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    Author Topic: Are You Spending Bitcoin?  (Read 8969 times)

    • Winner
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    September 02, 2014, 11:19:17 PM
     #121
    spent over 80+ btc on altcoins -_-

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  • QuestionAuthority
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    September 02, 2014, 11:28:17 PM
     #122
    I'm not really spending them anymore. I spent a lot of them monthly when I was mining Bitcoin. I paid as many of the mining bills as I could using Bitcoin. I even bought box fans to blow on the mining rigs using an Amazon gift card from SpendBitcoins. Now that I don't mine anymore I hold them. I know I should spend them and replace the ones used but that's too much of a hassle and I'm lazy.
    The merit system isn’t working. Read this thread to see why.

  • Bit_Play
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    September 02, 2014, 11:29:46 PM
     #123
    Yes paying webhosting services Smiley

  • virtfund
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    September 03, 2014, 12:15:32 AM
     #124
    It will be bad for the price of Bitcoin, but it's important that people spend anyways. This is what will continue to get businesses to accept it and make people want to keep working on it.

  • dankkk
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    September 03, 2014, 02:06:18 AM
     #125
    Quote from: QuestionAuthority on September 02, 2014, 11:28:17 PM
    I'm not really spending them anymore. I spent a lot of them monthly when I was mining Bitcoin. I paid as many of the mining bills as I could using Bitcoin. I even bought box fans to blow on the mining rigs using an Amazon gift card from SpendBitcoins. Now that I don't mine anymore I hold them. I know I should spend them and replace the ones used but that's too much of a hassle and I'm lazy.
    Coinbase has a feature that is called something along the lines of spend and recharge. It allows you to buy something with bitcoin in your coinbase account from a merchant that accepts bitcoin then coinbase will purchase an equal amount of bitcoin for you (debiting your bank account) so you end up with the same amount of bitcoin.

    I think this is actually quite smart on their end because they would be making two fees, one from you repurchasing the bitcoin from them and one from the merchant.

  • chassis
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    September 03, 2014, 02:08:14 AM
     #126
    Quote from: jeromanomic on August 10, 2014, 11:29:17 AM
    I just read this:
    http://www.finance-guy.net/finblog/how-will-you-spend-your-bitcoin/10/8/2014

    It raises an interesting point that if we spend Bitcoin to buy stuff, the companies will most likely sell the BTC pretty quickly.

    What do you think?

    Will shopping with Bitcoin be good or bad for the price of BTC?

    it is definitely good for the price, i mean it will affect other people' s opinion towards BTC, and push the government to accept it further,
    meanwhile it will promote the popularity of BTC, which is quite good for raising the price of BTC.

  • QuestionAuthority
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    September 03, 2014, 03:25:11 AM
     #127
    Quote from: dankkk on September 03, 2014, 02:06:18 AM
    Quote from: QuestionAuthority on September 02, 2014, 11:28:17 PM
    I'm not really spending them anymore. I spent a lot of them monthly when I was mining Bitcoin. I paid as many of the mining bills as I could using Bitcoin. I even bought box fans to blow on the mining rigs using an Amazon gift card from SpendBitcoins. Now that I don't mine anymore I hold them. I know I should spend them and replace the ones used but that's too much of a hassle and I'm lazy.
    Coinbase has a feature that is called something along the lines of spend and recharge. It allows you to buy something with bitcoin in your coinbase account from a merchant that accepts bitcoin then coinbase will purchase an equal amount of bitcoin for you (debiting your bank account) so you end up with the same amount of bitcoin.

    I think this is actually quite smart on their end because they would be making two fees, one from you repurchasing the bitcoin from them and one from the merchant.

    Yeah, that whole "debiting your bank account" isn't working for me. I don't trust companies that have been around for 40 years to automatically debit my account. I'm certainly not going to trust two kids that have been running a Bitcoin business out of an apartment in San Francisco for a year and a half.
    The merit system isn’t working. Read this thread to see why.

  • Snorek
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    September 03, 2014, 03:35:13 AM
     #128
    I am spending bitcoin. I try to use bitcoin as traditional currency. It is the way it suppose to be in my opinion. Not stacking it and waiting for higher price...

  • ClownHunter
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    September 03, 2014, 03:39:57 AM
     #129
    Quote from: Winner on September 02, 2014, 11:19:17 PM
    spent over 80+ btc on altcoins -_-
    I don't think this so much counts as spending your bitcoin, but is rather speculating that the price of a scamcoin will increase.

  • Snorek
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    September 03, 2014, 03:43:52 AM
     #130
    Quote from: ClownHunter on September 03, 2014, 03:39:57 AM
    Quote from: Winner on September 02, 2014, 11:19:17 PM
    spent over 80+ btc on altcoins -_-
    I don't think this so much counts as spending your bitcoin, but is rather speculating that the price of a scamcoin will increase.

    I feel the same way. But if you are certain that your ability to speculate with alt coin is great you can earn. But most of the time I see massive loss only...

  • Nawaytes
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    September 03, 2014, 03:46:13 AM
     #131
    I've invested some business with bitcoin Cheesy and take profit from it ,
    what it can call spending bitcoin Cheesy

  • Winner
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    September 03, 2014, 03:56:33 AM
     #132
    Quote from: Snorek on September 03, 2014, 03:43:52 AM
    Quote from: ClownHunter on September 03, 2014, 03:39:57 AM
    Quote from: Winner on September 02, 2014, 11:19:17 PM
    spent over 80+ btc on altcoins -_-
    I don't think this so much counts as spending your bitcoin, but is rather speculating that the price of a scamcoin will increase.

    I feel the same way. But if you are certain that your ability to speculate with alt coin is great you can earn. But most of the time I see massive loss only...

    I should've said I lost 80+ btc on altcoins lollll

    so far bought nothing with my remaining btc

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  • tzortz
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    September 03, 2014, 04:09:04 AM
     #133
    I believe most keep them until it goes high to the sky.
    All is Mine!

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  • keithers
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    September 03, 2014, 04:16:36 AM
     #134
    Are any of you spending BTC on subscription based services?   If so, do you need to manually pay each month, or does it automatically re-calculate the amount of BTC that is due each month (depending on current prices)?

  • Timetwister
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    September 03, 2014, 08:22:26 AM
     #135
    Quote from: virtfund on September 03, 2014, 12:15:32 AM
    It will be bad for the price of Bitcoin, but it's important that people spend anyways. This is what will continue to get businesses to accept it and make people want to keep working on it.

    Why is it bad? Spending them is good for its purchasing power, as more people realize that it's useful.

  • MaryKris
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    September 05, 2014, 05:47:55 AM
     #136
    yes.. spending it with services and some sort of stuff. What is your first thought if you are not spending your bitcoin..
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  • JazzCouncil
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    September 05, 2014, 06:37:31 AM
     #137
    I spent some BTC on services, and still holding the rest... Oh wait, i also bought altcoins.
    When i see some cool company starting to accept bitcoin i will buy stuff from them with great pleasure.

  • David1978
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    September 05, 2014, 07:29:26 AM
     #138
    I spend and then replace them. Then spend again Cheesy

  • arxwn
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    September 05, 2014, 07:45:53 AM
     #139
    The important thing is for the bitcoins not only to be spent but actually invested into bitcoin generating companies.

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    September 05, 2014, 10:43:42 AM
     #140
    Quote from: arxwn on September 05, 2014, 07:45:53 AM
    The important thing is for the bitcoins not only to be spent but actually invested into bitcoin generating companies.

    True, but it's quite hard to find any good company to invest. There are many risks. Even more if you use an intermediate, like Havelock Investments.
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