Bitcoin is not needed but only for investment purposes

[romero121]

Maybe the value grows as a result of limited supply to the increased demand. It hasn't got the real-time usage as people expect, but the usage of bitcoin exists. Everything grows from the scratch, and if this hasn't got any need it could've gone out of usage at the very beginning. The need for the elimination of third party involvement is possible through bitcoin. Only the continued usage can cause anything to be used long term. This is where people used it, and more people are starting to use it knowing the good. Slowly stores have begun to accept bitcoin, and this is increasing around the globe.

How will you define a stock, if you examine you'll get to know every stock backed by the company shares. When we talk of bitcoin it has the technology backing, and the usage that counting regularly will make it more worth every day.

[Rexler]

Do we really need bitcoin?

Well, I can't speak for others cause everyone has their reason why they need bitcoin, some need it for gambling while some see it use it for investments, but personally I do need bitcoin for earning online and also making transfers all over the global without stepping outside of my house, bitcoin just makes life much easier for me, honestly I don't have a bank account right now, but I'm still able to pay for good and service without a bank account , so yeah I do need bitcoin.

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.

For new investors I think most times they make the mistake of buying at the top that's why they always lose their money at the first start, the existing holders are smart investors because they bought bitcoin at a cheaper price,probably it dipped to $5k usd as at March, those who bought the dip, bitcoin has triple their profit, it might hit the ATH this year, although no one knows, but I have a feeling it might, there's still much hype around bitcoin now.

[ChrisPop]

Romero said it right. Bitcoin is used for various transactions, but in the present it is viewed as an investment opportunity more than a way to make payments. The majority of people are driven by greed, whereever there is a pile of gold they will go and try to seize it.

I want to emphasize that this perception is NOT BAD for the development of Bitcoin as a currency. It is a necessary step in the evolution. After all, it is great that people see it as a scarce resource and try to stack as many sats as possible.😉

[Meysa_richa]

I don't know what will happen in the future, but in my personal opinion Bitcoin is currently more than 50% only used for investment or trading. Even though Bitcoin actually has the purpose of being the corpse of digital money, I don't think its use is yet optimal.

[panganib999]

I don't know what will happen in the future, but in my personal opinion Bitcoin is currently more than 50% only used for investment or trading. Even though Bitcoin actually has the purpose of being the corpse of digital money, I don't think its use is yet optimal.

That's because of limitation regarding its usage as an investment. Also to which it is more beneficial for the users. Bitcoin provides convenience to the users when it comes on transactions but it is also a profitable investment. Given the aspect of profit, it is not surprising to know that more users are into investments than casual users of such digital currency. And the possible reason regarding this concern is that people are having second thoughts of spending their bitcoin on daily basis since it has a tendency to generate profit as its market value is increasing. But to whether being a currency or an investment, it does depend on the user itself on how will such technology be used.

[goldade]

Do we really need bitcoin?

Most of the members here will say yes but bitcoin is not needed unless you want to earn or lose your money. 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?

If I am mistaken the growth of bitcoin market is because people are buying it even at the current price which is 13k$. See picture below,




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?

As much as bitcoin can also be used as a form of investment to make money, I believe it was not originally created for that. I'm sure that's not the purpose Satoshi had in mind when he created bitcoin.
Satoshi created bitcoin as a currency (meant to be spent) that is out of the control of the banks and government. He created it so that the masses can have control over their own money.
Although the acceptance of bitcoin as a means of payment is currently not widespread in the mainstream world, we now have merchants and companies that accept bitcoin which means it can be spent. I believe it is only a matter of time before bitcoin gets wholly adopted in the mainstream world and it's used for payment of goods and services

[ampu]

I think Bitcoin is used according to the needs of our users and that we can use Bitcoin as a convenient global means of payment, transfer money and accumulate them. Whatever the purpose, demand for Bitcoin is getting higher right now. Many people want to own Bitcoin and that is the motivation to increase value for Bitcoin.

[taufik0911]

in my opinion what is needed is not bitcoin but a system of blockchains that can break the costly centralization of financial losses and can be manipulated easily and arbitrarily printed
in blockchains all transactions are open and anyone can find out the amount of supply easily in contrast to financial centralization, which we ourselves may not even know how much money is circulating in our country

[Inkdatar]

I think Bitcoin is used according to the needs of our users and that we can use Bitcoin as a convenient global means of payment, transfer money and accumulate them. Whatever the purpose, demand for Bitcoin is getting higher right now. Many people want to own Bitcoin and that is the motivation to increase value for Bitcoin.

This is true it depends on a person the needs of bitcoin since others will just invest and wait for the price to grow  in the market. As we can observe others are having a regret not knowing early about Bitcoin. A lot of users are adopting it because of its benefits that can get. So it is not only for investment purposes the use of bitcoin we can also easily exchange it for fiat. I can see in the future a lot of improvement will happen in bitcoin.

[Yamust]

If Bitcoin is for investment purposes therefore Bitcoin is needed. For whatever Bitcoin is to be used like in savings, mode of payment, trading or investment Bitcoin is needed. And ofcourse why many people are holding bitcoin is to earn profit from it, so bitcoin is needed especialy by many investors. And I think if you know the timing of when to invest and when to sell it you will not lose from it.

[celot]

Just people or investor mind when seeing bitcoin dump but after bitcoin reaching to higher price their mind have change and take care with bitcoin as good investment choose for the future. Usually happen when every one have lost much money from bitcoin investment because buy bitcoin during have higher price and back down, later will make issues bitcoin is scam and working like gambling. I think you wrong decision when buy bitcoin during have good price why not waiting more when bitcoin down to invest. Not all investor know what is the best time for entry to buy bitcoin and sell it, just take care when bitcoin have higher price is time to buy and panic moment when bitcoin down, exactly is correction for bitcoin before back to higher price, after wrong moment when to buy bitcoin they make bad statement with say bitcoin is scam or have gambling site working.

[NeilLostBitCoin]

If Bitcoin is for investment purposes therefore Bitcoin is needed. For whatever Bitcoin is to be used like in savings, mode of payment, trading or investment Bitcoin is needed. And ofcourse why many people are holding bitcoin is to earn profit from it, so bitcoin is needed especialy by many investors. And I think if you know the timing of when to invest and when to sell it you will not lose from it.

Yes perfect timing is really in need for us not to lose so much nor missed the pump period and end to sell it lower than the amount that we bought it, so I suggest that we should wait for the perfect time maybe not now since the bitcoin price is high, wait for some dump then buy it. since we consider bitcoin as investment, then wait for the good time

[TedMosby]

We do really need bitcoin if we use it as a currency instead of an asset.
IMO, bitcoin is a medium to transact your money.
You shouldn’t expect bitcoin will works for you, to give you more money, when the price is up.
It should be a peer to peer electronic cash system like you read it on the title of bitcoin whitepaper.
For me, bitcoin doesn’t have underlaying values, except the trust aspect and the community itself.

[senya-com]

A thing needed for just investment purposes for sure goes financial pyramid one day. Main ideas of the crypocurrencies are user-friendly safe transactions, actually definitely not investment at all. If it turns to investment tool only, it will lose any of its advantages.

[oktana]

Call it what you call it, but bitcoin is a currency which most people think of as a money making scheme. Bitcoin is needed and "NOT" for investment purposes, but as a digital currency which it really is.

[BuNga_cute]

For me Bitcoin is very necessary, because its value is higher than the fiat currency in my country. Therefore I prefer to keep my wealth
in Bitcoin than in a bank. Another thing that makes me need Bitcoin can be used as a source of income, if we have good analytical skills,
can get profit from trading Bitcoin. For countries that legalize Bitcoin as payment, can use Bitcoin to buy the things we want, so for some
countries Bitcoin is not only a digital asset for investment purposes only.

[Quidat]

For me Bitcoin is very necessary, because its value is higher than the fiat currency in my country. Therefore I prefer to keep my wealth
in Bitcoin than in a bank. Another thing that makes me need Bitcoin can be used as a source of income, if we have good analytical skills,
can get profit from trading Bitcoin. For countries that legalize Bitcoin as payment, can use Bitcoin to buy the things we want, so for some
countries Bitcoin is not only a digital asset for investment purposes only.

Its too risky for someone to put their life savings in Bitcoin.Yes, its your own decision but we know that this isnt a guaranteed thing that would last forever
unlike on using up those traditional banks in terms of security and insurances.Nothing beats out on banks when it comes to that but people do love that
decentralized way thats why bitcoin is created.This is just an option to take yet we can engage with it without the need of leaving our traditional investment
or live savings in banks. Never ever consider this step because you wouldnt know on what would happen in future.Its better to be secure and
dont go all in.

[fishbonez11]

Call it what you call it, but bitcoin is a currency which most people think of as a money making scheme. Bitcoin is needed and "NOT" for investment purposes, but as a digital currency which it really is.

Bitcoin now is more like an asset, people used to accumulate more of it than spending it. Knowing how the price have gone so far, you can call bitcoin an investment since it gives you profit since the first time you have it. I believe that Bitcoin should not be viewed as an investment because there are more special use for this new kind of currency. People still doesn't realize it and still doesn't use its full potential, but few years from now, it will serve its real purpose.

[oktana]

Call it what you call it, but bitcoin is a currency which most people think of as a money making scheme. Bitcoin is needed and "NOT" for investment purposes, but as a digital currency which it really is.

The reason why people think of it as an investment opportunity is they really thought of bitcoin to increase its price, even more, higher than today and that's not impossible because 1 year before today, no one has speculated we gonna experience such a rich price that we experience today. We need to know that everything seems possible when it comes to bitcoin's price and that's is all about it. both digital payment and investment opportunity is possible whether you like it or not.

No one is arguing that bitcoin cannot be seen as an investment. It can be seen as an investment. But at the same time, youust remember that bitcoin's primary goal is to be a currency. It's just like mobile phones were created for communication. And now, people are using it for other things. However, the main aim of the phone was to keep you connected to others. Same case for bitcoin.

[nemey]

I agree, bitcoin is not an item, just a medium for investment. because bitcoin is intangible. we can only sell and buy online and make a profit from there. So we don't really need this bitcoin for life, only we need it to earn.