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[–] MiMx 1 point -1 points (+0|-1) ago 

When/if interest rates increase, bitcoin will go near zero.

[–] [deleted] 0 points 1 point (+1|-0) ago 

[Deleted]

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[–] MiMx ago 

This is a case where bitcoin is still a fiat currency replacing credit cards imo.

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[–] Joecuki ago 

Using it for investment isn't a bad idea, but it is definitely a risky idea. If you use it for investment, it should be as a small part of a larger diversified portfolio, you should be able to afford to lose it, and it should be a long-term plan. I use it as a investment with these rules, but I also buy goods with it through newegg and other places.

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[–] harrym ago 

You should have two wallets. One for spending needs and one for saving. The spending one needs less security (and is probably on your phone); the saving one needs more (and is probably on your home pc, ideally with the keys protected on a trezor hardware wallet.

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[–] a345345 0 points 1 point (+1|-0) ago 

Both. I have ~1BTC always on my phone for everyday spending. If I see a bitcoin payment option on a web site, I always use it. Unfortunately, many web sites that previously included btc payment option, removed it recently :( I guess too much trouble for too few actual customers. Rest of it is in several well hidden "savings" wallets. And one small unencrypted wallet is on my PC - I check it regularly, and if I see it emptied, I would know I have a virus in my computer!

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[–] locke-ama-gi 0 points 1 point (+1|-0) ago 

No reason you can't do both.

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[–] liquidify 0 points 1 point (+1|-0) ago 

I do both with mine. I own x amount of bitcoin, and I spend from it freely. But any time I spend from it, I but the exact same amount I just spent on an exchange. Doing this, my total bitcoin will never go down.

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[–] neofatalist 0 points 1 point (+1|-0) ago 

I use it as a long term hedge. What you use it for is really up to you.

I tried using bitcoin as cash for a week 2 years ago and it was a little inconvenient outside of online purchase. I used gyft to spend it in retail stores but pulling out a credit card was faster plus I get "rewards". If you were a business and you can supply your business and pay your employees with bitcoin then it can be convenient but thats not me.

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[–] NeverToday 0 points 2 points (+2|-0) ago 

This is how I have it set up at the moment:

  • I have about 0.5 BTC in my mobile phone wallet (Mycelium) that I use like cash in a normal wallet. It's easy, accessible and always on me.
  • I have about 1.5 BTC in a coinbase wallet that I use for online purchases. I'm not sure why I think I need Coinbase for a different purpose and might eventually move this into something else. I really like only using Coinbase for purchasing and not storing as the coins are out of my control when I keep them over there.
  • I have an undisclosed large amount in paper wallets that I use as savings. I have multiple paper wallets and keep 1 BTC in each, so that if I need to move it to an online wallet, I don't have to move all my savings over.

This set up works for me.

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[–] Jorj_X_McKie 0 points 1 point (+1|-0) ago 

I used to do that... now I just have my Mycelium and Airbitz wallets for spending money, my Trezor & cold wallets for HODL coins, and instead of Coinbase, I have Circle with $500 avail instantly anytime I want, so I don't really have to hold middling amounts.

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