7 ms·

What's the reasoning behind the philosophy?

• nostrademons 8y ago
  Bitcoin's a deflating currency; there's a fixed number that will ever be mined, and a number are lost to forgotten private keys etc, and so the supply will only ever go downwards. Meanwhile, if its boosters can actually keep it in the news, build things with it, and use it as a currency, demand for it in the long run will continue going up. This is the other unspoken assumption of HODLing, unspoken because most people don't want it explicitly known that they're hyping & propagandizing, but pretty apparent in their actions. This is also not true in the short run; hype cycles like what we saw in Dec 2017 are impossible to sustain forever, which is why the price today is significantly lower than it was then, which is why HODLing only works on long (5-10 year) timespans rather than short ones. Reduced supply + increased demand = higher price.
• deleted 8y ago
  [deleted]