Bitcoin Forum

I'm just wondering why I would ever spend any of my coins when their value could one day be at least £1000 or more? I'd just be like that guy who spent 10k BTC on a pizza which is worth up to $750,000 now. Without buying it is really just an exercise in putting infrastructure in place to support the system which one day will be useful.

I know some of you have made Bitcoin purchases, but why?

I've made a ton of BTC purchases. I consider the conversion at the time, decide if it is agreeable, and do it. In a time of turmoil my purchases are reduced. In the near future, when I accept BTC, despite volatility, I'll accept on the 24 hour average and if I decide it is a risk for business to hold, I will sell at market rate at the time for the equivalent, if not, I will hold and speculate. There will be only a tiny portion of my business in BTC I suspect, so the impact will be minimal while helping exposure and allowing me to speculate or hold/spend coin. Some of the coin I receive, if any, will go to further purchasing products with BTC, such as what I can find here that will accommodate or complement what I'm trying to offer. I've contacted a couple of folks regarding it... So I'd like to hold and buy, trade and sell, use, give, and receive. I like it all, in any state of the market really.

Why? Because without any purchases the market won't grow, it will only decrease more. More purchasing/trading -> better economy.

We are shareholders ? :o

Just rebuy the coins you've used. Problem solved.

Assuming you can buy for the same price and buy at the time you sell then it's fine I suppose.

Do you eat pizza? If yes then you go to the restaurant, spend 10$ or so and eat a pizza right?

But... if instead of eating a pizza you buy bitcoins then you would have 750000$!!!!! Then why do you still eat?

Exactly.  Why would you purchase anything with your non-bitcoin fiat currency right now?  Any money you spend on anything could have bought an equivalent value of bitcoin at the current exchange rate instead.  Then you could have held on to the bitcoin until it is "at least £1000 or more".

What's the difference between spending £100 worth of bitcoin on something or spending £100 directly on something instead of buying bitcoin with the money?  Either way you have £100 less worth of bitcoin than you would have had if you didn't make the purchase.

Note, this is near perfect proof that the "Oh noes! Deflationary spiral due to hoarding! Deflationary currency can't survive!" warnings are wrong.  If deflationary currency were to put a halt to spending and force hoarding, then inflationary currencies would already be suffering the exact same fate.  Why would anyone ever spend any inflationary currency on anything when they could convert it to something deflationary and hoard it instead?

I would even argue that pushing people to buy stuff by devaluing their money in unhealthy for a society.
People should buy stuff, because they want it not because they fear their money will buy them less otherwise.

I get the point that if he'd not converted and bought with USD it would not be much different (apart from fees to buy the coins).

It's really a trick of the mind. Going from buying a pizza for $10 and then the next year buying it for $20 looks like you saved money in the past.
But buying with BTC looks as though you've gone from buying a pizza for 100,000BTC to buying one for 0.2BTC, looks like a saving and like you got ripped off back there!