Hoarding Vs. Spending - page 4. | Bitcointalksearch.org

uMMcQxCWELNzkt

sr. member

Activity: 406

Merit: 250

True, both spending and hoarding(saving) can be done at the same time and would levitate some of the pressure. I think the best way to encourage spending would be if employers started making payments in Bitcoin, the fact that I dont get a regular flow of BTC like I do with FIAT kind of makes every day purchases more cumbersome.

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Do we agree hat this long term hoarding mentality is our there though, and is a problem worth addressing?

If so then perhaps simple things like mentioning your saving wallet & spending wallet in talks as separate entities would help, this would create a slight psychological division in other users minds that their own wallet can have multiple uses. I am not eliminating the fact I am the only one who has not applies this common sense logical to my Bitcoin usage.
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keatonatron

sr. member

Activity: 308

Merit: 250

Jack of oh so many trades.

Birdy is right.

You can always buy more coins. And if the price is somewhat stable, it makes it easier to replace coins you've sent at a later day.

Also, you could keep a BTC savings and buy new coins whenever you need to make a transaction, instead of using your stash and kicking yourself when the price goes up a bit the next day Cheesy

skull88

hero member

Activity: 683

Merit: 500

The smartest thing to do imho is, spend some and save some.
You can for example, keep a certain amount in a savings wallet (secure offline) and also have a spending wallet.

Birdy

sr. member

Activity: 364

Merit: 250

The only thing you need to do is to instantly rebuy the coins you want to spend.
The problem is that buying them is a hassle.

uMMcQxCWELNzkt

sr. member

Activity: 406

Merit: 250

To open this discussion up I would like to ask, does Bitcoin's long term success depend of users spending/buying (goods, services, etc...) with the currency?

If the answer is yes, which I believe so then how do we overcome the following dilemma? I often notice posts from users who believe in Bitcoins long term potential, yet they follow the sentiment by suggesting that they are hoarding the coins as a result, for when they are worth $xxxx amount. I am personally guilty of this too, it is difficult enough for me to get Bitcoins in the UK, that subsequently I am also fairly hesitant towards spending them. I realize the market is new, commerce channels will slowly improve with new Bitcoin related features. The question is, do we need to start spending our Bitcoins before the ball starts to gain any real momentum?

Perhaps this is one of those catch 22 situations:

Bitcoin users waiting for Bitcoin to go mainstream before spending...
Bitcoin waiting for Bitcoin users to start spending before implementation into mainstream infastructure...

Topic: Hoarding Vs. Spending - page 4. (Read 4168 times)