Crypto in Q3-Q4 2020. Hodl or use for purchases? - page 2.

milewilda

legendary

Activity: 3094

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Quote from: MoneyPipe-HD on September 10, 2020, 09:53:16 AM

Hey everyone!

The price of crypto has been pretty volatile over the last few weeks and BTC has once again sunk below 11k. This made me curious about what the community does or plans on doing with its crypto assets today and in the nearest future. Do you hodl and hope for the price to skyrocket, or perhaps spend some of your coins on various goods and services, and if you do - what do you purchase? Is it even worth spending your coins on anything you can get using a credit card?

Going back to read up into Bitcoins whitepaper then it do particular talk about on being a digital currency that would really be used on peer to peer transaction.So basically talks about being a currency which supposed to be
used often.Here's a pdf link in case to those people who do like to read it up https://bitcoin.org/bitcoin.pdf. On the other side for those people who just tagged along just because they have seen big gains neither from net
or from their friends thats been involved to crypto then they are the ones who do believe the opposite or the other side that it is much worth to be hold rather than on using it to circulate.This had been quite a debate or
discussion for how many years now but to know that each people do have the rights on what they''ll gonna do into their own coin possesions.

Mahanton

hero member

Activity: 2730

Merit: 632

Quote from: MoneyPipe-HD on September 10, 2020, 09:53:16 AM

Hey everyone!

The price of crypto has been pretty volatile over the last few weeks and BTC has once again sunk below 11k. This made me curious about what the community does or plans on doing with its crypto assets today and in the nearest future. Do you hodl and hope for the price to skyrocket, or perhaps spend some of your coins on various goods and services, and if you do - what do you purchase? Is it even worth spending your coins on anything you can get using a credit card?

When you are truly a crypto enthusiast or supporter then using up your own coins on various services or buying up goods will really be on your main line of interest but there are
people who cant just afford on using up their coins if they would able to do so just like on their typical fiat money transactions since they do know that crypto investment
does have potential to make even more money or profits then they would just simply choose on saving it up rather than on spending it.When it comes to decision making
then its up to you on which side you are on.

MoneyPipe-HD

newbie

Activity: 10

Merit: 0

Quote from: TedMosby on September 10, 2020, 11:26:49 PM

IMO we need to have more liquidity not only on-exchanges, but off-exchanges as well.
Adoption above HODL.

We need to show people that crypto can be useful for payments.
HODL--> crypto = stocks.
Use it for payments --> crypto = money.
"money" is a more attracted word rather than "stocks"

I am starting to use low-fees cryptocurrency like DOGE and TRX as a payment for my transaction. even if the people who involved in my transaction didn't use it, I suggest them to have a wallet Grin

and maybe I will use Bitcoin LN too (because I am still learning about it since yesterday lol).

I agree that striving towards adoption is great, but where will people that do not own any coins get it from apart from exchanges? How many of them would be willing to purchase crypto and waste money on exchange rates and commissions? What could motivate ordinary folks to waste time on something like this, if there are less complicated means of doing it, like paying with a debit card or wire transfer?

maydna

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Quote from: Taskford on September 13, 2020, 05:56:06 AM

Quote from: maydna on September 12, 2020, 11:43:38 PM

~snip~

I always end up on this option since I can't use my bitcoin directly since there's no merchant yet accepting bitcoins as alternative payment option, but others could select to hodl or whatever they want on their coins since they are the one who's in control. But in this situation best to select to trade for short while and hodl when market is on hard pump.

I choose to hold as you and trade my bitcoin to gain more profit from the price volatility. I feel the profit is not too much for me, but it is enough to save some profit every week. Trading will be an alternative option for people who want to increase the bitcoin amount that they have. But you can't always expect to make a profit every time you trade because, with the volatility of the bitcoin market, you need to have skills to know when the good time to enter the market.

Perhaps, you should analyze deeper to find the low and high price to try to buy and sell. But be careful if you want to trade since bitcoin price still at the downtrend.

goinmerry

legendary

Activity: 2940

Merit: 1083

I think no need for a question like this, in general. Just be on our usual as before.

Simply, if a person needs to convert it to fiat, then go. If a person wants to hodl, then go.

What matters is, we want to maximize the advantages of what bitcoin can bring us, on whatever the trend.

Krislaw

sr. member

Activity: 1204

Merit: 388

I'm a fan of hodling my assets until it gets a decent price before j sell them and it surely works, but the time and the patience is needed for it to make hodling profitable, But when i spent some of my bitcoin I commonly use it on online shopping, so i won't use Cash on Delivery option, but mostly I buy another coin instead and accumulate it again slowly.

Ridwan Fauzi

full member

Activity: 1330

Merit: 147

In one side in order to crypto currency get mass adoption we need to use it as mean of payment. Maybe I'll use it when I found a coin where its fee for transaction is low and have a fast transaction proccess. We need to do that, I just thinking if crypto currency only use for an investment place only then we just need to wait that they aren't worth anymore.

There will be many crypto user who will sell the coin because they are aware that the coin doesn't have an intrinsic value, they only use as a speculation place where there is no one who having it. Also in another side, I hope that my country will legalized it as mean of payment soon. So as there will be many merchant who will accept crypto currency beside of money fiat.

sheenshane

legendary

Activity: 2492

Merit: 1232

As I see most of comments above agree on holding if they don't do trading, but holding is just common cases those people who had Bitcoin. I don't think if they will use this to pay a bill or purchase something online. Probably there is but it's rarely happening than the common transactions.

As a matter of fact, I saw an article that says, it is estimated that it has 42 Million Bitcoin Wallets and only 7.1M for the active users globally. Even in trading activity, it has only an estimated amount of 13M users in Coinbase which is very common users are in the US.

Others are payment processors are:

PayPal -- 235M
Mastercard -- 35.7M (for the US users) and 604M for International users
Visa Accounts -- 336M (for the US users) and 736M users globally

Source:

So, I think even if Bitcoin will pump or dump, holder's choice is still HODL and never use to purchase.

Jating

hero member

Activity: 2842

Merit: 772

Quote from: MoneyPipe-HD on September 10, 2020, 09:53:16 AM

Hey everyone!

The price of crypto has been pretty volatile over the last few weeks and BTC has once again sunk below 11k. This made me curious about what the community does or plans on doing with its crypto assets today and in the nearest future. Do you hodl and hope for the price to skyrocket, or perhaps spend some of your coins on various goods and services, and if you do - what do you purchase? Is it even worth spending your coins on anything you can get using a credit card?

Personally, I would rather hold my bitcoin now, no way that I'm going to use it because I'm a firm believer that the price will eventually pick up, maybe not this year, but perhaps a new all time high can be reach in 2021-.

Maybe there are members here that do used their crypto to buy stuff or even pay some bills, but not me. I'll stick to the plan of accumulation (this is a good time) and then sell some when we hit new all time high. What if it didn't hit all time high as predicted? Then I won't sell, simply as that.

Taskford

hero member

Activity: 2520

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Quote from: maydna on September 12, 2020, 11:43:38 PM

Quote from: ReiMomo on September 11, 2020, 03:58:17 PM

If you already purchased bitcoin then I suggest t hold during the price dumped and instead of panic selling just accumulate more for the future of having profit. Bitcoin investing is not intended for a short period of time, you need to patiently wait when the market will become bullish and of course cut your profit once there.

I never purchase using my bitcoin, because I think that every now and then it is hard to find even a fraction of bitcoin. Just save it and convert to cash when there is hype.

We have another option to use bitcoin such as trade bitcoin for making more profit, or if you don't feel good in trading, you don't have to do anything except hold your bitcoin and wait for the price increase. Bitcoin investing will be a short, medium, and long term, but bitcoin can be the way to make a profit from trading. Many people already use bitcoin to trade, and many use bitcoin to purchase something on the internet.

I always end up on this option since I can't use my bitcoin directly since there's no merchant yet accepting bitcoins as alternative payment option, but others could select to hodl or whatever they want on their coins since they are the one who's in control. But in this situation best to select to trade for short while and hodl when market is on hard pump.

GreatArkansas

legendary

Activity: 2506

Merit: 1394

For me, I have different uses of Bitcoin these days.
I used to hold Bitcoins since when I started to know what Bitcoin is and I am happy that I am still holding them.
Holding Bitcoin for me for a long term is important, as time goes by when I am adding Bitcoin to my bags, the price on which level I bought starting become no matter to me.
Speaking of using my Bitcoins to purchase some goods and services. I am using some of them especially when I am able to get some Bitcoins for working some small gigs online.

maydna

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Quote from: ReiMomo on September 11, 2020, 03:58:17 PM

If you already purchased bitcoin then I suggest t hold during the price dumped and instead of panic selling just accumulate more for the future of having profit. Bitcoin investing is not intended for a short period of time, you need to patiently wait when the market will become bullish and of course cut your profit once there.

I never purchase using my bitcoin, because I think that every now and then it is hard to find even a fraction of bitcoin. Just save it and convert to cash when there is hype.

We have another option to use bitcoin such as trade bitcoin for making more profit, or if you don't feel good in trading, you don't have to do anything except hold your bitcoin and wait for the price increase. Bitcoin investing will be a short, medium, and long term, but bitcoin can be the way to make a profit from trading. Many people already use bitcoin to trade, and many use bitcoin to purchase something on the internet.

I am using bitcoin to buy a product in the past, but I feel that I need to hold my bitcoin because I am waiting for the next bull run. I know that patients will be necessary in waiting for the next bull because we will see the price will be up and down many times.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: MoneyPipe-HD on September 10, 2020, 09:53:16 AM

The price of crypto has been pretty volatile over the last few weeks and BTC has once again sunk below 11k.

Pretty oppotunistic of yours to make this comment after the market dipped though slowly over the time almost a month.

Quote

This made me curious about what the community does or plans on doing with its crypto assets today and in the nearest future. Do you hodl and hope for the price to skyrocket, or perhaps spend some of your coins on various goods and services, and if you do - what do you purchase? Is it even worth spending your coins on anything you can get using a credit card?

Transacting bitcoin is often not an option in many countries where the governments have put a grey zone on it, somewhat semi-legal status and thus many have to keep storing their coins till they get a P2P deal done. These are often risky but the only way to cash out your bitcoins, so you need someone trusted from your community.

Credit card payments are available though at the big fee. There are some service providers that allow such transactions but you are again at risk here.

Spending coins on online stores is still a very small market. You dont get daily necessities but just bitcoin-themed products on such markets which some people proudly promote - like bitcoin tee-shirts, mugs, caps. What use do these junk have anyway, I mean I would rather buy some stuff that I can use than buying clothes with bitcoin.

ReiMomo

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Duelbits - $100k Bonus/week

If you already purchased bitcoin then I suggest t hold during the price dumped and instead of panic selling just accumulate more for the future of having profit. Bitcoin investing is not intended for a short period of time, you need to patiently wait when the market will become bullish and of course cut your profit once there.

I never purchase using my bitcoin, because I think that every now and then it is hard to find even a fraction of bitcoin. Just save it and convert to cash when there is hype.

Bitcoin_Arena

copper member

Activity: 2114

Merit: 1814

฿itcoin for all, All for ฿itcoin.

Quote from: MoneyPipe-HD on September 10, 2020, 09:53:16 AM

Do you hodl and hope for the price to skyrocket, or perhaps spend some of your coins on various goods and services,

I am an active day trader so I guess I don't qualify as some one who hodls. Once in a while i do withdraw some profits to spend.

Quote from: MoneyPipe-HD on September 10, 2020, 09:53:16 AM

and if you do - what do you purchase? Is it even worth spending your coins on anything you can get using a credit card?

I mostly purchase giftcards, subscribe to services that accept Bitcoin as a payment method and also do mobile refills. It's worth it spending cryptos on anything my credit card would do because it encourages businesses that accept crypto as a payment method to continue supporting crypto.

SFR10

legendary

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Quote from: MoneyPipe-HD on September 10, 2020, 09:53:16 AM

Do you hodl and hope for the price to skyrocket, or perhaps spend some of your coins on various goods and services, and if you do - what do you purchase?

I prefer using my BTCitcoins for what they were intended for: "To be used normally and not to be held in a place as an investment".
^{- I mostly purchase digital stuff.}

Quote from: MoneyPipe-HD on September 10, 2020, 09:53:16 AM

Is it even worth spending your coins on anything you can get using a credit card?

I see no difference ^{[regardless of fluctuations and other things]}.

semobo

full member

Activity: 1498

Merit: 146

If you have money in your hand then just keep using that for your daily needs and avoid using credit cards unless you have steady cash flow into your monthly income.Bitcoin and fiat both are same when it comes to spending in terms of value so if you want to save then save it or just spend it as your wish.

michellee

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I still hold bitcoin, and I don't want to use bitcoin to purchase something. I prefer to buy more bitcoin now as the price is low because I see the chance for bitcoin price to go up again. And no matter bitcoin price needs a long time to increase and hit the next highest price, and I will not have a problem because I want to make a big profit later. I don't use a credit card because I am too afraid that my expenses will be bigger. I prefer to use fiat money if I want to buy something.

TedMosby

sr. member

Activity: 1120

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https://bitcointalk.org/index.php?topic=5274318.0

IMO we need to have more liquidity not only on-exchanges, but off-exchanges as well.
Adoption above HODL.

We need to show people that crypto can be useful for payments.
HODL--> crypto = stocks.
Use it for payments --> crypto = money.
"money" is a more attracted word rather than "stocks"

I am starting to use low-fees cryptocurrency like DOGE and TRX as a payment for my transaction. even if the people who involved in my transaction didn't use it, I suggest them to have a wallet Grin

and maybe I will use Bitcoin LN too (because I am still learning about it since yesterday lol).

boyptc

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★Bitvest.io★ Play Plinko or Invest!

Quote from: MoneyPipe-HD on September 10, 2020, 09:53:16 AM

Do you hodl and hope for the price to skyrocket, or perhaps spend some of your coins on various goods and services, and if you do - what do you purchase?

I do both. When I'm out of cash, I have to spend and sell it for things that I need. Usually, that's the process, sell -> cash -> goods/services.

Quote from: MoneyPipe-HD on September 10, 2020, 09:53:16 AM

Is it even worth spending your coins on anything you can get using a credit card?

I don't use credit card so I don't have that mindset of buying things through credit. For me, if the thing you are purchasing can be bought by cash or by crypto and you badly need it. That's always an absolute worth it purchase.

Topic: Crypto in Q3-Q4 2020. Hodl or use for purchases? - page 2. (Read 650 times)