Wednesday, June 14, 2023

It's no value to anyone if you don't use it

I recently spent some Bitcoin. Kind of a birthday gift for myself. 

Part of me really hates to spend Bitcoin, I much prefer to HODL... but another part of me knows that spending it-- making it a useful medium of exchange-- is what will, in the long run, make it more likely to increase in value. Sitting on it doesn't do that.

It's kind of like hoarding ammunition and never "spending" any for shooting practice. It doesn't do you much good.

Back when I first got into Bitcoin, I spent some on silver. Multiple times. Now I look at the amount I spent on silver and realize it's as if I paid thousands of dollars per ounce. Ouch! I try not to think about it that way.

But back then my thinking was that if Bitcoin became worthless at least I'd have some silver to show for it. I suppose that's still true, even though I think the chance of Bitcoin becoming worthless-- short of a Carrington Event-- is tiny.

So I'm doing my small part in making the price of Bitcoin go up over the long term. To keep gaining more acceptance as money. You're welcome.

And I still have my smallish nest-egg of Bitcoin. It would be nice to see it get much larger due to the price of Bitcoin going "to the moon". I also accept donations in Bitcoin, too, in case you have some you no longer want.


A (Big) birthday is coming Sunday-- if you want to send a gift.
Thank you!