Don't spend bitcoin. Not now.

[BitHodler]

Base on my perspective as a holder, I wouldn't really want to spend most of it now but nothing can stop me if I want to spend it for any purpose that I want.

As long as you avoid using exchanges as some sort of an online wallet provider, you will keep that freedom. The reality however is that most of the people nowadays don't have that freedom because of their confidence in exchanges.

I can somewhat understand that it's not easy to get starting in crypto with how different it is from what they are used to with banks, but they should have done that research before buying any cryptocurrency.

Banks have a proven trackrecord and generally don't screw you over, while crypto exchanges have done nothing but screw you over, where on top of that, exchanges are continuously being targeted by hackers because of the coins they store.

[1714776157]

1714776157

[clickerz]

Do not spend your Bitcoins. Not now.

So when? After it reaches some value!

Most people not spending their bitcoins anyway but they should spend if there is possibility for them to spend then only the adoption happens if everyone thins bitcoin should not be spend then this fact will stuck forever which could ruin the intention of system at some point.

First of all, if Bitcoin is not being spent do you think that the price would move up to this state? Even if there are miners who already existed it is still not enough to move the price of Bitcoin. The supply and demand are the ones that making the price moves and that is the start of adoption since people started to discover it, as more and more merchants are accepting Bitcoin.

Don't spend bitcoin for trading,spend it as money that is what I tried to say.If we keep using bitcoin only as trading purpose then it will never become a main stream payment.

You have a point here,if you refill and  use to spend bitcoin daily, I  think your losses is minimal that you wont feel maybe. But most are hoarding or holding it for long time  that it affects the supply. I agree with @OP  to not spend btc now, because  still its a good accumulation period.Though it will defeat its purpose as a currency but its worthy if you can hold and wait a little bit more.

[coin-investor]

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.

It's a fact and it's a gift for us and the best way to honor its creator is to use it as what it is intended for and that is by peer to peer transaction through buying and selling

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.

It's not 995 anymore I think it's higher because of the rapid adoption that Bitcoin is now ongoing, and it's only a matter of time

Do not spend your Bitcoins. Not now.

If we are going to do this  it will defeat it is going to defeat the purpose on why Satoshi created Bitcoin

[SummerBliss]

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.

This is not the right way to think. Bitcoin and dollar, both are same. The absolute value of both doesn't change. If I keep 1 USD today, it will remain 1 USD tomorrow. Similarly if we 1 BTC today, it will remain 1 BTC tomorrow. See there is no difference between the two!
But what mistake people do, they compare absolute value of USD with the relative value of BTC. Like Bitcoin, all currencies fluctuate in relation to one another. Like, BTC value fluctuates from $8000 to $8200 in a day, the value of USD also fluctuates in relation to other coins. For example, 1 USD worth 1.33 CAD today may fluctuate to 1.35 CAD tomorrow. Bitcoin's price is also like forex.

[pieppiep]

Besides saving my bitcoin, I also spend my bitcoin by converting into cash because I need that cash to buy my daily needs. That is what most people do with their bitcoin. But yes, we can save or spend depends on our purposes so if someone wants to save their bitcoin, then they can do it. That will happens to people who want to spend bitcoin.

But if all people who own bitcoin don't spend bitcoin, I don't think that bitcoin can grow or reach all people because bitcoin will not moves. It will stay like the beginning when it's invented. By using it, spend or saving, bitcoin will grow until now, and in the future, so it could reach more people so they can help bitcoin to grow more than now.

[coolcoinz]

Don't spend bitcoin for trading,spend it as money that is what I tried to say.If we keep using bitcoin only as trading purpose then it will never become a main stream payment.

The question I'm always asking people with opinions similar to yours is: Why would I spend Bitcoin that appreciates in  value and not fiat that depreciates?
I have fiat and Bitcoin, every month I earn fiat and Bitcoin. Fiat at work, bitcoin through a sig campaign. Why would I hold my fiat and spend Bitcoin? This is just unreasonable to me. I've been doing the opposite for years now and it's been great for me.

[TIDOVEE]

Not now! agreed!
It is made for investment! Agreed!
But whether stored, whether invested, it will be spend.
Bitcoin is best for investment because it's value is not stable.but in one way or the other no one keeps it forever.

[mersal]

~snip~

You have a point here,if you refill and  use to spend bitcoin daily, I  think your losses is minimal that you wont feel maybe. But most are hoarding or holding it for long time  that it affects the supply. I agree with @OP  to not spend btc now, because  still its a good accumulation period.Though it will defeat its purpose as a currency but its worthy if you can hold and wait a little bit more.

Holding bitcoin will help the market to go to the moon and that is what we should do right now. When the price of bitcoin is going down, we should get more bitcoins and keep them in a safe wallet like a hardware wallet and always think long term so you will not be tempted to spend bitcoin. Just think about bitcoin for being a retirement fund and not a currency to spend.

Don't spend bitcoin for trading,spend it as money that is what I tried to say.If we keep using bitcoin only as trading purpose then it will never become a main stream payment.

The question I'm always asking people with opinions similar to yours is: Why would I spend Bitcoin that appreciates in  value and not fiat that depreciates?
I have fiat and Bitcoin, every month I earn fiat and Bitcoin. Fiat at work, bitcoin through a sig campaign. Why would I hold my fiat and spend Bitcoin? This is just unreasonable to me. I've been doing the opposite for years now and it's been great for me.

So everyone see the bitcoin as investment thing over currency? There is no doubt that we can get more value for our bitcoin if we hold it for few more years but imagine if everyone think the same then what will happen? More people claim that bitcoin will not be replacing the fiat and people also will trust it over time if the same thing continues so real adoption will never happen,IMO.

[sunsilk]

Base on my perspective as a holder, I wouldn't really want to spend most of it now but nothing can stop me if I want to spend it for any purpose that I want.

As long as you avoid using exchanges as some sort of an online wallet provider, you will keep that freedom. The reality however is that most of the people nowadays don't have that freedom because of their confidence in exchanges.

Yes, I don't use exchanges as my wallet. I do use them to trade but after absorbing all of those suggestions here that never use an exchange as a wallet provider or even a cold storage, I've obeyed, followed and never done that again.

The trust that the other people is giving to exchanges these days is high because they are known and built their reputation for a very short time of operation just like Binance.

[alyssa85]

There is a misinterpretation of what Satoshi wrote in the Whitepaper: "A peer-to-peer eletronic cash system".

I think you are wrong.

Satoshi definitely intended bitcoin to be a payment system. Think about when bitcoin got launched - Januaary 2009 at the height of the Financial Crisis. Governments were forced to bail out the banks because if they didn't payment systems wouldn't work - businesses wouldn't be able to use banks to pay their staff, customers wouldn't be able to use their debit cards to buy stuff, people wouldn't be able to get cash out of banks.

In other words the bailout was entirely due to the threat to the payment system. If there was an alternative payment system, they'd have let the banks go bust and let the shareholders eat the losses. They let Lehman go bust because it was an investment bank and not involved in payment systems.

So Satoshi was definitely trying to create a new payment system that didn't depend on banks. The only trouble is that because there are a limited amount of coins, people are hoarding them instead of spending them. But other more inflationary coins like doge can be used as a payment system instead.

[rdluffy]

Besides saving my bitcoin, I also spend my bitcoin by converting into cash because I need that cash to buy my daily needs. That is what most people do with their bitcoin. But yes, we can save or spend depends on our purposes so if someone wants to save their bitcoin, then they can do it. That will happens to people who want to spend bitcoin.

But if all people who own bitcoin don't spend bitcoin, I don't think that bitcoin can grow or reach all people because bitcoin will not moves. It will stay like the beginning when it's invented. By using it, spend or saving, bitcoin will grow until now, and in the future, so it could reach more people so they can help bitcoin to grow more than now.

The beautiful thing of BTC is the fact that BTC is not an imutable thing

You can use BTC to spend for you daily needs, I can use for investment, another person can use for pay someone in another country in minutes with a little fee, another person use to gambling online, a company can use BTC to offer a good investment to their clients and the list can continue

Every kind of situation helps BTC, there's no only one use to BTC

[Ailmand]

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.

We will never know on what value will bitcoin stop. So, if you will just wait for it, you will just end up hoarding your bitcoin. There are times that you must sepnd your bitcoin for emergency purposes. Some investors also need topay their bills amd daily expenses. So, it is up to them when to spend. Just do not spend your bitcoin if ir is not that neccessary.

[Google+]

currently the price of bitcoin is still very cheap if the bitcoin that I have sold at the current price then I will only get a loss, I prefer to wait until bitcoin is difficult to find, it will make the price of bitcoin very expensive because basically bitcoin influencing supply and demand in the market.

[Oceat]

Don't spend bitcoin for trading,spend it as money that is what I tried to say.If we keep using bitcoin only as trading purpose then it will never become a main stream payment.

The question I'm always asking people with opinions similar to yours is: Why would I spend Bitcoin that appreciates in  value and not fiat that depreciates?
I have fiat and Bitcoin, every month I earn fiat and Bitcoin. Fiat at work, bitcoin through a sig campaign. Why would I hold my fiat and spend Bitcoin? This is just unreasonable to me. I've been doing the opposite for years now and it's been great for me.

So everyone see the bitcoin as investment thing over currency? There is no doubt that we can get more value for our bitcoin if we hold it for few more years but imagine if everyone think the same then what will happen? More people claim that bitcoin will not be replacing the fiat and people also will trust it over time if the same thing continues so real adoption will never happen,IMO.

Bitcoin was meant to be spent but people took the advantage of holding it because they knew that the price would appreciate in the future. If Bitcoin is not being spent how would it circulate? Well, most people nowadays find Bitcoin as an investment while some find it as a currency. Although Bitcoin may not work without the help of fiat.

[Apes]

I'm not an investment fanatic, but I'm someone who believes in bitcoin. I believe that bitcoin is basically used for peer to peer payment methods, but with the opening cryptocurrency exchange market made bitcoin price it has soared. prices are getting crazy and the use of bitcoin is changing, become an investment tool replacing gold. because the number of people who believe in bitcoin prices will definitely continue to grow, so try not to sell if you don't need cash.

[Pearls Before Swine]

I mean if yog just keep your bitcoin to your wallet and you did not use it you are not promoting bitcoin to the public and because of that no one will adopt bitcoin.

Something would have to go very wrong for fiat money in general for bitcoin to be widely adopted as a currency, and I'm thinking that the banking system would basically have to fail worldwide.  Thus in my opinion bitcoin won't ever be used as money as long as banks and fiat are still around. 

That doesnt mean bitcoin is useless.  Far from it.  Its a great investment and loads of traders have made fortunes with it.  In addition, there are people who use it as money and quite a number of physical and online shops do accept it for payment.  That will likely grow rather than shrink over time.

I'm not an investment fanatic, but I'm someone who believes in bitcoin. I believe that bitcoin is basically used for peer to peer payment methods, but with the opening cryptocurrency exchange market made bitcoin price it has soared.

There is always that important point of volatility...

The P2P payment aspect of bitcoin is important, I agree and there is still some anonymity with bitcoin transactions.  I would think most bitcoin users find that essential, along with not having to rely on a bank or payment processor in order to send money.  In my opinion that's bitcoin's fundamental advantage over fiat.

[negancoin]

No one control bitcoins and therefore no one can decide what someone else should do with his bitcoin, saying that Bitcoin was not made to spend doesn't make sense at all because it wasn't made to be just an investment either. If I buy 1 BTC as investment, I am not going to spend it because is an investment, but if I buy 1 BTC for my daily spending, I am not gonna hold it. The dream of no one selling his bitcoin to make the price moon to a crazy level is just not gonna happen, cos not all people are investors!

[hahay]

So what do you mean by bitcoin right now is only worth holding without having to use it or spend it for many purposes, I just feel if bitcoin is only hold or collected without any exchange happening, then how can bitcoin have value? So far, bitcoin has its own value because of an exchange that occurs and is widely used for various transactions in the world.

[Vaslime]

So what do you mean by bitcoin right now is only worth holding without having to use it or spend it for many purposes, I just feel if bitcoin is only hold or collected without any exchange happening, then how can bitcoin have value? So far, bitcoin has its own value because of an exchange that occurs and is widely used for various transactions in the world.

gather all the bitcoin you can have  and spend it when the time is right

[yulchatar]

I would like to accumulate bitcoins and not spend them until the moment when its price increases several times. But if I and everyone else act this way, then Bitcoin will lose all value. Supply and demand must act - these are the main economic laws and they also relate to bitcoin.