Why hoard Bitcoin?

[Mpamaegbu]

~snipped~

I think it's even derogatory using hoard for Bitcoin. The right word should constantly remain "Hodl".

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[PhucS]

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.

Right. I agree with your opinion. The majority of people invest and hold Bitcoin for the long term because of its value. In the future, the value of Bitcoin can go up very high, so they can have huge profits. As you said, eventually, people will still exchange it for fiat, only a few people will continue to hold it for the value of buying and selling goods and services.

[Vaculin]

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

But I'd never we should have to do that as the benefits are less. I'm not pointing to making a profit but I'm pointing out how the market moves and retains its volatility (rather than being controlled) if all investors are only hoarding, I think selling is a part of crypto development. Might be some people accumulating Bitcoin now but it was possible that they will sell them in the next few days as that was the reality of crypto investment.

[slaman29]

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.

That's actually fake news IMHO. We do read a lot about people able to pay for things with Bitcoin, pay bills, settle real estate etc. But in reality ask anyone who has BTC and most of them are like that (or like me). Yes I do buy things with BTC but 90% of the time I'm selling it for fiat and then using it to pay for things. It's just more manageable in this way.

And if you ask me, and others I'm sure we'd love to hoard much more than we sell, if we had a choice. Reality is often very different from media and from what people say.

When was YOUR last BTC purchase for example?

[dimonstration]

But I'd never we should have to do that as the benefits are less. I'm not pointing to making a profit but I'm pointing out how the market moves and retains its volatility (rather than being controlled) if all investors are only hoarding, I think selling is a part of crypto development. Might be some people accumulating Bitcoin now but it was possible that they will sell them in the next few days as that was the reality of crypto investment.

There is a need to sell to mke the sense oftrading happens. The way others able to earn is wen thre are investors who will sells it and they will be able t buy it at a lower price. If there is no chace that theprice of BTC to move in a dump and pump movement, theexcitement of trading it wil be at lost it will just look like a simple currency with almost fix value. Hoarding is only good if not all traders and invstors will d it. There are traders wo are abl to earn more in trading it than hoarding.

[jossiel]

That's actually fake news IMHO. We do read a lot about people able to pay for things with Bitcoin, pay bills, settle real estate etc. But in reality ask anyone who has BTC and most of them are like that (or like me). Yes I do buy things with BTC but 90% of the time I'm selling it for fiat and then using it to pay for things. It's just more manageable in this way.

And if you ask me, and others I'm sure we'd love to hoard much more than we sell, if we had a choice. Reality is often very different from media and from what people say.

When was YOUR last BTC purchase for example?

Sometimes there is no choice but to sell if there's a call of need.

But, I'll choose to hold more than what I sell and as much as possible, those sold bitcoins that I've got, I'll do something to recover them at least so that I'll have a better position if another bull run comes.

[Twinkledoe]

That's actually fake news IMHO. We do read a lot about people able to pay for things with Bitcoin, pay bills, settle real estate etc. But in reality ask anyone who has BTC and most of them are like that (or like me). Yes I do buy things with BTC but 90% of the time I'm selling it for fiat and then using it to pay for things. It's just more manageable in this way.

And if you ask me, and others I'm sure we'd love to hoard much more than we sell, if we had a choice. Reality is often very different from media and from what people say.

When was YOUR last BTC purchase for example?

Sometimes there is no choice but to sell if there's a call of need.

But, I'll choose to hold more than what I sell and as much as possible, those sold bitcoins that I've got, I'll do something to recover them at least so that I'll have a better position if another bull run comes.

And I guess, that's true for a lot of us here especially during this pandemic. Some are here to earn money to supplement their basic needs. So what they do is convert whatever crypto they received to their local fiat and use it to pay bills or buy their necessities. Though a lot here also are still holding but I believe a large percentage are actually spending it to their needs. But definitely, if we have the choice, as much as possible, we want to hoard or hodl or whatever you call it. For the hope that one day, it will increase its value.

[bitzizzix]

That's actually fake news IMHO. We do read a lot about people able to pay for things with Bitcoin, pay bills, settle real estate etc. But in reality ask anyone who has BTC and most of them are like that (or like me). Yes I do buy things with BTC but 90% of the time I'm selling it for fiat and then using it to pay for things. It's just more manageable in this way.

And if you ask me, and others I'm sure we'd love to hoard much more than we sell, if we had a choice. Reality is often very different from media and from what people say.

When was YOUR last BTC purchase for example?

Sometimes there is no choice but to sell if there's a call of need.

But, I'll choose to hold more than what I sell and as much as possible, those sold bitcoins that I've got, I'll do something to recover them at least so that I'll have a better position if another bull run comes.

And I guess, that's true for a lot of us here especially during this pandemic. Some are here to earn money to supplement their basic needs. So what they do is convert whatever crypto they received to their local fiat and use it to pay bills or buy their necessities. Though a lot here also are still holding but I believe a large percentage are actually spending it to their needs. But definitely, if we have the choice, as much as possible, we want to hoard or hodl or whatever you call it. For the hope that one day, it will increase its value.

It all depends on the situation because I have bitcoins to use as a reserve fund and if I really need it and if I really need to sell some of my bitcoins due to an urgent need, I will.
the function of bitcoin for me is to help or solve their problems in finance and also the economy individually, although hoarding is the best way to generate bigger profits but don't let the existing problems go unresolved because of greed.
the important thing is to do as needed, and save the rest and keep making purchases as usual when prices drop again to cover previously issued holdings or exceed them.

[osasshem]

Bitcoin is becoming more and more expensive on a daily basis, and this is creating room for diversification of one's crypto interest, turning from Bitcoin to other altcoins out there in the market because those other coins are cheaper in price and the tendency of them rising is possible. To a point, when the margin of the demand for Bitcoin surpass the supply, then those with fractions will hoard, while those will bulk will sell to takeout profits.
When Bitcoin becomes scares another coin will take it's place as a trending and a more active coin in the market.

[titular]

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.

I would say the progress with the Lightning Network proves otherwise. Bitcoin accompanied by L2's has more than enough potential to become the hub of all transactions. I do not see this happening any time soon, but the potential is certainly there.

[Rufsilf]

Personally, I don't hoard bitcoins. But I do like to hold/store my assets instead of buying goods with crypto, or I'll just use a fiat currency to buy something.

Bitcoin nowadays is becoming more and more valuable so I plan on storing it or invest 70% of it and make multiple profits in the years to come. Only few people are making transcations using crpyto because some places doesn't offer bitcoin transactions.

[nullama]

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

You can always pay in Bitcoin, and then buy Bitcoin with fiat to replace it, effectively buying in fiat while keeping your Bitcoin savings.

Bitcoin unlocks your money.

[bitterguy28]

Personally, I don't hoard bitcoins. But I do like to hold/store my assets instead of buying goods with crypto, or I'll just use a fiat currency to buy something.

huh? i don't understand what you are saying here? you are holding/storing your asset? but not hoarding bitcoin and cryptos? and what is the care of community? when you are pointing Fiat?

Bitcoin nowadays is becoming more and more valuable so I plan on storing it or invest 70% of it and make multiple profits in the years to come. Only few people are making transcations using crpyto because some places doesn't offer bitcoin transactions.

What? are you fooling us here?

look you are not hoarding bitcoin but suddenly you are buying bitcoin?

[wiss19]

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.

If I’m given the option to pay with Bitcoin I don’t think I’m going to pay with it, I’m still going to continue making payments with Fiat. Everybody’s opinion differs, there are people who really wants to be able to be making payments of whatever they are buying with Bitcoin, but that's not me. I also consider Bitcoin as an asset just like you have said,and not a currency.

The only thing I know that I can be able to use it for is for some daily transactions that I make, that is only with friends who are also into Bitcoin and whenever I want to exchange with them or something like that. This is not something I do steady, it maybe just once in a month, because I mostly want to Hodl my coins.

[slaman29]

That's actually fake news IMHO. We do read a lot about people able to pay for things with Bitcoin, pay bills, settle real estate etc. But in reality ask anyone who has BTC and most of them are like that (or like me). Yes I do buy things with BTC but 90% of the time I'm selling it for fiat and then using it to pay for things. It's just more manageable in this way.

And if you ask me, and others I'm sure we'd love to hoard much more than we sell, if we had a choice. Reality is often very different from media and from what people say.

When was YOUR last BTC purchase for example?

Sometimes there is no choice but to sell if there's a call of need.

But, I'll choose to hold more than what I sell and as much as possible, those sold bitcoins that I've got, I'll do something to recover them at least so that I'll have a better position if another bull run comes.

I always respect people who also sell or use BTC to buy when they do have a choice to hoard. And we never give enough credit to them because THEY create the real economic demand (trading and speculating does not, since all alts also have the same volumes if not more). In fact, people seem to make fun of those guys and talk about their "regret" not knowing we should thank them.

Anyway, back to the topic, even you admit you'll hold, as have I. So as I said, in my original reply, it's a lot of fake news when you see people are rushing to pay for stuff with BTC.

[Sayeds56]

Bitcoin becomes valuable, which means that people don't like using it as a currency and instead prefer to use it for long-term gain. Bitcoin hoarding is the best way to help the economy Cryptocurrency development. It can be beneficial in the short term to help increase the price by taking those coins out of circulation, and not dumping this will cause the price of BTC to go up.

You should buy Bitcoin and hold it because it is worth holding. It has shown tremendous growth during the past 12 yeaqrs which no other asset can match. People became Millionaire who had faith in this precious Digital asset and it continues to grow. It is anti inflationary and unlike fiat it can not be4 printed more than 21 Million so in coming months and years it will reward its investors with huge gains.

[Theones]

You should buy Bitcoin and hold it because it is worth holding. It has shown tremendous growth during the past 12 yeaqrs which no other asset can match. People became Millionaire who had faith in this precious Digital asset and it continues to grow. It is anti inflationary and unlike fiat it can not be4 printed more than 21 Million so in coming months and years it will reward its investors with huge gains.

Its all about patience and faith in BTC, those who have both these have no-doubt earn a lot from BTC. For instance, BTC went down to 40k as soon as news broke out that China has introduced new legislation on crypto. But soon after BTC recovered and now standing at 47k. Those who have faith and patience bought BTC at 40k and must having a party now.
No to forget people who bought BTC at 10k in start of this year.

[jossiel]

That's actually fake news IMHO. We do read a lot about people able to pay for things with Bitcoin, pay bills, settle real estate etc. But in reality ask anyone who has BTC and most of them are like that (or like me). Yes I do buy things with BTC but 90% of the time I'm selling it for fiat and then using it to pay for things. It's just more manageable in this way.

And if you ask me, and others I'm sure we'd love to hoard much more than we sell, if we had a choice. Reality is often very different from media and from what people say.

When was YOUR last BTC purchase for example?

Sometimes there is no choice but to sell if there's a call of need.

But, I'll choose to hold more than what I sell and as much as possible, those sold bitcoins that I've got, I'll do something to recover them at least so that I'll have a better position if another bull run comes.

And I guess, that's true for a lot of us here especially during this pandemic. Some are here to earn money to supplement their basic needs. So what they do is convert whatever crypto they received to their local fiat and use it to pay bills or buy their necessities. Though a lot here also are still holding but I believe a large percentage are actually spending it to their needs. But definitely, if we have the choice, as much as possible, we want to hoard or hodl or whatever you call it. For the hope that one day, it will increase its value.

It is the actual situation of many. I've read many stories that they have to do that because for the sake of need and they have no option.

With the pandemic hit, their savings were no longer there and they have to touch their saved bitcoins just to survive.

[OrangeII]

everyone has their own thoughts about bitcoin. however, some scope of coverage I know is that many people are confused whether bitcoin is a currency or an investment tool. in my opinion, for those who hoard, or hold bitcoin little by little, they think that bitcoin is an investment tool or asset that can have a high price in the future. so that's why they hoard bitcoin.  I think everyone has the same thought on this. However, to buy something, I also prefer to use the fiat I have instead of using the crypto I have stored.

[riso2015]

I keep bitcoins because I believe the value of the money will increase and so far this has been proven. In fact, I prefer to save money in bitcoin rather than our local bank, because if the local bank money will not increase and there is often a monthly fee deduction. So I believe bitcoin to be a good storage so far in my opinion.