Quote from: Frankolala on October 06, 2023, 09:39:51 PM

Quote from: Agbamoni on October 06, 2023, 08:40:58 PM

Quote from: Roseline492 on October 06, 2023, 05:41:51 PM

Quote from: Greyhats on October 06, 2023, 02:53:57 PM

… but not profitable for Bitcoin.

It’s this statement that I feel drawn too, falconer are you saying holders essentially minimize the utility of Btc and this is what is not good for BTC?

so perhaps holding doesn't affect Bitcoin instead it makes the price to increase the more

Technically your right my friend, but on the other hand holding will give it a store of value in which it, as it is now, will be utilized and traded for more usable currencies. If absolutely no one wants to trade, then the market is dead, and no value can be assigned to it. By calculation, price is given if a trade happens, and if no one place any trade order, there's no price.

You are getting the whole concept wrong mate, if nobody wants to sell their bitcoin and move their coins to a noncustodial wallet, doesn't mean that the market is dead. Instead, this will even make bitcoin price go higher because the quantity of bitcoin available for people to buy will be very little or none, which will make bitcoin more scarce and more valuable since it is rare to see or hard to buy. This makes every bitcoin more precious, and nobody will want to sell. The same thing applies with bitcoin halving, after every halving the bitcoin that will be mined will reduced 2x the previous amount making it to increase in value.

Take an example with gold, if it happens that everyone has gold and nobody 't want to sell wants to sell their gold, if a stranger comes to buy gold, and he confirms that everybody has but don't want to sell because they are hoarding it, if the stranger manage to see just one person that decides to sell for him, no matter how much the person calls the price, the stranger will buy it because he knows the important of gold and the reason why he is buying it.

Do you trade your bitcoin in the non-custodial wallet? This is reality if everyone decides not to trade their bitcoin, whereby there will be no sell order in all those exchanges. Read again mate i said this can't be possible especially when it comes to Bitcoin. Perhaps you don't really get what i mea buy a store of value.