Topic: To the people who only see the downsides of HODLing Bitcoin - page 3. (Read 1260 times)

You can use BTC both for making payments and also storing it for returns, it is great to spend BTC if you have the opportunity to, you may not want to spend it on something expensive, so you can use it for micropayments if tx fees is low at that time. It is also great that BTC has become a popular means of cross-border payments, especially for people who work online, it makes it easy for employers to pay people who work for them over the internet, and also for people to offer their services in return for BTC.

However, whatever one decides to do with their coins is their choice, that is what the network is about, freedom and censorship resistant, but it is also good to remind people of the original reason why BTC was created.

That completely goes against to what we've been working towards though. Scalability is a key and an important thing that has been emphasized over and over again through the entire lifespan of Bitcoin. The idea for lightning network and Layer 2 scaling has always been to facilitate smaller transactions like these.

My understanding is that you think Bitcoin will never compete against USD, or any other traditional currency and that we will always be dependent on and using traditional fiat for everything that we do. Otherwise, for people to only spend Bitcoins for high value items also prices out majority of the population. That, also doesn't really make a lot of sense.

OK, you are on a very different path than many of us. Point understood! But you should also understand our viewpoint, which is we earn fiat and we're looking for an asset that doesn't devalue the fruits of our labor. That's Bitcoin, and that's Gold if you ask me. We are traveling a different road, on a different path. We can't merely spend those Bitcoins for coffee-transactions. For that, we use fiat and we keep our precious Bitcoins.

In conclusion to your view, HODling should be encouraged and not discouraged. It may have its downsides but we should always look at the positive side of it because that’s where the zeal to hold will always come from. We can’t stop big investors like blackrock and big exchanges from not holding, no hands are equal and they’ll always have the means to buy more and hold more to those coins because of the potential advantage they see in it than many of us don’t see in holding.


I feel they have already understood the concept and are already one step ahead. They understood the market and knew where it was already heading to, so by that means they’ll want to play as the whale manipulators and also stand at the receiving end of the market goes well and bitcoin increase in value overtime.

What's wrong with HODLing bitcoin ? are there people who see downsides for HODLing bitcoin ?
I don't think there is anything wrong in holding bitcoin for a long term.
I know that we should be usin bitcoin for making payments and that's the purpose of bitcoin since inception but it's more of a store of value now.
Many people perfer to hold bitcoin because that's what brings them profits and thus is valuable to them in this way.
So HODLing is not that bad afterall.

I've been earning in Bitcoin since 2016 as a freelancer, so I'm actually just skipping the step of using fiat to buy Bitcoin -- unfortunately, because I only earn in Bitcoin, I do have sell the majority of it to pay my bills. But if I could use my Bitcoin to pay for whatever it is I need to pay for, I do. So that means I sell what I need to pay the things I couldn't use Bitcoin for, but yes, I set aside what I can for things I know I eventually need to or actually what I want to.

Food delivery? Groceries? We all need to do that. But instead of selling my coin for fiat, if I can use Bitrefill, or Just Eat (which accepts Bitcoin) -- then yeah, that to me is "even the smallest thing". It's definitely inefficient. My life would be more efficient, easier if I just sold a big chunk and then paid with my 0 fee debit card. But I really like the idea of normalising Bitcoin for spending. Again, not saying everyone should do it, but saying a lot of us are doing it, and I like to think it's this that really is helping Bitcoin prove its case again and again.

But I guess we can agree to go our different ways of using Bitcoin. We do seem to agree that we don't know what the right path is =)

If you earned that Bitcoin in Bitcoin and use it to gamble in your favorite casino, or purchase a collectible in the forum, then that's OK in my opinion. But if you use fiat to buy Bitcoin to use that to spend on "for even the smallest thing", then that's an inefficient use of resources, just spend the fiat in fiat unless you don't have a choice but to use a decentralized, censorship-resistant cryptocurrency - like purchasing something from the Dark Markets.


P2P Cash or Store of Value = using is using. It's those people who believe that they're in the right path who are laughable when in fact we don't actually know what the right path is, because we truly don't know what Bitcoin actually is yet.

It's obvious that Most people who talk about the downsides of Bitcoin may not even know what Bitcoin is all about and it is possible you may not find anyone here on the forum who will boldly talk about the downsides of Bitcoin. The difference between Bitcoin investment and other investments out there is the privacy and the price movement of Bitcoin but the risk is no difference from other investments but people see it as scam because they are too ignorant to adapt to digital currency which is what it represents.

It takes bold and brave people to invest in bitcoin with a very big large amount. And government thought bitcoin is not legit so they were afraid to adopt and invest in bitcoin and individual business men who are risk takers invested in it and making gain from it and NJ ow that they have discovered that the digital currency is making waves and the poor individuals are using it to enter the middle class so now they are coming to join the innovation. And as I said, if US accept bitcoin, it will help bitcoin in many areas and countries will follow suit. Many people that were against bitcoin now are coming back to bitcoin so the next  3 years to come, bitcoin will be hot asset. And those who will still hodling at that time will make good gain. The downside of bitcoin now is a good example of purchase more.

No need to apologise for using Bitcoin the way you want to.

I say what I say (and do what I do) because I've always held that it's the unsung many going about their daily routine using Bitcoin that we're where we are. The guy who gave me my first Bitcoin lived like this, and is unknown, like all the guys I knew giving and spending their coins from years ago. The pizza guy lived like that. Antonoupoulos, the Bitcoin educator I feel is probably responsible for tens of thousands of new users lived like this, and was famously mocked some years back for having no Bitcoin of his own (he since was donated some and I believe also hodls now ).

I did say... no need to rate or judge how anyone uses it =) This isn't about virtue signalling. It is literally about putting Bitcoin to use, for what it was meant for. P2P cash anyone? Not sure where you got that I was asking people to tell the world they were using it. So yes, I applaud people like you, but I celebrate those who may never hold, but who continue to validate Bitcoin's existence in their own small ways.

Its definitely something for the history books, but to witness it first hand is very exciting. A lot of folks have mixed feelings about all of this, I think its great. Bitcoin is clearly heading in the right direction and anyone who says otherwise is missing the train. Bitcoin is incredibly famous and famous attracts famous for sure. Something that is unstoppable and can have no real interference is like having a superpower. Bitcoin is powerful!

It's really hard to find people who see downsides of holding bitcoin on a forum like this one
Usually people who are here are either into holding, mining, trading, or all of these together.
If any of you know any downsides of holding bitcoin, I'd be happy to hear them out, because I haven't seen any reasonable ones. Of course it's best to spend all the money you have and not invest at all because all forms of investment carry a degree of risk, but if you have to invest bitcoin is probably the best thing you can buy.

That's because many people have wrong information about Bitcoin and many of them think that Bitcoin is a scam, a pyramid and a ponzi while none of this is true. Too many people believe whatever they read on the first page of Google or shared by their friends on facebook. People don't check the authenticity of the information source. Sometimes these people buy Bitcoin but they always have the fear and expectation that Bitcoin will fall because as they claim it's scam.
Btw I always suggest such people to open short position on futures trading. If they think that Bitcoin is scam and it will soon become zero, then they should risk short position on futures, am I wrong?

If we don't HODL Bitcoin but use it massively to make transactions in our everyday life, this will automatically skyrocket the demand on the coin. I support HOLDing but not HODLing.
Imagine that we want to eat apple and you are an apple producer. If you HODL apples, the price of apples will go high because of high demand and low supply but at the same time, people will start to look for alternatives because it's getting harder to get apples because you HODL them. If you don't HODL them but hold them, then demand will still be high, people won't start looking for alternatives and people will still be able to pay more and eat more.