Bitcoin Forum
December 14, 2017, 03:48:06 AM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1] 2 3 4 5 6 7 8 9 10 11 »  All
  Print  
Author Topic: Are You Spending Bitcoin?  (Read 8195 times)
jeromanomic
Newbie
*
Offline Offline

Activity: 28


View Profile
August 10, 2014, 11:29:17 AM
 #1

I just read this:
http://www.finance-guy.net/finblog/how-will-you-spend-your-bitcoin/10/8/2014

It raises an interesting point that if we spend Bitcoin to buy stuff, the companies will most likely sell the BTC pretty quickly.

What do you think?

Will shopping with Bitcoin be good or bad for the price of BTC?
1513223286
Hero Member
*
Offline Offline

Posts: 1513223286

View Profile Personal Message (Offline)

Ignore
1513223286
Reply with quote  #2

1513223286
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1513223286
Hero Member
*
Offline Offline

Posts: 1513223286

View Profile Personal Message (Offline)

Ignore
1513223286
Reply with quote  #2

1513223286
Report to moderator
LiteCoinGuy
Legendary
*
Offline Offline

Activity: 1148


In Satoshi I Trust


View Profile WWW
August 10, 2014, 11:48:45 AM
 #2

    
Are You Spending Bitcoin?


Yes.

Gervais
Sr. Member
****
Offline Offline

Activity: 366



View Profile
August 10, 2014, 11:55:14 AM
 #3

Some people spend, some hodl. What does it matter if they sell it? The money goes back into the system and round and round.
Meuh6879
Legendary
*
Offline Offline

Activity: 1456



View Profile
August 10, 2014, 11:56:26 AM
 #4

I always pay (now) with fiat currency ... so no, i transform in BTC to hold ... but not use (perhaps when my car will fail, i search a car bitcoin seller  Grin they always accept many particulate money when they WANT sell without the old car)
guybrushthreepwood
Hero Member
*****
Offline Offline

Activity: 742


View Profile
August 10, 2014, 11:58:00 AM
 #5

Will shopping with Bitcoin be good or bad for the price of BTC?

How could it possibly be bad. Merchants are what drives adoption. We need people constantly spending their coins to higher the demmand and thus with a limited supply the price will rise.

TrailingComet
Sr. Member
****
Offline Offline

Activity: 462


View Profile
August 10, 2014, 11:58:40 AM
 #6

Yes absolutely
I hold 50%, spend the rest and trade stuff to replenish

Cranky4u
Hero Member
*****
Offline Offline

Activity: 800



View Profile WWW
August 10, 2014, 12:01:58 PM
 #7

People must use BTC as a transaction (spend) or the entire system freezes up with everyone holding. This would leave bugger all currency floating around, pushing the coins through the roof in price until nobody will swap them for goods because transactions are limited.

Moral of the situation, in order for the BTC economy to grow then a reasonable percentage of the BTC economy must be transacted.

gtraah
Sr. Member
****
Offline Offline

Activity: 420



View Profile
August 10, 2014, 12:15:49 PM
 #8

When ever I spend I buy the exact amount back.

Also It does not matter if they sell right away, someone will always buy it. Eventually when the price is more stable these companies will start to figure that they may as well hold some eventually they may end up holding all, Overstock already holds 10% possibly even more now.

And If MANY shops start to accept it. Food, Electronics, Auto industry, Bills (Water, Gas, electricity), Fuel , telephone etc...

Eventually they will realise well the price is stable, Millions of merchants are now accepting it & price is slowly on the creep up... this currency is Finite and deflationary.. it will make sense to start keeping 20/30/40/50% or maybe even more... At the end of the day since so many merchants are accepting we can even use it like normal dollars and pay our bills with it or buy stock with it ETC

I think we should stop worrying about what companies do with the BTC after we purchase in the long term this is helping this industry and Bitcoin, you can believe that!

█ █ █ █ █
█ █ ● █ █
● █ █ █ █
█ ● █ █ █
█ █ █ █ ●
█ █ █ █ █
█ ● █ █ █
● █ █ ● █
█ █ █ █ █
█ █ █ █ █
█ ● █ █ █
● █ █ █ ●
█ █ █ █ █
               ▄▄█  █▄▄
            ▄█████  █████▄
       ▄  █▄ ▀▀███  ███▀▀ ▄█  ▄
   ▄▄███  ████▄▄ ▀  ▀ ▄▄████  ███▄▄

  ▀▀███  ████▀▀ ▄  ▄ ▀▀████  ███▀▀  ▄
███▄▄  ▀  ▀▀ ▄▄███  ███▄▄ ▀▀  ▀  ▄▄███
█████▀      ▀█████  █████▀      ▀█████
█▀▀  ▄▄█  ██▄▄ ▀▀█  █▀▀ ▄▄██  █▄▄  ▀▀█
   █████  ██████      ██████  █████
█▄▄  ▀▀█  ██▀▀ ▄▄█  █▄▄ ▀▀██  █▀▀  ▄▄█
█████▄      ▄█████  █████▄      ▄█████
███▀▀  ▄  ▄▄ ▀▀███  ███▀▀ ▄▄  ▄  ▀▀███
▀  ▄▄███  ████▄▄ ▀  ▀ ▄▄████  ███▄▄  ▀
   ▀▀███  ████▀▀ ▄  ▄ ▀▀████  ███▀▀
       ▀  █▀ ▄▄███  ███▄▄ ▀█  ▀
            ▀█████  █████▀
               ▀▀█  █▀▀
█ █ █ █ █
█ █ ● █ █
● █ █ █ █
█ ● █ █ █
█ █ █ █ ●
█ █ █ █ █
█ ● █ █ █
● █ █ ● █
█ █ █ █ █
█ █ █ █ █
█ ● █ █ █
● █ █ █ ●
█ █ █ █ █
A Blog That Discusses About
Artificial Intelligence   The Future   Ethics on AI   and more
█ █ █ █ █
█ █ ● █ █
● █ █ █ █
█ ● █ █ █
█ █ █ █ ●
█ █ █ █ █
█ ● █ █ █
● █ █ ● █
█ █ █ █ █
█ █ █ █ █
█ ● █ █ █
● █ █ █ ●
█ █ █ █ █
Baitty
Hero Member
*****
Offline Offline

Activity: 532

Currently held as collateral by monbux


View Profile
August 10, 2014, 12:24:23 PM
 #9

I'm forever doing little trades with Bitcoin because I know without trading Bitcoin this revolutionary idea will eventually die people need to trade to make it worth as much as it is.

Currently held as collateral by monbux
BTCevo
Legendary
*
Offline Offline

Activity: 1148



View Profile
August 10, 2014, 12:27:15 PM
 #10

I use it mostly for day trading, other than that it has no use to me  Undecided

.BITSLER.                 ▄███
               ▄████▀
             ▄████▀
           ▄████▀  ▄██▄
         ▄████▀    ▀████▄
       ▄████▀        ▀████▄
     ▄████▀            ▀████▄
   ▄████▀                ▀████▄
 ▄████▀ ▄████▄      ▄████▄ ▀████▄
█████   ██████      ██████   █████
 ▀████▄ ▀████▀      ▀████▀ ▄████▀
   ▀████▄                ▄████▀
     ▀████▄            ▄████▀
       ▀████▄        ▄████▀
         ▀████▄    ▄████▀
           ▀████▄▄████▀
             ▀██████▀
               ▀▀▀▀
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄             
▄▄▄▄▀▀▀▀    ▄▄█▄▄ ▀▀▄         
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄       
█  ▀▄▄  ▀█▀▀ ▄      ▀████   ▀▀▄   
█ █▄  ▀▄   ▀████       ▀▀ ▄██▄ ▀▀▄
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
█  ▀▀       ▀▄▄ ▀████      ▄▄▄▀▀▀  █
█            ▄ ▀▄    ▄▄▄▀▀▀   ▄▄  █
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
█ ▄▄   ███   ▀██  █           ▀▀  █ 
█ ███  ▀██       █        ▄▄      █ 
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀   
▀▄            █        ▀▀      █   
▀▀▄   ███▄  █   ▄▄          █   
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀     
▀▀▄   █   ▀▀▄▄▄▀▀▀         
▄▄▄▄▄▄▄▄▄▄▄█▄▄▀▀▀▀               
              ▄▄▄██████▄▄▄
          ▄▄████████████████▄▄
        ▄██████▀▀▀▀▀▀▀▀▀▀██████▄
▄     ▄█████▀             ▀█████▄
██▄▄ █████▀                ▀█████
 ████████            ▄██      █████
  ████████▄         ███▀       ████▄
  █████████▀▀     ▄███▀        █████
   █▀▀▀          █████         █████
     ▄▄▄         ████          █████
   █████          ▀▀           ████▀
    █████                     █████
     █████▄                 ▄█████
      ▀█████▄             ▄█████▀
        ▀██████▄▄▄▄▄▄▄▄▄▄██████▀
          ▀▀████████████████▀▀
              ▀▀▀██████▀▀▀
            ▄▄▄███████▄▄▄
         ▄█▀▀▀ ▄▄▄▄▄▄▄ ▀▀▀█▄
       █▀▀ ▄█████████████▄ ▀▀█
     █▀▀ ███████████████████ ▀▀█
    █▀ ███████████████████████ ▀█
   █▀ ███████████████▀▀ ███████ ▀█
 ▄█▀ ██████████████▀      ▀█████ ▀█▄
███ ███████████▀▀            ▀▀██ ███
███ ███████▀▀                     ███
███ ▀▀▀▀                          ███
▀██▄                             ▄██▀
  ▀█▄                            ▀▀
    █▄       █▄▄▄▄▄▄▄▄▄█
     █▄      ▀█████████▀
      ▀█▄      ▀▀▀▀▀▀▀
        ▀▀█▄▄  ▄▄▄
            ▀▀█████
[]
Baitty
Hero Member
*****
Offline Offline

Activity: 532

Currently held as collateral by monbux


View Profile
August 10, 2014, 12:30:14 PM
 #11

I use it mostly for day trading, other than that it has no use to me  Undecided

How does it not have any use to you? are you using Bitcoin just to profit in fiat? if so you are doing it wrong and will probably lose out in the long run even if you do profit for a short while.

Currently held as collateral by monbux
MakeBelieve
Hero Member
*****
Offline Offline

Activity: 602


View Profile
August 10, 2014, 12:32:06 PM
 #12

I mostly purchase small items which are easier to purchase with Bitcoin but because not every place accepts Bitcoin I don't use it for the majority of my purchases.

On a mission to make Bitcointalk.org Marketplace a safer place to Buy/Sell/Trade
Justin00
Legendary
*
Offline Offline

Activity: 910


★YoBit.Net★ 350+ Coins Exchange & Dice


View Profile
August 10, 2014, 12:33:14 PM
 #13

Can you explain your opinion on why they would lose out in the long run ?

I bought something with BTC the other day.. Hadn't spent any in a while. Was a tiny amount, like 0.03 but easier than using paypal so I was happy to use it.. this time Smiley

I use it mostly for day trading, other than that it has no use to me  Undecided

How does it not have any use to you? are you using Bitcoin just to profit in fiat? if so you are doing it wrong and will probably lose out in the long run even if you do profit for a short while.

sandykho47
Sr. Member
****
Offline Offline

Activity: 252

Knowledge its everything


View Profile
August 10, 2014, 12:47:23 PM
 #14

Yes, i just some buy some original games with bitcoin  Grin
and i think bitcoin price might down if they as fast as they can / might went up if they believe BTC price will raise up  Grin

Can you explain your opinion on why they would lose out in the long run ?

I bought something with BTC the other day.. Hadn't spent any in a while. Was a tiny amount, like 0.03 but easier than using paypal so I was happy to use it.. this time Smiley

I use it mostly for day trading, other than that it has no use to me  Undecided

How does it not have any use to you? are you using Bitcoin just to profit in fiat? if so you are doing it wrong and will probably lose out in the long run even if you do profit for a short while.

Yeah, i use BTC to buy items. because the low fee  Grin than paypal

Kemampuanku Tidak semua orang memiliki dan dapat melakukannya . Tidak memakan kaum sendiri . dan mempunyai kode etik yang tidak masuk akal.
MakeBelieve
Hero Member
*****
Offline Offline

Activity: 602


View Profile
August 10, 2014, 12:53:48 PM
 #15

I can't wait for the day where I'll be able to pay with Bitcoin for my utility bills and grocery bills.

On a mission to make Bitcointalk.org Marketplace a safer place to Buy/Sell/Trade
Daniel91
Legendary
*
Offline Offline

Activity: 1316



View Profile
August 10, 2014, 01:08:20 PM
 #16

Yes I spending Bitcoin and don't see what is the problem with this.
If nobody spend Bitcoin, for buying digital services and products, merchants will not be interesting to accept bitcopin as additional currency.
Trade can just help global popularity of Bitcoin, so it's not wrong to spend it Smiley

TheGame
Member
**
Offline Offline

Activity: 66

You just lost


View Profile
August 10, 2014, 01:50:45 PM
 #17

I've spent a tiny bit and gambled a little bit, but I'd rather save it for a little while as an investment.
ensurance982
Hero Member
*****
Offline Offline

Activity: 518


Trust me!


View Profile
August 10, 2014, 01:54:45 PM
 #18

I just read this:
http://www.finance-guy.net/finblog/how-will-you-spend-your-bitcoin/10/8/2014

It raises an interesting point that if we spend Bitcoin to buy stuff, the companies will most likely sell the BTC pretty quickly.

What do you think?

Will shopping with Bitcoin be good or bad for the price of BTC?

Yes of course I spend my Bitcoin. I like the idea of this wonderful currency a lot and I want to spread it even further! I think it is very important to do this! It is true that most companies may sell the BTC directly via BitPay or some other payment processor, yet, there are most likely big whales who buy those BTC instantly, because they're supposed to have contracts with those payment processors, as far as I know. So there's not much pressure on the markets (maybe only a slightly more limited demand)

                                                                                                                      We Support Currencies: BTC, LTC, USD, EUR, GBP
Prez
Sr. Member
****
Offline Offline

Activity: 243


View Profile
August 10, 2014, 01:55:09 PM
 #19

I've spent way more than I should of.

If you only hold your coins that real bad imo.
Ron~Popeil
Sr. Member
****
Offline Offline

Activity: 406



View Profile
August 10, 2014, 01:56:13 PM
 #20

I use it all the time. Whatever I spend I replace immediately. I take a hit on exchange fees but it is my way of supporting the bit coin economy.

Pages: [1] 2 3 4 5 6 7 8 9 10 11 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!