Why people are still buying BTC?

[rainezerr]

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 I think that 99.99 % of the bitcoins exchanged are never withdrawn from the exchangers, and the people are only waiting to make some profits.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.

Bitcoin is really good for long term investment and those who did not invest on bitcoins will really regret the days that it was cheaper since the price is keep on growing as the time goes by on the market.

[elghoniya]

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.

I think bitcoin is the long term invesment. Many people want to get alot benefit, so they are participating in bitcoin. I  personally believe that bitcoin is the future technology. I believe bitcoin. In the future it will helpful.

[okakaynam]

People still buying bitcoin because they believe on it and they know what bitcoin can do to their lives. Bitcoin is not an ordinary altcoin or crypto currency but this is a new platform of investment which it can double or triple your investment as long as you have patience waiting til the price pumps up.

[Fixart96]

Many people are still buying bitcoin because they know that by buying and investing it will generate profound profits and this is very promising. So no wonder bitcoin prices have a very high value, and they believe that bitcoin is the virtual money of the future.

[Onews1990]

You said in seven point that btc isnt sotre of value, but let me ask, how did you think dollar got its own value? How did other currencies got it also? Everytime its the same way

[Rumayanhi]

Different people have different preferences. Just as people are more comfortable saving in a bank than saving at home, the same as bitcoin

if you do not understand about bitcoin find out about bitcoin why people love bitcoin

[Bitcoinjheta]

Definitely because bitcoin is the head of the cryptocurrency they believe in the capabilities that it brings to whole cryptomarket that is why many people don't stop buying bitcoin and continue invested more than what they have because of bigger earnings ahead once the market price strike tremendously.

[Averim]

People are getting up and realize the opportunity that is given by Bitcoin and each of us who has some speared money they will simply invest it in crypto assets like Bitcoin.

[vaughn125]

For me, I think that the reason why people are still buying crypto currencies despite the big losses that some have suffered is because they see the potential in this industry and the hundreds of innovations that this industry can offer to the world which can solve real problems that we currently have and problems solved is equal to people paying for the solution which in return can make good profits for the investors. Another reason would be the thought of making money easier than the traditional way or the thought of hitting it big.

[gabmen]

Definitely because bitcoin is the head of the cryptocurrency they believe in the capabilities that it brings to whole cryptomarket that is why many people don't stop buying bitcoin and continue invested more than what they have because of bigger earnings ahead once the market price strike tremendously.

And why won't theu buy bitcoin? We've all seen thr potential of btc when it peaked mid december. And it can very well happen again. Some people probably got disinterested when the value plunged but that just goes to show that there will always be opportunities to get back in the market.

[Cointertrade]

OP: you are forgetting: it's fun. there's a lot of people that love the idea of an internet currency. it's very fun. that alone makes it worth something. it's rare. people still seek old baseball cards. etc, etc, think outside the box!

maybe because i think is they can have a bigger profit on buying bitcoin we all know already why we are buying bitcoin just like what we are doing trading we can have bigger profit, we can have it when we buy bitcoin in lower price then after that we can sell it in higher price thats why people are still buying bitcoin.

[Ampong2121]

Different people have different preferences. Just like how some people prefer to use cash when dealing, some prefer debit card, some credit card and etc. Each method have their advantages and disadvantages, but people still use them. Same argument for bitcoins.

Yes its true, every people have their own reason why they still invest and use bitcoin. Some of the people like the security of bitcoin and the profit they get even if they wait for a long time, maybe they want a long term investment.

[superving]

People still buying bitcoin because they believe that bitcoin is our future currency, that  will be use world wide and to all markets and establisments.

[binghope]

At present BTC prices continue to fluctuate, so they generate income for many people. The price difference business is a characteristic of BTC. So they are well known and invested.

[Betheng10]

You are clear non-believer of bitcoin. You see bitcoin offers innovation that could compete with banks online credit card transactions.

Bitcoin could serve as a debit card where you'll transact using your current balance unlike in credit card where you have to accept whatever they charge you with your transactions.

[dragontigear]

You are clear non-believer of bitcoin. You see bitcoin offers innovation that could compete with banks online credit card transactions.

Bitcoin could serve as a debit card where you'll transact using your current balance unlike in credit card where you have to accept whatever they charge you with your transactions.

I thinks popularity of bitcoin makes people continue to buy and hold for long term.

[Wong Gendheng]

Everyone continues to buy bitcoins because they are confident that someday bitcoin prices will become very expensive, and with rising prices will certainly make all users get rich and retire for getting big profits.

[where_adhika]

Why people are still buying BTC ? In my opinion, people are still buying BTC because they are belive that BTC can fulfil their needed. This 'needed' is variative, they still buying BTC because of long-term investment. They still buying BTC maybe they doing trading, they buy BTC in lower price then after that they sell it in when BTC's price goes up. And There are many more reason why people still buying BTC.

[abayan]

As simple as this, those people see opportunity from bitcoin that's why they take the risk to invest here. And I wonder why you are asking us in this forum? Mostly, people especially the newbies are posting here asking for an advice on how to increase their income through bitcoin. It is very ironic that you are in this forum and yet, you don't even know why we are still buying BTC? Sounds ridiculous mate.

[santafewarrior1980]

People are still buying bitcoin not only due to it's popularity but its because they feel the latest increase of the market and they want to earn big profit once it continue  to increase.