Are You Spending Bitcoin?

[jeromanomic]

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?

[LiteCoinGuy]

    
Are You Spending Bitcoin?


Yes.

[Gervais]

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]

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   they always accept many particulate money when they WANT sell without the old car)

[guybrushthreepwood]

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]

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

[Cranky4u]

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]

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!

[Baitty]

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.

[BTCevo]

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

[Baitty]

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

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.

[MakeBelieve]

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.

[Justin00]

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

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

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]

Yes, i just some buy some original games with bitcoin  
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  

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

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

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   than paypal

[MakeBelieve]

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

[Daniel91]

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

[TheGame]

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]

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)

[Prez]

I've spent way more than I should of.

If you only hold your coins that real bad imo.

[Ron~Popeil]

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.