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Author Topic: Is hodling good for Bitcoin, and how its affecting it?  (Read 205 times)
Eternu
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April 21, 2018, 04:00:05 PM
 #1

In most advice people can find that holding bitcoins is best choice, but is that really best for Bitcoin? I can't but ask my self, what would happen if we all would just hold our coins? Only answer that comes to my mind is, bubble would occur and bad things would happen.
 
I don't deny that so far holding has proven to be one of best ways of earning extra money, but bitcoin is made to be currency and not asset. So for strong and stable price we need constant flow, which mean constant transactions of buying and selling, not mostly buying and holding. So if we really wish for bitcoin to success in its goal, we must start using it more frequently (at least as much as we can). Number of holders must not be higher than number of "users".

What are you thoughts on the matter?
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April 21, 2018, 04:06:00 PM
 #2

Most of the people are not buying bitcoin because they want it to use as currency, but they are buying it expecting it's price to rise and as a result they gain some money.  Because their intention is not using as currency that is why they are holding it to gain.  
So without holding they can not gain.  And that is why they are holding it.  

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April 21, 2018, 04:23:01 PM
 #3

Most of the people are not buying bitcoin because they want it to use as currency, but they are buying it expecting it's price to rise and reluctantly they gain some money.  Because their intention is not using as currency that is why they are holding it to gain. 
So without holding they can not gain.  And that is why they are holding it. 
Yes, you are totally right Cheesy And If I do trading cryptocurrency because my passion is to increase my bitcoin, after that I will sell it once the price is high. If I need to send my asset from the exchange to the other exchange, I will not use bitcoin, I prefer to use the other cryptocurrencies or altcoins like doge and stellar lumen because the fee is cheaper than bitcoin. I still curious about the progress of transaction that happens in Japan. Can I buy some fresh drink use the bitcoin from my wallet? and then how much the fee will be charged? I hope the fee is still cheaper than the price  Grin

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April 21, 2018, 04:30:33 PM
 #4

It is based on how we see the bitcoin,if someone thinks bitcoin as an investments then holding is very good for it because it causes the price to increase,but if it as a currency it is not good it makes unusable as a currency but holding the bitcoin is good think we can make profits. Cheesy

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April 21, 2018, 04:32:32 PM
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 #5

Holding is only good for bitcoin when it comes to price, but is definitely not good in terms of adoption. If everyone hodled bitcoin, then we should stop calling it a currency. It's gonna end up being a useless asset that just has high value just because a good percentage of the coins are on park.

tldr; hodl bitcoin for future profit, but at the same time use your bitcoin as much as possible. Bitcoin is called a cryptocurrency for a reason.

So without holding they can not gain.  And that is why they are holding it. 
Easy solution. Use your bitcoin, then buy the same amount of BTC you used using fiat.

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April 21, 2018, 04:35:27 PM
 #6

It should be, but I think the bitcoin circulation to date is still good, and actually the bitcoin always moves because bitcoin is a bubble that can rise as high as it is and suddenly isa falling into a low price.

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April 21, 2018, 04:36:34 PM
 #7

I have slightly different theory regarding this one.

The holding process might turn out to be good one for the bitcoin. The reason is its limited emission and higher demand can change the way it receives its value.
If most of us hold the coin then it could happen that we may lock down more and more supply as we pass through the time. The new people or investors always keep coming and when we will be holding the coins they will buy from the left over emission. But one day will come when market will get condensed and due to heavy demand of the bitcoin (and considering nothing is in circulation) it could just increase the value of Bitcoin. Looking after that people may start attracting and might just pour more money to get their hands on it and this way market cap will increase and more value!

There you go, holding might just bless this market in completely different way.

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April 21, 2018, 04:42:56 PM
 #8

Do you really think that ALL people will hold their coins? I don't think it is possible, same way it is not possible to have ALL people not spending for one day, or shut their lights off for one hour in protest for some legit reason.

Actually, there are a LOT of traders in the crypto space. It is what they do, they trade. That is their way of living and how they make money. They will NOT hold on to their coins. They are actually a good thing because they do provide liquidity in the market.

So don't worry about that. Hold your coins if you have a good reason to do it (I do). And remember that the real millionaires in Bitcoin are the people that have hold it for a long time.

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April 21, 2018, 04:52:03 PM
 #9

You are right. Bitcoin must be used for our buys and sells and I think it will be used for such purpose sooner or later. But now not many stores accept bitcoin as a payment and the rules has not been made by governments. 
I personally like to use bitcoin when I want to sell some thing. I also like to give bitcoin as my salary. But it is not possible and the best thing I can do is hold bitcoin and also earn some money by some activities.
In my country I cannot buy anything with bitcoin and there is no other option than holding.

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April 21, 2018, 05:04:55 PM
 #10

It should be, but I think the bitcoin circulation to date is still good, and actually the bitcoin always moves because bitcoin is a bubble that can rise as high as it is and suddenly isa falling into a low price.
Hiw you know that bitcoin price will suddenly fall do you have the time machine? Bitcoin price was determined by the supply and demand if it has high demand the price will be high and holding can increase the demand and also the price.

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April 21, 2018, 05:38:09 PM
 #11

I think hodling Bitcoin is the way to go.  There are more people entering the crypto market everyday. It’s just a matter of supply and demand.  There is only a finite amount of Bitcoin and the available pool is shrinking slowly.  I believe price will continue to rise in the near future. 
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April 21, 2018, 05:49:00 PM
 #12

but is that really best for Bitcoin?
Yep holding is still the best for bitcoin.

what would happen if we all would just hold our coins?
It's hard to assume these IF's this is impossible to happen but if it all of us will hold there will be an altcoin that will dominate in terms of usage.

So if we really wish for bitcoin to success in its goal, we must start using it more frequently (at least as much as we can). Number of holders must not be higher than number of "users".

What are you thoughts on the matter?
That's right we should use it more frequently but days are changing and if we see some possibility that bitcoin can be a good store of value why would we should let that pass? I have a wallet that's good for holding and as a cold storage but I always contribute to the circulation by spending some and selling some.

There are many traders, gamblers, merchants that are using it all the time so you don't have to worry about it.

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April 21, 2018, 05:54:52 PM
 #13

I understand what you meant to say. But bitcoin is considered as a store of value mostly at the moment. we have some scalability issues with bitcoin presently which shall be solved by the introduction of lightning network perhaps.
but as I mentioned the scalability issue is there so if you want to use crypto to spend then there are other good altcoins which are going to serve this purpose and bitcoin will work as a store of value.

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April 21, 2018, 06:23:07 PM
 #14

The best for bitcoin is buying, spending and exchanging. Holding might be good for some reasons for bitcoin. You can't avoid it fiat currency lose value but bitcoin has limited supply.

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April 21, 2018, 07:03:39 PM
 #15

In most advice people can find that holding bitcoins is best choice, but is that really best for Bitcoin? I can't but ask my self, what would happen if we all would just hold our coins? Only answer that comes to my mind is, bubble would occur and bad things would happen.
 
I don't deny that so far holding has proven to be one of best ways of earning extra money, but bitcoin is made to be currency and not asset. So for strong and stable price we need constant flow, which mean constant transactions of buying and selling, not mostly buying and holding. So if we really wish for bitcoin to success in its goal, we must start using it more frequently (at least as much as we can). Number of holders must not be higher than number of "users".

What are you thoughts on the matter?

True! The flow of bitcoin is very necessary for it to flourish so it is better if we can see more numbers of users than holders. But you also must not forget that, holder are those who believe in bitcoin and believe in its potential. So we can't ignore them either.

We mainly have two different types of people in any market. One is trader and another type is investors. Traders are those who frequently execute trades to earn the difference in price and they are the one who likes to take risk. The other set of people are not risk takers and loves to hold any asset for longer time. On the other hand, investors are those who are not willing to take much risk and executes a trade only if there is a significant price difference. But both of these types are equally important for a healthy asset. We can't ignore one type for the betterment of the other.

Traders are mainly driven by the market opportunities. So if a trader sees a better opportunity is ripple today, he will switch his entire fund to Ripple from bitcoin to bank on that opportunity. If would not think twice if the opportunity is prominent. On the other hand, holders would not sell off his bitcoin assets if he spots a market opportunity. Instead he will infuse extra money into that opportunity and keep his bitcoin assets intact. Holders are the true believers. So  a balanced mix of holders and users will be good for the growth of bitcoin. But certainly we can't ignore them.

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April 21, 2018, 07:09:52 PM
 #16

In most advice people can find that holding bitcoins is best choice, but is that really best for Bitcoin? I can't but ask my self, what would happen if we all would just hold our coins? Only answer that comes to my mind is, bubble would occur and bad things would happen.
 
I don't deny that so far holding has proven to be one of best ways of earning extra money, but bitcoin is made to be currency and not asset. So for strong and stable price we need constant flow, which mean constant transactions of buying and selling, not mostly buying and holding. So if we really wish for bitcoin to success in its goal, we must start using it more frequently (at least as much as we can). Number of holders must not be higher than number of "users".

What are you thoughts on the matter?

Each one of us has different views when it comes to bitcoin, some believe it is a currency and some also believe it is an asset or investment.So when people believe it is a currenncy they are buying and selling their bitcoin depending on the flow of prices like buying on low price and selling on high price. and for those believe it is good for investment then they are holding it for.long term investment.
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April 21, 2018, 07:16:45 PM
 #17

In most advice people can find that holding bitcoins is best choice, but is that really best for Bitcoin? I can't but ask my self, what would happen if we all would just hold our coins? Only answer that comes to my mind is, bubble would occur and bad things would happen.
 
I don't deny that so far holding has proven to be one of best ways of earning extra money, but bitcoin is made to be currency and not asset. So for strong and stable price we need constant flow, which mean constant transactions of buying and selling, not mostly buying and holding. So if we really wish for bitcoin to success in its goal, we must start using it more frequently (at least as much as we can). Number of holders must not be higher than number of "users".

What are you thoughts on the matter?

That is true. but I don't think that every one is holding bitcoin is going to happen, because bitcoin is always being used, at least by ICOs. Constant flow will cause stable price which is unwanted by holders. moreover bitcoin holders will sell when the price is high.  I don't think they will hold bitcoin forever. People need money, not bitcoin.

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April 21, 2018, 07:22:09 PM
 #18

If you believe bitcoin is going up in the long term (and you don't need the cash in the short term) and you're right, HODL is the best thing you can do as a regular-joe retail investor.

If you don't, then put your money somewhere else.
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April 21, 2018, 07:24:46 PM
 #19

I prefer to hold, becouse I`m afraid, that bitcoin will loose its value again and we will loose our money, but better is to trade, it cames up with a profit anyway.

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April 21, 2018, 07:29:28 PM
 #20

Merely holding any crypto is probably the safest but also riskiest bet.
I have been hearing people to say "just hold", however, look at the numbers.
The price of Bitcoin is even lower than it was in January/February.
So the ROI of holding is negative in this case.
On the other hand, if you were trading Bitcoin and making an average of 0.5% ROI/day, in the past 90 days you would've had a total ROI of over 55%.

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