Reason for acquiring bitcoins.

[CryptopreneurBrainboss]

The main reason for buying or acquiring Bitcoin is to get rich. People usually invest in these assets to get rich quickly. Over the years, Bitcoin prices continue to amaze many people and I am imagining about the people who bought Bitcoin 5 or 10 years ago. I am sure they became millionaires. If, in this short span, a person becomes a millionaire, then why not try your luck in it?   Another advantage of having Bitcoin is that you will have your money in your custody.

Acquiring Bitcoin to get rich is quite a big word because it mightn't be possible anymore because of the price of Bitcoin. Those who can buy the amount of Bitcoin that can make them to become rich if bitcoin increases in value have to be rich already before they can spend the amount of money they'll need in acquiring the amount of Bitcoin to make them rich. If you say people are investing to make profits, that's a reasonable choice of word but to say rich, it looks very unlikely or it'll take a very long time of holding to achieve.

Bitcoin isn't that volatility that the price will increase and make you rich overnight, other cryptocurrency can do that for now but Bitcoin can't unless you'll be willing to hodl for a long period of time. Those who bought 5 to 10 years ago aren't lucky but deserve every profit that they're getting because they held onto their Bitcoin. Many people would had still missed the opportunity if they knew about Bitcoin then just as they're hearing about Bitcoin today and ignoring it.

It doesn't really matter what our reason behind acquiring Bitcoin is but we should make sure we're acquiring Bitcoin as it's better to be scammed than to miss out on this opportunity of a lifetime to be among the next generation of wealthy people from acquiring Bitcoin during the early days.

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[freedomgo]

When I decide to acquire bitcoins, by buying when there is dips and DCAing after, there’s only one thing in my mind, and that is to keep bitcoin for long term goal. That is to be in profits with bitcoin not just for today but even in times of retirement, that we can finally say that we have build financial security and freedom through bitcoin.

While others may define it as a freedom for them, for me it’s actually both. Freedom to increase my wealth and profits with bitcoin.

[oktana]

The core reason is to participate in the decentralized network where your money is held and controlled only by you, where there’s no limit to how much money you can hold and where no documents whatsoever is required as well because you will be anonymous. However, people hold it to make money off its volatility. If that is also what you want then you do not need to wait till ATH to sell - once the price has reached an amount where you find your gain decent, you can sell. It’s your choice, so you sell whenever you wish to.

[ARTOIS]

Obtaining Bitcoin is an investment for the future, and ithe goal is clear, which is to get rich and make money
It takes place in three stages: you buy, store, and then sell when the price rises.
Everyone is investing in btc want a lot of cash

[Odohu]

Even though I have noticed some people pretending to buy Bitcoin for the love and not because they believe they can get financially comfortable through it, majority of Bitcoin investors got into Bitcoin because they know the wealth generating power of Bitcoin. Even those who got into Bitcoin because of the use case like myself, somehow they realized that it could be a store of value and started holding. So the ultimate reason for holding Bitcoin is to make more money from it, leveraging on the volatility and other amazing properties of it.

However, there are other reasons I have come to realize that made people invest in Bitcoin. Personally, I have made some adjustments in my future plans and that including adding Bitcoin to the assets I will transfer my heirs. Consequently, I'm building to HODL and never to sell my entire assets irrespective of the price Bitcoin gets to. I will experience bull and bear seasons as long as I live and will never run out of Bitcoin.

[kasablings]

The main objective of most people is to get rich. Bitcoin has been the most profitable established asset to date since its inception.

But apart from this, those of us who have been at it for a long time and know how it works also acquire it because we like to be our own bank, that is, to have part of our wealth in our own hands and not in those of an intermediary who can easily confiscate and censor it.

The aim is usually to accumulate until you have a good amount, but as the accumulation process that most people use is slow and long, doing what is known as DCA (regular purchases), we sometimes take advantage when the price has risen to sell or spend and thus enjoy the profits.

But the long-term goal is to have more and more bitcoin.

For real the aim is to get rich,every person is looking for profit one way or the order.so acquiring Bitcoin is to make profit and get rich.i have a friend who years back was informed about Bitcoin when Bitcoin I merged,and he was having funds to invest and he did so,few years later he cashed out when we go to know it was the Bitcoin he invested in that profited him at the right timing.

[Wakate]

The core reason is to participate in the decentralized network where your money is held and controlled only by you, where there’s no limit to how much money you can hold and where no documents whatsoever is required as well because you will be anonymous. However, people hold it to make money off its volatility. If that is also what you want then you do not need to wait till ATH to sell - once the price has reached an amount where you find your gain decent, you can sell. It’s your choice, so you sell whenever you wish to.

There are many reasons why people decide to invest in Bitcoin and one of the reasons is because of the volatile market. The market is volatile so it is very easy for one to buy at low price and sell at higher price. The difference between these prices is what brings profit to us. That is why there are people in the market that are always looking for the bear market so that they can accumulate enough Bitcoin and there plan is to sell when the price goes up. This strategy has been working for many people that is why they keep buying and selling at a speculated price when they know the market wil either bear or bull so they can make money.

[Xal0lex]

Bitcoin 1s and 0s in code, not tangible and its price swings like bat out of hell. Worth whatever somebody else is willing to buy it for.

However, that doesn't stop those people who buy and sell bitcoin, thereby earning real tangible crisp dollars People don't care whether an asset is tangible or not. If they can make money on that asset, they don't care about its tangibility. And the price, which as you say "swings like bat out of hell" is exactly what helps to make money.

[DaNNy001]

Firstly Bitcoin itself is a currency just like every other currency but the thing with Bitcoin is that you are the one true owner of it as you can control it and own it privately and that's even outside the benefits that it brings when it comes to investment because another major reason of people owning Bitcoin is because of its ability to serve as a means of investment thereby possibly making those that adhere to the rules involved in using it as investment rich to certain comfort zone.

[GeorgeJohn]

What is the essence of buying and hodling Bitcoin like is it to accumulate it till it attains ATH then we sell it off and wait for a dip and start buying and holdling again or just accumulate it and start using it as a digital means of exchange or are we going to continue till the 21 million Bitcoins have be mined, already 19 millions have been mined remaining 2 million because overtime, i have come across several topics about buy and hodl bitcoin so i actually wish to know the sole objective of acquiring bitcoins.

the major reason why everybody want to buy Bitcoin when the price is low and sell when the price is high is because of profit because the objectives of every investor is to make a profit so buying mind the prices low will be favorable to someone who want to venture into a long-term investment in Bitcoin so therefore every investor is likely to buy when the price is low so that during the bullrun they may likely make a profit through the investment, especially they likely to venture into long-term investment, the billionaires we have today through cryptocurrency investment especially Bitcoin ventured into long term investment not a short term Investment

[Dzwaafu11]

Maybe some just do it for fun and they're bored with their lives as they've got nothing to do and they've got tons of money already so, they use it just to play with their money's value and try to increase it.

Yeah. you are right, and I believe the fact that you said some people are using bitcoin because they have a lot of money and are looking for a way to Increase it. Anyone who carries their money and comes near bitcoin, I won't doubt it they come for an investment plan; therefore, if someone even tells you this, don't believe it because it is a lie. not bitcoin investment. So let me tell you, they all come for money, and it is because of the safety and profits they know it will generate for them after investing in it for a long period of time.

Furthermore, bitcoin investment is not for people who are bored because it is not something that, after investing in it, you still have another thing to do since you will not be the one to control the market or contribute anything to get a bigger return. What effect is this going to have for someone who is bored and looking for a way to have fun? So even after the investment, it is left for the investor to secure the investment by keeping their private key safe and other things until it reaches their target to sell.

[Davidson500]

As the world's largest cryptocurrency, Bitcoin, has gained impressive success and continues to soar in popularity. Bitcoin has to offer investors, including its continuous growth, consistent track record, liquidity, low inflation risk, and simplified trading. The data shows that the number of Bitcoin users grew by 44% in just one year, and there are currently 100 million Bitcoin wallets with value. Additionally, Bitcoin has consistently surpassed its all-time highs and is considered an inflation hedge due to its limited supply. Its ease of trading makes it accessible to investors of all experience levels. Some of the reasons for acquiring Bitcoins are as follow:

Continuous growth: According to data, the number of Bitcoin users grew from 45 million in January 2020 to 65 million in January 2021 - a 44% increase in just one year! Currently, there are approximately 100 million Bitcoin wallets with value, with 1 million users transacting Bitcoin each day.

Track record: Bitcoin has consistently surpassed its most recent all-time highs, achieving full recovery after a price crash or other setbacks

Liquidity: Bitcoin can easily be traded for cash or assets like gold - instantly and with incredibly low fees. This makes Bitcoin a great investment for people looking for short-term profit, as well as those considering long-term investment due to its high market demand.

Lower inflation risk: Unlike world currencies that are regulated by their governments, Bitcoin is not susceptible to inflation. In fact, it's considered an inflation hedge because of its limited supply that is not influenced by its price.

[spiker777]

What is the essence of buying and hodling Bitcoin like is it to accumulate it till it attains ATH then we sell it off and wait for a dip and start buying and holdling again or just accumulate it and start using it as a digital means of exchange or are we going to continue till the 21 million Bitcoins have be mined, already 19 millions have been mined remaining 2 million because overtime, i have come across several topics about buy and hodl bitcoin so i actually wish to know the sole objective of acquiring bitcoins.

That totally depends on the person accumulating Bitcoin. depends on his reasons of buying bitcoin. Bitcoin can be used for many purpose, you can buy and sell it which is called trading in simple words, buy low and sell high to earn profit.
or you can use that as a way of payment, receiving or sending payment using bitcoin is a lot more convenient comparing to other digial payment sources such as paypal etc (that's my opinion)
Or you can just HODL it and be a long term Bitcoin HODLer, if the price of Bitcoin increase in future, value of your holding will also increase accordingly.

[Silver005]

They are many reasons why we acquired Bitcoin and holding it, because one want to become Rich, and Bitcoin has become the only way in which one can attain his greatness, and again it's a legitimate online business which One can boldly get involved and have a successful business without no stress , Bitcoin has been a business opportunity one can trust and wish to buy as many as possible for future use because it future always becomes great and high,
Bitcoin is the best highest online business successful that has ever happened which attracted too many people to invest in it and trade in it as well and you investment flows very well and you make a lot of profit, and it's a business that can give you a chance to buy in low price and sell at the highest price sometimes, it's a business that one always got into no matter how it's and you must surely make a profit from it,..

[Finestream]

People are obsessed with acquiring bitcoin simply because of its high potentials to make someone gain huge profits in the future. No one will suffer from consistent losses in bitcoin if he won't be profitable in the future, of course that is only an initial motivation so that one will improve his knowledge and performance in the market, otherwise he'll end up investing at a loss like he is gambling and see his bankroll continue to vanish.

[albon]

Every person has their reasons for accumulating and holding Bitcoin. I am among the people looking for financial freedom and decentralization, in which I become the sole controller of my assets without the restrictions of banks with their restrictive measures and time-consuming procedures and without the control of any third party or government. Bitcoin is not only an excellent investment vehicle for creating wealth, it is like the wealthiest precious metals due to its limited supply, which leads to an increase in the scarcity and value of Bitcoin over time, but it has many other advantages as it also gave complete freedom to pay to all countries of the world, throughout the day, and with faster and smoother transactions. Many stores and platforms now accept Bitcoin as a payment method. This currency has great positives compared to its negatives, so it is worth accumulating and taking risks, as it can turn the scales of the game and transform anyone’s life for the better.

[GeorgeJohn]

People are obsessed with acquiring bitcoin simply because of its high potentials to make someone gain huge profits in the future. No one will suffer from consistent losses in bitcoin if he won't be profitable in the future, of course that is only an initial motivation so that one will improve his knowledge and performance in the market, otherwise he'll end up investing at a loss like he is gambling and see his bankroll continue to vanish.

You are a point that the essence of people acquiring bitcoins and hold is because of making of profit, normal circumstances bitcoin is like an essential commodities and their is no way you can invest in bitcoin without knowing that profit is involve in bitcoin, so bitcoin you can only make a profit when you have targeted the time of increment and the time of decrement.

[Mpamaegbu]

It is majorly used now as an investment.100 years from now that utility would have changed as it evolves to changing times and new possibilities would have been explored.

Once that paradigm shift happens, trust Bitcoin to lose its allure. Whether we like to accept it or not, most of us hodling it are doing so because of the asset side of it and not as a means of payment. Bitcoin has since lost that right as a payment ease to newer tokens and coins because of its constant and unending congestion bottleneck and exorbitant fees. So, if the only thing Bitcoin becomes useful as in future becomes that, then it's going to become boring investing in it.

[yazher]

The core reason is to participate in the decentralized network where your money is held and controlled only by you, where there’s no limit to how much money you can hold and where no documents whatsoever is required as well because you will be anonymous. However, people hold it to make money off its volatility. If that is also what you want then you do not need to wait till ATH to sell - once the price has reached an amount where you find your gain decent, you can sell. It’s your choice, so you sell whenever you wish to.

That's one thing but when it comes to your own decision, you don't want to miss such huge opportunities while it's hot and trending and you have all the capability to join the club. that's exactly what the big companies have been doing these recent years and no wonder they became one of us right now who are investors and also are waiting for another Bitcoin price bull run.

As for the others who were buying bitcoins at a specific time while it was trending for a while when its price reached another ATH, those are veteran risk takers and usually, they are buying bitcoins with a huge amount of money and that's not recommended for us who only can afford a small amount of investment with bitcoins monthly. Because those people know exactly when to pull out their investment because they have been doing it for a while now.

[oktana]

The core reason is to participate in the decentralized network where your money is held and controlled only by you, where there’s no limit to how much money you can hold and where no documents whatsoever is required as well because you will be anonymous. However, people hold it to make money off its volatility. If that is also what you want then you do not need to wait till ATH to sell - once the price has reached an amount where you find your gain decent, you can sell. It’s your choice, so you sell whenever you wish to.

There are many reasons why people decide to invest in Bitcoin and one of the reasons is because of the volatile market. The market is volatile so it is very easy for one to buy at low price and sell at higher price. The difference between these prices is what brings profit to us. That is why there are people in the market that are always looking for the bear market so that they can accumulate enough Bitcoin and there plan is to sell when the price goes up. This strategy has been working for many people that is why they keep buying and selling at a speculated price when they know the market wil either bear or bull so they can make money.

Very correct. But understand that this wasn’t the reason why Bitcoin was created at first. I am not saying it’s wrong or improper to buy Bitcoin for that reason but then, I had to first explain that in my previous reply that there are a couple other importance of buying Bitcoin. But the most important which is why Satoshi Created Bitcoin is the ability of Bitcoin to eliminate middle men; giving us the P2P transaction.