Why Hoard Bitcoin?

[tabas]

If Bitcoin is a better and higher currency than fiat, why then do bitcoiners hurdle it?

Because of the higher value and purchasing that it will posses in the future.
(....)

And also because of the limited supply of Bitcoin that will be generated over time, unlike with fiat, if you hold fiat instead of Bitcoin, you will lose a lot of opportunities and always remember about inflation which Bitcoins solves it.

Yes, along with having a supply limit, that adds to attribute of it for having a good value in the future which all of us are waiting for.

Basic economics, supply, and demand. That's why even how volatile Bitcoin people are still holding it, even how huge Bitcoin is dumping its price, people still choosing to buy more and hold.

And since it's also in the mainstream, that sums up the true value of bitcoin that we haven't seen yet. The true value could be the actual ceiling price of it maybe after the next few halvings that are about to come. To those that still don't have much bitcoin, do not give up and DCA it while the price hasn't reached 6 digits.

[Oluwa-btc]

Hoarding Bitcoin is somehow bad, this is because it reduces/ retards the flow or should I say the supply of money since Bitcoin is a currency.
Hoarding Bitcoin is also good because we watch and see it increasing in our wallet's, asides this, there are various benefits and merits of Bitcoin.
But I cannot say which of them surpasses the other.

[doomloop]

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 only say that it was better than fiat currencies (money) but they didn't say that they will be using their btc for spending because you know, btc has a different use too. Most uses it like an asset or as an investment to make a profit because btc value can fluctuate but more in an increasing side. This makes btc more valuable than spending it.

How can spending a btc be valuable if when you spend you are giving away your btc in exchange for items or something. Btc is in fact more valuable in most of the items that people spend on but except on the primary things that people need obviously.

[rby]

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 was proposed in the btc whitepaper as a currency that will solve the problem of not using a currency without the involvement of the third party. It was clearly proposed by Satoshi as a currency. Little did he (Satosh) know that btc will be more than a currency. One factor that changed the perception of people about btc is the limited supply. Some speculators knew that since the supply is limited, the value will keep increasing, that is why they hodl it for a very long time. And I fear that some people may not spend their bitcoin till no new btc will be in circulation.
This system of holding btc for a very long time made btc not to be only a currency as proposed by Satoshi. The bitcoin is now also an investment assets. People are seeing it as gold and other investment assets. That is why they keep holding it for a long time.
There is no doubt that btc is better anyday. What you control yourself is better than what people control for you.
In conclusion, bitcoin is seen as a currency and an assets and that is why it is been hoarded by many people.

[Odusko]

Bitcoin is not just a currency but also an asset that appreciates with time so most of the people holding Bitcoin are holding for the sole purpose of making profits from the currency as the price appreciates, Bitcoin is more valuable when it is held for a long time.
But then some use Bitcoin for transactions daily and also the traders who make hundreds of transactions in Bitcoin daily, bitcoin have much class of people who use it for different purposes.

[dothebeats]

It is intended to be spent yes, but the amount of channels and areas where it can be used to is lacking, hence why not a lot of people are enthusiastic in spending it. Also as of the moment, it excels as an asset, and a lot of entities are seeing it as an effective one, so why not use it on where it is good at?

Bitcoin's capacity as an asset is just better than its utility as a currency.

[Mahanton]

It is intended to be spent yes, but the amount of channels and areas where it can be used to is lacking, hence why not a lot of people are enthusiastic in spending it. Also as of the moment, it excels as an asset, and a lot of entities are seeing it as an effective one, so why not use it on where it is good at?

Bitcoin's capacity as an asset is just better than its utility as a currency.

Its someones investment and choice whether  they do make use of it as a currency or making out for circulation or would totally holding it out for future profits which it isnt surprising that someone
will really be deciding on not to spend those coins for some not worth things which if they could simply make or pay with their fiat then they would surely do it rather than on spending
a coin which does have potential on making big profits in near future in just simply holding it.Neither you could make use of it on the place on where you are residing or couldnt able to do so.
This is actually situational because not all would really be having the same impressions or mindset.

[GeorgeJohn]

From my observation, is like you are in hurry when making this post, i have gone through your profile it seems that you are learning, but try as you can to arrange your text before posting.

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 an asset and it may be hold by any investor until the target of the investor is due, so it's base on time frame, so in the aspect of Fiat currency, Fiat currency normally be hoard by people who have surplus, using fixed deposit as illustration through banking system, some people drop million in the bank for fixed deposit and they will be annual increase in addition to the deposited fiat, so when the time negotiated with bank is due,is when you can have access to it, so in summary, everything happening in crypto sphere is also applicable in fiat values unless you misunderstood their similarities.

[darkangel11]

It is intended to be spent yes, but the amount of channels and areas where it can be used to is lacking, hence why not a lot of people are enthusiastic in spending it. Also as of the moment, it excels as an asset, and a lot of entities are seeing it as an effective one, so why not use it on where it is good at?

Bitcoin's capacity as an asset is just better than its utility as a currency.

It's the basic law of economics that inflation makes people more eager to spend money, thus all fiat currencies are inflationary. Assets on the other hand often gain value and people keep them for a long time to save some of their wealth from inflation. Wealth they don't need at the moment but may need in 10 years or so and in 10 years with 5% inflation that would halve in value if kept in cash.

Bitcoin was made to be a currency but is so valuable that serves as an asset. It doesn't mean something is wrong with it. The public ultimately decides how it views things.

[Rufsilf]

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?

Fiat currencies are designed that way and to use it on daily basis, not for hoarding it because its value is deprecating yearly because of inflation. While bitcoin may be more volatile than fiats but its value is increasing as time goes by because its supply is only limited rather than fiats whos supply is increasing yearly and that's also the reason why bitcoin is good to hoard or save it.

[24Kt]

I think Bitcoin will grow a lot at some point. Then maybe everyone will regret a lot.I am depositing bitcoin in some way. I'm sure this bitcoin can be used anytime. I am now investing on Bitcoin instead of investing money on the other side.All my friends are making money by working in cryptocurrency but I am investing in cryptocurrency without making money.I know I will one day succeed here.

Why not diversify your portfolio so you won't regret if your expectations are not met? We can't tell that bitcoin or crypto will be very profitable in the future as it depends on various factors. In my case, I am also investing in gold in the form of jewelry, so I know, if anything comes worst in crypto, I have tangible asset to back-up my situation. Though we have different takes on this matter, but you need to widen your horizon so you are not stuck in one option only.

[peter0425]

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?

because of the concept the crypto world brings to the users , in which the word "HODL" represents .

People up to now believes that Holding is the best strategy for Bitcoin( and of  course to other currency) to make great return as they tend to keep it or Hoarding it without spending even a little part in which i believe hinders the opportunity of Bitcoin to be accepted worldwide .

[lienfaye]

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?

We know Bitcoin is not fully accepted as digital currency. Thus its not unusual if we cant directly spend it to buy goods or services that fiat can do. Even Bitcoin is more known today than before, many people are still not aware of Bitcoin's existence.

On the other side, Bitcoin is like a digital gold, valuable and profitable to hold for long term as an investment because of the unstable price. This is one of the reason why some users prefer to hold rather than spending it. If you know the history of Bitcoin and the early price, you'll understand why.

We're not saying its a guarantee to gain because every investment has risk. But for users who believe in Bitcoin, holding is a wise decision.

[darewaller]

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.

The greatest reason for me is the fact that bitcoin is definitely a better method to save my "wealth". I mean it would be awesome if I could spend it as well but there is no scenario where I can pay my bills, go to cinema, buy groceries with bitcoin just yet. One day that will surely happen as well, not going to be anytime soon globally, but there are few places that started doing it so I am assuming it should be fine. Aside from that, I believe that it shouldn't really be a problem at all.

I believe that we could technically go for more of an investment and trying to protect the money we have right now and not lose it against the inflation.

[Reatim]

I think Bitcoin will grow a lot at some point. Then maybe everyone will regret a lot.I am depositing bitcoin in some way. I'm sure this bitcoin can be used anytime. I am now investing on Bitcoin instead of investing money on the other side.All my friends are making money by working in cryptocurrency but I am investing in cryptocurrency without making money.I know I will one day succeed here.

Bitcoin will always be the best investment ever we knew and there are nothing i can choose to rest my funds for the future of my family and love ones and yes  I am pro in Hoarding bitcoin and won't let my funds sit in any places .

Maybe because bitcoin is limited in nature, unlike currency in general and that's why bitcoiners prefer to hoard it. If bitcoins are shared equally among all people in the world, is it possible to do daily transactions? Unlike gold, gold can be hoarded or used as currency, because gold can still be produced or mined from nature, even though the amount is increasingly limited.

we are all here in crypto and specially in Bitcoin that is what the reason why  there are so many people hoarding Bitcoin Nowadays .

[dunfida]

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.

The greatest reason for me is the fact that bitcoin is definitely a better method to save my "wealth". I mean it would be awesome if I could spend it as well but there is no scenario where I can pay my bills, go to cinema, buy groceries with bitcoin just yet. One day that will surely happen as well, not going to be anytime soon globally, but there are few places that started doing it so I am assuming it should be fine. Aside from that, I believe that it shouldn't really be a problem at all.

I believe that we could technically go for more of an investment and trying to protect the money we have right now and not lose it against the inflation.

Adoption and recognition is on the move even though we arent able to make use of our coins directly but somewhat there are services which could make things possible but of course that would be touching 3rd party

again which is something that people doesnt like.They do really love to have that p2p manner.Hoarding up bitcoin neither be intending for the sake of profits in future or would typically be supporting it in speaking

with actual relevance and utility.We do have our own personal perceptions and impressions towards it so its not actually surprising.

[ChiBitCTy]

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.

[wozzek23]

Do you ever check the daily trading volume of Bitcoin? If you do check it you would know that there are lots of people who are using bitcoin to make transactions everyday or buying and selling. Of course there are many people these days who feel it is best for them to just hold their bitcoin because they are trying to save value.

It is a matter of choice whatever you feel is best for you to do with your bitcoin, then it is best that you do that. And majority of the transactions that we do these days are mostly with Fiat.

I take myself as an example because where I live you wouldn't see anybody who is accepting bitcoin or any cryptocurrency at all for payment. The only way you’ll be able to find someone accepting cryptocurrency for payment is through online and even online you would really find it hard. So I mostly use bitcoin to save value for myself, which is indeed a good thing to do, but also because I have less options to spend it.

[wiss19]

In addition to being used to buy and sell, bitcoin like gold and other currencies, their value will change according to demand. As we have seen bitcoin has increased tens of thousands of times in value since it was created till now, and we have the same desire that the price of bitcoin will increase even more. So it is not difficult to understand when people will accumulate bitcoins instead of using them for daily exchange.

Yes, most people will definitely choose to hold their bitcoin instead of using it for daily transactions. If you are steady using your bitcoins for daily transactions you are going to lose them and it might even be at the time  the market will increase in value and you end up missing out from the profit you would have made if you just held your bitcoins in your wallet. So, it is clear that most people who hold their bitcoins are doing so because of the profit that they expect from it.

It is also good for transactions and I do see a lot of people that are using it to make transactions especially when it has to do with sending money abroad. Banks are not really a good choice these days for anyone that wants to make transaction to someone that is living over in another country. The delay and the fees you  have to pay for the transactions is really much compared to using bitcoin and having the transaction made within a minute and also paying less fee.

[Kasabus]

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.

As long as fiat exists, bitcoin will always be a good store of value. Otherwise, spending it simply means you will miss the chances to be more profitable when its value even grows more. However, some people use it as a currency because its certainly its real purpose. Well, sometimes you also have to spend it especially if you run out in fiat, but in most cases, if you want to be more sustainable in making profits, spending bitcoin while its value is increasing is never a good idea. Spend fiat but always keep bitcoin for long term investment.