Topic: To the people who only see the downsides of HODLing Bitcoin - page 5. (Read 1255 times)

I agree that the purpose of creating bitcoin was for it to be a peer-to-peer currency that does not depend on any 3rd party but as of now, I don't think we can make that happen. Although we have turned bitcoin into a speculative asset for profit, even if we had not turned it into an asset, it would hardly have become a currency. The biggest barrier is the government because they will not allow a currency that is not under their control to be widely circulated and used. So it's not so bad that people turn bitcoin into an asset.

Bitcoin has useful use cases, it's not like tulips so I don't think there will be any bubble here. The Bitcoin ETF is probably proof of that, because if it were truly useless then I don't think an ETF would be proposed and passed.

it just goes to show that value and uniqueness will always break through regardless of the competition and resistance it faces. What made Bitcoin to survive at the time most of these cabals where against it till this moment when a lot of them are now advocating for it adoption and getting bullish about it is because of it uniqueness of being decentralized and having no central person they could point hands on to politicize in any way. It's surely a rewarding journey for all bitcoinner that have been in the system this while and now watching it become a serious consideration for most big global figures as a source of preservation of her wealth.
I don't think that most HODLers just make a single buy and leave it that way, it most times involves making multiple of buys at several timeframe and in some way, we can't say they just HODL and do nothing with it. I get the point you're saying and to a large extent, Bitcoin will experience a larger scale of adoption if we focuse more on it decentralized nature more than it volatile nature but with what it has come to be, the attention of investors have shifted more into holding Bitcoin for the profit they stand to get from it and it's difficult for the big institutions to consider adopting Bitcoin for an alternative reason other than what they stand to gain from thier investment in the future.

I agree, but the future moves on and we probably will see improvements in these fields, there are many gateways already for many services, so mainstream adoption would be a great step ahead, in my opinion. The demand is not still there.

But if you don't HODL Bitcoin as a form of escape from the exploitative nature of fiat, how does Bitcoin itself will be valued if it isn't being valued itself?

Plus ser, do you actually believe that we're HODLing merely to "Go To The Moon"? There are many people that do that, but its effect on Bitcoin is the same. It's being valued and therefore it has value.

No offense against Trump but I hope that he's walking the talk and truly serious about it. This is a campaign season and that's why he wants to let people hear what they want to hear about, especially in sectors like the bitcoin community. But you're right that we only need people like us to keep Bitcoin running. If we're going to take a look back from where it has started, there were no big fishes on it and it's typically the enthusiasts that have seen the potential on it until it's passed on to the new generation of adopters until these big players and companies have seen the real potential of it and it can cause real threat to them if they won't adopt it or simply, the missed opportunity that they'll have in the future.

For now, using it as payment method is not rampant so to speak  because of considerations such as high tx fees, duration and convenience.Most are just holding it for the very  reason of getting high profits.

People who only sees downside of HODLing end up being on the regretting lane. It takes just 2 halving to regret grossly. HODLing is a virtue and only the faithful and patient possess the virtue. When I was new in this industry, I was very scared of BTC. Especially the volatility and the rumour that it is a bubble about to burst. But today I am glad to announce to you that I am now seeing bitcoin as an adventure. I am not sure about my next step, but the most interesting thing is that I'll still take the step.

Bitcoin needs everyday people like us to start using it in our own ways. It's more than just an asset. Just look at how things have evolved: from being dismissed as a fad to being embraced by major asset managers and financial institutions now investing in Bitcoin. It's a testament to the power of grassroots adoption. Here we are, proving that Bitcoin has come a long way. The more people understand and use Bitcoin, the harder it becomes for those in power to ignore. It's a shift in control, putting the power back into the hands of individuals.

Reading the white paper of bitcoin and correlating it with today’s usage of it, I can agree that there have been a paradigm shift of the main problem it was coming to address and that was/is majorly because of the reason that the transaction scalability isn’t smooth as many would want and also the high cost of transaction fees sometimes incurred. To me just like bitcoin is pseudonymous in nature same way that it’s usage can be, you can take the advantage of it been an hedge against inflation and hodl or use it as a currency just like fiat. Personally i will treat it as an alternative to the fiat currency, make use of it when the fiat currency creates hurdles.


As a currency it doesn’t sucks just that the use of it as currency hasn’t grown much which I will basically blame on the adoption rate of it, if the rate of it’s acceptance as a payment method grows then you will see more people turn to make use of it more. It is the best when doing cross border transactions

People aren't really "using" bitcoin and probably never will. As a currency it sucks, but long-term holding as a store of value is where it excels. Everyone should be aiming to just hold a as much as they can afford for as long as possible.

Which is quite the problem, don’t you think? For a currency that is widely hailed to be an alternative to fiat, we haven’t made much progress in this aspect. The mindset that you’ve mentioned is precisely the aspect that is detrimental to Bitcoin’s success.

If you were to pitch Bitcoin to someone, you can pitch in the direction that Bitcoin is a good store of value. But for what? Why are people willing to pay more and more money for Bitcoin? Not because of being FOMO, I hope. The answer that we should be giving is that it has the potential to replace financial systems in the far future and thus you should invest in the currency of the future. It doesn’t help if we’re so fearful of spending Bitcoins.

Make no mistake, Bitcoin’s intention is to become a P2P electronic cash system. If people only invest in Bitcoin because they think its going to make them rich, then its a typical sign of a bubble.

We all have our point of view on how bitcoin should be used. Imho you can view bitcoin as whatever you like. Bitcoin can serve as a store of value, a currency or an asset.

I think for most people, bitcoin is an asset more than it is a currency. If a business adopts bitcoin as a payment method and gives a discount for customers who pay in bitcoin, many still wouldn't pay in Bitcoin because they are hodling their bitcoins for the price to increase. I’m saying this from personal experience and I’m sure other members who have adopted bitcoin as payment in their business would agree with me.

It's true that Bitcoin has come a long way, and it became much more prominent than it used to be. Bitcoin is taken seriously by politicians, various authorities and some very rich and influential investors and entrepreneurs. But it's also worth noting that it gained more attention as an investment opportunity than as a form of money people can use to buy and sell goods and services. There are exceptions like El Salvador, but the US mainstream seems to be more about whether Bitcoin can bring profits, not whether it's a good alternative to banks and fiat.

Obviously, the sad truth because looking back at when Bitcoin was invented and now we all have seen convincible growth so I believe that is how it's going to be in the years to come even though some people are still being adamant about it. Bitcoin have grown pass the stage where it's growth can easily be affected by anything at all.

Exactly, everything worked in the favour of Bitcoin because despite the extent of criticisms it received yet it stood and cleared everyone's doubts and if you check very well you will see that there's only few people or organization that is still criticizing Bitcoin if not the rest have joined the campaign, trading also made the market balanced due to the demand and supply of Bitcoin and Hodling aided in it's sustainability so basically everything worked on the brighter side for Bitcoin.

Holding Bitcoin with time is good but HODLing is a practice I dislike. We invest money to get profit that need to be in hands and ready to use for several things in our lives.

I am against HODLing but I'd prefer holding my bitcoin for a while long time to get better profit.

If anyone still is doubtful about magic of holding bitcoin and given ROIs, please check.

• https://charts.bitbo.io/satoshi-per-dollar/. Click to view the chart that is downward but it shows opposite fact, Bitcoin price becomes higher with time so less satoshi can be bought with same $ amount.

The sooner we shake the mentality that HODLing should be encouraged the better.

Bitcoin is designed to be used and for investors to think of it as being a speculative asset defeats the entire existence of Bitcoin. We should be actively encouraging people to spend Bitcoins whenever they can and prove that there is utility rather than the notion that the price would skyrocket and people would get rich. Scarcity is great, but note that if it becomes a bubble, then it won't benefit anyone at all.

It all points to the tremendous growth Bitcoin has grown over the last 10 years, without much ado, it's audible to the deaf and visible to the blind that bitcoin has come to stay, the likes of Donald Trump and other politicians that have been talking in support of Bitcoin are not just saying so for the mere fact that they want political patronage, they are doing so because they've seen for themselves how adopting and HODLing bitcoin can transform your financial status as an investor.
Trump is one of the business men that sees an opportunity and harnesses those opportunities, he has so far come to the realisation that bitcoin has enough to offer.

Even the creator can see Bitcoin can be used as a commodity, not always as a currency.

I'm really grateful that Satoshi create Bitcoin with a complete freedom, so anyone can use Bitcoin whatever the purpose they like, not necessary must be as a commodity or as a currency. If Satoshi want to force people to use Bitcoin as a currency, he can programmed to deduct Bitcoin x amount for x time, making people to spend the coins before it reach the time.

With relevancy comes more tools for shaking things up, both in the info field and others alike. It's an interesting take and it's even more interesting what will the market bring to us in the near future. For me, it's very exciting, as there is no panic at all for my portfolio or for the coins I think should rebounce back.

I also don't think that there are people thinking about negative about holding bitcoin since for the past decades of bitcoin existence its proven that those holders are gaining with holding investment decisions they do. Maybe those people find it crazy to think about doing that are impatient to wait for long time because what they think bitcoin is fast cash grab. They failed to realize that everything fast especially on crypto has negative effect like losing money instantly since volatility is really unpredictable and this is always caught up those people who's looking for fast earnings for their daily trades.

But for sure people explore in those possibilities to hold then engage with long term holding especially if they really see the potential gains without exerting to much effort in this this investment we select. If there are some people laugh with that idea much better let them do whatever they want since for sure they will just miss those good opportunities especially if bitcoin reach at huge price that they don't expect to happen.