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Here are some tips on why I invested in Bitcoin.
1. Bitcoin is an asset: Bitcoin is an asset because it can grow from the point of purchase, especially when taken advantage of markets that are falling in orife or have fallen in price to purchase as well as rise in price to sell. With Bitcoin, you can start small and grow big.
2. Investors like bitcoin because it's different from the traditional financial system that's controlled and regulated by the government of such a country. With bitcoin and crypto in general, transactions are outside the control of anyone, entity, organization, or person.
3. Transaction is fast; bitcoin gives every user the luxury or pleasure of speed in transactions. Hence, network hiccups are almost eliminated when transacting with bitcoin.
4. In the crypto world, bitcoin is the most dominant with a proven track record of growth, stability, and security, and it boasts of high liquidity compared to other cryptocurrencies.
1. I can't blame you if you see Bitcoin as an asset, and not a currency because many people sees Bitcoin only as an asset. This is the problem right now. Bitcoin is being promoted as an asset where in fact, it has been created as a currency, so we can use it to pay something without the use of any third party. Well, I guess the fact that Bitcoin's transaction speed is slow change our perspective towards the use-case of it.
2. Well, the government can't control something that they didn't create at first place, but they're starting to regulate it though.
3. Transaction is fast? If you are talking about Lightning Network then yes it is fast, but if you are talking about the standard transaction, then I guess you're wrong. 10 minutes transaction? Is it fast for you already?
4. Bitcoin's past performance isn't mean that it will happen in the future as well. Yes I've seen market cycles happened in the crypto market, but I've always getting myself ready just in case that cycle will be broken, and we might see either the bull market or bear market last longer than the usual that we are seeing.