Why people are holding Bitcoin?

[Haladay]

Actually this is all because of the potential for greater profits, because the legal economy is very applicable in the bitcoin. If the inventory is less than the demand, then automatically the price will be higher and this is all done in the bitcoin because such laws. But it could be everything from who they want, so enjoy it what makes you want to play in the bitcoin and seek as much profit.
 

Yeah I don't think none of us are holding bitcoin due its high technology. The reason why we hold bitcoin is benefiting from this huge profit opportunity.

[Kprawn]

A lot of people can see the bigger picture. Bitcoin is still virtually unknown to many people globally. Go around a bit and ask people if they know

what Bitcoin is and see what responses you get. People in first world countries will know a bit more about it, but most people in third world

countries will have no clue. What happens when these people learn about Bitcoin and what will happen if Bitcoin can scale to handle global

adoption? There is still massive potential and growth... and the price will skyrocket when that happens. 

[Magkirap]

Because they're expecting a big rise, especially now that the bitcoin price is experiencing a hard fork. This is basically how trading works, buy low - sell high.

I certainly agree that people expecting that the price of bitcoin will rapidly increase in the future so that they hold it. In addition to that, Holding is best strategy to earn and to make good profit. However, it took time to wait. I believe that the price of bitcoin will increase day by day in the near future.

[LegendOF45]

This is a good question, many people think that bitcoin holding is the best way to get profit, I do not think, holding bitcoin are at risk because whenever prices can go down.

[deisik]

A lot of people can see the bigger picture. Bitcoin is still virtually unknown to many people globally. Go around a bit and ask people if they know what Bitcoin is and see what responses you get. People in first world countries will know a bit more about it, but most people in third world countries will have no clue. What happens when these people learn about Bitcoin and what will happen if Bitcoin can scale to handle global adoption? There is still massive potential and growth... and the price will skyrocket when that happens. 

I don't think anything important is going to happen

Most people are living paycheck-to-paycheck anyway, even in the so-called "first world" countries. In fact, in these countries specifically more people may actually live on credit, i.e. their future income goes to extinguish their previous debts, so they are sort of eternally locked in a debt cycle via continual borrowing that ultimately leads to a default. Bitcoin is obviously of no help to them. It is savers, not spenders that may be interested in Bitcoin



But today's economy strongly favors the latter

[Taki]

I thought this point should be clear for everybody already. Bitcoin exist for 10 years already and it had it ups and downs towards to economical and political situations, but after every fall it raised back again. People teached the nature of bitcoin and if nowadays crypto-currency newbies are panicking because of the 1st of August coming, people who in that for a long time already stay cold to all this isteria.

[cramcram21]

What makes people compel to hold the bitcoin in this critical situation? What are they waiting for? Any good reason?

Maybe they are thinking that the price would pump up and they could make some profit,
That's the only reason that I could think of right now .

[siddu67]

people hold bitcoin for there future purpose. They hold it for profit.  If the price of bitcoin increased they can make profit by it. For that they hold it.

[emberbekas]

When people hold bitcoin, they hope that someday the price will rise several fold. But of course this requires extra patience. That's the most sensible reason in my knowledge.

[jekjekman]

What makes people compel to hold the bitcoin in this critical situation? What are they waiting for? Any good reason?

In my own opinion most of the people who are selling every now and then is the pure traders that really want to make this event for a living or they really need to sell it to get some Fiat. And the 2nd one is those people that really knows that this is just another trial that will test bitcoin and it will just surpass it again as usually bitcoin always does.

And lastly this is not 'critical situation' because if there is a true split that will happen it will just divide your coin into 2 but it will not divide your investment's value into 2 so to those people that really worried about this is just normal because it is so interesting that bitcoin will get a potential twin.

[TryNinja]

When people hold bitcoin, they hope that someday the price will rise several fold. But of course this requires extra patience. That's the most sensible reason in my knowledge.

This is obvious. But what is the problem in selling on the ATH, knowing that the price is in tendency to fall? Sell high and buy even more low.

I've done that and got 10% more BTC than I had a few weeks ago. Never stop trying to increase the size of your Bitcoin wallet.

[el kaka22]

What makes people compel to hold the bitcoin in this critical situation? What are they waiting for? Any good reason?

I do not agree that this is a critical time. Fork may be new to bitcoin system but definitely not for entire crypto community. Fork is going to take place for a positive improvements which means it might lead to new higher prices in coming days then what will be the wrong in just holding bitcoins rather than trying to trade them for short term benefits.

I guess only traders might not prefer holding bitcoins as per current situations but all long term believers must be simply holding and following situations more calmly like I am doing

[majeed]

When people hold bitcoin, they hope that someday the price will rise several fold. But of course this requires extra patience. That's the most sensible reason in my knowledge.

that is correct and the main reason why people hold their bitcoin. Bitcoin is a good source of investment and a symbol of the future. More people are learning about bitcoin and get use to using this currency. And when they do that, they have strongly affected the price of bitcoin and make it increases month by month. Bitcoin is the best place to save your money and double your money in a short term

[alex.iv]

To make more money, Bitcoin will grow and who holds a good amount can make a good cash on it.

[deisik]

And lastly this is not 'critical situation' because if there is a true split that will happen it will just divide your coin into 2 but it will not divide your investment's value into 2 so to those people that really worried about this is just normal because it is so interesting that bitcoin will get a potential twin

Personally, I wouldn't hope for that

I don't think that the chain split is a very likely event itself, but if it does really happen, that will be a real catastrophe for Bitcoin. Ethereum got split (as some mentioned it as essentially a non-event with no serious consequences), but no one had been giving a fuck about this coin anyway, while Bitcoin is a completely different matter. If the split should happen for real, it will be a full-fledged civil war with no winners and only losers. So it is not about the value of your investment being halved, it is more about losing this investment altogether



Unless you jump the ship before it is too late

[gingerxlady]

Because I already got addicted in trading at Paxful 
I hold several BTC's ATM and just hoping for the best 

[coolcoinz]

Personally, I wouldn't hope for that

I don't think that the chain split is a very likely event itself, but if it does really happen, that will be a real catastrophe for Bitcoin. Ethereum got split (as some mentioned it as essentially a non-event with no serious consequences), but no one had been giving a fuck about this coin anyway, while Bitcoin is a completely different matter. If the split should happen for real, it will be a full-fledged civil war with no winners and only losers. So it is not about the value of your investment being halved, it is more about losing this investment altogether

I don't agree. People did care about Ethereum, just look at some charts. It has the second market cap and volume and it used to be a decent coin with a lot of investors before the fork. Now, if we are to compare Ethereum went to the moon soon after it forked and the old chain gained value as well, so depending what you chose to do you could earn or earn a lot, but not lose on it. If Bitcoin were to behave like that we'd have segwit in 2 weeks, followed by a large pump, followed by a fork, and another pump on both chains.

[Vaculin]

To make more money, Bitcoin will grow and who holds a good amount can make a good cash on it.

You're right.I believe people hold bitcoin to prepare for their future plans.It's kinda ensuring your life to make it bright.I myself hold bitcoin so i won't have less worries if ever circumstances come in the midst of my journey,along with my family.I felt secured knowing i have earned bitcoin in this forum.

[GoodLuck2]

What makes people compel to hold the bitcoin in this critical situation? What are they waiting for? Any good reason?

people are holding bitcoin because the price of the bitcoin is increasing every day and still there is a huge chance that in future the price of bitcoin will be very high so that will let the bitcoin holders earn good amount for them and will help the bitcoin holders to secure their future so that is the reason why people are still holding bitcoin.

[deisik]

Personally, I wouldn't hope for that

I don't think that the chain split is a very likely event itself, but if it does really happen, that will be a real catastrophe for Bitcoin. Ethereum got split (as some mentioned it as essentially a non-event with no serious consequences), but no one had been giving a fuck about this coin anyway, while Bitcoin is a completely different matter. If the split should happen for real, it will be a full-fledged civil war with no winners and only losers. So it is not about the value of your investment being halved, it is more about losing this investment altogether

I don't agree. People did care about Ethereum, just look at some charts. It has the second market cap and volume and it used to be a decent coin with a lot of investors before the fork. Now, if we are to compare Ethereum went to the moon soon after it forked and the old chain gained value as well, so depending what you chose to do you could earn or earn a lot, but not lose on it. If Bitcoin were to behave like that we'd have segwit in 2 weeks, followed by a large pump, followed by a fork, and another pump on both chains.

I understand that you don't agree and why exactly you disagree

When I said about no one giving a fuck about Ethereum, it was a metaphor (or rather a hyperbola). Indeed, people who are holding these tokens do care about anything which could potentially affect their price. But, first, given that about 80% of Ethereum is premined, the number of these people cannot be great by definition (but please don't push the bullshit about the market cap of this coin). Further, the so-called Ethereum "split" was not a split in the strict sense of the word, i.e. the chains that this split produced were not even remotely comparable in their power. This may not be the case with Bitcoin, and this is what might make the difference