Topic: How do you feel selling your BTC against your plans? - page 6. (Read 1300 times)

trust me mate , you will regret that all your life as once I did this because of some personal matter that needs to be funded and that is totally against my will but have no choice back then.

if you can find way to fund your obligation to not sell your coins? better find it everything mate because this is what i did not those days.

But happy that now i am back on track and gathering my Bitcoin .

an emergency fund is very necessary and important to our life. But I still see many people proud to invest all their money in bitcoin without any emergency fund, they think it's cool to do so and brag all over the place. I think at some point they will regret their decision.

You have been wrong from the start of the investment, using the money you still need as an investment. It will only end in a loss when you are left with no money left and end up having to sell bitcoins at a fairly low price, below what you bought them for. And if you use the bank loan option as an investment it will only add to the problem, you don't even know whether the bitcoin will go back up soon or not, while bank payments must be on time along with the interest charged. Borrowing money from a bank for investment is very risky, so use money that you don't need for any purpose to make long-term investments.

I experienced that at the end of last year, a very urgent situation and I ran out of my savings, which I provided and I was very forced to sell my bitcoins, even though basically I didn't sell my bitcoins but I regretted it quite deeply because my purchase price was quite high than the selling price at that time, if only I had borrowed from the bank maybe I could pay it back when the bitcoin returned a few percent in January maybe the regret wasn't as heavy as it is until now, maybe for some people the value isn't much but for me it makes me always think when I'm daydreaming.

This is the challenge every bitcoiner come across, if not for problems we would have much Bitcoin in our wallet, but the financial challenges that comes our way shouldn't be an excuse of not accumulating much btc to hodl.

 Financial challenges will always be, therefore it is important we look for away to increase source of income by getting a side job that can help and enable us to invest bitcoin well without limitation called financial challenge.

I didn't have that experience, but I'm sure it may happen at some point, I'm just doing my best not to do that. But I think it's not as bad and devastating as some might say, it's just money. No one will die if I do that.

The actual level of urgency can be measured, for example if it's about something that threatens health or even life (either yourself or someone else's), then the market situation is no longer a major consideration for spending bitcoins.
When the benefits of money that you save for the future or unexpected things are properly realized, I think you won't really regret it.

This is the challenge every bitcoiner come across, if not for problems we would have much Bitcoin in our wallet, but the financial challenges that comes our way shouldn't be an excuse of not accumulating much btc to hodl.

 Financial challenges will always be, therefore it is important we look for away to increase source of income by getting a side job that can help and enable us to invest bitcoin well without limitation called financial challenge.

I have come across such a situation severely and this is the worst moment and decision for any Bitcoin holder, but then we know why we keep bitcoin since Bitcoin become our alternative to fiat.

-worst case scenario is when you sell way below the price you bought it, but one of the best thing to do is to build an alternative sources of income that could support you through those bad times, so that your Bitcoin will not become the only source.

That is why cryptocurrency investment is not the prime goal of my fiat expenses. I would rather make a money pillow in fiat, then spend funds on investment, that I might need to sell quickly in case of urgent need. If I invest, that is something untouchable. It will be the last source of funds I would use. That is what long term investment in Bitcoin is for me. Specially during current unstable market and often price drops. I would rather take a loan and return slightly more, than, for example, today sell Bitcoin I've bought at the price of $40k. The loss would be greatly less.

I would be surprised if someone would feel positive when something goes against regards his plans. Of course a person would feel bad if he is forced to sell his holdings before the price hits the amount he has set as a goal. Such urgent trades never goes good, as people not only sell at a lowest price, but also lose quite a hefty amount on commissions, because they dont have time to search for best offer on the market.

Gladly I was never in a situation like OP described. Mostly because of money pillow and money management. The money I invest in crypto I count as already spent money, so I never turn to them as an emergency funds. There is only one reason that can force me to turn to crypto funds and sell them - my or my family members health issues.

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?

That is certainly the most scenario we have to face, force to sell our coins because we have no other choices left. Yes, it’s always a bad feeling while doing that but if you will also be reminded why are you doing that, you might also feel some relief. We save bitcoin so we can have something to use in the future, and for some instances, that future might be now as selling could only resolve the current problem situation.

~snip~
 how was it like?