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Author Topic: How can you spend bitcoin if you do not earn bitcoin?  (Read 1351 times)
themusicgod1
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May 14, 2014, 03:28:13 PM
 #21

 
Stop working for fiat, start working for bitcoin, problem solved.  If you're working for fiat, you're basically as good as unemployed right now.
eternalgloom
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May 14, 2014, 03:29:40 PM
 #22

it is not a good move to use fiat money to buy bitcoin and then spend the bitcoin as it will turn out to be more expensive and ineffective
I bought some when it was at 200 - 300 dollar, it was already being shown in the mainstream media at that time.
The price has been all over the place since then, but it never got lower than the price I bought it for.

So for me it was definitely worth it, and I think there are many more people who bought into bitcoin at a very decent price.

DannyHamilton
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May 14, 2014, 03:33:16 PM
 #23

simply because you lose more if you spend those bitcoins because they rise in value, unlike fiat which is inflationary. If say today you bought a laptop for 1 btc @450. Tomorrow the price of btc goes up 10% to 495 and the vendor adjusted the btc price accordingly to 0.9 btc. You lose out 0.1 btc, if only you just waited the next day to buy that same laptop but at 0.9btc. Spending btcs will always be a loss because it's deflationary.

You are ignoring the fact that instead of buying that laptop with the $450, you could have bought 1 BTC.  Buy buying the laptop (with fiat currency) instead of buying the BTC, you are losing the opportunity for that unpurchased bitcoin to go up 10%.  Therefore, you lose just as much (0.1 BTC) regardless of whether you spend BTC or fiat.
Elwar
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May 15, 2014, 03:53:36 AM
 #24

not everyone can get used to a deflationary monetary system.

Not everyone is successful.

I would rather not be part of that everyone.

First seastead company actually selling sea homes: Ocean Builders https://ocean.builders  Of course we accept bitcoin.
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May 15, 2014, 03:59:26 AM
 #25

If you are spending the BTC once it is worth a higher dollar amount than when you purchased it, you are gaining money.   Also if you are receiving a significant discount for purchasing with BTC instead of fiat, then it helps out there also.   Also, soon there may be places you wish to purchase from that will accept BTC only...
franky1
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May 15, 2014, 04:26:16 AM
 #26

Say for example, your daily job pay you fiat on monthly basis, so you got the fiat money to spend,

it is not a good move to use fiat money to buy bitcoin and then spend the bitcoin as it will turn out to be more expensive and ineffective

the only thing i can think of is that you mine bitcoin and then spend the bitcoin you mine, however, this turn out to be ineffective as well due to the fact that difficulty have increased, and you can only mine less and less bitcoin per month

the other way is that you are the early adopter where you got more than 10000 bitcoin to spend , so you just spend it like normal fiat money

however

the 99.99% of population is not the early adopter and I can see no reason why anyone would spend bitcoin , anyone please think of a good idea how can we solve this

we are still in the transition between innovation and early adoption. bitcoin industry  EG retailers, suppliers, etc is growing fast but not yet at the point were the general public are ready to use daily. so dont think early adoption has passed.. its only beginning.

many people that are not true bitcoiners. that just want it as a quick couple month profitable investment. they are not innovators or adopters. they are still tied to their FIAT, so dont worry about them as all they want is naive noobs to buy their coins so they can cash out. for the rest of us we are trying to aspire business acceptance and to grow new enterprises, while atleast trying to weed out and destroy harmful scammer attempts.. so as part of the innovation stage, dont worry about joe public just yet, concentrate on business expansion, making more uses of bitcoin, making new features and benefits to using bitcoin. and the easiest way to do this is to think "if i had X bitcoin, what would i like to do with it?" and try filling that void or aspiring others to fill the void

but inshort: you are correct bitcoin is not ready for the 99.99% of adopters (joe public)

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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