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Question: Would/Do you spend your current bitcoins in stores (or online)?
Yes - 215 (54%)
No - 183 (46%)
Total Voters: 398

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Author Topic: Do you actively spend your bitcoins?  (Read 256540 times)
mookid
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May 10, 2016, 05:17:27 PM
 #1581

Yes, I use Bitcoin as a way to protect myself from FIAT inflation (250% last year in Venezuela). So I pretty much have all my savings stored in Bitcoin (and Ethereum), then I use a local bitcoin exchange to convert from Bitcoins to fiat as I need.
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May 10, 2016, 10:44:03 PM
 #1582

Yes, I use Bitcoin as a way to protect myself from FIAT inflation (250% last year in Venezuela). So I pretty much have all my savings stored in Bitcoin (and Ethereum), then I use a local bitcoin exchange to convert from Bitcoins to fiat as I need.

Even if need to spend it then I need to convert it to my local currency first, and I only convert if I feel price is good enough to give me higher value of fiat.
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May 11, 2016, 05:38:39 AM
 #1583

Yes, I use Bitcoin as a way to protect myself from FIAT inflation (250% last year in Venezuela). So I pretty much have all my savings stored in Bitcoin (and Ethereum), then I use a local bitcoin exchange to convert from Bitcoins to fiat as I need.

Even if need to spend it then I need to convert it to my local currency first, and I only convert if I feel price is good enough to give me higher value of fiat.
That is the best thing or benefits of using bitcoins, because when we purchase it, the price was low and by simply using it in different online transactions you have the benefits of low charges and privacy, by the moment you encash it you always gain as the price is consistently rising.

Me, I use it in gambling and most of the time I cannot cash out because I usually lose it all.

 
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CoinsRoyal
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May 11, 2016, 09:34:36 AM
 #1584

Yes, I use Bitcoin as a way to protect myself from FIAT inflation (250% last year in Venezuela). So I pretty much have all my savings stored in Bitcoin (and Ethereum), then I use a local bitcoin exchange to convert from Bitcoins to fiat as I need.

Even if need to spend it then I need to convert it to my local currency first, and I only convert if I feel price is good enough to give me higher value of fiat.
I am only spending it online and that is because it is not everywhere acceptable in offline stores and that is bad because not everyone knows how to use it and that is the problem.
So we have to promote it more so more stores will accept it so we can also spend it more.
Icathia
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May 11, 2016, 11:22:51 AM
 #1585

Yes, I use Bitcoin as a way to protect myself from FIAT inflation (250% last year in Venezuela). So I pretty much have all my savings stored in Bitcoin (and Ethereum), then I use a local bitcoin exchange to convert from Bitcoins to fiat as I need.

Even if need to spend it then I need to convert it to my local currency first, and I only convert if I feel price is good enough to give me higher value of fiat.
I am only spending it online and that is because it is not everywhere acceptable in offline stores and that is bad because not everyone knows how to use it and that is the problem.
So we have to promote it more so more stores will accept it so we can also spend it more.
I sometimes spend coins on some gambling sites and other online websites but I try to not spend to many coins because it is still a fact that we can make money with these Bitcoins. So try to save as much coins as possible.
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May 11, 2016, 11:35:13 AM
 #1586

Most of the time i just hold them. But not o long because that´s not nice for the price of the coin. Sometimes
i just buy something i need and hold the rest of my coins.
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May 11, 2016, 11:38:43 AM
 #1587

Yes, I use Bitcoin as a way to protect myself from FIAT inflation (250% last year in Venezuela). So I pretty much have all my savings stored in Bitcoin (and Ethereum), then I use a local bitcoin exchange to convert from Bitcoins to fiat as I need.

Even if need to spend it then I need to convert it to my local currency first, and I only convert if I feel price is good enough to give me higher value of fiat.
I am only spending it online and that is because it is not everywhere acceptable in offline stores and that is bad because not everyone knows how to use it and that is the problem.
So we have to promote it more so more stores will accept it so we can also spend it more.
I sometimes spend coins on some gambling sites and other online websites but I try to not spend to many coins because it is still a fact that we can make money with these Bitcoins. So try to save as much coins as possible.

Why are you wasting your coins in gambling sites? Its better to use it in buying some productive things or else just holding it for the halving.
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May 11, 2016, 12:13:20 PM
 #1588

Most of the time i just hold them. But not o long because that´s not nice for the price of the coin. Sometimes
i just buy something i need and hold the rest of my coins.

Best way to spend it. Feel its use in something that we need. That way also I can enjoy my profit from time to time. Whenever I see something interesting online I try to look if they accept this kind of payment.





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gerXhonza
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May 11, 2016, 12:17:00 PM
 #1589

Most of the time i just hold them. But not o long because that´s not nice for the price of the coin. Sometimes
i just buy something i need and hold the rest of my coins.

Best way to spend it. Feel its use in something that we need. That way also I can enjoy my profit from time to time. Whenever I see something interesting online I try to look if they accept this kind of payment.

Yes and we should spend our coins frequently then only the purpose of earning will be served as only holding will not be good in long run if price falls.
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May 11, 2016, 02:00:24 PM
 #1590

Most of the time i just hold them. But not o long because that´s not nice for the price of the coin. Sometimes
i just buy something i need and hold the rest of my coins.

Best way to spend it. Feel its use in something that we need. That way also I can enjoy my profit from time to time. Whenever I see something interesting online I try to look if they accept this kind of payment.

Yes and we should spend our coins frequently then only the purpose of earning will be served as only holding will not be good in long run if price falls.

I dont know if is a problem but im spending almost all my bitcoins ,not wasting them at gambling im investing them at my personal projects ,soo i believe spend here is the key to sucess ,i could be holding my portfolio and well i would be happy with the total ammount that i had earned and see its value but what the point to store the bitcoins for a long period taking some high risks during those period.
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May 11, 2016, 02:25:03 PM
 #1591

Most of the time i just hold them. But not o long because that´s not nice for the price of the coin. Sometimes
i just buy something i need and hold the rest of my coins.

Best way to spend it. Feel its use in something that we need. That way also I can enjoy my profit from time to time. Whenever I see something interesting online I try to look if they accept this kind of payment.

Yes and we should spend our coins frequently then only the purpose of earning will be served as only holding will not be good in long run if price falls.

I dont know if is a problem but im spending almost all my bitcoins ,not wasting them at gambling im investing them at my personal projects ,soo i believe spend here is the key to sucess ,i could be holding my portfolio and well i would be happy with the total ammount that i had earned and see its value but what the point to store the bitcoins for a long period taking some high risks during those period.

Yeah I am doing the same, today only I converted 0.4 btc to my local currency, as I was in need of money and it will take time to get my monthly salary so bitcoin is helping me financially whenever I need.
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May 11, 2016, 03:22:30 PM
 #1592

It is more on daily gambling habits actually, people who uses bitcoin came from the gambling industries and may next is in trading industries. With the advent of the online gambling sites now accepting bitcoins then there is a good exposure for bitcoins and expect in the future for more gambling sites to be establish,

Nowadays, very few people waste their coins on gambling. In 2011 and 2012, there were so few options available for users to spend their coins. Most of them tried their luck on sites such as Satoshi-Dice, since Bitcoin was not being accepted anywhere else. But the situation has changed now. Currently there are a lot of options to spend your coins.
Spending Bitcoin will be not the best thing that you can do and that is because the value is now not even that high and that must change soon.
If that will change soon than there will be a lot of people that is getting a lot of profit and that would be nice.
Yeah spending them is not the smartest thing to do because you can earn some money with it. So when I want something I like to pay with Paypal or creditcard.
I prefer to convert with fiat money and spend it on real, because it would be more fun, rather than spend online.

Yeah and I think right now we only have that option of converting it to fiat and then spend, but we will see many physical shops that will accept bitcoin as a mode of  payment.

in the future it will probably be a lot of physical stores that accept bitcoin as payment, but all depends on the development of bitcoin. if every year getting better and some countries many of which use bitcoin as a public service. it may happen.

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May 11, 2016, 03:45:53 PM
 #1593

It is more on daily gambling habits actually, people who uses bitcoin came from the gambling industries and may next is in trading industries. With the advent of the online gambling sites now accepting bitcoins then there is a good exposure for bitcoins and expect in the future for more gambling sites to be establish,

Nowadays, very few people waste their coins on gambling. In 2011 and 2012, there were so few options available for users to spend their coins. Most of them tried their luck on sites such as Satoshi-Dice, since Bitcoin was not being accepted anywhere else. But the situation has changed now. Currently there are a lot of options to spend your coins.
Spending Bitcoin will be not the best thing that you can do and that is because the value is now not even that high and that must change soon.
If that will change soon than there will be a lot of people that is getting a lot of profit and that would be nice.
Yeah spending them is not the smartest thing to do because you can earn some money with it. So when I want something I like to pay with Paypal or creditcard.
I prefer to convert with fiat money and spend it on real, because it would be more fun, rather than spend online.

Yeah and I think right now we only have that option of converting it to fiat and then spend, but we will see many physical shops that will accept bitcoin as a mode of  payment.

in the future it will probably be a lot of physical stores that accept bitcoin as payment, but all depends on the development of bitcoin. if every year getting better and some countries many of which use bitcoin as a public service. it may happen.

Yes physical stores are really upcoming and they will spread in a lot of country's I think at the end of this year there will be a lot of stores that accept the bitcoin.
I really hope this will happen to be honest.
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May 11, 2016, 04:09:32 PM
 #1594

It is more on daily gambling habits actually, people who uses bitcoin came from the gambling industries and may next is in trading industries. With the advent of the online gambling sites now accepting bitcoins then there is a good exposure for bitcoins and expect in the future for more gambling sites to be establish,

Nowadays, very few people waste their coins on gambling. In 2011 and 2012, there were so few options available for users to spend their coins. Most of them tried their luck on sites such as Satoshi-Dice, since Bitcoin was not being accepted anywhere else. But the situation has changed now. Currently there are a lot of options to spend your coins.
Spending Bitcoin will be not the best thing that you can do and that is because the value is now not even that high and that must change soon.
If that will change soon than there will be a lot of people that is getting a lot of profit and that would be nice.
Yeah spending them is not the smartest thing to do because you can earn some money with it. So when I want something I like to pay with Paypal or creditcard.
I prefer to convert with fiat money and spend it on real, because it would be more fun, rather than spend online.

Yeah and I think right now we only have that option of converting it to fiat and then spend, but we will see many physical shops that will accept bitcoin as a mode of  payment.

in the future it will probably be a lot of physical stores that accept bitcoin as payment, but all depends on the development of bitcoin. if every year getting better and some countries many of which use bitcoin as a public service. it may happen.

Yes physical stores are really upcoming and they will spread in a lot of country's I think at the end of this year there will be a lot of stores that accept the bitcoin.
I really hope this will happen to be honest.

Would we be able to find physical shops accepting bitcoin as a mode of payment even if the Government of that particular country bans it or declare it as an illegal? I don't think so.

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May 12, 2016, 03:00:07 PM
 #1595

I have spend some Bitcoins in my life but I have learned not to spend them as much because they are worth allot of money. These coins can go up in value so it is not smart to do.
If you want to buy something online it is better to use creditcard or paypal.
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May 12, 2016, 03:16:50 PM
 #1596

I have spend some Bitcoins in my life but I have learned not to spend them as much because they are worth allot of money. These coins can go up in value so it is not smart to do.
If you want to buy something online it is better to use creditcard or paypal.

That's true and honestly I feel that selling coins is better then spending it as you have an option to buy things with credit card or fiat currency, but if you sell at higher price then you can hold good volume of fiat.
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May 12, 2016, 05:33:15 PM
 #1597

It will be not that smart if you are spending your Bitcoins and that is because the value is not high enough to make that enough profit so it will be better to wait a longer time.
And we also all know that the halving will come so maybe that will be nice.
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May 12, 2016, 07:35:25 PM
 #1598

I use bitcoin to buy some computers and mining equipment to mine some coins and use the bitcoins again.
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May 12, 2016, 07:42:19 PM
 #1599

It will be not that smart if you are spending your Bitcoins and that is because the value is not high enough to make that enough profit so it will be better to wait a longer time.
And we also all know that the halving will come so maybe that will be nice.

Yeah I think you need to hold your coins for next couple of months to make profits from it, and if you sell now you will not get that extra profit that you are looking for.
outatime1
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May 12, 2016, 07:48:14 PM
 #1600

I have spent a small amount on a website online.  As I accumulate more, I will probably spend some as a way to help the bitcoin community.  I don't know of any local bushiness that accept it where I live.
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