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1. They are not guaranteed to increase in value 2. Spending bitcoin helps the ecosystem, thereby increasing the value of your other coins in the long run. 3.
by ok_craig 13y ago
1. They are not guaranteed to increase in value
2. Spending bitcoin helps the ecosystem, thereby increasing the value of your other coins in the long run.
3. Having things now is often more desirable than slightly more later.
(You can't eat bitcoin. If bitcoin is all you have to spend, you will spend it on food, because food now is worth more than more valuable bitcoin later. If you also have dollars, then you'd just spend the dollars. If you have dollars and bitcoin, you can spend the bitcoin to help support the system, and replenish it immediately with your dollars.)
- nofi3939 13y agoI would describe #3 more generally by saying that holding BTC creates an opportunity cost, unique to each person's circumstances. Some more reasons: 4. Lower transaction cost (especially for international transactions) 5. If you want to help out the merchant, he may get a lower transaction cost out of it too (if the alternative is credit card, for instance). Edit: Oh, and let's not forget the spend-and-replenish BTC strategy to keep your BTC holdings fixed.
- jljljl 13y ago>> Spending bitcoin helps the ecosystem, thereby increasing the value of your other coins in the long run. One person spending Bitcoin has a negligible impact on helping the ecosystem, so the incentive for doing this is pretty small. You would likely gain a bigger benefit holding on to your BTC and letting other people help the ecosystem.