HODLers, spend your BTC - page 3. | Bitcointalksearch.org

20kevin20

legendary

Activity: 1134

Merit: 1599

A crisis isn't coming. It's already here. We're in the first few stages of it and it's going to look very bad. If we're already having problems of losing our jobs and price inflation, then imagine what's to come.

I'm honestly one of those who just cannot spend their BTC. I have tried to, but I either hit the "I'd rather hold" wall or I don't have where to order from. Being completely anti-centralization makes everything even harder - now there's no way I can buy any BTC through ATMs anymore and I would rather not buy at all than register on some shitty KYC-abusive exchange. And even if I ordered from somewhere, I'm really concerned right now that it might not arrive anymore.

If you have places to spend your BTC and are ensured that your stuff will arrive, then go for it. Try to create a circuit, some way to use your BTC and then get it back. Try to make the sats circulate around while you still can.

Twentyonepaylots

sr. member

Activity: 1960

Merit: 370

Quote from: Lucius on March 31, 2020, 05:44:21 AM

As a BTC holder I can say that it is necessary to find a certain balance between a long-term investment and using BTC as the currency for paying for goods and services. What actually prevents many to spend their BTC is the fact that they don't really have anywhere to spend (at least not locally), and if they decide to buy online from other countries they may face extra costs in the form of VAT and customs fees.

Long-term investment does not necessarily mean that you can sped it after a long time of storing it, not just as the term literally mean. Long-term investment has to do with perfect timing in pulling it out, as what you mentioned the balance. Atleast now we have several merchants that accepts bitcoin locally and internationally, it just so happened that we are facing a crisis right now and they are not operating. Crypto payments might be anywhere if people would come to agree that it is a alternative currency rather than just investment perhaps we'll see many markets that offer a crypto payment method more often.

Quote from: Lucius on March 31, 2020, 05:44:21 AM

BTC as a currency and store of value is something that can work, but everyone should contribute to that end.

Well having it as a currency and a store of value increases the risk from it's volatility. Just not a good idea for me.

kryptqnick

legendary

Activity: 3332

Merit: 1404

Join the world-leading crypto sportsbook NOW!

Quote from: o_e_l_e_o on March 30, 2020, 04:13:02 PM

Quote from: avikz on March 30, 2020, 02:25:43 PM

Banks won't fail. Governments will not let it fail.

And how will they do that? By bailing them out with more money they've printed out of thin air. That can't continue indefinitely.

Quote from: avikz on March 30, 2020, 02:25:43 PM

That wouldn't happen unless governments around the world steps up with such decision.

Nonsense. The whole point of bitcoin is to move away from a system where we rely on third parties, from a system where the government has control over our money. If we need government intervention to promote bitcoin, then bitcoin has failed at what it is supposed to be. Thankfully, bitcoin is doing just fine without any government help.

Speaking of banks, it's a question that concerns me. I've talked to my friend recently about Trump's idea of the $2 trillion financial package, and we both agreed that they'll be printed out of thin air. Where we disagreed is the outcome. I said I worry it might be too much, and since the US is already not in the best position with that debt to other countries plus the world economic crisis is saying 'hello' already, it can trigger an unexpected decrease of the dollar's value (meaning its purchasing power) or even lead to hyperinflation at some point. He believed it'll take years of printing money like this to make a 40% value decrease...
And as for Bitcoin and the government, I agree that we should not rely on the latter, but retailers need to offer where one can spend money because the current options are very limited and thus spending Bitcoin on essentials is next to impossible (at least, in my country).

HardFacts

member

Activity: 434

Merit: 29

Quote from: ?? on ??

Once the people loses confidence in the banks due to severe inflations and rate cuts, people will start to rely on safe havens such as Gold, silver or BTC.

BitCoin is NOT, NOT, NOT a safe haven... BitCoin price crashed in response to its first economic crisis, but when your balance goes way down just keep telling yourself it is not true Grin

You can not buy gold or silver anywhere, but you can still purchase all the BitCoin you want for 1/2 price Cheesy

Hard Facts

HardFacts

member

Activity: 434

Merit: 29

Quote from: sheenshane on March 30, 2020, 10:21:25 PM

Once it will be done and the pandemic will totally wipeout everything back to normal.

You are a COMPLETE FOOL

The ECONOMIC CRISIS is just getting started, and everything will NOT, NOT, NOT go back to normal. The economic crisis will last many years. Only a complete fool would not realize that we were in an economic bubble that has now popped. The economic crisis will be FAR WORSE then the corona virus, there will be no " back to normal ".

Hard Facts

rathaha10

full member

Activity: 616

Merit: 108

io.ezystayz.com

Quote from: SuprHodlr on March 30, 2020, 01:50:40 PM

I have a feeling the financial system might collapse. This can cause severe fiat inflation. So I decided to go Bitcoin only for my finances. I keep some fiat in the bank for paying bills. I'm a small business owner and I accept bitcoin as a payment method. It frustrates me that very few use it. But it makes sense people want to spend their devaluating fiat instead of promising bitcoin.

Haven't we all learned that bitcoin can't thrive as a stand alone currency? The various downtrends and fluctuating nature of bitcoin shows the entire world how it can't survive if global economy isn't flourishing. Every Cryptocurrency out there started dropping the moment the world started experiencing a global crisis and it's still in that state till hopefully the coronavirus pandemic got cured. When there is crisis, people will always choose FIAT over any cryptocurrency because of the various vulnerabilities associated with the use of cryptocurrency.

Now is the least time anyone should expect an increase or a bull movement in the price of cryptocurrency as everyone is trying hard to survive with no means of making new money as the entire world is getting shut down with each passing day. Hopefully, when the corona is over we might see a more stable market

Soft Lies

newbie

Activity: 7

Merit: 1

Quote from: HardFacts on March 30, 2020, 09:45:50 PM

Quote from: Darker45 on March 30, 2020, 09:17:47 PM

With all due respect, I beg to disagree. The economy is far from fine. It is about to crumble down. The current problem is not just about people having no money to spend. It has also become a problem where to spend them. Shops, restaurants, shopping centers, bars, and so on are closing.

And not just these kinds of businesses. Even factories and manufacturing centers, hotels and resorts, airlines, casinos, and many more are also closing down. People are not earning anymore.

BitCoin grew up in an ECONOMIC BUBBLE, where virtually all assets were going up. BitCoins PRICE CRASH in its first economic crisis should worry everyone Shocked

The economic crisis will last for many years, yes worse than the GREAT DEPRESSION. It is impossible to predict, BUT, if BitCoin continues to react this way to an economic crash, BitCoin is DONE, going down to almost zero.

Hard Facts

BTC has recovered from 3900 price point to 6500 and had a 15% difficulty adjustment in favor of miners.

That is about 1.91x better for a miner . Seems like the hardfacts are once again a soft lie.

bangdik123

jr. member

Activity: 114

Merit: 4

Quote from: ?? on ??

Im also investing and accumulating the best as i can because i think an imminent financial crisis is coming which could lead to fiat value going default. It would be wise to invest in other assets and precious metal and diversify because we'll never know what might happen to the economy in the next months. Once the people loses confidence in the banks due to severe inflations and rate cuts, people will start to rely on safe havens such as Gold, silver or BTC.

The right way of investing is like that, we must be able to save our money from the main finance as a reserve fund when things that are needed urgently we can make an alternative.

This is the right investment, of course it would be wiser if we could make investments not just in one investment, but there are some opportunities that we can use and not just in one place, so that developments will be more stable and safer for sure.

Wexnident

hero member

Activity: 2758

Merit: 675

I don't request loans~

Investing in multiple assets is a given when you are trading. Putting everything in one asset shows that you're basically placing it all on that asset. An All in kind of thing when compared to gambling. However, spending BTC may not be the best-given choice, Especially since the market hasn't really reached the time where it would go to the moon. Most especially if it is going to the moon, hodlers would not bother spending their BTC.

As for banks closing down, nope. The money around basically flows depending on how banks manage it. If banks close down, money could be said to have stopped flowing, aka, the economy has stagnated. What's worse than your country's economy stagnating right? It'd probably be better to just have said the country is basically dead.

Lucius

legendary

Activity: 3234

Merit: 5637

Blackjack.fun-Free Raffle-Join&Win $50🎲

As a BTC holder I can say that it is necessary to find a certain balance between a long-term investment and using BTC as the currency for paying for goods and services. What actually prevents many to spend their BTC is the fact that they don't really have anywhere to spend (at least not locally), and if they decide to buy online from other countries they may face extra costs in the form of VAT and customs fees.

All those who want greater availability of retail outlets that accept BTC at the local level, need to do something about it. It is not difficult to send an e-mail to the seller and propose to enable BTC as a payment method, as many do not even know that such a thing exists at all.

BTC as a currency and store of value is something that can work, but everyone should contribute to that end.

o_e_l_e_o

legendary

Activity: 2268

Merit: 18775

Quote from: metenjean on March 30, 2020, 08:54:24 PM

I have tired with many my assets altcoin like ethereum, litecoin, atom and bitcoin cash price going down. What better have I do with my assets keep holding or cut lost and take profit with investing in other altcoin or bitcoin.

So you've lost a bunch of money by buying a handful of useless altcoins, and your solution is to instead put your money in to a bunch of other useless altcoins? That's simply crazy. Either stick with bitcoin or cash out altogether and choose a different asset.

Quote from: seoincorporation on March 30, 2020, 06:11:09 PM

I do not agree with OP. If the holders start selling their coins that will make a massive crash in the markets

That's not what OP is saying. There is a difference between selling your bitcoin and spending your bitcoin. Selling on an exchange produces downwards pressure on the markets. Spending bitcoin for goods and services helps it to circulate, be used, be adopted, grow, develop. Indeed, spending bitcoin and growing adoption is the only way it will ever move from pure speculation to an actual currency.

Quote from: mk4 on March 30, 2020, 07:51:11 PM

Using bitcoin to buy groceries and such simply mostly isn't here yet(unless you use those BTC debit cards).

Don't forget gift cards. I use bitcoin for a great deal of my day to day spending by using gift cards. I would love to use a BTC debit card but since I flat out refuse to complete KYC, they have never been an option for me. I've had success in emailing a couple of the big gift card providers and asking them to start stocking cards for specific retailers I use though.

carlisle1

hero member

Activity: 2744

Merit: 541

Campaign Management?"Hhampuz" is the Man

This is what i want to happen in my country so i can just use my Bitcoin more often than converting in Fiat whenever i am short in financial.but i have no option but to use fiat and only use Bitcoin in limited chances.

Quote from: metenjean on March 30, 2020, 08:54:24 PM

How long you can hold bitcoin and altcoin? I have tired with many my assets altcoin like ethereum, litecoin, atom and bitcoin cash price going down. What better have I do with my assets keep holding or cut lost and take profit with investing in other altcoin or bitcoin.

your TIRED in your assets but still holding?lol sell all of them if you are already tired because this is not the place for no patience .

sheenshane

legendary

Activity: 2548

Merit: 1234

Quote from: HardFacts on March 30, 2020, 09:45:50 PM

The economic crisis will last for many years, yes worse than the GREAT DEPRESSION. It is impossible to predict, BUT, if BitCoin continues to react this way to an economic crash, BitCoin is DONE, going down to almost zero.

Yeah, that's right. It is impossible to predict and I think Bitcoin will not go down and reach zero bottoms. The primary reason that all business industries had down and close at this moment just because of the pandemic coronavirus that causes to have a global economic crisis. Once it will be done and the pandemic will totally wipeout everything back to normal.

I tend to agree with the OP, never full back all your assets either real stock or crypto at a time. But as much as possible hold your Bitcoin right at this moment, this isn't good to convert fiat when the price down. But if there are no other resources and you urgently need to buy food and other necessities, that 's the time to pull back half of your crypto asset. Don't lose hope at this time, we still keep fighting from this root of economic crisis.

HardFacts

member

Activity: 434

Merit: 29

Quote from: Darker45 on March 30, 2020, 09:17:47 PM

With all due respect, I beg to disagree. The economy is far from fine. It is about to crumble down. The current problem is not just about people having no money to spend. It has also become a problem where to spend them. Shops, restaurants, shopping centers, bars, and so on are closing.

And not just these kinds of businesses. Even factories and manufacturing centers, hotels and resorts, airlines, casinos, and many more are also closing down. People are not earning anymore.

BitCoin grew up in an ECONOMIC BUBBLE, where virtually all assets were going up. BitCoins PRICE CRASH in its first economic crisis should worry everyone Shocked

The economic crisis will last for many years, yes worse than the GREAT DEPRESSION. It is impossible to predict, BUT, if BitCoin continues to react this way to an economic crash, BitCoin is DONE, going down to almost zero.

Hard Facts

bitcoinethereum

newbie

Activity: 7

Merit: 0

Quote from: metenjean on March 30, 2020, 08:54:24 PM

How long you can hold bitcoin and altcoin? I have tired with many my assets altcoin like ethereum, litecoin, atom and bitcoin cash price going down. What better have I do with my assets keep holding or cut lost and take profit with investing in other altcoin or bitcoin.

Hi Metenjean, unless you absolutely have to get money, we would never recommend selling at a loss. Especially not during the Covid-19 pandemic. Our advise would be to wait for everything to go back to normal, and you’ll see prices start to rise again. The same goes for the real estate market - as an off topic mention!

NavI_027

full member

Activity: 1232

Merit: 186

There are only two reasons why I preserve my bitcoin: 1) Because for the sake of saving, wishing that it will skyrocket in the near future (especially that halving approaches soon) and earn profits 2) I don't see any opportunities of using it in the reality. Though we are in a crisis today, honestly I am still willing to spend it on his true form because I knew that this is the best way to attain more adoption. But what should I do if I'm just limited on buying prepaid load? So the tendency is to hodl my coins, I have no choice in short Sad

.

Quote from: SuprHodlr on March 30, 2020, 01:50:40 PM

- Don't put all your assets in Bitcoin. Buy gold, silver, solar panels, food, toilet paper. Keep some cash for emergency.

Hmm, it sounds that the shortage of toilet paper in your country is really serious huh. So the memes I saw recently are real Cheesy

. Why mind using toile5 paper when you can use face towel and soap & water (for call of nature) at the first place?

Darker45

legendary

Activity: 2576

Merit: 1860

I guess what partly prompted the recent massive selling of Bitcoin are the people who need cash more than just an asset they can hardly spend. As a matter of fact, there was one thread here who shared his/her circumstances to let go of his precious Bitcoin because he/she had no other source of cash. For me, it is not anymore about HODLing; it is about where to spend one's Bitcoin for as basic a necessity as food or toilet paper. If Bitcoin was not as widely accepted as a payment option prior to this pandemic, how much more today when shops are already closing?

Quote from: SuprHodlr on March 30, 2020, 01:50:40 PM

But the real economy is fine. Shops and bars will open again. As long as people have money to spend, others will keep their jobs.

With all due respect, I beg to disagree. The economy is far from fine. It is about to crumble down. The current problem is not just about people having no money to spend. It has also become a problem where to spend them. Shops, restaurants, shopping centers, bars, and so on are closing.

And not just these kinds of businesses. Even factories and manufacturing centers, hotels and resorts, airlines, casinos, and many more are also closing down. People are not earning anymore.

mk4

legendary

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Merit: 3883

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Quote from: metenjean on March 30, 2020, 08:54:24 PM

How long you can hold bitcoin and altcoin? I have tired with many my assets altcoin like ethereum, litecoin, atom and bitcoin cash price going down. What better have I do with my assets keep holding or cut lost and take profit with investing in other altcoin or bitcoin.

Take a look at the charts. Altcoins have pretty much been on a downtrend for a while already. Altcoins have always been very high risk. If you want high risk? That's what you get, high chances of losses. If you want low chances of loss, get out of crypto and go with safer assets like an S&P500 index fund.

metenjean

full member

Activity: 854

Merit: 140

How long you can hold bitcoin and altcoin? I have tired with many my assets altcoin like ethereum, litecoin, atom and bitcoin cash price going down. What better have I do with my assets keep holding or cut lost and take profit with investing in other altcoin or bitcoin.

bitcoinethereum

newbie

Activity: 7

Merit: 0

Hi SuprHodlr, We agree that the more Bitcoin is spent in as many areas of the economy as possible, the more it will catch on. This has been true when it comes to new start up industries such as social media. The more people actually use bitcoin (and by 'use' we mean actually use it, not just store it) , the more likely retailers will start adopting it as a form of payment. Here in the US of A the government just approved a stimulus package. Perhaps all those hodlers should come together and release their own stimulus package for Bitcoin! AKA - use it!

Topic: HODLers, spend your BTC - page 3. (Read 817 times)