I went to a bitcoin meetup Many people there had bitcoin, no-one actually use it

[figmentofmyass]

HODL approach is definitely hurting us, but we are also helpless in this case because we can't find any single place to spend that bitcoins! 

is it really hurting us? i really think the fears over hoarding are exaggerated. granted, for bitcoin to have utility, people need to transact. but does everyone need to transact all the time? no!

even if the majority of users were hodlers and hardly ever used their coins, there will always be people transacting. bitcoin provides censorship resistance, cross-border remittance, privacy, fast and secure settlement, irreversibility, and more. people aren't gonna stop transacting with it. it doesn't matter if there's a lack of merchants who accept it right now.

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[Lily_Olive]

Not a big deal.. actually  the main thing is that this is common mindset of people in the street people.. basically they dnt want any change.. so thats why they are just doing like that...

[cipherhut]

Holding Bitcoin has one benefit and one drawback - Benefit is, holding Bitcoin at this situation is always profitable and Bitcoin Bullrun is on its peak. The drawback is holding Bitcoin is decreasing its flow in the market and because of which many people are still unaware of the Bitcoin utility.

[kr105]

All of them didn't touch their portfolio since the beginning of 2018
there is a topic that always someone mentions and that's 'Why would I use bitcoin to buy something today when in two months from now my bitcoin might worth double'

Honestly, i also have the same mentality these days. Why would i use my BTC now? Obviously it’s price will get bigger, there is a high chance for that. For now, it’s better to hold but i should say that it’s also very clear for me one day we will start using it.

[ityandsyn]

I went to a bitcoin meetup in my town (I'm going every few weeks for almost 2 years)
Because the market is rising now I somehow got into a talk with like 8 people about what they did recently or plan to do with their bitcoins.

All of them didn't touch their portfolio since the beginning of 2018
They didn't even use it for a small transaction.

there is a topic that always someone mentions and that's 'Why would I use bitcoin to buy something today when in two months from now my bitcoin might worth double'

I don't use my bitcoins as well and in some way, I think that the hodl approach is hurting us. I would like to know what the community here thinks.

       Yes that's true many bitcoin holders are just keeping their bitcoin in their wallet but if you meet up other areas like gambling community , in which BTH and ETH are prequently using in betting of sports so here you  will learn the importance of BTC and ETH .

[AjithBtc]

Most of the users have the similar mentality to keep hold of the bitcoin to profit in the long run as the growth with bitcoin is promising. In a survey about the holding of bitcoin, it is recorded on an average the holding period is at least five years. By the duration if they find the price to reach big they make use of the same.

[Apes]

when the BTC price continues to soar then why should they sell or use BTC. this principle were nailed on BTC owners who prefer to hold compared to using it. because the owner confidence see the current market will provide multiple profits in future. if they use or sell now they are throwing away the chance which they always look forward to.

[oseikuf44]

I know dozen of investors that claim to be holding their coins till it reaches that prices they bought them otherwise they are willing to hold it even ten years. Not all bitcoin investors consume their coins.

[AmoreJaz]

when the BTC price continues to soar then why should they sell or use BTC. this principle were nailed on BTC owners who prefer to hold compared to using it. because the owner confidence see the current market will provide multiple profits in future. if they use or sell now they are throwing away the chance which they always look forward to.

most of the btc holders will only use it if its really necessary to cash out. otherwise they will keep building their btc portfolio. that is one glitch in mass adoption. if you are a long time btc holder, are you going to spend it for your daily necessities?

[hahahafr]

We are in a short bull run of bitcoin mate, actually many crypto investors would not want to sell their bitcoins  at this point in time. Don't blame them also either you know, how many retail points or marketplaces accept bitcoin as payment for goods bought? in the future we hope things get better so that we can use our bitcoins in our daily transactions.

[Carlton Banks]

why spend bitcoin when you could spend your quickly inflating fiat money instead? bad money drives good money out of circulation.

this is wrong

you can't spend all your fiat and once, which means there's always an amount of time while it sits around losing value

unless you just switch all your fiat for a decent asset the instant you receive it. Ask anyone who's experienced bad inflation. Even in countries with inflation that's not so bad, people put any spare fiat into property


that's exactly how real people really behave in actual real life, which is the opposite of what Gresham said.

[Indrawan77]

The best way to help bitcoin to growth is actually by spending it, with increasing transaction volume it will help the price become better, holding too long will make the flow become stagnant and halt the increasing value, but to be honest to make people spend it, bitcoin need to be more stable, people need to treat bitcoin as a currency not as an asset

[Apes]

when the BTC price continues to soar then why should they sell or use BTC. this principle were nailed on BTC owners who prefer to hold compared to using it. because the owner confidence see the current market will provide multiple profits in future. if they use or sell now they are throwing away the chance which they always look forward to.

most of the btc holders will only use it if its really necessary to cash out. otherwise they will keep building their btc portfolio. that is one glitch in mass adoption. if you are a long time btc holder, are you going to spend it for your daily necessities?

when the market is bullish like this. as long as I still have cash, I choose to keep BTC in my wallet. if indeed because of an important daily need I will inevitably sell it, but not sell all of my BTC deposits, maybe only partially according to my needs.
in my opinion, this principle is widely applied by current BTC holders.

[Chikito]

I don't use my bitcoins as well and in some way, I think that the hodl approach is hurting us. I would like to know what the community here thinks.

Same here, I don't touch my Bitcoin about 3 Month, since Aprill fool when joke about bitcointalk KYC here.
I was look something happen next, then true, something happen bitcoin price step by step growing up like grazy. Look people hodl them asset for along time.

[Darker45]

Until now, several years later after Satoshi founded Bitcoin, the primary objective has not been met yet. Basically, the reason is that the value of BTC unexpectedly went really high so fast that people eventually realized it would be more practical and profitable to just HODL on their Bitcoins rather spend them, as originally designed. I myself am guilty of this in a way. But I do use a little every once in a while. The rest I want to keep for future growth in value.

[befriendmywater]

I went to a bitcoin meetup in my town (I'm going every few weeks for almost 2 years)
Because the market is rising now I somehow got into a talk with like 8 people about what they did recently or plan to do with their bitcoins.

All of them didn't touch their portfolio since the beginning of 2018
They didn't even use it for a small transaction.

there is a topic that always someone mentions and that's 'Why would I use bitcoin to buy something today when in two months from now my bitcoin might worth double'

I don't use my bitcoins as well and in some way, I think that the hodl approach is hurting us. I would like to know what the community here thinks.

Each person has a different investment strategy, in my opinion, if you are a person with good trading knowledge, you should take advantage of it to get a greater profit than hold and wait for higher prices. .
But hold is also a good strategy, it is like a long-term investment but interest rates are much higher than depositing banks.
If I have a lot of money, I will also buy BTC and ETH to hold until 2025. I believe its value will continue to grow every year.

[Carlton Banks]

people eventually realized it would be more practical and profitable to just HODL on their Bitcoins rather spend them

this just is not true


other people are spending BTC, and that's a big part of what's maintaining the BTC price. Just dump fiat when you receive it, then spend BTC. Easy.

[Seeker#9]

Same situation here, a lot of bitcoin holders won't going to touch their bitcoin until their price target is reached because they all knew of the ongoing bitcoin bullrun that may possibly reach another all-time high. Hodl strategy, I believe, is most profitable when bitcoin is reaching another high. Another potential coin to hold is ethereum which followed bitcoin in 2017 and eventualky reached its all-time high in January 2018 might also follows bitcoin again this year

[mikelsmith2020]

I think they all know what will happened this 2019 and they managed to hold it until 2019 it's so lucky that you've attending those kind off meet up or conference and meeting persons who are crypto minded and I think most of them are real investors and does know a lot about technical analysis/market analysis in where you can ask for their opinions and gain knowledge from their experience and opinions.

[stfN2128]

I went to a bitcoin meetup in my town (I'm going every few weeks for almost 2 years)
Because the market is rising now I somehow got into a talk with like 8 people about what they did recently or plan to do with their bitcoins.

All of them didn't touch their portfolio since the beginning of 2018
They didn't even use it for a small transaction.

there is a topic that always someone mentions and that's 'Why would I use bitcoin to buy something today when in two months from now my bitcoin might worth double'

I don't use my bitcoins as well and in some way, I think that the hodl approach is hurting us. I would like to know what the community here thinks.

yeah, i have the same attitude. I'm not touching my btc since 2 years... as long as we get more and more holders into it, the fucking whales can dump their shit to strong hands... bitcoin will rise naturally by less supply on exchange and higher demand.