Don't spend bitcoin. Not now. | Bitcointalksearch.org

NavI_027

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Quote from: ?? on ??

Quote from: tvplus006 on March 01, 2020, 08:03:00 AM

Quote from: ?? on ??

[snip]

Until recently, I always did this because I never touched the coins in my portfolio and had a significant part of the funds in stable cryptocurrencies. But recently there was a problem, due to which it was necessary to save one of my family members. As a result, the volume of stable cryptocurrencies seemed small and I had to sell Bitcoin and Ethereum to get the right amount of money. That is why I say that no one will be able to imagine the circumstances that they may encounter and when they will have to sell cryptocurrency at unprofitable prices.

Indeed dude, there is a point in our life where all the plans will suddenly shift due to unexpected happenings. In my case, I also got no choice but to sell my coins despite of the upcoming bitcoin halving in order to sustain all of the expenses for my board exam Sad

. It's very hard for me but I have no choice but to do so. That is my one last shot so I gave all that I've got and thanks God I made it

. I passed the exam and now saving bitcoin again, I believe that I'm not too late for the next halving Grin

. Good luck to everyone.

In the silence

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''Vincit qui se vincit''

From the first day I accumulated my first mBtc from faucets back in the days, I swear not to spend 50% of my earnings, Well it did not played well for me for the price is so overwhelming it tempt me to sell sell sell!
But it was a great experience for me specially handling assets from now on.

saifoufa

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Quote from: yiruma on March 01, 2020, 11:07:56 AM

I think that it is not so important how we use bitcoin now. Indeed, in order for everyone to use it, it is necessary for the government to make Bitcoin the main currency. Until this happens, nothing will change.

What are you even talking about.
There are plenty steps for crypto to be made before government could possible accept it as main currency.
So these step has to be made by crypto companies. You can be sure a lot will happen until govs adopts btc

Betwrong

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I would rename the OP to "Don't spend all of your bitcoin. Not now.", because, as some posters have rightly pointed out, we won't reach the desired heights if Bitcoin will not be used on a daily basis. So, I'd say, considering that the current price isn't the highest BTC price possible, we should spend it moderately, but still spend it once in a while.

yiruma

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I think that it is not so important how we use bitcoin now. Indeed, in order for everyone to use it, it is necessary for the government to make Bitcoin the main currency. Until this happens, nothing will change.

bitbunnny

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I don't support the theory not to spend Bitcoin. To my opinion Bitcoin isn't created to be kept like some sort of souvenir, it has its real value in real life.
Of course holding Bitcoin is a smart decision because on a long term basis it's very likely that you will make some profit, so.the key is to find the balance.
But I strongly believe that Bitcoin should be spent always, in any time, that just needs to be in balance with your holding strategy.

tvplus006

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Of course, very often people make mistakes when they sell cryptocurrency, which has very good prospects in the future. You should always think about the long-term prospects of investments that will change your life for the better. But you also need to take into account the fact that the situation in life changes very often and there are difficulties in which you have to sell cryptocurrency even at a not very favorable price. there is no going anywhere unless there is no other way out.

If our life circumstances change and we need money, it does not matter what the price of bitcoin on the exchange is now. To avoid this, it is necessary to keep part of the funds always closer to yourself. Then we will be able to avoid unprofitable sale of cryptocurrency and our decisions will be made only taking into account the profit.

yupi84crypto

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The mistake that people make when getting profits from bitcoin is directly depleted, even though the important key is that we can succeed
investing in bitcoin by setting capital and profits correctly. If you want to be rich from bitcoin, don't spend bitcoin often. Better to get
profits bought altcoins or buy bitcoin when the price goes down like now. So when the price going back up we can make a double profit.

pankaj1234

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Talking about bitcoin it is really amazing research for online payment .with a limited supplied project their cost should increase by time goes up. in this world there are so many people who don't know about bitcoin when people know about bitcoin it will be highly costly.you can accumulate some bitcoin by different sources like purchase at low prices,margin trading,other activities and hold them for a long period. you will get amazing benefits.so please don't spend your bitcoin. Have a believe in this.

hahay

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Quote from: ArIMy11 on February 26, 2020, 11:08:56 AM

Quote

99% of the world's population still does not understand, do not know and do not trust Bitcoin. And everything is fine. Bitcoin adoption is a lengthy process that may take decades or centuries to happen.

That is right because most of the people I encountered thinks that bitcoin is a networking or worst scam. But I have talked to someone whom I cannot judge up to extent he knows about bitcoin. He knows how to mine. He said he will used raspberry pi in mining then I told him how I am earning crypto and he said "posting quotes". Hmm, I do stopped and think that he does not know about this thing. Maybe he knows trading and mining and thats all. Looks like he does not know alts too.

I do not spend my bitcoin because my target for this year is to earn more bitcoin and if there will be a chance that bitcoin price will rise up again, I will sell those I have saved and continue to get some more bitcoins and other cryptos.

At least you don't need to judge someone quickly, because how can you be so sure if he doesn't know about Alts while he knows how to mining and also trading, that's something I can't believe because people who already understand and know the crypto market at least they realize many things exist in this industry. Alts is not in a hiding place and everything can be found in every exchange and it is an inevitable reality, everyone has their own way of earning crypto so you should be aware of these differences.

Cvetik56

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Quote from: ArIMy11 on February 26, 2020, 11:08:56 AM

Quote

99% of the world's population still does not understand, do not know and do not trust Bitcoin. And everything is fine. Bitcoin adoption is a lengthy process that may take decades or centuries to happen.

That is right because most of the people I encountered thinks that bitcoin is a networking or worst scam. But I have talked to someone whom I cannot judge up to extent he knows about bitcoin. He knows how to mine. He said he will used raspberry pi in mining then I told him how I am earning crypto and he said "posting quotes". Hmm, I do stopped and think that he does not know about this thing. Maybe he knows trading and mining and thats all. Looks like he does not know alts too.

I do not spend my bitcoin because my target for this year is to earn more bitcoin and if there will be a chance that bitcoin price will rise up again, I will sell those I have saved and continue to get some more bitcoins and other cryptos.

Unfortunately, humanity isn't evolved enough to keep up with fresh and valuable info all at once. It takes time to seize everyone's attention and reliance step by step

ArIMy11

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Quote

99% of the world's population still does not understand, do not know and do not trust Bitcoin. And everything is fine. Bitcoin adoption is a lengthy process that may take decades or centuries to happen.

That is right because most of the people I encountered thinks that bitcoin is a networking or worst scam. But I have talked to someone whom I cannot judge up to extent he knows about bitcoin. He knows how to mine. He said he will used raspberry pi in mining then I told him how I am earning crypto and he said "posting quotes". Hmm, I do stopped and think that he does not know about this thing. Maybe he knows trading and mining and thats all. Looks like he does not know alts too.

I do not spend my bitcoin because my target for this year is to earn more bitcoin and if there will be a chance that bitcoin price will rise up again, I will sell those I have saved and continue to get some more bitcoins and other cryptos.

imstillthebest

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Quote from: onrise on February 25, 2020, 01:45:35 PM

Quote from: Jeremy Franklin on February 25, 2020, 09:30:47 AM

Quote from: schmidtjens3 on February 10, 2020, 05:42:22 AM

I agree, Bitcoin is not a cryptocurrency imo, its a cryptoinvestment.
its like gold. you hold it to have an investment. you could go buy something with gold (some stores should accept it), but not many people would do it because the value could be higher a few days later.

so, cryptoinvestment, not cryptocurrency imo

You got a point on this one. I would never use my Bitcoins currently and spend them for anything right now. They are safe in my wallet for the next years and are a long-term investment. Why would you spend them now, if you trust the tech and you are sure that they will be worth more in near future. That makes absolutely no sense. In addtion to that transaction costs are currently high and it makes no sense from that standpoint to spend them anyway.

For people who are long term and not going to use it then better to store offline rather than saving it in wallets or on any exchanges for the safety purpose . I also prefer to save it and not sell when the markets are falling and intact when their is a fall in prefer to buy more and may be if require some money sell during highs at times .

this is the mistake of a long term hodlers that they prefer storing online . they can afford to buy and hodl but they dont take time to set up or buy an offline wallet .

not unless if they can accept the risk that entails with storing cryptos online . on the other hand , cryptos are not really an investment . call it hybrid investment slash currency would be better . i use my crypto for both purpose . i dont really hodl for too long but i also sell it when i need money

onrise

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Quote from: Jeremy Franklin on February 25, 2020, 09:30:47 AM

Quote from: schmidtjens3 on February 10, 2020, 05:42:22 AM

I agree, Bitcoin is not a cryptocurrency imo, its a cryptoinvestment.
its like gold. you hold it to have an investment. you could go buy something with gold (some stores should accept it), but not many people would do it because the value could be higher a few days later.

so, cryptoinvestment, not cryptocurrency imo

You got a point on this one. I would never use my Bitcoins currently and spend them for anything right now. They are safe in my wallet for the next years and are a long-term investment. Why would you spend them now, if you trust the tech and you are sure that they will be worth more in near future. That makes absolutely no sense. In addtion to that transaction costs are currently high and it makes no sense from that standpoint to spend them anyway.

For people who are long term and not going to use it then better to store offline rather than saving it in wallets or on any exchanges for the safety purpose . I also prefer to save it and not sell when the markets are falling and intact when their is a fall in prefer to buy more and may be if require some money sell during highs at times .

Gheka

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Quote from: tvplus006 on February 24, 2020, 04:49:32 AM

Quote from: xen1oph on February 10, 2020, 09:14:29 AM

It seems to me that it makes sense to just keep bitcoin for now. The market should go up, so it’s more rational to store bitcoins before they grow, and only then you can do something with them

If you use bitcoin as a long-term investment, then you must have funds that will allow you to cover your daily expenses. But if for you, earning in cryptocurrency is the main source of income, then you will have to spend bitcoin, regardless of its current price.

Indeed, if our living costs rely on bitcoin and crypto, we are forced to convert into cash to spend at whatever price bitcoin is reaching, there is never a second option in this case, and so probably few people rely on crypto to get their main income, almost everyone always has a stable job before engaging in bitcoin, bitcoin is just an investment aspect to create a passive income stream and potential in the future. Spending bitcoin is never a job that is encouraged but I don't understand why some people here often suggest, maybe they want to lead newbie into the trap

Jeremy Franklin

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Quote from: schmidtjens3 on February 10, 2020, 05:42:22 AM

I agree, Bitcoin is not a cryptocurrency imo, its a cryptoinvestment.
its like gold. you hold it to have an investment. you could go buy something with gold (some stores should accept it), but not many people would do it because the value could be higher a few days later.

so, cryptoinvestment, not cryptocurrency imo

You got a point on this one. I would never use my Bitcoins currently and spend them for anything right now. They are safe in my wallet for the next years and are a long-term investment. Why would you spend them now, if you trust the tech and you are sure that they will be worth more in near future. That makes absolutely no sense. In addtion to that transaction costs are currently high and it makes no sense from that standpoint to spend them anyway.

Subbir

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Quote from: AitorMarcos on February 24, 2020, 09:38:32 AM

Quote from: kesmex on February 10, 2020, 02:25:02 PM

Quote from: xen1oph on February 10, 2020, 09:14:29 AM

It seems to me that it makes sense to just keep bitcoin for now. The market should go up, so it’s more rational to store bitcoins before they grow, and only then you can do something with them

why does it make sense? the price has gone up to $ 10k it looks like this is a signal to sell, I've sold it at $ 10k, and now the price is 9800, maybe this correction will determine the direction of bitcoin again

It doesn't make sense, but for another good reason. You can't really spend bitcoin, but you can sell it for usd and than spend it.
By that I mean - bitcoin is technically a currency, but in fact its an investment option.
You barely can live off of bitcoin

Apart from surviving you only said that bitcoin may be a blast to carry on the worth of Bitcoin has risen above ever And now you've got to undertake to stay it for a short time without having to fool around selling it this is often likely to be above current prices later this year.

Jateng

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Many bitcoin investors are already put their money in the hands of it and some traders gained money because of it's fluctuation. If you want to risk and make more bitcoin probably you will sell it in high price then wait in low price and buy again. Sometimes we need to spend it especially when we need it, it's a currency. I think it's normal thing. We need to spend it in order to develop and make people know that it's a new kind of currency making the price of it in the marker goes high.

bearexin

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Consider the fact that this topic was created in October 4th and now at 20+ page already, we can see that the topic hasn't really changed all that much. The sentiment is that bitcoin could be "spent" if you want to, or hold, but do not sell it. When enough people actually earn and spend instead of buy and sell we will see that not that money go out of bitcoin world anymore since there are less people selling it instead of spending it.

When less money goes out of bitcoin market that means there will be same amount of money (or maybe even less) go into bitcoin which will cause the price to go up as well. Bitcoin was actually meant to be spend when created, instead of selling it, not for holding it forever. In order to make bitcoin more worthy of a currency, we need to increase the earn/spend levels.

AitorMarcos

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Quote from: kesmex on February 10, 2020, 02:25:02 PM

Quote from: xen1oph on February 10, 2020, 09:14:29 AM

It seems to me that it makes sense to just keep bitcoin for now. The market should go up, so it’s more rational to store bitcoins before they grow, and only then you can do something with them

why does it make sense? the price has gone up to $ 10k it looks like this is a signal to sell, I've sold it at $ 10k, and now the price is 9800, maybe this correction will determine the direction of bitcoin again

It doesn't make sense, but for another good reason. You can't really spend bitcoin, but you can sell it for usd and than spend it.
By that I mean - bitcoin is technically a currency, but in fact its an investment option.
You barely can live off of bitcoin

Topic: Don't spend bitcoin. Not now. (Read 3752 times)