Bitcoin Forum

Hey everyone!

The price of crypto has been pretty volatile over the last few weeks and BTC has once again sunk below 11k. This made me curious about what the community does or plans on doing with its crypto assets today and in the nearest future. Do you hodl and hope for the price to skyrocket, or perhaps spend some of your coins on various goods and services, and if you do - what do you purchase? Is it even worth spending your coins on anything you can get using a credit card?

It's very wrong to hodl if the market movement is not looking good that's why its good to select for now to do a daily trades and accumulate more while the price is volatile and just hodl when trajectory is going upward even more harder just like what happen on 2017 bull run events. But for now I don't even think to use my coins on my purchases since my main goal is to roll it and earn some good profits.

I do both. When I'm out of cash, I have to spend and sell it for things that I need. Usually, that's the process, sell -> cash -> goods/services.

I don't use credit card so I don't have that mindset of buying things through credit. For me, if the thing you are purchasing can be bought by cash or by crypto and you badly need it. That's always an absolute worth it purchase.

IMO we need to have more liquidity not only on-exchanges, but off-exchanges as well.
Adoption above HODL.

We need to show people that crypto can be useful for payments.
HODL--> crypto = stocks.
Use it for payments --> crypto = money.
"money" is a more attracted word rather than "stocks"

I am starting to use low-fees cryptocurrency like DOGE and TRX as a payment for my transaction. even if the people who involved in my transaction didn't use it, I suggest them to have a wallet  ;D ;D ;D
and maybe I will use Bitcoin LN too (because I am still learning about it since yesterday lol).

I still hold bitcoin, and I don't want to use bitcoin to purchase something. I prefer to buy more bitcoin now as the price is low because I see the chance for bitcoin price to go up again. And no matter bitcoin price needs a long time to increase and hit the next highest price, and I will not have a problem because I want to make a big profit later. I don't use a credit card because I am too afraid that my expenses will be bigger. I prefer to use fiat money if I want to buy something.

If you have money in your hand then just keep using that for your daily needs and avoid using credit cards unless you have steady cash flow into your monthly income.Bitcoin and fiat both are same when it comes to spending in terms of value so if you want to save then save it or just spend it as your wish.

I prefer using my BTCitcoins for what they were intended for: "To be used normally and not to be held in a place as an investment".
^{- I mostly purchase digital stuff.}

I see no difference ^{[regardless of fluctuations and other things]}.

I am an active day trader so I guess I don't qualify as some one who hodls. Once in a while i do withdraw some profits to spend.

I mostly purchase giftcards, subscribe to services that accept Bitcoin as a payment method and also do mobile refills. It's worth it spending cryptos on anything my credit card would do because it encourages businesses that accept crypto as a payment method to continue supporting crypto.

If you already purchased bitcoin then I suggest t hold during the price dumped and instead of panic selling just accumulate more for the future of having profit. Bitcoin investing is not intended for a short period of time, you need to patiently wait when the market will become bullish and of course cut your profit once there.

I never purchase using my bitcoin, because I think that every now and then it is hard to find even a fraction of bitcoin. Just save it and convert to cash when there is hype.

Pretty oppotunistic of yours to make this comment after the market dipped though slowly over the time almost a month.

Transacting bitcoin is often not an option in many countries where the governments have put a grey zone on it, somewhat semi-legal status and thus many have to keep storing their coins till they get a P2P deal done. These are often risky but the only way to cash out your bitcoins, so you need someone trusted from your community.

Credit card payments are available though at the big fee. There are some service providers that allow such transactions but you are again at risk here.

Spending coins on online stores is still a very small market. You dont get daily necessities but just bitcoin-themed products on such markets which some people proudly promote - like bitcoin tee-shirts, mugs, caps. What use do these junk have anyway, I mean I would rather buy some stuff that I can use than buying clothes with bitcoin.

We have another option to use bitcoin such as trade bitcoin for making more profit, or if you don't feel good in trading, you don't have to do anything except hold your bitcoin and wait for the price increase. Bitcoin investing will be a short, medium, and long term, but bitcoin can be the way to make a profit from trading. Many people already use bitcoin to trade, and many use bitcoin to purchase something on the internet.

I am using bitcoin to buy a product in the past, but I feel that I need to hold my bitcoin because I am waiting for the next bull run. I know that patients will be necessary in waiting for the next bull because we will see the price will be up and down many times.

For me, I have different uses of Bitcoin these days.
I used to hold Bitcoins since when I started to know what Bitcoin is and I am happy that I am still holding them.
Holding Bitcoin for me for a long term is important, as time goes by when I am adding Bitcoin to my bags, the price on which level I bought starting become no matter to me.
Speaking of using my Bitcoins to purchase some goods and services. I am using some of them especially when I am able to get some Bitcoins for working some small gigs online.

I always end up on this option since I can't use my bitcoin directly since there's no merchant yet accepting bitcoins as alternative payment option, but others could select to hodl or whatever they want on their coins since they are the one who's in control. But  in this situation best to select to trade for short while and hodl when market is on hard pump.

Personally, I would rather hold my bitcoin now, no way that I'm going to use it because I'm a firm believer that the price will eventually pick up, maybe not this year, but perhaps a new all time high can be reach in 2021-.

Maybe there are members here that do used their crypto to buy stuff or even pay some bills, but not me. I'll stick to the plan of accumulation (this is a good time) and then sell some when we hit new all time high. What if it didn't hit all time high as predicted? Then I won't sell, simply as that.

As I see most of comments above agree on holding if they don't do trading, but holding is just common cases those people who had Bitcoin. I don't think if they will use this to pay a bill or purchase something online. Probably there is but it's rarely happening than the common transactions.

As a matter of fact, I saw an article that says, it is estimated that it has 42 Million Bitcoin Wallets (https://www.bitcoinmarketjournal.com/how-many-people-use-bitcoin/) and only 7.1M for the active users globally. Even in trading activity, it has only an estimated amount of 13M users in Coinbase which is very common users are in the US.

Others are payment processors are:

• PayPal  -- 235M
• Mastercard  -- 35.7M (for the US users) and 604M for International users
• Visa Accounts -- 336M (for the US users) and 736M users globally

Source: (https://www.bitcoinmarketjournal.com/how-many-people-use-bitcoin/)

So, I think even if Bitcoin will pump or dump, holder's choice is still HODL and never use to purchase.

In one side in order to crypto currency get mass adoption we need to use it as mean of payment. Maybe I'll use it when I found a coin where its fee for transaction is low and have a fast transaction proccess. We need to do that, I just thinking if crypto currency only use for an investment place only then we just need to wait that they aren't worth anymore.

There will be many crypto user who will sell the coin because they are aware that the coin doesn't have an intrinsic value, they only use as a speculation place where there is no one who having it. Also in another side, I hope that my country will legalized it as mean of payment soon. So as there will be many merchant who will accept crypto currency beside of money fiat.

I'm a fan of hodling my assets until it gets a decent price before j sell them and it surely works, but the time and the patience is needed for it to make hodling profitable, But when i spent some of my bitcoin I commonly use it on online shopping, so i won't use Cash on Delivery option, but mostly I buy another coin instead and accumulate it again slowly.

I think no need for a question like this, in general. Just be on our usual as before.

Simply, if a person needs to convert it to fiat, then go. If a person wants to hodl, then go.

What matters is, we want to maximize the advantages of what bitcoin can bring us, on whatever the trend.

I choose to hold as you and trade my bitcoin to gain more profit from the price volatility. I feel the profit is not too much for me, but it is enough to save some profit every week. Trading will be an alternative option for people who want to increase the bitcoin amount that they have. But you can't always expect to make a profit every time you trade because, with the volatility of the bitcoin market, you need to have skills to know when the good time to enter the market.

Perhaps, you should analyze deeper to find the low and high price to try to buy and sell. But be careful if you want to trade since bitcoin price still at the downtrend.

I agree that striving towards adoption is great, but where will people that do not own any coins get it from apart from exchanges? How many of them would be willing to purchase crypto and waste money on exchange rates and commissions? What could motivate ordinary folks to waste time on something like this, if there are less complicated means of doing it, like paying with a debit card or wire transfer?

When you are truly a crypto enthusiast or supporter then using up your own coins on various services or buying up goods will really be on your main line of interest but there are
people who cant just afford on using up their coins if they would able to do so just like on their typical fiat money transactions since they do know that crypto investment
does have potential to make even more money or profits then they would just simply choose on saving it up rather than on spending it.When it comes to decision making
then its up to you on which side you are on.

Going back to read up into Bitcoins whitepaper then it do particular talk about on being a digital currency that would really be used on peer to peer transaction.So basically talks about being a currency which supposed to be
used often.Here's a pdf link in case to those people who do like to read it up https://bitcoin.org/bitcoin.pdf. On the other side for those people who just tagged along just because they have seen big gains neither from net
or from their friends thats been involved to crypto then they are the ones who do believe the opposite or the other side that it is much worth to be hold rather than on using it to circulate.This had been quite a debate or
discussion for how many years now but to know that each people do have the rights on what they''ll gonna do into their own coin possesions.

it may sound that its not worth it but if you will think again and think of what it can do or contribute you will say that it is actually worth it because it do supports merchants that accepts a crypto on thier business and this also encourage them to continue what they are doing because they see that there are also people that are interested to use a crypto . if you can convert the money on your card to crypto and then use that crypto for buying things , thats also a good idea .

I hold bitcoins and I will continue to collect bitcoins, I have money and I use to buy bitcoins at the current price, I am sure my bitcoins will go up in price to the sky and I will get a lot of profit.

What a strong confidence for good future and if many people will think that way provably we can see a lot of changes on the price in future but things are different as other people doesn't want to hold due to some bad things happen for the past year, remember bitcoin suffer from the dump and might it will happen again so I suggest to have atleast 70% hold and trade the 30% to possibly gain more by doing this option.

Everyone do have its own goal or target when it comes to their crypto investment, neither they would go for long term accumulation or do actively trade for short term profitability.

Price movement or volatility is always been part because if this one doesn't exist then we wont make money and this would only be similar to fiat.When purchasing up things online or even

on services offered, then its up to someone if he would use up his crypto to avail those service or buying up something or rather would opt out always with fiat and save up crypto for the future.

Its a matter of choice and these decisions will really differ for each person.

But as much as I love crypto,,, it is not possible to opt out of fiat at all. And I bet you very few people are able to do that. Even those who claim to live purely on crypto actually what they did is bought a house and a farm (thinking of that Dutch guy who sold everything for Bitcoin) so they are self-sustained. Still need fiat to pay bills!

I just use it daily regardless of what is happening because I believe in cryptocurrency over fiat, but at this point I think that both holding and purchasing can be good choices. You'll likely see increase in value from holding, and through transacting you'll be increasing the value through usage and promoting further adoption.

Very interesting time now for cryptocurrencies in coming months. Holding big coins like bitcoin,eth might give a great chance for profit by you can not predict in short time. If you have some big money in crypto then don't hold all money on any coin take some for daily trading to take some profit. cryptocurrencies are very volatile and they can dump very hard at a time. It will be very hard to recover in short time specially in Q3-Q4.

The risk to lose huge amount of money is so thin if we truly decide to trade some of our balances and put the others on hold since we can possibly maximize our profit gaining for taking this option. But all things are possible and let should learn from past bull run and past bear market since those experiences can help us to learn and earn, also those scenarios creates a different type of opportunity to holders and day traders.

You can't spend your cryptos for most of your purchases right now, still we are ahead couple of years for this thing to happen.And people really not going to spend their cryptos right now, they can use their fiat money for that because converting crypto into fiat then spending it will add the extra expenses for the same kind of purchase.And don't use credit cards as well for luxury buyings unless you made huge profits from this economic stock market crash in the early 2020.

Crypto is an investment and every investment comes with a risk but with a wide usage of crypto especially Bitcoin I think it's a good investment to hold for the near future.

Yeah the value have high potential to rise so this is really best for long term holding if you can afford to take those big downward movements happening month by month.

Also I must say don't rely on long-term hold only there are more ideal ways to earn and the current market movement is pretty much outstanding for trades so try also to do a day trading since it's suitable for this current market condition.

No matter what, BTC will hit new records in the upcoming year(s). So as long as you earn or buy BTC at low prices, you can spend some of them buying anything you want.
It will be better though to trade them instead of buying goodies... 8)

Lucky if you do able to purchase things directly with crypto but we know that adoption isn't really still on the global scale for you to make transactions from time to time

which would result that you will still need to convert from time to time to make up those common purchases like your living expenses etc.

Majority are holding it and treat it as a store of value.

I'm a big of bitcoin so I always have faith in it that's it going bounce back each time it falls, so anytime the price drops, I normally hodl till the price goes back up then I sell.


Its worth it man, I normally enjoy using my crypto to buy or pay for goods or services online, recently I learnt how to recharge my cell phone number using crypto and since then have been rocking it, it's super fast and I don't have to leave the house to the bank where there's an ATM to withdraw from, before I can buy what I want, I just stay at home and pay, others maybe dislike it, but for me I actually love using crypto to buy things instead of credit cards.

It is depend on someone, we can force or suggest them to hold bitcoin or all altcoin for long term or even short term investment. There is no guarantee for them to get profit in it, but I always suggested to anyone who start to having bitcoin/altcoin they should know about bitcoin/altcoin itself and know how to trade, at least the basic knowledge to trade.

We already seen there are many cases that someone was complained when he has bitcoin. He came only from someone else suggestion and indeed he will be interested to the volatility of its price. So, when he has bitcoin they will not know the strategy between sell or he keeps hold it. His intention is to get profit but they don't know how price that should he gets.

Holding bitcoin without spending it on anything is somehow against its primitive elements. However, there is not many goods to be bought with bitcoin and most of the things purchased with bitcoin are more expensive than using fiat/credit cards. Ironically, buying things with discount coupon are considered wiser than using bitcoin

Therefore, nothing is more important than holding bitcoin right now. It may not be utilized in the real life payment but surely it will give us a chance to multiply our capital. An uptrend is forming at the moment, also, bitcoin has reached $13000. Will you spend your bitcoin blindly ?

Good. But you buy more bitcoin if the price drops because that is your chance to have more bitcoin at a low price, and I think that can reduce your losses because you buy bitcoin at a low price.
But if you don't have much money to buy bitcoin, hold it for more will be the best thing you can do.
It will be better if you can trade bitcoin, so you can buy and sell to make a profit, and you don't just wait for the price goes higher.

I tried to recharge my cell phone before, but then I stop to use the service because I prefer to recharge using fiat or transfer from my bank account.
I want to hold more bitcoin and try not too often to use crypto or bitcoin to buy something on the internet or offline.
I always stay away from using a credit card to buy something online or offline because I can not feel comfortable with the fee, which is too high for me. I prefer to use a debit card or use paper money to buy those things.

I don't see any against on Bitcoin about holding since if we look on the way how it trades for sure you can say that holding is much the best decision you can do when the market is pumping since we can earn thousands of bucks or depends on how much capital we have intended for trade.

Although there's less merchant accepting it but still we should look the positive since if we will dismay for that matters for sure we will end up leaving it and seek for more impossible things

For now focus on profitability what bitcoins can offer since the main goal here is to earn.

Hodl for sure,  cause im bullish starting next month up to 2021 why? because of paypal's acceptance to buy and sell crypto on tjier platform and i think other big companies will follow soon maybe next  year so i hodl my crypto.

I agree.
Paypal gave us the strongest green signal for HODL. Paypal is still one of the largest payment processors for intentional payments, a lot of people use it in digital economy. If we will be able to exchange paypal to crypto and vice-versa -- It will have a huge impact on the crypto economy and potentially on digital economy as a whole.