Hmm... is it time to crash BTC exchange rates yet?

[freedomno1]

Well miners accepted it and then it went down 10 bucks and napped here 

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[KSV]

its not hoarding, its saving . . .

[BTConomist]

its not hoarding, its saving . . .

Saving is done by consumers and merchants; Hoarding is done by miners (a.k.a. the central banks of bitcoin economy).

[trippp]

its not hoarding, its saving . . .

Saving is done by consumers and merchants; Hoarding is done by miners (a.k.a. the central banks of bitcoin economy).

A little jealous, are we?

"Hoarding" is a derogative term used by people who are pouting because they were late to the party.

[freedomno1]

its not hoarding, its saving . . .

Saving is done by consumers and merchants; Hoarding is done by miners (a.k.a. the central banks of bitcoin economy).

A little jealous, are we?

"Hoarding" is a derogative term used by people who are pouting because they were late to the party.

Lol Haha made me
Was thinking more along the lines of spenders who live beyond their means who cannot understand savers

[Rygon]

OP should consider giving a definition of hoarding. Personally, I like the investopedia definition:

Hoarding: "The purchase of large quantities of a commodity with the intent of pushing up the price"

Going by this definition, the current exchange rate, and market depths, I think it's easy to conclude that most forum members here lack the ability to hoard because they do not have the means to purchase enough BTC to make a dent in the price and start a speculative run. A million USD clearly won't do much, perhaps ten million, I don't know.

Anyhow, I agree that speculators have undoubtably caused unsustainable run ups in prices, most likely by buying large quantities. Clearly that was happening in 2011 when the entry price to cause a price run was low, and it's reasonable to conclude that part of the run to $266 was a result of something similar.

So, unless you are a Winklevii, I don't think you are hoarding. And even if you have that kind of cash, it's only a risk that you may dump it in the future and tank the price. But in the meanwhile, the increase in value benefits everyone in relation to their BTC holdings.

In order to avoid the consequences of a massive hoarder dumping onto the market and causing exchange volatility, there are really only three things other BTC holders can do.

1. Buy as much coin as possible and drive up the cost for a big fish to make large purchases.
2. Be prepared to sell some coin if prices are rising too rapidly, in order to further discourage an entity that is purchasing large enough quantities to really drive of the price and cause a risk.
3. Sell as soon as a hoarder starts unloading a large amount of coin, in order to decrease their profit from hoarding and then selling. Tough to do in practice though.

[Abdussamad]

Official definitions aside most of us ARE hoarding. We are misers like that character Silas Marner or that dude in LOTR:

[jml]

Next, the miners would get the name of The Red Shield bank... and I would be called Nathan Rothschild Mega-hoarder of the World!

[BTConomist]

Next, the miners would get the name of The Red Shield bank... and I would be called Nathan Rothschild Mega-hoarder of the World!

Not to burst your bubble or anything, but the Rothschild's built their name and fortunes by increasing the currency circulation (starting with the Napoleonic Wars), not by hoarding and trading gold (which, sure, had preceded the former). One could even say that this was the only difference between the Smeagols and the Rothschilds.

[jml]

Next, the miners would get the name of The Red Shield bank... and I would be called Nathan Rothschild Mega-hoarder of the World!

Not to burst your bubble or anything, but the Rothschild's built their name and fortunes by increasing the currency circulation (starting with the Napoleonic Wars), not by hoarding and trading gold (which, sure, had preceded the former). One could even say that this was the only difference between the Smeagols and the Rothschilds.

I am aware of the Red shield and how they got their wealth. They amassed their wealth during the Battle of Waterloo (Jacob funded the French war machine and Nathan the British war machine). They drove investors speculation cause panic in the London stock exchange, thus selling out hearing that the French won when they actually lost. When the chance came, they bought out all the London Stock shares which where worth pennies. The British people were paying their taxes which went to the Red shield private bankers hence how Nathan got more rich by controlling the output of money. That is not currency circulation as you put it, it is total and complete control of how money is produced. This is very different to how miners work who are;

1) Many in numbers
2) Distributed
3) Non organised
4) Non hierarchical

Unlike the banks are:

1) Fewer in numbers
2) Centralised
3) Organised
4) Hierarchical from a cashier to the CEO earning 650 times more than a regular person is
...and 5) Total control of the money flow with hidden taxations and thus increase inflation devaluing fiat currency by producing more debt money; i.e loans.

Miners need to pay for their equipment first by selling bitcoins to recoup losses and then "save" for future uses. Miners also DO NOT FUND WARS like Rothchild's did and make money! Also the Rothchild's family hold more wealth than the US GDP in excess of > $500 trillion. In any anti-capitalist eyes, that is hoarding!

[richard_dein]

I always had a slight lingering doubt about deflationary currencies until I thought about land.

From that, the shortest argument that came to me is this: hoarding Bitcoins is much less evil than lending real estate for rent. Since then I've been comparing what happens to land with what could happen to Bitcoin. I am more confident that Bitcoin at least doesn't take away anything from what we already have.

[KSV]

I’ll be honest, the hoarding mania has got to go if bitcoin protocol is ever to support a fully fledged BTC currency.

Hoarding actually does very good for bitcoin:
- increases price making bitcoin useful*
- the higher bitcoin price the more press is writing about bitcoin and more people are wanting to hear about it

*you cant transfer big amounts of cash using bitcoin if price is low because it causes massive price volatility at exchanges. if you would like to transfer $1.000.000 you would have to buy 1000 bitcoins and sell it three hours later while at price $1.000.000 per bitcoin you would have to buy only one btc. And imagine if more than one transaction like this would have happend at once then most people would assume its another attack on exchange or whatever.

yeap i am inclined to agree with this 1.

furthermore, i think its time we all stopped using the term hoarding, its saving.

[KSV]

Next, the miners would get the name of The Red Shield bank... and I would be called Nathan Rothschild Mega-hoarder of the World!

Not to burst your bubble or anything, but the Rothschild's built their name and fortunes by increasing the currency circulation (starting with the Napoleonic Wars), not by hoarding and trading gold (which, sure, had preceded the former). One could even say that this was the only difference between the Smeagols and the Rothschilds.

I am aware of the Red shield and how they got their wealth. They amassed their wealth during the Battle of Waterloo (Jacob funded the French war machine and Nathan the British war machine). They drove investors speculation cause panic in the London stock exchange, thus selling out hearing that the French won when they actually lost. When the chance came, they bought out all the London Stock shares which where worth pennies. The British people were paying their taxes which went to the Red shield private bankers hence how Nathan got more rich by controlling the output of money. That is not currency circulation as you put it, it is total and complete control of how money is produced. This is very different to how miners work who are;

1) Many in numbers
2) Distributed
3) Non organised
4) Non hierarchical

Unlike the banks are:

1) Fewer in numbers
2) Centralised
3) Organised
4) Hierarchical from a cashier to the CEO earning 650 times more than a regular person is
...and 5) Total control of the money flow with hidden taxations and thus increase inflation devaluing fiat currency by producing more debt money; i.e loans.

Miners need to pay for their equipment first by selling bitcoins to recoup losses and then "save" for future uses. Miners also DO NOT FUND WARS like Rothchild's did and make money! Also the Rothchild's family hold more wealth than the US GDP in excess of > $500 trillion. In any anti-capitalist eyes, that is hoarding!

this is exactly the reason bitcoins are gaining traction and will continue to do so.