Storing of Bitcoins is against Bitcoin. - page 36.

Amph

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Quote from: offlinedragon on March 03, 2016, 12:27:21 PM

I too agree with the fact that bitcoin is an active currency and should be seriously and actively used to buy things online and offline rather than a being stored for some bump and dump holding strategy.

well nothing stop me to use bitcoin to make more bitcoin and because of this have more in the cold storage

so you see, we can have both at the same time using and storing, this whole thread argument is moot

n0ne

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Bitcoins will be hold by most users. Everyone holds to get a good price for their earned bitcoins. So storing of bitcoins without circulating it for a long time won't make a huge difference in price. So, storing of bitcoin can't be considered against bitcoin.

TastyChillySauce00

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Quote from: offlinedragon on March 03, 2016, 12:27:21 PM

I too agree with the fact that bitcoin is an active currency and should be seriously and actively used to buy things online and offline rather than a being stored for some bump and dump holding strategy.

that's depend on the people who hold bitcoin,you can't forcing people to buy things when they want to save it for investment purpose, even a fiat just like dollar,some people do store it when the price goes down,bitcoin is waayy better than altcoin because most of altcoin just being used for trading instead of buying something

mikewillda

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Quote from: offlinedragon on March 03, 2016, 12:27:21 PM

I too agree with the fact that bitcoin is an active currency and should be seriously and actively used to buy things online and offline rather than a being stored for some bump and dump holding strategy.

I hold most of my bitcoin and also use a small percentage of the coin to buy things. I believe by doing that, I help the community.

offlinedragon

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I too agree with the fact that bitcoin is an active currency and should be seriously and actively used to buy things online and offline rather than a being stored for some bump and dump holding strategy.

cjmoles

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Quote from: cjmoles on February 28, 2016, 07:36:59 AM

Quote from: kyrios_ on February 28, 2016, 07:06:30 AM

Quote from: cjmoles on February 28, 2016, 07:02:15 AM

Quote from: Denker on February 21, 2016, 09:53:42 AM

Storing is not against Bitcoin!
The less coins in circulation the higher the demand for the ones avalaible.Scarcity dude!
On the other hand you're right that spending bitcoin is an important part of the ecnomy as well.
So I would say both is good and important!

I thought about this and it made me think: if everybody held their bitcoin and there were less in circulation, what would that translate to as far as the security of the network is concerned? Would the network's security be compromised at all if there were no transactions being broadcast?

why would security be compromised? in order to rewrite the public ledger as long as NOONE has 51% it'll still be intact

That's my question...what affect would that have on the concentration of hashing power and what would the possible consequences be?

I feel dumb bumping my own post but does anybody have an answer to this last question here? Is it a dumb question or just too hard to give an answer. I think the question is germane to the topic of this thread, and it's got me curious as to what others know about it. If there were no transactions being broadcast, how would that affect the networks integrity?

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Quote from: prtty2gal2 on February 29, 2016, 01:33:50 PM

Quote from: lixer on February 29, 2016, 01:57:25 AM

Quote from: Kevin77 on February 28, 2016, 08:53:07 AM

Its not 100% against rules, rather its like dont store them for lifetime. Keep making transactions, because its transactions that keep it alive. And storing would mean less transactions, though I store some, I still make a lot of transactions.

But I think we should not affect the flow of money. Whenever we use a currency, some amount of it is always saved in our wallets. Small amount is fine but we should not try to stock bitcoins in huge amount for just price increase. That would affect the system in some ways.

I believe storing of bitcoins is not against bitcoins but yes we should not store them and dshould instead spend them and share with all we know. Spreading btc spreads awareness too.

But what I feel is it is against bitcoin even I agree that anything that you own then you have 100% rights on it, whether you save, spend, burn etc . But still I think it must be spread among more and more people and more transactions should be made.

mikewillda

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I store most of my bitcoin as I think the price will rise a lot. But I also spend some to help the network.

prtty2gal2

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Quote from: lixer on February 29, 2016, 01:57:25 AM

Quote from: Kevin77 on February 28, 2016, 08:53:07 AM

Its not 100% against rules, rather its like dont store them for lifetime. Keep making transactions, because its transactions that keep it alive. And storing would mean less transactions, though I store some, I still make a lot of transactions.

But I think we should not affect the flow of money. Whenever we use a currency, some amount of it is always saved in our wallets. Small amount is fine but we should not try to stock bitcoins in huge amount for just price increase. That would affect the system in some ways.

I believe storing of bitcoins is not against bitcoins but yes we should not store them and dshould instead spend them and share with all we know. Spreading btc spreads awareness too.

coinplus

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Quote from: talkbitcoin on February 28, 2016, 08:32:24 AM

Quote from: bob123 on February 28, 2016, 08:15:08 AM

First we need a way to spend our bitcoins (e.g. local store)

exactly, if there is enough places to spend our bitcoins then we will use them. this is something that OP doesn't want to agree on.

besides with all the speculations going on and the price going up it is sometimes hard to give up what you have bought cheap and is going higher even.

Yes you are right , no one is arrogant here to not use BTC even when they see good things online being sold for BTC , often buy bitcoins but more often I spend them on various items.

MaritiJames3

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I think storing can be good if you ask me but its also the point, if you really want it, you have to keep in mind the bitcoin will go to a high amount because of the halving.

I think its good to hold your bitcoin because you can gain a lot of money.

~Bitcoin~

legendary

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Quote from: bob123 on February 28, 2016, 08:15:08 AM

First we need a way to spend our bitcoins (e.g. local store)

yes you are quite right because right now there are not much stores accepting bitcoin. The only way to get things purchased is cashing out from your bitcoin atm card to cash and buy. Atleast i have gone through this situation several times.

Vika NSFW

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Quote from: upsidedown75 on February 29, 2016, 03:33:36 AM

why would you stock them ?

Some people is attracted by idea become rich overnight from exchange rate similar to BTC1=$100.000.

upsidedown75

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Why would someone stock bitcoins actually ? Bitcoins are even more popular because its easy to spend and accept, and with such a currency why would you stock them ? Seriously I never stock them.

Kevin77

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Quote from: lixer on February 29, 2016, 01:57:25 AM

Quote from: Kevin77 on February 28, 2016, 08:53:07 AM

Its not 100% against rules, rather its like dont store them for lifetime. Keep making transactions, because its transactions that keep it alive. And storing would mean less transactions, though I store some, I still make a lot of transactions.

But I think we should not affect the flow of money. Whenever we use a currency, some amount of it is always saved in our wallets. Small amount is fine but we should not try to stock bitcoins in huge amount for just price increase. That would affect the system in some ways.

But I feel storing of bitcoins is not against bitcoins but rather its not appreciated actually. You can use the bitcoins you own as whatever way you want, no matter if you save them or spend them.

lixer

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Quote from: Kevin77 on February 28, 2016, 08:53:07 AM

Its not 100% against rules, rather its like dont store them for lifetime. Keep making transactions, because its transactions that keep it alive. And storing would mean less transactions, though I store some, I still make a lot of transactions.

But I think we should not affect the flow of money. Whenever we use a currency, some amount of it is always saved in our wallets. Small amount is fine but we should not try to stock bitcoins in huge amount for just price increase. That would affect the system in some ways.

Vika NSFW

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Quote from: talkbitcoin on February 28, 2016, 08:32:24 AM

if there is enough places to spend our bitcoins then we will use them

Knock with a BTC code to Your product and service providers!

Vika NSFW

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Quote from: talkbitcoin on February 28, 2016, 08:32:24 AM

have bought cheap and is going higher even.

Again.
BTC can be earned by selling products and services, not only buying at exchanger.

Kevin77

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Its not 100% against rules, rather its like dont store them for lifetime. Keep making transactions, because its transactions that keep it alive. And storing would mean less transactions, though I store some, I still make a lot of transactions.

talkbitcoin

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Quote from: bob123 on February 28, 2016, 08:15:08 AM

First we need a way to spend our bitcoins (e.g. local store)

exactly, if there is enough places to spend our bitcoins then we will use them. this is something that OP doesn't want to agree on.

besides with all the speculations going on and the price going up it is sometimes hard to give up what you have bought cheap and is going higher even.

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