How do you feel selling your BTC against your plans? - page 2.

Jody.Drummer

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Quote from: Queentoshi on March 17, 2023, 11:49:54 AM

Quote from: Uruhara on March 17, 2023, 08:28:28 AM

If we invest for the long term, we must mentally prepare ourselves so that we are not affected by market sentiment, which sometimes makes us FOMO.

I think it will be more painful for a person who has consistently been investing in bitcoins over a period of time to suddenly have no option than to sell off without achieving or meeting up with the plans that they have set. The bitcoins you have were definitely not easy to gather and it required a lot of discipline and sacrifices, It will be painful to sell. Before I will sell my bitcoins I have to be sure that I have tried and exhausted all other means to get money first, my first option to get emergency funds will not be to sell off my bitcoins.

Of course selling bitcoins when we really don't want to sell them is a very painful thing, moreover, if at the time we are forced to do so the market is down, it will be twice as painful. I always do this, namely saving and investing bitcoin, yes I do both so that if one day I have an emergency I still have savings so I at least don't touch the bitcoin that I had at that time. Indeed, it will be more complicated if we save and invest too, at first it was also quite difficult for me to share the right percentage, but over time I began to get used to it.
And one more thing I agree with you, I will look for other options before selling bitcoin, I will place it as the last option.

Queentoshi

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Quote from: Uruhara on March 17, 2023, 08:28:28 AM

If we invest for the long term, we must mentally prepare ourselves so that we are not affected by market sentiment, which sometimes makes us FOMO.

I think it will be more painful for a person who has consistently been investing in bitcoins over a period of time to suddenly have no option than to sell off without achieving or meeting up with the plans that they have set. The bitcoins you have were definitely not easy to gather and it required a lot of discipline and sacrifices, It will be painful to sell. Before I will sell my bitcoins I have to be sure that I have tried and exhausted all other means to get money first, my first option to get emergency funds will not be to sell off my bitcoins.

touseefahmad1999

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If your original plan was to hold onto your Bitcoin for the long-term and you are considering selling it now, it's important to carefully evaluate the reasons behind your decision and consider the potential consequences. Selling Bitcoin prematurely could result in missing out on potential gains if the price continues to rise in the future.

On the other hand, if there are significant changes in the market or your personal financial situation that necessitate selling your Bitcoin, it may be a wise decision to do so.

Ultimately, the decision to buy or sell Bitcoin should be based on careful consideration of your own goals, risk tolerance, and market conditions

Mr.sprin

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Quote from: CryptSafe on March 06, 2023, 08:39:26 PM

A thought came over me while spending my BTC. Although I was wondering if members have had that experience and too how others would feel about it hence this topic. Now here was what happened. I had an emergency which requires an urgent attention and it involves funds. I had no option than to get the funds immediately as the payment I was expecting has no yet been credited to my account I had no option at that moment than to fall back to my bitcoin and what touched me most was that the market was red and It was obvious I had to sell to sort out the urgency at hand. While doing that, there was this feelings I had then as a result of the red market as at the time I was doing the transaction . I was just having that thought over me then and wishing the market could just boom immediately so I could only release just a small fraction of my BTC to sort out things then and another was that I could just receive my much awaited alert so I could stop the BTC transaction immediately. You know that feelings that comes when you want to do something you really do not have plans doing immediately maybe you have plans for it in the future and all of a suden an emergency comes up which would force you to do the needful. I had that feelings and it was real and really devastating at that very moment.
If you have had such experience, how was it like?

I've been in a situation like that I've held bitcoin and my plan is that I will make it an asset in the long term and suddenly there is a very urgent situation and I let go of bitcoin to get through a very complicated situation, right now I see the price of bitcoin going up and I don't regret it what I did at that time.

Uruhara

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Quote from: Rupok on March 17, 2023, 07:52:06 AM

Everyone has faced this situation with Bitcoin. I bought it in a bull market and had to sell it in a dump market.I feel it all the time So now I don't sell all amount in bitcoins, I keep a small number of bitcoins.Because to me all fund investment seems risky so also try to find other sources where there is no risk.Sometimes seeing a red market forces you to sell. But when we see a green market it encourages us.So we should not think of spending all our funds based on urgency, because then the chances of loss are high.

If we invest for the long term, we must mentally prepare ourselves so that we are not affected by market sentiment, which sometimes makes us FOMO.

but sometimes there are situations where we cannot maintain our long term investment. such as needing urgent funds is an example. and that of course feels very annoying.

xSkylarx

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Quote from: CryptSafe on March 17, 2023, 07:20:54 AM

Quote from: lienfaye on March 17, 2023, 05:19:13 AM

Quote from: CryptSafe on March 06, 2023, 08:39:26 PM

If you have had such experience, how was it like?

It really doesn't feel good to sell against your will because certainly you'll regret it when the time comes the market turn bullish already. However, it happened because of urgency and you just don't have a choice, the good side of it is Bitcoin saves you in times of emergency and that's a good thing. When there seem no hope and you don't have anyone to count on, Bitcoin is just there.

I also experienced the same thing and just like you it's not what I really want to do. But the situation left me with no choice so I had to sell even it's not a good time. What I keep in mind is, I overcome a situation with the help of my Bitcoin so it's not really bad. There's still a time to accumulate because the word too late is not applicable if you're a long term hodler.

I am a long time hodler of bitcoin but I have come to realize after the incidence of the emergency that needed my urgent attention that bitcoin can save in times of need. It is an alternative currency which speaks of it value and flexibility. After that incidence, I felt some chills right inside of me and I was wondering if I had not had any bitcoin savings at that moment how could I have done it not to talk of me not finding it funny seeking for a loan or Money lender for a backup. Although there are lots of other sources I could have gotten Money back from my other investments but the time and procedure
involved in processing the funds would have taken me much time which is not the type of response I needed as at that time but my bitcoin did not waste me time to convert into cash within a short time interval as I desired it to be In my account as fast as it can. What I am trying to say is that bitcoin as it is has no third party approval under your custody and it is very fast at your convenient and disposal to convert from any part of the world into any out put you want it.

It can really saved lives! Bitcoin is a double purpose for those investors because some will mostly used it as an investment to gain profit by holding it in longer period of time but also it act as an savings or emergency savings because in that span of time for sure you need it , you some sort of money which you have in your investment you need to sell it to act on those emergency though it doesn't goes as plan but still you've solve one of biggest problems in your life.

Rupok

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Everyone has faced this situation with Bitcoin. I bought it in a bull market and had to sell it in a dump market.I feel it all the time So now I don't sell all amount in bitcoins, I keep a small number of bitcoins.Because to me all fund investment seems risky so also try to find other sources where there is no risk.Sometimes seeing a red market forces you to sell. But when we see a green market it encourages us.So we should not think of spending all our funds based on urgency, because then the chances of loss are high.

CryptSafe

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Quote from: lienfaye on March 17, 2023, 05:19:13 AM

Quote from: CryptSafe on March 06, 2023, 08:39:26 PM

If you have had such experience, how was it like?

It really doesn't feel good to sell against your will because certainly you'll regret it when the time comes the market turn bullish already. However, it happened because of urgency and you just don't have a choice, the good side of it is Bitcoin saves you in times of emergency and that's a good thing. When there seem no hope and you don't have anyone to count on, Bitcoin is just there.

I also experienced the same thing and just like you it's not what I really want to do. But the situation left me with no choice so I had to sell even it's not a good time. What I keep in mind is, I overcome a situation with the help of my Bitcoin so it's not really bad. There's still a time to accumulate because the word too late is not applicable if you're a long term hodler.

I am a long time hodler of bitcoin but I have come to realize after the incidence of the emergency that needed my urgent attention that bitcoin can save in times of need. It is an alternative currency which speaks of it value and flexibility. After that incidence, I felt some chills right inside of me and I was wondering if I had not had any bitcoin savings at that moment how could I have done it not to talk of me not finding it funny seeking for a loan or Money lender for a backup. Although there are lots of other sources I could have gotten Money back from my other investments but the time and procedure
involved in processing the funds would have taken me much time which is not the type of response I needed as at that time but my bitcoin did not waste me time to convert into cash within a short time interval as I desired it to be In my account as fast as it can. What I am trying to say is that bitcoin as it is has no third party approval under your custody and it is very fast at your convenient and disposal to convert from any part of the world into any out put you want it.

lienfaye

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Quote from: CryptSafe on March 06, 2023, 08:39:26 PM

If you have had such experience, how was it like?

It really doesn't feel good to sell against your will because certainly you'll regret it when the time comes the market turn bullish already. However, it happened because of urgency and you just don't have a choice, the good side of it is Bitcoin saves you in times of emergency and that's a good thing. When there seem no hope and you don't have anyone to count on, Bitcoin is just there.

I also experienced the same thing and just like you it's not what I really want to do. But the situation left me with no choice so I had to sell even it's not a good time. What I keep in mind is, I overcome a situation with the help of my Bitcoin so it's not really bad. There's still a time to accumulate because the word too late is not applicable if you're a long term hodler.

Cookdata

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I don't feel anything aside from being helpless when no one could help except myself, of what use is holding bitcoin when life is at stake? I once had a fever and to be honest, sometimes sickness is the least thing we do put in the plan, I didn't expect it that time and then I went for a test and I had to tackle it before it becomes worse. I had to sell part of the bitcoin I hold in my wallet to get myself back because I have noticed that it is when you have an emergency you find it difficult to find a helping hand and I can't risk my life over investment I can catch up anytime. I doubt if I will be able to catch up with bitcoin when I die, so don't feel remorseful about taking care of an emergency with bitcoin you had when you have no one to help you out.

kelechi

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I guess I have a good portfolio now on Ownr wallet but I have some space to sell it

Quidat

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Quote from: AverageGlabella on March 16, 2023, 08:14:43 AM

Quote from: buwaytress on March 14, 2023, 02:18:15 PM

I did that not too long ago (end of 2020). Probably mentioned it a couple of times since.

This was almost a full year before the eventual ATH -- I couldn't have known it at the time, but Bitcoin approaching 2017 ATH was already a huge signal of intent and for me a sure marker for a rally.

But circumstances required the cash, and I really didn't have a choice. So I sold most of what I'd built up over the years, with a twinge of regret, but still pleased that overall, I'd come into cash I couldn't otherwise have had saving in fiat.

DCA continued since, so I'm probably even "underwater" at these prices, as we're barely at $25k but I'm confident I'd still have saved up enough to have more on my next liquidation, than if I chose to keep in fiat.

You still profit when you have been holding it for many years so I do not think you should regret it too much. No one knows how much Bitcoin will be and there is a risk to holding all your money in Bitcoin because it could fail. We have seen countries ban Bitcoin in the past and they still ban it from being used but other countries have decided to allow it but ban Bitcoin mining. I think we will see more laws in the future about Bitcoin and as long as it is not banned outright I am happy about it because it will allow more people to use Bitcoin instead of banks. Bitcoin will probably reach its price limit in the next decade and hopefully become stable for businesses to adopt it.

This is what you should bare up on your mind that despite of those spendings you could eventually still able to get those expenses back specially if the price had risen up on upcoming years to come.
Take note that you could still able to patch it up on what you had drawn out and thats the beauty of this investment which you could hold for long term.it is really just that there are people who
do really strictly stick into their targets and goals in life but we know that there are instances and situations which we cant really be able to avoid and ending up on
spending some part of our holdings.

GiftedMAN

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Quote from: CryptSafe on March 06, 2023, 08:39:26 PM

A thought came over me while spending my BTC. Although I was wondering if members have had that experience and too how others would feel about it hence this topic. Now here was what happened. I had an emergency which requires an urgent attention and it involves funds. I had no option than to get the funds immediately as the payment I was expecting has no yet been credited to my account I had no option at that moment than to fall back to my bitcoin and what touched me most was that the market was red and It was obvious I had to sell to sort out the urgency at hand. While doing that, there was this feelings I had then as a result of the red market as at the time I was doing the transaction . I was just having that thought over me then and wishing the market could just boom immediately so I could only release just a small fraction of my BTC to sort out things then and another was that I could just receive my much awaited alert so I could stop the BTC transaction immediately. You know that feelings that comes when you want to do something you really do not have plans doing immediately maybe you have plans for it in the future and all of a sudden an emergency comes up which would force you to do the needful. I had that feelings and it was real and really devastating at that very moment.
If you have had such experience, how was it like?

I feel total absurd and very sad and it gets me annoyed and nevertheless I have to sell down my own money against my plans and that sucks a lot and that's why we can't do anything against the market. So main thing is that we have to be a little more cautious and in this way we will be able to save.

There are different condition or circumstances that can make us to sell our Bitcoin and because of that we should not see it a regret because it might affect us in a long way emotionally if we don't handle it with care. Bitcoin is an investment which is why many persons had been holding it and waiting for when it will add more value before the sell there holdings.

There are big opportunity in the cryptocurrency market so we need to be prepared and observe the market well so we can be a benefactor too. I have sold some of my Bitcoin before against my wish and I could remember how I felt.

AverageGlabella

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Quote from: buwaytress on March 14, 2023, 02:18:15 PM

I did that not too long ago (end of 2020). Probably mentioned it a couple of times since.

This was almost a full year before the eventual ATH -- I couldn't have known it at the time, but Bitcoin approaching 2017 ATH was already a huge signal of intent and for me a sure marker for a rally.

But circumstances required the cash, and I really didn't have a choice. So I sold most of what I'd built up over the years, with a twinge of regret, but still pleased that overall, I'd come into cash I couldn't otherwise have had saving in fiat.

DCA continued since, so I'm probably even "underwater" at these prices, as we're barely at $25k but I'm confident I'd still have saved up enough to have more on my next liquidation, than if I chose to keep in fiat.

You still profit when you have been holding it for many years so I do not think you should regret it too much. No one knows how much Bitcoin will be and there is a risk to holding all your money in Bitcoin because it could fail. We have seen countries ban Bitcoin in the past and they still ban it from being used but other countries have decided to allow it but ban Bitcoin mining. I think we will see more laws in the future about Bitcoin and as long as it is not banned outright I am happy about it because it will allow more people to use Bitcoin instead of banks. Bitcoin will probably reach its price limit in the next decade and hopefully become stable for businesses to adopt it.

CryptSafe

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Quote from: Uruhara on March 14, 2023, 04:11:36 PM

Quote from: tjtonmoy on March 13, 2023, 02:44:07 PM

What done is done! You can't reverse that, and you still have the opportunity to make it back. Why not DCA in order to make some profit while taking advantage of this market situation?
It was an emergency and Bitcoin has saved you. So it's a good thing. Just think that if you didn't have that in your wallet, what could have happened. Bitcoin saves the day. That's all that matters. You can earn them back, but can't get your life back twice. Don't hold any regret in life and as many have already suggested, have another savings for situations like this. Hopefully you won't have to go through this kinda situation.

I agree with you. because somehow OP's bitcoin stash has turned into an emergency Fund which has been used in emergency situations. and that has been a good thing. however he can still buy Bitcoin back when there is more money. and doing DCA again might be an accumulation method for OP. but the next lesson for OP is to have to prepare another emergency fund besides bitcoin stash for any unforeseen situation that could happen again at a later date.

If I may ask you a question, have you been in a situation where by consecutively you have been on a constant debiting in the sense that funds are being used for some purpose which is best known to you alone and all of a suden the unexpected happens where you would need to be up intime to respond to that urgency? Not that you do not have cash but the cash in question was used for other purpose up to the point of you using your emergency funds for back up. What I am trying to say is that you can never predict oe tell what would happen the next minute and that has made me double up my bitcoin savings because it taught me a whole lesson and I was happy I got to understand the reason bitcoin is really money in digital form. It was of good importance as I was able to use it that time when I had the emergency which requires expedite actions.

Uruhara

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Quote from: tjtonmoy on March 13, 2023, 02:44:07 PM

What done is done! You can't reverse that, and you still have the opportunity to make it back. Why not DCA in order to make some profit while taking advantage of this market situation?
It was an emergency and Bitcoin has saved you. So it's a good thing. Just think that if you didn't have that in your wallet, what could have happened. Bitcoin saves the day. That's all that matters. You can earn them back, but can't get your life back twice. Don't hold any regret in life and as many have already suggested, have another savings for situations like this. Hopefully you won't have to go through this kinda situation.

I agree with you. because somehow OP's bitcoin stash has turned into an emergency Fund which has been used in emergency situations. and that has been a good thing. however he can still buy Bitcoin back when there is more money. and doing DCA again might be an accumulation method for OP. but the next lesson for OP is to have to prepare another emergency fund besides bitcoin stash for any unforeseen situation that could happen again at a later date.

buwaytress

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I did that not too long ago (end of 2020). Probably mentioned it a couple of times since.

This was almost a full year before the eventual ATH -- I couldn't have known it at the time, but Bitcoin approaching 2017 ATH was already a huge signal of intent and for me a sure marker for a rally.

But circumstances required the cash, and I really didn't have a choice. So I sold most of what I'd built up over the years, with a twinge of regret, but still pleased that overall, I'd come into cash I couldn't otherwise have had saving in fiat.

DCA continued since, so I'm probably even "underwater" at these prices, as we're barely at $25k but I'm confident I'd still have saved up enough to have more on my next liquidation, than if I chose to keep in fiat.

ZAINmalik75

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Quote from: buruibu on March 13, 2023, 06:55:45 PM

Selling any token at loss or before it moons or even against plans is a painful situation. But then when you have an important need and there is nothing else to do or where to get funds but you hold a token, its just best you sell off and solve your problem because you can't have hope somewhere and still be hopeless.

I am also having same feeling as I have done this once which was surely one of the saddest moment for them because there was no way for having money, so I have to sell my bitcoin which was in my wallet for the long time and I have bought them at high price, but I sell them on low price which was also against my wishes and plans.

But It's life, and we have to go ahead which is surely usual thing, but now I am doing better strategy for this all which is currently but how things will be in near future I have to wait for this all because situation in my country is currently not good, and we are facing big troubles which are surely creating mess-up but if we are able to survive then surely I will try my best to keep these coins for long term but if things gone in wrong way then surely I have to do this second time in my life.

kelechi

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I felt so terrible when sold my btc from Ownr wallet during drop to 19k, couldn't hear about crypto anymore

CryptSafe

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Quote from: Obari on March 13, 2023, 06:48:53 PM

Quote from: n0ne on March 13, 2023, 06:37:40 PM

Based on the urgency we should not think of spending. I've encountered similar situations and most of them were medical bills. In such situation we can't take any other decision. We can try other choices available, and mostly things won't work in emergency situation. Somehow we need to handle the situation with what is available with us.

Emergency funds are must with everyone's savings. I saw in a thread where an user got an opportunity to pay his wife's medical bill for pregnancy with bitcoin. He hadn't discussed about the market, but he found the direct paying access a better thing. So, at need we need to feel happy with the fund than the market.

Quote from: naira on March 07, 2023, 08:55:18 AM

Quote from: CryptSafe on March 06, 2023, 08:39:26 PM

If you have had such experience, how was it like?

It can't be helped because necessity drives us to take anything that can have a sale value. It's not just Bitcoin that is a valuable item and when it's urgent to have money right away it will definitely be done. What you experienced, must have happened to anyone who has no other financial flow besides holding Bitcoin. I did the same because there really was no other way but to sell some of my Bitcoin holdings. But with the condition that if in the future I have more money then whatever Bitcoin has been taken will be patched back.

I love your point @naira but I'm glad someone already got the right concept of saving.
Most times people think Bitcoin is the only way to financial freedom and I just wonder why they think I'm such directions because I believe there was time Bitcoin never existed and we still millionaires and billionaires and ever since the inception of Bitcoin, I've also seen people grow financially stable and I've also seen people get so broke through investing in Bitcoin.
Bitcoin is a digital currency and hoping to be globally accepted as a legal tender as there are already countries who accept it as a legal tender, with this been said, cryptocurrency is a very volatile digital asset that has the ability to rise in value or drop drastically I'm value as well making nothing guaranteed.
There is nothing actually wrong with selling Bitcoin and no one actually feels happy selling their possessions against odds and Bitcoin isn't exempted bit I think the concept of saving is to have something to fall back to when there is an emergency without having to bother someone else.
Know this and you wouldn't have to feel bad when selling your assets.

Hey mate. You did Justice to your explanations. Bitcoin is money but people still do not understand it and that is the sole reason for Satoshi developing the bitcoin but the early adopters of bitcoin that sold out to whales under panic were the cause of these investment mentality hence they turned bitcoin into an investment rather than sticking to the original plan for which it was developed. Since then, they have built that mentality of bitcoin being an investment which has been passed down to the new bies onboard the system which against the initial plan for Which bitcoin was developed. Another is the selling of bitcoin to settle urgent need which is not bad as that was one of the reasons to bitcoin is recognized as a legal tender. I see no reason why one should be regretting if they sold their bitcoin to sort out an emergency which needed urgent attention. If you have bitcoin at your disposal to sort things out when other options are not available why not do the needful? That is why you have the bitcoin.
It is time we start seeing bitcoin as a digital legal tender than just mere investment to make profit.

Topic: How do you feel selling your BTC against your plans? - page 2. (Read 1300 times)