Are You Spending Bitcoin?

[keithers]

The last BTC that I spent was to purchase a Trezor bitcoin wallet.   I think I am going to purchase another one shortly.   If something happens to my current one, I don't want to have to order one then, and then wait a few weeks and all that...

I know I can load it into wallet32 or whatever, but I would rather just reboot onto another Trezor

[Winner]

spent over 80+ btc on altcoins -_-

[QuestionAuthority]

I'm not really spending them anymore. I spent a lot of them monthly when I was mining Bitcoin. I paid as many of the mining bills as I could using Bitcoin. I even bought box fans to blow on the mining rigs using an Amazon gift card from SpendBitcoins. Now that I don't mine anymore I hold them. I know I should spend them and replace the ones used but that's too much of a hassle and I'm lazy.

[Bit_Play]

Yes paying webhosting services

[virtfund]

It will be bad for the price of Bitcoin, but it's important that people spend anyways. This is what will continue to get businesses to accept it and make people want to keep working on it.

[dankkk]

I'm not really spending them anymore. I spent a lot of them monthly when I was mining Bitcoin. I paid as many of the mining bills as I could using Bitcoin. I even bought box fans to blow on the mining rigs using an Amazon gift card from SpendBitcoins. Now that I don't mine anymore I hold them. I know I should spend them and replace the ones used but that's too much of a hassle and I'm lazy.

Coinbase has a feature that is called something along the lines of spend and recharge. It allows you to buy something with bitcoin in your coinbase account from a merchant that accepts bitcoin then coinbase will purchase an equal amount of bitcoin for you (debiting your bank account) so you end up with the same amount of bitcoin.

I think this is actually quite smart on their end because they would be making two fees, one from you repurchasing the bitcoin from them and one from the merchant.

[chassis]

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?

it is definitely good for the price, i mean it will affect other people' s opinion towards BTC, and push the government to accept it further,
meanwhile it will promote the popularity of BTC, which is quite good for raising the price of BTC.

[QuestionAuthority]

I'm not really spending them anymore. I spent a lot of them monthly when I was mining Bitcoin. I paid as many of the mining bills as I could using Bitcoin. I even bought box fans to blow on the mining rigs using an Amazon gift card from SpendBitcoins. Now that I don't mine anymore I hold them. I know I should spend them and replace the ones used but that's too much of a hassle and I'm lazy.

Coinbase has a feature that is called something along the lines of spend and recharge. It allows you to buy something with bitcoin in your coinbase account from a merchant that accepts bitcoin then coinbase will purchase an equal amount of bitcoin for you (debiting your bank account) so you end up with the same amount of bitcoin.

I think this is actually quite smart on their end because they would be making two fees, one from you repurchasing the bitcoin from them and one from the merchant.

Yeah, that whole "debiting your bank account" isn't working for me. I don't trust companies that have been around for 40 years to automatically debit my account. I'm certainly not going to trust two kids that have been running a Bitcoin business out of an apartment in San Francisco for a year and a half.

[Snorek]

I am spending bitcoin. I try to use bitcoin as traditional currency. It is the way it suppose to be in my opinion. Not stacking it and waiting for higher price...

[ClownHunter]

spent over 80+ btc on altcoins -_-

I don't think this so much counts as spending your bitcoin, but is rather speculating that the price of a scamcoin will increase.

[Snorek]

spent over 80+ btc on altcoins -_-

I don't think this so much counts as spending your bitcoin, but is rather speculating that the price of a scamcoin will increase.

I feel the same way. But if you are certain that your ability to speculate with alt coin is great you can earn. But most of the time I see massive loss only...

[Nawaytes]

I've invested some business with bitcoin and take profit from it ,
what it can call spending bitcoin

[Winner]

spent over 80+ btc on altcoins -_-

I don't think this so much counts as spending your bitcoin, but is rather speculating that the price of a scamcoin will increase.

I feel the same way. But if you are certain that your ability to speculate with alt coin is great you can earn. But most of the time I see massive loss only...

I should've said I lost 80+ btc on altcoins lollll

so far bought nothing with my remaining btc

[tzortz]

I believe most keep them until it goes high to the sky.

[keithers]

Are any of you spending BTC on subscription based services?   If so, do you need to manually pay each month, or does it automatically re-calculate the amount of BTC that is due each month (depending on current prices)?

[Timetwister]

It will be bad for the price of Bitcoin, but it's important that people spend anyways. This is what will continue to get businesses to accept it and make people want to keep working on it.

Why is it bad? Spending them is good for its purchasing power, as more people realize that it's useful.

[MaryKris]

yes.. spending it with services and some sort of stuff. What is your first thought if you are not spending your bitcoin..

[JazzCouncil]

I spent some BTC on services, and still holding the rest... Oh wait, i also bought altcoins.
When i see some cool company starting to accept bitcoin i will buy stuff from them with great pleasure.

[David1978]

I spend and then replace them. Then spend again

[arxwn]

The important thing is for the bitcoins not only to be spent but actually invested into bitcoin generating companies.