Bitcoin Forum

The pledge:
"I will spend at least 10 Bitcoins per month but only if 1,000 other people will do the same."

Sign up here:
http://www.pledgebank.com/bitcoin1000


Currently Bitcoins are not being used much for what they were originally intended for, which is as a currency to exchange goods and services.

It is time to change that with early Bitcoin pioneers willing to consistently spend at least 10 Bitcoins every month on whatever they like. This base spending level of 10,000 Bitcoins per month will ensure merchants that there is a market out there for their Bitcoin products and will spur further activity and growth in the Bitcoin market.



Sign the pledge and please let us know here that you have signed up.

6 pledges so far

Sounds like a good undertaking. This should be post in the general forum - will get more traffic. I don't see why it'll be inappropriate there.

I hope you didn't sign yourself, otherwise you'd need 1001 signatures, also, what if you get 1002 signatures by mistake!? Oh noes! Then you doesn't have to spend 10.

What.. forever.. or over some more specific timeframe?  Seems like a bold pledge to make given nobody has any idea how much value 10 BTC might represent in future.

True.. 90% of the world's population can't afford spending $80 (current rate) per month to buy random services and products online. Most people live on $1-$5 per day (that is, just to survive)
Hell, even lower and middle class people in first world countries are struggling just to pay bills.

Remember that people in first world countries with internet access are a minority.

I'll be spending bitcoins as long as there is something viable to buy.
I don't see a big market so far; the only things I've bought is extenders from Cablesaurus & beef jerky from bitmunchies.

That is the thing...why limit it to just random stuff online. If you are planning on spending 10 Bitcoins per month, you might put the effort in to get those services you spend money on every month to start accepting Bitcoins. Even poor college kids spend more than $100-$200 per month. If even just for food and beer.

Bitcoins are about having a currency you can spend. If you cannot spend just a small bit per month then how do you expect to be able to use it as a currency in the future?

$80 is many weeks (or even a month's worth) of salary to billions of people.

I think you're forgetting what is pocket change to you or me, is life-changing money to someone else.
People who can afford internet connection, computers let alone mining rigs are ~5% of the world population.

Consider the fact $100 is the median salary in India before taxes. 10 bitcoins at $10.5 each is more than 100% of that.
And India is not even nearly the poorest country out there.

1 bitcoin per month would be realistic, but still too much for a lot of people

10 BTC is less than $100, even in poor Latvia it is not a big amount per month.

10 BTC is currently $103 dollars.
http://www.bitcoincharts.com/

Latvia is not poor. Latvia is a first world country with a GDP of $14,700 per capita and houses 2.2 million people.

India has a GDP of $1192 per capita ($99 per month)  and is a third world country which houses 1/6 of the world population at 1153 million people.
http://search.worldbank.org/quickview?name=%3Cem%3EGDP%3C%2Fem%3E+per+capita+%28current+US%24%29&id=NY.GDP.PCAP.CD&type=Indicators&cube_no=2&qterm=india+gdp
10 bitcoins is more than a typical indian makes working 16 hours a day in a month.

I suggest those billions of people do not sign this pledge then.

Out of the other billions who spend $100 per month we might find 1,000 of them who would like to use Bitcoins.

Ill sign this, I do think its too large and too vague, I think 100 people would be fine. Make it for a year or something. Also Bitcoin prices fluctuate making this problemmatice.

Maybe you should allow to pledge to spend an amount they choose each month. I can't pledge 10 because at the current mining difficulty that's about all I earn each month.