Topic: What would you consider living on crypto? - page 6. (Read 1337 times)

There was this family couple years back that tries to live in full crypto in which they travel in many countries trying to use Only crypto as their fund and not Fiat in totality.

i believe that this is how the real crypto living , but what you mentioned is something like different because from crypto the funds will be converted into credit lines in which the funds become Fiat in general(though electronic operated also like crypto)

so for me this is not crypto living, because if i am to decide , crypto living is when you live in place where crypto is available and can be used everytime you need and it is always available .

I am also like you, using crypto only as an investment. I can't use crypto as a means of payment, because in my country the government forbids
using crypto as payment. Therefore I still need fiat to live, even though my country's government legalized crypto as payment, it is impossible to
let crypto replace fiat. This means that it is a impossible for us now to live only by relying on crypto, the most ideal is that crypto is used as
an alternative payment.

This is what I suggest for most people. If you are paid in BTC/Cryptocurrency, Store your payment or money as cryptocurrency. And then when you need fiat, you withdraw an equivalent of what you need at that moment. This way, you aren't really storing your money in the bank cause you're seeking withdraw only when you need fait.

As the popularity of Bitcoin continues to spread among the people, our daily life without Bitcoin is becoming more and more.Before Bitcoin was not an analog type of human life but in today's world Bitcoin is like a new fashion in a new chapter. Many businesses are making Bitcoin the mainstay of their business.

It would be a good idea to keep all your savings in Bitcoin.  If you have some bitcoin, unless you earn at least some of the monthly expenses, there will be months where you will struggle to survive.  Especially when it comes to quick dumps and you have to spend a little more money.  Do you earn a few dollars a month?  If Bitcoin goes down, the $ 1 coffee you bought earlier will go down to $ 2 and the one you bought in dollars will go down.  Living such a difficult life, without bitcoin and no one can guarantee that you will recover from your losses at the end of the year. It is wise to invest seriously.

Seems like a meh, because living in crypto would be like having your own money without involving any authorities, and not even those who taxes one's income. We're still stuck to the paper money we have right now to be able to buy the usual stuffs we need daily.
I use custodial wallets here in my country which is Coin PH whenever I wanted to use their services such as buying Steam credits and all those digital goods that are available. I wouldn't call it living in crypto though.

As i discover cryptocurrencies, i use it to invest, not yet as my payment method, theres too much think to be considered to make crypto as our payment method, so many citizen of the world doesnt know technology as well, and thats will be the problem if crypto be our payment method replace fiat.

Of course it's very nice if we can shop online and pay with bitcoin, the biggest obstacle right now is the very large transaction fee, I once tried to buy a t-shirt and when I wanted to pay with bitcoin unfortunately the transaction fee was greater than 1 pcs t-shirt and made me cancel transaction.

Am nit a user of Both Bitpay and conbase as debitcard si i literally cannot answer that , but as long as you are using the funds to purchase and live with it? i guess that can be consider as Crypto living.
so meaning this is a clear living in crypto for you mate and I'm glad that in your country offers like this usage of crypto are functioning while in mine it is not.

I think it's part of coexistence with Bitcoin/crypto, although not fully using Bitcoin as a means of supporting the economy in life. Bitcoin was not created to make it difficult for people to make financial transactions, so, if Bitcoin can provide convenience both in conducting transactions or to benefit from these transactions, I think it has become part of living with Bitcoin/crypto.
Seeing the current reality that financial regulations in many countries have not made it possible for us to live fully using Bitcoin. Seeing the current reality that financial regulations in many countries have not made it possible for us to live fully using Bitcoin. So we have to be smart to manage and take advantage of the Bitcoin/crypto that we have, making peace with the situation in making Bitcoin/crypto transactions is one way for us to give Bitcoin a chance to enter into our real lives.

I have started living on crypto I personally using bitrefill from a long time just for topup my mobile phone and for buying the gift card for different shopping website I can say in future there will be more business which will support bitcoin as a payment option.

I am already the subject of your discussion. I ordered a debit cryptocard from the OWNR cryptowallet because I get my salary in crypto. I can say that it is very convenient and does not cause me any problems.

The dream of living on crypto is still far-fetched because governments control the policies in each country and the merchants cannot go against the government and accept crypto. At the end of the day, merchants need to cash their income and if the government has banned the use and dealing of crypto in their country, then no merchant would want to accept crypto.

The good news is that more countries are understanding the value of cryptocurrencies and some are even launching their own CBDC, which isn't something great because they are controlled by the government again like fiat. But at least this shows that there is interest in cryptocurrencies from government officials.

Of course I use fiat more now, this is because there are not many outlets or restaurants that accept crypto directly, this is because my country has not made crypto a legal payment system, I hope that users will increase so it will be easier to transact with crypto.

Very interesting discussion indeed.

Bitrefill, a site that sells most types of gift cards through Bitcoins advertises itself as "live on crypto", I remember that from some ads in past.

The are some problems when I think of living on crypto:

- The legality status
- The confirmation timing ( you can't spend bitcoins at places like McDonals unless you are ok with waiting for an hour )
- The price instability

A lot of people say that Bitcoin's price will only increase and I agree with that but that doesn't mean everyone thinks the same and is an investor in Bitcoin by accepting it.

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

True, crypto needs patience and of course requires great financial strength, as we know that crypto is like a roller coaster, if we are full in crypto it will make it difficult for us to eat and sleep, make crypto as an additional income but never make it the main one.

Life in crypto is full of challenges and requires patience, if I can't wait it can make my immune system drop drastically, I prefer to live in a fiat life.
the crypto world for me is only a complement to my life where it is said that in crypto I can multiply money without taxes, admin fees like in national banks

I have been doing this for a year already. Getting paid in Bitcoin, converting it into our own currency and that is what I'm using to pay the bills here in our home.
Even though that is the case for me, I don't think that you can call it "living on crypto" because I believe that the phrase means "your world is only crypto". You are using crypto "only" and being paid with crypto "only".

Volatility is the main reason for me why I'm just converting my Bitcoins and pay the bills immediately. You might be keeping some Bitcoins just to have some funds to pay for the bills next week but shit happens. Bitcoin went down and now you are having a problem. Living on crypto means you are using crypto "only" and being paid with crypto "only". That is what I think but I know that there are some who thinks differently. Living on crypto might be possible if only there are more establishments accepting it. I believe though that more will accept it in the next years to decades and someday we will achieve the life around crypto.

I don't really agree with your first statement but I agree with the rest of what you have said. Putting all of your hard-earned money in Bitcoin is risky. You know how volatile bitcoin is. Diversification of funds is still of importance. I know that bitcoin has already proven itself numerous times but you should still put some of your funds in other platforms in case something happens, you can withdraw instantly. Aside from personal savings and investments, you should also prioritize having an emergency fund which you can easily cash out if ever worse things occur. Because if you put all your funds in bitcoin and something happens, you will be forced to withdraw whether it was in a bearish market. In that case, you'll lose your supposed profit.

Regarding living on crypto. It would be extremely risky as well. Imagine living in volatility and uncertainty. It would be so stressful most especially if you're not really that well off. I don't think living on crypto is a good idea. It would cost you more during its bearish market days. While it would be so nice to spend during the bullish market because you can spend more than what you originally invested, it isn't guaranteed that it's gonna be that kind of day every day. Fluctuations often happen and it won't be so healthy to live in that kind of environment unless you love to be challenged so much and can afford to lose much.