Is it wise to spend your Bitcoin | Bitcointalksearch.org

Mauser

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Quote from: Edcrypto91 on April 07, 2023, 03:07:10 PM

Most persons purchase most items using Bitcoin transactions I am of the opinion of hodling instead of spending pls is that a positive mindset?

The question is do you have enough money to make the purchase with Fiat? If so then I would rather keep my bitcoins then spending them right now. In case you don't have enough money and need to sell some of your investments it's okay to take a profit right now. Bitcoin came a long way to come back to the 30k USD levels and it's okay to take a profit now, but you should be aware that long term the price is going to rise higher. What kind of purchase are you going to make? Is it something necessary or unnecessary? You might feel bad in 6 months if you bought something unnecessary with your bitcoins and the price is going to rise much higher.

josephsonand

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If you believe in the future of Bitcoin, hodling is a smart move. Who needs to buy things now when they can be worth twice as much later? Personally, I like to balance my hodling with some occasional spending. That way, I can enjoy the benefits of Bitcoin while still holding on for the long term.

kotajikikox

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Spending our bitcoin is necessary for circulation , but Holding this can also be the best interest as asset but upon reading the thread , I don't see the graph of where did you get that most people are using their bitcoin in online purchasing because i cannot see anything to support this.
even in my circle of friends and groups? we are even harder to have chance spending our bitcoin because there are limited ways of spending those.

Quote from: bosede1 on April 12, 2023, 01:16:21 PM

The first question that comes to mind is what is your motive for buying Bitcoin? if it is to use it for transaction purposes then no worries or the other way round to keep it for investment. I am holding Bitcoin for investment purposes rather than transactional but either way it is positive depending on your decision.

for me it is multi use, buying bitcoin to use in some purchasing power and at the same time holding for future profits.

WillyAp

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Quote from: Edcrypto91 on April 07, 2023, 03:07:10 PM

Most persons purchase most items using Bitcoin transactions I am of the opinion of hodling instead of spending pls is that a positive mindset?

Depending on your mindset. People still laugh about the guy spending 10 000 Btc on a Pizza. In the end a pizza nourishes much more than the data in your stomach. Would the same people still laugh knowing the mines those 10 k a day or an hour?

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Quote from: Edcrypto91 on April 07, 2023, 03:07:10 PM

Most persons purchase most items using Bitcoin transactions I am of the opinion of hodling instead of spending pls is that a positive mindset?

In my opinion I think it is obviously a positive mindset. It is always wise to not spending bitcoin and saving it or holding it for long-term. So I think there is no confusion here that holding bitcoin is better than spending it. And yes, we also need to have the mindset where we exchange bitcoin for goods. I think it will also increase the value of bitcoin so don't worry about it much hold the mindset you have take and I also hold the mindset too that acceptting exchanging bitcoin for items or goods

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Quote from: AHOYBRAUSE on April 12, 2023, 11:15:03 AM

Whatever we do, it's always wrong. Grin

If I think about spending some, the price goes up after.

When I get paid in bitcoin or decide to spend something else, the price goes down.
For some reason I often catch the worst possible time to take whatever action, I don't understand why that is.

That being said, I try to just hold and don't think about it too much. For me at least, it's not wise to spend my bitcoin.

I do not feel this way, on contrary I feel like whenever I buy, it goes up, and whenever I sell, it goes down. I know why this is like that, I buy when it is very low, which means that it can either go even lower, or it has to go up and when it is low that much it is likely that it goes up so I am usually right. Same goes with selling, unless I had to sell for any life issues, then I sell when it is at the very peak, and it usually goes lower.

Last time I bought bitcoin was when it was 18k, last time I sold was when it was 62k, because I know that at some point it has to go up and down on other side. If you buy when it is going up, then it is not a shocker that it will go down after you buy because you were too late.

Ptb73

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You shouldn't think about what is right and what is wrong. You should choose what suits you. If you understand that bitcoin is the money that you can spend and earn, then that's good. If you consider bitcoin as an investment, then this is also good.

Personally, I like bitcoin more as an investment, so I've been keeping it in my ownr wallet for a long time and I'm not going to spend it.

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ammo121810

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Quote from: Edcrypto91 on April 07, 2023, 03:07:10 PM

Most persons purchase most items using Bitcoin transactions I am of the opinion of hodling instead of spending pls is that a positive mindset?

It really depends on the persons who's hodling Bitcoin if they are going to use them in their purchase transaction. Maybe the persons who used Bitcoin in their transactions do have a lot of bitcoin and they do not worry too much on spending. But as for me since i do not have a lot of it i would rather hodl it and add some more for me to have a good profit in the future. But if I have a lot i will do the same.

awik p

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will be a positive mindset if bitcoin holders have experienced profit and need goods to be purchased. so there's nothing wrong with that. but it's a different case if the investment experiences a minus and is used to buy goods it becomes a wrong mindset. because for me a good investment is not that we have to hold it continuously, but we also have to let it go when bullish occurs

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Quote from: AHOYBRAUSE on April 12, 2023, 11:15:03 AM

Whatever we do, it's always wrong. Grin

If I think about spending some, the price goes up after.

Lol, as long as your purchase is essential it is never wrong.

Quote from: AHOYBRAUSE on April 12, 2023, 11:15:03 AM

When I get paid in bitcoin or decide to spend something else, the price goes down.
For some reason I often catch the worst possible time to take whatever action, I don't understand why that is.

That being said, I try to just hold and don't think about it too much. For me at least, it's not wise to spend my bitcoin.

Then the problem is within you. So yeah I agree that just hold your BTC to make things safer in your side.

I never thought that spending Bitcoin is wrong. We need to spend Bitcoin so that its market will never get stagnant. Ever imagine a stagnant market? The stagnant market simply shows that it is dead since there is no circulation around and no exchanges in hands. To make the market alive, there is a need for spending and buying or in short, there should be exchanges in hand. If the volume is huge, then that means the market is thriving and the liquidity of the said asset is strong that every holder doesn't have to worry anytime they wanted to sell their Bitcoin holdings. Spending helps in adoption too since they will make merchants to believe that Bitcoin holders are spending Bitcoin in exchange of services and products thus merchant adoption can commence.

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Quote from: Edcrypto91 on April 07, 2023, 03:07:10 PM

Most persons purchase most items using Bitcoin transactions I am of the opinion of hodling instead of spending pls is that a positive mindset?

It depends on what people buy for BTC, if someone earns money solely in BTC, then its the only way for this person to buy things for a living. The only thing about BTC is that there should always be some protected accounts with some bitcoins to hodl, since long-term earnings are possible. As for earning in fiat and selling collected fiat to buy BTC, then the best way is hodling without financial harm for everyday life, and harm means not only basic needs, but also ways to cope with stress. BTC has gambling aspect, so transforming all the excess money to hodling can lead to ruined expectations, the same can happen if the situation is the opposite: spending all without any coin to hodl. So the main thing is to find the balance of spending and hodling, following this balance will diminish stress. One of the main enemies of balanced hodling is tendency to purchase things impulsively. Knowing personal traits in money managing is highly important for a person to establish the correct balance.

jeraldskie11

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Quote from: AHOYBRAUSE on April 12, 2023, 11:15:03 AM

Whatever we do, it's always wrong. Grin

If I think about spending some, the price goes up after.

When I get paid in bitcoin or decide to spend something else, the price goes down.
For some reason I often catch the worst possible time to take whatever action, I don't understand why that is.

That being said, I try to just hold and don't think about it too much. For me at least, it's not wise to spend my bitcoin.

That is sometimes what we see in the market. When we sold our Bitcoin, the price rose, which we had been anticipating for a long time. You may say you're an extremely unlucky person. But that is no longer the case, and I no longer believe in bad luck. However, I can tell you that you are just in time since there is an unforeseen event. So, instead of focusing your mind on that, replace it with good outcomes so that you don't make bad decisions on your path in the crypto space. Because if you want to hold bitcoin, you will be less likely to change your mind from the outset, and your market outlook will be more accurate.

betMaster

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I believe the main utility for all cryptocurrencies including bitcoin is online payment. it's way easier than going throught the entire banking payment process flow, and saving a bit of money from for lower fees .
However, since bitcoin haven't stopped rising in value since day one of it's creation, people tend to hold, considering it as a '' safe investement ''. It was prooven at multiple occasions that spending bitcoin will eventually turn out to be a wrong decision. I personally believe that spending bitcoin should not be considered as a first option as it keeps gaining value.

suzanne5223

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Quote from: uchegod-21 on April 12, 2023, 12:24:04 PM

Quote from: suzanne5223 on April 12, 2023, 11:47:58 AM

Quote from: Edcrypto91 on April 07, 2023, 03:07:10 PM

Most persons purchase most items using Bitcoin transactions I am of the opinion of hodling instead of spending pls is that a positive mindset?

You and those that spend their Bitcoin holding still have a positive mindset toward BTC since it was created to be the mainstream of payment and an asset. If BTC is not used as a payment method it can't be mainstream payment and if it's not holding for the long term it gets the needed demand to be the world's most profitable asset.

We can just say bitcoin is money and whether you save your money or you use it when in need is upto you. If your income is large you may never touch your savings for any reasons. But if your income is small, you will struggle to hold for a very long time because the need to use your bitcoin will always arise and that will make you spend your bitcoin.
You cannot have health issues and hospitalised and your only money is in bitcoin and you refuse to sell your bitcoin and treat yourself. That is not acceptable.
So treat bitcoin as money.

You have a point. There's truly no reason in having some funds accumulated in Bitcoin somewhere and need it for emergency use and choose not to make use of it. However, we can't just use Bitcoin as a form of money only and ignore it being an essential asset. We are technically denying Bitcoin its main purpose.

KaizenJujustsu

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Quote from: Edcrypto91 on April 07, 2023, 03:07:10 PM

Most persons purchase most items using Bitcoin transactions I am of the opinion of hodling instead of spending pls is that a positive mindset?

In terms of whether hodling is a a positive mindset, it really depends on your goals and circumstances. If you believe that bitcoin's value will continue to rise in the long term and you have a high risk tolerance, then hodling may be a good strategyfor you. But, if you need to make purchases in the short term and are concerned about the volatility of Bitcoin's price, then spending may be a better choice.

It's important to do what works best for you and your financial situation. Wink

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Quote from: mendace on April 12, 2023, 12:57:01 PM

Quote from: Rockstarguy on April 12, 2023, 06:17:52 AM

The truth is that we all will definitely spend the bitcoin that we have, just that everyone has that good time when it is best to spend bitcoin. Hodling bitcoin doesn't mean a particular amount will be as an investment for forever without spending . The main target is to hodl to make good profits then it is the choice for one to decide to sell or not.

One of the purpose of bitcoin is to help to gain financial freedom which means the profit from it must be spent, their is nothing wrong with people spending bitcoin, it is their money and money is made to be spent.

I half agree it is true that it would be appropriate to sell when there is a good profit" however it is also true that if you sell and buy back immediately in Fiat you have not had any losses but at the same time you have moved a small part of the transaction in Bitcoin and that's very important because you're putting cash in anyway.

Making sales at a profit is a very good option, because that's when we can buy something we want or use it to create a business or something that can generate income as well.
It's up to you to sell everything or sell just to make a profit as long as it's for a good cause, most importantly you keep buying back when the price drops and it stays that way. But it's better not to sell all at once and only sell part of the profit and still buy back when the price drops, because in the future the price will increase even more and you will get a more satisfactory profit.

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Quote from: Edcrypto91 on April 07, 2023, 03:07:10 PM

Most persons purchase most items using Bitcoin transactions I am of the opinion of hodling instead of spending pls is that a positive mindset?

Actually it's not wrong when someone wants to spend Bitcoin Assets because everyone will have different assumptions, maybe they do it to meet their very important needs, such as payments in the form of transactions that are important to them, we assume that Holdings are like you better, but which is not very effective when they spend a large amount / spend it all, but this really depends on their needs.

AnonBitCoiner

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Through spending bitcoin one can enhance the uses of bitcoin in daily life so it is a beneficial opportunity for the holders to fulfil their needs. Lots of people do not spend bitcoin for other uses so their bitcoin is save for longer term so he will be more profited.

It does not means that those who are spending bitcoin do something bad but it means that he uses the advantages of bitcoin in daily life but the main thing is that he get deprived of further advancement in the worth of bitcoin to get huge profit. Both uses of bitcoin is necessary to determine that how much bitcoin is important in life and how a major role it play in the economic system of a person because it improves the economic status of individuals.

bosede1

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The first question that comes to mind is what is your motive for buying Bitcoin? if it is to use it for transaction purposes then no worries or the other way round to keep it for investment. I am holding Bitcoin for investment purposes rather than transactional but either way it is positive depending on your decision.

Baoo

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Well, it depends on what situation you are in, some crypto users are actually struggling in life so they need to spend Bitcoin to purchase some basic needs. In addition to that, it is preferable and wise to divide your income into bitcoin for long term investment and stable coins( like usdt and Busd ) for necessary needs such as goods and items. However, it is always up to you to decide not people.

Plus, what’s the point of collecting money if you never spend it? Life is short and time flies, we must enjoy every moment we live, entertain ourselves and buy the things that make us happy. That’s my point of view. And it is pretty sure that Bitcoin is helping us to achieve goals.

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