Storing of Bitcoins is against Bitcoin. - page 9.

Capradina

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Quote from: Decoded on November 21, 2016, 06:41:06 PM

Short-term, it's good to hold. The supply and avaliability of coins will be lower, increasing the price. But the point of bitcoin is to be transacted, not held. Long-term, it needs to grow to become a transactable item.

Yeah, I also see that it is absolutely less efficient for the future. But it all depends on what will be created by all users, bitcoin if in the future the inventor or creator of the bitcoin appears then I think he'll do an upgrade and do something that can give better contributions to all of us. This is something that is very chaotic, because there is no certainty but should remain confident in order to have a great spirit

Decoded

legendary

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Short-term, it's good to hold. The supply and avaliability of coins will be lower, increasing the price. But the point of bitcoin is to be transacted, not held. Long-term, it needs to grow to become a transactable item.

Mastsetad

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Not everyone holds up their coins forever, everyone needs to spend them some day, what for someone would hold the coins? They all hold them only to get profit out of it so if the price goes higher they would surely sell them off.

iram3130

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I dont think anyone keep the money which they want to spend. People spend for their needs.
Keep in BTC, what they want to keep it as a saving coz it gives more interest money than Banks... Grin

Sithara007

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I don't think that it is against the spirit of Bitcoin. Hoarding happens with almost all the fiat currencies, and even with certain commodities. Also, there are enough floating coins available in the market for purchases and trade. We are not facing a shortage of coins.

Senor.Bla

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Quote from: crwth on November 21, 2016, 11:35:34 AM

I think storing Bitcoins are okay, you are just keeping it like what they do in a bank, but it's your own (hoping a secure one) wallet. The way I think about storing it also is like storing real coins. In a piggy bank, where you put your pennies, coins to store it for future use. That's what happens if you store bitcoins. In reality, you're just stopping it from circulating. It's not good for the economy. It may create an artificial shortage of coins, so in view of the fact that they think that there are fewer coins circulating, let's the coin makers make more coins causing the prices of the money go down.

But that's not going to happen to Bitcoin I think.

the difference is, that bitcoin is not something they can print or let the coin makers make more coins. there will be more scarce and this could raise the value of one coin, but if nobody is selling then you can not buy and if you can not buy you go for something else. something you can buy. and if suddenly nobody wants to buy bitcoin because they bought something else, then bitcoin is done.

crwth

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I think storing Bitcoins are okay, you are just keeping it like what they do in a bank, but it's your own (hoping a secure one) wallet. The way I think about storing it also is like storing real coins. In a piggy bank, where you put your pennies, coins to store it for future use. That's what happens if you store bitcoins. In reality, you're just stopping it from circulating. It's not good for the economy. It may create an artificial shortage of coins, so in view of the fact that they think that there are fewer coins circulating, let's the coin makers make more coins causing the prices of the money go down.

But that's not going to happen to Bitcoin I think.

Stedsm

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Quote from: AicecreaME on November 21, 2016, 11:04:13 AM

Your post is a really hard to understand what you are trying to say you know?, Storing bitcoins is against bitcoin? It doesn't make any sense at all. Maybe you should rephrase the whole thing that you have said if you want a very clear answer to your question.

They meant to say that bitcoins should not be stored. Just think that only few people stack up a lot of coins and they don't release their coins and don't circulate it between the community, is it good for the future of bitcoins?

AicecreaME

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Your post is a really hard to understand what you are trying to say you know?, Storing bitcoins is against bitcoin? It doesn't make any sense at all. Maybe you should rephrase the whole thing that you have said if you want a very clear answer to your question.

Xester

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Quote from: croutonhexagon on November 16, 2016, 10:26:36 PM

I don't think so because. Satoshi had not set any rules and regulations in bitcoin. He had not either mentioned that storing bitcoin is against bitcoin's policy but we the user only had made this law that storing bitcoin is against bitcoin because then there is less amount for circulation and thus price gets up.

Yes!storing or saving bitcoins comes naturally from all users. Of course, we all want to gain high profit thats why we invested on bitcoins. Besides, bitcouns have no rules, no one tells us that we should not keep bitcoins for long time. some are thinking that bitcoins are getting few because of storing of some users of thier bitcoins, well i think its not the effect, but its increasing its price more and more.

Harlot

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Quote from: danherbias07 on November 21, 2016, 10:40:47 AM

Quote from: Jasmint on November 21, 2016, 10:36:59 AM

Quote from: olushakes on November 17, 2016, 03:10:30 PM

If will dont store then its worthless because from elementary economics we learnt that for anything to be money then it must "store of value" I.e we should be able to store it and even in the common sense way how will it be interesting if there is no forces of demand and supply playing out on Bitcoin if some people didn't hold and create artificial scarcity then increase its value and do otherwise then decrease it value and that is the beauty of Bitcoin.

It is better to save most of the bitcoins and use a small proportioin of coin. So the circulation will raise the price.

Good thing some newbies think like this and we need more of that to encourage merchants into making business in the bitcoin territory. That will really help a lot when they read this kind of thiughts from new ones.

Well if we are talking about Economics here than I might contribute something good, in Economics they thought as the allocation of resources whether it is scarce or not we need to properly allocate it. However for my side of the story I still have enough Fiat currency earnings that keeps me away from using my Bitcoin for daily expenses, It is one of the good things from having enough resource.

danherbias07

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Quote from: Jasmint on November 21, 2016, 10:36:59 AM

Quote from: olushakes on November 17, 2016, 03:10:30 PM

If will dont store then its worthless because from elementary economics we learnt that for anything to be money then it must "store of value" I.e we should be able to store it and even in the common sense way how will it be interesting if there is no forces of demand and supply playing out on Bitcoin if some people didn't hold and create artificial scarcity then increase its value and do otherwise then decrease it value and that is the beauty of Bitcoin.

It is better to save most of the bitcoins and use a small proportioin of coin. So the circulation will raise the price.

Good thing some newbies think like this and we need more of that to encourage merchants into making business in the bitcoin territory. That will really help a lot when they read this kind of thiughts from new ones.

Jasmint

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Quote from: olushakes on November 17, 2016, 03:10:30 PM

If will dont store then its worthless because from elementary economics we learnt that for anything to be money then it must "store of value" I.e we should be able to store it and even in the common sense way how will it be interesting if there is no forces of demand and supply playing out on Bitcoin if some people didn't hold and create artificial scarcity then increase its value and do otherwise then decrease it value and that is the beauty of Bitcoin.

It is better to save most of the bitcoins and use a small proportioin of coin. So the circulation will raise the price.

olushakes

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If will dont store then its worthless because from elementary economics we learnt that for anything to be money then it must "store of value" I.e we should be able to store it and even in the common sense way how will it be interesting if there is no forces of demand and supply playing out on Bitcoin if some people didn't hold and create artificial scarcity then increase its value and do otherwise then decrease it value and that is the beauty of Bitcoin.

hurain

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Quote from: croutonhexagon on November 16, 2016, 10:26:36 PM

I don't think so because. Satoshi had not set any rules and regulations in bitcoin. He had not either mentioned that storing bitcoin is against bitcoin's policy but we the user only had made this law that storing bitcoin is against bitcoin because then there is less amount for circulation and thus price gets up.

yes that is right to say that there is not such kind of rules and regulation, which shows that holding of bitcoin for a particular time is illegal, to me you are the owner of your own money and you have the right to use bitcoin according to your own choice there is no restriction about the use of bitcoin. therefore to me it is not illegal to sore bitcoin for long time.

Rinder

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The coins stored, applied as savings may benefict the value of bitcoin, but there are enought coins into circulation already, changing hands every second, i dont see why thouse would affect bitcoin at all, demand and supply doesnt work yet at bitcoin because we keep getting new bitcoins, those should happen into the future when the mine process does end. Nowadays we do have interest of pump and dump into bitcoin and crypto world.

BitHodler

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Quote from: 1Referee on November 16, 2016, 10:46:05 PM

Quote from: croutonhexagon on November 16, 2016, 10:26:36 PM

I don't think so because. Satoshi had not set any rules and regulations in bitcoin. He had not either mentioned that storing bitcoin is against bitcoin's policy but we the user only had made this law that storing bitcoin is against bitcoin because then there is less amount for circulation and thus price gets up.

It's a fact that the less coins are in circulation, the higher the price will be eventually. However, there are people that believe the exact opposite. They think that the more we spend, the better it is for the overall price. These people don't realize that nearly all merchants are working with a payment processor such as BitPay to convert all Bitcoin sales directly to fiat. So in that regard, the more people will spend their coins, the more coins will end up being sold on the market. For a short while the market can eat through everything that gets sold, but that won't last very long.

People saying that we need to start spending our coins in order to see the price go up, are dumb, and they should stop converting Bitcoin to fiat if they want to contribute so badly.

Supply and demand ratios should be at an equal level, or higher to the demand side. This only happens when scarcity of the asset (Bitcoin in this case) occurs.

That's why I have big respect to each and every person hodling their coins in a solid manner. These people (which I am one of) contribute to a higher price. And a higher price is what all people want to see.

triasel

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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.

if this happened so i am will spend my bitcoin to useful thing like open business ..

arransiv

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Quote from: isoneguy on November 17, 2016, 12:58:58 AM

For whatever reason your pumping selling bitcoin, there is an argument on the other side of the concept.

Honestly I think you should do both, because holding, buying and selling bitcoin strengthen the system.

Thank you!

If people don't spend, just hold, bitcoin will be an ponzi scheme and if people just spend without holding the price will be a mess...

isoneguy

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For whatever reason your pumping selling bitcoin, there is an argument on the other side of the concept.

Honestly I think you should do both, because holding, buying and selling bitcoin strengthen the system.

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