If you have a lot of bitcoin, should you spend it or save it? - page 62.

asdalani

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Quote from: serjent05 on June 29, 2017, 02:43:52 PM

If I have lots of Bitcoin then probably there is nothing wrong if I choses to spend them since I can afford to spend bitcoin due to the fact that we assume i have lots of it. I will keep those bitcoin is not needed for converstion and will wait till the price of Bitcoin goes up so that I can have more fiat currency once I decided to convert it to fiat. I believe I can see several ATH before that many bitcoin is depleted.

I have nothing against people spending Bitcoin though wouldn’t you want the whole Bitcoin project to grow by holding your coins?
If you have enough money and enough Bitcoins then what is the point of spending any Bitcoins on anything? If I had both then I wouldn’t spend any Bitcoins.

serjent05

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If I have lots of Bitcoin then probably there is nothing wrong if I choses to spend them since I can afford to spend bitcoin due to the fact that we assume i have lots of it. I will keep those bitcoin is not needed for converstion and will wait till the price of Bitcoin goes up so that I can have more fiat currency once I decided to convert it to fiat. I believe I can see several ATH before that many bitcoin is depleted.

lionheart78

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Quote from: Crapz23 on June 27, 2017, 10:58:10 AM

Let's say I have 2.1 BTC And I don't spend it. Will it go up a few cents if I save it? Cause in my wallet I have up to about 50 cents worth of bitcoin. I started up with 13 cents 7 months ago. Now all of sudden I have bitcoins worth 50 cents. What do you call this? I only made that one 13 cent deposit. Nothing else!

That is called appreciation of price value of Bitcoin. If you deposit 2.1 BTC and price of bitcoin increase then you can see an increase in equivalent value of your Bitcoin in USD, and depreciate in value if BTC price falls. The up and down of price of bitcoin is fluctuation and you will experience this once you monitor or study how your Bitcoin savings goes up in value in.

BossMacko

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If i do have a lot of Bitcoin then what i will do with it is spend some in Investing alt coins who have potentials in the future and i will also save some for future use especial for occasion and emergency.

Bluestreet

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I say that both are a waste of time and potential, you should invest it. Investment gives more returns than saving or spending the equity.

BingoDog

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I would say both. Bitcoins are not made just to sit idle in your wallet and it's good for coins to circulate. O don't know how.much exactly you mean by lot of bitcoins, but let's say that I would spend about 30% of the whole amount and the rest I would save and invest. Part of investment profit I would also spend and part invest further.

Hasbro27

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If I have a bitcoin, I will use 20% for shopping and the rest to invest Roll Eyes

cyclotronmajesty

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Even if I have lot of bitcoins I will not spend them now and will save them for future and will spend them only when price goes higher to get more profits from it as price is good now but I am expecting much higher price from bitcoins which is possible in future.

stripykitteh

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Quote from: Sled on June 29, 2017, 07:23:24 AM

Quote from: Amph on June 29, 2017, 06:47:27 AM

I would save for now the value will likely increase again, but if you really need to spend because of emergency then do it of course

anyway no matter the amount I would try to avoid to dump for fiat better to use them as a

it must be said that if you have few bitcoin it better to not spend them because from now it's hard to get more

Yes as long as you don't need it for something like emergency then do not sell your bitcoin and just hold it for long term and just continue to increased it more because now a days it is harder to get more bitcoin and it is not that easy to buy it or earn it because you need to put a lot of effort for it before you get it. Bitcoin price for the future will going to be big and we should be ready for it by getting more bitcoin in our wallet.

It's pretty much money to play with since the money isn't needed for anything other than to invest in something. Having Bitcoin sitting around during the current price is a wise choice because the price of Bitcoin could go up, if the investor doesn't really need the money then why worry?

hurain

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Quote from: Weatherby on June 28, 2017, 04:19:42 PM

Quote from: pealr12 on June 28, 2017, 10:50:23 AM

If i have 5 to 10 bitcoin i will convert it into fiat and spend them all. Buy all the needs of family ,start a new business and live a happy life. Im not a holder and i only losing the opportunity if i hold my bitcoins for a long time.

You already said why you wont be holding a few bitcoins. Tongue

If your plan is to sell the coins then you wont be able to accumulate for the future,the best plan would be to start investing in promising projects and make sure that you will wait till you attain a good profit and then think about selling and setting up a good business.

i do not think that there is any such good business which can give you such a good profit that we can get from bitcoin. if you will hold your bitcoin for a long time you will certainly get a good profit that you cannot even expect from other business, but you must be patient and much have the power to hold bitcoin for a long time.

Xester

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Quote from: Sled on June 29, 2017, 07:23:24 AM

Quote from: Amph on June 29, 2017, 06:47:27 AM

I would save for now the value will likely increase again, but if you really need to spend because of emergency then do it of course

anyway no matter the amount I would try to avoid to dump for fiat better to use them as a

it must be said that if you have few bitcoin it better to not spend them because from now it's hard to get more

Yes as long as you don't need it for something like emergency then do not sell your bitcoin and just hold it for long term and just continue to increased it more because now a days it is harder to get more bitcoin and it is not that easy to buy it or earn it because you need to put a lot of effort for it before you get it. Bitcoin price for the future will going to be big and we should be ready for it by getting more bitcoin in our wallet.

I agree. Why would you spend your bitcoin just for nonsense things. But yes of course if you need to spend it badly then you can. You can actually save and save and when the need arises then you have money to spend. Maybe because of the increase of its demand bitcoin price goes higher and higher does having it hard for everyone to at least earn some more.

msarro

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Quote from: kpcian on June 29, 2017, 07:40:13 AM

If I have a lot of bitcoin then I would have saved it for the future purpose, day by day the value of bitcoin is increasing at a increasing rate, so in the future it will be a great asset for me, so saving would be a good decision rather than spending this day.
It is wise to think today for the future....

Yes its good to save them for future as spending now will take away an opportunity of making higher profits in future and right now for spending we have fiat which also not too hard to earn so spend fiat now and save bitcoins for the future.

FlightyPouch

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Quote from: kpcian on June 29, 2017, 07:40:13 AM

If I have a lot of bitcoin then I would have saved it for the future purpose, day by day the value of bitcoin is increasing at a increasing rate, so in the future it will be a great asset for me, so saving would be a good decision rather than spending this day.
It is wise to think today for the future....

I think I will do too, especially when everybody knows that the lrice will be having a pump later on. But there are a lot pf instances that we need money quick for something we need. When we have something to pay or we are short for a day, we can use our bitcoins to get some extra money. But it is really good to save them especially for the future.

kpcian

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If I have a lot of bitcoin then I would have saved it for the future purpose, day by day the value of bitcoin is increasing at a increasing rate, so in the future it will be a great asset for me, so saving would be a good decision rather than spending this day.
It is wise to think today for the future....

fancy_pants

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Quote from: Sled on June 29, 2017, 07:23:24 AM

Quote from: Amph on June 29, 2017, 06:47:27 AM

I would save for now the value will likely increase again, but if you really need to spend because of emergency then do it of course

anyway no matter the amount I would try to avoid to dump for fiat better to use them as a

it must be said that if you have few bitcoin it better to not spend them because from now it's hard to get more

Yes as long as you don't need it for something like emergency then do not sell your bitcoin and just hold it for long term and just continue to increased it more because now a days it is harder to get more bitcoin and it is not that easy to buy it or earn it because you need to put a lot of effort for it before you get it. Bitcoin price for the future will going to be big and we should be ready for it by getting more bitcoin in our wallet.

Completely agree that now its not easy to earn or buy bitcoins as it was in the past when price was low and now if we want to get even a small portion of it then we need to work really hard and buying now is not easy as the price of bitcoins is very high now.

Sled

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Quote from: Amph on June 29, 2017, 06:47:27 AM

I would save for now the value will likely increase again, but if you really need to spend because of emergency then do it of course

anyway no matter the amount I would try to avoid to dump for fiat better to use them as a

it must be said that if you have few bitcoin it better to not spend them because from now it's hard to get more

Yes as long as you don't need it for something like emergency then do not sell your bitcoin and just hold it for long term and just continue to increased it more because now a days it is harder to get more bitcoin and it is not that easy to buy it or earn it because you need to put a lot of effort for it before you get it. Bitcoin price for the future will going to be big and we should be ready for it by getting more bitcoin in our wallet.

Amph

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I would save for now the value will likely increase again, but if you really need to spend because of emergency then do it of course

anyway no matter the amount I would try to avoid to dump for fiat better to use them as a

it must be said that if you have few bitcoin it better to not spend them because from now it's hard to get more

MostHigh

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i ve seen this question pop up a number of times since i got here and the same answers keep coming in. Before you ask a question go to the search bottom and type the key words and check if it is available on the platform already or there should be moderation on the types of topics here. better still am will say its good to keep bitcoins but bitcoin is a currency and it is meant to be spent. But it is ideal to spend the profit and leave the core which can be further invested or place in safe keeping, which will eventually generate some profits, considering the growth BTC is experiencing

SoulEaterRR

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Bitcoins need to be kept despite the amount. This is a great opportunity for a few years to become a millionaire doing nothing, just wait for the price increase and save your coins.

EXtremeAEX

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I would not consider having less than 20 BTC as a lot, but I would spend a part of them if I really had that much, to use it for what I want, because thats what Bitcoin is for anyways, to store your coins as an investment. Really depends on yourself (How greedy you are Tongue

) for when to save/spend, but if you are still starting out, I suggest save.

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