Topic: Bad economic situation makes bitcoins more difficult to keep. - page 2. (Read 951 times)

Thinking of other thing to do is not about trading your bitcoin because that is a very risky thing to do. Trading is not to be advised because it is difficult and you can lose all your coins. It is better with hodling it or you sell it if that is the only asset you have to safe yourself from financial challenge.


The problem is not on the people but bad government. If government provide good economic incentives to do business then people will be glad to struggle in business. Incentives like soft loan or interest free loan with very low repayment percentage then businesses will fluorish. If government policies reduce taxing on small business (SME) and encourage farming by supplying fertilizers, crops the economy will improve because it will add to the GDP.

"We all want to make a profit" But the problem is that not all can HODL long enough to make it happen but these people can try trading instead or short-term investing by starting to buy at the dip. If we badly need a money but we are still at a loss if ever we will sell our Bitcoin's, it's better to think of other ways first to have a money.

Maybe we can sell the item that we rarely use? Or we can also take a loan? But if only we learn how to budget and save up and maybe add another lite job to earn an extra income, we won't end up like that. We should not put the blame on the bad economy or on how our government runs it. The problem is only us.

Well what you said makes a lot of sense, this is a natural problem that can happen to everyone, especially those who are struggling to hold Bitcoin, but beyond this what can we do? in conditions like this there is really no other way or other options that can be chosen except to sell it even though you really want to hold it, and if there is great potential that tells you to hold Bitcoin again then I don't think you will choose that path. Would you let your stomach starve by continuing to hold Bitcoin for a longer period of time? I don't think so, everyone thinks that their life is more important than anything else, and you would definitely choose to sell some or all of the Bitcoin you have to solve bad economic problems. So, whatever you have, you have no choice but to use it to survive.
You said the right solution, finding an extra job is better.


Well that's right, I agree and there really is no other choice but to utilize whatever we have at that time. Even though for example we have managed the economy in any way we can such as saving costs for example, there will still be times when something unpredictable happens to us someday, such as for example your business going bankrupt and leaving a lot of debt. Using cold money or money that is tried not to be used by some needs to then be used to buy more Bitcoin, you use cold money with the aim of being able to hold it longer, but still if you find conditions like this there is no other choice that can be chosen except to sell it. Holding Bitcoin is great but you also have to think about your life.

Worst scenario is that when you suddenly lose your job and you still have bills and loans to pay, so you end up losing all the chances to keep your bitcoins longer but have no choice than to sell them even at a bearish market. This is why we don’t have to rely in one source of income no matter how stable it is. It’s still best to increase our side hustles because once you have 2 or 3 more sources of income, no matter how bad the economy is, I guess your finances will never be much triggered.

In any investment when the economic situation is difficult, there is no investment that can be maintained, regardless of future possibilities, knowledge and patience, but the basic needs in life must still be fulfilled.
So we have to be able to find a way out, for investment to continue and the economic situation to remain stable, those are two things that must be in sync, otherwise the two cannot work.

It all goes back to our economic situation in life, if we can't manage the economic situation in life, of course it will be difficult for us to implement this, Bitcoin hodling is indeed good and has pretty bright prospects in the future, but that doesn't necessarily improve or maintaining our economic situation and it must be remembered that no one can run away from risk, Bitcoin can go down at any time, and resiony

As generally many investments do. It takes time and patience, general hard work, and knowledge for an individual to maintain good investment and actually see profit from it. I believe the investment in crypto should be among the last options to use in case financial problems keep rising and the need for money gets so unbearable that normal financial sources cannot cope.

This is really true. It's not easy to hold Bitcoin if your income is not enough to cover your overall expenses (food, bills etc.) Bad economy can affect the people especially the minimum wage earner. Therefore if your salary is not sufficient, it's likely that you will sell your Bitcoin because that's what you count on in times you're in need.

But this can be prevented if you're not complacent to only rely on your salary from your day job. Start to look for opportunities to maximize your source to earn. So that you can still invest a portion of your income, able to hold for long and not be tempted to sell due to lack of money.

I quite agree with you on this. Bitcoin investment and hodling is all about sacrifice. Yeah, the economic crunch makes saving a bit difficult but then, it's just like stowing money away in your piggy stash that has been mapped out for something bigger.
 I think hodling was never meant to be easy that's why the term 'holding on for dear life'(hodl) was originally formed, right?
Central banks and the government are debasing the local currencies around the world and the average bitcoiners wants the assurance that even if inflation rises and devalues the traditional fiat, their investment in Bitcoin remains untouched and secure.

cannot escape the fact that in this difficult economic situation as it is today, everyone has refrained from using their money in the form of investment. even if you force yourself, then as you said, they will look for investments that are definitely safe and are usually connected to the government, even though the profits are not big, but there is certainty and there is a guarantee.
but I prefer if there are more funds to invest in crypto which does have potential such as bitcoin, ethereum, bnb. it only takes time and a lot of patience and don't panic quickly, remember investing in crypto is a long term investment.

This is a different condition, maybe everyone has experienced it, when they are really in an urgent and important situation, they need cash, while they only have Bitcoin. When they have no more chances to get money as soon as possible and it is impossible to take a loan, one the only way possible is by selling Bitcoin assets.

Maybe for some people, this decision is very unfortunate, especially since this is a bearish period. but for some people, this is the best of the worst decisions, Bitcoin may be searched again, but something urgent may be more important and there are no more chances. I personally have done it several times, selling some Bitcoins for important and urgent needs, when I needed a large amount of money for some important and urgent expenses, and I personally will never regret that decision. What is certain is, we are selling it not just for spree- spree or mere panic arena, but indeed because of compulsion and there is no other way. And believe that with a few more efforts to the dean, we will be able to collect Bitcoin again little by little. Precisely with this, the value of Bitcoin is more valuable to me.

If you're a bitcoiner and still having the mentality of the fiat and local economy in mind then you're wrong, bitcoin shouldn't be seen or treated the same way we approach other systems because it's an entirely different network, if we want to hold bitcoin, we should then focus on the prospect in making an investment in it rather than looking around the market challenges with the present fiat economy and system, inflation could be one of the most distracting factors which may want to hinder our investment because we may feels things aren't balanced enough for us to have the rendered opportunity for bitcoin investment.

i understand what you are feeling friends, difficult economic pressures really make it difficult for us as bitcoin investors to keep holding on, especially if you can't get another job out there then selling the bitcoin you have is your only hope for survival.

but you must be able to learn independently while in bitcoin, you can use the skills you have to sell works of art ^{(for example)} or what services can you offer for a fee in cryptocurrency or bitcoin.

if indeed you don't have the expertise that you can use to make money independently ^{(by not selling the bitcoin that you have)} then you should be able to take part in online classes that often appear on the internet, and try to get additional income from the internet through the skills you learn from the online class.

Unfortunately, there are people who does invest all of their money because of greed and frustration. Problem starts with your mindset upon entering any investment. Ofcourse assuming for profit would be a good thing to instill but always consider factors and circumstances. Profit won't come in an instant therefore you should assure you would be able to 'hold into it' for as much time or months needed to come up with profit as your goal. Especially in this industry wherein market price volatility is an obvious thing therefore therew will always be unpredictable price movements which could cost you a lot if you'd panic and choose to cut losses.

True that, we must adjust accordingly.  If  we are lacking in funds, we can look for an additional source of funds to meet our needs.  if we have plentiful enough, we can then set aside the extra for investment.  We must not force ourselves into investment when our income is just enough for our basic needs.  Forcing savings or investments when we hardly meet our basic needs will only affect us in negative ways and often end up in a mess.

So in a time of draught(difficult situation), the best move is to look for the source of water(source of income), planting more trees(investment) in draught can only make us lose all the effort and money since the draught cause the plant to wither prematurely(forced selling of investment at a lost due to the need of funds).

It is was always advisable you invest with your residual income, so that it won't affect your finances. Nobody invest with his/her entire savings or money. Hence you begin to invest your entire income, you will find it extremely difficult to survive your day to day expenses.
So next time, while investing, please put an amount that you can easily look away even if you're going through some sort of hard time, hard times don't last, it's just a period of time but don't go touching your investment.

You right, when having real life job make us easily with long term planning when investing in Bitcoin or spent our money for investing in stock, we need spent investment to several placed although cryptocurrency most promising with better return one day later but not fault with try on other kinds of investment. Although tomorrow still mystery we need good plan for preparing what have to do for tomorrow and investing as much possible when having money is better way.

Its important thing when having with real life job we can invest in bitcoin as much possible, since price still not promising yet Bitcoin investment will be our assets in the future actually three or four year later when Bitcoin break out to higher price.

I agree with you, people really invest in bitcoin, they have to learn and read a lot, don't just go along with it. If you are serious about learning you will understand the importance of discipline, because bitcoin is awesome. This is what I always hold in investing in bitcoin. Indeed, as you said when holding bitcoin and we are pressed by the need to be forced to sell bitcoin, even though the intention was to invest in bitcoin for the long term.

Therefore we need to know in advance that in investing in bitcoin we must have some income so that our investment assets are not disrupted even though the economy is bad. That's why many seniors say here that investing uses free money, under any circumstances we still have cash reserves so that investment assets are not disturbed.

That's right if you are solely relying your asset mainly on Bitcoin and you can't withstand the economic status of your country and yourself and you have to sell then you have no choice at all. It is the reason why having as many sources of income as much as you can is the best thing that an individual has. You'll be able to hold as long as you can for your Bitcoin assets and then sustain it with the other financial instruments that you've got. For someone who's not experienced and doesn't have the means, it's hard but you need to wise up and build your foundations on it so that in the future you'll get a lot of help from those foundations for the assets that you're building.

Cut your clothes according to your size.

Bitcoin investment is not a must do or die.

Having a real life job makes things easier for your long-term hold plan.

Today's problem can be big in the eye, but tomorrow remains a mystery, and that's why we need to be prepared, not for today, but tomorrow, things always get more harder as time fly by, and investing in Bitcoin will only make your future better compare to someone who doesn't invest anything.

You don't have to use all you have to invest, a 1000$ invested on Twitter stock years ago is just 3000$+ today, it's still something if you have other things going on in your life, but invest that 1000$ in Bitcoin would have given you a better return of your investment even today.

Exactly and that normal. this is where we need to separate personal finances from business, meaning that before these conditions come in and force us to do this, we must all be prepared, for example, create 2 investment accounts and a trading account, or simply say, separating personal savings from business savings will be easier in making the bookkeeping of the business clearer and more structured. By separating it, it will minimize the risk of liability if business income is used for personal purposes. So, we can more easily find out whether personal and business financial conditions are stable or not.