•5 years
Why are people buying bitcoins?
Hey, what's the purpose of people buying bitcoin? Do they just buy them to speculate on them or are there other reasons?
Hey, what's the purpose of people buying bitcoin? Do they just buy them to speculate on them or are there other reasons?
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Many people buy bitcoins because they believe in the blockchain technology they are based on. More and more companies are starting to put technology into use while increasing global adoption.
Many people also invest in Bitcoin for speculative reasons. They just want to make money from swinging courses or with a HODL strategy, in the long term.
I think some people are also investing in bitcoin for less legal purposes such as money laundering etc etc.
I personally believe in blockchain technology and this is the main reason why I keep half of my wallet in cryptocurrencies.
Many people buy bitcoins because they believe in the blockchain technology they are based on. More and more companies are starting to put technology into use while increasing global adoption.
Many people also invest in Bitcoin for speculative reasons. They just want to make money from swinging courses or with a HODL strategy, in the long term.
I think some people are also investing in bitcoin for less legal purposes such as money laundering etc etc.
I personally believe in blockchain technology and this is the main reason why I keep half of my wallet in cryptocurrencies.
Machine translated
Depending on who you ask about it, the answers can be very different. Speculators want to use it to achieve extraordinary profits. 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 its holders such a rate of return 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 (there will be a maximum of 21 million of them), and the mining rate drops on average every 4 years. Some of them get lost, e.g. by forgetting the wallet password 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 doesn't know much about cryptocurrencies. Maybe he has heard the name Bitcoin, or he can 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 larger 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 not seen before. The concept behind it is actually simple and the number of possible applications is enormous. Of course, I mean blockchain technology, because in fact, cryptocurrencies are its corollary. 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. Let's not forget that big players are also entering this market. Some funds, the state of El Salvador, and companies, incl. Microstrategy Michalel Saylor, invested quite a lot of money in the purchase of BTC. The only question is whether the motivations they speak out are actually true. In any case, it is up to us to decide whether this game is worth the candle and how much of your money to invest. In case of problems, no one will help us, but who knows, maybe in a few years Bitcoin will actually cost hundreds of thousands of dollars? In my opinion, it is better to lose a few thousand than to regret having missed such an investment opportunity.
Depending on who you ask about it, the answers can be very different. Speculators want to use it to achieve extraordinary profits. 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 its holders such a rate of return 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 (there will be a maximum of 21 million of them), and the mining rate drops on average every 4 years. Some of them get lost, e.g. by forgetting the wallet password 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 doesn't know much about cryptocurrencies. Maybe he has heard the name Bitcoin, or he can 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 larger 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 not seen before. The concept behind it is actually simple and the number of possible applications is enormous. Of course, I mean blockchain technology, because in fact, cryptocurrencies are its corollary. 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. Let's not forget that big players are also entering this market. Some funds, the state of El Salvador, and companies, incl. Microstrategy Michalel Saylor, invested quite a lot of money in the purchase of BTC. The only question is whether the motivations they speak out are actually true. In any case, it is up to us to decide whether this game is worth the candle and how much of your money to invest. In case of problems, no one will help us, but who knows, maybe in a few years Bitcoin will actually cost hundreds of thousands of dollars? In my opinion, it is better to lose a few thousand than to regret having missed such an investment opportunity.
Machine translated
People buy bitcoins for different reasons. Some invest in them as a form of speculation, hoping for an increase in value and profit. Others see potential in bitcoins as an alternative form of currency that is independent of financial institutions and governments. There are also people who buy bitcoins as a form of savings, wanting to protect themselves from inflation or the depreciation of traditional currencies. Finally, some people see the potential of bitcoins to revolutionize the financial system through blockchain technology, which provides transparency and decentralization. Depending on the investment goal, people decide to buy bitcoin for different motivations.
People buy bitcoins for different reasons. Some invest in them as a form of speculation, hoping for an increase in value and profit. Others see potential in bitcoins as an alternative form of currency that is independent of financial institutions and governments. There are also people who buy bitcoins as a form of savings, wanting to protect themselves from inflation or the depreciation of traditional currencies. Finally, some people see the potential of bitcoins to revolutionize the financial system through blockchain technology, which provides transparency and decentralization. Depending on the investment goal, people decide to buy bitcoin for different motivations.
Machine translated