The Bitcoin pizza story is often cited as one of the most famous examples of early Bitcoin adoption. In 2010, a programmer named Laszlo Hanyecz paid 10,000 Bitcoin for two pizzas. At today’s prices, those pizzas would be worth over $100 million.
While HODLing has become a popular strategy for long-term Bitcoin investors, spending your Bitcoin on pizza is a great way to show support for businesses that accept cryptocurrency. Plus, it’s a fun way to show off your Bitcoin wealth to your friends. Who doesn’t love pizza?
Here are five reasons why you should spend your bitcoin instead of HODLing!
Table Of Contents
- 1 Bitcoin is meant to be spent, not held
- 2 Spending your bitcoin is the only way to truly support the network and its growth
- 3 Spending Bitcoins helps to drive adoption and increase mainstream awareness
- 4 Help build the Bitcoin economy by supporting businesses that accept bitcoin
- 5 Bitcoin can be used to donate to charities
- 6 Summing it up!
Bitcoin is meant to be spent, not held
Nowadays, there are many ways to spend Bitcoin. Spending Bitcoin on something we really want is a popular way to spend it. We can buy anything from plane tickets and sign up for online courses with our Bitcoins. People also use it to buy gifts for family or friends, put their Bitcoins in an IRA or invest them in stocks and bonds. It doesn’t matter what country you are in as you can use your cryptocurrency card anywhere in the world.
We should be spending our bitcoins more often than holding onto them because the more we keep sitting on Bitcoin, the more it will lose its value overtime and we will miss out on opportunities to buy other coins that are cheaper right now.
Spending your bitcoin is the only way to truly support the network and its growth
Bitcoin is the world’s most valuable cryptocurrency and one way to support its growth is by spending it.
If you hold bitcoin and don’t use it, you are wasting your investment because, over time, bitcoin price will go up and your money will be worth more than if you had spent them.
With this in mind, there are many ways to spend your bitcoins: flights to different countries, clothes, services and products from merchants who accept bitcoin as payment.
When you buy something from a store, the obligations of your purchase are fulfilled. The store has what they wanted and you have what you wanted. But when it comes to bitcoin, the transaction is unfulfilled.
That’s because you have not supported the network by spending your bitcoins and contributing to its growth.
So when it comes down to it, spending and trading your bitcoins though bots such as bitqt app is the only way to actually support bitcoin’s network and its growth.
Spending Bitcoins helps to drive adoption and increase mainstream awareness
Bitcoin is no longer something that is only perceived as a tool for the online dark-web. These days, it is used in a growing number of cases, for example for remittances, translations or to pay for goods and services.
This has spurred many retailers to start accepting Bitcoin alongside fiat currency options as a means of payment. That, in turn, has led to an increase in mainstream awareness of the currency and an increase in adoption rates.
As of January 2018, the total value of all bitcoin in circulation was about $230 billion US dollars. Bitcoin is an investment opportunity for those who believe in it and have faith in the future of this currency.
A lot of bitcoin spending doesn’t feel like spending at all. There are many sites where you can trade goods and services for bitcoins. You can also set up recurring payments to friends or family members in other parts of the world now too. One more reason to use your bitcoins – if you’re a business, accepting bitcoin from customers will make them more likely to recommend your business to their friends and family.
Help build the Bitcoin economy by supporting businesses that accept bitcoin
The most popular way for Bitcoin owners to secure their wealth is by HODLing – which is a term for buying and holding Bitcoins. However, there are other ways to help Bitcoin grow as an economy: one of them is by spending it. Spending Bitcoin strengthens the Bitcoin economy and helps new businesses start up without risk from volatility of price.
The act of spending and not hoarding Bitcoins will lead to more “buzz” in the industry and entice other investors to spend their coins instead of HODLing them.
Spending also provides a source of income for people who may otherwise try their hand at traditional jobs – it can be also used as salary or even to pay rent.
Bitcoin can be used to donate to charities
Digital currencies are not just an alternate form of currency. They are an investment opportunity, too. For some people, investing in cryptocurrencies is their only investment strategy.
Some people might argue that the best way to use cryptocurrencies is to HODL them with the belief that they will increase in value over time, but this can be risky as there is no guarantee that they’ll go up in value or even maintain current rates. Investors often forget about charities when it comes to spending money and donating time or resources and this could be a missed opportunity for both donors and charities.
Cryptocurrencies have shown the ability to make a difference in these types of organizations fundraising efforts, so it makes sense for investors to think about how they could support these organisations through a crypto donation.
Summing it up!
If you have Bitcoin, don’t just hold on to it. Spend it on pizza! By spending your Bitcoin, you are stimulating the economy and helping to ensure that it will continue to grow. So next time you have some Bitcoin, don’t hesitate to use it to buy some pizza.