First of all, you must understand what currency is, and the essence of currency is collateral.
The biggest possibility for Bitcoin in the future is a store of value, and its status is equivalent to gold in the current monetary system because it is quantitative.
The currency in circulation, taking into account the annual economic growth and currency loss issues, will be a slightly inflationary currency,Like Dogecoin. This is also the fundamental reason why Musk is bullish on Dogecoin.
But in two decades, Bitcoin is still the best investment, bar none. Because it grabs the currency issuance rights of the central banks of various countries.
Topic: Why Hoard Bitcoin? - page 5. (Read 673 times)
Let me ask you, are you not saving your fiat on banks and use all your money in once? Obviously you're saving some part of your wages on your banks and use some part to pay daily expenses. This similar like Bitcoin, you can either use as currency to pay your daily expenses (if your country accept it) and holding the most part as investment. The problem is many country still ban Bitcoin and most of store doesn't accept Bitcoin yet. If many stores already accept Bitcoin, it will encourage people to use as a currency.
No problem. You can spend your money buying bitcoins and then spend your bitcoins. That way you will see the value of not only fiat money but also bitcoin, if you think the value is only in use. Really, don't be surprised in a few years when you realise that instead of one iPhone you could have bought several MacBooks.
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.
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.
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 my thoughts, wby?
Not necessarily "not for hoarding". In all the regions the local currency has high inflation people hoard EUR and USD basically as the easiest investment. Bitcoin price has been proven to be increasing greatly over time even against EUR and USD, even more against other local currencies. So it's not unnatural at all to see people (and companies too!) just hoard Bitcoin like they'd be hoarding gold.
Indeed, it would be a shame if people would be using Bitcoin only as investment (and no longer as currency), but it would not be a surprising move.
Well bitcoin is limited in number. The last unit you can hold or break down the bitcoin is one satoshi. The price can only gain if there are more investments into it, like more peeps buy it and hold it the more demand it has throughout the community.
In case of fiat, the supply is corrected when its needed. There is continuous printing of the money as we loose the money through trades, physical damage to the notes, coins etc. The supply can be restored.
However, bitcoin does not have that liberty.
Everyone anyways use it to buy and sell, but with limited sources to spend its more or less investment asset these days.
In case of fiat, the supply is corrected when its needed. There is continuous printing of the money as we loose the money through trades, physical damage to the notes, coins etc. The supply can be restored.
However, bitcoin does not have that liberty.
Everyone anyways use it to buy and sell, but with limited sources to spend its more or less investment asset these days.
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?
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.
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?
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?
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