Why Hoard Bitcoin?

[GiftedMAN]

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?

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[Poker Player]

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's just that "better" as you use it in this context is very imprecise. Bitcoin is more valuable than fiat currencies, it is a currency that has to appreciate and fiat currencies tend to depreciate. So if you have to make an expense, what are you going to do, spend the good currency (Bitcoin) and save the fiat currency? What you would do in that case is to impoverish yourself. If, on the other hand, you spend the bad currency and save the Bitcoin you will tend to get richer.

[so98nn]

Well bitcoin is limited in number. The last unit you can hold or break down the bitcoin is one satoshi. The price can only gain if there are more investments into it, like more peeps buy it and hold it the more demand it has throughout the community.

In case of fiat, the supply is corrected when its needed. There is continuous printing of the money as we loose the money through trades, physical damage to the notes, coins etc. The supply can be restored.

However, bitcoin does not have that liberty.

Everyone anyways use it to buy and sell, but with limited sources to spend its more or less investment asset these days.

[NeuroticFish]

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?

Not necessarily "not for hoarding". In all the regions the local currency has high inflation people hoard EUR and USD basically as the easiest investment. Bitcoin price has been proven to be increasing greatly over time even against EUR and USD, even more against other local currencies. So it's not unnatural at all to see people (and companies too!) just hoard Bitcoin like they'd be hoarding gold.

Indeed, it would be a shame if people would be using Bitcoin only as investment (and no longer as currency), but it would not be a surprising move.

[mk4]

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.

[fzkto]

No problem. You can spend your money buying bitcoins and then spend your bitcoins. That way you will see the value of not only fiat money but also bitcoin, if you think the value is only in use. Really, don't be surprised in a few years when you realise that instead of one iPhone you could have bought several MacBooks.

[Jawhead999]

Let me ask you, are you not saving your fiat on banks and use all your money in once? Obviously you're saving some part of your wages on your banks and use some part to pay daily expenses. This similar like Bitcoin, you can either use as currency to pay your daily expenses (if your country accept it) and holding the most part as investment. The problem is many country still ban Bitcoin and most of store doesn't accept Bitcoin yet. If many stores already accept Bitcoin, it will encourage people to use as a currency.

[Jeralhong]

First of all, you must understand what currency is, and the essence of currency is collateral.
The biggest possibility for Bitcoin in the future is a store of value, and its status is equivalent to gold in the current monetary system because it is quantitative.
The currency in circulation, taking into account the annual economic growth and currency loss issues, will be a slightly inflationary currency,Like Dogecoin. This is also the fundamental reason why Musk is bullish on Dogecoin.
But in two decades, Bitcoin is still the best investment, bar none. Because it grabs the currency issuance rights of the central banks of various countries.

[TheNineClub]

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?

Well, firstly, it's definitely not better than FIAT at this point if anything than for it not being as widely accessible as FIAT is. It might become that in the future, but it definitely is not there yet, so there could be the answer to why people hoard BTC, they are just waiting for it to become a regular paying method.

The second is that BTC is considered as a store of value like gold is, and people usually don't use it for transactions rather than storing and selling at an appropriate date as an investment. There are other coins that are much better suited for day-to-day transactions.

[worle1bm]

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 people it has now become speculative asset that they are holding for the future benefits due to returns along with it.People have seen the prices rising now and want to hold it for long so they can also get profits that's why you see it this way.

It is for sure better then fiat and same way you are holding your fiat and having savings in them the people wants to hold btc but it's not inflationary.

[Pmalek]

If you look at the historical value of Bitcoin, you will notice that in the long term, it becomes more and more valuable. It's very simple. If you have 100 units of paper notes (doesn't matter if its USD, EUR or something else), you are more likely to spend those. Why? Because next year or 10 years from now, the value of those notes will depreciate. That item that you bought for 100 units now costs 120 or more. With Bitcoin, it's the opposite. Something that cost 1 BTC years ago, now only costs 0.01 BTC. People are holding their coins because they are speculating that this trend will continue.

But there are also those who don't think like that at all and tend to use their bitcoins as currency whenever and wherever they can.

[Baofeng]

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?

Really up to the individual, he/she can spend the bitcoin they had to whatever purpose it might served them.

But there are individuals who just want to save it and be a holder for long term. Because bitcoin's history tells us that it will grow overtime and your money is safe + it will multiply as well. So it becomes a store of value, and obviously we have speculators and traders as well who trade it just like an asset.

[hugeblack]

If you follow the return on investing (ROI) from Bitcoin, you will find that it varies with time.
Investing a thousand dollars in 2012 and keeping it for 5 years is more profitable than buying a thousand dollars in 2017 and selling today.

I heard a story about a man who found 500 bitcoins^[1] in his old computer, this man is going to sell most of them now but at the same moment it may be someone who bought 500 bitcoins two years ago and thinks the current price is too low to sell.

In any case, cryptocurrencies are receptive and can achieve gains or losses, but the only constant is that paper money loses its value over time, and there is nothing that guarantees you that value.

[1] https://www.reddit.com/r/Bitcoin/comments/tgon69/dont_forget_to_check_old_laptops_for_bitcoin/

[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?

Well because holders store bitcoin to increase the value against dollar, each of us has free what to do on bitcoin, while others are hoarding and others are using it in trading, mode of payment, and investing. So regarding your question, it is up to you how do you will use bitcoin on your own. If storing value would make you happy to earn profit in bitcoin rather than using it as a mode of payment that is your own opinion. As long as many people embracing the beauty of bitcoin it will continuously increase.

[Marvelman]

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?

Yeah, that's right, money is best used for what it's meant for, and that's putting food on the table and paying for things.
But the thing is, just like with fiat currencies, some people generate surplus income from their work that they do not need to spend, so they put it into various forms of savings to accumulate interest. Bitcoin does not pay interest, but unlike the dollar and most other fiat currencies, its value generally increases over time. This is why many people prefer to keep bitcoin rather than the dollar or other currencies.

[Uang_kartal]

if we speak better, this is true, what I feel is bitcoin is an asset, yes an asset is something that can be owned in a context such as property in such a physical condition, if this fiat is nominal, it is only a different function of the exchange rate, the asset changes The norms that are the opposite of fiat and decentralized, in my opinion, are not a hindrance, but supply and demand violate the laws of inflation if in the fiat world in any country, transaction density and flow of entry and exit of a price on any exchange
If indeed Peer to peer can be done in my opinion, I can do such transactions too

[pooya87]

How do you even know what bitcoiners do? It is not like you asked every single one of us and we told you want we are doing! You just saw a small portion of the community and made a weak conclusion based on your limited vision.
If you try to expand your view and look at the whole picture you can see that there are all kinds of people using bitcoin for a lot of different things. What you can't do is tell how many people are in each category. But I promise you that there are a lot of people who see bitcoin as a tool to reach financial sovereignty.

As for why many people "hoard bitcoin", the reason is obvious because its price has been rising and it also has a lot of potential to keep on rising a lot more than this.

[cr1776]

Using the word "Hoard" tells a lot about your mindset.  Saving is a good thing.  Investing is a good thing.  Protecting yourself from crazy leaders around the world who don't like people being free to use their money as they see fit is a good thing.  And no one knows what "bitcoiners do" - you are merely speculating.

Money is useful however each person wants to use it.  That's the nature of a free ecosystem like bitcoin:  A may not like what B is doing and B may not like what A is doing but it isn't A's business or B's business what someone else does.  They each are free to use it as they see fit.

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?

[goldkingcoiner]

You say hoarding but its not really hoarding, is it? When it comes to money, that what you described is called "saving". Saving is smart. Hoarding is gathering up useless junk that you might one day need or not need. Its just being too attached to a thing to throw it away.

But again, this is money we are talking about. A new, upgraded and improved money. A third generation of money, you could say. So there is nothing wrong with saving up for when you need it.

Or do you consider the fiat you have in your bank as something you need to spend asap?

[Sebas.tian]

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?

People hold bitcoin for future purpose which has been helping people to become richer in the community, compared to fiat money that is control by the government and manage by the government in the areas of pumping and dumping. Bitcoin is the best used to buy and sell if you don't want to  hoard your bitcoin for long term, it will be easy for you to use them to buy goods and pay with your bitcoin. People have seen the value of bitcoin some years ago, that is giving them more confidence to be using bitcoin to purchase their products  or accepting bitcoin as a payment in their businesses in the country. People prefer to move with bitcoin to buy food items from the market than moving with fiat money that will not make their mind rest in the market.