HODLers, spend your BTC

[SirLancelot]

You do have a good idea, and I have plans to store more money in bitcoin but the problem I'm having is that I don't any more money to invest in Bitcoin so I'm going to stay with the ones I already have invested. Right now I'm trying to save up a lot of money in fiat and also use these money to solve most of my needs at this time and things even got costly in my locality, seems like everyone is taking a privilege of this pandemic and using to make things costly.

So, this is not a time I want to be messing around and making investment, rather I need to keep more of fiat and use it for the necessary things. If I was one of these millionaires, it wouldn't be hard for me to pump more money in bitcoin and add extra coins to the ones I already HODL.

[Chris Barth]

It's so sad to see how people put all their eggs in one basket. Even with the kind of optimism I have for bitcoin, I can't wake up and invest all my life savings into it. Cause the day the basket slips off the table, you'll have to mop the gross from the eggs which you can't use to prepare even an omelette. See, we all should be smart! As the OP has said, invest in other things too. If you have 10,000 USD, don't go all bitcoin, or all gold, or all whatever. Split the money in favourable divisions and invest in various places. There's no way you'll wake up to a bad news of having lost all you have.

[dothebeats]

I would love to actually spend some of my coins and help the economy but there aren't just enough merchants out there that I can buy from. As of the moment, I'm out of coins, and most of my assets in stocks are also tanking. Basically my world is in shambles but there's nothing I can do about it but to wait this thing out and start over as if it's 2014 again. I'm pretty sure some had it worse than me, seeing that the pandemic took the world in a heartbeat. Right now the only sane investment is in gold and other precious metals as cryptocurrencies seem to be shaky as well. Even that in itself is risky as no one really knows when these things are over so keeping things in cash is still king.

[pixie85]

Yes, bitcoin didn't make it big in this crisis and I believe it should have. The whole economy went down in this crisis and god knows what people are doing with their money but they haven't invested much in crypto or gold or anything. The market has just went down which means most people are holding on to fiat which is another risk to themselves because if fiat falls then it would be a nightmare to them.

You mean sell it in cash?

Is this like what happened before?
Government telling the people to spend their money since so much are being saved in the piggy bank and not in real banks?
But, all the nations are having the same problem.
With that, all of us will have financial and economical issues. Which at the end, it is a race into which could perform best with pushing the economy to be better in a short amount of time.

No OP is talking about 'spending' bitcoins. There is a difference between 'spending' and 'selling'.
Spending bitcoin means to buy things with it or use it for making payments. Selling is to sell bitcoins for fiat, cash etc..

And what do you expect will happen with your coins once you spend them in a store?

Some will get exchanged immediately by a payment processor and some will be sold manually by the business owner because he'll have to restock and I doubt all companies he gets his stuff from accept Bitcoin.

What you understand is spending is not much different than selling for fiat. The only difference is that it's much more satisfying when you know you let some business owner know that accepting Bitcoin was really a good idea because there are clients who choose this type of payment.

[HardFacts]

Fantastical! People blame bitcoin for having not enough use cases, but don't we forget that we create them? Spending our coins is a one step toward or small contribution to the mass adoption.

WRONG, WRONG, WRONG...

BitCoin FAILED as a currency to make common payments for many real and valid technical reasons.  BitCoin is just NOT going to be used as common currency no matter how much you want to " wish " it into being.   I stopped " wishing " things into being when I was 5 years old, some people are just to dumb to ever figure out it does not work. 

Hard Facts

[panganib999]

The list of alternative investments are mostly good for short term and some are for long term but are having quite a more stable market value compared to bitcoin. Indeed the alternatives has lower risk of losing money but if you are really an investor you would more likely seek to an investment wherein risk is present but profit has a tendency to move faster because it will just be a waste of time waiting for not-so-big profit for a long period of time. It would be alike with saving your money in the bank. Risk should be taken as something usual in any investment. In bitcoin, such thing is obvious but people are still doing so for the reason that profit is enough to motivate them to invest, and wait because it was proven to be worthy.

Fantastical! People blame bitcoin for having not enough use cases, but don't we forget that we create them? Spending our coins is a one step toward or small contribution to the mass adoption.

WRONG, WRONG, WRONG...

BitCoin FAILED as a currency to make common payments for many real and valid technical reasons.  BitCoin is just NOT going to be used as common currency no matter how much you want to " wish " it into being.   I stopped " wishing " things into being when I was 5 years old, some people are just to dumb to ever figure out it does not work. 

Hard Facts

This is why Bitcoin and other cryptocurrencies are more likely being used as an investment and not to its actual purpose. But still, people do benefit from doing so, which I think is not a bad thing afterall.

[bearexin]

Yes there are lots of places where you can buying things online with bitcoin, but most of them are in the US, and you will get your package delivered the same day or next. But what about those in other countries where bitcoin is not widely accepted?

We have no other option than to just buy Bitcoin and hold them and only spend when we have transactions to make. The last time I made a purchase on a site that accepted Bitcoin it took me like more than a month before it arrived, because the seller had send it through mail services. Damn, that’s unlike local services where you get the product the same day. You can’t buy food online from a site that is in another country, before the food arrives it will decay.

[Assface16678]

Yes there are lots of places where you can buying things online with bitcoin, but most of them are in the US, and you will get your package delivered the same day or next. But what about those in other countries where bitcoin is not widely accepted?

We have no other option than to just buy Bitcoin and hold them and only spend when we have transactions to make. The last time I made a purchase on a site that accepted Bitcoin it took me like more than a month before it arrived, because the seller had send it through mail services. Damn, that’s unlike local services where you get the product the same day. You can’t buy food online from a site that is in another country, before the food arrives it will decay.

We cannot push other people to spend all of their money or bitcoins because they know the possibility of getting earnings too the same with the bitcoin also the halving is coming there is a chance that the market price of the bitcoin will increase for the next coming months and while the market price is the coins are too bought a lot of bitcoins are the lower price and sell high that basic concept you can now make a lot of earnings. Still, it has an effect to the whole market of the coins even many people bought bitcoin because many people hold their coins and the transaction of the bitcoin will not circulate and the market movement does not have a huge changes.

[Mpamaegbu]

I want you to consider this as a hodler. If we all hodl our coins, they don't circulate.

Remember that scarcity endows a thing with value, so to say. If more people hodl back their Bitcoin and don't sell, expectedly it will cause scarcity because demand will become greater than supply and price will begin to head up. We all want Bitcoin to appreciate in price, isn't it? So, don't you think this advice of yours is contradictory to the general and collective wish of the community?

[o_e_l_e_o]

But what about those in other countries where bitcoin is not widely accepted?

Then find somewhere local where bitcoin is accepted and shop there. You can't really blame bitcoin for long delivery times if you are choosing to shop from a company based on the other side of the world. Have a look at some of the following sites and see if you can find any local merchants or online retailers based in your country:
https://coinmap.org/
https://spending-bitcoin.com/
https://cryptwerk.com/

If not, then have a look at this thread to see if you can buy gift cards with bitcoin for any local retailers:
Gift cards providers

If not, then go out (well, maybe not at the moment, but after lockdown is over) and speak to small, independent, or family-run merchants and retailers. You might not be able to convince some big corporation to start accepting bitcoin, but in my experience, many small businesses will at least look in to it and consider it if you talk to them about it. Convince any nearby relatives, friends, or other bitcoin users to do so too. After all, these retailers want your business, and if accepting bitcoin achieves that, then many will be happy to try.

[Onuohakk]

How long you can hold bitcoin and altcoin? I have tired with many my assets altcoin like ethereum, litecoin, atom and bitcoin cash price going down. What better have I do with my assets keep holding or cut lost and take profit with investing in other altcoin or bitcoin.

As for me, I'll keep hodling my bitcoin and altcoin as long as I can. It doesn't matter how bad the market seems unfavorable now. This is the time to be investing in more if you can. This not the right time to give up. Bitcoin will surely put a smile on our face soon. It's not about how far we've gone, it's about how rich it will make us be at the end

[KrisAlex18]

I think that this would be the great option we have right now, for me I will not spend my BTC yet because I am still believe on bitcoin I know the it can still survive just like what happened before. If you are really into bitcoin, you know that bitcoin goes doen for about 1,700$ before which is lower than what we have experience right now when bitcoin reaches for about 3,900$ and now turns back to 7,000$, bitcoin is still safe have, it won't be dead.

The best thing to for now is just to keep your bitcoin while the value of it is not yet suit on your expectation and wants because bitcoin will rise again at the right time.

[CryptoBeast.mf]

Currency circulation is always the good way to keep the things going good as when a single person do pay bills of anything then the same money through that bill counts for anybody else and going in the same loop it comes towards the same person after the circulation for many persons.

[OrangeII]

I think that this would be the great option we have right now, for me I will not spend my BTC yet because I am still believe on bitcoin I know the it can still survive just like what happened before. If you are really into bitcoin, you know that bitcoin goes doen for about 1,700$ before which is lower than what we have experience right now when bitcoin reaches for about 3,900$ and now turns back to 7,000$, bitcoin is still safe have, it won't be dead.

The best thing to for now is just to keep your bitcoin while the value of it is not yet suit on your expectation and wants because bitcoin will rise again at the right time.

I also think that since the price reduction occurred, until now the recovery of the price of bitcoin is quite good. however, halving will arrive soon, and it will definitely affect the price, whether it's a lot or a little. I think that prices will soon increase in early May. spending the bitcoin that you have right now is still your choice, but try to think it over. we are waiting for this moment, and when it gets closer, you give up? Well, you should see the results first.