Don't spend bitcoin. Not now. - page 11.

clickerz

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Quote from: Karmakid on December 06, 2019, 09:45:15 AM

If you are going to spend bitcoin, spend your bitcoin to grow it into a bigger one and do not spend it on useless things. The price of bitcoin is an indicator that we should be smarter in spending our bitcoin because it will become a loss if we will spend it without having any benefit or return. Use your bitcoins to buy altcoins so you have a chance to make more bitcoins as the market becomes bigger.

As possible I don't want to spend my if not really need. We know that it's just a matter of time and we will be having a halving next year. If ever, I accumulate if I have extra funds. Now is a good time to add BTC in your stash, since the price is quite shaky.

bitcoin_paypal

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The best time to spend btc is always not now but people shouldnt be too greedy

Landak

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depending on the conditions and who the person is, there are those who use bitcoin as a source of income and some consider it an investment. if it is considered as a source of income it means that his bitcoin will not always be in the wallet (spent), different if it is considered as an investment. well, I belong to these 2 categories, if it is indeed needed I will definitely spend all of my bitcoin, but if there really is more definitely I set aside for investment and will not spend it (hold).

Fappanu

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But we can't prevent people from using their bitcoin because "bitcoin" can also be an investment and profit making everyday. I also can't avoid using my bitcoin as it is the main source of my income that I need for my daily needs.
So there is nothing we can do here and all we can do is wait for the right moment and make sure we have hold bitcoin because we will see the regret here.

monineklutak

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Quote from: Savemore on December 06, 2019, 06:56:40 AM

Quote from: AniviaBtc on December 06, 2019, 05:36:18 AM

Quote from: LeGaulois on October 04, 2019, 02:19:51 PM

That's a little ridiculous thinking. So you suggest to not spend Bitcoin until it becomes trusted enough.

If no one uses Bitcoin, how do you want the ecosystem to develop? If there is no ecosystem people won't get interested in and Bitcoin may become a currency like the currency for Second Life (the video game (?) with its currency, not sure if I'm right)

The dollar is based on trust, the day people no longer trust, USD will become the new Zimbabwe dollar, yes it's a fact but if Bitcoin needs to earn people's trust, it can't just happen without doing anything.

Maybe that will happen, but those who did it literally are dumb people. It doesn't mean that don't spend now, you will not spend it in any necessary thing. That will really make you poor and ridiculous.

Too much spending is the wrong doing which is this thread is all about. So that's not my point, using bitcoin WISELY while waiting for it to rise again is a good strategy. Minimize your spending for your own necessities and not on your wants.

However, it will still help for the promotion of bitcoin and earning the trust of the people based on how you use it.

You cannot say that they are dumb people, there are people who using bitcoins in their daily lives and there are also people who holding their bitcoins. Those people who spending are the one who using the advantages and function of the bitcoin, maybe they using bitcoin for them to survive in their daily lives like what happened in Venezuela where their fiat money doesn't now have value anymore.

is it true that fiat money in venezuela has no value anymore ?, reportedly they made PETRO crypto currency ?,
but until now I have not seen PETRO in exchange and coinmarketcap

Shasha80

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That's right don't spend bitcoin right now if you don't want to lose the chance to get a big profit. My suggestion is better
for now we hold bitcoin that we have, because halving will occur in May 2020. If you spend bitcoin now it's very unfortunate
because the price of bitcoin is still very low now. It's better if you want to sell bitcoin after halving is finished or sell in 2021,
because surely the price has gone up. According to my prediction, the minimum bitcoin price might return to the price of
$ 20,000. So we have to be more patient to hold bitcoin now.

FlightyPouch

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Quote from: xen1oph on December 05, 2019, 11:01:26 PM

I completely agree with this, so I think the same. But many people don't understand this. And even when you tell them about it, they still don’t want to listen to you..

What? bitcoin is circulating on the internet for 10 years now and you will agree that it should be spent when it earned its rightful trust? I don't get it. People are earning a lot of money in these crypto currencies, that is not just a handful of people but a lot of people. You are saying that it won't be spent as long as it is trusted, it can be but it should be moderated since we don't know when to get a profit or not.

Karmakid

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If you are going to spend bitcoin, spend your bitcoin to grow it into a bigger one and do not spend it on useless things. The price of bitcoin is an indicator that we should be smarter in spending our bitcoin because it will become a loss if we will spend it without having any benefit or return. Use your bitcoins to buy altcoins so you have a chance to make more bitcoins as the market becomes bigger.

Savemore

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Quote from: AniviaBtc on December 06, 2019, 05:36:18 AM

Quote from: LeGaulois on October 04, 2019, 02:19:51 PM

That's a little ridiculous thinking. So you suggest to not spend Bitcoin until it becomes trusted enough.

If no one uses Bitcoin, how do you want the ecosystem to develop? If there is no ecosystem people won't get interested in and Bitcoin may become a currency like the currency for Second Life (the video game (?) with its currency, not sure if I'm right)

The dollar is based on trust, the day people no longer trust, USD will become the new Zimbabwe dollar, yes it's a fact but if Bitcoin needs to earn people's trust, it can't just happen without doing anything.

Maybe that will happen, but those who did it literally are dumb people. It doesn't mean that don't spend now, you will not spend it in any necessary thing. That will really make you poor and ridiculous.

Too much spending is the wrong doing which is this thread is all about. So that's not my point, using bitcoin WISELY while waiting for it to rise again is a good strategy. Minimize your spending for your own necessities and not on your wants.

However, it will still help for the promotion of bitcoin and earning the trust of the people based on how you use it.

You cannot say that they are dumb people, there are people who using bitcoins in their daily lives and there are also people who holding their bitcoins. Those people who spending are the one who using the advantages and function of the bitcoin, maybe they using bitcoin for them to survive in their daily lives like what happened in Venezuela where their fiat money doesn't now have value anymore.

AniviaBtc

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Quote from: LeGaulois on October 04, 2019, 02:19:51 PM

That's a little ridiculous thinking. So you suggest to not spend Bitcoin until it becomes trusted enough.

If no one uses Bitcoin, how do you want the ecosystem to develop? If there is no ecosystem people won't get interested in and Bitcoin may become a currency like the currency for Second Life (the video game (?) with its currency, not sure if I'm right)

The dollar is based on trust, the day people no longer trust, USD will become the new Zimbabwe dollar, yes it's a fact but if Bitcoin needs to earn people's trust, it can't just happen without doing anything.

Maybe that will happen, but those who did it literally are dumb people. It doesn't mean that don't spend now, you will not spend it in any necessary thing. That will really make you poor and ridiculous.

Too much spending is the wrong doing which is this thread is all about. So that's not my point, using bitcoin WISELY while waiting for it to rise again is a good strategy. Minimize your spending for your own necessities and not on your wants.

However, it will still help for the promotion of bitcoin and earning the trust of the people based on how you use it.

GideonGono

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Then the question would be: when is the right time? I mean it was made as mentioned as a P2P system in doing transaction which technically serves as a currency but Bitcoin’s price always shoots up then would we never use it as a payment but rather just hold it. You can save Bitcoin just like real money as your savings whilst spending it when necessary. It should act us a currency for it to gain popularity and be integrated easily at our monetary system all around the world.

xen1oph

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I completely agree with this, so I think the same. But many people don't understand this. And even when you tell them about it, they still don’t want to listen to you..

Cherylstar86

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Quote from: drlukacs on December 05, 2019, 01:31:58 PM

Quote from: lbassotto on October 04, 2019, 02:25:12 PM

Quote from: LeGaulois on October 04, 2019, 02:19:51 PM

That's a little ridiculous thinking. So you suggest to not spend Bitcoin until it becomes trusted enough. If no one uses Bitcoin, how do you want the ecosystem to develop? The dollar is based on trust, the day people no longer trust, USD will become the new Zimbabwe dollar, yes it's a fact but
if Bitcoin needs to earn people's trust, it can't just happen without doing anything.

I believe this is not a ridiculous thinking. You must observe to all main bitcoin use cases. People in Venezuela use Bitcoin because their currency is completely devastated. So pepple believe in gold or bitcoin. You can see the same behavior in Zimbabwe too.

Hold bitcoin is one of the smartest things right now. You see, alts are stable and nothing has grown, which shows that the market is ignoring it and no longer trusting alts. This is the right time for you to sell all the alts to accumulate in bitcoin and hold it. You will not regret it because when you follow the crowd at the right time, you will soon get rich quick. because if you are going against the trend of the market now, buying junk alts, then I am sorry, that is the worst strategy.

At first place we all know bitcoin is a dominant crypto currency in which it is the most popular in the world of crypto currency community. I definitely agree that holding a bitcoin is the best way to do nowadays since the value is so cheap and many crypto enthusiasts will but on it and I believe soon it will increase tremendously in the future.

DevilSlayer

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Quote from: drlukacs on December 05, 2019, 01:31:58 PM

Quote from: lbassotto on October 04, 2019, 02:25:12 PM

Quote from: LeGaulois on October 04, 2019, 02:19:51 PM

That's a little ridiculous thinking. So you suggest to not spend Bitcoin until it becomes trusted enough. If no one uses Bitcoin, how do you want the ecosystem to develop? The dollar is based on trust, the day people no longer trust, USD will become the new Zimbabwe dollar, yes it's a fact but
if Bitcoin needs to earn people's trust, it can't just happen without doing anything.

I believe this is not a ridiculous thinking. You must observe to all main bitcoin use cases. People in Venezuela use Bitcoin because their currency is completely devastated. So pepple believe in gold or bitcoin. You can see the same behavior in Zimbabwe too.

Hold bitcoin is one of the smartest things right now. You see, alts are stable and nothing has grown, which shows that the market is ignoring it and no longer trusting alts. This is the right time for you to sell all the alts to accumulate in bitcoin and hold it. You will not regret it because when you follow the crowd at the right time, you will soon get rich quick. because if you are going against the trend of the market now, buying junk alts, then I am sorry, that is the worst strategy.

But for me it is not good decision to hold our bitcoins in a long time. Like right now, the bear market is still occuring and the price of the bitcoin is gradually decreasing. The smartest way to hold if you buy at the bottom. But it is risky and there are only few trading setups in counter trend strategy that have high winning rate. I will hold bitcoins if I can buy at the bottom or in the dip.

drlukacs

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Quote from: lbassotto on October 04, 2019, 02:25:12 PM

Quote from: LeGaulois on October 04, 2019, 02:19:51 PM

That's a little ridiculous thinking. So you suggest to not spend Bitcoin until it becomes trusted enough. If no one uses Bitcoin, how do you want the ecosystem to develop? The dollar is based on trust, the day people no longer trust, USD will become the new Zimbabwe dollar, yes it's a fact but
if Bitcoin needs to earn people's trust, it can't just happen without doing anything.

I believe this is not a ridiculous thinking. You must observe to all main bitcoin use cases. People in Venezuela use Bitcoin because their currency is completely devastated. So pepple believe in gold or bitcoin. You can see the same behavior in Zimbabwe too.

Hold bitcoin is one of the smartest things right now. You see, alts are stable and nothing has grown, which shows that the market is ignoring it and no longer trusting alts. This is the right time for you to sell all the alts to accumulate in bitcoin and hold it. You will not regret it because when you follow the crowd at the right time, you will soon get rich quick. because if you are going against the trend of the market now, buying junk alts, then I am sorry, that is the worst strategy.

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Quote from: lbassotto on October 04, 2019, 01:37:27 PM

Bitcoin was not made to spend. Not for now. There is a misinterpretation of what Satoshi wrote in the Whitepaper: "A peer-to-peer eletronic cash system". He created bitcoin to be an electronic money system. This is a fact.

Before becoming a monetary system, Bitcoin must be able to preserve value over time. After that, he becomes able to earn society's trust and become a genuine cash.

People accept dollars because they believe that money is still backed by gold (as it was until the end of Bretton Woods), or because (unfortunately) they believe the government will guarantee the value of the currency.

That is, people believe in Dollar because they are sure that money will be at the same value tomorrow. Although this is not true.

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.

Bitcoin has never been about just being a simple means of payment. It is not like VISA or Mastercard. He is a legitimate Digital Asset and as such needs to earn trust until it is adopted as money.

Do not spend your Bitcoins. Not now.

yes you're right we can't spend our bitcoin just to shop. because bitcoin is an asset that can grow and experience price increases in the future. but if everyone thinks like this there will be no movement on bitcoin and this will make bitcoin die. I think the use of bitcoin as a means of payment is also important so that bitcoin continues to grow and can be adopted en masse. when bitcoin usage increases, demand will also increase and can make bitcoin prices go up.

daarul50

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Quote from: Polar91 on October 25, 2019, 03:19:09 AM

Quote from: ePesoInitiative on October 23, 2019, 07:37:25 PM

If you spend your bitcoins now, you might regret it soon. The selling has been non-stop since reaching $13,000 and it seems that the market is very oversold, yet no sign of stopping. However, if you spend it now, maybe next week or the week before that, the price may gain 50%.

You can spend your Bitcoin now if you really need it specially if it's an emergency needs however it's not how it should be spent. Although keeping it can benefit you whenever it gains value to the market, it doesn't guarantee a sure profit thus it's still a gamble in my opnion. Keeping Bitcoin should be a spare money thus you can benefit from its ups and downs.

i am not sure if it is wise action to put all fund you have in bitcoin.

since you are mentioning that "in case emergency , you can spend it"
if you only put the free money in bitcoin , there is nothing called "in case emergency scenario" , you will just holding your bitcoin as long as possible and about spending bitcoin , you can exchange your fiat directly to bitcoin and spend it directly too. pretty simple right?
i can not see any disadvantage by holding bitcoin for long time if only you really know the risk and really know the money you put in there as something that othing to lose but a really long term investment.

spend bitcoin anytime , hold it all the time.

EdenHazard

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Quote from: AicecreaME on October 29, 2019, 10:14:41 AM

Quote from: EdenHazard on October 29, 2019, 09:36:24 AM

Too late ...
I've spent 0.15 bitcoin monthly back in 2014 to pay internet bills worth $60 for around 5 to 8 months i guess if I'm not mistaken.
Always feeling blue when I look back and see these transactions made by me , my internet bill worth $1,500 at the current bitcoin price damn it was a real deep regret I ever feel.

I don't get it, what is so regretful about spending your bitcoin on things that you are obligated to pay or buy, if you didn't spend that 0.15 bitcoin for your internet bill, would that make you happy? (your internet would be long gone by now), and you don't have to compare the prices of bitcoin before and its price right now, that doesn't make any sense at all.

It will only be regretful if you spend it on some bullshits and nonsense things that doesn't help you survive your everyday life in this world, just keep earning.

You don't get it as you don't know how it feels for real feel like wasted too much money in the past due the bitcoin price changes drastically! I won't complain anything if the changes just a couple bucks but it was too much, too much pain in my shoulder everytime I compare the current and past value.

I was bought a car for 800 ethereum too worth $16,000 as that time 1 ethereum was only $20 , tell me how could not hurt is that? Realizing today ethereum value is $200 each even touched $1,000 ... I supposed riding a lambo right now instead a regular BMW.

I should save it more and spend less , bitcoin as a currency to spend in daily basis seems not fit at this point.

clickerz

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Quote from: EdenHazard on October 29, 2019, 09:36:24 AM

Too late ...
I've spent 0.15 bitcoin monthly back in 2014 to pay internet bills worth $60 for around 5 to 8 months i guess if I'm not mistaken.
Always feeling blue when I look back and see these transactions made by me , my internet bill worth $1,500 at the current bitcoin price damn it was a real deep regret I ever feel.

Quote from: BartS on October 28, 2019, 11:23:02 PM

Quote from: ePesoInitiative on October 23, 2019, 07:37:25 PM

If you spend your bitcoins now, you might regret it soon. The selling has been non-stop since reaching $13,000 and it seems that the market is very oversold, yet no sign of stopping. However, if you spend it now, maybe next week or the week before that, the price may gain 50%.

You were close, the price of bitcoin increased something like 35% in a very short amount of time but since then it seems like the positive movement of bitcoin has stopped for some reason.

It is still not clear to me what will happen, if the price can close above 10k then we could see a huge FOMO forming but if this does not happen during the next weeks then it could be possible for the price to go down once again and for the market to turn bearish once more.

A lot of people thinks that the support level now at $8,000/$7,500 and the resistance at $10k/$11k ... doesn't makes sense for me , it's clearly a temporary pump as the china to support blockchain project was just a hype , mark my words.
No more skyrocketing overnight at least till next year. You guys need to lowering your expectations on this.

Yeah, I think now that bitcoin gains almost 16 - 36% last couple of days,maybe you can take your profit. You can sell now half of your holdings if you have profit and observed the market movement. If price go for correction then wait for the right entry and buy back at lower price.

Triffin

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Quote from: ice098 on October 29, 2019, 11:41:06 AM

Quote from: Ayiranorea on October 29, 2019, 11:12:53 AM

Don't spend bitcoin, this is mentioned based on the growth happening with bitcoin. In reality for a better and bigger move forward there is a need for direct spending of bitcoin. As of now the usage is very limited, and priority is given as an investment. Somehow there is circulation happening around, and in future we can expect the spending to happen much more than the present leading to its perfect use as an alternate to fiat transactions.

Yes, circulation is the main thing. If people will hoard and hoard bitcoin,it can affect the whole circulation of it. The demand will goes up while the supply is limited. We never know if it will make the price goes up or it wi goes deeply down. We need to spend bitcoin like any other coins and altcoins.

You are right that circulation is necessary for the better future of bitcoin as the demand and supply will become balance from the circulation, but I think here ‘not spending bitcoin’ does not mean to hoard it, it actually means that we should not spend all of our bitcoin because the price is going up so we should have to think about our future, many people has considered their investment an asset for the future profit.

Topic: Don't spend bitcoin. Not now. - page 11. (Read 3809 times)