Why people are still buying Bitcoin?

[yousufatik]

Hello guys,

To me, it seems pretty strange that people actually continues buying btc now...
I understood why they wanted to invest in btc before, after the Chyprus crisis, and all the articles in the media. But now?

I don't get it.

Bitcoin is useless, and will most likely never be used as a currency. I spent hours trying to get my first bitcoins (satoshi actually), and after working for ages, I only got 0.002 btc, which does not even allow me to proceed to a transaction (the fees are higherthan that amount  Roll Eyes ). When you compare it with CC or paypal, it seems that they are free to use in comparison! Not to mention the time required to actually proceed to a transaction which can be anything between 1 minute and ... 1 year (or more?).

The only possible reason I see people are buying btc is that they (truly) believe that the price will increase, and want to make more profit. I think that 99.99 % of the bitcoins exchanged are never withdrawn from the exchangers, and the people are only waiting to make some profits. What makes them believe that the price will rise? Because the amount of bitcoins is limited? Because lost coins can never be recovered? I have no clue.

An other problem is the "mining" part. Soon, the difficulty will increase, CPU and GPU mining will be useless. People will stop mining bitcoins and try LTC or something easy to get... The interest in btc will decrease.

[Jetski]

I agree that many of the investors today are started buying bitcoins because the bull market is now approaching and many people thinks that the market will rapidly increase so holding is the best strategy that we can do to earn big profit.

[jonathancool220]

Those who buy Bitcoin certainly know their future.
They always think positively about the price of Bitcoin in the future, because now the market is Bearish then you ask like that.

[Elaine99M]

I think that many people are still taking risks of investing on bitcoin due to the big amounts or good profits they can get after a year of HODLing. Since bitcoin is known to be volatile always, people believe that their money being invested will be doubled or even trippled after couple of months.

[Niteroy]

There are still quite a lot of people who don’t know anything about Bitcoin, and when they find out about how much he has risen in price since his creation, they want to buy it. Therefore, there are constantly new people who are ready to buy Bitcoin. Crypto enthusiasts who believe in the future of Bitcoin also constantly buy it and change the money they earn into Bitcoin.

[Contagem]

Now I see more advertisements for Bitcoin and cryptocurrencies than a few months ago. Online stores, one after another, introduce a Bitcoin payment method for their goods. All this speaks of the growing interest in Bitcoin. People probably remember last year’s growth of the entire crypto market and expect a repetition of the scenario at the end of this year.

[Quart]

I think it is normal, people buy bitcoin because it is a good coin to invest. The price of bitcoin tends to be stable and even increases. That's the big reason for people to buy more bitcoin. I also suggest people to invest in bitcoin. It is very recommended to invest for long term.

[gribble]

yes indeed there are many people who are starting to buy bitcoins because they know their future. and they always think positively about the price of bitcoin in the future. because now the market will increase quickly so holding is the best strategy we can do to get big profits. because we know bitcoin is known to be always volatile and people believe that their money invested will be multiplied

[Ahmad Arwanj]

of course, someone definitely wants to get satisfactory results now that bitcoin has the potential to increase for the next few months, it's time for traders to buy bitcoin .

[obito uciha]

because everyone wants to get results from the trading, maybe in this way someone fulfills their daily needs, this is some kind of work .

[barrsa]

in my opinion, people still buy bitcoin because they still believe in bitcoin and they know that bitcoin has a good future and will be profitable

[Vins]

bitcoin is a very famous coin and many people are interested and investing in bitcoin so that the price of bitcoin will continue to increase, that's why people keep believing and buying bitcoin for their future investment

[Mut-coin]

I think that many people are still taking risks of investing on bitcoin due to the big amounts or good profits they can get after a year of HODLing.

[twothumbs]

You know what? I think this question was happening when the first time bitcoin introduce, and I think many people underestimate bitcoin and they don't think that bitcoin can get the highest price. But after bitcoin start the journey, you can see that people interested in bitcoin and they willing to buy bitcoin especially when bitcoin is less than $10 and they keep the bitcoin for a long time. And suddenly, in 2017 ago, bitcoin price was exploded, and many people who have bitcoin was making a lot of money.

We believe that bitcoin can increase even more than $20k, but still, no one will know when it's happening. And I guess this is why people keep buying bitcoin right now because they don't want to miss this chance. I think some people still trying to deposit their money and buying more and more bitcoin.

And the mining part, when the difficulty increase, I am sure that the mining hardware company will start to search another new technology that can support the mining so the mining process will continue until the last bitcoin. When the first bitcoin was mine, we can use the old computer to mining bitcoin, but soon, after the difficulty increase, we need to build new hardware that can handle this. And you can search on eBay, Amazon or another store online and you will find Antminer, Scrypt-miner hardware that used for mining.

I am sure that soon, there will be new hardware that can support the mining process and I heard that Bitmain would (or they already) launched the new Antminer hardware. You can visit on their site to know more about this.

[wanggober]

Bitcoin is the parent of digital coins and has a lot of fans so Bitcoin is always in search and in my opinion, people who buy Bitcoin have high confidence in the price of bitcoin that will increase over the next few years and of course that person always thinks positively against Bitcoin