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RE: Maybe People Don't Spend Bitcoin Because They Think It Is Going Up In Value.

in #bitcoin8 years ago

#Bitcoin, for me, is a "retirement" plan that I can dip into whenever #ilfe happens. Recently, we lost power for almost a week and it was getting warm so I had to dip into my backup money and grab a huge power bank (it ran our #Comcast router for several days and we were able to keep phones and tablets charged). We had to get some #battery powered fans also. All together almost $200 out of my retirement money. Luckily the price was hovering around $2,900 per coin at the time so we didn't "spend" as much as we could have.

I did this via the Shift card and #Coinbase so it was "technically" not paying in Bitcoin at the point of purchase.

I live in central Arkansas and the only place that accepts Bitcoin around here as a Point of Sale deal is a hair salon and my hair is cut short year round so...

If there were more places that accepted Bitcoin I would probably use it more locally. Via my PR company I have tried to get companies on board with Bitcoin from back in the sub $200 days (some of those businesses are kicking themselves now). It is a catch 22 - no one wants to go through the trouble of accepting it if no one is going to spend it with them (and sadly, people won't spend it where they don't know they can).