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Author Topic: *** Pledge to spend 10 Bitcoins ***  (Read 1151 times)
Elwar
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August 08, 2011, 11:04:04 AM
 #1

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.

First seastead company actually selling sea homes: Ocean Builders https://ocean.builders  Of course we accept bitcoin.
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Mr.Bitcoin
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August 08, 2011, 11:54:40 AM
 #2

Where are you going to spend them?
Just curious.
-Mr.Btc
Elwar
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August 08, 2011, 01:48:06 PM
 #3

Where are you going to spend them?
Just curious.
-Mr.Btc

Good question, there are plenty of websites that accept Bitcoin now.

A quick check through https://en.bitcoin.it/wiki/Trade , I would probably start to buy solar panels at http://www.zumbador.com/

First seastead company actually selling sea homes: Ocean Builders https://ocean.builders  Of course we accept bitcoin.
noob_jul11
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August 08, 2011, 02:00:27 PM
 #4

I would but I don't have 10 btc to spend every month. I don't even have 10 btc now. lol ...
bitcoinXL
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August 08, 2011, 02:20:38 PM
 #5

I would but I don't have 10 btc to spend every month. I don't even have 10 btc now. lol ...
same here Grin
timmey
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August 08, 2011, 02:27:11 PM
 #6

Where are you going to spend them?
Spend them on Amazon -> http://spendbitcoins.com

Or spend them on porn Smiley
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payb.tc
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August 08, 2011, 02:30:32 PM
 #7

Where are you going to spend them?
Spend them on Amazon -> http://spendbitcoins.com

speaking of spendbitcoins.com, my next 10 btc will probably be spent at godaddy.
bitcoinXL
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August 08, 2011, 03:32:39 PM
 #8

Spend them on Amazon -> http://spendbitcoins.com

Or spend them on porn Smiley
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yay porn lol
redneck
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August 08, 2011, 04:42:08 PM
 #9

porn really they take btc sweet.....i would like solar panels myself... hmm we need more places to spend BTC   I am not looking to simple hold them and watch  the market that would drive me to drinking...more
indio007
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August 08, 2011, 04:49:23 PM
 #10

It's the non-bitcoin schmucks that are inhibiting trade.  Maybe we should pledge to only use BOD , bitcoins on delivery.
nomadwfs
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August 08, 2011, 10:47:17 PM
 #11

Guys, the problem with BTC is not that people aren't using them for spending.

The problem is there are no good places to spend them. Until merchants that currently accept BTC grow or larger merchants find a useful way to implement BTC, their "primary" purpose will not be realized.

BTC still has alot of problems, one of which will be gaining acceptance. Fiat currency doesn't have this problem; anywhere in the US a $5 bill is instantly recognizable to anyone of holding value. BTC still has a little to prove. Fiat currency also has the luxury of being supported by the government. For example, a 1 pound note is not nearly as useful in the US because it is hard to use it to obtain goods and services.

It will take time for the 'world at large' to trust BTC as a store of value, and more time for either established merchants to accept it, or new early adopter merchants that take BTC to grow large enough for BTC to be viable.


Think about how hard it is to buy BTC. The price fluxuates; BTC exchange services have hard times processing large orders, it's hard to get your fiat currency in and out of an exchange, and a certain exchange (ahem, MtGox) has been hacked and the market value has been manipulated. These prove to be obstacles.

Be patient and we'll see how this experiment goes.

I'm also holding onto my coins until the value stabilizes. =)
Elwar
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August 09, 2011, 10:55:07 AM
 #12

Guys, the problem with BTC is not that people aren't using them for spending.

The problem is there are no good places to spend them. Until merchants that currently accept BTC grow or larger merchants find a useful way to implement BTC, their "primary" purpose will not be realized.


It is a chicken and egg thing. Not enough merchants support Bitcoins because not enough people spend them. If you had to spend 10 BTC every month, you might start to push local merchants that you frequent to start accepting Bitcoins. Merchants who know that there are 10,000 Bitcoins flowing every month will want to tap into that revenue especially as the price goes up.

First seastead company actually selling sea homes: Ocean Builders https://ocean.builders  Of course we accept bitcoin.
redneck
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August 09, 2011, 02:07:53 PM
 #13

Well if I can find enough merchants accepting them I will spend mine. They are tough to get and the processing painfully slow.  I will do my part to spend lol
Elwar
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August 09, 2011, 06:36:52 PM
 #14

Well if I can find enough merchants accepting them I will spend mine. They are tough to get and the processing painfully slow.  I will do my part to spend lol

The first time through is usually around a week if going through the exchanges.

First seastead company actually selling sea homes: Ocean Builders https://ocean.builders  Of course we accept bitcoin.
indio007
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August 09, 2011, 07:06:58 PM
 #15

Well if I can find enough merchants accepting them I will spend mine. They are tough to get and the processing painfully slow.  I will do my part to spend lol


You can't find anything you like in here?


https://en.bitcoin.it/wiki/Trade
Mircea Popescu
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August 09, 2011, 11:04:45 PM
 #16

Seems like a very silly (read, real world politician-inspired) approach. If bitcoins are worth spending they will be spent. If they aren't worth spending, no pledge is worth anything.

But when you're done helping BTCs by pledging, maybe you and the 1000 people will pledge to being healthy. If I were mean I might have proposed being unaffected by gravity.
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August 10, 2011, 02:03:15 AM
 #17

I bought alpaca socks a week ago. I wanted to try getting beef jerky too, but I was in a hurry.

What I find annoying is that you always have to email someone about buying with BTC. Is there no payment processor and shopping cart solution for merchants to accept bitcoins?

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Jeremy West spendbitcoins.com
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August 10, 2011, 08:58:20 AM
 #18

Where are you going to spend them?
Spend them on Amazon -> http://spendbitcoins.com

speaking of spendbitcoins.com, my next 10 btc will probably be spent at godaddy.


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