Author Topic: Are you spending your Bitcoin?  (Read 2950560 times)

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Offline jeromanomicTopic starter

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Are you spending your Bitcoin?
« 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?

Offline Bitmann

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Re: Are you spending your Bitcoin?
« Reply #630 on: July 25, 2023, 10:54:54 AM »

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Re: Are you spending your Bitcoin?
« Reply #631 on: August 01, 2023, 06:33:53 PM »
Other than initial years of bitcoin, after getting the hype in world, Mostly masses were reluctant to spend it on random things. Yeah investment initiated by bitcoin got hike like Mining and Trading of bitcoin.

Offline emcd.

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Re: Are you spending your Bitcoin?
« Reply #632 on: August 08, 2023, 11:15:12 AM »
HODL is the best strategy, we think.
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Re: Are you spending your Bitcoin?
« Reply #633 on: August 28, 2023, 12:36:22 PM »
I just read this:

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?

Hey there,

Great point you've brought up, and the article is definitely an interesting read. When it comes to spending Bitcoin, it's a bit of a double-edged sword.

On one hand, using BTC for everyday purchases can help normalize and legitimize it as a currency. The more it's used, the more accepted it becomes, and that can only be good for its value in the long run.

On the other hand, you're right that if companies just convert it back to fiat currency immediately, it doesn't do much to support the BTC ecosystem or its price stability. It could even be a downward pressure on the price if the exchange volume skews heavily towards selling.

Honestly, I think what we need are more businesses that are willing to keep at least a portion of their BTC transactions in Bitcoin, rather than converting all of it to fiat. This would not only support the price but also reinforce the utility of Bitcoin as an actual currency rather than just an investment vehicle.

So, in short, shopping with BTC could be either good or bad, depending on how businesses and consumers treat it. If all we do is use it as a quick conversion tool, then it's not really serving its intended purpose as a 'currency,' and that might be detrimental to its value. But if it becomes a standard method of payment that people are holding onto and using, then that should be a net positive.

Just my two satoshis! What does everyone else think?
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Offline EthLite

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Re: Are you spending your Bitcoin?
« Reply #634 on: September 04, 2023, 07:14:02 AM »
The article is old, unfortunately. But it raises a valid concern - spending bitcoin at merchants that immediately convert to fiat could negatively impact price. But wider adoption may offset this. Moderation could be wise early on.

Offline BillyBroun20201

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Re: Are you spending your Bitcoin?
« Reply #635 on: September 07, 2023, 12:33:07 PM »
When I started mining bitcoins, I thought that I would keep it for many years, but time makes its own adjustments, so I have to sell it periodically to improve my financial situation.

Offline goroggt123

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Re: Are you spending your Bitcoin?
« Reply #636 on: September 07, 2023, 04:23:47 PM »
I'm just saving up and saving up

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Re: Are you spending your Bitcoin?
« Reply #637 on: October 09, 2023, 03:19:11 AM »
Cryptocurrency News | Latest Bitcoin News today | TheBitTimes.com
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Offline belka2511

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Re: Are you spending your Bitcoin?
« Reply #638 on: October 17, 2023, 09:32:09 AM »
I am hopeful that the price stabilizes: otherwise, the cryptocurrency [nofollow] may only serve as a temporary solution for small-scale transactions.
« Last Edit: October 21, 2023, 07:28:57 PM by belka2511 »

Offline Gunter

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Re: Are you spending your Bitcoin?
« Reply #639 on: October 23, 2023, 08:27:26 AM »
I bought to late on its way downs so unfortunetly Im not in a position to spend anything. Im hoping to Breakeven.

Offline joshuawhe

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Re: Are you spending your Bitcoin?
« Reply #640 on: October 24, 2023, 03:08:50 PM »
I would shop with Bitcoin Lightning because transactions are Lightning fast (hence the name) and basically feeless.

Offline suzika98

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Re: Are you spending your Bitcoin?
« Reply #641 on: October 31, 2023, 10:54:36 AM »
I agree that we need to use Bitcoin more, otherwise it will never gain traction, but given the current setup used by merchants... spending bitcoin is the same as selling it as they just convert instantly to receive cash


I completely agree with you, crypto adoption in the public needs to increase to see the price reach the potential point. This could mean paying with BTC, trading in crypto, etc., but at this point doing so would basically mean reducing your investment amount, and I don't think that makes sense for the individual investor. It's like sacrificing your own profits for the good of crypto in general. And if a large group doesn't make it happen, the small investor's movement doesn't make sense.

Offline thevaporizzer

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Re: Are you spending your Bitcoin?
« Reply #642 on: November 26, 2023, 08:15:20 PM »
Yes! Recently bought a couple of PS5 games with some btc. :)

Offline damep

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Re: Are you spending your Bitcoin?
« Reply #643 on: December 14, 2023, 01:14:00 PM »

I completely agree with you, crypto adoption in the public needs to increase to see the price reach the potential point. This could mean paying with BTC, trading in crypto, etc., but at this point doing so would basically mean reducing your investment amount, and I don't think that makes sense for the individual investor. It's like sacrificing your own profits for the good of crypto in general. And if a large group doesn't make it happen, the small investor's movement doesn't make sense.
It all depends on your investment goals
« Last Edit: December 18, 2023, 01:07:16 PM by damep »

Offline John_Trant_112

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Re: Are you spending your Bitcoin?
« Reply #644 on: December 23, 2023, 02:38:24 PM »
Trying to spend as small as possible amount of btc, trying to buy more and more of it

 

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