Bitcoin Forum

Bitcoin => Bitcoin Discussion => Topic started by: uMMcQxCWELNzkt on May 19, 2013, 12:23:10 PM

Title: Hoarding Vs. Spending
Post by: uMMcQxCWELNzkt on May 19, 2013, 12:23:10 PM
To open this discussion up I would like to ask, does Bitcoin's long term success depend of users spending/buying (goods, services, etc...) with the currency?

If the answer is yes, which I believe so then how to we overcome the following dilemma? I often notice posts from users who believe in Bitcoins long term potential, yet they follow the sentiment by suggesting that they are hoarding the coins as a result, for when they are worth $xxxx amount. I am personally guilty of this too, it is difficult enough for me to get Bitcoins in the UK, that subsequently I am also hesitatant towards spending them. I realize the market is new, commerce channels will slowly improve with new Bitcoin related features. The question is, do we need to start spending our Bitcoins before the ball starts to gain any real momentum?

Perhaps this is one of those catch 22 situations:
Bitcoin users waiting for Bitcoin to go mainstream before spending...
Bitcoin waiting for Bitcoin users to start spending before implementation into mainstream infastructure...