Topic: HODL, HOARD your cypto GOLD! All Hail the Hoarders! - page 5. (Read 4932 times)
In reality that could never happen and yes, hoarding does reduce supply in the market and will inadvertently brings up value of the coin. More over this would reduce the volatility we're seeing right now because everybody wants to hold on to the coins hoping that one day they will be able to sell at higher value. Again, this is the ideal scenario we want to see but despite all that, it will never happen because the community will never reach a consensus. People are more focused on quick selling and buying for short term gains.
I was one of the silly newbs that bought in late 2013 near the ATH. Despite the constant price dropping, I've been buying every paycheck for over a year now and hodling as much as I can. The amount of support, infrastructure and validation from companies like Overstock and Microsoft out-weighs the price performance. I've lost some to trading and gambling, but for the most I have just been building up a stash. It's only a matter of time before demand goes up again. The occasional visit to the bitoinrichlist.com is a good reminder that there aren't even 250k addresses with >1 BTC. We all know everyone has more than one address, so it would be safe to believe there are much less than 250,000 people with >1 BTC. Sure some people could have 0.3 on four different addresses but I think it's more likely that people who split their balance up among multiple addresses have larger holdings.
Bitcoin has lost more than 80% of its value this year! A lot of investors are worried about their losses, some has given up and some are confident of a great future and returns , with how bitcoin can change their lives..
Today I came across this Nakamoto institute article and I want to share my views and add to it..
http://nakamotoinstitute.org/mempool/im-hoarding-bitcoins-and-no-you-cant-have-any/
Who gained and who lost during these times?
Bitcoin comes under Distributed capitalism, which means we all have a role to play in bitcoin's success,
but a lot of people figure it very wrongly that bitcoin success depends on people actively spending all their bitcoin, buying them and then actively spend it all away , spread the word so that people come into the bitcoin world and bitcoin succeds as currency...
But it seems this model does not work for bitcoin to go mainstream
bitcoin related companies had huge venture capital investment, merchant adoption and news stories running everyday, but they all simply failed to help bitcoin even sustain the price and only contributed to bitcoin losing more than 80% of its value.
bitcoin only gained 1000x when these were not there!
What is really success for bitcoin?
An ideal success for bitcoin will be something around a million dollars per bitcoin, where the market cap is in trillions so that bitcoin will compete with petro dollar and become of use in high volume Forex trading..This is ideal success..
but we will never reach there with spending bitcoins but only by hodling or hoarding bitcoins..
who are those who promote spending and why you should ignore them?
They are mostly these merchant service processing companies and their clients and centralized bitcoin banks who like to see daily volume so that they make lot of money by cutting a part of your payment, getting bitcoins from you and then selling it for dollars. by this they are creating a selling pressure and thereby constantly make bitcoin price go down..it is clear they dont give a shit about bitcoin, or else why would they sell it for dollars, if they don't have the confidence..
Their companies are valued in millions and they are millionaires and they only will care about the growth of their company's market cap and not bitcoins market cap.
How do these people influence your mind?
These people have received millions of dollars to make people spend bitcoins, therefore they do all sorts of psychological manipulation to make you spend bitcoins..they make you feel bad if you hodl your bitcoin without spending by telling you that you are greedy, selfish, and that hodling bitcoin is bad if you do so..
after some years their companies will be valued in billions, they will become billionaires! but bitcoin will be caught in a price of 200-300$ forever and your life does not change!
But How does Hoarding bitcoins make it go to moon?
Yes! when a lot of people decide not to spend bitcoins the selling pressure goes down and bitcoin price will rise to moon and with any commodity that increases in price when it is hoarded!
bitcoin is often compared to internet early stage! now think how did dot com bubble happen and trillions were poured into internet? becuase people believed their investment would make them millionaires! that is what made internet a success!
similar trend is also seen in bitcoin! lot of interest in bitcoin whenever the price is increasing and no interest when the price is decreasing..
The google trend for bitcoin is an excellent proof of this phenomenon.
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!
Hold! Hoard your crypto GOLD!
Today I came across this Nakamoto institute article and I want to share my views and add to it..
http://nakamotoinstitute.org/mempool/im-hoarding-bitcoins-and-no-you-cant-have-any/
Who gained and who lost during these times?
Bitcoin comes under Distributed capitalism, which means we all have a role to play in bitcoin's success,
but a lot of people figure it very wrongly that bitcoin success depends on people actively spending all their bitcoin, buying them and then actively spend it all away , spread the word so that people come into the bitcoin world and bitcoin succeds as currency...
But it seems this model does not work for bitcoin to go mainstream
bitcoin related companies had huge venture capital investment, merchant adoption and news stories running everyday, but they all simply failed to help bitcoin even sustain the price and only contributed to bitcoin losing more than 80% of its value.
bitcoin only gained 1000x when these were not there!
What is really success for bitcoin?
An ideal success for bitcoin will be something around a million dollars per bitcoin, where the market cap is in trillions so that bitcoin will compete with petro dollar and become of use in high volume Forex trading..This is ideal success..
but we will never reach there with spending bitcoins but only by hodling or hoarding bitcoins..
who are those who promote spending and why you should ignore them?
They are mostly these merchant service processing companies and their clients and centralized bitcoin banks who like to see daily volume so that they make lot of money by cutting a part of your payment, getting bitcoins from you and then selling it for dollars. by this they are creating a selling pressure and thereby constantly make bitcoin price go down..it is clear they dont give a shit about bitcoin, or else why would they sell it for dollars, if they don't have the confidence..
Their companies are valued in millions and they are millionaires and they only will care about the growth of their company's market cap and not bitcoins market cap.
How do these people influence your mind?
These people have received millions of dollars to make people spend bitcoins, therefore they do all sorts of psychological manipulation to make you spend bitcoins..they make you feel bad if you hodl your bitcoin without spending by telling you that you are greedy, selfish, and that hodling bitcoin is bad if you do so..
after some years their companies will be valued in billions, they will become billionaires! but bitcoin will be caught in a price of 200-300$ forever and your life does not change!
But How does Hoarding bitcoins make it go to moon?
Yes! when a lot of people decide not to spend bitcoins the selling pressure goes down and bitcoin price will rise to moon and with any commodity that increases in price when it is hoarded!
bitcoin is often compared to internet early stage! now think how did dot com bubble happen and trillions were poured into internet? becuase people believed their investment would make them millionaires! that is what made internet a success!
similar trend is also seen in bitcoin! lot of interest in bitcoin whenever the price is increasing and no interest when the price is decreasing..
The google trend for bitcoin is an excellent proof of this phenomenon.
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!
Hold! Hoard your crypto GOLD!
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