Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: TomPluz on October 23, 2024, 06:00:03 AM
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Right now, I am saving some minute Bitcoin via a program that am participating in and I am looking forward to see the price of BTC rise above $150K which can be the time am gonna harvest some to pay for something like an investment. Now, I have this feeling that I should not be spending my Bitcoin for anything and I know that I would guilty if I would do it since we know how Bitcoin is right now and much more into the future...and I feel that spending now can be also be spending my future away.
I am then wondering if what I am doing which is saving can be good for the overall market...or spending it can be a lot more advantageous in spreading Bitcoin to the market just like the fiat money.
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According to my personal concept, it is the storage of bitcoin that will make it value in the long run, the savings that you are better for you and the market as well because it contributes to the high value of bitcoin.
Of course, I do not mind spending some bitcoin when necessary because its primary use is a means of payment, but because it has become a store of value, it is better not to neglect the bitcoin to spend on buying simple daily needs, it is like gold that uses it at important needs only.
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Nice thread TomPluz. Both storage of bitcoin which is known as investing or hodling and spending of bitcoin are both beneficial for the market. The idea is hodling help's or assists in progression of price. When people HODL a particular currency or coin it means such currency has a bullish or progressive potential therefore no one would want to HODL a currency they don't trust. Hodling kind of improves price because of the concept of scarcity and demand.
However on the other hand spending too is very important as it calls for both circulation of the currency (Bitcoin in this case) which in turn increases adoption of bitcoin and we both know that and increase in adoption also means a progress in price.
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Are you actually caring for the market or you caring for your future?. I think Mia Chloe has given you a good response, but you have to understand that Bitcoin appreciates over time, as the activities that we do as individuals such as buying, hodling, etc puts the market inorder, and sometimes otherwise. If what you intend on spending on isn't important, then I see no reason why you should sell your Bitcoin, besides your own fraction of Bitcoin as an individual won't affect the market much compare to when a company like microstrategy sells all their portfolio.
You should probably hodl till the last minute where you just have to do it. The future is more important.
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Right now, I am saving some minute Bitcoin via a program that am participating in and I am looking forward to see the price of BTC rise above $150K which can be the time am gonna harvest some to pay for something like an investment. Now, I have this feeling that I should not be spending my Bitcoin for anything and I know that I would guilty if I would do it since we know how Bitcoin is right now and much more into the future...and I feel that spending now can be also be spending my future away.
I am then wondering if what I am doing which is saving can be good for the overall market...or spending it can be a lot more advantageous in spreading Bitcoin to the market just like the fiat money.
Lolz, man, doing either of this two, which is hold or spend your bitcoin, does not add or remove anything from the market, except you own or have access to alot of bitcoins like say that is worth tens of millions of dollars.
But if you are talking about some bitcoin worth just a few hundreds of dollars, or maybe a few thousands of dollars, I would in the nutshell, without trying to beat about the bush, tell you that selling it won't have any significant effect on the market, as well as holding it doesn't also add anything significant to the market either, just simply do what is best for you and your future, thats all.
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Right now, I am saving some minute Bitcoin via a program that am participating in and I am looking forward to see the price of BTC rise above $150K which can be the time am gonna harvest some to pay for something like an investment. Now, I have this feeling that I should not be spending my Bitcoin for anything and I know that I would guilty if I would do it since we know how Bitcoin is right now and much more into the future...and I feel that spending now can be also be spending my future away.
I am then wondering if what I am doing which is saving can be good for the overall market...or spending it can be a lot more advantageous in spreading Bitcoin to the market just like the fiat money.
Nah spending now is not going to take your future away but if you want to keep your minute BTC in your holding then that's your choice I don't mean to discourage you but if you are waiting for BTC to touch $150k in this bull run then you must change your plans as it is not going to happen in this bull run maybe in the next bull run of 2028 but not now.
I am not also sure but to some extent, we all know this time it can't make that much ATH even if it makes $100k that's is more than enough so don't set higher targets just to meet your required amount of profit instead make a strategy that can make you that much profit even if BTC don't cross $90k.
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If only I had a stable job or source of income I surely had to save my Bitcoins without even having to think of my investments. The only problem with people like me who make a living with Bitcoin is that it will always come out of the wallet because I need to spend it for my family.
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Saving my bitcoins seems like a smart choice, especially with the potential for prices to rise significantly. However, I understand that spending bitcoins can also promote its use as a currency, helping to establish Bitcoin as a viable medium of exchange.
Ultimately, I think my decision should depend on my financial goals. If I believe in Bitcoin's long-term potential, holding it may be the best option. But using a portion can support adoption and the market overall. A balanced approach might be the way to go
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We cannot deny that it is great to store BTC for the long term, because the price can rise and you'll make some profit for yourself. However, it is also good to spend BTC if you can, just a little of it at least, it helps to promote BTC as a currency, which it is. If you find merchants that accept BTC, there is no harm in buying a thing or two with BTC from them.
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If only I had a stable job or source of income I surely had to save my Bitcoins without even having to think of my investments. The only problem with people like me who make a living with Bitcoin is that it will always come out of the wallet because I need to spend it for my family.
If you only focus on investing in bitcoin and altcoin, that's also a good thing because you can profit from trading to meet your needs. Unlike me, I have a business in the real world because that's what makes me always able to hold my coins and never sell them to meet my living needs. I agree with some opinions on this forum, that we must have income and jobs in the real world so as not to interfere with our investment in crypto.
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Bitcoin is both an investment assets and a cryptoCURRENCY, something that you could hold or sell (spend). Too many sellers could be bad but too many holders could be detrimental as well. My personal take on this is do no overthink and just let the market balance things out.
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The two, why i say the two is because if we all keep on spending it, that mean there will be more interesting people willing and ready to sell than those buying and this will only indicate for something related to dumping the coin by doing so, while saving could mean that people were investing in it and holding, while the market remains being more volatile for those buying and selling at the same time.
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I am then wondering if what I am doing which is saving can be good for the overall market...or spending it can be a lot more advantageous in spreading Bitcoin to the market just like the fiat money.
decide what your goals are with bitcoin this will help you make a decision between wanting to spend your bitcoin and saving them
my recommendation to you if you really can’t choose is just do both use bitcoin and help prove that bitcoin is indeed usable for daily life and can actually serve as a currency like fiat but in a more practical and secured way
but if you also want to invest and see your money grow then save some and keep holding until you see profit the good thing about bitcoin is there are so much uses that you should never feel restricted to do only one thing
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Right now, I am saving some minute Bitcoin via a program that am participating in and I am looking forward to see the price of BTC rise above $150K which can be the time am gonna harvest some to pay for something like an investment. Now, I have this feeling that I should not be spending my Bitcoin for anything and I know that I would guilty if I would do it since we know how Bitcoin is right now and much more into the future...and I feel that spending now can be also be spending my future away.
I am then wondering if what I am doing which is saving can be good for the overall market...or spending it can be a lot more advantageous in spreading Bitcoin to the market just like the fiat money.
I don't have this kind of mindset, what I mean is that I used my Bitcoin if needed just like Fiat. But at the same time, I also have some stash somewhere else thru DCA or buying whenever I can.
Because this is something that you create a lot of mental stress on you mate. Just keep it simple as what they say, don't think that you will help the overall market by accumulating, the same thing with using it. I hope you got my point. Just used it as what it was designed by Satoshi and how it involved, as a payment scheme->sound money, investment, hedge against inflation, store of value.
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I believe that you could be created an excellent comment in your post. I also think that it will be best decision for you. We know that bitcoin is one of the best profitable crypto in cryptocurrency market. We also know that bitcoin price is increase day by day. We can see that bitcoin price is now $67k up this time in cryptocurrency market. I think that if we can save our money, it also be best decision for us. Because i believe that in this year bitcoin price will be hit $80k in cryptocurrency market. Then it will be best profitable for us.