xSkylarx
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July 14, 2023, 02:56:04 PM |
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Now I ask how come it deviated to being an investment?.
People didn't call it an investment, they turned it into an investment property. Right, bitcoin was initially created to be a decentralized currency not controlled by anyone. But it is we investors who have turned bitcoin into a speculative asset, all because of our behavior and usage. But honestly, if bitcoin is not an investment, it is not volatile and not profitable. I wonder how many people will use it? Are you sure you are getting into bitcoin because you need privacy, not profit? Bitcoin is originally designed as a digital currency but since it’s adoption is still far from realization, then people use it as an investment instead because of its highly fluctuated price. And with volatility comes high chances to earn once it’s value reaches an all time high. That’s why as long as it has a volatile and unpredictable price, people will still be seeing it as a good investment. People in need of money see the potential of it; just imagine the price of it before and compare the price now; it is really a huge jump, and the first thought on this is that it can make you rich if you bought bitcoin in the last decade. Even though it is made for internet money, which is still used by others right now, people are seeing it more as an investment, and that is the way that they want to use Bitcoin, which we can't blame them for, and we should also be thankful for it as we have also benefited from it.
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lionheart78
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July 14, 2023, 04:15:42 PM |
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I know you must be wondering what's up with my topic right? I too was having a thought over this and I felt I should bring it here for discussion so we all can share our own various opinions. For quite sometime now all I have been seeing is statements and topics of bitcoin being an investment and it bothered me to look into it and I as well stand to be corrected logically and with facts with respect to this conversation. The sole reason why bitcoin was invented was to serve the purpose of digital money for which it was clearly stated on the white paper by Satoshi Nakamoto as captured below by quote; Bitcoin: A Peer-to-Peer Electronic Cash System. Bitcoin White PaperIf you look at the top page of the while paper, it is clearly written there and there was no captions like investment attached to it or being mentioned by Satoshi Nakamoto himself. Now I ask how come it deviated to being an investment?. I have read all through the white paper and never saw anything like investment but rather " an electronic peer 2 peer cash payment system" which means bitcoin is money but in a digital way of making payments. So how come it became an investment? One good reason why Bitcoin became an investment is that there is a profit to be made while trading it. Aside from that, it is proven that holding Bitcoin for a long time and selling it at the right moment can give an enormous profit to the seller. Investors see these features in the Bitcoin market and decided to allocate their money to buy Bitcoin and hold it until they get a satisfactory price to sell Bitcoin. It is the volatility of the Bitcoin market makes it as an investment even though it was created as currency. Aside from that, this is not the first time that investors uses currency for their investment. Many traders oftern invest money to buy and sell fiat currency cush as USD, Pounds, Yen, etc. For them as long as there is price fluctuation, there is profit to be made thus, making these currencies as an investment is just a normal thing for them. By the way, a person cannot acquire Bitcoin if they don't mine and hit a block or buy it from the exchanges or work for it. In short there is a resources needed to acquire Bitcoin and people often invested to these resources to acquire Bitcoin and they call this as Bitcoin investment.
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Asuspawer09
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July 14, 2023, 05:00:16 PM |
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Your right Bitcoin is a digital money/currency, something like that and that is actually how Satoshi made it, and its supposed to be a digital currency but it just doesnt work like that since Bitcoin in my opinion is not suitable to be a digital currency at this moment, at some point in the future it might be possible. I mean it's already a digital currency that everyone around the world can use, you could pretty much make transactions everywhere and send it to someone if you have Bitcoin. But as a currency that everyone can use to buy or use everywhere it just wouldn't work this time, what you need to do is to convert your Bitcoin first into fiat or sell your Bitcoin to get fiat money, and then you could use the fiat money on your transactions.
It was just because of the volatile market price of Bitcoin, due to its nature the supply of Bitcoin is just too low to keep up with the demand making the market price of Bitcoin skyrocket, as well as having a lot of movement. With that, it's difficult to make it something that you could use daily as digital money. But most investors use Bitcoin as an investment taking advantage of the cycle of the market and the volatile price making a good amount of profits on it.
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m2017
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July 14, 2023, 05:03:45 PM |
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~snip
I’ll immediately answer the question posed in the title: because instead of using bitcoin for its intended purpose (as electronic money), people began to use it as an investment (after they saw what you can buy for 1$, conditionally, and after a while sell it for 10$). In theory, it can even be called price speculation. The change bitcoin from electronic money to an investment instrument is, in a sense, an bitcoin evolution that even the creator didn't imagine, because, as you rightly noted, there is not a word about this in the whitepaper. I don't think that in the early stages there were evil uncle-whales who bought bitcoin on purpose for manipulation. Most likely, everything happened chaotically and according to market relations between the owners / holders of bitcoin. Someone bought, someone sold, and so on in a circle. People who saw the potential of btc and believed in future opportunities bought it, and those who didn't understand it sold. This is how bitcoin moved from one pocket to another. Some accumulated, others lost. The same thing is happening now. No one is stopping you from becoming the BTC-whale, with the only caveat that now this requires huge amounts of investment.
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skarais
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July 14, 2023, 05:08:14 PM |
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Bitcoin is an asset that allows its holders to earn huge returns due to the very high market demand. Its price volatility allows you to make multiple profits instead of using it as a means of payment. Of course it's fine if you don't make bitcoins as an investment asset, but you may miss the opportunity to get a return from its price volatility.
Bitcoin is traded around the clock and it would definitely be a great value added asset to have. While some users consider it digital gold, it's because of how the market works just like any other investment asset.
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CryptSafe (OP)
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July 14, 2023, 05:43:07 PM |
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~snip
I’ll immediately answer the question posed in the title: because instead of using bitcoin for its intended purpose (as electronic money), people began to use it as an investment (after they saw what you can buy for 1$, conditionally, and after a while sell it for 10$). In theory, it can even be called price speculation. The change bitcoin from electronic money to an investment instrument is, in a sense, an bitcoin evolution that even the creator didn't imagine, because, as you rightly noted, there is not a word about this in the whitepaper. I don't think that in the early stages there were evil uncle-whales who bought bitcoin on purpose for manipulation. Most likely, everything happened chaotically and according to market relations between the owners / holders of bitcoin. Someone bought, someone sold, and so on in a circle. People who saw the potential of btc and believed in future opportunities bought it, and those who didn't understand it sold. This is how bitcoin moved from one pocket to another. Some accumulated, others lost. The same thing is happening now. No one is stopping you from becoming the BTC-whale, with the only caveat that now this requires huge amounts of investment. I believe at the earliest stage of bitcoin inception there were lots of fud going about the space that bitcoin is this bitcoin is that do you not think it was such as a manipulative situation to cast doubt on holders making Dem sell at give away prices. Do you not think there were some people who saw the future ahead strategically positioned and comfortably controlling it with their orchestrated plans just as it is happening with fuds of lately as regards bitcoin price speculations and others which is affecting the market as a result of the rumor mongers. Have you not asked yourself why is it that when so so person talks or an institution does something, it positively or negatively affects the bitcoin market. I myself had a thought of all these questions and still arrived at the same answer. These whales control the market and does what ever they feel is ok by them to make more profits.
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kawetsriyanto
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July 14, 2023, 06:52:12 PM |
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If you look at the top page of the while paper, it is clearly written there and there was no captions like investment attached to it or being mentioned by Satoshi Nakamoto himself. Now I ask how come it deviated to being an investment?. I have read all through the white paper and never saw anything like investment but rather " an electronic peer 2 peer cash payment system" which means bitcoin is money but in a digital way of making payments. So how come it became an investment?
It is the same as gold. When it is found the first time, it is used for ornamental. But as time goes by, people used gold for a payment tool and then used it for an investment, too. That's because gold value is increasing, people know they can take advantage from the growth of the value. However, is this wrong? No, it is not the wrong decision made by people, the function of gold can be varied due to the improvement of its adoption. It is something that happened in Bitcoin as well. Since the value is increasing, it can be also used for an investment. People adopt it for their digital asset because they know the benefits. Sure, Satoshi never said "investment" as Bitcoin function on the white paper because it is not the main function. It can be a digital asset (investment) due to its additional function on its adoption. When it is used for payment of goods and services on daily basis and we having full custody of our funds in a digital way would it be necessary we calling it an investment aside the price increase which is fluctuating and barely stable for a long time.?
As long as there is a significant increase in its value, it deserves to call as an investment. The price fluctuation indicates a potential price increase. So, it is very a clear sign that price is never stable. Bitcoin price is volatile, that's why people prefer to use it as a digital investment than to use it as a payment tool. I believe Satoshi Nakamoto the sole originator of the bitcoin knows much better than everyone why he invented the bitcoin and I also would be looking forward to his reappearance be it pseudo anonymous or otherwise to making some notable observations on the bitcoin journey so far.
I believe there will be no reappearance of Satoshi. Satoshi wants crypto be decentralized, it means to have no someone or an institution as the regulator. Even if he is still alive, I assume he will remain hide his real identity forever. https://onlygold.com/facts-statistics/history-of-gold/IMO/CMIIW
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macson
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July 14, 2023, 07:00:05 PM |
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why is bitcoin called the currency of the future because you are free to classify bitcoin according to your needs, if you want to make bitcoin an investment then you just have to buy it now and then hold it for the next few years or until you reach the price you want or if you want being bitcoin as a legal means of payment, you just have to find the seller of the goods you need then negotiate payment via bitcoin with that person, bitcoin is really extraordinary, easy or difficult to understand it depends on each individual.
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Bazzu
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July 15, 2023, 02:38:28 AM |
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I also really do not understand about this, but I will speak in my opinion.
bitcoin has a fluctuating price because many people use btc like someone selling btc and someone buying btc, so that way the price of btc fluctuates. in my opinion, even though btc is used for investment, of course are not wrong because bitcoin is still a digital currency, even though we use it for Investment and btc is still btc.
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Strongkored
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July 15, 2023, 03:30:45 AM |
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Because Bitcoin is considered a digital currency that has the potential to provide benefits if people start investing in it as soon as possible, and people who invest in Bitcoin never use it as a digital means of payment, only delay it and will use it when the value of Bitcoin increases by providing large profits to people who are patient enough to keep saving, more than that its use is not too massive where it can be used in all sectors of life so it is natural that many Bitcoin owners prefer to save or make it an investment asset rather than a means of payment.
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TribalBob
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July 15, 2023, 04:17:15 AM |
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depending on what people think bitcoin is, according to their needs and intentions to keep bitcoin itself because with progress and development there are many functions of bitcoin, not only as digital money, but even more as a digital money investment so it's legal for all to give meaning and purpose why they have bitcoin the whitepaper is only the main reference for making bitcoin with the fact that everything is developing
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CryptSafe (OP)
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July 18, 2023, 07:50:09 PM |
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why is bitcoin called the currency of the future because you are free to classify bitcoin according to your needs, if you want to make bitcoin an investment then you just have to buy it now and then hold it for the next few years or until you reach the price you want or if you want being bitcoin as a legal means of payment, you just have to find the seller of the goods you need then negotiate payment via bitcoin with that person, bitcoin is really extraordinary, easy or difficult to understand it depends on each individual.
Truly individual perspective is the force driving the bitcoin and possibly the market as well. Each individual sees bitcoin based on their usability, profit derived and other parameters they have put in place to bitcoin usage and hence some see it as an investment while some see it as a means of digital peer2peer payment system for the sales and purchase of gods and services. This have given bitcoin the stand on which it is today and that would never go down in years to come but rather it would keep growing better and stronger till it is globaly adopted by the organisations and governments of the various countries of the world.
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Kasabus
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July 18, 2023, 08:22:05 PM |
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Bitcoin is an asset that allows its holders to earn huge returns due to the very high market demand. Its price volatility allows you to make multiple profits instead of using it as a means of payment. Of course it's fine if you don't make bitcoins as an investment asset, but you may miss the opportunity to get a return from its price volatility.
Bitcoin is traded around the clock and it would definitely be a great value added asset to have. While some users consider it digital gold, it's because of how the market works just like any other investment asset.
Bitcoin is originally designed to a be a digital currency. However, since it’s adoption is still in the process, people are free to use it as an investment knowing it can give us massive returns everytime it’s value surges high and reaches another peak price. Through long term hodling and trading, bitcoin can give us 10x profits as long as we’re aware when would be its best time to sell, and that is when it’s price has reached its all time high.
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skarais
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July 18, 2023, 08:43:28 PM |
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~~~
Bitcoin is originally designed to a be a digital currency. However, since it’s adoption is still in the process, people are free to use it as an investment knowing it can give us massive returns everytime it’s value surges high and reaches another peak price. Through long term hodling and trading, bitcoin can give us 10x profits as long as we’re aware when would be its best time to sell, and that is when it’s price has reached its all time high. Even if bitcoin has become a globally adopted currency, trading and investing will still be a profitable option for traders and investors. Its price volatility is the reason why investors and traders trade bitcoin, but when the value becomes more stable the trading volume may be lower. I don't see anything wrong about the usefulness of bitcoin as an investment asset or a traded asset. It is something that is as much possible to do just as one would trade any other currency.
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carlfebz2
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July 18, 2023, 09:44:17 PM |
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I know you must be wondering what's up with my topic right? I too was having a thought over this and I felt I should bring it here for discussion so we all can share our own various opinions. For quite sometime now all I have been seeing is statements and topics of bitcoin being an investment and it bothered me to look into it and I as well stand to be corrected logically and with facts with respect to this conversation. The sole reason why bitcoin was invented was to serve the purpose of digital money for which it was clearly stated on the white paper by Satoshi Nakamoto as captured below by quote; Bitcoin: A Peer-to-Peer Electronic Cash System. Bitcoin White PaperIf you look at the top page of the while paper, it is clearly written there and there was no captions like investment attached to it or being mentioned by Satoshi Nakamoto himself. Now I ask how come it deviated to being an investment?. I have read all through the white paper and never saw anything like investment but rather " an electronic peer 2 peer cash payment system" which means bitcoin is money but in a digital way of making payments. So how come it became an investment? I believe in the course of adding more value to it's existence, whales bought large volume by market manipulation at the early stage of bitcoin inception and those who couldn't stand the market wave sold out giving way for the whales to take over the market and since then along with other occurrence and scenarios, bitcoin became an investment and store of value aka digital gold as per say as it worked out for the whales according to their schemes. Would it be that easy to correct that notion of bitcoin being called an investment other than money. When it is used for payment of goods and services on daily basis and we having full custody of our funds in a digital way would it be necessary we calling it an investment aside the price increase which is fluctuating and barely stable for a long time.? I believe Satoshi Nakamoto the sole originator of the bitcoin knows much better than everyone why he invented the bitcoin and I also would be looking forward to his reappearance be it pseudo anonymous or otherwise to making some notable observations on the bitcoin journey so far. Basing up on WP which it is; A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. SourceThis is actually that Satoshi do really have in mind but for sure he wasnt expecting for the community to have that kind of treatment on making it as an investment because it turns out that it is really that totally be able to have that kind of opportunity for those who do accumulate do able to make money or really make profits which is something that a good additional instead on just using it as a digital currency which it did really make out that interest even more or spark out those people around on which i couldnt really blame them out.
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Vaculin
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July 18, 2023, 09:58:13 PM |
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Bitcoin can be freely used as a digital money and as a good investment. It’s everyone’s choice where he’ll be more comfortable and he’ll gain more advantage. And as for now, seeing bitcoin as an investment is way more exciting and profitable. But of course you need not to invest if you are still not knowledgeable on how bitcoin works, and if you have still doubts and hesitations on taking its risk.
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Finestream
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July 18, 2023, 09:59:16 PM |
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Bitcoin is never limited in its usage. You can used it to pay, to gamble, or even as an investment. And I think bitcoin as an investment is the most profitable option at the moment seeing how it’s high volatility has changed a lot of lives letting them experience their big breaks in crypto. That’s why bitcoin investing or trading have been trending online not only because people want to hype it but also it’s the most effective means today to scam people, especially those who are greedy with money and profits.
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TimeTeller
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July 18, 2023, 09:59:20 PM Last edit: July 18, 2023, 10:19:49 PM by TimeTeller |
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Bitcoin can be freely used as a digital money and as a good investment. It’s everyone’s choice where he’ll be more comfortable and he’ll gain more advantage. And as for now, seeing bitcoin as an investment is way more exciting and profitable. But of course you need not to invest if you are still not knowledgeable on how bitcoin works, and if you have still doubts and hesitations on taking its risk.
With the past decade of bitcoin's existence, it evolves to being one of the best digital investments in this market. Sure, Satoshi had a different use case in mind when he created this currency. However, who would have thought that this digital currency will pull off and attain such value today? Early users even had no idea that this will achieve such status today and attract big time companies. This is why we are enjoying this currency to be an investment today, for one because of its high volatility feature.
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_BlackStar
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July 18, 2023, 10:46:22 PM |
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The use case of bitcoin is a means of payment - but users can always trade it. Bitcoin is a volatile asset - so there is nothing wrong if someone or perhaps most users choose it as an investment asset and trade it. Satoshis may not trade bitcoin - but users are always free to do so to generate profits and long-term returns.
After all trading and investing will also support larger transactions to support bitcoin growing stronger - so it's not wrong for most users to call bitcoin an investment asset.
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romero121
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July 18, 2023, 10:57:56 PM |
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The use case of bitcoin is a means of payment - but users can always trade it. Bitcoin is a volatile asset - so there is nothing wrong if someone or perhaps most users choose it as an investment asset and trade it. Satoshis may not trade bitcoin - but users are always free to do so to generate profits and long-term returns.
After all trading and investing will also support larger transactions to support bitcoin growing stronger - so it's not wrong for most users to call bitcoin an investment asset.
The use case is the thing that gives it the term investment. The purpose for which Satoshi innovated is to be an alternate to the traditional system followed and to eliminate the middle man. Further the growth and acceptance have made it to be more successful beyond the usage as a transaction source. Over time bitcoin have turned as a multiple usage asset. It have been used as a transaction source, investment, trading, as currency in exchange for services and it goes on. It is all about the individual person's thought to call it an investment/currency or something else.
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