TLDR; Bitcoin is for holding and measuring your wealth in (like @Capslock had eloquently explained). Therefore, fiat and, possibly, alts are for spending. Why I even included alts..because they oscillate and sometimes go up 100X in a few mo, so if you are nimble enough, you can play and get 'play money' as a result.
TLDR... stop being so god damned ridiculously dogmatic about what peeps should or should not do with their BTC. Peeps can do whatever the fuck they want, especially if they have already met their personal goals and they are able to continue to meet, maintain or even exceed their personal goals in a variety of ways that are of their own choosing, including if they want to sell some portion (even all) of their BTC.
Of course, I already gave a pretty damned
specific and even realistic hypothetical example (not necessarily based on any particular known person), of a person has a goal of achieving $1 million by 2021, but then realizes that he actually would be better served with $2million by that same date, but then when he also realizes that his BTC has become worth $12 million. Accordingly, he should not feel any inhibitions in shaving off some BTC because he has $10million excess of his own personal financial wealth accumulation goals.
Sure, maybe this particular peep could be well served by increasing his personal financial goals, or maybe he can consider that he should have started shaving off profits way before having had reached $12 million... whatever he decides to do, then he has choice and discretion in planning or replanning that or even concluding that he has achieved way in excess of his own personal financial wealth accumulation goals.
Further, what happens if his wealth accumulation goal is $2 million, and then he just let's his $12million continue to accumulate value and he does not shave off any BTC when his BTC stash has already reached $12million, and then BTC does another 8x from $40k per coin to $320k per coin, then all of a sudden he has $96million and his personal financial accumulation goal has not come off of $2 million?
Of course it is not a bad problem to have, and it is not even unrealistic that this kind of a "problem" could end up happening to some one because I already explained a pretty damned possible circumstances in reaching such a $12million accumulation status at today's prices.. and many of us realize that it is not unrealistic for BTC to go through another 8x price appreciation from here.
Surely, I can think of all kinds of circumstances that guys are still struggling to get to fuck you status, even if they have been in BTC accumulation for a decent amount of time, but there are surely circumstances in which guys could well end up accumulating way more wealth than they are able to spend and it makes a lot of sense for them to shave some off... and maybe their "problem" just keeps getting worse at a certain point, especially if they do not shave off, and not everyone wants to accumulate wealth beyond their goals.. maybe they can tolerate another 3x or 5x or even 10x to have a bit more cushion, but at some point, if they are 48x beyond the top of what they thought that they needed, they have to start to become way more creative (and possibly beyond their own competency) in trying to spend their money in ways that are suitable to their own personality traits and preferences.
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I definitely agree it will in time have an effect on the precious metals market but I don't think it's holding it back get but I'm just going off a gut feeling I've done literally zero research.
With a quick Google it looks like the market cap on gold and silver is 13 trillion combined, Bitcoin is almost a trillion right?
You are going to be grasping at straws if you merely take a snapshot of where these assets are at currently.
In 2015, bitcoin was struggling to stay above a $5 billion market cap. In other words bitcoin has between 160x and 240x more value than it had in 2015 (depending on which location you are locking in).
You think that bitcoin is going to stagnate? You think that bitcoin cannot do another 20x?
Sure not everyone can appreciate the amount of value that bitcoin has gained, and they conclude that bitcoin is going to be topping out soon, when I believe that it has largely already beaten gold and silver and other various PMs... Sure it could take some time for some of the measurements to feel more comfortable, but bitcoin can already do way more than those PMs in terms of sovereignty over value so long as a person has connections on both ends, he can move value anywhere in the world, and of course, more and more peeps are willing to accept bitcoin and even if they are moving a small amount of value, such as a few million dollars in value, they may well even be able to do that without anyone even really noticing... try doing that with gold/silver pms, and those private planes even get searched sometimes.
Kinda really shows how much fucking stupid paper money floating around there is when it's all just faith in the government
Surely hardly any of this is tangible for a lot of normies, and even in the bitcoin learning space some of us are still trying to figure this stuff out.. including getting exposed to information and knowledge that we thought that we would never have any interest.. but then holding bitcoin sometimes will cause exposure to a variety of macro economic concepts that help to establish at least part of the the bitcoin investment thesis.
Btw yeah we're still buds, I actually really like most people on here, R0ach and gembitz and those crpyptnaut fucks where's the exception.
I will try NOT to cry.. even though sometimes I even get mad, angry and frustrated at "good buds" in these here parts.. and I am sure that the feeling is mutual.. because I have been told so, several times.
