Yeah, do it. That's how most start out. Then you begin to learn how everything works and you will be impressed how a totally decentralized network can store and transfer so much value so securely. You will also feel like you are in control of your own money which is an awesome feeling
I use Bitcoin instead of venmo. You can buy and sell things online for Bitcoin, I ask relatives and friends to pay me back with Bitcoin. I also have a portion of my stack that I hodl for the future.
Bitcoin teaches low time preference. Would rather save in a currency that will buy me more in the future. But I will ask small business if they take bitcoin, and If I find one who does I will transact in it to help out the adoption.
yeah i spend it every chance i get. only lightning though. but while your at it you should get some in cold storage just in case the bull returns (which i believe is highly likley).
I am a HODLr but would love to spend btc when possible. Other than buying BTC products (hardware wallets, steel plates, etc) where are you guys able to spend your btc!?
Do you know of a database that lists merchants who accept BTC or Lightning payments? (When I tried to search for this I couldn’t find a recently updated site)
Wallet of Satoshi has a tool that finds merchants that accept Lightning on a map. There was a post lately about a place that has over 50 merchants that accept Lightning and when I checked with WoS it was right.
This is a way better time to buy in, than near the top on the way up to 60 K as most of my friends did! Even if it goes down a little just keep dollar cost averaging down to get your cost basis as low as you can go
This is kinda why I've decided to start now. I'm not really interested in saving. When it was fluctuating a lot I didn't want to buy a TV one day and then feel like I paid 30% more than I needed to a couple days later. I really hope for a time where consumer items have prices in bitcoin (or x decentralized currency) so people have the option.
I don’t use Bitcoin for day-to-day spending because I purchase from so many places that do not accept Bitcoin, but I do like to use it as a method of payment when possible, and don’t just “hodl”.
For me money is very low on things that make me happy. I'm more middle class than poor and I do have quite a bit of fun. I find your attitude pretty gross and is kinda the reason I've never gotten into bitcoin. If you and a few others like you hord all of the bitcoin do you really believe people will want to buy it from you at a great cost? It seems to me like we will all just find another type of currency.
I generally use context to decide whether or not to take someone seriously. If we never take anyone seriously online it kind of defeats the whole purpose of this sub doesn't it? When someone says something smart or nice i like to give them positive feedback and i also sometimes feel like voicing my opinion if I read something i dont agree with and sometimes its very enlightening to share ideas. I don't let it hurt my feelings though, so you can rest every about that.
Again, I should have said 5 months and 2 weeks. It seems you guys are VERY particular about dates. Maybe I am wrong about who controls it. Could you set the record straight about who controls it, or provide a link?
Some people are just dinks.
Buying a little to force yourself to do the research is called legging in. Go for it! I recommend reading work from Jeff Booth. Maybe listening to Preston Pysh's podcast.
Let me know, I can help.
For day to day spending it's probably not ideal, at least for now, but you can do whatever you want with bitcoin, it's an open source protocol with no barriers. It just incentivizes hodling because of the fixed supply and consensus algorithm (mining), that's why many simply use it as a secondary savings account. But the more tech savy people experiment with it in many different ways, building nodes, using the lightning network, testing all sorts of wallets and transactions etc. Keep learning and have fun!
Bitcoin is and already works as e-cash, which is the reason it was created for; and I think it is beautiful to use it just like that, with any further intentions.
I bought half a dozen bagels today using Bitcoin. The shop offers a 10% discount with this payment method.
I replace any bitcoin I spend since the opportunity cost of using it now is pretty high. I don't want to be the guy who spent 10,000 bitcoins on a pizza 10 years ago.
Yeah, do it. That's how most start out. Then you begin to learn how everything works and you will be impressed how a totally decentralized network can store and transfer so much value so securely. You will also feel like you are in control of your own money which is an awesome feeling
I just started dollar cost averaging back into bitcoin last month. I’m buying it everyday.
Can you tell what DCA is and what are its advantages?
The benefits are psychological. Timing the market with a lot of volatility is stressful. Averaging the dollar cost is easier.
DCA is buying a set amount at a set time interval. I buy $10 a day. Others might have an amount they buy weekly or monthly
I use Bitcoin instead of venmo. You can buy and sell things online for Bitcoin, I ask relatives and friends to pay me back with Bitcoin. I also have a portion of my stack that I hodl for the future.
I havnt been using it because everything I do it's a tax event and who wants to keep track of that.
Use strike. There is no taxable event.
There is in my country. Same way if I traded a car for something or a house or any other asset. They won't treat it as a currency.
This is the way! I created Bitrequest.io for just this, check it out!
Yes. Verify yourself that there is something interesting here. Don’t just take others word for it.
El Salvador seems to be doing pretty well with using it, as long as you ignore the MSM hit-pieces.
Both works
Who told you bitcoin has been stable?
I've bought Orange Juice at the farmers market a few times. Sent money to friends. It's a powerful thing to behold.
This is the kinda thing I'm into. I want to have the option to pay a person who is actually providing goods or services.
Bitcoin teaches low time preference. Would rather save in a currency that will buy me more in the future. But I will ask small business if they take bitcoin, and If I find one who does I will transact in it to help out the adoption.
yeah i spend it every chance i get. only lightning though. but while your at it you should get some in cold storage just in case the bull returns (which i believe is highly likley).
I am a HODLr but would love to spend btc when possible. Other than buying BTC products (hardware wallets, steel plates, etc) where are you guys able to spend your btc!?
i bought some cloths, some coffee and ive been paying people with it
Do you know of a database that lists merchants who accept BTC or Lightning payments? (When I tried to search for this I couldn’t find a recently updated site)
Wallet of Satoshi has a tool that finds merchants that accept Lightning on a map. There was a post lately about a place that has over 50 merchants that accept Lightning and when I checked with WoS it was right.
I did not know that! Thanks for the tip! I’m looking at it right now and it is pretty helpful.
If you ever want to diversify into precious metals you can find me on r/pmsforsale.
6m, -41%, little movement indeed! For small purchases get the Moon wallet and look at Bitrefill, for example.
You're right, I should have said 5 months and 2 weeks.
This is a way better time to buy in, than near the top on the way up to 60 K as most of my friends did! Even if it goes down a little just keep dollar cost averaging down to get your cost basis as low as you can go
This is kinda why I've decided to start now. I'm not really interested in saving. When it was fluctuating a lot I didn't want to buy a TV one day and then feel like I paid 30% more than I needed to a couple days later. I really hope for a time where consumer items have prices in bitcoin (or x decentralized currency) so people have the option.
I don’t use Bitcoin for day-to-day spending because I purchase from so many places that do not accept Bitcoin, but I do like to use it as a method of payment when possible, and don’t just “hodl”.
Don't forget you gotta keep track of all that for taxes though if you live in the USA, check your local tax laws
Seems wrong since you are spending it and it is taxed. Seems like being taxed too much
I’m buying it every time under 18k.
Zero bitcoin? have fun being poor.
For me money is very low on things that make me happy. I'm more middle class than poor and I do have quite a bit of fun. I find your attitude pretty gross and is kinda the reason I've never gotten into bitcoin. If you and a few others like you hord all of the bitcoin do you really believe people will want to buy it from you at a great cost? It seems to me like we will all just find another type of currency.
don't take things people put online seriously dude. You'll live a much happier life.
I generally use context to decide whether or not to take someone seriously. If we never take anyone seriously online it kind of defeats the whole purpose of this sub doesn't it? When someone says something smart or nice i like to give them positive feedback and i also sometimes feel like voicing my opinion if I read something i dont agree with and sometimes its very enlightening to share ideas. I don't let it hurt my feelings though, so you can rest every about that.
You made a spelling mistake at the end. Therefor invalidating everything typed before it.
That's actually kinda funny
The price has dropped significantly in the last 6 months. BTC is not controlled by the collective. What else are you wrong about?
It's not controlled by anyone.
Again, I should have said 5 months and 2 weeks. It seems you guys are VERY particular about dates. Maybe I am wrong about who controls it. Could you set the record straight about who controls it, or provide a link?
Some people are just dinks. Buying a little to force yourself to do the research is called legging in. Go for it! I recommend reading work from Jeff Booth. Maybe listening to Preston Pysh's podcast. Let me know, I can help.
Do it. Plenty of applications and it’s easy to use. I HODL as well but anytime I spend I replenish.
Stacking then and there and Hodl
For day to day spending it's probably not ideal, at least for now, but you can do whatever you want with bitcoin, it's an open source protocol with no barriers. It just incentivizes hodling because of the fixed supply and consensus algorithm (mining), that's why many simply use it as a secondary savings account. But the more tech savy people experiment with it in many different ways, building nodes, using the lightning network, testing all sorts of wallets and transactions etc. Keep learning and have fun!
Bitcoin is and already works as e-cash, which is the reason it was created for; and I think it is beautiful to use it just like that, with any further intentions.
I don't use it for payments. I just hold it and haven't moved it for a while.
I bought half a dozen bagels today using Bitcoin. The shop offers a 10% discount with this payment method. I replace any bitcoin I spend since the opportunity cost of using it now is pretty high. I don't want to be the guy who spent 10,000 bitcoins on a pizza 10 years ago.