1/ Crucial ways in which HODLers are not free riders:
They are bearing much of the price or exchange rate risk. Merchants who accept BTC and insta-convert to fiat aren't bearing this risk.
They are bearing much of the price or exchange rate risk. Merchants who accept BTC and insta-convert to fiat aren't bearing this risk.
2/ HODLers take on the opportunity cost of not holding any other asset
They could otherwise invest in stocks, bonds, real estate, other currencies etc.
They could otherwise invest in stocks, bonds, real estate, other currencies etc.
3/ HODLers help 'pay' for bitcoin's security with inflation (block reward subsidy)
Incentivising miners to provide network hash rate
Incentivising miners to provide network hash rate
4/ HODLers commonly take on the work of advocating and teaching other people about bitcoin, sound money.
Bitcoin advocates help teach people to avoid the scams (almost all altcoins, forks, ICOs)
Bitcoin advocates help teach people to avoid the scams (almost all altcoins, forks, ICOs)
5/ To the extent HODLers don't spend, they are giving more purchasing power to everyone else in the ecosystem
6/ I think the takeaway here is: You don't have to be a developer to contribute. You can contribute in other ways.
Let's not denigrate the contribution of the HODLer
Let's not denigrate the contribution of the HODLer
