Storing of Bitcoins is against Bitcoin. - page 29.

sishendaoye

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Quote from: angaper on May 20, 2016, 07:54:58 PM

I don't think so. I personally think that storing bitcoin is a way to strengthen the value of bitcoin because no one is willing to lose the things that he or she considers valuable. No one is exchanging gold or jewels out there to buy merchandises because they think such things really are worth and their lack of availability is something that provide them more value.

You are right without any doubts, I also think that storing the bitcoin is not against the bitcoin and that its also good to store it on this time because the fact is that the halving is coming.

angaper

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I don't think so. I personally think that storing bitcoin is a way to strengthen the value of bitcoin because no one is willing to lose the things that he or she considers valuable. No one is exchanging gold or jewels out there to buy merchandises because they think such things really are worth and their lack of availability is something that provide them more value.

Babayega31

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Quote from: MTBTT on May 20, 2016, 06:01:25 PM

Quote from: jacobmayes94 on May 20, 2016, 05:31:25 PM

HODL or spend, its the coin holders choice, thats all I have to say on that matter : ) Like money. If many HODL and some spend, that can actually drive the price up. I think HODLing bitcoins is less dangrous than the dangrous fractional reserve banking system our economies operate on

yeah it depends on each person wants to hold or spend it. both have their advantages and disadvantages, but if you want to benefit would be better hold your bitcoin

Its really there choice because they are the one who can decide where they spend it or not but seriously it cannot be against bitcoin and as you can see hoarding my have effect of price in bitcoin because the more people hoard the more price will be higher and it will increase the demand sometimes hoarding is good in bitcoin.

MTBTT

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Quote from: jacobmayes94 on May 20, 2016, 05:31:25 PM

HODL or spend, its the coin holders choice, thats all I have to say on that matter : ) Like money. If many HODL and some spend, that can actually drive the price up. I think HODLing bitcoins is less dangrous than the dangrous fractional reserve banking system our economies operate on

yeah it depends on each person wants to hold or spend it. both have their advantages and disadvantages, but if you want to benefit would be better hold your bitcoin

jacobmayes94

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HODL or spend, its the coin holders choice, thats all I have to say on that matter : ) Like money. If many HODL and some spend, that can actually drive the price up. I think HODLing bitcoins is less dangrous than the dangrous fractional reserve banking system our economies operate on

actmyname

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Quote from: DavidoAlto on May 19, 2016, 11:10:27 AM

Why is storing Bitcoin against Bitcoin? I think that it is the same as with money the banks and stuff do not that you safe your money at home because they want the money to go around so the economy can go on.

Holding bitcoins is not the same as letting a bank hold your cash. Firstly, the bank will use your money to loan to others and give others money (so in essence, it is an investment) and secondly, you would give it to a centralized system that pretty much controls the currency.

This can "sort of" help the economy because the money is being used, but with bitcoins, if you simply hold them in your wallet, nothing is being circulated and thus there is no demand for them.

DavidoAlto

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Why is storing Bitcoin against Bitcoin? I think that it is the same as with money the banks and stuff do not that you safe your money at home because they want the money to go around so the economy can go on.

draxcter

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I'm not sure you make a point here?.

AlexBits

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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 you're saying is a little bit true. Sure money needs to roll for a nice value of the coin. But there are to many people
who just holding their coins. That's bad for the rising of the coin for sure everybody needs to let their coins rolling.

BlueStackz

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Quote from: rickadone on May 09, 2016, 10:21:28 AM

Quote from: actmyname on May 01, 2016, 07:48:34 PM

Quote from: BitFomo on May 01, 2016, 07:42:51 PM

AFAIK there's nothing that have said BTCitcoin usage should be in constant circulation in order for it to work therefor storing it it won't harm or go against it. It's like forcing someone to spend their money just so it goes in the market but there's no such thing and people just like using their ordinary wallet, have a tendency to keep some of their earned money for some times, while also spend some of it.

If you mean, it's needed to go in circulation all the time, just for the sake of adoption then still a "NO" since, as long as some believe in it, there isn't a necessity for it to be used all the time.

Yeah, but let's suppose that everyone holds their bitcoins and they all believe in it. They would be hasty in trying to sell the bitcoins, because of their faith in bitcoin, and thus there would be no circulation. The lack of circulation kind of defeats the purpose because you have all this supply but no one to use it, and hence no demand. What's good is a healthy mix of circulation and holders [the selfish ones who profit from the investment].

You are also right, for the success of bitcoin we need that along with holding it we also have to circulate it in the market, like whenever we need to buy anything we have to visist only those stores who accept bitcoin as payment and so we have to buy with bitcoin.

Yeah, holding is not agaiant the law of bitcoin but if everyone started to hold bitcoin and bitcoin disappeared from the market then bitcoin will lose its value and in that case people will lose their money.

romero121

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Storing doesn't seem to be against bitcoin, it just decreases the circulation. These days every user hold almost there hard earned bitcoin on the expectation of big rise on halving. Only the person who accumulates huge volume need to circulate as much possible to have a stabilized growth.

rickadone

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Quote from: actmyname on May 01, 2016, 07:48:34 PM

Quote from: BitFomo on May 01, 2016, 07:42:51 PM

AFAIK there's nothing that have said BTCitcoin usage should be in constant circulation in order for it to work therefor storing it it won't harm or go against it. It's like forcing someone to spend their money just so it goes in the market but there's no such thing and people just like using their ordinary wallet, have a tendency to keep some of their earned money for some times, while also spend some of it.

If you mean, it's needed to go in circulation all the time, just for the sake of adoption then still a "NO" since, as long as some believe in it, there isn't a necessity for it to be used all the time.

Yeah, but let's suppose that everyone holds their bitcoins and they all believe in it. They would be hasty in trying to sell the bitcoins, because of their faith in bitcoin, and thus there would be no circulation. The lack of circulation kind of defeats the purpose because you have all this supply but no one to use it, and hence no demand. What's good is a healthy mix of circulation and holders [the selfish ones who profit from the investment].

You are also right, for the success of bitcoin we need that along with holding it we also have to circulate it in the market, like whenever we need to buy anything we have to visist only those stores who accept bitcoin as payment and so we have to buy with bitcoin.

davinchi

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Quote from: PsursV on May 01, 2016, 04:04:44 PM

i dont think so. is it against the law to hold a local currency. i think no, but in my openion there should be a moderate strategy. if you need to buy some thing or to exchange the bitcoin you should do so. and if you think that you no need to use it you can store it.

You are true , the owner of bitcoin or other currency have the right to spend it or store it, no other person can impose him/her that to spend their money, If they felt to spend some money then they should spend otherwise no one have right over their money.

bob123

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If everyone would only store btc's.. then yes.. it kinda would be senseless.
But since never ever everyone is gonna do that.. no problem.

Denker

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Quote from: ecashpay123 on May 02, 2016, 04:33:48 AM

what is the meaning of this about bitcoin tell me. Cool

OP wrote nonsese.
Bitcoin is whatever you want it to be.
If you wanna use it as a store of value, object of speculation (trading) or as a currency and spend it on a daily basis.It's up to you and nobody can forbid you that.

Yusif

newbie

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I just spend some bitcoin to buy a few graphics to do some altcoin mining. I will sell the altcoin and buy back bitcoin again.

ecashpay123

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what is the meaning of this about bitcoin tell me. Cool

mikewillda

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CTO/Spokesman

Quote from: AlexBits on May 02, 2016, 03:55:35 AM

why is storing you're coins bad everyone can do with their coins what they want to do.
you don't want it because if everyone store them the value will not rise much.

If everybody stores the bitcoin, the bitcoin is useless. If a currency is useful, people can use it to buy things, it is valuable.

AlexBits

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why is storing you're coins bad everyone can do with their coins what they want to do.
you don't want it because if everyone store them the value will not rise much.

Wendigo

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I think there is no reason to spend from your Bitcoin stash if you could use fiat instead because the price of Bitcoin could increase in the long-run and you could easily double or triple your initial investment while the price of fiat will stay the same. Or if you are doing online shopping with Bitcoin save at least half of it in a cold storage for the future. The Bitcoin economy won't be affected that much if some of the coins are not in circulation anyways.

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