I agree with this though I do not know what will we do to increase their awareness to these cryptocurrencies especially Bitcoin since a lot of online sellers and merchants know what Bitcoin is. I don't encourage people who sell on markets since in our country, a lot of people are being scammed using the name of Bitcoin so I don't think they will be doing it.
There are a lot of other alternatives to Bitcoin or cryptocurrency payments that is better, efficient and cheap though not anonymous. I guess Bitcoin will stay as it is since people will just be continuing what they are doing in the past, hold it and sell it in the time that it's price increases. Let's just stick in that for the mean time, that time might come but not only Bitcoin will be in this talk.
Topic: What should we focus on more? Demand or Supply? - page 9. (Read 1710 times)
Maybe it would be more effective if we encouraged businesses to accept Bitcoin rather than encouraging end users to spend them lol.
Well, IMO encouraged users who want to actively use and spend bitcoins at a store, can have an influence on the owner of the store to accept BTC (to encourage businesses).
But encouraged businesses which accept BTC don't have such a big influence on their customer to pay with BTC. Most of them would probably stick with their credit card (regardless of a "BTC Accepted Here" - sticker).
A user base (and new user who want to actively use BTC as a currency) are thriving the adoption forwards. Not businesses accepting it as a payment option per se.
I've been a student of Economics for some time now. Not in an academic setting by the way. But I have undertaken studies of Economics individually. In this time, I have never seen a case where hoarding any product has worked for good. It always end up more like a lose-lose situation. And this is a strategy only amateurs engage. I totally agree with the poster. The only way to improve Bitcoin prices is to create awareness to induce the public's interest. In other words, only increased demand ever benefits a particular market.
Bitcoin installment processors regularly charge less in expenses than Visas, so there's a true blue case for traders to acknowledge Bitcoin. Clients themselves won't generally feel the distinction however, on the grounds that Visa charges are frequently effectively incorporated with the cost of items. Perhaps it would be more powerful on the off chance that we urged organizations to acknowledge Bitcoin instead of urging end clients to spend them
In the real world as soon as the value of a currency is going to increase (or expected) its holders are trying to hold it (not to spend) and visa verse.
I think that merchants will start accepting BTC only when their main expenditures are nominated on BTC (rent, salaries, loans+interests).
I think that merchants will start accepting BTC only when their main expenditures are nominated on BTC (rent, salaries, loans+interests).
I see where you're coming from, but I don't think HODLers' primary objective for HODLing is to cut off supply. Most of them just want their coins' value to grow and that's it. HODLIng, in a way, could even raise demand by attracting even more new HODLers courtesy of increasing prices lol. But yeah that's simply unsustainable.
To be fair, Bitcoin payment processors often charge less in fees than credit cards, so there's a legitimate case for merchants to accept Bitcoin. Customers themselves won't really feel the difference though, because credit card fees are often already integrated with the price of products. Maybe it would be more effective if we encouraged businesses to accept Bitcoin rather than encouraging end users to spend them lol.
I understand your call for broader Bitcoin adoption and more intensive spending. Although I completely agree with you, I don't think it would impact the price significantly (in a hypothetical scenario of 80% hoarding and 20% spending) because majority of regular shopper will not convert fiat to Bitcoin if they can pay with fiat itself with lower transaction costs. 
To be fair, Bitcoin payment processors often charge less in fees than credit cards, so there's a legitimate case for merchants to accept Bitcoin. Customers themselves won't really feel the difference though, because credit card fees are often already integrated with the price of products. Maybe it would be more effective if we encouraged businesses to accept Bitcoin rather than encouraging end users to spend them lol.
I see a lot of people that are hoarding 100% of their bitcoins, because they believe cutting off the supply, would be enough to increase the price.
Would it not be better, if we increased the demand by increasing Bitcoin awareness and convincing more merchants to offer Bitcoin payments?
A 100% hoarding strategy is more harmful, because it cancels all the good work that was done to get merchants to accept Bitcoin as a payment option. A merchant will stop accepting Bitcoin, if their is no demand or transactions being generated for their business from the Bitcoin payment side.
We should actively encourage local merchants to start accepting bitcoins and then we should start supporting them.
Just buy back the bitcoins that you spend and you will be fine or use money that you would not have hoarded and buy the goods or service with bitcoins.
Adopt a 80% hoarding and 20% spending strategy and we will see a massive increase in Bitcoin adoption 
Would it not be better, if we increased the demand by increasing Bitcoin awareness and convincing more merchants to offer Bitcoin payments?
A 100% hoarding strategy is more harmful, because it cancels all the good work that was done to get merchants to accept Bitcoin as a payment option. A merchant will stop accepting Bitcoin, if their is no demand or transactions being generated for their business from the Bitcoin payment side.
We should actively encourage local merchants to start accepting bitcoins and then we should start supporting them.
Just buy back the bitcoins that you spend and you will be fine or use money that you would not have hoarded and buy the goods or service with bitcoins.
Adopt a 80% hoarding and 20% spending strategy and we will see a massive increase in Bitcoin adoption
I understand your call for broader Bitcoin adoption and more intensive spending. Although I completely agree with you, I don't think it would impact the price significantly (in a hypothetical scenario of 80% hoarding and 20% spending) because majority of regular shopper will not convert fiat to Bitcoin if they can pay with fiat itself with lower transaction costs.
I see a lot of people that are hoarding 100% of their bitcoins, because they believe cutting off the supply, would be enough to increase the price.
Would it not be better, if we increased the demand by increasing Bitcoin awareness and convincing more merchants to offer Bitcoin payments?
A 100% hoarding strategy is more harmful, because it cancels all the good work that was done to get merchants to accept Bitcoin as a payment option. A merchant will stop accepting Bitcoin, if their is no demand or transactions being generated for their business from the Bitcoin payment side.
We should actively encourage local merchants to start accepting bitcoins and then we should start supporting them.
Just buy back the bitcoins that you spend and you will be fine or use money that you would not have hoarded and buy the goods or service with bitcoins.
Adopt a 80% hoarding and 20% spending strategy and we will see a massive increase in Bitcoin adoption
Would it not be better, if we increased the demand by increasing Bitcoin awareness and convincing more merchants to offer Bitcoin payments?
A 100% hoarding strategy is more harmful, because it cancels all the good work that was done to get merchants to accept Bitcoin as a payment option. A merchant will stop accepting Bitcoin, if their is no demand or transactions being generated for their business from the Bitcoin payment side.
We should actively encourage local merchants to start accepting bitcoins and then we should start supporting them.
Just buy back the bitcoins that you spend and you will be fine or use money that you would not have hoarded and buy the goods or service with bitcoins.
Adopt a 80% hoarding and 20% spending strategy and we will see a massive increase in Bitcoin adoption
The good thing about bitcoin is that you can easily spend if you want, while maintaining the same values as gold. With gold you cant spend easily if you want. Both storage and spending is good for bitcoin as both means it is getting more valuable. We will see what happens
I see a lot of people that are hoarding 100% of their bitcoins, because they believe cutting off the supply, would be enough to increase the price.
Would it not be better, if we increased the demand by increasing Bitcoin awareness and convincing more merchants to offer Bitcoin payments?
A 100% hoarding strategy is more harmful, because it cancels all the good work that was done to get merchants to accept Bitcoin as a payment option. A merchant will stop accepting Bitcoin, if their is no demand or transactions being generated for their business from the Bitcoin payment side.
We should actively encourage local merchants to start accepting bitcoins and then we should start supporting them.
Just buy back the bitcoins that you spend and you will be fine or use money that you would not have hoarded and buy the goods or service with bitcoins.
Adopt a 80% hoarding and 20% spending strategy and we will see a massive increase in Bitcoin adoption
Would it not be better, if we increased the demand by increasing Bitcoin awareness and convincing more merchants to offer Bitcoin payments?
A 100% hoarding strategy is more harmful, because it cancels all the good work that was done to get merchants to accept Bitcoin as a payment option. A merchant will stop accepting Bitcoin, if their is no demand or transactions being generated for their business from the Bitcoin payment side.
We should actively encourage local merchants to start accepting bitcoins and then we should start supporting them.
Just buy back the bitcoins that you spend and you will be fine or use money that you would not have hoarded and buy the goods or service with bitcoins.
Adopt a 80% hoarding and 20% spending strategy and we will see a massive increase in Bitcoin adoption
Jump to: