Are You Spending Bitcoin? - page 11.

ensurance982

hero member

Activity: 518

Merit: 500

Trust me!

Quote from: jeromanomic on August 10, 2014, 06:29:17 AM

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)

TheGame

member

Activity: 66

Merit: 10

You just lost

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

Daniel91

legendary

Activity: 3374

Merit: 1824

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

MakeBelieve

hero member

Activity: 602

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

sandykho47

sr. member

Activity: 252

Merit: 251

Knowledge its everything

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

Quote from: Justin00 on August 10, 2014, 07:33:14 AM

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

Quote from: Baitty on August 10, 2014, 07:30:14 AM

Quote from: BTCevo on August 10, 2014, 07:27:15 AM

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

Justin00

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Activity: 910

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★YoBit.Net★ 350+ Coins Exchange & Dice

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

Quote from: Baitty on August 10, 2014, 07:30:14 AM

Quote from: BTCevo on August 10, 2014, 07:27:15 AM

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.

MakeBelieve

hero member

Activity: 602

Merit: 500

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.

Baitty

hero member

Activity: 532

Merit: 500

Currently held as collateral by monbux

Quote from: BTCevo on August 10, 2014, 07:27:15 AM

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.

BTCevo

legendary

Activity: 1834

Merit: 1008

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

Baitty

hero member

Activity: 532

Merit: 500

Currently held as collateral by monbux

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.

gtraah

sr. member

Activity: 420

Merit: 250

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!

Cranky4u

hero member

Activity: 810

Merit: 1000

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.

TrailingComet

sr. member

Activity: 462

Merit: 250

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

guybrushthreepwood

legendary

Activity: 1232

Merit: 1195

Quote from: jeromanomic on August 10, 2014, 06:29:17 AM

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.

Meuh6879

legendary

Activity: 1512

Merit: 1012

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)

Gervais

sr. member

Activity: 366

Merit: 250

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

LiteCoinGuy

legendary

Activity: 1148

Merit: 1014

In Satoshi I Trust

Are You Spending Bitcoin?

Yes.

jeromanomic

newbie

Activity: 28

Merit: 0

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?

Topic: Are You Spending Bitcoin? - page 11. (Read 8660 times)