Black Friday deals and your plan to hold bitcoins.

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Quote from: Stepstowealth on November 28, 2023, 08:34:52 AM

Although Black Friday is commonly associated with sellers offering huge discounts to customers, is this really true?

Black Friday is an excellent time to buy only what you need, not what you want. The event's psychology is to give consumers greater purchasing power and encourage unnecessary spending.

I don't think too much about about black Fridays but I'm confidence that they dont increase the purchasing power but people just love it the way it was back because of the culture. Some people are doing black Fridays because they think others are doing it. Black Friday is like discount sales for the public for the people to buy whatever thing they want to buy without going to.think about it twice.

It's that discount amount they gave that makes a lot of people to have the confidence to buy what they want, even sometimes they don't have interest of buying. It's this that encourage them to use the market.

Quote

For example, a lot of individuals or bitcoin holders may sell significant amounts of their cryptocurrency during this time because they wish to purchase items that will affect their investments. Black Friday deals can affect your plan to hold bitcoins, and as an investor, you have to be careful and be disciplined enough to control yourself.

Have you purchased any item during this time?, was it a need or a want?
Did you have to use some or a significant amount of your bitcoins?

Even if you hold plenty of bitcoin and there is nothing good around to buy bitcoin, I don't think it's a great idea to use it to buy anything. Using your bitcoin that is supposed to be used for holding for long term but you decide to convert everything to what you like is one of the dullest thing a bitcoin holder will ever they because it will not worth and no matter what no try to explain it to people will not be justified.

fullhdpixel

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Quote from: Stepstowealth on November 28, 2023, 08:34:52 AM

Although Black Friday is commonly associated with sellers offering huge discounts to customers, is this really true?

Black Friday is an excellent time to buy only what you need, not what you want. The event's psychology is to give consumers greater purchasing power and encourage unnecessary spending.

For example, a lot of individuals or bitcoin holders may sell significant amounts of their cryptocurrency during this time because they wish to purchase items that will affect their investments. Black Friday deals can affect your plan to hold bitcoins, and as an investor, you have to be careful and be disciplined enough to control yourself.

Have you purchased any item during this time?, was it a need or a want?
Did you have to use some or a significant amount of your bitcoins?

Are Black Friday deals so intriguing that people sell the Bitcoins that they are supposed to be holding just to buy those things even if they don't need them? Or even if you need a thing that is on sale, why sell your Bitcoins? If you don't have money at the moment, plan it for some time in the future, maybe next month or so, you can't sell your Bitcoins before it's your desired time in the market just to purchase in a Black Friday event. I have never been this intrigued about buying anything even if it's 70% off, I wouldn't sell my Bitcoins for it.

People need to have their priorities right, if investments like they do in Bitcoin or any other thing are the first thing they think of withdrawing when they need money, they shouldn't do it in the first place. I wonder what such a person would do if they had bought Bitcoin at $30k and now it's at $25k and they want to withdraw their money for the Black Friday sale.

JoyMarsha

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Quote from: Stepstowealth on November 28, 2023, 08:34:52 AM

For example, a lot of individuals or bitcoin holders may sell significant amounts of their cryptocurrency during this time because they wish to purchase items that will affect their investments. Black Friday deals can affect your plan to hold bitcoins, and as an investor, you have to be careful and be disciplined enough to control yourself.

Even though Black Friday seems to be the time to buy things at a discount price, but that won't make a bitcoin holder who's into crypto to begin to sell off their crypto assets just because of that.

It will be a bad move for anyone who has considered hodling bitcoin for the long term would think of taking. It is absurd for someone to lay aside their future investment in bitcoin, all because they want to buy things at a discount price during Black Friday. It doesn't sound reasonable to the hearing. Anyone that hears about that, will ask whether the person is okay with his senses.

By the way, how much discount price is being removed during Black Friday that will make someone sell his or her crypto? If a crypto investor is to check that(discount price), he or she would withdraw ever trying that because it isn't worth it.

Quote from: Stepstowealth on November 28, 2023, 08:34:52 AM

Have you purchased any item during this time?, was it a need or a want?
Did you have to use some or a significant amount of your bitcoins?

I have. I have always known the date of each year Black Friday, so before that time comes, I have already saved up before that time so that I won't be forced to borrow money from someone else or think of selling my crypto assets to it

Cryptomultiplier

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Black Friday deals have become a common practice mostly for people who have large superstores and warehouses that have so much old goods and products and willing to sell it at discounted prices.
I am yet to even partake in any since I started seeing ads and posters for such.

Still, most of the products sold are being sold at this time when the economy has been terrible and the bills left to clear off is mounting, so much so that even the price of BTC is nearing $40k and with prospects of rising.
I plan to HoDL BTC, but only after the halving has been effected and the bull run is in play.

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Quote from: Stepstowealth on November 28, 2023, 08:34:52 AM

Have you purchased any item during this time?, was it a need or a want?
Did you have to use some or a significant amount of your bitcoins?

Black Friday this year at least for me was terrible, I didn't manage to get any good deals for the things I wanted to buy. My main focus was a new graphics card and a new monitor for which I was checking prices the last few weeks and hoped to get a good deal for Black Friday. The graphics card I really wanted was either not being reduced in price on some website, or so low in quantity that it was already sold out at 8 o'clock in the morning. Prices for graphics cards went down a lot this year and I am not hoping that there will be some cheap Christmas deals for me to get a new one. A new monitor for my PC is something I want to buy with a new graphics card and here the prices were really ridiculous during Black Friday. The monitor I am looking at cost 300 Euros at the end of October, during November they increased the price to 400 Euro, only to bring it back down to 300 during the Black Friday week. Maybe there is so much demand for new PC equipment at the moment that the companies don't need to offer real deals as people are still buying a lot. For my purchases I am not going to use any Bitcoin, I will keep holding at least until end of 2024 before considering making any purchases.

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Quote from: Stepstowealth on November 28, 2023, 08:34:52 AM

Have you purchased any item during this time?, was it a need or a want?
Did you have to use some or a significant amount of your bitcoins?

No. I’ve seen a ton of Black Friday deals and I have not purchased anything yet. I equally don’t have any plan to purchase at all too, because I believe that it mustn’t be now. For those who are hoarding and are following their investment plan, don’t get distracted. Everything you see now can be purchased later, and you can even purchase a more recent version of it when the time comes. For now, stick to your investment plan no matter how tempting your wants are. The discipline is what will help you finish off.

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Quote from: slapper on November 30, 2023, 05:49:35 AM

Quote from: PeRo on November 30, 2023, 05:26:58 AM

Well, if you have a separate budget for every purchase/investment forms then you shouldn't have a problem with buying yourself something on a great discount - that's how I organize my finances. If you don't, then you have to be at least disciplined not to go overboard with spending money you could've used to invest (of course, spending Bitcoin directly is not wanted at all).
It all depends on how organized are you personally, it will reflect on the investments you make.

As for Black Friday, I've seen some good deals and I have made some purchases but only on stuff I already intended buying and I knew the price before so I made sure it's really a discount and not a marketing trick.
You can genuinely find some good discounts but there are also many fake discounts you should watch out for. My strategy is following the price of my wishlist items so I know if a discount is real.

It's interesting to explore the human mindset's susceptibility to amazing offers. Budgeting for certain investments or purchases is wise. Behavioral economics shows that discount excitement often trumps logical budgeting. Even with a separate budget, overspending on discounted things can lead to a psychological trap where we excuse additional purchases. This conduct, intriguingly, often reallocates monies that may have been better invested.

Your point about Black Friday is correct, yet deals are everywhere in retail today. Black Friday has become a cultural phenomenon, a shopping holiday where social excitement boosts spending. Actually, smart buyers like you can locate better bargains year-round. This begs the question: is Black Friday more about community consumption than actual savings? Deals that happen discreetly but frequently throughout the year may be more profitable.

It's indeed fascinating how the excitement of discounts can sometimes override logical budgeting decisions. The observation about overspending on discounted items creating a psychological trap is particularly relevant, as it often leads to justifying additional purchases. The notion that the social excitement surrounding events like Black Friday may contribute to increased spending raises an interesting question about the true nature of the day. Is it more about community consumption and the thrill of shopping together than actual savings?

Your suggestion that smart buyers can find better bargains year-round implies that discreet deals happening throughout the year might be more financially beneficial. Your perspective encourages a deeper reflection on consumer behavior, economic decision-making, and the role of cultural phenomena like Black Friday in shaping spending habits. It's a reminder for individuals to stay mindful of their financial goals and not get swayed solely by the excitement of discounts, considering more strategic and sustainable approaches to saving money.

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Quote from: lovesmayfamilis on December 01, 2023, 06:40:09 AM

The expression about buying those goods that we need, and not those that we want, is not entirely clear. It sounds like the same thing to me. I love Black Friday because it allows me to get the items I need at a great price.
I'm not strict about tomorrow. We can afford the purchases we can make without leaving ourselves with empty pockets. So I don't think strictly limiting your needs should limit your investment in Bitcoin. If I want something, I'll buy it. When tomorrow comes, he will tell me how to live in it.

I feel like what you "need" is something that would allow you to keep living at the same standard, and something that you have to have in order to keep living. Let me make it clear, you need food, but you do not need luxury food, so what this means, if you eat ramen today to survive because you need to eat everyday, then yeah that's a need, but if you purchase a t-bone steak then that's luxury and you should not do it if you want to save money. That type of thing matters and should be important case.

I understand it may not feel like the difference is clear, but when you check the prices you get it. Or like getting a new macbook, if it's for your business and you will make more from it then that's a need, but if it is just for fun then you absolutely do not need to get it.

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Quote from: ChiBitCTy on December 01, 2023, 04:33:42 PM

I heard on the news that this Black Friday and Cyber Monday were the largest online shopping days ever. I believe it said that, or at least the largest it's ever been for these two days. It's kind of sad to see the brick and mortar locations all closing down and everything becoming purely virtual (but also thanks to thieves ransacking stores in mobs).

Anyways, you have to be careful as some of these companies put things on "black friday" sale but were really just the same sale that it was on already before. Companies getting shady.

They are one of the biggest but that means employees of these online stores and couriers work in sweat and tears. If they want to make these 50% deals they should spread them a bit and they'd profit because people would be able to buy a number of discounted items if only they could use 2 or 3 of their monthly wages. It's hard to afford 2 large appliances at the same time when they get discounted both on the same day, so they choose one, but could get both if there was a discount in a month or 2.

I did not buy anything because there's nothing that I need. I wanted a few tools, but conveniently the tools that are really good were not discounted on Amazon. The greatest discounts are on things that people rarely buy, but good tools are 5% off if you're lucky. Nothing special to be honest. Most of the discounted stuff is cheap Chinese shit nobody really needs at home.

ChiBitCTy

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I heard on the news that this Black Friday and Cyber Monday were the largest online shopping days ever. I believe it said that, or at least the largest it's ever been for these two days. It's kind of sad to see the brick and mortar locations all closing down and everything becoming purely virtual (but also thanks to thieves ransacking stores in mobs).

Anyways, you have to be careful as some of these companies put things on "black friday" sale but were really just the same sale that it was on already before. Companies getting shady.

Andrija Branislav

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If you look at market habits, it's been like this lately, but I think it's normal for prices to correct a little. Maybe some people sell their BTC for holidays at the weekend but after that on Monday they usually get excited again because all public activities start on Monday.

If it goes down, it means a bonus and can be accumulated. Wink

.

bayu7adi

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This actually happens to me quite often. In my country, there's always a massive discount period every month on the corresponding date, like January 1, February 2, March 3, and so on until December 12. Each month has one day for the same date and month number, guaranteeing a discount (1x/month). Oddly enough, some of the items I purchase turn out to be useful, while others are completely pointless. I once bought a small portable speaker that's typically used for vacations, but I rarely go on vacation, so it ended up being severely underutilized. There are other useless items as well, and I'm reluctant to list them one by one.

However, items that have been on my wishlist for weeks usually serve a more optimal purpose. I've found the best way to make my purchases more effective is by using the wishlist or cart feature. I conduct a quick evaluation when I'm about to check out regarding their functionality in the future.

Well, at least I'm not selling my BTC for such non-essential purposes. There's some regret, but discounts indeed influence many people's psychology to shop with a higher budget.

lovesmayfamilis

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The expression about buying those goods that we need, and not those that we want, is not entirely clear. It sounds like the same thing to me. I love Black Friday because it allows me to get the items I need at a great price.
I'm not strict about tomorrow. We can afford the purchases we can make without leaving ourselves with empty pockets. So I don't think strictly limiting your needs should limit your investment in Bitcoin. If I want something, I'll buy it. When tomorrow comes, he will tell me how to live in it.

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Quote from: Stepstowealth on November 28, 2023, 08:34:52 AM

Although Black Friday is commonly associated with sellers offering huge discounts to customers, is this really true?

Black Friday is an excellent time to buy only what you need, not what you want. The event's psychology is to give consumers greater purchasing power and encourage unnecessary spending.

For example, a lot of individuals or bitcoin holders may sell significant amounts of their cryptocurrency during this time because they wish to purchase items that will affect their investments. Black Friday deals can affect your plan to hold bitcoins, and as an investor, you have to be careful and be disciplined enough to control yourself.

Have you purchased any item during this time?, was it a need or a want?
Did you have to use some or a significant amount of your bitcoins?

When it comes to purchasing things, Isn't it better to save money months prior the black Friday sale rather than trying to get it from your investment? that's one of my way to budget my income because for me, if you really want to buy something you must get it from your savings unless there's an emergency. You have to be well disciplined when it comes to your finances in order to achieve the financial stability that you are looking for, always set a budget for your needs and wants so that you'll not able to use some of your investments.

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Quote from: Stepstowealth on November 28, 2023, 08:34:52 AM

Although Black Friday is commonly associated with sellers offering huge discounts to customers, is this really true?

Black Friday is an excellent time to buy only what you need, not what you want. The event's psychology is to give consumers greater purchasing power and encourage unnecessary spending.

Sometimes, it's not about the greater purchasing power, it's because some products has been long overdue in their shelves and store, the better strategy is to sell them at price Lowe than the sales price so as to.het back the initial investment than having the products on the stores than having nothing at all, most stores do this to avoid further loss on yheir investment just the way apple store does when they launched new iPhone and still have the previous ones in the store.

Quote

For example, a lot of individuals or bitcoin holders may sell significant amounts of their cryptocurrency during this time because they wish to purchase items that will affect their investments. Black Friday deals can affect your plan to hold bitcoins, and as an investor, you have to be careful and be disciplined enough to control yourself.

Have you purchased any item during this time?, was it a need or a want?
Did you have to use some or a significant amount of your bitcoins?

Bitcoin is an investment and should never be touched, spare mosey are what is supposed to be use for those that sees it as opportunity to get what they have been wanting to buy. Selling bitcoin half way to bitcoin halving is just strategy to lose your bitcoin to whales and that should be highly discourage. I don't fancy black Fridays, mostly are scams because they mostly remove the previous price tag and add new one with the same price.

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Quote from: AicecreaME on November 30, 2023, 05:39:33 AM

...

It's always better to find another source of income, for your holding to remain in your wallet for the next bull run, and not selling it little by little just to survive in everyday lives. It's better to hold it for the long run, and not just short investment.

Bitcoin is a profitable investment but also has certain risks. It would be a bad idea to put all our assets in bitcoin and expect it to bring us profits without any work. Investing in bitcoin should never be considered a main source of income even though sometimes the profit it brings us is greater than our monthly salary.

I always advise people to have a job with a stable income first before investing in bitcoin. Never consider bitcoin as a lifesaver when we are unemployed or poor. A job with a stable income should be prioritized over investing in bitcoin.

Eternad

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Quote from: Stepstowealth on November 28, 2023, 08:34:52 AM

Have you purchased any item during this time?, was it a need or a want?
Did you have to use some or a significant amount of your bitcoins?

Blackfriday is a hoax sale of all time like in my country which companies is just using same discount price as the regular discount and just changing the tags a blackfriday sale with exaggerated discount percentage.

This kind of fake advertisement is worst scam to make people purchased item even though they didn’t need it. I rarely purchased just because of sales promotion but rather when I only needed the specific item anytime. Buying on sale will just make you do unnecessary purchase due to the fake discounts.

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Quote from: Stepstowealth on November 28, 2023, 08:34:52 AM

Although Black Friday is commonly associated with sellers offering huge discounts to customers, is this really true?

Black Friday is an excellent time to buy only what you need, not what you want. The event's psychology is to give consumers greater purchasing power and encourage unnecessary spending.

For example, a lot of individuals or bitcoin holders may sell significant amounts of their cryptocurrency during this time because they wish to purchase items that will affect their investments. Black Friday deals can affect your plan to hold bitcoins, and as an investor, you have to be careful and be disciplined enough to control yourself.

Have you purchased any item during this time?, was it a need or a want?
Did you have to use some or a significant amount of your bitcoins?

If I want something, it's something that I need, I don't find interest in something that I don't need, I work extremely hard to make money, and I only spend it on things that are worthy.

Unnecessary spending you say, the thing is I always wait for black Friday to buy some things, imagine waiting a whole year before buying something you really need? That's because I want the cheapest price over all, this doesn't mean you should start buying things you don't really need just because black Friday discount is ongoing.

If you have a lot of money and you can't spend on yourself it's your problem, I brought stuffs for my partner many times before and I don't bother buying a thing for myself, I would rather invest my own money, this have been my way for years, but it get to a point that I said f**k it, and I spent some money on me.

It makes no sense to work very hard and not enjoy your money at some point, that's slavery to money in another definition, I don't encourage this practice, unless you can't afford it, we are running on borrowed time, do not forget this, if you can afford something you deserve it.

Strongkored

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Quote from: Stepstowealth on November 28, 2023, 08:34:52 AM

Have you purchased any item during this time?, was it a need or a want?
Did you have to use some or a significant amount of your bitcoins?

Spending the money you have by shopping when there is a Black Friday event or so on, in my opinion it is fine as long as you use your money, what I mean is not by using a credit card or by going into debt because one of the things that makes the economy run is that people use it by shopping but of course within your means.
But I'm not someone who makes events like Black Friday or when there are big discounts available to shop for certain items, I will only shop for certain items when I'm ready with the budget, and I often use the Bitcoin I have to buy certain items only but not at a special event.

slapper

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Quote from: PeRo on November 30, 2023, 05:26:58 AM

Well, if you have a separate budget for every purchase/investment forms then you shouldn't have a problem with buying yourself something on a great discount - that's how I organize my finances. If you don't, then you have to be at least disciplined not to go overboard with spending money you could've used to invest (of course, spending Bitcoin directly is not wanted at all).
It all depends on how organized are you personally, it will reflect on the investments you make.

As for Black Friday, I've seen some good deals and I have made some purchases but only on stuff I already intended buying and I knew the price before so I made sure it's really a discount and not a marketing trick.
You can genuinely find some good discounts but there are also many fake discounts you should watch out for. My strategy is following the price of my wishlist items so I know if a discount is real.

It's interesting to explore the human mindset's susceptibility to amazing offers. Budgeting for certain investments or purchases is wise. Behavioral economics shows that discount excitement often trumps logical budgeting. Even with a separate budget, overspending on discounted things can lead to a psychological trap where we excuse additional purchases. This conduct, intriguingly, often reallocates monies that may have been better invested.

Your point about Black Friday is correct, yet deals are everywhere in retail today. Black Friday has become a cultural phenomenon, a shopping holiday where social excitement boosts spending. Actually, smart buyers like you can locate better bargains year-round. This begs the question: is Black Friday more about community consumption than actual savings? Deals that happen discreetly but frequently throughout the year may be more profitable.

Topic: Black Friday deals and your plan to hold bitcoins. (Read 371 times)