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Topic: Storing of Bitcoins is against Bitcoin. - page 12. (Read 41825 times)

hero member
Activity: 770
Merit: 500
Bazinga!
November 13, 2016, 12:20:33 AM
I agree to disagree with your post. You just can't keep storing and you cant just keep spending it. There something known as balance. If all would only sell price would go down as supply would be more than demand and on other hand if every one only stored prices would go up as supply would be low and demand high. But if you go to see its a balance world. People are spending and saving to. So you can't dictate terms and say sell sell or store store. It's a free world and it's better kept that way. What you could instead suggest is to sell when prices are high or for high returns in a project.

In my opinion bitcoin was developed as a way to create and transfer money. For everybody.
I don't think that it was intended to be a form of investment.
So in general I would be happy if people used it as payment whenever possible.
I think it's the fact that companies accept bitcoin as a payment why bitcoin is the most important crypto currency. And I would like it to stay that way for a while.

Indeed it was created for payment purposes, but it was definitely not to be limited for only payment purposes. Over a period it evolved and people used it very well. We live in a progressive time and have to evolve and we can't be stuck to old methods. Change is permanent, so I feel people should not stress whether it's yet investment or payment. People are smart enough to decide so let's keep it that way.

exactly because bitcoin was meant for payment purposes we have to store it!

because simply you can take a look around and see that there is not enough places where you can spend bitcoin, it is not yet accepted by the merchants which makes it hard to spend but easy to store and take the profit.
hero member
Activity: 2646
Merit: 686
November 12, 2016, 11:42:32 PM
I agree to disagree with your post. You just can't keep storing and you cant just keep spending it. There something known as balance. If all would only sell price would go down as supply would be more than demand and on other hand if every one only stored prices would go up as supply would be low and demand high. But if you go to see its a balance world. People are spending and saving to. So you can't dictate terms and say sell sell or store store. It's a free world and it's better kept that way. What you could instead suggest is to sell when prices are high or for high returns in a project.

In my opinion bitcoin was developed as a way to create and transfer money. For everybody.
I don't think that it was intended to be a form of investment.
So in general I would be happy if people used it as payment whenever possible.
I think it's the fact that companies accept bitcoin as a payment why bitcoin is the most important crypto currency. And I would like it to stay that way for a while.

Indeed it was created for payment purposes, but it was definitely not to be limited for only payment purposes. Over a period it evolved and people used it very well. We live in a progressive time and have to evolve and we can't be stuck to old methods. Change is permanent, so I feel people should not stress whether it's yet investment or payment. People are smart enough to decide so let's keep it that way.
copper member
Activity: 1330
Merit: 899
🖤😏
November 12, 2016, 09:24:48 PM
Are you saying bitcoin will vanish away if we don't spend our coins? I think as ling as anyone willing to offer any thing with value in exchange for bitcoin we could relax and store as much as we like.
hero member
Activity: 1190
Merit: 534
November 12, 2016, 09:21:50 PM
I have simple solution for this,

  • You hold 1 BTC.
  • You spend 0.10 for your needs (previously using fiat for this expenditure).
  • You buy 0.10 with fiat currency (skipped in step 2).

Now, at the end of the day, you are helping the bitcoin network to grow by creating a movement of bitcoin by using it for your expenditure and still you are holding your whole bitcoin.

But not all the time your needs can be bought with bitcoin so still, that is kinda hassle way of helping the adoption of bitcoin. Why not just simply hold some bitcoins and while you have your own fund for it. Have also a fund for usage, consumption and anything you can avail just like buying some alt coins then you are already helping the bitcoin network to grow.

Yes, I can agree with this. There are almost no offline stores in my country where bitcoin is accepted. I am able to spend bitcoins only on the internet at this moment but still I believe this picture is going to change soon. Yes buying altcoins can also help bitcoin but to be honest, we are in love with bitcoin and it would be like having an extra-marital affair if we are using any other coin (just kidding).
sr. member
Activity: 364
Merit: 250
November 12, 2016, 07:12:28 PM
We do store gold and fiat and those doesnt affect the value of them, why would bitcoin affect, i know that transactions are what makes bitcoin alive, but there is enought bitcoins into circulation.

I agree I do not think its very bad or something its just how you are looking towards it if you are asking me.

In one side if most people hold the coins, the price will increase year after year and that's good to investors.

In the other side if none spend the coin, the cryptocurrency will be useless, so we have to find a balance here. I think we already find.
member
Activity: 75
Merit: 10
November 12, 2016, 12:53:33 PM
We do store gold and fiat and those doesnt affect the value of them, why would bitcoin affect, i know that transactions are what makes bitcoin alive, but there is enought bitcoins into circulation.

I agree I do not think its very bad or something its just how you are looking towards it if you are asking me.
hero member
Activity: 756
Merit: 501
November 12, 2016, 12:37:24 PM
We do store gold and fiat and those doesnt affect the value of them, why would bitcoin affect, i know that transactions are what makes bitcoin alive, but there is enought bitcoins into circulation.
hero member
Activity: 784
Merit: 1000
November 12, 2016, 12:32:19 PM
No, it isn't against Bitcoin's protocol to store some part or all of your Bitcoins. The fact is it is made to be used and not everyone can afford to store it for longer periods of time in large quantity. It is like every other field a mix of stockist and traders which is real beauty of it which makes it really valuable in my opinion.
member
Activity: 78
Merit: 10
November 12, 2016, 12:01:31 PM
Yes bitcoin is developed for transaction purpose but people are using it for trading and making profit by holding so it's against bitcoin's motive. well trading is acceptable out has no negative effects but holding makes the price rise up and small buyer like me can't afford to buy bitcoin.

It maybe indeed is for transactions but this is applying for every currency on the planet so I think that holding is not bad and that we can do it without any worry, its good to hold some bitcoin for the future.
full member
Activity: 154
Merit: 100
November 12, 2016, 11:50:40 AM
Yes bitcoin is developed for transaction purpose but people are using it for trading and making profit by holding so it's against bitcoin's motive. well trading is acceptable out has no negative effects but holding makes the price rise up and small buyer like me can't afford to buy bitcoin.
hero member
Activity: 910
Merit: 501
November 12, 2016, 11:25:55 AM
I agree to disagree with your post. You just can't keep storing and you cant just keep spending it. There something known as balance. If all would only sell price would go down as supply would be more than demand and on other hand if every one only stored prices would go up as supply would be low and demand high. But if you go to see its a balance world. People are spending and saving to. So you can't dictate terms and say sell sell or store store. It's a free world and it's better kept that way. What you could instead suggest is to sell when prices are high or for high returns in a project.

In my opinion bitcoin was developed as a way to create and transfer money. For everybody.
I don't think that it was intended to be a form of investment.
So in general I would be happy if people used it as payment whenever possible.
I think it's the fact that companies accept bitcoin as a payment why bitcoin is the most important crypto currency. And I would like it to stay that way for a while.
hero member
Activity: 2646
Merit: 686
November 12, 2016, 11:18:23 AM
I agree to disagree with your post. You just can't keep storing and you cant just keep spending it. There something known as balance. If all would only sell price would go down as supply would be more than demand and on other hand if every one only stored prices would go up as supply would be low and demand high. But if you go to see its a balance world. People are spending and saving to. So you can't dictate terms and say sell sell or store store. It's a free world and it's better kept that way. What you could instead suggest is to sell when prices are high or for high returns in a project.
hero member
Activity: 3024
Merit: 745
Top Crypto Casino
November 12, 2016, 10:53:10 AM
I have simple solution for this,

  • You hold 1 BTC.
  • You spend 0.10 for your needs (previously using fiat for this expenditure).
  • You buy 0.10 with fiat currency (skipped in step 2).

Now, at the end of the day, you are helping the bitcoin network to grow by creating a movement of bitcoin by using it for your expenditure and still you are holding your whole bitcoin.

But not all the time your needs can be bought with bitcoin so still that is kinda hassle way of helping the adoption of bitcoin. Why not just simply hold some bitcoins and while you have your own fund for it. Have also a fund for usage, consumption and anything you can avail just like buying some alt coins then you are already helping the bitcoin network to grow.
hero member
Activity: 756
Merit: 500
November 12, 2016, 09:43:22 AM
People does store gold, and do you think those affect those marketplace? No, it doesnt affect, soo why would it affect bitcoin, be sure some people still hold their coins and wont sell them anything lower then 1000 dollars, and there is 7 years of bitcoin, and people will wait more time to dump them.
the difference is that gold is already known in the world. bitcoin is not. to make bitcoin known we need a growing ecosystem and therefore transactions. let us say you have invented a new coin or found a new precious metal. but only you know about it. what is the value of it? also bitcoin is supposed to be money, which is invented so we can trade. so why would you not want to use it?   

The question isnt people dont wanna to use them, the question is people does wanna to maximize their earning, and if you bought last year bitcoin at 250 dollars currently you are near to make 300% and at 2020 it should reach 400% from those, why people would dump their coins to keep the circulation, there are enought coins for transactions.

Actually if you spend it in some good that the trader don't wanna sell the coins for fiat, the price will stay, truth is, bitcoin price is regulated by chinese holders that have a lot in their hands, we are just here like a fish swimming with the wales.

Indeed they are basically a lot of the stuff needed will definitely easily play prices. But that all is not a problem for those of us who can do something good in the bitcoin, bitcoin is not just a matter of trading but bitcoin also reserved investments, transactions, etc. So if China is doing better then the price game save funds and wait until the price is high or stable. For if we do not do that then it would be bad
hero member
Activity: 1190
Merit: 534
November 12, 2016, 02:28:41 AM
I have simple solution for this,

  • You hold 1 BTC.
  • You spend 0.10 for your needs (previously using fiat for this expenditure).
  • You buy 0.10 with fiat currency (skipped in step 2).

Now, at the end of the day, you are helping the bitcoin network to grow by creating a movement of bitcoin by using it for your expenditure and still you are holding your whole bitcoin.
sr. member
Activity: 420
Merit: 250
November 12, 2016, 02:07:34 AM
People does store gold, and do you think those affect those marketplace? No, it doesnt affect, soo why would it affect bitcoin, be sure some people still hold their coins and wont sell them anything lower then 1000 dollars, and there is 7 years of bitcoin, and people will wait more time to dump them.
the difference is that gold is already known in the world. bitcoin is not. to make bitcoin known we need a growing ecosystem and therefore transactions. let us say you have invented a new coin or found a new precious metal. but only you know about it. what is the value of it? also bitcoin is supposed to be money, which is invented so we can trade. so why would you not want to use it?   

The question isnt people dont wanna to use them, the question is people does wanna to maximize their earning, and if you bought last year bitcoin at 250 dollars currently you are near to make 300% and at 2020 it should reach 400% from those, why people would dump their coins to keep the circulation, there are enought coins for transactions.

Actually if you spend it in some good that the trader don't wanna sell the coins for fiat, the price will stay, truth is, bitcoin price is regulated by chinese holders that have a lot in their hands, we are just here like a fish swimming with the wales.
sr. member
Activity: 280
Merit: 253
November 10, 2016, 01:48:26 PM
People does store gold, and do you think those affect those marketplace? No, it doesnt affect, soo why would it affect bitcoin, be sure some people still hold their coins and wont sell them anything lower then 1000 dollars, and there is 7 years of bitcoin, and people will wait more time to dump them.
the difference is that gold is already known in the world. bitcoin is not. to make bitcoin known we need a growing ecosystem and therefore transactions. let us say you have invented a new coin or found a new precious metal. but only you know about it. what is the value of it? also bitcoin is supposed to be money, which is invented so we can trade. so why would you not want to use it?   

The question isnt people dont wanna to use them, the question is people does wanna to maximize their earning, and if you bought last year bitcoin at 250 dollars currently you are near to make 300% and at 2020 it should reach 400% from those, why people would dump their coins to keep the circulation, there are enought coins for transactions.
storing to me means to buy bitcoin and not sell them. if you are using bitcoin you are literally using them. first you buy some bitcoin. then you hold them until you want to buy something. after buying something you might want to sell something or you won a bet with your friend and you receive some bitcoin. so you are getting and giving bitcoin. your total bitcoin balance might be more or less the same and you would also profit from the price increase in fact you would be part of the reason. 
hero member
Activity: 938
Merit: 500
November 10, 2016, 01:08:17 PM
People does store gold, and do you think those affect those marketplace? No, it doesnt affect, soo why would it affect bitcoin, be sure some people still hold their coins and wont sell them anything lower then 1000 dollars, and there is 7 years of bitcoin, and people will wait more time to dump them.
the difference is that gold is already known in the world. bitcoin is not. to make bitcoin known we need a growing ecosystem and therefore transactions. let us say you have invented a new coin or found a new precious metal. but only you know about it. what is the value of it? also bitcoin is supposed to be money, which is invented so we can trade. so why would you not want to use it?   

The question isnt people dont wanna to use them, the question is people does wanna to maximize their earning, and if you bought last year bitcoin at 250 dollars currently you are near to make 300% and at 2020 it should reach 400% from those, why people would dump their coins to keep the circulation, there are enought coins for transactions.
full member
Activity: 210
Merit: 100
November 10, 2016, 01:02:31 PM
Yes bitcoin was developed for making transaction easier and we sound take advantage if that old concept instead of that many users are using bitcoin as gold they buy when price drops down and buys when price rise up. But should not happen we should use it for transaction purpose because it doesn't have any barriers.
sr. member
Activity: 280
Merit: 250
November 10, 2016, 12:21:22 PM
Yea bitcoin is developed keeping in mind that it's easier to transact bitcoin then real money because here transaction fee is almost negligible and it's faster but if majority user hold bitcoin for price rise then m it's against the policy of bitcoin in my view
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