If you only HODL, you are piggyriding on actual bitcoiners driving sovereignty
Discussion
Few
shall we stop cheering Microstrategy for only buying and hodling Bitcoin because they piggy riding on you? Is the value they bring to Bitcoin adoption literally zero? If the "only Hodlers" suddenly change their minds and exchange Bitcoin back to fiat, wouldn't impact the adoption?
If the answer for above questions is affirming, we probably should launch new campaign and encorage them to sell, because this kind of "piggy riding" is immoral and not acceptable.
Who is 'we'?
I don't cheer them, and definitely not for piggyriding. And I didn't say 'piggyriding on me'.
I admit they bring the value to Bitcoin adoption for being so open about their strategy and providing lots of education and example for institutions. I bet there are some others that do it in the shadow, maybe even publicly shaming on Bitcoin, while buying, holding and expecting the price and technology to grow without their effort.
If "only Hodlers" suddenly change their mind, it will only confirm they were piggyriding, regardless the side effect impact on adoption - which might actually be negative in such situation.
I understand that the value you imply by that thought experiment, is that piggyriders increase scarcity (let's get some of those bitcoin, let someone else develop, promote and use it), which drives the price up...?
Great value 😅
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Sorry for not much affirming answers above
Nothing to be sorry about. The only thing I imply is that devs create incentives for Hodlers and vice versa. And don't understand where this negativity towards Hodlers comes from. They also do a lot of work to gain conviction and bet on the adoption with their wealth.
I'm happy to have a conversation on this topic on some other occasion and understand errors in my reasoning of this mutual relationship between hodlers and other network participants.
so underappreciated...