Bitcoin; a tool for spending or saving.

[Distinctin]

My mindset is, go for fiat if you want to spend but focus on bitcoin if you want to save. While fiat depreciates in time, but bitcoin’s value appreciates. So I would prioritize saving bitcoin and only sell it in the future when its value has already reach its maximum value, although I have no idea what will be the highest price of bitcoin in the future.

Bitcoin is a hedge against inflation, and the more you will accumulate bitcoin, the higher chances you will never be a slave of inflation. And while there are still opportunities to keep buying and hodling, then there’s no reason not to go for it.

[Versatile_choice]

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?

Bitcoin is supposed to serve as a means of making savings and also a way of escaping inflation whenever it comes, Even though some persons might choose to hold it for a reason which is Best known to them but this is supposed to be our Major reason for holding bitcoin. But looking at it in other perspective I think there are countries that is using bitcoin as a means of exchange in thier country I mean people use bitcoin to purchase goods and services but I think this countries is rare. While in the country where i live we don't use bitcoin to purchase goods and services except you will have to convert it to our local fiat before spending, so people have been focusing in the savings aspect.

[bhadz]

My mindset is, go for fiat if you want to spend but focus on bitcoin if you want to save. While fiat depreciates in time, but bitcoin’s value appreciates. So I would prioritize saving bitcoin and only sell it in the future when its value has already reach its maximum value, although I have no idea what will be the highest price of bitcoin in the future.

We have those numbers in our minds if it's about the potential price in the future. And we have those targets that we're hoping someday will hit. The first one already happened when Bitcoin has reached $100k+ and I'm sure that many of us here have already sold and are now looking forward to the next wave of the bull run but maybe not for this cycle anymore. I agree that if we want to spend some of it, we'll choose fiat over bitcoin. Bitcoin has been the practice of each of us to save rather than to spend because of how it portrays the future prices in our thoughts based on how it's doing now.

[Findingnemo]

Just treat as the same money that you have been using those printed paper since you were born. And it is better because you will get the benefits like no inflation, no government can control or prohibit you from transacting.

Bitcoin is money, so it's up to the user to save it or spend it and if we talk about the majority of the people then the saving is what they do with bitcoin and in a popular the term 'HODL'.

[LDL]

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?

It's not really possible for me to accurately state whether I should use it as a savings or spending tool, especially when faced with a difficult situation. I haven't been able to deposit Bitcoin yet and have spent all of what I've earned, so it's important to mention it as a spending tool for me. However, based on its growing popularity and acceptance, it should not be considered just a spending tool. In this case, I will have to accumulate Bitcoin in the future, and its popularity and growing demand will make Bitcoin such a valuable currency that spending it now will eventually become a regret. So my decision is to prioritize Bitcoin as a savings tool rather than accepting it as a spending tool.

[Marvell1]

Bitcoin is money, so it's up to the user to save it or spend it and if we talk about the majority of the people then the saving is what they do with bitcoin and in a popular the term 'HODL'.

Yes, bitcoin is simply money and people can use it in any way they want. They can use it for saving or spending depending on their needs, because there are no rules or regulations that force us to spend or use it only as a form of savings. Let's use it in the way that makes us feel most comfortable.

For me, I prefer to use it as a long term savings tool rather than spend it. Because of its scarcity and appreciation over time compared to fiat money, using bitcoin as a savings tool is more beneficial.

[Solokan]

Bitcoin is a digital currency created by Satoshi Nakamoto. This certainly indicates that BTC can be used as a means of payment, as it is a digital currency. However, BTC is now widely used for investment, and there are also countries that allow BTC as a means of payment, so people there are allowed to use BTC as a means of payment and are also allowed to invest in BTC.

In my country, BTC is prohibited from being used as a means of payment, but my government allows its citizens to invest in BTC. So, of course, I choose to invest in BTC because buying BTC will certainly yield significant profits in the future, and of course, the money I'm prepared to lose is used to buy BTC.

[Findingnemo]

Bitcoin is money, so it's up to the user to save it or spend it and if we talk about the majority of the people then the saving is what they do with bitcoin and in a popular the term 'HODL'.

Yes, bitcoin is simply money and people can use it in any way they want. They can use it for saving or spending depending on their needs, because there are no rules or regulations that force us to spend or use it only as a form of savings. Let's use it in the way that makes us feel most comfortable.

For me, I prefer to use it as a long term savings tool rather than spend it. Because of its scarcity and appreciation over time compared to fiat money, using bitcoin as a savings tool is more beneficial.

t fiat as saving is stupid choice so it makes it obvious that bitcoin is the one that we should prefer in the long term. And we only need the fiat to spend on day t day life unless we got an option to pay in bitcoin. Saving and investing is long-term goal, whereas spending is something that we should do now so the comparison itself a not fair, though. It could have been bitcoin or stock/gold.

[MarjorieZimmermanGinger]

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?

There's no opportunity, especially in our country, to spend anything using Bitcoin because such transactions are prohibited, except for online shopping, which can be circumvented. But if asked personally what my choice would be between the two, I would definitely choose Bitcoin as an investment asset over Bitcoin for shopping, for reasons that are perhaps far more rational in my opinion. Bitcoin is a hedge and is very suitable for long-term investment, so spending something using Bitcoin is unnecessary for me, at least for now. You collect bitcoins gradually with the financial resources you have, so deciding to use bitcoins as a purchasing transaction at all is very unfortunate because I believe we will miss out on something very useful in the long term, especially regarding financial freedom.

[SOKO-DEKE]

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?

I believe almost everyone that adopted Bitcoin may have done so for both savings and spending. But the reason why most people focus on holding their Bitcoin as an investment is that Bitcoin is not legal in many countries. Because of this, people in those locations cannot exchange thwie bitcoin for anything unless they do it in secret, as it has not been granted legal status, Therefore, due to Bitcoin not being recognized as legal tender globally, its value as an investment weighs more heavily for people right now than its use as a medium of spending. That is why more people focus on Bitcoin as an investment.

[BlackBoss_]

I believe almost everyone that adopted Bitcoin may have done so for both savings and spending.

If you can buy, even before you decide to buy bitcoin, you must know that you are able to sell bitcoin later. So buying and selling are necessary couples to attract people to Bitcoin and it's unreasonable to think people only buy and hold, but won't or never sell bitcoin.

It's freedom to buy bitcoin if you want and you can do the same with selling - anytime you want as well.

But the reason why most people focus on holding their Bitcoin as an investment is that Bitcoin is not legal in many countries.

It's not actually like this.

People hold bitcoins because they believe in bitcoin, and they know that if they can hold bitcoins, they will get profit or even super good profit with bitcoins.
They know that if they sell bitcoins for cash, they will use cash for liability and lose it with time. If they sell bitcoins for shitcoins, their loss rate would be much bigger and faster.

Hold is key to success and get profit so why don't hold your bitcoin.
https://hodl.camp/

[shield132]

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?

In the world where organization like BlackRock forced SEC to approve Bitcoin Spot ETFs and invests billions of dollars into it, I'd say that Bitcoin is a tool for saving. In the past, I was always encouraging people to actively spend their Bitcoin to keep the network active, popular and to increase the Bitcoin adoption because active Bitcoin network means that it will inspire lots of stores to accept Bitcoin payments. Since people prefer to hold and organizations like BlackRock wants to hold too, along with governments, today I think that we, people should hold Bitcoin as much as possible to sell to them expensively and to keep the power in our hands and not in hands of big corporations.

[dzungmobile]

In the world where organization like BlackRock forced SEC to approve Bitcoin Spot ETFs and invests billions of dollars into it, I'd say that Bitcoin is a tool for saving. In the past, I was always encouraging people to actively spend their Bitcoin to keep the network active, popular and to increase the Bitcoin adoption because active Bitcoin network means that it will inspire lots of stores to accept Bitcoin payments. Since people prefer to hold and organizations like BlackRock wants to hold too, along with governments, today I think that we, people should hold Bitcoin as much as possible to sell to them expensively and to keep the power in our hands and not in hands of big corporations.

BlackRock is part of participants in Bitcoin Spot ETF application wave in 2023 but they are not a main factor for their first time ever approval for Bitcoin Spot ETFs from SEC. The main contributor is Grayscale with their lawsuit against SEC and they won it. This success of Grayscale signaled that SEC can not refuse Bitcoin Spot ETFs and they only tried to delay it but time was counting down especially after that lawsuit with Grayscale.

BlackRock would have not joined Bitcoin Spot ETF if there has not had such a won lawsuit from Grayscale. BlackRock deserved to be appreciated with with their participation and contribution for the approvals but Grayscale certainly are deserved to be recognized too.

[Marvelockg]

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.

Every asset that can be used as both a medium of exchange and that can be held for the sake of the returns it posses always serves multiple purposes one which is for savings for the sake of returns and the other for spending when the need arises. Primarily, bitcoin was invented to solve the problem that is associated with spending so if an holder of bitcoin decides to just hold and not spend his bitcoin, it is indirectly doing a disservice to all that bitcoin stands for.

Because people are more interesting in holding what promises them returns, it is safe to say that bitcoin is gradually becoming an asset that is better held for the long run than spent because holding it is more profitable than spending it. the fiat is there which is constantly loosing it value due to poor government decision and the issue of inflation that is ravaging the land and so, it is only reasonable to spend the fiat and keep possession of bitcoin which is far more valuable that the fiat.

[Patikno]

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 Bitcoin were accepted as legal tender, especially across countries or the world, it would undoubtedly be an option for both spending and saving. However, we know that currently, there are several restrictions, so most people are saving Bitcoin, or perhaps what could be called a "reserve asset". However, I believe it would be better if Bitcoin could be used for both purposes, as this would allow anyone to save and spend financially securely. This would be very different from storing fiat currency, which has a high potential for depreciation due to inflation, especially if money is printed at any time, when policy requires it, even though there is no clear fundamental or underlying at all, and some say the underlying is "confidence", is this real ? cmiiw.

Personally I would use it for both, but for now I can only use it for saving because of the restriction on spending using Bitcoin in my country, and if both are possible, then I will leave fiat, switch to Bitcoin forever, and I am sure people who understand Bitcoin will do the same.

[Muba20]

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?

Bitcoin helps you sevings as well as push you to spend. Because Bitcoin is something where you dream big. If you can be patient and hold on, you will get a lot of profit, but if you can't be patient, you will regret it. Again, many times, holding Bitcoin will make you spend a lot with high expectations because you think that you are going to get something big from Bitcoin. It is a simple matter that the more money you expect to own, the more your spending mentality will increase. I would say that Bitcoin works in both the savings and spending directions.

A person's attitude towards Bitcoin will determine whether that person will be interested in holding Bitcoin or spending it. In general, those who believe in long-term investment will definitely try to increase the amount of Bitcoin. Those who think of Bitcoin only as a transaction tool will not be very interested in saving it.

Since 2009, the price of Bitcoin has been increasing. Everyone who is holding it is benefiting, and one of the reasons for this benefit is that it has a fixed supply of 21 million. When the supply is limited, in economic terms, demand will increase and ultimately those who hold it will benefit the most.

Bitcoin also plays an important role in protecting wealth from inflation. Spending Bitcoin increases long-term regret, while those who patiently accumulate Bitcoin over a long period of time they will get the advantage of holding.

[KiaKia]

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.

You are wrong, saving isn't investing, savings means you plan to use it later or not too distant in the future but investment is accepting that you will probably lose your money or make more in the future.

Savings is when you keep a fixed amount aside, meaning it should be in dollars or other stable coins, volatility is present in bitcoin that's why savings can feel wrong with Bitcoin.

It doesn't matter which purpose they serves the adopters, it's a matter of what investors intent to use Bitcoin for, Bitcoin can serve in both ways.

[Mekie21]

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?

As you've said Bitcoin is more preferable being saved rather than spending because of it's potentials, we've known so far, as the years go by, the price of Bitcoin keep rising, always exceeding the previous highs. Talking about a long term saving, at least minimum of 5-10 years then you can withdraw your profit so as to enjoy your investment.

[Awaklara]

If your usage is going to be weighed, which side would unbalance the scale?

Although I have used Bitcoin for purchase transactions a few times, I certainly don't do it all the time. In fact, it's very rare. I mostly use it just for transactions to exchanges or for fun with casinos.
There are still many limitations to the use of Bitcoin around me. So I still prioritize saving Bitcoin rather than using it for shopping. Perhaps it will be different when there are more places that can actually accept Bitcoin as a payment method. As someone who owns Bitcoin, using it for shopping transactions would not be a burden.

[Onyeeze]

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?

it is obvious that most people who have bitcoin today there are saving instead of using Bitcoin to make any exchange of goods and services like buying things for themselves, most people who use bitcoin today there are using bitcoin for profit measure there are not using bitcoin to bank bitcoin or to stop Bitcoin for any other thing except for profit purpose that is the reason why you see most people who use Bitcoin are using bitcoin today, so bitcoin are mostly used for investment based on people's understanding why bitcoin was not meant to be used as investment it was meant for the purpose of exchange of goods and services as a currency for other transaction important within the country and also across the countries