Topic: Are we hodling BTC or we are hodling Fiat?? (Read 705 times)
For now these 2 things are hard to separate, for daily transactions of course we still depend on fiat, until now I have not been able to use cryptocurrencies for direct transactions, and bitcoin is an asset that will continue to increase so it is worth holding on for long-term investments.
With cryptocurrency if we start watching charts and making trade plans we need to follow it. If not we should have the target selling and buying price. With this pattern it is good to increase the portfolio holding little by little out of the market fluctuation. Whenever the market turns bearish, we should find it a way to invest and don't get into panic. What we're experiencing now is perfect fit for this.
The cryptocurrency market is completely different from the traditional market. So, closer observation than the traditional market is much required.
The cryptocurrency market is completely different from the traditional market. So, closer observation than the traditional market is much required.
Sometimes we have to be realistic, the price of bitcoin rising is almost a week and usually the trend will be negative again, for those who have bought when prices below $ 20k then I suggest to sell, if the price looks normal, the price graph looks stable then we can buy again.
Buying again is when the decline occurs again like today. Because if you sell and then buy again at the same price, then there will be no profit. And I think your advice is only suitable for those who hold Bitcoin in the short term, while for those who like to hold Bitcoin in the long term, definitely will not sell all the Bitcoin they already have at this point.Because they are still quite optimistic about Bitcoin.
Sometimes we have to be realistic, the price of bitcoin rising is almost a week and usually the trend will be negative again, for those who have bought when prices below $ 20k then I suggest to sell, if the price looks normal, the price graph looks stable then we can buy again.
In my opinion, BTC volatility is a powerful market wave that should keep investors in profit especially with DCA method. because if price is the major concern over the amount of BTC an investor is able to gather as prices keep fluctuating, it invariably means it is fiat he is holding and not BTC.
It will only be regarded as BTC holding if every price wave adds to it.
It will only be regarded as BTC holding if every price wave adds to it.
I always think when you are holding BTC, you are holding BTC. I don't need to concern myself with whether holding BTC means holding fiat. I agree, that price has something to do with BTC or rather why we are hodling BTC. But I do not think there is a need to torture ourselves or need to complicate things by thinking about something that isn't true. If I hold BTC, I hold BTC and its characteristics. Nothing more nothing less.
Of course we will choose both, my country still has not regulated cryptocurrencies but prohibits cryptocurrencies from being used for transactions such as fiat, this is what makes all my needs to be paid for with fiat, if one day the use of bitcoin becomes more massive and easy of course there is no need for fiat anymore.
True, so far there are still many countries that prohibit Bitcoin as a means of payment, Most countries make Bitcoin a commodity asset, so if someone asks to choose between holding fiat or Bitcoin they will certainly hold both because of their different uses, Bitcoin as an asset/investment and Fiat as a means of daily payment transactions.For people who live in countries that prohibit the use of Bitcoin as a means of payment, it seems that they can't just focus on holding Bitcoin.
The problem is the majority of countries that legalize crypto, usually only allow the use of crypto as a digital asset and for daily financial transactions
it is mandatory to use fiat. That's why I'm holding Bitcoin as well as holding fiat, because that's the safest thing to do right now. I also by holding both
will benefit from Bitcoin without breaking the rules. I also don't mind in my country Bitcoin can't be used for payments, because for now
I am more comfortable using Bitcoin only for investment.
Been that Bitcoin is not backed by any centralized authority, community or asset, it is therefore wise first as a currency and not as a store of value; especially for salary earners in developing countries, low income earners and those who live on wages.
Because to be profitable in BTC investment, one must be a high salary earner who invests with money that has no future need, with reasons that volatility will always be a key player as long as BTC exists.
Probably that but, how do you use it for a currency when there are very few merchants out there whom are ready to offer there goods or services in exchange for bitcoins?Because to be profitable in BTC investment, one must be a high salary earner who invests with money that has no future need, with reasons that volatility will always be a key player as long as BTC exists.
I think that's where the actual problem lies as by testimonial evidence that has surfaced in this forum, bitcoin or crypyo enthusiast are more than ready to use bitcoin for a currency as much as they use it for a store of value. This makes the currency opportunity seeking and should the medium be availed by a merchant, perhaps just to test it, hodlers would spend a few and the next you know, we would have people transacting with bitcoin just as fiat.
How long will it take this to come through, its left for the government to decide by virtue of recognition which is so unfortunate!
Of course we will choose both, my country still has not regulated cryptocurrencies but prohibits cryptocurrencies from being used for transactions such as fiat, this is what makes all my needs to be paid for with fiat, if one day the use of bitcoin becomes more massive and easy of course there is no need for fiat anymore.
Agree with what you said. In this case holding both can still be done.Currently in the country I live in bitcoin is still a taboo even though in recent years some circles have started to introduce this but obviously this is not a reason to let go of Fiat because Fiat is still one of the main things for daily needs I.
Holding both is a good thing to do, Fiat to support daily life and bitcoin being one of the assets for my Investment.
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True, so far there are still many countries that prohibit Bitcoin as a means of payment, Most countries make Bitcoin a commodity asset, so if someone asks to choose between holding fiat or Bitcoin they will certainly hold both because of their different uses, Bitcoin as an asset/investment and Fiat as a means of daily payment transactions.
In addition to their different uses, they are also often needed by everyone to achieve certain goals and profit targets as desired. Because when someone has a certain amount of fiat that he can use every day, then that person will store Bitcoin more securely for investment and will also never bother him before the profit target is actually achieved. 
Of course we will choose both, my country still has not regulated cryptocurrencies but prohibits cryptocurrencies from being used for transactions such as fiat, this is what makes all my needs to be paid for with fiat, if one day the use of bitcoin becomes more massive and easy of course there is no need for fiat anymore.
Agree with what you said. In this case holding both can still be done.Currently in the country I live in bitcoin is still a taboo even though in recent years some circles have started to introduce this but obviously this is not a reason to let go of Fiat because Fiat is still one of the main things for daily needs I.
Holding both is a good thing to do, Fiat to support daily life and bitcoin being one of the assets for my Investment.
In my opinion, BTC volatility is a powerful market wave that should keep investors in profit especially with DCA method. because if price is the major concern over the amount of BTC an investor is able to gather as prices keep fluctuating, it invariably means it is fiat he is holding and not BTC.
It will only be regarded as BTC holding if every price wave adds to it.
It will only be regarded as BTC holding if every price wave adds to it.
It's the best thing we can do in my opinion right now, keep buying bitcoins and other crypto coins. Inflation seems to be fluctuating between 7-10% right now in most of the big countries, while interest rates are still very low. In my savings account the bank still pays 0% interest, which makes holding fiat money as the worst possible investment right. Even when you don't want to buy more cryptos, buying stocks or commodities is still so much better than holding cash. It might take another few months for investors to realise, but we are in a very position right now. Low to negative economic growth with high inflation can result in a downward spiral. The best escape for me is to keep buying bitcoins. DCA is a good strategy for people who are looking to buy bitcoins continously and don't need to worry so much about the price.
Of course we will choose both, my country still has not regulated cryptocurrencies but prohibits cryptocurrencies from being used for transactions such as fiat, this is what makes all my needs to be paid for with fiat, if one day the use of bitcoin becomes more massive and easy of course there is no need for fiat anymore.
True, so far there are still many countries that prohibit Bitcoin as a means of payment, Most countries make Bitcoin a commodity asset, so if someone asks to choose between holding fiat or Bitcoin they will certainly hold both because of their different uses, Bitcoin as an asset/investment and Fiat as a means of daily payment transactions. 
Bitcoin holding will gives you profit at any point.The price of bitcoin in 2009 and now is not same,the long term holders of bitcoin from 2009 was the legend now.They can easily manipulate the bitcoin and thus they called as whale.The price of bitcoin reduced to half the value of bitcoin before.This is cause of the value instability now.Many traders holding now for the pump.The reactions of the market was very low,this was the market was dump for the longer period.
In 2009, Bitcoin has no price. It has a price in 2010, the price was around $0.09. If you compare the price in 2009-2010 with the current price, the gap is so high. People who have many Bitcoin in 2009-2010 must be rich right now. But I doubt if they are still holding the Bitcoin bought in 2009-2010. Only Satoshi still keeps their Bitcoin in wallets. Anyway, I think the chance to manipulate Bitcoin is smaller than altcoins. No whales really dominate Bitcoin.which is really regrettable but there's nothing we can do if we do able to commit those mistakes but we know that its never been too late.Manipulation talking about bitcoin cant be that possible or in an obvious manner.
Supply had been scattered and it would be less likely to happen but if most whales would make out such the same decision it would really be making out that significant effect on entire market.
Bitcoin holding will gives you profit at any point.The price of bitcoin in 2009 and now is not same,the long term holders of bitcoin from 2009 was the legend now.They can easily manipulate the bitcoin and thus they called as whale.The price of bitcoin reduced to half the value of bitcoin before.This is cause of the value instability now.Many traders holding now for the pump.The reactions of the market was very low,this was the market was dump for the longer period.
In 2009, Bitcoin has no price. It has a price in 2010, the price was around $0.09. If you compare the price in 2009-2010 with the current price, the gap is so high. People who have many Bitcoin in 2009-2010 must be rich right now. But I doubt if they are still holding the Bitcoin bought in 2009-2010. Only Satoshi still keeps their Bitcoin in wallets. Anyway, I think the chance to manipulate Bitcoin is smaller than altcoins. No whales really dominate Bitcoin.
Yes, holding Bitcoin is more favourable in this hardship than holding Fiat in the bank, because those that hold bitcoins since 2014 really made a huge amount of money when the price of Bitcoin increase higher to $55k last year 2021 which is still giving other people hope to buy more of bitcoins in this bear season and hold for the price to move higher. I don't think, holding Fiat for 7 or 8 years can bring such huge amount of money Bitcoin holders are making, because many people that hold their fiat in the Bank regret for the profits those that hold Bitcoin made at the end of the year.
For investment, of course I'm holding bitcoin, but for daily transactions or direct payments I still depend on Fiat, for the percentage of course Fiat is greater than Cryptocurrencies. But I hope one day will be easier and cheap if we want to transact with cryptocurrencies
I think so because both ways we should hold bitcoin is generally more popular in the world of crypto. In other countries its prevalence is less and they are usually in fiat if bitcoin is supported worldwide then bitcoin will be more popular than fiat its use will increase a lot.
In my opinion, BTC volatility is a powerful market wave that should keep investors in profit especially with DCA method. because if price is the major concern over the amount of BTC an investor is able to gather as prices keep fluctuating, it invariably means it is fiat he is holding and not BTC.
It will only be regarded as BTC holding if every price wave adds to it.
Having this type of help is a big deal, understanding bitcoin and fiat are pegged to each other is a greatly big deal. I personally believe that we are holding bitcoin, and dollar is not a big deal, but not every people understand it the same way and that's fine.It will only be regarded as BTC holding if every price wave adds to it.
Decentralized means a big deal because of this, it means that we do not have to do anything big about crypto at all, we could disagree on anything about it, and since it's decentralized there is nobody that will take it to our side or opposite side, it will be whatever it is and not change. As long as that's the case, we will be doing fine. That's not a small thing neither, it means a lot.
In the long run, holding BTC is better than storing fiat in banks simply because it's more profitable. It will be wiser to use our funds in good investment than to keep it at a stable price with such minimal yearly profit in banks. Maybe one of the reasons why banks see Bitcoin as a treat is that people are starting to trust crypto over them. Bitcoin could be volatile but investors still see that as an opportunity to either buy or sell at a good value.
If the purpose is for investment, BTC should be a better option. But if the goal is for saving only, storing the money in the bank seems more secure. So, it depends on the purpose or goal of an individual. However, it is true that if someone wants his money to give good profits, BTC offers a chance to gain bigger profits. But he must deal with the risks of BTC investment, it is very volatile and unpredictable. Well, you can hold Bitcoin as your long term investment tho because FIAT experiencing inflation that makes it less valuable in the future. Most people ask about which is the best that we hold between Bitcoin and Gold, we can't always hope the Bitcoin price on its ATH since we don't control the price and even the whale can't 100% control the price.
Many people have switched from holding fiat to investing in cryptocurrencies or gold because depositing money in the bank no longer gets annual profits due to the impact of inflation causing the value of fiat to decline. We must change the pattern of economic management to anticipate fiat inflation so that the right choice is to switch to investing in Bitcoin or gold. Even if you still hold fiat but you have to convert to USD because the local currency is very low impact all basic necessities have increased from the previous price.In the long run, holding BTC is better than storing fiat in banks simply because it's more profitable. It will be wiser to use our funds in good investment than to keep it at a stable price with such minimal yearly profit in banks. Maybe one of the reasons why banks see Bitcoin as a treat is that people are starting to trust crypto over them. Bitcoin could be volatile but investors still see that as an opportunity to either buy or sell at a good value.
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