Do you think it's still wrong selling properties for Bitcoin? - page 2.

Mr.suevie

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Quote from: Z390 on June 23, 2023, 06:06:28 AM

I am this close to making double of my money yesterday when I looked at my Bitcoin wallet, this was the Bitcoin I bought at 17k with two acres of farm lands I sold in 2022, I still feel very happy right now because of my decision, I believe that some risks are worth taking and mine is paying off, some people tried to talk me out of this, if I have keep the lands yes it could grow big in future, but the fastest growth of Bitcoin is far more enticing for me.

I am not trying to tell anyone to sell their properties to buy Butcoin, I have more lands that's why I am able to sell for Bitcoin, I think it's wrong having a land or two and sell because of Bitcoin, but if you have more, it's going to worth the risk, nothing grows insanely well like bitcoin does.

I am excited to see how 2024 and 2025 will play out, tell me, is anyone taking such risks with Bitcoin investment? Do you think I went too far selling something as valuable as lands?

Well looking at the situation of things as you have already stated that you have more than enough land that the sales of this particular one won't be of any negative effect to you makes it okay by me in the decision you took. But in the situation where the land is your only one I don't think it will be advisable to sell it off because the risk involved will be bigger. Because the desire profits would have taken a lot longer due to the market volatility and the land might be of use to you before that times.

Lanatsa

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Quote from: Finestream on June 27, 2023, 03:34:50 PM

Quote from: Vaskiy on June 26, 2023, 04:32:03 PM

Quote from: Davidvictorson on June 26, 2023, 04:13:21 PM

We are not here to validate you in any way. You took a big chance, and it paid off. That might be done by someone else, but it wouldn't work for them. Do you think about taking a profit now that you have a 100% profit? is what I would like to know. Or would you want to make a 200% profit before taking a profit? Once, I sold a Rolex and invested the proceeds in bitcoin. I took a profit and purchased a new Rolex when the price of bitcoin rose. You can take the risks and still be safe if your calculation is accurate.

It all depends on how you consider bitcoin and the way you carry it forward. There were difference of opinion when it comes to selling properties and buying bitcoin. Going through the life of Taihuttu we'll get to know how positive we need to be and how his family have turned bitcoin family. Not only his house, he sold his entire belongings to invest into bitcoin. Just think the risk he had taken with a family of five.

The point is not everyone gets lucky and paid off their investments just like the family you mentioned. Well, bitcoin is certainly an ideal and profitable investment, but if you are not that risk takers and would easily faint when prices are moving against the market, then bitcoin investment may not be good for you. There are a lot of profitable investments around. Just suit yourself and look for investments which you think you can easily learn and master based on your own interest and ability.

As much as possible it would really be that wise that you shouldn't really be taking some selling decisions like properties or whatsoever you do have because it would really be wise on accumulating as much as possible and we know that having properties specially if it can be monetize then you could really be taking advantage into that.There's no point or that no sense on selling it out but rather save it up and
on the time you do make more income with those investment or properties then you could really just simply rinse and repeat.

Dont stop on a certain point just because you are seeing that you do have possessions then you would be simply be deciding on selling it and putting it on Bitcoin.Yes, it does have potential but doesnt
mean that you would be needing to sell something.Its true that not all people who had taken such decision do ends up on profitable or being on the positive side. This is why we should
really be wise on taking up decisions on times like these.

mendace

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Quote from: Kelward on June 27, 2023, 03:18:01 PM

Something significant about this thread is that every member unanimously agrees that it is best to invest money that you can afford to lose in bitcoin. Personally I won't sell my land for a volatile venture like bitcoin investment, because the value of the land will keep increasing, while bitcoin fluctuations makes it not to be a guaranteed income when you want to cash in. I will rather invest in bitcoin from the reward that I get from my earnings.

I agree too and furthermore you would be selling an asset for an asset and it's not very logical, better to exchange shitty hard-earned Fiat currency in that land which allowed you to eat once again but which only gave you waste paper.

Finestream

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Quote from: Vaskiy on June 26, 2023, 04:32:03 PM

Quote from: Davidvictorson on June 26, 2023, 04:13:21 PM

We are not here to validate you in any way. You took a big chance, and it paid off. That might be done by someone else, but it wouldn't work for them. Do you think about taking a profit now that you have a 100% profit? is what I would like to know. Or would you want to make a 200% profit before taking a profit? Once, I sold a Rolex and invested the proceeds in bitcoin. I took a profit and purchased a new Rolex when the price of bitcoin rose. You can take the risks and still be safe if your calculation is accurate.

It all depends on how you consider bitcoin and the way you carry it forward. There were difference of opinion when it comes to selling properties and buying bitcoin. Going through the life of Taihuttu we'll get to know how positive we need to be and how his family have turned bitcoin family. Not only his house, he sold his entire belongings to invest into bitcoin. Just think the risk he had taken with a family of five.

The point is not everyone gets lucky and paid off their investments just like the family you mentioned. Well, bitcoin is certainly an ideal and profitable investment, but if you are not that risk takers and would easily faint when prices are moving against the market, then bitcoin investment may not be good for you. There are a lot of profitable investments around. Just suit yourself and look for investments which you think you can easily learn and master based on your own interest and ability.

Kelward

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Quote from: The Cryptovator on June 25, 2023, 04:15:04 PM

In my personal opinion, I wouldn't recommend selling one's lands for Bitcoin investments. It's a different situation if someone has a surplus of land and is willing to take risks. Losing it wouldn't be a significant setback for them. If the value of Bitcoin had dropped by 2 times after your purchase, you probably wouldn't be making this post or asking this question. Fortunately, your Bitcoin investment has doubled, making you happy. However, it's important to remember that not everyone is as fortunate as you are.

Something significant about this thread is that every member unanimously agrees that it is best to invest money that you can afford to lose in bitcoin. Personally I won't sell my land for a volatile venture like bitcoin investment, because the value of the land will keep increasing, while bitcoin fluctuations makes it not to be a guaranteed income when you want to cash in. I will rather invest in bitcoin from the reward that I get from my earnings.

Wimex

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I don't think it was a bad decision, investing in bitcoin is a good option as long as you study the subject well, many have done that kind of thing and have achieved their goal, they have become wealthier than they thought they were, some may take longer than others but anyway, everyone who knows how bitcoin works knows that everything that has to do with it is unpredictable, at one moment you may be winning and at another you can lose everything, it could come to say that sometimes it seems like luck more than strategy, but there is no doubt that getting advice and having the courage to take risks as you did is what pays off in the long term many investors, who have nothing to do with bitcoin, make this type of play, since their motto is all or nothing, and some have worked for them, and they do it with fiat currency, which in my opinion, is not so stable let's say If a person has enough assets to use a part of this and try, I think it would be fine, they would only lose a little of what they own if what they intended to fail, now someone who does not have these possibilities if I think they should think better of it

tjtonmoy

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Quote from: Blitzboy on June 27, 2023, 06:21:59 AM

I grasp your take on Bitcoin, but it lacks layers. All investments carry risks, right? Conventional assets like real estate and precious metals, despite steady returns, arent they subjected to market swings too? You underscore Bitcoin's high-risk, high-reward nature, but doesn't that make it a tantalizing gamble? You concede Bitcoin is a marathon, not a sprint, kind of investment.

Only risk what you can afford to lose, agreed, but isn't that Investment 101, not exclusive to Bitcoin? It seems wiser to say a strategic, diverse investment approach, Bitcoin included, is the real winner.

When you enter the game, you should know about it beforehand. Investors should know what the risks are and how they can maintain that for better investment plans. Investing in anything doesn't give you a 100% guarantee that you will make profits. Either it is Bitcoin, or something else. It is a piece of common knowledge among good investors, so I did not feel that I need to address that here. High risk - high reward does not apply to everyone. Not everyone can afford that. And if you are willing to take that risk, better to do it with something you can afford to lose, right?

Strategic, well-planned, diverse investment approach, yeah, you need all of them for a successful investment. But as an investor, haven't you learned those already? When it comes to investing, compromising something which is already a better investment is a fool's job. Selling property? No, I can not agree with that. If one is investing in Bitcoin and making profits, then they know the strategy very well. So if we stick to the main subject, I guess my points are quite valid.

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Quote from: Rruchi man on June 27, 2023, 08:08:13 AM

Quote from: Z390 on June 23, 2023, 06:06:28 AM

I am not trying to tell anyone to sell their properties to buy Butcoin, I have more lands that's why I am able to sell for Bitcoin, I think it's wrong having a land or two and sell because of Bitcoin, but if you have more, it's going to worth the risk, nothing grows insanely well like bitcoin does.

You have said it all in this little paragraph. The decision to sell your property for bitcoin will depend on the number of properties you have, the importance and the profit potential of the property whether it has future prospects or not.

Land is a profitable property to have, but in some few cases, you can run at a big loss holding on to some properties when you should have sold them off and invested in something better like bitcoins.

Do not hurriedly sell off your land for bitcoins, if it is something you must do, it should be a decision you make on your own and not out of pressure.

Do you mean bitcoin is better than real estate? Real estate at risk and bitcoin without risk? All investments are risky, real estate and gold are considered the safest investments, if they are risky, then bitcoin is even riskier. I am a bitcoin investor, but we need real judgment, I don't like bias for any asset. If you say bitcoin is more profitable than real estate, then I would agree with you. But saying that real estate is riskier than bitcoin is not entirely accurate.

Rruchi man

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Quote from: Z390 on June 23, 2023, 06:06:28 AM

I am not trying to tell anyone to sell their properties to buy Butcoin, I have more lands that's why I am able to sell for Bitcoin, I think it's wrong having a land or two and sell because of Bitcoin, but if you have more, it's going to worth the risk, nothing grows insanely well like bitcoin does.

You have said it all in this little paragraph. The decision to sell your property for bitcoin will depend on the number of properties you have, the importance and the profit potential of the property whether it has future prospects or not.

Land is a profitable property to have, but in some few cases, you can run at a big loss holding on to some properties when you should have sold them off and invested in something better like bitcoins.

Do not hurriedly sell off your land for bitcoins, if it is something you must do, it should be a decision you make on your own and not out of pressure.

radjie

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Quote from: Z390 on June 23, 2023, 06:06:28 AM

I am this close to making double of my money yesterday when I looked at my Bitcoin wallet, this was the Bitcoin I bought at 17k with two acres of farm lands I sold in 2022, I still feel very happy right now because of my decision, I believe that some risks are worth taking and mine is paying off, some people tried to talk me out of this, if I have keep the lands yes it could grow big in future, but the fastest growth of Bitcoin is far more enticing for me.

I am not trying to tell anyone to sell their properties to buy Butcoin, I have more lands that's why I am able to sell for Bitcoin, I think it's wrong having a land or two and sell because of Bitcoin, but if you have more, it's going to worth the risk, nothing grows insanely well like bitcoin does.

I am excited to see how 2024 and 2025 will play out, tell me, is anyone taking such risks with Bitcoin investment? Do you think I went too far selling something as valuable as lands?

It doesn't matter as long as you own a lot of land and sell it to buy bitcoins because you feel confident that the potential growth in the value of Bitcoin can provide multiple returns in the future and most importantly are aware of the risks

Flexystar

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The surprises yet to arrive in the Bitcoin world. The world's bitcoin acceptance rate has not grown yet neither most of the population is into Bitcoin. Imagine everyone holding even few thousand to million satoshi's could have made insane price hikes for the Bitcoin. The adoption is not at the fullest and that's because of the conflict in definitions of securities and assets from the SEC and different financial authorities around the world.

I am mentioning all of this because it has direct relation with the purchases you made. For example, real estates would grow in valuation every year depending on what prices government and the market imply in the years to come. However, in case of Bitcoin it is itself one of kind asset also and currency also. It gets valued and appreciation is not in few % but in hundreds to thousands over the course of decade plus.

By this, if anyone is buying bitcoin or preferring it over other assets, we are already doing great job.

Blitzboy

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Quote from: tjtonmoy on June 26, 2023, 02:10:34 PM

Selling properties to invest in Bitcoin is never a good idea. You got your profits because the market was favorable towards you. This won't be the case every time. Bitcoin investment carries a great risk. The volatile market is one of them. Also, you have doubled your money because you entered the market at a very favorable time. What if the situation were different? The price has grown very fast, but there is still room to grow more. Bitcoin is a long-term asset. The best outcome can only be seen in the long run. But before that, it faces many difficulties.

Bitcoin investment is not for everyone and not everyone can make a profit out of it. Many lose everything in it. So the situation and the circumstances were in your favor and you made a good profit. But this will not be the same case for others. Keeping that in mind, invest only what you are willing to lose if the market is against your luck. Lands, golds, silver- these are some assets that will give you proper return and are not as volatile as Bitcoin. So selling them to choose something that contains higher risk is a foolish decision to me. At least from my point of view. But you made a good profit, so congratulation for that.

I grasp your take on Bitcoin, but it lacks layers. All investments carry risks, right? Conventional assets like real estate and precious metals, despite steady returns, arent they subjected to market swings too? You underscore Bitcoin's high-risk, high-reward nature, but doesn't that make it a tantalizing gamble? You concede Bitcoin is a marathon, not a sprint, kind of investment.

Only risk what you can afford to lose, agreed, but isn't that Investment 101, not exclusive to Bitcoin? It seems wiser to say a strategic, diverse investment approach, Bitcoin included, is the real winner.

kro55

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Quote from: irhact on June 26, 2023, 09:34:28 PM

Quote from: Kasabus on June 26, 2023, 04:49:06 PM

You know it’s very risky to sell your property in order to engage in a very unforeseeable and dangerous investment like bitcoin as you might resort into losing and selling your property may end up into waste. That’s why if I can keep my property as much as I can, then I will never compromise it to enter into another investment. But maybe in the situation of OP, he said he has a lot of properties so selling one or two of it are never a waste. Good thing his investment paid off, otherwise he’ll live to regret his decision in the future.

Investing should be done with spare cash and not money that you'll need profits on as quickly as possible because you borrowed it or sold something as important as your house to get into the investment. Investing in Bitcoin needs patience and selling your house for Bitcoin won't give you the patience you'll need to hold through the different rough times of the market. Selling your house for investing in Bitcoin is a bad idea.

Some individuals in the past might have done it and succeeded but that doesn't make it a good strategy. Instead of selling your house because you want to invest big into Bitcoin, why not start small and sell other things that aren't as important as your home you use for shelter.

But in OP's case, it's not a bad idea. As he said, he has a lot of land, and selling a few pieces will not cause trouble even if his bitcoin investment fails. It would be a bad idea if you only have one house to live in, but if you have more than one and don't use it, you might consider converting to bitcoin. But admittedly, this is also too risky and should not be recommended to everyone, and we have many other ways to invest in bitcoin, not just selling assets to invest.

Oyidiya

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Quote from: Z390 on June 23, 2023, 06:06:28 AM

I am this close to making double of my money yesterday when I looked at my Bitcoin wallet, this was the Bitcoin I bought at 17k with two acres of farm lands I sold in 2022, I still feel very happy right now because of my decision, I believe that some risks are worth taking and mine is paying off, some people tried to talk me out of this, if I have keep the lands yes it could grow big in future, but the fastest growth of Bitcoin is far more enticing for me.

I am not trying to tell anyone to sell their properties to buy Butcoin, I have more lands that's why I am able to sell for Bitcoin, I think it's wrong having a land or two and sell because of Bitcoin, but if you have more, it's going to worth the risk, nothing grows insanely well like bitcoin does.

I am excited to see how 2024 and 2025 will play out, tell me, is anyone taking such risks with Bitcoin investment? Do you think I went too far selling something as valuable as lands?

Like you said, you have a lot of land, which is why it was easy to risk one, which turned out to be one of the best investment decisions you made. I don't think it's wise for anyone to sell their property for bitcoin because the person might not be as lucky as you are. It is always advisable for one to invest the amount they can lose if the market goes down because there is a 50/50 chance.

irhact

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Quote from: Kasabus on June 26, 2023, 04:49:06 PM

You know it’s very risky to sell your property in order to engage in a very unforeseeable and dangerous investment like bitcoin as you might resort into losing and selling your property may end up into waste. That’s why if I can keep my property as much as I can, then I will never compromise it to enter into another investment. But maybe in the situation of OP, he said he has a lot of properties so selling one or two of it are never a waste. Good thing his investment paid off, otherwise he’ll live to regret his decision in the future.

Investing should be done with spare cash and not money that you'll need profits on as quickly as possible because you borrowed it or sold something as important as your house to get into the investment. Investing in Bitcoin needs patience and selling your house for Bitcoin won't give you the patience you'll need to hold through the different rough times of the market. Selling your house for investing in Bitcoin is a bad idea.

Some individuals in the past might have done it and succeeded but that doesn't make it a good strategy. Instead of selling your house because you want to invest big into Bitcoin, why not start small and sell other things that aren't as important as your home you use for shelter.

Questat

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Quote from: Botnake on June 26, 2023, 02:36:50 PM

Selling properties is very risky, as you might lose them in the process and find yourself regretting in the end. But I believe there are always exceptions to that. Properties that are not giving you an income anymore might be good to sell and come up with a better and more profitable investment like bitcoin. However, risk management should be highly applied. Otherwise, if you sell your properties and expect quick profits from crypto will actually never work in the long run. Study your plan first, and prepare back ups if things not working according to your plan. I’d say diversification is a must but make sure to give bitcoin a bigger allocation.

Some people sell their properties for better opportunities but I don't take this option only for investing Bitcoin, unless like OP that have a lot of properties. It was not the best option because the ROI is not steady nor we can assure of getting money monthly but certainly have no exact date when. We can't rely our future on that and can't survive that situation if we are only relying on the income we get from investing in Bitcoin. Maybe if we are traders can possibly get a profit daily but if we are just holding, that takes longer.

Kasabus

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You know it’s very risky to sell your property in order to engage in a very unforeseeable and dangerous investment like bitcoin as you might resort into losing and selling your property may end up into waste. That’s why if I can keep my property as much as I can, then I will never compromise it to enter into another investment. But maybe in the situation of OP, he said he has a lot of properties so selling one or two of it are never a waste. Good thing his investment paid off, otherwise he’ll live to regret his decision in the future.

SOKO-DEKE

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Quote from: Oshosondy on June 23, 2023, 06:44:49 AM

I can not sell my land or property to buy bitcoin. It will make me look like I am risking too much and which could affect me. My property remain my property and the land will continue to increase in value too. This is what I will think and I will not sell my land. Sometimes it is not about the profit, but diversification.

Seriously, land is a great investment and it doesn't carry much risky as Bitcoin, due to volatility nature of Bitcoin and also as online investment, but if you also have a proper understanding of Bitcoin and you believe in it, there is nothing wrong with selling some of your land and investing the proceeds in Bitcoin.However, the only thing I will suggest to anyone is to avoid investing just in bitcoin or any other internet venture because they carry significant risk.

Quote from: Alpha Marine on June 25, 2023, 10:38:40 AM

It was a good form for him to sell a portion of his land to invest in Bitcoin. Things could go south we know but isn't that what an investment is? He invested what he can afford to lose.

Sincerely, this is what we should be worried about. Don't make all of your investments in one direction; instead, strive to make a variety of them because if something goes wrong with one, the others will support it.Therefore, selling a section of land and investing in Bitcoin is a welcome idea if someone has enough land and believes in bitcoin.

Vaskiy

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Quote from: Davidvictorson on June 26, 2023, 04:13:21 PM

We are not here to validate you in any way. You took a big chance, and it paid off. That might be done by someone else, but it wouldn't work for them. Do you think about taking a profit now that you have a 100% profit? is what I would like to know. Or would you want to make a 200% profit before taking a profit? Once, I sold a Rolex and invested the proceeds in bitcoin. I took a profit and purchased a new Rolex when the price of bitcoin rose. You can take the risks and still be safe if your calculation is accurate.

It all depends on how you consider bitcoin and the way you carry it forward. There were difference of opinion when it comes to selling properties and buying bitcoin. Going through the life of Taihuttu we'll get to know how positive we need to be and how his family have turned bitcoin family. Not only his house, he sold his entire belongings to invest into bitcoin. Just think the risk he had taken with a family of five.

Note3

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Quote from: Z390 on June 23, 2023, 06:06:28 AM

I am this close to making double of my money yesterday when I looked at my Bitcoin wallet, this was the Bitcoin I bought at 17k with two acres of farm lands I sold in 2022, I still feel very happy right now because of my decision, I believe that some risks are worth taking and mine is paying off, some people tried to talk me out of this, if I have keep the lands yes it could grow big in future, but the fastest growth of Bitcoin is far more enticing for me.

I am not trying to tell anyone to sell their properties to buy Butcoin, I have more lands that's why I am able to sell for Bitcoin, I think it's wrong having a land or two and sell because of Bitcoin, but if you have more, it's going to worth the risk, nothing grows insanely well like bitcoin does.

I am excited to see how 2024 and 2025 will play out, tell me, is anyone taking such risks with Bitcoin investment? Do you think I went too far selling something as valuable as lands?

The key lies in several things:
1. You still have other assets, so selling a few percent of what you have won't be a problem
2. You buy Bitcoin when the price is not in a high state, it is bearish, but if the situation is the other way around where you buy at a high price then you are currently probably stressed because your Bitcoin has decreased in USD.

Of course, it would be better for you not to advise people to do the same as you, because that is a risky suggestion, especially if that person only thinks that Bitcoin can make him rich in an instant, even though investing in Bitcoin requires patience to see it give the benefits that it deserves. It is hoped that the longer you keep it the better because the movement is more certain in providing benefits.

Topic: Do you think it's still wrong selling properties for Bitcoin? - page 2. (Read 823 times)