Would a service for automated repurchasing of Bitcoins encourage spending?

1

We launched Reload, an online service that binds your bitcoin wallet to your bitcoin exchange account (16 supported so far): whenever you spend bitcoins from your wallet, Reload will use your exchange account to immediately repurchase the same amount of bitcoins. Reload also enables automated reporting and bookkeeping. Do you think such services might encourage Bitcoin spending? Are you repurchasing Bitcoins automatically with some other service already? Do you find this kind of service useful?

Bitnik

Posted 2015-04-20T13:47:40.737

Reputation: 19

1Stack Exchange is not intended for opinion-based "polling" questions (please see the "Help" button at the top of the page). I don't think market research is an appropriate use of this site. – Nate Eldredge – 2015-04-22T15:19:38.813

Answers

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This seems rather odd to me. I try to time my purchases with Bitcoins for times when the price is high. And I try to time my purchases of Bitcoins for times when the price is low. If I use a service like this, I'll either be buying high or selling low, which is not my personal preference.

David Schwartz

Posted 2015-04-20T13:47:40.737

Reputation: 46 931

Your thinking is very sensible. For me personally it is important that I can purchase things with Bitcoins anytime, any day, no matter of the current price. Basically I am paying all my utility bills with Bitcoin. But since I do not want to get rid of my stash (possibly I bought some of them for a higher price), I use Reload, which buys them back for me immediately after spending. I use Bitcoins for my every day needs and at the same time I am keeping the same stash of them. But I am super interested in reading more perspectives and ideas on the matter. – Bitnik – 2015-04-20T21:39:55.990

Asked: 2015-04-20T13:47:40.737

Viewed: 69 times

Active: 2015-04-20T21:22:25.450