Spend your bitcoins, and you still get paid in Bitcoin

[SPIDERMAN008]

Those who are holding bitcoin for investment purposes also want to buy any kind of product by transacting through bitcoin. Because no one invests in bitcoin just for holding. They will definitely use that bitcoin in future . Maybe at that time their amount will be very large, with which they will buy any asset according to their needs or use some bitcoin from that bitcoin holding regularly. In order to use this opportunity properly for managing the rest of their lives, it is necessary to have universal use of bitcoin and the opportunity to transact through bitcoin in all sections.

Now bitcoin is in the early stage. Even then, the acceptance of bitcoin has increased a lot. Now with time, the section of bitcoin transactions will increase further. Many big shops or companies will create the opportunity to transact through bitcoin. Then maybe people will be able to continue transacting through bitcoin very naturally.

[BlackBoss_]

Those who are holding bitcoin for investment purposes also want to buy any kind of product by transacting through bitcoin. Because no one invests in bitcoin just for holding. They will definitely use that bitcoin in future . Maybe at that time their amount will be very large, with which they will buy any asset according to their needs or use some bitcoin from that bitcoin holding regularly. In order to use this opportunity properly for managing the rest of their lives, it is necessary to have universal use of bitcoin and the opportunity to transact through bitcoin in all sections.

I have bitcoin and I would like to use my bitcoin for payment of services I use or products I buy because it is more convenientfor me especially if transaction fee is not too expensive at that time. This payment method directly with my bitcoin can help me to gain better privacy but I am not sure how law is in other nations and how people in countries with strict laws on Bitcoinand tax will handle it.

Will it be tax invasion if you spend your bitcoin directly for service/product with any capital gain tax?

[Nothingtodo]

People will spend Bitcoin if some products are designed that can be bought and sold through Bitcoin. Or Bitcoin will be accepted as a payment system. Banks will accept Bitcoin as a means of transaction. Currently, some banks in the world are not accepting Bitcoin for transactions but as collateral for loans. However, the day when banks accept Bitcoin as collateral for loans as well as for transactions, Bitcoin will be used as a currency for people to spend in the world. That is, people are now only saving Bitcoin as a store of value but not spending it. This only increases the popularity of Bitcoin but the value does not increase in that way. If Bitcoin is used as a means of spending and transaction of goods, then of course its popularity will also increase greatly in value.

[Peanutswar]

Most people choose Bitcoin as a Store of Value than a Medium of Exchange in order to grow their Bitcoin investment, to afford to buy more things and be inflation proof. Ofcourse, these are the main reasons they choose to use Bitcoin as Store of Value rather than spending them.  How do we convince them to also spend or use it as MoE?
There are several ways to do that but let's focus on one for now:  selling products/services for bitcoins.  If you earn bitcoins in this manner, unlike those who have to convert from fiat or have no other source of income, why don't you spend them aswell, since you'll keeping earning more?

Well you can't push other people to spent their bitcoin because everyone of us here is it's a must to know what they are doing with their tokens, now if you see bitcoin only for a long term basis and does not have a plan to use right now it's up to you, if you see bitcoin for transaction efficiency it's up to you, if you see bitcoin for spending with different project, staking and trades it's up to you.. people have different perspective with their coins.

If you wanted to have a bitcoin adaptation most of the companies and business is mind that they must need to adapt first the use of the crypto payment for their goods and services.

[Tongley]

People will spend Bitcoin if some products are designed that can be bought and sold through Bitcoin. Or Bitcoin will be accepted as a payment system. Banks will accept Bitcoin as a means of transaction. Currently, some banks in the world are not accepting Bitcoin for transactions but as collateral for loans. However, the day when banks accept Bitcoin as collateral for loans as well as for transactions, Bitcoin will be used as a currency for people to spend in the world. That is, people are now only saving Bitcoin as a store of value but not spending it. This only increases the popularity of Bitcoin but the value does not increase in that way. If Bitcoin is used as a means of spending and transaction of goods, then of course its popularity will also increase greatly in value.

No one would be willing to make such a foolish decision right now. Because every investor and every person knows what the price of Bitcoin can be in the future and how much Bitcoin can make us in the future if we hold Bitcoin now. Despite this advantage, no one would ever be willing to trade with Bitcoin, especially not me.

Another thing is the volatility of Bitcoin. Due to the volatility of Bitcoin, it seems impossible to trade with Bitcoin. Suppose you buy a product right now and the price of your product is 40$ equivalent in Bitcoin and after some time if the price of Bitcoin decreases a lot, then you will have to pay much more Bitcoin at that time. So for this reason, it seems impossible to trade with Bitcoin right now.

[Supreme Donvic]

People will spend Bitcoin if some products are designed that can be bought and sold through Bitcoin. Or Bitcoin will be accepted as a payment system. Banks will accept Bitcoin as a means of transaction. Currently, some banks in the world are not accepting Bitcoin for transactions but as collateral for loans. However, the day when banks accept Bitcoin as collateral for loans as well as for transactions, Bitcoin will be used as a currency for people to spend in the world. That is, people are now only saving Bitcoin as a store of value but not spending it. This only increases the popularity of Bitcoin but the value does not increase in that way. If Bitcoin is used as a means of spending and transaction of goods, then of course its popularity will also increase greatly in value.

No one would be willing to make such a foolish decision right now. Because every investor and every person knows what the price of Bitcoin can be in the future and how much Bitcoin can make us in the future if we hold Bitcoin now. Despite this advantage, no one would ever be willing to trade with Bitcoin, especially not me.

Another thing is the volatility of Bitcoin. Due to the volatility of Bitcoin, it seems impossible to trade with Bitcoin. Suppose you buy a product right now and the price of your product is 40$ equivalent in Bitcoin and after some time if the price of Bitcoin decreases a lot, then you will have to pay much more Bitcoin at that time. So for this reason, it seems impossible to trade with Bitcoin right now.

Trading with Bitcoin is by choice, there are people who have enough Bitcoin and if they decide to be trading with it, it is not foolishness because they have it enough, it is only those who don't have it enough that will think it is foolishness to trade with bitcoin, yes the feature of Bitcoin will be good but it is not certain, anything can happen.

Don't always think about the negative side, think about the positive side also, if you are purchasing something in Bitcoin in a supermarket the price of Bitcoin can increase also the same way it's can reduce.

[SilverCryptoBullet]

Trading with Bitcoin is by choice, there are people who have enough Bitcoin and if they decide to be trading with it, it is not foolishness because they have it enough, it is only those who don't have it enough that will think it is foolishness to trade with bitcoin, yes the feature of Bitcoin will be good but it is not certain, anything can happen.

Trading with your bitcoin is different than spending your bitcoin.

Trading your bitcoin can cause profit or loss but basically it's not spending and you won't likely lose all your bitcoin with one trading position. With spending, at the time you broadcast your Bitcoin transaction, your bitcoin gone (of course it needs to get a first confirmation from Bitcoin miners).

You misunderstood between trading and spending.

[Mrbluntzy]

This statement here is the reason why most people don't really like the idea of using there Bitcoin to make a purchase of any kind, especially those that have been in Bitcoin investment for long (6 year or more), they are always thinking about what the future holds for Bitcoin, spending a fraction is like reducing potential profit, but in the end using Bitcoin as a medium of exchange or creating an avenue where it's possible, e.g starting a business of any kind were you accept Bitcoin as payment method, is essential for its growth and global adoption process.

To spend Bitcoin, you must not spend from from your cold storage, assuming you have been holding Bitcoin for the past 6 years like you said, and you wants to spend some Bitcoin is purchasing a thing, you don't have to spend from your cold wallet that has been holding you Bitcoin for the past 6 years but instead you can use fiat to buy a fresh Bitcoin and use it to purchase what every you want, is as simple as that. You can be holding Bitcoin for future profit and still buy fresh Bitcoin to spend on daily purchase.

[laspol65]

And ofcourse, we know there are people who really want to spend their bitcoins but no reliable marketplace and fast payment system exist that they can do so easily  This is what we should be seriously working on otherwise we shouldn't blame them too much for not soending

You can't force anything on anyone, Bitcoin is free, so people can use it as they see fit. Some people hold Bitcoin to protect themselves from fiat inflation, and many people use Bitcoin to save money, that is, to save time and money. And many people use Bitcoin for their daily purchases,
so they will use Bitcoin according to their price plan and keep it for the future. But this is the only way that I think is the most important thing, people can benefit from it in many ways.

[bitbollo]

...
How do we convince them to also spend or use it as MoE?
...

Historically, once there was really the need of a coin for certain kind of markets/products, this was one of the best reason to use bitcoin and to exchange.
Accessing certain market was impossible if you was not using bitcoin. Even if this is an extreme way (probably unlegal in most of countries) could be seen as a reason for convince people to adopt and spend bitcoin.
After all these years, unless some nerd app/bank account with ETF, we have seen 0 appeal for the masses, included a mostly useless "real world adoption".
But this is also related a real need: who need to accept bitcoin if nobody want to spend or just few people have this need?
I would not be surprised if we will continue to use bitcoin as "the money of internet" meanwhile using different currencies/services to pay in the real life.

[Z-tight]

Will it be tax invasion if you spend your bitcoin directly for service/product with any capital gain tax?

Take note that tax laws are peculiar to the jurisdiction in question. However, if you spend BTC in a region where BTC is taxed, that action would be treated as you sold the coins, so you'd still be subjected to Capital gains tax.

This payment method directly with my bitcoin can help me to gain better privacy but I am not sure how law is in other nations and how people in countries with strict laws on Bitcoinand tax will handle it.

I am not sure why you think spending BTC offers you better privacy, it really depends on if you know what you are doing. It could even put a trail on your back if you spend BTC from your cold wallet, with a large balance. As far as laws in other countries go, as long as BTC isn't banned, then you can spend it through merchants that accept the coin.

[uneng]

If you earn bitcoins in this manner, unlike those who have to convert from fiat or have no other source of income, why don't you spend them aswell, since you'll keeping earning more?

Because there isn't where to acquire goods and hire services through Bitcoin currency in daily life. Bitcoin as payment method is still to niched to determined segments of the market, which don't include daily and essential services. For an example, I can't use the BTC I earn to pay for electricity and water bills, neither to buy food at the supermarket.

To exchange BTC into fiat currency is still a must, and I'm not really sure if it's going to change someday. Bitcoin has been perfect as investment, but not applicable as daily currency.

[lionheart78]

To encourage spending, we need to introduce more ways to earn and also inform already earners to spend part of what they earn. They should have no problem spending bitcoins since they will be earning more. And if spenders are prudent or smart enough, they would be spending their bitcoins on things they can sell for more bitcoins, or things that help them produce more things they can sell for bitcoins.

I can think of nothing else here except to buy and sell Bitcoin.  Meaning trade Bitcoin and do buy low and sell high. 

It would be hard if we are talking about earning more Bitcoin while we are spending Bitcoin, except we put it in a business where we buy raw materials in Bitcoin, and sell the finish products in Bitcoin.

Spending it for necessities won't earn us more Bitcoin even if there is a percentage commission in our expenses.  The outgoing Bitcoin will always outweigh the incoming Bitcoin in this trade design so there is no profit to be seen here.

[hd49728]

I can think of nothing else here except to buy and sell Bitcoin.  Meaning trade Bitcoin and do buy low and sell high. 

Is it safe to trade?
Most people trade because they think that they can easily get profit by "Buy low and sell high" but their actual tradings are different like "buy high, sell low" then rather than getting profit, they have loss. Most traders in markets get losses, not profit and it's the same fact in Bitcoin market.

It would be hard if we are talking about earning more Bitcoin while we are spending Bitcoin, except we put it in a business where we buy raw materials in Bitcoin, and sell the finish products in Bitcoin.

Spending is not to earn more, spending is using your money or bitcoin to buy something at least you need. Even it is not a too vital thing, or necessary thing for you, at least you feel like you need it at that moment and decide to use your bitcoin, spend it for getting that thing.

Spending is not earning, you confuse me.

[Sunshine1525]

I can think of nothing else here except to buy and sell Bitcoin.  Meaning trade Bitcoin and do buy low and sell high. 

Is it safe to trade?
Most people trade because they think that they can easily get profit by "Buy low and sell high" but their actual tradings are different like "buy high, sell low" then rather than getting profit, they have loss. Most traders in markets get losses, not profit and it's the same fact in Bitcoin market.

It would be hard if we are talking about earning more Bitcoin while we are spending Bitcoin, except we put it in a business where we buy raw materials in Bitcoin, and sell the finish products in Bitcoin.

Spending is not to earn more, spending is using your money or bitcoin to buy something at least you need. Even it is not a too vital thing, or necessary thing for you, at least you feel like you need it at that moment and decide to use your bitcoin, spend it for getting that thing.

Spending is not earning, you confuse me.

Trading is easier said on paper "buy low sell high" but when put to practice they end up understanding it's a more riskier way of earning more money with Bitcoin, volatility is their biggest threat it makes them panic and end up in lose, the wise ones later understand that buying and holding longer to sell off some in future is than hoping on buying low to sell high within short period.

Truth, you earn more by holding (best chance) or trading (lucky chance) spending it means selling off some portions either at lose or when it's overaccumulated, except the person is selling for a more profitable option with potential.

[macson]

How do we convince them to also spend or use it as MoE?

But why do you feel the need to convince someone to spend their Bitcoin? It's true that Bitcoin is a digital currency, but how someone uses their Bitcoin isn't really your business, and you don't need to convince anyone to spend their Bitcoin because you're not in any position to tell others what they should do with their own assets.

And ofcourse, we know there are people who really want to spend their bitcoins but no reliable marketplace and fast payment system exist that they can do so easily  This is what we should be seriously working on otherwise we shouldn't blame them too much for not soending

AFAIK, nowadays there are already many platforms that support payment gateways allowing payments with Bitcoin. I've even paid for my domain with Bitcoin before. But again, why should we blame people who don't spend their Bitcoin? I think they're not doing anything wrong, it's entirely their right to either spend it or not.

[ZAINmalik75]

Those who are holding bitcoin for investment purposes also want to buy any kind of product by transacting through bitcoin. Because no one invests in bitcoin just for holding. They will definitely use that bitcoin in future . Maybe at that time their amount will be very large, with which they will buy any asset according to their needs or use some bitcoin from that bitcoin holding regularly. In order to use this opportunity properly for managing the rest of their lives, it is necessary to have universal use of bitcoin and the opportunity to transact through bitcoin in all sections.

Now bitcoin is in the early stage. Even then, the acceptance of bitcoin has increased a lot. Now with time, the section of bitcoin transactions will increase further. Many big shops or companies will create the opportunity to transact through bitcoin. Then maybe people will be able to continue transacting through bitcoin very naturally.

There is actually a difference in buying something with your bitcoins after holding them for a good amount of time and when they have already reached a good value, and buying something with your bitcoins right after you buy it, because most people don't do that and that's the reality. We have to accept it that nowadays, most people buy or invest in Bitcoin for holding since they know they are going to make money by doing this, and making money is everyone's target because it's a necessity for all.

If I buy 1 Bitcoin today for $80k, and keep holding it for 4 years or more and price per Bitcoin reaches $160k and then I decide to use my bitcoins to buy something, then that doesn't mean I bought my bitcoins for spending but I had bought them for holding and now that I have achieved my goal, now I'm spending them. This is mostly what people are doing these days, you will barely find anyone who will use their fiat to first buy bitcoin and then spend those bitcoins to buy something.

[Miles2006]

From my observation ever since bitcoin gained value it’s either people are obsessed with spending bitcoin meaning using bitcoin as a payment method or hold bitcoin for the long run.
Having the idea to spend bitcoin is totally fine but from a different angle bitcoin is viewed as a valuable asset and people are ready to go extra miles in owning bitcoin so they don’t mind scamming other to get it. People get scammed holding fiat so why not bitcoin, we should be careful when spending bitcoin if only people want to replace fiat, secondly finding an organization that pays with bitcoin is optionally especially the tech sector while finding a market system that supports the use of bitcoin for payment is difficult probably due to government regulation. The issue of bitcoin trade is discussed several times, personally the idea of holding bitcoin for the long run is obviously more profitable.

[Floczy]

To encourage spending, we need to introduce more ways to earn and also inform already earners to spend part of what they earn. They should have no problem spending bitcoins since they will be earning more. And if spenders are prudent or smart enough, they would be spending their bitcoins on things they can sell for more bitcoins, or things that help them produce more things they can sell for bitcoins.

To make this possible you will need a Bitcoin based business,
But If you buying of items in Bitcoin is dependent on your ability to sell items in Bitcoin then you may never get to buy items with Bitcoin. where I'm from it may get difficult sometimes to see someone who buys items with bitcoin, outside this forum there are just little individuals willing to do transactions with Bitcoin, if you support the usage of Bitcoin for buying and selling then it should start with you, you don't have to make it dependant on who Is willing to buy from you with Bitcoin first

Meanwhile it's all personal to whom want their Bitcoin as store of value or medium of exchange, I know majority go for store of value and it's basically because majority are after profits and still inflation than other benefits.

[Versatile_choice]

No one would be willing to make such a foolish decision right now. Because every investor and every person knows what the price of Bitcoin can be in the future and how much Bitcoin can make us in the future if we hold Bitcoin now. Despite this advantage, no one would ever be willing to trade with Bitcoin, especially not me.

That's not true @Tongley you seem to have forgotten that there's no guarantee about the outcome of our investment? I know Many have already set how much profit they will make in the future but for now it's unrealistic expectations because they are not sure if it will work out as planned.

Well, I know bitcoin is valuable especially for you and I but most people don't see it that way. Some guys spend their bitcoin unnecessarily, it is true that bitcoin is not good in trading but for Long term investment.