[2017-11-21]Most Young Americans Will Hodl their Bitcoin Until it Reach $190,000

[tyz]

Survey: Most Young Americans Will Hodl their Bitcoin Until it Reaches $190,000

A new survey from LendEDU shows that bitcoin enthusiasts will be ‘hodling’ their coins with respondents willing to sell them when they hit over $190,000 each.

https://www.cryptocoinsnews.com/young-americans-will-hodl-bitcoin-reaches-190000-survey/

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[Iranus]

This is an extremely bad sign because:

-It shows a lack of self-awareness and misunderstanding of their emotions.  Even though they say this, a large number of people panic sell whenever the price goes down. 

-It ignores the fact that BTC has multiplied in value many times before and cannot continue doing so exponentially forever.  A person who buys in at $190,000 would not be able to say "I'll sell when the price reaches tens of millions" (unless the dollar experiences hyperinflation) because that amount of money does not exist.

-It ignores the possibility of it being used as a currency.  Most of the respondents (in this poll's case over 90%) were not even interested in using it as a currency, and they still consider the prospect of selling it for fiat currency when they want to actually spend them.

[Ultrasound]

This is an extremely bad sign because:

-It shows a lack of self-awareness and misunderstanding of their emotions.  Even though they say this, a large number of people panic sell whenever the price goes down. 

-It ignores the fact that BTC has multiplied in value many times before and cannot continue doing so exponentially forever.  A person who buys in at $190,000 would not be able to say "I'll sell when the price reaches tens of millions" (unless the dollar experiences hyperinflation) because that amount of money does not exist.

-It ignores the possibility of it being used as a currency.  Most of the respondents (in this poll's case over 90%) were not even interested in using it as a currency, and they still consider the prospect of selling it for fiat currency when they want to actually spend them.

That is right. That is the reason I have spent some bitcoin in the past.

[richardsNY]

People say one thing today, and then do something completely different the next day. Most people aren't capable of holding their coins for longer periods of time due to the hostile market circumstances, which is why these kind of articles hold no value. There are so many factors that people can't see play an important role right now, but will definitely do so at a later point. Not being able to understand that shows how short sighted people are -- they get blinded by their own greed. It may also be the result of them not having taken Bitcoin seriously back in the days, which resulted in them missing the train, and thus will keep holding no matter what in current time and day.

[Benezim]

People always claim they can hold their coins until they reach moon prices. I wanna see their weak hands once their coins go through the roof. Holding is much more difficult than most people think. You want to be informed about what is going on in crypto, even if you have your coins in cold storage. Realizing every day how much gains you have on the book value of your portfolio can create large pressure to realize (at least some) gains

[entrepmind23]

Many people are talking about holding bitcoin until that amount is reach but many are just saying that until such time when bitcoin reach a certain amount lower than the target amount they plan to reach and then sold their bitcoin. Bitcoin is supposed to be a currency but due to the high fees, it is hard to use it as a currency like buying small value items thus many just chose to make it as a store of value rather than money for every day usage. The statement of holding bitcoin until such time are just their opinion for now but there may be some circumstances that would let them change their mind and due to the bitcoin's price volatility, when the bear market comes back again, some of them may even consider in selling it.

[Kingofbitcoin12345]

The reality that most Americans are highly financially stable and has more extra money/space for long term investments.. That’s a good thing for the market price and also it’s more practical as the profits is increasing for almost everyday.. If I do have the same privilege than most young Americans has,, I will surely do the same for a much bigger capital.. In the present time,, for me having a reasonable bitcoin on hold is enough..

[iamTom123]

Survey: Most Young Americans Will Hodl their Bitcoin Until it Reaches $190,000

A new survey from LendEDU shows that bitcoin enthusiasts will be ‘hodling’ their coins with respondents willing to sell them when they hit over $190,000 each. https://www.cryptocoinsnews.com/young-americans-will-hodl-bitcoin-reaches-190000-survey/

This is showing us that Bitcoin is now the most famous investment vehicle for speculation. We are getting to be a country of speculators with the help of Bitcoin. I know that this can mean more volatility and Bitcoin not getting so much progress as a currency. People are more interested with Bitcoin as a store of value compared to that of a currency that can be utilized everyday. Well, we can't blame these people (all of us included) since it is quite attractive to be 'hodling' Bitcoin these days than using them for buying anything online or offline. The question is: Is it better that we have people 'hodling' Bitcoin or them not getting involved at all?

[marckenigsberg]

HODLing is great, spending is important too as stated above.
Use bitcoin for plane tickets, electronics and online purchase where possible instead of taking out cc.
At least that's my opinion.
Also just to remind 564 people in this survey and the $193k was an average. So...

[Oo ako to]

That could happen on 2019 or 2020 and after that expect a massive dump on bitcoin but for me, I honestly believe that even $100k is enough for some holders to sell it so I doubt that they can even reach that said price. I'm not saying it won't but it will be very less likely to happen because of its expensiveness and the growth will be very slow.

[Trish464]

This is something to think about and watch out for!

[Hester871]

I doubt if Bitcoin will reach that high.

[Kaye776]

I doubt it if everyone can hold on to their Bitcoin if it reaches even as much as $100K.

[steadyrice]

I think a lot of people will start cashing out if we reach 6 digits. It's hard to not just cash out and enjoy your returns once the price goes that high.

[rjbtc2017]

Young Americans, I'm glad teens are now giving attention to Bitcoin, they can be a big medium to popularize Bitcoin and also spread the word of Bitcoin on their parents and on their friends which makes an opportunity for Bitcoin's Community to be bigger and better.

On the other hand, I'm not here to judge but honestly I want to know if they know the technology behind Bitcoin, are they just Bitcoin enthusiasts because they see Bitcoin as a source of income or as a long term investment with a great ROI?. They should study the roots of Bitcoin , This is dangerous if they keep seeing Bitcoin as an Investment only, They might get attached to it to the point that i am thinking if there is a Bitcoin dip they might become feel the regret and become emotionally unstable.

[Appuned]

HODLing is great, spending is important too as stated above.
Use bitcoin for plane tickets, electronics and online purchase where possible instead of taking out cc.
At least that's my opinion.
Also just to remind 564 people in this survey and the $193k was an average. So...

Holding is not the best way. I think it is better to spend some and make the bitcoin useful. The price will rise more.