Spending Bitcoin These Days

[rarkenin]

I see more and more merchants accepting Bitcoin but I feel many are missing the point. I, along with the vast majority of you, hate spending my Bitcoin. The only reason I would spend Bitcoin is if I can get a 20%+ discount on an item or service that I would be purchasing anyway. This also assumes I can immediately purchase more BTC to cover what I spent. I have done this before for purchases on Purse, then buying the BTC right back on Coinbase. The headache alone is hardly worth it. So merchants! It's great that you accept BTC but give us a compelling reason to spend it at your establishment, otherwise we really don't care.

I think it is another way to get the coin. If I buy a paper for and sell it with a margin of 20% then its like buying your coin 18% less.

Same logic can be applied in other ways: If you loss 20 percent of balance you need to make profit more than 25 percent to take back losses. Merchants are not ready for volatility and this disadvantage makes things more harder.

[Ultegra134]

I see more and more merchants accepting Bitcoin but I feel many are missing the point. I, along with the vast majority of you, hate spending my Bitcoin. The only reason I would spend Bitcoin is if I can get a 20%+ discount on an item or service that I would be purchasing anyway. This also assumes I can immediately purchase more BTC to cover what I spent. I have done this before for purchases on Purse, then buying the BTC right back on Coinbase. The headache alone is hardly worth it. So merchants! It's great that you accept BTC but give us a compelling reason to spend it at your establishment, otherwise we really don't care.

I get your point of not wanting to spend your BTC, I used to do that and now I completely regret it. However, it's a good thing that more merchants and webstores are accepting Bitcoin as a payment method, it's boosting its usage and becoming more widespread around merchants and internet users. Many people see Bitcoin as investment/asset, similar to gold, which is completely understandable, so do I.

[TheCoinFinder]

It is worth selling bitcoin these days as the market will probably go higher than current position but people who own many bitcoins will not feel unhappy spending some of them at any stage.
We paltry amount of coin holders are optimistically looking for a chance to make profits from our holdings, however merchants help bitcoin grow more faster.

[FrueGreads]

I see more and more merchants accepting Bitcoin but I feel many are missing the point. I, along with the vast majority of you, hate spending my Bitcoin. The only reason I would spend Bitcoin is if I can get a 20%+ discount on an item or service that I would be purchasing anyway. This also assumes I can immediately purchase more BTC to cover what I spent. I have done this before for purchases on Purse, then buying the BTC right back on Coinbase. The headache alone is hardly worth it. So merchants! It's great that you accept BTC but give us a compelling reason to spend it at your establishment, otherwise we really don't care.

Right now I must agree with you. It's hard to spend bitcoin since there is a big chance that it's price will increase in a near future. If we do spend them, it will be because of greater convenience, or to take advantage of a good promotion. And it's a really good practice to always buy the same amount of bitcoins as soon as possible, so that we don't miss any possible increases in it's price.

Anyway, I also think that's important for bitcoin to have more utility than "just an asset", so even if there is no real advantage in buying goods with bitcoin, I try to make a buy once in a while, just to show support (and of course, I replace the spent bitcoin, as soon as possible).

[laredo7mm]

There are many online sites that have started to accept bitcoins as a mode of payment but in real world bitcoin is still lacking the exposure and there are not many places where we can spend bitcoins directly for buying anything and it will surely take some long time for that to happen and even if I have option to spend bitcoins for buying anything I won't spend it and will save my bitcoins for future and for shopping I will prefer to use fiat or credit card as bitcoin will be more valuable in future and at that stage I won't mind in spending bitcoins.

[daarul50]

Until now I do not want to spend BTC owned because I think BTC has a bright future in the future, save BTC there is the right investment for now because time after time the price is higher and it is an advantage for me who always want to collect BTC every time. For me, spending BTC will only have regrets in the future where people already have a lot of BTC and take advantage of it while people who have spent BTC days will only be able to watch people who will later enjoy the benefits of BTC.

[o_e_l_e_o]

I see more and more merchants accepting Bitcoin but I feel many are missing the point. I, along with the vast majority of you, hate spending my Bitcoin. The only reason I would spend Bitcoin is if I can get a 20%+ discount on an item or service that I would be purchasing anyway. This also assumes I can immediately purchase more BTC to cover what I spent. I have done this before for purchases on Purse, then buying the BTC right back on Coinbase. The headache alone is hardly worth it. So merchants! It's great that you accept BTC but give us a compelling reason to spend it at your establishment, otherwise we really don't care.

I get your point of not wanting to spend your BTC, I used to do that and now I completely regret it. However, it's a good thing that more merchants and webstores are accepting Bitcoin as a payment method, it's boosting its usage and becoming more widespread around merchants and internet users. Many people see Bitcoin as investment/asset, similar to gold, which is completely understandable, so do I.

The more we use bitcoins, the more widely bitcoins will be accepted, and the faster bitcoin will grow. I do exactly this - purchase with bitcoins if possible, and then buy back the same amount in fiat. The difference in price between just buying in fiat is usually negligible, and I know that I am helping to spread bitcoin.

[Clement Kaliyar]

The more we use bitcoins, the more widely bitcoins will be accepted, and the faster bitcoin will grow. I do exactly this - purchase with bitcoins if possible, and then buy back the same amount in fiat. The difference in price between just buying in fiat is usually negligible, and I know that I am helping to spread bitcoin.

With the current transaction charges i am not confortable to spend my bitcoins or even bother to transfer from exchanges now a days because it is a pain for the ages to get one confirmation and hence i am not happy to spend my coins until the network issue is sorted out and i am sure that is the case with everyone and the more we use bitcoin wont make it widely acceptable ,lower transaction fees and faster confirmation will attract people into bitcoin.

[mr_enoc]

I see more and more merchants accepting Bitcoin but I feel many are missing the point. I, along with the vast majority of you, hate spending my Bitcoin. The only reason I would spend Bitcoin is if I can get a 20%+ discount on an item or service that I would be purchasing anyway. This also assumes I can immediately purchase more BTC to cover what I spent. I have done this before for purchases on Purse, then buying the BTC right back on Coinbase. The headache alone is hardly worth it. So merchants! It's great that you accept BTC but give us a compelling reason to spend it at your establishment, otherwise we really don't care.

That's a good news that there are establishment that currently accept bitcoin payment. I am not spending my bitcoin right now but i am willing to spend it when i need it.

[RougeonMining]

You can see more and more places that accept Bitcoin and that's a really good thing ! We need mass adoption to make Bitcoin bigger.

[CarnagexD]

I see more and more merchants accepting Bitcoin but I feel many are missing the point. I, along with the vast majority of you, hate spending my Bitcoin. The only reason I would spend Bitcoin is if I can get a 20%+ discount on an item or service that I would be purchasing anyway. This also assumes I can immediately purchase more BTC to cover what I spent. I have done this before for purchases on Purse, then buying the BTC right back on Coinbase. The headache alone is hardly worth it. So merchants! It's great that you accept BTC but give us a compelling reason to spend it at your establishment, otherwise we really don't care.

I also just use bitcoin when I really need to especially in emergency cases or when I really run out of money. But, as much as possible I keep all the bitcoin that I can. I also have my salary from my job, so as much as possible all the coins that I earn here are meant to be my long-term investment.

Im just using my bitcoin in case of emergency or whenever my allowance is zero balance. And what I like about bitcoin is that some of the stores online accepts it, and more and more are continuing and on process to accept bitcoin as payment for what ever a person boughts online. But as much as possible I just store them so that they might be possible to increase in the long run.

[Oasisman]

I see more and more merchants accepting Bitcoin but I feel many are missing the point. I, along with the vast majority of you, hate spending my Bitcoin. The only reason I would spend Bitcoin is if I can get a 20%+ discount on an item or service that I would be purchasing anyway. This also assumes I can immediately purchase more BTC to cover what I spent. I have done this before for purchases on Purse, then buying the BTC right back on Coinbase. The headache alone is hardly worth it. So merchants! It's great that you accept BTC but give us a compelling reason to spend it at your establishment, otherwise we really don't care.

Finally, someone realizes the downside of spending your btc on shopping or services. Bitcoin's volatility has huge impact when spending it, we do not know when will the exchange value change. Like you spend it for 300$ today and what if tomorrow the exchange value is doubled? What you have said is actually right, merchants and business owners must offer us interesting deals so that it will be worth the purchase.

[sandwichman1]

Buy a pizza with bitcoinand you can enter in the legend: D

[imam ukik]

you all will understand ... People do not see it as money that can be picked but more like a gold mine, you will not spend it unless you really need it. But also, the merchants will not really care if they get paid in the form of filters or crypto, so why should they help promote bitcoin and give discounts to use it? That does not make sense either ... In the end, if we all want a world and bitcoin will be more commonly used and much more valuable, we must make some sacrifices to bitcoin, hopefully you all understand or know what I mean.

[enterprevic1]

There are now a lot of merchants accepting bitcoins as a means of payment, I have been able to pay for my domain and hosting using bitcoins lately and I have also funded online trading accounts using bitcoins. Good isn't it

[BitHodler]

What you have said is actually right, merchants and business owners must offer us interesting deals so that it will be worth the purchase.

Some of them do so already, but it's more a short term promotional deal rather than something long term. And even with these deals it's very difficult to make people actually spend their coins for once.

We have to accept that there is nothing that will change in the coming years, because nothing hints at the volatility to decrease, and not hints at Bitcoin's growth to stagnate any time soon.

That being said, people should just stop being so focused on paying for things with Bitcoin. It's not like they depend solely on Bitcoin to buy their daily needs and all other stuff. As long as fiat offers better usability, keep using that.

[Samarkand]

There are now a lot of merchants accepting bitcoins as a means of payment, I have been able to pay for my domain and hosting using bitcoins lately and I have also funded online trading accounts using bitcoins. Good isn't it

Merchant adoption of BTC has actually decreased in several countries since 2013 (e.g. the US!). Many businesses that started to accept BTC back then
have since stopped doing so, because cryptocurrency purchases didn´t meet the expectations of the business owners.

However, this isn´t really a surprise. Due to the surge in value it doesn´t really make sense to spend BTC (sound money)
when you can just as easily or even more easily pay with your depreciating fiat currency. Additionally, credit cards, Paypal
and other fiat payment methods are still faster and more intuitive in terms of usability.

[betMaster]

I see more and more merchants accepting Bitcoin but I feel many are missing the point. I, along with the vast majority of you, hate spending my Bitcoin. The only reason I would spend Bitcoin is if I can get a 20%+ discount on an item or service that I would be purchasing anyway. This also assumes I can immediately purchase more BTC to cover what I spent. I have done this before for purchases on Purse, then buying the BTC right back on Coinbase. The headache alone is hardly worth it. So merchants! It's great that you accept BTC but give us a compelling reason to spend it at your establishment, otherwise we really don't care.

You're absolutely right. Whatever was the amount of bitcoin you have save it's still too soon to use it. I used to sell some of my bitcoin but not anymore. It's getting more rare since the sources are getting fewer. Working in this forum is not as easy as it used to be. Whenever bitcoin rises, signature campaigns become fewer. Keep stocking your bitcoin because in the coming years, it may reach a surprising price.

[kimamaxgreen]

Baseless condemnation of Bitcoin by public figures in the banking sector, such as JPMorgan CEO Jamie Dimon, has also triggered mainstream adoption of Bitcoin. A few months ago, Dimon described Bitcoin as a fraud and a bubble, while JPMorgan was fined for $2 bln for committing mortgage fraud, an actual fraudulent activity.

It was later discovered that JPMorgan traders and their clients invested in bitcoin after Dimon’s condemnation of Bitcoin, through the Nordic Nasdaq’s XBT Provider, a Bitcoin exchange-traded note (ETN).

Millennials are quickly understanding the lack of transparency and fraud that the finance industry represents, and shifting towards Bitcoin that is purely mathematical, systematic and decentralized.

[jamids]

I see more and more merchants accepting Bitcoin but I feel many are missing the point. I, along with the vast majority of you, hate spending my Bitcoin. The only reason I would spend Bitcoin is if I can get a 20%+ discount on an item or service that I would be purchasing anyway. This also assumes I can immediately purchase more BTC to cover what I spent. I have done this before for purchases on Purse, then buying the BTC right back on Coinbase. The headache alone is hardly worth it. So merchants! It's great that you accept BTC but give us a compelling reason to spend it at your establishment, otherwise we really don't care.

Given a choice spending fiat or bitcoin in a certain item then i would surely use fiat because I know that its value is inflationary while bitcoin is the opposite. This is why it is hard to spend bitcoin because we know that sometime in the future if the trend continues then the value of the item we will pay will have lesser bitcoin value and it seems that every satoshi counts. Besides, paying a small value item with bitcoin will become expensive because of the fees. As of now, I can't prevent converting my bitcoin to fiat because of some urgent needs but in the future, my goal is to invest it for long term.