Bad economic situation makes bitcoins more difficult to keep. - page 3.

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Quote from: blockman on August 26, 2023, 06:47:43 PM

Quote from: Pejoh Asu on August 25, 2023, 09:34:02 AM

Difficult economic conditions certainly have a direct impact on investment performance including bitcoin, when economic conditions are difficult then people will choose a more profitable type of investment even with a small profit margin, government bonds and stocks are usually preferred over other types of investment and risky cryptocurrencies high is of course an alternative.

It's not about that, but it's about your endurance during these economic collapses. And the way you handle your finances and investments will surely be impacted like if you've got no other source anymore, that's the time that you have to sell it no matter how hard you wanna hold it for the long term. The more assets and investments you have is better but you just can't hold them forever especially when your finance is badly affected by this type of condition, you have to sell and that's what makes it hard to keep the btc's your are holding.

You have a point here. No matter how bad and difficult economic conditions can go if an individual can still endure not selling and depending on their other financial sources then there is no problem and the economic standing wouldn't matter much. However, if BTC is your only financial source and you badly need the money then you will have no choice but to sell it. It is that simple.

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Quote from: Pejoh Asu on August 25, 2023, 09:34:02 AM

Difficult economic conditions certainly have a direct impact on investment performance including bitcoin, when economic conditions are difficult then people will choose a more profitable type of investment even with a small profit margin, government bonds and stocks are usually preferred over other types of investment and risky cryptocurrencies high is of course an alternative.

It's not about that, but it's about your endurance during these economic collapses. And the way you handle your finances and investments will surely be impacted like if you've got no other source anymore, that's the time that you have to sell it no matter how hard you wanna hold it for the long term. The more assets and investments you have is better but you just can't hold them forever especially when your finance is badly affected by this type of condition, you have to sell and that's what makes it hard to keep the btc's your are holding.

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Quote from: Pejoh Asu on August 25, 2023, 09:34:02 AM

Difficult economic conditions certainly have a direct impact on investment performance including bitcoin, when economic conditions are difficult then people will choose a more profitable type of investment even with a small profit margin, government bonds and stocks are usually preferred over other types of investment and risky cryptocurrencies high is of course an alternative.

Of course, it must impact on the investment aspect because people suffer financial problem. When people in a financial problem, they won't have a chance to invest in Bitcoin. Even in a certain condition, Bitcoin holder may spend their Bitcoin to convert to fiats because they need it for basic necessities or urgent needs. To be honest, I'm experiencing this as well, it make me difficult to collect more Bitcoin and maintain my existing Bitcoin.

Regarding bonds and stocks of government, it may be a possible alternative for certain people. But it is not a familiar thing for the common people, I rarely saw people choose government bonds and stocks here. When they are in a financial problem, most people prefer looking for more jobs. They will get additional jobs that can instantly get money. For example, they will choose a part-time work in a shop or they sell daily necessities.

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Quote from: Pejoh Asu on August 25, 2023, 09:34:02 AM

Difficult economic conditions certainly have a direct impact on investment performance including bitcoin, when economic conditions are difficult then people will choose a more profitable type of investment even with a small profit margin, government bonds and stocks are usually preferred over other types of investment and risky cryptocurrencies high is of course an alternative.

It impacted everything, as money movements are really difficult to flow.

More on how you project the potentials as even government bond or stocks are also affected and with that situation crypto
or Bitcoin is not exempted, though there're chances that a whale might play and use the venue to make money and play with
the current situation, we never know what capabilities they've got to play with the market.

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Difficult economic conditions certainly have a direct impact on investment performance including bitcoin, when economic conditions are difficult then people will choose a more profitable type of investment even with a small profit margin, government bonds and stocks are usually preferred over other types of investment and risky cryptocurrencies high is of course an alternative.

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When the economy is bad, rest assured our finances will also be put at risk. Seeing there are constant price increase in the market, then it’s hard to afford and trying to make our ends meet when everything is getting more expensive each day. And so, buying and keeping our bitcoin will also be compromised. That’s why we need to really discipline our finances these days. By focusing only on our needs and avoid all that are unnecessary, probably we can still save at least for bitcoin accumulation and holding it for long term. Also, relying on a single job is not sufficient anymore. It’s either you’ll keep on struggling with your finances trying to fit everything or just do everything to increase your sources of income so you won’t live in vain.

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Quote from: alastantiger on August 23, 2023, 07:18:47 PM

Even in bad economy whoever is determined to Keep Bitcoin would do it. The economy is not going to get any better. Being prepared is the best decision any holder can take. The motivation for every holder no matter the economy situation is that I'm the next couple of months we'd have the Bitcoin halving and the people who will benefit are the people who held. And the possibility of making a fortune out of it is high.

In a bad economic situation it will be very difficult to hold on to BTC if we have little income, but it would be very good if we don't sell it and keep holding on to be able to get a good profit from it. But it would be better if we have enough savings to take advantage of a situation like this to buy it and hold it to make a profit when the price improves later.

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Even in bad economy whoever is determined to Keep Bitcoin would do it. The economy is not going to get any better. Being prepared is the best decision any holder can take. The motivation for every holder no matter the economy situation is that I'm the next couple of months we'd have the Bitcoin halving and the people who will benefit are the people who held. And the possibility of making a fortune out of it is high.

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Quote from: Queentoshi on August 17, 2023, 12:38:56 PM

I was having a conversation with a friend, and we talked about how difficult the economy is and how it can disrupt someone's plan to hold their bitcoins without tampering with it. I think this is true because if you think of how difficult things are getting, Salaries from jobs no longer sufficient to sort all needs, and profit from business seriously affected and made intangible because of the increasing cost of running a business and the rising cost of things.

Holding your bitcoins has a lot to do with discipline truly, but discipline is harder to practice when you are being suffocated and suffering financially with plenty bills and responsibility to respond to. People in countries with better economy, where there are good jobs and businesses are working, Bitcoins will easier hold than for people who are in places with terrible economic situation. What do you think?

I remember the time when the Covid 19 pandemic hit the world, The finances of my little family were devastated and we had to move to our parents-in-law's house, even though we only depended on the payment I got from the paid bitcoin signature campaign and it lasted for several months.

slowly our economy is improving and my partner can also make enough money for the family so for now I can invest in bitcoin safely and don't need to sell the bitcoin that I hold when I need money, the point is I have felt how difficult it is to maintain the bitcoin that you have when you really don't have any other income that can financially support your family.

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Quote from: PeRo on August 23, 2023, 06:22:14 AM

That is definitely true and I think it stands for any investment. Since I am from a country which has a poor economy and isn't stable, it's always a thought to pull out/sell my investments to help me out with the situation. Fortunately, I am patient and I've never dipped because of some emergency and I never actually had to. But some people just can't meet ends with their salary so they sell even if they wanted to hold for a profit.

It would be ideal if everyone could invest and hold, but you can't really bet against the economic situation you are in.

Precisely, you can't control things that have not been there yet, with economic situation there're chances that you may be part of those employees
that will be cut off from the company.

Reason to sell your assets and not to continue the hold, though if you have other options or other assets aside from
your crypto, it might be possible to sacrifice those and wait for crypto to pump until it reach your target. It will be
a case to case basis and opinion base decision making.

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Quote from: Unbunplease on August 23, 2023, 04:58:24 PM

Quote from: Sayeds56 on August 23, 2023, 02:30:03 PM

Your insights are indeed on point, highlighting the issues associated with the decision to continue holding Bitcoin during the recession like economic environment that has led to hardships for all of us due to escalating prices of food and energy. Despite all these challenges, we should exert our best efforts to avoid selling Bitcoin for immediate but modest gains. Instead, we should exercise patience and wait for the halving event, which has potential to reward us with huge gains.

If we look back at history, bitcoin has always shown a big growth after the economic crisis slowly came to an end. In this case, the growth started unexpectedly, so many people just didn't have time to jump on the outgoing train. and perhaps the growth will start in the near future

When the economy is bad, people may not be able to afford to buy Bitcoin and keep for long because that maybe there only funds that is available for them to spare for a short while so selling it back to the market may not take too long. Now that inflation is increasing almost everytime, people are working for extra hours for them to earn more money from there work because there normal jobs can not foot there bills again. Life is becoming hard for people that are average workers in the society while the rich do not have a problem about get what they want.

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Quote from: Sayeds56 on August 23, 2023, 02:30:03 PM

Your insights are indeed on point, highlighting the issues associated with the decision to continue holding Bitcoin during the recession like economic environment that has led to hardships for all of us due to escalating prices of food and energy. Despite all these challenges, we should exert our best efforts to avoid selling Bitcoin for immediate but modest gains. Instead, we should exercise patience and wait for the halving event, which has potential to reward us with huge gains.

If we look back at history, bitcoin has always shown a big growth after the economic crisis slowly came to an end. In this case, the growth started unexpectedly, so many people just didn't have time to jump on the outgoing train. and perhaps the growth will start in the near future

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Quote from: AicecreaME on August 23, 2023, 10:47:01 AM

I guess it depends.

If you're discipline enough, I believe being short when it comes to money is preventable, because you have extras on your bank or maybe in your vault.

Those that have other funds that can be used in times of need really can survive those hard times and they can skip the temptation of selling the bitcoins that they're holding.

Quote from: AicecreaME on August 23, 2023, 10:47:01 AM

That's why it's important to have more source of income to avoid selling your bitcoin in a price that you're going to regret it.

I agree.
But not everyone can be in that position based on the situation that we're dealing with. We can be at the shoes of being prepared when those times comes but not everyone can be.

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Quote from: Sayeds56 on August 23, 2023, 02:30:03 PM

Quote from: Queentoshi on August 17, 2023, 12:38:56 PM

I was having a conversation with a friend, and we talked about how difficult the economy is and how it can disrupt someone's plan to hold their bitcoins without tampering with it. I think this is true because if you think of how difficult things are getting, Salaries from jobs no longer sufficient to sort all needs, and profit from business seriously affected and made intangible because of the increasing cost of running a business and the rising cost of things.

Holding your bitcoins has a lot to do with discipline truly, but discipline is harder to practice when you are being suffocated and suffering financially with plenty bills and responsibility to respond to. People in countries with better economy, where there are good jobs and businesses are working, Bitcoins will easier hold than for people who are in places with terrible economic situation. What do you think?

Your insights are indeed on point, highlighting the issues associated with the decision to continue holding Bitcoin during the recession like economic environment that has led to hardships for all of us due to escalating prices of food and energy. Despite all these challenges, we should exert our best efforts to avoid selling Bitcoin for immediate but modest gains. Instead, we should exercise patience and wait for the halving event, which has potential to reward us with huge gains.

But there are really moments or situations or conditions on which you dont really have no choice but to sell those coins since you are really that in need. Its true that it would really be that better that you should really

be avoiding on selling out your coins as much as possible but just like i said that there are really situations in life on which we dont have no choice but to sell out our coins because we are really facing up some
financial challenges. Its really true that due to bad economic situation on which it is really that a challenge that we would be experiencing tough accumulation in speaking about Bitcoin investment or even on other altcoins. This what makes that it is really that a struggle on doing so and this is something inevitable unless if you do have other source of funds and back ups then you could eventually sustain out.

It do matter on how good you are on having that extra income on which you could really be able to have because economic situations becoming even more worst as the years passing by.

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Quote from: Queentoshi on August 17, 2023, 12:38:56 PM

I was having a conversation with a friend, and we talked about how difficult the economy is and how it can disrupt someone's plan to hold their bitcoins without tampering with it. I think this is true because if you think of how difficult things are getting, Salaries from jobs no longer sufficient to sort all needs, and profit from business seriously affected and made intangible because of the increasing cost of running a business and the rising cost of things.

Holding your bitcoins has a lot to do with discipline truly, but discipline is harder to practice when you are being suffocated and suffering financially with plenty bills and responsibility to respond to. People in countries with better economy, where there are good jobs and businesses are working, Bitcoins will easier hold than for people who are in places with terrible economic situation. What do you think?

Your insights are indeed on point, highlighting the issues associated with the decision to continue holding Bitcoin during the recession like economic environment that has led to hardships for all of us due to escalating prices of food and energy. Despite all these challenges, we should exert our best efforts to avoid selling Bitcoin for immediate but modest gains. Instead, we should exercise patience and wait for the halving event, which has potential to reward us with huge gains.

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Quote from: Queentoshi on August 17, 2023, 12:38:56 PM

Holding your bitcoins has a lot to do with discipline truly, but discipline is harder to practice when you are being suffocated and suffering financially with plenty bills and responsibility to respond to. People in countries with better economy, where there are good jobs and businesses are working, Bitcoins will easier hold than for people who are in places with terrible economic situation. What do you think?

The easy way to hold bitcoin is to not utilize that money which is important for you and for which you think that this amount will be used during harsh condition. Those people who use their emergency fund in investment become mentally disturbed because neither they can use that sum as emergency fund due to fear of loss nor they can leave that amount for longer period because sometimes money become important to handle emergency situations.

If continues salary is possible per week or per month then one can manage situations through planning for it but when there is no hope for money then investment will just a burden for you which should be avoided. I know investment is necessary to continue flow of cash to manage daily uses but if you are not able to use extra sum then don't be involve in bitcoin investment as its risky and you will not be able to take benefit from it.

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Quote from: AicecreaME on August 23, 2023, 10:47:01 AM

I guess it depends.

If you're discipline enough, I believe being short when it comes to money is preventable, because you have extras on your bank or maybe in your vault. I assume your friend must put most of his funds to bitcoin that is why he is now being frustrated on how he's going to pay the bills, etc. or maybe his salary isn't that high to sustain his needs and responsibilities as an adult.

That's why it's important to have more source of income to avoid selling your bitcoin in a price that you're going to regret it.

You can be disciplined as much as you want, but if you made a move and some "shit" happens what will you do? Looks so simple when we talk about it, just make more sources of income, work harder, and spend less... but it's not so easy and simple in real life. Sometimes it's pretty hard to keep the balance... and I don't wish to talk about how easier is when you are alone adult and when you have a family to support.

Life puts us in some hard situations from time to time, and we choose what's best for us in that specific moment. And sometimes we choose good and sometimes we slip, but that's life... we can't control everything, but we can't be happy with what we have at the moment, I know I am... with all my bad choices, and I can't say I regret much.

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I guess it depends.

If you're discipline enough, I believe being short when it comes to money is preventable, because you have extras on your bank or maybe in your vault. I assume your friend must put most of his funds to bitcoin that is why he is now being frustrated on how he's going to pay the bills, etc. or maybe his salary isn't that high to sustain his needs and responsibilities as an adult.

That's why it's important to have more source of income to avoid selling your bitcoin in a price that you're going to regret it.

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Quote from: irhact on August 23, 2023, 04:11:18 AM

Quote from: Questat on August 22, 2023, 05:35:26 PM

People invest in Bitcoin for some reason and they would sell them when they are in need. We can't stop them either nor urge them that just hold because some of these investors are weak, they will easily get into panic once they saw a decline. But I don't see it was a problem because this is really how the crypto market works and this is how the volatility showed to us. It is definitely we can't see Bitcoin keep on high but we also see its price dump for any reason that is why we always have to be prepared for what will happen next.

These individuals claiming to be investors have to understand what investing is all about, if they don't have the behavior of investor they should stop lying to their self because it'll hurt them in future. They shouldn't be investing with money that they can't lose because that's only when the market dumping can cause a panic because they have gone to over invest amount they can't handle losing. Investing should be done for long term because that's when you can get the best profits.

For the crypto market to be active, there has to be buying and selling going on daily but it must not come from you as we have those that trades and make money from the market daily. Those traders are responsible for the activeness of the market and not you, an investor.

Many people who term themselves "investors" are actually just charlatans who have no idea how to truly invest. They act like young children playing in a sandbox filled with money and repercussions. They must leave the kitchen if they can't take the heat

People scatter their money about in an effort to make a fast buck without knowing the fundamentals of long-term investing. Not a game at all! It requires foresight, patience, and a well-thought-out plan. Panic is a weakness

Let's not overlook the crucial role day traders play, though. They keep the cryptocurrency market alive every day, while alleged investors merely observe from the sidelines. These traders are fighters, squaring off against every change and raking in cash. Where credit is due, give it

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That is definitely true and I think it stands for any investment. Since I am from a country which has a poor economy and isn't stable, it's always a thought to pull out/sell my investments to help me out with the situation. Fortunately, I am patient and I've never dipped because of some emergency and I never actually had to. But some people just can't meet ends with their salary so they sell even if they wanted to hold for a profit.

It would be ideal if everyone could invest and hold, but you can't really bet against the economic situation you are in.

Topic: Bad economic situation makes bitcoins more difficult to keep. - page 3. (Read 907 times)