Why I am buying bitcoins - and why I am keeping them.

[bohr]

Some of the info in the OP is stuff most of us knew but I did not knew there were more than 21 million millionaires, do you have a source for that? For a long time I have always thought the price of each coin will get very high if it becomes used all over the world, but if this is true a person that buys a single bitcoin and holds it for a very long time could change his life by just getting into the market right now.

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[DOLONCHAPA]

It is now one types of business actually. If you don't keep or don't buy any single piece of BTC  , from where you make profit? In the present world there has a great significant of coins like BTC. You can make profit from buying and selling this coin. While it's great that Bitcoin has a limited supply, don't focus too much on that since there will always be enough supply in form of sellers looking to unload coins at prices above their entry points. It allows coins to circulate from person to person without anyone ever going to see a completely exhausted market.

[Mahanton]

Some of the info in the OP is stuff most of us knew but I did not knew there were more than 21 million millionaires, do you have a source for that? For a long time I have always thought the price of each coin will get very high if it becomes used all over the world, but if this is true a person that buys a single bitcoin and holds it for a very long time could change his life by just getting into the market right now.

Doesn't really need a source yet this is only just a presumption when he do say about 21 million millionaires which he do talk about bitcoin holders and having positive views wont really be that bad but be sure on the amount you have invested aren't the amounts which you do make use on your daily living or on your full force or all in with your life savings. Only invest on the amount that you can able to risk.

[Dreamace7]

Bitcoin, in my opinion is the best cryptocurrency investment.
It is fairly stable (although cryptocurrencies is a very volatile and unpredictable area).
Bitcoin is less prone to wild fluctuations.
It is limited, so only so many people can own it. This drives the price up.
It has a high value and market cap.
It us the most accepted cryptocurrency.
Many reasons to own bitcoin.

[vuithoinha]

Bitcoin is the first Crypto to use blockchain technology in the financial sector. Bitcoin's Blockchain records all transactions, can not be repaired, can not be fraudulent, so everyone has absolute trust so Bitcoin automatically gets workers a currency.
Basically no one can intervene in Bitcoin's operation once its network is up and running, even its programmers, even without any government decision. Any change must be agreed by the community. Transaction costs are very fast and cheap because transactions are very simple between the computer and the computer, there are no people in the middle of the transaction as traditional transactions.

[pinoyden]

Me myself is not buying bitcoins because im not an investor or trader but i still do earn bitcoins and i did kept them because i have a better plans for them in the future specifically to sell them in a much higher value .

not only in the means of earning a profit but also to improve my life because im also using my bitcoins to pay someone and to pay my bills instantly without needing to travel far away from my home . bitcoin is really an amazing tool .

[droptableguy2]

I think you have to know your self the purpose and why you buy bitcoin, don't just follow the trend and don't know what you are going to face, you have to ask yourself dude, why do you have to invest in bitcoin, because that is what will be the foundation for you to  believe to hold bitcoin for a long time

Bitcoin has existed for many years and has many difficulties with it. It has become a great proof that the strength of Bitcoin's efforts is growing. So it keeps the style in the market. Have the trust of the community and represent the electronic market to trade in all different financial sectors. So people trust and want to keep them long.

[xIIImaL]

Me myself is not buying bitcoins because im not an investor or trader but i still do earn bitcoins and i did kept them because i have a better plans for them in the future specifically to sell them in a much higher value .

not only in the means of earning a profit but also to improve my life because im also using my bitcoins to pay someone and to pay my bills instantly without needing to travel far away from my home . bitcoin is really an amazing tool .

I believe you are service provider who I working for bit coin payment mate. As I have invested and waiting to profit alone in the market so buying seems little different for them.

Please check at the good time and invest in the coins according most of the people will looking to buy say bear market and this is the time for it.

[pedangrusak]

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?

[NikalaiGoglinski]

this is one of the best speculation about bitcoin.
thank you

[thresher]

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.

[Sunshangxiang]

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]

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.

[HatakeKakashi]

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.

[eekkaa]

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.

[doomloop]

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.

[richminded]

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.

[Sadlife]

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.

[Oasisman]

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.

[onrise]

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.