Why is it profitable to save Bitcoins?

Most of us have a negative attitude towards hoarders, that is, people who save money instead of spending it on buying "necessary" things. A special kind of this category are Bitcoin collectors . They expect to make good money on the rate increase. But most cryptocurrency owners are in a hurry to get rid of virtual coins. In doing so, they are guided by the high ideals of popularizing digital money. But in reality, the situation is somewhat different.

An easy "parting" with Bitcoins does not increase their value in the eyes of sellers

Many adherents of cryptocurrency have had to deal with the reluctance of merchants to accept digital coins for payment. And even after giving a lecture on the advantages of Bitcoins, most of the sellers remain unconvinced. Why are most traders so distrustful of cryptocurrency? Lets look at the situation through their eyes.

So, a buyer comes to them and expresses a desire to get rid of the coins, which, according to him, are simply wonderful. Despite all their advantages, the user is eager to exchange them for other things. Such "advertising" only harms Bitcoin. And the seller is quite understandable: why does he need a suspicious currency, which the owner is in a hurry to get rid of? To get a merchant interested, you need to be much more subtle. For example, ask about the possibility of paying with paper wrappers, which are issued by the Central Bank. After all, this will allow you to save Bitcoins, which are real money. Such user behavior is more likely to convince the merchant of the true value of the cryptocurrency.

There are even more interesting options. You need to express a desire to pay for goods with traditional money, and get change in Bitcoins. With a high degree of probability, the seller will say after a while that he himself is not averse to receiving income in cryptocurrency. After all, you cant surprise anyone with ordinary money today, while Bitcoins are a real rarity.

It is the "curmudgeons" who help increase the value of cryptocurrency

Since its inception on the market, the price of Bitcoin has risen at the expense of users who hoarded coins, rather than squandering them. Each jump in value was due to the fact that the number of cryptocurrency holders exceeded the number of users willing to spend it.

To date, Bitcoin has mastered only those market segments that correspond to the level of its capitalization. If this amount does not exceed fifteen billion dollars, then digital money can be used by small companies, and not by giants of international trade. To enter the global market, the capitalization of Bitcoin must increase several times. To achieve such results, it is necessary to increase the number of crypto coin holders. Such a solution will achieve massive acceptance and further increase their price.

There are many known cases when the cost of cryptocoins grew faster than the number of their owners. This phenomenon is explained by the significant popularity of digital money. Such a rapid rise in the rate often causes sharp fluctuations in the price of cryptocurrency, because it is difficult for non-specialists to understand the difference between a stable increase in value and temporary speculation.

What is the role of traders?

Bitcoins are a very convenient currency in all respects, sometimes it is difficult to resist making a purchase for crypto coins. To limit spending, it is necessary to demand a discount, because the use of digital currency saves the store from numerous expenses. Therefore, it is considered very profitable for a merchant to receive payment for goods in Bitcoins.

In this situation, the role of "curmudgeons" is much more important than that of sellers. Lets imagine a situation when a popular restaurant starts accepting payments in cryptocurrency. Such a decision will not force ordinary people to buy coins, because they can still be paid by credit card. Its another matter if, for example, a restaurant completely switches to Bitcoins, then customers willy-nilly will have to purchase crypto coins.

Most of the sellers accepting Bitcoins sell the product for fiat currency as well. Thus, their support for digital money is manifested only in the fact that they do not interfere with the accumulation of crypto coins. If the seller immediately converts Bitcoins into dollars, and his buyers purchase them solely as a means of payment, then on a global scale, this operation will not have the slightest effect on the level of demand for digital currency. The real hero is the hoarder, giving away dollars in exchange for Bitcoins. Moreover, he does not rush to spend them, but diligently fills the virtual moneybox.

Greed is not a bad feeling at all

Bitcoin turnover implies that there is a party that wants to purchase virtual coins. It is the "curmudgeons" who ensure the turnover of the cryptocurrency due to the desire to increase savings. Also, the Bitcoin rate increases due to the accumulation of coins, because this encourages buyers to increase the price.

The scope of any currency, including Bitcoins, depends on the level of market capitalization. In this quality, they are fundamentally different from stocks, which become cheaper as their number increases. The situation with the currency is completely different. The higher the demand for a certain type of currency, the higher the level of their capitalization. Currency liquidity is also determined by its price: the higher this indicator, the easier it is to exchange it. Thus, the more users accumulate Bitcoins, the better it becomes as a medium of exchange.

The success of cryptocurrency on the market largely depends on ordinary people, more precisely, on their belief in it as a means of payment. It is the confidence in the value of digital coins that is the basis for the system. The more people seek to get hold of the cryptocurrency, the more Bitcoin grows in value. Therefore, for the further development of the system, it is necessary to increase the number of bitcoin holders.