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.
Well, it's quite the opposite for me. I'm extremely "stingy" when it comes to spending my cryptocurrencies. I mostly have Bitcoin but also hold some USDC, BNB, and some altcoins, but I don't want to spend any of them, with a few exceptions of a few altcoins that were sold only to buy something else, such as BNB. On the outside world now, I use my cards on 90% of my transactions (both credit and debit), as I rarely carry much cash around, and it doesn't feel like spending when it's on the card.
Don't get me wrong, that doesn't mean I'm not acknowledging what I'm spending by the end of the month, nor do I purchase unnecessary stuff just because it doesn't feel like spending money with the card, but sometimes I am taken aback seeing how much my balance has lowered.
Don't get me wrong, that doesn't mean I'm not acknowledging what I'm spending by the end of the month, nor do I purchase unnecessary stuff just because it doesn't feel like spending money with the card, but sometimes I am taken aback seeing how much my balance has lowered.
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.
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:
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.
Well the comparison from the article seems to be about credit cards and cash, there is some correlation with crypto but the vast majority of people aren't making that association. Frankly I think of crypto as more of a commodity, similar to a precious metal like gold or silver, where you might want to hold on to coins for long term investment but would rarely use it day to day. The other use case I've seen usually involves the need to send larger sums of money, like remittances back home from people in Europe to places like Asia or Africa. The fees can be relatively low in comparison to banks in those countries and sometimes the banks can be harder to access, so having an online wallet can be rather useful in comparison.
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.
On the other hand, you might be more generous when dealing with cryptocurrencies because their price is heavily volatile, so even if you spend today, tomorrow your bankroll may increase 20% in price, or even more, especially during a bullish season.
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.
On the other hand, you might be more generous when dealing with cryptocurrencies because their price is heavily volatile, so even if you spend today, tomorrow your bankroll may increase 20% in price, or even more, especially during a bullish season.
I feel it's like cash and paying online kinda thing, if you don't know what that is, it's quoted below:
Crypto and all digital currency are easy to be spent because what you're seeing is just digits and with a single punch of some numbers on your device sends it to whoever you wish to send it to without having a serious impact on you unlike the physical cash.
This habit will emerge naturally, when you have a credit card or assets in the form of Crypto, it will be very easy to get involved in transactions due to the difficulty of restraining yourself from buying something or using it to pay for other things. Almost everyone experiences the same thing as you and the desire to buy something they need is very difficult to contain as long as they can make the transaction directly. In general, the amount spent when making transactions using digital currency is the same as when using fiat money, but because the payment process is done digitally, no matter how much is spent, it doesn't feel like it's due to using non-physical money.
~snip
I think, for me it's easier to call or mention the price of something in $ dollar compared to when I mentioned it in my local currency. The truth is that currently our fiat has lesser value compared to the dollar so most people from my country just prefer to save in the dollar and even spend using the dollar. Again, the cashless system I think around 2022, was seen to had been widely adopted in my country after the central bank had made a tremendous move to change the currency note and with no plan or reserve. They ordered all old paper notes out of the country in a limited time but also failed to supply the new currency notes to us. This whole thing made most people more adopted to the online cash system in my country. And since then it's easier to spend by transferring online than paying in 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,.
~
As you've said, that's not really crypto-specific, just physical vs online imo lol. Definitely felt it before though. There's definitely a difference between the impact of seeing your money in paper physically compared to just seeing it in numbers. It's probably also why some people can spend money willy-nilly just like that, it's because it doesn't feel "real" that it's their money, or that it's money at all! It feels just like numbers your throwing out lol. Definitely a culture thing though but not a country-specific one, just the way people have grown into. I reckon the same happened when people moved from bartering to using money. Things might change if the culture of spending changes to digital permanently but that's far off into the future.
This usually happens to me, especially when gambling online I stake in usdt or btc with this I don't do the normal converting the equivalent to our NGN because when I does it is like way too huge for me to spend out, but when spending with the space I takes it more likely compared out of the space. Our currency has no value when converting usdt/NGN it more scary while spending NGN over here.
I always have that kind of feeling all the time, actually is so funny that whenever your money is on usdt we hardly regard how much it will worth if being converted into our local currency and even in gambling using $14 to $20 is being consider as amount that doesn't worth much for us and even if we lose it we would hardly get emotional but the moment we decided to withdraw that amount of usdt into Fiat in other to use it for physical gambling that's when we would be having a double mind if is worth risking that kind of money in gambling and by that time you would be imagining the kind of stuff you could possibly use some of those money to purchase, I don't no the mystery behind it because the moment the money is on usdt is as if you are clouded to realize the value of that money if being converted. 
I think that everyone has a different attitude towards money and cryptocurrency reserves. And this would be a great way for stores and marketplaces, because then I think all the crypto guys spend a lot.
I also noticed that I treat paper money and money on a card much more sparingly. This is probably due to the fact that we do not feel that this is real money, but just numbers on the screen.
I also have the same experience with using fiat and crypto. It is always to spend more using crypto because, in most cases, you might not pay much attention to the worth of the coin and even the transaction fees. Sometimes, crypto is gotten through airdrops, making it very easy to spend since it was acquired for free. This also happens when I am using an online payment system. In some cases, I wouldn't check my balance before deciding to buy. But I am always calculative while using fiat. Before deciding to buy anything, you will have to check how much you have in your pocket before spending. I also noticed that I treat paper money and money on a card much more sparingly. This is probably due to the fact that we do not feel that this is real money, but just numbers on the screen.
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 that everyone has a different attitude towards money and cryptocurrency reserves. And this would be a great way for stores and marketplaces, because then I think all the crypto guys spend a lot.
I also noticed that I treat paper money and money on a card much more sparingly. This is probably due to the fact that we do not feel that this is real money, but just numbers on the screen.
To be honest I just barely know there is a thing called the cashless effect here in Indonesia, especially in a big cities lot of merchants have started to adapt payment using QR codes so it basically you can use any bank or any e wallet and scan it and pay and to be honest scan payment is easier that is why most of the people didn't really care about the amount
In the crypto I usually pay lot of gas fee for airdrop, nft minting and etc and I just feel throw 1-25$ is just easy in reality that amount is a lot
In the crypto I usually pay lot of gas fee for airdrop, nft minting and etc and I just feel throw 1-25$ is just easy in reality that amount is a lot
It's possible that everybody does feel the same. But if it's about spending money in crypto than any other real-world things, I'm sure that many of us would like to buy crypto or Bitcoin than any of those wants.
But what I have come to realize is that, life is too short. If you have some things that you want to purchase and it's not going to affect that much of your portfolio, choose to be happy.
As long as it's not going to be the reason of you being poor or going back to the former bad life you have, just follow what makes you happy. And if buying more Bitcoin makes you happier, much better!
But what I have come to realize is that, life is too short. If you have some things that you want to purchase and it's not going to affect that much of your portfolio, choose to be happy.
As long as it's not going to be the reason of you being poor or going back to the former bad life you have, just follow what makes you happy. And if buying more Bitcoin makes you happier, much better!
I think that most people have a very different attitude towards whether they pay for something with cash compared to a digital payment method. There is no great philosophy here, it's just that most people feel a physical connection with another physical "thing", while digital assets do not have such an impact on someone's mind.
Retail companies know this very well and are increasingly encouraging people to use digital payment methods, because they obviously spend more money than when they pay in cash - and on the other hand, people feel more comfortable when they only bring a card or a smartphone linked with their bank card.
It goes even one step further, and these are stores where you don't need any means of payment at all except to connect your bank account to your face - everything is charged automatically with the help of countless cameras that follow your every move and finally scan your face.
There is one way that you can still pay less even if you pay digitally - and that is to have a special plastic or virtual card to which you will always transfer a certain amount of money when you go shopping, which means that you will match that amount with the list of what you plan to buy. It may not be ideal, but you still set some kind of spending limit.
Retail companies know this very well and are increasingly encouraging people to use digital payment methods, because they obviously spend more money than when they pay in cash - and on the other hand, people feel more comfortable when they only bring a card or a smartphone linked with their bank card.
It goes even one step further, and these are stores where you don't need any means of payment at all except to connect your bank account to your face - everything is charged automatically with the help of countless cameras that follow your every move and finally scan your face.
There is one way that you can still pay less even if you pay digitally - and that is to have a special plastic or virtual card to which you will always transfer a certain amount of money when you go shopping, which means that you will match that amount with the list of what you plan to buy. It may not be ideal, but you still set some kind of spending limit.
Making transactions online with an estimated dollar value of around $ 10 dollars and above and limited to $ 80 is not too heavy and however if converted into my local currency it looks like this is a large amount, the expenses intended for survival are indeed a bit burdensome when the amount spent is in local currency. and honestly I have the same assumption as you in spending most of our dollars in crypto we feel more generous here.
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Well, I think what happens is the power of physical cash, when you have the cash at hand, you feel it's much that you can not and should not just spend it all at once in an item but when it comes to transacting with the digital currency, you feel it's just a small amount. I do feel like that most of the time and for sometimes, there are some online payment I would want to make and the transaction charge will be high but I wouldn't care about it but if same charge was applied on the cash, I would think twice or might even decline to pay.
People find paying online to be easy and convenient and this can make them pay more often online. In my country, the government put limit in cash which is another discouragement. I believe I pay online more than cash because I can easily pay for somethings online. If it is cash, I may postpone it and sometimes even forget about it or not just purchase what I want to purchase. Cash payment is frustrating.
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Companies have known this for a long time and have conducted studies on it back in the day. At first, many were reluctant to accept credit cards until the study helped them understand the concept of friction.
There is a gradation:
Pay with cash.
With a debit card.
Credit card.
With a mobile phone.
Clicking online.
The easier it is to pay and the less you feel like you're losing something (like when you hand over a $100 note and get a couple of coins back) the more you'll spend. That's why companies make it easy to pay, like Amazon, where in two clicks you make the purchase and finance it if you want.
With cryptocurrencies it is similar, but if we are aware that Bitcoin in particular is the most valuable thing we can have, we should be able to avoid this tendency.
There is a gradation:
Pay with cash.
With a debit card.
Credit card.
With a mobile phone.
Clicking online.
The easier it is to pay and the less you feel like you're losing something (like when you hand over a $100 note and get a couple of coins back) the more you'll spend. That's why companies make it easy to pay, like Amazon, where in two clicks you make the purchase and finance it if you want.
With cryptocurrencies it is similar, but if we are aware that Bitcoin in particular is the most valuable thing we can have, we should be able to avoid this tendency.
Nope, I have a same mindset regardless I pay using cash, cashless or crypto.
If there are three ways to pay my bills, I will try to check all the payment method and I will use the cheapest way. Usually cashless is more cheaper than using cash because I can use discount voucher.
I have two mindsets when I go date with someone , when I'm alone I will spend my money carefully by calculating the worth and benefit, when I go with my partner, I don't mind to pay something higher than usual.
If there are three ways to pay my bills, I will try to check all the payment method and I will use the cheapest way. Usually cashless is more cheaper than using cash because I can use discount voucher.
I have two mindsets when I go date with someone , when I'm alone I will spend my money carefully by calculating the worth and benefit, when I go with my partner, I don't mind to pay something higher than usual.
I can relate to OP, I am more easily to spend 'digital' money, not just on crypto, any money that is digital. I think it's because we don't hold it physically, while before this time we always have physical money, and digital money easier to be spent, we can spend it while laying around on the sofa in our house. But maybe the newer generation that has known digital money since they understand how to spend it will have different perspective.
apparently I do have this mindset , spending physical money feels like i'm wasting money and spending through online e-commerce I feel like it's not a big deal at all.
I guess it's because spending money online distract our focus from actually keeping ourselves from over spending, with the many discounts offered and at some cases the price of goods in online store is significantly cheaper really attracting me to spend money.
I think when we are in real life, not having that much cash usually and keeping all the money in our bank account, also contribute to grow that sense of scarcity that we might run out of money if we spend the physical cash that we have, it's psychology at play affecting the way we are thinking here.
, spending physical money feels like i'm wasting money and spending through online e-commerce I feel like it's not a big deal at all.I guess it's because spending money online distract our focus from actually keeping ourselves from over spending, with the many discounts offered and at some cases the price of goods in online store is significantly cheaper really attracting me to spend money.
I think when we are in real life, not having that much cash usually and keeping all the money in our bank account, also contribute to grow that sense of scarcity that we might run out of money if we spend the physical cash that we have, it's psychology at play affecting the way we are thinking here.
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.
Well, it's not only you but most of us who are part of crypto community. I used to have same mindset of spending dollars here and there to see what works and what doesn't but now I'm more careful in spending my crypto generated income. I spend it wisely and that's why I've been getting some good benefits and also my assets have been increasing overtime.We all have to spend money on good things whether in crypto world or in groceries but surely we should be more cautious about our spending as overspending on things that aren't important is nothing but stupidity. I used to spend money on degen meme coins, crypto presale projects in hope to get better returns but in those areas I only lost money and made nothing at all. And, that's the reason I believe that spending our crypto income properly will help us in long term.
When Im reading it that sounds like a whole load of experience within the crypto world. Cost management and informed decision-making are so crucial, especially in the area of cryptocurrency, which can be very volatile. It's nice to hear that you're seeing some positive results from the more disciplined approach you've had. It could be really tempting to invest in these generally very hazardous assets, such as meme coins and pre-market software, but, as you have seen, when you generally have the most risk, that is typically the possibility of loss and that's right, focus on strategies that will give you the ability to create long-term stability with positive growth and manage your profits wisely to provide a more secure future for yourself financially.
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.
Well, it's not only you but most of us who are part of crypto community. I used to have same mindset of spending dollars here and there to see what works and what doesn't but now I'm more careful in spending my crypto generated income. I spend it wisely and that's why I've been getting some good benefits and also my assets have been increasing overtime.We all have to spend money on good things whether in crypto world or in groceries but surely we should be more cautious about our spending as overspending on things that aren't important is nothing but stupidity. I used to spend money on degen meme coins, crypto presale projects in hope to get better returns but in those areas I only lost money and made nothing at all. And, that's the reason I believe that spending our crypto income properly will help us in long term.
I can easily pay for a service or goods online worth $10-$50 without thinking much about it since the payment is being made in USDT or any other crypto. I don't see it as much of a big deal, but each time I convert that same amount to my local currency, it appears big in my account, which will make me start asking if what I'm paying that amount for is really worth it or not.
You have an idea of how 10 to $15 look on physical fiat currency this is why it is somehow difficult for you to use that amount gambling but if it's a digital figure where you are unable to see the quantity in a physical form, it can be easier for you to decide to gamble. This is one of the reasons why I think that people can easily get more addicted to gambling online and loosing composure on the amount they use in gambling than gambling in physical outlets. 
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 usually happens to me, especially when gambling online I stake in usdt or btc with this I don't do the normal converting the equivalent to our NGN because when I does it is like way too huge for me to spend out, but when spending with the space I takes it more likely compared out of the space. Our currency has no value when converting usdt/NGN it more scary while spending NGN over here. 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 can easily pay for a service or goods online worth $10-$50 without thinking much about it since the payment is being made in USDT or any other crypto. I don't see it as much of a big deal, but each time I convert that same amount to my local currency, it appears big in my account, which will make me start asking if what I'm paying that amount for is really worth it or not.
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.
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.
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
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