Author Topic: Are you spending your Bitcoin? (Read 2633015 times)

jeromanomic · « **on:** August 10, 2014, 11:32:03 AM »

I just read this:
http://www.finance-guy.net/finblog/how-will-you-spend-your-bitcoin/10/8/2014

Makes an interesting point. If we buy stuff with BTC and the company just sells it for cash right away, it's probably not good for the BTC price.

What do you think? Will shopping with BTC be good or bad for BTC?

Theinvestor · « **Reply #45 on:** August 31, 2016, 07:33:49 AM »

I'm currently using my coins to trade on ecoin.eu but when it comes to shopping, I usually use them online. Sometimes I exchange them so i could gain more and buy the items that I want at a much better price or deal.

svirby · « **Reply #46 on:** September 03, 2016, 05:30:42 PM »

I am just saving them

Ananya Zebar · « **Reply #47 on:** September 22, 2016, 06:55:59 PM »

There are many ways to spent bitcoisn. Mostely i prefer following way to spent our bitcoins.
1. purchase an items at online and offline stores.
2. at Bars and Restaurants
3. Bitcoin acceptd Payment platforms
4. Bitcoin trading
5. Donate bitcoins
6. on Gift cards too

Bitport · « **Reply #48 on:** October 28, 2016, 04:32:13 PM »

Not much of a spender
More as a trader

seokts · « **Reply #49 on:** December 03, 2016, 07:04:48 AM »

You mean to buy mining equipment or to buy cloud mining capacity?

petsae · « **Reply #50 on:** December 16, 2016, 02:39:46 PM »

There have been many changes since 2014, but I'm planing reinvested all my bitcoin into my mining operations.

yonargi · « **Reply #51 on:** January 12, 2017, 12:47:36 AM »

1) Where do I post a new topic?
2) My bitcoin is in a paper wallet for security. How do I transfer it to my online wallet to make it available to sell or purchase? Please make the instruction thus: Step 1, Step 2, Step 3, etc.

coins4all · « **Reply #52 on:** January 25, 2017, 05:56:51 PM »

Buying products or services with Bitcoin ( or any Crypto) is a very good thing in my books. Getting the trading out of the Crypto world and into general public only expands the education. If the "store owners" hold them, trade them for new stock or cash them, I feel its beneficial to the ecosystem as a whole.

Obrigado · « **Reply #53 on:** February 10, 2017, 11:38:23 PM »

AFAIK, BTC circulating is good for the ecosystem as a whole.
What appears to be closed loop ecosystems; OpenBazaar, Bitify, Bitsquare, is actually good for the BTC ecosystem as a whole because it begins the conditioning process of using BTC as 1st choice method of trade vs fiat.
When we stop trading coin for fiat and only trade it for goods, we will see BTC's true resilient intrinsic value.
iirc, there are plenty examples of bitcoiners living solely off of BTC, with only rarely sometimes having to trade for fiat with all the add ons available as of now, eGifter, Gyft, Uber, Lyft, Airbnb, Purse.io, BitPay Card, etc.

vinnyjones6 · « **Reply #54 on:** March 02, 2017, 10:15:45 PM »

The more bitcoin transactions, the better! Enough said!

brethheaden · « **Reply #55 on:** March 14, 2017, 04:07:41 PM »

The more BTC is involved into shopping and trading, more it will hold its ground in the long run, despite of the fact it is converted into another currency or is kept in same BTC units.

jiajiannnnn · « **Reply #56 on:** April 04, 2017, 10:12:34 AM »

Spent shopping with bitcoin is not bad idea.

KenJackson · « **Reply #57 on:** April 11, 2017, 02:19:58 PM »

Quote from: jeromanomic on August 10, 2014, 11:32:03 AM

What do you think? Will shopping with BTC be good or bad for BTC?

Tone Vays has recently been making been making the same main point.

Quote from: the 2014 article

Selling BTC for US Dollars will cause supply to increase and price to fall.

But that's only true if the buyer doesn't replenish his supply of bitcoin by exchanging fiat for them.

Here's a very plausible scheme that should NOT cause bitcoin to fall:

Get a bitcoin debit visa card
Exchange some fiat for bitcoin and add to your debit account
Spend bitcoin (which the seller exchanges for fiat)
Exchange more fiat for bitcoin to replenish your account

Why bother with bitcoin, you ask? Because while the bitcoin is sitting in your account between spend sprees, it's generally increasing in value.

rgreene · « **Reply #58 on:** April 14, 2017, 09:02:17 PM »

Yes I do. I spend some part of my Bitcoin for gold and silver. Some "real world", proven assets are always valuable diversification for me.

BitK1ng · « **Reply #59 on:** May 01, 2017, 02:09:01 PM »

I am absolutely spending my bitcoin.

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Are you spending your Bitcoin?