So you've decided that Bitcoin should be a store of value and not a medium of exchange? Ok, that's fine.
As it stands now, it seems you'd prefer a small group of people (those who are involved with Bitcoin today) hold it only. Not using it prevents new people from becoming introduced to it...it'll remain an insignificant technology novelty. However if it becomes as convenient and common as credit cards or email you'll gain the interest (and use) of the critical mass needed to make bitcoin a legitimate payment option.
You're not wrong in determining that if BTC is a medium of exchange the price volatility will diminish and the price won't rise as easily. You're not wrong that BTC could have great use as store of value. But you ignore the idea of how adoption increases if there's no way to convince the public that Bitcoin has relevance in today's economy. It's medium of exchange attributes prove that relevance. And we rely on that relevance to get the masses to adopt the idea.
Topic: HODL, HOARD your cypto GOLD! All Hail the Hoarders! - page 2. (Read 4932 times)
you can't be serious
Im holding, as a non developer and non whale there isnt much else that can be done.
So if you want bitcoin to succeed! just hold your bitcoins! dont spend them around! you may feel sad and bad if the 200$ you spent could be worth 1000$ tomorrow and that you threw them away cheaply!
No, no, NO! As a strong bullish long-term Bitcoin believer, I completely disagree
Even if you consider your bitcoins as long term investment, rather than spending money - what do you think will help raising the value of your precious bitcoins more:
- 1. Hodling your bitcoins and spending USD, thus only stimulating the USD economy
or
- 2. Spending your bitcoins, thus stimulating the BTC economy, and immediately buying back new bitcoins (on exchange or circle or whatever), thus increasing demand for Bitcoin on the market.
Notice that the end result is the same: you essentially purchased some stuff, lost some USD, and kept your BTC. But with option nr. 2, you're actively helping to raise the Bitcoin price level on two ends: Bitcoin economy AND market demand. I really don't understand why even the most fanatic Bitcoin owners don't seem to get this
Especially if you're a Bitcoin fan, believer, enthusiast, investor, or hodler, SPEND THEM! (And immediately refill your stash of bitcoins by buying new ones with fiat)
By just sitting on your coins, instead of using them, Bitcoin won't grow! Spend them, and buy back at the same time.
I got to be rich to do that..buy an xbox with usd for 300$ or else buy with btc for 600$(to buy equal btc again)
Let's assume you bought 10 BTC for USD 1000 each last year.
Now, you want to buy an Xbox.
Scenario 1:
You buy it with fiat.
You spend 300 USD.
(-10.000)+(-300)=-10.300 [USD]
10 = 10 BTC
Scenario 2:
You buy with BTC and replenish. Assume 1 BTC=300 USD
(-10.000)+(-300)=-10.300 [USD]
10-1+1=10 BTC
Have you lost any money in Scenario 2? No
But you have stimulated BTC-economy.
Have you put selling pressure on the BTC-market? No. The merchant has sold 1 BTC, but you have bought 1 BTC, which nullifies:
(-1)+1=0
WHAT?
This makes no sense to me. Assume BTC was 10.000 and is now 300? what?If you buy an Xbox for 300 USD then you are down 300
If you buy an Xbox with 1BTC (worth 300 USD) and then buy 1BTC (at 300USD) then you are down 600.
FUCKING IDIOT
If everyone is hoarding then whats the point of the damn thing.
The point, my dear smallfolk friend, is patience.Unfortunately, hoarding is a game of chicken. If everyone hoards, then the price will crash when they finally sell and the patient people will lose everything.
Be it as it may, bitcoin price can only rise if there is demand for the coin. And demand means hoarding.
If everyone is hoarding then whats the point of the damn thing.
The point, my dear smallfolk friend, is patience.Unfortunately, hoarding is a game of chicken. If everyone hoards, then the price will crash when they finally sell and the patient people will lose everything.
If everyone is hoarding then whats the point of the damn thing.
The point, my dear smallfolk friend, is patience. why spend Bitcoin now when it will be worth $10,000 per coin in a few years?
Because by spending Bitcoin now (and buying back the same amount of coins right away), you actually help Bitcoin growing, thus actively helping the price level going to $10K.for that u need to have a lot of money
No you don't. When you buy something, use Bitcoin instead of cash, credit card, or debit card. Then use the money you didn't spend to buy more bitcoins.
You will always have the same amount of bitcoins, so you are still holding/hoarding/hodling, and you using bitcoins and pushing up the value.
why spend Bitcoin now when it will be worth $10,000 per coin in a few years?
Because by spending Bitcoin now (and buying back the same amount of coins right away), you actually help Bitcoin growing, thus actively helping the price level going to $10K.for that u need to have a lot of money
why spend Bitcoin now when it will be worth $10,000 per coin in a few years?
Because by spending Bitcoin now (and buying back the same amount of coins right away), you actually help Bitcoin growing, thus actively helping the price level going to $10K. If everyone is hoarding then whats the point of the damn thing. Its just a speculative instrument and nothing else.
why spend Bitcoin now when it will be worth $10,000 per coin in a few years?
no one knows how you can say that ? and its risk little more then any other currency when japan got tusami still its currency value did not drop 80% as i said it risk more then any other currency its up to you if you wanna hold then hold
And one more thing: some people seem to think that the opposite of hodling, is spending. Not true. The opposite of hodling is dumping your coins on the exchange market.
If you spend bitcoins (as in, actually use them) and buy back the same amount right away, you're essentially still hodling AND promoting / stimulating Bitcoin at the same time.
The more you use Bitcoin, the more recognition it will get, and the bigger this thing will become. Sitting silently on your stash is not helping Bitcoin the slightest bit.
If you spend bitcoins (as in, actually use them) and buy back the same amount right away, you're essentially still hodling AND promoting / stimulating Bitcoin at the same time.
The more you use Bitcoin, the more recognition it will get, and the bigger this thing will become. Sitting silently on your stash is not helping Bitcoin the slightest bit.
But it depends where you spend. If you're spending at a place that instantly converts the bitcoin back into fiat, then you actually didn't help bitcoin much by buying with it. You just got it sold into US dollars and more US dollars used.
So I would recommend 1.) HODLing as the OP says, or 2.) spending at places that hold the bitcoin and don't instantly sell it.
I disagree. Even if you spend it at places who convert to EUR or USD, as long as you also buy back the same amount of bitcoins you spend, you're not increasing selling pressure. And you help Bitcoin by increasing volume of Bitcoin consumer sales. So I would recommend 1.) HODLing as the OP says, or 2.) spending at places that hold the bitcoin and don't instantly sell it.
As one of the organizers of Arnhem Bitcoincity, I have spoken quite some merchants who are saying: right now I still convert to euros, because I pay my costs and staff in euros. But I notice how I can spend bitcoins at more and more places. So, I will soon accept bitcoins and keep them, so I can spend them directly, and the whole conversion with euros won't be necessary anymore.
This whole thing with merchants converging to fiat is a migration phase. As soon as there is a significant amount of places where they can spend their bitcoins, they'll get aware of the advantage of Bitcoin - not just accepting them (as a service to their customers or means of getting media exposure) but also for actually using it themselves.
Again: spending bitcoins and buying back the same amount is always better than just hodling your coins and spending fiat. EVEN at places that convert to fiat.
Encouraging others to HODL =
I am already overinvested and cannot buy anymore, plz buy up the price for me so that i can unload my bags to you anywhere near my breakeven point!
I am already overinvested and cannot buy anymore, plz buy up the price for me so that i can unload my bags to you anywhere near my breakeven point!
Haha, that's quite true. I'm a permabull (bitcoin enthusiast) for sure, and not embarrassed to admit it. However it's also true that encouraging others to SODL = I have already sold and am looking to buy moar lower so please dump the price.
The price does need to go up in order for it to be more useful in general. There is a lot of wealth in the world and bitcoin needs to be worth orders of magnitude more than it is now in order to be able to be used to account for a portion of it. The price does matter but surviving low prices is what bitcoin has done best so far.
Some will hold, some will sell, some will scream hodl!1!! and others will beat their fingers into nubs that it is dying or already dead. It doesn't matter. Most early adopters (protip-this is still early adoption) won't get overly rich as everyone has their price to sell along with the pressures of their immediate needs and unlimited desires.
Encouraging others to HODL =
I am already overinvested and cannot buy anymore, plz buy up the price for me so that i can unload my bags to you anywhere near my breakeven point!
I am already overinvested and cannot buy anymore, plz buy up the price for me so that i can unload my bags to you anywhere near my breakeven point!
OP just went full retarded, never go full retarded.
No, no, NO! As a strong bullish long-term Bitcoin believer, I completely disagree
Even if you consider your bitcoins as long term investment, rather than spending money - what do you think will help raising the value of your precious bitcoins more:
Notice that the end result is the same: you essentially purchased some stuff, lost some USD, and kept your BTC. But with option nr. 2, you're actively helping to raise the Bitcoin price level on two ends: Bitcoin economy AND market demand. I really don't understand why even the most fanatic Bitcoin owners don't seem to get this
Especially if you're a Bitcoin fan, believer, enthusiast, investor, or hodler, SPEND THEM! (And immediately refill your stash of bitcoins by buying new ones with fiat)
By just sitting on your coins, instead of using them, Bitcoin won't grow! Spend them, and buy back at the same time.
I second that.
So if you want bitcoin to succeed! just hold your bitcoins! dont spend them around! you may feel sad and bad if the 200$ you spent could be worth 1000$ tomorrow and that you threw them away cheaply!
No, no, NO! As a strong bullish long-term Bitcoin believer, I completely disagree
Even if you consider your bitcoins as long term investment, rather than spending money - what do you think will help raising the value of your precious bitcoins more:
- 1. Hodling your bitcoins and spending USD, thus only stimulating the USD economy
or
- 2. Spending your bitcoins, thus stimulating the BTC economy, and immediately buying back new bitcoins (on exchange or circle or whatever), thus increasing demand for Bitcoin on the market.
Notice that the end result is the same: you essentially purchased some stuff, lost some USD, and kept your BTC. But with option nr. 2, you're actively helping to raise the Bitcoin price level on two ends: Bitcoin economy AND market demand. I really don't understand why even the most fanatic Bitcoin owners don't seem to get this
Especially if you're a Bitcoin fan, believer, enthusiast, investor, or hodler, SPEND THEM! (And immediately refill your stash of bitcoins by buying new ones with fiat)
By just sitting on your coins, instead of using them, Bitcoin won't grow! Spend them, and buy back at the same time.
But it depends where you spend. If you're spending at a place that instantly converts the bitcoin back into fiat, then you actually didn't help bitcoin much by buying with it. You just got it sold into US dollars and more US dollars used.
So I would recommend 1.) HODLing as the OP says, or 2.) spending at places that hold the bitcoin and don't instantly sell it.
lol such grandure irony and truth from this thread
The same ones yelling to the heavens 'HODL' (basically ever other thread on here) and hoarding along the way are doing nothing but destroying the value and economy of the very currency they want to 'get rich quick' off of. Haha. What a conundrum. It shows they truly couldn't give a rats ass about the actual technology itself, and will dump and gtfo as soon as there's signs of some quick cash.
Sad to say, but daily market shorters are pretty much the only thing keeping bitcoin buoyant at this time. The amount of people spending it daily in real life applications pales in comparison to those holding hoping for a giant payday. The system has become exactly what Satoshi feared but most likely suspected it would inevitably become: a psychological game of greed.
The same ones yelling to the heavens 'HODL' (basically ever other thread on here) and hoarding along the way are doing nothing but destroying the value and economy of the very currency they want to 'get rich quick' off of. Haha. What a conundrum. It shows they truly couldn't give a rats ass about the actual technology itself, and will dump and gtfo as soon as there's signs of some quick cash.
Sad to say, but daily market shorters are pretty much the only thing keeping bitcoin buoyant at this time. The amount of people spending it daily in real life applications pales in comparison to those holding hoping for a giant payday. The system has become exactly what Satoshi feared but most likely suspected it would inevitably become: a psychological game of greed.
This sums it up pretty good.
Let the dumb newbs play the game... smart money is in the future... Hodl
would not know well what will happen in the future, hopefully as 2009 and into 2013. and I will hold
Yep.
lol such grandure irony and truth from this thread
The same ones yelling to the heavens 'HODL' (basically ever other thread on here) and hoarding along the way are doing nothing but destroying the value and economy of the very currency they want to 'get rich quick' off of. Haha. What a conundrum. It shows they truly couldn't give a rats ass about the actual technology itself, and will dump and gtfo as soon as there's signs of some quick cash.
Sad to say, but daily market shorters are pretty much the only thing keeping bitcoin buoyant at this time. The amount of people spending it daily in real life applications pales in comparison to those holding hoping for a giant payday. The system has become exactly what Satoshi feared but most likely suspected it would inevitably become: a psychological game of greed.
The same ones yelling to the heavens 'HODL' (basically ever other thread on here) and hoarding along the way are doing nothing but destroying the value and economy of the very currency they want to 'get rich quick' off of. Haha. What a conundrum. It shows they truly couldn't give a rats ass about the actual technology itself, and will dump and gtfo as soon as there's signs of some quick cash.
Sad to say, but daily market shorters are pretty much the only thing keeping bitcoin buoyant at this time. The amount of people spending it daily in real life applications pales in comparison to those holding hoping for a giant payday. The system has become exactly what Satoshi feared but most likely suspected it would inevitably become: a psychological game of greed.
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