Topic: Bad economic situation makes bitcoins more difficult to keep. (Read 959 times)

Like you asked above @fuguebtc, if anyone knows the future, no, no body knows the future. That's why sometimes people plan life, but this life turns bad for them and some of these people start thinking about whether it's the end of it all.

Also, no body knows how much he or she will spend in the future. No one knows, that's why it's good to always save money. Saving money until you give up (dies), so that even if the person is no longer existing, the children of the person will not suffer. If you don't know how much to save, just save, so it will not look as if you don't think about tomorrow.

Yes, the current economic situation in some countries is getting harder, like my country, if you don't plan ahead. Sorry to you. Although there are good jobs, even with a good level of education, you can't be employed if you don't have any relations or friends there.

In this life there are only a few people who plan things and it happens for them accurately, but not all the time.

Planning is necessary and extremely important for any man, especially those who are married. Because if we miscalculate, the people who will suffer the consequences will not only be us but also our children. But do you know the future? Do you know how much money you will spend in the future? And do you anticipate the unexpected things that will happen to you? Especially with the current weakening economy.

Don't assume everyone has a bad plan and you have a perfect plan. They still have a plan for their life but it depends on their income. If they don't have a high income, how can they have large savings? There are many things to consider when planning.

I agree though it can't really be helped even with those plans but all of a sudden, a big money is needed to be spent and there's no way that the current savings in fiat is enough.

They tend to even touch the investments that they have and one of it is Bitcoin. And the harder part is what if it is only bitcoin that he's invested. I can't blame those people even if they know how much they're earning the entire time.

We all have needs to cover and necessities to be filled. But I do agree that with planning, these things can be avoided and foreseen but not everyone can make plans when what they earn are just mostly enough and bare for living.

Selling bitcoin on the red market or selling without the plan we have set out is never a comfortable feeling. But there are more important things in life than bitcoin, and the purpose of investing in bitcoin is also for us to have a better life. So I won't hesitate to sell my bitcoins if there is no other solution.

Having multiple sources of income, lots of savings, many different assets...is what everyone wants. But what matters is how many people are doing it. It sounds easy to say but we even struggle to save little by little, so how can we have so many savings, so many different assets? It's very difficult to do that these days.

Investing is important and really good, and if you're not disciplined enough it becomes really difficult but at the same time no one should ever invest at the expense of meeting pressing needs. Bad economic situations will always come go creating upstreams and downstreams of the economy. It may lead to many people losing their jobs and many business going bankrupt,so a person should always have multiple sources of income making it easier to invest .And also, there are wallets which hold Bitcoin as if it's a fixed deposit account. You may want to try one of those if your discipline is playing games on you.

If it really happens, it surely makes us to have no choice. Even worse, if we have no savings on banks and have no other assets besides Bitcoin. Selling the Bitcoin is the only way to deal with the situation. If it happens to me, I also won't think twice to sell it even if it is still in the red market. When it is related to the urgent needs, we will sell everything that can fulfill the needs.

Sure, we don't rely on Bitcoin investment only, it is better to diversify our assets. Ideally, we also have stable coins in our wallets, we can sell our stable coins when the market is red. The price of stable coins like USDT or USDC tends to increase during the red market. So, it can be the right solution whenever we need fiats when the market is dump.

Anyway, it is surely better if we have some jobs. When we lose 1 job, we still have another job. But we need to divide our focus when we have some jobs. Although we have 1 main job, we must have enough time to handle side jobs as well. If someone only can focus 1 job only, they are unable to run some jobs.

If what you mean is the daily needs that you have to provide in life, I think that should be separated from the capital that will be brought into any investment. So, if you want to focus on several investments for your future, try applying a percentage pattern that you can divide into several other valuable assets besides Bitcoin. But you have to remember that Bitcoin is the best asset that has been proven for years.

So putting a larger percentage of capital into it is a very appropriate thing so that you can use the rest for other things if you like to put capital in several investment baskets. And also coins other than Bitcoin usually won't immediately increase in a short time or within a certain time if Bitcoin doesn't move well in the market, but if you like stable investments for now, I think you need to look at investments like Gold and also stable coins others where the level of risk of loss is always small, as well as the level of profit that you can get from both.

The problem lies with both the government and the people. A lot of people blame their woes and problems on the government despite not doing anything themselves to change their situation. A lazy individual would always find someone else to take the blame for a bad situation.
Admittedly, the government should always step up and try to increase the standard of living for its citizens but you wouldn’t expect the government, having not enough resources to satisfy everyone.

Incentives meant to encourage entrepreneurship and growth are in some cases, available to the public but a lot of citizens willfully remain ignorant waiting and relying on handouts from the government.

Whether you do like it or not which your main priority would really be your needs on which you would really be ensuring or assuring that you would really be able to make yourself provide and sustain

or give on whatever your family needs in terms or survival on which as a family man or person then you would really be having that kind of obligation and responsibility. You would really be only thinking about on other things if you do see that you do have some extra funds whether it would really be stored up as savings or would really be used on finding for some business or investment for you to be able to make out that another kind source of income. We arent blind on how economical problems that we do experience could really put up us on the hard situation on which leaving out no choice but to spend to those money which are really that intended for investment.

Just like on what we are really that pertaining which is on Bitcoin holding which there are really that moments which we cant really be able to avoid on spending
specially if we are really that in need of money or really just that short.

In some parts of the country, some people are finding it difficult to eat a three-square meal, not because they don't want to eat but because they can't afford it. I don't think anyone will be having bitcoin in his or her wallet and will still want to starve himself, definitely, they will sell maybe some part of the bitcoin just to take care of the necessary things that they need to do at that particular time, and at the end, they will be selling the bitcoin gradually till they sell all their bitcoin. They have the intention to hold the bitcoin, but they don't have a choice, so they have to sell.

When you are holding bitcoin, you have to be disciplined, but sometimes you won't have a choice but to sell. If you are having some health challenges that you need money to solve and the only money you have is the bitcoin you are holding, you won't have a choice but to sell your bitcoin just to take care of yourself.

I think put the needs first. if you really have to take part of the bitcoin investment for needs why not. and it would be better not to focus on just one asset, bitcoin does have good growth, but wouldn't it be better if we didn't just put it in one basket. try to invest where it is more promising within the time that can be targeted. Bitcoin has high fluctuations, even waiting for the trend to return takes several years, therefore we must try to invest in something more stable.

Poor planning from the beginning is the reason behind all this conditional selling of bitcoin. You know what you earn weekly or monthly and you know what you spend as well as your savings. After you have a reasonable savings, you can take part of it to invest in bitcoin which is not part of your calculation again. I mean you should consider it as not part of your asset until when your target is hit. In the case of emergency, you can spend from your savings and no need for you to sell your bitcoin.

Planning is the key to success. You can not invest bitcoin with whole of your savings and expect miracle to happen when you are in need.. It's better to invest a little amount in bitcoin for a long time than to be in haste to invest heavenly and run in bankruptcy that will lead you to sell it within short period of time with possible lose.

Yes, it's like your very last choice and you did everything to think of and pull anything that you have to pull.

Someone who's sold his bitcoin and tried to find any other solutions but still ended up with selling it, I know that they have tried hard but it's just  that there's really no other option left anymore to them.

It is understandable but I wish that it won't let them down.

I wouldn’t lie it is very difficult here as well, the economy is very tough and the high cost things have affected us here too. In my country things get cost every now and then and the amount we spend for the month to cover our needs and wants is barely enough to last us 2 weeks and the salaries earned by workers is no more sufficient for them and their families and a lot of us who try to save up one way or the other turn to our savings for survival. The economy is not friendly and holding bitcoin for the future is becoming more difficult, saving part of my bitcoin earned from signature campaign is even more difficult and instead i spend some part of my holding when the need arise because my earnings is not enough to live on anymore. I hope things get better so i can hold my bitcoins for the upcoming bull run.

It’s true, people in countries with a stable economy and good jobs will find it easier to save and hold bitcoin than those in countries with unstable economy and scarcity of jobs and employment opportunities. You will only be able to save when you have food and have all your responsibilities and needs taken care of because only those alive have a future and it’s better to live comfortably and have no savings than to leave all your needs and responsibilities unattended and have a lot of savings.

That is really a difficult situation and decision to make. You'll be needing to decide if you sell it off because you need it for emergency purposes or you take out a loan just for that emergency thing. You really need to think but again if there is a will there is a way meaning we will find another way to get that money that we needed because selling it is for sure we are at a loss so we will find a way to like hold it more and probably if we can profit from it that is the profit that we will be paying for that debt. So again it is just our decision if we don't have another choice like zero choices then you'll need to bail out and sell it off.

It will indeed be a dilemma when we need something and the choice is to sell bitcoin. If it is the only way then we can do it, but remember the outline "if it is the only way". However, if we still have several other solutions, then it is better to avoid it, especially if our investment has just started and has not yet made a profit, in my opinion it is a 2-fold loss.
Again we are talking about good planning here. If we can do that I think we can avoid it all. indeed something difficult comes cannot be predicted. But we can prepare well in advance.

As much as there is a certain degree that the government is responsible for our financial situation such as the lack of job opportunities and low income for public and government workers (which is a whole new discussion, I am very hesitant to touch since it is different in every country), we are ultimately responsible for our own situations. It is our actions, decisions, and even lack of those that lead us to where we are. See, the problem is, most of those who are putting the blame on others like the bad economy and government, are those who are letting themselves be stuck in a bad situation, letting themselves just be there and believing that there is no other way out as their initial plan and ideas did not work or resulted to a negative outcome. Moreover, these "complainers" (as I'd like to refer to them) do not find ways to acknowledge and solve the problems but instead, let the problems devour them and find other means to blame and run away from their responsibilities. The key to ensuring that you are able to move forward, despite the hurdles that outside factors bring (including unexpected situations) is to stick up for your decisions and actions, even if they bring more problems and negative outcomes, if you take responsibility for these you will learn to solve them one by one and find a way out of them and turn bad results to opportunities.

There's a little solution on that, if you are in need and you are holding. Try to measure if you can keep and still hold a lot from it, like selling a little by little until that needs of yours is filled.

Yeah, we can't just dictate the situation and if we're in need of it and your last option is to sell then you will be forced to sell. Can say that we can always accumulate.

But, if that happens we will never know how high the price will be if we go back and DCA.

Countries are comparable to enormous corporations, in which each citizen is a shareholder. What is your position on citizens contributing rather than simply complaining? Good thinking, right there. Nobody could have said it better

When discussing Bitcoin, we are discussing the future. Life, pleasure, comes first always. If selling that valuable Bitcoin will get you out of an impasse, you should do so. I've witnessed so many people who bought low and sold high, but wonder what? They are still available for negotiation. Because existence consists of one extraordinary event after another

You're selling and purchasing again? Its okay. But remember, next time, perhaps, perhaps, you should hold on a little longer. Because Bitcoin, it can only go up until it doesn't. However, that is a tale for another day. Trust yourself

People think that  managing a whole country system is easy and they want a steady positive economics status but this is just our thinking and if we itself given a chance to handle economics system then we will realize that it's not quite easy as we think. economics state of each country is different and if our country facing economics crisis then we should build our country instead of blaming government.

Bitcoin is worthy to hold for long term but if we have no other ways to fulfill our need then we shouldn't hesitate to sell because living happy life is our first priority. There will be many situations in this world that we will have to sacrifice our precious things. In these ten years i remembered many times that one coin I bought to hold for 5 years at least sold out in 2 years because of bad situation and when everything become normal I got these coins again.