Advice for the season. - page 5. | Bitcointalksearch.org

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Quote from: Rruchi man on December 20, 2021, 12:38:30 AM

Don't bend to societal pressure of over spending during this festive season, make serious plans for the celebrations and the coming year, Don't fall into the trap or bend to the pressure of selling off a percentage of your cryptos to spend this festive season, a new year is coming. January is usually a long month that carries along a lot of expenses, make plans and preparations now for tomorrow, spend wisely today.

I agree with the second part of what you say, but not with the first part. I have more liquidity than ever, I follow a spending budget in which the first thing I do is allocate money to investments, and, in addition I also have a section for myself to enjoy. Why shouldn't I do it at this time of the year?

Regarding the second part, yes I agree, assets should not be sold to spend on Christmas/Holidays/parties. They should be separate things.

You'd better build your assets and also enjoy life.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: Rruchi man on December 20, 2021, 12:38:30 AM

Don't bend to societal pressure of over spending during this festive season, make serious plans for the celebrations and the coming year, Don't fall into the trap or bend to the pressure of selling off a percentage of your cryptos to spend this festive season, a new year is coming. January is usually a long month that carries along a lot of expenses, make plans and preparations now for tomorrow, spend wisely today.

I dont even think that the chance of spending crypto for buying stuff exists in most countries but only a selective few where it has been made easily exchangeable. Even then many people will have been saving up for the holidays and they will spend a lot of buying gifts for their loved ones and booking tickets back to home countries, there is no problem in that, every one needs a break for crypto and spending time with family.

The current market price is not indicative of that, there was a rise in price last evening to 49k and then drop back to 48k and today it is at 49k again. This is indicative of a bullish trend or a buying pressure which is opposite of what is generally expected. It can also mean that people might be spending but there are buyers for bitcoin.

Reid

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Thank God I have my wife to do all those budgeting. Cheesy

I don't want the trouble listing every grocery item that she needs to buy. I just need to bring her the money and some allowance then everything will be served smoothly. We don't really spend much during the holidays. It's enough that we are together and enjoying simple food on the table.
I don't think it will scratch our cryptocurrency savings as we have cash all ready for this kind of events. Thanks for the heads up though and I agree with what you are trying to say.

Leviathan.007

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My best advice for the season is to try to have your own money management strategy, avoid acting with your emotions and stick to the plan especially if you are working on financial markets such as cryptocurrencies because recently, we see many people talking about the price in short term and to do panic sell or greedy buy and all these emotional decisions. History already gave us this advice to have patience in the financial market, the price may go down in a day for 15 percent or even more, and here is the price level where everyone will do panic sell while the successful investors will no such thing and that's how they get profits.

traderethereum

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Hopefully, this new year will be different than previous years as we can go to the public areas, although social distancing is still needed.
Although the crypto season is still not showing a good movement, we should be grateful that the price is not going down too deeper and can still increase soon.
We do not have to sell our coins to celebrate the new year because we still need to prepare for the bounce up of the price that could happen after the new year.
If you want to sell your coin for your needs, you need to calculate how much your needs are not to spend almost too big to celebrate the new year.

Shasha80

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Quote from: Darker45 on December 21, 2021, 10:46:41 PM

It would be nice to spend during this holiday season. But it shouldn't be made out of whatever external pressure.

Christmas is a season of giving, having fun, taking a break, and so on. Especially if there are little kids around, it would always be best to let them feel the spirit. It is highly encouraged to spend a good amount so that these little kids will be opening gifts, sharing smile and laughter, eating their favorite food, and so on.

Even to a poor family, Christmas is, or should be, the most joyful and wonderful time of the year. You have more than 350 days in the whole year to save a little for this special season.

Don't be the Grinch!

Actually I always have a routine agenda every Christmas and New Year, usually I always take my family on vacation. As you said, everyone wants
to celebrate Christmas and New Year with their family, so be sure to prepare for this special moment well. But because COVID-19 has spiked again
due to a new variant, I chose to spend time with my family at home. So it looks like for this year I will not spend a lot of money to celebrate Christmas
and New Year. Even though the profit I made from investing in crypto this year was much greater than the previous year. But because of COVID-19,
the percentage of coins that I have sold for Christmas is not as big as the previous year, because I might just eat some foods with my family at home
and buy some Christmas gifts for the kids.

Darker45

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It would be nice to spend during this holiday season. But it shouldn't be made out of whatever external pressure.

Christmas is a season of giving, having fun, taking a break, and so on. Especially if there are little kids around, it would always be best to let them feel the spirit. It is highly encouraged to spend a good amount so that these little kids will be opening gifts, sharing smile and laughter, eating their favorite food, and so on.

Even to a poor family, Christmas is, or should be, the most joyful and wonderful time of the year. You have more than 350 days in the whole year to save a little for this special season.

Don't be the Grinch!

yhiaali3

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Merry Christmas to all, this is a good tip to remind those who work all year to spend their money on this day and on New Year's Day too, that's a big waste spending all these big expenses in one day, but this has become a habit in society and it's hard to get rid of, price Bitcoin is low now so it is never wise to sell at this price for Christmas because we are on a date with a big rise at the beginning of the new year and selling large quantities at this low price will cause a lot of profit loss.

xSkylarx

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Quote from: TheEconomists on December 21, 2021, 08:52:20 PM

Many thanks for your advice anyway but am sure many people hear knows what to do with their hard earned money and if anyone choose to spend it the other way that may their way of life they choose to spend their money for money is actually meant to be spent on something dear to you. Good people please enjoy yourself for life has no duplicate!!

Agree its our own preference. If we like to spend it one day then why not its our choice as long as its our money and we dont go broke . Also before spending think ahead before spending all so that you do have something up to like putting a small business that would be as a remembrance for that money

TheEconomists

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Many thanks for your advice anyway but am sure many people hear knows what to do with their hard earned money and if anyone choose to spend it the other way that may their way of life they choose to spend their money for money is actually meant to be spent on something dear to you. Good people please enjoy yourself for life has no duplicate!!

glendall

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the end of the year is the end point of everyone's bookkeeping in finance, so if there is more money there is nothing wrong with taking a short vacation before welcoming the new year, but we must plan for the next year better because, spending every year will definitely increase so we led to the existence of the expenditure plan,
similarly in the crypto cycle after 1 year of turbulence at the end of this year the market wants to take a short break for refreshment in early 2022, with new surprises whether the market will do better or we will run from a bear market

TelolettOm

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I am sure that everybody has its habit and also condition to make what kind of memorable this in the special moments. Because sometimes, it is not only about individual but including all family members.
And I am sure that everybody will do something based on his good plans that have been made for some long times. And they will do it based on their own ability.
I am sure that in crypto world itself some people willnalso utilize this moment as usual.

Doell

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good advice ! but spending money on holidays that only once a year is important because our brains need freshness ,every day we look at trading so it's a bit stressful ! so the new year's moment is very important for a holiday ,earn money for self and family pleasure ,not to be sick

lixer

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Quote from: Mpamaegbu on December 21, 2021, 06:27:21 AM

Don't get me wrong on that. Truth remains that a lot of people do things because of pressure, and not necessarily because they would've wanted to do them on their own. That's the point I'm struggling to remake here. By the way, if you're alluding to Christmas as part of culture and beliefs attributes; that won't be correct because there's no where it's stated in the books that Christians should celebrate it. Not even Easter too. We should see the celebration of Christmas as more of a cultural and traditional thing. That was how the whole thing began in the first place. I think a lot of people take out the time to unwind around this period because it's a celebration that comes at the near end of the year. There are company and business holidays at such end of the year and most people utilize the time to travel and visit loved ones. Apart from that, there's nothing special about Christmas.

I am not even Christian, or even my nation, where I live there is like maybe 1% Christian population and yet we still celebrate "Christmas" not in a religious way but more of a cultural thing and basically just to have fun.

Life is boring as it is, wake up, work, sleep and so forth for most people in the world, it may not be for us in crypto world and could be a bit more fun but 90% of the people live wakeup-work-sleep cycle and that is the reason why we try to have fun no matter how it happens, including something cultural that was based on religion once upon a time. This is why I believe that we are talking about something that is very dangerous here if we keep considering it only in religious terms.

Oceat

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Quote from: dimox on December 20, 2021, 05:40:48 PM

Quote from: Oasisman on December 20, 2021, 03:51:39 PM

Quote from: Mpamaegbu on December 20, 2021, 02:22:32 PM

Quote from: Rruchi man on December 20, 2021, 12:38:30 AM

Don't bend to societal pressure of over spending during this festive season, make serious plans for the celebrations and the coming year, Don't fall into the trap or bend to the pressure of selling off a percentage of your cryptos to spend this festive season, a new year is coming.

Someone jokingly said why would anyone even want to spend at Xmas season when Jesus, the supposed celebrant, hasn't invited anyone to any party. Despite the fact that it came off as a joke, it's a fact. More so, I think those who indulge in unnecessary spending for Xmas or any other festivities are being childish. Every adult, who is adult, should know that every year there's always a Xmas on the calendar. Xmas celebration is unending till the end of time. My advice to any one out there is to be sensible in their expenses.

Made sense, but not everyone has the same views and thoughts because most of these people celebrating as part of their culture and beliefs. So, we cannot say that it's not an adult thing for having a feastive Chirstmas celebration. It's the culture and we gotta respect that.
However, It's also correct that we need to be responsible for our spendings.
So, either way there's definitely no wrong or right.

im not the part of that thing, but in my place, people will celebrate what they want to celebrate, although its prohibit from faith. the reason is, the older do this thing, and just follow the older. doenst mean all of people do this, but most of them spend money for something useless. and that thing always become routine, unless younger realize and change to do something useful.

I believe it's what you believe will always be followed and there's no wrong of being different. Some cultures are bound by religious beliefs that's why if you've met someone who's opposite from what you are believing just let them do what they want.

The Op's suggestion is just for traders/investors who has a target but I don't know if a trader would want to take some of his capital in order to spend some time with his/her family or just focus on trading until they hit the target.

iv4n

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I think this is good advice for younger people, people who live alone or only with a partner... than you can do exactly how you want it, and nobody can shit you about anything, at least you shouldn't allow that! But for us older guys with families it's a bit different, kids want what they want, and you can forget them... and in the past days my kids get presents from others, so it would be nice from my family to return that to their kids... all in all money needs to be spent, one way or another. I am good, I still don't need to sell crypto for all that, I have my own money, but if I have to I would sell to make kids happy...

fiulpro

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Bitcoins already increased by quite a bit over time and at the same time we can see that other cryptocurrencies are also looking good. People who were holding them and did not panic sell can have a sense of relief. At the same time I always find that during the holiday season it's best to exploit the discounts, putting off something like : microwave?? Viola! Christmas discount! So I put off buying things till the holidays and they usually work really well therefore I do think that people who can manage money wisely at the same time keep a track of discounts and how they can use it for the best can actually not only go through with presents in each hand but also save for the longer term.

redsun114

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Quote from: Rruchi man on December 20, 2021, 12:38:30 AM

Don't bend to societal pressure of over spending during this festive season, make serious plans for the celebrations and the coming year, Don't fall into the trap or bend to the pressure of selling off a percentage of your cryptos to spend this festive season, a new year is coming. January is usually a long month that carries along a lot of expenses, make plans and preparations now for tomorrow, spend wisely today.

You are right. I have seen a lot of people that are taking out money to spend for the festive season, seriously I have no such plans at all. For sure there would be little merriment, but not the type that would require me to break the bank and make huge expenses, nah I can’t do that. I’m conscious of what I am doing and how I am spending this period. Anything that I am doing is just going to be small expenses that won’t cost much.

I already have my savings locked up, and I am making plans on which coins to invest in before the new year starts. Although I have a few already in my wallet and they are doing fine, just like the Terra Luna that has been increasing for a long time.

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Quote from: The Cryptovator on December 20, 2021, 11:21:08 PM

But sadly a few holders intend to sell at the end of the year, as a result, we have been seeing a red market.

The high expectations for the end of this year have clearly not been met, and there is no doubt that many are disappointed by this. The belief that the bull market is over and that a long crypto winter is coming will surely cause some people to want to sell, especially because many want to spend part of their profits this part of the year.

However, some say that the biggest culprit for the current situation is again China, ie their users who will no longer be able to trade through the Huobi crypto exchange, which results in mass sales in that part of the world. It is good that the West manages to accumulate all this, so the price could start rising again when the pressure of sales from China decreases.

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Quote from: Rruchi man on December 20, 2021, 12:38:30 AM

Don't bend to societal pressure of over spending during this festive season, make serious plans for the celebrations and the coming year, Don't fall into the trap or bend to the pressure of selling off a percentage of your cryptos to spend this festive season, a new year is coming. January is usually a long month that carries along a lot of expenses, make plans and preparations now for tomorrow, spend wisely today.

For sure there are some investors who already sold some of their holdings possibly at the peak of the market just to have some funds to be used this Christmas season.
There are some as well who just sold their holdings right now either in profit or in loss just to have money to spend this festive season. Of course selling your assets at a profit is still good especially if you are just a short term holder but if you sell your assets at a loss then there is a problem.

Overall, I agree that you shouldn't sell your assets just to have money to spend this time. Planning and following the plans should be the main priority as an investor. As for me, I did sell some of my assets but not to use this festive season but to invest into other projects Cheesy

. I didn't sell my assets just to spend this time since there is someone who will be doing it and I will just eat, eat and eat. Spend wisely as OP said

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