Post
Topic
Board Economics
Re: Don't spend bitcoin. Not now.
by
Oceat
on 05/10/2019, 15:53:51 UTC
Don't spend bitcoin for trading,spend it as money that is what I tried to say.If we keep using bitcoin only as trading purpose then it will never become a main stream payment.

The question I'm always asking people with opinions similar to yours is: Why would I spend Bitcoin that appreciates in  value and not fiat that depreciates?
I have fiat and Bitcoin, every month I earn fiat and Bitcoin. Fiat at work, bitcoin through a sig campaign. Why would I hold my fiat and spend Bitcoin? This is just unreasonable to me. I've been doing the opposite for years now and it's been great for me.
So everyone see the bitcoin as investment thing over currency? There is no doubt that we can get more value for our bitcoin if we hold it for few more years but imagine if everyone think the same then what will happen? More people claim that bitcoin will not be replacing the fiat and people also will trust it over time if the same thing continues so real adoption will never happen,IMO.
Bitcoin was meant to be spent but people took the advantage of holding it because they knew that the price would appreciate in the future. If Bitcoin is not being spent how would it circulate? Well, most people nowadays find Bitcoin as an investment while some find it as a currency. Although Bitcoin may not work without the help of fiat.