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Title: Hoarders are undervalued Post by: notig on February 20, 2013, 06:05:52 PM the truth is that the "hoarders" are what gives bitcoin power. They raise the price of bitcoin itself and that allows bitcoin to enter new worlds. It allows it to do things that it couldn't before. If a bitcoin was 100 instead of 30 it could even go to further heights because it would now be a viable option for more types of transactions.
Title: Re: Hoarders are undervalued Post by: SgtSpike on February 20, 2013, 06:08:21 PM the truth is that the "hoarders" are what gives bitcoin power. They raise the price of bitcoin itself and that allows bitcoin to enter new worlds. It allows it to do things that it couldn't before. If a bitcoin was 100 instead of 30 it could even go to further heights because it would now be a viable option for more types of transactions. Good point. Raising the market cap of Bitcoin increases the number of things that it can be used for. A very valid reason to value hoarders indeed...!Title: Re: Hoarders are undervalued Post by: Stephen Gornick on February 20, 2013, 07:16:37 PM the truth is that the "hoarders" are what gives bitcoin power. They raise the price of bitcoin itself and that allows bitcoin to enter new worlds. It allows it to do things that it couldn't before. You are overlooking how exchange rate volatility is not a favorable attribute for a currency. If those hoarding continued to hold their coins regardless of current sentiment, you would have a point. Instead what historically ends up happening, more often than not, is that a rise that is unwarranted gets "corrected". The aggressive buying ends and just normal selling volume can cause the price direction to turn. Then the Is this rise unwarranted? That's the question that nobody knows the answer to. It could be. Or, perhaps Bitcoin should already have been a digital currency worth somewhere around $300 million at the end of 2012 but it wasn't and now has been brought to an appropriate level. Or not. We'll see. But merchants who sell goods and services at $29.87 today and don't convert those to some other more stable form of value may rue the day they decided to accept bitcoins (and hold those proceeds as bitcoins) should a price correction occur swiftly. Title: Re: Hoarders are undervalued Post by: FreeMoney on February 20, 2013, 09:01:26 PM "True" "Hoarders" don't sell at all.
Title: Re: Hoarders are undervalued Post by: Offthechain on February 20, 2013, 09:54:37 PM That's me... I'm in this for the long term.
True hoarders believe in Bitcoin! Title: Re: Hoarders are undervalued Post by: goldlyre on February 20, 2013, 11:08:06 PM I put them in a cold storage wallet quietly offline, and smugly observe the tide meanwhile...
Title: Re: Hoarders are undervalued Post by: Mageant on February 21, 2013, 08:24:19 AM You really need "hoarders" + liquidity. A high market cap does automatically give Bitcoin the ability to process large transactions, you also need the appropriate depth in the market.
Also, a better term would be "savers". Title: Re: Hoarders are undervalued Post by: notig on February 21, 2013, 09:20:31 AM There will always be liquidity. Mainly 2 reasons: because the price is unpredictable, because they are highly divisible.
Title: Re: Hoarders are undervalued Post by: smoothie on February 21, 2013, 09:24:56 AM "True" "Hoarders" don't sell at all. I disagree. True hoarders buy bitcoin. Store in their wallet.dat....then delete wallet.dat lol |