Bitcoin; a tool for spending or saving.

[CTO114]

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?

[Kennoichi]

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?

By saving, you mean investing, right?

And if that's what you mean, then I prefer to keep it as an investment. For example, Satoshi himself seems to prefer not to sell his Bitcoin because he believes in its potential future value, which will increase in the future.

So do I. It's great as a payment method, but the transaction confirmation times and other issues still make me uncomfortable. Especially considering the highly fluctuating transaction fees. We might not mind if the network transaction fees are low, but when there's a spike in network transaction fees, it can really discourage us from making transactions during that time.

[Zigabel]

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?

Saving will take a greater part of my Bitcoin usage because i mostly handle my Bitcoin with an investive mindset than i do to spend, if i am to spend, i have a fiat reserve from where i do my spending nevertheless, i am still open to direct bitcoin spend even tough it does look to me like a waste of money because i feel i pay more than the value of that commodity when i pay with Bitcoin, this is because due to volatility, i may make payments and leave the store and before i get home, the price of Bitcoin is already up there and the amount i transferred for the goods or services would have appreciated giving the person who received the payment some more money but if it were in my wallet i would have gotten that extra and if i had pied with fiat, the increase wouldn't affect that.

i may be sounding really weird and awkward but that is because mostly what i do with Bitcoin mostly is investing rather than purchase of items and commodities with my Bitcoin. its actually good to use bitcoin for spending because with that there's little to almost no limitation with the issues of payments wherever you are around the world provided its a city and a country where they are not against Bitcoin and actively fighting it.

[btc-marty]

Bitcoin is better for saving than for spending day to day. Fiat money keeps losing value because of inflation and endless printing, while Bitcoin has a fixed supply of 21M, nobody can just create more of it. It’s decentralized, can’t be easily censored, and you actually own it without needing a bank. That makes it a much stronger way to store value long term, even if payments with it aren’t always the most practical yet.


P.D: Save btc, spend fiat. (Save some fiat still but just for emergency)

[Alone055]

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?

Since Bitcoin is not yet legal in our country, we don't have places or businesses that accept Bitcoin directly, so the spending part isn't available for me or for people from my country. That's why those of us who use Bitcoin in our country are mostly using it as an investment tool. I wouldn't call it saving, because people don't put their money into Bitcoin only with the intention that they are saving that money for the future, but they do it because they know their money will appreciate in value over time, and that's what they want. If Bitcoin goes to $1m within a year, most people who said they would keep holding for a decade will also be selling their assets, at least most of them will.

Whether we accept it or not, the biggest reason for Bitcoin's worldwide acceptance and the interest people all around the globe are showing in it is barely because they want to use it as a payment method because they already have mediums for that and most people barely care about privacy or anonymity, it's because Bitcoin goes up in value, and they know they can make money from it. If Bitcoin was more stagnant since the beginning, it wouldn't reach where it is today this quickly.

[Despairo]

I go for 100% saving.

It's simple, if I don't see any benefit with the effort I spent, I will not choose it. Bitcoin could be best option if I want to pay something abroad, I don't need to use banks which charge high fees for abroad transactions.

For now, I have no needs to pay across country, that's why I'm saying I don't use Bitcoin for spending yet.

[aylabadia05]

Bitcoin can be used as an investment and as a means of shopping because it's a cash currency system.

Not everyone can use Bitcoin as a means of payment due to regulatory constraints, and I'm one of those people.
Since I can't use Bitcoin as a means of payment for shopping, I consider Bitcoin a long-term asset (investment) because it's a good hedge.

[Frankolala]

The bitcoin in my possession is the only investment that I have currently. I don't tend to sell it anytime soon because I see it as one of the most valuable asset that gives higher profits overtime. I don't want to miss out from the benefits of holding bitcoin in future. As for daily spending, bitcoin is not fully supported by my country government and I will love to keep my involvement in bitcoin a secret.

[bitzizzix]

I'm sure you know the only reason Bitcoin can't be spent is because of government restrictions, and I think this is what creates the imbalance. If Bitcoin were allowed to become legal tender, I'm sure everyone would spend and hold it like fiat currency.
So, for now, Bitcoin can only be used or treated as a very promising investment, and everyone is holding it to generate profits. However, I suspect they, or most of them, have spent or used Bitcoin for transactions, even if only a few times, including me. Although Bitcoin is banned as a means of payment in my country, I have used it personally with mutual consent, so you or anyone else never know whether they have used it or not, and it all depends on the circumstances.

[Nathrixxx]

would you rather adopt Bitcoin as a tool for spending or saving?

If you have money, it's either you save it, spend it or invest with it, it all depends on what we want from it, that is also a reason for us to learn more about it's various applicable uses, so that we can have the best application for it, another added advantage we stand to get from Bitcoin is in its holding, which is profitable over a long time, because it's a volatile digital currency and increases with time.

[aoluain]

would you rather adopt Bitcoin as a tool for spending or saving?

I have adopted Bitcoin to do both

I think its important to support the Bitcoin network/project/ecosystem by keeping
it circulating and saving/HODL'ing it too.

It was designed to be used as an instrument of exchange without a third party,
its important that we keep that going.

Its also beneficial that everyone HODL's a percentage, that contributes to the
market price which in turn keeps more people interested

Think of it as a win/win strategy.

[m2017]

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 original concept of bitcoin is to be used as a spending tool, i.e. as money. I like it because it allows to pay almost instantly (if the network is not congested) to any point in the world without any intermediaries. If I had to choose categorically, one or the other, then I would probably choose bitcoin as a payment tool, not a saving bitcoin provides as a speculative tool used to increase value. Let's admit that bitcoin is interesting not from the point of view of saving, but from the point of view of increasing value.

[Hatchy]

Which would you rather do?

You most likely already gave the answer of many users to your thread. Bitcoin like I'll always say is multipurpose in nature. It can be used for what so ever you want it to be, and it depends solely on the individual. Bitcoin can serve as a store of value, it can serve as a medium if exchange and whole lot more. Initially, satoshi wanted to create a monetary system where the government couldn't control. But bitcoin was designed to be more.

We know quite well that to be profitable from your bitcoin investments is by holding for long term purposes. The market has in so many cases proven to us why you as a bitcoin investor should only think about long term hold..

[Obim34]

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?

If i'm to weigh both options and pick one. I rather have more part of my income go into saving with Bitcoin. Saving in my context mean Investing. Although fiat are not useless, there are cases of transactions that will demand Bitcoin and others that fiat will do, why stress to  spend Bitcoin on behalf.

I keep on saying, if Bitcoin never hard the potential over ROI, there will be less people attracted to Bitcoin than the number of investors we have today. Bitcoin ability to raise profits after investing and holding is what makes Bitcoin worth the trend, as per spending (currency) not many spend in Bitcoin, we have more investors than spenders.

[mindrust]

Why not both? I mostly hodl my coins but If there is a situation where I don't want to use my credit card and the merchant accepts btc, then I'll be paying with crypto. I don't really like to restrict myself. I can become both a holder and a spender. Just because I hodl my coins doesn't mean I won't ever spend any and vice versa.

Think it like that, if nobody had spent their bitcoins in the past, we wouldn't be having this conversation today because bitcoin wouldn't have any value at all. Somebody had to pay thousands of btc for a damn pizza to start this chain reaction.

At this stage it doesn't matter at all because millions of people own btc all around the world. Some will hodl, some will spend, some will do both like me.

[Asiska02]

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?

Almost everyone will say they want to go for both but in reality people use it more for savings than they use it for spending. The reason some may give being that it can be used for saving as an asset promises to be profitable in the future while being used for spending daily will cost them losing some money more when the transaction fees gets higher which cannot be controlled. Satoshi’s mission was to make it alternative to the fiat currency and going by that means to be used for spending on a daily basis. It is good to also explore the investment aspect of it because it is good to invest in a profitable asset which promises good return in the future.

[Miles2006]

Honestly fiat is enough in terms of transaction purpose while treating bitcoin as an investment is more common, bitcoin asset is worth holding reason why majority of bitcoin enthusiasts don’t bother using their coin for transaction. Well, bitcoin is not accepted fully in my country and restrictions are applied except someone else wants to accept bitcoin as a means of payment without involving the bank then you can transact freely with the trader without a third party.
Bitcoin was never seen as an investment choice during the early days but, over time bitcoin gained more value so it’s more preferable holding for a good return, I understand when people still insist the use of bitcoin for transaction although we’ve seen stories where people end up regretting why they used their bitcoin because after some time the value keeps increasing for example I read a story about a man who used bitcoin to pay for his house rent and later regretted, generally it’s better we save.

[uche6215]

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?

Point of correction bitcoin is not a tool but a digital currency to spend. In most time newbies didn't what others have posted about bitcoin or they are lazy to browse the internet to know about bitcoin. From the whitepaper bitcoin was created as a digital currency for p2p transaction but when people started to see the store of value then the investment option came to and existence. 

[Darker45]

I admit I'm using Bitcoin more for saving than for spending. I do most of my transactions in cold cash. That remains the best way. I seldom purchase online. When I do, the store I'm mostly buying from doesn't accept Bitcoin.

I used to pay bills using Bitcoin through a local wallet, but everything would still be registered in their books in fiat. Apart from that, it was centralized and custodial. So, it was more or less pointless to use Bitcoin that way.

And since it's of no use saving in fiat, Bitcoin has become the attractive option.

[UchihaSarada]

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.

Bitcoin can be used for both purposes but a reminder for practice is your bitcoins must be stored in two different wallets at least.

The first wallet is for saving: means holding your bitcoins for passive profit over time. It should be a cold storage wallet.
The second wallet is for spending: means it is an active wallet with on chain transactions broadcasted from it. It is a hot wallet.

Hot or cold wallets, you must choose open source and non custodial wallet to store and use your bitcoin.
https://bitcoin.org/en/choose-your-wallet

Best Bitcoin wallets.
https://learnmeabitcoin.com/beginners/wallets/#best-wallets
https://www.lopp.net/bitcoin-information/recommended-wallets.html