What would you consider living on crypto? - page 5.

Joshapat

sr. member

Activity: 1526

Merit: 255

Quote from: Kittygalore on September 02, 2021, 05:58:02 AM

For me, it's simple,. You can consider living in crypto if you don't have any fiat in your possession and you always buy your daily needs like hygiene products, food, medicine and water with crypto. I think that's the only way so no exceptions besjdes using fiat to buy more crypto.

As far as I know there is no place that can accept 100% crypto to meet the needs of life, this is because the influence of fiat currency is very strong because it is fully protected by the state, maybe we need a longer time for example 20 years to be able to realize all things we can pay with crypto and of course this is a lot of fun.

cotton ball

sr. member

Activity: 1288

Merit: 253

consideration of living in bitcoin, if in my country to live in the crypto world is very difficult, because in my country bitcoin is still illegal, and I can't buy anything using crypto, different from your country, because your country has legalized bitcoin, and already accept bitcoin in any purchase, like in el salvador country..

ropyu1978

hero member

Activity: 1904

Merit: 510

what do you consider living in crypto, maybe my considerations are simple, I will live in the crypto world, but not completely, because I am sure I will look for other income, and I will save some of my money into fiat currency, for purposes me everyday, because I don't live in the country of el salvador, which has legalized bitcoin, and has accepted any purchases using bitcoin..

Arvin01

member

Activity: 60

Merit: 13

Outside of my normal work, my part-time boss paid me in Bitcoin.
I think it's okay to earn Bitcoin from sideline business outside of normal work.
I just invest in Bitcoin, and I haven't used Bitcoin for daily payments.
The value of Bitcoin will increase and I don't want to lose.

Smartvirus

legendary

Activity: 1400

Merit: 1108

We had a similar discussion on this in our Nigerian Local Board under the other languages Board just a while back. It was some worth about living on crypto in contrast to the necessity of these banks. I think the bone of contention came up with the displaced persons from Afghanistan following the crisis who have got to live the nation and there wealth behind both in banks and property to avoid the Talibans rule

In that aspect, crypto seemed a lot preferable as it's got no definite place or locality to it but still, not all merchants are suffisticated enough to be hooked on crypto for payment. There are rural areas where the android phones that might be common to you are lacking. Not to talk about cryptocurrency that is even suffisticated to the most learned person.

There is no way we are going to live without fiat currency so, should you be receiving payments or prefer savings in cryptos, its a good thing but, fiat and banks is till very necessary and useful.

riso2015

sr. member

Activity: 1246

Merit: 254

Trphy.io

I live in crypto because there are still many things that I have not fulfilled. In crypto, at least I'm gradually getting my dreams one by one. Maybe I'll stop when the results of my life in crypto can meet my life needs until I retire later. So I work hard for this until I can rely on my achievements in crypto.

Kittygalore

member

Activity: 882

Merit: 63

For me, it's simple,. You can consider living in crypto if you don't have any fiat in your possession and you always buy your daily needs like hygiene products, food, medicine and water with crypto. I think that's the only way so no exceptions besjdes using fiat to buy more crypto.

Digitalbitcoin

hero member

Activity: 1540

Merit: 502

As human being, we need basically three things to live on a planet with own terms, and that are food, shelter, and cloths. All other things are manmade for enhancing a better life experience.

Basic needs can be fulfilled by purchasing them, for this it requires purchasing power. To have more purchase power, a person has to have more assets, which can be used to exchange to purchase necessary things.

And here crypto comes to make a difference in an ordinary person's life. As its electronic currency, anyone having talent can earn crypto using their own skills to increase their earnings in crypto to live a better life.

iTradeChips

hero member

Activity: 1792

Merit: 536

Leading Crypto Sports Betting & Casino Platform

If you are going to ask me, then as of the moment I might not want to see Bitcoin be used as a currency. The high volatility of the coin and the problems merchants would have in pricing goods and services in Bitcoin would be deemed problematic. Your salary in the same amount of satoshi might fall in case the price also fell for Bitcoin, and that would affect your purchasing power once you convert your cryptos to cash through 3rd party conversion services.

dimonstration

hero member

Activity: 2562

Merit: 659

Dimon6969

Quote from: Ararbermas on September 01, 2021, 09:38:33 AM

Well for me your living in crypto even you convert to real fiats wherein even through debit card or bank as long as it came from any crypto currency, still the same. Because you now you have no choice especially if your country is not yet accepting crypto currency as a digital payment, so you need to convert it in order to spend it. Cheesy

Having crypto as a mean of having income or earning source is the trend nowadays. Yes no we need to convert it but soon there will be ways that it can be use efficiently anywhere and with ease. It’s nice that we are able to know it before the big adoption happens since we jave time to invest and not fully convert it to fiat. We see how crypto arise and for sure it will be developed more that will expand its uses and accessibility.

Nunoluck

full member

Activity: 452

Merit: 101

I think most of bitcoin users behaviour is more like trader. I would like to recieve salary in cryptocurrency as long as I still have fiat to fulfill my daily necessities. I still need to use fiat because in my country the citizens are only allowed to use national currency for every transactions but holding bitcoin is not prohibited. I will trade my salary in exchange site but the problem is when there is bullish market I will get less BTC if my payment rate is still based on fiat price. I think there is positive and negative side in it. If mamy people receive their payment in form of bitcoin then I think it will bring good sentiments to the market.

ChiBitCTy

legendary

Activity: 2226

Merit: 2988

First off I have to think that your spelling of Coinbase as "Conbase" was not on accident, and I have to give you props for pointing out that fact ( I am well aware of what those scumbags are all about). That being said, I'm not sure if transferring bitcoin to an ATM/Debit card deal would really be considered "living on bitcoin". I guess it all depends if you solely got paid with bitcoin. I'm not sure at the moment if I could do it however.

Ararbermas

sr. member

Activity: 1988

Merit: 283

Well for me your living in crypto even you convert to real fiats wherein even through debit card or bank as long as it came from any crypto currency, still the same. Because you now you have no choice especially if your country is not yet accepting crypto currency as a digital payment, so you need to convert it in order to spend it. Cheesy

zanezane

full member

Activity: 868

Merit: 150

★Bitvest.io★ Play Plinko or Invest!

Quote from: ?? on ??

Now I prefer to trade crypto and make a profit. But it is difficult to predict what will happen next.

That's normal that it's difficult, if that's not the case then trading won't exist because IPO and public companies won't exist because the investors know when and where the market's going to go.

federalmoney_official

copper member

Activity: 168

Merit: 0

Hello

jaberwock

legendary

Activity: 2520

Merit: 1073

Quote from: glendall on August 26, 2021, 10:55:11 AM

the most severe consideration if I live in crypto, price volatility is extreme, here I am not able to think calmly especially if the price declines, and for now it seems that it is still difficult to full live with crypto where we still buy daily necessities days with fiat even if BTC can do it still using third party apps that convert BTC into fiat. too complicated for me so I will think how many times if I have to live in crypto

To solve the volatility, there are stable coins that can help a lot in stabilizing the market. If you want to pay someone in crypto, you can do that via stable coins and the buyer can either keep that in stable coins, or if they want to take the risk, they can convert it back to Bitcoins. This volatile nature of crypto has been neutralized to a good extent with these stable coins.

We are trying to discuss the obstacles in the path of living in a crypto-dominated economy and I am not sure on at what time frame it will happen as it is needing lots of depending factors to have feasible environment.

marine4u

full member

Activity: 673

Merit: 105

In my opinion, bitcoin makes our lives more vibrant, exciting and uses bitcoins daily according to the regulated mechanisms based on the place of residence of each person but not bitcoin is an exception to safe use secured in other forms of exchange use at the consumer level due to insufficient mechanisms or infrastructure, even debit/gift card conversions…etc

_Miracle

hero member

Activity: 902

Merit: 655

Do due diligence

For a brief moment in time I thought I would mine (or work for a company that paid directly in bitcoin) and pay for things p2p. <-----full bitcoin living

Still considering a QR code tattoo.

I had a Shift card for a year or 2, purchased things directly when I could and cheated with GYFT cards for awhile.

Interesting older article
https://www.forbes.com/sites/kashmirhill/2013/05/01/living-on-bitcoin-for-a-week-the-journey-begins/?sh=41a4cbb43520

exhort

newbie

Activity: 16

Merit: 1

In theory, sure! In reality, Not so easy! Rates change. USD is getting rekt by inflation (money printing and all).

Bitcoin Seller

full member

Activity: 567

Merit: 148

Quote from: avikz on August 25, 2021, 07:50:58 AM

Quote from: DaveF on August 25, 2021, 07:38:16 AM

Was having a discussion with someone getting who is getting into BTC the other day about the 'living on crypto' movement.
Mostly about the people who want to get paid in BTC / crypto and only spend BTC / crypto staying away from banks.

Personally I wouldn't want to live on crypto because of a very simple reason, the extreme price volatility. So today if the bitcoin price is very high and it is my salary date, I will be receiving less unit of bitcoins. And tomorrow, if the bitcoin price drops by 15%, I will be spending more units of bitcoin to buy my regular supplies.

To be honest, bitcoin has not reached that point where it can be considered as a regular currency. Things might be different for El-Salvador people, but for the rest of the world, it is still an investment with extremely hugh growth potential.

Quote

Was an interesting discussion as to where we stood. And was just wondering how everyone else thinks.
Gift cards? Debit cards? Get paid in BTC and convert to USD (or whatever) and put into your bank?

For the use as a currency, it's always better to have the reference of USD so that we can ensure that we aren't spending more than the retail price of a product.

1 bitcoin = 1 bitcoin formula doesn't apply here! The price swing still doesn't make bitcoin a spendable currency. If bitcoin price stabilizes, then possibly more people will be interested in using bitcoin as a currency system. But as of now, I personally would want to save every bit of my bitcoins rather than spending it.

That’s right, now it is impossible to use only crypto everywhere. First of all, it is not accepted mostly. Secondly, it is still very volatile. But what if it will replace fiat money completely? We wouldn’t know its equivalent in dollars, we would just see the prices of goods and make our conclusions, but marchants would set prices based on the level when people agree to buy, so Bitcoin wouldn't be so volatile anymore.

Topic: What would you consider living on crypto? - page 5. (Read 1279 times)