Quote from: Ilegendph on July 27, 2018, 01:59:07 PM

Quote from: OSEIBOATENG on July 07, 2018, 12:56:02 PM

I have been monitoring so many post about HODL! HODL!! HODL!!! I am a victim of that but I have sat down and analyzed something. We should all know what will happen when we all decide to HODL. This will be one of the deadliest that will ever happen in cryptocurrencies. When we all decide to HODL I think the markets will go down and the green markets we want will never com. Also BTC will die when we all decide to HODL. I think we can at the same time SELL and BUY to keep our greatest cryptocurrency alive. I stand to be corrected and also we can add some to it as to what will happen.

Its because no transaction would be done on the network of cryptocurrency specially bitcoin. Trading is one of the major factor why cryptocurrency has value and most of the time it dictates the price. The price would go down if no one would want to sell their assets at the current price because it will be useless since the major use of it is to transfer value from place to place or around the world. People would find another way to do it which is more cheaper. For the industry to grow, we need people that will actually use bitcoin for transactions like remittances and trading and not just to hold it. There is no company backing it up or product to sell because it is the product itself.

Yeah and that is the intrinsic value that needs to manifest in the coin itself. It will gain these kinds of attributes (and it probably already is) as more people see it as a useful way to bring money from one point to another and avoid ridiculous regulations or taxes while they're at it.

This is why bitcoin should not just be kept away like a rat stores its cheese. Sure, feel free to hold onto some of it like a savings account, and allow it to store up value. But if it gains, gains, gains, then maybe it means that it has to be used for something! Something useful!