Are you ready to spend crypto when market is down - page 10.

stomachgrowls

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Quote from: el kaka22 on December 28, 2022, 05:06:05 PM

I am already spending a good amount every day on servers and other stuff, I mean rendering alone is taking about 8 bucks per day and that is fully paid in crypto as well thankfully. I wasn't planning on this to be fair, but why does it matter to me anyway because it could be money in the bank that I spend and keep my coins but if not then I will spend bitcoins and then money in the bank goes to binance and turned into bitcoin, the end result is the same, I am using the product and I am paying in crypto and I am making a profit from it as well.

Not a lot of people have this chance of course and that is why I hope that more and more places are willing to accept crypto payments to make it work.

If you are spending your crypto actively but on those things which do generates income then you wont really be that too mindful on how much you do spending overall and its true that there's no differences on saving it

up because we would be still ending up on making conversions in between fiat or crypto specially on the time that we are in need thats why it isnt really that a bothersome nor an issue if you do
spend up a some part of your crypto holdings on something we do see for it to be relevant specially when we do make out some money on that particular thing.
Doesnt matter if the market is really having that bearish moment or not.

el kaka22

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I am already spending a good amount every day on servers and other stuff, I mean rendering alone is taking about 8 bucks per day and that is fully paid in crypto as well thankfully. I wasn't planning on this to be fair, but why does it matter to me anyway because it could be money in the bank that I spend and keep my coins but if not then I will spend bitcoins and then money in the bank goes to binance and turned into bitcoin, the end result is the same, I am using the product and I am paying in crypto and I am making a profit from it as well.

Not a lot of people have this chance of course and that is why I hope that more and more places are willing to accept crypto payments to make it work.

asawale

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Cryptocurrency is seen as an investment and not a currency for day to day business transactions. Even if cryptocurrency will be spendable like a normal fiat currencies, it will eith be the major cryptocurrencies like Bitcoin and Ethereum. Many of the other altcoins will never be useful beyond their DeFi ecosystem.

Jody.Drummer

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Quote from: ringgo96 on December 28, 2022, 10:02:53 AM

If we have enough capital then investing in some crypto is the right choice, and when the price drops there are very many good coins that we can invest in so all the good coins we will definitely spend according to the target we have set, but not all coins we have to buy and we must be able to make good use of our capital so that later we can get a big profit, And during bear season we should be able to maintain the assets we have and never panic even though we are experiencing heavy losses because all the coins will definitely increase again when it is time.

Of course there are many assets or tokens that we can invest in, but that doesn't mean that we choose which coin we will invest at will. Observation and analysis are important to see the potential of coins that will give us profit in the future. If we talk about a lot of capital, in my opinion, this is an advantage in itself, because we can divide it into several coins and also in large quantities. But it must be remembered, don't forget the bitcoins that we have to hold, because in my opinion bitcoin is the first asset that we must have before the other coins that are scattered around now. I think if we forget bitcoin in our portfolio it will be very detrimental.

Iroh

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Quote from: valeneu on December 28, 2022, 02:30:40 AM

Quote from: dansus021 on December 27, 2022, 10:45:59 PM

In my opinion when the market is down like right know Im not going to spend it my crypto unless using if for daily purposes like withdrawing the crypto for a monthly bill. the best time when the market is down is to accumulate more coin and token stake it and enjoy when the bullish month coming.

A market downturn is the best time to accumulate more cryptocurrency than to spend it faster, let alone sell at a low price. Be patient and wait for the market to recover and start reaping the really big rewards from it.

When there is a downtrend in the price of bitcoin or any alt coin, that is the best time to buy more. But an individual could only buy more bitcoin when there is extra income available. For someone that has a single source of income, it would be extremely difficult to be patient and to wait for the market to recover and bounce back to reap any reward from it.
When an individual has an extra source of income, only then could you comfortably accumulate and hold your bitcoins when the market is down till when the market bounces back and rises. You wouldn’t have to convert your satoshi to fiat to pay for bills or anything of the sort.

Inwestour

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Quote from: isaac_clarke22 on December 28, 2022, 10:09:37 AM

Well if you have a monthly bill waiting for you around the corner, there's no reason to hold that money for crypto though obviously. I had seen worse decision by people trying to play blind and loaning instead just to get their hands into crypto then later regretting it when bearish market arrives.

If you have any other priorities related to your needs, I don't see any bad reason to using your money on that first. Not sure why people just don't get their priorities right.

An incorrect assessment of risks can lead to loss of money, so debt and investment should be separated for your own safety. As for spending cryptocurrency in a bear market, I don't think it's a good idea. It doesn’t matter if it’s bitcoin or altcoins, if you bought them for investment, then selling them when the market falls will lead to a potential loss of profit.

There may be different situations, if you have to sell in order to close some kind of debt, then this is acceptable, but I have said more than once that before you start investing, you should resolve all issues with the roads, and only after that start investing. Some unforeseen situations may occur, but for this there must be a cash reserve. You can almost always be prepared for many situations that can protect you from selling your bitcoins in a falling market.

Falconer

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Quote from: dansus021 on December 27, 2022, 10:45:59 PM

In my opinion when the market is down like right know Im not going to spend it my crypto unless using if for daily purposes like withdrawing the crypto for a monthly bill. the best time when the market is down is to accumulate more coin and token stake it and enjoy when the bullish month coming.

Bitcoin has high price volatility, the best option when the price drops is to hold it as much as possible and it is better if you can accumulate it by placing more investment in it. There is good hope about its future and you may regret it if you sell it today.

By the way you can still refrain from selling your bitcoins during a downturn in case you still have savings or perhaps sell your other investment assets like gold or something or or a myriad of used plastic if you've been saving it. I prefer to hold bitcoin over selling them during a downturn and I tend to look for logically better options to sell.

isaac_clarke22

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Quote from: dansus021 on December 27, 2022, 10:45:59 PM

In my opinion when the market is down like right know Im not going to spend it my crypto unless using if for daily purposes like withdrawing the crypto for a monthly bill. the best time when the market is down is to accumulate more coin and token stake it and enjoy when the bullish month coming.

Well if you have a monthly bill waiting for you around the corner, there's no reason to hold that money for crypto though obviously. I had seen worse decision by people trying to play blind and loaning instead just to get their hands into crypto then later regretting it when bearish market arrives.

If you have any other priorities related to your needs, I don't see any bad reason to using your money on that first. Not sure why people just don't get their priorities right.

ringgo96

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If we have enough capital then investing in some crypto is the right choice, and when the price drops there are very many good coins that we can invest in so all the good coins we will definitely spend according to the target we have set, but not all coins we have to buy and we must be able to make good use of our capital so that later we can get a big profit, And during bear season we should be able to maintain the assets we have and never panic even though we are experiencing heavy losses because all the coins will definitely increase again when it is time.

Smartprofit

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Quote from: burugcrypto on October 06, 2022, 03:50:34 AM

Hello Everyone,

I am not speaking about just Bitcoin. I am speaking about every cryptocurrency / token. Regardless of crypto price fluctuations, many online and offline stores are ready to accept crypto as payment. So How will willing are you to spend crypto for your purchases?

If one doesn't spend their crypto for purchases and wait for to spend their crypto when its price is nice, are they really considering it as a cryptocurrency or can we assume like those people are treating more like a security or investment instrument?

In my opinion, fiat money is currently a less valuable asset than cryptocurrencies and gold. Because cryptocurrencies and gold have great potential for their price growth in the Future.

However, I sell my cryptocurrency when I need cash. I sell cryptocurrencies, realizing that its prices will rise strongly in the future. There are many interesting and important things in life.

Saving money and never spending it is not a good option. Otherwise, you may not have time to enjoy life.

Fredomago

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Quote from: dansus021 on December 27, 2022, 10:45:59 PM

In my opinion when the market is down like right know Im not going to spend it my crypto unless using if for daily purposes like withdrawing the crypto for a monthly bill. the best time when the market is down is to accumulate more coin and token stake it and enjoy when the bullish month coming.

If you have enough spare money, it's better to save your money into crypto, which you believe that will bounce back when the market start to pump. There are many factors that may affect the market and it will be depend on how investors and traders will think about the potential and possibilities of how the market will behave in the next few months or years.

Though it's also possible that those who are good in making a short-term trade are capable to make some good amount and spend it with their personal needs, but surely it's not that many who can really make good position when the market is down.

Most are afraid and really not willing to take the risk of spending their money, or some may choose to wait and hold.

JavasetvenQ

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Quote from: posi on October 06, 2022, 04:48:03 AM

Currently, I have not and do not intend to do this as my daily living expenses are unrelated to my crypto investments. I have an outside main job and instead of selling crypto assets or spending it, I am still trying to accumulate more of my assets during this bear season with my salary. Your question is no different than you are asking if we are willing to sell crypto assets during bear season while everyone is trying to accumulate more crypto assets and waiting for a bull season to come.

At present, I have no application scenarios for using digital currency in my country, not at all. The purpose of using digital currency around me is also very simple, which is to buy low and sell high, and then turn it into legal currency. Now because the market is relatively sluggish, everyone seems to be away from the exchange in an instant, and they are all busy with their work. Everyone lives in reality.

valeneu

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Quote from: dansus021 on December 27, 2022, 10:45:59 PM

In my opinion when the market is down like right know Im not going to spend it my crypto unless using if for daily purposes like withdrawing the crypto for a monthly bill. the best time when the market is down is to accumulate more coin and token stake it and enjoy when the bullish month coming.

A market downturn is the best time to accumulate more cryptocurrency than to spend it faster, let alone sell at a low price. Be patient and wait for the market to recover and start reaping the really big rewards from it.

dansus021

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In my opinion when the market is down like right know Im not going to spend it my crypto unless using if for daily purposes like withdrawing the crypto for a monthly bill. the best time when the market is down is to accumulate more coin and token stake it and enjoy when the bullish month coming.

BRINIRHA

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Quote from: tjtonmoy on December 27, 2022, 04:31:15 PM

It is ultimately up to the individual to decide how they want to use their cryptocurrency. Some people may choose to hold onto their cryptocurrency as a long-term investment, while others may be more willing to spend it on purchases. There is no right or wrong answer, and the decision to spend or hold onto cryptocurrency will depend on a variety of factors such as an individual's financial goals, risk tolerance, and personal preferences.
Totally up to them.
For me, I will hold mine while spending a portion of it to cover up daily expenses if I ever need to.

you are right and I also think that in a bearish market like today, more people will save their crypto assets for long-term investments. because after all the current market is very suitable for accumulation for investment
long term until the bullrun comes.

But lately I often use stablecoins to pay bills and top up internet on my cellphone. because I use Binance and dibinance in the MarketPlace feature there are many options to use shopping with crypto assets.

Fredomago

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Quote from: BigBos on December 27, 2022, 12:12:21 PM

Quote from: burugcrypto on October 06, 2022, 03:50:34 AM

Hello Everyone,

I am not speaking about just Bitcoin. I am speaking about every cryptocurrency / token. Regardless of crypto price fluctuations, many online and offline stores are ready to accept crypto as payment. So How will willing are you to spend crypto for your purchases?

If one doesn't spend their crypto for purchases and wait for to spend their crypto when its price is nice, are they really considering it as a cryptocurrency or can we assume like those people are treating more like a security or investment instrument?

It's very difficult for me to spend my crypto because in my area it's still difficult to find shops that accept cryptocurrencies and even Bitcoin as a means of payment, therefore I don't mean not to take it out and use it as it functions.
But maybe I will accumulate it as an investment asset first, when someone in my area already accepts crypto as a means of payment I will also use it. And again, if I exchanged my crypto back for fiat to spend today, it would be stupid in my opinion.
I admit that currently I still make Crypto as an investment alternative, especially in bitcoin.

If that's the case, better to keep your assets and add more instead of trying to find outlets that will accept crypto. The current market is down and you won't gain any compensation if you will use your crypto now. It's a good time to accumulate and if you believe that crypto, especially bitcoin, will bounce back, then you will earn a decent amount of money while waiting for the market to rise back. Bitcoin already did it before and can continue doing it. After the downfall, expect a good recovery.

tjtonmoy

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It is ultimately up to the individual to decide how they want to use their cryptocurrency. Some people may choose to hold onto their cryptocurrency as a long-term investment, while others may be more willing to spend it on purchases. There is no right or wrong answer, and the decision to spend or hold onto cryptocurrency will depend on a variety of factors such as an individual's financial goals, risk tolerance, and personal preferences.
Totally up to them.
For me, I will hold mine while spending a portion of it to cover up daily expenses if I ever need to.

BigBos

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Quote from: burugcrypto on October 06, 2022, 03:50:34 AM

Hello Everyone,

I am not speaking about just Bitcoin. I am speaking about every cryptocurrency / token. Regardless of crypto price fluctuations, many online and offline stores are ready to accept crypto as payment. So How will willing are you to spend crypto for your purchases?

If one doesn't spend their crypto for purchases and wait for to spend their crypto when its price is nice, are they really considering it as a cryptocurrency or can we assume like those people are treating more like a security or investment instrument?

It's very difficult for me to spend my crypto because in my area it's still difficult to find shops that accept cryptocurrencies and even Bitcoin as a means of payment, therefore I don't mean not to take it out and use it as it functions.
But maybe I will accumulate it as an investment asset first, when someone in my area already accepts crypto as a means of payment I will also use it. And again, if I exchanged my crypto back for fiat to spend today, it would be stupid in my opinion.
I admit that currently I still make Crypto as an investment alternative, especially in bitcoin.

Cling18

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Quote from: Mauser on December 27, 2022, 10:42:10 AM

Quote from: Outhue on December 27, 2022, 06:38:07 AM

Good question from a newbie👍

I will only find it hard to spend crypto in a bear market if I bought the crypto e.g Bitcoin or Ethereum in a bull market, this is why I always tell my friends that Fiat and Crypto must co-exist, its pure balancing, for example

Assuming I bought 1 Bitcoin at 60,000$ it makes no sense to use the Bitcoin to make purchases online, now we are in a bear market, I can get 1 Bitcoin for 16k+ and use this to make purchases if I must, my mind will have the thoughts that I can still buy back at 16k+ since we are still in a bear market.

I know this feeling well, my first few big purchases of Bitcoins are always in my mind when looking at the the current price and if I should spend any of my coins. But over the years I bought bitcoins at so many different prices that it's hard to keep track. Instead of buying one time per month, I prefer to make 2-3 smaller purchases every 2 weeks. Dollar cost average strategies are the best in my opinion, even though it's hard to track of the purchase prices. In general I think the same that we shouldn't be spending our coins during bear markets. It's better to hold out and wait for the next bull market to come.

I used to spend my Bitcoin and Ethereum holdings before regardless of the bearish market situation without minding the opportunity of a good profit that I might earn when the market recovers. Later on, I have learned the importance of long-term holding and tried to keep my coins well. I learned that the bear market is an opportunity to buy and not to spend potential coins. It should be a good preparation for the market recovery.

Mauser

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Quote from: Outhue on December 27, 2022, 06:38:07 AM

Good question from a newbie👍

I will only find it hard to spend crypto in a bear market if I bought the crypto e.g Bitcoin or Ethereum in a bull market, this is why I always tell my friends that Fiat and Crypto must co-exist, its pure balancing, for example

Assuming I bought 1 Bitcoin at 60,000$ it makes no sense to use the Bitcoin to make purchases online, now we are in a bear market, I can get 1 Bitcoin for 16k+ and use this to make purchases if I must, my mind will have the thoughts that I can still buy back at 16k+ since we are still in a bear market.

I know this feeling well, my first few big purchases of Bitcoins are always in my mind when looking at the the current price and if I should spend any of my coins. But over the years I bought bitcoins at so many different prices that it's hard to keep track. Instead of buying one time per month, I prefer to make 2-3 smaller purchases every 2 weeks. Dollar cost average strategies are the best in my opinion, even though it's hard to track of the purchase prices. In general I think the same that we shouldn't be spending our coins during bear markets. It's better to hold out and wait for the next bull market to come.

Topic: Are you ready to spend crypto when market is down - page 10. (Read 3029 times)