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Topic: Bitcoin issue (Read 1327 times)

sr. member
Activity: 423
Merit: 250
February 09, 2016, 10:58:21 AM
#31

this!  If I could get paid for my regular work in Bitcoin then I would certainly spend it.  Buying Bitcoin with fiat then spending it seems strange.  Most people are probably hodling.


The problem is as I receiving fiat as a income, I preffer to ged rid of the fiat first because I prefer to keep the currency which I value more - Bitcoin. Obviously there are products like mining rigs where I need Bitcoins only so I have no other choice than to spend Bitcoins instead.

And yes there are fees when buying Bitcoins, so buying Bitcoin with fiat then spending is really not best way imo.
full member
Activity: 238
Merit: 100
February 09, 2016, 10:43:17 AM
#30
Maybe some people is trying to get btc without first deposit their real money...so it will be hard to get more and more..and they try to invest their own btc and keep it grow..its why hard for them to spend btc
full member
Activity: 238
Merit: 100
February 09, 2016, 10:25:39 AM
#29
This is an issue, because volatility is a contributing factor for hoarding. If you know something will be more valuable in the short term, you tend to hold

on to it, until you get the better price. If I think the Bitcoin price is going to double within the next few months or within a year, and I can get 100%

back on my investment, I will hoard until that happens. A lot of people hoard, simply because they bought at a higher price than what the price is

currently.


I figured there would be no harm in here. I dont actually believe its value will shoot up. But what i do believe is that if not sooner, BTC will surely grow its value.
hero member
Activity: 560
Merit: 501
February 09, 2016, 10:20:58 AM
#28
It is true. Some people dont want them, others just keep them as an investment because they think the price will rise. I think it would be best to email owners to start accepting them .
legendary
Activity: 1904
Merit: 1074
February 09, 2016, 10:08:35 AM
#27
This is an issue, because volatility is a contributing factor for hoarding. If you know something will be more valuable in the short term, you tend to hold

on to it, until you get the better price. If I think the Bitcoin price is going to double within the next few months or within a year, and I can get 100%

back on my investment, I will hoard until that happens. A lot of people hoard, simply because they bought at a higher price than what the price is

currently.
legendary
Activity: 1372
Merit: 1032
All I know is that I know nothing.
February 09, 2016, 10:05:01 AM
#26
People start holding bitcoins for too long, they should spend it too for growth of bitcoins.
So, holding for long is the main issue these days with the bitcoins

people are holding bitcoin mainly because they are looking for a way to get rich quickly. and the history of bitcoin price shows that it is very well possible.

and i don't think lowering price at this point is going to solve anything because they will all leave bitcoin behind.
sr. member
Activity: 294
Merit: 250
February 09, 2016, 10:00:18 AM
#25
So for the last days I've tried to sell my services on the market place: signature, twitter posts and digital content.

Finding clients to pay with Bitcoins is terrible hard! People don't want to spend their coins too easy and many are just keeping their coins.

I believe BTC will succceed but this is a major issue!

If we want things to change I think bringing it to a lower value may be the way... so people can spend it more easily... ok don't rush to argue I want it to be $10,000 but this makes me believe nobody will spend a cent then.

Probably it was more fun spending it in the early days, too bad I wasn't an early adopter - believe it or not I only found out about it in 2013.

I've experienced the same thing with Dogecoin, even if it's lower value people aren't are too eager to spend their coins.
this is naturally happen when bitcoin price high,but when bitcoin price going down,i think many people choose to use bitcoin for payment,not as investement.
newbie
Activity: 28
Merit: 0
February 09, 2016, 09:32:48 AM
#24
People start holding bitcoins for too long, they should spend it too for growth of bitcoins.
So, holding for long is the main issue these days with the bitcoins
legendary
Activity: 1946
Merit: 1137
February 09, 2016, 08:02:06 AM
#23
So for the last days I've tried to sell my services on the market place: signature, twitter posts and digital content.
......

the problem is not with people not wanting to spend their bitcoin. it is because the market is filled with what you have offered.
besides i am not sure how long did you try, but sometimes in any business it would take time for people to find out about you, in other words your luck starts and customers come to you. you have to be patient.
legendary
Activity: 2828
Merit: 2472
https://JetCash.com
February 09, 2016, 07:31:49 AM
#22
You have to buy dollars to buy oil, and it is one of the reasons for the past strength of the dollar. A few countries are trying to change this ( Russia and China for example). I've quoted things for sale in Bitcoin, and offered a discount for using it, but haven't had any takers so far. I guess it's the Bitcoin image, and the ease of buying Bitcoin that causes the block rather than the price. A drop in price is likely to attract more currency investors which will decrease the velocity of Bitcoin.
sr. member
Activity: 252
Merit: 250
February 09, 2016, 07:12:37 AM
#21
So for the last days I've tried to sell my services on the market place: signature, twitter posts and digital content.

Finding clients to pay with Bitcoins is terrible hard! People don't want to spend their coins too easy and many are just keeping their coins.

I believe BTC will succceed but this is a major issue!

If we want things to change I think bringing it to a lower value may be the way... so people can spend it more easily... ok don't rush to argue I want it to be $10,000 but this makes me believe nobody will spend a cent then.

Probably it was more fun spending it in the early days, too bad I wasn't an early adopter - believe it or not I only found out about it in 2013.

I've experienced the same thing with Dogecoin, even if it's lower value people aren't are too eager to spend their coins.
yes i agree with that,people so afraid to spend their bitcoin for their service,and they choose to hold their bitcoin for price increase,this major issue will not resolve for this year.
sr. member
Activity: 423
Merit: 250
January 22, 2016, 03:19:46 PM
#20
For me if there was something I wanted to buy and could pay either in BTC or paypal for example I'd choose to pay in paypal because it is much easier for me to get paypal in the first place. Bitcoin is hard for me to get period, no matter what the price of BTC is at the time it is worth more than that to me because it is not easily replaceable as opposed to paypal funds that I can just take a reloadable card to the dollar store to get.

When the day comes that I can just buy funded BTC cold wallets at the dollar store I will be much more likely to spend BTC.
legendary
Activity: 1358
Merit: 1093
January 22, 2016, 03:09:22 PM
#19

It's not a rocket science. People are not keen on spending bitcoins/altcoins, because they don't get any earnings in BTC/alts.

No income - no spending.

Buying BTC with fiat just to spend it, would require some solid incentive for the buyer.

this!  If I could get paid for my regular work in Bitcoin then I would certainly spend it.  Buying Bitcoin with fiat then spending it seems strange.  Most people are probably hodling.

Buying Bitcoin with fiat is still pretty difficult thing to do. And probably because it's not very easy people don't rush to spend it then. That could be a valid argument also.
hero member
Activity: 756
Merit: 500
January 22, 2016, 12:20:26 PM
#18

It's not a rocket science. People are not keen on spending bitcoins/altcoins, because they don't get any earnings in BTC/alts.

No income - no spending.

Buying BTC with fiat just to spend it, would require some solid incentive for the buyer.

this!  If I could get paid for my regular work in Bitcoin then I would certainly spend it.  Buying Bitcoin with fiat then spending it seems strange.  Most people are probably hodling.
legendary
Activity: 2436
Merit: 1561
January 22, 2016, 12:06:50 PM
#17

It's not a rocket science. People are not keen on spending bitcoins/altcoins, because they don't get any earnings in BTC/alts.

No income - no spending.

Buying BTC with fiat just to spend it, would require some solid incentive for the buyer.
hero member
Activity: 504
Merit: 500
January 22, 2016, 09:51:55 AM
#16
Yeah... people holding back Bitcoin are not helping it getting adopted as a real currency. For that, bitcoiniers need to start using it, spending it everyday as if it was cash.
hero member
Activity: 676
Merit: 500
January 22, 2016, 09:44:35 AM
#15
People don't want to spend their coins too easy and many are just keeping their coins.


Actually spending bitcoins has lot in common with speculation/gambling, when you are wondering if it would be better to do the deal tommorow or next week Wink High volatility is the major problem with bitcoin adaptation as a tender.
sr. member
Activity: 434
Merit: 250
January 22, 2016, 09:21:07 AM
#14
They are actually some issue with bitcoin like you can get scam from some one and you can just get your money back.
After all bitcoin is tell okay is they are not that much issue only I don't like seeing the price going down.
hero member
Activity: 616
Merit: 500
January 22, 2016, 09:18:44 AM
#13
Most people don't want to spend bitcoin because they like to hold for now. For some it's not needed to spend bitcoin since they are saving up for the future plus they might have a job next to the side.
legendary
Activity: 4424
Merit: 4794
January 22, 2016, 09:16:24 AM
#12
this:
If we want things to change I think bringing it to a lower value may be the way... so people can spend it more easily...
is proven to not work because
this:
Dogecoin, even if it's lower value people aren't are too eager to spend their coins.

even if the price is lower. people wont be suddenly incentivised to throw it away.
maybe the problem is not the price of bitcoin.. but the "value" and emotional attachment people have.

put it this way. you have 2 gold necklaces. both valued at $250 each.. but one has sentimental value.. and a belief that it can be used as a keepsake and passed down to the next generation..

say you have a service that you offer thats worth $250 and you want to convince someone to buy your service. its not about convincing people that the sentimental necklace has no emotional meaning, to get them to hand it over.
is not to make the necklaces appear to be worth only $125 and then ask for 2 necklaces..

the convincer is to show people that your service is actually valuable, that your service can offer the buyer something better than $250 value.. to show that you have something that users want desire and need..
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