Bitcoin Forum

So for the last days I've tried to sell my services on the market place: signature, twitter posts and digital content.

Finding clients to pay with Bitcoins is terrible hard! People don't want to spend their coins too easy and many are just keeping their coins.

I believe BTC will succceed but this is a major issue!

If we want things to change I think bringing it to a lower value may be the way... so people can spend it more easily... ok don't rush to argue I want it to be $10,000 but this makes me believe nobody will spend a cent then.

Probably it was more fun spending it in the early days, too bad I wasn't an early adopter - believe it or not I only found out about it in 2013.

I've experienced the same thing with Dogecoin, even if it's lower value people aren't are too eager to spend their coins.

People spend more and buy more when the price is lower, especially if the drop was sudden.  They feel they might as well get something for the "failing Bitcoin".  You can also try setting a FIAT price for a service and accepting Bitcoin, that way it is easier for people to buy anytime.  In other words, there was some service that we used to use for 0.01 Bitcoin per month.  At the time, it was a stupid service that we played with for a buck or two a month.  Right now, that is $4-5 per month and the service is not worth it.  Tell people you will do X service for $5 in BTC.  That way, no matter what the coin does, they are always paying you $5 and nothing more or less.

hoarding is an issue because bitcoin need still to grow, many issue are related to the adoption, especially, when that will be fixed, all the known issue will be fixed too

actually they will spend more when the value is higher and not now when it is a joke, so at 10k you see more usage for sure

Transactions are at all time high, people are using bitcoin, and by the way, people spend a lot more their coins when the price rises considerably, everyone wants to enjoy their new found riches. :)

If you want bitcoin selling your stuffs with bitcoin why the others must leave themselves without bitcoin and give those to you? Have thought sometime this variant? Why don't sell you in normal money and sell in bitcoin? Because you want bitcoin. And normally will not spend those but will accumulate. Why the others must do otherwise? Think. Think.  ???  Everyone has its own way of facing the use of bitcoin. If hold think that will worth more. And exactly the same will do even you because you want its price 10 000 us dollar. Have no meaning to spend it when its price is only 400 us dollar when can be have more after. But I can give an idea to have the bitcoins you want from the sell of your products. It is easy to realized and can be found by someone himself is think a little. Sell everything you want to sell with bitcoin not with bitcoin but with normal money and then with the money earned buy bitcoin. It is not the same like has sold all with bitcoin? Will have some fee to pay but again is better this way than don't have nothing. Think. Think.  ;)

I agree with this.

The primary issue at hand is that most people here for Bitcoin are under the idea that Bitcoin is an investment and is something that you should hodl until its price goes super high and then you can sell and make a profit. Of course, this is an issue if you want to use Bitcoin as actual money, and not just for investment purposes. I think that we need to work on changing people's mindsets about Bitcoin as an investment to Bitcoin as your everyday currency.

Jon Matonis has argued that the 21 million cap is only temporary and is sure to fall.

He believes one day there will be enough people with your inept attitude for a consensus hard fork. :D

Yeah no kidding, everyone wants to HODL and this is why bitcoin isn't a great currency.  But people don't spend precious metals anymore and yet they're still good to own and are a good store of value.

Feel free to spend all of your bitcoin's guys, no arguments from me on that.

I'm HODLING though.

In the start, for the people it was only an e-currency/digital currency to be used for online purchases and transactions but when they found it as a source of increase their saved amount of money. They started to earn it and save it. The price must have to rise because it make the bitcoin more interesting and giving it as a status as money as well as investment.

I see people selling a lot of things here everyday, maybe whatever you were trying to sell was not sold because either same thing was available to be bought at cheaper price somewhere else on the internet or maybe no one was interested in it at all. I don't think people just don't spend bitcoins because they're hoarders but they do spend them carefully, I gamble with bitcoins everyday, I don't buy a lot of stuff because simply I don't find anything worth buying.

I see you were selling re-tweets here: https://bitcointalk.org/index.php?topic=1326991.0

And some people did bought them but some found them expensive and that is perfectly normal.

I don't see how this is an issue with bitcoin.

this:
is proven to not work because
this:

even if the price is lower. people wont be suddenly incentivised to throw it away.
maybe the problem is not the price of bitcoin.. but the "value" and emotional attachment people have.

put it this way. you have 2 gold necklaces. both valued at $250 each.. but one has sentimental value.. and a belief that it can be used as a keepsake and passed down to the next generation..

say you have a service that you offer thats worth $250 and you want to convince someone to buy your service. its not about convincing people that the sentimental necklace has no emotional meaning, to get them to hand it over.
is not to make the necklaces appear to be worth only $125 and then ask for 2 necklaces..

the convincer is to show people that your service is actually valuable, that your service can offer the buyer something better than $250 value.. to show that you have something that users want desire and need..

Most people don't want to spend bitcoin because they like to hold for now. For some it's not needed to spend bitcoin since they are saving up for the future plus they might have a job next to the side.

They are actually some issue with bitcoin like you can get scam from some one and you can just get your money back.
After all bitcoin is tell okay is they are not that much issue only I don't like seeing the price going down.

Actually spending bitcoins has lot in common with speculation/gambling, when you are wondering if it would be better to do the deal tommorow or next week ;) High volatility is the major problem with bitcoin adaptation as a tender.

Yeah... people holding back Bitcoin are not helping it getting adopted as a real currency. For that, bitcoiniers need to start using it, spending it everyday as if it was cash.

It's not a rocket science. People are not keen on spending bitcoins/altcoins, because they don't get any earnings in BTC/alts.

No income - no spending.

Buying BTC with fiat just to spend it, would require some solid incentive for the buyer.

this!  If I could get paid for my regular work in Bitcoin then I would certainly spend it.  Buying Bitcoin with fiat then spending it seems strange.  Most people are probably hodling.

Buying Bitcoin with fiat is still pretty difficult thing to do. And probably because it's not very easy people don't rush to spend it then. That could be a valid argument also.

For me if there was something I wanted to buy and could pay either in BTC or paypal for example I'd choose to pay in paypal because it is much easier for me to get paypal in the first place. Bitcoin is hard for me to get period, no matter what the price of BTC is at the time it is worth more than that to me because it is not easily replaceable as opposed to paypal funds that I can just take a reloadable card to the dollar store to get.

When the day comes that I can just buy funded BTC cold wallets at the dollar store I will be much more likely to spend BTC.

yes i agree with that,people so afraid to spend their bitcoin for their service,and they choose to hold their bitcoin for price increase,this major issue will not resolve for this year.

You have to buy dollars to buy oil, and it is one of the reasons for the past strength of the dollar. A few countries are trying to change this ( Russia and China for example). I've quoted things for sale in Bitcoin, and offered a discount for using it, but haven't had any takers so far. I guess it's the Bitcoin image, and the ease of buying Bitcoin that causes the block rather than the price. A drop in price is likely to attract more currency investors which will decrease the velocity of Bitcoin.

the problem is not with people not wanting to spend their bitcoin. it is because the market is filled with what you have offered.
besides i am not sure how long did you try, but sometimes in any business it would take time for people to find out about you, in other words your luck starts and customers come to you. you have to be patient.

People start holding bitcoins for too long, they should spend it too for growth of bitcoins.
So, holding for long is the main issue these days with the bitcoins

this is naturally happen when bitcoin price high,but when bitcoin price going down,i think many people choose to use bitcoin for payment,not as investement.

people are holding bitcoin mainly because they are looking for a way to get rich quickly. and the history of bitcoin price shows that it is very well possible.

and i don't think lowering price at this point is going to solve anything because they will all leave bitcoin behind.

This is an issue, because volatility is a contributing factor for hoarding. If you know something will be more valuable in the short term, you tend to hold

on to it, until you get the better price. If I think the Bitcoin price is going to double within the next few months or within a year, and I can get 100%

back on my investment, I will hoard until that happens. A lot of people hoard, simply because they bought at a higher price than what the price is

currently.

It is true. Some people dont want them, others just keep them as an investment because they think the price will rise. I think it would be best to email owners to start accepting them .

I figured there would be no harm in here. I dont actually believe its value will shoot up. But what i do believe is that if not sooner, BTC will surely grow its value.

Maybe some people is trying to get btc without first deposit their real money...so it will be hard to get more and more..and they try to invest their own btc and keep it grow..its why hard for them to spend btc

The problem is as I receiving fiat as a income, I preffer to ged rid of the fiat first because I prefer to keep the currency which I value more - Bitcoin. Obviously there are products like mining rigs where I need Bitcoins only so I have no other choice than to spend Bitcoins instead.

And yes there are fees when buying Bitcoins, so buying Bitcoin with fiat then spending is really not best way imo.