Don't spend bitcoin. Not now.

[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.

I definitely agree. Bitcoin has experienced massive crisis over the past year but that doesn't mean it wouldn't go back high once again. We need to be patient if we really want to gain large profits and great investment in bitcoin. Do not give up on bitcoin so soon, it has made history from the past wherein the price fell down so hard but still it was able to rise back up again. You just need to believe and be smart on your decision making.

[shield132]

Bitcoin was not made to spend? Wait, what? Bitcoin is money, isn't it? I think yes, it is while also being a payment method, both, 2 in 1. And if we want to develop, we have to invest money in different things, if we just keep them, then what will be benefit? Imagine you have one million and do nothing with it, that's good or bad? I guess bad, you could start business which would create job for others, you would profit which seems beneficial for you. This profit brings you possibility to expand and develop and etc.
Also to be fair I don't agree with you cause to my mind bitcoin wasn't meant for massive usage, just remind what problems were caused by massive usage when price was 20k.

[Ryker1]

Well, for me that was a case to case basis. When the market shows red colors indicate on numbers of price, I expect to hold than to spend.
Absolutely OP was right, You should not spend bitcoin as of this moment since the value is very low and you might lose a huge amount of money so I would highly suggest to just keep on holding right now and wait for its value to double or triple the price before you will sell it in order for you to be able to have profit even if you are only working before.

Indeed, in every tiny number of bitcoin is very important to keep not just always cashing out and convert to fiat.

[Wysi]

Its not good time for us to spending our bitcoin stocks.at this moment bitcoin slowly but sure trying to recovered price could rise and stabel above $8k now.perhaps if there is some trigger we will see bitcoin will flying.moreover halving time will happen in near time.less than one year we will see bitcoin price could back to last all time high again.

It's the time for converting other altcoins into bitcoin rather than just selling off as the value of bitcoin is somewhat okay now which might fluctuate again but we have not seen a significant amount of fluctuation in few weeks so this might prove as buy time because value of most of the altcoin is paused at same level wherein bitcoin is making progress but people should not be disheartened by minor dumps. I refrain from predicting if bitcoin's value will go all time high or not as it's too complicated nowadays.

[Magkirap]

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 somehow agree with this idea. I believe that instead of spending it today we must hold or buy btcs or covert other alts to bitcoin. As we look at the chart there are no signs that it will be goes down. As a trader we must be aware on the environment of bitcoin and continuously updated by the latest news about crypto. Also, if there are no trading happen the price of btc will go down hardly, so it is better to have some transactions for it to become stable somehow.

[hahay]

Bitcoin was not made to spend? Wait, what? Bitcoin is money, isn't it? I think yes, it is while also being a payment method, both, 2 in 1. And if we want to develop, we have to invest money in different things, if we just keep them, then what will be benefit? Imagine you have one million and do nothing with it, that's good or bad? I guess bad, you could start business which would create job for others, you would profit which seems beneficial for you. This profit brings you possibility to expand and develop and etc.
Also to be fair I don't agree with you cause to my mind bitcoin wasn't meant for massive usage, just remind what problems were caused by massive usage when price was 20k.

That is the point, I just don't understand why some people think bitcoin is only good to hold for a long time without being used for anything like payment etc. This is a currency and digital money that has its own value and with its superiority in many things such as making fast transactions etc., so when bitcoin is only hold without being used for anything I am sure bitcoin will not be useful and will not continue to grow.

[DiamondCardz]

Bitcoin was not made to spend? Wait, what? Bitcoin is money, isn't it? I think yes, it is while also being a payment method, both, 2 in 1. And if we want to develop, we have to invest money in different things, if we just keep them, then what will be benefit? Imagine you have one million and do nothing with it, that's good or bad? I guess bad, you could start business which would create job for others, you would profit which seems beneficial for you. This profit brings you possibility to expand and develop and etc.
Also to be fair I don't agree with you cause to my mind bitcoin wasn't meant for massive usage, just remind what problems were caused by massive usage when price was 20k.

That is the point, I just don't understand why some people think bitcoin is only good to hold for a long time without being used for anything like payment etc. This is a currency and digital money that has its own value and with its superiority in many things such as making fast transactions etc., so when bitcoin is only hold without being used for anything I am sure bitcoin will not be useful and will not continue to grow.

Because people are greedy. I'd say 95% of people in the 'Bitcoin community' (or registered on this forum, to be honest) are just here to try and make some profit or get rich. It's a problem that was always going to happen when BTC started to rise in price massively, and you can see a huge difference in the attitudes and quality of arguments put across by people who got into BTC when it was worth $1 or $10 a coin and the people who jumped on after it was worth $1000 a coin.

Of course, there are some outliers, but unfortunately a lot of people only hopped on after seeing news coverage about its high value. To them, it's not a means of exchange, and they don't care about the awesome technology of blockchain, all the intricacies of the Bitcoin protocol - they just care about the BTC/USD exchange rate.

[serjent05]

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.
~Snipped
Do not spend your Bitcoins. Not now.

Ok, let us say we hold Bitcoin right now, how do you think the market will run?  And let us say we had established a high price because we did not spend or sell our Bitcoin, then all of a sudden a certain price is met and everyone sell/spend their Bitcoin, there will definitely a price crash thus making the price of Bitcoin less stable than it is right now.  Your idea is moot OP, with spending and trading, the real value of a certain item is established, not by holding it.

[Pearls Before Swine]

People accept dollars because they believe that money is still backed by gold

What?  In what parallel universe to people still think fiat money is backed by gold?  Young people would have no idea what you're talking about; old people would remember coming off the gold standard; and middle aged people are smart enough to realize that's a thing of the past.

I also disagree with how you characterize satoshi's vision.  Bitcoin is meant to be a form of electronic money, and what do you do with money?  Ya spend it! 

What I will agree with is that I won't be spending bitcoin now or probably ever.  That is not because its a poor form of money, because it is not.  It's because the opportunity cost of doing so could be really high, meaning if I spend bitcoin now I might be missing out on enormous profits if and when it starts moving back to its all time high and beyond.  Personally I think of bitcoin as a great investment and not so much as money, but not for the reasons you stated.

[Janation]

I somehow agree with this idea. I believe that instead of spending it today we must hold or buy btcs or covert other alts to bitcoin. As we look at the chart there are no signs that it will be goes down. As a trader we must be aware on the environment of bitcoin and continuously updated by the latest news about crypto. Also, if there are no trading happen the price of btc will go down hardly, so it is better to have some transactions for it to become stable somehow.

Obviously, it is the idea.

Since who would spend their Bitcoins knowing it will blow up in the near future.

As an investor and a trader of cryptocurrencies, we know how would the market behaves. It is just a matter of time and the price will again pump into something that would even blow our minds. If the price falls, take advantage of it, invest again, that is a great time to reinvest so you will not be regretting that you did not do that in the past. Just keep track of your other investments and don't commit to investing that quickly since it is not that easy to get a good profit especially with the volatility, it is a high risk.

[NewRanger]

Precisely if we have more money it is recommended to buy bitcoin. we will benefit in the next 2-3 years by keeping it in our wallet. I'm pretty sure that bitcoin will still survive. but the momentum is still unknown to us and what must be prepared is the investment we have made since now for the future

What price do you think bitcoin will rise to, in the next 2-3 years?
In my opinion, if we have a large capital, it never hurts to buy bitcoin now. But if the capital is a little, maybe it's a little less good because the current price is expensive. Because it's not good to risk everything we have in the hope that bitcoin will rise later.

we  have ways to accumulate bitcoin.not only from investing or trading.we know for some people buying  bitcoin will make their saving decrease alot.moreover if bitcoin price drop, it could make them stress.we must be creative in crypto market.there are many opportunity to  collect bitcoin freely.about price,many people believed after halving bitcoin price willl rise .

[akmal1984]

we  have ways to accumulate bitcoin.not only from investing or trading.we know for some people buying  bitcoin will make their saving decrease alot.moreover if bitcoin price drop, it could make them stress.we must be creative in crypto market.there are many opportunity to  collect bitcoin freely.about price,many people believed after halving bitcoin price willl rise .

Does that mean the moment is next year?A few months ago the price of bitcoin touched $ 13.xxx.now the price is at $ 8xxx .. what will it be going back to 13k usd?What makes me a little doubtful now is bitcoin as it is being pressed so that the price does not exceed 15k usd .I mean that it won't be allowed to pass the peak price that bitcoin ever got in 2017.
So maybe as you said I am more focused on collecting bitcoin through the line without buying for now

[matchi2011]

Its not good time for us to spending our bitcoin stocks.at this moment bitcoin slowly but sure trying to recovered price could rise and stabel above $8k now.perhaps if there is some trigger we will see bitcoin will flying.moreover halving time will happen in near time.less than one year we will see bitcoin price could back to last all time high again.

Precisely if we have more money it is recommended to buy bitcoin. we will benefit in the next 2-3 years by keeping it in our wallet. I'm pretty sure that bitcoin will still survive. but the momentum is still unknown to us and what must be prepared is the investment we have made since now for the future

And after surviving success will follow for sure. Bitcoin only have 21M in volume so if mass adoptions happened and this coin become recognized
all over the world, imagine the value that it can grow if many people begin to buy and hold every single sat that will be available in the market.
From that point of views, you will be able to assume how much profits to expect for holding your assets for the next  3-5 years.

[smyslov]

This post is very intriguing it seems OP did not know the nature of Bitcoin and on why it was created and why we the need to continuously trade Bitcoin, if there is no movement at all then Bitcoin will be a dead coin, just like all the other dead coin in the market, no sell or buy order,
people have a different views and opinions on what Bitcoin is and it's goal but we should all unite in promoting bitcoin as a means of payment not on not using it.

[huu78]

For now, it may not be the time because the market is currently down and continuing down. As you said people who have not recognized it will hesitate to invest.
But people who have been there for a long time will be trading for a short term to benefit.
I believe if BTC is a tool for future payment if its popularity will continue to rise. Want to save or not it is up to you to manage your money.

[sapnu]

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 is not really ideal to spend bitcoin now considering the fact that its price is still recovering from one of the worst crisis it has ever faced on all of its existence. We need to be mindful of the decisions we make right now because it will be the one responsible for the outcomes we'll recieve in the future. The volatility of bitcoin makes it more exciting to invest with, it can either be in your favor or not so make sure that you have all the patience to wait and see if your investment is worth waiting for.

[jakoylantern]

For me, it depends on the situation of the person; if you genuinely need to sell your bitcoin, don't hesitate because you need money, and it's your cryptos. But if you don't truly need some money, it's not perfect timing to sell it; even it's your profitable rate, I'm sure that you know bitcoin's price rate is increasing even it's fluctuating too much. Also, make another calculation, I think bitcoin will hit 8.3k - 8.5k after this month ends.

[bitzizzix]

Patience plays a big role when waiting for the price of bitcoin to rise in quite a long time, and that's where your position is being tested how strong your patience is to stay strong holding it.
and if you think smart in situations of low bitcoin prices, that is actually your chance to buy it to increase your bitcoin amount and hold it back, because when bitcoin decreases there will definitely be an increase and you have to wait to sell it back when bitcoin prices go back up.

[bitbunnny]

I would say that is always a good time for spending Bitcoin as it's always a good time for buying Bitcoin. I don't see Bitcoin only as an investment asset but also as something that could and should be used in real life. So it's important to find balance between spending and holding but I'm against that Bitcoin only seats idle in some wallet.

[coinfinger]

Many of us do panic selling when they hear some fuds and they can see some dip they are too afraid to lose bitcoins , we may not spend bitcoins we dont want but in order for the circulation of it we need to spend it, maybe in some other things, hoarding huge amount of bitcoins is not good for the economy.

Holding bitcoin for the purpose of  investment Alone is what I feel that is not proper because I feel that in that way,  we will not fully achieve the main target of bitcoin to be a payment system,  but I am not against people storing huge amount of bitcoin in their wallet, after all,  our goal is to make bitcoin replace the banking system that requires people storing money with bank.

Now that bitcoin is meant to replace banking system and allow us have full control over our fund entirely,  there is no way we can avoid people storing large amount of bitcoin in our Wallet and it will be from there that we will have to spend for any transaction that requires bitcoin payment. We should even be happy that we are getting response from people when they store their money in crypto.