Are you ready to spend crypto when market is down

[burugcrypto]

Hello Everyone,

I am not speaking about just Bitcoin. I am speaking about every cryptocurrency / token.  Regardless of crypto price fluctuations, many online and offline stores are ready to accept crypto as payment. So How will willing are you to spend crypto for your purchases?

If one doesn't spend their crypto for purchases and wait for to spend their crypto when its price is nice, are they really considering it as a cryptocurrency or can we assume like those people are treating more like a security or investment instrument?

[hugeblack]

The question is how much money are you willing to spend, almost some of us divide the money into several parts, money for investment, money for daily use and money for short-term investment.

Thus, in most cases, we will not spend investment money on daily needs and the same for short-term investment, but we can use daily use money (altcoins or the lightning network) to purchase some goods and services if they accept Bitcoin payment.

when the market is down money for daily use will be as less as possible (like less than 5% of our total crypto)

[Upgrade00]

It's no secret that the price of Bitcoin is speculative and many use it as an investment. The value has multiplied thousands of times over, in the course of it's history, so, some would naturally expect it to increase further and as such hold on to it.

So How will willing are you to spend crypto for your purchases?

A drop in the price would not factor in much with a $1 purchase of a cup of coffee, or less than $50 for a hardware wallet. I can still comfortably do this from time to time, along with other small, daily purchases involving Bitcoin (that's what I hold).

If one doesn't spend their crypto for purchases and wait for to spend their crypto when its price is nice, are they really considering it as a cryptocurrency or can we assume like those people are treating more like a security or investment instrument?

For some it could be a currency, for others a hedge fund, and for some others a currency.

[bitzizzix]

I personally don't do it unless there is no choice and absolutely must use crypto for certain transactions personally, and whenever there is a sharp decline most people will definitely choose to hold or keep it rather than use it and buy to increase holdings because it is a great time.
and for another reason in the country where I live there are no shops or sellers that use crypto as an alternative payment and that's what makes me prefer to hold it and also buy when the market is down for the long term, because I believe every downturn there will be an increase and it doesn't matter how long, but it will definitely happen and I will get a lot of profit.
and as long as I can use fiat why should I use crypto because crypto is a promising investment option, unless they legalize it and many shops or sellers use crypto for transactions.

[Charles-Tim]

If you are receiving your wages or salary in fiat. You may want to invest in bitcoin.
If you are receiving your wages or or most of your salary in bitcoin. You may prefer to convert some to fiat or spend it directly.

That is it in reality.

If bitcoin bull market is over, you may decide to convert your coins to bitcoin
If bitcoin bear market is over, you may decide to convert your fiat to bitcoin.

If one doesn't spend their crypto for purchases and wait for to spend their crypto when its price is nice, are they really considering it as a cryptocurrency or can we assume like those people are treating more like a security or investment instrument?

It depends on you and how you see it. But bitcoin is normally used for payment in places where it is accepted and the adoption continues.

[posi]

Currently, I have not and do not intend to do this as my daily living expenses are unrelated to my crypto investments. I have an outside main job and instead of selling crypto assets or spending it, I am still trying to accumulate more of my assets during this bear season with my salary. Your question is no different than you are asking if we are willing to sell crypto assets during bear season while everyone is trying to accumulate more crypto assets and waiting for a bull season to come.

[Rikafip]

If one doesn't spend their crypto for purchases and wait for to spend their crypto when its price is nice, are they really considering it as a cryptocurrency or can we assume like those people are treating more like a security or investment instrument?

Beauty of Bitcoin is that everyone can use it as he pleases, there are no rules or rights/wrongs, even though I do think that all bitcoiners should pay with bitcoin when they can. It doesn't have to be a big amount or even often, but if every now and then you have a chance to pay something directly with bitcoin that costs like $10-$20, why not?

I personally spend crypto on the regular basis, no matter the price and I stopped looking back at how much my bitcoin would worth if I didn't spend. With that being said, I do spend more when bitcoin is worth more (for example I sold some bitcoin when price was $50k+ and fully renovated my apartment) and at the moment I am only spending bitcoin when its convenient and for nothing major like that.

[cheezcarls]

It really depends on our instincts and belief on a certain coin or token no matter where the market goes. Like for instance, I have strong belief in Bitcoin despite the market is down today. I’m just gonna keep buying Bitcoin with my extra “not beer” money every month regardless of the market situation to build and accumulate wealth overtime.

Despite that there are no promises or guarantees on when will we see another bull run again, it’s just that I have strong belief in BTC as it has the capability to withstand the bear market and may come back much better than ever.

[bestcoins1]

I am not speaking about just Bitcoin. I am speaking about every cryptocurrency / token.  Regardless of crypto price fluctuations, many online and offline stores are ready to accept crypto as payment. So How will willing are you to spend crypto for your purchases?

Willing to spend crypto is only because there are two parties who agree to carry out the transaction. In this case I mention (Buyers and Sellers). But I personally have never spent my crypto on online and offline stores until now because I still prefer to spend it on the exchange where I trade.

If one doesn't spend their crypto for purchases and wait for to spend their crypto when its price is nice, are they really considering it as a cryptocurrency or can we assume like those people are treating more like a security or investment instrument?

This is something I run very often, where I'm more often than not waiting for the best price to release my crypto or spending the crypto I own. Because I think that kind of thing is more comfortable for me to do and can provide a little extra benefit for me after holding it for a few months or years.

[Obito]

I think that it's the moment that I am scared to spend my crypto the most, I think of it like having my crypto losing its purchasing power so it's better if I keep it for now and wait for it to recover it's purchasing power. So to answer the question whether I am ready to spend my crypto, I would say no in general but if I got it right and I have converted most of my crypto for USD then in a sense I am ready to spend my crypto when the market is down although most of the time, I use most of the USD to buy back the crypto that I've sold.

[ultrloa]

Hello Everyone,

I am not speaking about just Bitcoin. I am speaking about every cryptocurrency / token.  Regardless of crypto price fluctuations, many online and offline stores are ready to accept crypto as payment. So How will willing are you to spend crypto for your purchases?

If one doesn't spend their crypto for purchases and wait for to spend their crypto when its price is nice, are they really considering it as a cryptocurrency or can we assume like those people are treating more like a security or investment instrument?

This will always be depends on what tokens you are telling about since there are shit tokens doesn't really worth it to be bought even if the market is so down since there are some of them will die naturally on bear market season as there dev decide to abandon their project and already want to secure their pockets.

If we are talking about top alts and other tokens maybe yes but I will be more careful since will try to seek some good position to enter to avoid wasting money.

[ethereumhunter]

For now, I don't want to use my crypto to buy anything, let alone use bitcoins, because I still want to hold more bitcoins and wait for the crypto market to reverse. I am more interested in using crypto as an investment instrument than a means of payment. Moreover, using crypto as a payment method must get the government's approval. And if the price of crypto in the market has reversed and reached its highest price, I'd better sell the cryptocurrency on the market and take the profit, then send it to my bank. After that, I will take the money for me to use to buy my needs.

[Rruchi man]

So How will willing are you to spend crypto for your purchases?

I wouldn't jump on it as my first mode of payment, but if it turns out to be the last available option to me, I will. I will do so and not feel too uptight about my decision because just as crypto can function for investment purposes, it also has the function to be used for exchange of goods and services. And as a strong believer in bitcoin and a member of this forum, it is a duty for us to strive to ensure that all the functions of bitcoin are met.

[Jemzx00]

I am not speaking about just Bitcoin. I am speaking about every cryptocurrency / token.  Regardless of crypto price fluctuations, many online and offline stores are ready to accept crypto as payment. So How will willing are you to spend crypto for your purchases?

I am very much willing to use cryptocurrency whether it's bitcoin or other tokens as a payment method through any transaction however it will still depend on how convenient paying cryptocurrency will be. In regard to the crypto price fluctuation, just as what most of us will do is seldomly use cryptocurrency as the payment method and try to stick with fiat especially when the price is too low. But there are still some exemptions such as for emergency purposes or urgent need.

If one doesn't spend their crypto for purchases and wait for to spend their crypto when its price is nice, are they really considering it as a cryptocurrency or can we assume like those people are treating more like a security or investment instrument?

In this case, it depends on how one will consider bitcoin whether it's for investment, currency, security, anonymity, and other purposes of bitcoin. But to the general public, most of us consider it as both for investment and currency purposes and have a goal to earn thru bitcoin or cryptocurrency in general. Most of us intend to accumulate more cryptocurrency as much as possible to maximize our potential profit however we also use it and sell it to fiat to buy our needs and wants.

[Yatsan]

Foolishness to some but reasonable to others. It is true; you'd only lose in an investment once you chose liquidation of your asset or by spending what you are holding 'coz that would simply mean you sold your asset for a low value. But as we all know, we have different circumstances; there are times we would be forced to prioritize other things such as if you are needing emergency money and such, there would be a tendency for you to let go of your losses or idea of gaining profit from enduring down market. Point here is, no action is wrong as long as you won't regret it afterwards and as long as you have a valid reason you yourself won't question about. That's your money in the first place and only you have the rights to make that 'move'. If you have other resources and you are that determined to your investments, ofcourse it would be better to avoid using your assets especially at this situation we are currently experiencing.

[autumnleaf]

I am willing to spend some of my assets if necessary, but even if the market is in a bear market right now, I don't believe it is necessary. As long as I have extra cash, I still need to figure out how to maintain acquiring valuable tokens. If you are a holder, make sure you can keep it for up to three to five years.

[uneng]

I'm not aware of many stores accepting bitcoin and altcoins as payment method. But if I found a product of my interest online and if it were possible to pay for it with bitcoin, I would definitely make the purchase, despite bitcoin being cheap or expensive on the currently moment. I'm in favour of using btc as currency, instead of an investment exclusively. I believe that is a good way to encourage more sellers to start accepting crypto from their customers on their respective shops.

Anyway, without doubts that is not the general mindset in crypto universe. Most adopters still don't use or see their crypto assets as currencies, since they only hold and sell later for fiat profit.

[aylabadia05]

Depending on the amount of income obtained in the form of fiat. Why, because in order to be able to get crypto, first of all every beginner has to buy with fiat currency. Then what needs to be considered is the level of income and the needs of different people. So, the percentage of the division will be different in using the money.

[Techkoy407]

I personally prefer to use crypto as a future asset or investment,
because I think it's much better.

indeed crypto has many uses, not just for investment or future assets,
but I am more comfortable and more interested in using crypto only for long term investment.

anyways in my country there are no shops or shopping centers that use crypto as a means of payment.

because if crypto is made into an investment, then we will be calmer and more focused,
because the crypto market if seen every day will affect our psychology,
we become restless when investing.

that's the reason why I prefer or be interested in using crypto as an investment or future asset.

[burugcrypto]

Thanks for your responses. I am not judging anyone because everyone is true to some extent and right from their prospective.  A lot of people are Seeing Bitcoin as an Security/Investment instrument and profit from it.

I'm not aware of many stores accepting bitcoin and altcoins as payment method. But if I found a product of my interest online and if it were possible to pay for it with bitcoin, I would definitely make the purchase, despite bitcoin being cheap or expensive on the currently moment. I'm in favour of using btc as currency, instead of an investment exclusively. I believe that is a good way to encourage more sellers to start accepting crypto from their customers on their respective shops.

Anyway, without doubts that is not the general mindset in crypto universe. Most adopters still don't use or see their crypto assets as currencies, since they only hold and sell later for fiat profit.

I really like your answer personally as it matched Satoshi's aim of creating bitcoin. He wanted it be peer to peer payment instrument.


Bitcoin gets more value when more people come to spend it for purchases & not when holds it in their wallet. No offense to anyone.  But people should stop seeing it as investment instrument and see it as normal currency.