Spend your Bitcoin, don’t just hoard it

[Cryptmuster]

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.

The market itself will show how best to use an asset, if it's currently generating profit for investors, they'll hold it, and if I can't pay for things in stores or other services with Bitcoin, I'll pay with fiat, simply because it's more convenient.

Bitcoin has now become an investment tool, even the fact that countries are striving to create Bitcoin reserves suggests that Bitcoin is headed toward hoarding. The supply of Bitcoin on exchanges is constantly shrinking, and I think this will continue. Large companies will accumulate it like countries accumulate gold, I don't like this either, but I see it heading that way.

[coolcoinz]

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.

That's right. Hoarding is a pejorative term. For instance, we call people who gather and hold art "collectors" but we refer to those who collect junk and never throw anything out as "hoarders".
When you see a term hoarder used to define people who save money, you know the author of the article has a problem.

My question is, why would I join the culture of spending? This is what the media loves to enforce. Buy the latest gadget because you need it. Buy iphone 17 because your iphone 16 is outdated. We've added 0.1" of screen size!

I don't spend my bitcoin because I don't need anything. I still have fiat that I can throw away and cover all my bills.

[kotajikikox]

I do not think the rate of transactions in the bitcoin blockchain is in need of concern. I know that a lot of people are wanting bitcoin to circulate but actually what I believe makes bitcoin more valuable is the fact that it is scarce and people hold it so if you do not buy not, it will only keep on getting pricier. But this is not permanent. Some will sell. Some will buy.

[Youngrebel]

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.

You're right we can't all have thesame view of things and that involves Bitcoin too . there are different people with different investments plans based on what they feel is best for themselves when it comes to Bitcoin majority of the people are of the opinion that Bitcoin should be hodl for the long term. But there is always nothing bad with any one who has short term plan in view

[Japinat]

There’s no need to complicate things, you can always buy and hoard bitcoin, and sell it later on when the price becomes impressive. Bitcoin is not just meant to be spend or hoard alone, you can actually do both where you are most likely comfortable with.

Also, it depends on individual’s preferences. While others prioritize spending it, some just focus on hoarding it. But one thing is certain, you can’t benefit your bitcoin if you chose to hoard it forever, you need to sell or spend it so you can enjoy the benefits from hoarding bitcoin.

[EL MOHA]

You're right we can't all have thesame view of things and that involves Bitcoin too . there are different people with different investments plans based on what they feel is best for themselves when it comes to Bitcoin majority of the people are of the opinion that Bitcoin should be hodl for the long term. But there is always nothing bad with any one who has short term plan in view

The reason why they ask one to actually hoard bitcoin is simply to just maximize the price of bitcoin, within short term people see that there is no profit or probably less profit is gotten but it is not a standard that bitcoin must be hold for a very long time before the profit is taken, one can simply takes profits whenever they want as long as the profit target is hit. One wrong narrative that newbies pick is that it is not right to sell off bitcoin and I usually say selling bitcoin also help the network as the miners also get some bitcoin as transactions fee, if everyone is actually bend on holding then the network will just have very low transactions performed and that means less incentives for the miners which could discourage intending miners too

[davis196]

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.

Spending a valuable asset with an increasing price is against common sense and human logic. The article author wants every Bitcoiner to make a dumb move by spending his/her BTC for things he/she might not need in the future(or for things, that might deteriorate in value).
Adoption is killed by factors like regulatory uncertainty and the BTC blockchain not being able to handle billions of everyday transactions.
What if everyone suddenly starts spending his/her Bitcoins? The blockchain will get clogged with transactions and the fees and confirmation time will increase. What's the point? I don't see any benefit in doing such thing.

[reagansimms]

The sentence quoted in the topic makes perfect sense, spending Bitcoin or treating it like Fiat currency can increase Bitcoin adoption and usage even more significantly. In addition, transactions using Bitcoin can support merchants who accept payments using Bitcoin, individuals who spend Bitcoin can also make transactions quickly, easily and at low costs.
However, the decision to use Bitcoin for shopping or hoarding it for investment purposes depends on the individual needs and goals, so, I can understand the meaning of the title used on this topic, spending Bitcoin can help increase its liquidity.

[BitGoba]

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.

In economics, there is a principle called Greshams Law.Bad money drives out good money from circulation.his means that when two forms of money are in circulation in this case, Bitcoin, which has a hard monetary policy and whose inflation decreases every 4 years approaching zero, and fiat currencies from central banks, whose inflation constantly rises as new currencies is printed and existing currencies loses value people tend usually spend the bad money and hoard the good money. No one wants to spend good money whose purchasing power is increasing, while everyone wants to get rid of bad money whose purchasing power is falling.In this case, people hold Bitcoin while spending poor fiat currencies that quickly lose value due to inflation.

[FortuneFollower]

The sentence quoted in the topic makes perfect sense, spending Bitcoin or treating it like Fiat currency can increase Bitcoin adoption and usage even more significantly. In addition, transactions using Bitcoin can support merchants who accept payments using Bitcoin, individuals who spend Bitcoin can also make transactions quickly, easily and at low costs.
However, the decision to use Bitcoin for shopping or hoarding it for investment purposes depends on the individual needs and goals, so, I can understand the meaning of the title used on this topic, spending Bitcoin can help increase its liquidity.

Agreed. Many metrics and factors depends on where the person is, who is he, and what he envisions for BTC for himself - it can be a completely different story in each case, and the best we can do - we should toward the adoption overall.

[Marvell1]

I do not think the rate of transactions in the bitcoin blockchain is in need of concern.

It would not be a concern if we tend to use bitcoin as an investment, hoard it and only sell it when we reach our goals. But bitcoin's transaction speed would be a concern if everyone used it as a daily payment method. Think about it, if bitcoin were used as a payment method, there would be millions of transactions that would need to be processed, while the Bitcoin network only processes about 300,000 – 500,000 transactions/day. Then you will see that it will be a problem and a very worrying thing.

[Call_LSI]

If all the past whales spend their Bitcoin I wonder how things will look today, the best investment strategy is holding your Bitcoin, anyone that says other wise knows better than you and they are trying so hard to confuse you out of the possibility of getting rich in the future, it is your fault if it doesn't happen.

[Searing]

Sorry beg to differ...in btc since 2013....HODL'ing since 2015 when I stopped selling btc to get btc equipment and get more btc....(that kinda ended quickly)

I consider HODL'ing now like selling land outside of Las Vegas in the 1960's ...which seems silly in hindsight...that and the fact Blackrock wants my btc

in that is is easier to get it from individuals then it is to mine it these days...soooooo..er...nope....


Forgot:

Opps...I was wrong..spent 1 BTC from someone for equip/services and instead of going into the HOARD,  it was spent on a Kirby Vacuum Cleaner full setup...my exception to above

As I look at my $120K Kirby I got November 2017....so that is my ONLY and MAJOR exception....on the other hand..kinda cured me of spending btc and

solidified my HODL'ing after the fact Shudder...the HORROR....it is annoying to look at but all life lessons are.

[Ishicryptic]

If it is left for spending Bitcoin alone I don't think that it's adoption can increase rapidly to what is optainable now, most people that buys and holds Bitcoin is to make profit. I prefer to spend fiat, it is accepted anywhere in a country, besides many businesses don't accept Bitcoin yet, that is one of the key factors why holders don't have spending it in mind when they want to buy Bitcoin. Most of us cares about the privacy that comes with holding Bitcoin only where it concerns investment but for day to day spending we are more comfortable using traditional currencies. We need to give Bitcoin time before it can be accepted widely for daily spendings, for now it is good to hoard it so that scarcity will make the price to continue increasing.

[ANSEL_2.0]

Another one

Rich people and giant businesses are busy stacking Bitcoin, buying as much as possible to become their business and company backbone and someone is talking about spending Bitcoin as money, don't we have fiat for that? It is only those that have plenty of Btcoin that always feels like spending Bitcoin to be honest.

You will never see someone who want to be successful in the future spending their Bitcoin for any reasons, if they need something badly they are better off using fiat via their debit card, Bitcoin was never created to kill fiat, many people are so delusional about this and it disgust me.

Scarcity via supply and mining is what got us here, not people using their Bitcoin in Starbucks or on Amazon, there are so many nonsense that people are shilling online, it is left for everyone of us to choose wisely.

[hero_the_bossman]

If all the past whales spend their Bitcoin I wonder how things will look today, the best investment strategy is holding your Bitcoin, anyone that says other wise knows better than you and they are trying so hard to confuse you out of the possibility of getting rich in the future, it is your fault if it doesn't happen.

People say whatever, good and bad, and you can think of it as such - but using your BTC for services and so on isn't done to make you "lose" your BTC because you didn't hodl it through - it's to use it as it is intended.

[Outhue]

It depends on who you are and also the stage you are in your life, if your goal is to accumulate a lot of Bitcoin before another 10 years get here then you shouldn't be spending Bitcoin but if you are here as a winner already, you have some Bitcoin in your bag for long term, there might be room for spending.

I will advice everyone to be a winner first before enjoying some portion of their  Bitcoin before spending it, don't be a beginner and start spending BTC you will regret sooner than later, because every satoshis matters as value increases very fast and now that ETF and institutional investors are here, Bitcoin will only keep going up from here.

[FortuneFollower]

It depends on who you are and also the stage you are in your life, if your goal is to accumulate a lot of Bitcoin before another 10 years get here then you shouldn't be spending Bitcoin but if you are here as a winner already, you have some Bitcoin in your bag for long term, there might be room for spending.

I will advice everyone to be a winner first before enjoying some portion of their  Bitcoin before spending it, don't be a beginner and start spending BTC you will regret sooner than later, because every satoshis matters as value increases very fast and now that ETF and institutional investors are here, Bitcoin will only keep going up from here.

I would agree with this take.

There should be no selling because you think your BTC won't be pricing lower than it is now and such: no panic, no rush, only chill and confidence in BTC.

 

[LDL]

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.

Of course, there has to be a balance between income and expenses, especially if I spend the entire payment I was given, then I will not be able to hold any part of the Bitcoin in the future. However, like you, I keep a large portion of my weekly payment in Bitcoin and spend some of it to support my family. However, if you want to hold for the long term, you cannot hold the entire balance, but rather you need to keep some Bitcoins for spending, which is an important requirement.

[fikrett]

Of course, there has to be a balance between income and expenses, especially if I spend the entire payment I was given, then I will not be able to hold any part of the Bitcoin in the future. However, like you, I keep a large portion of my weekly payment in Bitcoin and spend some of it to support my family. However, if you want to hold for the long term, you cannot hold the entire balance, but rather you need to keep some Bitcoins for spending, which is an important requirement.

What do you mean by not holding your entire balance? You mean the case when you get BTCs for the most of your salary?