Ninjastic
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Re: To the people who only see the downsides of HODLing Bitcoin
by
Wind_FURY
on 28/08/2024, 10:16:23 UTC
Quote from: betswift on August 27, 2024, 07:34:36 AM

Quote from: The Sceptical Chymist on August 26, 2024, 08:30:42 PM

Quote from: shield132 on August 07, 2024, 09:08:45 AM

If we hodl and do nothing, no good or service will be created and it will kill Bitcoin, hodling won't magically make it go to the moon.


I disagree, because I don't think most people actually use bitcoin to buy things, i.e., treat it like money--and yet here we are 15 years after its creation and it's value has skyrocketed and it's become about as mainstream as it's going to get.  So even if nobody spends it, it can still function as an asset like gold, a stock, or whatever.  And if I was back in 2010 looking at bitcoin's price today, I'd say it's already arrived at the moon.


And it won't stop there, the cycle would repeat itself, in my opinion. With BTC becoming even more mainstream and going to the Moon for us, people who are reading this at the moment Grin


But if an asset can be used as a currency/medium of exchange, then it will absolutely be used as a currency/medium of exchange. Although, with Bitcoin, it will be used as a currency more under those situations where its censorship-resistant properties will be more valued and useful. Those services like the Dark Markets, or the hacker Ransomware "market", or Russia's way to circumvent economic sanctions?

The dick pics and fart sounds market could come back again, but they will leave again. That "market" will never be as important as the functions that Bitcoin actually activates.