Quote from: Whitehouse on July 28, 2015, 06:31:51 PM

Quote from: Kprawn on July 28, 2015, 06:15:28 AM

Hoarding is sooo boring though.. I do not feel part of the action, when I am not doing something with some of my coins. Take the leap and trade a small percentage of your coins. {Say 20%}

A friend of mine, bought some bitcoins, to experiment and "play" as he put it. He started with 1 BTC and traded his way up to 8.4 BTC within a year. The highest interest he could get from banks for that amount

was +/- 6% for that same period. Trading BTC is becoming an obsession with him now, and I constantly warn him to keep a little back, from the profits he makes as a trader.

It's not boring to me. I like knowing I've got a nest egg and it is fun watching them fluctuate and I think it's good to save. I can't wait to spend them but feel bitcoin has a long way to go before it reaches its potential so will keep on saving them until bitcoin is at a point where I can actually buy things I want.

Quote from: Beliathon on July 28, 2015, 03:51:58 PM

Quote from: LiteCoinGuy on July 28, 2015, 03:25:02 PM

By just sitting on your coins, instead of using them, Bitcoin won't grow!

That is a myth, sir, and I mean to slay it!

Wealth held in bitcoin represents wealth that was formerly held in fiat. Every satoshi - every cent - makes the network stronger and more valuable. We're growing a baby black hole here, the more mass we feed it the bigger the event horizon. In other words, HOLDING IS GOOD FOR BITCOIN AND DEADLY TO FIAT!

Exactly. It's basic supply and demand. Take more coins out of circulation and the value goes up. Don't some diamond companies hoard lots of diamonds in an attempt to push the price up? I think this is the same.

I fully agree its important to spend coins. Don't spend your stash. Just spend small amounts and replenish them.
If everyone was a speculator and no one actually used Bitcoin for commerce, I don't think that would be good
for the fundamentals of the coin and would therefore hurt the coin. It's a bit insane to say "yeah, Bitcoin worldwide adoption!"
and then also say "yeah but no one really needs to use it."