Why do people buy bitcoin

Oscar W Tech Savvy. We base this in turn on the assumption that for something to be used as a store of value it needs to have some intrinsic value, and if Bitcoin does not achieve success as a medium of exchange, it will have no practical utility and thus no intrinsic value and won’t be appealing as a store of value. With the scaling solutions like Lightning Network, Bitcoin could be the first-ever store of value that is immune to inflation and also services a true peer-to-peer digital cash. Buy Bitcoin Worldwide is for educational purposes only. Every visitor to Buy Bitcoin Worldwide should consult a professional financial advisor before engaging in such practices. Disclaimer: Buy Bitcoin Worldwide is not offering, promoting, or encouraging the purchase, sale, or trade of any security or commodity. It will allow very cheap and instantaneous transactions.

A Brief History of Money

Investing in cryptocurrencies and Initial Coin Offerings «ICOs» is highly risky and speculative, and this article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies or ICOs. Since each individual’s situation is unique, a qualified professional should always be consulted before making any financial decisions. Investopedia makes no representations or warranties as to the accuracy or timeliness of the information peopke. As of the why do people buy bitcoin this article was written, the author owns no cryptocurrencies. On Feb. It may seem hard to believe that a digital currency could be worth thousands of dollars. After all, unlike physical currency, like precious metals or printed money, bitcoin is just lines of code.

Why Invest in Bitcoin?

Follow us on Twitter or join our Telegram. Every discussion about Bitcoin sooner or later leads to a wrangle over what gives Bitcoin value. Skeptics claim it has no value whatsoever, while believers see it as digital gold with nearly infinite potential. So who is right and what actually makes single Bitcoin valuable? There are several attributes to consider. A brief look at the history of money reveals that as long as people agreed that specific thing had value, then it did.

Why Bitcoin is Gaining Traction

I myself are a altcoin longterm holder, so not going against altcoins here just want to hear your reason for investing altcoin instead of just holding Bitcoin.

I like to think of myself and have proven myself wrong many times over in crypto as mathematical and analytical of trends. You start reading the whitepaper or reddit and easily imagine that altcoin taking peop,e in the market cap. We just want to have a pint with the fuckers from Apollo 11 but learning the hard way.

Because I am greedy. No really I buy altcoins because I believe in what these new coins may do in the future, just like the internet we had improvements and new competitors in the market. This stuff is early and we have no idea really what things will look like when we start seeing adoption, at the moment all these altcoins are based on potential. Other than the mass amounts of money you can make, I generally love blockchain technology.

Being able to invest in something that can change the future for the better is really satisfying to me. I presume that a lot of us are using alt coins to get more than one BTC. Good thing diversification exists because I have Bitcoin plus buj really solid alt coins. I always bring up AOL. Now they did some marketing for fucking sure. I was too young before to make any money and if I was any younger now would probably let this shit pass me by.

Cheers pub! I think a lot of people that favour alts over BTC think the greater multiples of gains are to be made in alts. Often these are people that did not get onto the crypto train early enough to now be buying Lambos with Bitcoins that initially cost as much as it would for a Huyndai day lease. Which do people really feel is more likely? ANd then people will rationalise on the speed, utility, applications of alts over the rather…slow, one dimensional and politically troubled grandaddy coin.

In conclusion, supporters involved with the four forks arguing above are all stuck in the past. None of the forks represents a solution that will allow bitcoin to be usable for anything other than speculation. The cryptocurrency industry has already moved on and it has a solution to the bitcoln problem. This situation itself shows that when a blockchain becomes full, more coins arise to fulfill the demand.

Smart users have long left Bitcoin and are using networks like litecoin to process their transactions much more quickly and cheaply.

Let the Bitcoin developers fight it out to the death. While they rip each other to shreds over their principles, the world is moving on without. The reason why my money is not invested in bitcoin right now is pretty simple. Now, ask the same question.

Which is more likely? It will and should be outpaced by those alts that, as the writer above says, have already solved the problems BTC has and can do other stuff. Also, note the arguments for litecoin. A few people are going to realize it is an empty highway and use it. That said I would still start with bitcoin. I invest in alt coins peopls they are in fact superior to Bitcoin.

With far more utility and far less of a price, I see it rising exponentially. They are solid projects with amazing teams. These coins are better than their peers and yet have very low valuations. I nitcoin believe BTC will end up being the gold of the digital age.

Edit: didnt see how old this thread. I have a theory that it might be because a majority of people new to cryptos due to recent exposure are only really aware of those three at first, so money is switched between them during volatility. Overall, it seems to moderate losses and gains, because e. Perhaps a bit of a conservation of energy thing going on— money is neither made nor lost, it merely changes cryptocurrency.

Here is a question that I love bitcin ask altcoin longterm holders… Why do you buy altcoin pepple holding Bitcoin? Stevo October 13,am 2. The fear of missing out why do people buy bitcoin definitely one of the reason that I am in altcoins.

Because I am greedy No really I buy altcoins because I believe in what bitxoin new coins may do in the future, just like the internet we had improvements and new competitors in the market. Me to man I have a altcoin addiction, like right now with Iota. Genesis October 13,am 6.

Stevo October 13,am 7. GarethDavies October 13,am 8. The same writer echoes the thoughts of many alts investors too: The reason why my money is not invested in bitcoin right now is pretty simple. Stevo October 13,am 9. Like most of us here at The Bitcoin Pub i guess. GarethDavies October 13,am Lambos are the new GPUs.

Long October 17,am If governments want to stop bitcoin, and have some secret weapon like a quantum supercomputer, then it is less likely they can break all cryptos all at once because different coins have different encryption methods Pfople, note the arguments for litecoin. CraigMak October 17,am Thanks you guys. Eldruppen December 21,pm JonRD December 21,pm

Why Bitcoins Have Value

Central banks are reluctant to raise interest rates because they know if they were to raise interest biycoin, the economy would implode. Every week! You can also have your bank accounts pfople at bu time for whatever reason. It is no surprise that Bitcoin, a secure, global, and digital currency has claimed the interest of investors. ReactJS Developer. Bitcoin has exhibited characteristics bitcoim a bubble with drastic price why do people buy bitcoin and a craze of media attention. The difficulty of buying bitcoins depends on your country. Why Bitcoin is Gaining Traction The world is becoming ever more reliant on the internet. Many governments and societies have found that fiat currency is the most durable and least likely to be susceptible to deterioration or loss of value over time. Bitcoins can dl sent from anywhere in the world to anywhere else in the world. It is for general knowledge purposes. One of the biggest selling points of Bitcoin has bitconi its use of blockchain technology. Oscar W Apr Another view on this though would be that velocity of money is not restricted by today’s payment rails in any significant way and that its main determinant is the need or willingness of people to transact. Some types of currencies rely on the fact that they are «representative,» meaning that each coin or note can be directly exchanged for a specified amount of a commodity. Stock to flow ratio is partly the reason why gold historically has been a fantastic store of value with about 2 percent of new creation every year. Buy Bitcoin Worldwide, nor any of its owners, employees or agents, are licensed broker-dealers, investment advisors, or hold any relevant distinction or title with respect to investing.