Thoughts on "holding" Bitcoin

[chmod755]

When you're "holding" Bitcoin it tells me you're planning to sell them at a higher price. You're just holding them for now with no purpose behind it.

Are you "holding" US Dollars too? No. You're saving some and spending some.

Bitcoin is a currency so use it like a currency. If you're already doing that you should use better terms to describe what you're doing.

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[BillyBobZorton]

When you're "holding" Bitcoin it tells me you're planning to sell them at a higher price. You're just holding them for now with no purpose behind it.

Are you "holding" US Dollars too? No. You're saving some and spending some.

Bitcoin is a currency so use it like a currency. If you're already doing that you should use better terms to describe what you're doing.

There is a big difference: We know dollars will have the same purchasing power, if not less, in 10 years.

With Bitcoin, in 10 years it may be 1, 10, or 100K times the purchasing power of a dollar.

Therefore, spending Bitcoins can never be the same as spending dollars, you have a different mindset. For me it feels like buying with Gold.

I spend some of my Bitcoins but not too often, im focused on building up a good stack for the future.

[Finchy]

When you're "holding" Bitcoin it tells me you're planning to sell them at a higher price. You're just holding them for now with no purpose behind it.

Are you "holding" US Dollars too? No. You're saving some and spending some.

Bitcoin is a currency so use it like a currency. If you're already doing that you should use better terms to describe what you're doing.

That's not necessarily true. I don't doubt that many if not most holders are doing so just to cash them out once they get to x amount but for me personally I would prefer to hold them until they're worth more but only to then actually use / spend them on things I want and get more bang for my buck. I'd rather use bitcoin as a currency and as it was intended to be used but I also see the potential in bitcoin and don't think it has achieved its true value yet so that's why I hold.

[Finchy]

I would prefer to hold them until they're worth more but only to then actually use / spend them on things I want and get more bang for my buck.

Everybody wants more for their money, but saying "I'm holding BTC" makes it sound like you're just here to cash out in USD. You own BTC.

I think the beauty of bitcoin is there's all types of people involved and people will do what they want with it. You've got the greedy capitalists who just want to get rich quick and will cash out as soon as it skyrockets, then you've giot the libertarians who believe in the political aspects of it and the possibility that it can change the world, and then you've got people in between who are a mix of both. I think the best thing to do would be like you said spend and save or when you spend btc buy it back but sadly most people wont care about that I think.

[1Referee]

Actually, I do hold US dollars. I have converted probably 50% of my Euro's into US dollars when the rate was around $1.30-$1.35 for 1 Euro. And it turned out to be a wise decesion.

Regarding holding Bitcoin, I will probably leave my cold wallet coins untouched for the comming years. You never know what will happen. My other coins do get spent on things.

[NorrisK]

A dollar will have much less purchasing power in 10 years.. Inflation causes this. Just look what you could buy a house for 50 years ago. Probably for at least 10 times as little.

I'm 'holding' bitcoin as an investment, I don't care if I use it as bitcoin un the future or convert it to fiat first. I just want my purchasing power to remain equal or become more.

[johnyj]

Holding any foreign currency is a speculative move, sometimes you gain, sometimes you lose, and holding domestic currency is a sure way to loss long term wise. Holding bitcoin short term is no different than holding a foreign currency, but long term wise the perspective is brighter

[gentlemand]

I spend and rebuy and am doing more of it as time passes. There are plenty of thoughts about where it might end up. It could be a currency or nothing but a store of value. It's far too early to decide that so the most constructive thing you can do with it is show the world it has purpose by making use of it.

[Amph]

well no one said that they are holding indefinitely, it's obvious that they intend to dump at some point, but for now , until then you can stil call that "holding"

anyway not all of them want to dump their coins when the price will be right for it, or they will not dump all of their coins...i think, this is my case at least...

[Enjorlas]

I hold Bitcoin to become rich in the future. So fuck off if you think I am evil.

[Kakmakr]

There is no reason not to do both. I hodl 50% of my coins and trade and spend the other 50%. Use Bitcoin in the same way you normally used fiat. A LOT of people use Bitcoin as a possible investment plan, not for it's currency feature. The more they hoard, the better for us, because it helps to increase the value of the coins currently in circulation. We are FREE to use Bitcoin in the way we want to use it.

[gentlemand]

well no one said that they are holding indefinitely, it's obvious that they intend to dump at some point, but for now , until then you can stil call that "holding"

There's the old meme about when you're ready to dump, you won't have to any more.

I stuck my money in with the intention of never having to take it out again. If I did have to sell them to get what I wanted then I'd take that as a sign that the whole project wasn't working out.

[Urlioman]

I am trading them, on the down side, so i only secure the dollar value in them bitcoins, and still hodl after all it went to 1k could go back to .5k as well so nobody knows when the next wave will strike

[311]

I spend and rebuy and am doing more of it as time passes.

This is the best way I think to promote adoption and ensure you have some bitcoin savings at the same time.

There are plenty of thoughts about where it might end up. It could be a currency or nothing but a store of value. It's far too early to decide that so the most constructive thing you can do with it is show the world it has purpose by making use of it.

How can it be one and not the other? Bitcoin will always be a currency as that's what it is, but you could also use it as a store of value (though obviously it hasn't been performing well as one over the past year or so).

[manselr]

There is a big difference: We know dollars will have the same purchasing power, if not less, in 10 years.

With Bitcoin, in 10 years it may be 1, 10, or 100K times the purchasing power of a dollar.

Therefore, spending Bitcoins can never be the same as spending dollars, you have a different mindset. For me it feels like buying with Gold.

I spend some of my Bitcoins but not too often, im focused on building up a good stack for the future.

If everyone is sitting on their money it's not going to 100k times the purchasing power. It's stagnating and falling apart. Some merchants stopped accepting it, because nobody used it.

Spending is the same. You can easily repurchase BTC once you have spent some if you're concerned to lose out (if you did that during the last 18 months you could've lost a lot of money)

Not really. What drives the price up is demand, in other words people converting other currencies into the Bitcoin system. Paying with BTC would in any case help to make the price more solid.
We need to move money from fiat to BTC to make the price go higher, I don't think there is any other way around this.
If people don't see a real reason to pay in BTC, i don't see why they should. I can do my groceries with fiat, why should I do them with BTC, when BTC is harder to obtain, and will go up?

Now, if I was paid in BTC, if my salary was in BTC, then I would totally do most of my groceries and daily expenses with BTC too. This is actually the main problem. People aren't getting paid in BTC.

[LiteCoinGuy]

spending btc, saving btc - i can do both  

i guess in 10 years your dont have to sell coins - you just buy all stuff with it.

[Xialla]

i guess in 10 years your dont have to sell coins - you just buy all stuff with it.

ahh, those optimistic ideas just remind me the cool meme. (one of the best one related to BTC)

[Finchy]

Not really. What drives the price up is demand, in other words people converting other currencies into the Bitcoin system. Paying with BTC would in any case help to make the price more solid.

Real demand only exists when people are using BTC for payments. When there's stagnation nobody buys BTC.

Otherwise we're just creating a bubble (like most altcoins do)

Holders play their part too because they're taking coins out of the system thus creating more demand. If everyone held their coins then the price of bitcoin would rise dramatically but I think what's best for bitcoin is a mix of both people saving their money and spending it.

spending btc, saving btc - i can do both  

i guess in 10 years your dont have to sell coins - you just buy all stuff with it.

That's the dream. I'd like to buy a house or go traveling with my coins. I really don't want to cash them out for filthy fiat but just spend them on things I want or need.

[Ingatqhvq]

When you're "holding" Bitcoin it tells me you're planning to sell them at a higher price. You're just holding them for now with no purpose behind it.

Are you "holding" US Dollars too? No. You're saving some and spending some.

Bitcoin is a currency so use it like a currency. If you're already doing that you should use better terms to describe what you're doing.

I am just holding them untill the price is reach my predict price, and then i will sell them. just this.

[n2004al]

When you're "holding" Bitcoin it tells me you're planning to sell them at a higher price. You're just holding them for now with no purpose behind it.

Are you "holding" US Dollars too? No. You're saving some and spending some.

Bitcoin is a currency so use it like a currency. If you're already doing that you should use better terms to describe what you're doing.

First of all I have bitcoin and plan to only hold those with the purpose to earn from those. I will know (theoretically) that one day the price of bitcoin will (can) go high. I don't know the time in which this will happen but I know (hope) that will happen. That day i will have my profits. Maybe it will be a very remote day but I will wait. I have accepted this "waiting" the day I bought my bitcoin. And to be sincere I can have profit even if I sell those today. Because I bought those about three years ago when the price was about 100 us dollar. Then I don't want to spend my bitcoin because I have bought those exactly for this reason: to wait the high price. The price wanted by me to sell is yet not arrived.