Why Hoard Bitcoin? - page 2. | Bitcointalksearch.org

pawanjain

hero member

Activity: 2702

Merit: 716

Nothing lasts forever

Quote from: GiftedMAN on March 18, 2022, 01:47:20 AM

If Bitcoin is a better and higher currency than fiat, why then do bitcoiners hurdle it?
I think money is best used for buying and selling not hoarding, we get to see the value more when using it.
This my thoughts, wby?

This is basically because bitcoin currently serves two purposes. One is to act as a currency for payments and the other is to act as a tradable asset.
The reason why people hoard bitcoin is because they treat is an asset which has high increasing value.
There are others who don't hoard bitcoin and rather spend it for payments because they treat it as a currency for method of payment.
There's no right or wrong here and it's just how a multi-value coin behaves I guess.

Ale88

legendary

Activity: 2576

Merit: 2880

Catalog Websites

Quote from: GiftedMAN on March 18, 2022, 01:47:20 AM

If Bitcoin is a better and higher currency than fiat, why then do bitcoiners hurdle it?
I think money is best used for buying and selling not hoarding, we get to see the value more when using it.
This my thoughts, wby?

Bitcoin is becoming also a store of value against the inflation, which is pretty high now after all the money they printed during the pandemic. Also bitcoin is not very common yet as payment method, this kind of things take time. Back in the '90s you could send an email if you wanted, but few people were using it so fax and mails were more used. With bitcoin will happen the same, we just need to wait.

xSkylarx

hero member

Activity: 2366

Merit: 594

Quote from: GiftedMAN on March 18, 2022, 01:47:20 AM

If Bitcoin is a better and higher currency than fiat, why then do bitcoiners hurdle it?
I think money is best used for buying and selling not hoarding, we get to see the value more when using it.
This my thoughts, wby?

When it comes to real life, I believe the best example is when people buy land because the value increases over time. In the case of bitcoin, people hoard it because they can afford it now and will benefit greatly when its value increases significantly later on in the future. The majority of the time, it is for financial gain, but it can also be for humanitarian reasons, such as food in a foodstore that is being hoarded now because the price will rise next week. Even so, banks are not advising us to keep money in our piggy banks because of the economic cycle, and this is true for bitcoin as well.

qwertyup23

hero member

Activity: 2268

Merit: 789

Quote from: GiftedMAN on March 18, 2022, 01:47:20 AM

If Bitcoin is a better and higher currency than fiat, why then do bitcoiners hurdle it?
I think money is best used for buying and selling not hoarding, we get to see the value more when using it.
This my thoughts, wby?

First and foremost, there seems to be a flaw on your first statement. Bitcoin is definitely not better than fiat; and fiat is not better than bitcoin. Both can co-exist as they have their respective functions depending on the transactions. Since fiat is the universally accepted currency in the world, countries accept and view it as such which makes it legal. BTC, on the other hand, has some sort of regulation where other countries are constrained to prohibit or limit its transactions.

With regard to the question, BTC can be considered as a good store-of-value investment due to its inflationary value. By basing it primarily on the price history index, you will see that its price skyrocketed and increased more than 1000% of its original value.

Again if you are looking for a long-term investment, then it is highly advisable to invest in cryptocurrencies.

Rockstarguy

hero member

Activity: 1050

Merit: 592

God is great

Quote from: GiftedMAN on March 18, 2022, 01:47:20 AM

If Bitcoin is a better and higher currency than fiat, why then do bitcoiners hurdle it?
I think money is best used for buying and selling not hoarding, we get to see the value more when using it.
This my thoughts, wby?

For sure Bitcoin is better than fiat while holding Bitcoin it add value. Even if you hold your fiat it won't appreciate instead fiat depreciate. Apart from using the fiat for buying and selling people still save it in the banks just as holding Bitcoin but it does not have good reasonable profit. Instead of me keeping my money in the bank I will rather convert it to Bitcoin and hold it , its very certain their will be profit.

Sebas.tian

full member

Activity: 2184

Merit: 184

Hire Bitcointalk Camp. Manager @ r7promotions.com

Quote

If we draw a parallel between the creation of bitcoin and today, we will see a huge growth over the years, so many accumulate bitcoin with the prospect of growth, and any fiat currency has properties to depreciate over time, so many people see bitcoin as a reliable and stable cryptocurrency from inflation.

Yes, the parallel has showed massive growth of bitcoin from the creation till date. Many people weakness the massive growth of bitcoin during the pandemic that took over 2 years and some months where fiat money was depreciated at the moment which was causing bitcoin a serious pumping through out the period. People began to see bitcoin as a reliable and stable coin to invest a huge amount of capital to remain in profit making in the community. Many people sustain from the inflation through bitcoin investment because the price of bitcoin was so stable for long term holders to recover all their losses.

Vaculin

hero member

Activity: 2940

Merit: 613

Winding down.

Quote from: mk4 on March 18, 2022, 02:25:53 AM

It's pretty simple — because some people think that it will be far more valuable in the future; not to mention that in it's current state, bitcoin isn't that widely accepted for payments just yet.

Also, not everyone is sold on the BTC as a currency concept; some people just look at it as a decentralized asset like a digital version of gold.

But for us, we know that bitcoin will be very expensive in the years to come so as much as possible, we will maximize hoarding bitcoin. And its a good thing really that most of the countries are not legalizing bitcoin yet because when that happens, bitcoin can already be used to buy and sell like a usual fiat. And people will more likely to spend it and will miss everything about bitcoin's higher value in the future.

JayTrain

full member

Activity: 1092

Merit: 105

Sugars.zone | DatingFi - Earn for Posting

If we draw a parallel between the creation of bitcoin and today, we will see a huge growth over the years, so many accumulate bitcoin with the prospect of growth, and any fiat currency has properties to depreciate over time, so many people see bitcoin as a reliable and stable cryptocurrency from inflation.

Kasabus

hero member

Activity: 2814

Merit: 576

Quote from: Poker Player on March 18, 2022, 01:50:53 AM

Quote from: GiftedMAN on March 18, 2022, 01:47:20 AM

If Bitcoin is a better and higher currency than fiat, why then do bitcoiners hurdle it?
I think money is best used for buying and selling not hoarding, we get to see the value more when using it.
This my thoughts, wby?

It's just that "better" as you use it in this context is very imprecise. Bitcoin is more valuable than fiat currencies, it is a currency that has to appreciate and fiat currencies tend to depreciate. So if you have to make an expense, what are you going to do, spend the good currency (Bitcoin) and save the fiat currency? What you would do in that case is to impoverish yourself. If, on the other hand, you spend the bad currency and save the Bitcoin you will tend to get richer.

As long as fiat exists, bitcoin will always be a good store of value. Otherwise, spending it simply means you will miss the chances to be more profitable when its value even grows more. However, some people use it as a currency because its certainly its real purpose. Well, sometimes you also have to spend it especially if you run out in fiat, but in most cases, if you want to be more sustainable in making profits, spending bitcoin while its value is increasing is never a good idea. Spend fiat but always keep bitcoin for long term investment.

wiss19

sr. member

Activity: 2296

Merit: 348

Quote from: ?? on ??

In addition to being used to buy and sell, bitcoin like gold and other currencies, their value will change according to demand. As we have seen bitcoin has increased tens of thousands of times in value since it was created till now, and we have the same desire that the price of bitcoin will increase even more. So it is not difficult to understand when people will accumulate bitcoins instead of using them for daily exchange.

Yes, most people will definitely choose to hold their bitcoin instead of using it for daily transactions. If you are steady using your bitcoins for daily transactions you are going to lose them and it might even be at the time the market will increase in value and you end up missing out from the profit you would have made if you just held your bitcoins in your wallet. So, it is clear that most people who hold their bitcoins are doing so because of the profit that they expect from it.

It is also good for transactions and I do see a lot of people that are using it to make transactions especially when it has to do with sending money abroad. Banks are not really a good choice these days for anyone that wants to make transaction to someone that is living over in another country. The delay and the fees you have to pay for the transactions is really much compared to using bitcoin and having the transaction made within a minute and also paying less fee.

wozzek23

sr. member

Activity: 1568

Merit: 283

Do you ever check the daily trading volume of Bitcoin? If you do check it you would know that there are lots of people who are using bitcoin to make transactions everyday or buying and selling. Of course there are many people these days who feel it is best for them to just hold their bitcoin because they are trying to save value.

It is a matter of choice whatever you feel is best for you to do with your bitcoin, then it is best that you do that. And majority of the transactions that we do these days are mostly with Fiat.

I take myself as an example because where I live you wouldn't see anybody who is accepting bitcoin or any cryptocurrency at all for payment. The only way you’ll be able to find someone accepting cryptocurrency for payment is through online and even online you would really find it hard. So I mostly use bitcoin to save value for myself, which is indeed a good thing to do, but also because I have less options to spend it.

ChiBitCTy

legendary

Activity: 2282

Merit: 3014

I am in agreement with you. So often I hear people using the phrase “HODL”, which I of course think just like with any money that you should “stack” it, but money is also meant to be used to purchase goods and services and I think this is another way to garner mass adoption.

dunfida

legendary

Activity: 3122

Merit: 1140

Quote from: darewaller on March 21, 2022, 04:59:02 AM

Quote from: GiftedMAN on March 18, 2022, 01:47:20 AM

If Bitcoin is a better and higher currency than fiat, why then do bitcoiners hurdle it?
I think money is best used for buying and selling not hoarding, we get to see the value more when using it.

The greatest reason for me is the fact that bitcoin is definitely a better method to save my "wealth". I mean it would be awesome if I could spend it as well but there is no scenario where I can pay my bills, go to cinema, buy groceries with bitcoin just yet. One day that will surely happen as well, not going to be anytime soon globally, but there are few places that started doing it so I am assuming it should be fine. Aside from that, I believe that it shouldn't really be a problem at all.

I believe that we could technically go for more of an investment and trying to protect the money we have right now and not lose it against the inflation.

Adoption and recognition is on the move even though we arent able to make use of our coins directly but somewhat there are services which could make things possible but of course that would be touching 3rd party

again which is something that people doesnt like.They do really love to have that p2p manner.Hoarding up bitcoin neither be intending for the sake of profits in future or would typically be supporting it in speaking

with actual relevance and utility.We do have our own personal perceptions and impressions towards it so its not actually surprising.

Reatim

sr. member

Activity: 2828

Merit: 357

Eloncoin.org - Mars, here we come!

Quote from: ?? on ??

I think Bitcoin will grow a lot at some point. Then maybe everyone will regret a lot.I am depositing bitcoin in some way. I'm sure this bitcoin can be used anytime. I am now investing on Bitcoin instead of investing money on the other side.All my friends are making money by working in cryptocurrency but I am investing in cryptocurrency without making money.I know I will one day succeed here.

Bitcoin will always be the best investment ever we knew and there are nothing i can choose to rest my funds for the future of my family and love ones and yes I am pro in Hoarding bitcoin and won't let my funds sit in any places .

Quote from: ?? on ??

Maybe because bitcoin is limited in nature, unlike currency in general and that's why bitcoiners prefer to hoard it. If bitcoins are shared equally among all people in the world, is it possible to do daily transactions? Unlike gold, gold can be hoarded or used as currency, because gold can still be produced or mined from nature, even though the amount is increasingly limited.

we are all here in crypto and specially in Bitcoin that is what the reason why there are so many people hoarding Bitcoin Nowadays .

darewaller

hero member

Activity: 2926

Merit: 640

Quote from: GiftedMAN on March 18, 2022, 01:47:20 AM

If Bitcoin is a better and higher currency than fiat, why then do bitcoiners hurdle it?
I think money is best used for buying and selling not hoarding, we get to see the value more when using it.

The greatest reason for me is the fact that bitcoin is definitely a better method to save my "wealth". I mean it would be awesome if I could spend it as well but there is no scenario where I can pay my bills, go to cinema, buy groceries with bitcoin just yet. One day that will surely happen as well, not going to be anytime soon globally, but there are few places that started doing it so I am assuming it should be fine. Aside from that, I believe that it shouldn't really be a problem at all.

I believe that we could technically go for more of an investment and trying to protect the money we have right now and not lose it against the inflation.

lienfaye

hero member

Activity: 3010

Merit: 629

Quote from: GiftedMAN on March 18, 2022, 01:47:20 AM

If Bitcoin is a better and higher currency than fiat, why then do bitcoiners hurdle it?
I think money is best used for buying and selling not hoarding, we get to see the value more when using it.
This my thoughts, wby?

We know Bitcoin is not fully accepted as digital currency. Thus its not unusual if we cant directly spend it to buy goods or services that fiat can do. Even Bitcoin is more known today than before, many people are still not aware of Bitcoin's existence.

On the other side, Bitcoin is like a digital gold, valuable and profitable to hold for long term as an investment because of the unstable price. This is one of the reason why some users prefer to hold rather than spending it. If you know the history of Bitcoin and the early price, you'll understand why.

We're not saying its a guarantee to gain because every investment has risk. But for users who believe in Bitcoin, holding is a wise decision.

peter0425

sr. member

Activity: 2618

Merit: 439

Quote from: GiftedMAN on March 18, 2022, 01:47:20 AM

If Bitcoin is a better and higher currency than fiat, why then do bitcoiners hurdle it?
I think money is best used for buying and selling not hoarding, we get to see the value more when using it.
This my thoughts, wby?

because of the concept the crypto world brings to the users , in which the word "HODL" represents .

People up to now believes that Holding is the best strategy for Bitcoin( and of course to other currency) to make great return as they tend to keep it or Hoarding it without spending even a little part in which i believe hinders the opportunity of Bitcoin to be accepted worldwide .

24Kt

member

Activity: 1092

Merit: 67

Quote from: ?? on ??

I think Bitcoin will grow a lot at some point. Then maybe everyone will regret a lot.I am depositing bitcoin in some way. I'm sure this bitcoin can be used anytime. I am now investing on Bitcoin instead of investing money on the other side.All my friends are making money by working in cryptocurrency but I am investing in cryptocurrency without making money.I know I will one day succeed here.

Why not diversify your portfolio so you won't regret if your expectations are not met? We can't tell that bitcoin or crypto will be very profitable in the future as it depends on various factors. In my case, I am also investing in gold in the form of jewelry, so I know, if anything comes worst in crypto, I have tangible asset to back-up my situation. Though we have different takes on this matter, but you need to widen your horizon so you are not stuck in one option only.

Rufsilf

sr. member

Activity: 1778

Merit: 309

Quote from: GiftedMAN on March 18, 2022, 01:47:20 AM

If Bitcoin is a better and higher currency than fiat, why then do bitcoiners hurdle it?
I think money is best used for buying and selling not hoarding, we get to see the value more when using it.
This my thoughts, wby?

Fiat currencies are designed that way and to use it on daily basis, not for hoarding it because its value is deprecating yearly because of inflation. While bitcoin may be more volatile than fiats but its value is increasing as time goes by because its supply is only limited rather than fiats whos supply is increasing yearly and that's also the reason why bitcoin is good to hoard or save it.

darkangel11

legendary

Activity: 2478

Merit: 1360

Don't let others control your BTC -> self custody

Quote from: dothebeats on March 19, 2022, 03:47:13 PM

It is intended to be spent yes, but the amount of channels and areas where it can be used to is lacking, hence why not a lot of people are enthusiastic in spending it. Also as of the moment, it excels as an asset, and a lot of entities are seeing it as an effective one, so why not use it on where it is good at?

Bitcoin's capacity as an asset is just better than its utility as a currency.

It's the basic law of economics that inflation makes people more eager to spend money, thus all fiat currencies are inflationary. Assets on the other hand often gain value and people keep them for a long time to save some of their wealth from inflation. Wealth they don't need at the moment but may need in 10 years or so and in 10 years with 5% inflation that would halve in value if kept in cash.

Bitcoin was made to be a currency but is so valuable that serves as an asset. It doesn't mean something is wrong with it. The public ultimately decides how it views things.

Topic: Why Hoard Bitcoin? - page 2. (Read 669 times)