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Author Topic: Why would anyone spend their coins?  (Read 902 times)
Elleria
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November 22, 2013, 11:45:06 PM
 #21

For every buyer there is a seller.  The question why would anyone spend their coins is similar to why would anyone sell them?  Obviously if nobody would sell the price would go to infinity but there is always someone willing to sell at some point and likewise there is always someone willing to spend at some price point.

That's a great point, thank you Smiley
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adworker
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November 23, 2013, 12:05:19 AM
 #22

i cant speak for other people but i can speak for myself. anything that i would have bought with fiat anyway that can be bought with bitcoin instead, I buy with bitcoin instead. since i do believe that the price will continue to go up, i buy enough bitcoins to offset the purchases i make with it. So in the end i have no fewer bitcoins than i would if i hadn't spent them.

Perhaps I'm missing some key info, but say I paid 1 Bitcoin yesterday for a laptop worth $725. Today I take funds out of my bank, which costs me $15 in fees, and then right now I'd have to pay $790 to get my coin back.


Well, but in 1 day interval anything can happen, you could buy back your coin at $650 as well. Only in the long term the price rise, not in particular day/week/month. About bank fees, best is move USD you dont need (there are still payments/product you can not buy with BTC) to BTC only once per month
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November 23, 2013, 12:40:19 AM
 #23

I can see that you can now use Bitcoins to pay for various things, including food, property and even a ride on a Virgin Galactic spaceship, but why would I want to actually spend coins when the value has increased by 30,000% over the last 2 years? Perhaps I don't yet fully understand all the benefits, but holding on to coins (or working to increase the amount you own) seems far more sensible at the moment.
Because you cant know for sure that bitcoin will even exists in 2 years.
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