One of the fundamental issues raised against Bitcoin is that it is deflationary. A strong controversial argument by many prominent government economists has led to this. It is of the opinion of the government that Bitcoin could be used illicitly for the financing of crime-related activities by individuals who hold a lot of Bitcoin secretly as a cash balance. That's individuals who Hodl bitcoins as a monetary balance.
The promoting of a Hodl culture or mentality among Bitcoin users leads to the above conclusion. And that's how it has been for everyone who buys Bitcoin. This is a completely erroneous understanding of money. The whole culture of Hodl as a concept is all a fraud and a scam. When the purpose of a thing is compromised it could well be called a scam. So many people enter Bitcoin with the hope of escaping the current financial system and having the ability to spend their Bitcoin the way they want. But the Hodl mentality changed the game along the way. This is a big scam that makes the right-thinking individuals leave the system to find a better option which is now Bitcoin cash BCH.
Today everyone who buys Bitcoin BTC hodl it to become more valuable later on. And they seem to be winning the HODL game. The upside-down of this hoarding game is that the more they Hodl BTC the more useless BTC become as a currency that it was intended to be.
This Hoarding culture or mentality is also now taking a deeper and wider space in the Bitcoin cash community. Bitcoin cash BCH is not for the Hodl, and I have valuable reasons to justify my submission.
When we are talking about the difference between BCH and BTC, this is where the argument stands. Those investing in Bitcoin HODL to get more valuable in the future so they become millionaires in a short time. This culture was promoted by the BTC developers, a software developer mindset to hookworm investors, thereby destroying the whole concept of Bitcoin as a usable currency. What is not usable is not valuable.
The ability to use Bitcoin Cash BCH is what makes it valuable and a superior option over Bitcoin. Value is not just only in Hoarding, but also in use. Spend and replace allow you to save BCH and also add value to the system. This is what so many people are still missing. Many of us are still thinking of BCH with a mentality inherited from the BTC community.
That's an error that ruined BTC, the HODL mentality. BTC, as it is, cannot have used, I mean on-chain use and not a gateway protocol such as the lightning network. That doesn't add value but on-chain use adds to the value of a network.
We are talking about the mass adoption of Bitcoin cash, we want merchants around the world to accept BCH. How can we achieve that when we are promoting the Hoarding culture or mentality. Who will buy from the merchants when we all Hodl our BCH and refuse to spend? Those merchants who have been accepting BCH would soon stop doing business due to a lack of capital inflow.
The use of BCH as cash is what will drive its value. Not used as a speculation asset nor as digital gold. Use BCH as cash as it is. When every BCH hoarders understand the need to push for the common deployment of BCH, to use it in everyday commercial activities anywhere they can, to have their savings in BCH and spend and replace and slowly save again, then and only then does BCH growth is assured.
There is a difference between Hoarding and saving. Saving is done to be able to meet your needs in a future time without depriving yourself of the present needs. You save at your own pace without any compulsion by any forces. Hoarding on the other hand is an act filled with greed and it's not even done because of future needs but to gain an advantage over another man.
When you are saving you are in peace, but when Hoarding you are in pieces, having countless sleepless nights monitoring price charts. Hoarding promotes greed, those who invented it make it so to manipulate the system and undue advantage over others.
The idea we are promoting by telling people not to ever spend BCH is the wrong one. Am very sorry to tell you this and this is clearly opposite to the intent of the Bitcoin cash network. The Bitcoin cash white paper clearly states it "A peer to peer electronic cash"
BCH is meant to be used as everyday money for payment for goods and services. The point of telling people not to spend BCH is like making the Bitcoin cash system a scam. BCH is cash, spend it on anything of your choice.
To end this argument I will like to bring our minds back home a little. If BCH was all about a HODL culture Roger ver won't be everywhere around the world promoting BCH. If it was about a HODL mentality George Donnelly won't be going about looking for merchants to accept BCH. That will be foolishness when no one is willing to spend BCH.
What about Marc, the read.cash, and noise.cash platforms? Why would they give out the BCH free to others instead of HODL?
If you don't know what BCH is all about, go back to the basics and learn all about this money. Spend and replace, and save. BCH is not for the Hodl, let get it right.
Hi, my friend
The purpose of saving is based on specific projects and not on the desire to get rich as many Holders claim here. I hope that such brilliant articles will remove the blindfolds so that they will join the campaign to promote the mass adoption of BCH for their own good.