Cult of hoarding

[empoweoqwj]

I'm assuming that newcomers that get involved into bitcoin, eventually will integrate into their beliefs some (more or less) of the community's cultsm, including hoarding.

So, even if a newcomer buys bitcoins, we could assume he hoars at least 10% for the very long term (+20 years, for nephews or for when they're old). The rest of it can be actively traded, gambled, etc. But some will almost for sure be hoarded, because most bitcoin users are young and can risk 800 bucks for a "my precious" coin.

Why are you assuming people will hoard? Some people will buy coins as an investment and some will buy to use. Bitcoin is a currency and you are free to save or spend. You can do both or either.

People will naturally hoard if the price keeps on increasing 100x a year. We all know that can't happen  forever. So hoarders will turn into spenders. Its happening as we speak.

[hilariousandco]

I'm assuming that newcomers that get involved into bitcoin, eventually will integrate into their beliefs some (more or less) of the community's cultsm, including hoarding.

So, even if a newcomer buys bitcoins, we could assume he hoars at least 10% for the very long term (+20 years, for nephews or for when they're old). The rest of it can be actively traded, gambled, etc. But some will almost for sure be hoarded, because most bitcoin users are young and can risk 800 bucks for a "my precious" coin.

Why are you assuming people will hoard? Some people will buy coins as an investment and some will buy to use. Bitcoin is a currency and you are free to save or spend. You can do both or either.

People will naturally hoard if the price keeps on increasing 100x a year. We all know that can't happen  forever. So hoarders will turn into spenders. Its happening as we speak.

Yeah, this is the situation I'm in. I believe in the currency so I'm currently treating it as an investment opportunity. I'm hoarding so l can spend it on things I want in the future.

[guybrushthreepwood]

I'm assuming that newcomers that get involved into bitcoin, eventually will integrate into their beliefs some (more or less) of the community's cultsm, including hoarding.

So, even if a newcomer buys bitcoins, we could assume he hoars at least 10% for the very long term (+20 years, for nephews or for when they're old). The rest of it can be actively traded, gambled, etc. But some will almost for sure be hoarded, because most bitcoin users are young and can risk 800 bucks for a "my precious" coin.

Why are you assuming people will hoard? Some people will buy coins as an investment and some will buy to use. Bitcoin is a currency and you are free to save or spend. You can do both or either.

People will naturally hoard if the price keeps on increasing 100x a year. We all know that can't happen  forever. So hoarders will turn into spenders. Its happening as we speak.

Yeah, this is the situation I'm in. I believe in the currency so I'm currently treating it as an investment opportunity. I'm hoarding so l can spend it on things I want in the future.

I think it's only logical if you believe in the currency the more and more mainstream adoption it gets the more valuable it will become so it's wise to hold on to it now.

[seafarer124]

No different to people using fiat.

Some spend every cent they earn every week, others save for a rainy day, holiday, education, retirement etc.

Just because you have funds does not mean you have to spend it all immediately.

[yatsey87]

No different to people using fiat.

Some spend every cent they earn every week, others save for a rainy day, holiday, education, retirement etc.

Just because you have funds does not mean you have to spend it all immediately.

Tell that to my girlfriend lol.

[the_poet]

Hoarders will turn into spenders when Bitcoin use is common enough that at least 0.x% of all businesses accept it. You can't be a spender when virtually no one accepts it in everyday life.

[nobbynobbynoob]

I "hoard" and spend bitcoin. I have two stashes, and the spending stash is not trivially small either.

I was actually spending bitcoin on services that accepted it (VPN etc.) when the bitcoin-to-fiat valuation was but a fraction of what it is today, and don't feel silly about that either. Similarly, Laszlo doesn't regret buying those pizzas: he did admit they tasted good!

[guybrushthreepwood]

IF you want to save and spend you can always buy Bitcoins especially to purchase something. that way you can do your bit to promote the currency of the coin whilst still saving.

[empoweoqwj]

No different to people using fiat.

Some spend every cent they earn every week, others save for a rainy day, holiday, education, retirement etc.

Just because you have funds does not mean you have to spend it all immediately.

Tell that to my girlfriend lol.

lol. Best not to tell her of all the funds then

[Anon136]

its pronounced "hodling" not "hoarding"

[Timetwister]

Not only we need more people accepting them as a payment method, but also more ways to invest them. If in the future it becomes easy to invest in something like a stock market, there will be less hoarding, and more capital used to increase productivity.

[hilariousandco]

Not only we need more people accepting them as a payment method, but also more ways to invest them. If in the future it becomes easy to invest in something like a stock market, there will be less hoarding, and more capital used to increase productivity.

What do you mean by invest? I'd say it's easier to buy into Bitcoins than it is in shares.

[jubalix]

its pronounced "hodling" not "hording"

it could be hoadring

[BitDreams]

I am also Hoadring. Hoardring will make many savers around the world.

One day we will look around and where we see a debtor today, we will instead see a saver tomorrow. Many people with assets instead of slaves with undeserved burdens.

Every hoadrer has a price and eventually they spedn their Bitcoins. The point of the game is to eventually disperse your coins before they become lost to the blockchain.

[Erdogan]

Not only we need more people accepting them as a payment method, but also more ways to invest them. If in the future it becomes easy to invest in something like a stock market, there will be less hoarding, and more capital used to increase productivity.

What do you mean by invest? I'd say it's easier to buy into Bitcoins than it is in shares.

Holding money is just saving. It pays no interest, but you have something for a rainy day. Holding bitcoins in the implementation phase is a special, one time opportunity for profit. You could call it investing because of that, with a stretch.

Investing is buying capital goods with the intent of producing something for money, directly or via a common stock company.

A middle ground is lending. For that you will need to have someting back for the risk, and some compensation for not being able to invest directly (or consume now). Insurance and interest.

Those are the three things you can do with your savings.

If you are an entrepreneur, but have no money, you can loan some. If you have a good project, money is always available.

[bitgeek]

IF you want to save and spend you can always buy Bitcoins especially to purchase something. that way you can do your bit to promote the currency of the coin whilst still saving.

Yeah, I would spend some but there's so little acceptance now, that it's just better to hold (or hodl).

[keithers]

Whoreding

[empoweoqwj]

Whoreding

That's a new word (to me). Care to elaborate?

[Anon136]

Whoreding

That's a new word (to me). Care to elaborate?

Yea whores don't hoard, thats sort of like part of what it means to be a whore.

[hilariousandco]

IF you want to save and spend you can always buy Bitcoins especially to purchase something. that way you can do your bit to promote the currency of the coin whilst still saving.

Yeah, I would spend some but there's so little acceptance now, that it's just better to hold (or hodl).

Well if you want to buy something from a store that accepts Bitcoin, go out of your way to buy it in Bitcoin and promote the use of the currency. It's on all our interests to do so.