Topic: HODLers, spend your BTC - page 2. (Read 817 times)

People sure do act like it is. Just watch the news or go to a grocery store.

Do you remember any other instance where cinemas, pubs, shopping centres and restaurants were being closed all over the world for more than a day?

Even though it's not the end of the world it's still the worst situation since Bitcoin was invented.

There are a lot of people holding their coins because they think they can get a lot of market income or profit is they hold their coins because they know the crisis is happening in the world of crypto but this is wrong because the market price of the bitcoin does not circulate properly and it may cause of pulling down rapidly the market price or the bitcoin even the halving is coming we need to make sure it is rapidly growing and giving a good market price soon and this is the right time to make more earnings still we need to focus to the current event to survive first than your making earnings.

Buying on a peak price is too risky, so better to plan on your next trade or buy now to get back your losses. Hodlers can spend their bitcoin base on their timeline, we cannot force them to do it right now. Diversification is a must, and I’ve learned a lot from the current situation, we should have an emergency fund to buy our basic needs or even to buy bitcoin again when it becomes more cheap, the best to make profit is to buy when there’s a big panic.

People need to.decide for themselves what to do. Every Bitcoin user has different goals and different reasons why he's dealing with Bitcoin at first place.
For me the best option is combination of holding and spending.
I think that Bitcoin was created with purpose to be used in real life for real things, that is why isn't good just to keep it in some wallet indefinetely.
On the other hand by holding Bitcoin on longer period of time you have chances for further profit and also it can be used as savings, so the balance between holding and spending is the key.

I am tired become holder bitcoin and altcoin because buy with higher price and have to sell with lower price, I think its not good way how to get much profit with bitcoin and altcoin, then I know selling as soon possible when coin listed on market is the best solution and take much profit.

We can't really predict what will happen in the coming months or years, still the bitcoin is in a low price compared last last month and it is unexpected. Also this virus destroyed all of the economy of the countries affected by the virus, their stock market really crashed brought by this pandemic. It is still a question, how countries will recover all their losses economically and physically after this virus ends soon?  It is hard to accept the fact that people are losing their lives because of financial problem that they are facing together with the health problems that the virus can do to their health. We really need to be practical this time, we should spend our money wisely so that people will benefit from it, a little help will do.


That's why you need to do exchange so that you will convert it into fiat, but if it doesn't required so use P2P. In doing P2P you should know the person so much, so that you will prevent being scammed. Converting your bitcoin is necessary most especially if it is for the sake of your own health and family. You need to buy your necessities to fight this virus as this quarantine is continuously active for several weeks or months, we don't know how long this will last.

You say several? Have you ever bothered to look at how much that actually is in numbers? Definitely more than 1000, and if you don't believe me, check out the following link : https://spending-bitcoin.com/

I also don't see why anyone would stop receiving BTC during this world crisis, because the emphasis is on using as little as possible fiat, and paying with cards or BTC.


BTC has always been volatile, you can't just change it because you do not like it. You always have the choice to use it however you want, or to find something less volatile.


If you meant holders, then you should know that they believe in BTC, how they can think BTC has failed? This topic is (as many others) attacked by hardfact troll, so next time check option "Self moderated thread" so you can delete any post. There is also a option to lock this thread.

If you really don't have any means of acquiring BTC then I think it is reasonable for you to buy using fiats though. But in return, you can actually sell your BTC for goods and services to make sure that you're giving BTC a value it deserves other than converting it back to fiat and making it stuck to its fiat conversion rates. Right now, we are still in a massive start of influencing people about bitcoin, and if there's no mean for us to make it possible, let fiat help us, I'm pretty sure many will recognize its true worth in times like this, when fiat cash might be less valuable.

Most especially if you really need money during this Covid-19 pandemic, you should your bitcoin as a fiat because you have nothing to support for you family. As this quarantine is still continuing, you can't go to work because of the safety that the government wants you to achieve. Holding bitcoin for so long and not using it properly are for those who are greedy and afraid to lose their money. Yes, it is true that the reason why you invest your money in crypto is for the growth of you future without assurance. Bitcoin is volatile and every bitcoin holders know that, and that's the reason why wise holder uses some of its bitcoin so that he have something to use for as he can work to have a salary. Prioritize your health and your family first before this bitcoin.

+1 here because Holding is enough time to make currencies circulate again and established another High value while Hoarding prevent the market from growing again so lets support Hodlers and discourage Hoarding because this is not helping the market and the community.
and this is why we much need Bitcoin ?

What vulnerabilities does crypto suffer from? That it can't be printed out of thin air by the government? That it can't be rapidly devalued, causing huge losses to the average person so the government can bail out some multi-billionaire banks, airlines, restaurant and hotel chains, etc. Sounds pretty good to me.

The US is in a terrible position. Going in to 2008 the Fed had a relatively small balance sheet of around $900 billion, and interest rates were at 5.5%, giving plenty of scope for them to be reduced. Going in to this recession, which is likely to be more severe than 2008, the Fed already have a balance sheet of well over $4 trillion because they haven't been able to reduce at all in the last 12 years, and interest rates are already at 0%. Add to that a growing national debt and a growing budget deficit. The dollar's value has been on a steady decline for over 100 years. This will only accelerate it.

I think that there is a difference between holder and hoarder, holders are waiting for the right time to spend it while hoarders tend to hold on and not spend a satoshi for some transactions, the problem is not the holders but the hoarders.

In my view as a bitcoin holder, it's not easy to spend bitcoin. The limited number of merchants is the first reason, next in conditions
like this that everyone is panicking because the spread of the corona virus will not spend the bitcoin they have. So the conclusion is
not a good idea to spend bitcoin in conditions like this, I also do not intend to spend the bitcoin I have. But I prefer to hold the bitcoin
that I have until my selling target is reached.

What a FEEL GOOD FANTASY 

Most people buy and Hold BitCion because they want to get RICH, RICH, RICH.

Hard Facts

Can you give out some explanation on whats the difference among the two? Lol!  Just joking,. I know the feels the positiveness inside you when it comes to bitcoin adoption and people or the community should really use it for it to circulate but thats not the case on what happening now and we all know that vast or majority of people now are holding.Why? they do come after with the profits that it can give rather than on its usage but somewhat we are seeing its application on some services or businesses that do accept btc which is good but talking about on on spending it actively? Im sure that wont be possible for most people.

1.   You posted your topic in a forum with a lot of users, what did you expect, that everyone to agree with you ??      You seriously expect to have your " Safe Space " here, and that everyone would tell you how great you are and make you feel good ??

2.   Your suggestion, and recommendation is a BAD IDEA, for the reasons outlined in previous responses.  Stop living in Fantasy land, the idea of BitCoin as everyday currency for common transactions was abandoned YEARS AGO, it is not going to happen.

Hard Facts

Good advice. However, it should also be considered that the limited adoption makes it difficult to use bitcoin as a daily necessity, more effective when exchanged with fiat first. In a crisis like this, the most important thing is to hold fiat as an effort to deal with emergencies. On the other hand we also have to keep trying to get income, especially since the price of some cryptocuceerncies is at a low enough level and this is a good opportunity to fill bags. It is great for holders to continue to make certain and continuous purchase of assets such as the Dollar-Cost Averaging (DCA) strategy. The key, we prepare an emergency fund and keep trying to invest by minimizing the smallest possible risk, especially since the market movement is very extreme.

I'm the topic starter. Some considerations:

1. This topic is targeted at HODLers. If you are a non believer or if it's your understanding that Bitcoin has failed, that's fine. But fight your wars in their appropriate topics. Don't hijack this one.

2. My post is a suggestion. That's why I used the words "consider this", "I want you to" and "my recommendation". What you do with your money is up to you.

3. I did not say stop hodling. I suggested to exchange fiat for bitcoin (buy more BTC) and spend it. You can do both hodling and spending.

For example:

You are hodling 10 BTC.
You buy 1 BTC more and spend 0.5 BTC for buying food and stuff online.
You bought 11 BTC in total and are now hodling 10.5 BTC.

Essentially you will be buying more bitcoin, which drives the price up. If all hodlers do this, it will have an impact on the price. That's the knowledge I wanted to share. Think about it.

I know some merchants will exchange your bitcoin back into fiat, but not all do that. Those who do will regret at some point.

More demand for Bitcoin as a payment method will create more supply. Merchants will be quick to accept Bitcoin if enough people are going to a competitor for this reason.

It takes some effort (exchanging fiat, finding places to spend) but it will help Bitcoin a lot if we all do this.

You are correct, and your friend is a COMPLETE FOOL.  When the inflation starts, make sure you tell him what a total idiot he was for supporting the destruction of the country.

VENEZUELA, ZIMBABWE, ARGENTINA, the list is endless.   This kind of printing ALWAYS ends in hyperinflation, and NONE of these countries started out with the intent of destroying their countries and economies, but they did not know when to stop printing....

BitCoin has FAILED as a currency for common daily purchases, that has been known by the vast majority of people for years now.  Do not live in a FANTASY, you seem smart in some things, so keep informed and never stop learning.

Hard Facts

USA is going to print 2 trillion dollars for bailouts:

https://www.boston.com/news/politics/2020/03/26/senate-approves-2-trillion-stimulus-after-bipartisan-deal

A lot of this money is going to debt, debt, and more debt.