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Topic: Hodlers will not change the world - page 25. (Read 4457 times)

legendary
Activity: 1904
Merit: 1074
June 29, 2018, 10:40:06 AM
#37
If this was the primary goal of Bitcoin, then we would have been at a price of $50,000 per bitcoin by now. The Lightning

Network would have been our first priority and a lot more people would have been using it by now. The price will increase over

time as adoption grows and the Lightning Network will be the driving force behind that growth. It is time for more people to

experiment with the Lightning Network and to experience what Bitcoin is really about.  Wink
hero member
Activity: 924
Merit: 502
CryptoTalk.Org - Get Paid for every Post!
June 29, 2018, 10:33:13 AM
#36
Who says anything about changing the world though. I doubt if hodlers even think about how their actions will affect the majority. It's plainly for self benefit that people hold. Either they have a long term target or they don't know what to do and would rather stay passive. And it's not easy to keep yourself calm and composed when you see the market going down and you're not doing anything about your money.
sr. member
Activity: 672
Merit: 250
June 29, 2018, 10:29:35 AM
#35
Very interesting, I don't know if the hodlers could change the world but it could reduce the panic selling tho which is good for the market I think. For me personally the world will change if there is no more war, and a terrible politicalism in each country.

That's a very wise idea when hodlers may change the world through suppressing coins dumps. Panic selling might be reduced, but it doesn't mean it stops the dip of market value particular on bitcoin price. After all long term holders nowadays were nosebleeded with the current status of the worst dipped price ever in history after the December bull run last 2017.
full member
Activity: 378
Merit: 100
June 29, 2018, 10:24:14 AM
#34
There are two opinions in the crypto world: some people consider cryptocurrencies digital gold, while others believe that cryptocurrencies will be used as means of payment.
 
The first idea is quite convenient. You can just do nothing. For the first time ever, doing nothing has actually become a heroic deed – people are proud to be hodlers, proud to do nothing with their cryptocurrency. But do you really believe this approach will change the world? Seriously?
 
Let’s be honest. Real crypto communities – there are few. There are few people who own cryptocurrency. The number is vanishingly small. Crypto prices will not grow while there are so few of us. The demand is just too small and there are no drivers of growth.
 
So, what should we do? Is there a reason to just sit and wait for cryptocurrencies to grow? I believe there is none. The only possible solution is that people actually start using crypto in their everyday lives. The number of crypto transactions should amount to hundreds of millions a day. Then, and only then, will cryptocurrencies grow in price.
 
Personally, I see no other options. However, this cannot be handled by one man alone. The whole crypto community should do this. You may ask: is it possible to live paying with cryptocurrencies only? Judging from our experience –  yes. Moreover, we have video proof: here is a story of a guy from Scotland https://www.youtube.com/watch?v=Gb_yVnkHSFs and here is a story of a guy from Thailand https://www.youtube.com/watch?v=l09U16Oqbck.
 
People will say I’m biased, since I founded a project where you can sell and buy goods for crypto. Yes, it’s true. Still, I’m more interested in expansion of cryptocurrencies than in my project’s expansion. In fact, I founded it for one simple reason: I’m sure that hodlers will never change the world. But we will. We should just learn from the guys in our videos who pay with cryptocurrencies in everyday life and make cryptocurrencies valuable.  




Yes it will not change the world but I think it can make their life better because if you hold bitcoin there's a chance that you will earn a large amount of money. Actually there are so many holders that is rich and successful now.
member
Activity: 165
Merit: 10
BitSong is a decentralized music streaming platfor
June 29, 2018, 10:21:52 AM
#33
this post is very interesting and not common, i agree your idea that hodling coin is just do nothing. we know that lot of people are now keep on hodl, waiting for the price to rise up. if so many people keep on holding then the movement of market is very low. and price move is hard to grow.
full member
Activity: 336
Merit: 112
June 29, 2018, 10:12:43 AM
#32
Well that is the goal and purpose of cryptocurrencies in general.

But, do you really think bitcoin is ready for that? We already know it's limits and weaknesses. The moment the network clogs, transaction fees skyrocket and speed gets really slow. Add that to a very volatile nature, it's no surprise that users and markets find it hard to use it as a payment system. We know these numbers, and guess what, that's nowhere near the numbers we'll reach if people use it, say, in amazon or even smaller online markets.

The development is just extremely slow. I do like to see cryptocurrencies do what it's meant to do, but I guess we'll still have to wait a couple more years for that.

I disagree with your point of view. You seem to be putting the cart before the horse. Bitcoin is not the only currency which can be used for making payments. If we take litecoin as an example, a coin which is technically just a more advanced version of bitcoin itself, there are no such issues as high transaction fees or slow confirmation times (and it has LN activated for over a year by now). But it is still not used widely. What does it tell us? Basically, that there is no demand for crypto as a means of payment, and this is the real problem.

Also, volatility is not an issue either as there are plenty of ways to make it irrelevant, which is what payment processors and gateways do on a daily basis.

I don't see why volatility is not an issue(though I'm open on being educated), I'm sure you know the pizza story. Even the day to day changes can be scary for a businessman.

In my opinion, for a cryptocurrency to be accepted widely as payment system, it needs to actually compete with existing payment systems, like paypal or visa. Transaction speed of most cryptocurrencies are nowhere near these payment systems. The fastest we have is ripple, but it has such a bad name I doubt people would use it.

Also, the low demand for cryptocurrencies as a payment system is not the problem, it's the effect of these problems.
legendary
Activity: 2114
Merit: 1293
There is trouble abrewing
June 29, 2018, 09:35:19 AM
#31
well, one view is that you are getting involved in a brand new technology at its very initial stage. this requires you to sometimes hold what you have bought and turn it into an "investment" of sorts but that doesn't have to be a bad thing in my opinion.
in the end it all comes down to what you see bitcoin as. if it is a currency that you see and you hold then you are doing fine, if it is a money machine that you are holding then that is the problem.
hero member
Activity: 924
Merit: 512
June 29, 2018, 09:33:14 AM
#30
In my opinion, everyone is entitled to do whatever they wish to do with their btc and base on the current situation where btc is in tremendous dips. Tendency is that they prefer to hodl their coins than using such currency as payment.  I think I don't agree with the topic where in hodlers cannot change the world since I believe it is the btc community that has the optimum voice that could change the world of cryptocurrency.

Holders will be able to change the marketplace value. Because of initial miners only bitcoin has been holded in some place to show the demand in the market mate. I too agree with your thoughts mate.

If you hold in the time bitcoin value dumped your support with the holding the market stable.
That is the actual growth from the earner and investors support.
sr. member
Activity: 742
Merit: 252
June 29, 2018, 09:27:43 AM
#29
The whole crypto world has huge volume. I always wondered where this comes from and what is the use of it.
I do agree. The buying power change the world of crypto. If we had 100x the buy power from, institutions, average investors, etc... The power of the currencies world would be seen in its huge volume.
copper member
Activity: 196
Merit: 0
June 29, 2018, 09:25:55 AM
#28
it's only depends upon the mood of investor .they will create a critical situation. if we will hold lot of  coins that results can price low because effects on projects.we should be hold for balancing the market.  
newbie
Activity: 238
Merit: 0
June 29, 2018, 09:20:28 AM
#27
Each has its own strategy of investing in the crypto currency.
Some are investing in order to become rich in ten years and have nothing to refuse. With such an investment, they withdraw from circulation a part of the cryptocurrency, which should raise its value.
Others - constantly play with the cost, thus they are trying to earn faster than holders, for the remainder of the currency.
There can not be 100% of one or the other, each thinks in different ways, trying to make money on the losses of another.
hero member
Activity: 742
Merit: 526
June 29, 2018, 09:19:44 AM
#26
Well that is the goal and purpose of cryptocurrencies in general.

But, do you really think bitcoin is ready for that? We already know it's limits and weaknesses. The moment the network clogs, transaction fees skyrocket and speed gets really slow. Add that to a very volatile nature, it's no surprise that users and markets find it hard to use it as a payment system. We know these numbers, and guess what, that's nowhere near the numbers we'll reach if people use it, say, in amazon or even smaller online markets.

The development is just extremely slow. I do like to see cryptocurrencies do what it's meant to do, but I guess we'll still have to wait a couple more years for that.

I disagree with your point of view. You seem to be putting the cart before the horse. Bitcoin is not the only currency which can be used for making payments. If we take litecoin as an example, a coin which is technically just a more advanced version of bitcoin itself, there are no such issues as high transaction fees or slow confirmation times (and it has LN activated for over a year by now). But it is still not used widely. What does it tell us? Basically, that there is no demand for crypto as a means of payment, and this is the real problem.

Also, volatility is not an issue either as there are plenty of ways to make it irrelevant, which is what payment processors and gateways do on a daily basis.
jr. member
Activity: 98
Merit: 1
June 29, 2018, 09:17:11 AM
#25
The traffickers have the full right to determine their attitude toward the market. If they want to sell or want to hold is their right, because they also will feel or enjoy whatever will happen.
newbie
Activity: 280
Merit: 0
June 29, 2018, 09:09:47 AM
#24
In my opinion, everyone is entitled to do whatever they wish to do with their btc and base on the current situation where btc is in tremendous dips. Tendency is that they prefer to hodl their coins than using such currency as payment.  I think I don't agree with the topic where in hodlers cannot change the world since I believe it is the btc community that has the optimum voice that could change the world of cryptocurrency.
copper member
Activity: 2324
Merit: 2142
Slots Enthusiast & Expert
June 29, 2018, 09:02:58 AM
#23
By holding alone, bitcoin cannot be the world p2p currency as explained in Satoshi whitepaper.
And that is the point OP is trying to make(by saying that bitcoin can't change the world if people will hold it). Have you even read the OP?

Before you bashing another person opinion, you should read it Sherlock!
sr. member
Activity: 1148
Merit: 300
June 29, 2018, 08:37:17 AM
#22
I believe it will not change the world but it can change status o f the crypto market. It can help the price to rise of we are going to hold. But i think only few of us do holding. Because everyone is now really on a panic situation which is everyone seems to be afraid about the continueous dropping of the price of the bitcoin and now the.marketvis really red.  I believe that It is all because of the panic sellers.and the volume of the investors is now maybe decreasing.
full member
Activity: 336
Merit: 112
June 29, 2018, 08:31:45 AM
#21
Well that is the goal and purpose of cryptocurrencies in general.

But, do you really think bitcoin is ready for that? We already know it's limits and weaknesses. The moment the network clogs, transaction fees skyrocket and speed gets really slow. Add that to a very volatile nature, it's no surprise that users and markets find it hard to use it as a payment system. We know these numbers, and guess what, that's nowhere near the numbers we'll reach if people use it, say, in amazon or even smaller online markets.

The development is just extremely slow. I do like to see cryptocurrencies do what it's meant to do, but I guess we'll still have to wait a couple more years for that.
newbie
Activity: 364
Merit: 0
June 29, 2018, 08:28:21 AM
#20
Bitcoin is designed to use as a currency. But many people use it as a invested platform.  It has been invented in two thousand nine. But it has become popular in last year when its price rustically go up and people consider it as an investment platform. At that time people think it as money making machine. But this concept is going to end. Now time has come to turn our concept from investment to mood of payment. If this concept spread among us then the user of bitcoin will increase and we the  user of bitcoin will be benefited.
full member
Activity: 476
Merit: 107
June 29, 2018, 08:25:41 AM
#19
By holding alone, bitcoin cannot be the world p2p currency as explained in Satoshi whitepaper.
And that is the point OP is trying to make(by saying that bitcoin can't change the world if people will hold it). Have you even read the OP?
The world will change, that is certain but do we really need to say that it is because of the crypto currencies?
We don't need to but those who believe it are free to do so. With the growth of blockchain tech and its adoption, it is inevitable that cryptocurrencies will improve as well and rise in price(because it is the first in the field to apply blockchain after all).
copper member
Activity: 2324
Merit: 2142
Slots Enthusiast & Expert
June 29, 2018, 08:21:24 AM
#18
In my opinion, use and replace >> holding. Holding still has some value in it because it helps disperse the supply. Let's say top-100 accounts own 25% of bitcoin is better than top-100 accounts own 50% of bitcoin. By holding alone, bitcoin cannot be the world p2p currency as explained in Satoshi whitepaper. I'm afraid bitcoin will be replaced by cryptocurrency that people frequently use.
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