Why people are still buying BTC?

[ISAWHIM]

People are buying them, because they are using them to buy things.

When the price falls, they get more coins... Why would they NOT buy them? If you were told you could get 3000 burgers today, or wait until tomorrow and get 4000... would you NOT buy the 4000 if you wanted burgers?

Why, because this coin is marketed, unlike many of the scrypt-coins which are just diversions to distract the idiot pump-n-dumping morons who normally cause trouble on the BTC chain. They trade expired labor for expired labor... lol. (Talking about the unmarketed coins. Not the marketed scrypt-coins.)

Marketed scrypt-coins (No perticular order.)
- WorldCoin
- LiteCoin
- DigitalCoin
- BBQ-Coin
- MinCoin
- LuckyCoin
- NovaCoin
- BitBar
- Nibble
- MemeCoin (Yes it has a market. Meme's.)
- SexCoin (Yes, it is still alive and being sold/purchased off-market, to reduce the pump-n-dumper moron damage.)

Unmarketed
- FeatherCoin (Was intended as a CPU alternative to bitcoins, now raided by all the GPU's. Hit the hardest by the pump-n-dumper, since it had one of the lowest diffs.)
- FastCoin (An ADD coin, for the impatient to mine.)
- CHNcoin (China-coin for Yuan? Might be marketed in china. Yuan to USD is dropping fast, so not worth any US investment, unless you get it when it peaks low.)
- Phenix (Misspelled Phoenix? lol. They live there, and they still misspelled it! Obviously a failed attempt to be creative.)
- HyperCoin (The other ADD coin, for the impatient to mine.)
- Franko (Good old Franko... You can buy his old socks and underwear with the coins, guaranteed... and also possibly a few ounces of Oregano.)
- PowerCoin (Yes, we are all making the power-company lots of money, this coin is just doing it faster than others.)
- ElaCoin (OMG Ellen has a coin! NVM it's Ela, the Enduser-License-Agreement that drains your wallet.)
- AmericanCoin (Made in china. Nuff said. CHNcoin trying to capture both markets. It's as american as... Pizza, as hot-dogs, as Indians... Oh wait, those are all foreign things from other countries too.)


Any other not listed... I would assume has zero-market also... Or is dead in the water.
http://www.coinchoose.com/

More coins and "markets"....
http://www.coinwarz.com/cryptocurrency/
http://dustcoin.com/mining
http://www.wheretomine.com/

[1713984643]

1713984643

[Crypt_Current]

Because the concept of an email-able store of value that outperforms gold and has no counter-party risk and is mostly anonymous and the entire history of transactions is public and transparent and storage takes up zero physical space are all... revolutionary?  Never been done before?

...

NAH, OP is totally right --  completely useless!!!    

[ranlo]

Because the concept of an email-able store of value that outperforms gold and has no counter-party risk and is mostly anonymous and the entire history of transactions is public and transparent and storage takes up zero physical space are all... revolutionary?  Never been done before?

...

NAH, OP is totally right --  completely useless!!!    

It's one of the few ways to combat Paypal and Google Wallets too! Both of those are buyer-based and if someone gets mad at you and does a chargeback you not only lose your item and your money, but they will also charge you extra for the chargeback (it's like $30 for Google and 25 for Paypal).

[Crypt_Current]

Because the concept of an email-able store of value that outperforms gold and has no counter-party risk and is mostly anonymous and the entire history of transactions is public and transparent and storage takes up zero physical space are all... revolutionary?  Never been done before?

...

NAH, OP is totally right --  completely useless!!!    

It's one of the few ways to combat Paypal and Google Wallets too! Both of those are buyer-based and if someone gets mad at you and does a chargeback you not only lose your item and your money, but they will also charge you extra for the chargeback (it's like $30 for Google and 25 for Paypal).

Right -- I recently sold some mining hardware to someone overseas, and not being familiar with Paypal's exorbitant fees, kicked myself for not accepting payment in BTC ... especially after the buyer filed a dispute with Paypal trying to say the product didn't meet up to description!  Well luckily I won the dispute ...
OH and ALSO... it'd be effin HEE-LARIOUS to see someone try to rob someone else of his/her BTC at gunpoint!!  Pure frivolousness.

[ranlo]

Because the concept of an email-able store of value that outperforms gold and has no counter-party risk and is mostly anonymous and the entire history of transactions is public and transparent and storage takes up zero physical space are all... revolutionary?  Never been done before?

...

NAH, OP is totally right --  completely useless!!!    

It's one of the few ways to combat Paypal and Google Wallets too! Both of those are buyer-based and if someone gets mad at you and does a chargeback you not only lose your item and your money, but they will also charge you extra for the chargeback (it's like $30 for Google and 25 for Paypal).

Right -- I recently sold some mining hardware to someone overseas, and not being familiar with Paypal's exorbitant fees, kicked myself for not accepting payment in BTC ... especially after the buyer filed a dispute with Paypal trying to say the product didn't meet up to description!  Well luckily I won the dispute ...
OH and ALSO... it'd be effin HEE-LARIOUS to see someone try to rob someone else of his/her BTC at gunpoint!!  Pure frivolousness.

You're lucky you won. Someone I know sent a sealed, brand new laptop to someone. They got the package, opened it and then put bricks in it to take pictures as proof that the laptop was never actually sent.

[Crypt_Current]

Because the concept of an email-able store of value that outperforms gold and has no counter-party risk and is mostly anonymous and the entire history of transactions is public and transparent and storage takes up zero physical space are all... revolutionary?  Never been done before?

...

NAH, OP is totally right --  completely useless!!!    

It's one of the few ways to combat Paypal and Google Wallets too! Both of those are buyer-based and if someone gets mad at you and does a chargeback you not only lose your item and your money, but they will also charge you extra for the chargeback (it's like $30 for Google and 25 for Paypal).

Right -- I recently sold some mining hardware to someone overseas, and not being familiar with Paypal's exorbitant fees, kicked myself for not accepting payment in BTC ... especially after the buyer filed a dispute with Paypal trying to say the product didn't meet up to description!  Well luckily I won the dispute ...
OH and ALSO... it'd be effin HEE-LARIOUS to see someone try to rob someone else of his/her BTC at gunpoint!!  Pure frivolousness.

You're lucky you won. Someone I know sent a sealed, brand new laptop to someone. They got the package, opened it and then put bricks in it to take pictures as proof that the laptop was never actually sent.

Ridiculous.  Yeah I got extremely lucky... I'll never use PayPal again, effin crooks...
Buyer filed dispute, PayPal says (i'm paraphrasing here): "Here's some options you might use to solve the problem",
One option was "Request buyer send back merch and refund half the money" -- I said "NO WAY, DON'T EVER DO THIS"
Guess what PayPal did?  They went and offered the buyer that exact option that I explicitly asked them NOT to offer!  I seriously would rather have been sued...  At least in court, I would have had a chance to prove my case (which I supplied evidence -- screen shot and a link [which I believe is still archived here somewhere on this forum] to the original product description, which matched the buyer's complaint precisely)
PayPal overtly ignored this evidence AND my "choice"... complete disregard for my end of the deal.  They gave the buyer up to a certain date to provide shipping / tracking info that the merch was being sent back to me... The buyer never responded.
Whew!  Well maybe he finally figured out how to use the cards after all!   

[ranlo]

Because the concept of an email-able store of value that outperforms gold and has no counter-party risk and is mostly anonymous and the entire history of transactions is public and transparent and storage takes up zero physical space are all... revolutionary?  Never been done before?

...

NAH, OP is totally right --  completely useless!!!    

It's one of the few ways to combat Paypal and Google Wallets too! Both of those are buyer-based and if someone gets mad at you and does a chargeback you not only lose your item and your money, but they will also charge you extra for the chargeback (it's like $30 for Google and 25 for Paypal).

Right -- I recently sold some mining hardware to someone overseas, and not being familiar with Paypal's exorbitant fees, kicked myself for not accepting payment in BTC ... especially after the buyer filed a dispute with Paypal trying to say the product didn't meet up to description!  Well luckily I won the dispute ...
OH and ALSO... it'd be effin HEE-LARIOUS to see someone try to rob someone else of his/her BTC at gunpoint!!  Pure frivolousness.

You're lucky you won. Someone I know sent a sealed, brand new laptop to someone. They got the package, opened it and then put bricks in it to take pictures as proof that the laptop was never actually sent.

Ridiculous.  Yeah I got extremely lucky... I'll never use PayPal again, effin crooks...
Buyer filed dispute, PayPal says (i'm paraphrasing here): "Here's some options you might use to solve the problem",
One option was "Request buyer send back merch and refund half the money" -- I said "NO WAY, DON'T EVER DO THIS"
Guess what PayPal did?  They went and offered the buyer that exact option that I explicitly asked them NOT to offer!  I seriously would rather have been sued...  At least in court, I would have had a chance to prove my case (which I supplied evidence -- screen shot and a link [which I believe is still archived here somewhere on this forum] to the original product description, which matched the buyer's complaint precisely)
PayPal overtly ignored this evidence AND my "choice"... complete disregard for my end of the deal.  They gave the buyer up to a certain date to provide shipping / tracking info that the merch was being sent back to me... The buyer never responded.
Whew!  Well maybe he finally figured out how to use the cards after all!   

lol, my worst situation... one day I found $3k in my account that wasn't mine. Because I'm a highly moral person, I contacted Paypal to let them know that I had money that wasn't mine. They froze my account instantly to look into the situation, then a week later said they couldn't figure out where it came from or who it belonged to. Because of this, they said they had to just remove the 3k and keep it, since it no longer has an owner.

So they take the 3k, my account is still frozen. I contact them again wanting to withdraw my money (that I had before this situation started) and they said there's a 180-day hold on the account. They refused to give me anything for that 6 months, while they held it to earn interest.

After I got my money back, I've been 100% against holding any funds there again. In the off case I get a PP payment, I instantly withdraw it.

[Liquid]

I'd rather computers and mathematics control currency than human beings.

[ranlo]

I'd rather computers and mathematics control currency than human beings.

Same here. It gets rid of a lot of the corruption. Though you still suffer losses but at least it's not due to someone willingly stealing it.

[ask]

I am buying...

[cr1776]

Exactly.  It is objective, and applied uniformly to everyone.  It does not matter who you know, nor does it matter if you can buy enough votes to get other people's money via inflation (or deflation or taxes). 

I'd rather computers and mathematics control currency than human beings.

Same here. It gets rid of a lot of the corruption. Though you still suffer losses but at least it's not due to someone willingly stealing it.

[MagicBit15]

Asking why people are buying bitcoins, on a bitcoin forum... Hmmmmm 
 
Does anyone else see an issue here, or is it just me?

[MagicBit15]

OP: Hey why are people still buying stocks or trading on forex? The Fees are high., high., high., etc., etc., etc., blah., blah., blah.,

ME: Supply and Demand. Welcome to the Economy.

[Peter Lambert]

People are still buying bitcoins because they are so cheap! The price is going to skyrocket again any time now, BUY BUY BUY!

[halfawake]

Personally, I like bitcoins because I plan on running a business someday and from a business perspective, bitcoins are much easier to work with from a merchant's perspective than credit cards.

Here's why:
1) No PCI compliance to worry about.  Coins received aren't credit card numbers, so while you're responsible for security, you only have to worry about your own coins, not someone else's card.
2) Lower fees - possibly zero if you do it yourself, which is impossible with credit cards.
3) No chargebacks.

I'm sure there's more that I'm not thinking of off the top of my head.  The downside?  Well, unlike credit cards, bitcoins are still pretty niche, so if you accept bitcoins but not credit cards, you're likely to have a pretty limited market.

Also, I love the appreciating price, I'm bullish, and plan on buying a few hundred dollars worth of bitcoins, because due to the limited supply of bitcoin, all that has to happen for the bitcoin to go up in price is for it to get more popular.

[AliceWonder]

Hello guys,

To me, it seems pretty strange that people actually continues buying btc now...
I understood why they wanted to invest in btc before, after the Chyprus crisis, and all the articles in the media. But now?

I don't get it.

I want to buy because it will be very hard for me to do business in BTC if I do not already have some.
I want to do business in BTC because I don't want traditional banking saying "sorry, your erotica contains the word dead. That's on our black list. Change it or we stop processing your payments."

Yes, that happens, even if all you do is mention the band The Grateful Dead. Context isn't something they look at, they just scan your work.

I want to buy bitcoins so I can start doing as much business with it as I can.
Hopefully general public will want to buy bitcoins so they can buy from my business.

Investment?

That's for the speculators, I don't care why they do what they do.

[bitbybit2]

Hello guys,

To me, it seems pretty strange that people actually continues buying btc now...
I understood why they wanted to invest in btc before, after the Chyprus crisis, and all the articles in the media. But now?

I don't get it.


Bitcoin is useless, and will most likely never be used as a currency. I spent hours trying to get my first bitcoins (satoshi actually), and after working for ages, I only got 0.002 btc, which does not even allow me to proceed to a transaction (the fees are higherthan that amount  ). When you compare it with CC or paypal, it seems that they are free to use in comparison! Not to mention the time required to actually proceed to a transaction which can be anything between 1 minute and ... 1 year (or more?).

The only possible reason I see people are buying btc is that they (truly) believe that the price will increase, and want to make more profit. I think that 99.99 % of the bitcoins exchanged are never withdrawn from the exchangers, and the people are only waiting to make some profits. What makes them believe that the price will rise? Because the amount of bitcoins is limited? Because lost coins can never be recovered? I have no clue.


An other problem is the "mining" part. Soon, the difficulty will increase, CPU and GPU mining will be useless. People will stop mining bitcoins and try LTC or something easy to get... The interest in btc will decrease.


Other issues:
- security. Not a single company was able to provide a "professional" service. Bitcoin-24 has a serious problem ( https://bitcointalk.org/index.php?topic=174600.0 ). Even mtgox was critized for the lags, problems with missing coins, money, delay, and so on ... The hacks are countless (you can see new topics about that every day ...).


I can't see anything positive about btc, and still can't get why people are buying it. Can any captain obvious explains? Thanks.

Cyprus and not Chyprus. It is frustrating to accumulate 0.002 btc but I have accumulated more than that in two months just by using a Nokia 7610 and Opera Mini.

If it goes down to 15 dollars then it would be good because newbies will come in and grab it again. And nobody will complain about it being too expensive.

The difficulty will increase? It is like buying or purchasing the next Samsung Galaxy  and IPhone. The difficulty will increase and so is the power of future hardware.

You call Paypal a professional service. Try telling that to millions of dissatisfied customer.

[freedomno1]

Well you have at least 0.1 BTC from advertising

Protocol layer built on top of bitcoin, using messages in the block chain to represent transfers of value is one way of approaching it
https://bitcointalk.org/index.php?topic=226215
cvTokens design
https://bitcointalk.org/index.php?topic=197799.0
Freicoin
https://bitcointalk.org/index.php?topic=89843.0
Some other neat stuff
https://bitcointalk.org/index.php?topic=204283.0
https://bitcointalk.org/index.php?topic=88208.0

Simple Brainpower is what makes the system work and grow
Havelock ASICMiner Cavirtex Mpex Btct Bitfunder just need to look for good companies regarding security

[manfred]

Why people are still buying BTC?

Not everyone can or likes to mine and friends don't sent enough, so next best thing is to buy them.

[ranlo]

People are still buying bitcoins because they are so cheap! The price is going to skyrocket again any time now, BUY BUY BUY!

A bigger reason is... if people didn't buy them they would have 0 value. The value is created by the buyers. If everyone stopped trading fiat right now, BTC would be worthless because there would be no way to use it on anything worthwhile (ex. if I have a store and I sell items for BTC, I have to buy the items with cash. If I can't trade the BTC for cash anymore, I go out of business).