Bitcoin; a tool for spending or saving.

[LogitechMouse]

Bitcoin's acceptance amongst individuals and households is spending like wild fire, because of the various advantages it poses. Now comes the question; would you rather adopt Bitcoin as a tool for spending or saving? Yes, I'm guessing you'll say you use it for both. If your usage is going to be weighed, which side would unbalance the scale? As a tool for spending, it is flexible enough to be carried irrespective of volume and large purchases can be made, just to mention a few. As a tool for saving and a store of value. The value of the saved asset has great potential to appreciate. Which would you rather do?

The main reason why Bitcoin is created is to have a transactions without any third-party involved like what used to happen whenever we do transactions. The reason why it's created is to have a tool for us to spend, but over time, this concept of Bitcoin has changed, and instead of being a currency, it turned into an asset because of the fact that you can make money just by holding Bitcoins.

TBH, I can't blame them if that's how they look at Bitcoin because I also look at it that way, but at the same time, I also look at it as a tool for spending as well. If I will pick one though, I'll go with "a tool for saving" because we know that we really can make money with Bitcoin. Well, most here are saving Bitcoin, and not spending every single Satoshi that they're holding because they're afraid to lose some potential profits if they use it.

At the end of the day, Bitcoin can either be a tool for spending, or saving. It just depends on who the person is. I guess what's good to see with Bitcoin right now is the fact that it's becoming more and more popular as years passes by. Who knows, we might see more people use Bitcoin to buy something either offline or online.

[Stalker22]

~
At the end of the day, Bitcoin can either be a tool for spending, or saving. It just depends on who the person is. I guess what's good to see with Bitcoin right now is the fact that it's becoming more and more popular as years passes by. Who knows, we might see more people use Bitcoin to buy something either offline or online.

I dont mind spending some of my bitcoins sometimes.  But the main problem is that one cannot have both.  In order for a currency to be useful for transacting in day-to-day purchasing, it needs the stability and predictability of a "currency".  If I bought a sandwich with BTC today and it increased in value by 20% tomorrow, I could regret having purchased that sandwich with BTC and starting measuring BTC spending in terms of fiat currency amount instead of items purchased. The volatility of BTC is what makes it a great asset for some people, and a terrible currency for many.

I think you can hope for more people spending BTC to purchase products, and we might see that happen, but the only way that is going to happen is if people think it is losing its value as a store of value. When the price of BTC stabilizes, it will be more useful, and people will think of spending it.  It seems reasonable to me that until then, it primarily will be used as a store of value or a speculation asset for trading, instead of being used as a currency to transact with.

[mirakal]

Bitcoin is meant for spending, but people often prefer it to become an asset rather than a means of payment. It is the choice of the majority to have Bitcoin as a savings tool rather than a spending tool. Why? It is because they see a profit opportunity. If we see Bitcoin as nothing before because of its sole purpose, now it becomes valuable because of its earning potential. This thing gains more interest than just being a currency.

We admit the fact that people prefer paper money over Bitcoin (just for now). It will take several years before we see Bitcoin being considered as a full-fledged currency.

[MarjorieZimmermanGinger]

Bitcoin is meant for spending, but people often prefer it to become an asset rather than a means of payment. It is the choice of the majority to have Bitcoin as a savings tool rather than a spending tool. Why? It is because they see a profit opportunity. If we see Bitcoin as nothing before because of its sole purpose, now it becomes valuable because of its earning potential. This thing gains more interest than just being a currency.

We admit the fact that people prefer paper money over Bitcoin (just for now). It will take several years before we see Bitcoin being considered as a full-fledged currency.

Everyone has their own decisions regarding their approach to Bitcoin, and it's natural that most people prefer to treat it as an investment asset rather than using it to buy things. The reasons may vary, but most people see Bitcoin as a potentially valuable asset, making it a significant loss to use it solely for shopping rather than holding it long-term. Bitcoin can provide maximum returns in the long term, which is why people prefer to hold it long-term rather than buying things with it. For shopping, there are still options in fiat currency, so it's much better to use Bitcoin solely as an investment asset, unless in the future we see almost all countries begin to accept Bitcoin as legal tender.

[headingnorth]

Bitcoin has all the qualities of gold as a savings asset PLUS the ability to be used as a convenient form of payment
that can compete with cash and debit/credit cards.

That is a huge benefit over gold so it would be a huge waste not to take advantage of it.

[CryptoYar]

[...]

Main reason is if you use Bitcoin to buy something today you lose chance for that Bitcoin to be worth much more in future. It is smarter to spend regular money which loses value over time and save your Bitcoin which could gain value. This will likely remain case until Bitcoin price becomes more stable and it is used as legal currency in many places. Until then most people will see it as long term investment not as something to use for daily shopping.

[Bitcoin_people]

Bitcoin's acceptance amongst individuals and households is spending like wild fire, because of the various advantages it poses. Now comes the question; would you rather adopt Bitcoin as a tool for spending or saving? Yes, I'm guessing you'll say you use it for both. If your usage is going to be weighed, which side would unbalance the scale? As a tool for spending, it is flexible enough to be carried irrespective of volume and large purchases can be made, just to mention a few. As a tool for saving and a store of value. The value of the saved asset has great potential to appreciate. Which would you rather do?

Basically, to get high-quality financial support from Bitcoin in the future, it is most important to have a savings tool. If you use Bitcoin as a spending tool, it will run out and you will not be able to expect profit from it. We know that Bitcoin is a store of value, it will rise very soon, when you have Bitcoin to save, you will get a lot of returns there. And if you save and finish all the Bitcoins, when the Bitcoin market enters the high, your money will not grow, but you will only have to watch and regret it.
So my preference is to save Bitcoin and hold it for a long time, which will give me financial freedom in the future. That is why I will always choose the savings tool, it is never possible to profit from the spending tool, if you expect high profits in the future, you must save.

[shinratensei_]

Bitcoin's acceptance amongst individuals and households is spending like wild fire, because of the various advantages it poses. Now comes the question; would you rather adopt Bitcoin as a tool for spending or saving? Yes, I'm guessing you'll say you use it for both. If your usage is going to be weighed, which side would unbalance the scale? As a tool for spending, it is flexible enough to be carried irrespective of volume and large purchases can be made, just to mention a few. As a tool for saving and a store of value. The value of the saved asset has great potential to appreciate. Which would you rather do?

Of course both.
Can you imagine having the capability of spending while the currency you used increases in its value overtime.

It's all built in within bitcoin so honestly as a user you actually don't even need to choose between the two, You're already getting the best of both worlds here.
Though I'm using more of as a saving tool nowadays. Don't have the heart to spend it since I know value will appreciate.

[uchegod-21]

Bitcoin is both a spending tool and a savings tool. However, without being biased, I use bitcoin more as a long-term savings plan. I spend fiat more than I spend bitcoin. There are lots of bitcoin enthusiasts like me who see and use bitcoin the way I do. The thing is, lots of bitcoiners have limited the use case of bitcoin to just investments purposes only. There is more to this than just investments and/or trading which we have all upheld than what it was originally intended for.

[YOSHIE]

Now comes the question; would you rather adopt Bitcoin as a tool for spending or saving?

Not both of them no, but I prefer to use bitcoin as an exchange rate or investment.
The reason: we all know that not everyone in the real market understands about bitcoin, besides if it is spent, of course the cost is greater From the price of the item itself, so for me Bitcoin is very good to use as a exchange of Bitcoin to Fiat and vice versa.

Likewise with saving, it's too risky, you will never know the value of Bitcoin ahead, for now YES you see $ 110k, whether you can guarantee in the future, No, but if used as a futures investment it is possible, for example 1-4 years, then on sale or monthly profitable, Bitcoin is not real, Bitcoin Internet, risk remains.

[lizarder]

If your usage is going to be weighed, which side would unbalance the scale? As a tool for spending, it is flexible enough to be carried irrespective of volume and large purchases can be made, just to mention a few. As a tool for saving and a store of value. The value of the saved asset has great potential to appreciate. Which would you rather do?

It depends on which country you live in, as both can be used if your country doesn't prohibit Bitcoin as a legal means of transaction. My country only allows the use of Bitcoin for investment purposes, and forcing Bitcoin as a means of payment could lead to legal issues, so we prefer Bitcoin as an investment asset. It's unbalanced if you buy Bitcoin at a high price and then use it to buy something when the price drops.

I personally consider Bitcoin much more as an investment asset, and this is not only because my country prohibits Bitcoin as a legal means of transaction, but I prefer to hold it to achieve maximum profit from the investment process I am undertaking.

[Danica22]

Bitcoin is both a spending tool and a savings tool. However, without being biased, I use bitcoin more as a long-term savings plan. I spend fiat more than I spend bitcoin. There are lots of bitcoin enthusiasts like me who see and use bitcoin the way I do. The thing is, lots of bitcoiners have limited the use case of bitcoin to just investments purposes only. There is more to this than just investments and/or trading which we have all upheld than what it was originally intended for.

When asked, people will definitely say that bitcoin is both a spending tool and a long-term saving tool. But in reality, I believe anyone who owns bitcoin has the same purpose as you, which is to use it as a long-term savings plan instead of spending, including me.

Indeed, we, the bitcoin users, are limiting the scope of bitcoin usage and we only use it as an investment. We never intended to use it for its original purpose.

The truth is that Bitcoin was designed to be a currency but today it is only used as an investment. No one wants to use it for its original purpose.

[dzungmobile]

When asked, people will definitely say that bitcoin is both a spending tool and a long-term saving tool. But in reality, I believe anyone who owns bitcoin has the same purpose as you, which is to use it as a long-term savings plan instead of spending, including me.

Indeed, we, the bitcoin users, are limiting the scope of bitcoin usage and we only use it as an investment. We never intended to use it for its original purpose.

The truth is that Bitcoin was designed to be a currency but today it is only used as an investment. No one wants to use it for its original purpose.

When just started or in early phase of your investment and portfolio building, bitcoin accumulation, you will not want to sell your bitcoins. With time, your portfolio becomes bigger, and you also get profit from it (at least on paper before you cash it out), and your finance becomes better, you will have need of spending your bitcoins or cashing it out.

It comes to time for thinking of and even practicing DCA withdrawals.
JJG Sustainable Bitcoin Withdrawal Strategy.

[pawanjain]

Bitcoin's acceptance amongst individuals and households is spending like wild fire, because of the various advantages it poses. Now comes the question; would you rather adopt Bitcoin as a tool for spending or saving? Yes, I'm guessing you'll say you use it for both. If your usage is going to be weighed, which side would unbalance the scale? As a tool for spending, it is flexible enough to be carried irrespective of volume and large purchases can be made, just to mention a few. As a tool for saving and a store of value. The value of the saved asset has great potential to appreciate. Which would you rather do?

You have already answered your question. Many people here would answer the question as both.
The reason is very simple. Bitcoin is the best asset and can be used for investment/saving.
No investment made is of any use if you don't use it for spending on something.
Hence, when required, just use the bitcoin because it is very convenient to spend it.

[Alone055]

Bitcoin is both a spending tool and a savings tool. However, without being biased, I use bitcoin more as a long-term savings plan. I spend fiat more than I spend bitcoin. There are lots of bitcoin enthusiasts like me who see and use bitcoin the way I do. The thing is, lots of bitcoiners have limited the use case of bitcoin to just investments purposes only. There is more to this than just investments and/or trading which we have all upheld than what it was originally intended for.

The original reason for the creation of Bitcoin is barely known by the newly joined users of this industry, at least most of them don't even know, or care, for what Bitcoin was created for, what the story behind it is, and what the vision of its creator was behind creating Bitcoin. This is mostly because they see that it's an asset that grows in value, and they think it's only for investments, you buy it, store it for some time, and then sell it when its price goes up, and voila, you got some profit for the money you had used.

I don't blame them, though. Bitcoin's limited supply and increasing demand have made it like this, and now there are fewer ways for us to spend our Bitcoin, and there is more motivation to hold them because we know that's at least going to give us something back in a while. There aren't a lot of places around the globe where people can spend their Bitcoin for convenience. In our country, there are none, I know of no places where we can spend our Bitcoin, also because Bitcoin is not legally recognized yet.

[bitbollo]

Personally, I see bitcoin as a super tool, something that bring many concepts and advantages in the same place.
Probably the "saving" function arise mostly from the quick and clear advantage that you have when using it. Transactions cross border in matter of minutes, that can't be censored and are also public but pseudo anonymous give a clear hint versus other ways.
Now you can also access to DeFI and similar services with bitcoin. You must spend and save at the best time. Early you can join this economy early you can have the advantages.

[bangjoe]

It depends on how we use bitcoin, whether it will be used as an investment asset or a payment tool. Of course, if my country supports Bitcoin payments, I will use bitcoin as an alternative payment method for my purchases, but since Bitcoin is prohibited as a payment tool, I use it for investment.

In these two uses, bitcoin has advantages that can be maximized.

[WatChe]

Bitcoin is meant for spending, but people often prefer it to become an asset rather than a means of payment. It is the choice of the majority to have Bitcoin as a savings tool rather than a spending tool. Why? It is because they see a profit opportunity. If we see Bitcoin as nothing before because of its sole purpose, now it becomes valuable because of its earning potential. This thing gains more interest than just being a currency.

We admit the fact that people prefer paper money over Bitcoin (just for now). It will take several years before we see Bitcoin being considered as a full-fledged currency.

There are different factors that is impacting Bitcoin adoption. One is the fact that there are many countries where Bitcoin and crypto are still not legal, you can't use Bitcoin in such countries and the only option we have is to hodl. Moreover seeing the massive increase in price of Bitcoin over a small period of time, people prefer to hodl it rather then using it as a payment method.

Paper money has it's own worth and value because to meet our daily livings we need paper money. There is very rear chance that paper money will cease to exist in coming years.

[Obari]

Bitcoin's acceptance amongst individuals and households is spending like wild fire, because of the various advantages it poses. Now comes the question; would you rather adopt Bitcoin as a tool for spending or saving? Yes, I'm guessing you'll say you use it for both. If your usage is going to be weighed, which side would unbalance the scale? As a tool for spending, it is flexible enough to be carried irrespective of volume and large purchases can be made, just to mention a few. As a tool for saving and a store of value. The value of the saved asset has great potential to appreciate. Which would you rather do?

Personally I would want to use and treat bitcoin more as a saving tool rather than spending but currently my spending outweighs my saving and that because of my several health issues but nevertheless, I think the system greatly both parties to be actively involved in the process to balance the system.

I’m trying to think the other way round and I think if we’re not yet fixed on what area we fit in then we just enjoy the grove and what matters is that we are gaining something positive from bitcoin, either long term or short term

[coolcoinz]

It's unmatched as a tool for saving. It's like being able to monetize the Internet in the 90s. If you could have a stake in Apple in the early days, you would, right? But Apple depends on what the CEO does. If they sell the company, innovate, let it invest in some worthless projects.

IMO we have never seen anything like bitcoin, but the threat of it being acquired and centralized is still there, so probably in a few years most of it is going to be owned by large companies and governments. That said, if you own it, you're going to do great.

I know it was originally meant to be spent, but why would you spend something that keeps growing in value and hold fiat money that loses value? If you have 0 fiat income and need to spend bitcoin that's fine, but if you're holding 50% bitcoin and fiat, there's no reason to spend bitcoin.