Why hoard Bitcoin? - page 4. | Bitcointalksearch.org

Snappycoco

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Quote from: Arvin01 on August 10, 2021, 02:20:33 AM

Because of the value of Bitcoin, people will hoard it,
Take me as an example. I will invest 20% of my salary in Bitcoin because I think Bitcoin is very valuable and I believe in Bitcoin, so I think Bitcoin is worth investing in.
But if you let me buy something with bitcoin, I will hesitate and pay with fiat currency first.
Although people can pay in any way, will Bitcoin be your first choice?
Now the difference between fiat currency and Bitcoin is that one is inflation currency and contraction currency. Inflated currency (fiat currency) means that if it inflates, you want to get rid of it as soon as possible. For example, we use fiat currency to buy things, invest in real estate, cryptocurrency, stocks. And to shrink the currency (Bitcoin) you buy goods or services, or hoard it. This has no effect on the economy, except to reduce the monetary base and make the currency more scarce, so deflation is faster.
In my opinion, Bitcoin is a store of value, not a currency. There may be cryptocurrencies becoming legal tender, but not now, volatility and supply and demand need to be considered.

Bitcoin has now evolved from being a payment system without intermediary to a store of value. Yes, I agree that it will really fluctuate and its price will still be on rise added by more adoptions happening these days. Its features are unique and somehow the trust built within is quite immersive. Unlike any fiat currency, its total supply will never change.

Theones

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We don't have a choice when it comes to payment method, we have to pay in fiat. BTC is not legal in many countries, in countries where its legal because of its volatility merchants don't accept it.
Though LN is around for few years now still scalability issue of BTC is not resolved. Many still see bitcoin as an asset of investment not as a payment method.

eaLiTy

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Quote from: Arvin01 on August 10, 2021, 02:20:33 AM

~
In my opinion, Bitcoin is a store of value, not a currency. There may be cryptocurrencies becoming legal tender, but not now, volatility and supply and demand need to be considered.

The intention of Satoshi according to the whitepaper was an electronic payment system without trust but with cryptographic proof of the transaction, which literally means taking away the third party to make the transaction and not a store of value.

Who knows if Satoshi could have stayed and we could have seen a much different space or whether he knew that the scaling will be an issue and never bothered to come back, but one thing was certain he was not happy with the direction BTCitcoin was going when he left mainly because of Wikileaks and a few other things Grin

.

Still if you want to transfer currency you can do it with cryptographic proof and if someone is not intending to do that does not mean that it is just a store of value Tongue

.

wahyu wida

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Quote from: Sled on August 15, 2021, 08:15:19 AM

Quote from: coolcoinz on August 14, 2021, 07:16:19 PM

It's all about how much money you have and how much you want to have in future. People who live day by day and barely have enough to pay their bills will not think of alternative investments like btc. Those people will not think of investments at all, but when you're rich and see inflation eating up 5% of your wealth every year your perspective changes.

Precisely, rich people could think about another form of investment as they have money but for the poor people, it was not their priority. If I only have excess money in my pocket, I surely invest them but not only in BTC alone, I have also to start a business. Having multiple sources of income will be the way to uplift our living capabilities and have financial freedom in the future.

for the purpose of life and the perspective between rich and poor is mostly different, rich people who have excess money will certainly try to develop their money by investing and one of them is from bitcoin, I think most of their points of view from pocket money do not develop, so how to make it the money grows. On the other hand, poor people whose main goal is to find money to be able to eat

Sled

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Quote from: coolcoinz on August 14, 2021, 07:16:19 PM

It's all about how much money you have and how much you want to have in future. People who live day by day and barely have enough to pay their bills will not think of alternative investments like btc. Those people will not think of investments at all, but when you're rich and see inflation eating up 5% of your wealth every year your perspective changes.

Precisely, rich people could think about another form of investment as they have money but for the poor people, it was not their priority. If I only have excess money in my pocket, I surely invest them but not only in BTC alone, I have also to start a business. Having multiple sources of income will be the way to uplift our living capabilities and have financial freedom in the future.

suryana

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Quote from: yazher on August 14, 2021, 08:15:26 PM

As you can see, the crypto market is going crazy all over again and it's gonna be like that for the rest of the month so if you are courageous enough to wait for an even higher price, you won't hesitate to hoard your bitcoins for a little longer because something is gonna surprise us this coming days base on the chart of the crypto market. While everyone is doubting about their investment, it is the best chance for those who didn't buy anything yet to get on the boat because if it's gonna be full next month, it will be hard to get on. The price will be sky-rocket and you won't gonna afford it.

It's true that the best opportunity is today. Never procrastinate because we don't know how far the coin will skyrocket. Maybe even now it's said to be a little late..but better late than never. And wait for your coins to generate for you.

yazher

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As you can see, the crypto market is going crazy all over again and it's gonna be like that for the rest of the month so if you are courageous enough to wait for an even higher price, you won't hesitate to hoard your bitcoins for a little longer because something is gonna surprise us this coming days base on the chart of the crypto market. While everyone is doubting about their investment, it is the best chance for those who didn't buy anything yet to get on the boat because if it's gonna be full next month, it will be hard to get on. The price will be sky-rocket and you won't gonna afford it.

coolcoinz

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It's all about how much money you have and how much you want to have in future. People who live day by day and barely have enough to pay their bills will not think of alternative investments like btc. Those people will not think of investments at all, but when you're rich and see inflation eating up 5% of your wealth every year your perspective changes.

Boov

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Fortunately, holding bitcoin will change our lives unexpectedly and on my several years of working that doesn't provide me any benefits like building my own house. Bitcoin provided me those things I wanted and desire compared from main job I had, so I kept in mind that holding btc really gave me more opportunity rather than relying on one source of income.

oktana

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When it comes to making payments, for most people, fiat is better. Let's say you have $5 BTC and you want to make payment for an item. You can see that the transaction fee is a turn off. At this point, you will likely have to use fiat and pay. But if you had $2 BTC and you want to buy a car. If the store accepts BTC, because selling your BTC for fiat is the same as sending to the seller, BTC can be preferred. There are many factors that affect the use of Bitcoin for payment.

Quidat

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Quote from: Wawa2013 on August 14, 2021, 05:29:00 PM

Quote from: ?? on ??

Quote from: CLS63 on August 12, 2021, 04:39:43 AM

The main reason why we prefer to accumulate Bitcoin is that it seems as the best option for a long-term investment. Since Bitcoin was first released into the market, we have witnessed so many people have gotten rich by buying Bitcoin and HODLing it. There have been Bitcoin millionaires in many countries.

And I remember a person from YouTube named Davinci Jeremie who advised and begged people to buy at least $1 worth Bitcoin 8 years ago.

See his video below if there are someone who still hasn't watched it on YouTube:

https://www.youtube.com/watch?v=Cw29h7LhEuE

That's true, and it has become a mandatory thing for us to be long term holders, because while there are other alternatives to have profits, we will choose that alternative other than selling Bitcoin too early. Later in the day we can regret what we sold too soon, and sacrifice something that will provide great benefits later.

Actually, many people have managed to get big profits from Bitcoin, because the increase in the price of Bitcoin is indeed extraordinary. Even though
the year is not over yet, Bitcoin has managed to rise to a price of $60k a few months ago. So it can be said that people who bought Bitcoin in
the previous year and hold Bitcoin until now will get a big profit. This is why collecting and hoarding Bitcoins is so important, because compared
to other assets, Bitcoin is more promising. Don't let us regret being late in collecting Bitcoin and also don't sell the Bitcoin we have too quickly.
The longer we can be patient holding Bitcoin, then the profit we will generate will also be even greater.

No one had expected for bitcoin to make this big and for those people who do believe on it on earliest days or years are the ones who are making profits as of this moment as bitcoin do
reaches out new all time highs into its price and this is where it do leave out the impression that it should really be accumulated for possible future gains if the price would soar up even more.
Its a personal choice whether you do accumulate it for the sake of its actual utility or would rather be accumulating just for the sole purpose of earning profits which i could say its normal.

Wawa2013

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Quote from: CLS63 on August 12, 2021, 04:39:43 AM

The main reason why we prefer to accumulate Bitcoin is that it seems as the best option for a long-term investment. Since Bitcoin was first released into the market, we have witnessed so many people have gotten rich by buying Bitcoin and HODLing it. There have been Bitcoin millionaires in many countries.

And I remember a person from YouTube named Davinci Jeremie who advised and begged people to buy at least $1 worth Bitcoin 8 years ago.

See his video below if there are someone who still hasn't watched it on YouTube:

https://www.youtube.com/watch?v=Cw29h7LhEuE

That's true, and it has become a mandatory thing for us to be long term holders, because while there are other alternatives to have profits, we will choose that alternative other than selling Bitcoin too early. Later in the day we can regret what we sold too soon, and sacrifice something that will provide great benefits later.

Actually, many people have managed to get big profits from Bitcoin, because the increase in the price of Bitcoin is indeed extraordinary. Even though
the year is not over yet, Bitcoin has managed to rise to a price of $60k a few months ago. So it can be said that people who bought Bitcoin in
the previous year and hold Bitcoin until now will get a big profit. This is why collecting and hoarding Bitcoins is so important, because compared
to other assets, Bitcoin is more promising. Don't let us regret being late in collecting Bitcoin and also don't sell the Bitcoin we have too quickly.
The longer we can be patient holding Bitcoin, then the profit we will generate will also be even greater.

DoublerHunter

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Quote from: Arvin01 on August 10, 2021, 02:20:33 AM

Because of the value of Bitcoin, people will hoard it,
Take me as an example. I will invest 20% of my salary in Bitcoin because I think Bitcoin is very valuable and I believe in Bitcoin, so I think Bitcoin is worth investing in.

~snip~

In my opinion, Bitcoin is a store of value, not a currency. There may be cryptocurrencies becoming legal tender, but not now, volatility and supply and demand need to be considered.

^ You have already answered your question, you invested in BTC because you believed in it and your purpose is to hoard because you know that the value of BTC will always fluctuate that you can make money while hoarding and you are right. People have different choices in the first place, you can hoard and store value and you can purchase products from online merchants using BTC. But most people believe that hoarding is the best option to gain profit, it is very easy to gain profit in that way because they saw that the demand and supply really work in BTC and time will come when everybody is hoarding, BTC will become more expensive and that become a more valuable asset.

noorman0

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[Nope]No hype delivers more than hope

Quote from: skybot13x on August 14, 2021, 05:01:07 AM

What if Bitcoin fails at some point for whatever reason? Hack, founder turns out to be North Korean dictator and owns millions of BTC, whatever. That is why I said it can increase in value if.... It is often stated here as if there is no way around Bitcoin going to the moon. If that was the case and a guarantee so to say, we wouldn't be at $50k anymore. That expectation, or guarantee as it is often put, would have been priced in already, sending Bitcoin to the moon and beyond.

Trust can overlook failure.
Bitcoin has failed at some point mainly about its primary function for reasons of scalability. As in the OP, that over time people have started to have doubts that bitcoin will be the first option of payment instrument because it is no longer meeting the efficiency of retail-scale and considering its rarity.
This failure still can't shatter people's trust that bitcoin should be a top priority to invest in, even if other developers are starting to offer altcoin solutions with more scalability that are friendlier even those that are printed in smaller quantities.

Cafex

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I accumulate Bitcoin because I believe in it to make me a lot of profit in the long run. So far, we have seen that so many people have got rich thanks to Bitcoin. Or they increased their money really a lot. I think that Bitcoin is the best way to increase our assets among all of the cryptocurrencies in the market. If one is ready to be patient which is a very important thing for HODLing, then he/she can invest into Bitcoin.

Kittygalore

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Quote from: ?? on ??

Hoarding Bitcoin is better than hoarding fiat that is losing value over time. Fiat has a big inflated which is harming your earnings in the long term but Bitcoin does not have as much inflation and is rising in price in the future why would you not want to hoard something that is going up in price all the time?

Totally agree, and financial advisers are likely to discourage that too because they know that inflation renders money worthless if you don't circulate it in the economy and it also contributes to the increase rate of inflation. Also, hoarding is difficult right now because by definition, hoarding means that you have a lot of something kept and not spent and it's hard to even get to the 0.01 of bitcoin so I don't think that it's called hoarding.

molsewid

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Quote from: zasad@ on August 12, 2021, 10:15:29 AM

Fiat currencies are losing their relevance because they print out of control.
As soon as the US prints the next batch of fiat, other countries rush to do the same. This is the path to the depreciation of fiat currencies and the transition to a new financial economy.
Bitcoin is also not eternal, it can also die as soon as it completes its task. But it won't be soon

I do believe that as long as human kind continue to upgrade and develop in the way their life goes the possibility that in future we will encounter another way of revolutionize financial investment like what we have now a cryptocurrency is possible I mean maybe bitcoin could die but maybe it won't. Today we value fiat currency but because the point to point transaction or the utilization of the cryptocurrency was not yet fully implemented in every aspect of our life however people are now open minded to adopt the fast changing technology and also improve their financial aspects so yeah why not hoard a bitcoin if you could have it. In fact this is the smart choice that every person could ever made in their life.

Shasha80

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Quote from: ?? on ??

Hoarding Bitcoin is better than hoarding fiat that is losing value over time. Fiat has a big inflated which is harming your earnings in the long term but Bitcoin does not have as much inflation and is rising in price in the future why would you not want to hoard something that is going up in price all the time?

Your explanation is correct, it is better for us to hoard Bitcoin which has proven to be promising and can generate very large profits. Instead of
hoarding fiat whose value continues to decline due to the influence of inflation, therefore there is no point in hoarding fiat in banks. Use fiat only
for payments, then future savings should accumulate Bitcoin from now on. Try to study Bitcoin in depth, later we will realize that hoarding Bitcoin
will provide a lot of benefits that we can get.

MIner1448

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The problem is that investing 20% of a salary is psychologically difficult for many, I mean in terms of the amount, for example, I think that investing 20% in bitcoin from a salary is not a very good investment, because it is already expensive, these 20% will grow for a long time, taking into account such a price for bitcoin, it seems to me a little more convenient in altcoins, because they can rise much higher from the bottom ...

Obito

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Quote from: Melody kdl on August 11, 2021, 09:14:53 PM

Hoarding is very positive and important for Bitcoin. When you hoard, it's because you trust Bitcoin enough. According to experience, hoarding will lead to an increase in the value of the assets held. This is why everyone chooses to hoard Bitcoin. Value comes from market demand.The number of bitcoins is limited, and the ultimate value of bitcoins comes from market recognition.

It's not a positive thing, what if hypothetically one individual hoards bitcoin which causes them to artificially create an artificial increase in the prices which ends up with them only one profiting while those that buy don't even profit at all.

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