Nah. It all comes down to the fees and speed of payment for me. If crypto is available as a payment method and if the payment speed is quick with negligible fees, I would choose it with my eyes closed.
On the other hand, if there is an issue with either of these factors, I would prefer other FIAT digital payment methods. Physical cash is my last preference these days.
Topic: Do you have two mindsets in crypto and irl world? (Read 430 times)
To say, I find myself being more generous in crypto, can spend dollars here and there like it's nothing whereas in irl I'd think twice before purchasing a higher priced items at a grocery store.
The real world and the crypto world are very different, if your mindset focuses on goods or crypto, it is clear that two things are different, whether from an economic perspective, shopping and so on.When you buy goods in the real world, if you think over and over again when you find out that the goods are expensive, that's normal because the goods may not be really needed or you can ask at another shop or your economy is more useful for other things.
But it's different with crypto, because if you're not quick to buy or sell crypto assets, the price of the crypto can plummet and you'll experience big losses, your economy will be wiped out, whereas the goods in the real world that's not the case, you want to buy next year are still there.
To say, I find myself being more generous in crypto, can spend dollars here and there like it's nothing whereas in irl I'd think twice before purchasing a higher priced items at a grocery store.
I feel it's like cash and paying online kinda thing, if you don't know what that is, it's quoted below:
Source: Cashless Effect
Assuming from posts above me, it looks like that's true for everyone. I can easily spend 100$ online but I think twice when I have to pay with cash for something and I believe that's because online I see numbers and nothing else. Our brain perceives it like it's nothing but number games, so we don't acknowledge those numbers as money but when it comes to cash that we carry in our hands, we become more judgemental. I think that our brain perceives cash as something the result of hard work but doesn't acknowledge digital numbers because the way they get filled is simple.I feel it's like cash and paying online kinda thing, if you don't know what that is, it's quoted below:
Quote
The cashless effect describes our tendency to be more willing to pay when there is no physical money involved in a transaction. It means that we are more likely to purchase something on a credit card than if we have to pay for it with cash.
Source: Cashless Effect
Btw I had to pay 1000$ cash for my MacBook and I was almost sweating during the payment process, I was thinking twice whether it was for the betterment of my UI/UX career or if I was dumb for doing this.
I definitely know what the OP is alluding to. In the past I have maybe spent more using crypto than I would on certain purchases with fiat. When you see 0.01BTC vs $570 it does feel like you’re spending less. It’s kind of a detached from reality feeling. We must try to stop doing this though as Bitcoin increases in value over time. It can be even worse if you look at how much Bitcoin you spent for example 6 years ago.
I'm still suffering from this digital effect when it comes to spending in general. Mine is not only specific to crypto but online payment in general. I have no problem spending huge amount online through mobile transfer but I will have problem spending same amount with cash. I do feel spending extravagant whenever I'm dealing with cash but will spend much more than that with any form of digital payment without feeling disturbed. Probably, this happens simply because there's no tangible value but a mere digit in wallet/account and fiat give a grasp of actual value. Going through my transaction history sometimes, it is not possible for me to have spent such amount if I should be holding cash.
I definitely know what the OP is alluding to. In the past I have maybe spent more using crypto than I would on certain purchases with fiat. When you see 0.01BTC vs $570 it does feel like you’re spending less. It’s kind of a detached from reality feeling. We must try to stop doing this though as Bitcoin increases in value over time. It can be even worse if you look at how much Bitcoin you spent for example 6 years ago.
I'm still suffering from this digital effect when it comes to spending in general. Mine is not only specific to crypto but online payment in general. I have no problem spending huge amount online through mobile transfer but I will have problem spending same amount with cash. I do feel spending extravagant whenever I'm dealing with cash but will spend much more than that with any form of digital payment without feeling disturbed. Probably, this happens simply because there's no tangible value but a mere digit in wallet/account and fiat give a grasp of actual value. Going through my transaction history sometimes, it is not possible for me to have spent such amount if I should be holding cash.
i can relate to me because i have two mindsets, crypto and real life is different, actually i earned money in crypto then i have to no hesitate even sometime i pay 100$ for a service but when i am going to spend such amount of money in my local currency that is too expensive and i think twice to spend it, there is different in crypto vs real life,.
That's a pretty specific difference to say because in real life not everything has to be paid for, so is when we have to pay something for a service in crypto. And in general the difference here is in the level of potential profit and benefits that we can get from both because when you pay that much in crypto, of course there are new things that you expect from there and can give you more than the amount you have spent. While in real life, everyone will see the benefits first before seeing the level of potential profit that they can achieve because those two things are important points that are very often searched by everyone in any expenditure. 
That is because crypto is not our main currency that we use daily. We thinks that we can search for another amount in crypto. But if we want to earn fiat, we must work hard and that can make us think that fiat still worth it for us.
That make us feels easily to spends our crypto to buy something. But with the situation now, I think spending crypto/Bitcoin will not be easy like before. Bitcoin price is increase and that can increase more than the price now. If you think that Bitcoin is worth, you will considers to use your Bitcoin to buy something especially if you can buy that thing with fiat.
Maybe we will use our credit/debit card to buy something and hold our cash for other things.
That make us feels easily to spends our crypto to buy something. But with the situation now, I think spending crypto/Bitcoin will not be easy like before. Bitcoin price is increase and that can increase more than the price now. If you think that Bitcoin is worth, you will considers to use your Bitcoin to buy something especially if you can buy that thing with fiat.
Maybe we will use our credit/debit card to buy something and hold our cash for other things.
I definitely know what the OP is alluding to. In the past I have maybe spent more using crypto than I would on certain purchases with fiat. When you see 0.01BTC vs $570 it does feel like you’re spending less. It’s kind of a detached from reality feeling. We must try to stop doing this though as Bitcoin increases in value over time. It can be even worse if you look at how much Bitcoin you spent for example 6 years ago.
I also spend an insignificant amount of altcoins for gambling, but maybe you could consider gambling to be more like "investing" rather than spending. 
I don't get it, explain?
To say, I find myself being more generous in crypto, can spend dollars here and there like it's nothing whereas in irl I'd think twice before purchasing a higher priced items at a grocery store.
I feel it's like cash and paying online kinda thing, if you don't know what that is, it's quoted below:
Source: Cashless Effect
I feel it's like cash and paying online kinda thing, if you don't know what that is, it's quoted below:
Quote
The cashless effect describes our tendency to be more willing to pay when there is no physical money involved in a transaction. It means that we are more likely to purchase something on a credit card than if we have to pay for it with cash.
Source: Cashless Effect
I don't have "two minds", I just hate spending money. It doesn't matter if it's crypto or fiat. I hate spending cash and don't shop online. I've probably spent less than 200 USD worth of BTC in the last 5 years, and I regret spending that BTC. I used to sell BTC for fiat and spend the fiat for necessary stuff like food and bills. Now I'm just HODLing my BTC and waiting for the bull run. My fiat income is slowly growing right now. I also spend an insignificant amount of altcoins for gambling, but maybe you could consider gambling to be more like "investing" rather than spending.
In times of cashless transactions, I barely go out with a physical cash that can amount up to $20 if converted to my local currency. It's more convenient for me to pay for goods with wired transfer than pay cash; it helps for proper reference purposes.
It's funny tho like I use to have this same mindset and it gives me more concern to think that my local currency is taking much from me but I did s little balance check and discovered there's nothing different from the both it's just that it depends on the comfortability of the currency you really want to purchase that goods with.
I think we need to adapt the new system of cryptocurrency and it'll save us a huge stress and funds loosing and the cashless effect has really done alot good thi making it suitable for users to transact safe and for me I prefer paying for stuffs online that using physical local currency cause it makes me to want to be discipline in my spendings but sometimes converting to my local currency I'll end up spending all of it and we'll be wondering to my self how and it makes me get to the conclusion that fist currency don't really have much value at hand anymore.
Yes, it makes sense, because it's still part of our human instictive nature to need the material or physical to understand and assimilate something is indeed real.
When the currency is virtual, we have some difficult to understand how real that is. As consequence, we end spending more than we should, and usually in things we don't need at all.
That’s what happens when you tend to live in the past, live in an era that has left you behind and you haven’t left it alone. It eventually stays with you and could be a set back on all the developments that are going on about you. Why? You became reluctant to change or acknowledge the changes around you!When the currency is virtual, we have some difficult to understand how real that is. As consequence, we end spending more than we should, and usually in things we don't need at all.
People need to allow themselves to be awoken to these changes because, value is no longer in what could be seen or felt no more. Edison did brought us light and today, we use various forms of energy in our homes today. These things are desirable and yet, they aren’t seen.
So has cryptocurrency or should I say, Bitcoin. It’s happening…
To say, I find myself being more generous in crypto, can spend dollars here and there like it's nothing whereas in irl I'd think twice before purchasing a higher priced items at a grocery store.
I feel it's like cash and paying online kinda thing, if you don't know what that is, it's quoted below:
Source: Cashless Effect
I feel it's like cash and paying online kinda thing, if you don't know what that is, it's quoted below:
Quote
The cashless effect describes our tendency to be more willing to pay when there is no physical money involved in a transaction. It means that we are more likely to purchase something on a credit card than if we have to pay for it with cash.
Source: Cashless Effect
I think this feeling is mutual to a lot of people that have to chose between paying with cash and paying for a transaction online. Maybe since the physical money makes us to see the more value of our money through the quantity of it we’re holding than the one we have in our banks and digital assets. It is more likely that we have to continue cutting down costs of purchase during physical shopping than we do when we order for some grocery to be delivered at home for us. It is logical and I think this is how the minds are wired to be.
Having my money in cryptocurrency saves more cost than keeping it in fiat. The process of conversion sometimes makes me feel lazy and would like to hold on to those USDT before making out a plan on what’s the next investment to do with the money, when an opportunity comes by sometimes and you don’t have the money to buy at once, the stress of conversion could even make you miss out on the opportunity. Keeping some cash in digital assets is necessary, it could cost you to spend less and get to enter the market immediately an opportunity arrives.
To say, I find myself being more generous in crypto, can spend dollars here and there like it's nothing whereas in irl I'd think twice before purchasing a higher priced items at a grocery store.
I feel it's like cash and paying online kinda thing, if you don't know what that is, it's quoted below:
Source: Cashless Effect
You really make ait of sense and this is just all about reality. The reality of holding fait cash would make us thinking twice before we make any transactions. We are already used to that and holding it always makes very conscious (that for some persons) but when it comes to using credit cards or buy hoods online/physical with cryptocurrency, think it's more interesting for us to because it is quite fast and don't need to the permission from our banks just like going to bank or an ATM to make withdrawals. It is quite effortless for us to stay in the house, having fund in the ATM or cryptocurrency portfolio, buying things online without even thinking about the account balance. This is likely for those that are rich and have enough funds in their accounts. I feel it's like cash and paying online kinda thing, if you don't know what that is, it's quoted below:
Quote
The cashless effect describes our tendency to be more willing to pay when there is no physical money involved in a transaction. It means that we are more likely to purchase something on a credit card than if we have to pay for it with cash.
Source: Cashless Effect
I am on the exact contrary of the spectrum, I can spend fiat anyway I want without much thought, these days I can't because I am much poorer but thankfully it is ending and next month I should finally be back on my feet, but I spend fiat a lot easier compared to crypto which I do not want to spend at all, I do not want to sell it, I do not even want to invest into anything other than bitcoin but I know the value of diversification so I do.
This is why it's literally the opposite case for me, I rather keep on investing into bitcoin, makes me a lot more money. I feel like the best thing to do in this current state would be just focusing on which one you value more, bitcoin or fiat? The more you value something, the more you should keep it.
This is why it's literally the opposite case for me, I rather keep on investing into bitcoin, makes me a lot more money. I feel like the best thing to do in this current state would be just focusing on which one you value more, bitcoin or fiat? The more you value something, the more you should keep it.
i can relate to me because i have two mindsets, crypto and real life is different, actually i earned money in crypto then i have to no hesitate even sometime i pay 100$ for a service but when i am going to spend such amount of money in my local currency that is too expensive and i think twice to spend it, there is different in crypto vs real life,.
It looks like that many of us are sharing the same sentimen. When we have crypto, it seems that we're like reckless spenders and we don't mind how much it will be especially on the fees whenever the network is clogged and it is charging us a lot. But when we are about to spend some real bucks or cash, with a few cents we're even arguing if we're doing some shopping in the market. I don't know what or how do we call this feeling and we're feeling extravagant if the money we'll be spending is in the form of crypto. Or if we're about to spend fiat to crypto, we won't be bothered by the amount we'll pay.I don't have this mindset. And I don't have a credit card either.
To be honest, I am about to get a credit card because I am enticed by its community on how to maximize its usage. But at the end of the day, I still realized that it's still a credit, a money that's not mine and I'm obliged to pay that with my own money and with interest. 
I don't have this mindset. And I don't have a credit card either. For the countless of times that my bank called me or that somebody else recommended or promoted one, I'm proud to have declined each offer.
I have done same, I don't like credit cards, I only spend if my bank balance has means to purchase, keeps my head free, although I do have used 'pay later' services for convinience purposes from Amazon and other local ecom sites which are similar to credit cards.
I don't have this mindset. And I don't have a credit card either. For the countless of times that my bank called me or that somebody else recommended or promoted one, I'm proud to have declined each offer.
But I can attest to this tendency of spending more when transactions are cashless. I notice how relatives and friends quickly offer their cards as if they have unlimited funds.
I can't speak the same of crypto though. If at all, it seems people are stingy when it comes to crypto.
But I can attest to this tendency of spending more when transactions are cashless. I notice how relatives and friends quickly offer their cards as if they have unlimited funds.
I can't speak the same of crypto though. If at all, it seems people are stingy when it comes to crypto.
To say, I find myself being more generous in crypto, can spend dollars here and there like it's nothing whereas in irl I'd think twice before purchasing a higher priced items at a grocery store.
I feel it's like cash and paying online kinda thing, if you don't know what that is, it's quoted below:
Source: Cashless Effect
This is indeed true and i could spend or afford to lose thousands of dollars in trading but really that skeptical on buying up some which cost $100. Pretty sure that all of us are really that on the same page specially I feel it's like cash and paying online kinda thing, if you don't know what that is, it's quoted below:
Quote
The cashless effect describes our tendency to be more willing to pay when there is no physical money involved in a transaction. It means that we are more likely to purchase something on a credit card than if we have to pay for it with cash.
Source: Cashless Effect
traders who are really putting up that risks level into the highest on which they would really be that willing to lose up thousands just because of the opportunity on making profits in front of you.
This is what im thinking on the time i do tend to risks money with it, it is really that worth on losing on trying rather than on losing something which you do know that it wont really be giving out any benefit on you.
Risk taking will really be that differ into each person because there would really be those individuals who who are really that good when it comes to risks handling.
The important thing on here is that you do really know on what you are doing and you do really know on what you should gonna do. There would really be those individuals
who would really be that risking out money as if they are really that doing gambling, and this is something which isnt really that recommended. Sooner or later, you would really be sleeping into the streets
if you would be having this kind of approach towards spending.
i can relate to me because i have two mindsets, crypto and real life is different, actually i earned money in crypto then i have to no hesitate even sometime i pay 100$ for a service but when i am going to spend such amount of money in my local currency that is too expensive and i think twice to spend it, there is different in crypto vs real life,.
Me, I treat how I spend based on where I find myself; if I'm working and earning like those who are in the UK and I want to buy any goods from them, I won't mind paying any sum as long as I can afford it because I earn theirs and their level of living is high. But you don't expect me to still have the same mindset when I want to make any purchase in my country where our minimum wage is less than $50. The value they create here in my country, I will say, is what affects my level of spending in terms of making use of my local currency here. I will definitely see things as being overpriced and valued.
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