Are you ready to spend crypto when market is down - page 13.

livingfree

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I don't really intend to spend my crypto investments.. For me they are my long term investment. Especially when the market is down, It would be unwise to spend. For me spending my share market investments are rather a better option.

It has that feeling during the bear market. I've done that for several times, and I've spent it even if I don't want to, but I have to do it and got no choice.

Despite I don't want to spend it but can't limit myself to if I don't have any other investments that are ready to be spent in times of I need it. But keeping the most of it is what I'm trying to retain in spite of needs.

It just doesn't feel well when we spend it when the price is low when we've seen it at high before.

Fara Chan

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Quote from: burugcrypto on October 06, 2022, 02:50:34 AM

So How will willing are you to spend crypto for your purchases?

In the case of a decrease in the price of bitcoin, we cannot spend purchases using bitcoin, because it is contrary to the investment concept that we build. For example, you buy bitcoin at a price of $19,443 then try to spend some items when the bitcoin is at a selling price of $ 18,000 (assuming), this will make you lose and the concept of investing is not like that.
Then how to solve this problem, maybe short-term trading can be a reference to avoid these problems, whether shopping for goods using bitcoin payments or to avoid the basic investment capital that we make

Silberman

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Quote from: erep on October 09, 2022, 04:55:20 PM

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It depends on the financial situation. If there is clearly another form of income then there wouldn't be the need to spend your crypto assets directly but when the alternative option is not available, whether you spend your crypto directly or convert to fiat before spending is still the same cos you will be spending the same amount or even more if you have to selling to fiat before spending cos of the fees. so yes I would spend my cryptocurrency for payments.

Actually, many people don't use crypto assets for payments during bear market situations, but if you mention that you are in a financial crisis and there are no alternative options available, then the option is to convert crypto to fiat to meet basic needs. But if your condition is not a financial emergency then you still leave 50% of the assets crypto for the future because during the current inflationary period many currencies in various countries have decreased and other factors that we expect profits from crypto assets for the bullish phase in the future.

If you only think of bitcoin as an investment then it is true that it does not make too much of a sense to part ways with most of your bitcoin at the moment when the price is so low, however if we want for bitcoin to become a currency then we need to use it, personally I still use it even when the price is not anywhere near its all tome high but I try to reduce my usage to some extent, however when the price is very high and there is something I need to buy I do not have any problem with using my bitcoin to buy what I need at the moment.

romeitaly

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Well, it's unstable so it doesn't really prevent to go down sometimes. There is a time the price goes hype and there goes down.

erep

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It depends on the financial situation. If there is clearly another form of income then there wouldn't be the need to spend your crypto assets directly but when the alternative option is not available, whether you spend your crypto directly or convert to fiat before spending is still the same cos you will be spending the same amount or even more if you have to selling to fiat before spending cos of the fees. so yes I would spend my cryptocurrency for payments.

Actually, many people don't use crypto assets for payments during bear market situations, but if you mention that you are in a financial crisis and there are no alternative options available, then the option is to convert crypto to fiat to meet basic needs. But if your condition is not a financial emergency then you still leave 50% of the assets crypto for the future because during the current inflationary period many currencies in various countries have decreased and other factors that we expect profits from crypto assets for the bullish phase in the future.

TribalBob

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if it's urgent I will spend my crypto money to make ends meet, because my crypto money is my savings so when the market is down or bull run I will definitely do crypto to fiat exchange transactions for my needs

bestcoins1

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Quote from: Wong Gendheng on October 09, 2022, 08:16:04 AM

As investors we must be prepared with bad conditions that can happen, I once sold Bitcoin at the highest price of $ 52K, but once bought again at $ 61K, and now there are still many losses that I get when the market is bearish. If Bitcoin drops below $ 10K then I will sell 90% my bitcoin.

Why would you choose to sell 90% of your Bitcoins when the price drops below $10K? Isn't that a very big loss for you, which is even greater than the loss you are experiencing now. If you really don't want to hold it anymore and choose to sell, it's better for you to sell now than having to bear a bigger loss than now. But if you are still very confident in the increase that can still occur in Bitcoin, then try to store it very well and don't even think about selling at a price that makes you lose.

Wong Gendheng

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As investors we must be prepared with bad conditions that can happen, I once sold Bitcoin at the highest price of $ 52K, but once bought again at $ 61K, and now there are still many losses that I get when the market is bearish. If Bitcoin drops below $ 10K then I will sell 90% my bitcoin.

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Quote from: burugcrypto on October 06, 2022, 02:50:34 AM

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?

First let them accept crypto as payment and then see the charts change momentum towards the upward trend for years to come. This bear market will completely reverse if such a thing was to happen with a big e-commerce platform.

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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?

Bitcoin is a payment method and it should be used like that. It has become an investment method because people are trading it using fiat but 1BTC is always 1BTC regardless of the fiat price.

Truely, being able to spend your coins to buy daily necessities is what this community has been long deprived of. I am sure it will have a impact on the price and coming future of this market.

wmaurik

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Bear Market is the greatest opportunities to buy crypto assets because everyone are fearful about the market conditions but smart investors seeing this as a opportunities to buy cheap prices and hold for the next big bull season market. As the saying goes "be greedy when others are fearful and be fearful when others are greedy".

I do not understand the meaning of the proverb you say. Because greed can usually destroy someone in everything, which can't even be good for everyone. Greed makes everyone lose focus on the main goal because all they think about is having and having without remembering the side effects or bad effects that can happen to them.

Now let me give a close example of buying Bitcoin with all the money you currently have, it's not so bad to do that kind of thing. But you may have a little trouble when you need cash as soon as possible, while the Bitcoin you buy is still at a low price and even lower than the price you bought before. What would you do if you were in such a position?

gunhell16

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Quote from: burugcrypto on October 06, 2022, 02:50:34 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?

The question is, do the majority of people in today's age have cryptocurrency? Second, how much money can you spend using crypto?

In fact, at this time cryptocurrency can be said to be a good investment for the future and can also be an opportunity, but to be used to pay for daily expenses, it is still a bit difficult to implement, because there are only a few merchants who accept it for their business as payment options.

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Unlike the market situation I used to cashout bitcoin and use it for my needs. I do this once after missing opportunity to sell at the peak in the past. Later on, if there is a need I'll sell bitcoin and other cryptocurrencies and make use of it. Even in this bear market I've cashed out little limiting my needs.

If that's what you have to do I don't think there's a problem because meeting the needs in life is also important,
more precisely limiting spending because the current global economic condition is not doing well,
Moreover, inflation is also happening everywhere and this is not easy

Smack That Ace

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Quote from: CageMabok on October 08, 2022, 06:30:53 PM

Quote from: BRINIRHA on October 08, 2022, 05:45:06 PM

for now I'm more comfortable shopping with fiat. because crypto for now I prefer to be an investment asset. for fiat I prefer not to hold it for a long time and I have to use it for shopping as soon as I withdraw it from the ATM. but if there are shops that accept crypto payments. of course i would give it a try if it was a shop close to my house.

In the city where I live there are no shops that accept crypto as payment even though many people know about crypto and Bitcoin. So I also still rely on fiat to shop for the necessities of life that I need. For cryptos and Bitcoins that I currently have, I still take very good care of them because market conditions still do not allow to sell crypto or make trades in the market.

In my opinion, fiat is still more convenient for shopping for daily necessities. My cryptocurrencies are intended for investment and not for spending, so I never intended to use them for spending, especially during this bear season, things are going downhill, spending will cost us and I think that's a bad idea.

I think investments and expenditures should not be related, if you don't know how to allocate them properly you will be in trouble. Besides, I'm trying to work every day and always deduct part of my salary at the end of the month to accumulate more crypto, so I never really thought about spending it in crypto.

Wawa2013

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Quote from: lalabotax on October 08, 2022, 04:59:20 PM

Quote from: nakamura12 on October 08, 2022, 03:35:38 PM

Not all want to spend their crypro when market is down and I am also sure that many people would also be happy enough to buy all the crypto that you spend when the market is down.

You are right most people prefer to buy more coins during the bearish market. They mostly spend coins or sell coins in the bullish market. But I think spending a small number of crypto coins is okay, it isn't a big matter. We should be proud to support crypto adoption as a payment tool for online stores. We don't only think about our investment, we also need to think how our contribution to support the development of crypto coins. Since we expect crypto can be digital currencies that we can use globally, it should be not a problem to spend our crypto coins in online or offline stores.

Indeed, ideally we buy as much crypto as possible during a bear market and sell it during a bull market. But sometimes everyone's economic
situation is different, sometimes when the bear market I have an urgent need and I am forced to sell the crypto I have, because my fiat savings
run out. Unexpected things like that are bound to happen to some people, so it's fine in my opinion spending crypto on something important.

Regarding your suggestion to use crypto for payments it may only be possible in countries where it is legal for crypto to be used for payments.
Meanwhile, based on my knowledge, most countries only legalize crypto as a digital asset. So if we want to spend crypto, we have to exchange
crypto for fiat on exchanges. But I believe in the future when crypto is very popular and used by the majority of people in the world, slowly
many countries will legalize crypto entirely. So we can spend crypto to buy something or pay bills without having to fear breaking the law.

Hamphser

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Unlike the market situation I used to cashout bitcoin and use it for my needs. I do this once after missing opportunity to sell at the peak in the past. Later on, if there is a need I'll sell bitcoin and other cryptocurrencies and make use of it. Even in this bear market I've cashed out little limiting my needs.

There are really times which you cant really avoid which you would really be needing to cash out and make conversion just because you do really need to have money.
Spending up crypto is something where people do hesitate on doing so because we do know the potential of it whenever the market do make out some recovery or bullish run.
It does really vary on someones goal and perspective towards their crypto assets or holdings.We do have different actions on our investments
and different perspective and views and making out decisions which you do seem that it would really bring out benefits.

CageMabok

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Quote from: BRINIRHA on October 08, 2022, 05:45:06 PM

for now I'm more comfortable shopping with fiat. because crypto for now I prefer to be an investment asset. for fiat I prefer not to hold it for a long time and I have to use it for shopping as soon as I withdraw it from the ATM. but if there are shops that accept crypto payments. of course i would give it a try if it was a shop close to my house.

In the city where I live there are no shops that accept crypto as payment even though many people know about crypto and Bitcoin. So I also still rely on fiat to shop for the necessities of life that I need. For cryptos and Bitcoins that I currently have, I still take very good care of them because market conditions still do not allow to sell crypto or make trades in the market.

BRINIRHA

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for now I'm more comfortable shopping with fiat. because crypto for now I prefer to be an investment asset. for fiat I prefer not to hold it for a long time and I have to use it for shopping as soon as I withdraw it from the ATM. but if there are shops that accept crypto payments. of course i would give it a try if it was a shop close to my house.

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Quote from: nakamura12 on October 08, 2022, 03:35:38 PM

Not all want to spend their crypro when market is down and I am also sure that many people would also be happy enough to buy all the crypto that you spend when the market is down.

You are right most people prefer to buy more coins during the bearish market. They mostly spend coins or sell coins in the bullish market. But I think spending a small number of crypto coins is okay, it isn't a big matter. We should be proud to support crypto adoption as a payment tool for online stores. We don't only think about our investment, we also need to think how our contribution to support the development of crypto coins. Since we expect crypto can be digital currencies that we can use globally, it should be not a problem to spend our crypto coins in online or offline stores.

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Have spent on several altcoin and almost 30% spent in Bitcoin trough market down, all in my portfolio investing right now and waiting when pump to sell, almost one months invested all my money keep holding because not interested to sell with little price up only. Keep patience waiting for Bitcoin can reach higher price, maybe if still lower next week I will sell half my portfolio assets and try to re investing with another lower price. Long term investment about one or two months still not worth in this year after market down and not recovery faster, most slowly for bitcoin up before back going dump.

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Not all want to spend their crypro when market is down and I am also sure that many people would also be happy enough to buy all the crypto that you spend when the market is down. We want something to earn profit but there are some cases that you are forced to sell your crypto either it's because there is some emergency that you needed money to pay and other situations but we all know that we can have our crypto back by buying to start again.

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