but then i figure if folks like me we not actually using bitcoin what good is it?
so, no regerts.
Fuckin' a dude.
If nobody uses said commodity for its intended purpose, it is indeed no different from a Ponzi scheme. I can't help but think if there was more people with your mindset, Bitcoin would have arrived to a greater degree within the mainstream than it currently has. However, it is doing just fine, so hodlers HODL on, if you must.
I'd be a millionaire by now if I didn't keep spending 0.1BTC here, 0.05BTC there on takeaways and stuff over the years.
I like to think I helped the cause.
Though in reality, it probably ended up in the hands of whales :/
If you are in the accumulation phase of your bitcoin, then any spending of bitcoin should be obviously considered as having a replacement (a subsequent buy).
Once you get to your maintenance or liquidation phase, then you are likely to have a bit more flexibility, which might allow you to consider the size and/or portion of your bitcoin a little bit differently, and surely maintenance means what it's name implies.....
In other words, no matter what phase you are in, you should be considering how you are spending your money in terms of gresham's law, and of course, spending the worse monies first, and if you are really depleting the size of your bitcoin holdings because of spending, then you likely have invested too much into bitcoin.... I am not saying that there is NOT any value in spending bitcoin, and I have spent some and found some value in trying to play around or figure out the bitcoin ecosystem in that direction... ... and so spending bitcoin would merely amount to whatever it's dollar value at the time, and so who fucking cares if it would add up to a $million right now.. because you still have to live, and most people can only stock so much away into investing, anyhow.
Right, I mean this all makes sense to me, but at the end of the day, Bitcoin's utility is what gives it its value. Gold doesn't have value just because it is scarce, it has value because you can do cool and/or useful shit with it. If everybody just HODLs bitcoin and nobody actually uses it, then we have a Tragedy of the Commons type situation on our hands where everyone is acting out of selfish interest at the expense of the common good, which inevitably dooms everybody.
Then there's this line of reasoning which I think is also relevant:
You are making the same point twice... and quoting Eric Voorhees... and both of you are incorrect... Fuck that bullshit.. .
Of course, you can spend bitcoin if you like, and there are plenty of folks spending it, but there is no reason to rush into such attempting to assert that bitcoin is less valuable because you cannot spend it enough today... Yeah, it would be nice to ask my neighbor to take some bitcoin from me, but more than 90% of my neighbors don't know what the fuck bitcoin is...
I don't give any shits, and I can spend other kinds of money until they start to catch on and they end up buying from me at $75k... or whatever is the price when they start to understand the value of king daddy...
Anyhow, if you have other kinds of money to spend, then spend that crap, first. The spending of bitcoin and the desire to spend bitcoin will come when it comes.... and surely, if had some kind of emergency, I can cash out some of my bitcoin for that, even if the vendor is NOT going to take it directly..,. There continue to be avenues to cash out bitcoin.. at least, so far, even though there does seem to be some passive/aggressive wars on bitcoin too.. such as shutting down of Local bitcoins and such as exchanges becoming more hostile and freezing liquidation avenues.
Regarding gold having value, it likely has less value because of its various utilities like industrial uses and jewelry.. I doubt that gold has value because of those industrial uses.. even though having gold as jewelry can be a decent way to transport some value without anyone really noticing..
Gold seems to get a decent amount of its actual value from its scarcity and durability, and sure tangibility used to be a thing with gold and to be able to show it off.. and perhaps some of that tangible value in gold might come back during an apocalypse, Armageddon or something like that, but I am not going to spend much of my energies preparing for Armageddon.
Most of us here should realize that bitcoin's value comes way the fuck more from how valuable it is in the scarcity sense and the ongoing sound money aspects including future expectations regarding how it's various use cases and adoption will continue to increase because of its soundness.
Sure there are some systems in bitcoin that are going to be developed and continue to be developed to allow increased means to spend or cash out of bitcoin (and maybe even awareness will make it easier to just ask your neighbor if they will accept the payment in bitcoin), which surely are good things, but still no need to rush that shit.. and let those various shitcoins take up some of that spend as soon as possible space... that is if anyone trusts to hold any of those shitcoins long enough to transact in them..