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
Since we are into like treating Bitcoin as an investment instead of using it as a currency for payments or buying of stuff I think it would be nice if we hodl 50% for future preferrences and then use the remaining 50% for something that we can buy or pay online. I actually did the same hoarding and using Bitcoins to buy prepaid loads or whatever that I like to buy online that accepts Bitcoin payment. Since it's so hard to find offline merchants here in my country for my basic needs I need to convert it to fiat. 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