Why do you believe in the power of Bitcoin?
Hello. I have a question like in the title. Why do you believe in the power and future of Bitcoin? Do you think it will keep the form it is now in the future? Do you have concerns that the regulatory authorities will start to regulate it or, even worse, completely ban it, and your investments will be lost? Share your opinion because I am very curious about your opinion. Thanks
Hello. I have a question like in the title. Why do you believe in the power and future of Bitcoin? Do you think it will keep the form it is now in the future? Do you have concerns that the regulatory authorities will start to regulate it or, even worse, completely ban it, and your investments will be lost? Share your opinion because I am very curious about your opinion. Thanks
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3 answers
Speculators want to make extraordinary profits with it. From its beginnings, Bitcoin has grown from cents to as much as $69,000 in just 13 years. No asset known to us has brought such a rate of return to its holders in recent years.
The investor sees Bitcoin as a valuable asset and a way to save the value of money in the long term. Thanks to the algorithm stored in the blockchain, it is not possible to print more Bitcoins (maximum 21 million BTC), and the pace of their extraction decreases on average every 4 years. Some of them are lost, e.g. by forgetting the password to the wallet or the death of the owner. These factors mean that BTC has a chance to become a "scarce commodity", and thus desirable, which will probably translate into an increase in its value.
The man from the proverbial street does not know much about cryptocurrencies. He probably heard the name Bitcoin, maybe he can even say one sentence about it, but he knows almost nothing about other cryptocurrencies. In this way, BTC is for him the only representative or symbol of this market. And the more people talk or write about it, the bigger the group of people who have already heard something about it and can pass this information on.
Finally, for those interested in new technologies, Bitcoin is a revolution the world has never seen before. The concept on which it is based is actually simple, and the number of possible applications is huge. Of course, I am referring to blockchain technology here, because in fact, cryptocurrencies are its successor. Bitcoin or altcoins may cease to exist, and blockchain will stay with us, because it is too useful to give up such an innovation. However, it can be assumed that BTC will stay with us for a while.
In the near future, regulations will certainly take place, and delegalization not necessarily, although in the history of cryptocurrencies - although short - there have been such cases.
At the moment, cryptocurrencies are banned, among others in China, Algeria, Bolivia, Nepal, and many countries are working to regulate this market. In India, there has been much talk about possible bans for some time, but in recent months the rhetoric has shifted and politicians are leaning more towards sensible regulation.
Russia also threatened to ban crypto, but has already withdrawn from it.
One gets the impression that individual countries here rather play with a cryptocurrency card when it suits them, but at the same time they realize that they cannot be completely banned because this market is too decentralized. Even the Chinese have reportedly found ways to continue trading cryptocurrencies, so anyone with a bit of desire would be able to do it, and individual countries would not gain anything from such a ban.
In any case, it is up to us to decide whether this game is worth the candle and how much of our funds to invest. In case of problems, no one will help us anyway, but who knows, maybe in a few years Bitcoin will actually cost hundreds of thousands of dollars? In my opinion, it's better to lose a few thousand than to regret that you missed such an investment opportunity.
Speculators want to make extraordinary profits with it. From its beginnings, Bitcoin has grown from cents to as much as $69,000 in just 13 years. No asset known to us has brought such a rate of return to its holders in recent years.
The investor sees Bitcoin as a valuable asset and a way to save the value of money in the long term. Thanks to the algorithm stored in the blockchain, it is not possible to print more Bitcoins (maximum 21 million BTC), and the pace of their extraction decreases on average every 4 years. Some of them are lost, e.g. by forgetting the password to the wallet or the death of the owner. These factors mean that BTC has a chance to become a "scarce commodity", and thus desirable, which will probably translate into an increase in its value.
The man from the proverbial street does not know much about cryptocurrencies. He probably heard the name Bitcoin, maybe he can even say one sentence about it, but he knows almost nothing about other cryptocurrencies. In this way, BTC is for him the only representative or symbol of this market. And the more people talk or write about it, the bigger the group of people who have already heard something about it and can pass this information on.
Finally, for those interested in new technologies, Bitcoin is a revolution the world has never seen before. The concept on which it is based is actually simple, and the number of possible applications is huge. Of course, I am referring to blockchain technology here, because in fact, cryptocurrencies are its successor. Bitcoin or altcoins may cease to exist, and blockchain will stay with us, because it is too useful to give up such an innovation. However, it can be assumed that BTC will stay with us for a while.
In the near future, regulations will certainly take place, and delegalization not necessarily, although in the history of cryptocurrencies - although short - there have been such cases.
At the moment, cryptocurrencies are banned, among others in China, Algeria, Bolivia, Nepal, and many countries are working to regulate this market. In India, there has been much talk about possible bans for some time, but in recent months the rhetoric has shifted and politicians are leaning more towards sensible regulation.
Russia also threatened to ban crypto, but has already withdrawn from it.
One gets the impression that individual countries here rather play with a cryptocurrency card when it suits them, but at the same time they realize that they cannot be completely banned because this market is too decentralized. Even the Chinese have reportedly found ways to continue trading cryptocurrencies, so anyone with a bit of desire would be able to do it, and individual countries would not gain anything from such a ban.
In any case, it is up to us to decide whether this game is worth the candle and how much of our funds to invest. In case of problems, no one will help us anyway, but who knows, maybe in a few years Bitcoin will actually cost hundreds of thousands of dollars? In my opinion, it's better to lose a few thousand than to regret that you missed such an investment opportunity.
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Yes, I believe in Bitcoin. Bitcoin has a long way to go. It turned out to be very volatile. This is the nature of the free market, which we don't see very often in this day and age of federation and money printing. Bitcoin, however, needs some time to develop. I mean, if you ask 10 random people on the street about Bitcoin, how many of them will know what it is and how it works? As long as more than half of the world's people are ignorant of bitcoin, there will still be plenty of money to be made in short-term trading.
In addition to believing in bitcoin, I also believe in the technology on which it is based, i.e. blockchain. I remember the times when no one knew anything about it, and today it is used by central banks, startups, etc. etc. I believe in all this because I believe that the world is able to adapt to the latest technologies.
Yes, I believe in Bitcoin. Bitcoin has a long way to go. It turned out to be very volatile. This is the nature of the free market, which we don't see very often in this day and age of federation and money printing. Bitcoin, however, needs some time to develop. I mean, if you ask 10 random people on the street about Bitcoin, how many of them will know what it is and how it works? As long as more than half of the world's people are ignorant of bitcoin, there will still be plenty of money to be made in short-term trading.
In addition to believing in bitcoin, I also believe in the technology on which it is based, i.e. blockchain. I remember the times when no one knew anything about it, and today it is used by central banks, startups, etc. etc. I believe in all this because I believe that the world is able to adapt to the latest technologies.
Machine translated
Machine translated