Five Reasons People HODL Bitcoin | Bitcointalksearch.org

zarados

full member

Activity: 364

Merit: 130

Quote from: StarKay on April 10, 2018, 02:14:47 AM

Reasons people Hodl:

1. Speculative purpose - due to the spike in the fiat value of Bitcoin over the years, some believes the best way to make money is just to buy and Hodl Bitcoin.
2. Security - Some see Bitcoin as a means of securing their hard earned money not necessarily to make more money; this is especially the case in developing countries especially Nigeria where the value of the Naira usually depreciates overtime.
So rather than leave your money in the bank and see the value depreciate, why not buy some Bitcoins ☺
3. Trend - In some cliques Hodling is the trending thing; if you're not Hodling you don't belong. It's driven by a sense of being part of the next big thing.
4. Love - Some love everything about Bitcoin and the technology behind it (Blockchain). You can't blame them they're rich!
5. Forced - This is my last point, they bought Bitcoin at a high Fiat price and can't afford to let go at a loss so what choice do they have? Hold On to Dear Life 😕
What other reasons do you know?

from the list you mentioned, I assume that it only has a small percentage of the cause of people holding their bitcoins. While the biggest factor in my opinion is the confidence in the future of bitcoin will be glorious and think that bitcoin prices will continue to increase even though not through a smooth road. But it can all be easily ignored with a very high confidence in the future of bitcoin.

Ezmael Wright

newbie

Activity: 191

Merit: 0

There are so many reasons to handle bitcoin, one bitcoin is more trustworthy than others, bitcoin because you can actually say he is different, and it's more helpful to people.

p4npos

newbie

Activity: 224

Merit: 0

I am in the favor of remain "Hold on' as long as possible as I think the whole world is realizing the importance of the cryptocurrencies as the world is bending towards the digital behavior from every angle. The money market will also be a completely digital market soon. Are you in the favor of digital world?

vaughn125

full member

Activity: 238

Merit: 100

Quote from: StarKay on April 10, 2018, 02:14:47 AM

Reasons people Hodl:

1. Speculative purpose - due to the spike in the fiat value of Bitcoin over the years, some believes the best way to make money is just to buy and Hodl Bitcoin.
2. Security - Some see Bitcoin as a means of securing their hard earned money not necessarily to make more money; this is especially the case in developing countries especially Nigeria where the value of the Naira usually depreciates overtime.
So rather than leave your money in the bank and see the value depreciate, why not buy some Bitcoins ☺
3. Trend - In some cliques Hodling is the trending thing; if you're not Hodling you don't belong. It's driven by a sense of being part of the next big thing.
4. Love - Some love everything about Bitcoin and the technology behind it (Blockchain). You can't blame them they're rich!
5. Forced - This is my last point, they bought Bitcoin at a high Fiat price and can't afford to let go at a loss so what choice do they have? Hold On to Dear Life 😕
What other reasons do you know?

Well, that pretty much sums it up for me. Those are the only reasons that I can think of as to why people hold and accumulate as much bitcoins as they can. But in my case though, I only have the reasons 1, 2 and 4. And the main reason I have would be the number 4(although I am not rich) because I have first seen bitcoins on the deep web and got curious. I though it was cool so I searched more about it and have found an article stating its history and and technology. I then on that very moment became a fan and went through cloud mining sites faucets and so much more just to earn as much and then reached this forum. I then learned reading through various threads in different sections that there are a lot of crypto currencies and not just bitcoins, ethereum and doge. I also learned number 2 here and that I can earn more working on bounties than faucets which is why I started working and investing little by little altogether.

StarKay

member

Activity: 756

Merit: 16

We All Can Make It

Quote from: Lucius on April 10, 2018, 05:48:54 AM

I can agree that you named all important reasons why people hold BTC,and at this point I can not think of any other reason to add it to this list.I would say most people hold because speculative purpose and security,what's in a way connected.The idea of cryptocurrency itself is very tempting and fits perfectly in the digital age we live in.No one should blame anyone because he wants to realize his dreams,and if BTC is the path that leads to that, we can choose any of the reasons which you mentioned-"Success is not a destination, but the road that you're on"

Thank you Sir for finding my post meritable, Bitcoin has actually made many people's dream to come true and given others hope.
This is a Digital age and Bitcoin is the King of Digital currency.

Sudarmoon

newbie

Activity: 90

Merit: 0

Most people withhold the bitcoin usually they are investors who intend long-term investments, and they expect at a very high price to sell, with huge profits.

Cryptoswarm

newbie

Activity: 22

Merit: 0

I agree on your list but we are all sure there is just one right reason and that is the hodlgang. The hodlgang stays strong in all cases and we will hodl4ever

menggay16

member

Activity: 112

Merit: 10

Quote from: StarKay on April 10, 2018, 02:14:47 AM

Reasons people Hodl:

1. Speculative purpose - due to the spike in the fiat value of Bitcoin over the years, some believes the best way to make money is just to buy and Hodl Bitcoin.
2. Security - Some see Bitcoin as a means of securing their hard earned money not necessarily to make more money; this is especially the case in developing countries especially Nigeria where the value of the Naira usually depreciates overtime.
So rather than leave your money in the bank and see the value depreciate, why not buy some Bitcoins ☺
3. Trend - In some cliques Hodling is the trending thing; if you're not Hodling you don't belong. It's driven by a sense of being part of the next big thing.
4. Love - Some love everything about Bitcoin and the technology behind it (Blockchain). You can't blame them they're rich!
5. Forced - This is my last point, they bought Bitcoin at a high Fiat price and can't afford to let go at a loss so what choice do they have? Hold On to Dear Life 😕
What other reasons do you know?

I agree with your explanations. You have a lot of reassons that perhaps same of you are doing a good way of dealing with bitcoin today is what or the most effective way in which you are not inferior to the fact that you can be a strategy so that you will not mislead it untill eventually. Let's just look at the most effective way and knoledge especially in the trend of tradings that we will make us to earn a good profits on this even if in the short terms method or in a long term.

Lucius

legendary

Activity: 3234

Merit: 5637

Blackjack.fun-Free Raffle-Join&Win $50🎲

Quote from: StarKay on April 10, 2018, 02:14:47 AM

Reasons people Hodl:

1. Speculative purpose - due to the spike in the fiat value of Bitcoin over the years, some believes the best way to make money is just to buy and Hodl Bitcoin.
2. Security - Some see Bitcoin as a means of securing their hard earned money not necessarily to make more money; this is especially the case in developing countries especially Nigeria where the value of the Naira usually depreciates overtime.
So rather than leave your money in the bank and see the value depreciate, why not buy some Bitcoins ☺
3. Trend - In some cliques Hodling is the trending thing; if you're not Hodling you don't belong. It's driven by a sense of being part of the next big thing.
4. Love - Some love everything about Bitcoin and the technology behind it (Blockchain). You can't blame them they're rich!
5. Forced - This is my last point, they bought Bitcoin at a high Fiat price and can't afford to let go at a loss so what choice do they have? Hold On to Dear Life 😕
What other reasons do you know?

I can agree that you named all important reasons why people hold BTC,and at this point I can not think of any other reason to add it to this list.I would say most people hold because speculative purpose and security,what's in a way connected.The idea of cryptocurrency itself is very tempting and fits perfectly in the digital age we live in.No one should blame anyone because he wants to realize his dreams,and if BTC is the path that leads to that, we can choose any of the reasons which you mentioned-"Success is not a destination, but the road that you're on"

Kingofbitcoin12345

full member

Activity: 462

Merit: 102

I do agree on 4 out of 5,, subjectively on what you think is the reasons of most HODLERs.. But #4 phrase,, “you can’t blame them they’re rich” is logically untrue.. I am not rich and most investors who started hodling are not financially stable.. They just TRUST it because bitcoin show positive future for them and for their family..

In my opinion,, many are protesting against the government and our corrupt financial system that’s why it is their way of telling them on stopping and change or we stay away and you won’t profit from us..

Coinoisseur

sr. member

Activity: 336

Merit: 250

People hodling it because after they heared about peopel made 100-300x profit profit crypto they just boguht crypto and thinking they could make same as before

VitKoyn

full member

Activity: 490

Merit: 106

Quote from: StarKay on April 10, 2018, 02:14:47 AM

Reasons people Hodl:

1. Speculative purpose - due to the spike in the fiat value of Bitcoin over the years, some believes the best way to make money is just to buy and Hodl Bitcoin.
2. Security - Some see Bitcoin as a means of securing their hard earned money not necessarily to make more money; this is especially the case in developing countries especially Nigeria where the value of the Naira usually depreciates overtime.
So rather than leave your money in the bank and see the value depreciate, why not buy some Bitcoins ☺
3. Trend - In some cliques Hodling is the trending thing; if you're not Hodling you don't belong. It's driven by a sense of being part of the next big thing.
4. Love - Some love everything about Bitcoin and the technology behind it (Blockchain). You can't blame them they're rich!
5. Forced - This is my last point, they bought Bitcoin at a high Fiat price and can't afford to let go at a loss so what choice do they have? Hold On to Dear Life 😕
What other reasons do you know?

I have to agree with this list, people have different reasons why they keep holding their Bitcoin. What I think the most common reason why people are holding is #1 and #5, most of us keep holding even the price dropped a lot, is because we believe that the price of Bitcoin can still recover and possibly hit an new all time high, but some people are also stuck because they entered the market when it was on it highest price, so they have no choice but to hold an wait for the next bull run. The most least reason is #4, some people are just pretending that they love the technology behind Bitcoin but the truth is most are just here to make money.

supermine

hero member

Activity: 826

Merit: 518

Most of the people holding the bitcoin for its speculative purpose not for its technology or for the future use.Everyone think bitcoin is an money making tool in short term so they buy the bitcoin now and hoping for the price to increase and later they will sell them.But it is not the main purpose of bitcoin,bitcoin has given as the freedom to use money so we need to support bitcoin to reach its goal,if we use it as bump and dump coins,it will never reach its goal.

Infek

member

Activity: 280

Merit: 10

I think the most important reasons that people holding bitcoin, It is a belief that in the future it will bring them a much larger profit. Well, respectively, they believe in the technology itself blockchain.

bullet007

newbie

Activity: 64

Merit: 0

I think for today the fifth reason is basic. All just bought at very high prices, on time did not record a small loss and now hope for the best.

Kokondao

newbie

Activity: 167

Merit: 0

My reason for holding back is to invest in the long term and hope to get the peak of the highest bubble So that it can get huge profits.

21coin

hero member

Activity: 493

Merit: 500

Sarthak's a dumb girl

Quote from: wndrbr3d on April 10, 2018, 04:50:13 AM

I would had add the sixth reason: People are to lazy to study markets movements and mechanics. Then they just buy & hold BTC until price will go to the moon.

Probably the case for most of the bitcoin newbies. Most of the people new to the bitcoin scene are/were here because of the hype and haven't bothered to learn the market behind it.

wndrbr3d

hero member

Activity: 914

Merit: 500

I would had add the sixth reason: People are to lazy to study markets movements and mechanics. Then they just buy & hold BTC until price will go to the moon.

mOgliE

legendary

Activity: 1344

Merit: 1251

Hi,

I think it is hard (or even impossible) to draw such a list..

Everyone can have his personnal rreason to hold... You can hold because you have forgotte you had bitcoin, you can hold because you hope for a huge profit later on, you can hold because you want to invest in ^ promising projects...

This is also what is interesting about bitcoin: it is a currency. It is hard to use it currently in the real world, but digitally, you can do whatever you want out of it. And that's great!

akerner

newbie

Activity: 48

Merit: 0

reason #1 - i have no time for trading. I have job and it's just my hobby
reason #2 - i have no time for market analysis

Topic: Five Reasons People HODL Bitcoin (Read 291 times)