Do traders spend crypto when they can?

[Steamtyme]

This isn't a trading thread per say. I've just been doing a lot of thinking lately about the state of BTC or crypto in general, and have found myself drifting into negativity regarding certain groups. Damn generalizations creeping in and harshly judging people without digging deeper - today it's the trading side of crypto.

So diving in, I am in the Pro "spend what you can when you can camp" ( No different than anything I still feel one needs to have some portion of savings) I think if we aren't spending crypto to encourage businesses to adopt it where is the endgame. I also feel like a lot of the crypto rich have abandoned creating a market environment for one that really only benefits "gains". There are so many trading platforms out there when you compare against say online marketplaces; or even attempts at marketplaces. My only issue really comes down to how does trading benefit the overall BTC and crypto ecosystem if trading is the only activity users are performing with their coins.

I'm not saying it's entirely bad. Trading has helped bring a lot of people seeking profits into the space, but are they doing anything else? So I'd like to know what you do with your trading gains, does it just roll into a larger bag,  do you sell and cash out in Fiat, or are you trying to also spend coins when the opportunity presents itself. I'm open to all opinions, as I'm sure many people here see things differently. I've just had thoughts that this aspect of the overall economy has developed disproportionately to the marketplace portion, and feel it has a net negative effect.

[1713989253]

1713989253

[Assface16678]

It depends on the trader how do they manage their money most of the time the people want to include in the world of cryptocurrency because they want to earn more money, and by this, they are putting their extra cash to hope to earn more income. If a trader already got a lot of profit on their investment still, it is a choice if they will continue to make more money using trading or gambling whenever they want or already pulling out their money and convert into fiat to put into business as capital. Still, we should both earn more money at the same time we have a stable job because of the company we made with the use of crypto and also continue receiving in cryptocurrency using trading.

[alyssa85]

I definitely think people should take profits regularly. You want to convert your profits into a house, a car, a lifestyle, otherwise, what's the point?

And yes, do support those crypto businesses that accept crypto and spend some of it. Otherwise the whole eco-system will die and the value of your crypto will die with it. If crypto just becomes speculation, then eventually the party will end. You need the eco-system underneath to be robust so that it can all continue.

[Ahimoth]

I definitely think people should take profits regularly. You want to convert your profits into a house, a car, a lifestyle, otherwise, what's the point?

And yes, do support those crypto businesses that accept crypto and spend some of it. Otherwise the whole eco-system will die and the value of your crypto will die with it. If crypto just becomes speculation, then eventually the party will end. You need the eco-system underneath to be robust so that it can all continue.

When a trader wanted to enjoy their benefits from crypto, definitely they should spend crypto as they wanted to. Joining the eco-system, crypto value will not dies as long as it has been circulating on different types of spendings.
Each and every product that has linked with cryptocurrency, has its independent body, and as long as the demand increased the price eventually rises.

[dark08]

It depends on the trader how do they manage their money most of the time the people want to include in the world of cryptocurrency because they want to earn more money, and by this, they are putting their extra cash to hope to earn more income. If a trader already got a lot of profit on their investment still, it is a choice if they will continue to make more money using trading or gambling whenever they want or already pulling out their money and convert into fiat to put into business as capital. Still, we should both earn more money at the same time we have a stable job because of the company we made with the use of crypto and also continue receiving in cryptocurrency using trading.

I agree to you dude we all here because of money and maybe some people curious what is cryptocurrency not all people know the word cryprocurrency but the good thing that I noticed cryptocurrency are continue to know all over the word this is a good sign for bitcoin because it has a good features that everyone can use.
As a trader I spend  my profit on my needs and also to my expenses and I think most trader also have a same scenario but we have a different way on how to manage money.

[manualwaterfall]

it can be difficult to spend crypto here, so i almost always convert to local currency for spending. sometime online when i order from ecommerce store, i will pay with crypto, but usually not

[mersal]

More traders converting their profits into fiat for spending since the acceptance of cryptos are not yet available on all the corners but if there is a possibility to spend as cryptos then they will surely do to avoid fee while converting into fiat which sometimes take more than 1%.

Trading cryptos help people to knew about crypto currencies and earning opportunities but its really doing bad for the real adoption and also leads into price manipulation by whales.

[MURONDI]

every trader has a different character, but generally true traders will not spend their coins even though they can, good traders will definitely manage their finances, traders usually only spend a few percent of their profits, and the rest they invest again, unless the profit target has been met the merchants will usually take profits to enjoy.

[NeuroticFish]

It's something people seem not to realize fully: some of the people that earn crypto will also spend.
It's the same with the traders. Some will hold more or less of their earnings, some will spend as much as they can. Crypto is money, not only investment.

[BitcoinsGreat]

This isn't a trading thread per say. I've just been doing a lot of thinking lately about the state of BTC or crypto in general, and have found myself drifting into negativity regarding certain groups. Damn generalizations creeping in and harshly judging people without digging deeper - today it's the trading side of crypto.

So diving in, I am in the Pro "spend what you can when you can camp" ( No different than anything I still feel one needs to have some portion of savings) I think if we aren't spending crypto to encourage businesses to adopt it where is the endgame. I also feel like a lot of the crypto rich have abandoned creating a market environment for one that really only benefits "gains". There are so many trading platforms out there when you compare against say online marketplaces; or even attempts at marketplaces. My only issue really comes down to how does trading benefit the overall BTC and crypto ecosystem if trading is the only activity users are performing with their coins.

I'm not saying it's entirely bad. Trading has helped bring a lot of people seeking profits into the space, but are they doing anything else? So I'd like to know what you do with your trading gains, does it just roll into a larger bag,  do you sell and cash out in Fiat, or are you trying to also spend coins when the opportunity presents itself. I'm open to all opinions, as I'm sure many people here see things differently. I've just had thoughts that this aspect of the overall economy has developed disproportionately to the marketplace portion, and feel it has a net negative effect.

Traders should spend their profits and enjoy their profits or use the profits to solve their financial worries. For this purpose they must convert some of bitcoins into local currency. Some people keep on investing the profit again and again in new trades to increase their portfolio but i do not think this is right. Because if the trader few trades goes wrong, the profit earned before could turn into loss very quickly.

[mk4]

The thing is, there will always be people out there that are just here solely for the money, and there's really nothing we can do with that.

Look at it this way instead. Regardless if traders use their gains either to sell their coins for dollar profit or if they actually spend the actual bitcoin they use, I don't think it's going to matter as that's really none of our business. One of the benefits of bitcoin is financial freedom, so everyone is free to use their money however they can. One advantage though for sure, is that these traders improves the total market liquidity. Hence, making the markets a bit more "stabler", which can lead to better long-term price discovery, even if it's really obvious that the markets in general are currently still very very volatile.

[iamsange]

If profit in trading, maybe this is look like people will usually answer like this. But my friend keep told me to increase capital when profit but don't forget to withdraw some and make it as saving and spend it. So after profit, only my profit which i will split, for increase my capital and withdraw it to bank. So when i need something i still have money and not disturb my capital. And if my capital looks bad and i have chance to get profit, i use that savings.

[zeze18]

If profit in trading, maybe this is look like people will usually answer like this. But my friend keep told me to increase capital when profit but don't forget to withdraw some and make it as saving and spend it. So after profit, only my profit which i will split, for increase my capital and withdraw it to bank. So when i need something i still have money and not disturb my capital. And if my capital looks bad and i have chance to get profit, i use that savings.

Yeah i think when we have much profits we should withdraw it and save it for daily needs or an important sudden need. As long as the portion of the spending amount not more than the investment amount i think the investment and the financial status is still healthy, or people could move their profits from crypto to invest in more safe investment

[Raflesia]

This isn't a trading thread per say. I've just been doing a lot of thinking lately about the state of BTC or crypto in general, and have found myself drifting into negativity regarding certain groups. Damn generalizations creeping in and harshly judging people without digging deeper - today it's the trading side of crypto.

So diving in, I am in the Pro "spend what you can when you can camp" ( No different than anything I still feel one needs to have some portion of savings) I think if we aren't spending crypto to encourage businesses to adopt it where is the endgame. I also feel like a lot of the crypto rich have abandoned creating a market environment for one that really only benefits "gains". There are so many trading platforms out there when you compare against say online marketplaces; or even attempts at marketplaces. My only issue really comes down to how does trading benefit the overall BTC and crypto ecosystem if trading is the only activity users are performing with their coins.

I'm not saying it's entirely bad. Trading has helped bring a lot of people seeking profits into the space, but are they doing anything else? So I'd like to know what you do with your trading gains, does it just roll into a larger bag,  do you sell and cash out in Fiat, or are you trying to also spend coins when the opportunity presents itself. I'm open to all opinions, as I'm sure many people here see things differently. I've just had thoughts that this aspect of the overall economy has developed disproportionately to the marketplace portion, and feel it has a net negative effect.

Traders should spend their profits and enjoy their profits or use the profits to solve their financial worries. For this purpose they must convert some of bitcoins into local currency. Some people keep on investing the profit again and again in new trades to increase their portfolio but i do not think this is right. Because if the trader few trades goes wrong, the profit earned before could turn into loss very quickly.

So if you are already profitable in trading, then the profit is not made capital again, it will be risky, I prefer to withdraw my profit regardless of the nominal value for future savings and I will not be as direct in trading.
Capital trading must still exist and should not be disturbed because it makes our capital to trade again.

[salad daging]

Anxiety will always appear when the total assets are still in the main wallet balance, especially if it suddenly experiences floating. in exchange like binance has 3 different wallets, if you get 10% profit, send half of it to a futures wallet and leave it passive there. and the other half is only used to back up capital, for a moment we have to manage assets psychologically so that the mind remains in control.

[aardvark15]

I tend to save most of my Bitcoin, but I have spent some on a few occasions.  The main reason I hold is that I believe there is plety of room for Bitcoin to increase in price and I am using it as an investment. 

There is another issue however.  That is it's not necessarily easy to find places that accept Bitcoin where I am located. It's still very early in the acceptance stages for Bitcoin and it needs time to grow.

[Janation]

With the prices we have now, I just hold it now and basically depend on my job's salary.

It's been months that I am not spending that many cryptocurrencies since we all know how would that end up, it would obviously be our loss. But when the price is good, I can spend some of them but not too much. I live where cryptocurrencies are accepted but not a lot of them are really using it so when I am using it, I would be converting it or sell it.

[maydna]

I always spend and convert my bitcoin to cash in monthly so I can have money to buy anything and fill me and my family's needs. It's not all about saving the profit only, but we need to cash out the bitcoin into local fiat to buy what we want. Besides that, I cannot use directly of bitcoin because there are not many local stores that I can visit to buy something to fills my daily needs.

But yes, I save my other bitcoin just in case I see the bitcoin price can increase so high in a short time so I can sell my bitcoin at the highest price. But I feel that the bitcoin price will not grow in a short time because we will be going to see the halving time, and that can cause the bitcoin price to go to any price that we don't expect. So saving the rest amount of bitcoin will be a great idea so we can make a huge profit in the future.

[Furious 7]

If profit in trading, maybe this is look like people will usually answer like this. But my friend keep told me to increase capital when profit but don't forget to withdraw some and make it as saving and spend it. So after profit, only my profit which i will split, for increase my capital and withdraw it to bank. So when i need something i still have money and not disturb my capital. And if my capital looks bad and i have chance to get profit, i use that savings.

Yeah i think when we have much profits we should withdraw it and save it for daily needs or an important sudden need. As long as the portion of the spending amount not more than the investment amount i think the investment and the financial status is still healthy, or people could move their profits from crypto to invest in more safe investment

That's right, if we have the advantage of trading, it's better to save as much as possible in a more tangible asset because indeed we will need it in a few other important ways, I will never profit it in trading again and better if I save or make my savings in the future up front it will be better than having to splurge.

[iamsange]

If profit in trading, maybe this is look like people will usually answer like this. But my friend keep told me to increase capital when profit but don't forget to withdraw some and make it as saving and spend it. So after profit, only my profit which i will split, for increase my capital and withdraw it to bank. So when i need something i still have money and not disturb my capital. And if my capital looks bad and i have chance to get profit, i use that savings.

Yeah i think when we have much profits we should withdraw it and save it for daily needs or an important sudden need. As long as the portion of the spending amount not more than the investment amount i think the investment and the financial status is still healthy, or people could move their profits from crypto to invest in more safe investment

That's right, if we have the advantage of trading, it's better to save as much as possible in a more tangible asset because indeed we will need it in a few other important ways, I will never profit it in trading again and better if I save or make my savings in the future up front it will be better than having to splurge.

That is right, and will be better. Savings is good, but make other safe investment is not a bad idea and can really help us. But maybe pick right investment like property and pick something that maybe will get increased in value, easy to sell in future will be good for us.