You should spend bitcoin, but with the knowledge that future you may regret doing so. 😬
Discussion
Perhaps one can thread the needle if one spends and enjoys life at a slower rate than Bitcoin grows, say, 5-8% of the 5 year trailing average price. The future compounding math is still nutty.
I’m holding to all the money in world collapses into bitcoin.
Vape stuff and Doge paraphernalia here. Couple of GPUs for miners. And lordy, the gift cards.
That‘s why earning BTC is so great. You spend and replace.
The cost of opportunity you're incurring is exactly the same as if you spend bitcoin bought with fiat. In the end you're losing bitcoin.
You mean someone who earns bitcoin only shouldn’t spend? Tell me how this person shall pay their bills?
Some of them will lower their standard of living, to avoid spending Bitcoin.
This is the way
The way is to always be frugal and prudent, regardless of the currency, and spend intentionally, deliberately, and charitably.
Fiat shouldn't make us spendthrift.
Bitcoin shouldn't turn us into misers.
Being born in between the UNIX epoch and world war 3, being frugal and prudent means minimizing economic activity until far into or after the war. Especially in the US where I live and all economic activity is harshly dealt with. The colder your Bitcoin is in this period of time, and the less you participate in the rush to destroy natural resources, the more potential future wealth for you and everyone else.
I disagree, as I'm actively trying to improve things, but perhaps we will both be proven right.
indeed bitcoin should turn us into mises ;)
Not misers :)
yeah, miser, mises, different lol
we WANT bitcoin to turn people *on* to mises (satoshi was a big fan btw)
Spoken very poetically!
I spend Bitcoin! Not huge amounts, and I try to purchase things that, if the BTC price skyrockets in the future, feel like they're still valuable to me in my life (for instance, I bought a suspension upgrade on a car I own, which increases the quality of my life and if it turns out it "cost me" a lot in the future, I'll still enjoy the smooth ride).
I have two DCAs for Bitcoin.
One for self-custody stacking and not spending.
The other that stays on an exchange connected to a debit card that spends from my Bitcoin balance.
The latter is _sort of pointless_ because the merchants are still getting USD, but it feels aligned to me to be spending some Bitcoin. Ideally, those merchants would take BTC directly and not require this debit card runaround, but until lightning gets there and merchants start coming around, it's partially in the right direction.
At least people sometimes see the Bitcoin logo on the card and occasionally ask about it.
The suspension upgrade was a proper onchain payment and that felt WAY more exciting than the daily debit card purchases.
Mass adoption and usage brings value. Not a few horders sitting on it till death.
Use it, spend it but remember that there won't be any helicopter #bitcoin
As already happened many times 😖😂
People who say they will never spend bitcoin lie
They Lie Hard with a Vengeance
Dealing with Bitcoin's deflationary nature, while continuing to lead a happy life, will be a challenge for many people.
Some will look back and say,
Why did I spend my Bitcoin on good food? I could have saved it, subsisted off of bread and water for 10 years, and now that money would be enough to buy a mansion.
You can drive yourself mad, this way.
Work hard so you can have good food (or whatever other consumption you value) now **with savings left over**
Use the savings to eventually ensure you can always eat good food (or have whatever else you wish to consune) even after you work, until you pass away.
Don't harm anyone in the process, it's not necessary for success
This is the first rational take I've seen about why cryptocurrency can't or shouldn't be treated that way. And it's getting put on blast by a self proclaimed cryptocurrency guru.
I think you said the quiet part out loud and he did not like that.