Storing of Bitcoins is against Bitcoin. - page 19.

clickerz

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Quote from: crairezx20 on September 15, 2016, 01:51:30 PM

I think the truth it is not against the bitcoin because we are just holding bitcoins for a long time or storing it is because the price is unpredictable anytime the price will increase or decrease.. so we are just storing it and sell them in the right time.

I dont know if it could be considered hoarding? SInce storing it on your wallet of corse it will affect the bitcoin price or the supply and demand of the said coins. SOme store bitcoin for investment and patiently waiting for the price to rise.

Fatanut

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Storing Bitcoins will only be against Bitcoins if each and everyone of us will hold it. There'll be no market movement when that happens. No one is willing to sell their coins so there will be no price decrease. There will be no price increase as well because new investors have no one to buy Bitcoins from.

People selling/buying coins instead of just storing them will surely make the market move a lot. The only problem is that it's very likely that you'll end up losing a huge sum of money if you do buy/sell blindly. In addition to that, there's also the transaction fee.

Youresioure

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There're several services offered for BTC already. I see that the number of these services is increasing so I can assume with good reason that in the future more services'll accept BTC. Besides, you don't only store BTC for the number of services, you store BTC because you hope the increase in price.

YTBitcoin

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Quote from: Kotone on September 15, 2016, 01:23:07 PM

Quote from: Vika NSFW on February 21, 2016, 08:32:23 AM

Storing of Bitcoins is against Bitcoin.
No one will offer services for Bitcoin.
Spend Your Bitcoins.

What do you want to meant about this OP? i dont understand that bitcoin is againt it self what? did you really check it before you post it here? so everytime we earning bitcoin is againts that with bitcoin rule? so wee nees to spend it when we get it is that what you meant?

You should have to read carefully, Op mean that storing bitcoin is against the success of bitcoin. In the next line OP explains the reason that if the circulation of bitcoin do not occur and people like to purchase and transact with fiat and not with bitcoin then companies will not adopt bitcoin for their payment.

crairezx20

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Quote from: DuckKeeper on September 15, 2016, 01:39:52 PM

I do not think its against the bitcoin but its also not very good that is also true of course, I really do not think that you can decide what to do with it.
Its not that its bad because its also good for your profit but for the market of the bitcoin it is wrong indeed.

I think the truth it is not against the bitcoin because we are just holding bitcoins for a long time or storing it is because the price is unpredictable anytime the price will increase or decrease.. so we are just storing it and sell them in the right time.

n691309

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We can say that storing bitcoin is against bitcoin but not always, because it can be positive for bitcoin but negative for the human because we see people that stored bitcoin for a long time and when they want to access they forget the seed or private key.

DuckKeeper

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I do not think its against the bitcoin but its also not very good that is also true of course, I really do not think that you can decide what to do with it.
Its not that its bad because its also good for your profit but for the market of the bitcoin it is wrong indeed.

exadex.org

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Quote from: Jasmint on September 15, 2016, 01:21:02 PM

Quote from: lolxxxx on September 12, 2016, 01:34:24 PM

After reading this i guess someone will open a thread saying that Storing of Gold is against Gold right? lol ? Storing of bitcoins is not against bitcoins.

That is two different things. The bitcoin is a currency. Its usefulness is better to be found if it is actually used.

That's right. Bitcoin is a great payment option, but it's a risky investment. Grin

But I don't think it's against Bitcoin to store Bitcoins.

Kotone

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Quote from: Vika NSFW on February 21, 2016, 08:32:23 AM

Storing of Bitcoins is against Bitcoin.
No one will offer services for Bitcoin.
Spend Your Bitcoins.

What do you want to meant about this OP? i dont understand that bitcoin is againt it self what? did you really check it before you post it here? so everytime we earning bitcoin is againts that with bitcoin rule? so wee nees to spend it when we get it is that what you meant?

Jasmint

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Quote from: lolxxxx on September 12, 2016, 01:34:24 PM

After reading this i guess someone will open a thread saying that Storing of Gold is against Gold right? lol ? Storing of bitcoins is not against bitcoins.

That is two different things. The bitcoin is a currency. Its usefulness is better to be found if it is actually used.

European Central Bank

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going by how full the blocks are it's no longer physically possible to move any more bitcoin around.

I think the principle is cool but bitcoin, or rather the obtaining it, is cumbersome so there's not gonna be the inspiration to keep spending it. when you don't need to convert it, that's when we might see more action.

lolxxxx

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After reading this i guess someone will open a thread saying that Storing of Gold is against Gold right? lol ? Storing of bitcoins is not against bitcoins.

crairezx20

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I think its not against in bitcoin storing bitcoin is just a wise way because the price of bitcoin is unpredictable and there is a potencial that the price of bitcoin will increase continuesly so they are storing bitcoin and save for a long time and wait for the price increase so that they can make a good profit.

zimmah

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Quote from: severaldetails on September 12, 2016, 11:17:08 AM

If you use your coins you support the cummunity.
New businesses can rise because you are willing to pay with bitcoins. There is demand and supply.
If nobody uses them, businesses won't grow. Of course in the beginning there will be a price increase because of the demand and therefore the lower availability.
But very soon bitcoin would turn out to be just an object of speculation. And when the infrastructure behind the coin would start to decrease, I think the price would dump.
And that would be the opposite of what we want to achieve.
Of course I have a small stack of coins as an investment.
But I also try to use bitcoin as a payment method whenever possible. I think that way is the most promising one, for the coin and for me.

storing and spending aren't mutually exclusive though.

you can store and still spend, and whenever you spend something, just buy back the spent bitcoin with fiat, so that you still keep the same amount of bitcoin.

severaldetails

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If you use your coins you support the cummunity.
New businesses can rise because you are willing to pay with bitcoins. There is demand and supply.
If nobody uses them, businesses won't grow. Of course in the beginning there will be a price increase because of the demand and therefore the lower availability.
But very soon bitcoin would turn out to be just an object of speculation. And when the infrastructure behind the coin would start to decrease, I think the price would dump.
And that would be the opposite of what we want to achieve.
Of course I have a small stack of coins as an investment.
But I also try to use bitcoin as a payment method whenever possible. I think that way is the most promising one, for the coin and for me.

Digitalbitcoin

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I think Bitcoin is not giving facility of PoS.
So storing bitcoin for increasing price for exchange can be consider as Investment. How can anyone take this as against bitcoin.
I agree with principle of circulation of bitcoin but some of investing in Bitcoin just for and investment.

stevo401

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Quote from: calkob on August 24, 2016, 05:36:21 PM

Thats like saying storing cash (ie: saving) is against cash

In my opinion, the key difference here is that it would be extremely difficult for a large percentage of the worlds cash holders to not spend any cash, whereas it would be possible for a large percentage of bitcoin holders to not spend bitcoin. The average cash savings rate in the US averages around 5.7% (https://ycharts.com/indicators/personal_saving_rate), and even in extreme cases it's rare for the savings rate to exceed 80%. In contrast, I would think that over 10% of bitcoins in circulation may be held long term for investment purposes.

Saving bitcoin isn't 'anti-bitcoin' but at the same time liquidity is a key feature required by currency.

martinacar

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Quote from: Doamader on July 25, 2016, 06:34:45 PM

With bitcoins you are the person that can and will choose what to do, can invest, store, lend, or make anything else the thing is nothing related to bitcoin is against it, as we have full control and power over our money. We dont need to ask our money back, to pay a fee to let our coins saved.

Yes we can decide by ourself what to do with our money. You can't tell us to spend them or not and that it's against the system because then the system would be flawed anyways. Spend them, save them, earn them do whatever you want with your bitcoin!

machinek20

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It is true, if all of the user are stroring without spending it then bitcoin will slowly die, without the transaction bitcoin will die, so if you want bitcoin to survive longer then you need to spend it, so if the transaction circulation is good then bitcoin will live longer

Jasmint

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Quote from: madwica on August 24, 2016, 09:29:13 PM

Quote from: shinratensei_ on August 24, 2016, 08:04:02 PM

Quote from: Cereberus on August 24, 2016, 08:38:49 AM

Storing bitcoins is not against Bitcoin.

Until they're not just storing their bitcoin in their wallet for a long time because that is will prevent the circulate or giving a bad effect for the circulation of bitcoin.

That is why we should not store our bitcoin in a long time period it has a effect on bitcoin circulation, i think we should also spend the interest gain on our investment to help to increase the demand $ supply of bitcoin.

I store about 80% of the coins I bought earlier. Then I used the 20% now and then to support the circulation of the bitcoin.

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