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Author Topic: Why I am buying bitcoins - and why I am keeping them.  (Read 2586 times)
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August 02, 2018, 03:47:39 PM
 #21

Bitcoin is not only a store of value but also a medium of exchange. And the limited supply adds to the value. As well as agents of the market, demand and supply.
It's worth hodling for the long-term.

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August 02, 2018, 07:08:22 PM
 #22

The thing that you buy and keep Bitcoin is a clever way to master yourself and keep Bitcoin's value. Bitcoin can go from two hundred dollars and increase to 20k last year. It must be easy. We need to recognize that Bitcoin is not only infinite but finite.

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August 02, 2018, 10:22:14 PM
 #23

The thing that you buy and keep Bitcoin is a clever way to master yourself and keep Bitcoin's value. Bitcoin can go from two hundred dollars and increase to 20k last year. It must be easy. We need to recognize that Bitcoin is not only infinite but finite.
This is your property and your right to hold or sell. Keeping many factors in place can leave you waiting for the opportunity or knowing how to use it. Too much attention on the market graph is really time consuming and ineffective.

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August 02, 2018, 10:29:10 PM
 #24

It is indeed a good asset. One could be rich by buying and selling bitcoins. It's great. Bitcoins offer has many advantages. I would much rather have bitcoin as the only means of payment or some other cryptocoin. It's much more secure and nobody knows how much I have. It's a awesome thing to invest in.
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August 02, 2018, 11:11:45 PM
 #25



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.


Great post by the OP, I love the point about exclusivity and the amount if millionaires.
Supply and demand will be a big factor in the future.

I would hazard a guess that the bitcoin whitepaper is grossly misunderstood or ignored
by a lot of people. All of the points made by the OP are exactly why I have bitcoin.

These points are the basics and fundamentals behind bitcoin.

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August 04, 2018, 12:29:56 PM
 #26

Why do I buy bitcoins-and why I keep them. actually I own still qualifies as a new this, about bitcoin and so forth, but I think by buying bitcoin Moreover we buy at current low prices are very good and could take a profit when we sell it at a time when the price of bitcoin high in the online market, we also have to take care of her because of the bitcoin also includes money although digital form but that we can swap into the currency as we want. Therefore if the price goes down again quickly bitkoin we bought it if it can be as much as the number because it could be an investment or savings as well.

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August 04, 2018, 12:45:24 PM
 #27

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.


Yes it is more important thing,the quantity of bitcoin is very much limited when comparing to the world population so if you can have some bitcoins and in few more years the real value of bitcoin will evolve at that time the early investors will get more benefits.Even now the price of bitcoin is very expensive when it was used by very small community of people and let's imagine the value when whole world using it,you will become a millionaire even if you hold few bitcoins.

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August 04, 2018, 08:03:46 PM
 #28

Keeping those bitcoins for 10 years are more, will be a very good idea.
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August 05, 2018, 12:26:08 AM
 #29

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.


Will not be complete if you are not talking about the current disadvantages of bitcoin:
Bitcoin can not inherit, when you lose if your family does not know your password will never get your bitcoin. And that would look like the account died and that bitcoin would take forever
Lack of something called privacy, when someone has your wallet address. They can go to your address and see your balance.
When you move the wrong bitcoin to another address you will not be able to get it back
When you lose your pass or forget it (when you get older or have problems) you have no way of getting back your pass.
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August 05, 2018, 07:15:34 AM
 #30

Currently, according to forecast coin rates, the fever continues to occur as bears are dominating market. No one knows how low price may be, but one thing is sure hundred percent bitcoin will last forever, never goes away, so everyone's job is just Hold.

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August 05, 2018, 09:06:48 AM
 #31

Very nice. I bet it's these same reasons that made many investors opt in for cryptocurrency investment other than the bank or fiat investments. Many investors whom are into bitcoin or any other cryptocurrency investment are all seeking for financial freedom and liberty where they are free to own some certain amount of yet it won't look big and also won't be questioned. The arrivals of bitcoin has indeed  being a blessing.

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August 06, 2018, 09:27:22 AM
 #32

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.


Yes it is more important thing,the quantity of bitcoin is very much limited when comparing to the world population so if you can have some bitcoins and in few more years the real value of bitcoin will evolve at that time the early investors will get more benefits.Even now the price of bitcoin is very expensive when it was used by very small community of people and let's imagine the value when whole world using it,you will become a millionaire even if you hold few bitcoins.
Everyone who is there in the world of the bitcoin has his own reasons for investing in bitcoin and that they have their own different strategies at time when they are busy in dealing with the things related to that of the bitcoin. It is better to hold your bitcoins as holding will then help you in making more profit because the market value of the bitcoin will rise higher with increase in demand.
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August 06, 2018, 11:41:08 PM
 #33

Currently, according to forecast coin rates, the fever continues to occur as bears are dominating market. No one knows how low price may be, but one thing is sure hundred percent bitcoin will last forever, never goes away, so everyone's job is just Hold.
Yeah, even if we hit the real bottom for sure bitcoin will bounce back again. Imagine this technology in the future, where a lot of countries fully accept cryptocurrency, for sure its value will increase more. You are doing a good decision of buying and holding with bitcoin.
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August 07, 2018, 09:52:53 AM
 #34

There are many reasons why we buy bitcoin and why keeping them because bitcoin is an investment and an asset. You can convert it to cash, HODL or trade it to make profit.

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August 07, 2018, 01:29:58 PM
 #35

Sometimes it seems that this obsession with bitcoins borders on obsession.
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August 07, 2018, 01:46:56 PM
 #36

There are many reasons why we buy bitcoin and why keeping them because bitcoin is an investment and an asset. You can convert it to cash, HODL or trade it to make profit.

Great post. I'm starting now and I have a lot of doubts about Bitcoin as an investment asset. I have some experience in the stock market and your post helped me in a comparison.
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August 08, 2018, 12:07:09 AM
 #37

I am buying bitcoin because I want to used it for my trading and I keep some of them for my hodling because I know that in the future that the bitcoin will be having a good price and it will give you a big return of investment. The bitcoin is good for trading and good for hodling cause it has the highest volume and highest price of the coin in the market. No other altcoins can beat the value of the bitcoin that is why when the price of the bitcoin pump and dump it affect the price in the market.
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August 08, 2018, 01:56:16 AM
 #38

Keeping those bitcoins for 10 years are more, will be a very good idea.
One of my plan as well is to keep 1 bitcoin for more than 10 years. This idea wasn't totally mine but I have read this suggestion from someone here in the forum.

It can be our retirement plan or it can also be passed to our children as we grow older.

We're heading to another halving 2 years from now and that can be another increasing trend for bitcoin, remember the effect that took after a couple of months.

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August 08, 2018, 04:47:22 AM
 #39

Indeed people should consider buying bitcoin while they still can because the price is pretty much unpredictable imagine from nothing in 2009 and now it has reached $7000 with it's crazy volatility no one expect that bitcoin would come this far and be used by commerce and e-commerce globally and invested by institutional investors.


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Mundo12
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August 08, 2018, 07:25:58 AM
 #40

The advantages of Bitcoin are pretty much talked about and acknowledged. However, investing in Bitcoin is risky. You can lose all the money in your wallet by hackers, keep your password and key safe Cheesy
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