a lot of influence and bad news that makes coin prices fall and is terrible and in my opinion you really seem to hold assets that can destroy other people's mental
HODL is one of the strategies in investing. Regardless of people's opinion, HODL includes business instincts that are combined with logical calculations, so when deciding to hold a coin for how long, it's a very sensible decision. When bitcoin is still cheap / worthless, everyone thinks it's rubbish. Except for those who have sharp minds who dare to invest as much as possible to have bitcoin, now just enjoy the benefits. Business is an instinct, which gets profit whose instinct is right.
Topic: HODL mentality destroys the currency aspect of Bitcoin (Read 980 times)
a lot of influence and bad news that makes coin prices fall and is terrible and in my opinion you really seem to hold assets that can destroy other people's mental
I think the low and high markets price is as a result of sometimes holders selling for fiat money to spend on daily products.Because there are not many places to spend cryptocurrency directly without converting into fiat money.So if ten people are holding 1btc each and one day they decide to sell and buy car,pay rent,pay hospital bills etc.This means that 10btc will be up for sale in the market that day.This has to the potential to bring the price of btc down on that day if ten new investors do not come into the market to look for 10btc to buy.This means that they will be bought cheap buy maybe existing investors who will take the opportunity. So if we want an only rise rise for btc,then we must work on making spending btc directly without converting.
The original idea of Bitcoin, the vision of Satoshi was awesome. How cool would it have been to be able to store your wealth on a USB stick for example. But the wrong people have gotten into Bitcoin, and all they do is manipulate people into holding, or selling.
Manipulation is getting strong and some whales take that opportunity to gain more when the others are losing. Anyway, that is investment and trading works and not all the time that we are wining. I'm pretty sure bitcoin won't grow if everyone are on holding, it works and moves only when there is transaction happen. Yes, that is how investment and trading works, and I doubt that this was the original idea of Satoshi. It's not used as a currency, too many people hold. Don't even want to buy pizza with it any more.
Since Bitcoin is finite, whale will never sell enough not to have control. They will always have that advantage.
The original idea of Bitcoin, the vision of Satoshi was awesome. How cool would it have been to be able to store your wealth on a USB stick for example. But the wrong people have gotten into Bitcoin, and all they do is manipulate people into holding, or selling.
Manipulation is getting strong and some whales take that opportunity to gain more when the others are losing. Anyway, that is investment and trading works and not all the time that we are wining. I'm pretty sure bitcoin won't grow if everyone are on holding, it works and moves only when there is transaction happen. Yes, that is how investment and trading works, and I doubt that this was the original idea of Satoshi. It's not used as a currency, too many people hold. Don't even want to buy pizza with it any more.
The original idea of Bitcoin, the vision of Satoshi was awesome. How cool would it have been to be able to store your wealth on a USB stick for example. But the wrong people have gotten into Bitcoin, and all they do is manipulate people into holding, or selling.
Manipulation is getting strong and some whales take that opportunity to gain more when the others are losing. Anyway, that is investment and trading works and not all the time that we are wining. I'm pretty sure bitcoin won't grow if everyone are on holding, it works and moves only when there is transaction happen. Yes, that is how investment and trading works, and I doubt that this was the original idea of Satoshi. It's not used as a currency, too many people hold. Don't even want to buy pizza with it any more.
Bitcoin is far away to be used as currency but the holding is not the reason. When Bitcoin reaches to vast majority of people and people the hodlers will get lower. After some people accept Bitcoin for daily shopping, than we can use Bitcoin as currency.
Yes, it is not easy to earn bitcoin if you don't buy with fiat or with other crytocurrencies. Not even with the so called mining of bitcoin. After buy some valuable amount of bitcoin too, it is very necessary you hodl and sell at a good price. I don't really know why this destroys bitcoin as a currency. Currencies are not volatile.
Aside from being a currency to pay, it is also a valuable asset so keeping it for a while is very easy to understand. I do not think that keeping Bitcoin will diminish its value but on the other hand it will also help Bitcoin to grow stronger due to the market demand.If you hold then you get only what you can. First you should fix the selling price so that when you get that price you should sell it. Like when the price went 20k that most of them not selling because they expected more and now they are felling what wrong they have done so fix Tue selling price and then proceed
Yes, it is not easy to earn bitcoin if you don't buy with fiat or with other crytocurrencies. Not even with the so called mining of bitcoin. After buy some valuable amount of bitcoin too, it is very necessary you hodl and sell at a good price. I don't really know why this destroys bitcoin as a currency. Currencies are not volatile.
Aside from being a currency to pay, it is also a valuable asset so keeping it for a while is very easy to understand. I do not think that keeping Bitcoin will diminish its value but on the other hand it will also help Bitcoin to grow stronger due to the market demand.Yes, it is not easy to earn bitcoin if you don't buy with fiat or with other crytocurrencies. Not even with the so called mining of bitcoin. After buy some valuable amount of bitcoin too, it is very necessary you hodl and sell at a good price. I don't really know why this destroys bitcoin as a currency. Currencies are not volatile.
Aside from being a currency to pay, it is also a valuable asset so keeping it for a while is very easy to understand. I do not think that keeping Bitcoin will diminish its value but on the other hand it will also help Bitcoin to grow stronger due to the market demand.It is simply the human nature, we want to hold what we have, while the wiser decision will be to make money working for your purposes. As investor you need to be able to turn money into actives.
quite agree. each person has his or her own mental and individual ability. we can not compare someone who really thinks about his money every time it is categorized he deserves to hold. but also many that are not realistic to the market. that's a choice from each other. a person must be ready and confident with what he did before he did it. it should,
Yes, it is not easy to earn bitcoin if you don't buy with fiat or with other crytocurrencies. Not even with the so called mining of bitcoin. After buy some valuable amount of bitcoin too, it is very necessary you hodl and sell at a good price. I don't really know why this destroys bitcoin as a currency. Currencies are not volatile.
Aside from being a currency to pay, it is also a valuable asset so keeping it for a while is very easy to understand. I do not think that keeping Bitcoin will diminish its value but on the other hand it will also help Bitcoin to grow stronger due to the market demand. For one thing, why spend your bitcoin or any other crypto currency when number one no one will accept it. Next if they're accepting they're inconvinient. Lastly why spend it now when you know that it will be more valuable in the future. We hold our coins so the currency will be stablilize. Once that happens then i would gladly use my holdings.
Exactly, most of the crypto people missed those opportunity in maintaining their profits, this mentality is a good example of giving your self a time to think weather you will invest or not, holding is not a waste of time but it is also a gaining sign.
The original idea of Bitcoin, the vision of Satoshi was awesome. How cool would it have been to be able to store your wealth on a USB stick for example. But the wrong people have gotten into Bitcoin, and all they do is manipulate people into holding, or selling.
Manipulation is getting strong and some whales take that opportunity to gain more when the others are losing. Anyway, that is investment and trading works and not all the time that we are wining. I'm pretty sure bitcoin won't grow if everyone are on holding, it works and moves only when there is transaction happen. I agree with you, since the price of the market is now on its dip state,Hold is not destroying the current aspect of bitcoin, it is an strategy to know weather the market will recover its price or it will continue to dip, its a sign from keeping you from giving your self a loss of funds, It is also good to know what is the best and not best to hold, always check the possibility of the coin to shoot up.
Yes, it is not easy to earn bitcoin if you don't buy with fiat or with other crytocurrencies. Not even with the so called mining of bitcoin. After buy some valuable amount of bitcoin too, it is very necessary you hodl and sell at a good price. I don't really know why this destroys bitcoin as a currency. Currencies are not volatile.
I dont think HODL mentality destroy the currency aspect. Bitcoin right now can not spend in many country. Peoples just holding bitcoin because waiting regulation from government comes out and able to spend their bitcoin. If regulation from government issued, I am believe bitcoin can be currency but many peoples wont spend it because its too valuable
I agree.It will only be the right time to spend bitcoins if the government would finally legalize the use of bitcoins as a payment system.Because even in my country,bitcoin is not known as a currency since it cannot be used directly to purchase goods,so for now most people settle to hold it first to make their investments grow in time too.
I dont think HODL mentality destroy the currency aspect. Bitcoin right now can not spend in many country. Peoples just holding bitcoin because waiting regulation from government comes out and able to spend their bitcoin. If regulation from government issued, I am believe bitcoin can be currency but many peoples wont spend it because its too valuable
I agree.It will only be the right time to spend bitcoins if the government would finally legalize the use of bitcoins as a payment system.Because even in my country,bitcoin is not known as a currency since it cannot be used directly to purchase goods,so for now most people settle to hold it first to make their investments grow in time too.
It is simply the human nature, we want to hold what we have, while the wiser decision will be to make money working for your purposes. As investor you need to be able to turn money into actives.
I dont think HODL mentality destroy the currency aspect. Bitcoin right now can not spend in many country. Peoples just holding bitcoin because waiting regulation from government comes out and able to spend their bitcoin. If regulation from government issued, I am believe bitcoin can be currency but many peoples wont spend it because its too valuable
For one thing, why spend your bitcoin or any other crypto currency when number one no one will accept it. Next if they're accepting they're inconvinient. Lastly why spend it now when you know that it will be more valuable in the future. We hold our coins so the currency will be stablilize. Once that happens then i would gladly use my holdings.
Jump to: