Benefit of bitcoin

[Inwestour]

Honestly, I invest in bitcoin because of its high volatility, if it is less volatile and stable as gold, then I would rather invest in gold than take a big risk investing in bitcoin without big profit. Indeed, bitcoin's volatility has never been a downside. That is its biggest advantage, and most people are interested in ever. Would people still care much about it if bitcoin were a decentralized, anonymous, and private currency without volatility? Even I am doubting myself about that.

If bitcoin becomes much more stable, then you will reinvest all your funds in gold, even taking into account the fact that there is a lot of gold to be mined and only 21 million bitcoins?

Your gold will need to be stored in some kind of bank vault, the bank will know everything about you and in fact your gold will not be with you, but under the control of the bank. You will pay for storage and of course you will pay taxes. Do not forget that there have already been cases in history when the government seized all the gold from the population. Although bitcoin will become less volatile, it will always rise in price, since its number will never exceed 21 million, and with the adoption, there will be more and more people who want to own bitcoin.

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[ItsCrafty]

basically bitcoin is currently more widely used to get money, where by investing it will get multiple results. however, to achieve this we must have knowledge about bitcoin, because if it is wrong, we can lose money, this is experienced by many people with various stories, most of them are due to a lack of knowledge about investing in bitcoin.

Bitcoin offers financial, technological, economic, social, and environmental benefits through its decentralized system, lower transaction costs, and protection against inflation. Challenges include volatility, legal and regulatory issues, and environmental impact. Bitcoin operates on a decentralized network called block chain which provides individuals with more control over their finances, especially during their trading on digital sites when trust in traditional financial institutions may be low. Bitcoin transactions are more secure and resistant to frauds or hacking. Although it has to be admitted that anything can happen at any time in the internet world. But all those institutions and exchanges that are doing business have many security systems and measures within them to make the system stronger and better. I think you can easily trade and earn money on this platform.

[xSkylarx]

The only thing that people might consider a disadvantage of Bitcoin is its volatility which is basically there in all cryptocurrencies and it's because their prices go up and down based on demand and supply and because of the flow of the money invested.

Some people consider this not to be a disadvantage, as it is precisely this volatility that allows certain individuals to profit from these price fluctuations. Who else but traders? Yes, they leverage the nature of Bitcoin, where its value is unstable based on supply and demand.

If it comes to transactions, perhaps this may not be the optimal choice. However, for investment or daily trading purposes, Bitcoin can yield profits for skilled traders.

That's true, though it's the nature of Bitcoin and cryptocurrencies to be volatile, it actually provides benefits to the traders or holders since when the price goes down, they buy with whatever they have, and then when it goes up again, they sell and take profit. So this basically is an advantage of Bitcoin and other cryptocurrencies since if they were not volatile, maybe this many people wouldn't be interested in them.

Humans tend to like things that earn them money because money is what everyone is running behind these days, you can't do anything without it so you have to find ways to get as much as possible to have a life free of worries and tensions and if you don't have any, you can't live in peace.

Honestly, I invest in bitcoin because of its high volatility, if it is less volatile and stable as gold, then I would rather invest in gold than take a big risk investing in bitcoin without big profit. Indeed, bitcoin's volatility has never been a downside. That is its biggest advantage, and most people are interested in ever. Would people still care much about it if bitcoin were a decentralized, anonymous, and private currency without volatility? Even I am doubting myself about that.

There are still a couple of people interested in it, but again, because of its price and volatility, people got into it because of profit, and for sure, most of us really believe that is the reason, and only a few really used it as a payment method. People really want to get involved with risk, especially if the chances of profit are huge and they can get rich on it or gain profit immediately. Even for myself, I will be buying gold instead of bitcoin or having my money put in the bank for interest.

[maydna]

Honestly, I invest in bitcoin because of its high volatility, if it is less volatile and stable as gold, then I would rather invest in gold than take a big risk investing in bitcoin without big profit. Indeed, bitcoin's volatility has never been a downside. That is its biggest advantage, and most people are interested in ever. Would people still care much about it if bitcoin were a decentralized, anonymous, and private currency without volatility? Even I am doubting myself about that.

Many people invest in bitcoin because there is an opportunity to get big profits, and many people have proved that. And that also happened to me, who has been investing in bitcoin for a long time because only by having lots of bitcoins will big profits come, even though we also invest in altcoins which can provide additional benefits. And the benefit of bitcoin is that we can have new investments that we can buy with little money. In contrast to gold which must follow the size of gold to be purchased and we must have more money to buy gold with the smallest size. From that point of view, investing in bitcoin will be more profitable because we can do it with small money and do DCA.

[loopes]

Honestly, I invest in bitcoin because of its high volatility, if it is less volatile and stable as gold, then I would rather invest in gold than take a big risk investing in bitcoin without big profit. Indeed, bitcoin's volatility has never been a downside. That is its biggest advantage, and most people are interested in ever. Would people still care much about it if bitcoin were a decentralized, anonymous, and private currency without volatility? Even I am doubting myself about that.

Many people invest in bitcoin because there is an opportunity to get big profits, and many people have proved that. And that also happened to me, who has been investing in bitcoin for a long time because only by having lots of bitcoins will big profits come, even though we also invest in altcoins which can provide additional benefits. And the benefit of bitcoin is that we can have new investments that we can buy with little money. In contrast to gold which must follow the size of gold to be purchased and we must have more money to buy gold with the smallest size. From that point of view, investing in bitcoin will be more profitable because we can do it with small money and do DCA.

Both of you are right, people invest in bitcoin because they think some profit will be earned. They believe in some reason to gain profit with bitcoin, like its volatility will be utilized gain profit by Trading and Holding. Then, Its decentralization system and blockchain technology become an inspiration to develop exciting technology, and many other things .

[coinerer]

Many people invest in bitcoin because there is an opportunity to get big profits, and many people have proved that. And that also happened to me, who has been investing in bitcoin for a long time because only by having lots of bitcoins will big profits come, even though we also invest in altcoins which can provide additional benefits. And the benefit of bitcoin is that we can have new investments that we can buy with little money. In contrast to gold which must follow the size of gold to be purchased and we must have more money to buy gold with the smallest size. From that point of view, investing in bitcoin will be more profitable because we can do it with small money and do DCA.

Well said mate. Actually I have been seen a lots of people in my life who comes to Bitcoin i.e. Cryptocurrencies investment only for using it a quick rich scheme tools. But most of them who had such thoughts have dropped out from this sector  except some people who later realized their mistake and picked themselves up. First of all we need to change our perception about Bitcoin, Bitcoin is not a get rich quick scheme tools.  It is a virtual asset that increases our financial freedom.
And to talk about investment, it is not wise to invest more funds at once in any investment, altcoin says, and bitcoin says that if you want to gain profit in all of them, you have to always maintain a proper DCA management. And always take away greedyness from mind .

[JayTrain]

Your observations about Bitcoin highlight both its benefits and disadvantages. It's important to approach Bitcoin and any investment with a balanced perspective. While Bitcoin can provide financial relief and opportunities for investment, it also carries risks, especially when proper understanding and guidance are lacking. Bitcoin's decentralized nature gives individuals financial freedom without reliance on a central authority. However, it's crucial to consider factors like timing and the amount invested for maximizing benefits. Newcomers should be aware that Bitcoin investment offers advantages outweighing the disadvantages, but it requires serious commitment and careful planning.

[Yatsan]

Your observations about Bitcoin highlight both its benefits and disadvantages. It's important to approach Bitcoin and any investment with a balanced perspective. While Bitcoin can provide financial relief and opportunities for investment, it also carries risks, especially when proper understanding and guidance are lacking. Bitcoin's decentralized nature gives individuals financial freedom without reliance on a central authority. However, it's crucial to consider factors like timing and the amount invested for maximizing benefits. Newcomers should be aware that Bitcoin investment offers advantages outweighing the disadvantages, but it requires serious commitment and careful planning.

Problem with new ones is them being biased. They often see this industry as an easy way to get rich in an instant. Indeed there are individual who managed to do so but there are many factors to prove that we won't have the same fate; difference with capital, risk management, decision making, and loss tolerance. These things would make results differ from one investor to another. Some would just be eyeing to profit but are not willing to lose an amount and this is where frustration may take place yielding to huge loss. Bitcoin has its own benefit especially as an asset but everything has its cons so never be too confident of this technology.

[South Park]

Many people invest in bitcoin because there is an opportunity to get big profits, and many people have proved that. And that also happened to me, who has been investing in bitcoin for a long time because only by having lots of bitcoins will big profits come, even though we also invest in altcoins which can provide additional benefits. And the benefit of bitcoin is that we can have new investments that we can buy with little money. In contrast to gold which must follow the size of gold to be purchased and we must have more money to buy gold with the smallest size. From that point of view, investing in bitcoin will be more profitable because we can do it with small money and do DCA.

Well said mate. Actually I have been seen a lots of people in my life who comes to Bitcoin i.e. Cryptocurrencies investment only for using it a quick rich scheme tools. But most of them who had such thoughts have dropped out from this sector  except some people who later realized their mistake and picked themselves up. First of all we need to change our perception about Bitcoin, Bitcoin is not a get rich quick scheme tools.  It is a virtual asset that increases our financial freedom.
And to talk about investment, it is not wise to invest more funds at once in any investment, altcoin says, and bitcoin says that if you want to gain profit in all of them, you have to always maintain a proper DCA management. And always take away greedyness from mind .

This is an image that it will take some time to dissipate as even exchanges are guilty of doing something like this in order to attract more clients, they sell the idea that bitcoin can be used as a way to earn profits in a short amount of time and newbies believe it because they do not know any better, however the smart ones soon realize there is something wrong and begin to make their own research about it, and soon discover they were lied to and they realize they need to adjust their behavior or soon they will lose their money to the whales.

[ChiBitCTy]

I think other writers has outlet the benefits of bitcoin and none benefits of bitcoin before, I don't need to praise bitcoin much because its just a technology and anything can interrupts the chances of it prolonging values.
1) From what I have observed  in bitcoin its a financial relief when you know the secrets behind the uses of bitcoin and some of the investment.
2) bitcoin have some of disadvantages which we are not supposed have all our hope in bitcoin, sometimes the mistakes of people lossiing in bitcoin investment is as a result of improper explanation and orientation when coming to invest in bitcoin.
3) bitcoin is like a life bencher for lawyers, why in financial aspects bitcoin is a freedom it doesn't have who control it.
4) having much benefit in bitcoin is when you know the good time to invest in bitcoin, like sometimes profit in Bitcoin investment is determination by the amount used for invest.
5) I want new people to know that the advantages of bitcoin investment is higher than the disadvantages if you take your investment plans serious.

Why does anything of what you state have to be about bitcoin in relation to “profits”?

I think the main issue people face when it comes to their understanding, or lack thereof, of bitcoin, is first understanding it’s NOT an investment in and of itself. It’s a digits currency which solved double spending and is used as an investment vehicle just as all types of currency have been.

Why is it always about profits, and not the actual technology behind bitcoin ??

[fuguebtc]

The only thing that people might consider a disadvantage of Bitcoin is its volatility which is basically there in all cryptocurrencies and it's because their prices go up and down based on demand and supply and because of the flow of the money invested.

Some people consider this not to be a disadvantage, as it is precisely this volatility that allows certain individuals to profit from these price fluctuations. Who else but traders? Yes, they leverage the nature of Bitcoin, where its value is unstable based on supply and demand.

If it comes to transactions, perhaps this may not be the optimal choice. However, for investment or daily trading purposes, Bitcoin can yield profits for skilled traders.

That's true, though it's the nature of Bitcoin and cryptocurrencies to be volatile, it actually provides benefits to the traders or holders since when the price goes down, they buy with whatever they have, and then when it goes up again, they sell and take profit. So this basically is an advantage of Bitcoin and other cryptocurrencies since if they were not volatile, maybe this many people wouldn't be interested in them.

Humans tend to like things that earn them money because money is what everyone is running behind these days, you can't do anything without it so you have to find ways to get as much as possible to have a life free of worries and tensions and if you don't have any, you can't live in peace.

Honestly, I invest in bitcoin because of its high volatility, if it is less volatile and stable as gold, then I would rather invest in gold than take a big risk investing in bitcoin without big profit. Indeed, bitcoin's volatility has never been a downside. That is its biggest advantage, and most people are interested in ever. Would people still care much about it if bitcoin were a decentralized, anonymous, and private currency without volatility? Even I am doubting myself about that.

There are still a couple of people interested in it, but again, because of its price and volatility, people got into it because of profit, and for sure, most of us really believe that is the reason, and only a few really used it as a payment method. People really want to get involved with risk, especially if the chances of profit are huge and they can get rich on it or gain profit immediately. Even for myself, I will be buying gold instead of bitcoin or having my money put in the bank for interest.

Indeed, people always talk about the technology of bitcoin, but what they care about most is its volatility and profitability. I don't believe someone is here to invest in bitcoin and say they love it just for the technology and not for the profit. If it is stable, people will still have demand and use it, but it will be significantly reduced and no longer receive the attention it is today.

I myself will be looking for a new investment channel and will only use bitcoin if necessary, and my interest in it will certainly not be great as I will focus on new investment. And I believe everyone will be like me, but there will be many people who don't want to accept that.

[bitterguy28]

Bitcoin is an unstoppable technology that has a long term life span that counts across generations and time, this is not the like of technology that could a possible interruption of its development, but between we must have a balanced ground that will lead us to any possible future goals and aspirations that caught across that time.

Are you sure that bitcoin is unstoppable, are sure if bitcoin technology can continue to pass from one generation to another generation, bitcoin is a technology and I can see that technology of bitcoin can be double chances by another technology that deals with finance and appropriately looks like bitcoin, if such technology come to exist, it will take over bitcoin and people will like to test such technology

If that is what you believe in ? then maybe it is time for you to leave this market because you have already lose your belief and trust .
if this is stoppable then why still lean here?
better to run into another investments.

[Minecache]

Honestly, I invest in bitcoin because of its high volatility, if it is less volatile and stable as gold, then I would rather invest in gold than take a big risk investing in bitcoin without big profit. Indeed, bitcoin's volatility has never been a downside. That is its biggest advantage, and most people are interested in ever. Would people still care much about it if bitcoin were a decentralized, anonymous, and private currency without volatility? Even I am doubting myself about that.

If bitcoin becomes much more stable, then you will reinvest all your funds in gold, even taking into account the fact that there is a lot of gold to be mined and only 21 million bitcoins?

Your gold will need to be stored in some kind of bank vault, the bank will know everything about you and in fact your gold will not be with you, but under the control of the bank. You will pay for storage and of course you will pay taxes. Do not forget that there have already been cases in history when the government seized all the gold from the population. Although bitcoin will become less volatile, it will always rise in price, since its number will never exceed 21 million, and with the adoption, there will be more and more people who want to own bitcoin.

If bitcoin becomes stable, meaning it ceases to be volatile, do you think the supply will still matter? Limited supply is one of the factors driving the bitcoin price, but I'm talking about the case where it becomes as stable as gold, talking about the supply is pointless.

I'm talking about physical gold, and you can buy and keep it at home, in your safe, I'm not talking about investing gold in a bank to earn interest like fiat. And taxes are part of civic duty, if you use bitcoin to evade taxes, you are damaging bitcoin's reputation.

[Good_Doctor]

Well you've said quite a lot but it seems unclear whether you want to throw light on the benefits of Bitcoin or you're giving information on both the good sides as well as bad sides of bitcoin.

[Games.Bitcoin]

One of the key benefits of Bitcoin is its decentralized nature. Unlike traditional fiat currencies that are controlled by central banks and governments, Bitcoin operates on a decentralized network called the blockchain. This means that no single entity has control over Bitcoin, making it resistant to censorship, manipulation, and seizure. Additionally, Bitcoin offers fast and secure peer-to-peer transactions, allowing users to send and receive funds globally without the need for intermediaries such as banks. Bitcoin also provides a degree of financial privacy, as transactions are pseudonymous, meaning they are not directly linked to individuals' identities. These features make Bitcoin an attractive alternative to traditional financial systems, providing individuals with more control over their money and the potential for financial inclusivity on a global scale.

[Droidlocal]

I believe that everyone who has reached this forum must already be familiar with the benefits of Bitcoin and, most importantly, blockchain. However, it is necessary to address the drawbacks as well, even to distance the cult-like group that tarnishes the project's image.

[Woodie]

OP these are the general benefits you have listed and I kind of agree! But at the end of the day I think we all have different preferences as to why we using bitcoin ,take for example people coming from countries were their home currency has become totally useless and unstable... bitcoin does come to fill this gap and their benefit in such a scenario is not a benefit to me. So like I said some benefits depend on current situation with economy etc.

However, it is necessary to address the drawbacks as well, even to distance the cult-like group that tarnishes the project's image.

Ummh never seen this side of the forum  

Isn't bitcoin relation to the user a personal matter regardless of " the cult-like group?"
I wonder who this group of people are...

[maydna]

Honestly, I invest in bitcoin because of its high volatility, if it is less volatile and stable as gold, then I would rather invest in gold than take a big risk investing in bitcoin without big profit. Indeed, bitcoin's volatility has never been a downside. That is its biggest advantage, and most people are interested in ever. Would people still care much about it if bitcoin were a decentralized, anonymous, and private currency without volatility? Even I am doubting myself about that.

Many people invest in bitcoin because there is an opportunity to get big profits, and many people have proved that. And that also happened to me, who has been investing in bitcoin for a long time because only by having lots of bitcoins will big profits come, even though we also invest in altcoins which can provide additional benefits. And the benefit of bitcoin is that we can have new investments that we can buy with little money. In contrast to gold which must follow the size of gold to be purchased and we must have more money to buy gold with the smallest size. From that point of view, investing in bitcoin will be more profitable because we can do it with small money and do DCA.

Both of you are right, people invest in bitcoin because they think some profit will be earned. They believe in some reason to gain profit with bitcoin, like its volatility will be utilized gain profit by Trading and Holding. Then, Its decentralization system and blockchain technology become an inspiration to develop exciting technology, and many other things .

Profiting from investing in Bitcoin is the goal of everyone who becomes a Bitcoin investor. And with the volatility, traders also try to get profits even though they have to face difficult circumstances, but they still try to get profits. And they are all trying to achieve their respective targets and so far, many people have succeeded. And if you haven't succeeded in reaching your target, it's only a matter of time because if you still do it, you can reap the benefits.

~snip~

Well said mate. Actually I have been seen a lots of people in my life who comes to Bitcoin i.e. Cryptocurrencies investment only for using it a quick rich scheme tools. But most of them who had such thoughts have dropped out from this sector  except some people who later realized their mistake and picked themselves up. First of all we need to change our perception about Bitcoin, Bitcoin is not a get rich quick scheme tools.  It is a virtual asset that increases our financial freedom.
And to talk about investment, it is not wise to invest more funds at once in any investment, altcoin says, and bitcoin says that if you want to gain profit in all of them, you have to always maintain a proper DCA management. And always take away greedyness from mind .

They will be hard-pressed to make a profit if they think crypto is a get-rich-quick scheme. However, investing in crypto takes time, and we must be patient to wait for it. Only those who can do it can make big profits when the bull season arrives. And to achieve the biggest profit, it's better for them to focus on bitcoin, but they can also invest in altcoins if they want additional profits. But it's better to be more careful if you want to invest in altcoins because altcoin movements are wilder.

[coinerer]

~snip~

Well said mate. Actually I have been seen a lots of people in my life who comes to Bitcoin i.e. Cryptocurrencies investment only for using it a quick rich scheme tools. But most of them who had such thoughts have dropped out from this sector  except some people who later realized their mistake and picked themselves up. First of all we need to change our perception about Bitcoin, Bitcoin is not a get rich quick scheme tools.  It is a virtual asset that increases our financial freedom.
And to talk about investment, it is not wise to invest more funds at once in any investment, altcoin says, and bitcoin says that if you want to gain profit in all of them, you have to always maintain a proper DCA management. And always take away greedyness from mind .

They will be hard-pressed to make a profit if they think crypto is a get-rich-quick scheme. However, investing in crypto takes time, and we must be patient to wait for it. Only those who can do it can make big profits when the bull season arrives. And to achieve the biggest profit, it's better for them to focus on bitcoin, but they can also invest in altcoins if they want additional profits. But it's better to be more careful if you want to invest in altcoins because altcoin movements are wilder.

Altcoin investment is very risky but it is also possible to make profits very quickly. But everyone prefers to invest in Bitcoin with less risk. Bitcoin is the currency with the lowest risk and highest profit potential of all cryptocurrency coins. So I think it's a good plan to invest only in bitcoins with less risk and exclude other coins. a long-term investment here is expected to yield good returns from Bitcoin

[Magic-Money]

Thank you sharing your little information about Bitcoin and benefits, which is simply know as profitable business as well, and the world is changing and technology has come to take a place where Bitcoin has been taken advantage of technology, because Bitcoin is a digital currency that trade and invest online without paying for a shop rent or pay for any task, so Bitcoin has many benefits someone has to be the part of deal of Bitcoin either investment or trading and is more reliable and profitable business as long you have the knowledge of what you're doing.