long as people want to purchase it for $13k, they consider it is worth the price they paid for. Had there been no demand for Bitcoin at this price, it would have decreased substantially.You could feel guilt about it when you think that others are investing it probably they are desperate to earn because they just being always told that bitcoin will going to continue the rise of bitcoin market price. This promise could deceive especially the new one like me. Here is the thing I do not get: some people literally invest their lifetime savings into something a complete stranger from the internet told them about. You are on the internet. If someone trusts Bitcoin, it does not automatically mean you should as well. You have a brain. Make your own ideas, your own thoughts and invest in what YOU think has a future.This is why I would like to know your reply if it is alright to earn profit with bitcoin coming from the new investors of bitcoin? The existing bitcoin holders bought bitcoin cheaper than the new investors that they can get bitcoin at higher price as of the moment. I am honestly not sure what you tried to say here. Do you think that we, earlier hodlers, profit off newbies? There are a lot of people who buy high and sell low - the exact opposite of what they should do. Newbies almost always jump straight into hypes and sh*tcoins, losing a large part of their money.The fact that Bitcoin makes it possible so that only a signup and a few clicks are required to get started with trading makes BTC trading a very tempting action for newbies with zero experience, but you should know that once you trade, you are doing it on your own risk assuming your lack of knowledge. Title: Re: Bitcoin is not needed but only for investment purposes Post by: webtricks on October 30, 2020, 02:23:00 PM Do we really need bitcoin? Most of the members here will say yes but bitcoin is not needed unless you want to earn or lose your money. Bitcoin is a form of gamblmg that if you are new you can have high chances to lose money and that benefits others as it comes to them as profits right? When was the last time you were able to use money for whatever purpose you needed, say, gambling, whoring or purchasing a lambo without worrying about the regulations, taxes or Uncle Sam's agents? That's the degree of financial freedom bitcoin offers you! If your definition of bitcoin is limited to buying it on an exchange, holding it there and selling for profits then you most probably never understood what bitcoin really is! Trading is just one aspect of bitcoin because of its fluctuating value. But the anonymity and privacy person enjoys while paying/receiving bitcoin is what bitcoin is meant for. This is why I would like to know your reply if it is alright to earn profit with bitcoin coming from the new investors of bitcoin? The existing bitcoin holders bought bitcoin cheaper than the new investors that they can get bitcoin at higher price as of the moment. What do you think? You are labeling bitcoin as some ponzi scheme here but that's not the case. There is no need for you to go on guilt trip. Bitcoin price depends upon much more factors than just the time of purchase. Although prices were extremely under-priced in initial 6-7 years but post 2016, prices are highly fluctuating and cyclic. Bitcoin was worth same on Aug 22nd, 2017 and Mar 17th, 2020. It's not like if I buy bitcoin today, I can guaranteed sell it at the higher price after a year. IMO, price shouldn't be the first reason someone purchasing the bitcoin. Today I use bitcoin for 'n' number of reasons which I can't with regular fiat currency. Title: Re: Bitcoin is not needed but only for investment purposes Post by: Sapphire915 on October 30, 2020, 02:45:42 PM No. Bitcoin is highly needed by all individuals who knew more about it. I think the importance of bitcoin to our lives depends on how we believe and understand it as a digital currency. It has been praised by many and criticized sometimes, but it can't take away the trust of believers to keep on using it. Being characterized as an speculative bubble by nature, I believe that Bitcoin will continue to grow because of growing numbers of investors that keep on trusting the profits it give.
Title: Re: Bitcoin is not needed but only for investment purposes Post by: BrewMaster on October 30, 2020, 03:16:07 PM Do we really need bitcoin? Most of the members here will say yes when everyone disagrees with you then it means you are wrong not everyone else :D bitcoin is a currency and it is needed. it gives up the full control over our own pocket instead of relying on third party shady people called banks who are involved in a lot of illegal activities and money laundering. i can pay for anything on the other side of the world in matter of seconds and without any middle man or anyone capable of censoring it. if you don't see the need in that then you shouldn't even be in this forum! Title: Re: Bitcoin is not needed but only for investment purposes Post by: Upgrade00 on October 30, 2020, 03:40:35 PM This is why I would like to know your reply if it is alright to earn profit with bitcoin coming from the new investors of bitcoin? The existing bitcoin holders bought bitcoin cheaper than the new investors that they can get bitcoin at higher price as of the moment. This argument does not really hold much water. You're taking the assumption that Bitcoin is a bubble and the market collapses after each turn. While we had similar situation to this during the last bull run, I doubt that would be a regular cycle. As adoption grows I think Bitcoin would begin to maintain a more regular upward trajectory (although with intermittent rise and falls). Also there are more utilities to Bitcoin other than its speculative value; Not everyone buying is a new investor getting in due to fomo. Also, I could have bought bitcoins at $600 and sold at $2000 to someone who would go on to sell at the previous ATH, there is no perfect entry point (and quite frankly I believe there should be no exit point either). People buy and sell based on personal analysis. Title: Re: Bitcoin is not needed but only for investment purposes Post by: dothebeats on October 30, 2020, 03:41:27 PM To be fair with the question, I don't really do much with my bitcoin except keep it in a stash and just let it sit there idly. I do this because I want to safeguard whatever I earn and entrust it to myself alone. The appreciation in value, perhaps, is just a bonus on the side. Given my run-ins against banks imposing ludicrous maintenance fees every month on my passbook accounts with them, I just see to it that the frustration and questions I reserve every end of the year for waiving those is nowhere to be found when I keep whatever I earn in crypto. It's an easy avenue to comfort and peace of mind when it comes to MY money that banks cannot give me no matter how good their track record is.
Title: Re: Bitcoin is not needed but only for investment purposes Post by: Bttzed03 on October 30, 2020, 03:45:11 PM I guess you've never experienced moving your funds (in BTC) yet. You'll understand the importance of it once you realized you no longer need intermediaries that can hold/lock your funds.
This is why I would like to know your reply if it is alright to earn profit with bitcoin coming from the new investors of bitcoin? The existing bitcoin holders bought bitcoin cheaper than the new investors that they can get bitcoin at higher price as of the moment. You are labeling bitcoin as some ponzi scheme here but that's not the case. There is no need for you to go on guilt trip. Bitcoin price depends upon much more factors than just the time of purchase.Let's say you decided to become an online retailer. You'll to get in contact with a supplier of that product and buy from them. If he sold that to you at $5 per piece, you'll need to double or triple that price to cover the cost and earn something. Now my question is, would retailers like you feel guilty of profiting from your customers too? Another thing, there is real value in bitcoin. Don't think of it as money made out of thin air that you'd feel guilty when you trade it. Title: Re: Bitcoin is not needed but only for investment purposes Post by: sheenshane on October 30, 2020, 04:05:19 PM It's the freedom to have your own wealth.
I'm not sure what you exactly meant when you say Bitcoin is a form of gambling that when you're new you are more prone to lose. Probably it's true but we need to remember that in life we always gamble in order for us to survive just like when you go to business using fiat or whatever assets you have you're still taking the risk of the possibilities that you may succeed or lose. But I perfectly understand where you're coming from because I also felt the same way as you do when I'm also new to Bitcoin. However, there are lots of ways for us to keep earning Bitcoins aside from trading it by selling and buying we can also earn by rendering service to someone who can pay us with Bitcoin. In that case, you can save it in addition to what you already have a piece of advice to try to remove in your mind that Bitcoins is always about gambling instead it is a decentralized currency that has a concept of what everyone is aiming for. Title: Re: Bitcoin is not needed but only for investment purposes Post by: taufik123 on October 30, 2020, 04:11:52 PM anyone who enters the cryptocurrency platform and makes an investment must be prepared for all kinds of risks, including when as a new investor they experience losses and become profits for old investors who have bought at a price below it.
Bitcoin is not just an investment, but bitcoin is related to future technology that will be very useful in solving the current payment problem. Bitcoin is an important option to become a payment platform that is not centralized and transparent. Bitcoin is not regulated by the government or by any party. Bitcoin is currently also being adopted by paypal as an alternative to payment using bitcoin and other altcoins, crypto transactions can be done in paypal, so it's not just an investment. and need to remember, if you have entered into cryptocurrency you also agree with the risks. As the warning below: Quote from: indodax.com = https://indodax.com/ CAUTION Crypto asset trading is a high risk activity. Crypto asset prices are very volatile, where prices can change significantly from time to time. Please use extra judgment in making decisions to buy or sell crypto assets. Indodax does not force users to buy or sell crypto assets, as investments, or for profit-seeking. All crypto asset trading decisions are independent decisions by the user Title: Re: Bitcoin is not needed but only for investment purposes Post by: Gozie51 on October 30, 2020, 04:16:47 PM If you are only interested in profit and not in the development of the crypto industry, then yes, bitcoin in this case is only needed for investment. I think you have divided it in two ways, for those in it for the development/technology and for those in it for the gains in profit and investment but I think even with the classification of the people in technology, they also like the profit aspect to bitcoin because you can't be in the development side alone without wanting to profit and prosper financially. Title: Re: Bitcoin is not needed but only for investment purposes Post by: sunsilk on October 30, 2020, 04:56:03 PM You missed out the miners. Do you think that they're mining for the sake of profit only? maybe yes, maybe no. They make the network of bitcoin secure and at the same time, they earn through the reward that mining provides and through the confirmation of transactions.
With the description you have given, you're defining bitcoin as sort of ponzi which is not. Because bitcoin doesn't work like that, Title: Re: Bitcoin is not needed but only for investment purposes Post by: jamyr on October 30, 2020, 05:32:38 PM Do we really need bitcoin? Not if you don't agree with Satoshi's view of the state of Commerce in the internet. here is the link to illumination: https://bitcoin.org/bitcoin.pdf and I quote Quote from: Satoshi Nakamoto link=https://bitcoin.org/bitcoin.pdf 1. Introduction Commerce on the Internet has come to rely almost exclusively on financial institutions serving as trusted third parties to process electronic payments. While the system works well enough for most transactions, it still suffers from the inherent weaknesses of the trust based model. Completely non-reversible transactions are not really possible, since financial institutions cannot avoid mediating disputes. The cost of mediation increases transaction costs, limiting the minimum practical transaction size and cutting off the possibility for small casual transactions, and there is a broader cost in the loss of ability to make non-reversible payments for nonreversible services. With the possibility of reversal, the need for trust spreads. Merchants must be wary of their customers, hassling them for more information than they would otherwise need. A certain percentage of fraud is accepted as unavoidable. These costs and payment uncertainties can be avoided in person by using physical currency, but no mechanism exists to make payments over a communications channel without a trusted party. What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party. Transactions that are computationally impractical to reverse would protect sellers from fraud, and routine escrow mechanisms could easily be implemented to protect buyers. In this paper, we propose a solution to the double-spending problem using a peer-to-peer distributed timestamp server to generate computational proof of the chronological order of transactions. The system is secure as long as honest nodes collectively control more CPU power than any cooperating group of attacker nodes. Most of the members here will say yes but bitcoin is not needed unless you want to earn or lose your money. Bitcoin is a form of gamblmg that if you are new you can have high chances to lose money and that benefits others as it comes to them as profits right? What do you think? Let me return the question to you, What do you think? Title: Re: Bitcoin is not needed but only for investment purposes Post by: Krislaw on October 30, 2020, 05:38:48 PM With the way it isn't legalized in most countries, the real use case (payments) won't be put to use. It's only going to be used as mean of investment. It has always been about making profits right from start. Even the OGs only boast of the profit they make trading.
It's volatility has attracted people to want to make profit from it knowing well that it could lead to lose. Title: Re: Bitcoin is not needed but only for investment purposes Post by: hatshepsut93 on October 30, 2020, 08:02:45 PM Do we really need bitcoin? Most of the members here will say yes but bitcoin is not needed unless you want to earn or lose your money. Bitcoin is a form of gamblmg that if you are new you can have high chances to lose money and that benefits others as it comes to them as profits right? Gambling is a game of fixed and well-known probabilities, where players, often regardless of their skill, are almost always at a disadvantage. You can't say that Bitcoin is gambling, because the probabilities of it going up or down aren't really known to anyone, and there's no "other side" that benefits from someone's lose all the time. Being risky does not equal to gambling, after all, no serious person would call stock or commodity markets "gambling". Title: Re: Bitcoin is not needed but only for investment purposes Post by: target on October 30, 2020, 08:22:06 PM You have two questions here. Do we really need BTC? Well, if you have the wealth and you don't want its value to keep draining then BTC is your hedge to it and you can also make it grow with BTC. This is just one purpose. There are more reason why you need BTC, one is decentralization. Is it alright to earn profit with bitcoin coming from the new investors of bitcoin? Its in the market, when people bid they allow themselves to be vulnerable also to losing money. If early investors profit from the new ones then that is because they are earlier than you ;D Title: Re: Bitcoin is not needed but only for investment purposes Post by: stomachgrowls on October 30, 2020, 08:46:48 PM Do we really need bitcoin? Most of the members here will say yes but bitcoin is not needed unless you want to earn or lose your money. Bitcoin is a form of gamblmg that if you are new you can have high chances to lose money and that benefits others as it comes to them as profits right? If I am mistaken the growth of bitcoin market is because people are buying it even at the current price which is 13k$. See picture below, I can see that there is a possibility that it will continue to grow and tha will help exisiting bitcoin holders to earn in it while others that are new could lose in their investment. This is one that bitcoin beimg featured and if you are a common user probably does not like to hold bitcoins or earn in this process. You could feel guilt about it when you think that others are investing it probably they are desperate to earn because they just being always told that bitcoin will going to continue the rise of bitcoin market price. This promise could deceive especially the new one like me. This is why I would like to know your reply if it is alright to earn profit with bitcoin coming from the new investors of bitcoin? The existing bitcoin holders bought bitcoin cheaper than the new investors that they can get bitcoin at higher price as of the moment. What do you think? To tell you this where Bitcoin isnt deceiving everybody and it didnt really tend to invite people to engage with it.People are the ones who are willing to use it and of course its a side feature where someone can possibly earn by just holding.If you dont know or realize on how market works then you would really be ending up with this kind of perception where you do believe that people who bought early is on advantage and the ones are at disadvantage. Well, this is somewhat true but to think that you do have the free will not to buy or you could just wait a little bit more before making up any decisions.Unless if you are really that in a hurry or cant wait then you decide to buy even on peak price and since you do know that market price is volatile then you are pretty much aware on the risk. Bitcoin is a digital currency which should really be needed to be used and not to be stored but i cant blame out people on why they do keep it instead of actively spending for circulation and thats because people do see thats capable of making of when it comes to increasing price.So its not something new anymore. Title: Re: Bitcoin is not needed but only for investment purposes Post by: royalfestus on October 30, 2020, 08:53:04 PM Bitcoin is a form of sovereignty. It places you in direct control of your wealth. Some people do use it to gamble, but such people could be considered to be missing the point. Sometime when you visit a bank and the cashier check your account he could look at you again with surprise for such huge account balance, for a crooked cashier with your personal details you could be kidnapped and they demand ransom. Have read of similar cases in some part of the world but at the moment the use of bitcoin does cover all transaction or exchange and anonymity still hold many advantages.I've never set up online banking, as I feel it carries too much risk. Traditional payment methods are not very secure. I had a conversation with my bank the other day about setting up a separate account with a limited sum of money in it that I could access online, while leaving the rest of my funds securely inaccessible. They told me that if I set up online banking, all of my accounts would be on there. They don't have a way for me to keep only a portion of my savings accessible online. How useless is that? But with Bitcoin, I can move funds from hotwallets to cold storage as and when I please. The level of security I maintain is entirely my decision. Title: Re: Bitcoin is not needed but only for investment purposes Post by: Genemind on October 30, 2020, 09:07:08 PM Do we really need bitcoin? Most of the members here will say yes but bitcoin is not needed unless you want to earn or lose your money. Bitcoin is a form of gamblmg that if you are new you can have high chances to lose money and that benefits others as it comes to them as profits right? If I am mistaken the growth of bitcoin market is because people are buying it even at the current price which is 13k$. See picture below, https://i.imgur.com/uhD4uj1.jpg I can see that there is a possibility that it will continue to grow and tha will help exisiting bitcoin holders to earn in it while others that are new could lose in their investment. This is one that bitcoin beimg featured and if you are a common user probably does not like to hold bitcoins or earn in this process. You could feel guilt about it when you think that others are investing it probably they are desperate to earn because they just being always told that bitcoin will going to continue the rise of bitcoin market price. This promise could deceive especially the new one like me. This is why I would like to know your reply if it is alright to earn profit with bitcoin coming from the new investors of bitcoin? The existing bitcoin holders bought bitcoin cheaper than the new investors that they can get bitcoin at higher price as of the moment. What do you think? As for me the importance of Bitcoin depends on an individual's situation and its legality in a certain country. It's actually important for me because I'm earning through it and I'm able to use it to purchase my needs online and to pay for my necessities. Some people might not see its value and importance because of its legality situation in their country but Bitcoin has been playing a big role in our lives since its existence. Title: Re: Bitcoin is not needed but only for investment purposes Post by: kawetsriyanto on October 30, 2020, 09:08:44 PM Do we really need bitcoin? If you say so, I will like to answer YES, personally. I really need Bitcoin, not as a payment method (because in my country it is still not legalized for payment), but just for digital assets. That means putting my funds there to earn profits from it, by investing or event trading. Most of the members here will say yes but bitcoin is not needed unless you want to earn or lose your money. Bitcoin is a form of gambling that if you are new you can have high chances to lose money and that benefits others as it comes to them as profits right?.. Gambling? Well, ley's see the definition: Quote gambling is the wagering of money or something of value (referred to as "the stakes") on an event with an uncertain outcome, with the primary intent of winning money or material goods. .Seen from the definition of general gambling well, this condition may be included as gambling. But, personally, there is also something a little bit different from the term of the results. In Bitcoin, we can control our money to decide the right time to sell and buy with certain analyses and also strategy. And if we think that we still lose, we can hold it in order to avoid loss. But well, about earning profits, it can be got from the new investors or even the older one. The market is like a cycle where it will be always moving. Source: https://en.wikipedia.org/wiki/Gambling Title: Re: Bitcoin is not needed but only for investment purposes Post by: pixie85 on October 30, 2020, 09:18:57 PM Bitcoin is a form of gamblmg Gambling? I'm sorry but you lost me there when you compared Bitcoin to gambling. There are no similarities here. I can gamble with my coins but holding them has nothing to do with gambling! On the other hand even if you were right and bitcoin was only needed as an investment it gives it a purpose so it is needed. By saying it is needed only as an investment you're contradicting your statement about gambling. Title: Re: Bitcoin is not needed but only for investment purposes Post by: Oceat on October 30, 2020, 09:21:06 PM You probably haven't traded or buy something with Bitcoin that's why you can say such thing. Bitcoin is like our own money on the bank but the difference is you are the one who got full control of it wether you buy, sell, or exchange it for fiat. This is the difference between banking system and blockchain technology. You won't need any third parties to control your whole money/investment and this will ensure you that the risk is in all of your own hands. Bitcoin has a lot of useful things to use it's not just for gambling or investment.
Title: Re: Bitcoin is not needed but only for investment purposes Post by: Oasisman on October 30, 2020, 09:25:37 PM Do we really need bitcoin? What do you think? Have you ever asked why Bitcoin was created? Does Bitcoin really created for investment purposes? The last time I checked, Satoshi didn't mentioned about Bitcoin as an investment tool. Instead, Bitcoin was created to provide peer to peer payment system without no central authority like banks that's controlling it. Though, it's also true that a lot of people today considered Bitcoin as an investment tool, but it wasn't its primary purpose. So, my answer is Yes! Bitcoin is needed more than just an investment. Title: Re: Bitcoin is not needed but only for investment purposes Post by: goinmerry on October 30, 2020, 09:31:29 PM Different bitcoin enthusiast does have their own reason why they used bitcoin.
Disregarding the trend, bullish or bearish, either people want it to used as a currency or investment, to dump or to hodl it until death, we are not in place to tell others where they should use their bitcoin. Just continue and stick with your own purpose and don't mind the others. This is why I would like to know your reply if it is alright to earn profit with bitcoin coming from the new investors of bitcoin? The existing bitcoin holders bought bitcoin cheaper than the new investors that they can get bitcoin at higher price as of the moment. I think there's confusion here. Why think of that idea? You will earn profits because of your strategy. You don't need to mind those new investors that willing to take the risks of buying at the current price. Title: Re: Bitcoin is not needed but only for investment purposes Post by: KennyR on October 30, 2020, 10:11:42 PM Different people have difference of usage with bitcoin. Majority give importance to bitcoin as a form of investment.
Everytime there arises controversy whether bitcoin is an investment asset or alternate to traditional fiat. As of now it is multiple usage asset that evolved from a state of payment gateway. People who haven't used it for other needs than investing will tend to consider it an investment asset and not required for other needs. Title: Re: Bitcoin is not needed but only for investment purposes Post by: CarnagexD on October 30, 2020, 10:41:05 PM To be fair with the question, I don't really do much with my bitcoin except keep it in a stash and just let it sit there idly. I do this because I want to safeguard whatever I earn and entrust it to myself alone. The appreciation in value, perhaps, is just a bonus on the side. Given my run-ins against banks imposing ludicrous maintenance fees every month on my passbook accounts with them, I just see to it that the frustration and questions I reserve every end of the year for waiving those is nowhere to be found when I keep whatever I earn in crypto. It's an easy avenue to comfort and peace of mind when it comes to MY money that banks cannot give me no matter how good their track record is. I think what the OP meant of "needed" is in terms of purchasing goods and items, which clearly bitciin isn't suitable for at least for the meantime. But nevertheless, bitcoin is needed by many people, either as means of purchase with the peace of mind of security and anonymity, or because they want to earn. Most jobs right now rarely get you by, this is where cryptocurrencies, particularly bitcoin, comes in. Title: Re: Bitcoin is not needed but only for investment purposes Post by: CODE200 on October 30, 2020, 10:41:55 PM Do we really need bitcoin? Who would want to lose money in the first place?Most of the members here will say yes but bitcoin is not needed unless you want to earn or lose your money. Bitcoin has more advantages than being a form of investment. Convenience with transactions is something this technology is giving to its users but since there are still limitations of its usage, mjority of people are just looking in the perspective of it, being an investment. And I doubt once it is globally accepted as an alternative payment, people will still minly use it as means of investment.Its market value will not continue increasing, I do more anticipate a more stable market value in the future once mass adoption occured. Investing mhas risks, and investing into it is not by force. It is the decision of someone to engage with it. The price is indeed high but it doesn't need that much of an increase to generate profit. It is on the investor on how will he make things at its fullest. Title: Re: Bitcoin is not needed but only for investment purposes Post by: Shasha80 on October 30, 2020, 11:06:47 PM Everyone has different purpose regarding Bitcoin, for sure I really need Bitcoin. Because Bitcoin provides freedom to manage our own
finances. I actually need Bitcoin right now as a digital asset, because with Bitcoin I can make a profit. I also really hope to use Bitcoin as payment, but unfortunately my country still prohibits using Bitcoin as payment. So in the meantime I am using Bitcoin for investing, trading and gambling. Title: Re: Bitcoin is not needed but only for investment purposes Post by: Lorence.xD on October 31, 2020, 02:19:06 AM Bitcoin is a form of sovereignty. It places you in direct control of your wealth. Some people do use it to gamble, but such people could be considered to be missing the point. It is not just a form of freedom for financial stability. Other see it as a cash grab because they invest in it. Both are true in a way because most people who invest on bitcoin see its potential that it might revolutionize the world, although there is still no practical uses of bitcoin, time is slowly leaning towards it. The problem with banks is that they have a vague terms of services and most of their talk is technical jargon that gatekeeps people that wants to try to open an account, there is nothing wrong with opening a bank account, the problem is that they make an invisible wall that prevents people from accessing one.I've never set up online banking, as I feel it carries too much risk. Traditional payment methods are not very secure. I had a conversation with my bank the other day about setting up a separate account with a limited sum of money in it that I could access online, while leaving the rest of my funds securely inaccessible. They told me that if I set up online banking, all of my accounts would be on there. They don't have a way for me to keep only a portion of my savings accessible online. How useless is that? But with Bitcoin, I can move funds from hotwallets to cold storage as and when I please. The level of security I maintain is entirely my decision. Title: Re: Bitcoin is not needed but only for investment purposes Post by: gurjasmeetsingh on October 31, 2020, 03:45:09 AM Although this's only investment platform. But l think it's not only for investment, because lot of countries had adopt this currency & increase their revenue through crypto currency. It's not a gambling platform, in other word we can say it is a platform to get good profit in future. I think so.
Title: Re: Bitcoin is not needed but only for investment purposes Post by: daarul50 on October 31, 2020, 04:43:51 AM Do we really need bitcoin? Who would want to lose money in the first place?Most of the members here will say yes but bitcoin is not needed unless you want to earn or lose your money. Bitcoin has more advantages than being a form of investment. Convenience with transactions is something this technology is giving to its users but since there are still limitations of its usage, mjority of people are just looking in the perspective of it, being an investment. And I doubt once it is globally accepted as an alternative payment, people will still minly use it as means of investment.Its market value will not continue increasing, I do more anticipate a more stable market value in the future once mass adoption occured. Investing mhas risks, and investing into it is not by force. It is the decision of someone to engage with it. The price is indeed high but it doesn't need that much of an increase to generate profit. It is on the investor on how will he make things at its fullest. It is just ok to me those people treat bitcoin as investment, what is wrong with that? It is showing how multifunction bitcoin can be , its technology have inspired a lot of projects to appear to fix this world into a better and efficient world. My message to op kingsgambet19 : Dont be so skeptical like that. Title: Re: Bitcoin is not needed but only for investment purposes Post by: molsewid on October 31, 2020, 05:24:50 AM Do we really need bitcoin? Who will buy bitcoin to intended to lose money? A newbie who buys bitcoin intended to earn money, not to lose. But of course, earning from bitcoin is base on your trading skills. And it does not mean you bought bitcoin at a high price you can't earn from it. If you sell it at a low price, then it's your fault. But some people who buy at a high price will wait the right time to sell their bitcoin at a higher price to earn from their investment.This is why I would like to know your reply if it is alright to earn profit with bitcoin coming from the new investors of bitcoin? The existing bitcoin holders bought bitcoin cheaper than the new investors that they can get bitcoin at higher price as of the moment. What do you think? How could you know that your profit is from the new investor? Some bitcoin traders buy too at a high price because they know the bitcoin price will rise higher. A newbie should trade if they know the consequences of trading. You could lose money on trading if you sell it at a lower price, but if you have patience and wait the right time to sell your bitcoin, you can earn from it. Title: Re: Bitcoin is not needed but only for investment purposes Post by: goldade on October 31, 2020, 05:47:22 AM Of course, bitcoin is not needed only for investment purposes. I agree with you that many people now see bitcoin as a form of investment because of the profits they are liable to make but bitcoin is much more than that. Relegating bitcoin to only a form of investment defeats the true purpose of bitcoin as conceived by Satoshi.
Bitcoin was made as a currency that should be used just like every other currency in the world only that it is not controlled by the banks or the government. Trust me, bitcoin has and is being used as a currency to make payment for goods and services. I have, several times, received bitcoin as payment for my services. It is true this is not as popular as intended, it is only a matter of time before it become the most widely recognized currency in the world. Title: Re: Bitcoin is not needed but only for investment purposes Post by: adzino on October 31, 2020, 05:50:28 AM -snip- Why is it not okay? I don't see anything wrong with "new investors" making profit by investing in bitcoin. Are you trying to say it is because the price is too high to invest and a bit too late? Well no.. It is not too late and you can still invest in bitcoin even if the price is high. You don't have to invest in one whole bitcoin. You can always buy fractions of bitcoin and still make reasonable profits! If you still want to own whole coins, you can try investing in altcoins. And remember the price of bitcoin tends to increase in the long run, so its never late and you make profits in the long run as long as you don't sell it for a loss, no matter at what price you invest in.This is why I would like to know your reply if it is alright to earn profit with bitcoin coming from the new investors of bitcoin? The existing bitcoin holders bought bitcoin cheaper than the new investors that they can get bitcoin at higher price as of the moment. What do you think? Title: Re: Bitcoin is not needed but only for investment purposes Post by: LogitechMouse on October 31, 2020, 05:55:55 AM Do we really need bitcoin? Depend on how you see and how you use Bitcoin.You using it every day then its obvious that you need it. Most of the members here will say yes but bitcoin is not needed unless you want to earn or lose your money. Bitcoin is a form of gamblmg that if you are new you can have high chances to lose money and that benefits others as it comes to them as profits right? Every investment has risk and an investment that you invested your money on it without knowing anything and you just invested on it like throwing your money away is kinda gambling already.Bitcoin has been created for an alternative way of paying things but most of the people here sees Bitcoin as another form of investment so we need Bitcoin to earn money :D. If I am mistaken the growth of bitcoin market is because people are buying it even at the current price which is 13k$. See picture below, Trust.One word that explains why people are still buying even the price is at its highest already. Many investors especially these newbies are trusting it thinking that even they will buy at its highest now, they believe that in the long run it will give profit to them. Title: Re: Bitcoin is not needed but only for investment purposes Post by: imstillthebest on October 31, 2020, 06:04:54 AM on your description you said bitcoin can grow and i believe on that so why say why we are here to loose money ? instead say that we are here to earn a money and not only the old investor can earn money on here but new investor as well because there will always be new set of people that are going to invest . latest investor can also benefit on old investor when they want to sell and invest again because after they sell the price can decrease .
i fully agree with your title that btc is more like an investment and we dont need to force our self to use btc for other use because there are altcoins around . Title: Re: Bitcoin is not needed but only for investment purposes Post by: Janation on October 31, 2020, 06:41:46 AM Bitcoin should not be compared to gambling.
As stated by a thread in the past, gambling could lose all your money but by investing in cryptocurrencies, you won't be losing that much, and the money you will earn or lose will depend on how much the price change. With a low adoption right now, it is true that it is mainly for investment but there are people that don't just take it as an asset. Title: Re: Bitcoin is not needed but only for investment purposes Post by: GeorgeJohn on October 31, 2020, 07:05:34 AM Everyone needs bitcoin because since everyone likes money and also always I need of money, I believe people who are lovers of bitcoin really in need of btc because they some persons prefers bitcoin respect of fiat currency, because with cryptocurrency especially bitcoin you can adventure into any investment platforms provided that bitcoin is in existence.
Title: Re: Bitcoin is not needed but only for investment purposes Post by: charlesmichel1 on October 31, 2020, 07:07:20 AM Only you can decide if you really need Bitcoin. It's neither gambling, not "get rich quick" scheme. It's more like the technology aiming to change the world.
Title: Re: Bitcoin is not needed but only for investment purposes Post by: Furious 7 on October 31, 2020, 08:41:57 AM Bitcoin should not be compared to gambling. As stated by a thread in the past, gambling could lose all your money but by investing in cryptocurrencies, you won't be losing that much, and the money you will earn or lose will depend on how much the price change. With a low adoption right now, it is true that it is mainly for investment but there are people that don't just take it as an asset. The difference that is very far in an instant in the game of gambling funds will lose a lot and for us 70% will lose at gambling especially not a professional at gambling. Investments in the long term will still benefit, I think if this cryptocurrency will be more widely adopted in the future so that it can be used as a valuable asset such as gold etc. this cryptocurrency works. And I hate it when people associate it with ponzi schemes. Title: Re: Bitcoin is not needed but only for investment purposes Post by: darewaller on October 31, 2020, 09:08:10 AM Just do what you think is right for you. I do say that Bitcoin is an investment, but it’s not only that, the fact that it has simplified transaction and made peer-to-peer without the need for a middleman makes it worth being called a method of transaction.
You can decide that it is an investment only because of the risk, but Bitcoin has really helped a lot of businesses to be able to hire talents and pay them direct without much stress, and it’s also helping talents to receive payment direct and not worry much about losing a bunch of it to unnecessary fees, etc. This has been the case for me, and I am happy that Bitcoin was created at this time. Title: Re: Bitcoin is not needed but only for investment purposes Post by: Becky666 on October 31, 2020, 09:41:28 AM For anyone who need total freedom from the world of the oppressor will totally need the Bitcoin which is decentralized in nature. Bitcoin is needed by all irrespective of the individuals involve, Bitcoin as a currency need understanding and those who understand the technology can either choose to use it for investment purpose of for holding. Also, Bitcoin can be use for online purchases; these made it more convenient for internet users. Personally, i used Bitcoin for two purpose: for investment (including gambling) and for online purchases.
Title: Re: Bitcoin is not needed but only for investment purposes Post by: michellee on October 31, 2020, 11:05:55 AM I need bitcoin because bitcoin gives me a way to make money from the internet.
Do you need bitcoin? That is my question to you. If you think you don't need bitcoin, then you don't have to use bitcoin. But most people here believe that bitcoin is the new opportunity for them to break out the wall, which not many people out there can see. We still work with crypto (bitcoin and altcoin), and we know the risk (uptrend and downtrend), but we try not to complain why bitcoin can be like that. We only keep trying what we can do. It's not about the new investor or old investor because I believe that we have the same chance to make money. If you talk about the old investors can make a big profit than the new investors, that is because they are the early adopters of bitcoin, which don't even think that bitcoin can jump to be like now. But the new investors can be like the old investors IF they want to find what methods will work for them. Title: Re: Bitcoin is not needed but only for investment purposes Post by: AniviaBtc on October 31, 2020, 11:08:44 AM But in life, we need to invest, so therefore, bitcoin can make us successful and it can be the answer to our prayers.
You just need to consider its features, its decentralized nature, volatility, and complexity in the market. It is not only for investment purposes, it can also be a payment tool that you can use in a transactions that you are going to perform. Bitcoin is powerful nowadays, it can be in lined with fiat and it can be better with fiat soon. Although bitcoin do lack a lot of features just like fiat, it has surely a lot of potential to become the world's currency. Title: Re: Bitcoin is not needed but only for investment purposes Post by: error08 on October 31, 2020, 11:29:35 AM ~ I can see that there is a possibility that it will continue to grow and tha will help exisiting bitcoin holders to earn in it while others that are new could lose in their investment. This is one that bitcoin beimg featured and if you are a common user probably does not like to hold bitcoins or earn in this process. You could feel guilt about it when you think that others are investing it probably they are desperate to earn because they just being always told that bitcoin will going to continue the rise of bitcoin market price. This promise could deceive especially the new one like me. This is why I would like to know your reply if it is alright to earn profit with bitcoin coming from the new investors of bitcoin? The existing bitcoin holders bought bitcoin cheaper than the new investors that they can get bitcoin at higher price as of the moment. What do you think? That might be true, people who treat bitcoin as an investment may just want to make a profit in the end, they buy bitcoin at a cheaper price and hoping to sell it at higher price. Whoever bought bitcoin in the early adoption will be rich if they are holding it for years, you can call it the privilege for early adopters, we can't argue or excoriate about that, as they believe in bitcoin from the beginning. However, whatever your purpose involved in bitcoin, what matters is the main purpose of bitcoin as peer-to-peer electronic cash system. Title: Re: Bitcoin is not needed but only for investment purposes Post by: DoublerHunter on October 31, 2020, 12:06:17 PM ^ Probably you have a false impression with bitcoins and even sense that there's a little part in you that you regret investing in BTC but I am not sure of it. Though your idea of investing in bitcoin is still new however bitcoin world is like a sports league whether you are a new or a pro you still need to compete in order for you to gain. To become a pro in the long run though failures will always be around you always need to fight and play the game until you win in sports they don't look at you as a rookie if you are able to outperform the others including the pros and become profitable on your chosen field. And when you say bitcoin is only an investment then you only chose to become an audience in any sports game just sitting around watching others as they compete and become profitable in this industry.
Title: Re: Bitcoin is not needed but only for investment purposes Post by: kotajikikox on October 31, 2020, 12:28:45 PM Do we really need bitcoin? i don't know in you but for me?yeah i Need Bitcoin badly because this has been part of my life for years now and i am happyknowing what Bitcoin is all about. Quote Thanks for the graph.Quote This is why I would like to know your reply if it is alright to earn profit with bitcoin coming from the new investors of bitcoin? The existing bitcoin holders bought bitcoin cheaper than the new investors that they can get bitcoin at higher price as of the moment. What do you think? Imagine that you can use this coin to pay for your transactions and bills while you hold and the volatility may bring you more than enough of you are wishing? Title: Re: Bitcoin is not needed but only for investment purposes Post by: coolcoinz on October 31, 2020, 01:03:48 PM Bitcoin has more uses than simple investment. It is being used for purchases,you can actually charge a debit card or a phone with it and use it for payments, you can order food online or buy electronics, you can of course spend it on mining hardware. Now, is it needed? I'd say the demand on the market shows that it is. Is it only needed as an investment? Again the answer is no, because companies are starting to treat it like backup money, or emergency funds that cannot be seized.
Title: Re: Bitcoin is not needed but only for investment purposes Post by: noorman0 on October 31, 2020, 01:29:03 PM Do we really need bitcoin? Yes, I need it. With bitcoin I can work and trade with people all over the world. I never thought in my life that I would experience working overseas without having to go abroad thanks to bitcoin. This shows that bitcoin is not just for investment.Bitcoin is a form of gamblmg that if you are new you can have high chances to lose money and that benefits others as it comes to them as profits right? No, bitcoin is not a form of gambling. Bitcoin is a thing, gambling is an activity. Bitcoin is just a more flexible substitute for fiat money. Even though bitcoin was never created, you would still think of objects that have value and fluctuate as a form of gambling.You may mean that trading is a form of gambling, but I would also say no. Title: Re: Bitcoin is not needed but only for investment purposes Post by: Distinctin on October 31, 2020, 02:03:36 PM People have chosen Bitcoin because they'll find it more beneficial and helpful to the community. Bitcoin is not only for investment but if you can take a look at how it uses to buy stuff, bills payment, have their own banking freedom and control, and many more? That is how it serves to purpose, maybe you don't see it because you might be blinded enough to see the reality.
We are adopting already to digitalization, come to see how we get benefits from Bitcoin. Title: Re: Bitcoin is not needed but only for investment purposes Post by: rodskee on October 31, 2020, 02:26:26 PM People have chosen Bitcoin because they'll find it more beneficial and helpful to the community. Bitcoin is not only for investment but if you can take a look at how it uses to buy stuff, bills payment, have their own banking freedom and control, and many more? That is how it serves to purpose, maybe you don't see it because you might be blinded enough to see the reality. But the sad part is Bitcoin is mostly uses as Investing materials nowadays mate and only few uses this to circulate.We are adopting already to digitalization, come to see how we get benefits from Bitcoin. Look how much bitcoin is being use to buy and sell crypto and not to buy product or pay their bills. Bitcoin has more uses than simple investment. It is being used for purchases,you can actually charge a debit card or a phone with it and use it for payments, you can order food online or buy electronics, you can of course spend it on mining hardware. Now, is it needed? I'd say the demand on the market shows that it is. Is it only needed as an investment? Again the answer is no, because companies are starting to treat it like backup money, or emergency funds that cannot be seized. depend in which country you locate and what banks offers us.Mostly it is the government that hinders people from using this. Title: Re: Bitcoin is not needed but only for investment purposes Post by: Smartprofit on October 31, 2020, 02:34:10 PM But in life, we need to invest, so therefore, bitcoin can make us successful and it can be the answer to our prayers. You just need to consider its features, its decentralized nature, volatility, and complexity in the market. It is not only for investment purposes, it can also be a payment tool that you can use in a transactions that you are going to perform. Bitcoin is powerful nowadays, it can be in lined with fiat and it can be better with fiat soon. Although bitcoin do lack a lot of features just like fiat, it has surely a lot of potential to become the world's currency. Bitcoin is needed for the following tasks: 1) Capital preservation. I have very high inflation in my country. How can I keep my savings? Buy dollars or euros? But creating a CBDC could devalue fiat currencies. Borders between countries may be closed. This could be due to a pandemic (Covid-19) or other external (internal) causes. I will not be able to exchange dollars (euros) for local currency. 2) Transnational payments. In a revolution or war, it is very difficult to transfer money abroad. It's easy with Bitcoin. 3) Transfer of capital by inheritance. Bitcoin is easy to inherit. You just need to transfer the seed (12 English words) to the heir. Title: Re: Bitcoin is not needed but only for investment purposes Post by: Casdinyard on October 31, 2020, 03:02:37 PM People have chosen Bitcoin because they'll find it more beneficial and helpful to the community. Bitcoin is not only for investment but if you can take a look at how it uses to buy stuff, bills payment, have their own banking freedom and control, and many more? That is how it serves to purpose, maybe you don't see it because you might be blinded enough to see the reality. Using it on daily living is only limited to countries wherein it is euther legal or 'neutral' but to places wherein it is prohibited, things are not the same. It is a digital currency therefore its main purpose is to be used as a mode of payment but since they cannot do something about it, using it as an investment is their only option to benefit from its advantages. If you are referring to decentralization in "having their own banking", the only difference is lack of third party network. OP is not blinded by the reality, it is just that Bitcoin is more often used as an investment which makes it more of such thing than to serve its main purpose - being a digital currency. Title: Re: Bitcoin is not needed but only for investment purposes Post by: Latviand on October 31, 2020, 03:25:57 PM No, bitcoin is not only needed for investment purposes only.
Bitcoin can be used as a tool to engaged in a more digitalized nature or environment. The thing is that it is only a primarily used for an investment purposes because its price is volatile in the market and can give you a lot of profit. It is just the same as gold that you can store and hold for a lot of time, the difference is that the price of Gold is increasing slowly, while bitcoin is very volatile in the market. Title: Re: Bitcoin is not needed but only for investment purposes Post by: Gotumoot on October 31, 2020, 03:54:33 PM Bitcoin doesn't just give us profit it gave us freedom from being centralized,
Of course most of the people in this Forum would say yes to your question but remember that not all of us are here for the profit we are here for the future that Bitcoin gave us. The future of freedom but most of us already forgot it in order for Bitcoin to be on mainstream they would allow centralized wallet to hold their funds. Title: Re: Bitcoin is not needed but only for investment purposes Post by: kentrolla on October 31, 2020, 04:26:25 PM Bitcoin is an absolute gem there are several things you can't ignore it, BTC can't be controlled by anyone except its users well that's the beauty of it.
Well the main purpose is to avoid third party payment and BTC is doing great things to help the community, BTC has came to dominate this new era. You can pay bills, make use of whatever you want and now it has become business as an investment nothing more, it gives you many opportunity to earn money. Title: Re: Bitcoin is not needed but only for investment purposes Post by: Lordhermes on October 31, 2020, 04:34:14 PM Bitcoin are used in different ways by different persons which are traders and investors, actually newbies brings in new money as well as profit to already existing investors and their circulation of money continues in that way. However, investors never gamble with bitcoin whereas trader does and that's the whole point op never understands.
Truly, bitcoin had been needed in a very average enterprise like the buying and selling, gambling on casinos, and many more but in few basics, some countries are still banning crypto which excludes them from needing bitcoin but only for their digital investment, so the rate at which bitcoin need is less than the rate at which its invested. Title: Re: Bitcoin is not needed but only for investment purposes Post by: Ratash on October 31, 2020, 04:45:58 PM Bitcoin is a currency like the others it grow and some times fall i invest in bitcoin when the price is far from bitcoin potential i started crypto on 2017 and i did not start investing in bitcoin until recently because at that time a lot of altcoins had potential to replace btc as the top currency and where are they now ? bitcoin proved its value over the years.
Title: Re: Bitcoin is not needed but only for investment purposes Post by: AicecreaME on October 31, 2020, 05:04:18 PM Do we really need bitcoin? Most of the members here will say yes but bitcoin is not needed unless you want to earn or lose your money. You've just contradicted what you had said. That's the point of the whole story, you need it because you gain something from it, simple. Bitcoin is a form of gamblmg that if you are new you can have high chances to lose money and that benefits others as it comes to them as profits right? I don't know why many people said this over and over again but you technically didn't lose your money whenever the price of Bitcoin goes down. You'll only lose your money if you bought in $13,000 and convert it into fiat again when it hits $10,000 because of its price fluctuations, that is normal because of its volatility. In short, the reason why you'll lose your money is because of how little knowledge you have about Bitcoin, and not because Bitcoin is a bad investment. 1 BTC is still 1 BTC no matter what price it will have. Also, before engaging in cryptocurrency, be sure to have extra patient and you'll have the profits that you're looking for. Title: Re: Bitcoin is not needed but only for investment purposes Post by: coolcoinz on October 31, 2020, 05:10:22 PM Bitcoin has more uses than simple investment. It is being used for purchases,you can actually charge a debit card or a phone with it and use it for payments, you can order food online or buy electronics, you can of course spend it on mining hardware. Now, is it needed? I'd say the demand on the market shows that it is. Is it only needed as an investment? Again the answer is no, because companies are starting to treat it like backup money, or emergency funds that cannot be seized. depend in which country you locate and what banks offers us.Mostly it is the government that hinders people from using this. Of course in some countries it's banned or highly restricted, but we're talking about its general worldwide use, not country-specific. Fortunately more than 90% of the governments do not restrict Bitcoin users in any way. You really have to look to find a country where you are not allowed to use it. Title: Re: Bitcoin is not needed but only for investment purposes Post by: Doulkis on November 01, 2020, 01:49:16 PM Blockchain is a good career if you know what it is all about and if you are sure that you will enable to handle it. it can be compared to forex. iIt amy seem like a simple thing but there are so many sides to t and a lot of associations that you need to understand before you can decide to call tin your career. If you cannot get into the system then it is not for you. You need to take some time to make yourself good at it. Blockchain can guarantee you a lot of salary as there are very few blockchain professionals and more air need every single day. it is a very good option for me.
Title: Re: Bitcoin is not needed but only for investment purposes Post by: pawanjain on November 01, 2020, 03:18:01 PM It actually depends from person to person and what he/she is using bitcoin for.
Many people use bitcoin to pay for the services and bitcoin makes their work easier as they don't have to pay the merchant their fiat currency doing international transfers. Many people use bitcoin for gambling and bitcoin makes it easier to deposit and start gambling. Many people use it for trading. Many people use it as an investment and yeah the early investors do get their benefits and to be honest, they should get their benefits since it's because of them that the price has come to this level. So it depends on how we are using bitcoin. Title: Re: Bitcoin is not needed but only for investment purposes Post by: dimonstration on November 01, 2020, 03:20:35 PM Most people use it for investment purposes but the real need of bitcoin is not in the investment sector amd people may realize it later at some point but until that volatility nature is going to keep the bitcoin alive and also will make more people to get interested on it by bearish and bullish cycle on the cryptocurrency market. It will be better if it can serve it's purpose as a way of doing transactions conveniently. Though many prefers to use it as an investment now as many were already able to earn huge from trading or even holding it. But soon once supplies reach l, it's purpose of becoming a medium of transactions will be popular since many by that time knew and many sectors or companies already knew it. Title: Re: Bitcoin is not needed but only for investment purposes Post by: Yatsan on November 01, 2020, 10:17:03 PM The sense of call for the need to have Bitcoin relies and depends upon the type of individual you really are because if for you, you do not literally see Bitcoin as a need in your life, then so be it. But there are certain type of individuals that patronize and believe that gaining Bitcoin is a must have due to the perspective they have in life and they foresee Bitcoin as a way of achieving such goals in their lives. Bitcoin if you will be literal on defining it is really not a need but a want. It is because you can live without Bitcoin which is making it not a need. But since you know what Bitcoin can give you, you are WANTING the thought that you must obtain Bitcoin because of your own free will. But on the other hand, people do still consider Bitcoin to be a NEED because that is how they perceive Bitcoin on their lives. So Bitcoin being a need relies on the individuality of us people and not in general.
Title: Re: Bitcoin is not needed but only for investment purposes Post by: Rexler on November 01, 2020, 10:29:14 PM Do we really need bitcoin? Of course we need bitcoin, who doesn't? Although the importance depends on the user, in some parts of the world where there's no restrictions on the use of bitcoin it is been used for payment purposes, why some use it as a form of investment, imagine buying it at $3000+ when it dipped earlier this year and selling it at the current price right now which is $13,000+ and its still showing no sign of slowing down, it is undoubtedly one of the best investment one can make nowadays, just buy more bitcoin :D. Title: Re: Bitcoin is not needed but only for investment purposes Post by: Assface16678 on November 01, 2020, 11:02:32 PM Do we really need bitcoin? Of course we need bitcoin, who doesn't? Although the importance depends on the user, in some parts of the world where there's no restrictions on the use of bitcoin it is been used for payment purposes, why some use it as a form of investment, imagine buying it at $300+ when it dipped earlier this year and selling it at the current price right now which is $13,000+ and its still showing no sign of slowing down, it is undoubtedly one of the best investment one can make nowadays, just buy more bitcoin :D. Title: Re: Bitcoin is not needed but only for investment purposes Post by: finaleshot2016 on November 01, 2020, 11:14:22 PM We really need bitcoin right now because it's already playing a huge part in different countries' economies.
If you invested in it then you'll know it's profitable and has huge opportunities to grow money. Bitcoin is a game-changer and might be a stepping stone for implementing a cashless society. Title: Re: Bitcoin is not needed but only for investment purposes Post by: MCobian on November 01, 2020, 11:30:25 PM Don't because our country doesn't accept Bitcoin as payment, it doesn't mean we don't need Bitcoin. Try to remember again,
what we have got from Bitcoin. For me Bitcoin is very necessary in this life, because there are so many benefits of Bitcoin that we can feel. Among other things Bitcoin provides freedom, transparency, privacy and profit. I believe many people will benefit from Bitcoin. So I don't agree that Bitcoin is said to be unnecessary. Please don't lie to yourself, admit Bitcoin is needed. Title: Re: Bitcoin is not needed but only for investment purposes Post by: 24Kt on November 01, 2020, 11:31:49 PM Do we really need bitcoin? Of course we need bitcoin, who doesn't? Although the importance depends on the user, in some parts of the world where there's no restrictions on the use of bitcoin it is been used for payment purposes, why some use it as a form of investment, imagine buying it at $300+ when it dipped earlier this year and selling it at the current price right now which is $13,000+ and its still showing no sign of slowing down, it is undoubtedly one of the best investment one can make nowadays, just buy more bitcoin :D. Maybe you mean $3000+ not $300+ here, but this year we only dipped at about $5k+ not $3k. Anyway, bitcoin has different usage to every crypto user. Either he can use it directly to pay for his expenses or just hodl to wait for the time to sell it in a much higher profit. But as more merchants are accepting crypto as payment method, many crypto users will see this as progress as they can pay directly to the merchant and not that he will convert first his crypto to fiat. Title: Re: Bitcoin is not needed but only for investment purposes Post by: tanjiran on November 01, 2020, 11:43:09 PM Most people use it for investment purposes but the real need of bitcoin is not in the investment sector amd people may realize it later at some point but until that volatility nature is going to keep the bitcoin alive and also will make more people to get interested on it by bearish and bullish cycle on the cryptocurrency market. Bitcoin is functional, depending on the person using it. Everyone also has different tendencies, some people consider bitcoin to be effective as a currency or alternative payment because it is not limited by space and time and is decentralized, on the other hand, there are those who consider it ineffective because of its high volatility.See? we don't have to argue about this. just find which function is the most effective and we can maximize the benefits according to individual needs. Title: Re: Bitcoin is not needed but only for investment purposes Post by: Boov on November 02, 2020, 03:03:57 AM Most people use it for investment purposes but the real need of bitcoin is not in the investment sector amd people may realize it later at some point but until that volatility nature is going to keep the bitcoin alive and also will make more people to get interested on it by bearish and bullish cycle on the cryptocurrency market. We have our individual reason why we are here in this community of cryptocurrency. We have our own intentions and interpretation when it comes to bitcoin. Some treat bitcoin as a source of income, generating money and investment. For me i belong to this kind of people where i do treasure bitcoin. I couldn't think that bitcoin was nothing, or not needed but knowing that this is for investment only will completely defined what bitcoin was. Title: Re: Bitcoin is not needed but only for investment purposes Post by: Alucard1 on November 02, 2020, 07:19:23 AM Bitcoin is a form of gambling that if you are new you can have high chances to lose money and that benefits others as it comes to them as profits right? I don't get it why most of the people compared cryptocurrency to gambling, is it because cryptocurrency means good for investment and investment is much related to gambling because both things are risky and it is hard for us to earn easy money for both things. Bitcoin is not only for investment or gambling, there are many things we can have using bitcoin, there are many things that bitcoin can help us in our daily lives, it is not all meant to be risky. Title: Re: Bitcoin is not needed but only for investment purposes Post by: JuSayCo on November 02, 2020, 07:24:02 AM When you are going to ask millennials like me, my answer is definitely yes. In this modern world where digitalization is highly pushed all over the world, I believe that bitcoin is highly needed as part of the economy growth and to better improve the Country as a whole. Bitcoins great features can really help every individuals to have a financial freedom aside from the advanced digital payment method that it gives to us. And I believe that people in the Blockchain industry really need it.
Title: Re: Bitcoin is not needed but only for investment purposes Post by: reliable on November 02, 2020, 07:36:33 AM Do you not read the news, Bitcoin slowly being adopted as payment in fact recently paypal has added it to their platform. For now, it can only be used as investment but in time, we'll see it used it restaurant's, also some of the restaurant in Canada already been using Bitcoin. So this year expect more businesses and Institutional investors coming in. Sooner in coming months we will hear more adoption news of bitcoin by various fields as after pandemic its going to be more of crypto in use as a payment service. With one giant starting to accept we will have smaller players as well who will start to accept and slowly it will improve over period and this will be the best thing to happen. Title: Re: Bitcoin is not needed but only for investment purposes Post by: witcher_sense on November 02, 2020, 08:52:29 AM Most of the members here will say yes but bitcoin is not needed unless you want to earn or lose your money. Bitcoin is a form of gamblmg that if you are new you can have high chances to lose money and that benefits others as it comes to them as profits right? No, no, you have got it all wrong. Bitcoin is not the way to earn or lose your money. It is money and exists despite all other money and the opinions of other people. Whether or not you need bitcoin, it still doesn't care and continues to be what it is coded to be. Gambling is one of the use cases of bitcoin, not the process of earning it. When you invest in Bitcoin, you have a high chance to protect your money from inflation. And finally, when you lose your keys and, at the same time, access to your money, you are contributing to the bitcoin economy by making bitcoin more scarce, valuable, and desirable for others. Title: Re: Bitcoin is not needed but only for investment purposes Post by: jademaxsuy on November 14, 2020, 12:57:46 AM Most of the members here will say yes but bitcoin is not needed unless you want to earn or lose your money. Bitcoin is a form of gamblmg that if you are new you can have high chances to lose money and that benefits others as it comes to them as profits right? No, no, you have got it all wrong. Bitcoin is not the way to earn or lose your money. It is money and exists despite all other money and the opinions of other people. Whether or not you need bitcoin, it still doesn't care and continues to be what it is coded to be. Gambling is one of the use cases of bitcoin, not the process of earning it. When you invest in Bitcoin, you have a high chance to protect your money from inflation. And finally, when you lose your keys and, at the same time, access to your money, you are contributing to the bitcoin economy by making bitcoin more scarce, valuable, and desirable for others. Title: Re: Bitcoin is not needed but only for investment purposes Post by: romero121 on November 14, 2020, 01:53:12 AM Maybe the value grows as a result of limited supply to the increased demand. It hasn't got the real-time usage as people expect, but the usage of bitcoin exists. Everything grows from the scratch, and if this hasn't got any need it could've gone out of usage at the very beginning. The need for the elimination of third party involvement is possible through bitcoin. Only the continued usage can cause anything to be used long term. This is where people used it, and more people are starting to use it knowing the good. Slowly stores have begun to accept bitcoin, and this is increasing around the globe.
How will you define a stock, if you examine you'll get to know every stock backed by the company shares. When we talk of bitcoin it has the technology backing, and the usage that counting regularly will make it more worth every day. Title: Re: Bitcoin is not needed but only for investment purposes Post by: Rexler on November 14, 2020, 06:14:55 AM Do we really need bitcoin? Well, I can't speak for others cause everyone has their reason why they need bitcoin, some need it for gambling while some see it use it for investments, but personally I do need bitcoin for earning online and also making transfers all over the global without stepping outside of my house, bitcoin just makes life much easier for me, honestly I don't have a bank account right now, but I'm still able to pay for good and service without a bank account , so yeah I do need bitcoin. This is why I would like to know your reply if it is alright to earn profit with bitcoin coming from the new investors of bitcoin? The existing bitcoin holders bought bitcoin cheaper than the new investors that they can get bitcoin at higher price as of the moment. For new investors I think most times they make the mistake of buying at the top that's why they always lose their money at the first start, the existing holders are smart investors because they bought bitcoin at a cheaper price,probably it dipped to $5k usd as at March, those who bought the dip, bitcoin has triple their profit, it might hit the ATH this year, although no one knows, but I have a feeling it might, there's still much hype around bitcoin now. Title: Re: Bitcoin is not needed but only for investment purposes Post by: ChrisPop on November 14, 2020, 06:37:45 AM Romero said it right. Bitcoin is used for various transactions, but in the present it is viewed as an investment opportunity more than a way to make payments. The majority of people are driven by greed, whereever there is a pile of gold they will go and try to seize it.
I want to emphasize that this perception is NOT BAD for the development of Bitcoin as a currency. It is a necessary step in the evolution. After all, it is great that people see it as a scarce resource and try to stack as many sats as possible.😉 Title: Re: Bitcoin is not needed but only for investment purposes Post by: Meysa_richa on November 14, 2020, 01:14:19 PM I don't know what will happen in the future, but in my personal opinion Bitcoin is currently more than 50% only used for investment or trading. Even though Bitcoin actually has the purpose of being the corpse of digital money, I don't think its use is yet optimal.
Title: Re: Bitcoin is not needed but only for investment purposes Post by: panganib999 on November 14, 2020, 01:40:34 PM I don't know what will happen in the future, but in my personal opinion Bitcoin is currently more than 50% only used for investment or trading. Even though Bitcoin actually has the purpose of being the corpse of digital money, I don't think its use is yet optimal. That's because of limitation regarding its usage as an investment. Also to which it is more beneficial for the users. Bitcoin provides convenience to the users when it comes on transactions but it is also a profitable investment. Given the aspect of profit, it is not surprising to know that more users are into investments than casual users of such digital currency. And the possible reason regarding this concern is that people are having second thoughts of spending their bitcoin on daily basis since it has a tendency to generate profit as its market value is increasing. But to whether being a currency or an investment, it does depend on the user itself on how will such technology be used. Title: Re: Bitcoin is not needed but only for investment purposes Post by: goldade on November 14, 2020, 01:55:49 PM Do we really need bitcoin? Most of the members here will say yes but bitcoin is not needed unless you want to earn or lose your money. Bitcoin is a form of gamblmg that if you are new you can have high chances to lose money and that benefits others as it comes to them as profits right? If I am mistaken the growth of bitcoin market is because people are buying it even at the current price which is 13k$. See picture below, https://i.imgur.com/uhD4uj1.jpg I can see that there is a possibility that it will continue to grow and tha will help exisiting bitcoin holders to earn in it while others that are new could lose in their investment. This is one that bitcoin beimg featured and if you are a common user probably does not like to hold bitcoins or earn in this process. You could feel guilt about it when you think that others are investing it probably they are desperate to earn because they just being always told that bitcoin will going to continue the rise of bitcoin market price. This promise could deceive especially the new one like me. This is why I would like to know your reply if it is alright to earn profit with bitcoin coming from the new investors of bitcoin? The existing bitcoin holders bought bitcoin cheaper than the new investors that they can get bitcoin at higher price as of the moment. What do you think? As much as bitcoin can also be used as a form of investment to make money, I believe it was not originally created for that. I'm sure that's not the purpose Satoshi had in mind when he created bitcoin. Satoshi created bitcoin as a currency (meant to be spent) that is out of the control of the banks and government. He created it so that the masses can have control over their own money. Although the acceptance of bitcoin as a means of payment is currently not widespread in the mainstream world, we now have merchants and companies that accept bitcoin which means it can be spent. I believe it is only a matter of time before bitcoin gets wholly adopted in the mainstream world and it's used for payment of goods and services Title: Re: Bitcoin is not needed but only for investment purposes Post by: ampu on November 14, 2020, 02:02:01 PM I think Bitcoin is used according to the needs of our users and that we can use Bitcoin as a convenient global means of payment, transfer money and accumulate them. Whatever the purpose, demand for Bitcoin is getting higher right now. Many people want to own Bitcoin and that is the motivation to increase value for Bitcoin.
Title: Re: Bitcoin is not needed but only for investment purposes Post by: taufik0911 on November 14, 2020, 02:14:12 PM in my opinion what is needed is not bitcoin but a system of blockchains that can break the costly centralization of financial losses and can be manipulated easily and arbitrarily printed
in blockchains all transactions are open and anyone can find out the amount of supply easily in contrast to financial centralization, which we ourselves may not even know how much money is circulating in our country Title: Re: Bitcoin is not needed but only for investment purposes Post by: Inkdatar on November 14, 2020, 02:46:57 PM I think Bitcoin is used according to the needs of our users and that we can use Bitcoin as a convenient global means of payment, transfer money and accumulate them. Whatever the purpose, demand for Bitcoin is getting higher right now. Many people want to own Bitcoin and that is the motivation to increase value for Bitcoin. This is true it depends on a person the needs of bitcoin since others will just invest and wait for the price to grow in the market. As we can observe others are having a regret not knowing early about Bitcoin. A lot of users are adopting it because of its benefits that can get. So it is not only for investment purposes the use of bitcoin we can also easily exchange it for fiat. I can see in the future a lot of improvement will happen in bitcoin. Title: Re: Bitcoin is not needed but only for investment purposes Post by: Yamust on November 14, 2020, 02:55:50 PM If Bitcoin is for investment purposes therefore Bitcoin is needed. For whatever Bitcoin is to be used like in savings, mode of payment, trading or investment Bitcoin is needed. And ofcourse why many people are holding bitcoin is to earn profit from it, so bitcoin is needed especialy by many investors. And I think if you know the timing of when to invest and when to sell it you will not lose from it.
Title: Re: Bitcoin is not needed but only for investment purposes Post by: celot on November 14, 2020, 04:38:01 PM Just people or investor mind when seeing bitcoin dump but after bitcoin reaching to higher price their mind have change and take care with bitcoin as good investment choose for the future. Usually happen when every one have lost much money from bitcoin investment because buy bitcoin during have higher price and back down, later will make issues bitcoin is scam and working like gambling. I think you wrong decision when buy bitcoin during have good price why not waiting more when bitcoin down to invest. Not all investor know what is the best time for entry to buy bitcoin and sell it, just take care when bitcoin have higher price is time to buy and panic moment when bitcoin down, exactly is correction for bitcoin before back to higher price, after wrong moment when to buy bitcoin they make bad statement with say bitcoin is scam or have gambling site working.
Title: Re: Bitcoin is not needed but only for investment purposes Post by: NeilLostBitCoin on November 14, 2020, 06:13:58 PM If Bitcoin is for investment purposes therefore Bitcoin is needed. For whatever Bitcoin is to be used like in savings, mode of payment, trading or investment Bitcoin is needed. And ofcourse why many people are holding bitcoin is to earn profit from it, so bitcoin is needed especialy by many investors. And I think if you know the timing of when to invest and when to sell it you will not lose from it. Yes perfect timing is really in need for us not to lose so much nor missed the pump period and end to sell it lower than the amount that we bought it, so I suggest that we should wait for the perfect time maybe not now since the bitcoin price is high, wait for some dump then buy it. since we consider bitcoin as investment, then wait for the good timeTitle: Re: Bitcoin is not needed but only for investment purposes Post by: TedMosby on November 14, 2020, 07:40:10 PM We do really need bitcoin if we use it as a currency instead of an asset.
IMO, bitcoin is a medium to transact your money. You shouldn’t expect bitcoin will works for you, to give you more money, when the price is up. It should be a peer to peer electronic cash system like you read it on the title of bitcoin whitepaper. For me, bitcoin doesn’t have underlaying values, except the trust aspect and the community itself. Title: Re: Bitcoin is not needed but only for investment purposes Post by: senya-com on November 14, 2020, 08:18:02 PM A thing needed for just investment purposes for sure goes financial pyramid one day. Main ideas of the crypocurrencies are user-friendly safe transactions, actually definitely not investment at all. If it turns to investment tool only, it will lose any of its advantages.
Title: Re: Bitcoin is not needed but only for investment purposes Post by: oktana on November 14, 2020, 10:28:07 PM Call it what you call it, but bitcoin is a currency which most people think of as a money making scheme. Bitcoin is needed and "NOT" for investment purposes, but as a digital currency which it really is.
Title: Re: Bitcoin is not needed but only for investment purposes Post by: BuNga_cute on November 14, 2020, 10:48:34 PM For me Bitcoin is very necessary, because its value is higher than the fiat currency in my country. Therefore I prefer to keep my wealth
in Bitcoin than in a bank. Another thing that makes me need Bitcoin can be used as a source of income, if we have good analytical skills, can get profit from trading Bitcoin. For countries that legalize Bitcoin as payment, can use Bitcoin to buy the things we want, so for some countries Bitcoin is not only a digital asset for investment purposes only. Title: Re: Bitcoin is not needed but only for investment purposes Post by: Quidat on November 14, 2020, 10:58:21 PM For me Bitcoin is very necessary, because its value is higher than the fiat currency in my country. Therefore I prefer to keep my wealth in Bitcoin than in a bank. Another thing that makes me need Bitcoin can be used as a source of income, if we have good analytical skills, can get profit from trading Bitcoin. For countries that legalize Bitcoin as payment, can use Bitcoin to buy the things we want, so for some countries Bitcoin is not only a digital asset for investment purposes only. Its too risky for someone to put their life savings in Bitcoin.Yes, its your own decision but we know that this isnt a guaranteed thing that would last forever unlike on using up those traditional banks in terms of security and insurances.Nothing beats out on banks when it comes to that but people do love that decentralized way thats why bitcoin is created.This is just an option to take yet we can engage with it without the need of leaving our traditional investment or live savings in banks. Never ever consider this step because you wouldnt know on what would happen in future.Its better to be secure and dont go all in. Title: Re: Bitcoin is not needed but only for investment purposes Post by: fishbonez11 on November 15, 2020, 12:24:29 AM Call it what you call it, but bitcoin is a currency which most people think of as a money making scheme. Bitcoin is needed and "NOT" for investment purposes, but as a digital currency which it really is. Bitcoin now is more like an asset, people used to accumulate more of it than spending it. Knowing how the price have gone so far, you can call bitcoin an investment since it gives you profit since the first time you have it. I believe that Bitcoin should not be viewed as an investment because there are more special use for this new kind of currency. People still doesn't realize it and still doesn't use its full potential, but few years from now, it will serve its real purpose. Title: Re: Bitcoin is not needed but only for investment purposes Post by: oktana on November 15, 2020, 01:09:22 PM Call it what you call it, but bitcoin is a currency which most people think of as a money making scheme. Bitcoin is needed and "NOT" for investment purposes, but as a digital currency which it really is. The reason why people think of it as an investment opportunity is they really thought of bitcoin to increase its price, even more, higher than today and that's not impossible because 1 year before today, no one has speculated we gonna experience such a rich price that we experience today. We need to know that everything seems possible when it comes to bitcoin's price and that's is all about it. both digital payment and investment opportunity is possible whether you like it or not. No one is arguing that bitcoin cannot be seen as an investment. It can be seen as an investment. But at the same time, youust remember that bitcoin's primary goal is to be a currency. It's just like mobile phones were created for communication. And now, people are using it for other things. However, the main aim of the phone was to keep you connected to others. Same case for bitcoin. Title: Re: Bitcoin is not needed but only for investment purposes Post by: nemey on November 15, 2020, 02:02:15 PM I agree, bitcoin is not an item, just a medium for investment. because bitcoin is intangible. we can only sell and buy online and make a profit from there. So we don't really need this bitcoin for life, only we need it to earn.
Title: Re: Bitcoin is not needed but only for investment purposes Post by: Kez1817 on November 15, 2020, 02:09:14 PM Do we really need bitcoin? What do you think? For me Yes, not just as investment but also as a method of online payments. Bitcoin is very useful but it is up to if you need it or not, if you want to use it or not. You always have a choice but I want to tell you that bitcoin is a very important digital currency nowadays. Title: Re: Bitcoin is not needed but only for investment purposes Post by: bounceback on November 15, 2020, 02:17:40 PM During bitcoin still not available for currency payment in my country I think bitcoin only for investment purposes and not be transaction currency payment, do not know when bitcoin become legal payment transaction and have new method for accepting payment with bitcoin or altcoin. Just bitcoin purposes for investment only and earn profit when bitcoin have lower price time to buy and bitcoin break to higher price is time for selling. Government not try to legal bitcoin because they look have big risk with other investment impact, exactly with bank as saving money for money people become risk when moving money saving from the bank become bitcoin digital investment assets because every on want to increase their money not only for saving like bank.
Title: Re: Bitcoin is not needed but only for investment purposes Post by: FlightyPouch on November 15, 2020, 02:27:07 PM I don't know what will happen in the future, but in my personal opinion Bitcoin is currently more than 50% only used for investment or trading. Even though Bitcoin actually has the purpose of being the corpse of digital money, I don't think its use is yet optimal. I think 50% is just too low, maybe it is high as 70% to 90% since people are usually holding them rather than using them on the daily basis to pay for food or something like that. It is not that all of them wanted to, they have no choice since most of us can't actually use bitcoin directly so they are still stuck on using fiat. Title: Re: Bitcoin is not needed but only for investment purposes Post by: GDragon on November 16, 2020, 08:41:06 PM I need bitcoin to make profit from it to be frank, but it does not mean that I use bitcoin for my own purposes. Because of its function, I really need bitcoin and the blockchain was really a great technology we were supposed to develop. It depends on how everyone uses bitcoin, especially when he uses it for businesses, so it's not just for investment purposes.
Title: Re: Bitcoin is not needed but only for investment purposes Post by: lienfaye on November 16, 2020, 08:54:40 PM Its true that people became interested to bitcoin because its a form of investment due to fluctuation. But its not just that, I personally need bitcoin for the reason it gives me convenience on sending money without hassle unlike remittance and most especially giving me security to store my money without bank intervention.
When it comes to new investors making the price high for buying I think its their decision on when to engage themselves. Its not necessary to buy at peak if you can wait for correction. Its about timing and knowledge about what you're getting into. Title: Re: Bitcoin is not needed but only for investment purposes Post by: Twentyonepaylots on November 16, 2020, 10:55:00 PM People like me who are in bitcoin because of investment fills up the majority of bitcoin enthusiasts, but that does not mean that that's all there is to it. We have people who found a safe sky at bitcoin because of it's nigh ominpotence when it comes to remittance and security. We also have the visionaries that believe bitcoin is the currency of the future. So don't generalize.
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