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

[DeadCoin]

I don't think that people would pitch into such marvelous platform for none other than profits. Everyone has his or her own set of goals when trading. At last the wallets has to be filled out.  Lot more can be shared but the main outcome is the turn over or profits. Its all about a business. Everyone is here doing his business longing for profits. That's what the goal of trading.

[thunderbitz2717]

If I am going to remember way back 2014 Bitcoin by that time was below 1000$, in fact, it was declined by that period of time were Bitcoin fell down into below 200$ then it was a pity for me why I shouldn't buy it, then after a couple of months it was arise up to more than 1k$ almost then until 2017 bitcoin came up to the point that it reached more than 19k$ almost each bitcoin, so now I keep buying bitcoin for believing that someday it will go back again to that amount of value or more, we don't know what would possibly happens in the future.

[davinchi]

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.

People saying that they are buying and saving Bitcoin just because it has 21 million limit sounds funny to me. Like seriously, what made you believe that Bitcoin is going to finish and that there won’t be any left for you to buy? This is really funny. Even if all 21 million Bitcoins are mind up, there will still be enough for you to buy.

There are selling and buying of Bitcoin everyday and as lots of people continue to buy and sell, the price will also continue to increase. A time will come and what majority of the people will be talking about is buying in Satoshis and not even one Bitcoin.

[ipanks]

We buy bitcoin now because today, bitcoin is the best investment that we can use and bitcoin can give a big profit in the long-term. And this is why that many of us still keeping bitcoin at the low price like today and they will sell bitcoin when the price can come back to the highest price. It is what I did too, and I don't want to miss something because I know that if I can buy and hold bitcoin, for now, I can make a lot of money too like other people. So, for people who are missing the time to buy bitcoin, maybe this is a good time for you to buy bitcoin before the price increases in the next month so you cannot buy a cheap bitcoin later.

[onrise]

We buy bitcoin now because today, bitcoin is the best investment that we can use and bitcoin can give a big profit in the long-term. And this is why that many of us still keeping bitcoin at the low price like today and they will sell bitcoin when the price can come back to the highest price. It is what I did too, and I don't want to miss something because I know that if I can buy and hold bitcoin, for now, I can make a lot of money too like other people. So, for people who are missing the time to buy bitcoin, maybe this is a good time for you to buy bitcoin before the price increases in the next month so you cannot buy a cheap bitcoin later.

People who invest for the short term perspective buy due to make the best of the short term rise. Those who are long term investors do not worry much about price fall as they will be holding for couple of years and they know that by that time it will give them multiple returns.

[Keyboard PC]

Your statement can provide inspiration for many people who have just known bitcoin and are confused about buying bitcoin or not, this bitcoin has a very high risk but you have to realize in the future there will be a lot of technology created and there will be lots of currencies digital and something will certainly be many who develop digital so that it will make digital currencies like bitcoin very useful and useful.

[Arsedunn]

Your statement can provide inspiration for many people who have just known bitcoin and are confused about buying bitcoin or not, this bitcoin has a very high risk but you have to realize in the future there will be a lot of technology created and there will be lots of currencies digital and something will certainly be many who develop digital so that it will make digital currencies like bitcoin very useful and useful.

I myself buy bitcoin for a bright future. I think that bitcoin is the only way from which I can make huge profits in less time. no other business in the world can give you such a huge profits in short time. The price these days is not good and that is the reason for my holding and also I want to sell them in the far future when the price is atleast $30000. Till that time I will hold my coins.

[quichiship]

We buy bitcoin now because today, bitcoin is the best investment that we can use and bitcoin can give a big profit in the long-term. And this is why that many of us still keeping bitcoin at the low price like today and they will sell bitcoin when the price can come back to the highest price. It is what I did too, and I don't want to miss something because I know that if I can buy and hold bitcoin, for now, I can make a lot of money too like other people. So, for people who are missing the time to buy bitcoin, maybe this is a good time for you to buy bitcoin before the price increases in the next month so you cannot buy a cheap bitcoin later.

People who invest for the short term perspective buy due to make the best of the short term rise. Those who are long term investors do not worry much about price fall as they will be holding for couple of years and they know that by that time it will give them multiple returns.

It is the need of life. In the future when people will use their bitcoin as their regular currency and you do not have any bitcoin then you will rub your hands with sorrow and will blame yourself why you didn’t buy bitcoin earlier. Bitcoin is the leading cryptocurrency and will take over the market in the future. People will use only bitcoin for their needs and everything.

[upsidedown75]

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.

You have quite a good plan, If you continue this for a long term you will benefit from it in future. This is just like those early investors of Bitcoin, if there is anyone of them that had such plan and held their Bitcoin for a long time, maybe for a decade, I know that they will be happy and thanking their stars that they did. But the question is who is ready to do that? LOL, I can’t even do it, I’m into short-term investments and the longest I can hold a coin is one year.

[bitbunnny]

To be honest, buying Bitcoin is the worst way to get to it. With all available possibilities for earning Bitcoin this is something you should choose.
Still, if you have some extra funds that you don't need and can afford to lose, invest it. But don't do that if you don't have some good strategy, both short term and long term and some back up plan.
And remember that best profit you will make on long term basis.

[hannahboy]

You have all the good reasons.  But I guess most of the people buy bitcoin with the expectation that bitcoin will rise in value.  It is all about profit.  I also have the same intention, to make money out of this investment. No doubt that the reasoning is backed by the technology behind bitcoin.

You are buying bitcoin because it is a profitable investment and you can make handsome money if you hold your coins for some time. Other advantage of buying and holding is that you can use your coins anywhere in the world anytime without exchange. You can transfer your coins to the supplier or company form your blockchain wallet. You will feel ease while using your coins.

[Mespirst]

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 buy Bitcoins but I don’t keep. I had plans to keep them last year when the price was increasing, but when it dropped from $19k to $17k, I had no other option than to sell everything immediately before it gets to my cost price and I begin to lose everything.

This year I bought a few Bitcoin but the way I’m seeing it I might not be holding it for long cause, unless it becomes stable. I heard that the price will even fall more.

[pinkpanther03]

I am not buying bitcoin, but because of the bounty rewards which I gained in the bounties, once it has been send into my wallet ERC20 of course  I will trade it in the exchange site platform to sell it then, once its has been done it will automatically convert into my bitcoin balance as my profit. Its up to me if what am I gonna do with it, whether I will save the 25% of my earnings then hold in a long term, just simple as that, isn't right?

[drachman]

I buy Bitcoins but I don’t keep. I had plans to keep them last year when the price was increasing, but when it dropped from $19k to $17k, I had no other option than to sell everything immediately before it gets to my cost price and I begin to lose everything.

This year I bought a few Bitcoin but the way I’m seeing it I might not be holding it for long cause, unless it becomes stable. I heard that the price will even fall more.

Buying bitcoin right now is probably one of the best things that anyone can do, do not listen to the rumor that say that bitcoin can go even lower because most likely that rumor is false, I know that a lot of people are nervous because of what happened with the crash that we saw the beginning of this year, but now it is almost impossible to see a crash like that occurring now that the price is so low.

[sana54210]

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 don’t buy Bitcoin just because I think it will be anything or maybe currency of the future just like some people think. I just see Bitcoin as an investment that grows, so I keep on investing in it no matter what. And some of your points/reasons are good but not all of them.

What do you mean by cash (conventional currencies) are being devalued, like how? Every country has their currency and is all not having the same value. That is why some people would usually buy dollars and keep.

[syamster]

I am not buying bitcoin, but because of the bounty rewards which I gained in the bounties, once it has been send into my wallet ERC20 of course  I will trade it in the exchange site platform to sell it then, once its has been done it will automatically convert into my bitcoin balance as my profit. Its up to me if what am I gonna do with it, whether I will save the 25% of my earnings then hold in a long term, just simple as that, isn't right?

I am buying bitcoin because I think It is the future currency and I also have big dreams for my future and I think that only bitcoin is the place where I can get huge money and fulfill my dreams. There is no other business in the world which can give me big profit and without any hard work. I signature and bounty campaigns I can earn free bitcoin without any investment.

This is nice and useful discussion, you are right all about bitcoin, all of us are holding and investing our money to bitcoin with an aim of being rich, actually different people has different purpose, some are investing just to bound their extra money and some are investing to get profit, it will make some people rich, my aim of holding and investing into bitcoin is to have better future life which is possible only because of bitcoin.

[tbterryboy]

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 don’t know if this guy is still keeping his Bitcoin till now cause there is a price difference between what he bought then and now. Anyone who bought all this while that price has been down to $6000 is really luck and should keep it. $6000 seems to be the lowest that price will ever be before the next bull run that will take place, although I don’t know when that will happen. December is already approaching and I don’t know if there will be any bull.

[Daboy_Lyle]

This question is very related this months because we are experiencing bearish. Why I am still buying bitcoin even price continues to fall and why I am keeping them? I still buying bitcoin bitcoins because this is really profitable and it will rise again. Keeping bitcoin is a good example of a wise trader. Holding bitcoin is good especially when price is low and you'd invested it before and you don't want to get loss. Continuously buying bitcoin will help you gain bigger benefits.

[Whosdaddy]

Okay, everything was good until you mentioned cash. So what exactly do you think is wrong with cash ?
Your point there made no sense  to be sincere. For a currency to lose value is a normal thing, currencies can’t stay stable ,even Bitcoin loses value and is worst than any other in terms of having stability.

Bitcoin is good, but it is not the best overall as you’ seem to crown it the best. And just in case you don’t know, banks can never froze your account for no reason.

[syamster]

This question is very related this months because we are experiencing bearish. Why I am still buying bitcoin even price continues to fall and why I am keeping them? I still buying bitcoin bitcoins because this is really profitable and it will rise again. Keeping bitcoin is a good example of a wise trader. Holding bitcoin is good especially when price is low and you'd invested it before and you don't want to get loss. Continuously buying bitcoin will help you gain bigger benefits.

Yes most of time my friends also ask me why I am buying when price and market is getting down but still I am buying and holding so isn’t it bad decision, but I never mind and I try to buy bitcoin as I know it has potential to recover and if price is low now today then tomorrow it will be high once again, profit is certain, it gives me future satisfaction, that’s why I buy bitcoin.