but then i figure if folks like me we not actually using bitcoin what good is it?
so, no regerts.
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:
