Does hoarding really hurt Bitcoin? | Bitcointalksearch.org

Silberman

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Quote from: djsugar on November 07, 2017, 09:09:00 AM

Quote from: bubblebit on November 07, 2017, 08:49:30 AM

Quote from: tj4dmx on October 31, 2017, 09:15:41 AM

Does hoarding really hurt Bitcoin?

It’s really funny that this is at least the third thread I’ve read this day alone, about how bad holding bitcoin is. Someone or groups are making this issue to spread just because they’re not holding anything and jealous maybe that someone have. I don’t know if this accusation is accurate but it just not coincidence having this discussion when the price is high and mostly can’t afford to buy some cryptocurrency.

Because is bitcoin hoarding would hurt it then the price should be decreasing, epic that is logical and common sense that need to check for.

I agree that hoarding helps in decreasing the supply and increasing the demand and hence increasing the price. But why do we forget that Bitcoin is a currency first and investment asset later. By hoarding we are hindering the utility. Merchants aren't accepting Bitcoin as a payment system because nobody is ready to use their Bitcoins at all because of inbuilt deflation and hence it hardly makes any difference whether accepting Bitcoin or not.

Don't forget Bitcoin can increase till certain point because of demand but sooner or later utility plays a major role in deciding price and by hoarding we are actually limiting that.

In fact that is not the way things work, historically it was the other way around, at first everything is an asset and then after people begin to notice the asset is very easy to trade and it has all the characteristics of money then it becomes money, bitcoin is an asset first and then a currency and as we can see in the last days bitcoin is a great asset but it is still not a great currency since it is slow and expensive.

Kemarit

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I don't think that there much difference if people or investors decide to hoard bitcoin, if is it then not significantly affect the market price. In my personal experience, I see bitcoin as a form of currency, so I don't have reasons to hoard, well just a few but not that much. I always liquidate it because I have a offline business and I took some of my bitcoins to put in their. So it makes sense to me to cash out some of my stash. Because I believed that its better to bring back the bitcoins I have into circulation so that others can bought it. Plus hoarding gives us a better price isn't it? And those hoarders one time or another would have to sell off because we need to cash out and take profit at one point in time. And there's always a chance to buy in dips so there's no put in hoarding huge amounts of bitcoin.

CoinsCoinsEverywhere

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Quote from: tj4dmx on October 31, 2017, 09:15:41 AM

Does hoarding really hurt Bitcoin?

Not at all. At this point, I think that hoarding helps it. The more you decrease the supply available for trade on the open market (e.g., through hoarding), the higher the price is going to go. Price increases continue to grab more people's attention, which should then lead to greater participation and adoption. Hoard away! Grin

DrGuns4Hands

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Definitely for me hoarding affects bitcoin but not that much. But because be means of hoarding, your money will not work or process. It will affect the bitcoin and other resources.

ChainSmoker

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Hoarding doesn't hurt bitcoin.People are free to choose what they want to do with their bitcoin but yes ultimately i also think bitcoin should be more transacted that way it will increase the adoption and also the volume will increase.People should not only buy bitcoin as a means of investment(which most people do.me too Tongue

) but also should use on day to day basis for their daily needs.

Silberman

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Quote from: uszaty43 on October 31, 2017, 05:43:19 PM

Bitcoins are very different from real money, if i have bitcoins on my wallet, i dont feel that constant necessity of spending all my money on a shop or in a mall, i prefer to keep my bitcoins in there and i know that my money will always be safe on there because i would not be tempted to spending them.
but it doesnt affect the price, if you hold them, you are just keeping that amount and you are not dumping anything, i dont see it as a bad thing at all..

I think that is only true because you cannot currently spend your bitcoin on a shop or a mall, once bitcoin becomes accepted everywhere you are going to feel the same impulse to spend it, that is why the most important thing to know is why you are holding your bitcoin in the first place, I’m holding because I expect great economic benefits from bitcoin and not as a way to pay for stuff I do not need.

sunsilk

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Quote from: Yousint0r on November 07, 2017, 09:14:05 AM

Quote from: tj4dmx on October 31, 2017, 09:15:41 AM

Does hoarding really hurt Bitcoin?

not but when you have wallet with more than bitcoin and lost access to the wallet (password , recovery words) will really hurt bitcoin

That's even more of a pain and it's truly a painful thing when someone experiences that thing. He hoards a lot of bitcoin with the hope that one day he'll become a millionaire with bitcoin.

But out of his carelessness losses his recovery phrases, mnemonic, seed or private keys as something unexpected happened. It will hurt you most Cry

Lancusters

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Quote from: BitHodler on November 07, 2017, 09:47:46 AM

Quote from: orions.belt19 on November 07, 2017, 09:28:56 AM

Hoarding in itself may not hurt and it contributes to the price but when a dump is made, it would make an impact especially a great number of coins were dumped. This is how others manipulate the price; it gets lower once a dump is made. Since bitcoin only has a limited supply and its supply does not change, hoarding or dumping and actions like these would make some effects and changes in the price. There are a lot who hoard and it is but normal for people to do so because they intend to have plenty bitcoins for investment.

What you are talking about doesn't only concern Bitcoin's market, but basically every market in the world since the basic principle of a market is based on supply and demand.

In the same way, every market gets manipulated by market movers. Bitcoin's market however lacks serious liquidity, which is why even today, a fair number of coins can get the market to plummet with like 10% effortlessly.

One thing is sure, people here love seeing the price go up, and for that to happen coins need to be taken off the market, but for whatever reason people still think it's against Bitcoin, or at least its currency aspect. Roll Eyes

It happens in ideal conditions. Actually not so simple. If the market is not regulated then the whales can easily manipulate the price. We don't know who eventually buys coins. All exchanges have their own regulatory mechanisms. But the exchange of cryptocurrency created for speculation. To them the laws of the market do not work.

BitHodler

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Quote from: orions.belt19 on November 07, 2017, 09:28:56 AM

Hoarding in itself may not hurt and it contributes to the price but when a dump is made, it would make an impact especially a great number of coins were dumped. This is how others manipulate the price; it gets lower once a dump is made. Since bitcoin only has a limited supply and its supply does not change, hoarding or dumping and actions like these would make some effects and changes in the price. There are a lot who hoard and it is but normal for people to do so because they intend to have plenty bitcoins for investment.

What you are talking about doesn't only concern Bitcoin's market, but basically every market in the world since the basic principle of a market is based on supply and demand.

In the same way, every market gets manipulated by market movers. Bitcoin's market however lacks serious liquidity, which is why even today, a fair number of coins can get the market to plummet with like 10% effortlessly.

One thing is sure, people here love seeing the price go up, and for that to happen coins need to be taken off the market, but for whatever reason people still think it's against Bitcoin, or at least its currency aspect. Roll Eyes

Epimetheus

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Quote from: tj4dmx on October 31, 2017, 09:15:41 AM

Does hoarding really hurt Bitcoin?

Bitcoin price depend on the supply and demand of coins, and everyone knows that the bitcoin are in a limited supply of 21 million coins only, so their price is increasing.
No I think hoarding of bitcoins benefits bitcoin in the long run, as the people hoard bitcoins for the future price increase and this in turn causes those coins to cut from the market causing further rarity of coins and taking the price further higher, so hoarding benefits bitcoin price.

orions.belt19

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Quote from: alisafidel58 on November 06, 2017, 08:18:02 PM

Hoarding is not hurting bitcoin as it makes the price of bitcoin get to a higher value, hoarding is a tactic that has been used for a long time to make a certain item gets more value just like what other people are doing in bitcoin.

Hoarding in itself may not hurt and it contributes to the price but when a dump is made, it would make an impact especially a great number of coins were dumped. This is how others manipulate the price; it gets lower once a dump is made. Since bitcoin only has a limited supply and its supply does not change, hoarding or dumping and actions like these would make some effects and changes in the price. There are a lot who hoard and it is but normal for people to do so because they intend to have plenty bitcoins for investment.

Yousint0r

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Quote from: tj4dmx on October 31, 2017, 09:15:41 AM

Does hoarding really hurt Bitcoin?

not but when you have wallet with more than bitcoin and lost access to the wallet (password , recovery words) will really hurt bitcoin

djsugar

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Quote from: bubblebit on November 07, 2017, 08:49:30 AM

Quote from: tj4dmx on October 31, 2017, 09:15:41 AM

Does hoarding really hurt Bitcoin?

It’s really funny that this is at least the third thread I’ve read this day alone, about how bad holding bitcoin is. Someone or groups are making this issue to spread just because they’re not holding anything and jealous maybe that someone have. I don’t know if this accusation is accurate but it just not coincidence having this discussion when the price is high and mostly can’t afford to buy some cryptocurrency.

Because is bitcoin hoarding would hurt it then the price should be decreasing, epic that is logical and common sense that need to check for.

I agree that hoarding helps in decreasing the supply and increasing the demand and hence increasing the price. But why do we forget that Bitcoin is a currency first and investment asset later. By hoarding we are hindering the utility. Merchants aren't accepting Bitcoin as a payment system because nobody is ready to use their Bitcoins at all because of inbuilt deflation and hence it hardly makes any difference whether accepting Bitcoin or not.

Don't forget Bitcoin can increase till certain point because of demand but sooner or later utility plays a major role in deciding price and by hoarding we are actually limiting that.

bubblebit

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Quote from: tj4dmx on October 31, 2017, 09:15:41 AM

Does hoarding really hurt Bitcoin?

It’s really funny that this is at least the third thread I’ve read this day alone, about how bad holding bitcoin is. Someone or groups are making this issue to spread just because they’re not holding anything and jealous maybe that someone have. I don’t know if this accusation is accurate but it just not coincidence having this discussion when the price is high and mostly can’t afford to buy some cryptocurrency.

Because is bitcoin hoarding would hurt it then the price should be decreasing, epic that is logical and common sense that need to check for.

franco123

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I'm really not sure if it is applied also in Bitcoin, but in fiat currency it actually does. In order for the market to grow, it needs it's currency to circulate. Circulate through the transactions because it creates inflow and outflow of money.

And it Bitcoin, the more it circulates, meaning the higher the demand. And that leads to higher in value. But hoarding is not illegal nor discouraged. This is part of what makes the market of Bitcoin volatile. It is an investment that's why many hold onto their Bitcoins.

batang_bitcoin

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Quote from: tj4dmx on October 31, 2017, 09:15:41 AM

Does hoarding really hurt Bitcoin?

We are in a free economy, so if someone wants to hoard he can do it for free and it's up to him. In what term you are asking that hoarding hurts? It is actually helping the demand of bitcoin to become higher, as the supply is limited and this makes a limit to the total supply in the economy of bitcoin. In a free trade, there are merchants that are hoarding their products in times of crisis to make their valuables expensive.

Casdinyard

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What we're actually doing now is hoarding. We hoard or hold bitcoin now because we're waiting for a good pump and to make a profit and while we hold the supply are getting to its limit and the demand are increasing day by day so as the price is getting less affordable to everyone. The term " hoarding " is a negative term of holding.

ASHLIUSZ

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Quote from: fanbeila on November 07, 2017, 04:30:41 AM

Quote from: neurotypical on October 31, 2017, 09:39:23 AM

Quote from: tj4dmx on October 31, 2017, 09:15:41 AM

Does hoarding really hurt Bitcoin?

Nope. Everyone is free to hoard. It's really stupid when people claim "if you just hoard it, and don't transact it, you are hurting bitcoin!". What the hell is this logic? It is my bitcoin, I do whatever I want with it. If I choose to hoard it then so be it. It is stupid to spend your high quality money that appreciates with time when you have bad quality money that depreciates with time (fiat) to spend things you can already buy with it. Hold the bitcoin, dump the fiat, that is what the intelligent people do. There's no point in doing payments in bitcoin unless you really need to (like paying an VPN service for example.)

Exactly.Hoarding is not bad for bitcoin.Bitcoin is now mostly treated as a digital asset and people nowadays mainly buy it for that reason and not considering it as a currency.

Even the fiat currency is hoarded by many people and so bitcoin being treated as asset,there is no wrong in hoarding it.

Only 16 million coins have been mined and yet 5 million coins are to be mined.That is they are still ready for supply.So,unless the last block of bitcoin is mined making 21 million coins in to circulation,hoarding bitcoin would not hurt bitcoin.

If you take people into consideration, you could find majority of the rich people keep hold of fiat. This does not mean that the value gets affected because of the same as the value will be based on the amount that have got printed. Similar is our bitcoin, hoarding might lead to growth but never leads to decline in value.

Dewao

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Actually i didn't get it why hoarding can hurt bitcoin, in the first place its all yours ,its your money and if the price is going down you need to accept that you lose some of your money, you should aware of that since you are in the world of crptocurrency. All of us are free to hoard or to hold.

fanbeila

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Quote from: neurotypical on October 31, 2017, 09:39:23 AM

Quote from: tj4dmx on October 31, 2017, 09:15:41 AM

Does hoarding really hurt Bitcoin?

Nope. Everyone is free to hoard. It's really stupid when people claim "if you just hoard it, and don't transact it, you are hurting bitcoin!". What the hell is this logic? It is my bitcoin, I do whatever I want with it. If I choose to hoard it then so be it. It is stupid to spend your high quality money that appreciates with time when you have bad quality money that depreciates with time (fiat) to spend things you can already buy with it. Hold the bitcoin, dump the fiat, that is what the intelligent people do. There's no point in doing payments in bitcoin unless you really need to (like paying an VPN service for example.)

Exactly.Hoarding is not bad for bitcoin.Bitcoin is now mostly treated as a digital asset and people nowadays mainly buy it for that reason and not considering it as a currency.

Even the fiat currency is hoarded by many people and so bitcoin being treated as asset,there is no wrong in hoarding it.

Only 16 million coins have been mined and yet 5 million coins are to be mined.That is they are still ready for supply.So,unless the last block of bitcoin is mined making 21 million coins in to circulation,hoarding bitcoin would not hurt bitcoin.

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