Are we hodling BTC or we are hodling Fiat?? - page 4.

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Quote from: lalabotax on August 03, 2022, 04:21:56 PM

Quote from: ethereumhunter on August 02, 2022, 09:46:49 PM

If they only hold fiat without having any investment, I think they will find it difficult to grow their fiat for future use. With today's progress, it is highly recommended to have an investment in any form, of course, a valid one. And we now have cryptocurrencies, especially bitcoins, that we can invest in long-term.

That's why I said above, "ideally people hold both fiat and Bitcoin". People use fiat for daily spending, not to grow it. While they use Bitcoin for investment, to increase its amount. So, I think, it is the best solution to do, people can deal with their daily spending and they also can gain profits from investing in Bitcoin. But I don't think investing in Bitcoin is highly recommended for everyone, it is for people who have enough knowledge about crypto and Bitcoin only. It is caused by investing in Bitcoin is high risk.

But there are people who had been making some time deposits with their fiat and its the truth since not all would really be that confident on leaving their riches into crypto which is volatile and something which isnt

really regulated which means and thinks that it is more risky if they would really be having that way.Just let them be because we do have different approach when it comes to bitcoins or crypto existence.

Some might really get interested to it and some wont really bother themselves on touching or putting up some consideration with it because they are afraid to engage whether they had
been influenced by other external factors or just simply their personal views.

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Quote from: ethereumhunter on August 02, 2022, 09:46:49 PM

If they only hold fiat without having any investment, I think they will find it difficult to grow their fiat for future use. With today's progress, it is highly recommended to have an investment in any form, of course, a valid one. And we now have cryptocurrencies, especially bitcoins, that we can invest in long-term.

That's why I said above, "ideally people hold both fiat and Bitcoin". People use fiat for daily spending, not to grow it. While they use Bitcoin for investment, to increase its amount. So, I think, it is the best solution to do, people can deal with their daily spending and they also can gain profits from investing in Bitcoin. But I don't think investing in Bitcoin is highly recommended for everyone, it is for people who have enough knowledge about crypto and Bitcoin only. It is caused by investing in Bitcoin is high risk.

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Quote from: Darker45 on August 02, 2022, 11:06:52 PM

It can't be denied that many are buying and HODLing Bitcoin not because of anything else but because of its carried fiat value, that and that alone. So they don't care about Bitcoin's features. They simply don't care about fundamentals because they're only thinking of its price. In other words, they're HODLing Bitcoin for fiat's sake. It's fiat that they're after.

They're like buying a piece of land for the sake of its appreciating value and not because they want to build a house on it or plant trees on it or whatever utility they could have gotten from it.

At any time, it was very important for people to keep the money they earned, because if you hold fiat, then inflation eats away its value. For this reason, people buy land, gold, or bitcoin. All people will not understand how and what is arranged, it is very difficult for someone to do it, someone is just too lazy, but bitcoin is accepted at the state level, that why people will use it as an investment tool.

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Although bitcoin's performance continues to improve but in my country cryptocurrencies cannot be used for direct transactions, this is what makes the influence of fiat still very strong, for me bitcoin is an alternative to payment and also an investment so using both is of course a better option.

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It can't be denied that many are buying and HODLing Bitcoin not because of anything else but because of its carried fiat value, that and that alone. So they don't care about Bitcoin's features. They simply don't care about fundamentals because they're only thinking of its price. In other words, they're HODLing Bitcoin for fiat's sake. It's fiat that they're after.

They're like buying a piece of land for the sake of its appreciating value and not because they want to build a house on it or plant trees on it or whatever utility they could have gotten from it.

But this speaks of Bitcoin's treatment and not of Bitcoin itself.

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Quote from: darkangel11 on August 02, 2022, 04:26:09 PM

So you hold both bitcoin and fiat. What do you spend then? Cheesy

You have to live somehow, pay your bills, buy food...

I prefer to spend fiat because fiat is inflationary. It loses value over time so holding it doesn't make a lot of sense. I hold only as much fiat money as I'd need for maybe a year if I got sick or had some problems like an accident or a medical condition. Cash is like a hot potato these days with 10% inflation.

Don't worry. I've allocated some money to pay bills, buy food and other necessities, so it doesn't bother me to stick to bitcoin and fiat at the same time. Even though I sometimes sell bitcoins due to a sudden need, I can still hold most of my bitcoins and fiat and buy bitcoins at low prices.

I also prefer to use fiat to shop for daily necessities because there are no offline stores that accept payments using crypto. So until now, I'm still fine Grin

Quote from: lalabotax on August 02, 2022, 04:51:45 PM

People must hold fiat, no one can avoid fiat because we use fiat for anything we need daily. While holding BTC is mostly intended for investment, so people won't sell it any time, they only sell Bitcoin once it can earn good profits. Ideally, all people do the same as you, holding both fiat and Bitcoin. But we use fiat and Bitcoin for different purposes. We use fiat for daily spending, while Bitcoin for investment.

If they only hold fiat without having any investment, I think they will find it difficult to grow their fiat for future use. With today's progress, it is highly recommended to have an investment in any form, of course, a valid one. And we now have cryptocurrencies, especially bitcoins, that we can invest in long-term. And if we can increase the number of our bitcoins over time, we can earn big profits in the future.

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of course we must have an analysis so that if something happens that we don't want then we don't blame anyone, for me holding bitcoin is better and has the potential for profit, currently I save about 0.35 btc which I bought with the cheapest price range $ 20k, and the most expensive is $57k, if calculated on average I buy around $14200, if the conversion price is currently around $8500 and I lose too much so I will hold until profit.

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Quote from: Hypnosis00 on August 02, 2022, 06:48:02 PM

I am doing both - I can't just afford to hold BTC without touching it and sometimes converted to fiat money for some reason. And since Bitcoin is not already accepted in my place I was really holding fiat and using it while considering Bitcoin solely as my investment.

Because for now, the majority had considered Bitcoin as a form of investment. Even though we can use it to purchase and pay bills but the situation in many places wasn't it was not yet legal and accepted pushes people to just hold and the use of fiat in major transactions remains.

Although holding fiat is indeed less profitable but in my opinion it needs to be done, because as you said not all countries legalize Bitcoin.
So for me holding fiat still needs to be done, after all for urgent needs we need to save fiat, so the process is faster. After all I'm holding Bitcoin
for long term investment and it's my retirement plan, so I hope my investment is not disturbed by an urgent need, therefore the solution we must
have fiat savings as well. In conclusion, holding fiat and BTC is highly recommended, after all it is very risky if only holding BTC, because we know
the crypto world is full of surprises, so we shouldn't just invest in Bitcoin. That is why it is very important to diversify investments, so that we can
minimize the risks that occur.

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I am doing both - I can't just afford to hold BTC without touching it and sometimes converted to fiat money for some reason. And since Bitcoin is not already accepted in my place I was really holding fiat and using it while considering Bitcoin solely as my investment.

Because for now, the majority had considered Bitcoin as a form of investment. Even though we can use it to purchase and pay bills but the situation in many places wasn't it was not yet legal and accepted pushes people to just hold and the use of fiat in major transactions remains.

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Quote from: samcrypto on August 02, 2022, 05:54:14 PM

Supposedly, BTC is not meant for such investment but since the technology grows a lot and many use Bitcoin as their investment and not currency at all, it becomes one of the best investment option currently out in the market. This is not just a currency anymore, its volatility makes it more like an investment.

BTC is a digital currency, it is the main goal of BTC as Satoshi described in BTC whitepaper. As time goes by, people used BTC mostly for investment because they know the chance to take profits from its high volatility. It becomes more popular as a digital investment after many people succeed to get huge profits from BTC investment. However, although most people are using BTC for their investment, some people also use BTC for payment purposes. It means, BTC main use doesn't disappear, it's just less visible due to the popularity of BTC investment.

Quote from: samcrypto on August 02, 2022, 05:54:14 PM

Holding fiat and Bitcoin is fine, because they serve their own purpose and in a place where cryptocurrency is not accepted they have no option but to stay with fiat money. Personally, I still hold more fiat money and stocks, because Bitcoin is still not fully adopted in my country and of course its better to diversify.

It is the same with my country. Here, BTC is legal for digital investment only, cannot be used for payment purposes. So, we must hold both BTC and fiat, it is impossible to avoid fiats.

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Quote from: dark1234 on August 02, 2022, 02:38:01 PM

BTC financial logic can no longer be called a currency or a substitute for money in its role, this is all because of the value that BTC has.
and we try to collect and store it because of the possibility of a very high value occurring in the future and this is what makes everyone invest in it, even altcoins and stabilcoins still cannot become fully digital currencies because it can be said that 80% of them run as transaction tools in an exchange market

So it means that only the top coins in the CMC should we use and invest? But not everything at the top is useful or should I say they exist only as a digital of the existing currency so it's not advisable to invest on it. Bitcoin can be both fiat or an asset so why hold fiat when it won't grow overtime?

I have to say to you that BTC is still gonna be use as currency since it is what it is as designed for P2P transaction by Satoshi. Thus, due to the price growing up over time because of the people mining and holding plus the halving cycle every four years will eventually make the price grow even more.

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Quote from: samcrypto on August 02, 2022, 05:54:14 PM

Supposedly, BTC is not meant for such investment but since the technology grows a lot and many use Bitcoin as their investment and not currency at all, it becomes one of the best investment option currently out in the market. This is not just a currency anymore, its volatility makes it more like an investment.

Without BTC being considered mostly as an investment, there might be no hype about that currency today. That fuels the popularity of bitcoin up to this point.

The volatility of bitcoin makes it one of the most popular and trendy thing to put an investment in as long as people know and understands the risk once they consider putting money on here. Even a simple holding do have some risks.

Holding literally both BTC and fiat does make sense - it's money! Either which of them holding, it's always a good thing to have fiat and BTC reserves.

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Quote from: ultrloa on August 02, 2022, 04:45:12 PM

Quote from: darkangel11 on August 02, 2022, 04:26:09 PM

Quote from: ethereumhunter on August 02, 2022, 11:09:17 AM

I prefer to hold bitcoin and hold fiat because by holding bitcoin, we can sell it anytime we want, especially if the price of bitcoin increases rapidly and reaches a high price. We also hold fiat to buy more bitcoins, especially if the price can drop drastically to the lowest level and then hold it back until the price recovers and increases to higher prices.

So you hold both bitcoin and fiat. What do you spend then? Cheesy

You have to live somehow, pay your bills, buy food...

I prefer to spend fiat because fiat is inflationary. It loses value over time so holding it doesn't make a lot of sense. I hold only as much fiat money as I'd need for maybe a year if I got sick or had some problems like an accident or a medical condition. Cash is like a hot potato these days with 10% inflation.

But at the end of the day you will still need to convert your bitcoins to fiat so that you can pay all your bills or anything what you need since we cannot still really bitcoin in terms of utility since there's limited merchants or institutions accept bitcoin. Although cash is really hot because of inflation but still this is most preferred by people globally.

This is true and on point even myself is guilty to this that whenever i do make some crypto earnings or profits i do really make active conversions or cash out with it just because we do have expenses and things that
needed to be for us to live or survive.It would be hard on talking about holding for long term specially you do know that you are needing something to spend.For investment side then its not really a bad idea to hold
bitcoin and we know on how inflation works with fiat but we've been dealing this problem forever but believe it or not where people do find their best on accumulating fiat as much as possible.

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Quote from: chaser15 on August 02, 2022, 04:59:07 PM

To make it simple and not much technical, then decide based on our own view.

I hold BTC for investment mostly and do not use it as a currency.
I hold, or maybe the best term is to save because that's necessary for me in case there's an urgent need.

Conclusion, since BTC for me was meant for investment, then obviously, holding and saving fiat plays a big role to make my BTC holdings increase as I progress.

Supposedly, BTC is not meant for such investment but since the technology grows a lot and many use Bitcoin as their investment and not currency at all, it becomes one of the best investment option currently out in the market. This is not just a currency anymore, its volatility makes it more like an investment.

Holding fiat and Bitcoin is fine, because they serve their own purpose and in a place where cryptocurrency is not accepted they have no option but to stay with fiat money. Personally, I still hold more fiat money and stocks, because Bitcoin is still not fully adopted in my country and of course its better to diversify.

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To make it simple and not much technical, then decide based on our own view.

I hold BTC for investment mostly and do not use it as a currency.
I hold, or maybe the best term is to save because that's necessary for me in case there's an urgent need.

Conclusion, since BTC for me was meant for investment, then obviously, holding and saving fiat plays a big role to make my BTC holdings increase as I progress.

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Quote from: ethereumhunter on August 02, 2022, 11:09:17 AM

I prefer to hold bitcoin and hold fiat because by holding bitcoin, we can sell it anytime we want, especially if the price of bitcoin increases rapidly and reaches a high price. We also hold fiat to buy more bitcoins, especially if the price can drop drastically to the lowest level and then hold it back until the price recovers and increases to higher prices.

People must hold fiat, no one can avoid fiat because we use fiat for anything we need daily. While holding BTC is mostly intended for investment, so people won't sell it any time, they only sell Bitcoin once it can earn good profits. Ideally, all people do the same as you, holding both fiat and Bitcoin. But we use fiat and Bitcoin for different purposes. We use fiat for daily spending, while Bitcoin for investment.

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Quote from: darkangel11 on August 02, 2022, 04:26:09 PM

Quote from: ethereumhunter on August 02, 2022, 11:09:17 AM

I prefer to hold bitcoin and hold fiat because by holding bitcoin, we can sell it anytime we want, especially if the price of bitcoin increases rapidly and reaches a high price. We also hold fiat to buy more bitcoins, especially if the price can drop drastically to the lowest level and then hold it back until the price recovers and increases to higher prices.

So you hold both bitcoin and fiat. What do you spend then? Cheesy

You have to live somehow, pay your bills, buy food...

I prefer to spend fiat because fiat is inflationary. It loses value over time so holding it doesn't make a lot of sense. I hold only as much fiat money as I'd need for maybe a year if I got sick or had some problems like an accident or a medical condition. Cash is like a hot potato these days with 10% inflation.

But at the end of the day you will still need to convert your bitcoins to fiat so that you can pay all your bills or anything what you need since we cannot still really bitcoin in terms of utility since there's limited merchants or institutions accept bitcoin. Although cash is really hot because of inflation but still this is most preferred by people globally.

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Quote from: ethereumhunter on August 02, 2022, 11:09:17 AM

I prefer to hold bitcoin and hold fiat because by holding bitcoin, we can sell it anytime we want, especially if the price of bitcoin increases rapidly and reaches a high price. We also hold fiat to buy more bitcoins, especially if the price can drop drastically to the lowest level and then hold it back until the price recovers and increases to higher prices.

So you hold both bitcoin and fiat. What do you spend then? Cheesy

You have to live somehow, pay your bills, buy food...

I prefer to spend fiat because fiat is inflationary. It loses value over time so holding it doesn't make a lot of sense. I hold only as much fiat money as I'd need for maybe a year if I got sick or had some problems like an accident or a medical condition. Cash is like a hot potato these days with 10% inflation.

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If i try to look out at the Subject of the topic I'm pretty sure that you tiered of the Side ways moment but this is what it is. For the answer of the topic i would like to recall something as BTC is nothing like Fait so Hold BTC if you can time speaks louder. Market shows everything It shows Volume, Volatility, Resistance and Everything you can expect in reality is the fact of Market.

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There are multiple reasons I'm holding Bitcoin, the main one is for investment purposes. I'm highly confident that in a few years, Bitcoin will thrive once again, resulting in a decent profit. The second reason, is because it enables me to hold funds away from banking services and officials. For instance, my earnings would have to be declared if I exchanged to fiat. Furthermore, I find it pretty convenient that I practically have money stored in my computer, without it directly tracking back to me.

As mk4 mentioned, Bitcoin has multiple uses and nobody bothers how you use it.

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