Does hoarding really hurt Bitcoin? - page 2.

shoreno

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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..

bitcoin is the same as real money because it also has a value and holding them does affect the price because if more people hold it for so long, its value can increase but if we sell it then its value can decrease suddenly because it is all about the demand and supply. though most of us nowadays are on to hoarding because of the upcoming hardfork.

malikusama

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

Does hoarding really hurt Bitcoin?

Although hoarding has a bad impact over the market for products but bitcoin case is different. The negative aspects of hoarding bitcoins are low as compared to the positive one, so i don't think so hoarding hurts bitcoin. Users are spending as well as hoarding bitcoin for long term to get maximum out of it, the main thing is demand which is increasing day by day and makes price to rise up to the sky.

owengtam09

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

Does hoarding really hurt Bitcoin?

It can result for us to hurt or not. If bitcoin price fall down then that was really hurt especially when it fall down hardly. All of us for sure hoard bitcoin and it is up to us if we want to continue to hoard or not. Every person that is owning a bitcoin can do whatever they want to their bitcoin.

alisafidel58

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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.

Silberman

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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.)

Besides that is one of the main points of having a currency, one of the characteristics of a currency is to be durable, if it is created from a material that do not last then you will need to use your currency before it deteriorates to the point of becoming unrecognizable and seeing this other people will not accept your currency or will try to accept it for a discount, so a currency is meant to be durable so you can do with it whatever you want.

The Sceptical Chymist

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Quote from: warrior333 on October 31, 2017, 10:12:37 AM

I have a different opinion. Hoarding is bad for bitcoin. The money should work. When bitcoins are in the wallets of users, they create a gap in the market and it stimulates the growth of prices. This has nothing to do with the real price. We must face the fact that the bitcoin price will fall to a reasonable level. It will be a shock to everyone who keeps the coins.

And I have the opposite opinion (ain't democracy great?). It doesn't matter in the least if people hoard bitcoin. Look at Satoshi's block--that's a hell of a lot of coin that's just been sitting there, not contributing to the crypto economy. If anything, it's been a boon to the price. And I would suggest that bitcoin is not a good currency, which is exactly why people are hoarding it and not spending it. Well, that and the fact that it's deflationary. I'm quite content to not spend it and I've no problem with people who do likewise.

And another thing: does hoarding precious metals hurt the metals market? Nope. How about the market for rare comic books/coins/whatever? Nope. Hoarding only drives up the price. And bitcoin shares quite a few attributes with metals. Hoarding, it doesn't hurt anything.

fabiorem

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No, quite the contrary, it is good for it, since it increases the price by decreasing the available supply.

If we consider its potential to become a global currency that would substitute fiat, bitcoin is still very cheap.

The more people hoards it, and the more the demand increases, the higher the price will go, and that is all we want.

EastSound

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Hoarding contributes to the movement since this actions tends to put no sell pressure to the buy orders which can put the value of it go higher.

JMAHH

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While you are hoarding your bitcoins your own wallet you are protecting them from being dumped in some time, because you are the only one who has a full control of your own bitcoins.
I dont see anything bad with this, you are keeping those bitcoins and you are not selling them... And it is like an investment because it's price is always going up.
But holding fiat is not the same, maybe you are confused because of that.. quiet money in fiat is always a bad thing.

Indrawan77

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It is not hurting bitcoin, you make the bitcoin price become stagnant, without the transaction volume the price will become really stable and when it comes too stable then the traders can't trade it, hoarding means there are people buying bitcoin so when you buy and hoard you make the price go higher

CyberKuro

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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.)

For some people with big amount of bitcoin, it maybe yes due to they can dump bitcoin price instantly after some sell strikes within hours.
Consider how many bitcoins generated everyday; As of the latest block reward halving on 9th of July 2016 each block now generates 12.5 new bitcoins. On average a block should be mined each 10 minutes but, because of the constant growth of hashing power (at least until now) each block takes close to 9 min on average to be mined. That means we mine, on average between 1440/10*12.5 and 1440/9*12.5 so between 1800 and 2000 per day.
Miners could generate so many bitcoins in a day, and the big whales of this crypto world are the miners with mining pools.
They have to sell bitcoin everyday to cover their daily expenses, in that case, bitcoin distribute among the holders, investors or traders.
Fortunately, most people can't wait to extract profits by selling their bitcoins which make it distributed and spread widely, instead of just hoarding.

mOgliE

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Hoarding hurts bitcoin yeah but it does more good than harm.
When you hoard, you illogically raise the value of btc by adding value to the market that you just want to take back. You invest value in the hope not that the system is good, but that the system will still grow a bit more just so you take profit from it (a bit like a ponzi). So you're adding false value and when you'll take that value back you'll hurt the trust of investors.

But in the meantime you've helped attracting investors and most of the time they'll do more good than you Cheesy

uszaty43

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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..

Welsh

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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.)

You are partially correct in that hoarding doesn't hurt Bitcoin on it's own, but if everyone did hoard and there wasn't any supply and only demand then Bitcoin wouldn't be worth what it is today.

Bitcoin requires people to actually use Bitcoin to continue to grow in terms of price. There needs to be a reason to own Bitcoin and a reason to spend/trade it. Yes it's true that paying things in Bitcoin you could be overpaying due to it rising in a few years, but really that's only because people are trading in the currency.

rjbtc2017

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

Does hoarding really hurt Bitcoin?

No,But if it will be a culture of all Bitcoin users (this is for example that EVERYONE HOLDS Bitcoins and no one ever uses it as a currency or doesn't even transact it) it may definitely hurt Bitcoin. Bitcoin will be surely dead if these miners will not process transactions because no one creates them which means mining will not be that profitable. Bitcoin is a currency. Every now and then it should be used as a currency and not just hold it.If you really "care" about Bitcoin and Bitcoin Community, then i think , you should use Bitcoin as a currency

afbitcoins

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

Does hoarding really hurt Bitcoin?

No

Cranidos

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

Does hoarding really hurt Bitcoin?

Actually it does not. Hoarding or "hodling" Bitcoins make the price high. If you have a hoard of Bitcoins, you cause scarcity to its market. Scarcity would mean that the supply in the market is low, thus making the price surges. It does not hurt Bitcoin since it is natural. We cannot exclude the fact that a person has the right to his asset and he can hoard all he want.

Some are grateful to those who hodl their Bitcoin, because of them, the increase in Bitcoin's price is incomparable.

richardsNY

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No. People here are constantly advising each other to buy at whatever price and to hold for the long term, which obviously hints at one thing, and that's getting people to not sell anything for a few years (at least, that's my definition of long term). This has been going on for quite some time now -- people aren't selling their coins as easily as they used to back in the days. I think this will continue to happen when you take into consideration that Bitcoin will more and more function as store of value for people. There will always be enough coins for people to buy, because the higher the price goes up, the lower the amounts are that they can afford to buy. It basically evens out the lower availability of Bitcoin.

Slash61

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why should it hurt? From the hoarding of all people can benefit can also be a loss. I mean if someone hoards bitcoin I'm sure someday he will got profit from the bitcoin he heaps. Stockpiling is also the only investment for individuals, I see the market is increasing. the more he accumulates the bitcoin the better.

diouf67

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It really depends on the level of hoarding and the level of usage, there has to be a balance between use and hoarding so that bitcoin has a true value, if this is the case then hoarding is no problem, it would be nice in future to see some system whereby bitcoin is recycled, by this I mean something alike to a bitcoin bank.

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