Is HODL-ing keeping the value of crypto-currencies low?
Do you believe in the HODL philosophy? You may want to reconsider using part of your stash of coins for purchasing, trading and USING it as a currency.
Why?
The more we use crypto-currencies as a currency and not an asset the more demand will grow!
The more daily applicable use for crypto currencies the more the demand will grow!
The more the demand grows the more value the coins will hold. it is that simple.
While its a great thing to have a savings(and you should HODL some of your coins)...
in the long run if we want crypto currencies to be a currency we need to use them as a currency for our daily transactions and move away from the central banks!
Thanks for watching please up-vote, resteem and follow.
~TT
▶️ DTube
▶️ IPFS
I think hodlers do add volatility which may hurt the pricing. I think cryptos could use more traders to help stabilize the price.
The more people who actively exchange cryptos as a currency on a daily basis and not just trading it for fiat the more the value cryptos will have
I think you need both traders and users. Traders can help stabilize the price for the users.
I think your right. The current problem is everyone is holding and not using as a currency. everyone should both hold and spend in my opinion
Yeah I guess transactions went down a lot for bitcoin which is not good. You need stability from both. I think most of the transactions were probably traders.
yeah most likely most of the transactions where traders. but if people started using it as a currency the value will jump back up. But with the new tax laws in the U.S. is encouraging people to hodl and not spend
hodling is reducing the volatility of the market. Think about it it everyone hodled then there would be less sellers and less crashes. I also don't mean to hold on forever, I mean hold until you see your investment realize its full potential like 100x to 1000x.
If 99% of people are hodlers and only 1% are willing to trade you can expect big swings and more volatility because there are fewer shares to trade. A lot of big investors aren't willing to invest in crypto thanks to the volatility.
I am not talking about selling your crypto for paper fiat, just using it in place of government issued currency. that means trading your coins for goods and services directly by using peer to peer transactions and not the third party exchanges.
To the question in your title, my Magic 8-Ball says:
Hi! I'm a bot, and this answer was posted automatically. Check this post out for more information.
What if it costs too much to use? Like btc, at least last month it cost way too much, haven't tried lately.
then you can start using alt coins like steem or sbd which has 0 transaction fees and completes within 3 seconds. that will also help rise the price