Xpost from xitter because curious to hear if or how reactions diverge. So.
..If someone says they never spend their bitcoin
Or they advocate against spending bitcoin as money
My first thought is, “ok how else is this person a spook”
Discussion
Interesting how everyone had their perspective about something they don't fully understand, know it might affect them, and how they react to it.
Bitcoin is like a massive gravity anomaly, and each study it in their own way.
While I do spend small amounts here and there. Like with zaps and maybe vendors who take it.
I certainly don't plan to spend the bulk of it until we have a good idea of where this price is going to end up.
Even then, you borrow against assets. You don't spend them.
But you do you.
If you understand Bitcoin then you spend it when you can.
I suppose most of the Twitter LARPers said they never spend?
My first thought is that Bitcoin is a novel technology that is destined to be used in ways that best suit the holder of it. That's how free markets work. Not everyone is going to use it the way you do or the way you think they should. And people will likely evolve in how they use it over time. I have.
I agree with all of that and hope people realise how important is it to HODL, and zap / spend
Certainly. I've learned that people in different places have evolved differently. I'm in the US, where most of us tend to hold a lot more than we spend. While other markets are spending more because that's what they need most where they are. It's actually quite fucking beautiful because of how natural it is.
Borrowers mindset 😔
Some of us simply value saving
I think we should spend (or better, spend and replace) to build the infrastructure/adoption for the future. When we are all rich we want to spend BTC directly and not change to fiat to buy stuff, right? But I can see why people don't want to spend their savings stack and that is fine and I don't assume they are spooks.
You may not want to spend at all because you have not much but a 10x from here will change your life in the future, so every sat is precious.
Or another reason would be, instead of spending/selling, you borrow against your BTC and spend stablecoin/fiat instead.
Yeah I agree. Btw I don’t straight up assume they’re a spook - I’m looking for more signals
You can't beat p2p exchanges. Whenever I can I do. Spend and replace.
Not sure what a spook is, but sirens and replace sounds good to me. I saw Bitcoin as savings at first, but later saw that spending it is not only fun but essential, and lightning makes that possible. Breez wallet and others are making it easier to self custody, too. Planning on giving my kids their allowance on ⚡ in the near future, so they'll learn to save and spend.
Based. Every fiat shitcoin you spend is an unrealized bitcoin buy, so it doesn’t matter which currency you spend.
Hodling, or possessing the private key of a UTXO, is already a positive action. Everyone uses Bitcoin as they see fit, and that's a good thing. Not spending at all acts as a deflationary gift for all of us, so there’s no reason to blame anyone—Bitcoin is here for everyone. When it's yours do whatever you want it.
Just my two cents, ehmm... sats.
I work for Bitcoin, I save in Bitcoin, I buy and sell in Bitcoin, I sometimes gift or donate it, and I replace it whenever I can and as quickly as I can. But that's me, and everyone has their own formula, there's no one-size-fits-all.