So if you want bitcoin to succeed! just hold your bitcoins! dont spend them around! you may feel sad and bad if the 200$ you spent could be worth 1000$ tomorrow and that you threw them away cheaply!
No, no, NO! As a strong bullish long-term Bitcoin believer, I completely disagree
Even if you consider your bitcoins as long term investment, rather than spending money - what do you think will help raising the value of your precious bitcoins more:
- 1. Hodling your bitcoins and spending USD, thus only stimulating the USD economy
or
- 2. Spending your bitcoins, thus stimulating the BTC economy, and immediately buying back new bitcoins (on exchange or circle or whatever), thus increasing demand for Bitcoin on the market.
Notice that the end result is the same: you essentially purchased some stuff, lost some USD, and kept your BTC. But with option nr. 2, you're actively helping to raise the Bitcoin price level on two ends: Bitcoin economy AND market demand. I really don't understand why even the most fanatic Bitcoin owners don't seem to get this
Especially if you're a Bitcoin fan, believer, enthusiast, investor, or hodler, SPEND THEM! (And immediately refill your stash of bitcoins by buying new ones with fiat)
By just sitting on your coins, instead of using them, Bitcoin won't grow! Spend them, and buy back at the same time.
I got to be rich to do that..buy an xbox with usd for 300$ or else buy with btc for 600$(to buy equal btc again)
Let's assume you bought 10 BTC for USD 1000 each last year.
Now, you want to buy an Xbox.
Scenario 1:
You buy it with fiat.
You spend 300 USD.
(-10.000)+(-300)=-10.300 [USD]
10 = 10 BTC
Scenario 2:
You buy with BTC and replenish. Assume 1 BTC=300 USD
(-10.000)+(-300)=-10.300 [USD]
10-1+1=10 BTC
Have you lost any money in Scenario 2? No
But you have stimulated BTC-economy.
Have you put selling pressure on the BTC-market? No. The merchant has sold 1 BTC, but you have bought 1 BTC, which nullifies:
(-1)+1=0