I went to a bitcoin meetup Many people there had bitcoin, no-one actually use it - page 2.

Chikito

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Quote from: jonathan6655321 on June 25, 2019, 01:14:12 AM

I don't use my bitcoins as well and in some way, I think that the hodl approach is hurting us. I would like to know what the community here thinks.

Same here, I don't touch my Bitcoin about 3 Month, since Aprill fool when joke about bitcointalk KYC here.
I was look something happen next, then true, something happen bitcoin price step by step growing up like grazy. Look people hodl them asset for along time.

Apes

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Quote from: AmoreJaz on June 26, 2019, 04:10:19 PM

Quote from: Apes on June 26, 2019, 12:10:36 PM

when the BTC price continues to soar then why should they sell or use BTC. this principle were nailed on BTC owners who prefer to hold compared to using it. because the owner confidence see the current market will provide multiple profits in future. if they use or sell now they are throwing away the chance which they always look forward to.

most of the btc holders will only use it if its really necessary to cash out. otherwise they will keep building their btc portfolio. that is one glitch in mass adoption. if you are a long time btc holder, are you going to spend it for your daily necessities?

when the market is bullish like this. as long as I still have cash, I choose to keep BTC in my wallet. if indeed because of an important daily need I will inevitably sell it, but not sell all of my BTC deposits, maybe only partially according to my needs.
in my opinion, this principle is widely applied by current BTC holders.

Indrawan77

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The best way to help bitcoin to growth is actually by spending it, with increasing transaction volume it will help the price become better, holding too long will make the flow become stagnant and halt the increasing value, but to be honest to make people spend it, bitcoin need to be more stable, people need to treat bitcoin as a currency not as an asset

Carlton Banks

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Quote from: figmentofmyass on June 25, 2019, 02:04:31 AM

why spend bitcoin when you could spend your quickly inflating fiat money instead? bad money drives good money out of circulation.

this is wrong

you can't spend all your fiat and once, which means there's always an amount of time while it sits around losing value

unless you just switch all your fiat for a decent asset the instant you receive it. Ask anyone who's experienced bad inflation. Even in countries with inflation that's not so bad, people put any spare fiat into property

that's exactly how real people really behave in actual real life, which is the opposite of what Gresham said.

hahahafr

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We are in a short bull run of bitcoin mate, actually many crypto investors would not want to sell their bitcoins at this point in time. Don't blame them also either you know, how many retail points or marketplaces accept bitcoin as payment for goods bought? in the future we hope things get better so that we can use our bitcoins in our daily transactions.

AmoreJaz

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Quote from: Apes on June 26, 2019, 12:10:36 PM

when the BTC price continues to soar then why should they sell or use BTC. this principle were nailed on BTC owners who prefer to hold compared to using it. because the owner confidence see the current market will provide multiple profits in future. if they use or sell now they are throwing away the chance which they always look forward to.

most of the btc holders will only use it if its really necessary to cash out. otherwise they will keep building their btc portfolio. that is one glitch in mass adoption. if you are a long time btc holder, are you going to spend it for your daily necessities?

oseikuf44

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I know dozen of investors that claim to be holding their coins till it reaches that prices they bought them otherwise they are willing to hold it even ten years. Not all bitcoin investors consume their coins.

Apes

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when the BTC price continues to soar then why should they sell or use BTC. this principle were nailed on BTC owners who prefer to hold compared to using it. because the owner confidence see the current market will provide multiple profits in future. if they use or sell now they are throwing away the chance which they always look forward to.

AjithBtc

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Most of the users have the similar mentality to keep hold of the bitcoin to profit in the long run as the growth with bitcoin is promising. In a survey about the holding of bitcoin, it is recorded on an average the holding period is at least five years. By the duration if they find the price to reach big they make use of the same.

ityandsyn

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Quote from: jonathan6655321 on June 25, 2019, 01:14:12 AM

I went to a bitcoin meetup in my town (I'm going every few weeks for almost 2 years)
Because the market is rising now I somehow got into a talk with like 8 people about what they did recently or plan to do with their bitcoins.

All of them didn't touch their portfolio since the beginning of 2018
They didn't even use it for a small transaction.

there is a topic that always someone mentions and that's 'Why would I use bitcoin to buy something today when in two months from now my bitcoin might worth double'

I don't use my bitcoins as well and in some way, I think that the hodl approach is hurting us. I would like to know what the community here thinks.

Yes that's true many bitcoin holders are just keeping their bitcoin in their wallet but if you meet up other areas like gambling community , in which BTH and ETH are prequently using in betting of sports so here you will learn the importance of BTC and ETH .

kr105

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Quote from: jonathan6655321 on June 25, 2019, 01:14:12 AM

All of them didn't touch their portfolio since the beginning of 2018
there is a topic that always someone mentions and that's 'Why would I use bitcoin to buy something today when in two months from now my bitcoin might worth double'

Honestly, i also have the same mentality these days. Why would i use my BTC now? Obviously it’s price will get bigger, there is a high chance for that. For now, it’s better to hold but i should say that it’s also very clear for me one day we will start using it.

cipherhut

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Holding Bitcoin has one benefit and one drawback - Benefit is, holding Bitcoin at this situation is always profitable and Bitcoin Bullrun is on its peak. The drawback is holding Bitcoin is decreasing its flow in the market and because of which many people are still unaware of the Bitcoin utility.

Lily_Olive

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Not a big deal.. actually the main thing is that this is common mindset of people in the street people.. basically they dnt want any change.. so thats why they are just doing like that...

figmentofmyass

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Quote from: avikz on June 25, 2019, 03:07:13 AM

HODL approach is definitely hurting us, but we are also helpless in this case because we can't find any single place to spend that bitcoins!

is it really hurting us? i really think the fears over hoarding are exaggerated. granted, for bitcoin to have utility, people need to transact. but does everyone need to transact all the time? no!

even if the majority of users were hodlers and hardly ever used their coins, there will always be people transacting. bitcoin provides censorship resistance, cross-border remittance, privacy, fast and secure settlement, irreversibility, and more. people aren't gonna stop transacting with it. it doesn't matter if there's a lack of merchants who accept it right now.

Leonardo7

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I have come to the realization that not using one's crypto asset will actually not help the price movement, it's when it's been used or traded that it worth will be determined and more investors will be attracted, just holding won't help anyone as it can even kill the price, money needs to exchange hands

Janation

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There are those people that use it and there are those that just holds it.

Saying that I think the people who use it and hold it has the balance and I think, for now, it won't affect the price. A lot of people are waiting for the price of BTC to pump, and if does happen, most of the people don't use it usually they hold it and I think that affects the price. The more people hold Bitcoin, the more it will affect the price.

valentin68

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I will tell you why is necessary to use your bitcoin even when its value is going up.
Say that you want to buy something from a country with very wise people. Say that you want to buy their knowledge.

What possibility to pay for this knowledge do you have? You can pay with PayPal, or you can pay with Bitcoin. What would you use?
Some people will pay with PayPal some people will pay with Bitcoin.

bitbunnny

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Actually I'm one of those who believe that Bitcoin should be actively used. There is no real purpose of it if it just stays idle in some wallet. Bitcoin is not only investment that you forget about once you put your money in. It should be used as a payment method, for transactions.
I think that people often forget that Bitcoin has its use in real world too and if we don't promote it with the actual concrete use why how can we expect some mass adoption and wide masses interest for Bitcoin and other cryptocurrencies.

Rufsilf

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Well, good point, if I was in their place and they don't have anything to spend it with then I would hold it until the next bull run. In my case however, there are times that I will exchange to fiat if there is something important the comes up but as much as possible I want to save it.

Kakmakr

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I have a 80%/20% strategy that works very well for me. I Hodl 80% of all the coins I buy and then spend 20% as a currency to pay for goods and services. This way I support the merchant network and I still manage to "save" most of the coins I buy.

Yes, if we stop using Bitcoin as a currency, merchants will stop accepting it and then the demand for Bitcoin will go down and the price will go down to. So having a split strategy like this, helps Bitcoin to thrive. Wink

If you buy things online and the site supports Bitcoin payment, just convert those funds to Bitcoin and pay with Bitcoin. Why do you have to use your credit card, if Bitcoin payments are more secure for eCommerce?

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