Topic: Why Hoard Bitcoin? (Read 673 times)

The price is lower than 70k but there is someone that still finds the current price high and they are not investing with this rate. There was a popular demand for 30k and there are even people want the price to dip back at 10k, this one is more crazier and I don't know if that is now possible now that there is already a strong support for bitcoin on this era.

On the other hand, there are people that wants the opposite thing where they want bitcoin to pump at higher levels because these people have already bought before and maybe they simply miss the chance to sell at highs. We can be sincere only if we know that we pick up the right coin.

One thing you should understand @OP is that, hurdling of currencies isn't limited to only bitcoin or cryptocurrencies. Fiat too can be or is hurdled too. Just as new bitcoins are brought into existence by the activities of miners, so is the fiat notes brought into existence by the the Central Banks printing of notes. By simply printing more or less, it could lead to inflation or deflation within a nation.

Also, you don't get to see the value of a thing by making it so common or increased supply. Values are determined in cases of scarcity, when the demand supersedes its supply. Its a  simple demand and supply rule.

You can be rest assured bitcoin is been spent by most users when necessary and one of the reasons that accounts for bitcoin been hodl today by most users is that, bitcoin is yet to surface in the mainstream as needed. With many merchants yet to accept it for a means of exchange and government legalisation of the currency, its use case becomes difficult.
 
Again, bitcoin isn't just a currency and as such, linking it with fiat could be wrong. It serves more than one purpose and one of those is as an asset of real value. Just like the real estates, you don't buy and sell a property almost immediately. You wait for price appreciation or the industrialisation of a locality for the value to materialise and then you sell. With bitcoin still gaining popularity and acceptance around the world, it's real value is yet to materialise fully if ever and to make the most, one has got to hodl.

The best time to invest/hodl is now that the prize is low and since it once get to it ATH last year there's  every possibility for another reoccurrence this year as well breaking forth to over $70k before the end of this year, there is much anticipation on fear of missing out if one should invest and needed to sell as a result of other matters arising when the prize is already on a deep but to be sincere to holdl for an investment pays often than not.

This is exactly the right approach. The fact that "if it was 70k once, it could potentially be 70k again and it wouldn't be a surprise to anyone" is a reality. We all know that it will become 70k all over again, the only question is "when" and not will it happen or not.

This means that if you ignore when it will happen, or do not care how long it will take, you could potentially just focus on making as much profit as you can right now, and invest as much as you can, then wait for it to reach there. It could be 35k, it could be 45k, you could buy from any price and increase your holding of bitcoin, which will result with a good return in the long run when it becomes 70k.

So who says others need to know you're using btc to buy your stuff? Show me one single purchase you've ever made with Bitcoin that made others in your life curious.

Use PayPal, they'll send you emails which friends or bosses or colleagues might see. Use banks and you'll get mail every now and then your neighbours can steal or open or your parents can.

You're saying the entire world should wait for their country to make it legal tender? Only one country does. And you can bet they're watching their citizens since they got them to use a wallet they paid to develop. Talk about curious eyes.

Well, everyone who has been here knows exactly the purpose of having Bitcoin but those who don't understand this will certainly ask why? Why people are buying and holding which in fact this considered an alternative currency. Well, I appreciate it if those people who held their Bitcoin for many years understood the purpose of doing this. We think of returns but most of all, we help the faster adoption that holding isn't helping it, we instead use this to buy stuff and even to pay bills. In this way, many establishments will then be able to offer such payment options other than fiat.

Of course spending bitcoin would help, but what would help even more is people understanding what inflation is and why their money keep losing value year after year. If a lot of people have bitcoin then it's going to be easier for businesses etc to actually accept it.

It is precisely the essence of bitcoin, freedom.
We are free to choose its usefulness. Some buy to accumulate more. Others use it on P2P exchanges on a daily basis to make a living.
There are Freelancer who earn in bitcoin they will spend it for their needs and if they can save from their income simple hodl.
Blockchain developers every day create dapps to provide the best solutions to gain more crypto users and the day will come when bitcoin will be used by many everywhere.

all their bitcoiners are bitcoin-loving people, there's no way they can get in the way. use those bitcoins to invest and earn. the purpose of bitcoin is for financial freedom. everyone expects that, fiat is the ultimate goal of investing in bitcoin. I think the two have mutual equivalence.

The main reason for me to have BTC in accumulation mode is that since its last ATH was for almost $70ky this is something that gives the total motivation to accumulate all the necessary btc, and considering that BTC at any moment it can go up in price it is natural that there may be certain changes, either down or up, but at some point it will go up, and it is better to see BTC as an investment and at the same time as a savings, a savings that will give more privileges than a normal and traditional bank. At least I am sure that I will have a return greater than the 24% that a bank never gives annually.

Almost every country have got their teams creating CBDC. When it comes to CBDC, governments can control each and every activity happening within the network. The same isn't possible with bitcoin. Some countries prioritise bitcoin as reserve, but never intend to consider it a transaction asset. There were few CBDC projects in which few countries have got involved to make a common platform for cross border transaction between those countries. Another important reason for CBDC is to make taxation easier.

Bitcoin have got multiple usage access and the same makes it more of an investment and store of value than a medium of exchange. Even the common people aren't much into using it as a medium of exchange. The priority is for long term profiting.

I think we need to distinguish between the money we need for our daily lives and the money we want to invest in. Our salaries usually come monthly and are paid in Fiat money, most of our bills like energy, water, gas, fuel, food and car insurance are being paid in Fiat also. For such payments inflation is not really an issue, money comes in monthly and is being paid monthly. The problem is with money we invest in. In the past there were savings account which over like 2-4% interest per year, covering the inflation rate. But now we have interest rates of 0% and inflation of more than 2%. It makes no sense to save in Fiat. Better to go for long term crypto currency investments.

I have a strong feeling many governments will do their best to keep bitcoin from being the primary medium of exchange. Their efforts will be in the name of their future CBDC. They can't have a successful digital currency when bitcoin and its LN is processing the majority of the transactions.

I think that bitcoin remains a strong store of value for the foreseeable future. However, I am not sure how long it will take for the 'medium of exchange' use case to truly take hold.

To understand the functions of Bitcoin we must, first of all, know what Bitcoin is, and how it works.

Bitcoin is not just a currency for exchange but also an asset for holding this is why Bitcoin is referred to as the digital gold, in as much as we use Bitcoin to do our daily transactions if Bitcoin is held for a long time its value appreciate bit Bitcoin can never replace fiat currency and will only perform the alternative function.

It depends on your usage needs, buying and selling still happens every day with bitcoin.

Most people try to accumulate bitcoins for themselves instead of trading because they are saving for the future. Looking at bitcoin history, you will see that the value of bitcoin relative to fiat has increased thousands of times while fiat is still depreciating day by day. So the best way to increase wealth and protect it from increasing inflation holding bitcoin is a great idea.

Some would really be minding about circulation but majority would really be minding about long term recognition or adoption which some are really focused on.
Speaking of hoarding then this is usually pertaining about long term profits which we know that high chances that it could really happen basing off with the potential that it does have.
So its a persona preference whether you do hold or actively spend it on various things but it is just common sense that we do need to make more profits.

Well it does matter if everyone wants to hold or use it in a transaction, as long as bitcoin has gained mass adoption, the value could be increased and surely will get the benefit. This is because the investors want to hold for a value and to have profit, there are so many bitcoin hoarders who are waiting at the right time when they will have a profit. However, we have a right to whatever we do on our bitcoin, either you will choose to spend or to store value and it is up to you. But the chances of accumulating while it is cheap will perhaps you will be misled.

They hold Bitcoin not because they can't spend it and use it for purchasing goods and others but people are seeing this as a valuable asset like gold that is valued more in the future. If only possible that it was accepted as currency wherever we go, that possible people will use this then instead of fiat. But people never see it and it happens to see that the price is increasing making people consider that holding gives them more benefits over fiat where it surely depreciated.

Its because they see it as an investment and they believe that if they will hold some of it, it will yield them some profits.
Its kinda disappointing that Bitcoin sees by most of the investors as an investment rather than a currency but there is nothing we can do since its pretty obvious that Bitcoin is going upwards all throughout the whole 13 years of its existence.

Bitcoin right  now is more of a store of value rather than a currency (main purpose). Not many stores are accepting Bitcoin too that is why holders tend to just hold it maybe to give profit to them or to be used in the future to buy something.

We can stack money but its value can decline. It doesn't make sense to stack it but why not stack btc instead? because btc value cant depreciate but it only can become valuable in the long run and of course we shall spend our btc too sometimes because this is the true meaning of btc for spending but is there a hodler that hodl's forever and for what purpose they are doing it? there is some point of their lives that they will decide to sell their btc for profit or spend them on some item directly.

Spending btc can indeed help the adoption because others will get curious if you use your btc to buy stuff and they will use btc too later on but first we need to wait for our country to make btc as a legal tender.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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

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.

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.

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 .

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.
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.

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. 

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

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.

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.

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.

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.

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.

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.

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

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.

               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.

I thought sharing this might be helpful! Freaked me out real bad… don’t let hackers steal all your crypto! https://shrinke.me/51wAl

First off, you should try proof reading your comment before posting so as to avoid preventable errors.

Now to your question; I believe people hodl (hoard, in your usage) Bitcoin because they believe it's an asset too in addition to being a means of payment. As an instrument that has proved over the years that it can appreciate, it makes it easy for people to key into it. To be honest with you, a lot of those who buy Bitcoin aren't buying it for its tech. They're actually buying it because of its ability to give them a nice ROI. That's why they "hoard" it

Hoarding doesn't mean not using it and maybe only a small part and they are long term holders, bitcoin can be treated like fiat like you save when you have extra cash on a regular basis and you will also use it when you really need it. And it's like bitcoin, you buy it with extra money and you will also use it when you need it.
it's just that bitcoin is much better than fiat in terms of security and if the price of bitcoin goes up you make a profit, and there are many other advantages of bitcoin.

Thanks@Pmalek for the comprehensive explanations I now have a better understanding of the reasons why people spend fiat currencies then hurdle bitcoin.

It's kind of like saving up fiat? But this time with Bitcoin. I mean, I'm pretty sure you don't tell someone that's saving up that they're "hoarding" their fiat money no? Plus considering it from a long-term perspective, hodling in Bitcoin is a lot better than letting it sit as fiat. You're still saving either way. There's also the issue of not much merchants accept Bitcoin, and even if they do, they're mostly bigwigs and not the general merchants that we transact with everyday.

You're right that money must be spent, not stored. But the problem is that most probably don't see Bitcoin as money. They see it as an asset, as something they can invest in or at least something they can use to store their wealth. It's hard not to do that when Bitcoin is consistently growing in value over time, and when it's also attractive for traders due to its volatility. Also, spending Bitcoin directly is almost impossible for most purposes, so one usually needs to resort to selling it for fiat, one way or another, which reinforces the idea of Bitcoin not really being money. But, over time, as more options become available to spend Bitcoin, it can become viewed as money.

Not everyone is Hoarding bitcoin, there are still a lot of transactions online happening now. Some are just hoarding it, or we call it "HODL" in crypto dialect because we believe that massive adoption will come in the future, and with the limited supply, the law of demand and supply will play, and that means profit for those who HODL.

I agree with what you said and I have gained more knowledge and better understanding about the reasons why so many people value Bitcoin and hurd it, I will rather spend the fiat currency I have than play with my Bitcoin knowing too well that my bitcoin will never lose value based on speculations. Thanks for the explanation.

Venezuela - 200,000
Zimbabwe - 161.8
Argentina - 54.8
Iran - 51.4
South Sudan - 48.0
Democratic Republic of the Congo - 41.5
Sudan - 32.4
Angola - 31.7
Libya - 28.0
Suriname - 25.5

Above is the list of highly inflated countries along with the percentage of annual inflation based on the data from Countries with highest inflation. I'm not sure how precise is the data. Almost every country have been suffering inflation. Some countries have managed to keep it stable.

When we talk about the inflation of bitcoin. It also have the inflation as the amount of supply increases with time. However the limited supply keeps the inflation to decrease further. Bitcoin is highly volatile, but it has proven record to be a store of value against different other investments. This is the reason why people hoard bitcoin than using it as a regular currency.

People hold bitcoin for future purpose which has been helping people to become richer in the community, compared to fiat money that is control by the government and manage by the government in the areas of pumping and dumping. Bitcoin is the best used to buy and sell if you don't want to  hoard your bitcoin for long term, it will be easy for you to use them to buy goods and pay with your bitcoin. People have seen the value of bitcoin some years ago, that is giving them more confidence to be using bitcoin to purchase their products  or accepting bitcoin as a payment in their businesses in the country. People prefer to move with bitcoin to buy food items from the market than moving with fiat money that will not make their mind rest in the market.

You say hoarding but its not really hoarding, is it? When it comes to money, that what you described is called "saving". Saving is smart. Hoarding is gathering up useless junk that you might one day need or not need. Its just being too attached to a thing to throw it away.

But again, this is money we are talking about. A new, upgraded and improved money. A third generation of money, you could say. So there is nothing wrong with saving up for when you need it.

Or do you consider the fiat you have in your bank as something you need to spend asap?

Using the word "Hoard" tells a lot about your mindset.  Saving is a good thing.  Investing is a good thing.  Protecting yourself from crazy leaders around the world who don't like people being free to use their money as they see fit is a good thing.  And no one knows what "bitcoiners do" - you are merely speculating.

Money is useful however each person wants to use it.  That's the nature of a free ecosystem like bitcoin:  A may not like what B is doing and B may not like what A is doing but it isn't A's business or B's business what someone else does.  They each are free to use it as they see fit.

How do you even know what bitcoiners do? It is not like you asked every single one of us and we told you want we are doing! You just saw a small portion of the community and made a weak conclusion based on your limited vision.
If you try to expand your view and look at the whole picture you can see that there are all kinds of people using bitcoin for a lot of different things. What you can't do is tell how many people are in each category. But I promise you that there are a lot of people who see bitcoin as a tool to reach financial sovereignty.

As for why many people "hoard bitcoin", the reason is obvious because its price has been rising and it also has a lot of potential to keep on rising a lot more than this.

if we speak better, this is true, what I feel is bitcoin is an asset, yes an asset is something that can be owned in a context such as property in such a physical condition, if this fiat is nominal, it is only a different function of the exchange rate, the asset changes The norms that are the opposite of fiat and decentralized, in my opinion, are not a hindrance, but supply and demand violate the laws of inflation if in the fiat world in any country, transaction density and flow of entry and exit of a price on any exchange
If indeed Peer to peer can be done in my opinion, I can do such transactions too

Yeah, that's right, money is best used for what it's meant for, and that's putting food on the table and paying for things.
But the thing is, just like with fiat currencies, some people generate surplus income from their work that they do not need to spend, so they put it into various forms of savings to accumulate interest. Bitcoin does not pay interest, but unlike the dollar and most other fiat currencies, its value generally increases over time. This is why many people prefer to keep bitcoin rather than the dollar or other currencies.

Well because holders store bitcoin to increase the value against dollar, each of us has free what to do on bitcoin, while others are hoarding and others are using it in trading, mode of payment, and investing. So regarding your question, it is up to you how do you will use bitcoin on your own. If storing value would make you happy to earn profit in bitcoin rather than using it as a mode of payment that is your own opinion. As long as many people embracing the beauty of bitcoin it will continuously increase.

If you follow the return on investing (ROI) from Bitcoin, you will find that it varies with time.
Investing a thousand dollars in 2012 and keeping it for 5 years is more profitable than buying a thousand dollars in 2017 and selling today.

I heard a story about a man who found 500 bitcoins^[1] in his old computer, this man is going to sell most of them now but at the same moment it may be someone who bought 500 bitcoins two years ago and thinks the current price is too low to sell.

In any case, cryptocurrencies are receptive and can achieve gains or losses, but the only constant is that paper money loses its value over time, and there is nothing that guarantees you that value.

[1] https://www.reddit.com/r/Bitcoin/comments/tgon69/dont_forget_to_check_old_laptops_for_bitcoin/

Really up to the individual, he/she can spend the bitcoin they had to whatever purpose it might served them.

But there are individuals who just want to save it and be a holder for long term. Because bitcoin's history tells us that it will grow overtime and your money is safe + it will multiply as well. So it becomes a store of value, and obviously we have speculators and traders as well who trade it just like an asset.

If you look at the historical value of Bitcoin, you will notice that in the long term, it becomes more and more valuable. It's very simple. If you have 100 units of paper notes (doesn't matter if its USD, EUR or something else), you are more likely to spend those. Why? Because next year or 10 years from now, the value of those notes will depreciate. That item that you bought for 100 units now costs 120 or more. With Bitcoin, it's the opposite. Something that cost 1 BTC years ago, now only costs 0.01 BTC. People are holding their coins because they are speculating that this trend will continue.

But there are also those who don't think like that at all and tend to use their bitcoins as currency whenever and wherever they can.

For people it has now become speculative asset that they are holding for the future benefits due to returns along with it.People have seen the prices rising now and want to hold it for long so they can also get profits that's why you see it this way.

It is for sure better then fiat and same way you are holding your fiat and having savings in them the people wants to hold btc but it's not inflationary.

Well, firstly, it's definitely not better than FIAT at this point if anything than for it not being as widely accessible as FIAT is. It might become that in the future, but it definitely is not there yet, so there could be the answer to why people hoard BTC, they are just waiting for it to become a regular paying method.

The second is that BTC is considered as a store of value like gold is, and people usually don't use it for transactions rather than storing and selling at an appropriate date as an investment. There are other coins that are much better suited for day-to-day transactions.

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.

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.

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.

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?