Topic: Why hoard Bitcoin? - page 5. (Read 1123 times)

That is a very simplified view of reality. If that was the case, why is any coin with less supply than Bitcoin not more valuable than Bitcoin? Because demand is a more complex term that what people sometimes make out of it. Anyway, assuming that Bitcoin has to rise simply in assumption based on the premise that demand will at least not drop. But who knows whether that is the case? 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.

Basic things that you should know when you do tend to jump in into crypto industry.Know the basics and of course you would be starting with Bitcoin. Usage and possible adoption? You had already mentioned out and its

undeniable about that store of value thing and come to think off that becoming mainstream is somewhat a dream to come true. Fiat would remain and it would exist as long government do exist.

We cant really deny that Bitcoin does have the potential and its up to someones choice and liking if he wanted to hoard bitcoin which is understandable and majority of people who are engaging on it is really seeing it
as an investment rather than a currency which it isnt surprising due to the opportunity that it do gives when it comes on making profits.

actually returning to the intentions and desires of each person himself because when talking about guidance, of course, beginners need guidance and advice that at least can be used as a reference.
but this is especially so in a sophisticated era like this it should not be difficult for that, because now there are a lot of good starting from the discussion, how to read the market and others have been widely circulated on social media even in the form of not only articles but videos and many other things. once associations like bitcointalk this can help their insight.
but the problem is whether they want it or not because most of the beginners don't want to bother looking for things like this they just wait for news from people and join the hype into the pump and dump. although not all of them are like that but most of them use this way to be in crypto so it is very likely that they lose their money here.

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

People keep on eyeing bitcoin because they know its potential and they trust it will have a higher value in the future. I am one of those people that believe so much in what bitcoin has to offer in the present and in the future. Bitcoin has already proven its strength over the years now. It has shown its potential and it has already withstood the test of times which most currencies fail to do so, hence the latter often die out later. Bitcoin survived all the bad things thrown at its way such as it being associated with schemes and scams which is definitely false, but often heard and seen most especially in mainstream media.

In addition, the bitcoin count in circulation is limited. This coin is very scarce that is why it is safe to inflation like most people say, just like with gold. Hence, its value tends to go up and up as time passes by. There are also many investors entering and putting their funds on bitcoin which makes the demand higher that leads to bitcoins value to pump. I totally understand people that want to invest as much as they can in bitcoin because it is a safe haven for storing funds, what can you ever ask for right? However, also be reminded that bitcoin isn't a get-rich-quick-scheme like most people assume. This type of investment requires vast knowledge and capital, of course, to be able to start. So, like any investment vehicle, always invest at your own risk. Risk only what you can afford to lose so you won't lose your mind the moment unfortunate events happen.

Its hard to agree on something especially we know how bitcoin is so technical about its movement although its quite unpredictable but we can say that we can earn on it if we study or learn the technical aspects about bitcoins. Although holding is really good to do but we don't hold anyones feelings so provably to not cross about our limits so that we can earn that coin. 

Also hopefully that we can see more adoption since this could really save us for those bad incidents.

If you want to hoard bitcoin, you do not have to buy at once but you can buy many times and that will recommend as you can buy bitcoin at much lower prices. You do not have to use bitcoin to pay for some services or buying goods but you can hoard bitcoin right now while you still have a chance.

In some countries, people can use bitcoin to pay the goods or services but right now, it is better to just save your bitcoin in your personal wallet and not sell it for some time. People hoard bitcoin because they believe the bitcoin value will increase so high in the future, maybe not in the next 5 years but the next 10-20 years. But I guess they will start to sell some bitcoin amounts when the price can hit more than $100k-$200k because that will be a lot of money for them.

the main purpose of hoarding our bitcoins is for long-term investment, with the hope that later we will have a lot of profit from that investment. I think while we still have free money left ma hoarding bitcoin is very necessary to get financial freedom in the future. because we know that later as more and more people adopt bitcoin the price will soar

Yes, Bitcoin is worth investing on because it's becoming more recognized and more institutional sector are adopting it which contributes to the growth and increment of its value.


It's just a matter of time, and I hope it gets more circulated and acceoted as a mode of payment within a short period of time.

in fact since people started doing math that the bitcoin supplement would be small and the demand for bitcoin would be high and most very rich people would be buying bitcoin to make hodl in the long run people realized that bitcoin would increase a lot by price and with that they started to buy to make hodl. the problem is that a lot of people have also started to forget that they shouldn't do eternal hodl, they should also think about spending bitcoin when they make a profit.


 

I invest 100% of everything I have in bitcoin, I sold 80% of my stuff, I sold my computers and video cards and to buy bitcoin, and I don't regret it


but this is a mistake a lot of people are making, bitcoin should be used for payments, i use my bitcoin to pay for things when i already make a profit thanks to bitcoin


bitcoin Is currency, it all depends on the use that each person is giving

20% of the salary is quite a lot, in my opinion. Unless you can assume that you have a good salary. Even in the "American Dream", it is proposed to save 5%  to become a millionaire in the future. But of course, this is your own business. For my part, I buy and store bitcoins for the future of my children. They are still small, and over time, if I do not touch my deposits, I hope that this will bring my children some good money.
Nevertheless, this is my hobby, which I do not have high hopes for, and do not spend all my money to the detriment of my family. Moreover, I hope for the future development of bitcoin, which will be accepted by governments, so keeping my deposits secret, I hope, will not upset the tax authorities of my country.

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

If it is only applicable in our country, I supposed to pay with Bitcoin of course.
I really don't think hoarding is a must when we are considering Bitcoin as a form of currency. This is what makes the adoption so slow because instead of encouraging people to use Bitcoin and able for the merchants and business owners to accept Bitcoin the more we are encouraged to hold.

I could say this will only drive Bitcoin far from what we aim for as a currency.

Bitcoin is valuable. We believe that Bitcoin is used to hoard it or invest in Bitcoin.
But if you use Bitcoin for payment transactions, when the price of Bitcoin rises again, you will regret using Bitcoin for payment. This is a normal psychology, because the price of Bitcoin is fluctuating. Maintain a good attitude.

Savings are necessary for investment. Investment is good, but you cannot invest without saving first. So hoarding is just another word for saving. There are two very different ways of saving. Hoarding is one of them, investment is the other. The biggest difference between the two is that hoarding takes money out of circulation, while investment keeps money in circulation, even if you are saving.
If you can hoard a large amount of Bitcoin and hold it for a few years, you will see how the price changes that year, and you will experience the beauty of Bitcoin.

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.

Personally I invest btc and hoard it because I believe that its price will go up so it's good to invest. It's even true that I will also set aside my salary to invest in btc so indeed I have divided my fiat money to invest in btc and also for other daily needs. The money that I have invested in btc is inviolable and I will focus on managing it well so that I can make the profit I expect. Not that I'm going to hoard my btc forever but I'm going to hoard it until I feel it's time to sell it for the price I want. I hope it will profitable

That's what you believe but the reality is that satoshi made bitcoin as a currency for us to use for payments. But with all of that's happening in the world and everyone is looking for every opportunity. We all agree that bitcoin is a store of value, we won't sell it anytime if there's no need to and just choose to hold it until we can. We are aware of the possibility that awaits in the future and how valuable it is to keep it. I would be happy to hold most of it and still spend a little for things that I want and accepts bitcoin in payment.

Bitcoin has two functions, as a digital asset (investment) and a digital currency (payment tool).
There is no problem with those two functions of Bitcoin. It is surely your right to use it for investment or for payment tool, both are possible and worth. If you think it is not a currency, you are wrong. In the fact, Bitcoin is already used as a payment tool. Don't deny the fact, mate!!

Why not? When do you think the right time?
Sooner or later, Bitcoin deserves to be a legal tender. I think El Salvador already showed us the potential of Bitcoin to be legal tender. This country has no doubt to begin Bitcoin as a legal tender. Now, some countries already consider following it as well.

Many of us are seeing bitcoin not as a currency but as an investment because of the volatility.

Its a store of value, an speculative that can increase further depending on the demand thats why holding for some of us is the best choice since it can give us profit once bullrun occur and btc reach another ath.

But holding is only for people who believe in it and you're free to make a choice. Its a currecncy that we can spend but it can be an investment as well.