Topic: To the people who only see the downsides of HODLing Bitcoin - page 6. (Read 1260 times)

But without Blackrock and Trump, bitcoin got to all-time high of $69000. Not that I do not understand your point but bitcoin had always been an asset that its value is increasing. I know that you are trying to say that bitcoin is becoming more relevant and that is true. Politicians like Trump are now using it to campaign.

Bitcoin is a movement but it is also decentralized. You can't determine how another Bitcoiner wants to use his coin. Some people might decide to sell, while others will want it hodl for a long time. Bitcoin gives everyone the choice and freedom to use it the way they want. Institutional investors like BlackRock contributed to the increase in the price of Bitcoin, but they will keep promoting centralization. The best we can do is to keep our keys and also promote decentralization in any way we can. Politicians like Trump shouldn't be taken seriously. After the US presidential elections in November, this hype about Bitcoin in the political space will disappear. We will know the true nature of the winner of the election after the elections.

Each action done in moderation is a good thing in the economy.  I have nothing against hodling Bitcoin since it promotes scarcity of BTC in the market.  It pushes the price and makes BTC more valuable since a market that has more demand than supply means there is plenty to profit from it.  This also attracts more investors.

At the same time using Bitcoin promotes its useability in real-life cases.  When the integration of Bitcoin into different companies and transactions between people as a payment option while beating the conventional transaction in terms of cheaper fees, speed, and freedom comes to its pinnacle, the control of the flow of BTC by holders will surely stabilize the growth and uptrend of the value of Bitcoin.

In short, Hodling when done in the right way can promote an uptrending BTC market.

Yeah, they can only do two things with it, luckily: hold and sell, with regulations for staking, manipulations, and other things (I mean, like selling all of them at once, for example, due to regulatory oversight and potential impact), as I understood. Smart money always tries to get better positions for themselves, so we need to be vigilant.

If everyone wasn't skeptical about bitcoin back then, then everyone who were aware of bitcoin would have already been rich by now. Even now that bitcoin has proved itself to bounce back from any dip, there are still people who think every dip is the last of bitcoin before it totally ceases to exist.

There will always be FUD spread by other people it will be up to you to believe that or not.

In considering Bitcoin as an investment this is the best strategy, I get the circulation and massive usage but we can also not ignore the fact that many still has other view of Bitcoin like an edge against inflation, a means of financial freedom from government and the likes, which means while they HODL bitcoin from the fact that none can disrupt the fact that it is currently the best store of value, many still have what they use Bitcoin daily and that is why we often see many complaining when we face issues of Mempool congestion.

Yes this is another reason for HODLing limiting the circulation of these big organization to avoid any form of  centralization or market manipulation

Bitcoin is just undergoing natural growth; where it is today is not where it was a decade ago. That's the same thing that will happen in the next 5 to 10 years; it will keep moving positively, and how people interact with it will continue spreading in the coming years. 
 
All this could have never been possible without the little support of both those who HODL bitcoin, those who buy and sell for daily profit, those who criticise it, and those who praise it. Every effort contributed to how exposed and powerful bitcoin has become today.

I initially thought you had something pretty good to say about Bitcoin HODLing judging by the title, but in reality, your points are not without faults. Let me start with Bitcoin HODLing as the title reads, only a fool would say HODLing Bitcoin is bad, but at the same time, we should be smart about it. For me, more money would be made when people strike it at the right price, not at the top in the name of they want to HODL it for years, I hope Bitcoin will not disappoint such people. The way it behaved when it was still below $500 is not the way it is going to behave when it is close to $100,000. Also, a smart investment is in Investing and Divesting at the right times and according to what the long-term chart says, which is a good thing to consider by anyone, after all, an investment is an investment, it is the amount you earn that matters.

As for Blackrock, well, it's nice, but I still want you to know that these people saw an opportunity in Bitcoin and they created a business around it. This could be technically selfish, but I still love their approach, after all, it's a win-win for them and Bitcoin. But for Trump, you will only be deceiving yourself if you think Trump is a Bitcoin Cabal, he is never a Bitcoiner but a deceit. The guy is only using Bitcoin's popularity for his gain, someone who had condemned it many times in the past. At your slightest consciousness, how many investments or businesses of Trump are in Bitcoin? Talk is cheap, let's be wise.

I usually say that I am against HODLing but that doesn't mean I only see the downsides of HODLing and nothing positive. When I say that I am against hodling, I mean that in order for Bitcoin to be successful and massively adopted, it has to be in circulation and massive usage. If we hodl and do nothing, no good or service will be created and it will kill Bitcoin, hodling won't magically make it go to the moon.

At the same time, I want to admit that it's good that some people hodl because the majority of bitcoins shouldn't end up in the hands of corporations like BlackRock and in the hands of centralized exchanges like Binance.

People who only see downsides of HODling bitcoin don't only exist now. They already existed fifteen years ago and have existed all the way through. You only have to compare between those who had that vision and those who had the opposite vision to see which is the better way.

We only need ordinary people like you and me to start using Bitcoin in any way each person would like.

Bitcoin is a movement that attracts "The Cabal" to where the people are. Currently, we now have Black Rock and the largest asset managers having investments in Bitcoin, and Trump and other politicians talking seriously about Bitcoin. Ten years ago suggesting that that would happen would be laughable.

¯\_(ツ)_/¯