Quote from: $crypto$ on February 09, 2023, 05:33:25 PM

Quote from: nurilham on February 08, 2023, 08:49:46 PM

Quote from: CryptoBuds on February 08, 2023, 07:44:01 AM

Those who are holding bitcoins for a long time, saying that they invest and hold bitcoins for the sake of technology are the ones who are trying to lie. I'm pretty sure the majority of people hold bitcoins for the money and not for the second reason. If bitcoin were not profitable but only used as a payment method, I'm sure bitcoin wouldn't be as popular as it is today.

Indeed. The main reason why people hold Bitcoin should be its profits. If Bitcoin isn't a profitable asset, surely people won't hold it because people have no advantage for its future. Specifically, people are trying to hold Bitcoin for the long term, it is because Bitcoin potentially multiplies its price significantly in the future. So, people seem to not hold Bitcoin for the long term if Bitcoin is only used as a digital currency without the potential profits.

Because looking at the history of how bitcoin has increased dramatically, imagine bitcoin from starting at $1 to reaching $69k as ATH before, how can people not be tempted by this, their thinking of holding bitcoin is clear they want even bigger profits in the future, let alone waiting after their halving, of course always calling it will reach new ATH again.
Not only in technology or usability but in terms of return many people are going there, my own example is how to hold bitcoin long term so it's clear that it is for the next bull run.

That's right, I remember being first introduced to bitcoin and being fascinated by its volatility, I had little interest in the technology or other utilities. Now that I know more about bitcoin, I like its decentralization, but still I don't want to lie that profit is still what I care about most.
I think if my friend just introduced bitcoin and just talked about the technology and its features without mentioning the volatility and profit it brings, I definitely wouldn't be in the market at that time.