Is it wise to spend your Bitcoin

[yhiaali3]

Of course Hodling is the best, but sometimes you have to buy some essentials using bitcoin.

Personally, I hope to be able to accumulate as much bitcoin as possible, but often I have to sell because I need to spend on my family and buy the necessary needs.

Currently I am living off the income that comes from working in bitcoin and cryptocurrency so I don't have the means to Hodling in the long term. Although I am one of the people who believe in this strategy strongly.

[pixie85]

Nobody knows your situation, OP and nobody can tell you what to do.
A millionaire who has 10% of his wealth in bitcoin and if it all comes crashing down is still left with enough to live happily ever after will not spend because he can spend fiat money.
A poor guy who gets paid in bitcoin every week or month and has not enough fiat money to cover the bills will spend his coins because he cannot afford to hold.

A rich man will usually become richer, a poor guy will be to poor to invest and make more money. Try to live with a rich guy's mindset even when you're poor that's my advice to you.

[Bushdark]

Most persons purchase  most items using Bitcoin transactions I am of the opinion of hodling instead of spending pls is that a positive mindset?

Do not forget that you can always buy Bitcoin even when you are spending it. Spending your Bitcoin is not a bad idea especially when you spend it to promote the use of Bitcoin. I would prefer to use Bitcoin to pay for transactions or to buy something online. For you to spend your Bitcoin purchasing something does not mean that you are doing yourself harm but I see it as a medium to show the world that Bitcoin can be used to as a digital currency and a medium for payment of goods and services. This is the only way we can pass the message to the world about Bitcoin.

[decodx]

Whether it is wise to spend your Bitcoin or not depends on your individual circumstances and your investment goals. Some argue that Bitcoin is a good investment and should be held for the long term, while others believe that it is important to use Bitcoin as a currency and spend it like any other money. Personally, I like to save every satoshi I earn, but it's not always easy. Some days, it feels like there is no end to the number of things I could buy with my Bitcoin. Other days, I feel like I'm wasting money if I buy anything at all. The key is to be smart about it. If you want to build wealth with Bitcoin, it is important to be patient and resist the temptation.

[SamReomo]

Most persons purchase  most items using Bitcoin transactions I am of the opinion of hodling instead of spending pls is that a positive mindset?

Hi buddy! You can either use your Bitcoin to buy stuff or just keep it. But I heard that it's better to keep it because it might go up in price soon! So if you use it to buy things now, you might be sorry later. It's kinda like having a super rare baseball card and trading it for a candy bar. So think about it as much as possible before spending your Bitcoin. Good luck, my friend!

[TimeTeller]

Whether it is wise to spend your Bitcoin or not depends on your individual circumstances and your investment goals. Some argue that Bitcoin is a good investment and should be held for the long term, while others believe that it is important to use Bitcoin as a currency and spend it like any other money. Personally, I like to save every satoshi I earn, but it's not always easy. Some days, it feels like there is no end to the number of things I could buy with my Bitcoin. Other days, I feel like I'm wasting money if I buy anything at all. The key is to be smart about it. If you want to build wealth with Bitcoin, it is important to be patient and resist the temptation.

We have our own preferences when it comes to bitcoin. Some do really need to spend for basic expenses.
But some can afford to hold it long-term. You are lucky if you're one of those who can hold your satoshis for so long.
Whereas, some can easily convert their btc to their fiat to buy something what they need.
So long you are not wasting your satoshis to unnecessary things, I can consider that you are treating it as a valuable asset.
If you think you are using btc to something important, then, don't regret cashing it out.
You can always find a way how to replace it. As long as you are alive, you have your chance to work for it.

[BITCOIN4X]

Most persons purchase  most items using Bitcoin transactions I am of the opinion of hodling instead of spending pls is that a positive mindset?

Bitcoin is an alternative to fiat, meaning that if you think bitcoin is money then it should be wise to spend it for your needs. Some users spend it on gambling, buying valuables, computers, medical expenses, or anything else that accepts bitcoins as a means of payment. So it's a wise choice as long as you agree with the payment method. If you are planning bitcoin as an investment asset, then it is unwise to spend your bitcoins on something that is not profitable.

[deathcode]

Most persons purchase  most items using Bitcoin transactions I am of the opinion of hodling instead of spending pls is that a positive mindset?

Wise or not it depends on each individual. Each individual has their own plans and goals for buying and owning Bitcoin. No need to think about other people's plans and goals in their investment in Bitcoin, it's better to focus on your own plans and goals.
If you have a plan and goal to hold your Bitcoin or Holding as long or according to the plan you set, then sell it when you feel you have made a lot of profit, then that's great.
But if someone spends their Bitcoin to spend on an item that doesn't mean he or she isn't wise. He takes advantage of the Bitcoin he has by spending it and that's their right, remember that everyone has their own goals for Bitcoin.
What is not wise is if someone buys or owns Bitcoin but only keeps it as a collection and does not sell or use it at all.

[lalabotax]

Most persons purchase  most items using Bitcoin transactions I am of the opinion of hodling instead of spending pls is that a positive mindset?

This is each of the purposes of Bitcoin, not only to act as an investment asset but also a means of payment. The more people use Bitcoin, then that means the progress will be even better, the more Bitcoin can be accepted in society and the real use case can really happen, especially with the existence of global payments using Bitcoin, this will add to Bitcoin's good reputation. And of course this will impact on the price of Bitcoin. But again, this will depend on each one because holding Bitcoin is also very good for increasing the value of assets.

[n0ne]

Everyone have got their own understanding and their own priority things. When it comes to bitcoin, it is much preferred as an asset that assure with better growth in long term. For this reason people prefer to hold bitcoin and spend bitcoin on very rare occasions. My choice is to hold for long term, but when we have a situation to switch between health and bitcoin, first choice is health. By the time if we don't sell we might not be able to spend what we've been holding. So, based on the need my choice differ between holding and selling.

[Issa56]

Most persons purchase  most items using Bitcoin transactions I am of the opinion of hodling instead of spending pls is that a positive mindset?

If you think Bitcoin was created to buy and hold alone you are wrong, the purpose of bitcoin is not about buying and holding alone, we are suppose to be making transactions with it, if everyone is buying and holding bitcoin alone without we spending it, then bitcoin is not fulfilling its purpose, I think it's a very good idea to make transactions with bitcoin, am sure it will increase bitcoin awareness and adoption. It's a good idea to hold bitcoin but we should also spend our bitcoin some time.

[DiMarxist]

As long as you take advantage by spending your Bitcoin, why not do it? Spending Bitcoin doesn't always mean selling it for getting profits (for investment purposes). You may spend Bitcoin for buying goods, it is a legal currency in a few countries, right? So, using Bitcoin as a payment tool is okay for me. However, if you only have Bitcoin for an investment, it is better to hold until bullrun season. There is no big advantage to selling the Bitcoin now, the price is only half of its ATH. Why don't we wait for BTC to achieve its ATH again? That time is the best time to sell it.

The current price of bitcoin is just a third of the ATH of the moment. Why don't we wait for BTC to achieve its ATH again? That time is the best time to sell it,  many cases that have befallen crypto projects such as FTX and Luna have had a major and direct effect on price reductions,The bull runs any time it's doesn't matter at the current price of bitcoin,well the  choice is yours for us to do our purchasing during some time,and it is not bad to purchasing in somethings that will harm yourself.

[sulendra12]

Most persons purchase  most items using Bitcoin transactions I am of the opinion of hodling instead of spending pls is that a positive mindset?

They are free to do whatever they want with their Bitcoin, because it is their asset anyway. Either they use it for currency, investment or privacy reasons or to make a transaction, it's up to them to decide. As long as they use it for non-bad reason then it's a positive mindset. Although mostly people use it for currency where it's not what originally Bitcoin made for but it's never been a problem because like I said earlier you are free to do anything with it.

[bitzizzix]

Most persons purchase  most items using Bitcoin transactions I am of the opinion of hodling instead of spending pls is that a positive mindset?

If bitcoins were legal in the country where I live and also all stores accepted bitcoins as an alternative to paying in bitcoins I would use them. But that doesn't mean I will make all transactions or purchases using bitcoin because if fiat can still be used I will still prioritize fiat for transactions, and bitcoin only for a few items.
and i think if people just hoard bitcoin and it's not used for anything you'll end up with a bubble and the price will stop going up. In order to go up, someone, somewhere has to be willing to use it for transactions or something other than speculation.

[Adbitco]

Most persons purchase  most items using Bitcoin transactions I am of the opinion of hodling instead of spending pls is that a positive mindset?

Those people buying goods are very more confident making payment using bitcoin maybe is just for a choice, know one thing about bitcoin naturally. It was created for an alternative means of payment in other to assist fiat whenever there is a barrier or delay in processing of fiat then bitcoin would scale through that part easily without limitation and delay process. But people now finds it valuable to hold than just using it for the transaction purpose it was created for, if it was used for transactions then such person is right and is utilizing the sole purpose of bitcoin.
You may hold or used it for transaction, there is no limitation or law that holds you not to spend your bitcoin when needed, many decides to use it for making payments and others considers it to be a valuable assets to invest on.

[OgNasty]

That’s sort of the problem with deflationary (by comparison to traditional fiat) currencies. People don’t want to spend, they want to save. That greatly reduces the velocity of money in the economy and reduces the amount of taxable events that the government can benefit from. That is why the government prefers inflation to deflation, but recently they’ve gone way too far.

[Yatsan]

Most persons purchase  most items using Bitcoin transactions I am of the opinion of hodling instead of spending pls is that a positive mindset?

Most people? No. Majority of the people here in this industry are investors. Bitcoin as a currency is still worrisome; the market price changes from time to time and also, still not acceptable to majority of countries. At the present, people could make use of it more of an investment than a mode of payment. Its volatility happened to be beneficial to investors wherein it generates profit in every pump and dump in its value. And if I guess, Bitcoin and other cryptocurrencies are only used on this industry by means of project engagements and the likes. But on daily transactions, I doubt. There would only be a possibility for Bitcoin to be used as a mode of payment on big transactions, to avoid taxes.

[SatoPrincess]

Most persons purchase  most items using Bitcoin transactions I am of the opinion of hodling instead of spending pls is that a positive mindset?

The choice is yours how you want to use your bitcoins, I think the bitcoin community is spilt, there are those like yourself who believe we should hodl long term and never use our bitcoins, and those who believe bitcoin is meant to be used as a currency. Both school of thought are correct, bitcoin serves the two purposes, bitcoin is an asset and also a currency, spending a few sats on groceries if you can find a store that accepts bitcoin should be an exciting experience for a bitcoiner.

[taufik123]

This choice depends on the Bitcoin owner. Whether you spend Bitcoin or hold it is the same.
Spending Bitcoin with goods or services that support bitcoin payments is already supporting Bitcoin as a means of payment and the purpose for which Bitcoin is used. But if you hold for the long term, it will be a good investment with greater returns over a period of time.

-snip-
 But on daily transactions, I doubt. There would only be a possibility for Bitcoin to be used as a mode of payment on big transactions, to avoid taxes.

Daily transactions are still not possible if you have not used a cheaper network such as the Lightning Network, it will provide a fairly expensive fee every time the transaction. But for large payments or transactions, it will certainly be beneficial to avoid tax deductions.
But large payments may only be made P2P and for goods or services on average only use small transactions, this has to do with regulations in each government.

[fadhilz123]

Most persons purchase  most items using Bitcoin transactions I am of the opinion of hodling instead of spending pls is that a positive mindset?

There's nothing wrong with that kind of mindset because maybe some people just want to prove that Bitcoin can now be used to buy several items with very easy transactions. But if you just want to save Bitcoins instead of spending them on buying goods, you are also not wrong and can adopt that mindset for yourself. And all this time you should also know that Bitcoin can now be used to buy goods like we use fiat, even though the transactions may be slightly different.