Storing of Bitcoins is against Bitcoin. - page 4.

deisik

legendary

Activity: 3458

Merit: 1280

English ⬄ Russian Translation Services

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.

It is a vicious circle of sorts

You can't spend your bitcoins (apart from gambling them away) until there are enough merchants ready to accept them. But merchants won't accept bitcoins unless there is enough demand for their merchandise being paid for with bitcoins. Some people say that the merchants won't start accepting Bitcoin en masse till its price stabilizes a little, and there is certainly a grain of truth in this claim. But how the price will ever stabilize if people are using Bitcoin mainly for speculation since they basically have only two options available to them, i.e. either to hoard bitcoins or trade them? Thus we are volens-nolens back to square one

grimmolt22

newbie

Activity: 37

Merit: 0

How is this even a topic? It is like saying "Saving Money is Against Money"...

Save Money

Spend Money

Bitcoin is a tool that we can use to get the things we need. It is also something we can invest in. We can use it to build projects, pay for necessities or luxuries, to have someone dumped in a lake, or just to stare at like a incapacitated 3 legged dog-goat.

If you want to hoard your coins... HOARD EM - HODL !!! I've been holding my stash for 2 1/2 years now... I will only use them in emergent situations. I only invested about 2500 bucks a few years ago and now I am with the other guys laughing at the 1000+ price again! XD

FaucetRank.com

hero member

Activity: 868

Merit: 500

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.

Storing Bitcoin is not against Bitcoin instead storing Bitcoin will increase the price of Bitcoin since demand of Bitcoin will grow in the market and supply is constant forever. But yeh in long term it may heart Bitcoin.

sportis

sr. member

Activity: 406

Merit: 252

Veni, Vidi, Vici

That's just what I think about bitcoin. On the other side I cannot blame people that save their coins and use it only for hoarding like as precious metals. These days the price of bitcoin started a new rally to ATH and is logical people don't spend it to buy goods or services. When price will be more stable I believe people to use bitcoin more as payment and less a scarce digital asset.

crwth

copper member

Activity: 2800

Merit: 1268

Try Gunbot for a month go to -> https://gunbot.ph

Quote from: Zadicar on January 04, 2017, 11:46:42 AM

Quote from: mrkevio on January 04, 2017, 11:14:47 AM

Quote from: shinscarlet on January 04, 2017, 10:09:51 AM

Quote from: nostra3 on January 02, 2017, 05:52:03 AM

Quote from: danherbias07 on January 02, 2017, 05:42:49 AM

Quote from: Shankara on December 31, 2016, 07:16:43 PM

Bitcoin is about freedom and free market

Do anything you want to them, spend, invest, store, or something else

Things will correct themselves with the free market

I agree with this. Though it sounds so selfish but still it is you who will decide it. They cant say it is against the rule of bitcoin (if there is one). I can gamble or invest it or even store it for a long time then they should not care about it. Only those who holds a lot of it will have that very much effect but with little holders there is not much of a impact.

bitcoin will turn into useless currency its essence If everybody would just store it, people will always continue investing in bitcoin and use it for speculation and or trading.

i think that storing and investing is the same if it's from the perspective of not using it

Yes but I think that drives its price higher. There is a pro and a con: the Con is that the amount of BTC you've invested/saved is not going into circulation anymore so the demand gets lower, but the Pro is that the amount of BTC doesn't go into circulation anymore, making the BTC supply lower, so Bitcoin is going to be harder to get.. therefore, the price will go up.

Agree with this statement since storing bitcoin has its own pros and cons which you have stated is a true thing.It might not being circulated on the bitcoin ecosystem but the supply will be affected if the users will rise up and supply decreases then expected the price will tend to rise too its just a simple supply and demand thing.

Well it's still your choice if you want to store it as a savings account (nothing wrong with that because you are your own bank) or making it circulate around the community, generating profit and also with a risk of losing it too. Whatever works with you, that's the thing. I store some in my cold storage so I could try to save.

Zadicar

legendary

Activity: 1302

Merit: 1018

Cashback 15%

Quote from: mrkevio on January 04, 2017, 11:14:47 AM

Quote from: shinscarlet on January 04, 2017, 10:09:51 AM

Quote from: nostra3 on January 02, 2017, 05:52:03 AM

Quote from: danherbias07 on January 02, 2017, 05:42:49 AM

Quote from: Shankara on December 31, 2016, 07:16:43 PM

Bitcoin is about freedom and free market

Do anything you want to them, spend, invest, store, or something else

Things will correct themselves with the free market

I agree with this. Though it sounds so selfish but still it is you who will decide it. They cant say it is against the rule of bitcoin (if there is one). I can gamble or invest it or even store it for a long time then they should not care about it. Only those who holds a lot of it will have that very much effect but with little holders there is not much of a impact.

bitcoin will turn into useless currency its essence If everybody would just store it, people will always continue investing in bitcoin and use it for speculation and or trading.

i think that storing and investing is the same if it's from the perspective of not using it

Yes but I think that drives its price higher. There is a pro and a con: the Con is that the amount of BTC you've invested/saved is not going into circulation anymore so the demand gets lower, but the Pro is that the amount of BTC doesn't go into circulation anymore, making the BTC supply lower, so Bitcoin is going to be harder to get.. therefore, the price will go up.

Agree with this statement since storing bitcoin has its own pros and cons which you have stated is a true thing.It might not being circulated on the bitcoin ecosystem but the supply will be affected if the users will rise up and supply decreases then expected the price will tend to rise too its just a simple supply and demand thing.

mrkevio

full member

Activity: 210

Merit: 100

Quote from: shinscarlet on January 04, 2017, 10:09:51 AM

Quote from: nostra3 on January 02, 2017, 05:52:03 AM

Quote from: danherbias07 on January 02, 2017, 05:42:49 AM

Quote from: Shankara on December 31, 2016, 07:16:43 PM

Bitcoin is about freedom and free market

Do anything you want to them, spend, invest, store, or something else

Things will correct themselves with the free market

I agree with this. Though it sounds so selfish but still it is you who will decide it. They cant say it is against the rule of bitcoin (if there is one). I can gamble or invest it or even store it for a long time then they should not care about it. Only those who holds a lot of it will have that very much effect but with little holders there is not much of a impact.

bitcoin will turn into useless currency its essence If everybody would just store it, people will always continue investing in bitcoin and use it for speculation and or trading.

i think that storing and investing is the same if it's from the perspective of not using it

Yes but I think that drives its price higher. There is a pro and a con: the Con is that the amount of BTC you've invested/saved is not going into circulation anymore so the demand gets lower, but the Pro is that the amount of BTC doesn't go into circulation anymore, making the BTC supply lower, so Bitcoin is going to be harder to get.. therefore, the price will go up.

shinscarlet

newbie

Activity: 24

Merit: 0

Quote from: rizkyhiw on January 04, 2017, 10:23:13 AM

Quote from: shinscarlet on January 04, 2017, 10:09:51 AM

Quote from: nostra3 on January 02, 2017, 05:52:03 AM

Quote from: danherbias07 on January 02, 2017, 05:42:49 AM

Quote from: Shankara on December 31, 2016, 07:16:43 PM

Bitcoin is about freedom and free market

Do anything you want to them, spend, invest, store, or something else

Things will correct themselves with the free market

I agree with this. Though it sounds so selfish but still it is you who will decide it. They cant say it is against the rule of bitc oin (if there is one). I can gamble or invest it or even store it for a long time then they should not care about it. Only those who holds a lot of it will have that very much effect but with little holders there is not much of a impact.

bitcoin will turn into useless currency its essence If everybody would just store it, people will always continue investing in bitcoin and use it for speculation and or trading.

i think that storing and investing is the same if it's from the perspective of not using it

store your money it's like saving , you will not having profit but losing value only
while investing have a possibility to losing value but could gain value
it's pretty clear that investing is better
even more if you spend it daily .

I say if it's from the perspective of not spending it or not using it, try to read more, you seem to make that post in a hurry, maybe your signature causes that?? Roll Eyes

rizkyhiw

legendary

Activity: 1484

Merit: 1004

Quote from: shinscarlet on January 04, 2017, 10:09:51 AM

Quote from: nostra3 on January 02, 2017, 05:52:03 AM

Quote from: danherbias07 on January 02, 2017, 05:42:49 AM

Quote from: Shankara on December 31, 2016, 07:16:43 PM

Bitcoin is about freedom and free market

Do anything you want to them, spend, invest, store, or something else

Things will correct themselves with the free market

I agree with this. Though it sounds so selfish but still it is you who will decide it. They cant say it is against the rule of bitcoin (if there is one). I can gamble or invest it or even store it for a long time then they should not care about it. Only those who holds a lot of it will have that very much effect but with little holders there is not much of a impact.

bitcoin will turn into useless currency its essence If everybody would just store it, people will always continue investing in bitcoin and use it for speculation and or trading.

i think that storing and investing is the same if it's from the perspective of not using it

store your money it's like saving , you will not having profit but losing value only
while investing have a possibility to losing value but could gain value
it's pretty clear that investing is better
even more if you spend it daily .

shinscarlet

newbie

Activity: 24

Merit: 0

Quote from: nostra3 on January 02, 2017, 05:52:03 AM

Quote from: danherbias07 on January 02, 2017, 05:42:49 AM

Quote from: Shankara on December 31, 2016, 07:16:43 PM

Bitcoin is about freedom and free market

Do anything you want to them, spend, invest, store, or something else

Things will correct themselves with the free market

I agree with this. Though it sounds so selfish but still it is you who will decide it. They cant say it is against the rule of bitcoin (if there is one). I can gamble or invest it or even store it for a long time then they should not care about it. Only those who holds a lot of it will have that very much effect but with little holders there is not much of a impact.

bitcoin will turn into useless currency its essence If everybody would just store it, people will always continue investing in bitcoin and use it for speculation and or trading.

i think that storing and investing is the same if it's from the perspective of not using it

Zocadas

hero member

Activity: 909

Merit: 508

Quote from: nostra3 on January 02, 2017, 05:52:03 AM

Quote from: danherbias07 on January 02, 2017, 05:42:49 AM

Quote from: Shankara on December 31, 2016, 07:16:43 PM

Bitcoin is about freedom and free market

Do anything you want to them, spend, invest, store, or something else

Things will correct themselves with the free market

I agree with this. Though it sounds so selfish but still it is you who will decide it. They cant say it is against the rule of bitcoin (if there is one). I can gamble or invest it or even store it for a long time then they should not care about it. Only those who holds a lot of it will have that very much effect but with little holders there is not much of a impact.

bitcoin will turn into useless currency its essence If everybody would just store it, people will always continue investing in bitcoin and use it for speculation and or trading.

That is the reason I use the bitcoin quite a lot.

nostra3

jr. member

Activity: 45

Merit: 10

Quote from: danherbias07 on January 02, 2017, 05:42:49 AM

Quote from: Shankara on December 31, 2016, 07:16:43 PM

Bitcoin is about freedom and free market

Do anything you want to them, spend, invest, store, or something else

Things will correct themselves with the free market

I agree with this. Though it sounds so selfish but still it is you who will decide it. They cant say it is against the rule of bitcoin (if there is one). I can gamble or invest it or even store it for a long time then they should not care about it. Only those who holds a lot of it will have that very much effect but with little holders there is not much of a impact.

bitcoin will turn into useless currency its essence If everybody would just store it, people will always continue investing in bitcoin and use it for speculation and or trading.

danherbias07

legendary

Activity: 3108

Merit: 1115

Leading Crypto Sports Betting & Casino Platform

Quote from: Shankara on December 31, 2016, 07:16:43 PM

Bitcoin is about freedom and free market

Do anything you want to them, spend, invest, store, or something else

Things will correct themselves with the free market

I agree with this. Though it sounds so selfish but still it is you who will decide it. They cant say it is against the rule of bitcoin (if there is one). I can gamble or invest it or even store it for a long time then they should not care about it. Only those who holds a lot of it will have that very much effect but with little holders there is not much of a impact.

royalfestus

hero member

Activity: 2408

Merit: 516

Enterapp Pre-Sale Live - bit.ly/3UrMCWI

Imagine if I decide to buy as much as 1billion $ bitcoin like many others and keep it for 10 years, Just like politicians holding large some of money in the third world country. It is decision that won't help the economic value of crytocurrency at large

Shankara

member

Activity: 97

Merit: 10

Bitcoin is about freedom and free market

Do anything you want to them, spend, invest, store, or something else

Things will correct themselves with the free market

WMPfortheD

newbie

Activity: 17

Merit: 0

Quote from: isoneguy on December 31, 2016, 07:05:51 AM

Price is actually fairly stable and predictable these days.

Yes and after reading this topic I am confused a little because really I am storing bitcoins now and is it against it ? Anyways I will still stock Tongue

carlerha

hero member

Activity: 588

Merit: 500

Quote from: Script3d on December 11, 2016, 05:59:54 AM

Quote from: Herbet Fry on December 04, 2016, 08:33:13 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.

I think bitcoin storing becomes a problem when no more is added. I think if bitcoin is constantly added to a holding wallet that it will be ok since the wallet holder is buying more bitcoin all the time.

i dont think holding bitcoin is buying more bitcoin its depends on the price its increases and decreases even the price increase your bitcoin doesnt increase the value just add , they are alot of people there holding their bitcoins and waiting the price to increase

yes there is no such law in which it has been mentioned that storing of bitoin is again the law, i think every one has the right to hold tier bitcoin for what ever time he want. there is no restriction regarding bitcoin storage. you just need to keep it safe and protect it from the spammers.

R3ffun

sr. member

Activity: 714

Merit: 250

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.

ya i agree i think bitcoin will not life forever , need to use it not just save it ..

isoneguy

hero member

Activity: 518

Merit: 501

Price is actually fairly stable and predictable these days.

digaran

copper member

Activity: 1330

Merit: 899

🖤😏

Quote from: Script3d on December 11, 2016, 05:59:54 AM

Quote from: Herbet Fry on December 04, 2016, 08:33:13 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.

I think bitcoin storing becomes a problem when no more is added. I think if bitcoin is constantly added to a holding wallet that it will be ok since the wallet holder is buying more bitcoin all the time.

i dont think holding bitcoin is buying more bitcoin its depends on the price its increases and decreases even the price increase your bitcoin doesnt increase the value just add , they are alot of people there holding their bitcoins and waiting the price to increase

Sure they will hold but remember not everyone doing this there are daily traders, miners selling their mined coins and people earning bitcoin doing all sorts of jobs/tasks, as much as you'd like or recommend people to hold there will be some of them that never listens

believe me there are even bots designed to keep buying and selling even no one being online to supervise them. problem about bitcoin is the uncertainty of the price.

Topic: Storing of Bitcoins is against Bitcoin. - page 4. (Read 41825 times)