Why hoard Bitcoin?

[Sayeds56]

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.

In ded, Bitcoin is a store of value becuase of its scracity, means limited supply of 21 Million, that is why it is better to hold it to book huge gains in future. As well as digital cash and you will see some good DEFI Projects being launched on its network  in coming future that will further enhance its use case. Lightning Protocol Mitigates Bitcoin Network’s Deficiencies as High-Cost, Slow Settlement System like Visa does. This  network will enable Bitcoin holders to use it for buying goods and services.


https://www.crowdfundinsider.com/2021/08/178913-lightning-protocol-mitigates-bitcoin-networks-deficiencies-as-high-cost-slow-settlement-system-like-visa-does-for-fed-reserve-report/

[techearn17]

From what I see, I think everyone has come to this market to collect bitcoin, whether it is us or coin owners or exchanges, everyone is trying to make bitcoin more. Bitcoin will be invaluable. There will be a time today. Whoever has more bitcoins will control this market. The real battle is for power. So everyone is engaged in storing bitcoin. Everyone wants to have power.

[vania vin]

Bitcoin is a coin stored for a long time, if you want to hold it for a long time then you can definitely invest on bitcoin.It is profitable to invest in Bitcoin with all other coins.

What do you mean? here we discuss "why hoard bitcoin" and you discuss bitcoin investment, do you really understand the discussion on the forum or not?

[Peanutswar]

People are trusting the use of Bitcoin by holding it we all know that the market of this coin is so volatile you can get profit immediately and losses if you don't have a good marketing strategy. Also, we already saw Bitcoin in the previous years how it falls and how it rises. But again cryptocurrency is not all about bitcoin to hold there are different profitable coin might bring profit.

[Ausgewielt]

I think it is important to use good strategy for it. If we only buy and hold without selling it is mean that we miss opportunity to get more bitcoin. I personally use bitcoin volatility to grow the number of my cryptocurrency. I buy in bearish market and sell in bullish market. But only holding bitcoin is okay.

[qwertyup23]

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.

Imagine if countries were to accept and view BTC as legal tender, there would be endless and limitless possibilities on its application.

But my question is, since it has been viewed as legal tender, isn't relatively risky to view it as legal tender especially that it is volatile on its price? Though BTC can be used as a currency in other services and products, seeing it as legal tender is a premature move to be honest.

Like what OP said, BTC is a store of value investment. The reason on why it is considered as currency is due to its anonymity value and nature.

[layoutph]

I am not an expert, what doest it mean when they say hoard Bitcoin? Meaning almost all Bitcoins are purchased?  There are still plenty of people selling Bitcoins in exchange. Why not go to every exchange and buy every BTC we need to break the $50k barrier so we can immediately see Bitcoin at $100,000.

[Yatsan]

Commonly, people do hoard their Bitcoins with the belief that doing such can make its value bigger since there is a limited supply of circulating Bitcoin, as the demand increases with the limited circulation, so do the bid for the price will increase and that is why people keep on holding or hoarding their Bitcoin because they are up into up looking on a higher price that Bitcoin can attain if ever they will keep on doing that.

[taufik123]

Hoarding bitcoin is very profitable especially if you keep it in the long term, now it is very appropriate to buy bitcoin because I believe the price of bitcoin will rise again so that the price of bitcoin at the end of this year skyrockets, don't delay this good opportunity to take profits in the future.

don't just focus on price increases. if you really want to go into bitcoin, you have to do an analysis to get it at the right price. bitcoin will indeed be profitable in the long run. But buying bitcoins must do an analysis, don't buy when the price is still high. Long-term bitcoin investments provide the advantage of knowing when to enter and when to exit.

[JerryKin]

The question for me is why not hold bitcoin. Holding is another means through you can build wealth on this platform. I get that volatility is key factor and the main way people earn by trading but also on a flip side, it's also an advantage for those hold for a long period. Although the price fluctuates but there has been a major build over the years. Thereby making Bitcoin worth more than it used to be years ago. This is a simple and more stress free way to accumulate wealth on this platform.

[Turbolinea]

I'm hoarding Bitcoin because I don't want to miss the opportunity to make a lot of profit in the long run. We've witnessed it many times that many people have earned a lot of money and even some of them have got rich since Bitcoin first started to be traded in exchanges. For me, Bitcoin is an investment tool which is only profitable in the long run rather than a short-term. Because it is hard to make a decent profit in short periods in Bitcoin. I'm one of the HODLers.

[jossiel]

I am not an expert, what doest it mean when they say hoard Bitcoin? Meaning almost all Bitcoins are purchased?

HODL = hoard

There are still plenty of people selling Bitcoins in exchange. Why not go to every exchange and buy every BTC we need to break the $50k barrier so we can immediately see Bitcoin at $100,000.

You don't have to buy all of those, you have to buy only what you can afford to lose. During this time, the price are going up again and it's for you to think whether it's worth it for you and you're a long term guy.

[nazmul30]

It is very difficult to keep bitcoin at present because those who are using bitcoin are very happy now.  There are many who sell bitcoins but the price of bitcoin is more likely to increase in the future so none of you will sell bitcoins.  If possible, hold Bitcoin tightly.

[nazmul30]

maybe because they have their own reasons why they hoard bitcoin, especially when they buy at a high price of course they don't want to sell at a cheap price considering the current price, of course everyone wants to do the same thing and doesn't want to release their bitcoin they bought at a high price so they have to sell it at a lower price, because this factor is what makes a lot of people hoard bitcoins

We should use Bitcoin very carefully.  Because if we don't use Bitcoin properly, we will have a lot of problems.  So it is difficult to hold Bitcoin so that we do not sell it.  Bitcoin prices are likely to triple in the future.  It is better not to sell bitcoin for this reason.

[Sanugarid]

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.

Most people choose to invest in BTC because of its big-earning potential not as something to use in buying goods/services since only a few countries legalized BTC as its legal tender. So in the end, we'll still convert it into fiat which is why most people choose to hold/hoard BTC with the hope of high return in the future.

[Ridi]

The quantity of money in the system being used the value of goods.If an individual hoards their supply but people like myself would call saving, then the result is that the amount of expenditure will change. Those with a desire for goods now will still purchase goods.Its a peoples beliefs and emotions.

[romero121]

Just the price history is more than enough to make one realise why people hoard bitcoin. The value of bitcoin has grown with time for different reasons. In around ten years time what it has reached in terms of growth is massive, apart from that is the adoption and widespread. It isn't like any other form of business, because there is no big promotion through advertisement. Everything happened through the people who started to use and this shows the growth is real.

[S4VV4S]

hoarding carried out by miners of bitcoin certainly has several reasons so they choose to hoard bitcoin rather than release it on the stock market, the most important thing is of course influenced by the price factor which is still not stable from the purchase price they can get on the stock market, so these factors make them prefer to hoard rather than have to release at a cheap price, especially bitcoin is long term so that we are more flexible in controlling bitcoin and miners can hoard indefinitely

[haasanjui]

Bitcoin is great hoard in this time. It is modern world and it is new digital currency. There are many plans for future that it will be source of payment in future so it is hoard we should buy and hold Bitcoin for survive in future.

[perfect999]

Just the price history is more than enough to make one realise why people hoard bitcoin. The value of bitcoin has grown with time for different reasons. In around ten years time what it has reached in terms of growth is massive, apart from that is the adoption and widespread. It isn't like any other form of business, because there is no big promotion through advertisement. Everything happened through the people who started to use and this shows the growth is real.

We have too many reasons for this because currently its use is going through in very few things but in future as its spreading use case can improve and many features and developments also coming which will help to increase your income and profit right now mostly peoples doing just holding for future as they feel surely.

It's going to give very good profit in many countries already use case is spreading, and they are paying bills and buying many things but still issues for less developing countries, but recently we have some good announcements which are bringing good signals and better hopes for more users and new investors will join, and we will be able to do many more things which are not possible right now.