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> why sell or ever use it if it continues to go up because you need to eat and live and pay your bills?
by keymone 5y ago
> why sell or ever use it if it continues to go up
because you need to eat and live and pay your bills?
- endisneigh 5y agoYou don’t need to sell your coins to get cash to use.
- keymone 5y agothat's sort of baked in assumption in questions like that: all your assets are in coins, why would you ever sell them if their value only goes up? because living involves consumption of various resources, other than just coins.
- ur-whale 5y ago> You don’t need to sell your coins to get cash to use. OK ... please explain? Are you talking about taking loans using your coins as collateral? With the kind of volatility BTC exhibits, that's quite a gutsy proposition. Any other way to get cash without selling your coins?
- bhaak 5y agoHow about not putting cash that you need to live into a deflationary asset you don't want to sell? There is no place on Earth where you need to spend Bitcoin to live. There is always another option. If you believe Bitcoin to be better money than Fiat then you won't spend Bitcoin and Gresham's law applies.
- SilasX 5y agoTrue, but if you mean borrowing against them, then you risk getting margin called and having a forced sale at a far worse price.
- progforlyfe 5y agoTrue, but you could use a little to buy stuff off Amazon for example. Think of it like an automatic discount. I use purse.io for this along with dollar cost averaging.