Why people are still buying BTC?

[magmar]

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 I think that 99.99 % of the bitcoins exchanged are never withdrawn from the exchangers, and the people are only waiting to make some profits.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

Because they still trust bitcoins as easy as that because there are people who put not just trust but faith in bitcoins so even if the bitcoins fall because of what bitcoins have done to them before they still know and hope that the bitcoins will rise up to the top again even if they are having a hard time for a long run now. That is why the bitcoins are still the number one compared to all the cryptocurrency because of the people because of those who so not doubt the capabilities.

[miltonpogi]

High fees in making transaction with BTC is the main issue that why many alternative currency propose lower fees and many agendas, but people remain to buy BTC for other exchange and payment purposes. People extend to hold BTC cause they are expecting a high profit if ever BTC will inflate in the last months of the year, similar on the occurrence last year. As of now BTC is the basis of most currency in cryptoworld that's why intensity in competition multiply.

[TedMosby]

Why people are still buying BTC?
because people still believe in bitcoin. the stereotype of bitcoin that will go up every end of the year also make this happen.
people wanna make profit from that situation, they dont really care about the technology (blockchain) behind it. the same thing happen with some clearly "useless coin" that always has buyers.

[darsiderin]

People are still buying bitcoin because they believe in further price growth. And Bitcoin has made many millionaires and billionaires only by trusting and investing on this technology. So I think that it's okay that people still buying bitcoins and doesn't matter what reason.

It's funny, this topic is 2013 and the author dissuades buying bitcoin)) His price then (April 19, 2013) was about $ 130, and now about $ 6000. In my opinion, this is a very good investment))

[amwer]

While the points you mentioned are true, you shouldn't forget the benefits. It doesn't depend on one leadership figure like Litecoin oder Bitcoin Cash. The tech might suck, yes, but its functioning, unlike some other Top 10 coins at the moment. Plus it will always have the first mover advantage. All this provides security to crypto investors. I see Bitcoin as a sort of digital gold.

[joebrook]

People are still buying bitcoin because they believe in further price growth. And Bitcoin has made many millionaires and billionaires only by trusting and investing on this technology. So I think that it's okay that people still buying bitcoins and doesn't matter what reason.

It's funny, this topic is 2013 and the author dissuades buying bitcoin)) His price then (April 19, 2013) was about $ 130, and now about $ 6000. In my opinion, this is a very good investment))

Yeah even though Bitcoins has fallen from $20,000 to $6000 I still believe in the cryptocurrencies. Its without doubt a major setback for those who invested when the value was at $12000 but i believe that with time, It is going to recuperate and rise up again.

[lkjhg]

I think they already know the early bitcoin story appears, from the price of $ 100 to $ 15k. so people are speculating bitcoin prices could be over $ 15k

[coinhunter2050]

There are many ways to invest bitcoin gold, and you can exchange the gold or coin

[SplendidHunter]

People are invested in bitcoin in many ways.
They see good reasons to stick with it and most of them are thinking long term.
Things crash from time to time, it doesnt mean they are dead.
And besides that profit isn't the main focus for most of the old dogs of bitcoin.

I agree that! If bitcoin just have lost his value it is not mean the Bitcoin is dying. All the things on this market is always cycling, so I can say I am keeping calm.

[codegnome]

I think they already know the early bitcoin story appears, from the price of $ 100 to $ 15k. so people are speculating bitcoin prices could be over $ 15k

Yes, and it is possible. I believe on that, bitcoin will back to his normal price and all of us will be happy.

[Karakas]

because they know bitcoin will continue to grow and will continue to increase so if invested in bitcoin will remain profitable and I think that's the reason why people are still buying bitcoin

[Bastok]

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.

They're still  buying bitcoin because they believe it will rise again and it is only temporary the status of bitcoin price right now.  They only take advantage to buy bitcoin in a lower price and hold the coin until the price high. Or they have different reasons to but it, it based on their plan or strategies.

[stellgod]

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.

Those peoples who is still buying bitcoin as their coin is those person who's still believing in bitcoin, they are believing that after all the dump's that bitcoin experience it will soar again at its best and make itseld great again

It will not be in the benefit of people if they sell out in this low market but loss and nothing more. On the other hand it will be in the benefit of those who want to invest in the market; this low market will charge us less for more quantity of coins which is a huge benefit. If we invest now then we will successfully achieve large quantity of coins and this collection will payoff the most in future.

[Nyenyepogi]

People continue to invest in Bitcoin because of the benefits it can give to people especially to every investors. They believe that it has a good potential and will continue to grow in the market. Earning huge profit in bitcoin is the reason why investors continue to patronize bitcoin.

I agree and people think it a good assets that can very useful for the the future, So people keep buying bitcoin even its on dip and I think that is the good strategy to buy bitcoin at the low price since bitcoin is very volatile they know they can double their capital.

[richjjw]

All you see are negative issue about bitcoin, open your mind guy's. Asking  why people are still buying bitcoin? Becouse there's a lot of opportunities with bitcoin, it helps providing people and extra income. Bitcoin changes our economy, bitcoin help many people to have part time and full time job to do bitcoin, and there's a lot of thing's to do with bitcoin.

[bitgolden]

for us to buy bitcoin to save money and earn a lot of profit. because for us bitcoin is also our easy investment to get more profit, so I will still believe that bitcoin is also a good future to generate many benefits.

Many reasons are up here which make people to invest and use the Bitcoin. Firstly, the response of Bitcoin no matter how long it takes to recover after a down fall because we know that it is a long term investment.

Secondly, profit here is the most and more than all the other currencies that is why it is a better choice of people. Furthermore it showed potential and can be the future currency for most of transactions that is why it is a better sight of people.

[Vs225655]

  Because the price is low. Everyone wants to make easy money. Buy with the hope that then the price will increase and accordingly you are left in the winnings. But this is a risky thing as bitcoin can lower even lower, or make x20 and then everyone will be happy)

[embargo]

Buy bitcoin, because it has a price. And they show with hope that there will be a price increase. People are mercantile. And each determines for himself the optimal entry point to the crypto currency market. Someone analyzes himself, someone uses available analytics. Everybody wants to make money.

[xyandrobot]

Because btc has many who know as the best coin to invest. everyone sees btc without looking at the technology. many coins or tokens that have better technology than btc.

[Comfort1]

Most investors are buying BTC with the expectation that the market will stabilize soon.The current is down making them putting in much effort to gain some coins and store for selling if the prices spike.No one wants to lose in a business