Because it needs to be kept alive...
Yes, I admit the title is a bit click-batey - but it is not intended to be...
I mean it very litterally (in the original sense of the word ;D )
And I would like to start by pointing out, that I define a difference between spending your bitcoin, and sellling your bitcoin, because I am not equating the two.
My general trading strategy for BTC - at this point in time, is, that I am a HODL'er for the forseeable future - and my core holdings will most likely not be touched in a while.
But as many other HODL'ers, I am still aquiring BTC on dips today, and regularly add to my trade- and online holdings.
That, however, does not mean, that I do not spend my bitcoin...
In fact, I make a point of spending my bitcoin where-ever I can, no matter if it is worth less than when I bought it, even though this seems counter-intuituve.
But at the same time as I spend my bitcoin, I buy roughly the same amount back as I spend - and maybe add a little more while I'm at it, if the price is right.
Originally, I mainly did it for the purely ideological reason of believing that Bitcoin, as a peer-2-peer "cash" system, that was better than our FIAT currency, and I wanted to support the growth of the Bitcoin eco system and its application as a currency.
And using Bitcoin as a currency, has naturally led me to futher reflect, on how this is actually a good thing, even though it can be a cumbersome experience at times.
But today I do it for several reasons, and have actually found that beyond supporting the growth of the eco system, I can actually gain monetarily, just by timing my spending habits and using different cash-out methods, depending on the state of Bitcoins volatility at any given time.
I will try to expand on the above in my next post, for those who are interested in how you can actually gain extra short term purchasing power at times, while accumulating more Bitcoin at others, and what methods have worked for me to do so.
Brevity is the soul of wit - and longevity the soul of the contemplative!
#0.0 - Who am I, and how did I get here? [intro]
#0.1 - Who am I, and how did I get here? [pt. II
#1.0 - How the DeepWeb made me a HODL'er
#1.1 - The power of addiction...
#2.0 - If something seems too good to be true...
#2.1 - Is Bitcoin the exception to the rule..?
#3.0 - The revolution that never came... [Pt. I]
#3.1 - The revolution that never came... Or did it? [Pt. II]
#4.0 - Is Bitcoin doing its job?
#4.1 - Is Bitcoin working... and are you putting it to work?
#5.0 - Why you should spend Bitcoin NOW, no matter what the price is...
You are an advocate for Bitcoin...... Nice post, I keep learning from your posts about bitcoin. Thanks for sharing.
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Thanks for following along - and yes, I am indeed - I want everyone to use it. :)
But I am not a Bitcoin maximalist.
I like several ALT coins as well, for many reasons.
I believe in what works best at any given time - for any given objective -and someday something better will come along - but that is not worth thinking too much about, until it starts happening :)
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Nice....
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Good idea. I got the point. Nice post
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Thanks - always afraid I get too deep into my own head when trying to explain stuff :D
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Really nice your post and very informative!
It has clarified some concepts. Thanks!
I'll be waiting for your next post that promises to bring more information of interest.
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Thanks for the compliment - I'm thrilled to hear, whenever people are getting something out of my posts, and to see people follow along in this learning experience and experiment... :)
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Thank you for sharing your ideas that allow us to grow through them!!
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It's an absolute pleasure :)
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Looking forward to the next post to read some more info,tips and tricks for spending bitcoin.
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It might get a little more dry than I want a post to be - but hey, they can't all be pinata posts :P
And it's been worth it for me to experiment - in the last insane bullrun, I actually ended up having MORE at the end of the month, than when i started, without changing spending habits, and just sticking to my "system" :D
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Only through circulation can we protect bitcoin and cryptocurrency from being a bubble that goes away.
Spread the love.
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Couldn't agree more - and it will help challenge scalability, to the point where we will evolve faster :)
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You got a 3.25% upvote from @upmewhale courtesy of @cryptos17!
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Congratulations @cryptos17! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
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Hi @cryptos17! You have received 6.3 SBD @tipU upvote
from @jbohnsen !
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