What are the reasons behind Bitcoin being so strong?

[Bluedrem]

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.

Yes, you are right, no matter how much we claim fiat currency as our own, we really have no control over it, especially when you deposit it in a fiat bank.
But Bitcoin is an asset where you are the only one in control of your Bitcoin. You have a private key, which means that no second or third party is in control of your funds. In real life, many times, from bank robberies to bank failures, banks cannot pay their customers, resulting in huge losses to customers. But those who hold Bitcoin, especially those who hold Bitcoin for the long term, can benefit from Bitcoin.

[Proty]

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.

Bitcoin offers financial freedom that traditional fiat doesn't because there is no third party interference when we have total control over our bitcoin. Another thing is that bitcoin act as hedge against inflation making it to be a good store of value.
 However, I disagree with the idea that holding bitcoin doesn't comes with responsibility. The fact that you have control over your bitcoin means that it's security is your responsibility. To secure your bitcoin you need to store your seed phrase in a place where someone else can't have access to them. Therefore, bitcoin may give financial security but the safety of your bitcoin is your responsibility.

[Yorubek]

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.

Yes, you are right, no matter how much we claim fiat currency as our own, we really have no control over it, especially when you deposit it in a fiat bank.
But Bitcoin is an asset where you are the only one in control of your Bitcoin. You have a private key, which means that no second or third party is in control of your funds. In real life, many times, from bank robberies to bank failures, banks cannot pay their customers, resulting in huge losses to customers. But those who hold Bitcoin, especially those who hold Bitcoin for the long term, can benefit from Bitcoin.

As long as you have fiat money in your hands, you have control over it. When you store fiat money in a bank, your money goes out of your control. No matter how much you call it your money, it is actually out of your control.

Bitcoin is the first to create a completely self-control system over its own asset so that no other person can interfere with your asset. You can store Bitcoin as you wish, exchange it, hold it for a long time, and no one will need to be accountable. Bitcoin has brought people financial freedom. It has created a new system for investing that is completely decentralized and that people can use completely independently. Bitcoin has brought people financial freedom. In addition, there is an opportunity to make money through investment and helps protect against long-term inflation.

[Abiky]

I don't know how this discussion will be received here After some thought, I present here what I found.For some time now I have been thinking about why Bitcoin will be long-lasting and strong. In that case, two things come to mind:
1. Bitcoin will strengthen due to price increases.
2. Bitcoin will strengthen due to Bitcoin's structure.

...

Bitcoin is so strong because of its decentralized and censorship-resistant design. It's sound money with a fixed supply. People are the ones that determine its value. Not a central bank or government. That's Bitcoin's greatest strength. Altcoins don't come nowhere near close, as they're often centralized and unreliable.

The day Bitcoin gets compromised, will be the day its strength will wane. It will be weak, just like Fiat currencies. I sure hope that day never comes. But we can't predict the future, can we?

[Baki202]

Bitcoin offers financial freedom that traditional fiat doesn't because there is no third party interference when we have total control over our bitcoin. Another thing is that bitcoin act as hedge against inflation making it to be a good store of value.
 However, I disagree with the idea that holding bitcoin doesn't comes with responsibility. The fact that you have control over your bitcoin means that it's security is your responsibility. To secure your bitcoin you need to store your seed phrase in a place where someone else can't have access to them. Therefore, bitcoin may give financial security but the safety of your bitcoin is your responsibility.

And in cases like this, you would have made a lot of sacrifices before you could actually be financially free. You have to be disciplined. That is the only way you can achieve that financial freedom, because a lot of people have benefited a lot from Bitcoin, and if you learn what you are supposed to learn, then after all things have been done, security matters a lot because a lot of focus is on the part where they just want to make money, not considering the security of their asset.

Holding Bitcoin is a responsibility because it involves monitoring and also making sure you are not keeping your asset on an exchange, because we all saw what happened with Binance. Even if the exchange has backup funds, even at that we should take the security of our coin seriously, especially from hackers and scams and we must adopt the act of privacy. And Bitcoin, to me, is a responsibility.

[Just Say]

Yes, you are right, no matter how much we claim fiat currency as our own, we really have no control over it, especially when you deposit it in a fiat bank.
But Bitcoin is an asset where you are the only one in control of your Bitcoin. You have a private key, which means that no second or third party is in control of your funds. In real life, many times, from bank robberies to bank failures, banks cannot pay their customers, resulting in huge losses to customers. But those who hold Bitcoin, especially those who hold Bitcoin for the long term, can benefit from Bitcoin.

Bitcoin offers a freedom that traditional currencies do not, as an example you may notice that, fiat currency is controlled by a country's government or central bank but we know that Bitcoin is a decentralized system that no government or bank can control. Without a doubt you are right many times banks are unable to pay their customers due to bank robberies, just like if you invest in bitcoins and foolishly leave them in centralized exchanges (like Binance and Bitget) then there is a possibility of hacking. Maybe everyone knows it Bitcoin cannot be controlled by any third party and is operated based on Peer to Peer technology, I feel that this currency should be stored in self custody which will keep Bitcoin holdings the most secure.

[Bluedrem]

Bitcoin offers a freedom that traditional currencies do not, as an example you may notice that, fiat currency is controlled by a country's government or central bank but we know that Bitcoin is a decentralized system that no government or bank can control. Without a doubt you are right many times banks are unable to pay their customers due to bank robberies, just like if you invest in bitcoins and foolishly leave them in centralized exchanges (like Binance and Bitget) then there is a possibility of hacking. Maybe everyone knows it Bitcoin cannot be controlled by any third party and is operated based on Peer to Peer technology, I feel that this currency should be stored in self custody which will keep Bitcoin holdings the most secure.

One of the main reasons for the high acceptance of Bitcoin is the financial freedom created by its decentralization. When a person invests in Bitcoin, he gains financial freedom, that is, no one else can interfere with his assets at that moment, as the government can do with other currencies, including fiat.
However, in the case of what you said about the security of Bitcoin, when a Bitcoin investor keeps their Bitcoin portfolio in a safe place for a long time, they will certainly not need to keep them in a centralized exchange. I have seen that those who hold Bitcoin and maintain Bitcoin with a long-term plan always think of storing Bitcoin in self-custody, in which case they create a wallet and store the phase. This is considered a safe method to me.

[danadc]

Holding Bitcoin is a responsibility because it involves monitoring and also making sure you are not keeping your asset on an exchange, because we all saw what happened with Binance. Even if the exchange has backup funds, even at that we should take the security of our coin seriously, especially from hackers and scams and we must adopt the act of privacy. And Bitcoin, to me, is a responsibility.

I agree with you when you say it's a responsibility, that you have to know how to handle it. I know all investments are important, but Bitcoin is the easiest option for anyone to acquire, and it's so easy to obtain, manage, monitor its movements, buy preferably during dips, and plan to wait 5 or 6 years to see how things go while you're buying.The risks of Bitcoin are what everyone sees, but few see the future it represents and the advanced technology it possesses. It has far more good qualities than bad, and since we live in a world of envy and toxicity, there will always be someone who speaks ill of Bitcoin.

[SPIDERMAN008]

Bitcoin offers a freedom that traditional currencies do not, as an example you may notice that, fiat currency is controlled by a country's government or central bank but we know that Bitcoin is a decentralized system that no government or bank can control. Without a doubt you are right many times banks are unable to pay their customers due to bank robberies, just like if you invest in bitcoins and foolishly leave them in centralized exchanges (like Binance and Bitget) then there is a possibility of hacking. Maybe everyone knows it Bitcoin cannot be controlled by any third party and is operated based on Peer to Peer technology, I feel that this currency should be stored in self custody which will keep Bitcoin holdings the most secure.

One of the main reasons for the high acceptance of Bitcoin is the financial freedom created by its decentralization. When a person invests in Bitcoin, he gains financial freedom, that is, no one else can interfere with his assets at that moment, as the government can do with other currencies, including fiat.
However, in the case of what you said about the security of Bitcoin, when a Bitcoin investor keeps their Bitcoin portfolio in a safe place for a long time, they will certainly not need to keep them in a centralized exchange. I have seen that those who hold Bitcoin and maintain Bitcoin with a long-term plan always think of storing Bitcoin in self-custody, in which case they create a wallet and store the phase. This is considered a safe method to me.

That is why it is said that hodl bitcoin means becoming your own bank. Where you can be considered as the complete controller of your own wealth by adopting a fixed set of rules. You think about any other asset it may be fiat currency or any other asset they physically exist. There no other person has some control over it. Even if a person wants to he can never completely control such an asset where only he has his own dominance and no one else has any control.

For example even if you buy land or build an apartment you have to pay tax there. The government has kept its controlling power here for own benefit. Although money is used for the development of the country through tax we also have to consider how much tax money is used. And if someone holds gold then its security must also be ensured. And gold cannot be transacted very easily. And when it comes to profit bitcoin has given much more profit than gold if held for a long time. These things really prove that bitcoin is a truly decentralized digital currency where no one has any control. You can invest ,trade and transact independently.