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Author Topic: Hodlers will not change the world  (Read 3747 times)
Existence
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June 29, 2018, 09:17:14 AM
Merited by ice18 (2), odolvlobo (1), d5000 (1), Kakmakr (1), FastSlots (1), boranes (1)
 #1

There are two opinions in the crypto world: some people consider cryptocurrencies digital gold, while others believe that cryptocurrencies will be used as means of payment.
 
The first idea is quite convenient. You can just do nothing. For the first time ever, doing nothing has actually become a heroic deed – people are proud to be hodlers, proud to do nothing with their cryptocurrency. But do you really believe this approach will change the world? Seriously?
 
Let’s be honest. Real crypto communities – there are few. There are few people who own cryptocurrency. The number is vanishingly small. Crypto prices will not grow while there are so few of us. The demand is just too small and there are no drivers of growth.
 
So, what should we do? Is there a reason to just sit and wait for cryptocurrencies to grow? I believe there is none. The only possible solution is that people actually start using crypto in their everyday lives. The number of crypto transactions should amount to hundreds of millions a day. Then, and only then, will cryptocurrencies grow in price.
 
Personally, I see no other options. However, this cannot be handled by one man alone. The whole crypto community should do this. You may ask: is it possible to live paying with cryptocurrencies only? Judging from our experience –  yes. Moreover, we have video proof: here is a story of a guy from Scotland https://www.youtube.com/watch?v=Gb_yVnkHSFs and here is a story of a guy from Thailand https://www.youtube.com/watch?v=l09U16Oqbck.
 
People will say I’m biased, since I founded a project where you can sell and buy goods for crypto. Yes, it’s true. Still, I’m more interested in expansion of cryptocurrencies than in my project’s expansion. In fact, I founded it for one simple reason: I’m sure that hodlers will never change the world. But we will. We should just learn from the guys in our videos who pay with cryptocurrencies in everyday life and make cryptocurrencies valuable.  

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boranes
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June 29, 2018, 09:37:25 AM
 #2

You can just do nothing. For the first time ever, doing nothing has actually become a heroic deed – people are proud to be hodlers, proud to do nothing with their cryptocurrency. But do you really believe this approach will change the world?
I'll give you merit for this.
I spend lots of time in altcoin section and everyone is repeating hold until market goes green or hold until whale come, they don't understand market will never go green if everyone is holding.
Other side of story, if everyone is holding no one is using crypto, without real use crypto will die. People should go back to 2009. and read what bitcoin is and for what it is created.

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June 29, 2018, 10:41:19 AM
 #3

Absolutely agree with topic stater!
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June 29, 2018, 11:24:56 AM
 #4

There are two opinions in the crypto world: some people consider cryptocurrencies digital gold, while others believe that cryptocurrencies will be used as means of payment.
 
The first idea is quite convenient. You can just do nothing. For the first time ever, doing nothing has actually become a heroic deed – people are proud to be hodlers, proud to do nothing with their cryptocurrency. But do you really believe this approach will change the world? Seriously?

Obviously, it is not "for the first time ever". People have been hoarding gold as well as other precious metals for centuries. You can find these people even here, on bitcointalk. Of course, they are not going to live a few centuries (though who knows), but they are not going to sell their precious pieces of shiny metal either. So it is about passing the wealth from one generation to the next one. Other than that, I essentially agree with everything you said. Hoarding something which has no intrinsic value is ultimately an exercise in stupidity and futility, and now it is time for this point to be proven in practice.

In fact, hoarding gold is not much different either, but in this case specifically you can at least be sure that your wealth won't turn into trash overnight. In simple terms, cryptocurrencies are not gold, digital or otherwise, and over the long term, holding them is very likely going to get you hurt badly.
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June 29, 2018, 11:31:57 AM
 #5

Very interesting, I don't know if the hodlers could change the world but it could reduce the panic selling tho which is good for the market I think. For me personally the world will change if there is no more war, and a terrible politicalism in each country.

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June 29, 2018, 11:38:15 AM
 #6

I will also give you a sMerit for that, because I am saying that for years now. Nobody gets anything in life, by sitting on their ass and doing nothing. <The people doing this, will just survive and amount to nothing>

It is actually so easy to do this. Every month you have a budget for things that you have to pay. You currently pay for those things in fiat. Just go out there and look for services that give you the same thing, but they will have to accept Bitcoin. Then convert that part of your budget to bitcoins and spend that at these merchants.

If a few thousand people do this with their budget every month, then this thing will grow much bigger. I am doing this with my food budget and in that way, I support my local Bitcoin merchants and I oil the Bitcoin ecosystem. <The more merchants I can convince to do this, the more demand will be for the coins>  Grin

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June 29, 2018, 11:39:38 AM
 #7

hodlers is a patient guys and patient is important thing in the new world. i mean hodlers can change world. in crypyo world or real world, but i am sure.
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June 29, 2018, 11:46:42 AM
 #8

hi, thank you for your post.
you wrote a a lot of good considerations. I overall agree with you and with what you say.
now it's clear that hodlers will not change the world.
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June 29, 2018, 11:48:20 AM
 #9

Holders will change the Crypto world because past holders are currently whales in this platform so holders are main in future in Crypto market. If you believe my words you will buy soon then only we will rule the Crypto world. But some peoples are wrongly understanding in Crypto investment so they are all panic traders.

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June 29, 2018, 11:54:15 AM
 #10

While we can do both. Just like a person with a dream does to his money. Keeping his savings and spend what is left to his salary. Purely hodling really does nothing. We really need to keep the coin rolling.

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June 29, 2018, 11:56:50 AM
 #11

There was an old saying: 1 Dogecoin = 1 Dogecoin....


It all depends if people bought Bitcoin for a reason (spend almost anonymously), if people earned the Bitcoin or bought it as investment.
Imho you have to understand all the sides of a situation in order to be fair and completely meaningful.

First two groups of people will sell, Bitcoin is just money, very good. The hodl part comes for investment, since many are not skilled for trading and they believe/believed that holding will make them profit (may still do!).
In this case holding may still be okay. 1 Bitcoin = 1 Bitcoin. And it stays so until you sell. If you bought it in mid-December and selling now, that's quite a loss. If you don't, you still have one Bitcoin. This is what holding is for.

Unfortunately far too many have invested in Bitcoin with the hope of getting rich quick. They are now biased - if they sell they lose, if they don't, they may lose even more - and the hold advises may give them hope. Because the market nowadays is not normal and may recover. However, it's clearly not the best advice, not for everybody. But your advice is as bad as the "HODL" ones. The best advise is "use your brain and do as it suits you best".

I also don't agree that the price will grow only when the number of transactions will grow. As I said, it's not a normal market. I think that the manipulation is too big. When that'll end, there could be a recovery, maybe some +50%. Of course, some dream of 20k+, they have to wait a bit more. Of course, there cold be a drop to 2k or even 1k. That's why people have to use their own judgement in investing.

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LodisMcguire
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June 29, 2018, 12:00:15 PM
 #12

What can we do? For a small player like some of us,there's no choice but to keep holding.Not all user got a whole lot of bitcoin in their wallet,so it will be like that till bitcoin distributed to all people.Ony whale can move the market,so i think it will take a long time for us to make a change in this crypto word.
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June 29, 2018, 12:07:54 PM
 #13

You can just do nothing. For the first time ever, doing nothing has actually become a heroic deed – people are proud to be hodlers, proud to do nothing with their cryptocurrency. But do you really believe this approach will change the world?
I'll give you merit for this.
I spend lots of time in altcoin section and everyone is repeating hold until market goes green or hold until whale come, they don't understand market will never go green if everyone is holding.
Other side of story, if everyone is holding no one is using crypto, without real use crypto will die. People should go back to 2009. and read what bitcoin is and for what it is created.

Thats true with you say, if Bitcoin users still do not increase, people keep hold bitcoin and do not use it then bitcoin will stay in place. but if the Bitcoin users are growing and growing I'm sure Bitcoin will keep going up, so bitcoin can be used everybody again and the price will definitely soar in the market.
essentially users can still hold bitcoin until there is a whale comes, but the  of investors or bitcoin users must have continue to grow.

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June 29, 2018, 12:09:35 PM
 #14

This is certain: crypto will change the world. But it will take some time...  Grin
 

Bitcoin and crypto currencies are alive 10 years ago and still, nothing has changed. The world will change, that is certain but do we really need to say that it is because of the crypto currencies? If one thing will be the reason why the world will change and is connected to crypto currencies, that will be because of the Blockchain. It is a great invention and will be a door way to a lot of technologies in the future.

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June 29, 2018, 12:10:11 PM
 #15

Yes you are right, HODL is not always a good decision. HODL bitcoin can indeed withstand bitcoin from falling prices, HODL bitcoin can also improve individual finances by generating profits through pumps. But hoarding and HODL will make bitcoin meaningless in the community. Bitcoin should work more broadly and this requires the cooperation of all bitcoin holders.
Bitcoin needs to work as a real means of payment not only to exchange it for paper money and then spend it, so let's think about whether it is better to continue HODL but in the end it will just break the bitcoin and make the entire crypto market crumble or choose to use bitcoin as a tool real payments but will bring us into the future of better payments?
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June 29, 2018, 12:19:37 PM
 #16

if it is true that people use everyday cryptocurrencies that this entire planet included is missing as a tool that helps Bitcoin to gain a foothold in the world, something that makes people turn to bitcoin that is more abstrusible to ordinary people than any other. with a smart phone or with a pen drive or even on paper is more what is more acceptable the fact is that they use it massively and do not miss the essence of bitcoin I believe that in a short time we will have it roaming through the streets

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June 29, 2018, 12:19:47 PM
 #17

This is no different than gold or any other attempt to have a store of value that is a neutral one outside of anyone's reach but yours. With Bitcoin, by holding it, you are supporting the system and giving it trust. It basically means "I bet X amount of money that this system is safe to keep my X amount of money through time". So yes, hodlers are giving Bitcoin trust as a store of value capable of keeping capital safe, so it is not doing nothing, even if you are really doing nothing in practice.

Of course time should be spent on other more productive activities than checking the price 24/7, improving Bitcoin technologically and creating content around it for instance, would help Bitcoin actively.
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June 29, 2018, 12:21:24 PM
 #18

In my opinion, use and replace >> holding. Holding still has some value in it because it helps disperse the supply. Let's say top-100 accounts own 25% of bitcoin is better than top-100 accounts own 50% of bitcoin. By holding alone, bitcoin cannot be the world p2p currency as explained in Satoshi whitepaper. I'm afraid bitcoin will be replaced by cryptocurrency that people frequently use.



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June 29, 2018, 12:25:41 PM
 #19

By holding alone, bitcoin cannot be the world p2p currency as explained in Satoshi whitepaper.
And that is the point OP is trying to make(by saying that bitcoin can't change the world if people will hold it). Have you even read the OP?
The world will change, that is certain but do we really need to say that it is because of the crypto currencies?
We don't need to but those who believe it are free to do so. With the growth of blockchain tech and its adoption, it is inevitable that cryptocurrencies will improve as well and rise in price(because it is the first in the field to apply blockchain after all).
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June 29, 2018, 12:28:21 PM
 #20

Bitcoin is designed to use as a currency. But many people use it as a invested platform.  It has been invented in two thousand nine. But it has become popular in last year when its price rustically go up and people consider it as an investment platform. At that time people think it as money making machine. But this concept is going to end. Now time has come to turn our concept from investment to mood of payment. If this concept spread among us then the user of bitcoin will increase and we the  user of bitcoin will be benefited.
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