Is hoarding bitcoins good or bad for it's growth?

[btccashacc]

3. Rather than hoarding, an environment where bitcoins are more used as a mode of payment for buying goods or services is more beneficial for it's growth.

Hoarding bitcoin i think is a good choice for bitcoin's growth, it will leads to less bitcoin in the sirculation and the price will be increased. Actually this is not creator wants, bitcoin supposed to be a currency which means that we should spend them, sorry to say but seems like people are tired to pay higher fee and waiting confirmation.

2. If the elites gets hold of majority of bitcoins, the demand and price would be high, but since the common man would not be able to afford it, demand decreases, elites dump, price crashes, common man buys some, market stabilizes a bit, and elites buys back more. It kind of becomes a centralized holding affair.

Exactly this is why i'm afraid of when rich people come to the bitcoin and purchase lot of bitcoins well they such a have control over the price yeah i agree with you that it's not being decentralized anymore, price would be down once they sell all of their coins.

[pecson134]

When it comes to bitcoins it is idea better idea if you can hoard them because it will make the value increase and gain profit as time passes by. Hoarding is not good if it detrimental to life such as hoarding basic necessities like foods and water. So my answer is good for bitcoin growth.

[JRoa]

I believe it would be good for the price, since there are less Bitcoin being sold in the market. The bad news are, if you don't use your Bitcoin to buy stuff, why would merchants accept Bitcoin as a method of payment if no one wants to spend their Bitcoins? This way, Bitcoin would work more like a digital gold rather than a currency.

Also, your poll doesn't make any sense.

Is hoarding bitcoins good or bad for it's growth?
Yes / No

I believe the options should be "good" or "bad" right?

Hoarding bitcoins can have some bad effects in someways but spending bitcoins can help you alot in your daily life and your family.

[DoublerHunter]

Hoarding bitcoins can be a good for the people who got a lot of bitcoins in their wallet because of the hoarding process then they are forcing to have a small supply in the market and if the demand will go higher then the price will easily climb also but it is bad for the people who are just getting started to invest in bitcoin because they can't buy enough bitcoin at a fair price because of the force of hoarding.

[Zemangat]

In my opinion holding bitcoin iti good for you .. you better meni.bun bitcoin until bitcoin price is expensive and make you get maximum result. Maybe your capital will come back and get a big profit .. you just need to be patient and wait until bitcoin prices go up. Do not hesitate to store your bitcoin .. i am sure bitcoin prices will continue to rise .. because the demand is very much

[Ya-ing]

Hoarding reduces the number of transactions, increases scarcity and demand, makes its price raise, which in turn attracts more users. Does not seem too bad to make it a good investment. Not sure if it's better for it as a coin, though.

[ethereumhunter]

in my opinion, hoarding bitcoin is good for myself because i can save a lot of amount of bitcoin no matter the price is down or up. i am only save it for my future and i am waiting the right time to sell my bitcoin, as long as i can save more, then i am no problem to waiting more longer. i think if we hoarding, in future when bitcoin is accepting by all country and all people is using bitcoin, then we have much of amount of bitcoin and i am sure that the price will be expensive too.

[blue_dragon]

Now there are many hodlers among us Is the practice of holding bitcoins good or bad for it's growth?

I had recently come across a statement that bitcoin is a settlement system rather than store of value/digital gold and holding bitcoins is somewhat making it accessible to rich people only.

Arguments in favor of hoarding bitcoins:

1. Since bitcoins are limited in numbers, holding would obviously increase the demand and thus the price.

2. Bitcoin as a commodity/hoarding, as a currency/spending. So once the price increases, what we earlier bought for 1 BTC can buy it now for 0.5.

3. Merchants would prefer BTC over USD. (In the hopes that prices would increase)

4. Bitcoin is divisible. Everyone cannot own 5 or 10 BTC, but still holding on to a few satoshis would be profitable in the long-term.

Now there are some arguments against holding:

1. Deflation.

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

The ‘deflationary spiral’ is a real condition that affects the popular fractional reserve backing system. Bitcoin is not affected by this because it is fundamentally different from popular currency.

2. If the elites gets hold of majority of bitcoins, the demand and price would be high, but since the common man would not be able to afford it, demand decreases, elites dump, price crashes, common man buys some, market stabilizes a bit, and elites buys back more. It kind of becomes a centralized holding affair.

3. Rather than hoarding, an environment where bitcoins are more used as a mode of payment for buying goods or services is more beneficial for it's growth.

So what do you think, is hoarding bitcoins good or bad for it's growth?

Edited the poll.

You have a good point. Holding or keeping your bitcoin have a good factor to yourself. But Supply and demand is not the biggest factor why bitcoin is increasing or decreasing its value.

[aTriz]

Now there are many hodlers among us Is the practice of holding bitcoins good or bad for it's growth?

I had recently come across a statement that bitcoin is a settlement system rather than store of value/digital gold and holding bitcoins is somewhat making it accessible to rich people only.

Arguments in favor of hoarding bitcoins:

1. Since bitcoins are limited in numbers, holding would obviously increase the demand and thus the price.

2. Bitcoin as a commodity/hoarding, as a currency/spending. So once the price increases, what we earlier bought for 1 BTC can buy it now for 0.5.

3. Merchants would prefer BTC over USD. (In the hopes that prices would increase)

4. Bitcoin is divisible. Everyone cannot own 5 or 10 BTC, but still holding on to a few satoshis would be profitable in the long-term.

Now there are some arguments against holding:

1. Deflation.

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

The ‘deflationary spiral’ is a real condition that affects the popular fractional reserve backing system. Bitcoin is not affected by this because it is fundamentally different from popular currency.

2. If the elites gets hold of majority of bitcoins, the demand and price would be high, but since the common man would not be able to afford it, demand decreases, elites dump, price crashes, common man buys some, market stabilizes a bit, and elites buys back more. It kind of becomes a centralized holding affair.

3. Rather than hoarding, an environment where bitcoins are more used as a mode of payment for buying goods or services is more beneficial for it's growth.

So what do you think, is hoarding bitcoins good or bad for it's growth?

Edited the poll.

In my opinion, I think that HODLing is good and bad for Bitcoin due to a couple of reasons

Good
Holding reduces how many transactions are being made and therefore it rises the price. With a high Bitcoin price people get attracted and bitcoin becomes even more popular

Bad
How will people ever think that Bitcoin is more than an investment if people just keep holding. There is no way for Bitcoin to grow and become a currency for the future if we keep just holding Bitcoin.

[xypos]

IMO, it doesn't really matter.

People hoard gold, but it is still considered to be one of the best stable assets available out there.

It's good to have some economic activity happening, but we really don't need a lot of it right now. A little bit is fine.

People are hoarding now because they see the potential of bitcoin. Right now not a lot of merchants even accept bitcoin. When bitcoin gets more recognition in the future, naturally people will start using bitcoin as a legitimate currency instead of a speculative tool. It's nothing to worry about, really.

[karabasss]

Holding bitcoin leads to an increase in profits due to the price increase, but if everyone keeps it, the price will not grow and this will not affect its development positively. There must be a turnover between sales and holding.

[cakra]

The Bitcoin market is competitive, meaning bitcoin prices will rise or fall depending on demand and supply. I'm sure the bitcoin price will continue to increase, even if we keep it or not. In my opinion, better bitcoin is used for trading, rather than saved it.

[Kevondo]

Hoarding bitcoins can be a good for the people who got a lot of bitcoins in their wallet because of the hoarding process then they are forcing to have a small supply in the market and if the demand will go higher then the price will easily climb also but it is bad for the people who are just getting started to invest in bitcoin because they can't buy enough bitcoin at a fair price because of the force of hoarding.

hording can reduce the uncertainty if the bitcoin it can make you be secure and it can increase the demand and the price of the bitcoin and it will help you earn more money because the demand of the bitcoin will increase the price of the bitcoin and they will not be worry about the investment of the bitcoin so the hoarding of the bitcoin is not so bad yet according to me. 

[Ilegendph]

Since the question is "Is hoarding good or bad for it's growth" I should say that it is bad for the growth of bitcoin.There are several reasons why and here are some of them:

1. If the price of this currency is too high why would a normal person use it for instead of his country's currency?
2. If it is limited only and there is alternative which is faster in terms of transaction. People would switch to this alternatives.
3. A good currency must circulate throughout for healthier economy and it is proven by the first class countries.

In general it is true that bitcoin is a good investment but hoarding it has negative effect on its growth and it would not be profitable in the long run.

[Dudeperfect]

I beg to differ with the result of this poll. There is nothing wrong with hoarding Bitcoin as we are still in the development mode and there is huge scope for the growth in the coming years.

However, I believe that we should more focus on the utility part of it rather than speculation part because spending would create awareness about it and movement would boost the growth of it. However, I agree that we don't have that kind of infrastructure to spend Bitcoins offline and even online in most of the countries so technically there is no practical option rather than holding Bitcoins.

Usually, I try to spend my 50% of the acquisitions and save rest of the part but unfortunately as mentioned earlier, there is no such environment to spend Bitcoins directly thus I have to hold or invest my Bitcoins.

[Seansky]

Now there are many hodlers among us Is the practice of holding bitcoins good or bad for it's growth?

I had recently come across a statement that bitcoin is a settlement system rather than store of value/digital gold and holding bitcoins is somewhat making it accessible to rich people only.

Arguments in favor of hoarding bitcoins:

1. Since bitcoins are limited in numbers, holding would obviously increase the demand and thus the price.

2. Bitcoin as a commodity/hoarding, as a currency/spending. So once the price increases, what we earlier bought for 1 BTC can buy it now for 0.5.

3. Merchants would prefer BTC over USD. (In the hopes that prices would increase)

4. Bitcoin is divisible. Everyone cannot own 5 or 10 BTC, but still holding on to a few satoshis would be profitable in the long-term.

Now there are some arguments against holding:

1. Deflation.

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

The ‘deflationary spiral’ is a real condition that affects the popular fractional reserve backing system. Bitcoin is not affected by this because it is fundamentally different from popular currency.

2. If the elites gets hold of majority of bitcoins, the demand and price would be high, but since the common man would not be able to afford it, demand decreases, elites dump, price crashes, common man buys some, market stabilizes a bit, and elites buys back more. It kind of becomes a centralized holding affair.

3. Rather than hoarding, an environment where bitcoins are more used as a mode of payment for buying goods or services is more beneficial for it's growth.

So what do you think, is hoarding bitcoins good or bad for it's growth?

Edited the poll.

All I can say is that hoarding bitcoin is not bad for it now but maybe in the future it would be bad. You are right about the advantages of hoarding, but the listed disadvantages is still not happening right now. Also even if elites got hold now of majority of bitcoins in the end they sell, then other people buys then that's when they lose control over it sometimes since the ones who bought from them might prefer to hold the bitcoin they bought.

[add1ct3dd]

Hoarding many bitcoin's are a good way because no one can disturbed it's growing price's and bill gates said that bitcoin is unstopable. So we better hurry up and hoard many bitcoin's after it blown and go to mooooon

[Pursuer]

it is not a simple black or white situation and nothing else. it depends on a lot of things in my opinion.

for starters when people accumulate/hoard bitcoin that means they keep buying it and holding it because they have a big target in mind and when we get there what they sell won't matter much in the price because market is too big by then. this is good for the price.

but also at the same time if everyone starts only holding bitcoin and never spend it then we can't really expect it to grow either. we can't expect adoption, merchants accepting it,... because there is nobody to spend bitcoin! and that is bad for both price and future of bitcoin.

bitcoin is a currency but since the value of it grows because of adoption, it is treated as an investment and that aspect has become more important than the currency aspect for some people.

[Carlsen]

I don't think that hoarding bitcoins is bad for bitcoin.
It's against the original idea of bitcoin that ment it to be a payment method.
But ideas sometimes change when they are confronted with reality.
People hoarding bitcoins increased the worth of bitcoin. News spread out even to mainstream media.
And that attracted more and more new people into bitcoin.
This is a very positive effect I think.

[seattletu]

In the end all hoarders HAVE to "unhoard", i.e. offer. You can't live on bitcoins. On the off chance that you put every one of your belonging, reserve funds and income in BTC, each day of the year, you would even now need to exchange some of those BTC for sustenance and asylum - else you'd be dead.

So even the most insatiable hoarders should trade BTC for physical wares and services. The economy won't experience the ill effects of an "hoarding to death" situation - there will dependably be exchange!