Quote from: pitiflin on August 30, 2018, 10:39:09 PM

Quote from: Kakmakr on August 30, 2018, 07:38:04 AM

I see a lot of people that are hoarding 100% of their bitcoins, because they believe cutting off the supply, would be enough to increase the price.

Would it not be better, if we increased the demand by increasing Bitcoin awareness and convincing more merchants to offer Bitcoin payments?

A 100% hoarding strategy is more harmful, because it cancels all the good work that was done to get merchants to accept Bitcoin as a payment option. A merchant will stop accepting Bitcoin, if their is no demand or transactions being generated for their business from the Bitcoin payment side.

We should actively encourage local merchants to start accepting bitcoins and then we should start supporting them.

Just buy back the bitcoins that you spend and you will be fine or use money that you would not have hoarded and buy the goods or service with bitcoins.

Adopt a 80% hoarding and 20% spending strategy and we will see a massive increase in Bitcoin adoption Cool

That's not how things work. You can't just focus more on one thing. We don't live in a world that has perfectly elastic supply or a world of perfectly inelastic demand. This won't make sense to you,if you haven't learnt Economics.

If you focus on demand more, then we will be forced in a situation where demand drops and supply increases until they crossover at a point called equilibrium which would decide the equilibrium price and equilibrium quantity. Same applies to supply.

Crypto-economics is different than normal economics, so things can be more complicated than what I said.

Agreed 100%! It is indeed glaring to everyone how complex things are in this space and for the fact that most investors see it more as an investment and would rather hold than spend considering the level at which the value can reach eventually has made it more of a speculative asset than for it to be used as a currency.

We also cannot expect things to happen overnight, as all these things will be a gradual process until we achieve equilibrium, and this is where the idea of having a somewhat less volatile value will come in, but we all know it is actually not that easy and like you said, it is really easier said than done.