Post
Topic
Board Bitcoin Discussion
Re: Andreas' current use of BTC
by
qwertyup23
on 31/10/2021, 06:07:37 UTC
I love Andreas Antonopoulos. Having said this, he recently said something in one episode of his podcast that surprised me. He was talking about living on Bitcoin and he said that he HODLs his BTC and basically spends only USD. He gets paid in all different fiat, and he spends this fiat for his daily life. When he can, he buys more BTC and HODL.

While I understand that many of us HODL, isn't this just wrong for the future of BTC. First, Satoshi created BTC as a currency. It is intended to be spent. Second, if everyone HODL and nobody spends BTC, isn't this becoming just a pyramid scheme?

I think most people took for granted the reason on why BTC was created. The power and innovation brought about by the blockchain technology is the star of the show as it removes the traditional third-party consensus in transactions. Bitcoin, on the other hand, is the currency which is used in circulation through the blockchain.

But if you were in his shoes, you would probably see BTC as a form of investment due to its trend that its price go higher as years passed by. Personally, I see BTC as an opportunity for long-term HODLing and as a short-term investment.