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
This thread is encouraging people to hold bitcoins and i agree with it because it will help market price for bitcoin to increase. There is no better idea than giving FUD's to investors that will going to believe and will going to sell their bitcoin holdings because of false information widely spread among the FUDster's. I should hope that many will going to buy bitcoin and hold for now as the current market for bitcoin looks so bad. 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