Why hoard Bitcoin?

[Wexnident]

Well, that's with the current situation where the value of Bitcoin is still fluctuating by huge margins. In the near future though, I expect it would naturally die down since its supply wouldn't exactly increase anymore and you can't exactly expect it to continue rising even at that point. It would be used no matter what since its use is as a currency, it wouldn't really work as a store of value if there's no issue with the fiat value after all, that would be quite senseless imo. There are also fixes being done to the inefficiencies that Bitcoin has in terms of performing as a currency, so in the long term it would really act as one.

[Frengki_cisco]

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.

Should-idea-to invest 20% of salary_in_Bitcoin done 4-5 years valid-sure-by now you are already a billionaire.

But-it doesn't matter, if you're new to Bitcoin 1 or 2 years-there is a high chance that Bitcoin will go to the moon in the future-I wish you success in investing in digital currency.

[jakdanyel]

The answer is simple actually. Because Bitcoin is the best cryptocurrency which makes people a lot of profit in the long run. I myself experienced this before. I made an investment into Bitcoin for a long term and made a great amount of money. For now, the second best alternative seems like Ethereum. It is on a great run nowadays also.

[ChiBitCTy]

I think right now it makes more sense to store bitcoin and or other types of cryptocurrency for a number of reasons.  Right now bitcoin has become a hedge asset, something that most people realize is a breakthrough technology and are storing it but not using it as currency.  I think part of that reason is that using it as a currency right now is not as efficient as many other ways.  Now it does have some features that are great and better than traditional money, but other features are still a major work in progress.

[skybot13x]

I think right now it makes more sense to store bitcoin and or other types of cryptocurrency for a number of reasons.  Right now bitcoin has become a hedge asset, something that most people realize is a breakthrough technology and are storing it but not using it as currency.  I think part of that reason is that using it as a currency right now is not as efficient as many other ways.  Now it does have some features that are great and better than traditional money, but other features are still a major work in progress.

Using Bitcoin also triggers more problems in many countries of the world. First and foremost taxes. Apart from that, anything that is deflationary and tends to gain in value is preferred to be hoarded by people, that is not surprising at all. Even if it was easier to use as a medium of exchange or currency, people would still tend to hoard it. That is the same for fiat currencies. When interest rates are high, overall investments go down as people prefer to put their money to stay idle in exchange for a guaranteed interest rate for a specified period of time. If we had very high interest rates, less money would probably go into Bitcoin. With low interest rates people really start to analyze markets for opportunities. Bitcoin is a real one.

[imstillthebest]

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?  

if you clasify yourself as a Bitcoin hoarder then thats true that your more on hoarding than spending but there's also hoarders that uses their Bitcoin for purchase .
 if you support btc why will you limit yourself on supporting it ? people can't pay in anyway because not all merchants accepts anything .
If your online and you have a Bitcoin you will likely use it if ever you don't have a balance on your other payment accounts .

[Kong Hey Pakboy]

The answer is simple actually. Because Bitcoin is the best cryptocurrency which makes people a lot of profit in the long run. I myself experienced this before. I made an investment into Bitcoin for a long term and made a great amount of money. For now, the second best alternative seems like Ethereum. It is on a great run nowadays also.

Not just the best but Bitcoin is also the biggest gainer of all cryptocurrencies out there excluding the shitcoins that are getting pumped by the creators and scummy people that tricks people into investing in that shitcoin and doing a rugpull.

[Freezingel]

Yeah, one of the main reason why it is so hard for bitcoin to be treated as currency is because of the value it holds. It backwards to bitcoin to be honest, because it has such a high value, people are hesitant to use it as a currency, afraid that they will experience loss because if they just hold it, the price will go up. So why bother spend their bitcoin when they can pay with fiat as well? Thus, many people are hoarding bitcoin, waiting until it's high enough for them to sell and gain profit as they want. Not a chance thinking to use it as a currency i guess, it's just such a waste since the value is high.

[xSkylarx]

The answer is simple actually. Because Bitcoin is the best cryptocurrency which makes people a lot of profit in the long run. I myself experienced this before. I made an investment into Bitcoin for a long term and made a great amount of money. For now, the second best alternative seems like Ethereum. It is on a great run nowadays also.

Agree. Most people are interested in bitcoin because of its current high price. If you bought bitcoin a few years ago and sold it today, you would make a significant profit, making people wealthy. What matters now is bitcoin, and if you can hoard a large amount of bitcoin, your future is secure; simply hold it for a few more years, and you'll see how the price changes in that year.

[Ararbermas]

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.

hodling bitcoin is a good idea than spending it to anything.. Because bitcoin is a very promising crypto in the market so if you keep spending it, and when bitcoin price were gradually increasing of course you will receive less profits from it.  So you better pay with fiat than spending your bitcoin because it's like it's ok for you to miss the opportunity instead of good profits.. So always think about it if you want to buy something especially if it's unnecessary.  

[Kasabus]

We all have different reasons but most likely it is all about its market value. Personally, I hoard Bitcoin coz I think and believe this could be more valuable in the future. I may be right or wrong but this is a matter of choice and we all have the choice also how long we keep hoarding and how much we have to keep. Maybe in my life, this was the tough investment I've made. I put more funds in here particularly in Bitcoin but I have faith, and this makes me keep thinking I was doing the right thing and the right decision.

[leea-1334]

Hoarding alone sounds ridiculous but look at gold,,, People only hoard it (whoever heard of gold being used to buy things these days).

But I do agree hoarding only for Bitcoin is not useful. Without usage,,, there is no proof of value. No network activity and no such thing as BTC as a payment method between p2p without intermediary. Store of value also does not work right now because of volatility.

[blckhawk]

The answer for me is simple, you don't want to be missing out big time when the prices are going up and you don't have a lot of bitcoin in your possession. Also, hoarding is a bit of a wrong description, you don't consider bitcoin less than 1 as a lot of bitcoin, that's a fraction of it so I prefer the term holding or hodling much more since it applies to more people.

[haasanjui]

Bitcoin is hoard because it is precious coin crypto market. It is expensive. Traders and investers intrusted in this coin because they now this will go on moon in future. As you now it is digital currency, in future there are many chances that it will be a source of payment. Tesla company is part of success of Bitcoin.

[ChrisPop]

At this point in time the only reason why would someone pay with BTC is if he lives off-the-grid and doesn't use the banking system OR he is under pressure to pay his bills and only has BTC avaiable.
In the current market conditions Bitcoin does not seem the optimal method to make payments. It mostly serves as an instrument for investments in the underlying network and its fundamentals (scarcity, portability, decentralization, etc.).

[topbitcoin]

If to pay maybe something with small amount, and i still in that shop i think i will pay with fiat. But maybe for something worth the fee and overseas, like if the price is morely like a lot multiply of the fees maybe i can consider it because i don't have credit card or maybe wouldn't want to input my debit card in there. Or maybe if not bitcoin but change to other crypto with less fees and faster transaction.

[masterrex]

I think the investors are already aware, how profitable if they invest in Bitcoin compare to others, And I believe that was the reason why they are hoarding or accumulating more and more Bitcoins in their position. Usually, big investors( whales) have a large sum of money to buy Bitcoin and hold so thats the case if you are a whale, On the other hand, IMO, it doesn't matter how you call Bitcoin whether it's a currency or an asset, etc. the more important is it has a store of value that will generate profit when you hold it.

[bitzizzix]

I personally keep bitcoin in the long term the reason is to multiply the promising profit and also it is safer for other and proven types of investments, and besides that bitcoin is the most sought after option and many people to invest because it can store value.
although the risk is volatile the price can go down but in the long term it will go up again even beyond expectations, so for me to store or hoard bitcoin for me I will never be afraid of reasons for the long term and I also hoard some ethereum but bitcoin is a priority.

[Kusman]

Bitcoin is actually a currency also. We call it as a "cryptocurrency" in the end. But it is more of a store of value for most people. Because people use Bitcoin for investment purposes the most. There are people who prefer using Bitcoin as a payment method wherever it is available also. But still, we can't use it as a payment method everywhere.

[pawanjain]

This happens because of the rising value of bitcoin. If you want to buy a particular product with bitcoin you will have to spend less amount of BTC in the future because the price of bitcoin will increase.
On the other hand, with rising inflation, you will have to spend more amount of fiat currency in future to buy the same product which is why people tend to spend less fiat now to buy the same product.
In Layman's terms, the decreasing value of fiat currency and rising value of bitcoin is making people spend fiat for expenses and buy bitcoin for investments.