Reasons to Invest in Bitcoin??

[Fortify]

First I want to say that I have some Bitcoin and I want to see it go to the moon. But I have some questions regarding the reasons that people give as to why Bitcoin is a good investment.  

Reason 1: You are in control of your own money - government overprint cash which devalues the dollar, but big influential people and institutions can devalue Bitcoin with a single tweet. Bad news, issues with mining, and other things out of your control can devalue Bitcoin.

Reason 2: Nobody can take away your bitcoin whereas the bank can confiscate your cash and lock your account - should I worry about my bank doing this if I am not doing anything that is illegal?

Reason 3: You can send it to anyone in the world - why would people want Bitcoin when you cannot use it to purchase in many stores? Plus ii takes too long for 1 transaction to go through.


Please correct me if I am misinformed.  

Honestly, Bitcoin is probably one of the last additions that anyone should be making to their diversified portfolio of assets. Firstly you should be trying to save up cash in a low risk manner, use that to buy a property that you can live in, then start to put some money into a low cost global stock market fund, once you have gotten to that point it might be sensible to look at other investments like precious metals or cryptocurrencies. While Bitcoin is the first mover and most well known, that popularity might be a bit of a curse in the long run as it's functionality as a currency is being undermined. Maybe look at a wide range of other cryptocurrency and spread it between 2 or 3 different ones for maximum uplift.

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[Rruchi man]

Reason 1: You are in control of your own money - government overprint cash which devalues the dollar, but big influential people and institutions can devalue Bitcoin with a single tweet. Bad news, issues with mining, and other things out of your control can devalue Bitcoin.

As much as the price of bitcoin can drop in with a single with it has also soared as well several times in the past. For instance, the price of Bitcoin skyrocketed from around $32,000 to nearly $38,000 in January 29, 2021 because of a tweet from Mr Musk. This is just one of those few examples.

My two reasons for investing in bitcoin is that I believe that someday it’s going to be a widely accepted legal tender and then price will get to the moon. In addition, I don’t want to live with the regret of not buy any bitcoin before it becomes mainstream.

[hazenyc]

Reason 1: You are in control of your own money - government overprint cash which devalues the dollar, but big influential people and institutions can devalue Bitcoin with a single tweet. Bad news, issues with mining, and other things out of your control can devalue Bitcoin.

As much as the price of bitcoin can drop in with a single with it has also soared as well several times in the past. For instance, the price of Bitcoin skyrocketed from around $32,000 to nearly $38,000 in January 29, 2021 because of a tweet from Mr Musk. This is just one of those few examples.

My two reasons for investing in bitcoin is that I believe that someday it’s going to be a widely accepted legal tender and then price will get to the moon. In addition, I don’t want to live with the regret of not buy any bitcoin before it becomes mainstream.

I like the last point you mentioned, the regret issue! Really, even if there is sometimes a bit of doubt that all pans out and Bitcoin could be replaced by another new technology, that is just how technology works, I would still be mad at me if I didn't try. I believe in Bitcoin and letting doubts take control over your own belief and passion is very regrettably. If it turns out I was wrong, fine, it was worth the ride!

I strongly believe that we are still in the early ages of Bitcoin and we all made the right decision to get involved as early as we possibly could.