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?
Cryptocurrency and bitcoin in particular means different things for different people. For some it is a form of security. For example recently due to the devaluation of my country's currency most of the citizens began to turn to bitcoin to save their financial assests from going down. Furthermore we have the folks who see it as a tool for investment. This is the category I fall into - especially short-term. I do spend bitcoin irrespective of what is going on in the market. It is need based spending for me. 
Topic: Are you ready to spend crypto when market is down - page 14. (Read 3182 times)
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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?
Well, this is a tricky one I must say, as it is currently, I can tell you that most people buying cryptocurrencies currently are doing so for the sole purpose of profiting, I personally can not deny this fact.So with all sincerely, I prefer spending fiat over spending crypto for purchases or payment for goods and services, crypto for me is an investment instrument, maybe in the future, this might change but this is what it is currently.
Maybe when cryptocurrencies become more stable in their prices, that time, profiting from it takes a very long time, maybe then, we all can really begin to use it as a medium of exchange of goods and services.
Since you aren't speaking about just Bitcoin the the question itself has lost value and taste. I was enthusiastic to give my emphatic reply until and read the body of your post saying not only bitcoin, you should know this isn't a question.
To start with, it's hard spending coins that aren't Bitcoin especially unrecognized Altcoins and it becomes even worse spending them in the dip because the to have value and very little want that as purchasing power for their goods or services.
So I would answer in accordance to what I do, and yes I am not only ready but happy to spend Bitcoin this period because I don't just see bitcoin as a short run, long run investment, I am also ready to accept it as well for payment for my services too.
To start with, it's hard spending coins that aren't Bitcoin especially unrecognized Altcoins and it becomes even worse spending them in the dip because the to have value and very little want that as purchasing power for their goods or services.
So I would answer in accordance to what I do, and yes I am not only ready but happy to spend Bitcoin this period because I don't just see bitcoin as a short run, long run investment, I am also ready to accept it as well for payment for my services too.
Even on bull market, I don’t want to spend my crypto because I already consider this as investment and I know in the future this can be more expensive. Cryptocurrency is not just meant as a currency anymore, it became a store of value and we cannot blame many for this doing because they can really earn more instead of spending it. The trauma of buying pizza with Bitcoin before might be one of the reason why many rarely spend their crypto for this kind of purposes.
But when you spend your money on the things that you truly love, you will feel amazing and you won't ever regret it. There are people who got trauma when they heard that legendary btc pizza but they don't realize that if the guy didn't do that, btc won't' be as popular as today. Btc started as a currency so people must give credits to this. They need to use their btc somethings in order to honor it. For me I've been using my crypto no matter what is the conditions in the market.I use it for paying my bills and then selling prepaid services such as internet data's, call credits, and game credits. Unfortunately, there are no stores yet which accepts crypto in my place but if ever they discovered it soon I will be happy to use my crypto instead of cash and other payment methods that they support.
I would rather never spend crypto. Its just a huge disappointment to see your coins going down. Instead, why not hedge your coins against fiat and make more coins by trading? Never sell at a loss, never forget to buy at a bargain. Although depending on your individual trading strategy, you might find hodling to be the better of the two options. Either way, coins to me are more valuable then most unnecessary things. The only except is living costs and thats it, really. Apart from those spendings, there is absolutely no excuse whatsoever to throw away coin. 
I guess all of us feel that way, nobody like to spend crypto, but people get into some crazy life situations, and simply selling some crypto can be a life safer, of course, if you have what to sell! So it's not about whether are we ready to spend crypto when the market is down, I believe if we get in some situation without many options we will make a decision and we will do what we have to do, simply as that! I know some people have that deeper emotional connection with crypto, nothing extraordinary, people get emotionally connected with all sorts of things around them, but when things get hot it's just an asset that can help you, it would be foolish not to use it.
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?
Let’s face it. Bitcoin or any cryptocurrency at the present is still mostly valued as an investment and less as a currency, maybe because the government itself fails to recognize the high potentials of bitcoin or any cryptocurrency to become a global currency. Also, no one will dare to spend his crypto in exchange for a lower value where in fact he bought it at a higher value before. Spending crypto to promote faster global adoption is good, but for me it should come in case to case basis, like in unforeseen emergencies wherein you have no available fiat on hand and the hospital is willing to accept crypto for payment so you have no choice but to make instant payment with crypto regardless of how high or low its value. 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?
as long as it is available to use then why not? but the problem here is that the availability is limited , Our place has only small chance of spending or accepting crypto so how can we have this option.
spend if you badly needed , but as long as you are in capable of holding then best to keep it and just hold on the funds and let time tells you the profit.
As investors sometimes we have to think and move fast, it's better to lose a small amount than lose all the money, sometimes the red market happens for too long, and if we keep holding on then we will lose more, and I prefer to cut loss and try something new.
If it's still not too late, it's better to cut the loss with a small amount of loss. But for those who are late in doing so, it is clear that they will be forced to hold on and wait for the recovery to occur again in the market, even though it could last a long time. But as long as you haven't sold and still keep the asset as usual, it's still possible to get back the money you've lost through recovery.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?
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?
If you don't spend your cryptocurrency in a market situation like this, it is fine, it is still cryptocurrency, I didn't know that not spending it would define cryptocurrency as not a cryptocurrency. Not spending it in a bear market means you have the right knowledge about financial management. I don't see any benefit at all spending it in times like this, so why.
Other people has no other choice maybe but to spend it because they don't have any fiat anymore to buy their needs, and there's nothing wrong with that. However, having 2 or more source of income would be better for you not to spend your valuable cryptocurrency in times like this.
Whatever the need may be, I would prefer to hold to my crypto assets than sell them off when the market is down. This is why it is good to have a side job that pays in case of this kind situation arises than spending your crypto when the market is down. I see investment as a long-term investment goal, not a short-term investment I won't make profits in the long run.
As investors sometimes we have to think and move fast, it's better to lose a small amount than lose all the money, sometimes the red market happens for too long, and if we keep holding on then we will lose more, and I prefer to cut loss and try something new.
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?
Isn't it always a form of investment when you hold different currencies and decide which one to use for your purchases. Before crypto currencies my investments where either in Euros or US dollar, there wasn't much to choose from when making bigger purchases. Now I hold quite a few different coins and all of them are currencies in my eyes. And it is a normal thought process to decide which currency makes the most sense to sell right now. All smaller purchases I am doing in Euros, because that is where most of my income is coming in. For larger purchases like the next vacation I would choose right now US Dollars, both Euro and cryptos are low at the moment and I want to hold them until the market recovers.
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?
I don't understand why I should be willing to spend crypto when the price is decreasing.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?
Doesn't that mean I have to use more amount to pay or buy something?
I think it's a bad way to do it because when the market is going down, we should use it to buy and increase the number of coins we have so that when the market can reverse up, we will get more profits.
From that profit, we can use it to buy something or pay for something while we still have other money that we can use to buy more amounts.
Right, it is a mistake if we sell when the market is down like now, most of the mistakes we make are buying when the market rising because of the market thinking will rise and sell when the market is down because of panic and afraid of continuing correction, if we already know cryptocurrencies At least a year then we know about trends like this.
They were amazed to see it and thought they could participate and buy at that time, so they started buying the coins instantaneously and waited for the price to keep rising.
But it won't always be what they want because some coins won't be able to increase again and instead drop drastically again.
And that's what makes them lose.
I don't understand why I should be willing to spend crypto when the price is decreasing.
Doesn't that mean I have to use more amount to pay or buy something?
I think it's a bad way to do it because when the market is going down, we should use it to buy and increase the number of coins we have so that when the market can reverse up, we will get more profits.
From that profit, we can use it to buy something or pay for something while we still have other money that we can use to buy more amounts.
It's better to always go by the rules, buy when you fall and sell when you go up, so we can profit and anticipate losses.
But if people have an urgent need and want to sell the coin when the price drops, that's up to them because I think they've thought about it.
I would rather never spend crypto. Its just a huge disappointment to see your coins going down. Instead, why not hedge your coins against fiat and make more coins by trading? Never sell at a loss, never forget to buy at a bargain. Although depending on your individual trading strategy, you might find hodling to be the better of the two options. Either way, coins to me are more valuable then most unnecessary things. The only except is living costs and thats it, really. Apart from those spendings, there is absolutely no excuse whatsoever to throw away coin.
My approach has been relatively stable for years: when I can easily get by with the fiat I have, I don't sell me BTC. If the price is particularly good (in relation to how it's been lately), then I might sell some money in advance, knowing I'll need it. Otherwise, I try to use fiat and Bitcoin is basically for savings. If there's something expensive I'd like to buy but can't without BTC, I'd most likely sell as long as there's no prospect of swift recovery of the price (if it's bad). It seems that some others have similar strategies here as well, focusing on not spending unless they have to.
This is a good thing and indeed it is mostly done and I personally do this too.As long as I still have Fiat and banknotes, I only use them for my daily needs and until now while the market is still volatile I haven't even made any sales with the portfolio I currently have and am only adding to it little by little.
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 depends. Either it’s for investment or as a daily currency, no one would want to spend if the current value is also low, so I might wait for a more price increase so that I can also make a good purchase at a good value. Besides, there’s fiat anyway. The reason why we should never run out of fiat so that if we can’t spend our crypto, then we should always be ready to spend our fiat. 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?
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?
Do you mean pending crypto for payment?Or spending crypto for trading?
So far, I am only using my crypto for trading and alsoinvetsment. As long as the crypto has potential exactly to rise up in the future with strong utility and chance, I prefer to make them as long term holding. Moroever, we know that all cryptocurrencies are falling down during this bearish market.
ready or not, we must be ready for all situations in the cyrpto business
I don't understand why I should be willing to spend crypto when the price is decreasing.
Doesn't that mean I have to use more amount to pay or buy something?
I think it's a bad way to do it because when the market is going down, we should use it to buy and increase the number of coins we have so that when the market can reverse up, we will get more profits.
From that profit, we can use it to buy something or pay for something while we still have other money that we can use to buy more amounts.
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?
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?
I don't know of others, but I find it very difficult to spend bitcoin when the market is down. I'll rather adjust and manage myself or continue to use fiat than to sell bitcoin when the market is red.
But if there is some greens, I'll be cool to spend bitcoin until the market goes down again and I'll try to buy more bitcoin at low.
If everyone should use bitcoin for daily payments or purchases, that is how it would likely be. Who knows if it will regulate the market
This depend on how important what you are purchasing is. Sometimes one may be out of cash and you may have enough token, in such case one have no option than to buy with his/her token. I could remember I sold my matic some months ago when dip at 0.58 to secure my apartment.
That is the real economics behind money. The demand and supply, the need and wants, the opportunity cost all applies. No one would be willing to sell out coins at dip, but when it's absolutely necessary we do it without recurse.
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?
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?
Let's be honest, not so many people are willing to spend their precious crypto especially during bear season. Because, not only that you're paying more crypto equivalent to fiat price, but also people are actually accumulating more. Though, we all wanted to have a mass crypto adoption and one of the good reason for it to happen is when we start to practice using Bitcoin as a mean to pay for something, but many people considered Btc as a store of value instead.
Though I myself also love to spend my Btc to pay for something, but my city has little to no access of merchants and services that accepts crypto.
My approach has been relatively stable for years: when I can easily get by with the fiat I have, I don't sell me BTC. If the price is particularly good (in relation to how it's been lately), then I might sell some money in advance, knowing I'll need it. Otherwise, I try to use fiat and Bitcoin is basically for savings. If there's something expensive I'd like to buy but can't without BTC, I'd most likely sell as long as there's no prospect of swift recovery of the price (if it's bad). It seems that some others have similar strategies here as well, focusing on not spending unless they have to.
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