It depends on your goal. In first place, we have a distinct approach. If you foresee something that could happen, then analyze it. If you think it's good to convert now, based on your projected conclusion, then you are free to do so. The same applies if you just want to hold onto it.
My strategy is still going to convert, as usual, only if there is a good reason to do it. But surely regardless of what's going to happen, even in a big crash. I certainly wouldn't have sold all my hodl.
Topic: BTC is used all the time even if you hodl. (Read 1325 times)
There's no harm to hodling bitcoins compared to hoarding fiat currency, as OP have mentioned regardless if bitcoin is hodled, it's the market cap that circulates anyway so there are no risk of stagnation. And since bitcoin is virtual there is no risk to it physically running out, even virtually in some cases when you consider the fact that Satoshis are there to help.
When you Hodl you are effectively loan out the amount equivalent in FIAT that that BTC represents to the market cap, and thus others to do things with that capital [the amount maybe the amount you acquired the BTC for]. Either way it is incorrect to say that not spending BTC is not Using BTC.
Some big exchanges have been contributing to the total amount of BTC going around in the market and they are the ones who usually make the liquidation to make BTC the biggest core of the crypto market. If they also hodl their BTC, then this whole thing will be nothing and the price will not continue to grow. The holders are also contributing to this situation and the best part of it is when the price continues growing, the supply of BTC continues to decrease in the market and that will result in to rise in the price even more.
See the thing is HODL doesn't quite mean that you are supposed to keep bitcoins away locked up unattached with the market and the economics but actually it does mean that you are using those bitcoins to maintain a stable BTC pool which would resist any change in the price. I take it as a buffer solution , it will protect the bitcoins from any ups and downs. Plus when we talk about how you are leaning it and such I do believe that is inevitable , that's how it is made , we cannot use it just as it is , we still have years to reach that stronghold. Right now what is important is understanding the value of it. Many people cash in - cash out instantly , some of them regret moments later. Holding them does provide you with a part of power in the pool and you do have a secure future since we all know it's going to climb for sure. The limited supply is something that would mean you are holding an immensely rare element of the periodic table , even more expensive than gold. Take it as an investment ! Don't think much and understand the meaning behind it.
for me it's a buffer system just like the hydrocarbon buffer in our blood , nominal but essential.
for me it's a buffer system just like the hydrocarbon buffer in our blood , nominal but essential.
There are two sides of this coin. Some people will say that spending is better because you pay fees that reward miners and you reward people who offer services for bitcoin, spread the word. Others will say that when you hold you increase the price by decreasing the tradable supply. It's really hard to say which option is better. Personally, I'm a holder. I don't need to spend because I earn fiat and bitcoins every month, so I choose to spend fiat and hold bitcoins. For me it's an obvious choice, but you do what you want, it's being in the space that counts, regardless of whether you're a service provider, spender, miner, trader or holder.
When you Hodl you are effectively loan out the amount equivalent in FIAT that that BTC represents to the market cap, and thus others to do things with that capital [the amount maybe the amount you acquired the BTC for]. Either way it is incorrect to say that not spending BTC is not Using BTC.
HODL term from a 2014 Posts, very legit and reasonable to read, while Nowadays the Word HODL mostly applied to 1 month to maximum of 1 year holding of the currency .HODL > Freedom
Nice Dig here Mate, you come to reopen a 6 years old post but worth Bumping since we are in another History making. because you shouldn't forget that the main purpose of bitcoin is keeping funds and no one obliges you to spend your investments
Wrong mate, Who told you that? If no one's gonna spend Bitcoin then How would market circulate ?and if this is what the true Intention of Bitcoin then What's the Value all about?Even Gold is being Traded to Gain more value.
Anyone can use bitcoin in their most useful way. I work for bitcoin, I set recurring buys every month and I hold most of them. As long as I will not need to use them they can safely wait in cold storage. And today is a good day for UTXOs consolidation: cheap txs going through. Don't miss your chances to leverage cheap txs.
You have been warned
You have been warned
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It is possible to make profit by holding Bitcoin, but how can you make a profit by just holding on to lifelong mass! Bitcoin must be used when needed, Bitcoin must be used where there is an option to use it, then the promotion will increase. If someone offers the same service in exchange for Bitcoin or other e-currency, the service should be accepted in exchange for Bitcoin. This will increase the adoption of Bitcoin. Buy at deep, hold for long term and use it as currency.
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because you shouldn't forget that the main purpose of bitcoin is keeping funds and no one obliges you to spend your investments
False, bitcoin was created as an alternative currency to the fiat systems, others are just additional benefit you get from believing in the technology. The asset side of bitcoin is very vital but shouldn't be be prioritize as the main idea behind the creation of bitcoin. If we want adoption we should encourage the use of the currency for our day to day needs although that doesn't mean holders aren't supporting this course.
Don't forget with the fiat system, you have funds allocated for savings, investment etc and also have those allocated for spending, same can be said about bitcoin. The reason behind the hold ideology has to be for those going into investing, instead of trying to outsmart the market every now and then by trading for profits, it's most advisable to just buy and hold.
When you Hodl you are effectively loan out the amount equivalent in FIAT that that BTC represents to the market cap, and thus others to do things with that capital [the amount maybe the amount you acquired the BTC for]. Either way it is incorrect to say that not spending BTC is not Using BTC.
For now, I think that the best way to use bitcoin is just to hold because of the volatility in the market, Spending bitcoin is not really the thing for now because it is still in the process.
In the future when the market price is already stable I think it would be suitable for spending but personally, I think it's better to invest your bitcoin than investing it online.
Nothing really could go wrong if you're holding your bitcoin for a long term investment, and you could always sell it whenever you want as the market price increases.
Thats good to know, normally ppl keep saying that if you don't spend your bitcoins it causes affects to its value and I do spend my coins on trading altcoins, purchasing virtual goods etc and gambling but I do hodl to a large extent and don't use/spend unless required.
During this pandemic, there are people who are pushed to use bitcoin because of personal necessities to survive.
That's okay as long as you benefit it and it help you to sustain your need but next time you should allocate a proper budget for that because cryptocurrencies are good opportunities to a much more profit.
Bitcoin is never useless or wasted, it is only wasted if you lose it in gambling or you get scammed by other people. Trading altcoins is really much better, it has a lot of profit too, not only bitcoin. You should invest to other altcoins because if there's a variety of source of income then you can make your investment grow immediately.
When you Hodl you are effectively loan out the amount equivalent in FIAT that that BTC represents to the market cap, and thus others to do things with that capital [the amount maybe the amount you acquired the BTC for]. Either way it is incorrect to say that not spending BTC is not Using BTC.
Wow, thia post has been written around 6 years ago and I haven't thought from this perspective. Bitcoin is such a complex, but yet such a simple economic instrument.
Just to give an example, by holding BTC and not selling it the pressure on the market is lower, thus the price can more easily rise. This impact people who get loans using crypto as collaterals as well. They can leverage more fiat money for the same amount of coins.
It's understandable that you just invest in bitcoin on a long-term basis, and if you don't use bitcoin, but just keep it, then this is also the use of bitcoin, because you shouldn't forget that the main purpose of bitcoin is keeping funds and no one obliges you to spend your investments
Lol it honestly took me 15 minutes to figure out you meant "hold"
need sleep :/
need sleep :/
Check this famous thread:
I AM HODLING
https://bitcointalksearch.org/topic/i-am-hodling-375643
This is where the hodl comes from
Hold bitcoin is because you use at the end ... and the end is almost ... 
here.
here.
Hold the coins make profit
Lol it honestly took me 15 minutes to figure out you meant "hold"
need sleep :/
need sleep :/
HODL is kind of a thing around here. No one says hold ne more lol.
Lol it honestly took me 15 minutes to figure out you meant "hold"
need sleep :/
need sleep :/
Thats good to know, normally ppl keep saying that if you don't spend your bitcoins it causes affects to its value and I do spend my coins on trading altcoins, purchasing virtual goods etc and gambling but I do hodl to a large extent and don't use/spend unless required.
Hodling Bitcoins causes there to be less coins to buy, which should make the price go up. Don't be afraid to hodl.
reasonable to say. but i don't like it when people hold/hoard their coins and then say "it's going to take over currency one day."
You can use your bitcoins while hodling them at http://www.bitpools.com
You keep your coins in your wallet and get to use them to participate in pools without them ever leaving your control.
You keep your coins in your wallet and get to use them to participate in pools without them ever leaving your control.
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