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Author Topic: The best way to Hoard coins  (Read 4715 times)
BlackHeartFund
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November 01, 2012, 07:13:40 PM
 #41

I wouldn't say I'm hoarding BTC, I am accumulating them. I spend them as much as possible, I loan them, I want the money flowing and the industry growing... but there is no doubt that I am always going to hold on to enough BTC to benefit when the price skyrockets. I won't sell everything I have even at $1000 USD/BTC. Value is going to continue to rise as long as I'm alive. Every time it triples or quadruples I will unload some... I don't care if it's in 2013 or 2020... until then you can call me a hoarder if you want.

No matter how high the price goes, there will always be a cold wallet in a security deposit box or under the floorboards somewhere with some of my Bitcoins.   Wink
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randymarsh730
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November 02, 2012, 07:13:06 AM
 #42

People are going to hoard no matter. Its part of the game
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November 05, 2012, 05:50:35 PM
 #43

One day, when a super-quantum computer cracks the encryption to all of the bitcoin addresses in 5 minutes,

Why would you troll like that?   You're not a dumb guy.  Why would you write that?

I put it in with the feasibility of mining gold at the earth's core. It was meant to sound rediclous and humorous but alas tone didn't come through the way I wished.

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November 05, 2012, 06:11:09 PM
 #44

Hoarding bitcoins=Good for you, Bad for the Bitcoin currency, Wich is what your hoarding, So you devaluing what your trying to hoard, By hoarding it.
AKA, Bad for you in the LONG run. AKA Bad for bitcoin in the Short AND long run

Once one guy "dumps" his coin stash into the market, People will go "OH NO ITS CRASHING, I HAVE TO SELL MY STASH TOO!"

And Boom, There goes the bitcoin value. But theres a big differance between Hoarding and Saving

JackRabitt, you totally hit the nail on the head.

For those arguing the semantics of saving/hoarding, I think you are missing this point. Speculation alone will not be able to hold up the value of the currency, and spending your coins is critical to energizing this economy. As another poster who was arguing against me said, 90% of the currency is held by hoarders, and thus the hoarders prop up the value. When happens when that 90% get antsy? If 90% were circulating in the market, it would be no big deal, as you just go out and buy/sell stuff.

The economy is not as vibrant as the euro & dollar markets, but it only gets there when those that hold coins spend money. If you don't think there are things to spend money on, look here:

https://en.bitcoin.it/wiki/Trade

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November 05, 2012, 06:52:14 PM
Last edit: November 05, 2012, 07:44:52 PM by FreeMoney
 #45

Quote

Once one guy "dumps" his coin stash into the market, People will go "OH NO ITS CRASHING, I HAVE TO SELL MY STASH TOO!"

And Boom, There goes the bitcoin value. But theres a big differance between Hoarding and Saving


They won't panic dump their stash if they are good at hoarding/saving. And what is the big difference?

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November 06, 2012, 01:10:11 AM
 #46

Quote

Once one guy "dumps" his coin stash into the market, People will go "OH NO ITS CRASHING, I HAVE TO SELL MY STASH TOO!"

And Boom, There goes the bitcoin value. But theres a big differance between Hoarding and Saving


They won't panic dump their stash if they are good at hoarding/saving. And what is the big difference?


If the only value of coins is the continual upward demand from hoarding, and there is a perception that the value is dissapating, then a panic is a sure thing. Only a healthy market prevents that.

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November 06, 2012, 02:00:56 AM
 #47

Quote

Once one guy "dumps" his coin stash into the market, People will go "OH NO ITS CRASHING, I HAVE TO SELL MY STASH TOO!"

And Boom, There goes the bitcoin value. But theres a big differance between Hoarding and Saving


They won't panic dump their stash if they are good at hoarding/saving. And what is the big difference?


If the only value of coins is the continual upward demand from hoarding, and there is a perception that the value is dissapating, then a panic is a sure thing. Only a healthy market prevents that.

Strong hoarders prevent it too, or do you consider people who sell all their coins to still be hoarders somehow?

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November 07, 2012, 05:37:07 PM
 #48

spending coins on good and services is better than selling coins for fiat, period. merchant will probably sell your coins for fiat in-turn, but at least you're supporting merchants who accept BTC, thus strengthening the economy userbase. i'm all for providing merchants with business if they accept bitcoin, and the opposite if they're against bitcoin.
bitcoinbear
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November 07, 2012, 06:22:27 PM
 #49

Hoarding bitcoins=Good for you, Bad for the Bitcoin currency, Wich is what your hoarding, So you devaluing what your trying to hoard, By hoarding it.
AKA, Bad for you in the LONG run. AKA Bad for bitcoin in the Short AND long run

Once one guy "dumps" his coin stash into the market, People will go "OH NO ITS CRASHING, I HAVE TO SELL MY STASH TOO!"

And Boom, There goes the bitcoin value. But theres a big differance between Hoarding and Saving

In a mature economy, that will not happen. One guy "dumps" his holodings (maybe he wants to put a down payment on a house or for some other reason needs to use his savings), that will influence the price downward, at which point other people say "Wow, bitcoin went down, I'll grab some". So the price of bitcoins gets bid back up. When the bitcoin system has a balance of "hoarders" and "day traders", the price will remain relatively stable.

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