Different Types of Bitcoiners

[TOGIBI]

After reading several posts on this forum, I’ve come to the following conclusion:

Some people invest in Bitcoin to:
• Make a profit;
• Have more control over their own money;
• Protect themselves against inflation;
• Or combine these three goals.

Personally, when I see some people wondering if they’ll get rich by owning just a small fraction of a Bitcoin, it amounts to underestimating the value Bitcoin offers.
The question isn’t, “Will Bitcoin make me rich?” but rather, “Will Bitcoin adoption continue to grow over time?”

Share your thoughts

[arzuo]

Bitcoin is not a hot topic that will make people rich, but rather something that will make your investment more valuable at a time when the world is facing currency 💶 devaluation and centralized (government 🏛️ currency control/inflation) financial 〽 losses.😭

If more governments and people 👨🏻‍👩🏻‍👦🏻‍👦🏻 hold Bitcoin in the future, its value will increase and this is naturally observed!!
Bitcoin's value is created by its acceptance and use. It was not created by any luck or control, but rather its decentralized independent economy and non-inflationary system is what makes it popular and valuable!💰

[BattleDog]

There are definitely different tribes of Bitcoiners, but I wouldn't separate them too neatly. Most people are some ugly mixture of all three depending on the day, the price, and whether their local currency is currently being put through a wood chipper or not.

Some people arrive for profit and stay for self-custody. Some arrive because their bank annoyed them... Some talk about inflation protection but panic-sell the first time Bitcoin does its usual 20% slap across the face. That's normal. Bitcoin has a funny way of sorting tourists from residents.

I also don't think wanting profit is automatically shallow. A monetary network that grows in adoption should, by design, reward early risk and patience.

[sergiorus]

After reading several posts on this forum, I’ve come to the following conclusion:

Some people invest in Bitcoin to:
• Make a profit;
• Have more control over their own money;
• Protect themselves against inflation;
• Or combine these three goals.

Personally, when I see some people wondering if they’ll get rich by owning just a small fraction of a Bitcoin, it amounts to underestimating the value Bitcoin offers.
The question isn’t, “Will Bitcoin make me rich?” but rather, “Will Bitcoin adoption continue to grow over time?”

Share your thoughts

Nobody invests in Bitcoin for the sole reason of protecting themselves against inflation. They are always interested in it in at least one more way.
There are far simplier inflation hedges out there that have been around far longer and are less risky for that particular scenario.

Your other points seem legit. I would add cross-border payments and hedge against collapse of the whole financial system.

[elda34b]

Sounds like common knowledge if you're in the forum for long enough imo. I mean it's no secret that everyone buys Bitcoin to make profit in one way or another, you don't have to wait and send forms to 10k participants to make a decent conclusion. I'd be surprised if someone said they bought or own Bitcoin to spite their friend or something similar though. Sounds like a costly hobby to do. But anyway, everybody is free to do what they wanted, whether to burn their money or not.

[Orpichukwu]

With the level which Bitcoin's value has reached, it's no longer a thing of me thinking about how now it can make me rich. Those who are millionaires who spare some millions for investing in it can only make more millions if they hold it for a long time. What you are willing to risk should determine how much profit you can make out of it, but it can't elevate you from poverty, and all this will be determined by how much people still demand of it.

[Zoomic]

After reading several posts on this forum, I’ve come to the following conclusion:

Some people invest in Bitcoin to:
• Make a profit;
• Have more control over their own money;
• Protect themselves against inflation;
• Or combine these three goals.

Some are into bitcoin because they don't know what tomorrow has for us. They believe that bitcoin is the future of finance, so it will make sense for them to queue in now than to be late.

But among all the reasons above, the majority is here because of profit making. If bitcoin was to be a stable coin, many would not embrace it.

Personally, when I see some people wondering if they’ll get rich by owning just a small fraction of a Bitcoin, it amounts to underestimating the value Bitcoin offers.
The question isn’t, “Will Bitcoin make me rich?” but rather, “Will Bitcoin adoption continue to grow over time?”

If bitcoin continues to grow in the future, how does it concern a poor man or an average man if it doesn't make them rich?
The end point is, even if bitcoin cannot make us rich, it should atleast make us comfortable.