cuddaloreappu



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Hero MemberActivity: 756Merit: 502 HODL, HOARD your cypto GOLD! All Hail the Hoarders! February 08, 2015, 03:41:09 AM #1



Today I came across this Nakamoto institute article and I want to share my views and add to it..



http://nakamotoinstitute.org/mempool/im-hoarding-bitcoins-and-no-you-cant-have-any/



Who gained and who lost during these times?



Bitcoin comes under Distributed capitalism, which means we all have a role to play in bitcoin's success,



but a lot of people figure it very wrongly that bitcoin success depends on people actively spending all their bitcoin, buying them and then actively spend it all away , spread the word so that people come into the bitcoin world and bitcoin succeds as currency...



But it seems this model does not work for bitcoin to go mainstream



bitcoin related companies had huge venture capital investment, merchant adoption and news stories running everyday, but they all simply failed to help bitcoin even sustain the price and only contributed to bitcoin losing more than 80% of its value.



bitcoin only gained 1000x when these were not there!



What is really success for bitcoin?



An ideal success for bitcoin will be something around a million dollars per bitcoin, where the market cap is in trillions so that bitcoin will compete with petro dollar and become of use in high volume Forex trading..This is ideal success..



but we will never reach there with spending bitcoins but only by hodling or hoarding bitcoins..



who are those who promote spending and why you should ignore them?



They are mostly these merchant service processing companies and their clients and centralized bitcoin banks who like to see daily volume so that they make lot of money by cutting a part of your payment, getting bitcoins from you and then selling it for dollars. by this they are creating a selling pressure and thereby constantly make bitcoin price go down..it is clear they dont give a shit about bitcoin, or else why would they sell it for dollars, if they don't have the confidence..



Their companies are valued in millions and they are millionaires and they only will care about the growth of their company's market cap and not bitcoins market cap.



How do these people influence your mind?



These people have received millions of dollars to make people spend bitcoins, therefore they do all sorts of psychological manipulation to make you spend bitcoins..they make you feel bad if you hodl your bitcoin without spending by telling you that you are greedy, selfish, and that hodling bitcoin is bad if you do so..



after some years their companies will be valued in billions, they will become billionaires! but bitcoin will be caught in a price of 200-300$ forever and your life does not change!



But How does Hoarding bitcoins make it go to moon?



Yes! when a lot of people decide not to spend bitcoins the selling pressure goes down and bitcoin price will rise to moon and with any commodity that increases in price when it is hoarded!



bitcoin is often compared to internet early stage! now think how did dot com bubble happen and trillions were poured into internet? becuase people believed their investment would make them millionaires! that is what made internet a success!



similar trend is also seen in bitcoin! lot of interest in bitcoin whenever the price is increasing and no interest when the price is decreasing..

The google trend for bitcoin is an excellent proof of this phenomenon.









So if you want bitcoin to succeed! just hold your bitcoins! dont spend them around! you may feel sad and bad if the 200$ you spent could be worth 1000$ tomorrow and that you threw them away cheaply!



Hold! Hoard your crypto GOLD!









Bitcoin has lost more than 80% of its value this year! A lot of investors are worried about their losses, some has given up and some are confident of a great future and returns , with how bitcoin can change their lives..Today I came across this Nakamoto institute article and I want to share my views and add to it..Who gained and who lost during these times?Bitcoin comes under Distributed capitalism, which means we all have a role to play in bitcoin's success,but a lot of people figure it very wrongly that bitcoin success depends on people actively spending all their bitcoin, buying them and then actively spend it all away , spread the word so that people come into the bitcoin world and bitcoin succeds as currency...But it seems this model does not work for bitcoin to go mainstreambitcoin related companies had huge venture capital investment, merchant adoption and news stories running everyday, but they all simply failed to help bitcoin even sustain the price and only contributed to bitcoin losing more than 80% of its value.bitcoin only gained 1000x when these were not there!An ideal success for bitcoin will be something around a million dollars per bitcoin, where the market cap is in trillions so that bitcoin will compete with petro dollar and become of use in high volume Forex trading..This is ideal success..but we will never reach there with spending bitcoins but only by hodling or hoarding bitcoins..They are mostly these merchant service processing companies and their clients and centralized bitcoin banks who like to see daily volume so that they make lot of money by cutting a part of your payment, getting bitcoins from you and then selling it for dollars. by this they are creating a selling pressure and thereby constantly make bitcoin price go down..it is clear they dont give a shit about bitcoin, or else why would they sell it for dollars, if they don't have the confidence..Their companies are valued in millions and they are millionaires and they only will care about the growth of their company's market cap and not bitcoins market cap.These people have received millions of dollars to make people spend bitcoins, therefore they do all sorts of psychological manipulation to make you spend bitcoins..they make you feel bad if you hodl your bitcoin without spending by telling you that you are greedy, selfish, and that hodling bitcoin is bad if you do so..after some years their companies will be valued in billions, they will become billionaires! but bitcoin will be caught in a price of 200-300$ forever and your life does not change!Yes! when a lot of people decide not to spend bitcoins the selling pressure goes down and bitcoin price will rise to moon and with any commodity that increases in price when it is hoarded!bitcoin is often compared to internet early stage! now think how did dot com bubble happen and trillions were poured into internet? becuase people believed their investment would make them millionaires! that is what made internet a success!similar trend is also seen in bitcoin! lot of interest in bitcoin whenever the price is increasing and no interest when the price is decreasing..The google trend for bitcoin is an excellent proof of this phenomenon.So if you want bitcoin to succeed! just hold your bitcoins! dont spend them around! you may feel sad and bad if the 200$ you spent could be worth 1000$ tomorrow and that you threw them away cheaply!Hold! Hoard your crypto GOLD!

Jace



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Sr. MemberActivity: 288Merit: 250 Re: HODL, HOARD your cypto GOLD! All Hail the Hoarders! February 08, 2015, 09:18:00 AM #5 Quote from: cuddaloreappu on February 08, 2015, 03:41:09 AM So if you want bitcoin to succeed! just hold your bitcoins! dont spend them around! you may feel sad and bad if the 200$ you spent could be worth 1000$ tomorrow and that you threw them away cheaply!



No, no, NO! As a strong bullish long-term Bitcoin believer, I completely disagree



Even if you consider your bitcoins as long term investment, rather than spending money - what do you think will help raising the value of your precious bitcoins more:



1. Hodling your bitcoins and spending USD, thus only stimulating the USD economy



or



2. Spending your bitcoins, thus stimulating the BTC economy, and immediately buying back new bitcoins (on exchange or circle or whatever), thus increasing demand for Bitcoin on the market.

Notice that the end result is the same: you essentially purchased some stuff, lost some USD, and kept your BTC. But with option nr. 2, you're actively helping to raise the Bitcoin price level on two ends: Bitcoin economy AND market demand. I really don't understand why even the most fanatic Bitcoin owners don't seem to get this



Especially if you're a Bitcoin fan, believer, enthusiast, investor, or hodler, SPEND THEM! (And immediately refill your stash of bitcoins by buying new ones with fiat)



By just sitting on your coins, instead of using them, Bitcoin won't grow! Spend them, and buy back at the same time.

No, no, NO! As a strong bullish long-term Bitcoin believer, I completelyEven if you consider your bitcoins as long term investment, rather than spending money - what do you think will help raising the value of your precious bitcoins more:Notice that the end result is the same: you essentially purchased some stuff, lost some USD, and kept your BTC. But with option nr. 2, you're actively helping to raise the Bitcoin price level on two ends: Bitcoin economy AND market demand. I really don't understand why even the most fanatic Bitcoin owners don't seem to get this(And immediately refill your stash of bitcoins by buying new ones with fiat)By just sitting on your coins, instead of using them, Bitcoin won't grow! Spend them, and buy back at the same time. Feel free to send your life savings to 1JhrfA12dBMUhcgh85wYan6HL2uLQdB6z9

turvarya



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Hero MemberActivity: 714Merit: 500 Re: HODL, HOARD your cypto GOLD! All Hail the Hoarders! February 08, 2015, 10:01:15 AM #7

Quote from: Jace on February 08, 2015, 09:18:00 AM Quote from: cuddaloreappu on February 08, 2015, 03:41:09 AM So if you want bitcoin to succeed! just hold your bitcoins! dont spend them around! you may feel sad and bad if the 200$ you spent could be worth 1000$ tomorrow and that you threw them away cheaply!



No, no, NO! As a strong bullish long-term Bitcoin believer, I completely disagree



Even if you consider your bitcoins as long term investment, rather than spending money - what do you think will help raising the value of your precious bitcoins more:



1. Hodling your bitcoins and spending USD, thus only stimulating the USD economy



or



2. Spending your bitcoins, thus stimulating the BTC economy, and immediately buying back new bitcoins (on exchange or circle or whatever), thus increasing demand for Bitcoin on the market.

Notice that the end result is the same: you essentially purchased some stuff, lost some USD, and kept your BTC. But with option nr. 2, you're actively helping to raise the Bitcoin price level on two ends: Bitcoin economy AND market demand. I really don't understand why even the most fanatic Bitcoin owners don't seem to get this



Especially if you're a Bitcoin fan, believer, enthusiast, investor, or hodler, SPEND THEM! (And immediately refill your stash of bitcoins by buying new ones with fiat)



By just sitting on your coins, instead of using them, Bitcoin won't grow! Spend them, and buy back at the same time.



No, no, NO! As a strong bullish long-term Bitcoin believer, I completelyEven if you consider your bitcoins as long term investment, rather than spending money - what do you think will help raising the value of your precious bitcoins more:Notice that the end result is the same: you essentially purchased some stuff, lost some USD, and kept your BTC. But with option nr. 2, you're actively helping to raise the Bitcoin price level on two ends: Bitcoin economy AND market demand. I really don't understand why even the most fanatic Bitcoin owners don't seem to get this(And immediately refill your stash of bitcoins by buying new ones with fiat)By just sitting on your coins, instead of using them, Bitcoin won't grow! Spend them, and buy back at the same time. OP just went full retarded, never go full retarded.I second that. https://forum.bitcoin.com/

New censorship-free forum by Roger Ver. Try it out. New censorship-free forum by Roger Ver. Try it out.

cuddaloreappu



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Hero MemberActivity: 756Merit: 502 Re: HODL, HOARD your cypto GOLD! All Hail the Hoarders! February 08, 2015, 10:07:00 AM #8 Quote from: Jace on February 08, 2015, 09:18:00 AM Quote from: cuddaloreappu on February 08, 2015, 03:41:09 AM So if you want bitcoin to succeed! just hold your bitcoins! dont spend them around! you may feel sad and bad if the 200$ you spent could be worth 1000$ tomorrow and that you threw them away cheaply!



No, no, NO! As a strong bullish long-term Bitcoin believer, I completely disagree



Even if you consider your bitcoins as long term investment, rather than spending money - what do you think will help raising the value of your precious bitcoins more:



1. Hodling your bitcoins and spending USD, thus only stimulating the USD economy



or



2. Spending your bitcoins, thus stimulating the BTC economy, and immediately buying back new bitcoins (on exchange or circle or whatever), thus increasing demand for Bitcoin on the market.

Notice that the end result is the same: you essentially purchased some stuff, lost some USD, and kept your BTC. But with option nr. 2, you're actively helping to raise the Bitcoin price level on two ends: Bitcoin economy AND market demand. I really don't understand why even the most fanatic Bitcoin owners don't seem to get this



Especially if you're a Bitcoin fan, believer, enthusiast, investor, or hodler, SPEND THEM! (And immediately refill your stash of bitcoins by buying new ones with fiat)



By just sitting on your coins, instead of using them, Bitcoin won't grow! Spend them, and buy back at the same time.



No, no, NO! As a strong bullish long-term Bitcoin believer, I completelyEven if you consider your bitcoins as long term investment, rather than spending money - what do you think will help raising the value of your precious bitcoins more:Notice that the end result is the same: you essentially purchased some stuff, lost some USD, and kept your BTC. But with option nr. 2, you're actively helping to raise the Bitcoin price level on two ends: Bitcoin economy AND market demand. I really don't understand why even the most fanatic Bitcoin owners don't seem to get this(And immediately refill your stash of bitcoins by buying new ones with fiat)By just sitting on your coins, instead of using them, Bitcoin won't grow! Spend them, and buy back at the same time.

I got to be rich to do that..buy an xbox with usd for 300$ or else buy with btc for 600$(to buy equal btc again) I got to be rich to do that..buy an xbox with usd for 300$ or else buy with btc for 600$(to buy equal btc again)

turvarya



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Hero MemberActivity: 714Merit: 500 Re: HODL, HOARD your cypto GOLD! All Hail the Hoarders! February 08, 2015, 01:36:20 PM #16 Quote from: cuddaloreappu on February 08, 2015, 10:07:00 AM Quote from: Jace on February 08, 2015, 09:18:00 AM Quote from: cuddaloreappu on February 08, 2015, 03:41:09 AM So if you want bitcoin to succeed! just hold your bitcoins! dont spend them around! you may feel sad and bad if the 200$ you spent could be worth 1000$ tomorrow and that you threw them away cheaply!



No, no, NO! As a strong bullish long-term Bitcoin believer, I completely disagree



Even if you consider your bitcoins as long term investment, rather than spending money - what do you think will help raising the value of your precious bitcoins more:



1. Hodling your bitcoins and spending USD, thus only stimulating the USD economy



or



2. Spending your bitcoins, thus stimulating the BTC economy, and immediately buying back new bitcoins (on exchange or circle or whatever), thus increasing demand for Bitcoin on the market.

Notice that the end result is the same: you essentially purchased some stuff, lost some USD, and kept your BTC. But with option nr. 2, you're actively helping to raise the Bitcoin price level on two ends: Bitcoin economy AND market demand. I really don't understand why even the most fanatic Bitcoin owners don't seem to get this



Especially if you're a Bitcoin fan, believer, enthusiast, investor, or hodler, SPEND THEM! (And immediately refill your stash of bitcoins by buying new ones with fiat)



By just sitting on your coins, instead of using them, Bitcoin won't grow! Spend them, and buy back at the same time.



No, no, NO! As a strong bullish long-term Bitcoin believer, I completelyEven if you consider your bitcoins as long term investment, rather than spending money - what do you think will help raising the value of your precious bitcoins more:Notice that the end result is the same: you essentially purchased some stuff, lost some USD, and kept your BTC. But with option nr. 2, you're actively helping to raise the Bitcoin price level on two ends: Bitcoin economy AND market demand. I really don't understand why even the most fanatic Bitcoin owners don't seem to get this(And immediately refill your stash of bitcoins by buying new ones with fiat)By just sitting on your coins, instead of using them, Bitcoin won't grow! Spend them, and buy back at the same time.

I got to be rich to do that..buy an xbox with usd for 300$ or else buy with btc for 600$(to buy equal btc again)

I got to be rich to do that..buy an xbox with usd for 300$ or else buy with btc for 600$(to buy equal btc again)

Let's assume you bought 10 BTC for USD 1000 each last year.



Now, you want to buy an Xbox.

Scenario 1:

You buy it with fiat.

You spend 300 USD.

(-10.000)+(-300)=-10.300 [USD]

10 = 10 BTC



Scenario 2:

You buy with BTC and replenish. Assume 1 BTC=300 USD

(-10.000)+(-300)=-10.300 [USD]

10-1+1=10 BTC



Have you lost any money in Scenario 2? No

But you have stimulated BTC-economy.

Have you put selling pressure on the BTC-market? No. The merchant has sold 1 BTC, but you have bought 1 BTC, which nullifies:

(-1)+1=0

I guess you are really bad at math. So, I give you an example.Let's assume you bought 10 BTC for USD 1000 each last year.Now, you want to buy an Xbox.Scenario 1:You buy it with fiat.You spend 300 USD.(-10.000)+(-300)=-10.300 [USD]10 = 10Scenario 2:You buy with BTC and replenish. Assume 1 BTC=300 USD(-10.000)+(-300)=-10.300 [USD]10-1+1=10Have you lost any money in Scenario 2? NoBut you have stimulated BTC-economy.Have you put selling pressure on the BTC-market? No. The merchant has sold 1 BTC, but you have bought 1 BTC, which nullifies:(-1)+1=0 https://forum.bitcoin.com/

New censorship-free forum by Roger Ver. Try it out. New censorship-free forum by Roger Ver. Try it out.