*** Pledge to spend 10 Bitcoins ***

[Elwar]

The pledge:
"I will spend at least 10 Bitcoins per month but only if 1,000 other people will do the same."

Sign up here:
http://www.pledgebank.com/bitcoin1000


Currently Bitcoins are not being used much for what they were originally intended for, which is as a currency to exchange goods and services.

It is time to change that with early Bitcoin pioneers willing to consistently spend at least 10 Bitcoins every month on whatever they like. This base spending level of 10,000 Bitcoins per month will ensure merchants that there is a market out there for their Bitcoin products and will spur further activity and growth in the Bitcoin market.



Sign the pledge and please let us know here that you have signed up.

[ctoon6]

until the price of bitcoin stays with in 10% per month, it wont be a viable currency.

[Elwar]

until the price of bitcoin stays with in 10% per month, it wont be a viable currency.

Which will be helped by having 1000 people who consistently use it pushing the value based on their perception of what they are used to getting for their Bitcoins.

Letting the market control the price as opposed to the exchanges.

[wareen]

I like the idea of that pledge but I think you should change 2 things:
- specify a time frame (eg. for at least 1 year)
- account for big changes in price (eg. at least 10 BTC or 100 USD worth of BTC).

Otherwise it is difficult for anybody to fulfill the pledge.

[Elwar]

I like the idea of that pledge but I think you should change 2 things:

- specify a time frame (eg. for at least 1 year)

I figured I would let people come up with their own routines. I once set myself up with a $100 per paycheck allowance of PayPal money. It was the setting up part that took the most effort. People will stick with it or not based on their own motivations.

- account for big changes in price (eg. at least 10 BTC or 100 USD worth of BTC).

If the price were to go up very high, then those who are in on the pledge would be in early and thus have some decent money to spend. Plus it might encourage people to get their 10 BTC for the month by selling things or offering a service.

Otherwise it is difficult for anybody to fulfill the pledge.

It is just a pledge. Nobody will go to jail if they waver from the exact wording of the pledge, just as long as they are supporting the original intent.

[malbritten]

If I had 10 BTC a month I'd spend it.  I have no plans to "sit" on any BTC I get as my hardware has now been paid off. 

I can't make this pledge as I don't think I can actually mine 10 BTC a month, but I'll do my best.

[amincd]

- account for big changes in price (eg. at least 10 BTC or 100 USD worth of BTC).

+1

I live in Japan so it's difficult for me to spend BTC.

[Elwar]

I live in Japan so it's difficult for me to spend BTC.

Imagine going out into the street with a big wad of cash saying "I sure do wish I could spend this on something"...

Believe me, if you want to spend it, people will give you something to spend it on.

[amincd]

The language barrier makes that difficult, but I'll see if I can find a way to spend BTCs here and will sign the pledge if I do.

[Phinnaeus Gage]

- account for big changes in price (eg. at least 10 BTC or 100 USD worth of BTC).

+1

I live in Japan so it's difficult for me to spend BTC.

WOW! I didn't know that Japan doesn't have the internet.

[malbritten]

The language barrier makes that difficult, but I'll see if I can find a way to spend BTCs here and will sign the pledge if I do.

You can always just give me the BTC and I can spend it.  It'll fulfill the pledge all the same

[Phinnaeus Gage]

I'm waiting for the confirmation email. Once obtained, you'll see my pledge.

Until then, let me show you a picture of my pride and joy:

[malbritten]

So, went ahead and signed the pledge because I'll do my best to spend 10btc whenever I have 10btc. Though, the part the confuses me is the "only if 1000 people do the same." Eff that. I'm going to do it anyways.  I'm not going to help the community only if everyone else is.

[Littleshop]

So, went ahead and signed the pledge because I'll do my best to spend 10btc whenever I have 10btc. Though, the part the confuses me is the "only if 1000 people do the same." Eff that. I'm going to do it anyways.  I'm not going to help the community only if everyone else is.

I agree.  I have already spent more then 10 btc in august.  

I will continue to spend.  

[Elwar]

So, went ahead and signed the pledge because I'll do my best to spend 10btc whenever I have 10btc. Though, the part the confuses me is the "only if 1000 people do the same." Eff that. I'm going to do it anyways.  I'm not going to help the community only if everyone else is.

I agree.

The 1000 people pledge gives incentive for other people to support it knowing that there will be other people supporting it and they will all have a magnified affect. Instead of just a few people "doing what they can".

[BitcoinStars.com]

We already do more then 10 a month so it's easy to pledge 

[dayfall]

1000 people seems a bit much.  But I'll spend my 10 even without the pledge, especially if a local store here will accept them.

[Elwar]

1000 people seems a bit much.  But I'll spend my 10 even without the pledge, especially if a local store here will accept them.

True, even 100 people would have a big impact compared to the amount of Bitcoin spending going on right now.

But I was figuring that I would be inundated by naysayers saying "10,000 Bitcoins is a drop in a bucket compared to 6 million Bitcoins in supply". 1 million Bitcoins being spent per month would be close to the currency of some small countries.

But if we can hit 1000 people. Then we could have a significant impact on spurring the growth of Bitcoin.

[malbritten]

Ahem.

*points to sig*

 

[Phinnaeus Gage]

So, went ahead and signed the pledge because I'll do my best to spend 10btc whenever I have 10btc. Though, the part the confuses me is the "only if 1000 people do the same." Eff that. I'm going to do it anyways.  I'm not going to help the community only if everyone else is.

Good point on the "only if 1,000 people do the same" comment, otherwise you have something like what this JO did: https://bitcointalk.org/index.php?topic=34016.msg434059#msg434059