What would you consider living on crypto?

[Argoo]

This topic has already been discussed many times. The majority agreed that it is still almost impossible to use one cryptocurrency, since not all goods and services can be paid in cryptocurrency. And there is no reason to do it. You need to use all types of currencies, depending on how profitable it is to use them in a particular situation. State currencies and cryptocurrencies have their own advantages and disadvantages. It is necessary to take advantage of all their types and convert one to another if necessary.

[kryptqnick]

For now, any way that allows spending Bitcoin is a good one. It can be a debit card, a payment system or anything else. I'm currently at the stage of converting to fiat in order to use the money, but I wouldn't be doing it if direct spending became an option. In my country, there is only a handful of places where one can spend Bitcoin, and these are not places selling what I usually buy, so it's not very helpful. If, however, supermarkets started accepting Bitcoin as payment (going directly from a BTC wallet), I would use it directly, especially at times when the fees are reasonable. I don't mind the volatility that much, but the fees can sometimes be a problem.

[Louis Harper]

For me, it is just my investment tool. I do not plan to use it as a payment method. I just want to save it for the future. Although I have my job now and occasionally open positions to buy, I think the future of cryptocurrency is an indispensable part of me.

[NathanielParker]

To be honest, when I first entered the field of encryption, I had the idea of getting rich, because I was not satisfied with my current status quo. I wanted to have more and achieve more, so I got more gains on the basis of now, and entered After the market, I experienced the fun and benefits. I like this better. I can challenge myself and let me be at the forefront of the field that many people don’t understand.

[electronicash]

it's hard to live with crypto only in my country. crypto users will have to convert their coins to fiat before they could spend, there is no way we can spend bitcoin directly since there are only a few stores that accept BTC.

for the people who considers BTC to be an investment, its gonna be hard for them to let go of their BTC. they expect the price to shoot to the moon so why would they spend it when it's going to be worth a lot later.

[Wawa2013]

it's hard to live with crypto only in my country. crypto users will have to convert their coins to fiat before they could spend, there is no way we can spend bitcoin directly since there are only a few stores that accept BTC.

for the people who considers BTC to be an investment, its gonna be hard for them to let go of their BTC. they expect the price to shoot to the moon so why would they spend it when it's going to be worth a lot later.

I have the same difficulty as you, can't spend Bitcoin directly to buy daily necessities. It's not that there aren't many shops that accept Bitcoin
payments, but in my country using crypto is only allowed as a digital asset. So the government of my country forbids using Bitcoin as payment,
nor can we live solely on investing in crypto. We know it's very difficult to earn a steady income from investing in crypto, so for now I really can't
rely on crypto for a living. I still have to work in the real world to be able to earn a steady income, and the extra money I have I can use to invest
in Bitcoin. So for me crypto is just my retirement plan in the future, hope the Bitcoin price rises very high in the future and can enjoy the results.

[peter0425]

Mostly about the people who want to get paid in BTC / crypto and only spend  BTC / crypto staying away from banks.

This is what we dream of, isn't it?  Because the bank continues to print money and control your financial surplus.  Living with crypto will get us out of the bad, but I would choose to go hand in hand between paying bitcoin/crypto for advanced needs and using fiat for real-life scenarios.

actually if you continue reading his post , OP is asking if we can consider living in crypto if we will convert or transfer our coins into other platform like bitrefill or bitpay is this still a crypto living?

For me, it is just my investment tool. I do not plan to use it as a payment method. I just want to save it for the future. Although I have my job now and occasionally open positions to buy, I think the future of cryptocurrency is an indispensable part of me.

so what about in future? you will still hold? lol Bitcoin or crypto is meant for payments or other form in which tradable , so if you will just hold it then you are going nowhere  .

[ven7net]

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.

We went around and around for a while as to where his line was vs. mine. And it does bring up some interesting points. If you are getting paid in BTC and send it to BitPay / Conbase and convert it to their debit card and spend from there are you 'living on crypto'? How about Bitrefill and other places you can get gift cards from BTC / crypto?

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?

-Dave

As for me, it is better where there is a convenient and affordable use of funds. But here you need to correctly understand that if you are talking about using Bitcoin and cryptocurrencies in general as money, then very little has been done for this. For example, if there are points where you can buy goods for BTC and other cryptocurrency, then there are very few such places. In this case, banks win, since with the help of their services you can pay for any product in any store. As for making a profit, this is where there is a fork, where some want to invest in BTC and other cryptocurrencies, since they bring more profit than assets in the bank, and you also own your own funds, and in the bank your funds are protected bank, which at a not very good moment can become a problem to receive them. It is also worth considering the inflation of money, which is gaining momentum right now.

[michellee]

Bitcoin and other cryptocurrencies for now certainly cannot be fully used to make payments, especially considering that currently many governments are still limiting the circulation of bitcoins in their countries to make transactions and payments, making it impossible for us to live with cryptocurrencies completely, if without us exchanging at all with conventional currency.

Although we can not use bitcoin and other cryptocurrencies to make payments, we can still convert it into fiat money by selling it into exchanges to have money to buy our daily needs. Maybe we need to wait until the government accepts crypto to start to use crypto to be the payment method. Until that time comes, convert it into exchanges is the only way that we can have. Right now, we can use crypto as our investment to prepare for our future.

[AicecreaME]

I think that putting all your savings in Bitcoin works much better instead. If you live on Bitcoin, unless you earn at least 2x what you need for monthly expenses, there will be months in which you will struggle to live. Especially when quick dumps come and you happen to have to spend a little larger sum of money. You earn $500 a month? Should Bitcoin drop by -50%, any $1 coffee you bought before will now cost you $2 and any t-shirt you bought for $10 will now cost you $20. Got a $200 rent? It will now cost $400. Difficult living like that, and nobody will guarantee that by the end of the year you will recover from your losses.

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.

[LogitechMouse]

If you are getting paid in BTC and send it to BitPay / Conbase and convert it to their debit card and spend from there are you 'living on crypto'?

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.

[marilynmanson21]

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

[Ndlongap Ndlongop]

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

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.

[glendall]

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

[tygeade]

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.

[Semar Mesem]

Mostly about the people who want to get paid in BTC / crypto and only spend  BTC / crypto staying away from banks.

This is what we dream of, isn't it?  Because the bank continues to print money and control your financial surplus.  Living with crypto will get us out of the bad, but I would choose to go hand in hand between paying bitcoin/crypto for advanced needs and using fiat for real-life scenarios.

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.

[TheGreatPython]

Mostly about the people who want to get paid in BTC / crypto and only spend  BTC / crypto staying away from banks.

This is what we dream of, isn't it?  Because the bank continues to print money and control your financial surplus.  Living with crypto will get us out of the bad, but I would choose to go hand in hand between paying bitcoin/crypto for advanced needs and using fiat for real-life scenarios.

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.

[SurVM215]

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.

[ali1177]

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.

[boled]

We went around and around for a while as to where his line was vs. mine. And it does bring up some interesting points. If you are getting paid in BTC and send it to BitPay / Conbase and convert it to their debit card and spend from there are you 'living on crypto'? How about Bitrefill and other places you can get gift cards from BTC / crypto?

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.