Bitcoin Forum

I have a feeling the financial system might collapse. This can cause severe fiat inflation. So I decided to go Bitcoin only for my finances. I keep some fiat in the bank for paying bills. I'm a small business owner and I accept bitcoin as a payment method. It frustrates me that very few use it. But it makes sense people want to spend their devaluating fiat instead of promising bitcoin.

I want you to consider this as a hodler. If we all hodl our coins, they don't circulate.

A crisis is coming. It will be a financial/debt/currency crisis and this may lead to an economic crisis. Banks and governments will blame the pandemic.

But the real economy is fine. Shops and bars will open again. As long as people have money to spend, others will keep their jobs.

I want hodlers to start spending their satoshis. Don't see this as buying an expensive pizza. If you buy it with fiat, it's the same as exchanging your fiat for bitcoin, except for the fees. But keeping your money in Bitcoin gives you a nice long term interest. Also spending satoshis is in your interest because it contributes to the network effect. When more people use Bitcoin > it becomes more useful > demand grows > price goes up > you get rich.

Now that we are all at home, it might be a great opportunity to start paying for daily expenses with bitcoin. There are many places where you can buy food online and Lightning network makes it cheap and fast. If you believe Bitcoin will go to the moon, then you should start using it now as a method of payment as much as you can.

My recommendation:

- Don't put all your assets in Bitcoin. Buy gold, silver, solar panels, food, toilet paper. Keep some cash for emergency.
- If you fear your bank will close your account, use an EMI (Electronic Money Institution) as a middle man to buy crypto. There are many of them. Use them as a pass through, don't trust them with your money.
- Fiat is for exchanging, Bitcoin is for hodling, Satoshis are for spending.

Developers did their job making user friendly wallets, now it's up to the hodlers to give the users easy satoshis. They should not have to go through stupid KYC.

Share your thoughts and links to places where to spend.

This is my first post, I want to thank Satoshi Nakamoto for his or her gift to society. Thank you. You gave freedom to humanity and made this world a better place. Stay healthy and anonymous!

ABSOLUTELY WRONG !!!!

An EONOMIC CRISIS is coming, and it will be worse than you imagine, the real economy will be DEVASTATED...  People will not have money to go to bars and shops again like before.  Most people will be broke and barely able to afford food.

While some people will have money, it will be VERY FEW.   Just look at Venezuela if you want to see the consequences of unlimited money printing.   I have news for you, BitCoin will NOT, NOT, NOT be part of the solution.  BitCoin grew up in an economic bubble, where everything went up...  The price of BitCoin CRASHED at the start of the economic crisis, the false narrative of BitCoin as a safe haven is now exposed  :o :o :o

The Dream and initial promise of BitCoin being used everyday just like currency FAILED, and was abandoned by most years ago...   I was smart enough to stop trying to WISH imaginary things into being real in first grade.

WISE UP

Come come solar panel is an asset? However, I agree to your approach which says - don't put all eggs in one basket. That's an wise approach in any market condition.


Banks won't fail. Governments will not let it fail. If banks fail in large numbers, there will be nothing left in the economy and social unrest will begin! However, it's good to invest a small percentage of your income into major cryptos like Bitcoin or ETH.


Nope! Not entirely true! If you are bullish about bitcoin, then HODLing can be a great option to create serious wealth over a longer period of time. But for spending, we need options to spend. That wouldn't happen unless governments around the world steps up with such decision. We only have handful of merchants who accept bitcoin. We need more adoption which can be fueled by government policies!

Don't look at bitcoin as a tool to become outlaw. Rather try for inclusion of bitcoin into the economy. That will make sense in longer term!

And how will they do that? By bailing them out with more money they've printed out of thin air. That can't continue indefinitely.

Nonsense. The whole point of bitcoin is to move away from a system where we rely on third parties, from a system where the government has control over our money. If we need government intervention to promote bitcoin, then bitcoin has failed at what it is supposed to be. Thankfully, bitcoin is doing just fine without any government help.

There are a couple of great bitcoin directories which have been shared on the forum. I use https://spending-bitcoin.com/ a fair bit, and have recently started looking through https://cryptwerk.com/. There are also many great gift card sellers for merchants you can't spend bitcoin with directly.

It's very hard to assume what gonna happen upcoming months but i don't think government or their work gonna fall apart like you said. But i agree with one thing that btc is not about just hold, it's also about using like a fiat money if we really care about btc. Although still btc is illegal in many country so buying food, gold or silver with btc is not possible for them. But situation like this won't be same all time cause soon or later people will use btc as a fiat money. If i have a chance to buy goods or other things with btc i won't miss that chance for sure. (in my country btc transaction still illegal :()

+1 Anti-WO merit.

I'm still giving a chance to bitcoin, though, so I adopted a inverted DCA strategy: instead of buying little each month, I'm going to sell little each month. Some bounces will still happen until the 10-15k area, and it will provide exit points.

Unfortunatelly, bitcoin have failed its main task, which was to provide a safe, reliable store of value, in times of crisis like this one. And the reactions from the little hodler's club shows it have become nothing more than a cult.

I still like the technology, though. In my opinion, bitcoin would be better without derivatives speculation tainting it.

I don't also think why government will fall apart after this although we know the economy on each country is at risk but for sure they have solid plan to rise back again after the big crisis they encounter,  but also I agree with you since same in fiat btc need circulation so that the crypto economy will became healthier since we need those thing to gather more attention from group of institution until we reach on legalization.

And expect the fall down since many people securing their fiat since panic buying still everywhere and the pandemic still uncontrollable so might we cannot see the things we expect for now.

They are succeeding for so long... so much debt which will go foward for future generations (our maybe even our generation).




This is very basic. I dont have those assets you mentioned, only gold. Toilet Paper? Are you from Venezuela? lol
There is no toilet paper in venezuela for a long time already...

 But I think you are safe if you go about 10-30% bitcoin. I wouldn't put much thatn 30% in it.

Having a house is also a good option.

Soft lies mixed in as usual.

BTC dropped to 3900 after Donald Trump made the announcement that the virus could last until July or August Btc dropped  and all stock markets dropped.  Silver Dropped Platinum Dropped Gold dropped a bit.

If you review the numbers for BTC miners  coins are now 6500 vs 3900 and a 16% difficulty adjustment making coins easier to earn happened.

Thus BTC  has recovered quite a bit.  From the panic moves made of  most stores of wealth.

BTC now looks and is a far better investment then:

 Airline stocks
 Boeing Stock
 Hotels Stocks
 Movie Theater Stocks.

Sports in general will take much longer to recover.

Virtual gaming using BTC to play and be awarded as prize money looks much better then  a crowded baseball park.

You are right  about the world changing  from this so I will give you a single hard fact.   But your btc assessment is mostly all soft lies.

I do not agree with OP. If the holders start selling their coins that will make a massive crash in the markets, we need buyers on the markets to make the price goes up, and that doesn't involve the holders, the prise is based on the bitcoin in the market.

Hold all the way! That's the way to go.

What's with all these posts lately about people selling btc and telling others to sell btc? I wonder what the WO gang would say after reading the thread title...

Pessimism and panic is taking over the forum. This recession will be THE biggest test hodlers and the average bitcoin/crypto "investor" will ever see. Cleansing time about to kick off very soon...And what a time to get rid of the weak hands, right before the halving (:

PS: ya'll need to ignore @HardFacts, user is nothing but a nocoiner spouting nonsense all the time.

It was to be a hedge and safe haven when fiat hyperinflates again. It's not a hedge to the end of the world.

If fiat money lose value you will still have Bitcoin. What if everything blows up in your face and you get a world war 3 of everybody gets a deadly virus? Bitcoin won't help you there.

I personally don't think this matters that much. I don't think gold circulates that much either(besides buying and selling through exchanges) but it worked really well as a hedge. If anything, spending the bitcoin creates just a bit of selling pressure unless the receiver doesn't automatically sell the bitcoin at point-of-sale, which is mostly the case. I'm sticking with hodl and juuust a bit of spending.

While spending the BTC definitely adds some selling pressure(assuming you don't immediately buy-back the bitcoin you spend), I don't think it's going to be significant. It's not like people are going to buy cars and houses with bitcoin, it's mostly just going to be game credits, VPN/hosting payments, and such. Using bitcoin to buy groceries and such simply mostly isn't here yet(unless you use those BTC debit cards).

Personally, I'm just going to hold as much as possible. If I were to spend, I immediately buy-back the spent BTC.

This is not the end of the world, its not world war 3 and its not a deadly virus epidemic.

Hi SuprHodlr, We agree that the more Bitcoin is spent in as many areas of the economy as possible, the more it will catch on. This has been true when it comes to new start up industries such as social media. The more people actually use bitcoin (and by 'use' we mean actually use it, not just store it) , the more likely retailers will start adopting it as a form of payment. Here in the US of A the government just approved a stimulus package. Perhaps all those hodlers should come together and release their own stimulus package for Bitcoin! AKA - use it!

How long you can hold bitcoin and altcoin? I have tired with many my assets altcoin like ethereum, litecoin, atom and bitcoin cash price going down. What better have I do with my assets keep holding or cut lost and take profit with investing in other altcoin or bitcoin.

Take a look at the charts. Altcoins have pretty much been on a downtrend for a while already. Altcoins have always been very high risk. If you want high risk? That's what you get, high chances of losses. If you want low chances of loss, get out of crypto and go with safer assets like an S&P500 index fund.

I guess what partly prompted the recent massive selling of Bitcoin are the people who need cash more than just an asset they can hardly spend. As a matter of fact, there was one thread here who shared his/her circumstances to let go of his precious Bitcoin because he/she had no other source of cash. For me, it is not anymore about HODLing; it is about where to spend one's Bitcoin for as basic a necessity as food or toilet paper. If Bitcoin was not as widely accepted as a payment option prior to this pandemic, how much more today when shops are already closing?


With all due respect, I beg to disagree. The economy is far from fine. It is about to crumble down. The current problem is not just about people having no money to spend. It has also become a problem where to spend them. Shops, restaurants, shopping centers, bars, and so on are closing.

And not just these kinds of businesses. Even factories and manufacturing centers, hotels and resorts, airlines, casinos, and many more are also closing down. People are not earning anymore.

There are only two reasons why I preserve my bitcoin: 1) Because for the sake of saving, wishing that it will skyrocket in the near future (especially that halving approaches soon) and earn profits 2) I don't see any opportunities of using it in the reality. Though we are in a crisis today, honestly I am still willing to spend it on his true form because I knew that this is the best way to attain more adoption. But what should I do if I'm just limited on buying prepaid load? So the tendency is to hodl my coins, I have no choice in short :(.
Hmm, it sounds that the shortage of toilet paper in your country is really serious huh. So the memes I saw recently are real :D. Why mind using toile5 paper when you can use face towel and soap & water (for call of nature) at the first place?

Hi Metenjean, unless you absolutely have to get money, we would never recommend selling at a loss. Especially not during the Covid-19 pandemic. Our advise would be to wait for everything to go back to normal, and you’ll see prices start to rise again. The same goes for the real estate market - as an off topic mention!

BitCoin grew up in an ECONOMIC BUBBLE, where virtually all assets were going up.    BitCoins PRICE CRASH in its first economic crisis should worry everyone  :o :o :o :o

The economic crisis will last for many years, yes worse than the GREAT DEPRESSION.  It is impossible to predict, BUT, if BitCoin continues to react this way to an economic crash, BitCoin is DONE, going down to almost zero.

Hard Facts

Yeah, that's right. It is impossible to predict and I think Bitcoin will not go down and reach zero bottoms. The primary reason that all business industries had down and close at this moment just because of the pandemic coronavirus that causes to have a global economic crisis. Once it will be done and the pandemic will totally wipeout everything back to normal.

I tend to agree with the OP, never full back all your assets either real stock or crypto at a time. But as much as possible hold your Bitcoin right at this moment, this isn't good to convert fiat when the price down. But if there are no other resources and you urgently need to buy food and other necessities, that 's the time to pull back half of your crypto asset. Don't lose hope at this time, we still keep fighting from this root of economic crisis.

This is what i want to happen in my country so i can just use my Bitcoin more often than converting in Fiat whenever i am short in financial.but i have no option but to use fiat and only use Bitcoin in limited chances.
your TIRED in your assets but still holding?lol sell all of them if you are already tired because this is not the place for no patience .

So you've lost a bunch of money by buying a handful of useless altcoins, and your solution is to instead put your money in to a bunch of other useless altcoins? That's simply crazy. Either stick with bitcoin or cash out altogether and choose a different asset.

That's not what OP is saying. There is a difference between selling your bitcoin and spending your bitcoin. Selling on an exchange produces downwards pressure on the markets. Spending bitcoin for goods and services helps it to circulate, be used, be adopted, grow, develop. Indeed, spending bitcoin and growing adoption is the only way it will ever move from pure speculation to an actual currency.

Don't forget gift cards. I use bitcoin for a great deal of my day to day spending by using gift cards. I would love to use a BTC debit card but since I flat out refuse to complete KYC, they have never been an option for me. I've had success in emailing a couple of the big gift card providers and asking them to start stocking cards for specific retailers I use though.

As a BTC holder I can say that it is necessary to find a certain balance between a long-term investment and using BTC as the currency for paying for goods and services. What actually prevents many to spend their BTC is the fact that they don't really have anywhere to spend (at least not locally), and if they decide to buy online from other countries they may face extra costs in the form of VAT and customs fees.

All those who want greater availability of retail outlets that accept BTC at the local level, need to do something about it. It is not difficult to send an e-mail to the seller and propose to enable BTC as a payment method, as many do not even know that such a thing exists at all.

BTC as a currency and store of value is something that can work, but everyone should contribute to that end.

Investing in multiple assets is a given when you are trading. Putting everything in one asset shows that you're basically placing it all on that asset. An All in kind of thing when compared to gambling. However, spending BTC may not be the best-given choice, Especially since the market hasn't really reached the time where it would go to the moon. Most especially if it is going to the moon, hodlers would not bother spending their BTC.

As for banks closing down, nope. The money around basically flows depending on how banks manage it. If banks close down, money could be said to have stopped flowing, aka, the economy has stagnated. What's worse than your country's economy stagnating right? It'd probably be better to just have said the country is basically dead.

The right way of investing is like that, we must be able to save our money from the main finance as a reserve fund when things that are needed urgently we can make an alternative.

This is the right investment, of course it would be wiser if we could make investments not just in one investment, but there are some opportunities that we can use and not just in one place, so that developments will be more stable and safer for sure.

BTC  has recovered from 3900 price point to 6500  and had a 15% difficulty adjustment in favor of miners.

That is about 1.91x better for a miner .  Seems like the hardfacts  are once again a soft lie.

Haven't we all learned that bitcoin can't thrive as a stand alone currency? The various downtrends and fluctuating nature of bitcoin shows the entire world how it can't survive  if global economy isn't flourishing. Every Cryptocurrency out there started dropping the moment the world started experiencing a global crisis and it's still in that state till hopefully the coronavirus pandemic got cured. When there is crisis, people will always choose FIAT over any cryptocurrency because of the various vulnerabilities associated with the use of cryptocurrency.

Now is the least time anyone should expect an increase or a bull movement in the price of cryptocurrency as everyone is trying hard to survive with no means of making new money as the entire world is getting shut down with each passing day. Hopefully, when the corona is over we might see a more stable market

You are a COMPLETE FOOL

The ECONOMIC CRISIS is just getting started, and everything will NOT, NOT, NOT go back to normal.  The economic crisis will last many years.   Only a complete fool would not realize that we were in an economic bubble that has now popped.  The economic crisis will be FAR WORSE then the corona virus, there will be no " back to normal ".

Hard Facts

BitCoin is NOT, NOT, NOT a  safe haven...   BitCoin price crashed in response to its first economic crisis, but when your balance goes way down just keep telling yourself it is not true  ;D ;D ;D

You can not buy gold or silver anywhere, but you can still purchase all the BitCoin you want for 1/2 price  :D :D :D 

Hard Facts

Speaking of banks, it's a question that concerns me. I've talked to my friend recently about Trump's idea of the $2 trillion financial package, and we both agreed that they'll be printed out of thin air. Where we disagreed is the outcome. I said I worry it might be too much, and since the US is already not in the best position with that debt to other countries plus the world economic crisis is saying 'hello' already, it can trigger an unexpected decrease of the dollar's value (meaning its purchasing power) or even lead to hyperinflation at some point. He believed it'll take years of printing money like this to make a 40% value decrease...
And as for Bitcoin and the government, I agree that we should not rely on the latter, but retailers need to offer where one can spend money because the current options are very limited and thus spending Bitcoin on essentials is next to impossible (at least, in my country).

Long-term investment does not necessarily mean that you can sped it after a long time of storing it, not just as the term literally mean. Long-term investment has to do with perfect timing in pulling it out, as what you mentioned the balance. Atleast now we have several merchants that accepts bitcoin locally and internationally, it just so happened that we are facing a crisis right now and they are not operating. Crypto payments might be anywhere if people would come to agree that it is a alternative currency rather than just investment perhaps we'll see many markets that offer a crypto payment method more often.

Well having it as a currency and a store of value increases the risk from it's volatility. Just not a good idea for me.

A crisis isn't coming. It's already here. We're in the first few stages of it and it's going to look very bad. If we're already having problems of losing our jobs and price inflation, then imagine what's to come.

I'm honestly one of those who just cannot spend their BTC. I have tried to, but I either hit the "I'd rather hold" wall or I don't have where to order from. Being completely anti-centralization makes everything even harder - now there's no way I can buy any BTC through ATMs anymore and I would rather not buy at all than register on some shitty KYC-abusive exchange. And even if I ordered from somewhere, I'm really concerned right now that it might not arrive anymore.

If you have places to spend your BTC and are ensured that your stuff will arrive, then go for it. Try to create a circuit, some way to use your BTC and then get it back. Try to make the sats circulate around while you still can. :)

USA is going to print 2 trillion dollars for bailouts:

https://www.boston.com/news/politics/2020/03/26/senate-approves-2-trillion-stimulus-after-bipartisan-deal

A lot of this money is going to debt, debt, and more debt.

You are correct, and your friend is a COMPLETE FOOL.  When the inflation starts, make sure you tell him what a total idiot he was for supporting the destruction of the country.

VENEZUELA, ZIMBABWE, ARGENTINA, the list is endless.   This kind of printing ALWAYS ends in hyperinflation, and NONE of these countries started out with the intent of destroying their countries and economies, but they did not know when to stop printing....

BitCoin has FAILED as a currency for common daily purchases, that has been known by the vast majority of people for years now.  Do not live in a FANTASY, you seem smart in some things, so keep informed and never stop learning.

Hard Facts

I'm the topic starter. Some considerations:

1. This topic is targeted at HODLers. If you are a non believer or if it's your understanding that Bitcoin has failed, that's fine. But fight your wars in their appropriate topics. Don't hijack this one.

2. My post is a suggestion. That's why I used the words "consider this", "I want you to" and "my recommendation". What you do with your money is up to you.

3. I did not say stop hodling. I suggested to exchange fiat for bitcoin (buy more BTC) and spend it. You can do both hodling and spending.

For example:

You are hodling 10 BTC.
You buy 1 BTC more and spend 0.5 BTC for buying food and stuff online.
You bought 11 BTC in total and are now hodling 10.5 BTC.

Essentially you will be buying more bitcoin, which drives the price up. If all hodlers do this, it will have an impact on the price. That's the knowledge I wanted to share. Think about it.

I know some merchants will exchange your bitcoin back into fiat, but not all do that. Those who do will regret at some point.

More demand for Bitcoin as a payment method will create more supply. Merchants will be quick to accept Bitcoin if enough people are going to a competitor for this reason.

It takes some effort (exchanging fiat, finding places to spend) but it will help Bitcoin a lot if we all do this.

Good advice. However, it should also be considered that the limited adoption makes it difficult to use bitcoin as a daily necessity, more effective when exchanged with fiat first. In a crisis like this, the most important thing is to hold fiat as an effort to deal with emergencies. On the other hand we also have to keep trying to get income, especially since the price of some cryptocuceerncies is at a low enough level and this is a good opportunity to fill bags. It is great for holders to continue to make certain and continuous purchase of assets such as the Dollar-Cost Averaging (DCA) strategy. The key, we prepare an emergency fund and keep trying to invest by minimizing the smallest possible risk, especially since the market movement is very extreme.

1.   You posted your topic in a forum with a lot of users, what did you expect, that everyone to agree with you ??      You seriously expect to have your " Safe Space " here, and that everyone would tell you how great you are and make you feel good ??

2.   Your suggestion, and recommendation is a BAD IDEA, for the reasons outlined in previous responses.  Stop living in Fantasy land, the idea of BitCoin as everyday currency for common transactions was abandoned YEARS AGO, it is not going to happen.

Hard Facts

Can you give out some explanation on whats the difference among the two? Lol!  ;D Just joking,. I know the feels the positiveness inside you when it comes to bitcoin adoption and people or the community should really use it for it to circulate but thats not the case on what happening now and we all know that vast or majority of people now are holding.Why? they do come after with the profits that it can give rather than on its usage but somewhat we are seeing its application on some services or businesses that do accept btc which is good but talking about on on spending it actively? Im sure that wont be possible for most people.

What a FEEL GOOD FANTASY  :D :D :D

Most people buy and Hold BitCion because they want to get RICH, RICH, RICH.

Hard Facts

In my view as a bitcoin holder, it's not easy to spend bitcoin. The limited number of merchants is the first reason, next in conditions
like this that everyone is panicking because the spread of the corona virus will not spend the bitcoin they have. So the conclusion is
not a good idea to spend bitcoin in conditions like this, I also do not intend to spend the bitcoin I have. But I prefer to hold the bitcoin
that I have until my selling target is reached.

I think that there is a difference between holder and hoarder, holders are waiting for the right time to spend it while hoarders tend to hold on and not spend a satoshi for some transactions, the problem is not the holders but the hoarders.

What vulnerabilities does crypto suffer from? That it can't be printed out of thin air by the government? That it can't be rapidly devalued, causing huge losses to the average person so the government can bail out some multi-billionaire banks, airlines, restaurant and hotel chains, etc. Sounds pretty good to me.

The US is in a terrible position. Going in to 2008 the Fed had a relatively small balance sheet of around $900 billion, and interest rates were at 5.5%, giving plenty of scope for them to be reduced. Going in to this recession, which is likely to be more severe than 2008, the Fed already have a balance sheet of well over $4 trillion because they haven't been able to reduce at all in the last 12 years, and interest rates are already at 0%. Add to that a growing national debt and a growing budget deficit. The dollar's value has been on a steady decline for over 100 years. This will only accelerate it.

+1 here because Holding is enough time to make currencies circulate again and established another High value while Hoarding prevent the market from growing again so lets support Hodlers and discourage Hoarding because this is not helping the market and the community.
and this is why we much need Bitcoin ?

Most especially if you really need money during this Covid-19 pandemic, you should your bitcoin as a fiat because you have nothing to support for you family. As this quarantine is still continuing, you can't go to work because of the safety that the government wants you to achieve. Holding bitcoin for so long and not using it properly are for those who are greedy and afraid to lose their money. Yes, it is true that the reason why you invest your money in crypto is for the growth of you future without assurance. Bitcoin is volatile and every bitcoin holders know that, and that's the reason why wise holder uses some of its bitcoin so that he have something to use for as he can work to have a salary. Prioritize your health and your family first before this bitcoin.

If you really don't have any means of acquiring BTC then I think it is reasonable for you to buy using fiats though. But in return, you can actually sell your BTC for goods and services to make sure that you're giving BTC a value it deserves other than converting it back to fiat and making it stuck to its fiat conversion rates. Right now, we are still in a massive start of influencing people about bitcoin, and if there's no mean for us to make it possible, let fiat help us, I'm pretty sure many will recognize its true worth in times like this, when fiat cash might be less valuable.

You say several? Have you ever bothered to look at how much that actually is in numbers? Definitely more than 1000, and if you don't believe me, check out the following link : https://spending-bitcoin.com/

I also don't see why anyone would stop receiving BTC during this world crisis, because the emphasis is on using as little as possible fiat, and paying with cards or BTC.


BTC has always been volatile, you can't just change it because you do not like it. You always have the choice to use it however you want, or to find something less volatile.


If you meant holders, then you should know that they believe in BTC, how they can think BTC has failed? This topic is (as many others) attacked by hardfact troll, so next time check option "Self moderated thread" so you can delete any post. There is also a option to lock this thread.

We can't really predict what will happen in the coming months or years, still the bitcoin is in a low price compared last last month and it is unexpected. Also this virus destroyed all of the economy of the countries affected by the virus, their stock market really crashed brought by this pandemic. It is still a question, how countries will recover all their losses economically and physically after this virus ends soon?  It is hard to accept the fact that people are losing their lives because of financial problem that they are facing together with the health problems that the virus can do to their health. We really need to be practical this time, we should spend our money wisely so that people will benefit from it, a little help will do.


That's why you need to do exchange so that you will convert it into fiat, but if it doesn't required so use P2P. In doing P2P you should know the person so much, so that you will prevent being scammed. Converting your bitcoin is necessary most especially if it is for the sake of your own health and family. You need to buy your necessities to fight this virus as this quarantine is continuously active for several weeks or months, we don't know how long this will last.

I am tired become holder bitcoin and altcoin because buy with higher price and have to sell with lower price, I think its not good way how to get much profit with bitcoin and altcoin, then I know selling as soon possible when coin listed on market is the best solution and take much profit.

People need to.decide for themselves what to do. Every Bitcoin user has different goals and different reasons why he's dealing with Bitcoin at first place.
For me the best option is combination of holding and spending.
I think that Bitcoin was created with purpose to be used in real life for real things, that is why isn't good just to keep it in some wallet indefinetely.
On the other hand by holding Bitcoin on longer period of time you have chances for further profit and also it can be used as savings, so the balance between holding and spending is the key.

Buying on a peak price is too risky, so better to plan on your next trade or buy now to get back your losses. Hodlers can spend their bitcoin base on their timeline, we cannot force them to do it right now. Diversification is a must, and I’ve learned a lot from the current situation, we should have an emergency fund to buy our basic needs or even to buy bitcoin again when it becomes more cheap, the best to make profit is to buy when there’s a big panic.

There are a lot of people holding their coins because they think they can get a lot of market income or profit is they hold their coins because they know the crisis is happening in the world of crypto but this is wrong because the market price of the bitcoin does not circulate properly and it may cause of pulling down rapidly the market price or the bitcoin even the halving is coming we need to make sure it is rapidly growing and giving a good market price soon and this is the right time to make more earnings still we need to focus to the current event to survive first than your making earnings.

People sure do act like it is. Just watch the news or go to a grocery store.

Do you remember any other instance where cinemas, pubs, shopping centres and restaurants were being closed all over the world for more than a day?

Even though it's not the end of the world it's still the worst situation since Bitcoin was invented.

Thanks for this post. I share the same thought of starting to use BTCitcoin in our daily life.
I proceed in the following way due in my country there are not many sites that accept Bitcoin. I exchange a small amount to FIAT to buy groceries and pay my bills.

I think you don't have to feel tired to hold bitcoin and altcoin because you are not alone. Well, we know that the market can not be predicted, and we know that we need to be patient to face the current situations. Hold bitcoin and altcoin is the other way for people from selling at a lower price because they can trade their coin, especially if the market increase like today. In these few days, we see the market can have good movements, so I think you have your chance to sell at a high price and buy back at a low price. But that is up to you, which way you want to do.

It is possible that the Bitcoin market simply won't be as attractive to buyers because of this crisis and it may even implode due to low prices and higher mining costs post halving, but there is plenty of long term investors and all that's needed is a little momentum and we should have a solid outcome

You mean sell it in cash?

Is this like what happened before?
Government telling the people to spend their money since so much are being saved in the piggy bank and not in real banks?
But, all the nations are having the same problem.
With that, all of us will have financial and economical issues. Which at the end, it is a race into which could perform best with pushing the economy to be better in a short amount of time.

Yes, bitcoin didn't make it big in this crisis and I believe it should have. The whole economy went down in this crisis and god knows what people are doing with their money but they haven't invested much in crypto or gold or anything. The market has just went down which means most people are holding on to fiat which is another risk to themselves because if fiat falls then it would be a nightmare to them.


No OP is talking about 'spending' bitcoins. There is a difference between 'spending' and 'selling'.
Spending bitcoin means to buy things with it or use it for making payments. Selling is to sell bitcoins for fiat, cash etc..

It seems like the OP wants to convey that if the rate of bitcoin adoption increases then it will affect the price of bitcoin itself. The adoption of bitcoin so far has been growing rapidly in various countries and through the lightning network users will easily spend their bitcoin to get various needs.
And this is what I can understand about what the OP means.
1. The government blames the pandemic for economic collapse.
2. Crypto users are expected to maximize the function of bitcoin as a currency
3. Buy some bitcoin to increase usage and spend it with the lightning network.
4. If bitcoin adoption increases, demand will also increase so the price will also potentially increase.

Maybe this is what I can understand about the OP opinion above, if I am wrong then dont be afraid to fix it.

You do have a good idea, and I have plans to store more money in bitcoin but the problem I'm having is that I don't any more money to invest in Bitcoin so I'm going to stay with the ones I already have invested. Right now I'm trying to save up a lot of money in fiat and also use these money to solve most of my needs at this time and things even got costly in my locality, seems like everyone is taking a privilege of this pandemic and using to make things costly.

So, this is not a time I want to be messing around and making investment, rather I need to keep more of fiat and use it for the necessary things. If I was one of these millionaires, it wouldn't be hard for me to pump more money in bitcoin and add extra coins to the ones I already HODL.

It's so sad to see how people put all their eggs in one basket. Even with the kind of optimism I have for bitcoin, I can't wake up and invest all my life savings into it. Cause the day the basket slips off the table, you'll have to mop the gross from the eggs which you can't use to prepare even an omelette. See, we all should be smart! As the OP has said, invest in other things too. If you have 10,000 USD, don't go all bitcoin, or all gold, or all whatever. Split the money in favourable divisions and invest in various places. There's no way you'll wake up to a bad news of having lost all you have.

I would love to actually spend some of my coins and help the economy but there aren't just enough merchants out there that I can buy from. As of the moment, I'm out of coins, and most of my assets in stocks are also tanking. Basically my world is in shambles but there's nothing I can do about it but to wait this thing out and start over as if it's 2014 again. I'm pretty sure some had it worse than me, seeing that the pandemic took the world in a heartbeat. Right now the only sane investment is in gold and other precious metals as cryptocurrencies seem to be shaky as well. Even that in itself is risky as no one really knows when these things are over so keeping things in cash is still king.

And what do you expect will happen with your coins once you spend them in a store?

Some will get exchanged immediately by a payment processor and some will be sold manually by the business owner because he'll have to restock and I doubt all companies he gets his stuff from accept Bitcoin.

What you understand is spending is not much different than selling for fiat. The only difference is that it's much more satisfying when you know you let some business owner know that accepting Bitcoin was really a good idea because there are clients who choose this type of payment.

WRONG, WRONG, WRONG...

BitCoin FAILED as a currency to make common payments for many real and valid technical reasons.  BitCoin is just NOT going to be used as common currency no matter how much you want to " wish " it into being.   I stopped " wishing " things into being when I was 5 years old, some people are just to dumb to ever figure out it does not work. 

Hard Facts

The list of alternative investments are mostly good for short term and some are for long term but are having quite a more stable market value compared to bitcoin. Indeed the alternatives has lower risk of losing money but if you are really an investor you would more likely seek to an investment wherein risk is present but profit has a tendency to move faster because it will just be a waste of time waiting for not-so-big profit for a long period of time. It would be alike with saving your money in the bank. Risk should be taken as something usual in any investment. In bitcoin, such thing is obvious but people are still doing so for the reason that profit is enough to motivate them to invest, and wait because it was proven to be worthy.
This is why Bitcoin and other cryptocurrencies are more likely being used as an investment and not to its actual purpose. But still, people do benefit from doing so, which I think is not a bad thing afterall.

Yes there are lots of places where you can buying things online with bitcoin, but most of them are in the US, and you will get your package delivered the same day or next. But what about those in other countries where bitcoin is not widely accepted?

We have no other option than to just buy Bitcoin and hold them and only spend when we have transactions to make. The last time I made a purchase on a site that accepted Bitcoin it took me like more than a month before it arrived, because the seller had send it through mail services. Damn, that’s unlike local services where you get the product the same day. You can’t buy food online from a site that is in another country, before the food arrives it will decay.

We cannot push other people to spend all of their money or bitcoins because they know the possibility of getting earnings too the same with the bitcoin also the halving is coming there is a chance that the market price of the bitcoin will increase for the next coming months and while the market price is the coins are too bought a lot of bitcoins are the lower price and sell high that basic concept you can now make a lot of earnings. Still, it has an effect to the whole market of the coins even many people bought bitcoin because many people hold their coins and the transaction of the bitcoin will not circulate and the market movement does not have a huge changes.

Remember that scarcity endows a thing with value, so to say. If more people hodl back their Bitcoin and don't sell, expectedly it will cause scarcity because demand will become greater than supply and price will begin to head up. We all want Bitcoin to appreciate in price, isn't it? So, don't you think this advice of yours is contradictory to the general and collective wish of the community?

Then find somewhere local where bitcoin is accepted and shop there. You can't really blame bitcoin for long delivery times if you are choosing to shop from a company based on the other side of the world. Have a look at some of the following sites and see if you can find any local merchants or online retailers based in your country:
https://coinmap.org/
https://spending-bitcoin.com/
https://cryptwerk.com/

If not, then have a look at this thread to see if you can buy gift cards with bitcoin for any local retailers:
Gift cards providers (https://bitcointalk.org/index.php?topic=5208530)

If not, then go out (well, maybe not at the moment, but after lockdown is over) and speak to small, independent, or family-run merchants and retailers. You might not be able to convince some big corporation to start accepting bitcoin, but in my experience, many small businesses will at least look in to it and consider it if you talk to them about it. Convince any nearby relatives, friends, or other bitcoin users to do so too. After all, these retailers want your business, and if accepting bitcoin achieves that, then many will be happy to try.

As for me, I'll keep hodling my bitcoin and altcoin as long as I can. It doesn't matter how bad the market seems unfavorable now. This is the time to be investing in more if you can. This not the right time to give up. Bitcoin will surely put a smile on our face soon. It's not about how far we've gone, it's about how rich it will make us be at the end

I think that this would be the great option we have right now, for me I will not spend my BTC yet because I am still believe on bitcoin I know the it can still survive just like what happened before. If you are really into bitcoin, you know that bitcoin goes doen for about 1,700$ before which is lower than what we have experience right now when bitcoin reaches for about 3,900$ and now turns back to 7,000$, bitcoin is still safe have, it won't be dead.

The best thing to for now is just to keep your bitcoin while the value of it is not yet suit on your expectation and wants because bitcoin will rise again at the right time.

Currency circulation is always the good way to keep the things going good as when a single person do pay bills of anything then the same money through that bill counts for anybody else and going in the same loop it comes towards the same person after the circulation for many persons.

I also think that since the price reduction occurred, until now the recovery of the price of bitcoin is quite good. however, halving will arrive soon, and it will definitely affect the price, whether it's a lot or a little. I think that prices will soon increase in early May. spending the bitcoin that you have right now is still your choice, but try to think it over. we are waiting for this moment, and when it gets closer, you give up? Well, you should see the results first.