BTC Needs users and not hoarders

[Wilhelm]

Well, I agree to a certain extent, we need an increasing usage in order to attract new merchants and spread the word in general! Bitcoin needs to be used more! BUT: Many people claim that an increased spending of Bitcoin will push the price down, because most merchants are using services like BitPay that immediately convert the BTC to FIAT again...

Bitcoin price recently has tried more than three times to break out but all failed, this showing the general market think bitcoin is over-price & over-value & should go down

If we don't go up soon then some big dumps can be expected, just like the last long sideways which crashed after failed to touch $620
This time bitcoin is going to flash crash down to $1xx - $2xx, however back up again is possible in the long term (may be 2016-2017)

Winklevoss ETF will actually be shot down
GABI is already priced in
Dubai exchange won't create any thing new

Let's talk straight:
Bitcoin has tried it's best to break out but all failed, people are getting out and no one with a college degree will invest any serious sums into bitcoin after MTGOX fiasco,
The market is currently only a playground for gamblers and fanatics

Bitcoin is just like a ponzie pyramid schame today, your fund invested in bitcoin are vanishing because early adopters / merchants are selling / spending / cashing out them very hard (you saw all those " xxx accepted bitcoin" news, most bitcoins accepted are sold right away means your fund has been transferred to the merchants,Convert fiat to bitcoin -> use bitcoin to pay merchant -> merchant convert bitcoin back to fiat),

Only who bought lower than you will sell/use the coins, same as you want more people to buy the price higher than your bought price so you can grab their money and get rich just like a ponzie schame.
The question is people are getting out, no one is buying your coins, what you left at the end are worthless digital numbers

TROLLING 101: Lesson-1: Quoting yourself

[BANK RUN]

I agree with the OP, "BTC Needs users not hoarders"

My moto, "Do like I say not like I do"

[foggyb]

Bitcoin price recently has tried more than three times to break out but all failed, this showing the general market think bitcoin is over-price & over-value & should go down

If we don't go up soon then some big dumps can be expected, just like the last long sideways which crashed after failed to touch $620
This time bitcoin is going to flash crash down to $1xx - $2xx, however back up again is possible in the long term (may be 2016-2017)

Why don't you go ahead and quote yourself in every current ongoing thread? It seems like a sales pitch, you're selling us something. Something smelly.

[minerpumpkin]

Yes, we need to "spread the word" in order to get the rate of adoption higher! For that we need more companies that accept Bitcoin and thus create  possibilities for people to spend their bitcoin. Also, the mere acceptance of Bitcoin will get more people into the ecosystem!

[JimboToronto]

BTC Needs users and not hoarders "investors"/traders.

ftfy

[Ibian]

Screw you buddy. I will keep my savings in whatever form I want. None of your votes are applicable with the chosen wording fyi.

[JimboToronto]

I will keep my savings in whatever form I want.

+1

OP seems to forget that using Bitcoin for savings is a still using them, or does he advocate spending all one's money as fast as it's accumulated and not saving any?

My "hoarded" bitcoins are no more an investment than the little bit of fiat in my bank account, the nickels, dimes and toonies in my pocket or the credits I maintain in my utility accounts.

They're just savings that will eventually be spent.

[CryptoCarmen]

We should try to increase our usage of BTC, in our daily transactions. It is the only way we can really come to trust this new technology and dump CCs.

Random idea:
On your next purchase on an e-commerce website accepting btc, buy bitcoins and use them instantly. Like a reverse bitpay.

What do you think of it as an actual business?

Because of low inflation BTC will always attract much more hoarders then users. In few years time almost everyone will heard of Bitcoin, but believe me they wil rather use some other and just hoard BTC.

[btcformat]

I would not buy anything with a big value nowadays just because the bitcoin will be priced more in the future.

[minerpumpkin]

I would not buy anything with a big value nowadays just because the bitcoin will be priced more in the future.

With Bitcoin or with FIAT money? If you're worried to spend your BTC holdings just because they may be worth more, why not instantly re-buy the same amount of BTC and still pay using BTC and thus supporting the ecosystem?

[JimboToronto]

why not instantly re-buy the same amount of BTC and still pay using BTC and thus supporting the ecosystem?

Or  simply instantly convert revenues to Bitcoin and then buy fiat, goods and services as required.

[johnyj]

Bitcoin is just like a Ponzi pyramid scheme today, your fund invested in bitcoin are vanishing because early adopters / merchants are selling / spending / cashing out them very hard (you saw all those " xxx accepted bitcoin" news, most bitcoins accepted are sold right away means your fund has been transferred to the merchants,Convert fiat to bitcoin -> use bitcoin to pay merchant -> merchant convert bitcoin back to fiat)

Only who bought lower than you will sell/use the coins, same as you want more people to buy the price higher than your bought price so you can grab their money and get rich just like a Ponzi scheme

The question is people are getting out, no one is buying your coins, what you left at the end are worthless digital numbers

The Ponzi scheme metaphor applies to any kind of investment: Stocks, funds, real estate, etc... the only way you can profit from an investment is to sell your cheaply purchased goods at a higher price to the next guy, this even applies to normal business, where you purchase cheap raw materials and make expensive products

I marked the "money" as red in your quotes, it seems that people unconsciously regard fiat money as money. Most of the people have this misconception just because they have been used to this idea since they were born, not because that fiat money indeed has any value. This is similar to: Everyone believe that sun goes around earth since they were children, until the day they were educated about the solar system

In fact, those paper are the biggest Ponzi scheme (Central bank produce money extremely cheap and dump it to people in exchange for expensive things, and they have exclusive right to do it, it is a monopole Ponzi)

Bitcoin is not Ponzi because of its manufacturing cost, as long as the money has a manufacturing cost, it is a normal business activity, its price is purely decided by market demand, while fiat money's price is arbitrary decided by the central bank

[master sato]

I believe a time will come when people see Bitcoin as Gold 2.0. It will take time, but slowly, all will come to see it's financial benefits. Then, a day will come when there is a lot of panic buying. I look forward to that day

[JimboToronto]

blah, blah... troll BS... blah, blah... Ponzi... blah, blah...

**rational response***

You're wasting your breath trying to talk sense to Faiiiiling. He's on many people's ignore lists because he's a troll spammer.

Anyone with a brain knows that Bitcoin's not a Ponzi scam. He's just trying to get a rise out of anyone who'll bite the bait.

[Bitcopia]

Purse.io gets most of my BTC business. I consistently get 20 - 25% off all of my amazon purchases. You should really try it if you haven"t already.

[Ibian]

Purse.io gets most of my BTC business. I consistently get 20 - 25% off all of my amazon purchases. You should really try it if you haven"t already.

Do they let non-US people use it?

[jjacob]

We need all kinds of people in the bitcoin ecosystem - hoarders, spenders, day traders, even people like falllin, 

[dedcoin]

Purse.io gets most of my BTC business. I consistently get 20 - 25% off all of my amazon purchases. You should really try it if you haven"t already.

Thats what am talking about!!! Is it legit?

Why not buy bitcoins before a purchase that you'd normally do in fiat.. and get a discount as a plus .. Waw

I am not asking anyone to depart from their btc just use an replenish instantly

[oda.krell]

Purse.io gets most of my BTC business. I consistently get 20 - 25% off all of my amazon purchases. You should really try it if you haven"t already.

Never heard of them before, but: that's a very smart system. Thanks for the heads up.

I'll read into it to find out if I consider them fully trustworthy. If that's the case, I think I'll use this regularly in the future.

EDIT: hm. just realized, this probably only works with amazon.COM, so shipping limitations (e.g. to Europe) might apply.

[giveBTCpls]

The problem with this is 99% percentes, aka most average joes can't really risk their FIAT to buy stuff with BTC. We'll need bigger merchant adoption and more stability and more importantly better wallet and faster smoother behaviour of the software for it to reach a status where people make their daily expenses with BTC mostly. In fact even in the future it may still be seen as a legit store of value like gold rather than an actual currency. We'll see.