If You Could Spend Your Crypto Like Cash Would You?
Bitcoin and other cryptos are becoming more and more easier to spend. More relators are accepting them in Japan and there are a few cards that are coming out where people can put their bicoin or ethereum on and use them as they would a debit card. If they work they should be as accepted as visa and the cap would be closed. You do not need a bunch of stores to accept crypto just a card that does the job of a visa.
But here is the question. If you could go to the store and spend your bitcoin or eth like cash, would you? I do not think I would. Right now I am looking at coins as an investment which means I do think the price will go up. Yes I can be wrong, even very wrong and lose money, but, I am investing with the idea that I will see returns. Because of that I do not want to spend them unless it is for another investment. Maybe in a few years when prices stabilize but for now I do not think I would do it.
How about you? And what about steem, would you use your steem to buy a burger?
**@funny is also my account
No way. Hold them and DO NOT sell them :)
I agree, Steem is a sleeping giant and I believe the FOMO will be kicking in soon for many... Once Steemit leaves Beta and gets a couple official phone apps... Well, you all know what the astronomical trajectory calculations are 😄 But with that being said, I would so use SBD at a location if they accepted it or the variety of outputs that Blocktrades allows us to output!
Steem is genius but it had a centralized start (steemit.com) that has been holding it back ever since. Projects such as #SteemConnect have been initiated to decentralized the platform.
The longer it takes for Steem to takeoff, the more likely some other blockchain social platform will usurp Steem. Somebody could easily copy Steem's code and improve on it. A user-friendly Content Management System for the new platform would attract content creators who want to control their web identity and image. The content creators will in turn attract content consumers (everybody else).
I support you on spending SBD. I think it is a genius aspect of Steem that promotes liquidity. It does not appreciate and as such people would be less inclined to hold it.
I don t agree with that , if you are able to spent Crypto like Cash , you would be able to put more cash into crypto. Let me give you a example: You get paid 1000$ a month from your job. If you take the 1000$ at the beginning of the month and convert them into crypto you still have 1000$ worth crypto over the next moth you spent that 1000$of crypto for buying food paying rent ... just like it would be normal cash ... if the Cryptomarket as you are expecting goes up . You will have some money left after spending 1000$ because your crypto earned you some profit.
Not before I burn all the paper ;)
I think i would like to use Litecoin in shops since fees are low. Bitcoin has too high fees. I am new to steemit and I don't even understand whole thing completely. ;P
That is a good factor, if it is better for fees maybe it is better than a debit card.
It's a tough call. I see the cryptos as investments that are expected to appreciate. It's tough for me to use crypto as a currency (ironic) to purchase something that isn't expected to appreciate.
That's where fiat comes in. I do not expect it to appreciate, so I have no problems using it for trade.
Thanks a lot for information
You can see my strategy for investment
https://steemit.com/cryptocurrency/@dobartim/best-investment-strategies-in-crypto-on-stock-exchange
Here lies the problem: if we all hold our crypto and nobody uses them to transact, then the crypto fail to have real world use and as a result their value remains to be only speculative. In my opinion, if we all hold onto all the crypto, we doom the crypto to speculative bubbles.
The naysayers get to say: I told you so.
Spending crypto has its upside: for example, I think Ethereum's value increased because people were willing to spend it on ICOs.
We need to find the right balance between holding and spending crypto. People's individual decisions in a free market will create this balance.
Thanks for information
https://steemit.com/cryptocurrency/@dobartim/best-investment-strategies-in-crypto-on-stock-exchange
You are spamming people all day with this type of message, you should consider personal comments and not spamming with links.
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STOPIt s already possible , have a look at TenX , you can spend Bitcoin everywhere where Mastercard is accepted , and at least where I am from close to every shop does accept it. A lot of people tell they would not spent their money , but if you put your money into crypto and then spent it , its almost the same as useing your money directly . So with arguments like that , instead of buying a pizza for 10 you should invest 10$ into crypto because the value does increase :D