What are the reasons behind Bitcoin being so strong?

[Alonso_]

Bitcoin is so strong because it has given people that knowledge of financial freedom, considering that you’ve been buying and investing in bitcoin there is an opportunity that it gives you financial freedom in a long time, when you have made profits as well, also in terms of decentralization of bitcoin is something that is also very important because it has made bitcoin special when you have control over your bitcoin assets, you have control over your bitcoin for the short and long term investment, which is why there is an enablement for a long term investment when you stay consistent, nobody have control over your bitcoin and also scarcity is something that have also made bitcoin special and unique.

[HustleZ]

You're right about decentralization, but it can't be the only factor that strengthens Bitcoin, it also gains value overtime which is why many people adopt it, so that factor can't be overlooked, which is why yoi should also acknowledge the fixed supply and demand/supply dynamics. Decentralization makes Bitcoin unique and secure from the control of any government or entity but scarcity and demand contributes to it's value so you can't talk about decentralization and disregard that.

Its very true, only decentralisation does not make bitcoin a valuable item but a series of things that no other cryptocurrency can do or if they do it they cant do it better, but i think bitcoin is valuable because people trust it. It is THE first cryptocurrency people knew about at this big scale and because of it being the first cryptocurrency it is trusted by everyone. There can easily be another crypto that is same like bitcoin but it woldnt suceed as much because people would merely see it as a copy and they wont trust it. So being the first cryptocurrency also gives bitcoin an edge

[Bluedrem]

You have said alot of things about the reason why Bitcoin is so strong, and i see that so much has happened in the BTC market that some people seem not to notice the major reason why early BTC holders and miners joined the space in the first place when BTC was still $0.1, which is the technological concept it presented and the problem it solved. For the record, every invention that excels in this area will technically thrive.
I believe this shows that BTC price is just the surface, and its real strength comes from properties it possesses that can’t be changed.

Yes, I meant to say that we can only see its effectiveness through price, but the reasons behind Bitcoin being so strong are its structural structure and some unique features. While we know that if there is a certain limit to any asset and if that asset is accepted by people, then gradually the abundance of that asset decreases, resulting in an increase in price, the same is true in the case of Bitcoin. The total supply of Bitcoin is 21 million and many Bitcoins have already been lost from here, so there is a very small number of Bitcoins in the market, but in this world of 800 million people, if even 10% of people have an idea about Bitcoin and express interest in investing, then there will be a considerable shortage of Bitcoin in the market, resulting in a significant increase in price, in which case we can consider its supply as a strong basis rather than considering price as the main force.
Again, it is completely decentralized, meaning that there is no one controlling it, you are the only owner of all the Bitcoin you have. There is no third party involved here, and no one person can have a major impact on the market even within the market system. In this case, we can give priority to its decentralized power behind Bitcoin's strength.

[suzanne5223]

You have said alot of things about the reason why Bitcoin is so strong, and i see that so much has happened in the BTC market that some people seem not to notice the major reason why early BTC holders and miners joined the space in the first place when BTC was still $0.1, which is the technological concept it presented and the problem it solved. For the record, every invention that excels in this area will technically thrive.
I believe this shows that BTC price is just the surface, and its real strength comes from properties it possesses that can’t be changed.

Yes, I meant to say that we can only see its effectiveness through price, but the reasons behind Bitcoin being so strong are its structural structure and some unique features.

Yes, the reason behind Bitcoin's strength is its core concept, but the effectiveness of BTC depends on the aspect you focus on or believe in, which you have already pointed out as the price, because BTC being used as a hedge fund when it comes to purchasing power is also another part of its effectiveness.

world of 800 million people

8.3 billion people.

There is no third party involved here, and no one person can have a major impact on the market even within the market system. In this case, we can give priority to its decentralized power behind Bitcoin's strength.

We can give priority  to Bitcoin decentralization due to the role it plays, but I have to disagree with you when you said "no one person can have a major impact on the market".
This is incorrect because Strategy Inc. (formerly known as MicroStrategy) have done this several time, so is also the like of President Trump, etc. Besides, in the future, the ETF's organization will do something worse if we don't prioritize self-custody.

[Zaka1221]

The main reason why Bitcoin is strong is the community because it's community always supported it and they'll always support it. Although, it has many technical advantages as well but in my eyes the support of community is the main thing that's helping Bitcoin being strong. So as long as the community will support it, this coin will keep growing in value over time. The day will come when one Bitcoin will be worth more than $1 million and then the ones who didn't bought it already will regret badly.

Community is always important but still exists at the bottom because financial freedom and decentralization are two of the most important features that always stay at the top of this list about Bitcoin strength. After having good adoption, now things are getting on a new level because many big investors are having good confidence, and they are entering into the community with their huge funds.
Price could never be on a stable level because it's always keeping moving, and volatility is always staying with this due to its nature. Keeping things on balance is easy but still always needs to have you manage your entire portfolio with strategy because it's risky, and people who do not have a good understanding of risk management can face problems during panic selling.

[Iranus]

The main reason why Bitcoin is strong is the community because it's community always supported it and they'll always support it. Although, it has many technical advantages as well but in my eyes the support of community is the main thing that's helping Bitcoin being strong. So as long as the community will support it, this coin will keep growing in value over time. The day will come when one Bitcoin will be worth more than $1 million and then the ones who didn't bought it already will regret badly.

Community is always important but still exists at the bottom because financial freedom and decentralization are two of the most important features that always stay at the top of this list about Bitcoin strength.

Community matters, sure, but people support Bitcoin because they stand to benefit from it too. If Bitcoin didn't offer returns, financial freedom, privacy, or whatever else people need from it, there'd be no support for it in the first place.

So at the end of the day ,  it's Bitcoin itself and its core properties, like decentralization and censorship resistance...that give it its value and appeal .

The community  can help Bitcoin grow, but it's not the only thing behind Bitcoin's strength, and it's not a guarantee of future price appreciation .

[hd49728]

Community matters, sure, but people support Bitcoin because they stand to benefit from it too. If Bitcoin didn't offer returns, financial freedom, privacy, or whatever else people need from it, there'd be no support for it in the first place.

So at the end of the day ,  it's Bitcoin itself and its core properties, like decentralization and censorship resistance...that give it its value and appeal .

The community  can help Bitcoin grow, but it's not the only thing behind Bitcoin's strength, and it's not a guarantee of future price appreciation .

What you said is true with people who accepted Bitcoin and joined Bitcoin communities some years after 2009 when Bitcoin adoption was better, and there were some foundations for it like exchanges.

With people like the founder Satoshi Nakamoto, very first developers and people who interacted with Satoshi and contributed to Bitcoin developments, they did not actually get any benefit at that time or a short time after that. They just realized something interesting in Bitcoin protocol, and actually stepped in to contribute something and see how Bitcoin goes next.

Satoshi's lesson.

[ruykeri]

The main reason why Bitcoin is strong is the community because it's community always supported it and they'll always support it. Although, it has many technical advantages as well but in my eyes the support of community is the main thing that's helping Bitcoin being strong. So as long as the community will support it, this coin will keep growing in value over time. The day will come when one Bitcoin will be worth more than $1 million and then the ones who didn't bought it already will regret badly.

Community is always important but still exists at the bottom because financial freedom and decentralization are two of the most important features that always stay at the top of this list about Bitcoin strength. After having good adoption, now things are getting on a new level because many big investors are having good confidence, and they are entering into the community with their huge funds.
Price could never be on a stable level because it's always keeping moving, and volatility is always staying with this due to its nature. Keeping things on balance is easy but still always needs to have you manage your entire portfolio with strategy because it's risky, and people who do not have a good understanding of risk management can face problems during panic selling.

There are many reasons behind the high acceptance of bitcoin. Depending on what a person likes about bitcoin, bitcoin becomes preferable to him. He trades or invests in bitcoin in a way that suits him. And those who find bitcoin acceptable become part of the bitcoin community. Here, it is not a matter of first joining the community and later gaining trust in bitcoin rather if someone is interested in bitcoin, he becomes part of the bitcoin community. Now how a person will invest which way to follow, what his future thoughts are about bitcoin, such things depend on the overall condition of that person. However if someone wants to get any profit through bitcoin or expects any achievement in the future then that person's way would be to hold bitcoin with a long term mindset. Those who have done short term trading in bitcoin have been the most affected. And those who have once become interested in bitcoin their mindset has become bitcoin centric. There are very few people who after becoming interested in bitcoin have felt bad about some aspect of bitcoin and have lost interest in bitcoin.

[Loyang]

The main reason why Bitcoin is strong is the community because it's community always supported it and they'll always support it. Although, it has many technical advantages as well but in my eyes the support of community is the main thing that's helping Bitcoin being strong. So as long as the community will support it, this coin will keep growing in value over time. The day will come when one Bitcoin will be worth more than $1 million and then the ones who didn't bought it already will regret badly.

Community is always important but still exists at the bottom because financial freedom and decentralization are two of the most important features that always stay at the top of this list about Bitcoin strength.

Community matters, sure, but people support Bitcoin because they stand to benefit from it too. If Bitcoin didn't offer returns, financial freedom, privacy, or whatever else people need from it, there'd be no support for it in the first place.

So at the end of the day ,  it's Bitcoin itself and its core properties, like decentralization and censorship resistance...that give it its value and appeal .

The community  can help Bitcoin grow, but it's not the only thing behind Bitcoin's strength, and it's not a guarantee of future price appreciation .

A wise man never goes to anyone, but everyone comes to a wise man, the same is true of Bitcoin. Because Bitcoin has given us such advantages and freedom, due to which every person is forced to be attracted towards Bitcoin and is investing. The problems that we faced for conventional currencies have been solved, for Bitcoin. Like bank corruption, fast international transactions, protecting ourselves from inflation, financial freedom, etc., everything is given to us by Bitcoin.

For all these reasons, everyone is attracted towards Bitcoin and is investing in Bitcoin. If Bitcoin is not promoted online, then surely one day Bitcoin will spread all over the world, for these advantages.

[alastantiger]

You're right about decentralization, but it can't be the only factor that strengthens Bitcoin, it also gains value overtime which is why many people adopt it, so that factor can't be overlooked, which is why yoi should also acknowledge the fixed supply and demand/supply dynamics. Decentralization makes Bitcoin unique and secure from the control of any government or entity but scarcity and demand contributes to it's value so you can't talk about decentralization and disregard that.

it is Bitcoin decentralization that kept Bitcoin up until today because if it was centralized then the government would have found a way to make sure they kill it, they do not like Bitcoin hence Bitcoin decentralization can be classified as the reason that made Bitcoin very strong. Other factors are adding to why Bitcoin is sromg but without it being a decentralized cryptocurrency then it would have not had any identity.

Bitcoin price would have been manipulated to not go up if it was not decentralized and Bitcoin would have been destroyed if there was a way for that to happen. Bitcoin is popular because no government was able to stop it from exiting. Bitcoin adoption is delaying because the government has big control on what is being adopted and that is the reason why Bitcoin would have not survived if it was not decentralized.

[Princeemmanuel070]

BTC is strong because it breaks the rule when it comes to cross border payment, it's the fastest and easiest way to move assets without being flagged or paying unnecessary fees and waiting for 3 days for confirmation. Gov might not admit it, but they use it even more than we do, and since it is useful to them, it will stay for as long as Gold and the likes. The structural and the price action of BTC is for the minority, the real deal happens behind closed doors, and tbh IMO, at some point BTC will be more valuable than gold.

[Yamifoud]

People think that Bitcoin is not important, and they are wrong because it does some valuable things.

- Financial Freedom—We can do whatever we want without paying taxes.
- Investment opportunity—creating wealth for traders and investors
- Ownership and control—our keys, our coin.

The demand continues because people see the bright future of Bitcoin. Not just creating profit, but financial development. That is why banks feel threatened by this.

[Apex_1]

Its because Bitcoin is fixed and predictable supply where it has a strict and unchangeable limit of only 21 million Bitcoin will ever be in existence in the crypto space, unlike traditional paper money that the central bank has the authority to print more money whenever they decide the economy need a boost or they intend to pay off government debt. Which is where Bitcoin strength is driven from because only 21 million can ever exist in the entire globe and it can not be inflated by the central bank or either government policy, rather Bitcoin relies entirely on immutable computer code run across a global network.

[leonair]

Bitcoin is so strong because it has given people that knowledge of financial freedom, considering that you’ve been buying and investing in bitcoin there is an opportunity that it gives you financial freedom in a long time, when you have made profits as well, also in terms of decentralization of bitcoin is something that is also very important because it has made bitcoin special when you have control over your bitcoin assets, you have control over your bitcoin for the short and long term investment, which is why there is an enablement for a long term investment when you stay consistent, nobody have control over your bitcoin and also scarcity is something that have also made bitcoin special and unique.

Financial freedom is one thing that attracts people to Bitcoin. In the financial system that exists all over the world, people do not get their freedom. If you keep your hard-earned money in a bank or invest it somewhere, you cannot immediately withdraw it. There is no guarantee that you will not be able to get it immediately in case of an emergency. Again, when you deposit a large amount of money, you have to be responsible for it, and when you withdraw it, you also have to be responsible for it. The amount of responsibility you have to take for your hard-earned money is gradually moving people away from the traditional financial system. And it is attracting people to Bitcoin because it is as easy to invest money here as it is to cash it out at any time, and no matter how big the amount is, there is no responsibility and your money is completely under your control.

[Achalugo BTC]

People think that Bitcoin is not important, and they are wrong because it does some valuable things.

- Financial Freedom—We can do whatever we want without paying taxes.
- Investment opportunity—creating wealth for traders and investors
- Ownership and control—our keys, our coin.

The demand continues because people see the bright future of Bitcoin. Not just creating profit, but financial development. That is why banks feel threatened by this.

Exactly. Everything you said is correct, the financial freedom that Bitcoin offers make more people interested in adopting it as an investment. Having control over one's funds makes it even more appealing, as individual can decide how they want to manage and use their money. These three reasons you  encourage people to keep coming back to Bitcoin because as they see its potential future, even though they are aware of its ups and downs and understand that volatility is part of its nature.

[Fabri-Cate]

When I first learned about Bitcoin, one thing that struck me as very interesting was the opportunity to verify the account of every transaction in front of everyone. Previously, I thought that sending money always required the help of a bank or institution. But when I learned about Bitcoin, I saw the matter a little differently in the case of Bitcoin. However, while understanding its use, I also learned that you have to take care of the security of your own wallet.

If you send money to the wrong address or lose the secret key, it cannot be recovered. I am still learning a lot myself, and I am also trying to learn from the experiences of others.

[Oshio-man]

The biggest strength of Bitcoin is its decentralized system as well as its limited supply what can't exceed a limit of 21M coins. Moreover users can individually control their funds without depending on bank or others.

I think so because that is the reason many countries are accepting bitcoin, bitcoin is not control by the government and it has created a lot of opportunities for those that know how to use it positively to achieve what they want, country like El Salvador and other countries that made bitcoin legal tender in their countries, they are enjoying the benefits of bitcoin that is attracting other countries to approach bitcoin and make it legal tender, we all know that government have power over everything in the country but till now they don't have power to control the price of bitcoin and bitcoin is still spreading all over the world for some countries to use it to eliminate delay in transaction and other things in the land.

[Tony Adams]

The price of Bitcoin is important, but Bitcoin's long-term story is not just the price chart.
Maybe the biggest question in the next few years will not be how much Bitcoin will go to, but rather -What will people actually use Bitcoin for?

Due to inflation and the devaluation of fiat currencies, Bitcoin is expected to become the most preferred digital currency in the next few years. The value of Bitcoin depends on how useful it will be in people's daily lives in the future and how much people will use it. In the next few years, we will see Bitcoin become one of the most reliable crypto currencies in the world, we can already see large institutions and companies investing in Bitcoin. However, we think that in the future, people will use Bitcoin in such a way that it will not only make retail transactions but will also be used for large international trade and wealth preservation. We already know that many people send remittances through Bitcoin, and many people hold Bitcoin for the long term instead of keeping money in the bank.

[Nalain420]

People think that Bitcoin is not important, and they are wrong because it does some valuable things.

- Financial Freedom—We can do whatever we want without paying taxes.
- Investment opportunity—creating wealth for traders and investors
- Ownership and control—our keys, our coin.

The demand continues because people see the bright future of Bitcoin. Not just creating profit, but financial development. That is why banks feel threatened by this.

It's true Bitcoin offers some of the important benefits especially when it comes to control finance and ownership. But it's wrong saying that we can do whatever we want without paying taxes. Usage of Bitcoin doesn't automatically remove our taxes responsibility. And the most important point is that investment opportunities don't always make us profit. Bitcoin created a lot of opportunities but it comes with risk and not everyone who invested in Bitcoin makes profit. And also banks are not threatened by Bitcoin in all situations. Some may see as competition and some wants to figure a way out to work with it. So Bitcoin value should be judge by what it is offering rather than seeing it as a thread.

[Abuobyda218]

On the other hand, Bitcoin is strong for several reasons, the main reasons are-

1. Fixed supply.
2. Demand is greater than supply.
3. Control over your own assets.
4. Institutional acceptance.

There is an important saying in economics where it is said that the more the supply, the less the demand. And the less the demand, the lower the price of that product. If we apply this to Bitcoin, then we have to say that the supply of Bitcoin is absolutely fixed at twenty-one million where there is no opportunity to increase this supply. But the curiosity and interest that is constantly being created among people towards Bitcoin, that is, the demand is being created, so the supply is gradually being divided among many people. As a result, due to the fixed supply of Bitcoin, it is now becoming an important valuable asset in the world. Moreover, it is also being added to the strategic reserves of various countries and large institutions are also adding to their strategic reserves. The amount of Bitcoin that all these institutions are adding is reducing the total supply of Bitcoin. This also works as an important issue to strengthen Bitcoin.

Moreover, another important point is that if you deposit your money in the bank, then in that case it will be seen that you have lost control over your money, but if you deposit your wealth in Bitcoin, then you will be able to control it yourself. Your wealth will be in your control and no third party will be able to control your Bitcoin, so this is an important reason for strengthening Bitcoin.