Spend your Bitcoin, don’t just hoard it

[Oshosondy]

It is just an opinion. I saw it on the news today.

https://cointelegraph.com/news/spend-your-bitcoin-don-t-just-hoard-it

Hoarding Bitcoin kills adoption. Real monetary revolution requires spending it like money, not treating it as digital gold to never touch.

I think everything will happen naturally. Trading bitcoin everyday by scalpers and day traders means spending bitcoin also. P2P transaction for using bitcoin to buy and sell is not only what that matters.

Liquidity is what that matters and bitcoin is highly liquid.

Bitcoin transactions volume is also high.

[aoluain]

Hmmm that article seems like a self serving one to benefit MoneyBadger.

HODL is a key strategy of literally everyone from single individual citizens with anything
from ~BTC0.001 upwards to various governments around the world. HODL has
been in existence since shortly after Bitcoin's creation and Bitcoin has not suffered
from anyone HODL'ing because not everyone HODL's every Bitcoin they have, I voted 'Both'

Cant compare Greshams law to Bitcoin really because it was a law made up
for FIAT. Michael Saylor would have something to say about that article!

HODL also includes moving, consolidation and transferring of Bitcoin and as you
say there will always be traders and gamblers so not every single Bitcoin should or will
be spent

[Alone055]

I don't know why it's usually done this way or why some people, news channels, article writers, or influencers try to show as if all the bitcoins are being held by everyone. I know that most people do buy and hold so that the value can increase and they can get profits from that, now even big firms and companies are doing it, but that doesn't mean there are no bitcoins in circulation. When you go to an exchange to buy bitcoin, do you not get any? Of course, you do; there are always people who are buying and selling. What else do we need?

Holding by people, entities, firms, even governments, should only become concerning when almost all of the bitcoins in circulation are bought and held, and when you try to buy some Bitcoin, you don't get any, because people are holding and aren't willing to sell, but even then, it's going to make Bitcoin more scarce, and hence, it's price will increase because if there are not many sellers but a lot of buyers, the demand increases, and so does its value.

[348Judah]

I also do expect that all of us cannot have the same decision at a time to have holders, as some are holding, we have those that are selling after they might have hold for long, we have also those that are buying, just as we have the whales and the little investors all contributing to the growth of the market, because as it serves an investment to some, others are seeing it as currency they can use for buying and selling, the traders are also there exchanging on the pairs with other currencies, the market has always been more volatile and ever in demand, despite it availability.

[notocactus]

I think everything will happen naturally. Trading bitcoin everyday by scalpers and day traders means spending bitcoin also. P2P transaction for using bitcoin to buy and sell is not only what that matters.

Liquidity is what that matters and bitcoin is highly liquid.

Bitcoin transactions volume is also high.

Transaction volume does not only come from trading or spending bitcoins. It can be from own bitcoin fund restructure like moving from a wallet to other wallets of a same owner.

I disagree with any suggestion like this as Bitcoin needs to be freely used by people. So they can do anything they like and see as best for themselves. The best can be investment for long term profit; trading or peculation for short term profit or anything else like shopping, gambling.

I see this advice is like forcing people to be more actively with bitcoin spending that result in bitcoin loss and smart people like institutional investors can take advantage of it for accumulating more bitcoin from your selling. Additionally, if you actually lost your bitcoin, it will be like your donation to other Bitcoin holders.

[Lida93]

I don't know why it's usually done this way or why some people, news channels, article writers, or influencers try to show as if all the bitcoins are being held by everyone. I know that most people do buy and hold so that the value can increase and they can get profits from that, now even big firms and companies are doing it, but that doesn't mean there are no bitcoins in circulation. When you go to an exchange to buy bitcoin, do you not get any? Of course, you do; there are always people who are buying and selling. What else do we need?

Probably whoever is behind the article wants the spending to go beyond what we have now. Honestly, I think the article is making a lot of sense, imo. Vast spending than what we have now can also help make bitcoin adoption grow more rapidly than how it's going with adoption. On assumption we have about 80% bitcoin maximalist that are in hodling position than spending it as a currency is being spent for goods and services. What can the strength of 20% responsible for bitcoin circulation do compared the situation to be a 50/50. Unfortunately, everyone including myself wants to hold for the profit than spending.

[cr1776]

When the article uses a phrase like "hoard" vs "save" or "invest" you know the spin they are going to put on it.  How about an objective article that compares the two instead of one that attempts to disparage saving or investing in bitcoin or anything else?  The author perhaps is jealous and envious.

It is just an opinion. I saw it on the news today.

https://cointelegraph.com/news/spend-your-bitcoin-don-t-just-hoard-it

Hoarding Bitcoin kills adoption. Real monetary revolution requires spending it like money, not treating it as digital gold to never touch.

I think everything will happen naturally. Trading bitcoin everyday by scalpers and day traders means spending bitcoin also. P2P transaction for using bitcoin to buy and sell is not only what that matters.

Liquidity is what that matters and bitcoin is highly liquid.

Bitcoin transactions volume is also high.

[Donneski]

Spending Bitcoin doesn’t mean you can’t still stack sats. For me, I use a small percentage of my holdings for daily payments whenever possible, while keeping the bulk as savings. That way I contribute to adoption without feeling like I’m giving away my long-term investment. A balance between hoarding and spending is probably the healthiest path forward in building real adoption and showing that Bitcoin can work both as money and as a store of value.

[SafuBTC]

I disagreed, hoarding Bitcoin can't kill Bitcoin, because right from the beginning Bitcoin should have died when there is not a lot of people buying to hold for long term, using Bitcoin as means of payment is not what keeps it alive, this is nothing but the users choice to make.

Maybe this similar article is what the Pizza guy read many years ago before using 10,000 BTC to buy pizza? Don't be the next pizza guy readers, this article is so misleading, this is one of the reasons why the internet is now a very scary place for beginners, there are too many fake points written online and if you digest them you will become a clown down the road.

Be careful what you read and believe online.

[Hewlet]

The decision to spend your bitcoin or not should be left entirely for an individual to make and should not be a decision that any blog should make for them. the value of fiat is almost becoming nothing, the regulatory issue with the fiat is still an issue and investors are now becoming more interested in the long term potential of bitcoin than it short term potential which is more reason why they will never consider selling using their bitcoin for regular transaction.

More adoption will lead to reasons why bitcoin can be spent for regular purpose. with regard that, we can still say that we have a long way to go and depending on how things goes, spending of ones bitcoin can be seen as a good thing but if the long term potential of bitcoin is still considered a big deal, no investor will be willing to just sell his coin like that.

[SquirrelJulietGarden]

Spending Bitcoin doesn’t mean you can’t still stack sats. For me, I use a small percentage of my holdings for daily payments whenever possible, while keeping the bulk as savings. That way I contribute to adoption without feeling like I’m giving away my long-term investment. A balance between hoarding and spending is probably the healthiest path forward in building real adoption and showing that Bitcoin can work both as money and as a store of value.

You can spend your liabilities but you should not spend your assets which you must hold them very carefully and tightly. If you know that there are many people, from experienced to new investors want to buy bitcoins from you and with demand and supply principle, with balance skews to demand in the future, price will rise more. This causes a big risk that if you spend your bitcoin, and later you want to buy bitcoin, you must pay higher cost for same amount of bitcoin.

Do you want to do this?
With me, I don't want to do this, and I would like to hold my coins, take advantage of more demand on bitcoin in the future, and see my portfolio value grows with time.

[Rruchi man]

~

I advocate that people should spend some of their bitcoins some of the time, like in emergency situation where their emergency funds cannot handle it all, but not all the bitcoins they have in their keep. Hoarding  all of your bitcoins when you are in a life threatening situation is stupidity to me because only the living can enjoy the returns on their investment, not a dead investor.

[Nothingtodo]

People will not always hold Bitcoin, but rather, people will sell their Bitcoin when necessary. People do not always have money in their hands, especially since people have endless needs and to meet these endless needs, they need endless money. If a person cannot earn the amount of money needed to meet this endless demand, then he needs to sell some of his saved Bitcoin. In this way, a person cannot only save Bitcoin, but he has to sell Bitcoin from that saved Bitcoin to meet his needs. In my case, I sell 75% of my Bitcoin and save the remaining 25% for future use or long-term holding. Instead of selling all my Bitcoin, I spend a large portion and then keep a small portion for the long term.

[Wiwo]

Asset is not just static, why bitcoin is call digital gold is because of it borderless movement features that assets like gold lacks, bitcoin is being spent daily and we can say that those that made that statement made such out of assumptions and trivialize thought lines.

The should have think deeper on the bitcoin usages before making such conclusions, the goal is not to spend your bitcoin less then then amount you bought it in the first place and not to spend it on worthless things but converting it into another assets that could generate money to buy more bitcoin in the future.

With bitcoin market capitalization and supplies, daily trading volumes on both cex an dex with p2p, you know that bitcoin is indeed engaging as a currency that exchanges within hands.

[Zoomic]

It is just an opinion. I saw it on the news today.

https://cointelegraph.com/news/spend-your-bitcoin-don-t-just-hoard-it

Hoarding Bitcoin kills adoption. Real monetary revolution requires spending it like money, not treating it as digital gold to never touch.

I think everything will happen naturally. Trading bitcoin everyday by scalpers and day traders means spending bitcoin also. P2P transaction for using bitcoin to buy and sell is not only what that matters.

Liquidity is what that matters and bitcoin is highly liquid.

Bitcoin transactions volume is also high.

We are actually done with the myth of bitcoin being a currency. Although it is the initial arrangement and plan of Satoshi Nakamato for bitcoin to be a currency, but right now bitcoin has chosen its path. It is now an asset and majority have been seen bitcoin as that.
Recently, US adopting bitcoin as a strategic reserve instead of a legal tender supports my point.

[r_victory]

I do spend some, but the best thing to do these days is to save it, because of its potential appreciation. I never tire of saying that what I'd most like to happen is to be able to spend Bitcoin without feeling guilty, which is impossible today. I don't use it directly; I need to convert it to make the payments I need. It would be nice to be able to pay directly with Bitcoin, but the services available where I live are somewhat impractical, in my opinion.

[henry_of_skalitz]

I too mostly hodl it and use it once my target is reached, and when needed - I can change a bit of my BTC for fiat.

Before that - sure, it can be used for services and much more, but I don't go that route quite often.

[freedomgo]

Not because we hoard doesn’t mean we don’t spend as well. it’s just that, let’s put it this way, we invest more than we spend. in the end that benefits us as investors, and at the same time we also contribute to adoption.

The reason Bitcoin has reached this level already is because of adoption. if people were only buying and nobody was spending, it wouldn’t have gone this high. and we’re not in the early stage anymore, so that alone proves it’s no longer just speculation pushing the price, but real demand.

[Ojinga]

I agree with you senior because everything is already happening, traders are trading, holders are holding, miners are mining and the the system is just moving.
We can not decide how people would want to use their bitcoin, but what really matters is if they’re making profit.
Most times holders talk down on traders and traders also talk down on holders but the truth is that, what truly matters in the cryptocurrency industry is that we should be making profits regardless of the approach we choose to implement.

People can still be holding and spending and someone can still be spending while holding,  and just as I said previously, what matters is that we stay profitable at the end of the day.

[bhadz]

We've done our part and we've spent many of our bitcoins either with online purchases or online gambling. We've contributed enough and I guess this is for us who have got still a few left remaining and it's not of their business if we want to keep it. Because that's the plan of the most now, we have to HODL so that we've got some good future that awaits us. Let everyone enjoy the holdings that they have, big or small amounts. We'd spend it whenever we want to and that's why if there are people who are pushing us to spend it, ask them first or the author of it if he's done enough to the ecosystem.