Are you ready to spend crypto when market is down - page 4.

DanWalker

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Quote from: Ludmilla_rose1995 on February 12, 2023, 06:16:27 PM

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?

spend crypto on a down market, I wouldn't do that. I have several financial plans and one of them is to buy crypto when the market is down, I am prepared some money too to do that. the best moment to buy crypto is when the market is down so I don't see selling it when the market is down is a wise thing.

Indeed, except for emergencies, and there is no better option, then I will sell my investment. There is no reason to sell or use my crypto during the bear season. Our goal in investing is to make a profit, and to do that is to buy low and sell high, and a bear market is a time to buy, not sell. Honestly, I believe it's a waste of money to spend bitcoins or potential coins on everyday purchases when we already have fiat available for us to spend.

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Quote from: stadus on February 13, 2023, 10:36:24 PM

Aside from that, I think most of the people are just into holding their coins until such time the coins will attain the imaginary line that they thought before cashing it and that means that even if offline/online stores will accept cryptocurrencies as a form of payment, people will still pay via fiat and not crypto because it will just be wasted especially when the market is down. Most of investors aim to buy low and sell high, and not buy high and sell low.

People tend to spend their coins in stores when they shouldn't; the store will profit more in the future, even during a bull market, retailers become less frequented by consumers holding crypto, which is when they should be spending.
It is unwise to spend much during crypto winter, not that it is a bad thing to do, but it should be a time when you should buy more, it is an opportunity to buy and hold them and unload them when the price appreciated, and that should even be the price at which you should spend more them (I mean altcoins and other shitcoins) for the courage you have endured when people are selling their bags.

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Quote from: wmaurik on February 09, 2023, 01:48:13 PM

Quote from: Fara Chan on February 08, 2023, 08:31:05 AM

Here have a different point of view, we have a different perspective, those who invest in Bitcoin certainly will not sell in a declining market because this is not a smart move and is not worth doing and doing a good job, they will not sell but buy for add investment assets, but for those who may be experiencing difficulties with their finances, they will sell some of their assets even though the market is declining.

If there are other options that can be sacrificed or used to cover existing difficulties, it's better not to sell your Bitcoin even if it's only half of the total assets you have. Because for me Bitcoin is more valuable than other cryptocurrencies now, so I will choose another option for me to sacrifice if I encounter unexpected difficulties. So don't be too hasty in making a decision to sell half of the assets you already own if you can still use other options to overcome a difficulty.

We can use other options, and one of them is when we have cryptocurrencies other than Bitcoin, for example we are talking about Altcoins, when you have Bitcoin and Altcoins, a real alternative that can be used when you are in a difficult position, they can sacrifice their Altcoins instead of Bitcoin, save Bitcon and use Altcoins to meet difficult circumstances and very urgent needs, and maybe this is an effective option when we have both, keep Bitcoin for a better hold.

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Quote from: xSkylarx on February 12, 2023, 06:00:14 AM

Quote from: nara1892 on February 12, 2023, 03:17:16 AM

It would not be a wise choice when we spend our crypto assets to shop when the market is experiencing a bear season. I said we have to keep holding on until the market returns to normal. Don't we have crypto for the purpose of investing and profiting in the future? It would be a wrong step when we actually issued when our portfolio was red. Whatever happens if circumstances don't urge us to release the assets we have, I will survive even for a very long time. These are some of the plans I had made before putting my money into crypto.

There are also instances where you need it in an emergency, so you don't have a choice but to spend it, or else you will borrow money from others just for your emergency. Though it would be really great if we kept holding this for a longer period of time and stopped the panic selling on it or just spent it because you want to buy your wants since you'll gain more profit in the long run, again, we can't dictate to people as it's their money and everything they can do for it, but this is just advice if they want to gain more profit.

I think when we talk about emergency funds, before we invest our money here, the main thing is to manage finances, which of course makes an emergency fund available.
after dividing for needs, buying what we want and setting up a new emergency fund, the rest is used as an investment so that things like you said don't happen.
We must be aware that investing is not only 1 or 2 months that can be taken if you want to get a profit but this requires a process so when you are still looking at this for an emergency fund, apart from needing to manage your finances even better and don't touch the investment it is something good because it is even if it is done several times when you are still confused about placing emergency funds and investments, the result will still be the same in the end.

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Quote from: stadus on February 13, 2023, 10:36:24 PM

Quote from: Ludmilla_rose1995 on February 12, 2023, 06:16:27 PM

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?

spend crypto on a down market, I wouldn't do that. I have several financial plans and one of them is to buy crypto when the market is down, I am prepared some money too to do that. the best moment to buy crypto is when the market is down so I don't see selling it when the market is down is a wise thing.

Aside from that, I think most of the people are just into holding their coins until such time the coins will attain the imaginary line that they thought before cashing it and that means that even if offline/online stores will accept cryptocurrencies as a form of payment, people will still pay via fiat and not crypto because it will just be wasted especially when the market is down. Most of investors aim to buy low and sell high, and not buy high and sell low.

Most of them are into investment so I will take your opinion in terms of instead of paying using crypto even the offline/online stores are accepting is as a mode of payment, those who are holding crypto will continue to use fiat and not to let their crypto as they are hoping that they will manage to gain from this investment market that they've chosen.

Unless, this holder is already fearing the chance of more downfall or they are really engaged with crypto-ecosystem with the knowledge that they have in terms of cryptocurrency.

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Quote from: Lubang Bawah on February 13, 2023, 08:57:30 PM

Of course this is a difficult decision because we have to sell when the market is down or we have to lose money, sometimes investing makes us ready for all conditions, and my experience is when the market down in early 2022 or a year ago I was happy because I was still selling some crypto assets at the price is higher than now, I once bought at $ 56k, then I sold when the price was $ 38k, of course I made a loss but that's better than holding on until now.

and if only we knew after letting it go and buying for $16k yesterday, then it would be much quieter now to hold on to it. I think that's the risk, and we must really understand the risks that might occur, because in trading or investing we must be able to accept whatever happens with the decisions we make. how can an investor survive, I think because they can take advantage of the moment and dare to take risks with confidence in the analysis that has been prepared

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Quote from: Ludmilla_rose1995 on February 12, 2023, 06:16:27 PM

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?

spend crypto on a down market, I wouldn't do that. I have several financial plans and one of them is to buy crypto when the market is down, I am prepared some money too to do that. the best moment to buy crypto is when the market is down so I don't see selling it when the market is down is a wise thing.

Aside from that, I think most of the people are just into holding their coins until such time the coins will attain the imaginary line that they thought before cashing it and that means that even if offline/online stores will accept cryptocurrencies as a form of payment, people will still pay via fiat and not crypto because it will just be wasted especially when the market is down. Most of investors aim to buy low and sell high, and not buy high and sell low.

Lubang Bawah

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Of course this is a difficult decision because we have to sell when the market is down or we have to lose money, sometimes investing makes us ready for all conditions, and my experience is when the market down in early 2022 or a year ago I was happy because I was still selling some crypto assets at the price is higher than now, I once bought at $ 56k, then I sold when the price was $ 38k, of course I made a loss but that's better than holding on until now.

wmaurik

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Quote from: crunck on February 12, 2023, 10:22:06 AM

No one is good enough as you think, people are using crypto to trade or spend even we are in a bear market because they are not using the coins they bought at a high price. They use fiat to buy crypto and spend instantly, they don't lose anything. I'm also using crypto to buy some items, but I'm not using my investments. I just buy them at the current price on the exchange and use them for payment.

In essence, everyone does not want to lose and will always avoid losses through anything as much as possible at this time. Because there comes a time when one has to stick with fiat by not sacrificing their crypto or investment at this point. But there are also those who sell crypto when they see that there is a slight profit which these profits can also be used to shop for other things because on the other hand there are no losses as long as the capital is still visible.

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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?

It's okay, because there are a huge number of services that accept Bitcoins:
eBay - a platform for electronic auctions; Amazon is the largest online hypermarket where they order everything from food to jewelry; overstock – household goods; on Newegg – an online hypermarket, children's toys and household goods; eGifter – equipment, sports goods.Nafa - gift cards for making purchases in Flipcard– book exhibition, PVRCinemas.
And many others!

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Quote from: nara1892 on February 12, 2023, 03:17:16 AM

Quote from: cafee_orange on February 11, 2023, 05:27:30 AM

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?

Are there still other options for making transactions besides having to use Crypto? if there are other options, for example, being able to pay using Fiat money, then I will not use Crypto for payment. For me it's better to keep Crypto for a long time until the market normalizes than having to sell it when the market doesn't support it

It would not be a wise choice when we spend our crypto assets to shop when the market is experiencing a bear season. I said we have to keep holding on until the market returns to normal. Don't we have crypto for the purpose of investing and profiting in the future? It would be a wrong step when we actually issued when our portfolio was red. Whatever happens if circumstances don't urge us to release the assets we have, I will survive even for a very long time. These are some of the plans I had made before putting my money into crypto.

right, I agree with what you said. it is not right to release crypto in bad market conditions. this is a form of someone's greed if they release their crypto in such conditions, even though the crypto has a good future. the point is, whatever the conditions experienced by many Crypto holders, if the situation is not urgent it is better to hold your crypto until time and market conditions are on your side. this is a bit of a suggestion from me

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That's not really a matter when a person spends their crypto whether it's currently at a high price or during its low. The essence is there that it's being used. No matter what the price is as long as there's usage on it and an individual spends it then that's the actual use of it. But if not, then that's how a lot of us see crypto, as an investment. I think with this concern, it's important to know it because there are countries that are too strict with this implementation for crypto or any specific of it as a security.

Ludmilla_rose1995

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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?

spend crypto on a down market, I wouldn't do that. I have several financial plans and one of them is to buy crypto when the market is down, I am prepared some money too to do that. the best moment to buy crypto is when the market is down so I don't see selling it when the market is down is a wise thing.

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Quote from: burugcrypto on October 06, 2022, 10:39:54 AM

Thanks for your responses. I am not judging anyone because everyone is true to some extent and right from their prospective. A lot of people are Seeing Bitcoin as an Security/Investment instrument and profit from it.

Quote from: uneng on October 06, 2022, 10:11:39 AM

I'm not aware of many stores accepting bitcoin and altcoins as payment method. But if I found a product of my interest online and if it were possible to pay for it with bitcoin, I would definitely make the purchase, despite bitcoin being cheap or expensive on the currently moment. I'm in favour of using btc as currency, instead of an investment exclusively. I believe that is a good way to encourage more sellers to start accepting crypto from their customers on their respective shops.

Anyway, without doubts that is not the general mindset in crypto universe. Most adopters still don't use or see their crypto assets as currencies, since they only hold and sell later for fiat profit.

I really like your answer personally as it matched Satoshi's aim of creating bitcoin. He wanted it be peer to peer payment instrument.

Bitcoin gets more value when more people come to spend it for purchases & not when holds it in their wallet. No offense to anyone. But people should stop seeing it as investment instrument and see it as normal currency.

when your country currency exchange rate is small to the crypto currency rate u see it as a very big investment,when u make ur local transactions you spend with efficiency

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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?

I would say it depends on your situation. You will most likely not spend your cryptocurrency if you have some other funds to spend on your daily purchases, what happens if you do not have extra funds and your crypto is what you have to spend, it wouldn't matter if you spend it directly of converted to fiat you are still spending it somehow. So if you don't have extra funds you might just end up spending your crypto.

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In my opinion, If you are not in the market space or are not spending crypto when the market is down you are making a big mistake. I understand that it may be out of ignorance, but if you want to build wealth for generations to come, and grow financial literacy, you have to be in the market. Of course you have to do an independent reset before investing.

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Quote from: Fredomago on February 12, 2023, 06:00:43 AM

Quote from: nara1892 on February 12, 2023, 03:17:16 AM

Quote from: cafee_orange on February 11, 2023, 05:27:30 AM

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?

Are there still other options for making transactions besides having to use Crypto? if there are other options, for example, being able to pay using Fiat money, then I will not use Crypto for payment. For me it's better to keep Crypto for a long time until the market normalizes than having to sell it when the market doesn't support it

It would not be a wise choice when we spend our crypto assets to shop when the market is experiencing a bear season. I said we have to keep holding on until the market returns to normal. Don't we have crypto for the purpose of investing and profiting in the future? It would be a wrong step when we actually issued when our portfolio was red. Whatever happens if circumstances don't urge us to release the assets we have, I will survive even for a very long time. These are some of the plans I had made before putting my money into crypto.

If the intention is for investment I will agree that it's not the right time to spend your crypto, instead it's the right time to add more with your hold asset, buying while the price still cheap will give you more profits when the market start to pump up, but for sure there are people who are not after investment alone, they are using crypto as a normal means for transacting and even the value is down they will continue to use and support this industry to make sure that the ecosysystem will continue to flow.

No one is good enough as you think, people are using crypto to trade or spend even we are in a bear market because they are not using the coins they bought at a high price. They use fiat to buy crypto and spend instantly, they don't lose anything. I'm also using crypto to buy some items, but I'm not using my investments. I just buy them at the current price on the exchange and use them for payment.

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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?

I would also like to see more people buying and selling with their cryptocurrency & virtual currency, but I also recognize that the use case is immature that it can be used as a regular currency, unlike common stock which can be converted to cash.

The whole concept of cryptocurrency is new and most people still have a lot to learn about it. I also feel that this has been around for almost a decade without change, maybe it's a good time for the general public to be introduced to the world of cryptocurrencies using something other than bitcoin.

Currently, cryptocurrencies only have a fraction of the worldwide use that currencies should have, plus they are not yet ready for mainstream adoption.

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Quote from: nara1892 on February 12, 2023, 03:17:16 AM

Quote from: cafee_orange on February 11, 2023, 05:27:30 AM

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?

Are there still other options for making transactions besides having to use Crypto? if there are other options, for example, being able to pay using Fiat money, then I will not use Crypto for payment. For me it's better to keep Crypto for a long time until the market normalizes than having to sell it when the market doesn't support it

It would not be a wise choice when we spend our crypto assets to shop when the market is experiencing a bear season. I said we have to keep holding on until the market returns to normal. Don't we have crypto for the purpose of investing and profiting in the future? It would be a wrong step when we actually issued when our portfolio was red. Whatever happens if circumstances don't urge us to release the assets we have, I will survive even for a very long time. These are some of the plans I had made before putting my money into crypto.

Even though I live in a country where bitcoin is not legal, and i don't see any stores that accept bitcoin payments but if my country allows payment in bitcoins, I will not be willing to spend my bitcoins either. As you said, we hold bitcoins, cryptocurrencies are for future investment, don't use them for daily spending, while fiat has taken over that task. In summary, I will just spend my bitcoins unless I fall into an emergency and have no other choice.

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Quote from: xSkylarx on February 12, 2023, 06:00:14 AM

There are also instances where you need it in an emergency, so you don't have a choice but to spend it, or else you will borrow money from others just for your emergency. Though it would be really great if we kept holding this for a longer period of time and stopped the panic selling on it or just spent it because you want to buy your wants since you'll gain more profit in the long run, again, we can't dictate to people as it's their money and everything they can do for it, but this is just advice if they want to gain more profit.

To prevent such a situation, you should always have some kind of cash reserve that will serve as an airbag for you. And if necessary, you will not need to sell your investments.

In addition, if there is no such reserve, and it happens that you need to sell bitcoins, because of the need for cash, and during this period the price turns out to be lower than you bought and you simply sell bitcoin at a loss, this will be an unpleasant situation. Therefore, there should always be a cash reserve and you don’t need to worry that this money is lying and not making a profit, this is your reinsurance, which will ensure your peace of mind.

Topic: Are you ready to spend crypto when market is down - page 4. (Read 3192 times)