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Is hoarding bitcoins good or bad for it's growth?

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  • Is hoarding bitcoins good or bad for it's growth?

    I believe that is not the case that is a bad thing to hold bitcoins. If you are thinking that because they are limited in number their value will grow that is not totally true but only partially. In fact this is true in theory but not in practice because the last coin will be mined in the distant year 2140 a long time from now. Until then the existing bitcoins will change hands a lot of times and even if some people hold it that does not mean that they are the majority.

  • #2
    It is the best time to invest Bitcoin because of the current dip. Lots are happy since their wish of buying Bitcoin at less than $4000 has come true, let alone the bonus of seeing Bitcoin at less than $4000 recently. I bet this is the works of exchanges that shorted. They need to get profit so they FUD and send an announce against the current situation of Bitcoin. Now that they have earned, and bought back Bitcoins, they will push it up again and short to get another batch of profit. Rinse and repeat.

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    • #3
      Unlike hoarding foods and other necessary everyday stuffs, hoarding Bitcoin can actually be good for the whole market and the community as less liquidity in the market can mean there would be demand or orders that can not be meet as soon as possible thereby raising the value of the coin.

      I am sure that there are those who are doing it in hopes that the value can jump meteorically in the coming months. And it is already proven that Bitcoin is now becoming the best investment there is, much better than gold which remained flat and performing well compared to blue chips.

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      • #4
        I think it is dependent on certain individuals range whether he can afford it or not. If I can afford it then I will not really mind going for it for longer time and won’t holding it with the mood that it’s in currently. But, if I am not in shape to afford it then I think it I obvious that we need to be very careful and don’t have it just for the sake of having it, as it will not put us in good place at all and can be dangerous!

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        • #5
          All I can say is that hoarding bitcoin is not bad for it now but maybe in the future it would be bad. You are right about the advantages of hoarding, but the listed disadvantages is still not happening right now.

          Also even if elites got hold now of majority of bitcoins in the end they sell, then other people buys then that's when they lose control over it sometimes since the ones who bought from them might prefer to hold the bitcoin they bought.

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          • #6
            It can be good if we get it at lower price, but it can be risky if the price is too high. So, that’s why it is sort of thing that we need to be extremely careful about and make sure that IF we work it out properly then we will be able to gain plenty. It’s just about having proper plan and making sure that we work carefully for it. If we hold it randomly then we will suffer only, so we must be very sure on how to handle things.

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            • #7
              It is good but only if we have reason for it. I don’t think anyone should ever do things just because others are doing it. I don’t think it exactly make sense for us that we follow others. I will say it’s sensible that we go with holding it on 2 conditions.

              First, if we are able to hold it without having to sell it later due to urgent requirement, as then it will not work and we might have to sell it at losses.

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              • #8
                It is highly beneficial to hold BTC, but too much can be too risky. So, it is must that we don’t take too much risk and keep certain amount as taking risk. If we go on with taking too much risk then we will always struggle and will not gain much. But if we balance it all out correctly then we will be able to gain and will always gain it all a lot easier and will be able to find things working extremely nicely and will be able to gain well!

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                • #9
                  Very often spending Bitcoin is the same as selling it, because businesses that accept it are selling it quickly to avoid losses from volatility.

                  This is bad for the price in short term. But the fact that Bitcoin is used as money makes it somewhat better than just going to exchange and dumping your coins. But in the long term, speculative value of Bitcoin should play smaller role in its price forming, and factors like its usability, features, security will be determining its price.

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                  • #10
                    I don’t think so little amount is going to change much. It is about big players who might matter a lot and it’s hard to say if this move will make it grow or decrease. I think if it’s popular and the incoming gets lesser than the value is going to go high. Although, it’s really not possible to say with 100% guarantee, but still we need to make sure we work it all out to ensure we are at safe scenario.

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