Do you think it's still wrong selling properties for Bitcoin? - page 6.

Raflesia

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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.

I won't say you are right and I also won't say you are wrong in this matter because of course everyone has different decisions in every step they take.
When you do this, as long as you are sure and without coercion from anyone, then do continue if you think this is the best, but I really don't really recommend it to other people like you said because selling property is the only one, for example for bitcoin and If you don't have anything else, then it's really not recommended to do it because regardless of anything, it's clear that it's not the right decision.
Even though bitcoin's potential is visible, of course we have to have another strategy instead of having to go all out like that at the expense of everything.

Obari

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I won't advice that you sell a landed property to invest in bitcoin reasons that the price of bitcoin is not stable so to avoid risk it's better to invest in it with spare cash. Moreover the value of land does not depreciate, it appreciates over time so the idea of losing and asset to invest in another which profit is not really certain is a no brainer.

Although maybe you sold the land and invest when the price was 17k and then it increased to 30k then that should be considered a wise investment due to the doubled profit made from the investment but then, left for me I won't advice using a landed property for bitcoin investment.but OP you said in your statement that you sold two acres of farmland so I think before you took this bold step you had other assets to back up your loss and you were lucky to profit from such risk, congratulations anyways.

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

I am excited to see how 2024 and 2025 will play out, tell me, is anyone taking such risks with Bitcoin investment?

In the real world, you may find many contractors selling their assets just to win a job being auctioned. They know it only makes him profit, but of course there are risks. The same may be thought by some bitcoin investors, especially those with experience.

It could be that they have bought a lot of assets from bitcoin investment profits in the past and they want to sell them to invest again because of the good bullish hopes, but obviously it is risky. If it were me then I would not do it because there is no certainty whether I will be able to recover the assets I have sold in the future or even be able to multiply them.

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

Do you think I went too far selling something as valuable as lands?

Yes, could be.

Eternad

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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.

Do you consider computing the value of your land including the potential profit on it out of the crops you are planting on it? In some places like Japan, Farming can give a huge return overtime while their land value is growing. There’s nothing wrong on selling property to invest Bitcoin but not all scenario of selling properties to purchase Bitcoin will be same successful as yours because your profit came from other traders too that lose their money or being use as your liquidity if you take profit.

This will be a very bad decision if you will sell a property that generates a consistent profit in exchange for an investment that can give you risk of losing huge percentage of you capital if the market behaves against your.

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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?

Only a few who had the opportunity or capable on owning lots of lands which we know that this is something which its not cheap unless if these lands came from inheritance then it would really be
and advantage for you since you could really be able to make out decisions whether you would be keeping it or would be selling it for the sake of other income opportunities which you have done it right. Getting on 17k? thats a good point of entry which lots of people been hoping that they should have accumulate more on this period. So far i havent sell out anything that i do possess
to buy bitcoin but i do spend out some of my savings or partial of it on investing not only limited to Bitcoin but also with other coins as well we do have in the market.
It is really just that there are people who are having that opportunity and there are ones who cant do anything but to stare up into those missed opportunities.

Adams0001

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I'm not sure why you'd put Smith in such danger. The Bitcoin industry is unsuitable for those who enjoy taking risks. If you have a steady salary and some money, go ahead and invest; nevertheless, selling your land, even if you have extra, is not a good option because BTC is unpredictable; you can lose or earn. And many individuals ask me if they should quit their existing careers to pursue bitcoin. Once again, a big nooo. Because the cryptocurrency market is so volatile, you can never be certain of how much money you can make with it. In addition, I would propose keeping your existing employment and investing a portion of your earnings in cryptocurrency. It would boost your investment and your possibilities of producing more money.

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In the eyes of many, selling your property in exchange for bitcoin is always a bad move. You might not manage your investment well and end up selling your property has only gone into waste. So this is a big NO especially for those who are still new to crypto investing. However, if you have a lot of owned properties, and you’re not making any benefits at your land property especially its placed at a bad location, then maybe selling it so you can acquire bitcoin is a good idea. Bitcoin will always be a highly valuable investment especially if you invest it for long term, so you have to be very patient most particularly when the market turns red and not resort into panicking as this could only lead to wrong decision making that you might regret in the end.

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Whether it is wrong or not depends on the circumstances.
You said that you still have a lot of land and sold only part of the land to invest in bitcoin and you made double the profit when you bought at $17k.
That is a good decision when your buying time is right and you know how to trade bitcoin.

What is very dangerous is if someone does not know anything about Bitcoin trading and wants to try trading or investing using the money from the sale of his land.
But in the end all lost or suffered a lot of losses, because entering at the wrong time and not holding it.

Long-term holding is recommended for brands that are not good at trading.
But long-term holding is emotionally draining and really needs to withstand shocks before the main price target has been reached.

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Quote from: Sanitough on June 23, 2023, 03:41:17 PM

Quote from: yazher on June 23, 2023, 06:48:31 AM

It's not that wrong depends on your wealth because some other people do these things even though they don't have anything except the properties they sold to buy bitcoins. Others have multiple properties and multiple sources of income as well. With this kind of scenario, it is recommended to sell properties that are not making money for them and convert them to bitcoins, which will increase their price in the future. If I had such a choice that I could sell some of my properties to buy bitcoins, I would have done it, but I'm not rich and only can afford a small number of bitcoins after I buy everything I need from my salary.

I totally agree with you. I don’t see it a bad idea selling some properties that are not making profits at the moment. So instead of paying its tax continuously, why not take some risk selling it and buy bitcoin instead. Bitcoin will certainly give us life changing profits as long as we know how to deal with it. However, what OP does is only acceptable when you have multiple number of landed properties, but if you have one or two only, better save it for your future or for your kid’s future.

well, the good thing about the OP is he has other properties. so he is not solely relying on its income. and he is lucky, he is already in profits if he will sell his btc today as compared to his buying price. but should not be imitated by other people who has only one property under their name. even if we say, the probability of earning profit on this market is high, still, it can go sideways when you badly need your funds and the market is down.
for me, so long you know the risks, you can do what you want. it is your properties anyway. but should not blame anyone if down the road, you feel you got rekt with your decision.

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Quote from: yazher on June 23, 2023, 06:48:31 AM

It's not that wrong depends on your wealth because some other people do these things even though they don't have anything except the properties they sold to buy bitcoins. Others have multiple properties and multiple sources of income as well. With this kind of scenario, it is recommended to sell properties that are not making money for them and convert them to bitcoins, which will increase their price in the future. If I had such a choice that I could sell some of my properties to buy bitcoins, I would have done it, but I'm not rich and only can afford a small number of bitcoins after I buy everything I need from my salary.

I totally agree with you. I don’t see it a bad idea selling some properties that are not making profits at the moment. So instead of paying its tax continuously, why not take some risk selling it and buy bitcoin instead. Bitcoin will certainly give us life changing profits as long as we know how to deal with it. However, what OP does is only acceptable when you have multiple number of landed properties, but if you have one or two only, better save it for your future or for your kid’s future.

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Sometimes I doubt, confidence is a good thing but people don't understand this is overconfidence. Everyone knows Bitcoin's properties and fundamental superiorities and its future potential. We need to understand that crypto is a volatile and risky market even though Bitcoin is not as mature as real estate. Why do you think selling your properties which are the securities for your future to Buy Bitcoins to earn more isn't greed?

Let's suppose for a time that a person sold all his properties and accumulated Bitcoins from the market at a price X and now he is expecting to gain more from his investment but in some sort of urgency he is stuck and now he has no option rather than selling his precious Holdings but the market value of his accumulation is now Y and X > Y now he is in a total loss of Z is it was a good decision now tell me. Always bring that money in the market which you can afford to lose (Extra Money).

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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.

Congratulations on your profit, this was indeed a good trade. But I wouldn't sell my land to buy Bitcoin because the risk will be too much for me. I might not be able to bear the pain if the price goes contrary to my expectation. Landed properties are cherished in my area because it is scarce. You were able to take the risks because you could afford to lose the one you sold. Everybody that advised you spoke their minds and it was their views but it was up to you to make your decision. And I am glad your choice favored you. But you should also be aware that the price could have also gone down. But I like your risk-taking mentality, all the best.

Quote

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?

If seems you don't want to regain the land again. But I would have advised you to use some part of your Bitcoin holding to repurchase another land around your area. But if you can still bear the risk of keeping it till next year, it could be a good investment that will bring more profit.

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Quote from: CryptSafe on June 23, 2023, 11:17:49 AM

Although it sounds very risky but it is risky not to take risk. I believe you entered the market or possibly purchase bitcoin at the right time when it was still low.
You could have still sold the property for bitcoin even in the absence of bitcoin to start up other business at your own interests but you made a good decision and it paid you big profit so therefore, I see no wrong in selling properties for bitcoin depending their worth and value and also time of entrance into the bitcoin market.

You are right, it depends on the policy of each potential investor. I'm also not sure if one needs to sell their property to have an investment budget for bitcoin. For me it's too risky especially if they are not experienced people in this investment. In fact, many people are only tempted by the potential benefits of investing but ignore many other things, including risks. If they believe they can manage their risk well, then I don't believe they need to invest with all that budget either.

One has to be smart enough to take and consider the risks. Bitcoin investments not only come with risks because of their price volatility, but another risk they need to be aware of is losing access to their wallets or losing their coins due to hacks or something like that.

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In your case, I will say you applied wisdom. By the way, it's not wrong to sell property to invest in Bitcoin as long as you are aware of what you are going in for and accept the risk involved, but in my opinion, it's very wrong to sell all your property to invest in Bitcoin. You said you sold two acres of land while you still had more land that you kept. Yeah, having to sell everything is wrong; at least sell some and keep some. Landed properties are very valuable as well. You never could tell; some kind of development could come to the area you have lands in, and the money you will make out of it will be very huge as well. Some people will sell every piece of their property to invest in Bitcoin, and after Investing, at the end of the day, they will lose their wallet private key (LOL), misplace their key, and someone will steal everything they have labored for. Let's just be wise in our decisions. Congratulations to you if you bought your Bitcoin at $17k and are still holding it.

Cheers 🥂, Dr.Bitcoin_Strange 👺👺

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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.

congratulations on your success for getting multiple profits from Bitcoin by selling one of your land assets.

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.

if we have a lot of land assets and they have not been used then there is nothing wrong with taking the risk of selling one of them to buy Bitcoin, but we also have to be able to understand market conditions and not just sell our assets to get Bitcoin.
Bitcoin is indeed interesting and can give us multiple profits, but the land that we own actually has the potential to give us good income too if we can use the land in the right and right way.

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

Do you think I went too far selling something as valuable as lands?

I don't think it's a problem and there's nothing wrong if you already know and are willing to accept the risk. the most important thing is that we invest with a clear mind and are willing to take the risks that will be faced and don't be so greedy as to sell all the properties we own just because we've made multiple profits before.

ajiz138

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I am not brave enough to take this risk but I will continue to maintain the property that is owned even though bitcoin is more promising in a short time than property.

Because the property owned is not that much so I will not be tempted by the increase in bitcoin for the sake of selling other assets even though we know by now you have made a decent profit from buying bitcoin but that is not a decision for me because somehow the property must be maintained as an asset that is more important than anything else, let bitcoin be an installment in the DCA way that I have, even though it doesn't touch 1 BTC, at least the bitcoin is still owned and the property is never sold.

I always remember my parents' message that property should never be sold if it is not urgent for any need, therefore I will defend it.

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Quote from: goldkingcoiner on June 23, 2023, 12:36:51 PM

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?

There is absolutely nothing wrong with saving up money because you wish to buy something, neither is there anything wrong with accepting somebody's money in exchange for something. In the case of Bitcoin, I and many others consider it money already. So there is no problem. But everyone has a different moral belief system so there is no point in debating any of it in the first place...

It is even very smart of you to invest in Bitcoin, but such large amounts of money in a market which is scarily volatile is a recipe for disaster if you let your emotions buy and sell for you. I hope you know it is best to hodl.

Lands are becoming more desirable with the ever-growing population. But honestly, that seems like an investment for your great-great-great grandchildren, not for yourself.

The fruits of Bitcoin, on the other hand...

He had decided already about selling his properties for BTC. He just needs confirmation on whether it's the right choice. The problem with his situation was that he lost acres of land in exchange for BTC. Would he be able to buy back those 2 acres of land when the bull run is over?

I would certainly want it back if I were him. His family knows it's their land and he may be blamed when the land becomes valuable and needed by his family.
If he could buy back the land at slightly higher price, he could get back the 2 acres but still have some money to buy BTC in the bear market.

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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?

There is absolutely nothing wrong with saving up money because you wish to buy something, neither is there anything wrong with accepting somebody's money in exchange for something. In the case of Bitcoin, I and many others consider it money already. So there is no problem. But everyone has a different moral belief system so there is no point in debating any of it in the first place...

It is even very smart of you to invest in Bitcoin, but such large amounts of money in a market which is scarily volatile is a recipe for disaster if you let your emotions buy and sell for you. I hope you know it is best to hodl.

Lands are becoming more desirable with the ever-growing population. But honestly, that seems like an investment for your great-great-great grandchildren, not for yourself.

The fruits of Bitcoin, on the other hand...

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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?

Not wrong for people who know what they are doing. It seems you knew what you were doing considering you said you didn't sell everything to invest in Bitcoin, and also bought when the price was quite low. I would say you actually did minimize risk by making these two important conscious/unconscious decisions.
Another important thing to consider is whether you were just lucky or actually knew what you were doing. Your subsequent Bitcoin investment decisions will likely prove this. If you continue to make the right decision then it's unlikely luck.

By the way, it would be worth selling lands for Bitcoin that is held and used the right way. That's where the value really is.

CryptSafe

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Although it sounds very risky but it is risky not to take risk. I believe you entered the market or possibly purchase bitcoin at the right time when it was still low.
You could have still sold the property for bitcoin even in the absence of bitcoin to start up other business at your own interests but you made a good decision and it paid you big profit so therefore, I see no wrong in selling properties for bitcoin depending their worth and value and also time of entrance into the bitcoin market.

Topic: Do you think it's still wrong selling properties for Bitcoin? - page 6. (Read 823 times)