Your Bitcoin income from signature campaign or other bitcoin related services

[crwth]

As much as we want the wealth or value to stay in the ecosystem to help the price of BTC increase, it really depends on a per-person basis. What is important for him/her is value. IF they can be spent and just stay on BTC or not. I think the best question is whether the governments would have a different kind of category and actually use BTC as the currency.

With the lightning network being used, it can be a fast and low-fee BTC payment method with all the microtransactions that we face every day.
^{(After that, we need to figure out the tax implications on this  )}

[bitgolden]

Spending bitcoin is tough, we do not have that much places to spend it, so I do not think that is a good idea. Plus, we have not been "currency" for a long time, and we should not be really considering that.

I think, we need to just make sure that bitcoin is used, doesn't matter for what. If you want to use it, by buying it and long term holding it, that still means you are in bitcoin world, if you want to use it by trading it daily, you are still using it. As long as we give people a reason to get some bitcoin, then it's all fine.

[robelneo]

Your Bitcoin income from signature campaign or other bitcoin related services should be channeled into Bitcoin economy
 

Bitcoin is legal in our country, but putting it on the local marketplace is very limited. I want to buy tangible items using Bitcoin here in our country, but you can hardly find any, and on global merchants, I can only buy digital items.
Bitcoin is widely adopted, but there are countries where it is legal, but limited on where to use your Bitcoin; you will end up trading it for fiat to buy what you need.
I'm hoping the scenario will be different in the coming years.

[Oasisman]

should be channeled into Bitcoin economy

Oh! Is that necessary? I mean, what most people normally find is convenience. Especially to places that don't widely embrace Bitcoin just yet, like in small provinces. I guess promoting Bitcoin should be enough to contribute to the crypto economy, you don't necessarily need to spend every transaction in Bitcoin just to show your support, and that is why exchanges exist to bridge the inconvenience. Exchanging your Bitcoin to fiat and vice versa is one way to contribute to the crypto economy, it's not just Bitcoin-to-Bitcoin transactions. After all, Bitcoin needs liquidity.

Also, you don't need to worry about governments, because they don't have any control over your assets. You can easily by-pass crypto transactions even if it their ban from your region. Even if they impose strict regulations, high taxes, etc.

[Free Market Capitalist]

should be channeled into Bitcoin economy

Oh! Is that necessary? I mean, what most people normally find is convenience. Especially to places that don't widely embrace Bitcoin just yet, like in small provinces. I guess promoting Bitcoin should be enough to contribute to the crypto economy, you don't necessarily need to spend every transaction in Bitcoin just to show your support, and that is why exchanges exist to bridge the inconvenience. Exchanging your Bitcoin to fiat and vice versa is one way to contribute to the crypto economy, it's not just Bitcoin-to-Bitcoin transactions. After all, Bitcoin needs liquidity.

The OP seems unaware that the world doesn't work that way—putting forward an idea on a forum and telling everyone to follow it. Bitcoin is hardly used as a medium of exchange these days, as evidenced by the low transaction fees. Nor do I see many more places to spend my Bitcoin directly than I did 5 years ago, for example. What we do see is that it's much easier to convert Bitcoin to fiat, and there's much more centralization.

The problem is that Bitcoin has shifted from its original concept as a medium of exchange—P2P cash—to that of “digital gold,” a term that has gained popularity in recent years, meaning it’s more of a store of value. However, it doesn’t seem to be performing very well as a store of value lately. We’ll see what the future holds.

[WatChe]

The OP seems unaware that the world doesn't work that way—putting forward an idea on a forum and telling everyone to follow it. Bitcoin is hardly used as a medium of exchange these days, as evidenced by the low transaction fees. Nor do I see many more places to spend my Bitcoin directly than I did 5 years ago, for example. What we do see is that it's much easier to convert Bitcoin to fiat, and there's much more centralization.

The problem is that Bitcoin has shifted from its original concept as a medium of exchange—P2P cash—to that of “digital gold,” a term that has gained popularity in recent years, meaning it’s more of a store of value. However, it doesn’t seem to be performing very well as a store of value lately. We’ll see what the future holds.

There are many countries where Bitcoin is either illegal or their are strict regulations for its usage. Due to this reason people of such areas have no other option but to invest in Bitcoin for long term. Also Bitcoin over the years has proved that its price grows with passage of time and this is also a reason why people are hodling bitcoin. The current dip in price of Bitcoin will be over soon as we have seen in the past that Bitcoin has the ability to go up in price after every decline in its price.

[Somegory]

Can I buy an apple using Bitcoin? Can I buy some oranges and fruits in general using Bitcoin? Can I buy frozen chicken to cook soup using Bitcoin? Small items like this can't be settled with Bitcoin because such merchants have no reason to accept payment in Bitcoin.

You should leave everyone and let them do what they want with their Bitcoin, some people will spend it that's certain and some will prefer to hold it, you can't tell them what to do with their Bitcoin.

Even if Bitcoin is widely acceptable as payment solution, it's stupid to use Bitcoin to pay for some items in my country, the amount is too small that it makes no sense using transaction fee on them.

[pawanjain]

That is a good thought but practically speaking, it's not achievable at a mass scale because not all countries have vendors who provide services for bitcoin.
So even if a person wants to spend their bitcoin on some services, it's not directly doable.
We will have to rely on P2P methods which is risky and find someone who can help us get that service in fiat while we pay that person in bitcoin.

[Gozie51]

This is one of the most safest ways to navigate the system without worrying too much about present or future consequence from governments.  You earned the bitcoins in bitcoin economy, and the seller doesn't need to put up "Bitcoin accepted here" sign physically

The issue here is on regulation from different countries regarding bitcoin. Hodlers of bitcoin has no choice than to use their bitcoin in the way it will be safe for their freedom because if government has a ban on it, you can't do otherwise. Moreover, there won't be vendors on bitcoin or what you can buy and exchange bitcoin for in such country where it is banned.

But I don't see what it matters if you convert your bitcoin to fiat or local currency at some point whether you are earning bitcoin from signature campaign because at some point too, you reconvert your fiat or Usdt back to btc.