Bitcoin Forum

https://i.imgur.com/4s3lMps.jpg
 source (https://twitter.com/DocumentingBTC/status/1580189423077294080?t=tJW6qQPae5QInyIDqKONZA&s=19)

Bitcoin is Better

One can actually proof this over and over again on the uniqueness of bitcoin as the best and preferable source of an asset and a digital currency that has every tenderness to solve the demanding economic challenge with applicable solutions on many areas in its application, gold is good but bitcoin is a better form of an asset trending whereby everyone want to learn about bitcoin, fiat currency couldn't solve the inflation problem and is being affected to the worst extent where recession now becomes a threat on world economy, here the illustration gives the impression of bitcoin being identified as the choicest and most preferred means to invest with, its both the combination of an asset and a currency in which either gold or fiat couldn't serve and that's why you discover that bitcoin has achieved a milestone worthwhile only within a couple of years.

What you benefits with Bitcoin against fiat or gold

While in addition to what the above illustration gives about bitcoin, i will like to add and give these five quogent points along with what difference bitcoin comes with.
 
1. Decentralization of assets
2. No KYC required for investment
3. Digital and secured form of asset and currency
4. High profitability with less risk
5. No inflation tolerance or price manipulation

Bitcoin has so many advantages over gold as an asset. The purchase of gold needs physical contact between the buyer and the seller which might lead to insecurity. To buy bitcoin is easy and secured both the buyer and the seller don't even see each other which is a safe method. During inflation fiat currency becomes scarce but Bitcoin can not be scarce

Not everyone has the awareness of Bitcoin concept,this makes some people feel that gold is more valuable than Bitcoin. Payment of goods and services across boarders can only be achieved with Bitcoin because of it decentralized system. In the next 30yrs. I guess Bitcoin will solve so many problems in the economy sector.

2. Yes, only if you do P2P transactions
3. Secured only if you know what you're doing concerning wallet security
4. High potential profitability, with lessrisk
5. Yea bitcoin definitely has been doing great in the recent inflationary economy  /s

This is debatable and depends on how you acquire your coins. Decentralized exchanged don't require KYC. Face-to-face meetings also. Mining also has no KYC. But if we switch our focus to centralized exchanges, OTC trading, or certain investment platforms, it becomes harder to avoid KYC.

Depends on each person and the way they handle the keys that secures their coins. On a protocol-level, it can be highly secure. In reality, it depends on the knowledge of skillset of the bitcoin owner.

Bitcoin, just like the whole crypto market is very volatile. Investing in bitcoin has proven to be a profitable investment long-term. But in the short-term that is not always the case. And there is risk involved in all investments, especially the volatile ones.

Bitcoin is susceptible to market manipulation and big whales and bag holders can steer the price in their favored direction. If you add media influence and policy changes to the mix, you get a pretty dangerous combination. No inflation tolerance, really? Should we look at the charts for the last 3 months? The one for the last 6 months isn't better either.   

bitcoin does not waste energy. it uses the energy that would be produced anyway which previously was simply not sold.

by bitcoin as a new industry buying up more energy helps support power production to pay off its initial build costs earlier thus enabling them to expand sooner

with that now explaining that bitcoin is not a waste.. bitcoin is the sole network that uses the most energy to secure the network. it costs alot for a malicious pool to try to do a chain re-org. thus it secures the immutability of transactions

also with the cost of mining as a underlying (non-zero) value to the market price because no one would dare sell a bitcoin for a couple digits these days as no one can acquire bitcoin so cheap(unlike its forks/alts). this support is good for bitcoin as it adds to the store of value protection

bitcoin offers many things.
imagine you are a poor country earning a couple dollars a day salary. you cannot just put a bit of your salary towards buying Tesla or Apple shares as you have to buy whole shares just to become an investor. yet people can invest into bitcoin with as small amount as they like buying decimal amounts of bitcoin

bitcoin also has its own features where its deflationary, unlike things like tesla or apple shares. so its a better investment all round

bitcoin is better than gold asset(not commodity) feature
yes gold used for jewellery and electronics)commodity market) will always have its place. but buying gold to hoard for investment(asset market) has less features compared to bitcoin
storage, delivery, security is better with bitcoin. again if you wanted to buy a 1oz gold coin and get it delivered and secure stored at your home costs alot more then just buying 0.08btc

golds value window is a 900-2000 zone which the price wiggles within where as say 0.08btc currently is about $1.6k which is golds price
but that 0.08 has seen a 5 year value window of 320-5.6k

meaning the potential up-down of spread means more opportunity to profit by playing the swings
..
personally i have been able to travel to different countries without needing to hold paper cash in my suitcase or a debit card i can just remember a dozen words and not worry about border confiscations

i have given amounts away without having to set up bank account transfers or having to give over my bank details to others to debit my account

but the main thing is this
if i kept my fiat as fiat from 2012. the amount of groceries would not buy me as many groceries today.
if i stored it as gold and used the silly "cash for gold" services again les groceries today
but with bitcoin i can sell out even today and still buy alot more groceries than i would years ago. bitcoin is a better store over all long term than any investment i had in the past, whether its gold, shares, basic bank savings account or paper bank notes under the pillow. bitcoin is better than all

comparing bitcoin to other crypto.
their lack of underlying value. their speculative risk. their lack of utility makes them less desirable

Bitcoin is good but not the best! We have many other technically advanced cryptocurrencies available in the market. They are cheaper, more anonymous and faster than bitcoin. The only thing bitcoin is good at is the global network of miners. People have invested millions of dollars to setup their mining operations across the world. They are the backbone of bitcoin and because of them bitcoin is the strongest cryptocurrency in the market if we look at its demand and supply.

That's why it is preferable in most of the cases where cryptocurrency is required. The liquidity of bitcoin is highest among its peers. That's what it is, really!

More power to bitcoin but . .
Bitcoin isn’t unique in terms of financial asset. It is just another form of asset which is still measured against fiat currency so that we can value it.

I would have called it unique if bitcoin was bitcoin and everything else had no value if not measured in terms of bitcoin.

For example, tomorrow I may purchase private island and declare it nation and start my own currency in the form of stones and shrimps. That would not make them unique isn’t it? And not for very long!

Bitcoin is art of best coding and algorithm which got valued because we started trading it by means of its “fiat value”. Just like oil, just like gold, nothing special?

In a way bitcoin price has been performing very well. If you think about it, when the invasion began the global economy started crashing. Bitcoin crashed too. But bitcoin crash ended in first week of June whereas the world economy continued dumping. In other words in the past 5 months despite all the inflation most of the world is experiencing, bitcoin price has been relatively stable.

"Gold is just bitcoin that can't be sent over the Internet" - Some random dude

Bitcoin is all these things, but it's essential as long as people use it as currency, which is currently uncommon, because first of all "bad money drives out good", and second there's lack of education. Mostly technical education. To use bitcoin as a decentralized, private, peer-to-peer, instant, cheap cash system, you need to setup a Linux computer, install a Bitcoin client, install a Lightning client, put some money on the latter, leave the computer running all day etc. etc. etc., so even if possible, it kinda requires some good hours to comprehend the important parts.

And yeah. People don't have time. Their responsibilities asides. I don't doubt there will be more educated user base in the future, though.

Is countered by centralized third party services.


AS stated going through p2p do not require KYC but going through centralized company, we are required to pass KYC to do transaction.


Blockchain transaction is secure , sure!


Not as high as altcoin though but Bitcoin market has lesser risk.  Still Bitcoin market is riskier compared to other non-crypto investment such as Real State.


Bitcoin price is still affected by several powerful people and institution so it is not entirely true that there is no price manipulation here.

Unlike any other Crypto Currency Bitcoin is the Most Valuable Asset that anyone could have, It is volatile, unpredictable but it does not lose it's value. as of now we are seeing Downtrend of it's price due to the supply and Demand.

Just to make it simple, Bitcoin is the most preferred choice among cryptocurrencies because it is the father of all cryptocurrencies, its dominance in the market is obvious and the market is proven that it is following a cycle that is dependent on its halving event.  In short, Bitcoin offers security and peace of mind as long as the person holding the coins has patience. 

Number 1 and 2 are tricky here, it's true Bitcoin itself is decentralized which can't be controlled by any third parties and you don't have to submit your KYC if you trade Bitcoin peer to peer or using decentralized exchange. But most people are hold their coins on centralized exchanges which kill the purpose of Bitcoin, the exchange aka third parties has a control over their coins and they will ask the user KYC since it's their rules.

Number 4, Actually Bitcoin has a high risk since there's no guarantee the price will always increase when 4 year cycle happen, it's just a story.

4. If you compare bitcoin to altcoins this statement seems absolutely true but if you compare bitcoin to gold and fiat it is only 1/2 true, bitcoin offers high return and very high risk compared to gold and fiat, the higher the return the higher the risk, this is inseparable.

5. This statement is only partially true, Bitcoin has also been affected by inflation but not really too much and it is doing better than other assets like fiat which continues to depreciate relentlessly. But in my opinion, bitcoin is the most manipulated asset, even though it is decentralized it still suffers from price manipulation.

Likely an exception. Most of the traders prefer a volatilty, convenient, fast way of appreciating their asset like bitcoin so to do trading on market with high volume they register there. OP probably didnt see that. Bitcoin is decentralized outside these cex and that should be prioritize which the government seeks not to happen but do a regulation about it.

1.I'm OK with this statement, but can you show me a clear benefit of decentralization?
2. So you are saying that buying BTC doesn't require KYC? Have you ever tried to buy BTC without KYC? This seems far away from the truth.
3. This sentence sounds pretty blank to me. Are you saying that digital assets are more secure than non-digital assets? This is another wrong statement, if you ask me.
4. High profitability always comes with high risk. There's no way around this.
5. The Bitcoin price was manipulated in the past. Maybe it can be manipulated in the future. Who knows?
I'm not criticizing Bitcoin, I just want to show you that many people have false expectations about Bitcoin. Many people think that Bitcoin is a magical investment, that will make them rich overnight.

Yeah, I think it's base on individual preferences, majority of us here doesn't want to complicate things, so either we just buy on CEX nad left it there (although this is a bad practice), or just HODL on a wallet that we have total control of private keys and mnemonic phrases.

As for bitcoin being the preferred choice, it's easy, the gold standard of crypto, the top one, and the prime mover.

And for those who have at least seen a full cycle, we know how big it's going to be, and the potential profit that we are going to make resulting in economic freedom.

Yes, when i particular thing is not identified with a particular person, place or thing, bitcoin is pseudoanonymous because Satoshi an anonymous person is believed to have invented it, decentralized in such away that it work by p2p on a decentralized blockchain network.


Just as many have discussed from the thread, bitcoin can be private without KYC only if the person is conscious and intentional about the means to acquire it without KYC being involved, p2p through a decentralized network is one.


What is meant here is that you could have a maximum security with bitcoin in form of an asset or as currency when you run a full node or bitcoincore or privately handles your keys that give access to your coins using reputation wallets like electrum or buying a hardware wallet, if you're being careful and intentional to how your asset are kept, its free from any form of physical attack or violence to your asset or currency since it's a digital form.


There's always risk in everything we do, but bitcoin compared to other currencies or assets have an optimum extent of risk not beyond control unlike other cryptocurrencies, if you learn about bitcoin.


I agree with you to an extent but considering bitcoin being manipulated sounds odd and may got one discouraged from choosing it for an investment since it is believed that some kind of set of whales or people will go behind to set the price to their favour and others will be loosing, many wouldn't want to invest with bitcoin, to me i don't really believe there's manipulations anywhere, on a norms bitcoin dumps and on the same direction pumps up back through demand and it corresponding supply.

There is no doubt that bitcoin is doing better than any other asset during this time of economic crisis. Bitcoin has also fallen as inflation and crises have begun to hit us, but over time as things continue to plummet, but bitcoin is proving itself to be a more stable asset. Yesterday when the Fed announced interest rates at 0.75%, the stock market immediately continued to plunge but meanwhile, bitcoin was not volatile and still trading above $20k.

https://i.imgur.com/7nyYJE1.jpg
Source: @HiveBlockchain

For the first time in history, bitcoin has a more stable value than US stocks, I don't think there will be an asset class that can be more volatile than bitcoin :D :D
https://i.imgur.com/QvkHmnp.jpg
https://www.cnbc.com/2022/10/21/bitcoins-volatility-falls-below-nasdaq-and-sp-500s-for-first-time-since-2020.html

I get what the image is trying to do, and I agree that Bitcoin generally has more benefits, but I want to comment on some of the content from it. Scarcity of gold is actually debatable because it's very possible that there are huge gold deposits somewhere that we just haven't discovered yet or are about to discover (https://www.reuters.com/article/uganda-gold-idUSKBN2NP17M). As for divisibility, I'd say gold is divisible enough, so not having a tick there isn't very fair. And regarding established history, first fiat appeared during the Middle Ages (https://en.wikipedia.org/wiki/Fiat_money#History), so it also has quite a big established history, I'd say. Moreover, the criteria we choose matter as well. If we chose something as relative stability, gold and fiat would tick, but Bitcoin wouldn't because it's usually more volatile. Also, we should ask for what Bitcoin is most preferred choice. For savings, for payments, for returns on an investment?

Very good point. Basically we are seeing the repetition of 2020 aka the pandemic crash. After all other markets crashed bitcoin followed leading a lot of bitcoiners into thinking "bitcoin follows US stock market" but then the stock market continued struggling while bitcoin remained stable and then started rising.

I'd bet that's because we have a large number of emotional bitcoin investors who making irrational decisions like this. They dump the only viable hedge against inflation when inflation grows.
But good news is that they are only a small part of the market, everyone else is that as irrational as them which is clear from the fact that price hasn't been crashing anymore over the past couple of months.

Recently the Central Bank of my country came up with a directive that is targeted at redesigning the national currency. They advised every citizen to ensure that they deposit the current currency in commercial banks before the end of next year. This new policy is now causing so much controversy.
Some people that wanted to keep their wealth secret would now be forced to go the bank to deposit their money and this would definitely expose them to fraud and other criminal activities. Bitcoin is the best when it comes to privacy because its transaction is anonymous to a large extent.
Bitcoin needs no redesigning or a third party custodian. It can be used to store an asset without fear that it could become obsolete or outdated.
Most investments that have high profitability would always have high risk. Bitcoin have lost almost more than half of its value recently, I think its not less risky. But its ability to recover makes bitcoin exception.
Compared to the currency of my country, bitcoin is less inflationary. It would be far better to hodl bitcoin than to keep my country's fiat in a fixed deposit.
 

The teams behind Bitcoin are too strong compared to the team behind gold for other digital currency to take over the position of Bitcoin in the world. During the pandemic, I believe we saw what happened that made many investors  to quite gold and other cryptocurrencies to focus on Bitcoin investment based on what bitcoiners was receiving from their Bitcoin investment. Based on what is happening right now in the crypto market show that people will continue to prefer Bitcoin investment as their first choice than any other assets, because it has more power to increase higher than the other digital currency in the community.

Yes, the gold being scarce is debatable but if you judge by the availability of gold in 1900 and the amount of gold mined by all gold mining companies all over the world you'll see that gold is indeed scarce. According to research, there are 20% left to be mine.

I don't know the reason why the jpeg creator doesn't mark it but it is explained in the image that gold is divisible but has a limit.

Yes, but both gold, fiat, and Bitcoin are not stable in price.

99% of forum users will say Bitcoin is great definitely. And we always prefer Bitcoin when choosing something between fiat or gold. But if you go to any fiat forum or gold forum (though I don't know if they exist) will oppose our opinion. But in the current situation in my country, I feel really Bitcoin and cryptocurrency are safer to invest in or hold. I don't feel safe when my money is in a fiat bank really due to many reasons. Especially bankrupt is the main fear lately due to the world economy going down every day.

The foundation that bitcoin have has been set very well and that's why it's the most preferred choice. It's top in the market and was the first born crypto in the market. Forget about those failed crypto tests before it and let's just say it's the first one.

While the best thing about it is being volatile and having a limited supply, that what makes me hold it for a long time. The halving is also one of the greatest factors and features of it that makes the price appreciate every cycle.

But we cant really avoid the fact that we are still saving up money in our own banks.Its not always talking about bad things about having fiat savings.We've known on how beneficial it would be despite on having those

con's or simple talking about inflation thing or the risks of bankruptcy on where you do store up those fiats and here comes some options where people are tending to be wise and smart on diversifying out their money

through investment on which it could neither be on stocks,forex,indices or crypto or real estates.There are lots of choices as long your budget allocation would permit you out.
When it comes on Bitcoin choice then it would be no brainer for those people who are aware of it.

All you have said OP are some reasons why people have chosen Bitcoin among a thousand of crypto in the market but somehow, some people haven't seen it boldly, they sometimes ignore Bitcoin and choose shitcoins. A big mistake but these people turned back to investing in Bitcoin as they realized that this is the right investment for all time and really have a fortune.

Basically, we are just about to experience failure before we see and value a particular coin. And this is really what happens to the most newbies.

^They want high risk because it has a high return, for them, it is like gambling that has high odds because when there is hype about a new project it will surely have a good return. But it seems like gambling because anytime you will lose your money and easily wipe out in just a matter of time without knowing you. For those who wanted to play safe, BTC is the right choose for them, for those seeking a quick profit, altcoins are good for them and I think they already know the possible risk. This mindset will turn to crypto becoming bad in the eyes of the government.

For me there is a simple reason; it is not controlled by the governments. As someone who comes from a nation with corrupt officials, fiat means that there will be people at the top who will give themselves a lot, and make the money less worthy, so the money I own will worth less and less, while they don't have to worry about that because they get rich faster than the inflation rate because they can print more for themselves.

This is why, I moved to bitcoin because they can't ruin this. Doesn't mean big nations can't, USA or China may try, but my nation is so small and corrupt that they can't even ruin Zimbabwe, let alone ruin bitcoin so I have no worries about it.

The reason bitcoin is preferred over other cryptocurrencies is because bitcoin is the first digital currency issued by Satoshi, if only bitcoin was not created by Satoshi most likely other crypto currencies would never exist, another reason because people have felt comfortable and have felt the tremendous benefits of bitcoin, first love is difficult for us to forget even though now there are other coins, it is certain that people can never forget bitcoin because bitcoin has become part of the identity of the buyer, even social media plays an important role in it like ticks tok, Twitter and Reddit, social media are driving the popularity of bitcoin, all it takes is patience and peace for bitcoin holders.

This is if you don't save them in custodial wallets such as online wallets and CEX, although Bitcoins decentralized asset where you save them will be able to turn them into centralized because they are the master of your assets not you anymore

It's not because Bitcoin was the first that make it's hard to forget but because from all the coins that have emerged Bitcoin is the most well-performing of all, many shitcoins provide benefits to their holders but precisely because it makes crypto's original goal deviate and only becomes a target for quick profits, but Bitcoin is not like that if you are patient with it then it will be profitable for you

You are right, since this is a bitcoin forum and we are investing in bitcoin of course we will choose it but if we ask relatives, or people who are doing business outside, they will definitely face fierce opposition.

It's fair to say bitcoin has many advantages over gold and fiat, but it's not perfect in every way. If someone invested bitcoin since the beginning of the year and held it so far, they have lost more than 70% of their value and this has never happened with fiat or gold in such a short time. If you hold fiat your money will also lose value but it will be insignificant in the short term.

We should not discard any of them, they all have different uses, what we should do is try to balance it all and diversify our assets. should not focus on just one.

No doubt bitcoin is great investment decision for long term but if you insist on KYC then most of the exchanges have implemented it on their platform and if you want to withdraw or transfer funds over there you would have to go through KYC norms but there are ways to avoid it like P2P buy/sell or localbitcoins.com is good choice.

But you must keep in mind that there are profits as well as loss also in holding the coins so you must be patient and not getting panicked with normal dips which many do but if you can hold then it's best.

Bitcoin is actually not the first, there were many attempts at creating such a system before bitcoin and they all failed. You think bitcoin was the first because it succeeded and the rest are forgotten and can only be found in history books! The same thing about altcoins, many of them you haven't even heard of or have already forgotten since they died.

There is no doubt that bitcoin is a great choice for investment, especially for people who have been using bitcoin for a long time. But if you want to buy bitcoins and you use an exchange, let alone a centralized exchange, you have to go through a verification process before you can proceed with the purchase. And although you can buy bitcoins on p2p exchanges, they will also apply verification to their members, especially if they want to buy bitcoins in bulk. And if they do use bitcoin as one of their investments, they shouldn't need to panic when the price drops, but there are still many people who panic especially if they buy bitcoin when the price is at its peak and then drops dramatically.

I know it’s a bad practice, but what could happen to your bitcoin and ethereum if you keep it in binance? I get that it's "not yours if you don't own the key" but I am fine with it inside binance as well. They are as good as it gets and I trust them more than I trust myself and it's very rare that someone gets their binance account hacked that easily when you have 2fa as well.

So, I agree that we do not like to complicate things, just buy some of the top coins, put them in binance, and wait for it to grow, that’s a good idea. It is an idea that will make you rich in the very long run, not going to be something that is quick, but in many years, you will see the benefits of it.

The main reason for choosing bitcoin is P2P transaction because this transaction does not require any third party so this bitcoin is becoming very popular for everyone and another main reason for the popularity of bitcoin is security because using bitcoin technology is the most security technology in the world. Even if you want, you can't hack easily, if a user doesn't give his data or private key somewhere, then it's not possible for anyone, so Bitcoin is becoming very popular for everyone.

Re: Why Bitcoin is the most Preferred Choice

1. Easy transactions with low fees.
2. Full control for your money
3. Better innovation than fiat
4. Bitcoin has value and utility as a currency with growing adoption.
5. Lets you protect your privacy

The 5 points above are some of the things that made me love bitcoin. Bitcoin is not just about tradable asset, but there are many benefits you can derive from it and are loved by those who adopt it.

Centralized P2P exchanges demanding all personal information from their customers should be avoided at all costs, especially if they are not transparent about how they handle such information and with whom this data is shared once provided by users merely wanting to make cryptocurrency transactions. Instead of sponsoring businesses of such dishonest companies, users should promote the usage of cryptocurrencies in their local communities. It is in local areas, between neighbors, where real peer-to-peer transactions need to take place in order for the bitcoin adoption to spread out faster. Mutually-beneficial local exchanges between individuals who know and trust each other are the basis for bitcoin circular economies in which government money is fully replaced by more advanced currencies. Whereas government can influence the behavior of the participants in local areas in case fiat is used, it becomes impossible once people switch to decentralized currencies.

Well, yes, that is indeed true and I'll add another thing. Bitcoin is much more easier to carry compared to gold that has mass and you will definitely gonna need a lot of paper works if ever you decide to move it out of the country, whereas bitcoin doesn't need any of that nor some would know that you're a bitcoin holder.

Here is the few reasons why bitcoin is the most preferred. Bitcoin is the most popular and preferred choice for online payment due to its secure and transparent nature. Transactions are verified by network nodes through cryptography and recorded in a public dispersed ledger called a blockchain. Bitcoin is unique in that there is a finite number of them: 21 million. This makes it difficult to create counterfeit bitcoins and makes it an attractive option for online payments. Additionally, bitcoin is not subject to government or financial institution control. Bitcoin is open-source and its design is public, allowing anyone to review and improve it.

I agree with your statements.

The reason on why BTC is the preferred investment is due to its price on the market. With that kind of market cap and resource, its inflationary nature is to be preferred by either short/long-term investors in the market. But, given the fact that there are also some altcoins that show potential, diversifying your investments would be a better choice in order to maximize profits.

Like what they say, do not put all your eggs in one basket. Diversify and study the market in order to lessen the risk and maximize your profits.

Bitcoin changes many people's lives but not everyone will become richer, there are many people investing in bitcoin losing and losing a lot. Bitcoin is a highly profitable investment but needs analysis and research, if you buy bitcoin for $69k, you are currently making a loss, not a profit.

Bitcoin's reputation in this industry is the main reason why people includes this token on their prioritized investment. Even if there are other cryptocurrencies which are having higher market value, and higher rate of increase which could generate bigger profit, Bitcoin is still having edges such as having the biggest tendency to make a comeback after a deep downfall on the market price during bearish trend. And this I think keeps investors into making it a safe haven on their crypto investments. At this moment,  all crypto currencies are still on red marks including major tokens. We might not know when will the recovery occur but for sure investing on major tokens would be a good idea including Bitcoin of course.

We always think only about getting profit, but when someone gets a profit from bitcoin, surely there are other people losing money. This is really the cycle in the market. I know with the price right now, a lot of people are down, and they are just holding on since they are already down and don't want to sell it at a loss. Bitcoin really is a highly profitable investment, but it is also very risky, and you are very prone to losing all your money if you don't have risk management, so invest what you can afford to lose.

Are you sure that diversifying your portfolio with altcoins will minimize your risk? Crypto market, bitcoin is considered the safest and the whole market depends on bitcoin, that means only when bitcoin grows can altcoins grow, if bitcoin dies, the market disappears.
Therefore, diversification with altcoins cannot be seen as risk mitigation, not putting your eggs in one basket is investing in other assets like gold or real estate.

If you do not have patience and have come to make quick money, then it is possible that you will end up selling at a loss. And lose money.

You don't need to be a master of technical analysis to invest in bitcoin. Or need do any research.

The amount of bitcoin decreased? If You bought 1 bitcoin it is still 1 bitcoin. And that bitcoin was once at $0.01 - And it was at $69K last year like you said. And probably after next 2 years it will be above $100K

Better check bitcoin price history: https://bitcointalk.org/index.php?topic=5257620.0 - If you have any doubts about its performance.

This is because they don't yet understand how the price of Bitcoin works, you don't buy when the price is up and has rise by a very massive number instead buy when the market is down like now and wait for the bull market for you to sell. People are easily moved by emotions that's Why when the price is pumping they rush to buy but stay away when the price is crashing that should have been the perfect buying opportunity.

Bitcoin has given people a reason for it to be trusted that's why it's the most preferred choice to other altcoins or alternative investment like stock or bond trading. Bitcoin is also one of the current investment that can give you high returns in a very short time and that's why it's of huge interest from investors.

Op have added information about the technical features of bitcoin against other cryptocurrencies that make bitcoin superior. This won't be the understanding with most of the people. Majority of the users have it on the preferred list for the growth it have achieved over the years. Another thing, the track record with stabilized growth even after hard crashes happening in the market.

There are more cryptocurrencies that have provided with better ROI for the investors. However they weren't able to do it in a consistent manner. More cryptocurrencies that got into existence during the days of bitcoin have gone out of the market, but Bitcoin leads the market.

Bitcoin is the top investment in the space due to it's trading volume and market cap. It's also popular and people getting essential and explosive investment in Bitcoin with the full hope that it will pump in the nearest future. Top investors and traders have their investment in bitcoin and it's definitely not going to fail, its currently experiencing dump period but will bounced back the moment the bull run up comes. Buying it at $69k is also a big loss, and the best time to buy it is from it's dump price, by next year, it will shoots to the moon.

agreed. Bitcoin has so much edge when compared to most of the current stores of value we have at our disposal. For instance anything that is physical like gold or precious stones pose issues with insecurity given the fact that the transaction is done person-to-person, bitcoin doesn't have this problem. And compared to other cryptocurrencies it has the benefit of being stable enough, at least in regularity of its price compared to others that fluctuates like crazy, thanks to bitcoin's 4-year cycle brought about by its halving. But all of these are really just miniscule compared to the potential for profit and security that bitcoin brings to the table, it is just unlike any other and is literally a feature that could walk in itself.

It's inevitable to do your research sometime. You should never put your money in things you don't understand. If you're about to enter bitcoin, you should learn how it works theoretically, a little bit technically, and read about its history.

Profit is both realized and unrealized gains. 1 BTC = 1 BTC, but you have unrealized losses.

But, if we are buying Bitcoin in exchange, moreover local exchange, commonly we will need KYC and this is required. So, this may depend on where we are changing our fiat to Bitcoin. As long as we can find trusted and reputable P2P without any verification, it is possible, but if we cannot find the trusted one, this is debatable. For In Binance P2P, we also still need to do KYC.

Every digital project will always have the risk of cyber crime. In this case, we may find certain platforms to keep our assets very safe, but we cannot get a 100% guarantee of avoiding cybercrime. So, be wise and careful every time we are doing to dos something when investing, and never click or phishing links, scams, and others that are probably going to have cyber crimes.

Always remember High risk, High return. this is also in Bitcoin. Bitcoin still has risks although it is not as high as altcoins. However, we can minimize the risks as long as we are ready for the investment, and strategy, and not using the money for daily life or saving. For, Bitcoin investment is mainly for long term periods, so we need more times to hold them.

It is the liquidity that most investors preferred Bitcoin.  Meaning, they can cash in and cash out anytime because there is a huge demand for Bitcoin.  Aside from that Bitcoin market being driven by speculation give huge room for investors' fund to have a huge profit.  The high volatility also brings speculators to try to profit from the price fluctuation.  Investors are driven toward Bitcoin because of the possible profit they can get.

Aside from the market traders, people are driven toward Bitcoin because of the opportunities it offers.  Start-up creates services to tap the possible potential profit that is within the industry, this start up creates jobs for people which can help improve a person's way of living.


True it is always best to have multiple stream of income, same goes with investment and always invest what you can afford to lose

what is clear is that makes people like bitcoin, because bitcoin buying and selling transactions are easy. so it can be done anywhere and anytime. but of course not everyone experiences happiness and becomes rich, because of bitcoin. not even a few people who become poor because of investment in bitcoin. So there are definitely positives and negatives. but I think now many people are starting to realize the importance of adopting bitcoin because they see good bitcoin prices like from 2010 until now. and that makes them choose bitcoin a lot because they believe that investing in bitcoin will improve the economy.

I started Bitcoin with more than 50,000 US dollars, although I saw people in the forum often said that long-term holding requires faith and faith. But what I want to say is that this process is very painful. I see my assets slowly draining day by day. Coupled with the economic downturn in recent years, sometimes ideals lose to reality.

The anonymity of Bitcoin can protect people's privacy very well. Bitcoin is central among cryptocurrencies, and Bitcoin influences the price movements of other altcoins. You can use Bitcoin all over the world.


You can use Bitcoin to pay at supermarkets, convenience stores, and shopping malls. But don't just trust strangers and send money to others. If Bitcoin is cheated, there is a high probability that it will not be recovered.

Bitcoin won't be cheated but the person can be, like what we've been seeing in those that have been victimized by phishing websites. They're the victims and are being cheated on.
They're not aware of it and thought that the website they're visiting is the correct one and so, because of likely being new when asked about their private keys, they don't know that it shouldn't be shared but they do so they fall to the trap and becomes the victim.

In this era, bitcoin is well-known all over the world, especially in the civilized areas that internet technology can reach. Many large companies have adopted it and even famous businessmen like Elon Musk have large amounts of bitcoin holdings.

Most people in this generation use Bitcoin on exchanges that have p2p transactions so that others can also buy and withdraw in this regard. Apart from no KYC if an exchange is a decentralized platform, and if you enter a P2P exchange, KYC only enters there because it is centralized. And anyone can have Bitcoin whether you are rich or you are a middle-class type of person or even poor person.

What I like most about bitcoin is that it is open to everyone, regardless of rich or poor, all can invest in bitcoin. It's not like gold or real estate, you need a large amount of money to get started. But with bitcoin it is different, as long as you have money, don't need much or little and if you have more knowledge, you can also get rich from it. That's the great thing about bitcoin.

Long-term holding will definitely bring you profit but you also need to remember, if you can buy bitcoin at low price then the profit it gives you will be better. But if you buy it at a high price, it won't necessarily make you lose but the profit will be very small. As you said it looks like you bought bitcoin at a high price, what you need to do now is absolutely not sell, hold until bitcoin recovers. No selling is no loss, 1btc=1btc.

Bitcoin is superior from fiat currencies and gold in their primary function, it is called decentralized medium of exchange with having extremely low exchange fees. Very beginning it was invented as a trust less medium of exchange outside the global banking system that was intended to replace fiat currency. It is slowly gaining acceptance.

Bitcoin is finding more acceptances in countries with weak currencies as a means of exchange in everyday life Bitcoin Dash's ease of use has led to widespread and growing acceptance in countries grappling with high inflation, such as Venezuela, as well as in Europe and Asia.

Bitcoin Today reflects our belief that Bitcoin is beginning to fulfill its promise as a fast, seamless, international medium of exchange. Bypassing  the international banking system and avoiding high fees. Depending on the various advantages and potential of the exchange, we can agree that Bitcoin is now positioned higher than fiat and gold.

Bitcoin is preferred over others because it has a positive history where when the price has dropped, it always recovers, and sometimes, it exceeds the investor's expectations because bitcoins price reached a new ATH just like what happened in the last bull-runs. right now, they have high trust and they are always buying some bitcoins whenever the price is low because of the past history where the price will always recover, they don't feel any doubt rather they are just relaxed and steady. compared to the other altcoins, some are always failed and most of the time cannot recover their old high price and continue to fall until it no longer in the market.

from the first time I understood about investing and I compared Fiat, gold and bitcoin investments I decided to choose bitcoin as a long term investment asset.
the reason I chose bitcoin is because for me when investing in an asset I don't want anyone to know how much my asset is and on the other hand I also want bigger profits when investing in the long term. so that it is not in vain to invest for a long time and get the appropriate profit.

and my opinion about investing in gold or Fiat is like being watched by the government or other people who know it and it's like a waste of investing for a long time but very little profit

I think this is also somehow related to the fact that Bitcoin was created as the first cryptocurrency and therefore it is given more attention than other alternative cryptocurrencies! This is also an important factor! In any case, there is a lot of emphasis on this! It is also worth noting an important point that bitcoin is often called digital gold, and this also plays a role!

Many people regard Bitcoin as the first choice for investment. Because there is greater growth potential in cryptocurrencies. And Bitcoin is the most valuable asset anyone, anywhere can own. It also provides investors with a better rate of return, which has aroused great interest from investors.

Bitcoin was a gift from Satoshi to the world. It is the most perfect asset to this day as it gives the power back to the people as well as it presents an hadge against the current system constant inflation.

I think Bitcoin is the most preferred choice because it has the most liquidity, most accept cryptocurrency and the most secured network.  Every investors preferred a secured investment and Bitcoin give it to them.  There is no instance of Bitcoin network (except for the early ones that was promptly patched and fixed) hack while other cryptocurrency have an incident of hacking every now and then.  Having most liquidity means anyone can cash out Bitcoin without any problem and the most recognized by the government because there are already several countries that accept it as mode of payment.

We cannot compare bitcoin's superiority in cross-border remittances and then conclude that bitcoin is positioned higher than fiat and gold. All have advantages and disadvantages, and there is no need to compare or choose only one while no one forbids us to select all 3. For daily spending transactions, fiat prevails with small transactions for which we will not incur additional transaction fees. Meanwhile, gold would be a great choice to keep our assets from depreciating due to inflation and bitcoin is a highly profitable investment or used to transfer money across borders at a meager cost.

This is not the first time I see this picture confirming that bitcoin is superior to gold and fiat on the forum. Moreover, it was discussed here repeatedly. What new OP brings up for discussion?

Completely disagree with points 4 and 5.
4. Bitcoin has a very high risk compared to traditional investment vehicles and is considered a risky asset, due to which it shows a high return.
5. Does btc have no price manipulation? Are you kidding? Bitcoin is still very much subject to manipulation.

Highly agree! I do DCA with Bitcoin (and Ethereum) and storing them in a cold wallet like Ledger Nano S. I only believe in both of them to do DCA because of their capability to come back stronger no matter how long the bear market will last, as well as their massive adoption worldwide despite other countries (and banks) aren’t in favor of it.

I still regretted up to this day for not riding the wave during the 2018 bear market because of fear. If I did buy and hold some BTCs back then and then sold them at an all-time high of $68k, I could have profited a lot.

I also agree with you. about point number 4 and 5 not like what Op said, because the risk of cryptocurrency is very high to be investment advice for beginners. High risks of loss also accompany high returns. so about a small risk of course wrong. All investments have their own level of risk, including bitcoin, which has a greater risk if you can't control it.
and regarding price manipulation, Bitcoin or crypto is indeed very vulnerable to manipulation. Whales or institutions that have a lot of money can manipulate bitcoin prices, although not completely. But the manipulations made will greatly affect the bitcoin price. Several FUDs and News created aimed at lowering and increasing the price of bitcoin on the market. So price fluctuations will be very fast depending on the manipulation done.

Yes, I agree with you! Really! I've also never heard of a Bitcoin blockchain hack, and that says a lot!! Even the Ethereum platform has been hacked, if I'm not mistaken, and could this have something to do with the fact that the Ethereum platform is centralized??? What do you think about this??

This is pretty much it. It is kind of a gift that we will never ever get from any other people aside from Satoshi. Back then, I thought that credit cards and debit cards were like the peak of how digital payments can be done. I was thinking of like what other solution could be made aside from just using those then I realized that we already had Bitcoin and I saw freedom and decentralization from it that I could never ever saw from other digital payments that I saw here in my country.

I just wish that I had discovered Bitcoin earlier when I was establishing a "small business".

It is certainly open for everyone, but for poor? I don't think that it is really the case. How about those poor who can barely feed themselves and their family thrice a day? Some people can even afford to feed themselves twice and yet you think that they will really allocate some of their money to invest on bitcoin. I don't think so. I got your point but bitcoin is not for everybody especially if the goal is to invest because that also meant saving.

Bitcoin is no doubt the preferred choice for everyone who is looking for something to invest in.

There is a lot of talk to be said on this subject, but let's talk from the data that took place on the ground.

Bitcoin has proven to be better than fiat money, gold and other assets and it has also proven to be better than all other crypto assets and investments.

- Regarding money and financial assets: it proved its failure through the events that took place during the Corona epidemic and the current crisis due to the Russian-Ukrainian war, while on the other hand, we see that Bitcoin maintained its value and high position despite all the major events that it was exposed to.

- As for crypto assets and investments: We have seen through recent events, especially the FTX disaster, and before it Luna, how all these projects failed and people lost confidence in all these cryptocurrencies and centralized platforms, except for Bitcoin, which proved to be the only safe asset (as long as it remains in the wallets that we have the private keys to).

For a trader, a highly fluctuating trading asset is the preferred choice.  With high fluctuation, there is plenty of room to speculate and play with the market.  Traders do not want a boring market where fluctuation is almost missing.  Bitcoin has shown this property, the reason why many traders flocks to the Bitcoin market.  Another thing is high liquidity, Bitcoin can be sold anytime.   Aside from that, investors wanted higher gains after long-term holding and Bitcoin also meet that.  every 4 years Bitcoin price tends to create new all-time highs in the market.  Aside from opening windows for entry when the market becomes bearish.

Aside from the natural given feature of Bitcoin being unmutable transactions, cheaper international frictionless transfers  Bitcoin market offers a potentially huge profit for people who learned how the market move.

In general, Bitcoins give more benefits than fiat and gold. And this is one reason why many people got interested in Bitcoin. The Covid-19 crisis proves to us that Bitcoin can survive despite the difficult times and global market crisis.
Despite the big issue some of cryptocurrencies and exchanges, people still give their trust in Bitcoin because they know that it was different from others and never disappoints them. Though it was not the safest asset, at least we know that Bitcoin can be trusted.

It depends on where you are holding your Bitcoin.
If you keep it on an exchange (CEX), you possibly do KYC procedure. But if you keep your Bitcoin in private wallet, it has no KYC procedure.

BTC or Altcoins are high risk assets. It is untrue if you claim BTC is less risk.
But I agree that Bitcoin has the potential for big profits because of its price volatility.

I think BTC price can be manipulated sometimes. You must know that whales have the power to manipulate BTC price in the market.