Don't spend bitcoin. Not now.

[bhabygrim]

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.

The decision should be made by the owner but I think it should be a great to spend it  to spread awareness .
This could attract other people to get into crypto but the problem is the owners who doesn't want the adoptation to move on.
I know that Bitcoin have a huge potential to grow so I guess the wallets or payment method  should give some rewards or cashback to the users who would use crypto as payment.

[uray]

How can other people gain their trust in adopting bitcoin if we, the ones who already know about bitcoin, won't be able to use it or spend it? By using or spending it, we are giving awareness so more people will be able to use it as well.

You are talking about a different subject altogether, if you want awareness about bitcoin and you want to spend where ever you can, then the major retail stores should start accepting bitcoin so that we will be able to use bitcoin. Other than that if you are spending the coins online how can you get the exposure you are talking about. Unless there is no other option to spend what is wrong in hoarding and keeping it as an asset.

[Colt81]

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.

In my own point of view, it depends to the bitcoin user on how they will use their bitcoin because there are people who invest and trade in bitcoin to provide their necessities, that is why they have their reasons on why do they spend their bitcoins. It's true that there are still people who don't trust bitcoin because of illegal acts, but in the near future people will realize that bitcoin can be trusted.

[NeuroticFish]

Do not spend your Bitcoins. Not now.

If people would go by what you're saying, Bitcoin would be no better than any dead altcoin.
You really think that those huge farms would mine Bitcoin if there wouldn't be a financial benefit (in fiat)?

Bitcoin is intended to be spent. It's "A peer-to-peer electronic cash system" system. And cash is not meant to hold under the mattress.
It would be good (nice) if we could try to enforce the spending instead of selling for fiat to increase the Bitcoin economy. But even that's near to impossible now.

[NathanJB]

I'm sorry but I don't agree with you. I want Bitcoin to become a currency more than an speculative asset. It is when Bitcoin becomes used as a currency that it truly fulfills its goal.

You may actually be right or wrong. I cannot say that because I have not studied in details the history of money. What I know for sure is that people were not ignorant when the modern world started using physical money. I think the majority did not know that it is not backed up by gold anymore but they don't care. What they probably had comfortable with in using it was the assurance from the government that the money they are using are under direct control and regulation of their government.

[Sithara007]

that is if you dont have anything aside from a bitcoin on your wallet . if that is your case then you dont have a choice to use your bitcoin or else you will be blackout if you dont pay your electric bill but if you have some money left on your physical wallet , why dont you use that first before thinking of using your bitcoins  . that is more ideal because its not volatile and its not hassel to use that  . while on bitcoin its hassel because some billing provider dont accept it directly and you can also have the ability to earn more if you hodl it for now .

Well.. let me talk about another scenario. Imagine 90% of my portfolio is consisted of cryptocurrency and the remaining 10% is made up of equities and mutual funds. And I have run out of cash, and I need to dip in to my savings to cover my expenses. Would you be willing to sell some of the mutual funds, despite them consisting just 10% of the savings? I would first encash some of my coins, or make a proportional spending (90/10) by cashing out from both my coin holdings and from the demat holdings. Ideally, I would be looking to bring down the proportion of cryptocurrency in my portfolio and to diversify it to reduce the risk.

[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.

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.

So you want some of us to sacrifice future profits for the greater good? Do you want to be the one to spend your Bitcoins now and deny yourself the possibility of earning big profit after the halving? If I spent my Bitcoins a year after buying them, I'd probably be at a loss and have a bunch of things that lost value when I took them out of the box.
I understand that for some of you spending might be "the right thing to do" but in 2 or 3 years you'll see that it really wasn't.

[jeraldskie11]

We can say that is the reason why Satoshi Nakamoto made Bitcoin. But I think it takes a lot of time to happen. Governments will do a devate for that and I think it has a possibility to win for the Bitcoin because they can see Bitcoin now is very good to our economy. We just need to have patience for it.

[agentx44]

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.

It was a nice statement actually and I do agree. Bitcoin was not made to be spent not as soon as it gets its key role on the global monetary system. It is also not the same as dollars though, even though dollars price is also volatile, the decrease and increase is really small unlike in bitcoin, its volatility can be massive. So better think about it first if you are going to spend your bitcoin now, imagine what you could have in the future if you will hold it first.

[doomistake]

What is wrong in spending Bitcoin? If you have expenses or utility bills to take care of, then I don't think that it will be a bad idea to cashout some of your coins. Once you are in a better position financially, you can buy back these coins. Now it is very easy to purchase and sell your coins, with so many exchanges and peer to peer platforms around.

Chill guys, it looks like OP was just trolling. It's kinda triggery what OP said but here is my explanation for that. Earnings bitcoins and not spending it will just make you insane to the crowds, tomorrow is never always promise, we can' bring bitcoins we have and other altcoins to our death, it will just go to nothing, resting on our hardware wallets and our love ones are trying to open it but they can't.

My rule is, I work hard to earn bitcoin, I shop hard after I turned my bitcoin into fiat, we just gotta live the life to the fullest, that is the reason why we are earning money since the first day.

[supercanada1]

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

I don't think that there is a misinterpretation about this. The very essence why Satoshi wrote it that way is for us to be able to have convenience in using electronic cash payment transactions same as we are using fiat money. So definitely, we are meant to use it and not just to keep it to ourselves.

How can other people gain their trust in adopting bitcoin if we, the ones who already know about bitcoin, won't be able to use it or spend it? By using or spending it, we are giving awareness so more people will be able to use it as well.

Bitcoin is a currency just like any other paper currency used throughout the world. The only difference is that bitcoin is completely a digital currency and such currencies have never been used earlier for buying things except for movies. As you said, bitcoin users are the ones who can make it common for those who are unaware of this currency by using daily purchasing and selling. The more bitcoin users, the more powerful it is.

[Findingnemo]

I am also following the fact of not spending bitcoin at the moment since the prices dumped after the small bullish movement but advising this to everyone is not a good thing to be honest because it will give more power to the price manipulators when there is no organic price movement on the demand and supply.

[ecnalubma]

We can’t just keep it for long period of time people might not know it exist. Bitcoin is more legitimate than paper money, I think when all Bitcoin is mined and will be scarce that would be the time that we will witness its real potential value. I believe that current prices are still young and still undervalued, but I will make sure that I have kept enough before the mine pool rans out of supply.

[Febo]

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.

Bitcoin is totally fine to be spent. Problem is that KYC and block chain analysis is cracking its pseudo anonymity. For digital cash to be fungible, that must not happen.  I would change your title into, dont spend Bitcoin that is linked to your identity.

[pixie85]

I still prefer not to spend my coins. There's inflationary and deflationary money. Inflationary money should be spent on goods that you need to use every day or goods that hold  value better than fiat. Deflationary money should be saved and spent for emergencies or treated like a retirement fund.

I would spend if there was a convenient way to do so but if I'm to buy a gift card or convert first I'll pass.

[djselery]

Bitcoin is mainly a cryptocurrency and it's created to be firstly a decentralized payment method. So, we have to deal with BTC as a currency and that's will ensure the increase of daily trading volume, and it will also help to increase the BTC's price.
In addition, I agree that's also considered, secondly, as a digital asset and deserve the long term holding.

[samcrypto]

What is wrong in spending Bitcoin? If you have expenses or utility bills to take care of, then I don't think that it will be a bad idea to cashout some of your coins. Once you are in a better position financially, you can buy back these coins. Now it is very easy to purchase and sell your coins, with so many exchanges and peer to peer platforms around.

I support this statemet, if you need the money then hesitate to spend your bitcoin because you have to do that instead of borrowing money just to save your bitcoin from cashing out. If the price of bitcoin dumps again then you can always buy bitcoin after all bitcoin should be use to buy and sell not just on holding.

[BitHodler]

Deflationary money should be saved and spent for emergencies or treated like a retirement fund. 

It technically shouldn't because it's money, but the way it works economically, is that people hoard what they see go up in value as the demand for it goes up. Bitcoin and gold fit in that category.

We have a lot of crypto currencies that do no longer print any tokens, so these are basically deflationary currencies, but since there is no demand for them, they keep slowly losing value to eventually become worthless.

Believe is a very important aspect that people tend to not pay any attention to, because it's largely believe that makes money good money. Bitcoin has some catching up to do in that field.

[KnightElite]

My goal is to increase the bitcoin that I have today and it is the reason why I always use cash even though bitcoin is now available payment in my community. I know the bitcoin will become more valuable and it is the reason why I keep it in my wallet and not spending it.

[sotoshihero]

My goal is to increase the bitcoin that I have today and it is the reason why I always use cash even though bitcoin is now available payment in my community. I know the bitcoin will become more valuable and it is the reason why I keep it in my wallet and not spending it.

I slowly accumulating bitcoin too. I am still hoping another bull run will come and its good to start saving now. Now, bitcoin price is good to buy, I tend to accumulate more as long as I can afford and have an extra cash to get it. I see many store slowly accepting bitcoin and I believe this will help make push for bitcoin price.