Why Hoard Bitcoin?

[JayTrain]

If we draw a parallel between the creation of bitcoin and today, we will see a huge growth over the years, so many accumulate bitcoin with the prospect of growth, and any fiat currency has properties to depreciate over time, so many people see bitcoin as a reliable and stable cryptocurrency from inflation.

[Vaculin]

It's pretty simple — because some people think that it will be far more valuable in the future; not to mention that in it's current state, bitcoin isn't that widely accepted for payments just yet.

Also, not everyone is sold on the BTC as a currency concept; some people just look at it as a decentralized asset like a digital version of gold.

But for us, we know that bitcoin will be very expensive in the years to come so as much as possible, we will maximize hoarding bitcoin. And its a good thing really that most of the countries are not legalizing bitcoin yet because when that happens, bitcoin can already be used to buy and sell like a usual fiat. And people will more likely to spend it and will miss everything about bitcoin's higher value in the future.

[Sebas.tian]

If we draw a parallel between the creation of bitcoin and today, we will see a huge growth over the years, so many accumulate bitcoin with the prospect of growth, and any fiat currency has properties to depreciate over time, so many people see bitcoin as a reliable and stable cryptocurrency from inflation.

Yes, the parallel has showed massive growth of bitcoin from the creation till date. Many people weakness the massive growth of bitcoin during the pandemic that took over 2 years and some  months where fiat money was depreciated at the moment which was causing bitcoin a serious pumping through out the period. People began to see bitcoin as a reliable and stable coin to invest a huge amount of capital to remain in profit making in the community. Many people sustain from the inflation through bitcoin investment because the price of bitcoin was so stable for long term holders to recover all their losses.

[Rockstarguy]

If Bitcoin is a better and higher currency than fiat, why then do bitcoiners hurdle it?
I think money is best used for buying and selling not hoarding, we get to see the value more when using it.
This my thoughts, wby?

For sure Bitcoin is better than fiat while holding Bitcoin it add value.  Even if you hold your fiat it won't appreciate instead fiat depreciate. Apart from using the fiat for buying and selling people still save it in the banks just as holding Bitcoin but it does not have good reasonable profit. Instead of me keeping my money in the bank I will rather convert it to Bitcoin and hold it , its very certain their will be profit.

[qwertyup23]

If Bitcoin is a better and higher currency than fiat, why then do bitcoiners hurdle it?
I think money is best used for buying and selling not hoarding, we get to see the value more when using it.
This my thoughts, wby?

First and foremost, there seems to be a flaw on your first statement. Bitcoin is definitely not better than fiat; and fiat is not better than bitcoin. Both can co-exist as they have their respective functions depending on the transactions. Since fiat is the universally accepted currency in the world, countries accept and view it as such which makes it legal. BTC, on the other hand, has some sort of regulation where other countries are constrained to prohibit or limit its transactions.

With regard to the question, BTC can be considered as a good store-of-value investment due to its inflationary value. By basing it primarily on the price history index, you will see that its price skyrocketed and increased more than 1000% of its original value.

Again if you are looking for a long-term investment, then it is highly advisable to invest in cryptocurrencies.

[xSkylarx]

If Bitcoin is a better and higher currency than fiat, why then do bitcoiners hurdle it?
I think money is best used for buying and selling not hoarding, we get to see the value more when using it.
This my thoughts, wby?

When it comes to real life, I believe the best example is when people buy land because the value increases over time. In the case of bitcoin, people hoard it because they can afford it now and will benefit greatly when its value increases significantly later on in the future. The majority of the time, it is for financial gain, but it can also be for humanitarian reasons, such as food in a foodstore that is being hoarded now because the price will rise next week. Even so, banks are not advising us to keep money in our piggy banks because of the economic cycle, and this is true for bitcoin as well.

[Ale88]

If Bitcoin is a better and higher currency than fiat, why then do bitcoiners hurdle it?
I think money is best used for buying and selling not hoarding, we get to see the value more when using it.
This my thoughts, wby?

Bitcoin is becoming also a store of value against the inflation, which is pretty high now after all the money they printed during the pandemic. Also bitcoin is not very common yet as payment method, this kind of things take time. Back in the '90s you could send an email if you wanted, but few people were using it so fax and mails were more used. With bitcoin will happen the same, we just need to wait.

[pawanjain]

If Bitcoin is a better and higher currency than fiat, why then do bitcoiners hurdle it?
I think money is best used for buying and selling not hoarding, we get to see the value more when using it.
This my thoughts, wby?

This is basically because bitcoin currently serves two purposes. One is to act as a currency for payments and the other is to act as a tradable asset.
The reason why people hoard bitcoin is because they treat is an asset which has high increasing value.
There are others who don't hoard bitcoin and rather spend it for payments because they treat it as a currency for method of payment.
There's no right or wrong here and it's just how a multi-value coin behaves I guess.

[barbara44]

I am in agreement with you. So often I hear people using the phrase “HODL”, which I of course think just like with any money that you should “stack” it, but money is also meant to be used to purchase goods and services and I think this is another way to garner mass adoption.

We can stack money but its value can decline. It doesn't make sense to stack it but why not stack btc instead? because btc value cant depreciate but it only can become valuable in the long run and of course we shall spend our btc too sometimes because this is the true meaning of btc for spending but is there a hodler that hodl's forever and for what purpose they are doing it? there is some point of their lives that they will decide to sell their btc for profit or spend them on some item directly.

Spending btc can indeed help the adoption because others will get curious if you use your btc to buy stuff and they will use btc too later on but first we need to wait for our country to make btc as a legal tender.

[LogitechMouse]

If Bitcoin is a better and higher currency than fiat, why then do bitcoiners hurdle it?
I think money is best used for buying and selling not hoarding, we get to see the value more when using it.
This my thoughts, wby?

Its because they see it as an investment and they believe that if they will hold some of it, it will yield them some profits.
Its kinda disappointing that Bitcoin sees by most of the investors as an investment rather than a currency but there is nothing we can do since its pretty obvious that Bitcoin is going upwards all throughout the whole 13 years of its existence.

Bitcoin right  now is more of a store of value rather than a currency (main purpose). Not many stores are accepting Bitcoin too that is why holders tend to just hold it maybe to give profit to them or to be used in the future to buy something.

[Kelvinid]

If Bitcoin is a better and higher currency than fiat, why then do bitcoiners hurdle it?
I think money is best used for buying and selling not hoarding, we get to see the value more when using it.
This my thoughts, wby?

They hold Bitcoin not because they can't spend it and use it for purchasing goods and others but people are seeing this as a valuable asset like gold that is valued more in the future. If only possible that it was accepted as currency wherever we go, that possible people will use this then instead of fiat. But people never see it and it happens to see that the price is increasing making people consider that holding gives them more benefits over fiat where it surely depreciated.

[Ryker1]

If Bitcoin is a better and higher currency than fiat, why then do bitcoiners hurdle it?
I think money is best used for buying and selling not hoarding, we get to see the value more when using it.
This my thoughts, wby?

Its because they see it as an investment and they believe that if they will hold some of it, it will yield them some profits.
Its kinda disappointing that Bitcoin sees by most of the investors as an investment rather than a currency but there is nothing we can do since its pretty obvious that Bitcoin is going upwards all throughout the whole 13 years of its existence.

Bitcoin right  now is more of a store of value rather than a currency (main purpose). Not many stores are accepting Bitcoin too that is why holders tend to just hold it maybe to give profit to them or to be used in the future to buy something.

Well it does matter if everyone wants to hold or use it in a transaction, as long as bitcoin has gained mass adoption, the value could be increased and surely will get the benefit. This is because the investors want to hold for a value and to have profit, there are so many bitcoin hoarders who are waiting at the right time when they will have a profit. However, we have a right to whatever we do on our bitcoin, either you will choose to spend or to store value and it is up to you. But the chances of accumulating while it is cheap will perhaps you will be misled.

[Fatunad]

If Bitcoin is a better and higher currency than fiat, why then do bitcoiners hurdle it?
I think money is best used for buying and selling not hoarding, we get to see the value more when using it.
This my thoughts, wby?

Its because they see it as an investment and they believe that if they will hold some of it, it will yield them some profits.
Its kinda disappointing that Bitcoin sees by most of the investors as an investment rather than a currency but there is nothing we can do since its pretty obvious that Bitcoin is going upwards all throughout the whole 13 years of its existence.

Bitcoin right  now is more of a store of value rather than a currency (main purpose). Not many stores are accepting Bitcoin too that is why holders tend to just hold it maybe to give profit to them or to be used in the future to buy something.

Well it does matter if everyone wants to hold or use it in a transaction, as long as bitcoin has gained mass adoption, the value could be increased and surely will get the benefit. This is because the investors want to hold for a value and to have profit, there are so many bitcoin hoarders who are waiting at the right time when they will have a profit. However, we have a right to whatever we do on our bitcoin, either you will choose to spend or to store value and it is up to you. But the chances of accumulating while it is cheap will perhaps you will be misled.

Some would really be minding about circulation but majority would really be minding about long term recognition or adoption which some are really focused on.
Speaking of hoarding then this is usually pertaining about long term profits which we know that high chances that it could really happen basing off with the potential that it does have.
So its a persona preference whether you do hold or actively spend it on various things but it is just common sense that we do need to make more profits.

[fuguebtc]

If Bitcoin is a better and higher currency than fiat, why then do bitcoiners hurdle it?
I think money is best used for buying and selling not hoarding, we get to see the value more when using it.
This my thoughts, wby?

It depends on your usage needs, buying and selling still happens every day with bitcoin.

Most people try to accumulate bitcoins for themselves instead of trading because they are saving for the future. Looking at bitcoin history, you will see that the value of bitcoin relative to fiat has increased thousands of times while fiat is still depreciating day by day. So the best way to increase wealth and protect it from increasing inflation holding bitcoin is a great idea.

[Tellek Garing]

To understand the functions of Bitcoin we must, first of all, know what Bitcoin is, and how it works.

Bitcoin is not just a currency for exchange but also an asset for holding this is why Bitcoin is referred to as the digital gold, in as much as we use Bitcoin to do our daily transactions if Bitcoin is held for a long time its value appreciate bit Bitcoin can never replace fiat currency and will only perform the alternative function.

[titular]

Also, not everyone is sold on the BTC as a currency concept; some people just look at it as a decentralized asset like a digital version of gold.

I have a strong feeling many governments will do their best to keep bitcoin from being the primary medium of exchange. Their efforts will be in the name of their future CBDC. They can't have a successful digital currency when bitcoin and its LN is processing the majority of the transactions.

I think that bitcoin remains a strong store of value for the foreseeable future. However, I am not sure how long it will take for the 'medium of exchange' use case to truly take hold.

[Mauser]

If Bitcoin is a better and higher currency than fiat, why then do bitcoiners hurdle it?
I think money is best used for buying and selling not hoarding, we get to see the value more when using it.
This my thoughts, wby?

I think we need to distinguish between the money we need for our daily lives and the money we want to invest in. Our salaries usually come monthly and are paid in Fiat money, most of our bills like energy, water, gas, fuel, food and car insurance are being paid in Fiat also. For such payments inflation is not really an issue, money comes in monthly and is being paid monthly. The problem is with money we invest in. In the past there were savings account which over like 2-4% interest per year, covering the inflation rate. But now we have interest rates of 0% and inflation of more than 2%. It makes no sense to save in Fiat. Better to go for long term crypto currency investments.

[KennyR]

Also, not everyone is sold on the BTC as a currency concept; some people just look at it as a decentralized asset like a digital version of gold.

I have a strong feeling many governments will do their best to keep bitcoin from being the primary medium of exchange. Their efforts will be in the name of their future CBDC. They can't have a successful digital currency when bitcoin and its LN is processing the majority of the transactions.

Almost every country have got their teams creating CBDC. When it comes to CBDC, governments can control each and every activity happening within the network. The same isn't possible with bitcoin. Some countries prioritise bitcoin as reserve, but never intend to consider it a transaction asset. There were few CBDC projects in which few countries have got involved to make a common platform for cross border transaction between those countries. Another important reason for CBDC is to make taxation easier.

I think that bitcoin remains a strong store of value for the foreseeable future. However, I am not sure how long it will take for the 'medium of exchange' use case to truly take hold.

Bitcoin have got multiple usage access and the same makes it more of an investment and store of value than a medium of exchange. Even the common people aren't much into using it as a medium of exchange. The priority is for long term profiting.

[LUCKMCFLY]

The main reason for me to have BTC in accumulation mode is that since its last ATH was for almost $70ky this is something that gives the total motivation to accumulate all the necessary btc, and considering that BTC at any moment it can go up in price it is natural that there may be certain changes, either down or up, but at some point it will go up, and it is better to see BTC as an investment and at the same time as a savings, a savings that will give more privileges than a normal and traditional bank. At least I am sure that I will have a return greater than the 24% that a bank never gives annually.

[kamilah147]

all their bitcoiners are bitcoin-loving people, there's no way they can get in the way. use those bitcoins to invest and earn. the purpose of bitcoin is for financial freedom. everyone expects that, fiat is the ultimate goal of investing in bitcoin. I think the two have mutual equivalence.