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Author Topic: Why I am buying bitcoins - and why I am keeping them.  (Read 2373 times)
ooeygooeygold
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August 22, 2018, 01:44:45 PM
 #101

You've got great and valid reasons to buy as many bitcoin as possible against the future. Many people wish they knew bitcoin early enough. As at today it is an opportunity worth taking and it will definitely pay off in the end. No wise person will let this great opportunity elude him.
Investing in Bitcoin is a risky investment, but the return on investment is immense so investors should consider investing in Bitcoin as well as cryptocurrency. I used my savings to buy Bitcoin from the beginning of 2018 and now I still keep it.
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August 22, 2018, 02:47:48 PM
 #102

Several years ago I asked in these forums about how I could buy several hundred thousand dollars worth of bitcoin.   It became obvious, back then, that it would be a nearly impossible task.   I would have faced sanctions by my bank, I would have moved the price and I would have had to deal with a mysterious Japanese company called MtGox.

In the end, I sadly took no action.

Everything has changed.  It is now 5X easier to buy bitcoin.   I am now a regular buyer of bitcoins.  I don’t care that the price is 10X or 100X what I could have had them for.

So why am I buying now?

Exclusivity
Firstly, there will never be more than 21 million bitcoins.   There are more millionaires than that.   I like to own something that not every millionaire will be able to own.  It’s exclusivity.   I own something that has a limited supply, so not everyone can own one, but I’ve got lots of them.

I don’t need to ask permission to spend them
Secondly, I like the fact that bitcoin is “permission-less”.   I won’t ever have to ask permission to spend or use my bitcoins - not that I plan to use them. Everything else I own (in the form of financial assets) is in the hands of a bank or a custodian.  I can’t spend my money without permission from my bank or credit card company.  

Bitcoin can’t be “frozen”
If a business deal goes wrong, if someone sues me, if a future wife divorces me and says “I get everything”, if I am friends with a sanctioned political leader - because you survive by being on the side of those in power, - if, if, if, if....... so many things might go wrong.  I could wake up one morning, and find my bank accounts frozen, and my credit cards don’t work.   They can’t ever freeze my bitcoin.   The code is in my head.

What’s wrong with cash or gold bars?
The most obvious disadvantage with cash is that it is being de-valued all the time. It’s great to own for a year or two, but in the long run it’s going towards zero.   Secondly, they change the colour and design of the bank notes every few years.  You have a limited time to change old for new.  Then, if you are changing more than a small amount, you have to start answering questions and providing documents.   Lastly, you can’t cross the border with more than 10’000 dollars or euros in cash without filling in forms, which could lead to another line of questioning.

As for gold, it also is difficult to transport without customs declarations.  Gold bars or coins are not easily divisible into smaller sizes.



a very complete and interesting discussion of the oldest crypto, bitcoin, with an amount that is almost gone to be mined so that it has a rare value and this will get even more fantastic value. crypto can cross countries or continents without any restrictions and regulations (this is what many countries fear) and if you are a corruptor and spend a lot of your fiat on crypto, can the country investigate and withdraw your crypto?

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August 22, 2018, 05:59:06 PM
 #103

this is one of the best speculation about bitcoin.
thank you
thresher
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August 23, 2018, 09:14:20 AM
 #104

I think Bitcoin is an asset of the future. Technology is changing, our future is probably not going to use the cash, crypto will replace all of them and Bitcoin will always be the king of this market, so it's natural to own it.
Yes no doubt that bitcoin is an assets and most of the people are holding bitcoin only for the purposes to make profit from it. But I think that different people may have different reason for that. May be some people are buying and holding bitcoin only for the purpose to use it for online buying and shopping purposes.

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August 23, 2018, 10:17:07 AM
 #105

Thank you very much for your meticulous analysis. I am a Bitcoin believer. I have always believed that Bitcoin will have a very good future in the future because it is a unique coin!
Marlo0619
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August 23, 2018, 01:52:09 PM
 #106

We are buying bitcoins because we want to sell it in a higher price than the price when we bought it. Since bitcoin's price is very low now, it is a chance for us to buy and just hold it until the price come back which is a high price like last year. When it does, we can sell it so that we can make more profit.

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HatakeKakashi
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August 23, 2018, 02:17:00 PM
 #107

Bitcoin si good to buy because you can get high chance to get more profit because the price of the bitcoin now are dumping and after the price decreased we will see the price of the bitcoin become 10k dollars again upto 20k dollars.

Keep your bitcoin and don't sell it because if you keep your bitcoin in your wallet you can help to the community to recover fast and that is good to see that. There's a lot of benefits of holding and buying bitcoin now and better if you have good decision and that bitcoin price up again .

Before yoy buy you must first why you need to buy more bitcoin in their wallet.

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August 23, 2018, 04:16:09 PM
 #108

yes you are really bitcoin is very special and bitcoin is now a lot of neagra who started using bitcoin as one of the solutions for a safe and convenient payment method.

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August 23, 2018, 08:01:49 PM
 #109

Thank you very much for your meticulous analysis. I am a Bitcoin believer. I have always believed that Bitcoin will have a very good future in the future because it is a unique coin!
Yeah same as you I really trust bitcoin I have strong faith for it, gradually and time passage is making it higher in value and importance so I think all of us should try to involve in bitcoin and keep it, buying is good because it makes good amount of profit and holding is good because it gives more profit for holding it long time, now we are in modern age where we need such things to change our life.

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ivankoh
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August 23, 2018, 09:49:14 PM
 #110

We are buying bitcoins because we want to sell it in a higher price than the price when we bought it. Since bitcoin's price is very low now, it is a chance for us to buy and just hold it until the price come back which is a high price like last year. When it does, we can sell it so that we can make more profit.
In today's turbulent market, Bitcoin is still the coin that has received much support and led the entire cryptocurrency market. I think the future of this market depends quite a bit on the value and volatility of Bitcoin as it dominates the crypto market.

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August 24, 2018, 02:52:13 AM
 #111

I have invested in bitcoin  because i think it is the investment product of the future, this is only the beginning and it will lead the way for other similar digital products. It is like computers or the internet, not many people believed in it but those that did made a fortune. i am in it to win it, planning ti hold on until the market gets back on track again. for now I am saving and waiting to see how low the market will go before i start to invest in some more crypto currencies.
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August 24, 2018, 03:19:56 AM
 #112

yes you are right there should be a lot of new traders who read this to make them aware when having bitcoin and other cryptocurrency will give you a lot of benefits when saving and growing into a lot.

richminded
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August 24, 2018, 03:27:34 AM
 #113

yes you are right there should be a lot of new traders who read this to make them aware when having bitcoin and other cryptocurrency will give you a lot of benefits when saving and growing into a lot.
Bitcoin is proven over the years now and those who keep on buying this coin for sure they get what they deserved to have. Higher profit is possible, especially when you always buy at a dump price and hold it until the price pumps again. Imagine the increased volume of bitcoin user, the future is here we should adopt the system now.

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Sadlife
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August 24, 2018, 04:46:36 AM
 #114

This is why bitcoin is favorable as an investment because it's free from regulations or government control. And it's much more profitable than fiat or gold investment cause of it's volatility that will not make your money stagnant and will have immediate returns. Also it's much more convenient as payment then moving your gold physically.


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Oasisman
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August 24, 2018, 05:26:45 AM
 #115

This is why bitcoin is favorable as an investment because it's free from regulations or government control..

I agree, but not for long. Bitcoin regulations has been pushed by different governments from around the world to eliminate such fraudulent activities in crypto space and for the safety of current and future investors. Yet, we all know that the government will directly benifit the most from regulation, as they are going to put ridiculously high transaction fees and taxes in all exchanges in which we as investors will suffer in the latter part.
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August 24, 2018, 05:40:50 AM
 #116

yes you are right there should be a lot of new traders who read this to make them aware when having bitcoin and other cryptocurrency will give you a lot of benefits when saving and growing into a lot.

Bitcoin have so many multipurpose use as it can be used as an investment whether it can be short term or long term. It can be used for the daily purpose needs as if your country has accepted it you can make your bill payments through btc or other daily needs item can be brought from it.

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August 24, 2018, 08:05:40 AM
 #117

Several years ago I asked in these forums about how I could buy several hundred thousand dollars worth of bitcoin.   It became obvious, back then, that it would be a nearly impossible task.   I would have faced sanctions by my bank, I would have moved the price and I would have had to deal with a mysterious Japanese company called MtGox.

In the end, I sadly took no action.

Everything has changed.  It is now 5X easier to buy bitcoin.   I am now a regular buyer of bitcoins.  I don’t care that the price is 10X or 100X what I could have had them for.

So why am I buying now?

Exclusivity
Firstly, there will never be more than 21 million bitcoins.   There are more millionaires than that.   I like to own something that not every millionaire will be able to own.  It’s exclusivity.   I own something that has a limited supply, so not everyone can own one, but I’ve got lots of them.

I don’t need to ask permission to spend them
Secondly, I like the fact that bitcoin is “permission-less”.   I won’t ever have to ask permission to spend or use my bitcoins - not that I plan to use them. Everything else I own (in the form of financial assets) is in the hands of a bank or a custodian.  I can’t spend my money without permission from my bank or credit card company.  

Bitcoin can’t be “frozen”
If a business deal goes wrong, if someone sues me, if a future wife divorces me and says “I get everything”, if I am friends with a sanctioned political leader - because you survive by being on the side of those in power, - if, if, if, if....... so many things might go wrong.  I could wake up one morning, and find my bank accounts frozen, and my credit cards don’t work.   They can’t ever freeze my bitcoin.   The code is in my head.

What’s wrong with cash or gold bars?
The most obvious disadvantage with cash is that it is being de-valued all the time. It’s great to own for a year or two, but in the long run it’s going towards zero.   Secondly, they change the colour and design of the bank notes every few years.  You have a limited time to change old for new.  Then, if you are changing more than a small amount, you have to start answering questions and providing documents.   Lastly, you can’t cross the border with more than 10’000 dollars or euros in cash without filling in forms, which could lead to another line of questioning.

As for gold, it also is difficult to transport without customs declarations.  Gold bars or coins are not easily divisible into smaller sizes.



Clever move. Should try that sometime later
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August 24, 2018, 08:26:27 AM
 #118

yes you are right there should be a lot of new traders who read this to make them aware when having bitcoin and other cryptocurrency will give you a lot of benefits when saving and growing into a lot.

Bitcoin have so many multipurpose use as it can be used as an investment whether it can be short term or long term. It can be used for the daily purpose needs as if your country has accepted it you can make your bill payments through btc or other daily needs item can be brought from it.

Just hope bitcoin prices will rise again this year. If you see the function and security I agree bitcoin already has both. Just volatile price is a big consideration for new people who want to buy bitcoin, even though at volatile prices can bring profit, but they don't know it.

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August 24, 2018, 08:47:02 AM
 #119

Several years ago I asked in these forums about how I could buy several hundred thousand dollars worth of bitcoin.   It became obvious, back then, that it would be a nearly impossible task.   I would have faced sanctions by my bank, I would have moved the price and I would have had to deal with a mysterious Japanese company called MtGox.

In the end, I sadly took no action.

Everything has changed.  It is now 5X easier to buy bitcoin.   I am now a regular buyer of bitcoins.  I don’t care that the price is 10X or 100X what I could have had them for.

So why am I buying now?

Exclusivity
Firstly, there will never be more than 21 million bitcoins.   There are more millionaires than that.   I like to own something that not every millionaire will be able to own.  It’s exclusivity.   I own something that has a limited supply, so not everyone can own one, but I’ve got lots of them.

I don’t need to ask permission to spend them
Secondly, I like the fact that bitcoin is “permission-less”.   I won’t ever have to ask permission to spend or use my bitcoins - not that I plan to use them. Everything else I own (in the form of financial assets) is in the hands of a bank or a custodian.  I can’t spend my money without permission from my bank or credit card company.  

Bitcoin can’t be “frozen”
If a business deal goes wrong, if someone sues me, if a future wife divorces me and says “I get everything”, if I am friends with a sanctioned political leader - because you survive by being on the side of those in power, - if, if, if, if....... so many things might go wrong.  I could wake up one morning, and find my bank accounts frozen, and my credit cards don’t work.   They can’t ever freeze my bitcoin.   The code is in my head.

What’s wrong with cash or gold bars?
The most obvious disadvantage with cash is that it is being de-valued all the time. It’s great to own for a year or two, but in the long run it’s going towards zero.   Secondly, they change the colour and design of the bank notes every few years.  You have a limited time to change old for new.  Then, if you are changing more than a small amount, you have to start answering questions and providing documents.   Lastly, you can’t cross the border with more than 10’000 dollars or euros in cash without filling in forms, which could lead to another line of questioning.

As for gold, it also is difficult to transport without customs declarations.  Gold bars or coins are not easily divisible into smaller sizes.



I agree with you, those are some solid reasons to be interested in Bitcoin.
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August 24, 2018, 09:02:27 AM
 #120

Several years ago I asked in these forums about how I could buy several hundred thousand dollars worth of bitcoin.   It became obvious, back then, that it would be a nearly impossible task.   I would have faced sanctions by my bank, I would have moved the price and I would have had to deal with a mysterious Japanese company called MtGox.

In the end, I sadly took no action.

Everything has changed.  It is now 5X easier to buy bitcoin.   I am now a regular buyer of bitcoins.  I don’t care that the price is 10X or 100X what I could have had them for.

So why am I buying now?

Exclusivity
Firstly, there will never be more than 21 million bitcoins.   There are more millionaires than that.   I like to own something that not every millionaire will be able to own.  It’s exclusivity.   I own something that has a limited supply, so not everyone can own one, but I’ve got lots of them.

I don’t need to ask permission to spend them
Secondly, I like the fact that bitcoin is “permission-less”.   I won’t ever have to ask permission to spend or use my bitcoins - not that I plan to use them. Everything else I own (in the form of financial assets) is in the hands of a bank or a custodian.  I can’t spend my money without permission from my bank or credit card company.  

Bitcoin can’t be “frozen”
If a business deal goes wrong, if someone sues me, if a future wife divorces me and says “I get everything”, if I am friends with a sanctioned political leader - because you survive by being on the side of those in power, - if, if, if, if....... so many things might go wrong.  I could wake up one morning, and find my bank accounts frozen, and my credit cards don’t work.   They can’t ever freeze my bitcoin.   The code is in my head.

What’s wrong with cash or gold bars?
The most obvious disadvantage with cash is that it is being de-valued all the time. It’s great to own for a year or two, but in the long run it’s going towards zero.   Secondly, they change the colour and design of the bank notes every few years.  You have a limited time to change old for new.  Then, if you are changing more than a small amount, you have to start answering questions and providing documents.   Lastly, you can’t cross the border with more than 10’000 dollars or euros in cash without filling in forms, which could lead to another line of questioning.

As for gold, it also is difficult to transport without customs declarations.  Gold bars or coins are not easily divisible into smaller sizes.


In addition to the points raised, the freedom Bitcoin offers in terms of international transaction is revolutionary. If you live in countries where access to foreign exchange is limited, you will better appreciate the power Bitcoin has bestowed on the people. Secondly, if you have face interrogations from the authority for international financial transactions, you will know what freedom awaits us the believers of Bitcoin. I do not see Bitcoin as an investment, rather I see it as a way of life... something that is here to change everything.
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