Bitcoin is not needed but only for investment purposes

[Janation]

Bitcoin should not be compared to gambling.

As stated by a thread in the past, gambling could lose all your money but by investing in cryptocurrencies, you won't be losing that much, and the money you will earn or lose will depend on how much the price change. With a low adoption right now, it is true that it is mainly for investment but there are people that don't just take it as an asset.

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[GeorgeJohn]

Everyone needs bitcoin because since everyone likes money and also always I need of money, I believe people who are lovers of bitcoin really in need of btc because they some persons prefers bitcoin respect of fiat currency, because with cryptocurrency especially bitcoin you can adventure into any investment platforms provided that bitcoin is in existence.

[charlesmichel1]

Only you can decide if you really need Bitcoin. It's neither gambling, not "get rich quick" scheme. It's more like the technology aiming to change the world.

[Furious 7]

Bitcoin should not be compared to gambling.

As stated by a thread in the past, gambling could lose all your money but by investing in cryptocurrencies, you won't be losing that much, and the money you will earn or lose will depend on how much the price change. With a low adoption right now, it is true that it is mainly for investment but there are people that don't just take it as an asset.

The difference that is very far in an instant in the game of gambling funds will lose a lot and for us 70% will lose at gambling especially not a professional at gambling.

Investments in the long term will still benefit, I think if this cryptocurrency will be more widely adopted in the future so that it can be used as a valuable asset such as gold etc. this cryptocurrency works.
And I hate it when people associate it with ponzi schemes.

[darewaller]

Just do what you think is right for you. I do say that Bitcoin is an investment, but it’s not only that, the fact that it has simplified transaction and made peer-to-peer without the need for a middleman makes it worth being called a method of transaction.

You can decide that it is an investment only because of the risk, but Bitcoin has really helped a lot of businesses to be able to hire talents and pay them direct without much stress, and it’s also helping talents to receive payment direct and not worry much about losing a bunch of it to unnecessary fees, etc. This has been the case for me, and I am happy that Bitcoin was created at this time.

[Becky666]

For anyone who need total freedom from the world of the oppressor will totally need the Bitcoin which is decentralized in nature. Bitcoin is needed by all irrespective of the individuals involve, Bitcoin as a currency need understanding and those who understand the technology can either choose to use it for investment purpose of for holding. Also, Bitcoin can be use for online purchases; these made it more convenient for internet users. Personally, i used Bitcoin for two purpose: for investment (including gambling) and for online purchases.

[michellee]

I need bitcoin because bitcoin gives me a way to make money from the internet.

Do you need bitcoin?

That is my question to you. If you think you don't need bitcoin, then you don't have to use bitcoin. But most people here believe that bitcoin is the new opportunity for them to break out the wall, which not many people out there can see. We still work with crypto (bitcoin and altcoin), and we know the risk (uptrend and downtrend), but we try not to complain why bitcoin can be like that.

We only keep trying what we can do.

It's not about the new investor or old investor because I believe that we have the same chance to make money. If you talk about the old investors can make a big profit than the new investors, that is because they are the early adopters of bitcoin, which don't even think that bitcoin can jump to be like now. But the new investors can be like the old investors IF they want to find what methods will work for them.

[AniviaBtc]

But in life, we need to invest, so therefore, bitcoin can make us successful and it can be the answer to our prayers.

You just need to consider its features, its decentralized nature, volatility, and complexity in the market. It is not only for investment purposes, it can also be a payment tool that you can use in a transactions that you are going to perform. Bitcoin is powerful nowadays, it can be in lined with fiat and it can be better with fiat soon.

Although bitcoin do lack a lot of features just like fiat, it has surely a lot of potential to become the world's currency.

[error08]

~
I can see that there is a possibility that it will continue to grow and tha will help exisiting bitcoin holders to earn in it while others that are new could lose in their investment. This is one that bitcoin beimg featured and if you are a common user probably does not like to hold bitcoins or earn in this process. You could feel guilt about it when you think that others are investing it probably they are desperate to earn because they just being always told that bitcoin will going to continue the rise of bitcoin market price. This promise could deceive especially the new one like me.

This is why I would like to know your reply if it is alright to earn profit with bitcoin coming from the new investors of bitcoin? The existing bitcoin holders bought bitcoin cheaper than the new investors that they can get bitcoin at higher price as of the moment.

What do you think?

That might be true, people who treat bitcoin as an investment may just want to make a profit in the end, they buy bitcoin at a cheaper price and hoping to sell it at higher price.
Whoever bought bitcoin in the early adoption will be rich if they are holding it for years, you can call it the privilege for early adopters, we can't argue or excoriate about that, as they believe in bitcoin from the beginning. However, whatever your purpose involved in bitcoin, what matters is the main purpose of bitcoin as peer-to-peer electronic cash system.

[DoublerHunter]

^ Probably you have a false impression with bitcoins and even sense that there's a little part in you that you regret investing in BTC but I am not sure of it. Though your idea of investing in bitcoin is still new however bitcoin world is like a sports league whether you are a new or a pro you still need to compete in order for you to gain. To become a pro in the long run though failures will always be around you always need to fight and play the game until you win in sports they don't look at you as a rookie if you are able to outperform the others including the pros and become profitable on your chosen field. And when you say bitcoin is only an investment then you only chose to become an audience in any sports game just sitting around watching others as they compete and become profitable in this industry.

[kotajikikox]

Do we really need bitcoin?

i don't know in you but for me?yeah i Need Bitcoin badly because this has been part of my life for years now and i am happy
 knowing what Bitcoin is all about.

Thanks for the graph.

This is why I would like to know your reply if it is alright to earn profit with bitcoin coming from the new investors of bitcoin? The existing bitcoin holders bought bitcoin cheaper than the new investors that they can get bitcoin at higher price as of the moment.

What do you think?

It does not have to make very High value before we can make a profit because the advantage of Bitcoin is that it can give you profit while using as a currency.

Imagine that you can use this coin to pay for your transactions and bills while you hold and the volatility may bring you more than enough of you are wishing?

[coolcoinz]

Bitcoin has more uses than simple investment. It is being used for purchases,you can actually charge a debit card or a phone with it and use it for payments, you can order food online or buy electronics, you can of course spend it on mining hardware. Now, is it needed? I'd say the demand on the market shows that it is. Is it only needed as an investment? Again the answer is no, because companies are starting to treat it like backup money, or emergency funds that cannot be seized.

[noorman0]

Do we really need bitcoin?

Yes, I need it. With bitcoin I can work and trade with people all over the world. I never thought in my life that I would experience working overseas without having to go abroad thanks to bitcoin. This shows that bitcoin is not just for investment.

Bitcoin is a form of gamblmg that if you are new you can have high chances to lose money and that benefits others as it comes to them as profits right?

No, bitcoin is not a form of gambling. Bitcoin is a thing, gambling is an activity. Bitcoin is just a more flexible substitute for fiat money. Even though bitcoin was never created, you would still think of objects that have value and fluctuate as a form of gambling.
You may mean that trading is a form of gambling, but I would also say no.

[Distinctin]

People have chosen Bitcoin because they'll find it more beneficial and helpful to the community. Bitcoin is not only for investment but if you can take a look at how it uses to buy stuff, bills payment, have their own banking freedom and control, and many more? That is how it serves to purpose, maybe you don't see it because you might be blinded enough to see the reality.

We are adopting already to digitalization, come to see how we get benefits from Bitcoin. 

[rodskee]

People have chosen Bitcoin because they'll find it more beneficial and helpful to the community. Bitcoin is not only for investment but if you can take a look at how it uses to buy stuff, bills payment, have their own banking freedom and control, and many more? That is how it serves to purpose, maybe you don't see it because you might be blinded enough to see the reality.

We are adopting already to digitalization, come to see how we get benefits from Bitcoin. 

But the sad part is Bitcoin is mostly uses as Investing materials nowadays mate and only few uses this to circulate.
Look how much bitcoin is being use to buy and sell crypto and not to buy product or pay their bills.

Bitcoin has more uses than simple investment. It is being used for purchases,you can actually charge a debit card or a phone with it and use it for payments, you can order food online or buy electronics, you can of course spend it on mining hardware. Now, is it needed? I'd say the demand on the market shows that it is. Is it only needed as an investment? Again the answer is no, because companies are starting to treat it like backup money, or emergency funds that cannot be seized.

depend in which country you locate and what banks offers us.

Mostly it is the government that hinders people from using this.

[Smartprofit]

But in life, we need to invest, so therefore, bitcoin can make us successful and it can be the answer to our prayers.

You just need to consider its features, its decentralized nature, volatility, and complexity in the market. It is not only for investment purposes, it can also be a payment tool that you can use in a transactions that you are going to perform. Bitcoin is powerful nowadays, it can be in lined with fiat and it can be better with fiat soon.

Although bitcoin do lack a lot of features just like fiat, it has surely a lot of potential to become the world's currency.

Bitcoin is needed for the following tasks:

1) Capital preservation.

I have very high inflation in my country.  How can I keep my savings?  Buy dollars or euros?  But creating a CBDC could devalue fiat currencies.  Borders between countries may be closed.  This could be due to a pandemic (Covid-19) or other external (internal) causes.  I will not be able to exchange dollars (euros) for local currency. 

2) Transnational payments.

In a revolution or war, it is very difficult to transfer money abroad.  It's easy with Bitcoin.

3) Transfer of capital by inheritance. 

Bitcoin is easy to inherit.  You just need to transfer the seed (12 English words) to the heir.

[Casdinyard]

People have chosen Bitcoin because they'll find it more beneficial and helpful to the community. Bitcoin is not only for investment but if you can take a look at how it uses to buy stuff, bills payment, have their own banking freedom and control, and many more? That is how it serves to purpose, maybe you don't see it because you might be blinded enough to see the reality.

Using it on daily living is only limited to countries wherein it is euther legal or 'neutral' but to places wherein it is prohibited, things are not the same. It is a digital currency therefore its main purpose is to be used as a mode of payment but since they cannot do something about it, using it as an investment is their only option to benefit from its advantages. If you are referring to decentralization in "having their own banking", the only difference is lack of third party network. OP is not blinded by the reality, it is just that Bitcoin is more often used as an investment which makes it more of such thing than to serve its main purpose - being a digital currency.

[Latviand]

No, bitcoin is not only needed for investment purposes only.

Bitcoin can be used as a tool to engaged in a more digitalized nature or environment.

The thing is that it is only a primarily used for an investment purposes because its price is volatile in the market and can give you a lot of profit.

It is just the same as gold that you can store and hold for a lot of time, the difference is that the price of Gold is increasing slowly, while bitcoin is very volatile in the market.

[Gotumoot]

Bitcoin doesn't just give us profit it gave us freedom from being centralized,
Of course most of the people in this Forum would say yes to your question but remember that not all of us are here for the profit we are here for the future that Bitcoin gave us.
The future of freedom but most of us already forgot it in order for Bitcoin to be on mainstream they would allow centralized wallet to hold their funds.

[kentrolla]

Bitcoin is an absolute gem there are several things you can't ignore it, BTC can't be controlled by anyone except its users well that's the beauty of it.

Well the main purpose is to avoid third party payment and BTC is doing great things to help the community, BTC has came to dominate this new era. You can pay bills, make use of whatever you want and now it has become business as an investment nothing more, it gives you many opportunity to earn money.