Bitcoin in times of danger. - page 2.

yazher

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Quote from: mvdheuvel1983 on April 09, 2023, 03:11:50 AM

Selling the bitcoins you have accumulated over the years even when the market is not ideal to meet a need is the last resort for every bitcoin holder. I can agree with you when you said being a part of the forum has provided access to a wealth of knowledge and insight about the market and in many times as I can count, I have relied on the knowledge acquired here to make informed decisions regarding bitcoin.

It's just a sad turn of events but what can someone do whenever his family is in need and no one was there to help?

That's just how life goes and thank god you were able to keep that bitcoins of yours until you really need them and it's not really bad to spend it that way because family should come first and when you want to invest again with your spares money, you always welcome and just be careful next time because it's really not recommendable to keep your BTC in some exchanges while you holding it. better consider having a personal Bitcoin wallet if you could do so.

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Quote from: NicNacCoin on April 08, 2023, 10:28:02 PM

I had been hoarding some bitcoins for a long time. But today I was forced to sell that bitcoin for family needs. Tried a lot but could not manage the required money. Maybe nearing a bull market I sold my bitcoins. I am having a lot of trouble selling this bitcoin I have built up over the years. I am grateful to this bitcoin forum because if it wasn't for this bitcoin forum today I might not have found a solution to my need.

You shouldn't regret your decision. You did it for a good cause (your family) so it was worth it. You don't regret spending money, do you? It's just money, you can't buy many things with money - love, health, respect etc. I'm sure you'll be able to invest more soon. Wink

BitcoinPanther

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Quote from: NicNacCoin on April 08, 2023, 10:28:02 PM

I had been hoarding some bitcoins for a long time. But today I was forced to sell that bitcoin for family needs. Tried a lot but could not manage the required money. Maybe nearing a bull market I sold my bitcoins. I am having a lot of trouble selling this bitcoin I have built up over the years. I am grateful to this bitcoin forum because if it wasn't for this bitcoin forum today I might not have found a solution to my need.

You should not feel bad selling your Bitcoin for your family needs. There is no wrong in pulling out our Bitcoin holdings to serve as financial aid if it happen that our fiat money is not enough to sustain our family expenses. For me it is better to survive spending our Bitcoin than starve holding it. So I agree with earlier replies that we should not feel bad selling our Bitcoin in time of needs and emergencies. Bitcoin can be replenish holdings but the lives of our beloved cannot.

naira

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Actually, you don't need to regret the sale, even though we know when the situation is urgent and requires any money to be sold including Bitcoin ownership. Today you may sell it but that doesn't rule out the possibility that in the future you will have it again. Don't be sad because family needs are the most important thing above all. In the past, I also did the same thing, selling out of necessity, but time goes on and we always have the opportunity to have it again. There are still many ways to hold Bitcoin, while Bitcoin is still being traded, you can buy it whenever you want. Imagine that there are many people out there who have lost access to their wallets with a large amount of Bitcoin. While they need money to stay alive.

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Quote from: NicNacCoin on April 10, 2023, 01:51:07 AM

There was some suffering for a while. Because right now all investors are consolidating their investments. And at this moment I sold my investment. That's why I felt some pain. But now I don't feel any pain.

Of course, I believe that it was not easy for you to let go of your bitcoins that you have collected for years. But I also believe that you made the right decision because you solved your financial problem. There is nothing wrong with that.

Quote from: NicNacCoin on April 10, 2023, 01:51:07 AM

Yes I hope to deposit bitcoins again. And for the next bullish I still have the opportunity to use that opportunity. Desperate what to do must sell for necessity. And whatever we earn is for necessity.

Now it is important to carefully consider your financial situation and plan your next steps. First of all, think about how much money you need for your emergency needs and current expenses. Plan your expenses and income to avoid financial problems and set long-term financial goals. Finally, you can return to the world of bitcoin after you financially recover and decide to reinvest. However, it is important that you decide on your investment strategy to avoid potential risks in the future.

LDL

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Quote from: Kaliandra on April 10, 2023, 08:44:21 AM

Bitcoin apart from being used as a long-term investment, of course, it can also be used as savings with the aim that if there is an urgent need, of course, it can be sold, SO what you are doing is the right thing because you have made the right decision, namely selling btc for your interests.

@Op, He kept bitcoins in reserve for his own needs but he sold his bitcoins because of sudden family problems. The main purpose of hoarding bitcoins is to use them for family support and personal needs in the future. The OP may have kept his bitcoins unsold for a long time, but now he feels a certain regret that he is forced to sell the bitcoins. If he can earn more bitcoins in future then surely he can accumulate more bitcoins.

Ojima-ojo

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Quote from: NicNacCoin on April 08, 2023, 10:28:02 PM

I had been hoarding some bitcoins for a long time. But today I was forced to sell that bitcoin for family needs. Tried a lot but could not manage the required money. Maybe nearing a bull market I sold my bitcoins. I am having a lot of trouble selling this Bitcoin I have built up over the years. I am grateful to this Bitcoin forum because if it wasn't for this Bitcoin forum today I might not have found a solution to my need

Congratulations and be thankful you have some Bitcoin start to pay for your bills, one of the primary reasons why we hold Bitcoin is to provide an alternative in times of crisis, this is because when other things fail bitcoin will forever remain in the term of finances, I have hard similar expireneces some time ago where I had to use some of my bitcoin to sort out some personal needs and I was glad that I had such savings to fall back on in those rainy days.

But I made sure to replace it back when things normalized for me, in fact I made it as a mandatory task to make sure it was returned in full, so ops you did well to have used your Bitcoin to sort out your family needs, this is one of the primary features of Bitcoin that is why bitcoin is sometimes fondly referred to as a life saviour.

Kaliandra

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Bitcoin apart from being used as a long-term investment, of course, it can also be used as savings with the aim that if there is an urgent need, of course, it can be sold, SO what you are doing is the right thing because you have made the right decision, namely selling btc for your interests.

ItsCrafty

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Quote from: NicNacCoin on April 08, 2023, 10:28:02 PM

I had been hoarding some bitcoins for a long time. But today I was forced to sell that bitcoin for family needs. Tried a lot but could not manage the required money. Maybe nearing a bull market I sold my bitcoins. I am having a lot of trouble selling this bitcoin I have built up over the years. I am grateful to this bitcoin forum because if it wasn't for this bitcoin forum today I might not have found a solution to my need.

We holding BTC to survive in future because the Bitcoin is next big technology which will adopt by many people weather its legalize or not because its decentralization will force every single one to hold some part of Btc. Regret to hear that you sold Btc below 50k$ but there was no other way to fulfill family need then you should not be worry about it because Family wealth is our first priority.

I will suggest you to fight hard with these situations and when you feel comfort, you can invest again. I hope your buying rate will be not much high then selling rate. may i know what was your buying rate and how much years you hold it?

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Quote from: NicNacCoin on April 08, 2023, 10:28:02 PM

I had been hoarding some bitcoins for a long time. But today I was forced to sell that bitcoin for family needs.

You made the right decision, I have been in that situation already and I don't regret selling my bitcoin because a family member need money for his hospital bills. We are still a year from the bitcoin bull run, so you still have a lot of time to start from scratch again. If you have done it before, then definitely you can do it again.

Quote from: NicNacCoin on April 08, 2023, 10:28:02 PM

Tried a lot but could not manage the required money. Maybe nearing a bull market I sold my bitcoins. I am having a lot of trouble selling this bitcoin I have built up over the years. I am grateful to this bitcoin forum because if it wasn't for this bitcoin forum today I might not have found a solution to my need.

Again, as I said, you don't need to feel bad about it, just think of it as another lesson. And bitcoin investment is a journey and there are times that you need to sell them. The most important thing is that you help your family from the bitcoin that you have sold. It's difficult to make that decision, however, that is the right thing to do so don't feel remorseful.

Yatsan

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This is how investment works; not only giving you potential prodit but also provides in times of need. However this is also the downside of any investment; ofcourse plan would be holding for years but we just cannot be certain of when will that time be, and there would be instances that'll push or force us to go against what is planned, and that thing is called emergency. Glad that OP will be able to aid what he is needing but this should not be the end of line for him. He may again accumulate an amount to invest, someday if not today. Keep in mind that it will never be too late to engage in an investment especially in this industry which has just began its progressive growth and is potentially good for long term holding.

jeraldskie11

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It is so hard to sell the Bitcoin that you have held for a long time because for you it is already a treasure, and this is the only way you can remember when you started with Bitcoin or you can be proud of yourself that you have held Bitcoin for this long, but just sell it because it is necessary due to unforeseen events or emergencies. It's hard to think decide that situation, but you have to prioritize what's more important especially when life is involved. So, I'm so happy for your decision.

GeorgeJohn

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Nobody will likely sell out its bitcoin when bitcoin is approaching to the bullish market, in some point's that's what most of investors don't like a problem that will make them to withdraw their proposed investment funds, its painful to invest and after making a withdrawal bitcoin rise or we experience a bullish market. In aspect of forum been a helping hands, I think that forum has been a helping hand to an extent that you can solve or overcome certain challenges with the btc earn in the forum despite that the objective of creating forum is not in the aspect of earning BTC, but right now I think so many youths who finds themselves here is able to train themselves in higher institutions, I think forum deserves an accolades for grooming people from different geographical environments to know the rudiments of cryptocurrency and bitcoin precisely.

nutildah

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Oh, so the creator of NicNacCoin is from Bangladesh? You reference a currency abbreviated as "Tk" in your opening post, which is short for the Bangladeshi taka.

Well congrats on being able to save up that kind of money during the two or so years you've owned this account, I guess. Yeah I know the earning potential if you would have started with your own account from the beginning would have been very limited in the same timeframe.

LDL

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Quote from: NicNacCoin on April 08, 2023, 10:28:02 PM

I had been hoarding some bitcoins for a long time. But today I was forced to sell that bitcoin for family needs. Tried a lot but could not manage the required money. Maybe nearing a bull market I sold my bitcoins. I am having a lot of trouble selling this bitcoin I have built up over the years. I am grateful to this bitcoin forum because if it wasn't for this bitcoin forum today I might not have found a solution to my need.

You are forced to sell bitcoins from your accumulated bitcoins due to your family problems, it is sad on one hand and happy on the other. Since you could not solve your family problem, you solved the problem by selling your accumulated bitcoins. It is undoubtedly an important aspect of Bitcoin and support in solving your family problems. Earn bitcoins again by spending time on bitcoin forums and save for the future just like you deposited bitcoins. Maybe again you faced a family problem and solved your family problem from that accumulated bitcoin.

SOKO-DEKE

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Although I have no much idea on how you are feeling about the situation but I would like to express my regret for the unforeseen events that led you to sold your Bitcoin at this time. I may add that no Bitcoin investor would want to sell their Bitcoin at this time when a bull run is getting approaching, but sometimes we have no other option but to sell it and use the money to solve some necessary problems

But believe that bull run this not yet started and the price is still low, and you can still accumulate Bitcoin before the bull run start you determined from the little you are earning from the forum.but if cannot meet up by accumulate some amount value in bitcoin before bull run started I believe there's another opportunity in future .

noorman0

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So you have experienced what many people say about, "bitcoin saves the household economy", bitcoin is very valuable depending on what condition you spend it in. Because I don't think people would really benefit from bitcoin if they never faced this kind of situation.

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You did not say if you had to sell at a loss or a profit, so it is difficult to see the whole picture. I had many friends who sold at a huge loss, because they bought near a All-time-high price. (They obviously did that against my best advice, but life happens and they needed the money)

We are some time lucky enough to come in early into a new technology and/or time the buying 100% correctly.... and then we make loads of money when the price spike.... but not everyone is that lucky. Cry

NicNacCoin

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Quote from: m2017 on April 09, 2023, 04:49:54 AM

Well, if it's sold, it's sold, why worry about it now. Bitcoin served their purpose in this case: it was needed at the moment when it was needed. It turns out that you knowingly saved up and hold btc all this time. At least in your lifetime, bitcoin have been helpful.

There was some suffering for a while. Because right now all investors are consolidating their investments. And at this moment I sold my investment. That's why I felt some pain. But now I don't feel any pain.

Quote from: m2017 on April 09, 2023, 04:49:54 AM

Expecting a bullish trend anytime soon seems premature to me and I think you will still have time to accumulate some bitcoin by the start of this. So, don't despair, I think everything is still ahead.

Yes I hope to deposit bitcoins again. And for the next bullish I still have the opportunity to use that opportunity. Desperate what to do must sell for necessity. And whatever we earn is for necessity.

aoluain

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There probably isnt any point to the thread but its interesting to read some of the replies.

Bitcoin in this instance worked for the OP, he needed money so used Bitcoin, he kept his
money in the first place in Bitcoin not FIAT, wasnt that what Bitcoin was designed for, to
enable us to Be our own Banks?

The ideal scenario would be to sell P2P without any third party involved but unfortunately the
OP couldnt do it.

Topic: Bitcoin in times of danger. - page 2. (Read 545 times)