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Author Topic: Can you give one reason why I should buy bitcoin?  (Read 1273 times)
Bruce4 (OP)
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May 22, 2023, 07:04:26 AM
Merited by Bounty_Manager (1)
 #1

A friend of mine once told me that I can become very by investing in bitcoin and cryptocurrency.
According to him,he said some crypto analyst and experts have long predicted that bitcoin has the largest transfer of wealth and affluent
The world has ever seen and that most of them that are investing in it will be the ones to be rewarded.
I'm certainly not convinced about this information that he gave to me...I want better ideas and  enlightenment on why I should buy bitcoin.I need help please!
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May 22, 2023, 07:10:41 AM
 #2

You need to convince yourself about an investment and not let others do the thinking for you. Some are into bitcoin for financial freedom without depending on the banking system, some buy it for the potential ROI, some others use it as a retirement plan, the purpose is different for different people.

Understand what bitcoin is and what value it offers, then decide to buy or not.

- Jay -

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Zaguru12
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May 22, 2023, 07:29:40 AM
 #3

I'm certainly not convinced about this information that he gave to me...I want better ideas and  enlightenment on why I should buy bitcoin.I need help please!


The question you need to ask yourself is why do you want to buy bitcoin. For most people the sole purpose of buying and holding bitcoin is to save them self’s from traditional financial restrictions. Bitcoin has many benefits but the most important part ones is it been a store of value because it has limited supply and also hedges against inflation. For someone who is looking to save money without the fear of losing due to devaluation of the traditional financial system then bitcoin also solves that. Also bitcoin is a currency that can be use for payment purposes and this has been proved to be more efficient than traditional currencies or any other digital currencies most especially cross border transactions. Bitcoin also generates you profit while holding it because of it’s volatility which also in turns could cause loses but this can be minimized if you’re looking to hold for a very long period of time.

So the best thing is for you to do your own research and compare the risk and benefit of bitcoin and then relate maybe someone like you could actually get involved.

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May 22, 2023, 07:36:39 AM
Merited by The Sceptical Chymist (3)
 #4

~
I'm certainly not convinced about this information that he gave to me...I want better ideas and  enlightenment on why I should buy bitcoin.I need help please!
Give me a reason why should we convince you at first place? Are you a famous newbie investor?
You need enlightenment? There are many information online that may enlighten you on why you should you buy Bitcoin. We aren't the answers whether you need to buy or not. If you really want to buy Bitcoin, learn it yourself, or find a mentor that might guide you.

As for me, I will not enlighten you or whatever term you want to use. You want to buy Bitcoin? Go find information online that will help you. Go watch videos that will help you. Go read articles that will help you. We don't need to enlighten you nor you need enlightenment from us. It's already good that you have a friend that helped you.

Well, what I said might be a bit harsh, but that's the reality. Smiley Go learn, and good luck I guess.

 
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CryptocurencyKing
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May 22, 2023, 07:42:29 AM
 #5

A friend of mine once told me that I can become very by investing in bitcoin and cryptocurrency.
According to him,he said some crypto analyst and experts have long predicted that bitcoin has the largest transfer of wealth and affluent
The world has ever seen and that most of them that are investing in it will be the ones to be rewarded.
I'm certainly not convinced about this information that he gave to me...I want better ideas and  enlightenment on why I should buy bitcoin.I need help please!

I would say you should invest in bitcoin because you beleive in it and not because someone told you to. For the sake of emphasises, I would repeat, Bitcoin and not altcoin.
In recent times, altcoins has proven to be more risky than you would have imagined with most of them dumping to never rise again and an inexperience person could easily find themselves in a deep shit.

Maybe this is some means to go about your research but, I would say you should make conscious effort to understanding all that it entails before investing.

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May 22, 2023, 07:44:57 AM
 #6

A friend of mine once told me that I can become very by investing in bitcoin and cryptocurrency.
According to him,he said some crypto analyst and experts have long predicted that bitcoin has the largest transfer of wealth and affluent
The world has ever seen and that most of them that are investing in it will be the ones to be rewarded.
I'm certainly not convinced about this information that he gave to me...I want better ideas and  enlightenment on why I should buy bitcoin.I need help please!

What your friend told you about bitcoin is true, but it has not been enough to convince you because you are not fascinated by the idea of getting wealthy. Maybe your position in life is already a comfortable one so someone telling you about how Bitcoin can improve your living standard will not be enticing to you. There are many other benefits of bitcoins, and you just have to research and read on them yourself so maybe one of the benefits becomes catchy to you. People are buying bitcoins because of many benefits not just the benefit from investing, find a benefit of Bitcoin that is beneficial to you.

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worle1bm
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May 22, 2023, 08:00:23 AM
 #7

If you are not ready to invest yourself then why should anyone bother to convince you? We are not going to get any benefit but you will get if you make this decision so make your own decision.People need to first understand the usage as well as importance of Bitcoin which will trigger them to invest and understand why it will be profitable not based on anyone's else influence or reasoning.

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May 22, 2023, 08:03:35 AM
 #8

Why tell us to convince you? It's not our responsibility to convince you lol. Instead, probably do your research instead?


* If you like reading articles: https://coindesk.com/learn
* If you like reading books: https://theinternetofmoney.info/
* If you like watching videos: https://www.youtube.com/playlist?list=PLPQwGV1aLnTuN6kdNWlElfr2tzigB9Nnj

Security related:
* https://chainsec.io
* https://www.lopp.net/bitcoin-information/security.html

If you want to get more technical
* https://github.com/bitcoinbook/bitcoinbook#chapters
* https://github.com/ethereumbook/ethereumbook#chapters

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May 22, 2023, 08:17:18 AM
 #9

A friend of mine once told me that I can become very by investing in bitcoin and cryptocurrency.
According to him,he said some crypto analyst and experts have long predicted that bitcoin has the largest transfer of wealth and affluent
The world has ever seen and that most of them that are investing in it will be the ones to be rewarded.
I'm certainly not convinced about this information that he gave to me...I want better ideas and  enlightenment on why I should buy bitcoin.I need help please!

Don't invest in Bitcoin because of what crypto analyst or experts are saying online, there's no guarantee of whatever they said happening. These experts has been wrong so many times that if you follow their advise, you would end up disappointed. They predicted Bitcoin to trade at $100k last two years but it didn't happen. These guys will say everything positive to convince you to buy their courses or subscribe to their channel.

Why you should invest in Bitcoin is because of the privilege that comes from using Bitcoin. Bitcoin is decentralized so when you use it your transaction are anonymous and if you invest, you have a highly percentage of getting a good return when the bull market starts.

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May 22, 2023, 08:20:23 AM
 #10

A friend of mine once told me that I can become very by investing in bitcoin and cryptocurrency.
According to him,he said some crypto analyst and experts have long predicted that bitcoin has the largest transfer of wealth and affluent
The world has ever seen and that most of them that are investing in it will be the ones to be rewarded.
I'm certainly not convinced about this information that he gave to me...I want better ideas and  enlightenment on why I should buy bitcoin.I need help please!


So you mean that your friend told you become very rich by investing in bitcoin? I am sorry to tell you but the times where you can become very rich in a short period of time with bitcoin is over. Everybody in the world has heard of bitcoin by now, it's not a secret anymore. The times where you could mine a lot of coins or buy them cheaply is also over. Which doesn't mean that bitcoin isn't a bad investment, compared to other asset classes bitcoin offers a lot of advantage and should be part of any portfolio these days. It's important to have realistic expectations about the returns of bitcoin. If you are fine with making solid returns over longer period of time then you should definitely buy bitcoin, but if you are looking for a way to get rich overnight than you should be looking at the alt coin market and take more risky coins.
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May 22, 2023, 08:29:54 AM
 #11

A friend of mine once told me that I can become very by investing in bitcoin and cryptocurrency.
According to him,he said some crypto analyst and experts have long predicted that bitcoin has the largest transfer of wealth and affluent
The world has ever seen and that most of them that are investing in it will be the ones to be rewarded.
I'm certainly not convinced about this information that he gave to me...I want better ideas and  enlightenment on why I should buy bitcoin.I need help please!

Someone have already convinced you to invest in bitcoin but you are not convinced yet, what do you want us to tell you in the forum here that will convince you? Since someone have already introduced you to forum and you don’t feel convinced, then you have to seat yourself down and convince yourself, nobody is going to spoon feed you here, if you are not convinced yet, then you might not just invest, maybe you will be among people that will be regretting later in the future why they didn’t invest in bitcoin when someone introduced them to bitcoin.

Take your mobile device visit google and read more about bitcoin or visit YouTube and watch some videos about bitcoin and cryptocurrency generally maybe that will convince you to invest, and if you are not still convinced then you can just leave bitcoin. Now the market is down, when you experience a bull run now, you will be convinced, but you might not get bitcoin at this cheap rate anymore.

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Litzki1990
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May 22, 2023, 08:33:28 AM
 #12

Let me give you a small example of why you should buy Bitcoin. 13 years ago today, a man bought two pizzas with 10,000 bitcoins. You just see where the value of Bitcoin has gone over the course of 13 years. I think if you understand what I'm saying then you should have no hesitation in investing in Bitcoin. I lost a bit by investing in Bitcoin and immediately sold my investments you will never get success from Bitcoin by doing so.  

Invest a certain amount of money and leave it for a long time. Hopefully, Bitcoin investment will not disappoint you when you login to your wallet after a long time.

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S A KHAIR
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May 22, 2023, 08:58:08 AM
 #13

If you are such a meticulous person, you don't trust your friends, will you trust us? Why don't you find out for yourself because the information is full on the internet. Bitcoin investment is for your benefit, we don't profit when you invest, why should we convince you? If you want to invest, I believe you will find out everything yourself, no one has enough time to convince you to invest without getting benefits.

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May 22, 2023, 09:08:48 AM
 #14

A friend of mine once told me that I can become very by investing in bitcoin and cryptocurrency.
According to him,he said some crypto analyst and experts have long predicted that bitcoin has the largest transfer of wealth and affluent
The world has ever seen and that most of them that are investing in it will be the ones to be rewarded.
I'm certainly not convinced about this information that he gave to me...I want better ideas and  enlightenment on why I should buy bitcoin.I need help please!

Your mindset is wrong, it is up to you to decide if you want to invest in bitcoin or not, so if you are not convinced then do not invest in bitcoin, it is that simple, now if you take the time to research more about bitcoin and this market and you are finally convinced about it then you can invest in this market if you want, however this is a decision you need to take on your own and no one should force you as the possibility of losing money is very real, and in the case of someone that is nowhere near as convinced as they should be I would say it is even likely it could happen.
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May 22, 2023, 09:14:10 AM
 #15

A reason for buying depends on what you want. We can say every reason we think you should have BTC, but ultimately, it's only up to you to determine why you purchase it in the first place. You should be able to decide on your own. For sure the reasons above me are enough somehow to influence you in some way.

I hope that you are able to form your self-actualization on why you should have.

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Victorik
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May 22, 2023, 09:27:05 AM
 #16

A friend of mine once told me that I can become very by investing in bitcoin and cryptocurrency.
According to him,he said some crypto analyst and experts have long predicted that bitcoin has the largest transfer of wealth and affluent
The world has ever seen and that most of them that are investing in it will be the ones to be rewarded.
I'm certainly not convinced about this information that he gave to me...I want better ideas and  enlightenment on why I should buy bitcoin.I need help please!


I honestly do not think you need any more reasons to invest in BTC. From the look of things, you're pretty much convince that it may not work out for you when you invest in it.
What I would advise is that, you first do your own research about BTC and then convince yourself, because no one can convince you when you haven't convinced yourself

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May 22, 2023, 09:28:41 AM
 #17

I don't think being convinced by others is what you want, in the first place I think you already have some level of interest since you're asking others to persuade you so I reckon you need to convince yourself instead and probably realize that you're already getting swayed.

I'd recommend reading up on what Bitcoin is via the whitepaper though if you want some materials, gives you it's core for what it actually is without personal bias. After that you can probably read up on articles to remove confusions if you have any (or even better, ask around)

 
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May 22, 2023, 10:13:55 AM
 #18

Have you ever asked someone to tell you the reason why you should take breakfast, lunch or dinner?
If no, then you don't actually needs someone to tell you to buy bitcoin, it's the value and importance of it that makes people investing in digital currency more especially as the act of alternative means of payment and, also beyond that, people sees it as something worth investing one's resources. If there are more things to know then I urge you to develop your time to read lots of interesting things about bitcoin across forum then I believe that you could convinced your self the more to pick up courage to start your investment journey.

Before buying any bitcoin it should be that you have accepted all the facts that follows and governs the investment principles otherwise even though you were convinced to invest you might still regret putting your resources, so try as much as possible to convince yourself and bear the risk.

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May 22, 2023, 10:20:03 AM
 #19

I don't give you a reason why you should buy but what I can give you is the reason why you should know about Bitcoin and this digital currency because, in this way, it leads you to have interest and might give you the courage to buy.
 
 - Bitcoin is another form of currency but can also be a good investment that would possibly give you a good profit.

I encourage you to learn more about Bitcoin, in order for you to understand it well before making a decision to invest. Indeed, it is necessary so you can find a reason why you should invest or not.


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May 22, 2023, 10:21:35 AM
 #20

According to him,he said some crypto analyst and experts have long predicted that bitcoin has the largest transfer of wealth and affluent
Transfer of wealth, yeah, you should understand it that wealth will be transferred from the poor to the rich, from losers to winners in a same market. You can become a winner or a loser, no guarantee.

Quote
I'm certainly not convinced about this information that he gave to me...I want better ideas and  enlightenment on why I should buy bitcoin.I need help please!
I hope this chart can give you enough reason if you compare it to a chart of any fiat currency.

I am not here to convince you to buy Bitcoin. My post is not financial advice and just free information for you.

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