Is it wise to spend your Bitcoin - page 2.

mendace

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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.

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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 price of Bitcoin is never fixed and its price fluctuates so holding it has the potential of profit and that is why holding Bitcoin is profitable most of the time. And everyone has a plan to hold Bitcoin and earn profit from it. But that's not to say that Bitcoin can't be spent. Money is an invaluable resource in every country and nothing is possible without money. Money is the key to everything so why do people just keep money without spending it?
Bitcoin is digital currency and using Bitcoin is an easy and safe medium for this digital world. So I don't think spending bitcoins is bad idea. Of course, it is foolish to waste bitcoins on unnecessary activities. Bitcoin is not bad to use but it should be noted that it cannot be used for any evil or unnecessary purpose.

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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.

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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?

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.

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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.

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Quote from: blockman on April 07, 2023, 04:22:35 PM

Both are good. In spending, you help the bitcoin economy because just like the typical economy from countries, whenever there's someone who spends, that gives solely back in the circulation.
No one will stop us as well from doing any or both of them. Choose what you think is right for you but always allocate a holding for yourself because that's what everyone knows. We are all aware what's gonna wait us in the future with bitcoin so prepare yourself to keep some.
You're free to spend all of it if you want to but just don't forget that reminder that you should also hold.

Although you're free to spend all your Bitcoin since it's your money and investment and nobody should tell you want to do with your money but it's always better to avoid overspending today so you can be enjoying your life tomorrow because of your good decisions.

Your spending of Bitcoin should be form your spending money and not your investment money. Instead of spending cash, you can be spending Bitcoin but you should never touched money you have kept for investing or already invested into Bitcoin, it should be for holding.

Bitcoin is a currency therefore it can be spent, seeing people's spending their Bitcoin doesn't make them stupid or not understanding how to invest in Bitcoin. You can spend Bitcoin but not selling your investment.

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however, almost everyone has their own way of using the bitcoins they have. if you see that it is not wise, but it could be that the person has a reason for doing that, or he feels that it is something wise. besides, if he spends the bitcoins he has on his needs, then it is something wise. it is like selling bitcoins when there is no other way out. so, it all depends on how the person uses Bitcoin.

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Quote from: mendace on April 09, 2023, 05:47:52 PM

Quote from: imamusma on April 09, 2023, 04:21:06 PM

Spending bitcoin isn't always about buying something with bitcoin, but it's meant for all kinds of things like paying for certain service, gambling with it, selling it for fiat, or whatever.

I'm not thinking about not touching bitcoins, which means I still have very high chance of spending them on variety of things. If one morning I make lot of profit on this investment, then I might consider selling some or all of it. As some have said, you should enjoy your life instead of having to hold on your investment assets forever untouched. Hold now and sell later, that's fine.

You are right to spend them, it is not sensible to keep Bitcoins in your wallet for a long time now. To grow adoption we need to move as many transactions as possible now in order to give a boost. A smart way could be to spend bitcoins on one side and buy new ones on the other through fiat currency.

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.

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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?

I think it depends on where you stand in this matter, if you are a bitcoin investor maybe you need to hold bitcoin for a long time in the process of taking profits, I think that we also have nothing wrong with using bitcoin or spending it on what we want or use bitcoin as a transaction tool like fiat that you use for your business or as a transaction tool in your business.
To be honest, like what I mentioned at the beginning, it depends on where you stand in treating the bitcoins that you have, but I think if you are looking for a better place between these two functions, it is to benefit from investing in bitcoins, in my opinion.

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Quote from: SquallLeonhart on April 12, 2023, 04:34:30 AM

There should be something much better when the time comes, but right now we are already starting to see some people joining the market. Lets wait a bit more, I feel like we are not at the breakout zone yet, it is going up but it is not going up as fast as I imagined it would, at some point there will be an increase that is so fast that we wouldn't know how quickly it got there.

When the market starts to rise, more people want to make a profit and they start buying, but their problem is that you need to buy in a bear market when the price is down, and not when a good increase has begun. And the biggest mistake would be to buy when the price is close to ATH, when all the media will say that this is the best time to invest in bitcoin, then this is a clear sign that it is already too late.

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Quote from: Inwestour on April 11, 2023, 08:11:39 AM

In a bull market, there will be many more willing to spend their bitcoins as they see the valuation of their investment rise. But this is a market where there will always be those who use bitcoin at any time and there will also be those who prefer bitcoin for long-term investments, for 5 or even 10 years.

The adoption of bitcoin will come at a time when states, following the example of El Salvador, will recognize bitcoin as legal tender, when we can pay for goods and services with bitcoin in our daily lives.

I guess it is important to know that during the bull run there are more people who are not afraid, that's why they are spending so much more money. It is obvious that we are not going to get those people to invest when it is going down, there are "some" people who do like me, but there are plenty more people who do it during this period instead.

There should be something much better when the time comes, but right now we are already starting to see some people joining the market. Lets wait a bit more, I feel like we are not at the breakout zone yet, it is going up but it is not going up as fast as I imagined it would, at some point there will be an increase that is so fast that we wouldn't know how quickly it got there.

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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?

No right or wrong answer regarding whether one should hold or spend their Bitcoin. It ultimately depends on one's personal financial goals and beliefs. So it is up to the individual to decide whether having or spending Bitcoin aligns better with their financial goals and ideas.

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Quote from: MaterialMouse69 on April 11, 2023, 07:34:12 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?

For me, use your bitcoin if you badly need that or there's a emergency, if you still good and you still have extra money to buy your daily needs and for that i would prefer not spend your bitcoin. I know that spending bitcoin will help the market to be strong so all you need to do is to be strong no matter what happen, it's like surviving whoever surrender will lost and to those people who stay will will.

True, in some situations it's better to use your Bitcoin. It's just money, after all, it is meant to be spent. Investments are not only for buying houses and Lamborghinis but also for emergencies, that's important to understand.

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When we have an issue, I believe it is a very good idea to use the resources at our disposal to address it. What if you have a problem and the answer lies solely in bitcoin? Wouldn't that be your only asset in solving the issue? How will you proceed? I believe you'll sell it so you may fulfill your financial obligations.
Although it depends on your decision as to how to utilize your coin, you can either hold it for a long time until the bull market arrives or use it when you are experiencing financial difficulties.
Yet, if you want bitcoin to become widely used, using it is the best thing you can do.

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Quote from: Twentyonepaylots on April 11, 2023, 06:08:02 AM

I had the same sentiment since I see bitcoin as a currency that is meant to be used as intended. I think bitcoin adoption would continue if we would let others see it the way it is intended which is to spend and invest. Spending it also helps the market of bitcoin to be stronger so it would continue to be the strongest among the market. Also, having investments yields to profit so as long as you gain the profit that you aim, make sure that you get the profit that you deserve since it would be very rewarding to see the results of your investments. But there are different circumstances, and as long as you are satisfied with you continue holding, then do so.

In a bull market, there will be many more willing to spend their bitcoins as they see the valuation of their investment rise. But this is a market where there will always be those who use bitcoin at any time and there will also be those who prefer bitcoin for long-term investments, for 5 or even 10 years.

The adoption of bitcoin will come at a time when states, following the example of El Salvador, will recognize bitcoin as legal tender, when we can pay for goods and services with bitcoin in our daily lives.

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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?

For me, use your bitcoin if you badly need that or there's a emergency, if you still good and you still have extra money to buy your daily needs and for that i would prefer not spend your bitcoin. I know that spending bitcoin will help the market to be strong so all you need to do is to be strong no matter what happen, it's like surviving whoever surrender will lost and to those people who stay will will.

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Quote from: imamusma on April 09, 2023, 04:21:06 PM

Quote from: ektotanes on April 09, 2023, 01:04:44 PM

Looks like the choice whether to spend bitcoin or not is a personal matter for every bitcoiner.

By spending bitcoin on things, you help the adoption of bitcoin and make it more recognizable. If you hold bitcoin, you can make a profit from it.
I personally choose to hold my bitcoin long-term, it's been in my ownr wallet for like 2 years now. #diamondhands Cheesy

Spending bitcoin isn't always about buying something with bitcoin, but it's meant for all kinds of things like paying for certain service, gambling with it, selling it for fiat, or whatever.

I'm not thinking about not touching bitcoins, which means I still have very high chance of spending them on variety of things. If one morning I make lot of profit on this investment, then I might consider selling some or all of it. As some have said, you should enjoy your life instead of having to hold on your investment assets forever untouched. Hold now and sell later, that's fine.

I had the same sentiment since I see bitcoin as a currency that is meant to be used as intended. I think bitcoin adoption would continue if we would let others see it the way it is intended which is to spend and invest. Spending it also helps the market of bitcoin to be stronger so it would continue to be the strongest among the market. Also, having investments yields to profit so as long as you gain the profit that you aim, make sure that you get the profit that you deserve since it would be very rewarding to see the results of your investments. But there are different circumstances, and as long as you are satisfied with you continue holding, then do so.

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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 I am amazed of where you get that idea about most person purchase most items using bitcoin because more bitcoin owner holds this and only few that use their bitcoin in purchasing and that is the sad reality why this has not been circulated properly.

but the way you ask this thread you are aware of how this work and yes you should either buy and use for purchase or at least buy and hold.
this is your coin so you are the one who must decide what to do.

Quote from: ?? on ??

For me it's more like investment now. But I'm just waiting it to become global

it is global mate , but not completely lol.

but it is such a best interest to keep holding if you are capable in sustaining your living without thinking of your coins.

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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?

Spending Bitcoin helps in the economics of Bitcoin industry. It enables the exchange of hands which attracts Bitcoin adoption. It balances the price of Bitcoin in terms of supply and demand making it less volatile. Hoarding Bitcoin can artificially increase Bitcoin price due to the premise of scarcity but hoarding also means dumping in some point where it crashes Bitcoin price, regular practice of hoarding and dumping makes the Bitcoin market highly volatile and may discourage merchants and other entity to engage in Bitcoin market. So spending Bitcoin can also help in merchant adoption.

These are some of the good effect of spending Bitcoin. As we all know, Bitcoin is created with an original intention to be a currency where it can be used for purchases and not to be hoarded and be a speculative asset.

mendace

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Quote from: imamusma on April 09, 2023, 04:21:06 PM

Spending bitcoin isn't always about buying something with bitcoin, but it's meant for all kinds of things like paying for certain service, gambling with it, selling it for fiat, or whatever.

I'm not thinking about not touching bitcoins, which means I still have very high chance of spending them on variety of things. If one morning I make lot of profit on this investment, then I might consider selling some or all of it. As some have said, you should enjoy your life instead of having to hold on your investment assets forever untouched. Hold now and sell later, that's fine.

You are right to spend them, it is not sensible to keep Bitcoins in your wallet for a long time now. To grow adoption we need to move as many transactions as possible now in order to give a boost. A smart way could be to spend bitcoins on one side and buy new ones on the other through fiat currency.

Topic: Is it wise to spend your Bitcoin - page 2. (Read 717 times)