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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 256547 times)
chaser15
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August 11, 2016, 08:32:35 AM
 #2881

I just recently had to convert some of my bitcoins to fiat because I ran out of funds unexpectedly. Normally, I would just hold much and just spend a little on load credits and bills payment. I hope the time will come that the buy and sell price wouldn't have much of a difference. Maybe that is the exchanges' way of earning from their clients. By the way, who determines the exchange rate for the exchanges? Is there a rule or policy that controls exchange rates?

That is their own set of rates that close to the exact price of bitcoin. There is different rates to cover all the expenses and services that those exchanges are giving out to satisfy their clients.

But they have no right to set their rates to really a low one because in the first place, no one will use their exchanges sites if the rates is really terrible.
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August 11, 2016, 09:26:57 AM
 #2882

I just recently had to convert some of my bitcoins to fiat because I ran out of funds unexpectedly. Normally, I would just hold much and just spend a little on load credits and bills payment. I hope the time will come that the buy and sell price wouldn't have much of a difference. Maybe that is the exchanges' way of earning from their clients. By the way, who determines the exchange rate for the exchanges? Is there a rule or policy that controls exchange rates?

That is their own set of rates that close to the exact price of bitcoin. There is different rates to cover all the expenses and services that those exchanges are giving out to satisfy their clients.

But they have no right to set their rates to really a low one because in the first place, no one will use their exchanges sites if the rates is really terrible.

You are right. I have been to a lot of exchanges and have seen different prices specially when you are buying bitcoin. Some are really using it for their greediness. Anyway I do have a choice. They cant force me.

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August 11, 2016, 10:03:22 AM
 #2883

I am not active spender at a moment, I only spend when I am in need of money, I sell it and convert it to my local currency but majority of them I am saving for future.
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August 11, 2016, 10:35:18 AM
 #2884

I spent it actively but i need it to convert first in cash to buy anything i want. Because here in our country they not accept bitcoin as payment to department store or online store. But in billing they accept it. So we need to cash it first before we spent it. Hope someday they will be stores that accepting bitcoin as payment for much better for us to have a bitcoin.

That what I am hoping too. I also do no have any stores to spend my bitcoin directly in my country. Luckily there are a few exchanges here that I can convert my bitcoin cardless.

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August 11, 2016, 10:39:43 AM
 #2885

I just recently had to convert some of my bitcoins to fiat because I ran out of funds unexpectedly. Normally, I would just hold much and just spend a little on load credits and bills payment. I hope the time will come that the buy and sell price wouldn't have much of a difference. Maybe that is the exchanges' way of earning from their clients. By the way, who determines the exchange rate for the exchanges? Is there a rule or policy that controls exchange rates?

That is their own set of rates that close to the exact price of bitcoin. There is different rates to cover all the expenses and services that those exchanges are giving out to satisfy their clients.

But they have no right to set their rates to really a low one because in the first place, no one will use their exchanges sites if the rates is really terrible.

You are right. I have been to a lot of exchanges and have seen different prices specially when you are buying bitcoin. Some are really using it for their greediness. Anyway I do have a choice. They cant force me.

Even there are exchanges out there  they would  definitely differ in  pricing since its also an investment some exchanges may charge too much and some would charge a little  amount which some buyers would definitely choose on which one is better.

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August 11, 2016, 12:17:08 PM
 #2886

Yeah in future we don't have to convert it to fiat and spend, we would be able to spend it directly, at a moment I only spend if I am in urgent need of hard cash, so I sell few of them and rest hold for the future.

It will happen if bitcoin will established a stable price in future as you know that most of the merchants hates the price volatility of bitcoin that's why it in present time, there are still few big merchants who accepting bitcoin as one of their payment method.

May be in future bitcoin will be more developed and we will see many small merchants will start accepting it, and to be honest we need few places where we can spend our coins, it will be a total fun.

Yeah at least some should two or three in a mall that sells their items with bitcoin. I want to try it too. I mean physical buying not just online.

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August 11, 2016, 01:00:24 PM
 #2887

Yeah in future we don't have to convert it to fiat and spend, we would be able to spend it directly, at a moment I only spend if I am in urgent need of hard cash, so I sell few of them and rest hold for the future.

It will happen if bitcoin will established a stable price in future as you know that most of the merchants hates the price volatility of bitcoin that's why it in present time, there are still few big merchants who accepting bitcoin as one of their payment method.

May be in future bitcoin will be more developed and we will see many small merchants will start accepting it, and to be honest we need few places where we can spend our coins, it will be a total fun.

Yeah at least some should two or three in a mall that sells their items with bitcoin. I want to try it too. I mean physical buying not just online.
And once few merchants will start accepting bitcoins the others will start following them, the only important this is to get start off and that will be done sooner or latter.
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August 11, 2016, 04:11:22 PM
 #2888

And once few merchants will start accepting bitcoins the others will start following them, the only important this is to get start off and that will be done sooner or latter.

No it's not like that. There are already few merchants out there in the market and some of them are really popular one but as of now there is only few merchants that are accepting bitcoin.

Competition is out of line here as long as bitcoin price always fluctuates, that is the main concern of those big merchants.
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August 11, 2016, 04:51:56 PM
 #2889

And once few merchants will start accepting bitcoins the others will start following them, the only important this is to get start off and that will be done sooner or latter.

No it's not like that. There are already few merchants out there in the market and some of them are really popular one but as of now there is only few merchants that are accepting bitcoin.

Competition is out of line here as long as bitcoin price always fluctuates, that is the main concern of those big merchants.

There are few merchants but only in few countries and not the same goes with all countries as to be honest I don't have any single shop where I can spend my coins and that is really disappointing.
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August 11, 2016, 08:02:31 PM
 #2890

I am not a big fun of online shopping and also in my country i can't use bitcoins in physical shops, and usually i'm just exchaning my bitcoin into fiat.

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August 11, 2016, 08:30:26 PM
 #2891

I am not a big fun of online shopping and also in my country i can't use bitcoins in physical shops, and usually i'm just exchaning my bitcoin into fiat.
Such opportunities are not very many people. But it is only a matter of time. About cryptocurrency say more and more. And its popularity is growing every day.
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August 11, 2016, 08:38:56 PM
 #2892

Like a sucker I am easily relieved of my bitcoins till the next time I buy more.
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August 11, 2016, 09:28:31 PM
 #2893

I am not a big fun of online shopping and also in my country i can't use bitcoins in physical shops, and usually i'm just exchaning my bitcoin into fiat.

Yup at this stage if we have to spend our bitcoins then we need to convert it to our local currency first and then spend but its good that converting bitcoin to fiat is not too difficult.


 
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August 11, 2016, 09:37:00 PM
 #2894

And once few merchants will start accepting bitcoins the others will start following them, the only important this is to get start off and that will be done sooner or latter.

No it's not like that. There are already few merchants out there in the market and some of them are really popular one but as of now there is only few merchants that are accepting bitcoin.

Competition is out of line here as long as bitcoin price always fluctuates, that is the main concern of those big merchants.
yeah there is a huge competition in a bitcoin world and it is great, i personally dont spend any of my bitcoins right now as i hold it for the future

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August 11, 2016, 09:50:24 PM
 #2895

And once few merchants will start accepting bitcoins the others will start following them, the only important this is to get start off and that will be done sooner or latter.

No it's not like that. There are already few merchants out there in the market and some of them are really popular one but as of now there is only few merchants that are accepting bitcoin.

Competition is out of line here as long as bitcoin price always fluctuates, that is the main concern of those big merchants.
yeah there is a huge competition in a bitcoin world and it is great, i personally dont spend any of my bitcoins right now as i hold it for the future

If you cannot spend your coins at this stage then its better to hold them for future as price will be much higher and we will see many offline stores where we would be able to spend our coins.
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August 11, 2016, 10:23:30 PM
 #2896


 I don't have enough bitcoins, I can't spend them actively even if I wish that. I mean I have some, but I'm not ready to spend them yet.

 Only for one year I can start to think how will I spend my coins, until then all I can do is to work to get them more. I don't think about spending coins for some stupid little things.
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August 11, 2016, 10:52:52 PM
 #2897

im not spending any of my bitcoins at the moment, in my opinion the price will grow so im holding my bitcoins

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August 12, 2016, 01:55:04 AM
 #2898

And once few merchants will start accepting bitcoins the others will start following them, the only important this is to get start off and that will be done sooner or latter.

No it's not like that. There are already few merchants out there in the market and some of them are really popular one but as of now there is only few merchants that are accepting bitcoin.

Competition is out of line here as long as bitcoin price always fluctuates, that is the main concern of those big merchants.
yeah there is a huge competition in a bitcoin world and it is great, i personally dont spend any of my bitcoins right now as i hold it for the future

If you cannot spend your coins at this stage then its better to hold them for future as price will be much higher and we will see many offline stores where we would be able to spend our coins.
I think it is not wise to spend our bitcoins now because the price is increasing. The better idea for now if you really need to spend, only spend for your basic needs, and spend your fiat if you are thinking of spending for your needs.



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Hatuferu
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August 12, 2016, 01:57:09 AM
 #2899

I am not a big fun of online shopping and also in my country i can't use bitcoins in physical shops, and usually i'm just exchaning my bitcoin into fiat.

Yup at this stage if we have to spend our bitcoins then we need to convert it to our local currency first and then spend but its good that converting bitcoin to fiat is not too difficult.
It is still easy to do that because there are many exchanges that automatically support the convertion of our bitcoins to be withdrawn in a certain banks. In our country, when I cash out I can do it with less than 50 minutes using the express cash out in one of the reputable banks here.


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August 12, 2016, 03:28:44 AM
 #2900

No, I don't. I honestly have no need to spend my bitcoin on. What do I need? A PC? Got it. Food? I have a day job to pay for that.


 
 
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