Bitcoin wallet address list.

Stop Spending Your Bitcoin

I've seen a lot of posts over the last couple of years propagate the erroneous idea that spending bitcoin makes it more valuable. I assume these people are well meaning, but it shows a remarkable lack of understanding in basic economics.
A basic trade between two parties is a win-win in that both parties believe they are getting rid of something less valuable in exchange for something more valuable. Each actor in a marketplace signals that the item they are acquiring is more valuable to them than the item they are getting rid of. If I spend ten chickens to acquire a goat, I am buying a goat and spending chickens to get one. Apparently I value the goat more than the ten chickens.
Buying=Acquiring=Valued More Selling=Spending=Valued Less
It seems to me that some people have the idea in their mind that 'spending' and 'selling' are two different categories. That is, the same person who would realize that selling BTC into the market for USD would cause the value of BTC to go down, has somehow convinced themselves that spending BTC for a pizza instead of dollars doesn't have that same effect. Economically speaking the term 'spending' and 'selling' are identical. Both communicate to a market that you believe the thing you're acquiring is more valuable than the thing you're getting rid of.
But what about spending BTC in BTC based businesses? Don't we need to support them? If a business can only survive by trading products in exchange for an undervalued asset class, then it isn't an efficient business. Efficient businesses can make a profit trading for fair valued asset classes. Additionally, if the business you're giving your BTC to turns around and sells it into the market for USD, then you just triggered a series of transactions that led to the perceived value of BTC GOING DOWN. Unless the business owner is more commited to Hodling than you are, you are putting downward pressure on BTC.
If you believe that eventually the economic energy stored in fiat currency will be transferred to crypto, then the best way to promote that future is to transfer your fiat currency to crypto. Genius. Just hodling doesn't create value (people are still hodling Kmart stocks), but continuing to buy-and-hodl, or transfer-fiat-to-crypto, is what will.....transfer the value of fiat to crypto.
What do I spend? Spend that which you value the least. In one of the old Greek wars, the local government started watering down the silver and gold currency with bronze to help pay for the war. Over time a higher and higher percentage of the newly minted currency was bronze rather than gold/silver. What did the smart locals spend into the market for their consumable goods? The watered down stuff. If you have a choice of spending a 100% silver coin for a pair of pants, or a 65% silver coin for the same pants, would you really spend the 100% coin just because you want to promote precious metals? That would be really stupid. If the market is accepting both, but you know in the end the 100% will prove more valuable, then you hodl it. Buy more of the pure coins with the 65%ers if you can.
You should always trade away whatever you value the least. If I want a cheeseburger and I have BTC in my left hand and USD in my right hand, I'm going to get rid of the green stuff first. If I find my wife's Nickelback album under the seat and I can barter it off for a cheeseburger, then see ya Chad Kroeger, I'm hodling my BTC.
Isn't BTC electronic cash? Yes, so are dollars. Why hodl dollars and spend BTC? When should BTC be spent? When its the least valuable thing you have to spend. Practically speaking, as the world transfers over to crypto more and more to represent their stored economic energy, there will be a greater and greater need to trade it in exchange for daily consumable needs. When dollars and euros are only good for fire kindling, then there will be natural demand created for cryto spending. This does not need to be artificially created. No one had to go around and evangelize hodlers of dollars to entice them to spend them in order to create infrustructuh (pronounced with Bernie Sander's accent). Infrustructuh naturally pops up when smart people react to market demand. Artificial demand leads to the ghost towns of China (google that if you don't know what I'm talking about).
TL:DR - Buying BTC increases its perceived value. Spending BTC does the opposite.
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