Bitcoin research, need your help!

[AsbinKS]

Hi guys,

I am currently working on a research on bitcoin and to proceed, I need some answers as to people's motivation behind investing in bitcoin. Could you folks please help me by answering my questions? Would appreciate your comments!



Q1. What are your main reasons for investing on bitcoin?

Q2. What do you use bitcoins for?

Q3. Where do you see bitcoin headed going into the future?

Q4. What are your main concerns while holding bitcoins? Do you fear the backlash from society, environment (online/offline), safety features, regulations, market factors, etc.?



Thanks all!

[jimbo2000]

Hi guys,

I am currently working on a research on bitcoin and to proceed, I need some answers as to people's motivation behind investing in bitcoin. Could you folks please help me by answering my questions? Would appreciate your comments!



Q1. What are your main reasons for investing on bitcoin?

Q2. What do you use bitcoins for?

Q3. Where do you see bitcoin headed going into the future?

Q4. What are your main concerns while holding bitcoins? Do you fear the backlash from society, environment (online/offline), safety features, regulations, market factors, etc.?



Thanks all!

Going to be as honest as possible here even though some might not like it.

1. Money, I see bitcoin as an investment, I want it to succeed for other reasons but primarily it's so I can grow my fiat (I don't think bitcoin will become a world currency)

2. Only for investment purposes.

3. I think bitcoin will be more readily accepted but I don't think it will progress as many people think, I see it operating in conjuction with FIAT.

4. My main concerns are a decrease in price, I mostly think that will take the form of regulatory pressure/crackdown. It could also be a drop in interest but I don't see that happening because of the benefits to bitcoin.

[Slow death]

Q1. What are your main reasons for investing on bitcoin?

take profit and because I like technology, I can control my bitcoin, as opposed to saving money in the bank.

Q2. What do you use bitcoins for?

unfortunately the only thing I buy directly with bitcoin are my cell phone recharges, so I buy other things I convert my bitcoins to Fiat, because my country has no place where I can use bitcoin directly

Q3. Where do you see bitcoin headed going into the future?

In the future all people in the world will use bitcoin because people are tired of banks and their politics that only destroy the lives of poor people

Q4. What are your main concerns while holding bitcoins? Do you fear the backlash from society, environment (online/offline), safety features, regulations, market factors, etc.?

I fear regulation

[Dreamace7]

This should not be called bitcoin research your questions are like here are elusive and the topic of this post should be called personal opinion on bitcoin if you want to do a real research you can read books

[harizen]

Hi guys,

I am currently working on a research on bitcoin and to proceed, I need some answers as to people's motivation behind investing in bitcoin. Could you folks please help me by answering my questions? Would appreciate your comments!

Aside from asking each and every users, you can simply take the general answer for that via Google search. Im not sure if you will come back here at this thread to read responses.

Since it's for "research purposes" and not on the purpose of collecting opinion by each person, what you need here is general answer.

Just want you to minimize your work. In that way you will not wait for people's response.

[demenBTC]

Hi guys,

I am currently working on a research on bitcoin and to proceed, I need some answers as to people's motivation behind investing in bitcoin. Could you folks please help me by answering my questions? Would appreciate your comments!



Q1. What are your main reasons for investing on bitcoin?

Bitcoin has given a positive value to the community, especially the economy is getting better

Q2. What do you use bitcoins for?

for a side income and I also use it as the safest asset store

Q3. Where do you see bitcoin headed going into the future?

I see the growth of bitcoin becoming clearer for the future because bitcoin members are increasing day by day, they are starting to recognize the existence of bitcoin

Q4. What are your main concerns while holding bitcoins? Do you fear the backlash from society, environment (online/offline), safety features, regulations, market factors, etc.?

I have no problem holding Bitcoin so far, I feel comfortable with all the systems

[Timmzzy]

Hi guys,

I am currently working on a research on bitcoin and to proceed, I need some answers as to people's motivation behind investing in bitcoin. Could you folks please help me by answering my questions? Would appreciate your comments!



Q1. What are your main reasons for investing on bitcoin?

Q2. What do you use bitcoins for?

Q3. Where do you see bitcoin headed going into the future?

Q4. What are your main concerns while holding bitcoins? Do you fear the backlash from society, environment (online/offline), safety features, regulations, market factors, etc.?



Thanks all!

To be frank with this question:

1. For investment purposes and with no doubt it will be our future currency.

2. Well I actually sell it of for Fiat and use the money (₦) to settle my bills at home and other personal properties.

3. I see bitcoin to be the future fiat like I earlier. Bitcoin is the way and with a great faith that it has come to stay.

4. I hold bitcoin regarding the value it will come up on and also what I fear most it's regulations.

[franky1]

Q1. What are your main reasons for investing on bitcoin?

hold funds in a deflationary currency that buys requires less coins to get you more stuff as time progresses.
as oppose to fiats deflationary currencies with requires more bank notes for the less stuff as time progresses.

Q2. What do you use bitcoins for?

income, pays for living costs, a little bit of day trading for fun

Q3. Where do you see bitcoin headed going into the future?

the technology has been stagnant for last few years. since 2015 the only alterations to bitcoin, have been to twist it to be able to work with a separate network that other coins use. but that separate network has issues and is not a blockchain and will inevitably turn into a banker2.0 network. so we just have to wait out untill devs realise that bitcoin network needs to concentrate on the bitcoin network. not tweaked to fit in with non blockchain networks.

Q4. What are your main concerns while holding bitcoins? Do you fear the backlash from society, environment (online/offline), safety features, regulations, market factors, etc.?

regulations pfft.. they tried regulating alcohol into prohibition a century ago.. people still got drunk.. same with war on drugs, people still got high.
regulations are meaningless paperwork t make businesses into police officers monitoring their customers use.
people will simply just stop using those services if the policies of that service got too restrictive.

safety, well having a backdoor in bitcoin where devs can "inflight upgrade" anything they like without consensus is a safety concern. in IT industry its called a backdoor/trojan entry point. hopefully devs realise the thing that gives them a back door which they think is great for them, is bad for the network security and they plug the hole and go back to using real consensus

backlash from society. is just words. if americans dont like euro, they dont use the euro.. doesnt mean the euro is dead.
if people dont like bitcoin. they dont use it. doesnt mean it dead

environment. well many scream about electric use. but as of this year if we were still CPU mining it would need 10 trillion PC's to get bitcoins hash difficulty. or 330billion GPU's
but earlier this year it only needed 3.5million ASICS. and as of end of this year if the hashrate was the same only 1.4m ASICS
electrically
if a PC uses 0.25kwh thats 2500twatt
if an asic S9 uses 1.3kwh thats 40twatt
if an asic T15 uses 1.6kwh thats 20twatt

(though WAY LESS than 50% of mining is performed in china.. lets be devils advocate and assume 100% china)
china alone produces 6000twatt(5220twatt demand). and 13% if that goes to waste unused(780twatt waste)

so mining bitcoin does not even enter the demand portion. but is buying up the waste electricity. and only a small part of that waste electricity.
putting it to good use (its like buying up perfectly consumable fruit, that is just going to land fill due to it expiring)

and like i said thats just stats of one countries electric use

[teejayrichard2]

i invested in bitcoin years ago because of the ideology, how amazing it is transfering huge ampounts of money with split seconds in the comfort of your home. I see bitcoin in the near future becoming a major source of transaction in the financial world in the nearest future. Though price changes every now and then, I just feel thats because people are still getting to get comfortable and really understand bitcoin.

[AsbinKS]

This should not be called bitcoin research your questions are like here are elusive and the topic of this post should be called personal opinion on bitcoin if you want to do a real research you can read books

I will definitely come back and read all the responses. In fact, I keep checking every 30 minutes until I have a handful of people responding to me. By research I meant my bachelor thesis and for that purpose I needed some real people to get their opinions about the questions i presented. I will need to be collecting as many primary data as possible to include in my thesis, and hence like one other user said, i cannot really "google" to get the answers I need for my report.

But thank you to all the remaining members, who have put their efforts in answering!

[AsbinKS]

Hi guys,

I am currently working on a research on bitcoin and to proceed, I need some answers as to people's motivation behind investing in bitcoin. Could you folks please help me by answering my questions? Would appreciate your comments!

Aside from asking each and every users, you can simply take the general answer for that via Google search. Im not sure if you will come back here at this thread to read responses.

Since it's for "research purposes" and not on the purpose of collecting opinion by each person, what you need here is general answer.

Just want you to minimize your work. In that way you will not wait for people's response.

The motive is to collect primary data, just like one would do going out on the street and collecting opinion. Where I live (finland), it is quite weird going out and asking questions to random strangers and I guess, I could put out an online survey collecting answers from friends, but I believe this is a rather "specific" place and in fact a more suitable place to gather primary information. I should have clarified myself better, my bad!

[veleten]

This should not be called bitcoin research your questions are like here are elusive and the topic of this post should be called personal opinion on bitcoin if you want to do a real research you can read books

I will definitely come back and read all the responses. In fact, I keep checking every 30 minutes until I have a handful of people responding to me. By research I meant my bachelor thesis and for that purpose I needed some real people to get their opinions about the questions i presented. I will need to be collecting as many primary data as possible to include in my thesis, and hence like one other user said, i cannot really "google" to get the answers I need for my report.

But thank you to all the remaining members, who have put their efforts in answering!

if I'm not mistaken you have already asked similar questions on a different newbie account
anyways will try and answer the questions:

1. bitcoin has shown fantastic results as a store of value and is one of the most profitable assets to invest in longterm
(that is if you haven't invested in it when the price was 17.000$)
besides it has a deflationary mechanisms inbuilt , add to that the continuous loss of coins that adds value as well
2.I use bitcoin to invest in different bankrolls, for some purchases of digital goods and some trading
I gamble with cryptocurrency, not only bitcoins , too
I get paid in bitcoins for doing online jobs
3.expecting it to be alive and well for years to come
waiting for the Lightning network fully operational so we may see bitcoin not only as a store of value but a valid payment system, competeing with the likes of Visa and Mastercard
4.my main concerns would be security issues, since the transactions are non reversible
it will be very difficult if not impossible to recover stolen or lost coins
another major concern is that there will eventually appear a "superbitcoin" , some coin that
will be better coded, more anonymous, has faster transactions- all in all a "bitcoin killer" if you wish
and that bitcoin will lose its market dominance and eventually, value

[AsbinKS]

This should not be called bitcoin research your questions are like here are elusive and the topic of this post should be called personal opinion on bitcoin if you want to do a real research you can read books

I will definitely come back and read all the responses. In fact, I keep checking every 30 minutes until I have a handful of people responding to me. By research I meant my bachelor thesis and for that purpose I needed some real people to get their opinions about the questions i presented. I will need to be collecting as many primary data as possible to include in my thesis, and hence like one other user said, i cannot really "google" to get the answers I need for my report.

But thank you to all the remaining members, who have put their efforts in answering!

if I'm not mistaken you have already asked similar questions on a different newbie account
anyways will try and answer the questions:

1. bitcoin has shown fantastic results as a store of value and is one of the most profitable assets to invest in longterm
(that is if you haven't invested in it when the price was 17.000$)
besides it has a deflationary mechanisms inbuilt , add to that the continuous loss of coins that adds value as well
2.I use bitcoin to invest in different bankrolls, for some purchases of digital goods and some trading
I gamble with cryptocurrency, not only bitcoins , too
I get paid in bitcoins for doing online jobs
3.expecting it to be alive and well for years to come
waiting for the Lightning network fully operational so we may see bitcoin not only as a store of value but a valid payment system, competeing with the likes of Visa and Mastercard
4.my main concerns would be security issues, since the transactions are non reversible
it will be very difficult if not impossible to recover stolen or lost coins
another major concern is that there will eventually appear a "superbitcoin" , some coin that
will be better coded, more anonymous, has faster transactions- all in all a "bitcoin killer" if you wish
and that bitcoin will lose its market dominance and eventually, value

You're right. I posted the questions on reddit, but nobody's answering. Thanks for your help!

And if I have not made it clearer in my previous posts, thanks for all of your comments!

[novikov433]

Now it's time to invest in a crisis, bitcoin is currently consolidating and will show which technologies should be left and which ones should be forgotten forever. As for me, people are preparing for earnings in virtual reality.

[maianh09]

Hi guys,

I am currently working on a research on bitcoin and to proceed, I need some answers as to people's motivation behind investing in bitcoin. Could you folks please help me by answering my questions? Would appreciate your comments!



Q1. What are your main reasons for investing on bitcoin?

Q2. What do you use bitcoins for?

Q3. Where do you see bitcoin headed going into the future?

Q4. What are your main concerns while holding bitcoins? Do you fear the backlash from society, environment (online/offline), safety features, regulations, market factors, etc.?



Thanks all!

I invest in Bitcoin because it is one of my hobbies and it is also a potential investment.
I use Bitcoin as a valuable reserve when its price increases.
I do not see anything that contradicts Bitcoin has a beautiful future, I only believe in it.
Bitcoin built by Blockchain technology and this technology is safe so it can not hack.

[minairia3]

Q1. What are your main reasons for investing on bitcoin? - Because it is the future of money/ the new currency

Q2. What do you use bitcoins for?- In p2p transactions primarily (financially)

Q3. Where do you see bitcoin headed going into the future? - Getting good and will  have a huge part in the economy

Q4. What are your main concerns while holding bitcoins? Do you fear the backlash from society, environment (online/offline), safety features, regulations, market factors, etc.?
-environmental factor and regulations as well as the volatility

[Dondont]

Hi guys,

I am currently working on a research on bitcoin and to proceed, I need some answers as to people's motivation behind investing in bitcoin. Could you folks please help me by answering my questions? Would appreciate your comments!



Q1. What are your main reasons for investing on bitcoin?

Q2. What do you use bitcoins for?

Q3. Where do you see bitcoin headed going into the future?

Q4. What are your main concerns while holding bitcoins? Do you fear the backlash from society, environment (online/offline), safety features, regulations, market factors, etc.?



Thanks all!

1. actually the reason for bitcoin investment for me is, just to get profit in the future.

2. the use of bitcoin I've ever used is to buy goods whether it's digital or genuine.

3. seeing current conditions, bitcoin still has a chance, only for a longer time to be achieved.

4. security of the market of course

[palle11]

Q1. What are your main reasons for investing on bitcoin?

Because it is highly profitable because of its volatility, although for this year, it has been down.

Q2. What do you use bitcoins for?

For investment / payment of transactions.

Q3. Where do you see bitcoin headed going into the future?

Q4. What are your main concerns while holding bitcoins? Do you fear the backlash from society, environment (online/offline), safety features, regulations, market factors, etc.?

I see bitcoin being the generally accepted cryptocurrency in the future so I don't have any fear.

[vamshi789]

This should not be called bitcoin research your questions are like here are elusive and the topic of this post should be called personal opinion on bitcoin if you want to do a real research you can read books

yes i totally agree with you, study your own with talkpage google and books it will help you, the main reason to invest is making money.

[batang_bitcoin]

1. I invested to bitcoin before without any main reason. I just felt like I have to buy it because my friend told me to do so.

2. Paying utility bills.

3. Far away from our expectation.

4. When I need to some cash and need to sell bitcoin the price isn't so good. hehe  I'm used to anything now while I'm holding so let just happen what has to happen.