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Should we be purchasing “goods” and “services” with precious bitcoin?

There’s a growing trend of businesses accepting bitcoin as a payment, but I’m conflicted as to whether that’s a good thing. Worldwide global currency was the intention for bitcoin, but as it has become more a store of value, I am resistant to parting with it. I think it’s too early for that. As its value goes up with scarcity, these rich billionares are getting greedy and trying to hoard it away from the rest of us. Don’t give them the satisfaction.

No pizza regrets, I’ll hodl my btc thanks, you can have my fiat:
https://news.bitcoin.com/real-estate-billionaire-buys-bitcoin-accepts-btc-rent-payment-residential-retail-properties/

Edit: Someone mentioned that “bitcoin.com” is a scam. I don’t know if it is or not, but here’s another link to the real estate story. Or search for it yourself from your news outlet of choice.
https://www.cnbc.com/2021/04/07/rick-carusos-company-to-begin-accepting-rent-payments-in-bitcoin.html



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10 Comments

  1. No. Don’t let them keep accumulating at your expense. You sell, they buy and hold. Make them use it to keep the market going, they’ve got enough invested that it’s in their best interest. I know as a very tiny fish I’m hodling no matter what. Let the big whales do the heavy lifting for once.

  2. *Unless a merchant is offering something that cannot be bought for dollars, or at least offering a discount, he is only benefiting Bitcoin to the extent that he encourages more hoarding. If he immediately converts the bitcoins he receives as payment into dollars, and if his customers only buy bitcoins so as to spend them at his shop shortly thereafter, then neither has much direct effect on Bitcoin’s demand. The real hero is the hoarder behind the scenes who buys from the merchant and enables him to convert his payments into dollars.*

    **From [this page detailing why hoarding bitcoin is good.](https://nakamotoinstitute.org/mempool/im-hoarding-bitcoins-and-no-you-cant-have-any/)**

    Hoarding bitcoin is good for it’s value. I wouldn’t spend my bitcoin right now because bitcoin is still going through the second stage of the evolution of money, which is a store of value. The next stage of the evolution of money is a widely used medium of exchange. That would be a much better time to spend your bitcoin. [Click here](https://www.reddit.com/r/Bitcoin/comments/ma1y9b/40_yr_old_new_to_crypto/grra6s5/) to see all four stages of the evolution of money.

  3. Bitcoin can only be a store of value if it is used (or expected to be used) as a currency. After all, where else would it get its value from since it has no non-monetary use?

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