What do people think about crypto?

This week DavinciJ15 twitter reached 10k and to reward the number of followers, we launched the following contest.

If you want to win a hardware wallet; Ledger or Trezor, answer the following question:

Why should someone buy bitcoin to save for the future?

In just minutes, hundreds of people began to respond. In general, all the answers were very interesting, but some answers were constantly repeated.

These are some of the answers:

For the most part, people believe in the financial freedom that Bitcoin provides; having a critical point of view towards governments and banks when it comes to fiat regulations. On the other hand, there are those who believe bitcoin is the only way to make enough profit for future savings.

Why are people investing in cryptocurrencies?

I’ve always wondered if people decide to invest in crypto because of the idea behind it; eliminating third-party interference with a Blockchain that provides a system where data can’t be tampered with. Or are the reasons similar to Davinci Jeremie who at first believed crypto was a scam, but as a developer, once he read the code behind digital currency he was convinced that this was a revolutionary idea and immediately began investing.

Bitcoin has slowly gained a spot on the financial system, and everyday people are talking more and more about it. For people who are No Coiner's hearing about crypto skyrocketing makes people think "ok this thing actually works," and although the majority wasn't lucky enough to buy crypto at USD 1.00, many still believe it is the right time. In addition to this, the news of crypto millionaires. The 2017 crypto craze made many millions worth of profit; allegations of new millionaires were all over the crypto space.

“This rise to fame was sparked by a meteoric surge in the price of bitcoin: in December 2017, the digital currency hit an all-time high of nearly $20,000 (€17,116), having climbed more than 1,900 percent in just under a year.”

“Although the price has now more than halved from its peak, the culture surrounding crypto assets has only grown more prominent in the public eye. The new crypto millionaires appear to be young, male, and flashy. Rich tech entrepreneurs are gallivanting on yachts in Monte Carlo, celebrating their wealth by ordering bottles of vodka worth tens of thousands of euros.”

I asked DavinciJ15 the question he asked his followers:

Why should someone buy bitcoin to save for the future?

"I have always thought that the financial system was fair, and when I found out it wasn't, I wanted to make it fair. I realized the government wasn't interested in making it fair; the only way to make it fair is by people choosing to do so. Now we have a choice; not only a choice to make our financial system fair but we can also profit from it in the long run. It doesn't matter if you buy now or in the future; you will profit from buying Bitcoins and save for your future."

When did you decide to dedicate yourself to investing crypto?

"When I first saw it at USD 1.00; I decided I wanted to invest in this product. I wasn't 100% dedicated because at the time I was dedicated to investing in gold and silver, but over time, I've moved over to the crypto space. Now we have a method of money where we can transfer instantly across the world without anyone blocking it. If I were to send some gold across the world I would have to worry about my gold getting stolen by the mail provider, the government stealing it, and with Bitcoin, there is no one in-between that can steal it."

I believe there are no right or wrong reasons for getting into crypto, and the truth is that it has changed the life of many and it has definitely gained a spot in the market.

Hope you enjoyed it, feel free to comment!!

By: Carolina Pérez

Twitter: @carolinaninap