Please take a moment to get my point before you conclude. I know a lot of people judge a post by the topic alone and if that is applied to mine, I might be sounding anti-bitcoin since selling is highly demonized by a lot of people in this community.
Now the question is, assuming everyone who ever bough bitcoin is holding their bitcoin in their private wallets, what will be the fate of bitcoin and the bitcoin network? Does holding bitcoin strengthen the bitcoin network? If no, are those who sell and more their bitcoin on-chain generally doing bitcoin bad?
I believe in holding bitcoin and I'm actually holding some quantity and still buying. But a greater part of me feels that there should be more to bitcoin that just buying and holding in private wallet to gain some profits. I believe that bitcoin will be much more beautiful if a good number of human populations are using bitcoin for their daily lives and have real testimony that bitcoin actually made their lives better. We cannot achieve that if we only encourage people to buy and hold, can we?
I don't know if I have sounded so pessimistic towards bitcoin. From the depth of my heart, I want bitcoin to gain more utility than it has, the reason I made this post to seek opinion if there are people actually thinking in this direction or the right way of thinking about bitcoin is only HODL.
Bitcoin is in the process of monetization. To understand this, we first need to know what money is. Money has three main functions: a medium of exchange, a unit of account, and a store of value. Currently, Bitcoin functions primarily as a store of value, and over time, it is gradually adopting the other roles as well. This has been the path of every form of money throughout history it must first become a store of value before it can be used as a medium of exchange and a unit of account.
Because most people still don’t understand that Bitcoin is money. Many believe it’s some form of gambling, a fad, a bubble something that will eventually disappear or collapse. But as time goes on and as fiat currencies, which are designed to lose value, continue to depreciate more and more people will want to adopt Bitcoin as money, realizing it’s an excellent store of value.And that’s how Bitcoin will gradually start being used more widely as a medium of exchange