Post
Topic
Board Bitcoin Discussion
Re: People are underutilizing Bitcoin
by
panganib999
on 11/11/2019, 18:01:24 UTC
People need to start accepting Bitcoin and keeping it, not converting it.
you should have said "continued using it" instead of keeping because if they keep it, it sounds like HODLing and that is not doing anything.

in any case this problem has always been with bitcoin. the price rise alone makes people want to "invest" in bitcoin instead of seeing it as a currency. that is why so many people are calling it store of value these days instead of a currency.

Quote
If you think of Bitcoin as just a virtual placeholder for fiat currency, stable coins will be the future and Bitcoin will slowly fade away.
Thoughts?
not unless someone finally comes up with some actually decentralized stable coin otherwise centralized ones are not even close to being 0.001% useful as bitcoin!

Hodling cryptocurrency actually does help. People are holding it because it has value to them. "worth" is given when something is valuable to someone.

I could sell someone a rock for $100,000 if they find "worth" and have the resources to purchase it.

If someone is willing to hold a bitcoin and not get rid of it because it has "worth" to them, then I am all for that.




Yes, HODLing could help someone individually considering their so called worth of it, but it doesn't really doing any help toward Bitcoin's economy. Hodling is non-sense and all it does is to limits the growth potential and adoption of bitcoin, and if you're part of the crypto space you should consider looking at the bigger picture before deciding because whatever you do within the community will surely affect you eventually, So instead of hodling, for us to be able to create an economy that fosters adoption and help the network grow we should practice      spend and replace strategy. For instance, buying $25 worth of BCH online, then use fiat in buying $50 worth of BCH to replace what had been spent.