How to Spend Bitcoin? - page 6. | Bitcointalksearch.org

Oasisman

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This is the perfect time I guess to use bitcoin to shop online since we can't freely go outside and shop because of the covid-19..

Seems a good idea for global adoption, and hoping for a lot of merchants to accept more Bitcoin payments through online shopping. But, sad to say not so many people in crypto space would prefer to pay using CC and debits than Bitcoin, because they have been considering Bitcoin as a store value than a currency to use for transactions. One of the reason that hinders the massive global adoption of Bitcoin, since majority of us are just holding, without spending a fraction of it.
IMO, we can always get to spend a little fractions of our Bitcoin to pay for something.

adzino

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Quote from: hahay on June 12, 2020, 11:36:10 AM

There are lots of lists that you have entered and for me personally spend it more often in gambling, even I've done it a long time ago or since I first knew bitcoin, this bitcoin gambling is something that makes me even more involved to enter the cryptocurrency market so I consider it something ordinary and not surprised when I read in your article if gambling is included in the topic section on how to spend bitcoin. Cheesy

And what do you do with your winnings? You should probably try using it as a regular currency. Trust me you will love it! Instead of paying with fiat when you buy something next time from Amazon (if you are looking for a legit site to buy gift cards, try bitrefill or coinsbee. Coinsbee has cheaper rates compared to Bitrefill, but bitrefill has better interface!), try buying a gift card using your crypto currencies. You will really be amazed how fast, smooth and easy it will be to use crypto currencies!

hahay

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There are lots of lists that you have entered and for me personally spend it more often in gambling, even I've done it a long time ago or since I first knew bitcoin, this bitcoin gambling is something that makes me even more involved to enter the cryptocurrency market so I consider it something ordinary and not surprised when I read in your article if gambling is included in the topic section on how to spend bitcoin. Cheesy

fullhdpixel

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The things you have listed there are good, except the one of gambling, because I don’t gamble often. But, I have never used Bitcoin to spend on anything, apart from using it for a transaction in some cases where it’s needed (mostly times when I’m selling using on counter trade). I don’t really see the need why I should be spending my Bitcoin unnecessarily on some stuffs.

I see Bitcoin as an investment and when I invest in it I hold till the time I’m ready to sell them. When I buy things online my debit card works for me. I know some will say it’s not safe to use cards online, well I already got that sorted out for me.

Reatim

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Quote from: Naida_BR on May 27, 2020, 02:59:33 AM

I cannot find any real reason why you should spend your bitcoins in order to shop online.
In my opinion, Bitcoin has a bigger value than the one right now so it is not worthy spending them for shopping. It is better to keep them in your wallet and consider it as your investment. If you want to buy something online use a stablecoin...

At this time of covid19 pandemic most of the people can't go out because of lockdown and the other way to buy online is using cryptocurrency like bitcoin. Although it's good to hold bitcoin but if you don't have other choice then you have nothing to do but to spend it,buy goods that you need in your daily life. But in other side we have different reasons why we spend or hold bitcoins.

Nope depend on which place we are,because how can you use cryptocurrency or Bitcoin if there are no chance to use it?i mean there are no establishments that you can pay using bitcoin?and also how can you expect people to Buy items online when you are denying the fact that Bitcoin is a currency and not for store value?

anyway if you want to look for best option to Buy and sell Bitcoin then better check BesChange here https://www.bestchange.com/ I am sure that you will Find how many choices that you can have Bitcoin and other crypto in your hands.

Astvile

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Quote from: Naida_BR on May 27, 2020, 02:59:33 AM

I cannot find any real reason why you should spend your bitcoins in order to shop online.

If you own the bitcoin then you can freely spend it. It's your hard earned bitcoin or simply your own money you have total control on whatever you want to use it. Plus shopping online with bitcoin really gives us convinient and safety we need specially this time during a pandemic so I can't see anything wrong about it.

amonymous

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Advice
If you have to much bitcoin then you can spend your bitcoin in online shopping (if necessary). Otherwise if you're going to long time holders then you can makes more profitable. Personally me better target 90% holding at this time and others 10% i can spend online shopping/others place.

slapper

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Well, in my opinion, spending bitcoin in an online shop is not profitable and can be wasted your money. As you can see, most of the item which can be purchased by bitcoin usually has a higher price than those originals store or even Amazon. If I were you, I would exchange my crypto to Fiat to have a better rate and cheap prices. However, I will never do that. I always consider bitcoin as a term of investment and therefore, spending bitcoin is not a good idea to me. Instead, saving bitcoin is my number one target. The more bitcoin I have, the more chance I will double my capital in the future. Therefore, be wise and think straight before trying to use any of your bitcoin for nonsense stuff Wink

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Quote from: htsy585 on June 07, 2020, 05:16:43 PM

Quote from: Naida_BR on May 27, 2020, 02:59:33 AM

I cannot find any real reason why you should spend your bitcoins in order to shop online.
In my opinion, Bitcoin has a bigger value than the one right now so it is not worthy spending them for shopping. It is better to keep them in your wallet and consider it as your investment. If you want to buy something online use a stablecoin...

I don't see anything bad in using bitcoin for shopping online.

maybe OP treating His Bitcoin as a Digital Gold that needs to be holding and not to be spent in which bad for the circulation.

Quote

After all, the concept behind the creation of bitcoin promote more of using it for daily transaction than keeping it for investment with the hope of selling it off when the price increases tremendously.

Actually the first mentioned is what Bitcoin is all about and the second about selling when the price increases are only another option.

Quote

Bitcoin is too serve a decentralized digital currency that provide people with secure and anonymous option to FIAT currency, so using it to shop online is really a cool idea

yeah not to compete with fiat but to Help us have a faster and ideal transacting than using Physical money that takes more time and risk.

PANK21

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Quote from: BitcoinYu on May 27, 2020, 02:22:47 AM

Hi Y’all,

I don't know how about you guys but I'm really bored being quarantined in my flat. So I did the “Best” thing possible. I started to shop online. I had some bitcoins left so I decided to spend them as well.

And it turned out that was an adventure in itself. Roll Eyes

So I compiled my favorite options of spending bitcoins in an article, which I managed to publish on Paybis.

In case you are interested, you can check it out here: https://paybis.com/blog/how-to-spend-bitcoin/

I’d like to turn this post the best one on the topic, so I’d appreciate some
recommendations as to what other spending methods I should add.

Thanks and see you around after this quarantine ends!

There is nothing wrong using btc to shop online as long as you are happy and get rid of your boredom but think wisely, we are in a pandemic crisis now. In my opinion, i think it's better to save or invest that bitcoin you had left. Don't let the boredom get into you. Instead, trade it or invest it so that you can gain some profits or even much more. This is just my opinion, besides it's up to you but i strongly advice to not make any hasty decision in the future. Keep safe everyone!.

Rengga Jati

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Do you feel bored and then spending your Bitcoin shopping? I think it is a good idea, but it must be limited. How can we only spend more and more Bitcoin if it is still self-quarantined? I personally better do more than only shopping. It may be boring but I think trading Bitcoin is much better to focus during this pandemic. Moreover, there are also some other activities to be done. Why should you spend more Bitcoin? Grin

I personally will prefer to do these following activities in spending my free time (outside working on my job and crypto) such as playing with my kid, cooking, playing games, and other activities including having exercises at home.

Quote from: BitcoinYu on May 27, 2020, 02:22:47 AM

recommendations as to what other spending methods I should add.

Trading Bitcoin is the best thing that I can because it can make me earn more BTC again. if I have moe BTC, I can fulfil my daily needs and also my families. As we know, in this pandemic era, it is very difficult to seek a job outside and it is forbidden. So it is better not to spend the BTC, but to make it for trading or investing in order to gain more profits.

htsy585

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Quote from: Naida_BR on May 27, 2020, 02:59:33 AM

I cannot find any real reason why you should spend your bitcoins in order to shop online.
In my opinion, Bitcoin has a bigger value than the one right now so it is not worthy spending them for shopping. It is better to keep them in your wallet and consider it as your investment. If you want to buy something online use a stablecoin...

I don't see anything bad in using bitcoin for shopping online. After all, the concept behind the creation of bitcoin promote more of using it for daily transaction than keeping it for investment with the hope of selling it off when the price increases tremendously. Bitcoin is too serve a decentralized digital currency that provide people with secure and anonymous option to FIAT currency, so using it to shop online is really a cool idea

bitbunnny

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No matter what some say I beleive that Bitcoin was meant to be spent too, not just to be kept in some wallet.
Of course the key is to find the balance between spending and holding and it's good if you can enlarge your portfolio through trading.
I like spending Bitcoin for my everyday needs, sometimes to pay the bills, sometimes for groceries, cloths or something else. For me that is proof that Bitcoin has real use and purpose in real life and it's not only tied to trading and investing.

LogitechMouse

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Quote from: BitcoinYu on May 27, 2020, 02:22:47 AM

~

Well, the main reason of Bitcoin is to really use it if you will have a transaction with other people so what you did is right.

I'm also spending some of my Bitcoins monthly to pay some bills and keeping some of it for the long term. TBH, I didn't tried to buy anything online thru crypto. I'm always using digital cash to pay it but still it came from crypto as I only convert the Bitcoins into our own currency and will pay it thru online.

When some users here suggesting that you might hold it to increase your profit, my advice to you is that use your Bitcoins whenever and whatever you want since it is your own. If you want to spend it all then go. If you want to hold all of it then ok. If you want to do both depends on you.

Rafiqul

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You were impatient to be quarantined in your flat during this epidemic, unable to get out of the house, during this time you used Bitcoin for online shopping and met your needs without leaving home; This is not a bad idea and has written a beautiful article compiling the preferred options for spending bitcoin as well; Which has been able to be published in Paybis. In my opinion, you have done a very good timely work and you have overcome the impatience caused by this epidemic. Your published article will benefit everyone. Thank you.

slackovic

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Quote from: bakasabo on May 28, 2020, 02:56:51 AM

Quote from: slackovic on May 28, 2020, 02:40:04 AM

I don't understand... What opportunities am I missing while holding and not spending Bitcoin? The only opportunity that comes to mind is to buy back more Bitcoin if it's price drops. But no one can be sure that it's price will drop.

Do you have everything in your life or there is something that can be changed with money? Is there something that your really want, but you cant afford it right now?

Lets say you have 20 BTC and you can buy a new house now. Or you could hold them and hope that their value will increase. But their value could also decrease.

It about having something now vs probability to have it or not in the future. What will be your choice?

It depends. If my goal is to buy a new house, then I would spend those 20 BTC to buy it. However, if my goal is to buy an island, then I would wait for Bitcoin to increase it's value so that I can buy an island for that 20 BTC.

And one more thing... You know what's the real problem with spending Bitcoin? If I were to go and buy a new car in a shop that accepts Bitcoin, that shop couldn't keep that Bitcoin. They must immediately exchange it for fiat and pay taxes in fiat. At least that's how accepting Bitcoin in shops looks like in my country. I don't see how that increases Bitcoin adoption. If a shop could keep that BTC, then spending it would increase it's adoption.

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Quote from: Nathanz on May 28, 2020, 03:58:42 AM

I suggest that avoid getting into little transactions using Bitcoins. It is not advisable. The fees of every transaction is high especially when you want your transaction to be smooth and fast, you might end up spend a thousands of satoshis for that particular transaction. I suggest that you may just hold your bitcoin or try your luck in trading and gambling. From there, there is a possibility that you might double your money or lose it all. It all depends on you. Just don't use bitcoin for small transactions.

What about utilizing segwit wallet to lessen the fees, specifically, use native segwit that is in fact a way to make transaction faster and solve this micro transaction issues. Though, there are really some cryptocurrency that is better in bitcoin when transaction speed and fees is to consider, it is just that, using bitcoin through micro transaction is also a way to make sure that we are helping to increase the adoption of bitcoin and it doesn't mean that bitcoin is already at it final development stage. IMO, bitcoin is still developing and there's still allot of things to improve by using it.

Nathanz

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I suggest that avoid getting into little transactions using Bitcoins. It is not advisable. The fees of every transaction is high especially when you want your transaction to be smooth and fast, you might end up spend a thousands of satoshis for that particular transaction. I suggest that you may just hold your bitcoin or try your luck in trading and gambling. From there, there is a possibility that you might double your money or lose it all. It all depends on you. Just don't use bitcoin for small transactions.

KrisAlex18

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Why do you mind spending your bitcoin if you don't need to do it? What are your thinking of spending those bitcoins? Do you feel happy when doing so? The best thing to spend your bitcoin is for the things you need, like foods, personal hygiene, or to those things that makes you happy or better yet invest it, investing your bitcoin is one of the best ways to do with it. There are many people who want to have bitcoin because they want to invest it and have more money in the future.

Quote from: Eugenar on May 28, 2020, 01:57:27 AM

Once you have saved money, you won't have a problem when a crisis happens, you have money to purchase foods, clothes, etc.

That's true, many people now see facing problems in terms of financial because they are now jobless and those people who have saved money see the ones who are not minding those problems.

bakasabo

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Quote from: slackovic on May 28, 2020, 02:40:04 AM

I don't understand... What opportunities am I missing while holding and not spending Bitcoin? The only opportunity that comes to mind is to buy back more Bitcoin if it's price drops. But no one can be sure that it's price will drop.

Do you have everything in your life or there is something that can be changed with money? Is there something that your really want, but you cant afford it right now?

Lets say you have 20 BTC and you can buy a new house now. Or you could hold them and hope that their value will increase. But their value could also decrease.

It about having something now vs probability to have it or not in the future. What will be your choice?

Topic: How to Spend Bitcoin? - page 6. (Read 1855 times)