Do you USE your BTC?

[bSpend]

As everyone knows one of the major problems with Bitcoin economy is hoarding. The idea of this poll is to find out whether the lack of spending in the BTC economy is mainly due to the lack of acceptance of Bitcoin payments, or is it that people can actually buy a good deal of stuff that they need with BTC but choose not to.

[Light]

I hoard a majority of my stash much like anyone else. That being said I do consistently make a point of using Bitcoin to buy things that can actually be bought with Bitcoin - we'll never reach acceptance if no one actually uses it as a payment system. However, it is frustrating to  see that nearly all the major retailers don't accept it - choosing smaller ones seems to lead to bad customer support for me. 

[paulsonnumismatics]

The bitcoin subforum of BTCT is basically a place to meet for bagholders that connect eventually to check if BTC is going to the moon soon.
The rest of topics are basically bashing altcoins, jumping to any new project yelling scam scam scam and general gossip.
Not much around atm. At least thats my opinion.

I just hope this is the calm that precedes the storm. I know of a few projects that are going to re-shape the cryptocoin industry and they're becoming live in around 6-9 months. So we will see. Meanwhile... More slacking.

[bryant.coleman]

So far I have sold around BTC3.0 for fiat cash, using the Bitcoin exchanges. Right now I am without a full-time job and I need fiat really badly. Need to find a new job before my Bitcoin stash runs out. 

[Peter R]

As everyone knows one of the major problems primary uses withof Bitcoin economy is hoarding as a store of value.

Savings (a more appropriate word then "hoarding") are important for a healthy economy.  The demand to hold money (save it) affects the supply available for lending, and thus the risk-free interest rate.  

In the fiat world, the interest rate is reduced by the central bank below its market value to "stimulate the economy."  They achieve this interest-rate reduction by increasing the supply of money available for lending (out of thin air).  This punishes savers (the savers would have lent their money if the interest rate had been higher) and rewards inefficient businesses (inefficient businesses may have gone out of business with higher funding costs, making room for new innovative companies).

When you look at it like this, it becomes clear that any increase in the money supply by the central bank (e.g., to reduce interest rates) is a transfer of wealth from savers to inefficient businesses (and individuals with high debt levels).  

Savings makes the economy more efficient.  

 

[acs267]

As everyone knows one of the major problems with Bitcoin economy is hoarding. The idea of this poll is to find out whether the lack of spending in the BTC economy is mainly due to the lack of acceptance of Bitcoin payments, or is it that people can actually buy a good deal of stuff that they need with BTC but choose not to.

I buy some of my stuff with Bitcoin. It's not really accepted here in the 'South, but, hey. I don't go extremely out and trade Bitcoins every time I get them. And when I spend it on stuff, it's normally on coffee or things I can get a discount from on Amazon.

[gentlemand]

I'd spend more if I could. Unfortunately I'm in the UK which seems to have about as much BTC acceptance as Lesotho.

[Tatsumigaoka]

I always keep some Bitcoins on my Phone as spending money... mostly only stuff and Pizza
Posted from Bitcointa.lk - #IJty8gvjXdEtl02w

[eternalgloom]

I spend about 0.50 BTC a week on food and occasionally I also buy some gifts or precious metals.

[Este Nuno]

I primarily use it to send money around the world and between different online accounts. I've bought games at different sites as well.

[LiteCoinGuy]

you can safe some btc and also spent btc, there is no black or white. so yes i use btc

[E-C.Guru]

Use? It's a store of value, not something you use. 

[TrailingComet]

I have traded some,gambled in tiny and purchased gyft cards

[BittBurger]

Honestly no.  Until .....

Found the app:  "AIRBITZ" that tells me every restaurant and store that accepts bitcoin within a radius of my "current location" and now I am literally hopping around town with my jailbroken iPhone and Blockchain App wallet, buying food and stuff.  Made it WAY easier.  highly recommend the app.

Then I come home and replenish via Coinbase.

-B-

[Lethn]

Any time I see a store I definitely want to use Bitcoin, the problem is there just isn't any stores right now that supply the things I need, the only ones so far that have come close are games and computer components, I'll definitely be buying those with Bitcoin when I can. We're not there yet, but with companies like Overstock.com going for it, we're getting close, when I see my Jewellery supplier accepting Bitcoin etc. or Morrisons I'll be giddy because those are really the main places I spend my money.

Most things I want are just expensive one-off payments, e.g. Cintiq or Jewellery tools that will last for years, I have bought a game with Bitcoin and would have no problem doing so later.

[jbrnt]

I have used bitcoin for gambling. Have considered buying a miner, but did not go through with it because of low profitability. I am not spending bitcoin not because I wish to keep them, but there is nothing I cannot buy with fiat at the moment. If there is something i wish to buy and is cheaper to pay in bitcoin, I would use my bitcoin.

[Morguk]

I haven't used my BTC to buy anything yet, but that won't stop me from using it in the future. I would currently only use it if I could replenish my BTC immediately or beforehand. For example say I wanted to buy an item for 1 BTC, I would simply buy that 1 BTC beforehand with fiat. There is no way I would use my bitcoin savings as I would hate for the price to boom as i'd just spent it. Once it's stable in the future I'll happily use it all the time.

[DynamicDK]

I use my Bitcoin for whatever I can.  Whenever I need to buy something, the first thing I do is try to find someone that accepts Bitcoin.

[Boris-The-Blade]

I use my coins for trading. I never really spend them
I alweays just try and make more coins, Which will be great when or if the price ever goes back up 

[frankenmint]

I have a store that accepts bitcoin to spread the word about bitcoin to others - more or less.

Use your bitcoin to get others to talk about bitcoin today - see signature