Spend your Bitcoin, don’t just hoard it

[EL MOHA]

It is not as if people are not willing to spend bitcoin, but one of the reasons why people are not spending bitcoin the way it is supposed to be spent is because of the issue of regulation.

Bitcoin still has restrictions in most places, and people just believe it is best for holding due to the value it has. The spending of bitcoin will increase significantly when restrictions have become very low. This is why people will always trade their bitcoin on exchanges for fiat, and it is not as if they are not willing to spend bitcoin directly to purchase whatever they want, but restrictions are the reason why bitcoin users spend more fiat.

In as much as I would agree a little with your point I think this is definitely not a general issue concerning the use of bitcoin yes there are countries where there is restrictions of the use of bitcoin and this actually forced the country’s citizens into hoarding the coin for a very long time but does this applies to the general rule I don’t think so, there countries today that have less restrictions to the use of bitcoin and yet people there still prefers to board bitcoin.

Personally I think the reason why bitcoin is still very much preferred to be hold is simply because of its advantages, many see bitcoin as the digital gold with characteristics and a greater ROI in future much better than it and now looks much early and that’s why they are hoarding as much as they can. But this doesn’t still mean that they don’t use it for trade

[Zoomic]

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.

Creating a balance is the solution to the issue raised by op. Creating a good balance actually solves many problems in life and not only in bitcoin. It is just like someone who doesn't know about about bitcoin that operates only with fiat. They don't need to spend all their fiat and neither do they need to save all. So creating a balance is the good thing to do.

Besides, there are hodlers, there are scrappers, there are day traders and more. So, as hodlers are holding strong, day traders are flipping their BTC on a daily basis. So, the system itself has created a balance.

[JiiBs]

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.

A take from this though, treating gold still retains a decent value and is adopted by everyone whom is able or see it for a good enough asset all over the world.
So, hoarding wouldn’t stop adoption, adoption would come when a lot of persons believe in the innovation and with governments of several nations now having to develop strategies towards Bitcoin reserves, it should be an indication that adoption is coming the more closer.

[Cryptomultiplier]

It is not as if people are not willing to spend bitcoin, but one of the reasons why people are not spending bitcoin the way it is supposed to be spent is because of the issue of regulation.

Bitcoin still has restrictions in most places, and people just believe it is best for holding due to the value it has. The spending of bitcoin will increase significantly when restrictions have become very low. This is why people will always trade their bitcoin on exchanges for fiat, and it is not as if they are not willing to spend bitcoin directly to purchase whatever they want, but restrictions are the reason why bitcoin users spend more fiat.

In as much as I would agree a little with your point I think this is definitely not a general issue concerning the use of bitcoin yes there are countries where there is restrictions of the use of bitcoin and this actually forced the country’s citizens into hoarding the coin for a very long time but does this applies to the general rule I don’t think so, there countries today that have less restrictions to the use of bitcoin and yet people there still prefers to board bitcoin.

Personally I think the reason why bitcoin is still very much preferred to be hold is simply because of its advantages, many see bitcoin as the digital gold with characteristics and a greater ROI in future much better than it and now looks much early and that’s why they are hoarding as much as they can. But this doesn’t still mean that they don’t use it for trade

Whatever be the use case for Bitcoin currently, I think the best bet depends on the country or region of abode as rightly said and concerns for the laws and regulations surrounding crypto currency.
If one were to live in an environment where more businesses and individuals openly use Bitcoin to transact, then I doubt there would be more hoarders as compared to more spenders.

It is as simple as that and for now irrespective of the country I reside in, I would rather hoard my BTC and spend altcoins than spend my BTC and hoard altcoins or nothing at all.

[ColdLava40]

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

This phrase is really wrong. I don't see how holding kills adoption in any way. The writers idea proposes that spending is much better but he's own view can not be conclusive for everybody.

Bitcoin can be any thing it wants to be for anyone. I can decide to save my btc and you can decide to use yours for your business. What matters is there is still circulation even if majority holds their coins.

[2Pizza410000BTC]

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 fact, I voted in the voting Both. One of the reasons why I spend and deposit Bitcoin is that my Bitcoin forum is my only main source of income. Moreover, I have a small offline income. My family cannot manage on that income, which is why I have to depend a lot on Bitcoin. I am constantly investing some of my income in Bitcoin and the rest I have to spend on my family and myself. If I had a good source of income, I would have kept my Bitcoin completely. I would never have sold it, but I am trying to arrange a good income. I hope it will be possible very soon. If possible, of course, I will continue to increase my Bitcoin investment.

[tread93]

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

I can honestly say that right now all the bitcoin ive ever spend or traded was a bad mistake and it would have been wiser to HODL onto it. Luckily for me I only have spent tiny amounts so it didnt have much of an effect for me

[NewRanger]

In fact, I voted in the voting Both. One of the reasons why I spend and deposit Bitcoin is that my Bitcoin forum is my only main source of income. Moreover, I have a small offline income. My family cannot manage on that income, which is why I have to depend a lot on Bitcoin. I am constantly investing some of my income in Bitcoin and the rest I have to spend on my family and myself. If I had a good source of income, I would have kept my Bitcoin completely. I would never have sold it, but I am trying to arrange a good income. I hope it will be possible very soon. If possible, of course, I will continue to increase my Bitcoin investment.

Good concept and of course, the combination of HODL and occasional use is the most realistic. But if I have a buffer of other reserves, I'll temporarily postpone it, not because it's unnecessary, but because it's more about the moment.

Looking at BTC's development and reading various online media outlets, it seems like this is also the time to hold on, even though volatility is unavoidable. It's good for you and others to be familiar with the process of how prices develop. Strong hands are the ones who are able and successful in reaching a certain desired point, although there's no limit to the duration if you want to hold on longer.

[ABCbits]

Some say “just wait,” and that adoption will happen naturally when Bitcoin holders become wealthy enough. If nobody spends Bitcoin today, however, it will not develop into generally accepted money tomorrow.

It will remain “just” an investment vehicle, and regulators will continue to restrict its use as currency. “Just wait” also means hoarding Bitcoin while fearing short-term price drops, which makes you short Bitcoin today.

His argument is better than expected since it's shared on cointelegraph, especially part i quoted. Some Bitcoin owner these days seem to forget Bitcoin in early days become popular because people use it as money/payment method or at least benefit with the fact Bitcoin can't be censored/frozen.

[Rustam Meraj]

Creating a balance is the solution to the issue raised by op. Creating a good balance actually solves many problems in life and not only in bitcoin. It is just like someone who doesn't know about about bitcoin that operates only with fiat. They don't need to spend all their fiat and neither do they need to save all. So creating a balance is the good thing to do.

Besides, there are hodlers, there are scrappers, there are day traders and more. So, as hodlers are holding strong, day traders are flipping their BTC on a daily basis. So, the system itself has created a balance.

You are quite right in saying that secret of problem solving in finance and in life is to strike balance. Bitcoin system like individuals do not use all their money or save all their money has its own stabilizers like Hodlers stabilize price in long term and Day Traders need to buy and sell to make market healthy and active. So this is natural combination of long term stability and short term action that makes decentralized Bitcoin system so effective.

[₿itcoin]

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.

But I think it is a bit silly. Yeah spending BTC can increase acceptance like- stores accept it, people see it as money, true. However hoarding is also valid, dude.. You know Bitcoin is a store of value in a world where fiat depreciates every day.

Other thing id Liquidity means how easily you can convert it into somethin  else. Just because Bitcoin is liquid doesnt mean you should spend all of it, LoL.. it's just insane. Better you could use two wallets-- one Cold wallet for longterm HODL, the other Hot wallet for small spending if you  want.

So yeah, spending can definitely help the Bitcoin ecosystem, but you can never force me to spend. keep in mind HODLers always protect the real value...

[mirakal]

Whether holding or using bitcoin is a personal choice. Many people advise holding Bitcoin because they believe the price will continue to increase, allowing them to make a profit. But only a few people follow. It means that no matter how we say to hold or use their Bitcoin, it doesn't matter because people will do what they believe is right and it could benefit them.

Besides, why dictate others' lives when they are in a good state of mind? I think we have to accept the reality that Bitcoin stays alive because of what we do now. And I see nothing wrong with it.

[ghan7300]

Living healthy and unique lifestyle is necessary , rather than being in poor state
So the order of selling and holding is important...
In short :"Where there’s risk, there’s love..."
In Hindi "RISK HAI TO ISHQ HAI"

[BIT-BENDER]

Some people will ask how will they spend their Bitcoin when they are in Bitcoin just because of the investment benefits, well I don't have anything against you if you only see Bitcoin as an investment plan because that's solely your business but I can tell you that you can dedicate that money you set aside for your own spend to Bitcoin. Convert those Fiat to Bitcoin and spend it to improve adoption.

[Cookdata]

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.

How many people want to spend their Bitcoin? The value is tempting that nobody want spend them. More over, there is layer where people open and close channel to spend Bitcoin daily and settle everything on the main layer. Liquidity, I don't think that matters until we have big players that are stacking up Bitcoin right now, as it's now everything looks cool but if strategies want to sell, it's going to raise a concern in the future, maybe not now but one day.

Within 4 days of October, Bitcoin has also climbed by 10% and then comes down again, I'm not sure but such growth isn tempting Dr people that want to sell their Bitcoin or use it to buy something when in fact they can use their fiat to get what they want to get. Some people are in a mission to get a full Bitcoin doing DCA on the way they way they are free, I don't think we are going to expect such people to sell or spend their Bitcoin, don't forget there is tax to be paid.

[Jaycoinz]

Some people will ask how will they spend their Bitcoin when they are in Bitcoin just because of the investment benefits, well I don't have anything against you if you only see Bitcoin as an investment plan because that's solely your business but I can tell you that you can dedicate that money you set aside for your own spend to Bitcoin. Convert those Fiat to Bitcoin and spend it to improve adoption.

The end result is all this is that even those who set their goal for saving their Bitcoin will eventually get to sell and use it someday or maybe pass it to their young ones or family. Bitcoin being able to generate lots of profit in the aspect of hoarding and saving it has made lots of bitcoiner choose that route and beside it's better knowing you have money somewhere that's completely safe but yet still generating you income in time coming. Although in the thought of spending everybody will eventually use or spend it someday just maybe now isn't the right time.

[Scarlett_23]

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.

I also agree with you that not everyone will use Bitcoin in the same way and for the same purpose. Although everyone's purpose is different, everyone's main goal is the same. The Bitcoin market is still strong today because of the diversity of Bitcoin usage. I can't blame only the holders for the traders and the traders for the holders.

The market is active for the traders and at the end of the day, everyone is interested in seeing how the Bitcoin market is. Because of the traders, anyone can sell Bitcoin if they want and buy if they want.

Again, the holders hold Bitcoin, due to which the market is stable and the supply is controlled.

[stadus]

I prefer to hold it now and spend it in the future, maybe this makes sense to me and for every hodlers out there. I believe the realization that bitcoin should be spend not hoard, of course it should be our ultimate goal in the long run. But hey, how would you spend some bitcoin when you haven’t any amount to spend, so most likely you have buy and hoard it at first and when the price doubles or triples, that’s the perfect time to spend it and enjoy the profits.

No one’s stopping us to spend bitcoin, but it wouldn’t make sense if you just buy and spend your bitcoin immediately. It’s like you are gambling and eventually lose your capital without even benefiting some profits.

[dzungmobile]

I prefer to hold it now and spend it in the future, maybe this makes sense to me and for every hodlers out there. I believe the realization that bitcoin should be spend not hoard, of course it should be our ultimate goal in the long run. But hey, how would you spend some bitcoin when you haven’t any amount to spend, so most likely you have buy and hoard it at first and when the price doubles or triples, that’s the perfect time to spend it and enjoy the profits.

No one’s stopping us to spend bitcoin, but it wouldn’t make sense if you just buy and spend your bitcoin immediately. It’s like you are gambling and eventually lose your capital without even benefiting some profits.

All Bitcoin users must know importance of private keys that are only possible to own with non custodial wallets, they will choose non custodial wallets as their storage wallets. Must use open source wallets rather than close source wallets for avoiding shady unknown codes and backdoors from close source wallet softwares.

Invest money in bitcoin, hold your coins very long time is excellent way to get profit easily. The Bitcoin HODL Camp shows this as well as the Bitcoin profitable days chart shows this fact.
https://hodl.camp/
https://www.bitcoinmagazinepro.com/charts/bitcoin-profitable-days/

For withdrawal strategy, I recommend this strategy from JJG and the tool programmed by bitmover.
[ANN] JJG Sustainable Bitcoin Withdrawal Strategy
https://bitcoindata.science/withdrawal-strategy

[DaNNy001]

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?

I cannot buy or hold Bitcoin in any other way, meaning the amount I receive in BTC weekly through the signature campaign is mentioned here as part of the payment.
That is, I hold eighty percent of the Bitcoin I receive as a weekly payment in my wallet as Bitcoin, and I keep the remaining twenty percent as family expenses so that I can spend it when absolutely necessary.

I think that's definitely a balance way of looking at the whole set up, with that kind of set up you are a holder and also practicing the act of spending some BTC too so that you get affected and also building up wealth in the future. But its all that easy for some persons as not everyone do get paid in BTC and of the case be that you are paid in fiat then DCA with a little portion of your earnings consistently is also a good way although it still depends on how you get to follow up with the whole thing because if not properly set up you might just end up using from same portfolio you have been saving your Bitcoin.