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Author Topic: Storing of Bitcoins is against Bitcoin.  (Read 41909 times)
morantis
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May 28, 2016, 06:57:50 AM
 #321

There is no need rule that you cant store.  Wink

Bitcoin is a Currency or Bitcoin is a Commodity?

in answer to that question, bitcoin is becoming either a "stock" or a "commodity" and may soon be an accepted full-bore currency

it is treated more like a commodity, but the price is more like that of a stock

a commodity is something like "corn" and its value is set almost strictly by the current market, it is hard to affect the price of corn without buying or selling corn or altering the overall supply.  if farmer joe is the second largest supplier of corn and the price of corn is $5 per unit and farmer joe buys a new fleet of tractors, the price of corn is still $5 per unit, if he sells his farm, the price of corn is still $5 per unit

a stock is literally a piece of another persons company, the term comes from years back when a farmer or tradesman needed help to make their business work.  say the farmer joe could not afford the seed to plant his crops this year, so you came along and bought the seed for him, in exchange you now own 15% of his next crop yield or 15% of the "stock" that would come from his harvest, or a store that needed help getting started could sell you 15% of their "stock" in exchange for the start up cost for the business.  now, the value of a stock is mostly set by the overall market cap of the business and the percentage of stock that you own.  market cap or market capital is the basic value of a business.  from the commodity example, farmer joe buying new tractors for next year might have an even effect on his market capital, he spent $500,000 and received $500,000 worth of equipment owned, in part, by the stock holders.  BUT, stock prices are also affected by what a person is willing to pay for that stock, JUST LIKE BITCOIN

if i go on the stock exchange and present 500 shares of stock for sale and the market value is $500 for them, i can literally put in a type of order that says i will sell them at $50 instead of the $500, i can quickly unload stock that way, that means that a buyer will be able to buy those stocks at well below that market value, enough trades like that and the overall market value will begin to drop, or i can put out the sale at over the market value and hope that someone buys them, if this happens enough the stock value will rise.  so, when i see that the very successful farmer joe is buying new tractors, i just might pay more for the stock because i see a banner year coming, the price starts to rise based on nothing more than my opinion of the coming year, making the stock market fickle in some ways, subject to rumors, opinion, and conjecture, JUST LIKE BITCOIN

the overall price of bitcoin is set by what the market will bear.  if i go to an exchange and buy bitcoin from someone at just more than it is currently valued it can cause the price to rise, the more btc i buy, the more power i have over the price.  so, even though it is around $475 at the time of this posting, if i can go to an exchange, put out a sale ticket at $600 and get someone to buy it up, or several people, i can bring the value up.  at the same time, if i put 1 btc on the exchange at $350 i can cause a value drop, these are, of course, directly proportional to my buying/selling power(how many bitcoins i have) and the period of time the transactions take place.  there are those that have gotten with another person and tried to spike the price by putting in a sale for twice the current value and having the other person buy it up, they do this with half of their total bitcoin wallet and hope that the price shoots up for a short period and they can then sell the remaining half at an inflated price.  the exchanges cannot be messed with that easy, it takes a lot of sales, over a period of time to alter the price, or a short period of time and VERY big volume

just remember, it all started with a small group of people trading BTC back and forth and that was pretty meaningless until the first person was willing to trade something of real value for some BTC and the first person that paid true FIAT for bitcoin, that was when a couple of thousand lines of "value-less" computer code became something that will likely change the economy of the world.  Everything is worth exactly what another person will pay for it, exchanges can list a bitcoin at $100 or $1000, it means nothing until a person pays that amount for it
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May 28, 2016, 07:30:25 AM
 #322

HODL or spend, its the coin holders choice, thats all I have to say on that matter : ) Like money. If many HODL and some spend, that can actually drive the price up. I think HODLing bitcoins is less dangrous than the dangrous fractional reserve banking system our economies operate on

Indeed its your own choice I consider holding them now as good because the fact is that with holding you can make a lot of profit in the future for sure.
Due to this fact you can better hold the bitcoin right now in my eyes.

Yeah its upon ones personal wish, whether to hold it continuously cashout. Even when users hold bitcoin its better to spend at least a small portion to increase the bitcoin circulation which is also an important factor for growth.

But for me if you want to be wise with your bitcoin better hold it all as much as you can and if you think you can hold it before the halving happens,
really you will get profit from since it is getting more popular, storing of it isn't against to it, since it is a way for its usage and strategy to
earn some profit from it.

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May 28, 2016, 10:19:11 AM
 #323

The spirit of Bitcoin is to let everyone do whatever they want with what they possess. This is thus not against Bitcoin.

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StoreBit
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May 28, 2016, 11:46:28 AM
 #324

i don't think so. we should use it as a flat currency. if we need to use it we should. we should use it for buying something mean doing shopping. on other side if we have more than our requirement then we have to store it for future use. I think we should also keep it for price up. we can see people have lot of bank accounts for their extra money.
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May 28, 2016, 11:52:15 AM
 #325

Maybe in its early stages, it is going to hinder the growth of bitcoin because storing it will limit it to a few holders. But as people become more and more aware of bitcoin, it will naturally be in circulation as the demand will increase. This currency is still facing a lot of uphill battles towards mass adoption but we see progress everyday.
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June 09, 2016, 08:12:16 AM
 #326

Maybe in its early stages, it is going to hinder the growth of bitcoin because storing it will limit it to a few holders. But as people become more and more aware of bitcoin, it will naturally be in circulation as the demand will increase. This currency is still facing a lot of uphill battles towards mass adoption but we see progress everyday.

I think for selfish reasons, it is better to store the bitcoins. But circulation will also help the price performance.
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June 09, 2016, 08:21:21 AM
 #327

Maybe in its early stages, it is going to hinder the growth of bitcoin because storing it will limit it to a few holders. But as people become more and more aware of bitcoin, it will naturally be in circulation as the demand will increase. This currency is still facing a lot of uphill battles towards mass adoption but we see progress everyday.

I think for selfish reasons, it is better to store the bitcoins. But circulation will also help the price performance.
I also agree with this, Bitcoin should be used the same way as people use regular fiat currency. Save part of your coins, but also use a small portion of them.

But to say that storing Bitcoin is against Bitcoin is a bit crazy I think.. Bitcoin is all about freedom and this saying goes completely against that.

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June 09, 2016, 12:21:10 PM
 #328

Maybe in its early stages, it is going to hinder the growth of bitcoin because storing it will limit it to a few holders. But as people become more and more aware of bitcoin, it will naturally be in circulation as the demand will increase. This currency is still facing a lot of uphill battles towards mass adoption but we see progress everyday.

I think for selfish reasons, it is better to store the bitcoins. But circulation will also help the price performance.
I also agree with this, Bitcoin should be used the same way as people use regular fiat currency. Save part of your coins, but also use a small portion of them.

But to say that storing Bitcoin is against Bitcoin is a bit crazy I think.. Bitcoin is all about freedom and this saying goes completely against that.

well it is not just about storing or not storing bitcoin, but it is about whether or not people are willing to spend bitcoin instead of fiat or are people just interested in bitcoin as an investment to hold forever and sell (dump) as it rises.
this way of thinking should change to the first one (spending) then we can grow.

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June 09, 2016, 01:25:25 PM
 #329

Maybe in its early stages, it is going to hinder the growth of bitcoin because storing it will limit it to a few holders. But as people become more and more aware of bitcoin, it will naturally be in circulation as the demand will increase. This currency is still facing a lot of uphill battles towards mass adoption but we see progress everyday.

I think for selfish reasons, it is better to store the bitcoins. But circulation will also help the price performance.
For me that is not wrong to keep your bitcoin for a long time because it will you call investment then i think also the demand of bitcoin will increase because there are more people who storing yheir bitcoin for their future.
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June 09, 2016, 02:06:46 PM
 #330

Storing of Bitcoins is against Bitcoin.
No one will offer services for Bitcoin.
Spend Your Bitcoins.


Yeah I agree with you, when many people are saving bitcoin in bulk and do not use it, probably bitcoin will become rarer Cheesy but I think saving bitcoin for sale in the future at a higher price is not illegal right. Thank you
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June 09, 2016, 02:16:02 PM
 #331

Well, interesting statement.
Of course, it will be much more easy to spread bitcoin if we use it and inspire others to use BTC to.
But, in other hand, in many countries there are not so much Bitcoin users, no so much merchants which accept BTC, no so much places where users can spend their BTC funds etc.
You can't force people to spend Bitcoin if they don't have many choices for it.
We all should have freedom to decide what we will do.


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June 09, 2016, 02:24:43 PM
 #332

Yes
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June 09, 2016, 04:07:29 PM
 #333

Storing of Bitcoins is against Bitcoin.
No one will offer services for Bitcoin.
Spend Your Bitcoins.
not really,people who spent their bitcoin not mean never against bitcoin. and peoplewho store their bitcoin also not mean against bitcoin,they ust want use bitcoin as currency and some people use bitcoin as investment,we can't lie that bitcoin price movement make us interest to make profit.
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June 09, 2016, 05:13:11 PM
 #334

Storing of Bitcoins is against Bitcoin.
No one will offer services for Bitcoin.
Spend Your Bitcoins.
not really,people who spent their bitcoin not mean never against bitcoin. and peoplewho store their bitcoin also not mean against bitcoin,they ust want use bitcoin as currency and some people use bitcoin as investment,we can't lie that bitcoin price movement make us interest to make profit.

OP may mean that storing bitcoins reduces the number of bitcoins in circulation but it's not true as more coins are being mined daily. However, we should be concerned about the coins that have been lost in wallets that can never be accessed. They can never be recovered.

However, holding coins for 3-4 years doesn't help bitcoins and is not a wise thing as well because anytime the bitcoin price may drop and one may lose what they have invested.

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June 16, 2016, 01:14:06 PM
 #335

if i am earning a lot and my expenses are not more than that. then what will i do. i will certainly store them and there is no other option with me. because i will never like to share my bitcoin with any one.
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June 26, 2016, 08:04:56 AM
 #336

if i am earning a lot and my expenses are not more than that. then what will i do. i will certainly store them and there is no other option with me. because i will never like to share my bitcoin with any one.

I also hold most of my coins. I do not trade as I cannot control the price and make profit from the trading.
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July 11, 2016, 08:14:38 AM
 #337

if i am earning a lot and my expenses are not more than that. then what will i do. i will certainly store them and there is no other option with me. because i will never like to share my bitcoin with any one.

I also hold most of my coins. I do not trade as I cannot control the price and make profit from the trading.

It is better to hold most of the coin as the price of bitcoin will rise in the future. It is also good to use it.
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July 11, 2016, 08:42:05 AM
 #338

It is also good to use it.

What for Services or Products You have payd in Bitcoins in last 6 Months?

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July 11, 2016, 08:52:09 AM
 #339

Storing of Bitcoins is against Bitcoin.
No one will offer services for Bitcoin.
Spend Your Bitcoins.

I am trying to think about the reason behind your post. I also tried to research it but I did not found a single clue. And so I am curious why did you post it or what is the message that you really wanted to portray. For me bitcoin stored or not is still bitcoins there is no wrong with it. Storing bitcoins will not be bad for bitcoins.
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July 11, 2016, 09:50:45 AM
 #340

if i am earning a lot and my expenses are not more than that. then what will i do. i will certainly store them and there is no other option with me. because i will never like to share my bitcoin with any one.

I also hold most of my coins. I do not trade as I cannot control the price and make profit from the trading.
good to hold coins right now, with the bitcoin price fluctuating it can quickly become a lucrative business for experienced traders.
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