Coin hoarders are Pixiu players $BTC

Most people have extremely high expectations for Bitcoin.

For example, there is a book that describes three imaginary stages:

The first stage is value storage. In this stage, Bitcoin is used to store value, and even pension institutions have joined. But it is mainly used to exchange for legal currency, which is the current stage.

The second stage is the payment method. In this stage, Bitcoin can be used to buy things, with the cooperation of the Lightning Network, even some low-priced goods such as coffee can be bought. Currently, El Salvador belongs to this stage.

The third stage is the account unit. As more and more people use Bitcoin for transactions, some merchants begin to use Bitcoin for pricing instead of legal currency. Bitcoin may become the world's settlement currency. This process is also called hyper-Bitcoinization.

For coin hoarders, there is no need to sell as long as they can wait until the second stage.

If you think that more and more Bitcoin will be fixed in the hands of coin hoarders, and that the liquidity of the market will become worse and worse, won't it become a market with no price in the end?

These problems will not happen at present, for the following reasons:

1. There are not only coin hoarders in the market, but also miners. Miners are the opposite of coin hoarders. While coin hoarders are buying, miners are selling. Bitcoin cannot be mined out before 2140, and there has been a slow inflation. Before that, liquidity will not be exhausted.

2. After all, coin hoarders are only a minority, and most of them are still speculators. You can look at the number of addresses holding coins. The number of addresses holding more than 1 coin has been slowly increasing, while the number of addresses holding more than 10 coins has been slowly decreasing. Bitcoin is actually becoming more and more decentralized.

3. Savings are nothing more than future consumption. Even if you are a coin hoarder, you will still have to consume someday in the future. Think about it, there is a sports car you like very much. When you are young, you need 1 million, and you can't afford it. But when you reach middle age, you find that this car only costs 10,000 or even 1,000 (in Bitcoin terms). Will you buy one?