Why Hoard Bitcoin? - page 3. | Bitcointalksearch.org

GeorgeJohn

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From my observation, is like you are in hurry when making this post, i have gone through your profile it seems that you are learning, but try as you can to arrange your text before posting.

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 an asset and it may be hold by any investor until the target of the investor is due, so it's base on time frame, so in the aspect of Fiat currency, Fiat currency normally be hoard by people who have surplus, using fixed deposit as illustration through banking system, some people drop million in the bank for fixed deposit and they will be annual increase in addition to the deposited fiat, so when the time negotiated with bank is due,is when you can have access to it, so in summary, everything happening in crypto sphere is also applicable in fiat values unless you misunderstood their similarities.

Mahanton

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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.

Its someones investment and choice whether they do make use of it as a currency or making out for circulation or would totally holding it out for future profits which it isnt surprising that someone
will really be deciding on not to spend those coins for some not worth things which if they could simply make or pay with their fiat then they would surely do it rather than on spending
a coin which does have potential on making big profits in near future in just simply holding it.Neither you could make use of it on the place on where you are residing or couldnt able to do so.
This is actually situational because not all would really be having the same impressions or mindset.

dothebeats

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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.

Odusko

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Bitcoin is not just a currency but also an asset that appreciates with time so most of the people holding Bitcoin are holding for the sole purpose of making profits from the currency as the price appreciates, Bitcoin is more valuable when it is held for a long time.
But then some use Bitcoin for transactions daily and also the traders who make hundreds of transactions in Bitcoin daily, bitcoin have much class of people who use it for different purposes.

rby

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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 was proposed in the btc whitepaper as a currency that will solve the problem of not using a currency without the involvement of the third party. It was clearly proposed by Satoshi as a currency. Little did he (Satosh) know that btc will be more than a currency. One factor that changed the perception of people about btc is the limited supply. Some speculators knew that since the supply is limited, the value will keep increasing, that is why they hodl it for a very long time. And I fear that some people may not spend their bitcoin till no new btc will be in circulation.
This system of holding btc for a very long time made btc not to be only a currency as proposed by Satoshi. The bitcoin is now also an investment assets. People are seeing it as gold and other investment assets. That is why they keep holding it for a long time.
There is no doubt that btc is better anyday. What you control yourself is better than what people control for you.
In conclusion, bitcoin is seen as a currency and an assets and that is why it is been hoarded by many people.

doomloop

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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?

They only say that it was better than fiat currencies (money) but they didn't say that they will be using their btc for spending because you know, btc has a different use too. Most uses it like an asset or as an investment to make a profit because btc value can fluctuate but more in an increasing side. This makes btc more valuable than spending it.

How can spending a btc be valuable if when you spend you are giving away your btc in exchange for items or something. Btc is in fact more valuable in most of the items that people spend on but except on the primary things that people need obviously.

Oluwa-btc

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Hoarding Bitcoin is somehow bad, this is because it reduces/ retards the flow or should I say the supply of money since Bitcoin is a currency.
Hoarding Bitcoin is also good because we watch and see it increasing in our wallet's, asides this, there are various benefits and merits of Bitcoin.
But I cannot say which of them surpasses the other.

tabas

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Quote from: GreatArkansas on March 18, 2022, 08:03:39 PM

Quote from: tabas on March 18, 2022, 06:13:48 PM

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?

Because of the higher value and purchasing that it will posses in the future.
(....)

And also because of the limited supply of Bitcoin that will be generated over time, unlike with fiat, if you hold fiat instead of Bitcoin, you will lose a lot of opportunities and always remember about inflation which Bitcoins solves it.

Yes, along with having a supply limit, that adds to attribute of it for having a good value in the future which all of us are waiting for.

Quote from: GreatArkansas on March 18, 2022, 08:03:39 PM

Basic economics, supply, and demand. That's why even how volatile Bitcoin people are still holding it, even how huge Bitcoin is dumping its price, people still choosing to buy more and hold.

And since it's also in the mainstream, that sums up the true value of bitcoin that we haven't seen yet. The true value could be the actual ceiling price of it maybe after the next few halvings that are about to come. To those that still don't have much bitcoin, do not give up and DCA it while the price hasn't reached 6 digits.

KaliLinux

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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?

In the real sense, I don't think Bitcoin was designed to be spent like the way fiat money is been spent on daily purchases but rather as a hedge against inflation but even though we see some few investments where Bitcoin is been accepted for goods/services, I don't see this as the real essence of Bitcoin hence investors will rather HODL their Bitcoins since it is highly volatile and its price can double or quadruple in time which Fiat cant do.

smartaction

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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 better than Fiat money because Fiat Money is a stable currency whose value does not change and the price of Fiat money does not increase much. The value of Fiat money is decreasing day by day. But on the other hand, the price of Bitcoin is increasing day by day and its popularity is also increasing day by day. Fiat Money has a fear of inflation. But in the case of Bitcoin, there is no such fear. The supply of Bitcoin is limited. So it would be better to save bitcoin because the price of bitcoin will increase a lot in the future

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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 is better than fiat in many ways, but currently is not used as regular currency like fiat due to various reasons. One on them is that people are not willing to accept bitcoin when making payment due to different reasons such as volatility and hard to understand regulation. But eventually solutions will be found for the problems and then bitcoin and crypto currencies will become mainstream causing the price of bitcoin to rise. This is what all those "hoarders" (holders) know and thus they are buying more bitcoin to maximize their profit in the future.

Ryu_Ar1

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We use a simple context by looking at rare antiques that you have kept for a long time.
When the goods you store have a high aesthetic value and can be said to be very antique, then when it is auctioned the longer your item is, the more expensive the price in it will be and it will not be the same when you sold or bought it when you bought it.
Likewise bitcoins. Their supply is limited and the longer the bitcoins are getting harder to get (which I call rare) will the price stagnate? Of course not, then this will indeed be more expensive and will be different when you buy and sell in previous years.

ropyu1978

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The reason I hoard bitcoin is because of value, if there is no value I definitely will not hoard bitcoin, I also hoard my fiat, but not because to get profits in the future, but to keep my fiat money safe, and not wasted in vain, if I don't save my fiat money in the bank, of course I will use the money for unimportant purposes, but if I hoard bitcoins I definitely want to make a profit, because I have a belief that the price of bitcoin will definitely rise someday, and I also believe that bitcoin will become a medium of exchange someday.

rat03gopoh

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Bitcoin is still dominated by investors rather than users who take advantage of the use of bitcoin. Otherwise, you may need to observe bitcoiners with different attitudes or habits.
"Hoarding" in this case can also mean they don't actually store in a personal wallet. Assuming some bitcoiners use a centralized service to spend bitcoins, they unknowingly accumulate the amount of bitcoins stored in the wallet of that service.

GreatArkansas

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Quote from: tabas on March 18, 2022, 06:13:48 PM

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?

Because of the higher value and purchasing that it will posses in the future.
(....)

And also because of the limited supply of Bitcoin that will be generated over time, unlike with fiat, if you hold fiat instead of Bitcoin, you will lose a lot of opportunities and always remember about inflation which Bitcoins solves it.

Basic economics, supply, and demand. That's why even how volatile Bitcoin people are still holding it, even how huge Bitcoin is dumping its price, people still choosing to buy more and hold.

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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,

Because right now, it still collides with various regulations in various countries that are not yet possible if Bitcoin is used as a full currency. And holding Bitcoin does not mean hoarding and making its value fall. Apart from being a currency, Bitcoin is also a very valuable and promising investment. So, why not?
There is a time to make this happen, it's o progress and this is not as easy as we think.

tabas

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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?

Because of the higher value and purchasing that it will posses in the future.

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

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 is true but bitcoin is not the same as fiat money with the same and stable value. Bitcoin's value is volatile and from there, you can get an idea of why we've chosen to hold it for years. Even many of us are holders, it doesn't stop us from using it because there's still a time that we have to sell even if the price is quite low.

amishmanish

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Bitcoin is hodled by those for whom it has become their claim to wealth. Imagine you are someone from 8-10 years back with 1000 of BTC obtained for a minute fraction of their present value. If you are one of those people, it is hugely possible that you have done well subsequently by branching into other dev activites and have done tremendously well and are no longer on this forum.

You do not need to sell your thousands and all you need is for BTC adoption and belief to keep growing. So while you keep pushing out newer stuff, you want Bitcoin to stay the way it has always been, at the frontline of all the growth.

Nobody with that amount of bitcoin needs to sell. They are not hoarding it, its just their wealth and there is no need to cash out to fiat when it can very well serve as a foundation for whatever they decide to do in the crypto-space.

evilgreed

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Op, you should understand that bitcoin is not that convenient yet compared to fiat or any Crypto currency out there. Bitcoin as of now, cannot stand alone yet. And with regards to people hoarding bitcoins, it is because of its potential to grow in price massively in the coming years due to it's low supply and hype. The mass adoption is growing more and more which makes thousands of people if not millions become aware or curious about bitcoin because it has been used as a means of helping the Ukrainian people. If the institutions starts buying bitcoin, this price range we are in right now will be something that we'd never see again.

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