The point is: if you think Bitcoin will be the next global currency...

[Crypto Piece]

...why are you all dumping it for fiat currency buying Lambos and Nintendo Switch?

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[Aveatrex]

Well,most of people who consider Bitcoin as a way to earn money,they don't care if Bitcoin will be the next global currency or not.All they want is to earn profit.While people who consider Bitcoin a revolutionary currency that will change the world 99% won't sell their coins unless they are really in need of money.

[brontosaurus]

...why are you all dumping it for fiat currency buying Lambos and Nintendo Switch?

You think it will be a global currency? Give me one reason why I should hold it? I am from India and my govt. Is not quite with it. It has issued several warnings and stopping people to invest in it. What if tomorrow I wake up and see that India has banned it? All my lifetime earnings are gone all evaded? This is why I ocassionaly dump it for fiat.

[penig]

Because the Lamborghini dealership doesn't accept BTC?  I asked.  

Seriously though, what is the point being made?  $ is currently recognised as a global currency for asset and commodity trading, yet if i want to buy a loaf of bread or a few beers in the local town, $ count for nothing and local currency it needed.

[Oulay]

...why are you all dumping it for fiat currency buying Lambos and Nintendo Switch?

What is a currency if we don't buy stuff with it?

[W4terhouse]

Because the Lamborghini dealership doesn't accept BTC?  I asked.  

Made my day! 

For the question: If you are only in the BitCoin sector for Investment, you need to live also. And if you are that successfull with Bitcoin, won´t you think about some nice stuff? Believe me, if you have the money, you also think about buying nice things.
And yes, if i had the money for a lambo... who knows....

[posi]

...why are you all dumping it for fiat currency buying Lambos and Nintendo Switch?

If you checked the past historic data of bitcoin will see that dumps usually happen when it acouple of days before Christmas while the pump in price happen after New Year because most holder usually need money to fix their expense for Christmas/New year celebration.  You can check the coin market cap to know if I'm correct.

[darkangel11]

...why are you all dumping it for fiat currency buying Lambos and Nintendo Switch?

What are you talking about? You should really check out how many people did buy a car for BTC. I'm not even talking about a luxury car but any car. Transactions like that are still rare because people prefer to watch their coins grow in value and spend fiat that depreciates anyway. You can put it in a savings account at 2% and all it's going to do is keep its current value. You won't gain anything because the inflation will eat up all the profits.

[shursight]

First of all, it would be difficult to make bitcoin be the next global currency, are you aware of how much time it can take to make it go through?

...why are you all dumping it for fiat currency buying Lambos and Nintendo Switch?

And yes, if you have enough money to buy yourself a Lambo or a new ferrari as a gift, why wouldn't you buy it?

I guess that you would do the same, do not be hypocrite, if you have 10000 bitcoins on your balance, are you stil going to use the same fiat 600 forever?

I guess that you wouldn't do it x2.

[jseverson]

Well what's the point of currency if you're not going to spend it? You unfortunately cannot spend it directy for a lambo or a Nintendo Switch, so you'll have to go about the roundabout route which is to trade it for fiat (you can just think of this as forex or something, whatever makes you sleep at night), then for what you what to spend on.

Either way, few people get out of the game entirely. They may spend a portion and keep another portion. Heck, you don't even need to keep any to believe it's the future. You can spend it all and get in the game again later on. It's a moot point.

[Yakamoto]

...why are you all dumping it for fiat currency buying Lambos and Nintendo Switch?

You have to realize a decent amount of the people that have started investing since 2015 no longer think of Bitcoin as the next big global currency, or at least they don't privately think that. Most of the time they're interested in hyping their investments so they can get more money to benefit themselves, not for anyone else. That's why you see some people opting to take their money and exchange it for goods before it reaches that status; because they think it never will.

I'm personally on the fence and can't tell you if it will or won't become the next big thing. I am hoping it does, but I fear if such an event occurs it would destroy the community we've cultivated and there would no longer be the enthusiasm, albeit sometimes out of place, that comes with it.

[denzkilim]

Because the Lamborghini dealership doesn't accept BTC?  I asked.  

Made my day! 

For the question: If you are only in the BitCoin sector for Investment, you need to live also. And if you are that successfull with Bitcoin, won´t you think about some nice stuff? Believe me, if you have the money, you also think about buying nice things.
And yes, if i had the money for a lambo... who knows....

Deym it! This guy's post is one of the best post in the history of bitcointalk.

Because the Lamborghini dealership doesn't accept BTC?  I asked.  

This dude deserves two lambo's or more

People dump it because they already get profit from it and maybe they want to buy some stuffs from the profit that they earned and it's not a bad thing at all. 

[mk4]

Because thinking that everyone actually believe in bitcoin's technology itself is wishful thinking. I'm pretty sure a good percentage(probably majority) of people holding and investing in bitcoin only got in because of FOMO and because of the future potential profits. Unfortunate, yes, but it's a free market. There's pretty much nothing we can do.

[shadowdio]

because we need money for holidays, gifts for your love ones, that's why many people converting into fiat but don't worry maybe this month will go up the price of bitcoin.

[Alex3601]

I could not be happen. Only in digital way bitcoin will works. Unless bitcoin becomes a paper money it will be more highest value compare to all fiat money.

[bitfools]

...why are you all dumping it for fiat currency buying Lambos and Nintendo Switch?

BITCOIN is a parking-lot for rich ppl, its a place to park your wealth until the smoke clears,

Everybody knows the reset is coming ( US DOLLAR  COLLAPSE ), and nobody knows where it will be safe to live in future ( post war ), so now safest bet is crypto, so when you flee your country, you don't have to carry 100LBS of gOLD

...

BITCOIN even in CHINA is called the "currency of the gods", it was never intended to be used as pocket change to enter a toilet in china or india, BTC is a safe haven for the rich, and that's the way the elite will keep it!

The world's poor, is best kept poor, and the elite want nothing more

[bitfools]

I could not be happen. Only in digital way bitcoin will works. Unless bitcoin becomes a paper money it will be more highest value compare to all fiat money.

Same now as the SDR its worth about $50k USD, and only banks can exchange an SDR, BTC could end up the same, a financial 'currency' so that elite can move/store wealth, but hardly a currency for day-traders or toilet stall cleaners

[tyremo]

According to the development trend of global currency, if bitcoin wants to become a global currency, not only time but also system improvement are needed. For the time being, it is impossible to become a global currency.

[Diecaut]

...why are you all dumping it for fiat currency buying Lambos and Nintendo Switch?

bitcoin have many disadvantages which will never make it used for daily things, most of us use it as investment or fast way to earn money.

bitcoin like gold.

[stompix]

Because the Lamborghini dealership doesn't accept BTC?  I asked.  

Seriously though, what is the point being made?  $ is currently recognised as a global currency for asset and commodity trading, yet if i want to buy a loaf of bread or a few beers in the local town, $ count for nothing and local currency it needed.

Oh but they do....
https://www.lambonb.com/


And there are at least 3 guys known to have bought one with BTC , Goat did buy one in 2013.

Most people dump BTC for stuff and fiat because they already made huge profits.
Why should you wait another 5 years to get x10 more money to spend on hookers when by that time you will need to blow it on viagra?

Contrary to what people believe most early investors are well in their 40's and 50's by now.
Give me one solid reason to wait till 80 to cash in