Why hoard Bitcoin?

[Arvin01]

Because of the value of Bitcoin, people will hoard it,
Take me as an example. I will invest 20% of my salary in Bitcoin because I think Bitcoin is very valuable and I believe in Bitcoin, so I think Bitcoin is worth investing in.
But if you let me buy something with bitcoin, I will hesitate and pay with fiat currency first.
Although people can pay in any way, will Bitcoin be your first choice?
Now the difference between fiat currency and Bitcoin is that one is inflation currency and contraction currency. Inflated currency (fiat currency) means that if it inflates, you want to get rid of it as soon as possible. For example, we use fiat currency to buy things, invest in real estate, cryptocurrency, stocks. And to shrink the currency (Bitcoin) you buy goods or services, or hoard it. This has no effect on the economy, except to reduce the monetary base and make the currency more scarce, so deflation is faster.
In my opinion, Bitcoin is a store of value, not a currency. There may be cryptocurrencies becoming legal tender, but not now, volatility and supply and demand need to be considered.

[Bttzed03]

Because of the value of Bitcoin, people will hoard it,

On the contrary, people will choose other cryptocurrencies because it's cheaper than BTC in the hopes that it will also rise in value.

~ There may be cryptocurrencies becoming legal tender, but not now, volatility and supply and demand need to be considered.

Although some of its citizens are not in favor of the decision, the El Salvador government already declared BTC as a legal tender. There are also news articles that says legislators in other countries are proposing to do the same. Before all that, Japan already recognized bitcoin as a payment method.

[enhu]

I usually hear the word Hoard used for products stored in a warehouse to wait for the price to go up. ITs often a strategy to profit and just like Bitcoin I guess they are aiming to profit too.

Everyone wants to hold but when the time comes people will sell. Who can hoard BTC after that are institutions who can afford to buy a lot of them later to be used for their Defi platforms.

[jinneas]

When you hoard bitcoins, it means you trust bitcoins enough to deposit bitcoins. But this does not mean that hoarding is good. Bitcoin currently does not operate under a model like a normally functioning economy, and the biggest impact on its valuation is that the rise in adoption leads to scarcity and price increases. If you can reduce hoarding and increase investment, you may end up with more benefits.

[Robinson66]

Because of the value of Bitcoin, people will hoard it,

On the contrary, people will choose other cryptocurrencies because it's cheaper than BTC in the hopes that it will also rise in value.

~ There may be cryptocurrencies becoming legal tender, but not now, volatility and supply and demand need to be considered.

Although some of its citizens are not in favor of the decision, the El Salvador government already declared BTC as a legal tender. There are also news articles that says legislators in other countries are proposing to do the same. Before all that, Japan already recognized bitcoin as a payment method.

But most people still choose to invest in Bitcoin.
I pay Bitcoin with a lightning grid, which is very convenient.
However, when I paid a few times, the price of Bitcoin rose, I will regret it with Bitcoin to pay.

[Upgrade00]

Because of the value of Bitcoin, people will hoard it,

On the contrary, people will choose other cryptocurrencies because it's cheaper than BTC in the hopes that it will also rise in value.

I believe "value" in the op is referring to the underlying value of an asset and not merely its dollar equivalent. Every altcoin is cheaper than Bitcoin relatively, but it would not offer more value as Bitcoin is more likely to growing dollar equivalent and adoption than all other currencies.

Some still fall into that trap of buying coins simply cause they are dead cheap even though it does not translate to higher potential for growth.

[hugeblack]

Am I the only one who doesn't see any connection between all these points?
Inflation and the fact that a currency is a store of value, scarcity, deflation and other things do not make an asset uniquely valuable. But how to manage the quantity supplied and increase demand is what creates value. For example, there are many altcoins with a smaller supply of Bitcoin, yet it is not of the same value.

[kotajikikox]

Because of the value of Bitcoin, people will hoard it,
Take me as an example. I will invest 20% of my salary in Bitcoin because I think Bitcoin is very valuable and I believe in Bitcoin, so I think Bitcoin is worth investing in.
But if you let me buy something with bitcoin, I will hesitate and pay with fiat currency first.

are you sure that 20% of your salary will never be needed in the next months or in emergency ? because if not then forget about that word Hoarding because you will only regret when the price suddenly drops bad in time that you needed it badly to cash out.

Although people can pay in any way, will Bitcoin be your first choice?
.

if given a chance then why not, if the funds i have is an amount that i can just forget for 10 years? trust me i will all invest that amount in my bitcoin folio just making sure that i am supported for that next 10 years.

[Bttzed03]

~
But most people still choose to invest in Bitcoin.

What's your basis for saying most? If you're basing it on the price, we could say that people with deeper pockets just continue to top up their BTC holdings. If your basis is on the number of wallets holding BTC, there are probably more wallets holding ETH, BNB, or other major alts.

Because of the value of Bitcoin, people will hoard it,

On the contrary, people will choose other cryptocurrencies because it's cheaper than BTC in the hopes that it will also rise in value.

I believe "value" in the op is referring to the underlying value of an asset and not merely it's dollar equivalent.~

That's still unclear at the moment. It would be good if OP comes back and clarify that.

[Dax Robinson]

Because of the value of Bitcoin, people will hoard it,
Take me as an example. I will invest 20% of my salary in Bitcoin because I think Bitcoin is very valuable and I believe in Bitcoin, so I think Bitcoin is worth investing in.
But if you let me buy something with bitcoin, I will hesitate and pay with fiat currency first.
Although people can pay in any way, will Bitcoin be your first choice?
Now the difference between fiat currency and Bitcoin is that one is inflation currency and contraction currency. Inflated currency (fiat currency) means that if it inflates, you want to get rid of it as soon as possible. For example, we use fiat currency to buy things, invest in real estate, cryptocurrency, stocks. And to shrink the currency (Bitcoin) you buy goods or services, or hoard it. This has no effect on the economy, except to reduce the monetary base and make the currency more scarce, so deflation is faster.
In my opinion, Bitcoin is a store of value, not a currency. There may be cryptocurrencies becoming legal tender, but not now, volatility and supply and demand need to be considered.

When you hoard bitcoins, it means you trust bitcoins enough to deposit bitcoins. The best money is the most trustworthy money, so hoard bitcoins.

[Zedpastin]

Bitcoin is to valuable which means people do not like to use it as a currency and instead like to hodl it for long term gains. I think Altcoins are the future of micro transactions and Bitcoin will be used as a reserve currency.

[Timelord2067]

Hoarding bitcoins is not the best way to help the crypto economy flourish.  It may be beneficial in the short term to help drive up the price by taking those coins out of circulation, but eventually, you will want to cash out.  If there is a sudden downward plunge causing people to dump their bags, then it will cause a rut no different to any stock exchange commodity.

People should allow the price to creep up slowly over time through ever increasing use and acceptance.

[mk4]

Bitcoin is to valuable which means people do not like to use it as a currency and instead like to hodl it for long term gains. I think Altcoins are the future of micro transactions and Bitcoin will be used as a reserve currency.

It's highly unlikely for any altcoin to overtake Bitcoin in terms of payments and or SoV entirely. Right now, obviously it would make some sense to use alts because not all platforms support Lightning, but in the long term? I think bitcoin wins by winner-takes-most.

[Timelord2067]

It's highly unlikely for any altcoin to overtake Bitcoin in terms of payments and or SoV entirely. Right now, obviously it would make some sense to use alts because not all platforms support Lightning, but in the long term? I think bitcoin wins by winner-takes-most.

Perhaps not in the value of each coin, however, in the total transactions made I think alts such as Ether will overtake bitcoin given the tokens such as ERC-20 are tied to ETH for their "gas" / transaction fees.  If those tokens migrate away from ETH, then ETH (and similar) would loose all relevance leaving bitcoin to take the lions share of daily transactions.

[anotherdayyyy]

I hoard Bitcoin out of curiosity and belief. I think the creation of Bitcoin, the tycoon in crypto world, a miracle. I put some Bitcoin in my wallet and see what would happen in then years, like a magic! yes, another factor is for value storage. Bitcoin might become the anchor of value, way more reliable and convincing than USD and gold for its scarcity and consensus.
hoard it and hold it.  

[Zedpastin]

It's highly unlikely for any altcoin to overtake Bitcoin in terms of payments and or SoV entirely. Right now, obviously it would make some sense to use alts because not all platforms support Lightning, but in the long term? I think bitcoin wins by winner-takes-most.

Hopefully at least that would reduce the amount of scams in the altcoin sector but at the moment it is definitely better to use altcoins for micro transactions because of the fees that Bitcoin has. Lightning is exciting but compatibility with platforms is a problem but hopefully as you say that will get better over time. 

[bitcub]

Actually you can play swing trade with your current Bitcoin holdings with your life expenses. For example, if Bitcoin reached major resistance that may cause Bitcoin to have a huge correction, then sell Bitcoin and use it for your life expenses. If Bitcoin is approaching to go up. Then buy Bitcoin using your salary.

Because of the value of Bitcoin, people will hoard it,
Take me as an example. I will invest 20% of my salary in Bitcoin because I think Bitcoin is very valuable and I believe in Bitcoin, so I think Bitcoin is worth investing in.
But if you let me buy something with bitcoin, I will hesitate and pay with fiat currency first.
Although people can pay in any way, will Bitcoin be your first choice?
Now the difference between fiat currency and Bitcoin is that one is inflation currency and contraction currency. Inflated currency (fiat currency) means that if it inflates, you want to get rid of it as soon as possible. For example, we use fiat currency to buy things, invest in real estate, cryptocurrency, stocks. And to shrink the currency (Bitcoin) you buy goods or services, or hoard it. This has no effect on the economy, except to reduce the monetary base and make the currency more scarce, so deflation is faster.
In my opinion, Bitcoin is a store of value, not a currency. There may be cryptocurrencies becoming legal tender, but not now, volatility and supply and demand need to be considered.

[bitterguy28]

Because of the value of Bitcoin, people will hoard it,
Take me as an example. I will invest 20% of my salary in Bitcoin because I think Bitcoin is very valuable and I believe in Bitcoin, so I think Bitcoin is worth investing in.

YOU WILL , and not YOU ARE  meaning this is still a plan and happening right/ so you are suggesting and not i actual situation.

But if you let me buy something with bitcoin, I will hesitate and pay with fiat currency first.

no one will ask you to use your bitcoin because that is your coins and you ar in full control of it.

Although people can pay in any way, will Bitcoin be your first choice?

at least you know that bitcoin is a currency right? and this is a must to spend and circulate?

In my opinion, Bitcoin is a store of value, not a currency. There may be cryptocurrencies becoming legal tender, but not now, volatility and supply and demand need to be considered.

that is your opinion then let it be, but don't ask me to deal with yours because i know what to do and use of bitcoin.

[suryana]

Because of the value of Bitcoin, people will hoard it,
Take me as an example. I will invest 20% of my salary in Bitcoin because I think Bitcoin is very valuable and I believe in Bitcoin, so I think Bitcoin is worth investing in.
But if you let me buy something with bitcoin, I will hesitate and pay with fiat currency first.
Although people can pay in any way, will Bitcoin be your first choice?
Now the difference between fiat currency and Bitcoin is that one is inflation currency and contraction currency. Inflated currency (fiat currency) means that if it inflates, you want to get rid of it as soon as possible. For example, we use fiat currency to buy things, invest in real estate, cryptocurrency, stocks. And to shrink the currency (Bitcoin) you buy goods or services, or hoard it. This has no effect on the economy, except to reduce the monetary base and make the currency more scarce, so deflation is faster.
In my opinion, Bitcoin is a store of value, not a currency. There may be cryptocurrencies becoming legal tender, but not now, volatility and supply and demand need to be considered.

Maybe for me personally I would say I am not a hoarder, because if it is interpreted to hoard only for a large company that stores bitcoins in quite a large amount, even fantastic. For myself, looking for coins just for my life needs, at least the bus is fulfilled and has future savings.

[mk4]

Perhaps not in the value of each coin, however, in the total transactions made I think alts such as Ether will overtake bitcoin given the tokens such as ERC-20 are tied to ETH for their "gas" / transaction fees.  If those tokens migrate away from ETH, then ETH (and similar) would loose all relevance leaving bitcoin to take the lions share of daily transactions.

When talking about number of transactions per day, then of course Ethereum has overtaken Bitcoin. Bitcoin is being used for payments transactions while Ethereum is used for DApps and payments transactions, it shouldn't be a surprised whatsoever.