Don't spend bitcoin. Not now.

[khunyung]

This is absurd reasoning , bitcoin was created to show the application of Blockchain and revolutionise digital money as it become decentralised rather than what we currently have. It is true that we should focus more on increasing btc quantity rather just using for daily purpose but it is also its plus point that bitcoin is becoming widely popular as virtual gold asset with ability to use as general digital currency.

Are you suggesting that it's not time for Bitcoin to become a world currency? If your statement is like that then it's very disappointing for a community. we know that Bitcoin has been running for 10 years, and everything still looks good, even countries also see bitcoin as a currency, we should make it happen

Bitcoin won't be world currency until it is usable for anyone.
At this point it is handy for traders/investors and quite useful for countries, but it is worthless for regular person since you can't buy a coffee with it

[1714734579]

1714734579

[Vishnu.Reang]

Bitcoin won't be world currency until it is usable for anyone.
At this point it is handy for traders/investors and quite useful for countries, but it is worthless for regular person since you can't buy a coffee with it

Well.. that 's true. Even in Bitcoin markets such as Bitify, the prices are being pegged in fiat currency. Even if you are paying in BTC or any other crypto, the final cost of the product is fixed in fiat. Also, in most of the online markets, payments in Bitcoin are being immediately converted to fiat before it is deposited in the account of the seller. So you are right. We have a long way to go.

[JoMarrah Iarim Dan]

I am also not spending much of my bitcoins now and the real reason is because I am saving my bitcoin to the time when bitcoin price will go the moon again just like 2017. I want to earn more and more while it is still down. I am looking forward to what I will be earning in the future. Here in the PH, we are lucky enough that there are already people who accepts bitcoin, in cash bitcoin in a convenient store, or even in money transfers. It is kinda more like, many people are becoming aware in the existence of bitcoin but the sad thing is not all of them truly understand bitcoin/crypto.

[Moshaid]

More adoption of bitcoin will only emerge when it's usage is being utilized by people which is the transactions of payments. We can't keep preaching to people without having an already well structured system that makes use of bitcoin by people themselves. Hodling bitcoin is rather an opinion of an individual not for the general importance of bitcoin. By the time most of the traditional system starts accepting bitcoin transactions, then more people will be exposed to its usage.

[Xampeuu]

I am also not spending much of my bitcoins now and the real reason is because I am saving my bitcoin to the time when bitcoin price will go the moon again just like 2017. I want to earn more and more while it is still down. I am looking forward to what I will be earning in the future. Here in the PH, we are lucky enough that there are already people who accepts bitcoin, in cash bitcoin in a convenient store, or even in money transfers. It is kinda more like, many people are becoming aware in the existence of bitcoin but the sad thing is not all of them truly understand bitcoin/crypto.

by spending bitcoin when prices start for a bullish trend, it is very unfortunate, because they miss the opportunity to get more profit, except for those who trade, where they sell to buy back when the price correction occurs. but for long-term investment, of course, the current time is not right if we sell it all

[millionaireshs]

Bitcoin was not made to spend. Not for now. There is a misinterpretation of what Satoshi wrote in the Whitepaper: "A peer-to-peer eletronic cash system". He created bitcoin to be an electronic money system. This is a fact.

Before becoming a monetary system, Bitcoin must be able to preserve value over time. After that, he becomes able to earn society's trust and become a genuine cash.

People accept dollars because they believe that money is still backed by gold (as it was until the end of Bretton Woods), or because (unfortunately) they believe the government will guarantee the value of the currency.

That is, people believe in Dollar because they are sure that money will be at the same value tomorrow. Although this is not true.

99% of the world's population still does not understand, do not know and do not trust Bitcoin. And everything is fine. Bitcoin adoption is a lengthy process that may take decades or centuries to happen.

Bitcoin has never been about just being a simple means of payment. It is not like VISA or Mastercard. He is a legitimate Digital Asset and as such needs to earn trust until it is adopted as money.

Do not spend your Bitcoins. Not now.

On the other hand we cannot give people a false hope that someday if they invest in bitcoin it will surely give you a return. We are not sure about the future of crypto so it os very risky to invest on it however, yes it is possible to invest on it if you have other investment out there but if none dont ever do it. I prefer to start  first in traditional investing like in real estate or stockmarket if you are new to investing.

[ekans45]

Bitcoin was not made to spend. Not for now. There is a misinterpretation of what Satoshi wrote in the Whitepaper: "A peer-to-peer eletronic cash system". He created bitcoin to be an electronic money system. This is a fact.

Before becoming a monetary system, Bitcoin must be able to preserve value over time. After that, he becomes able to earn society's trust and become a genuine cash.

People accept dollars because they believe that money is still backed by gold (as it was until the end of Bretton Woods), or because (unfortunately) they believe the government will guarantee the value of the currency.

That is, people believe in Dollar because they are sure that money will be at the same value tomorrow. Although this is not true.

99% of the world's population still does not understand, do not know and do not trust Bitcoin. And everything is fine. Bitcoin adoption is a lengthy process that may take decades or centuries to happen.

Bitcoin has never been about just being a simple means of payment. It is not like VISA or Mastercard. He is a legitimate Digital Asset and as such needs to earn trust until it is adopted as money.

Do not spend your Bitcoins. Not now.

I believe this has a point. We should take bitcoin as an asset and not a currency for now because it has a value that can give us return as time goes by. As we all know it is new and we are not sure how it goes that is why it is very risky, however if it becomes something and we have bitcoin invested then it is good for us even we take the risk. So the point is that if you have some extra money you can try to invest it to bitcoin and just hold it for a long time

[micallco]

I think it’s reasonable not to spend bitcoin now. In any case, if we hold Bitcoin, we secure our future, since the price in any case should rise in the near future. Therefore, the one who sells bitcoin or spends it on something is at greater risk.

[matchi2011]

I am also not spending much of my bitcoins now and the real reason is because I am saving my bitcoin to the time when bitcoin price will go the moon again just like 2017. I want to earn more and more while it is still down. I am looking forward to what I will be earning in the future. Here in the PH, we are lucky enough that there are already people who accepts bitcoin, in cash bitcoin in a convenient store, or even in money transfers. It is kinda more like, many people are becoming aware in the existence of bitcoin but the sad thing is not all of them truly understand bitcoin/crypto.

by spending bitcoin when prices start for a bullish trend, it is very unfortunate, because they miss the opportunity to get more profit, except for those who trade, where they sell to buy back when the price correction occurs. but for long-term investment, of course, the current time is not right if we sell it all

It's not possible to those who don't know how things works with this market, Many holders spend their coins in inappropriate ways missing opportunities to gained from this business, having a good knowledge to make your investment profitable only works to people who knows how to play with every market movements.

[tvplus006]

It seems to me that it makes sense to just keep bitcoin for now. The market should go up, so it’s more rational to store bitcoins before they grow, and only then you can do something with them

If you use bitcoin as a long-term investment, then you must have funds that will allow you to cover your daily expenses. But if for you, earning in cryptocurrency is the main source of income, then you will have to spend bitcoin, regardless of its current price.

[dmatri]

Bitcoin was not made to spend. Not for now.

Do not spend your Bitcoins. Not now.

First thing i see the title my mind become dumbstruck i thought it was something that was shocking

[AitorMarcos]

It seems to me that it makes sense to just keep bitcoin for now. The market should go up, so it’s more rational to store bitcoins before they grow, and only then you can do something with them

why does it make sense? the price has gone up to $ 10k it looks like this is a signal to sell, I've sold it at $ 10k, and now the price is 9800, maybe this correction will determine the direction of bitcoin again

It doesn't make sense, but for another good reason. You can't really spend bitcoin, but you can sell it for usd and than spend it.
By that I mean - bitcoin is technically a currency, but in fact its an investment option.
You barely can live off of bitcoin

[bearexin]

Consider the fact that this topic was created in October 4th and now at 20+ page already, we can see that the topic hasn't really changed all that much. The sentiment is that bitcoin could be "spent" if you want to, or hold, but do not sell it. When enough people actually earn and spend instead of buy and sell we will see that not that money go out of bitcoin world anymore since there are less people selling it instead of spending it.

When less money goes out of bitcoin market that means there will be same amount of money (or maybe even less) go into bitcoin which will cause the price to go up as well. Bitcoin was actually meant to be spend when created, instead of selling it, not for holding it forever. In order to make bitcoin more worthy of a currency, we need to increase the earn/spend levels.

[Jateng]

Many bitcoin investors are already put their money in the hands of it and some traders gained money because of it's fluctuation. If you want to risk and make more bitcoin probably you will sell it in high price then wait in low price and buy again. Sometimes we need to spend it especially when we need it, it's a currency. I think it's normal thing. We need to spend it in order to develop and make people know that it's a new kind of currency making the price of it in the marker goes high.

[Subbir]

It seems to me that it makes sense to just keep bitcoin for now. The market should go up, so it’s more rational to store bitcoins before they grow, and only then you can do something with them

why does it make sense? the price has gone up to $ 10k it looks like this is a signal to sell, I've sold it at $ 10k, and now the price is 9800, maybe this correction will determine the direction of bitcoin again

It doesn't make sense, but for another good reason. You can't really spend bitcoin, but you can sell it for usd and than spend it.
By that I mean - bitcoin is technically a currency, but in fact its an investment option.
You barely can live off of bitcoin

Apart from surviving you only said that bitcoin may be a blast to carry on the worth of Bitcoin has risen above ever And now you've got to undertake to stay it for a short time without having to fool around selling it this is often likely to be above current prices later this year.

[Jeremy Franklin]

I agree, Bitcoin is not a cryptocurrency imo, its a cryptoinvestment.
its like gold. you hold it to have an investment. you could go buy something with gold (some stores should accept it), but not many people would do it because the value could be higher a few days later.

so, cryptoinvestment, not cryptocurrency imo

You got a point on this one. I would never use my Bitcoins currently and spend them for anything right now. They are safe in my wallet for the next years and are a long-term investment. Why would you spend them now, if you trust the tech and you are sure that they will be worth more in near future. That makes absolutely no sense. In addtion to that transaction costs are currently high and it makes no sense from that standpoint to spend them anyway.

[Gheka]

It seems to me that it makes sense to just keep bitcoin for now. The market should go up, so it’s more rational to store bitcoins before they grow, and only then you can do something with them

If you use bitcoin as a long-term investment, then you must have funds that will allow you to cover your daily expenses. But if for you, earning in cryptocurrency is the main source of income, then you will have to spend bitcoin, regardless of its current price.

Indeed, if our living costs rely on bitcoin and crypto, we are forced to convert into cash to spend at whatever price bitcoin is reaching, there is never a second option in this case, and so probably few people rely on crypto to get their main income, almost everyone always has a stable job before engaging in bitcoin, bitcoin is just an investment aspect to create a passive income stream and potential in the future. Spending bitcoin is never a job that is encouraged but I don't understand why some people here often suggest, maybe they want to lead newbie into the trap

[onrise]

I agree, Bitcoin is not a cryptocurrency imo, its a cryptoinvestment.
its like gold. you hold it to have an investment. you could go buy something with gold (some stores should accept it), but not many people would do it because the value could be higher a few days later.

so, cryptoinvestment, not cryptocurrency imo

You got a point on this one. I would never use my Bitcoins currently and spend them for anything right now. They are safe in my wallet for the next years and are a long-term investment. Why would you spend them now, if you trust the tech and you are sure that they will be worth more in near future. That makes absolutely no sense. In addtion to that transaction costs are currently high and it makes no sense from that standpoint to spend them anyway.

For people who are long term and not going to use it then better to store offline rather than saving it in wallets or on any exchanges for the safety purpose . I also prefer to save it and not sell when the markets are falling and intact when their is a fall in prefer to buy more and may be if require some money sell during highs at times .

[imstillthebest]

I agree, Bitcoin is not a cryptocurrency imo, its a cryptoinvestment.
its like gold. you hold it to have an investment. you could go buy something with gold (some stores should accept it), but not many people would do it because the value could be higher a few days later.

so, cryptoinvestment, not cryptocurrency imo

You got a point on this one. I would never use my Bitcoins currently and spend them for anything right now. They are safe in my wallet for the next years and are a long-term investment. Why would you spend them now, if you trust the tech and you are sure that they will be worth more in near future. That makes absolutely no sense. In addtion to that transaction costs are currently high and it makes no sense from that standpoint to spend them anyway.

For people who are long term and not going to use it then better to store offline rather than saving it in wallets or on any exchanges for the safety purpose . I also prefer to save it and not sell when the markets are falling and intact when their is a fall in prefer to buy more and may be if require some money sell during highs at times .

this is the mistake of a long term hodlers that they prefer storing online  . they can afford to buy and hodl but they dont take time to set up or buy an offline wallet   .

 not unless if they can accept the risk that entails with storing cryptos online   . on the other hand ,  cryptos are not really an investment  . call it hybrid investment slash currency would be better   .  i use my crypto for both purpose .  i dont really hodl for too long but i also sell it when i need money    

[ArIMy11]

99% of the world's population still does not understand, do not know and do not trust Bitcoin. And everything is fine. Bitcoin adoption is a lengthy process that may take decades or centuries to happen.

That is right because most of the people I encountered thinks that bitcoin is a networking or worst scam. But I have talked to someone whom I cannot judge up to extent he knows about bitcoin. He knows how to mine. He said he will used raspberry pi in mining then I told him how I am earning crypto and he said "posting quotes". Hmm, I do stopped and think that he does not know about this thing. Maybe he knows trading and mining and thats all. Looks like he does not know alts too.

I do not spend my bitcoin because my target for this year is to earn more bitcoin and if there will be a chance that bitcoin price will rise up again, I will sell those I have saved and continue to get some more bitcoins and other cryptos.