Are you spending or hodling? (a poll to summarize previous threads)

[Possum577]

i'll make sure to refresh the results so we can all learn from the findings.

It would be really great if we could get several hundred people participating.

Thanks.

[BittBurger]

The proper protocol is to force yourself to spend, and then replenish what you've spent.

It takes extra effort.  But those who just hold are doing nothing to further the Bitcoin economy, and are thereby reducing the chance their their "HODLINGS" will go up in value.

Use the coins folks.  As often as possible.  Then replenish

-B-

[Cryptopher]

I'm guerrilla trading. I don't have the confidence to hodl, perhaps if I had entered the game real early then I wouldn't have to worry about my initial investment.

Once I cashout my initial investment then I'll look to hodl when the time is right.

[smoothie]

i am HOARDLING. 

[Slark]

I would only tell you that this is one of dozens thread about this matter. People are asking the same question all over again everyday. I would not go so far as to say that bitcoin price will be much higher than it is now in the near future so I am spending all my coins. If i want something i just buy it...

[Possum577]

The proper protocol is to force yourself to spend, and then replenish what you've spent.

It takes extra effort.  But those who just hold are doing nothing to further the Bitcoin economy, and are thereby reducing the chance their their "HODLINGS" will go up in value.

Use the coins folks.  As often as possible.  Then replenish

-B-

There's a proper protocol for how to use Bitcoin? That sounds like "fiat talk!" In fact, if we were all to hodl Bitcoin, the price would go up because none of us would be willing to sell any. The transactional nature of Bitcoin is what keeps its price stable.

I think the beauty of Bitcoin is it's versatility to satisfy what its user wants to satisfy...it's not just a medium of exchange or a store of value, right now it's both.

Thanks for your comment and vote.

[Possum577]

I would only tell you that this is one of dozens thread about this matter. People are asking the same question all over again everyday. I would not go so far as to say that bitcoin price will be much higher than it is now in the near future so I am spending all my coins. If i want something i just buy it...

You're absolutely right, which is why I thought it would be more useful to just have a poll on the topic...so people can see the general consensus after voting rather than having to read through many comments and then guess which way the community is leaning.

[dKingston]

The proper protocol is to force yourself to spend, and then replenish what you've spent.

I think a lot of people do this, myself included. By spending your bitcoin you will be able to reap the benefits of using bitcoin (near instant transaction, low/no fees for sending money around the world, potential discounts by merchants), will further the bitcoin economy, potentially get more people to buy and use bitcoin. By purchasing an approximately equal amount on an exchange or a trade you will not lose out on any potential price appreciation.

[herebittybittybitty]

I'm not sure how to answer this. I buy plenty of stuff with btc, although I am "invested" in btc with my mining equipment... I don't plan on converting any of those coins to fiat, though.

[Razick]

I'm holding and spending. I've spend $90 in Bitcoin in about a week, but I replace it whenever I buy something.

[MakeBelieve]

Spending and holding I think I've spent around $150 this month alone in Bitcoin and have replaced 50% of it again.

[Soros Shorts]

Although my net bitcoin holdings are going up on a monthly basis, I do spend a lot of it. For example, I just spent some coins on a small Dell server which will be used as a firewall and to control a cabinet of miners. Last week I spent some BTC on a nice Rado watch from overstock.com. By spending my coins I feel like I am rewarding businesses that accept it. In the long run, you need market penetration for the value to go up. For that to happen, you need more stores to accept it. If everyone holds, no store would bother to accept it as payment.

[bitgeek]

I buy the things I need (mostly electronics) and save the rest. This way whatever happens I won't be broke and sad.
If bitcoin goes up I'll profit, if it goes down, I'll still have more than I had a year ago when I got involved. Do what you want with your coins but have no regrets.

[cryptworld]

I spend some and I hold most part
That's because I can't spend it in the shops that I want yet

[TheButterZone]

Hodling, I do not sell at a loss. See you at $1 USD/BTC, fucking tankfest.

[wesk1212]

ppl who are holding like f**k are not contributing  to bitcoin ecosystem.
and just begging the price to rise somehow..these ppl are like germs on bitcoins.

me personally, ive spent about 0.8 BTC (~500$) this month.

[chennan]

The proper protocol is to force yourself to spend, and then replenish what you've spent.

it is true. Due to the deflationary characteristic of btc, people tend to hoard it. The poll on the top can show it.

[TheButterZone]

People who are panic/market selling are contributing shit to the bitcoin ecosystem.

[heybigboy1]

I'm doing a bit of everything, mostly buying and holding though.

[keithers]

I am holding, but adding a little more here and there.   I don't really spend any BTC unless it is a company that is only accepting BTC and not fiat.   When I do spend it, I immediately purchase the same amount of BTC to replace it though.