Storing of Bitcoins is against Bitcoin.

[sportis]

That's just what I think about bitcoin. On the other side I cannot blame people that save their coins and use it only for hoarding like as precious metals. These days the price of bitcoin started a new rally to ATH and is logical people don't spend it to buy goods or services. When price will be more stable I believe people to use bitcoin more as payment and less a scarce digital asset.   

[FaucetRank.com]

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

Storing Bitcoin is not against Bitcoin instead storing Bitcoin will increase the price of Bitcoin since demand of Bitcoin will grow in the market and supply is constant forever. But yeh in long term it may heart Bitcoin.

[grimmolt22]

How is this even a topic? It is like saying "Saving Money is Against Money"...

Save Money

Spend Money

Bitcoin is a tool that we can use to get the things we need. It is also something we can invest in. We can use it to build projects, pay for necessities or luxuries, to have someone dumped in a lake, or just to stare at like a incapacitated 3 legged dog-goat.

If you want to hoard your coins... HOARD EM - HODL !!! I've been holding my stash for 2 1/2 years now... I will only use them in emergent situations. I only invested about 2500 bucks a few years ago and now I am with the other guys laughing at the 1000+ price again! XD

[deisik]

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

It is a vicious circle of sorts

You can't spend your bitcoins (apart from gambling them away) until there are enough merchants ready to accept them. But merchants won't accept bitcoins unless there is enough demand for their merchandise being paid for with bitcoins. Some people say that the merchants won't start accepting Bitcoin en masse till its price stabilizes a little, and there is certainly a grain of truth in this claim. But how the price will ever stabilize if people are using Bitcoin mainly for speculation since they basically have only two options available to them, i.e. either to hoard bitcoins or trade them? Thus we are volens-nolens back to square one

[bitllionaire]

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

Storing Bitcoin is not against Bitcoin instead storing Bitcoin will increase the price of Bitcoin since demand of Bitcoin will grow in the market and supply is constant forever. But yeh in long term it may heart Bitcoin.

but i do not think that it is against the law as there is not mention any where i the rules of bitcoin that storing of bitcoin is against the law, any one has the right to save bitcoin for what ever time he wants and there is not limit of storing bitcoins.

[GMPoison]

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

It is a vicious circle of sorts

You can't spend your bitcoins (apart from gambling them away) until there are enough merchants ready to accept them. But merchants won't accept bitcoins unless there is enough demand for their merchandise being paid for with bitcoins. Some people say that the merchants won't start accepting Bitcoin en masse till its price stabilizes a little, and there is certainly a grain of truth in this claim. But how the price will ever stabilize if people are using Bitcoin mainly for speculation since they basically have only two options available to them, i.e. either to hoard bitcoins or trade them? Thus we are volens-nolens back to square one

Well put. Storing bitcoins doesn't necessarily go against bitcoin. By buying and storing bitcoin you've done more to support it than not having bought any at all! Of course where the opportunity arises you should definitely spend your bitcoin to support the shops that do accept them, but until then storing isn't a bad thing.

[Bitcotalk]

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

It is a vicious circle of sorts

You can't spend your bitcoins (apart from gambling them away) until there are enough merchants ready to accept them. But merchants won't accept bitcoins unless there is enough demand for their merchandise being paid for with bitcoins. Some people say that the merchants won't start accepting Bitcoin en masse till its price stabilizes a little, and there is certainly a grain of truth in this claim. But how the price will ever stabilize if people are using Bitcoin mainly for speculation since they basically have only two options available to them, i.e. either to hoard bitcoins or trade them? Thus we are volens-nolens back to square one

Well put. Storing bitcoins doesn't necessarily go against bitcoin. By buying and storing bitcoin you've done more to support it than not having bought any at all! Of course where the opportunity arises you should definitely spend your bitcoin to support the shops that do accept them, but until then storing isn't a bad thing.

OP is suggesting that if no one will use bitcoin for their needs then no one will offer services on bitcoin and it will harm bitcoin. The answer to it is that people have to put their extra money in bitcoin and have to store it and if they have to spend some money for their needs then they do not have to spend their money directly but they have to convert their money to bitcoin and have to go to those stores where bitcoin is accepted. So there is no harm at all.

[mastica]

In the end people tend to save their currencie into bitcoin, but those might be not the best option, today we say what bitcoins has always inside it a huge potencial, but people plays with pump and dump even with bitcoin thats is very expensive coin. Soo save some coins is the same as savings with fiat, and its almost a sure that in the future they can be worthing well. I dont see yet the demand and supply being part of this game, since low people does use and have bitcoin, besides that we do still have the mined coins.

[GMPoison]

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

It is a vicious circle of sorts

You can't spend your bitcoins (apart from gambling them away) until there are enough merchants ready to accept them. But merchants won't accept bitcoins unless there is enough demand for their merchandise being paid for with bitcoins. Some people say that the merchants won't start accepting Bitcoin en masse till its price stabilizes a little, and there is certainly a grain of truth in this claim. But how the price will ever stabilize if people are using Bitcoin mainly for speculation since they basically have only two options available to them, i.e. either to hoard bitcoins or trade them? Thus we are volens-nolens back to square one

Well put. Storing bitcoins doesn't necessarily go against bitcoin. By buying and storing bitcoin you've done more to support it than not having bought any at all! Of course where the opportunity arises you should definitely spend your bitcoin to support the shops that do accept them, but until then storing isn't a bad thing.

OP is suggesting that if no one will use bitcoin for their needs then no one will offer services on bitcoin and it will harm bitcoin. The answer to it is that people have to put their extra money in bitcoin and have to store it and if they have to spend some money for their needs then they do not have to spend their money directly but they have to convert their money to bitcoin and have to go to those stores where bitcoin is accepted. So there is no harm at all.

I assumed that was what he meant but it was too vague for me to tell through his message. I agree with you though, support bitcoin and keep some money in it so one day if you see a place that accepts it, you can support them by using it over fiat!

[tabas]

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

Storing Bitcoin is not against Bitcoin instead storing Bitcoin will increase the price of Bitcoin since demand of Bitcoin will grow in the market and supply is constant forever. But yeh in long term it may heart Bitcoin.

but i do not think that it is against the law as there is not mention any where i the rules of bitcoin that storing of bitcoin is against the law, any one has the right to save bitcoin for what ever time he wants and there is not limit of storing bitcoins.

There is no certain law in bitcoin since countries are not even treating it as a good way to have profit or something that can be covered by any government rule. It is not that bad to store or hold bitcoins but the thing is that you are not helping the circulation of bitcoin and it is better while you have funds on storing, you also have funds in spending.

[Antesth]

Its not really against and I think its in the most cases its good for yourself to hold it these days with this insane prices.

[Orange Mango]

I think so too. The transactions of bitcoin make it stronger and let miners mine for a fee that is paid by the person making the transaction. If people hood bitcoins in the wallet then no transactions are made. This means less amount of fees for miners but they will need more hashes to get the extra fees.

[deisik]

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

It is a vicious circle of sorts

You can't spend your bitcoins (apart from gambling them away) until there are enough merchants ready to accept them. But merchants won't accept bitcoins unless there is enough demand for their merchandise being paid for with bitcoins. Some people say that the merchants won't start accepting Bitcoin en masse till its price stabilizes a little, and there is certainly a grain of truth in this claim. But how the price will ever stabilize if people are using Bitcoin mainly for speculation since they basically have only two options available to them, i.e. either to hoard bitcoins or trade them? Thus we are volens-nolens back to square one

Well put. Storing bitcoins doesn't necessarily go against bitcoin. By buying and storing bitcoin you've done more to support it than not having bought any at all! Of course where the opportunity arises you should definitely spend your bitcoin to support the shops that do accept them, but until then storing isn't a bad thing.

Indeed, it is not against bitcoin!

And how can it possibly be if Bitcoin price is rising thanks to people not selling their coins? As to me, this is one of the most simple metric which can be used to gauge Bitcoin performance over time. Having said that, though, the price itself can be utterly misleading. For example, if an individual or a small group of people buy a few satoshi for a price of 1 satoshi per 1 dollar, does it mean that the price equals 1M dollars per bitcoin? I guess it doesn't. On the other hand, with higher price comes higher volatility (even in relative terms), which we all witnessed just yesterday and well into today. I don't think that merchants would be happy with such huge price swings

[VeneVici]

Its not really against and I think its in the most cases its good for yourself to hold it these days with this insane prices.

If we knew where the price increase stops, it'd be awesome.. Most of us are waiting way too much for the price to go up and we want to withdraw when it's already too late. I wanted to change my BTC when the price was $1180 but I had some problems with accessing my Wallet.. now it's too late

[deisik]

Its not really against and I think its in the most cases its good for yourself to hold it these days with this insane prices.

If we knew where the price increase stops, it'd be awesome.. Most of us are waiting way too much for the price to go up and we want to withdraw when it's already too late. I wanted to change my BTC when the price was $1180 but I had some problems with accessing my Wallet.. now it's too late

What wallet are you using specifically?

Just holding and waiting for a certain price to sell at is not a very good idea overall as you now seem to have learned yourself. If you are sitting on a pile of bitcoins, it would make sense to keep some of them (a small part, of course) in a web wallet (personally, I prefer Coinbase) and still smaller part directly in your account at an established exchange that trades bitcoins for fiat (e.g. BitStamp or BTC-e). In this way, you can always take advantage of price movements and not lose a lot if an exchange or web wallet gets hacked (if this is your main concern)

[ethereumhunter]

Its not really against and I think its in the most cases its good for yourself to hold it these days with this insane prices.

but how if the country is make regulation that for people which is using bitcoin will be go to jail? because i already read about this but i am not sure what the site is. but i think, when we are storing our bitcoin into our wallet is not against bitcoin unless there are any regulation or prohibition in the country to not to use bitcoin like i said.

[Senor.Bla]

Its not really against and I think its in the most cases its good for yourself to hold it these days with this insane prices.

but how if the country is make regulation that for people which is using bitcoin will be go to jail? because i already read about this but i am not sure what the site is. but i think, when we are storing our bitcoin into our wallet is not against bitcoin unless there are any regulation or prohibition in the country to not to use bitcoin like i said.

You are mixing up two things. Storing has nothing to do with laws in some country. I do not know if there are nations where you can be send to prison for possession of Bitcoin. It is possible, hard but possible, to find out if a person is holding Bitcoin, but i guess in those countries they do have different opinions on what is a prove. But this is another discussion.

[sabbirshm]

Its not really against and I think its in the most cases its good for yourself to hold it these days with this insane prices.

but how if the country is make regulation that for people which is using bitcoin will be go to jail? because i already read about this but i am not sure what the site is. but i think, when we are storing our bitcoin into our wallet is not against bitcoin unless there are any regulation or prohibition in the country to not to use bitcoin like i said.

You are mixing up two things. Storing has nothing to do with laws in some country. I do not know if there are nations where you can be send to prison for possession of Bitcoin. It is possible, hard but possible, to find out if a person is holding Bitcoin, but i guess in those countries they do have different opinions on what is a prove. But this is another discussion.

I don't know why a government will take me to jail if i store bitcoin.Storing bitcoin is not any illegal activities.Its help you to make more bitcoin safely.But its cause bad effect on bitcoins price.When the holders sell their bitcoin on high price,bitcoins price goes down soon.But i don't know why a bitcoin holder will go to jail for holding bitcoin.And if any government make any rules like that we can use VPN to access on bitcoin,then nobody can trace you.   

[deisik]

Its not really against and I think its in the most cases its good for yourself to hold it these days with this insane prices.

but how if the country is make regulation that for people which is using bitcoin will be go to jail? because i already read about this but i am not sure what the site is. but i think, when we are storing our bitcoin into our wallet is not against bitcoin unless there are any regulation or prohibition in the country to not to use bitcoin like i said.

You are mixing up two things. Storing has nothing to do with laws in some country. I do not know if there are nations where you can be send to prison for possession of Bitcoin. It is possible, hard but possible, to find out if a person is holding Bitcoin, but i guess in those countries they do have different opinions on what is a prove. But this is another discussion.

I don't know why a government will take me to jail if i store bitcoin. Storing bitcoin is not any illegal activities.Its help you to make more bitcoin safely.But its cause bad effect on bitcoins price.When the holders sell their bitcoin on high price,bitcoins price goes down soon.But i don't know why a bitcoin holder will go to jail for holding bitcoin.And if any government make any rules like that we can use VPN to access on bitcoin,then nobody can trace you.   

I guess your mileage may vary, so to speak

Although I don't think that just holding Bitcoin will get you right in prison, but, on the other hand, I don't see any real obstacles (obviously, beside catching you red-handed) in passing a bill by some rogue government that would make simple possession of bitcoins illegal, possibly inflicting criminal prosecution. In many countries you can't even hold powerful pain-killers (which are essentially narcotics) unless you have a prescription. Guns also seem to belong to this category of items prohibited from possession without direct permission or license

[Senor.Bla]

Its not really against and I think its in the most cases its good for yourself to hold it these days with this insane prices.

but how if the country is make regulation that for people which is using bitcoin will be go to jail? because i already read about this but i am not sure what the site is. but i think, when we are storing our bitcoin into our wallet is not against bitcoin unless there are any regulation or prohibition in the country to not to use bitcoin like i said.

You are mixing up two things. Storing has nothing to do with laws in some country. I do not know if there are nations where you can be send to prison for possession of Bitcoin. It is possible, hard but possible, to find out if a person is holding Bitcoin, but i guess in those countries they do have different opinions on what is a prove. But this is another discussion.

I don't know why a government will take me to jail if i store bitcoin. Storing bitcoin is not any illegal activities.Its help you to make more bitcoin safely.But its cause bad effect on bitcoins price.When the holders sell their bitcoin on high price,bitcoins price goes down soon.But i don't know why a bitcoin holder will go to jail for holding bitcoin.And if any government make any rules like that we can use VPN to access on bitcoin,then nobody can trace you.   

I guess your mileage may vary, so to speak

Although I don't think that just holding Bitcoin will get you right in prison, but, on the other hand, I don't see any real obstacles (obviously, beside catching you red-handed) in passing a bill by some rogue government that would make simple possession of bitcoins illegal, possibly inflicting criminal prosecution. In many countries you can't even hold powerful pain-killers (which are essentially narcotics) unless you have a prescription. Guns also seem to belong to this category of items prohibited from possession without direct permission or license

Like i said, i do not know if there is a country or whatever that forbids Bitcoin by law directly (you are not allowed to hold Bitcoin) or indirectly (you are only allowed to use the national currency and nothing else). In a country where they are against Bitcoin and want you in prison they will "find" the necessary evidence even if you are innocent. So i would not count on VPN or whatever.