Topic: How do you feel selling your BTC against your plans? (Read 1300 times)

I agree with you on the basis on which you stand. Your view on this is someworth it mate. Most people do not just save for saving sake, they do that so they can be able to meet up with their future plans such as buying of dream cars, house etc. When it comes to emergency, I think it is not a thing of wether the available funds are for savings or not be the emergency a life threatening or otherwise such funds should be at disposal to sort things out that moment. People tend to get this mixed up and I wonder why they save if they think savings are not for emergency when ever the need arises. To the best of my knowledge, I think it is basically for emergencies hence the savings.
There is nothing wrong in having multiple savings option but atleast one of them should be able to cater for such emergency when the needs arises just like  occurrence.

Not only for emergency why we save money, but also were saving for the things that we want in life like our dream houses or car. From my experience, I invest and save my money in bitcoin from my extra money for a long time of course I know the volatile situation of bitcoin but having a reserved token is my way of savings. Of course my purpose is to save a lot for wanting to have my dream car. But along the way my friend needed some funds for his bills and his son's birthday is coming up so he asked for help for money. Me as a good friend I'd sell my bitcoin since I don't have any cash on hand and transferred some money to his account. You know a lot would feel like they've lost something they own but for me, it really feels good to help I was there in his son birthday and I really enjoyed it he said "thank you man I couldn't do this without your help" I don't ask for return but he really said if I need his help he's one call away. Our relationship as a friend strengthen we were friends like 6 years since high school.


Exactly, you meant to spend your money because you'll not save until the day you die. You can't bring your assets in the after life so enjoy a little spend some money. Doesn't mean to spend all of it, secure some for the future and the extra money why not treat yourself.

This!

We should think back on the main reason on why we had been saving up? which is that there's something we could use on the time that we are in need or emergency and thats why its not really that something that you should really be stressing up yourself just because you had spend up the coins you've been saving up specially Bitcoin but to think back that it was the main sole purpose on why we have done this.
Its not really just that right that you do have those regrets on selling it early because it was really meant for that condition on why you are saving up on the first place.

I think the whole essence of having or saving money is for the fact that we are actually going to use them someday but how the money is used is really important as some folks actually temper with their saving for matter of less important, for me I don't feel any regret and won't mind dipping into my investment if the needs be especially when its very vital and a matter of emergency. And one thing is that known is that nobody actually save money to for unprecedented accidents as no one plans for emergency to meet them but the fact still remains that we can't escape them and when its comes let it be that we do everything we can to tackle it even if selling your save coins to solve the issue.

True. You will never think anymore about losing or gaining in the future once there are emergency cases suddenly happen. You will only think on that moment on how to survive, and if it’s selling your coins would be the only option, then never hesitate to sell. Though the feelings to sell when it is against your plans is somewhat disappointing or devastating, but what is most important here is you can help to save someone out of danger, and when that happens, you will never regret as long as you do the right thing.

This you have said OP made me to remember the sayings that says" do to others what you want others to do unto you"   doing good sometimes pay in one way or another. I have had this experience back then my secondary school days when I helped some one who was sick. I bought food and water for the junior student then and I passed out from the school. Later on I met the guy along the road he saw me while driving by and he horned at me I had forgotten that incidence years past and also I could not recognized his face. He stopped and greeted me and asked if I could remember him to be honest I could not because it was an incidence that occurred long ago. He reminded me about it and thanked me for my kind gesture we exchanged contact to my greatest he invited me a certain time I turned it down, the second I was out of town and the third I decided to honor it I had no idea what the meeting was all about to my greatest surprise unknown to me that I was going for a round table business discussion which he wanted me to handle and that's was the second contract I had done so far after my school and it was a good one to talk about.

Correct. sometimes even though we already have careful planning, we even have prepared a reserve fund to deal with unexpected situations. it turns out that it doesn't necessarily keep us safe, we can avoid selling the bitcoins that we have, initially for long-term investments. sometimes helping someone who is in need of help must be prioritized. i have experienced this. and even though it is very unfortunate but we still feel satisfied because we have been able to help someone. which keeps us able to maintain a sense of humanity that still cares for each other. yeah it hurts a bit. but that's life that can indeed come out of a plan that has been made carefully.

but in the past I helped someone who was in trouble and I even forgot when that happened. but one day I was given a big enough gift that I didn't expect. even though I didn't expect that. even the prize exceeds the money I gave at that time. I had refused the gift. but he persisted and in the end I accepted. the point is if we do good to someone then the kindness will come back to us someday even though we don't expect it.

It is quite understable that many things happen and most of the happenings takes us unawares. I am of the opinion that no matter what happens, one must have a spare or emergency funds for rescue.

Just like OP had said, it took OP off balance because from what I understood, not that OP does not have funds but it looks like OP has spent some funds in cash as I may understand may not too long to that event i guess and from what OP had said in previous comment that there are other investment available to get funds from but the time interval it would take will involve process and procedures which does not go well so OP had to resolve by selling the available bitcoin in asset to sort things out and I was made to understand that OP had a pending credit alert which could replace the sold bitcoin.

This should not be a thing of regret as bitcoin is money and can serve any purpose as long as you have it available for use. That was the sole purpose for which Satoshi developed the bitcoin. OP, you should know that so you did a well and have nothing to regret about but it would be good you have replaced it as you have said.

what Wakate said is absolutely true, there are still many people who have nothing to just survive today. We must be grateful because we are still among those who have investment assets that can be sold and relied on so that we can survive in difficult circumstances.
if we sell our Bitcoin not for our original investment purpose it is very painful because there must be a struggle that we do when collecting it.
but at least you should also be grateful because Bitcoin has saved you during that difficult time and never regret the decision that has been taken to survive.

I hope that in the future you will not only focus on investing in Bictoin, from existing events you should also rethink setting aside your money for emergencies so you don't sell your Bitcoin assets again.
this incident is an important reminder for all of us to be better and wiser in managing our income and expenses.

It's true that it's better for our emergency problem to be resolved than for us to bear debt that will burden us later.
If indeed the only way to cover or solve the emergency problem we are experiencing is to sell our Bitcoin, then it's okay that this is a risk that must be taken because this is indeed a way of survival. Sometimes to survive we have to feel the bitterness to sell something that is valuable to us.
This is why we really have to be able to manage our money wisely and not be greedy to invest everything to avoid unwanted things. It is very important to be able to divide the money from our income to meet our daily needs, for saving, for investment and for emergency funds.

In the past, I have read so many stories about people selling tens (hundreds, thousands) of bitcoins to cover their running costs.  

Then some time passed, the price of Bitcoin increased tenfold, and these people felt a burning disappointment that they had spent so much of the first cryptocurrency.  Unfortunately, we live in a harsh real world.  Sometimes we urgently need fiat money.  So we sell our satoshi knowing full well that we could sell our bitcoins for much more in the future.  

If you are earning satoshi, then it is usually profitable for you to sell your bitcoins when bitcoin reaches its maximum price.  

And buying Bitcoin is better in a bear market, when the price of Bitcoin (expressed in US dollars) is at its lowest.

But it makes no sense to engage in reflection, in life not everything always happens the way we want.

Maybe because you weren't prepared and investing everything in bitcoin. We all know that bitcoin is a risky investment and we shouldn't invest all of our money in it because the market is volatile and we could easily lose those funds. So invest only a small amount and then always have emergency funds or a liquid fund that you could cashout for cash. I understand your situation and it happened to me as well in the end, I regret it because I could have earned a bigger profit on the last bull run. The decision will still depend on you if you think that it is more important than bitcoin then you should just sell your bitcoin and pay what you need to pay. But if you can do ways or have an alternative to pay for it you should just do it.

very sick, but that's my goal of saving in btc I can use it anytime even though I have a loss when selling it but it's better for me to sell my assets, than for me to hold my assets and then I owe it to cover my emergency needs.
no no that's not my type to  debt

Honestly, it's an uncomfortable and quite painful feeling to recall, even though selling bitcoin solved a big problem. Regrets are inevitable, but if using bitcoin to save a person or for emergencies is more important than our investment, it's well worth it. I also sold all of my portfolios to deal with important work, every time I think about it, I still feel sorry, but compared to what I received in return, I am satisfied with it all. Life doesn't always go as smoothly as we would like and we need to face it.

You are correct mate, there are many out there that in one way or the other are facing challenges but have nothing to turn to for rescue. I first felt some chills running down my spine at the first instance I read this comment of yours. This made me remember my early beginning where I used to have nothing which if it happens to be now I could not have had anything to do than to go borrowing or give it up but with the bitcoin I had  I was able to do something with immediate effect and I was happy it was very fast and me need in getting the funds were met immediately before the pending alert I was waiting for came in. I was as well thinking if I had no savings or investment of that nature what would I have done as I do not fancy loan and money lenders. After this thought came over me, I decided to be saving as little as I can I fractions added to the one I already have as bitcoin price is very low at the good buy order. I choose to do this with every spare cash in my possession so as not to lavish it in any way and I made a decision to stick to it till I get a reasonable number of bitcoin.

Selling our property against our wish can be very painful and I know how it felt. If you sell your Bitcoin because you have some issues so settle then it is better than not having anything to look to for your problem to be solved. There are some persons that do not even have money or investment they can rely on to settle there issues. Problems come everyday and we must be prepared to make some savings down so when we have problem, we can easily to there and get some funds to resolve the issue. Op is very lucky to have something he can rely on which is not as bad as he thinks.

At least by investing we must have a reserve fund to start with so it won't interfere with what has been invested so far in bitcoin so we have everything ready when the market is bearish or bullish.

Market sentiment has quite an effect on our mentality so we have to get used to not panicking too much when the market turns red, because this is only temporary, so strengthen your mentality for long-term investment with some good planning.

I always manage everything, including cash flow and expenses every month so that I can balance the funds needed and also the funds that must be entered in bitcoin, all must have good financial management.

That is unless that person just committed his whole savings to crypto. For me, I would not feel bad at all since I really need it anyway. It's a "now or never" situation that I would be in, I can imagine. Back in the times when pandemic was like really affecting our daily lives really bad, I was just keeping on holding Bitcoin until there was a time that I really need to travel to the farther north of my city and it seems like my budget was quite tight due to how transportation during that time was like soaring high. It's kinda expected since there would be reduced amounts of passengers and that might require every drivers out there to up their price so that they can still make up with the price of the gasoline and maintenance even with reduced passenger capacity.

I can understand the frustration and disappointment you felt when having to sell your Bitcoin during a market downturn, especially if you had planned on holding it for the long term. However, it's important to remember that emergencies can happen, and sometimes we have to make difficult decisions to take care of ourselves and our loved ones.

If you find yourself needing to sell Bitcoin again in the future, one way to help mitigate the impact of market downturns is by hedging your position with futures contracts. This allows you to lock in profits on your existing holdings while still maintaining exposure to the market. You could consider researching and learning more about how futures contracts work and how they could benefit your investment strategy.

Another way to help minimize the emotional impact of market downturns is by having a clear investment plan and sticking to it. This means deciding on how much Bitcoin to hold, when to sell or buy more, and what your overall financial goals are. By having a plan in place, you can make more rational decisions based on your long-term strategy, rather than reacting emotionally to short-term market movements.

Lastly, remember that investing in Bitcoin is a long-term game. While it can be disheartening to see the value of your holdings decrease during a market downturn, Bitcoin has historically shown resilience and recovery after such downturns. By taking a long-term perspective and staying committed to your investment strategy, you can help minimize the impact of market fluctuations and position yourself for success in the future.