Re: Spending Bitcoins

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tracktorr

I am here also in forum to earn free bitcoins and I get it monthly to have extra money for my needs and wants. I put some of them on my savings, for paying bills and others. So I don’t keep much of coins in an online wallet I just wait until the price get higher before I sell them.

I also did the same thing as you. but if bitcoin is more popular, more widely used, more and more accepted, certainly I and many other users will be more frequent spending

Yes it will be a different thing that we are going to think if its widely used. We might be keeping more and more instead of just spending it.
Spending bitcoin will make a big impact also for it will circulate from person to person but as who knows how valuable it could be will not be consumers but instead keepers or holders.

People who have invested huge amount in bitcoins will never prefer to spend them as its an investment for them so if they spend then they will miss an opportunity of making profits in future when price goes higher and at this stage they will prefer to simply hold them.

This applies only to the large holders of bitcoins who have other plans for bitcoin and at the same time have other financial incomes at the expense of which they live. But I think that ordinary users bitcoin, earn bitcoin to spend.

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fathur.aza

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GreenBits

I am here also in forum to earn free bitcoins and I get it monthly to have extra money for my needs and wants. I put some of them on my savings, for paying bills and others. So I don’t keep much of coins in an online wallet I just wait until the price get higher before I sell them.

I also did the same thing as you. but if bitcoin is more popular, more widely used, more and more accepted, certainly I and many other users will be more frequent spending

Yes it will be a different thing that we are going to think if its widely used. We might be keeping more and more instead of just spending it.
Spending bitcoin will make a big impact also for it will circulate from person to person but as who knows how valuable it could be will not be consumers but instead keepers or holders.

People who have invested huge amount in bitcoins will never prefer to spend them as its an investment for them so if they spend then they will miss an opportunity of making profits in future when price goes higher and at this stage they will prefer to simply hold them.

This applies only to the large holders of bitcoins who have other plans for bitcoin and at the same time have other financial incomes at the expense of which they live. But I think that ordinary users bitcoin, earn bitcoin to spend.

Absolutely. bitcoin is money. Unless you have megabucks, or multiple streams of income, the bitcoin will be spent, like money usually is. But, if you can manage to keep your saving in bitcoin, you would generally experience a positive interest rate, over a given year (it really matters what years though; had you caught the slide down from 1000 after Gox, it wouldn’t be pretty).

bitkilo

I am here also in forum to earn free bitcoins and I get it monthly to have extra money for my needs and wants. I put some of them on my savings, for paying bills and others. So I don’t keep much of coins in an online wallet I just wait until the price get higher before I sell them.

I also did the same thing as you. but if bitcoin is more popular, more widely used, more and more accepted, certainly I and many other users will be more frequent spending

Yes it will be a different thing that we are going to think if its widely used. We might be keeping more and more instead of just spending it.
Spending bitcoin will make a big impact also for it will circulate from person to person but as who knows how valuable it could be will not be consumers but instead keepers or holders.

People who have invested huge amount in bitcoins will never prefer to spend them as its an investment for them so if they spend then they will miss an opportunity of making profits in future when price goes higher and at this stage they will prefer to simply hold them.

This applies only to the large holders of bitcoins who have other plans for bitcoin and at the same time have other financial incomes at the expense of which they live. But I think that ordinary users bitcoin, earn bitcoin to spend.

Absolutely. bitcoin is money. Unless you have megabucks, or multiple streams of income, the bitcoin will be spent, like money usually is. But, if you can manage to keep your saving in bitcoin, you would generally experience a positive interest rate, over a given year (it really matters what years though; had you caught the slide down from 1000 after Gox, it wouldn’t be pretty).

It’s good to see that some other member actually look at bitcoin as a currency too and not just a form of investment, i can’t see too many currencies surviving very long if nobody actually uses them to trade.

Unichange.me
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bitkilo

To grow the adoption of bitcoin we need people spending it as a daily currency.
In my country there is not much I cant buy with bitcoins.
Granted not a lot of retailers accept BTC yet but with all the services available now they dont need to.
A bitcoin debit card can be very handy.

Nowadays if I need to pay a bill then I can pay any bill via a site called livingroomofsatoshi

Please list any reasons why you could not use bitcoin for day to day expenses and maybe we can find a way.

bitcoin is not widely accepted in many countries.Same condition in your india.I can just recharge my mobile using bitrefill.But the japanese are lucky enough as their government has accepted bitcoin as a payment method.

If you really want to start spending bitcoins on a regular basis then it just sounds to me like you are just not looking hard enough. I’m sure that most countries have services available now that will let you pay in bitcoin while the shop still get the currency they want.

A bitcoin debit card comes in handy too.
I know these choices are 3rf parties and thats not reall what bitcoin was really designed for but sometimes you just have to go outside the box.

Unichange.me
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bitkilo

I am here also in forum to earn free bitcoins and I get it monthly to have extra money for my needs and wants. I put some of them on my savings, for paying bills and others. So I don’t keep much of coins in an online wallet I just wait until the price get higher before I sell them.

most bitcoin users today are investors so do not be surprised when they prefer to keep it for a profit and then convert it to a fiat. although occasional spending.

I wouldn’t call someone with 0.1 BTC as an investor. When you play with small amount you are just “gambling”. If you invest something like 100 000$ in crypto, no matter in wich form, holding, investing in a start up or what ever then you can call this an “investor”… But don’t call investor people making 10$ weekly and holding them like gold up they can sell it for 11$ lol

up to you about any name and regardless of the amount of capital. if they use bitcoin to invest I would tell them as investors because they invest? #imo

It doesn’t matter if it’s $10 dollars or $10 million if you are betting on the futures of in this case a cryptocurrency then it’s investing.
Not everyone has hundrends of thousands to invest and $10 is a lot of money for people in some parts of the world.
There are probably more poor people getting scammed out of their $10 investments all over the world than there is a few people getting scammed for $100k

Unichange.me
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(Why?)

Published at Mon, 03 Apr 2017 01:06:34 +0000

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By antwerpenR on 2013-10-12 13:15:10

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