Quote from: BTCforJoe on August 09, 2018, 05:01:47 AM

I plan on writing more on topic about this, but to anyone that argues that Satoshi's vision was to create Bitcoin to be a currency and not an asset... Sorry, but that's not a valid argument to use to implicate that Bitcoin should be used solely as a currency.

Take actual fiat currency, for example. It's made (literally) as a currency. Does that mean I need to spend it all and not hold any in savings, stocks, bonds, 401k, etc.? Just because Satoshi's vision of Bitcoin was intended to operate as a currency doesn't mean that we can't HODL, and I think it's about time everyone stopped using this as an argument as to what's slowing down Bitcoin's progress. Roll Eyes

That's different, you use your "paper currency" /which is a big part digital now/ for the day-life expenses.
You have savings for sure, like the saving account, pension fond etc., but all those money are in circulation too, they are not stored somewhere for a long period/of course if you don't keep them in the "jar bank" under your bed/.

We are talking about banks now. The money in your "saving account" are not actually there, if you go one day and withdraw all the money, it's OK, the bank can handle it, but if all the customers will withdraw their money at once, the bank most likely will be bankrupted, because all those money they have on paper are not actually there, they are in circulation, the bank operate with them, even if you think they are there.

Now back to Bitcoin. If everyone is HODLing for the Moon, when the "currency" is not globally accepted yet, and we have a certain supply + you cannot "print" more just for the obvious reason, then the currency here becomes more an asset.

At the moment the global vision on bitcoin is just a tool to make you rich if you can HODL it long enough.
There always will be whales trying to crash the price to buy more and sell later so huge part of the current supply of bitcoin is blocked due to different reasons.
the main two /three/ are:
- The HODLers /including me/
- LOST keys/passwords
- Satoshi's stash /can belong to both above/

The rest in circulation is just a tiny amount of the total supply. The miners are the ones that are keeping the market alive, paying for new hardware, electricity, loans etc.

I think we have to find a way to change this trend, put a stick in the wheel to escape this closed circle.