How to Spend Bitcoin? - page 7. | Bitcointalksearch.org

slackovic

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Quote from: kjlimo on May 28, 2020, 02:42:03 AM

I haven't been very present on these forums for many years, but it seems people are uninformed about the lightning network on these forums...

Lightning network solves the SPENDL problem...

And people complaining about spending bitcoin sound like they have a problem of having too much USD and not enough bitcoin... simply reduce USD and increase BTC in your holdings, and then if you want to buy something, you'll be forced to use BTC... if not, then I agree, get rid of those USD to solve the problem...

It's true, I'm not that informed about the state of development of the Lightning network. I know it exists, but I don't know if it's ready to be widely used. Also, I'm not sure if a shop that accepts Bitcoin automatically accepts using the lightning network.

kjlimo

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Quote from: slackovic on May 27, 2020, 05:10:29 AM

Quote from: bakasabo on May 27, 2020, 05:00:45 AM

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...

What you are saying totally doesn't match what Bitcoin was created for. It is a digital currency, "invented" to make decentralized transactions, with just small transactions fee. Just one strange thing - if it is decentralized or anonymous, how warranty will work if you do online shopping?

But what you are saying is that Bitcoin is an instrument to get income. It is not a security paper, it was not created for holding.

Imagine if Bitcoin is a car. You advice to go walking instead of driving and hold your car in a garage, because one day its value will be greater.

But the problem is that Bitcoin (in it's current state of development) isn't good enough to be used as a digital currency. It's fees can get too expensive to be used for microtransactions. I know that Satoshi intended Bitcoin to be a "peer-to-peer cash" but it needs improvement in order to become that.

And one more thing... You can't compare Bitcoin with a car because cars lose value over time and Bitcoin's value goes up and down over time.

I haven't been very present on these forums for many years, but it seems people are uninformed about the lightning network on these forums...

Lightning network solves the SPENDL problem...

And people complaining about spending bitcoin sound like they have a problem of having too much USD and not enough bitcoin... simply reduce USD and increase BTC in your holdings, and then if you want to buy something, you'll be forced to use BTC... if not, then I agree, get rid of those USD to solve the problem...

slackovic

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Quote from: bakasabo on May 28, 2020, 02:35:10 AM

Quote from: slackovic on May 28, 2020, 01:35:12 AM

We can debate all we want, but the fact is that more than 90% of people buying Bitcoin are buying it as an investment, not to spend it on shopping.

Yes, we could...

My idea was - there are things that are created to be used, but people use them in different way. Like bitcoin was originally created to be a cheap and decentralized way of payment, but people use it as an investment (and I'm OK with it, its their choice)

The person I've quote in the beginning advised to hold bitcoins, but I advice to use it. Spend it, trade it, send it - do whatever you want. But holding - think about inflation and opportunities missing, or think about that bitcoin would never reach ATH

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.

kjlimo

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Gotta add Fold to your list of gift card spending.

Some gift cards give 5, 6 or even 8% back when using the lightning network!!!

Can't talk about spending without discussing the lightning network

bakasabo

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Quote from: slackovic on May 28, 2020, 01:35:12 AM

We can debate all we want, but the fact is that more than 90% of people buying Bitcoin are buying it as an investment, not to spend it on shopping.

Yes, we could...

My idea was - there are things that are created to be used, but people use them in different way. Like bitcoin was originally created to be a cheap and decentralized way of payment, but people use it as an investment (and I'm OK with it, its their choice)

The person I've quote in the beginning advised to hold bitcoins, but I advice to use it. Spend it, trade it, send it - do whatever you want. But holding - think about inflation and opportunities missing, or think about that bitcoin would never reach ATH

Eugenar

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There are many ways for you to spend your bitcoin, it's up to you bro, do not mind it, it's better to spend your bitcoin through trading and investing, instead of spending it to other things, always think for your future it's better if we have saved money so in the future, we can have something to spend for our daily needs and wants. Let us make this pandemic virus a lesson for us, most of the people are getting worried because of having no money they don't know what to do to sustain their foods and needs.

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

slackovic

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Quote from: bakasabo on May 28, 2020, 01:29:17 AM

Quote from: slackovic on May 27, 2020, 05:10:29 AM

Quote from: bakasabo on May 27, 2020, 05:00:45 AM

What you are saying totally doesn't match what Bitcoin was created for. It is a digital currency, "invented" to make decentralized transactions, with just small transactions fee. Just one strange thing - if it is decentralized or anonymous, how warranty will work if you do online shopping?

But what you are saying is that Bitcoin is an instrument to get income. It is not a security paper, it was not created for holding.

Imagine if Bitcoin is a car. You advice to go walking instead of driving and hold your car in a garage, because one day its value will be greater.

But the problem is that Bitcoin (in it's current state of development) isn't good enough to be used as a digital currency. It's fees can get too expensive to be used for microtransactions. I know that Satoshi intended Bitcoin to be a "peer-to-peer cash" but it needs improvement in order to become that.

And one more thing... You can't compare Bitcoin with a car because cars lose value over time and Bitcoin's value goes up and down over time.

Fees cant be expensive with microtransactions, because they depends from value "satoshi/byte". The bigger is the value need to be written in block, the bigger transaction fee will be. You can set the value of 1 satoshi per byte and your transaction will cost less than 1 cent if you make a microtransaction (by micro lets take something less than $10), but it will take a long time to be confirmed.

Dont like car example - here is another. Imagine you are at war. You need to create a sword, to be able to do it, you need metal (bitcoin). Instead of forging a sword from metal, you go fighting barehanded, because you think the value of your metal will increase

OK, but you can't compare buying a cup of coffee with fiat and fighting in the war barehanded. In the first example, nothing will happen - you will still drink a cup of coffee and keep your Bitcoin. And in the second example, fighting barehanded in a war will most likely get you killed.

We can debate all we want, but the fact is that more than 90% of people buying Bitcoin are buying it as an investment, not to spend it on shopping.

bakasabo

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Quote from: slackovic on May 27, 2020, 05:10:29 AM

Quote from: bakasabo on May 27, 2020, 05:00:45 AM

What you are saying totally doesn't match what Bitcoin was created for. It is a digital currency, "invented" to make decentralized transactions, with just small transactions fee. Just one strange thing - if it is decentralized or anonymous, how warranty will work if you do online shopping?

But what you are saying is that Bitcoin is an instrument to get income. It is not a security paper, it was not created for holding.

Imagine if Bitcoin is a car. You advice to go walking instead of driving and hold your car in a garage, because one day its value will be greater.

But the problem is that Bitcoin (in it's current state of development) isn't good enough to be used as a digital currency. It's fees can get too expensive to be used for microtransactions. I know that Satoshi intended Bitcoin to be a "peer-to-peer cash" but it needs improvement in order to become that.

And one more thing... You can't compare Bitcoin with a car because cars lose value over time and Bitcoin's value goes up and down over time.

Fees cant be expensive with microtransactions, because they depends from value "satoshi/byte". The bigger is the value need to be written in block, the bigger transaction fee will be. You can set the value of 1 satoshi per byte and your transaction will cost less than 1 cent if you make a microtransaction (by micro lets take something less than $10), but it will take a long time to be confirmed.

Dont like car example - here is another. Imagine you are at war. You need to create a sword, to be able to do it, you need metal (bitcoin). Instead of forging a sword from metal, you go fighting barehanded, because you think the value of your metal will increase

DoublerHunter

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^ Bitcoin is a long time investment that can go down and increase in value depending on the country's economy. And in a time like this with a widespread pandemic and everyone can't get out of the house using bitcoin for online shopping is not a bad idea. And because of the pandemic and enhanced quarantine community that our government is implementing, it is better to use money such as bitcoin to buy things that we miss every day. Because it is not good to go out of the house and for the sake of your safety and you really should do online shopping. But in my opinion, you did nothing wrong, and you did just remove the impatience caused by this pandemic. And another one of your own bitcoin you spend so, probably that is not a problem there.

seoincorporation

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I feel like the best way to spend bitcoins in this quarantine is gambling and trading, those two actions will get us stoked to monitor and with the right luck we can walk away with some money in the hands.

But if we want to spend it in some real things, we can use Open Bazar. That's the right place to buy and sell things.

carlisle1

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Quote from: Russlenat on May 27, 2020, 06:36:56 AM

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...

Why not? as an investor, we can also spend, we can do both actually, so it's not wasting your bitcoin because as an investor, you'll ensure that you will not touch your investment until a certain time will arrive or it will hit your target.

Correct mate and also for Bitcoin to be adopted and starts to be use worldwide there must be a supply and demand but since the mindset of everyone is to Hold bitcoin and wait until the value goes up but not thinking that Bitcoin must be circulated to prove that it has really a value.

Quote

If you have fiat now and you like to shop online using bitcoin, then you covert it, that's what people do, if they spend bitcoin it doesn't mean they don't value it now and its future.

Absolutely ,Just like traveling around the world and using your Bitcoin if there is a chance than bringing your Pouch/wallet with fiat and sometimes needed to convert your dollar first for the local currency before enjoying the place,while if the Bitcoin is available in that country you can just use direct payment from your Online wallet to the establishment or restaurant .

joniboini

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Quote from: FlightyPouch on May 27, 2020, 06:33:22 AM

We can't really spend bitcoin here in our country that easy since there are a lot of people that still don't know what it is. If we really wanted to use it though, we can buy some shoppee or lazada points out of a local exchange using that bitcoin. It might not be the same as you people using bitcoin directly but, well, I am also using it.

Never knew that was possible. Might be worth to try next time I want to use those e-commerce apps.

I personally spend bitcoin regularly for my cloud and some gaming stuff. I can use fiat too but the fees difference are really high. It also helps if my CC or debit card was not accepted by the merchants, so I can still use their services.

Quote from: Yaunfitda on May 27, 2020, 06:14:51 AM

Endless debate as to whether we should spend our bitcoin. Really up to the individuals preference and I'm sure that those who are using it should not regret their decision.

A currency will die if it was not used for its purposes. As mentioned above, if no one use bitcoin, merchants won't care about accepting them. Adoption will stagnate or even worse, slowly die.

yazher

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Last night my friend was having a problem purchasing some in-game promo in Dota 2 because there's a lot of people looking where to buy that in-game features in the stores. causing them to sold-out in every store they can find in our town. Thankfully we have the final option. where we will use BTC to purchase it by using our local BTC wallet and we managed to buy that Item with BTC I have. I'm so happy that I'm able to help my friend because it was already late last night he was knocking at our door to ask some help about it and finally earlier we have bought the Battle Pass in Dota 2. That's how I spent my BTC earlier and it was a great spending moment I will never forget about this purchased I made.

tomahawk9

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

In my opinion, Bitcoin has a bigger value than the one right now so it is not worthy spending them for shopping.

Quote from: DoubleEdgeEX on May 27, 2020, 05:26:14 AM

HODL is the name of the game at the moment. You can spend it for random crap, but BTC is for the long rund and not for the quick buck .

Sadly, this is the mindset of the majority of bitcoiners right now, they see BTC only as an invesment rather than an electronic currency (Satoshi must be fuming right now). Adoption will never occur until ppl get rid of this mindset, and let's be honest, it'll never go away so, you know where i'm going with this...

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

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

Added to my ignore list for blatant advertising shilling.

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...

Remember mate that Bitcoin is a currency so there is no wrong spending this Online,and have you read the thread about the account you
Bought pizza for thousand Bitcoin?

Here better check this for you to find out whats the important of Bitcoin being spent than Hoarding.

https://bitcointalksearch.org/topic/happy-bitcoin-pizza-day-5250313

and here another one who's being inspired by that Pizza buying

https://bitcointalksearch.org/topic/bitcoin-pizza-day-2020-on-me-5250072

Hope thats enough for you to understand why OP uses his bitcoin to shop Online.

Russlenat

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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...

Why not? as an investor, we can also spend, we can do both actually, so it's not wasting your bitcoin because as an investor, you'll ensure that you will not touch your investment until a certain time will arrive or it will hit your target.

If you have fiat now and you like to shop online using bitcoin, then you covert it, that's what people do, if they spend bitcoin it doesn't mean they don't value it now and its future.

FlightyPouch

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We can't really spend bitcoin here in our country that easy since there are a lot of people that still don't know what it is. If we really wanted to use it though, we can buy some shoppee or lazada points out of a local exchange using that bitcoin. It might not be the same as you people using bitcoin directly but, well, I am also using it.

Yaunfitda

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Quote from: DoubleEdgeEX on May 27, 2020, 05:26:14 AM

HODL is the name of the game at the moment. You can spend it for random crap, but BTC is for the long rund and not for the quick buck .

Could be, but there are bitcoin enthusiast who want to test it's use case as a mode of payment. So you can't blame them for using their precious bitcoin. Here are some good companies retailers accepting BTC as payment.

https://www.buybitcoinworldwide.com/who-accepts-bitcoin/

Endless debate as to whether we should spend our bitcoin. Really up to the individuals preference and I'm sure that those who are using it should not regret their decision.

freedomgo

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We need people like you who really think of spending because when people are willing to spend, that will create an adoption.
If you ask me, I think you should spend bitcoin like what you like to do, though not much you can buy online with bitcoin, but you can enjoy online especially if you love gambling, my recommendation is spend it in gambling and have fun.

Lucius

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Quote from: DoubleEdgeEX on May 27, 2020, 05:26:14 AM

HODL is the name of the game at the moment. You can spend it for random crap, but BTC is for the long rund and not for the quick buck .

What about people who are holding for 5+ years? If someone is invest in BTC at time when it was worth only a few dollars or a few hundred dollars should he/she still just hold and wait for $1 million per BTC? Money exists to be spent, of course in a smart way (not on gambling and investing in ponzy/MLM schemes), and since there is a thousands of places where it is possible to pay with BTC at the moment why not use that option as well.

Of course there are those who are not in the crypto world because they want to use BTC as a currency, and also those who think that the fee of $1 is too much for a BTC transaction. Fortunately for them there are many alternatives that are cheap and do not require almost any technical knowledge.

Topic: How to Spend Bitcoin? - page 7. (Read 1855 times)