Topic: The reason to hodl bitcoin - page 6. (Read 850 times)

Others holds bitcoin because their Country has regulation about using this so they tend to hold just in case sometime in future they will be allowed to use it and so they are ready.

  For me the reason why they hodl Bitcoins cause they believe and expect that this Bitcoins that sudden increase the value . That's the advantage of Hodl for every investor.

Well, we can't deny that and that is our main goal about buying Bitcoin. But of course, it could be changed when the market is already wide open for crypto payments, it comes to the point that we also have to use it. It was just this time that we are considering Bitcoin as a form of investment and we are predicting 10 years from now, Bitcoin will become more valuable than this time and have not to waste this opportunity to get some while it was still cheap.

I hodl Bitcoin cause it gives me the freedom to be my own bank, tbh, I love the responsibility of handling my funds all by myself, this is something that is not possible with centralized fiat currencies, but with Bitcoin, the individual is free to spend or use their coins in the way they want, that is a very good reason to hold Bitcoin. Having said that, due to the increase in Inflation in most countries and the fast rate at which fiat currencies are losing their value, Bitcoin is a good hedge to it, and another reason why many people hodl Bitcoin. The thing is, since the network is a 'free' one, quite a lot of people will have diverse reasons to invest in the currency, which is good, as long as they do not engage in criminal activities

There isn't any need to search for the reasons why people choose to HODL Bitcoin far away. HODLers aim one certain thing and that is making a nice profit in the long run. And some of them set price goals for themselves to prevent from being greedy and sell some amount when it is reached. HODL's main purpose is definitely this.

I look at this task in a different way. The reason to hodl is that you don't have to make yourself headaches by day trading, just hodl and everything will be okay in future, you just have to be patient and never check the bitcoin's price unless you hear from the news sources that it's price has skyrocketed.

The argument that's stated in this thread just proves that bitcoin's price will never go down like $600, $3000 anymore. Final distination is endless, at least for a while but when the 21M will really be mined, then no one really knows what will happen, we don't even know what will happen about btc in next 20 years. Such a long term prediction is impossible because no one knows what will be invented in near future like no one could imagine bitcoin or something similar in near future in 2000s.

The increase in the sue of online payments and the need for a more secure faster and reliable way to do transaction has made it clear that crypto is the answer, and that is shown with how many people are interested in investing and the increasing demand because of the high profit that bitcoin provides, in a day you could go about earning thousands of dollars passively without even doing much, and this only going to get bigger by the time as more and more people invest.

That's because of inflation.

Every country is bound to hit inflation and it's just depending how their government acts to defeat or delay it.

But some countries that are not good dealing with it, they're in high to hyper inflation and that's what's happening to their country. Bitcoin, it's as seen solution for those people living there.

https://tradingeconomics.com/united-states/money-supply-m2

There is your reason to keep hodling.

More money of the largest currency of the world, USD, has been printed in the last years than ever in human history. You can look at federal banking balance sheets in your own countries and take a look at the debts adopted over the pandemic to see how the banks are artificially propping up currencies. US is trying the method of qualitative easing which doesn't seem to be going well if the inflation trends continue on the way they do. European central banks aren't doing the greatest either.

When the world's largest currency is bound to fail, you have your reason to hold.

I agree. There is no guarantee for Bitcoin to maintain itself forever. For example, I don't think the same for gold. I think that it will always be in our lives. But I believe that Bitcoin will be gone at some point. You can't expect any cryptocurrency to be demanded by people all the time. At some point, Bitcoin will start losing its popularity. And then, it will start losing its value at a very high rate also. And it could be Bitcoin's end.

Really there are multitudes of reasons as to why you would choose to hold on to your bitcoins instead of selling them at a certain price point, be it high or low. There are those who believe bitcoin will be the currency of the future and would choose to have a hefty head start from there. There are those who believe bitcoin will increase more in value which is of course highly possible considering the lifetime trend bitcoin tends to possess, and there are those who chose to hold bitcoin because they find the technology behind it novel and revolutionary that they would do everything they can in order to keep it alive in some shape or form.

Personally I hold bitcoins because of its profitability, it has proven itself to be very profitable and had paid those who believe in it in the past quite dearly. I'm being realistic here given the fact that I may not tread this earth anymore once the day crypto overtakes the currency sector, but I am quite positive that it will happen in the future anyway. This is quite novel to me, as you can see your reason is something I may have missed from the most common reasons why people hold bitcoins that I listed above. To make use of bitcoin's deflationary nature, while earning is quite cool actually. Since you're practically hitting two birds with one stone there. Keeping your money's value stable, and ensuring that it accumulates.

And that is the main reason to hold bitcoin, it is obvious a great deal of the people are holding bitcoin just to benefit themselves from it and while there is nothing wrong with that we need to wonder why this happens, and the reason why this will happen is that simply bitcoin is the best form of money that we have available at the moment and anyone trying to deny that probably has some hidden agenda they are trying to push, so bitcoin will be important if not critical during the next decades and it is better to get in as early as possible.

Maybe your opinion is right and it could happen in the future,
but again anything can happen whether Bitcoin will still be the main choice or the demand will drop,
despite all that I'm still sure that Bitcoin will still be in demand and we'll see later to make it clearer

The main reason why I hold bitcoins is to have some form of 'guarantee' that my money today will still be worth something in the next few years. Inflation bites us in the ass so bad without us realizing it early. We just wake up one day that all prices on what we used to bought increased for a dollar or two. With bitcoin, at least that inflation is kept on par with what I had a few years back, as bitcoin keeps the value intact and still increases for the most part.

Not only that, but I believe bitcoin will be an integral part of the economy in the coming decades. A lot of people are already recognizing bitcoin, and it's just a matter of time before these same people do the switch and demand things to be priced in crypto, or at least have an option to buy things with it.

You assume that the bitcoins will stay in demand for many years to come and the demand is feeding a long-term price increase, but that is flawed. Gold might have been the go to option for people, because of scarcity ...but bitcoins are devalued by the massive amounts of Alt coins that are being added every day.

You see, for every new Alt coin that are added... the demand for bitcoins decrease... because people are now buying shitcoins and not bitcoins anymore. So the Bitcoin killers are all the Shitcoins and forks and GovCoins that are going to be added in the future.  

I think that the main reason to HODL is to make a great deal of profit.    I don't think that people are aiming something different while doing it. Because you are making an investment into something. You are doing it to increase the amount of your money. The main goal is not so different than an investment into something different like gold, fiat etc.. People who see the volatility in Bitcoin directly choose to invest in it for a long term. Because you can make much more money in it compared to an investment into fiat.

Do you think that in the future there will be a “Bitcoin Standard” analogous to the earlier existing “Gold Standard”?

To me, that seems unlikely. For too long fiat system functioned this way and it would be incredibly difficult to change it back with all the banking systems, mortgages, loans, compensations by printing money… It would eventually stop devaluation, I think, but it’s hard to imagine something like that happening.

In addition, why wouldn’t the governments want to use gold or other precious metals instead? Since many still remain skeptical about Bitcoin.

You will continue to hold anything which you believe in and I believe in bitcoin so holding for me make complete sense. Though my strategies could be different related to it like some of them may be for short term due to my personal expenses etc and rest of them will be for long term. So overall a majority of my investment will be for long term.

That's the huge difference of an asset that is being controlled by some entity while Bitcoin doesn't have any that's why no one could make an exploit about it. I still believe that Bitcoin is still in an early phase of its development and it has a lot of room to grow in the future. We may not know what will be going to happen in the future but I'm sure that the price of Bitcoin will continue to grow over time.

That's why owning a single Bitcoin is enough to have the opportunity to make some profit in the future that we today taking it for granted. But that's how Bitcoin should work and be used as a crypto currency.

Who knows what will happen in future, but the fact remains the world is changing alongside technology, people are more into using technology than before, more business are done online than before, digital currency is gaining more acceptance than before and btc is the number one most accepted digital currency at the moment which make it more valuable, if this keep on for many years to come then certainly btc will even be more valuable or scarce because it has a limited supply and the whole world now depend on it.