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Author Topic: HODL mentality destroys the currency aspect of Bitcoin  (Read 750 times)
ElevenX
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July 09, 2018, 10:02:19 PM
 #201

The original idea of Bitcoin, the vision of Satoshi was awesome. How cool would it have been to be able to store your wealth on a USB stick for example. But the wrong people have gotten into Bitcoin, and all they do is manipulate people into holding, or selling.
Manipulation is getting strong and some whales take that opportunity to gain more when the others are losing.  Anyway,  that is investment and trading works and not all the time that we are wining. I'm pretty sure bitcoin won't grow if everyone are on holding, it works and moves only when there is transaction happen.

Yes, that is how investment and trading works, and I doubt that this was the original idea of Satoshi. It's not used as a currency, too many people hold. Don't even want to buy pizza with it any more.
I think I have to wait for a lot of requests so the price goes up, so too many will sell it, so btc can spread, and ultimately reduce the monopoly on bitcoin by whales

Since Bitcoin is finite, whale will never sell enough not to have control. They will always have that advantage.
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mimienamphine
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July 09, 2018, 11:04:11 PM
 #202

I think the low and high markets price is as a result of sometimes holders selling for fiat money to spend on daily products.Because there are not many places to spend cryptocurrency directly without converting into fiat money.So if ten people are holding 1btc each and one day they decide to sell and buy car,pay rent,pay hospital bills etc.This means that 10btc will be up for sale in the market that day.This has to the potential to bring the price of btc down on that day if ten new investors do not come into the market to look for 10btc to buy.This means that they will be bought cheap buy maybe existing investors who will take the opportunity. So if we want an only rise rise for btc,then we must work on making spending btc directly without converting.

Lauff
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July 10, 2018, 05:30:14 AM
 #203

a lot of influence and bad news that makes coin prices fall and is terrible and in my opinion you really seem to hold assets that can destroy other people's mental
etnichalx837
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August 11, 2018, 06:52:44 AM
 #204

a lot of influence and bad news that makes coin prices fall and is terrible and in my opinion you really seem to hold assets that can destroy other people's mental
HODL is one of the strategies in investing. Regardless of people's opinion, HODL includes business instincts that are combined with logical calculations, so when deciding to hold a coin for how long, it's a very sensible decision. When bitcoin is still cheap / worthless, everyone thinks it's rubbish. Except for those who have sharp minds who dare to invest as much as possible to have bitcoin, now just enjoy the benefits. Business is an instinct, which gets profit whose instinct is right.
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