I sell motorbikes to buy bitcoins - page 4.

Dickiy

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Quote from: Kaliandra on January 07, 2023, 07:08:03 AM

I have 2 motorbikes at home, but what I always use is only 1 motorbike, and 1 motorbike is rarely used, and indeed the motorbike is also old, and if it is sold it won't be too expensive, and I decided to sell the motorbike, because in my opinion the price of the motorbike will definitely fall over time,
(affected by inflation). and the money from the sale of the motorbike I will use to buy bitcoin. because in my opinion the price of bitcoin in the future will definitely rise. and also currently the market is bear, so this is a good opportunity to buy bitcoins. and I want to ask everyone, the decision I made, namely selling the motorbike and the money to buy bitcoin, is it wrong or not?

I'm ready to be corrected because I have no experience in bitcoin and crypto.

Selling items that are no longer in use and still have enough price, I think the right decision is to sell them and reduce the burden on maintaining the motorbike.
My opinion about how you use the money from selling the motorbike to invest in bitcoin I think is very appropriate, which maybe you will get the same value later as you buy the motorbike in the following year.
It's up to you if you want to buy directly with full money or buy it with the DCA strategy, you have to be strong in does not selling it and I remind you to keep your Bitcoin in a safe place.

I think it will be the wrong decision if you sell your motorbike to gamble. Grin

Hyphen(-)

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Quote from: Kaliandra on January 07, 2023, 07:08:03 AM

I have 2 motorbikes at home, but what I always use is only 1 motorbike, and 1 motorbike is rarely used, and indeed the motorbike is also old, and if it is sold it won't be too expensive, and I decided to sell the motorbike, because in my opinion the price of the motorbike will definitely fall over time,
(affected by inflation). and the money from the sale of the motorbike I will use to buy bitcoin. because in my opinion the price of bitcoin in the future will definitely rise. and also currently the market is bear, so this is a good opportunity to buy bitcoins. and I want to ask everyone, the decision I made, namely selling the motorbike and the money to buy bitcoin, is it wrong or not?

I'm ready to be corrected because I have no experience in bitcoin and crypto.

OP your decision is not bad, it is a good idea as you are trying to become a Bitcoin investor especially as the price is down now.

The question here is, did you have enough knowledge about Bitcoin?

If you don't know enough about Bitcoin, the best thing to do is to start learning the basics about Bitcoin, how to store your Bitcoin, and the safest wallet to store your Bitcoin; this will really help you and minimize the risk of losing your Bitcoin due to ignorance or lack of knowledge.

Tony116

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Quote from: hZti on January 12, 2023, 06:32:21 AM

Quote from: Cookdata on January 12, 2023, 04:54:11 AM

Quote from: Kaliandra on January 07, 2023, 07:08:03 AM

I have 2 motorbikes at home, but what I always use is only 1 motorbike, and 1 motorbike is rarely used, and indeed the motorbike is also old, and if it is sold it won't be too expensive, and I decided to sell the motorbike, because in my opinion the price of the motorbike will definitely fall over time,
(affected by inflation). and the money from the sale of the motorbike I will use to buy bitcoin. because in my opinion the price of bitcoin in the future will definitely rise. and also currently the market is bear, so this is a good opportunity to buy bitcoins. and I want to ask everyone, the decision I made, namely selling the motorbike and the money to buy bitcoin, is it wrong or not?

I'm ready to be corrected because I have no experience in bitcoin and crypto.

Well, that depends on where you live because if you use your local currency, it's possible that you won't be able to buy very much bitcoin when you convert it to US dollars, with the exception of if your motorcycle is the special kind called a power bike which I can consider that to give you a fair Satoshi that you can hold when you sell it.

Motorcycle unlike some special cars that you can auction out in the future, they are liabilities, you will continue to spend on maintenance fee and check it up even if you don't use them and doesn't still mean you will be able to sell them at the purchased price. It's better you convert it back to assets that you can see appreciate tomorrow.

Yes, even though his old bike may not buy a huge amount of bitcoins, it will still get better as he continues to hold the bike, and it will continue to depreciate over time. Another thing is if he invests in bitcoin and he can keep it for 10 years, I believe a small amount can also turn into big savings if bitcoin can reach 500k or 1 million dollars in 10 year. With bitcoin, anything is possible, but with an old asset 10 years from now it will be useless.

That is true, but even if he can only buy a small amount of bitcoin with a lot of his local currency it will be worth it. Because if he converts the bitcoin back he will have the same large amount again.

In any case people should not stop to invest, because they feel the amount is to small. This is not how it works.

hZti

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Quote from: Cookdata on January 12, 2023, 04:54:11 AM

Quote from: Kaliandra on January 07, 2023, 07:08:03 AM

I have 2 motorbikes at home, but what I always use is only 1 motorbike, and 1 motorbike is rarely used, and indeed the motorbike is also old, and if it is sold it won't be too expensive, and I decided to sell the motorbike, because in my opinion the price of the motorbike will definitely fall over time,
(affected by inflation). and the money from the sale of the motorbike I will use to buy bitcoin. because in my opinion the price of bitcoin in the future will definitely rise. and also currently the market is bear, so this is a good opportunity to buy bitcoins. and I want to ask everyone, the decision I made, namely selling the motorbike and the money to buy bitcoin, is it wrong or not?

I'm ready to be corrected because I have no experience in bitcoin and crypto.

Well, that depends on where you live because if you use your local currency, it's possible that you won't be able to buy very much bitcoin when you convert it to US dollars, with the exception of if your motorcycle is the special kind called a power bike which I can consider that to give you a fair Satoshi that you can hold when you sell it.

Motorcycle unlike some special cars that you can auction out in the future, they are liabilities, you will continue to spend on maintenance fee and check it up even if you don't use them and doesn't still mean you will be able to sell them at the purchased price. It's better you convert it back to assets that you can see appreciate tomorrow.

That is true, but even if he can only buy a small amount of bitcoin with a lot of his local currency it will be worth it. Because if he converts the bitcoin back he will have the same large amount again.

In any case people should not stop to invest, because they feel the amount is to small. This is not how it works.

Cookdata

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Quote from: Kaliandra on January 07, 2023, 07:08:03 AM

I have 2 motorbikes at home, but what I always use is only 1 motorbike, and 1 motorbike is rarely used, and indeed the motorbike is also old, and if it is sold it won't be too expensive, and I decided to sell the motorbike, because in my opinion the price of the motorbike will definitely fall over time,
(affected by inflation). and the money from the sale of the motorbike I will use to buy bitcoin. because in my opinion the price of bitcoin in the future will definitely rise. and also currently the market is bear, so this is a good opportunity to buy bitcoins. and I want to ask everyone, the decision I made, namely selling the motorbike and the money to buy bitcoin, is it wrong or not?

I'm ready to be corrected because I have no experience in bitcoin and crypto.

Well, that depends on where you live because if you use your local currency, it's possible that you won't be able to buy very much bitcoin when you convert it to US dollars, with the exception of if your motorcycle is the special kind called a power bike which I can consider that to give you a fair Satoshi that you can hold when you sell it.

Motorcycle unlike some special cars that you can auction out in the future, they are liabilities, you will continue to spend on maintenance fee and check it up even if you don't use them and doesn't still mean you will be able to sell them at the purchased price. It's better you convert it back to assets that you can see appreciate tomorrow.

bounceback

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Quote from: Kaliandra on January 07, 2023, 07:08:03 AM

I have 2 motorbikes at home, but what I always use is only 1 motorbike, and 1 motorbike is rarely used, and indeed the motorbike is also old, and if it is sold it won't be too expensive, and I decided to sell the motorbike, because in my opinion the price of the motorbike will definitely fall over time,
(affected by inflation). and the money from the sale of the motorbike I will use to buy bitcoin. because in my opinion the price of bitcoin in the future will definitely rise. and also currently the market is bear, so this is a good opportunity to buy bitcoins. and I want to ask everyone, the decision I made, namely selling the motorbike and the money to buy bitcoin, is it wrong or not?

Deciding to sell a motorbike that is rarely used is the right decision because this motorbike is not a rare item, so the longer it takes the price of the motorbike will no longer have value and usually the enthusiasts will offer a lower price when they want to buy it.

If only after making this post you immediately sold the motorbike and used the funds from the motorbike seller to buy bitcoin then I think you have made a little profit from bitcoin because at the time you wrote the post the price of bitcoin was at the level of $ 16.9k and today bitcoin is experiencing a slight increase in price until it touched $18.2k as the highest price for 24 hours.

uneng

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Quote from: isaac_clarke22 on January 11, 2023, 12:37:08 PM

Quote from: cloirecrom on January 10, 2023, 06:32:09 AM

better hold btc, than motorcycle for sure.
if you want diversify choose another major coin like eth

Well considering OP's description of his motorbike, buying Bitcoin would be a good option unless he is in a financial problem which I don't think he is.

Assuming OP's story is true, @OP your need to get started with Bitcoin is just few searches away. I would advise you to invest in hardware wallet to hold your Bitcoin or at least paper wallet if you can do it as well. I am not sure how much your motorbike is worth after selling, but if you could make way for a hardware, please do so.

To buy a hardware wallet is the ideal, so he doesn't need to rely on online wallets and exchanges to store his coins. However, it's easier said than done, because such wallets aren't that cheap, even the humblest models. The cheapest Trezor wallet is about $100 here (plus transport fee), while the most expensive model can be found for 355$. I believe they are so expensive for being imported goods.

Anyway, it's a big investment for most beginners. I don't know how much his motorbike prices, but considering his description I don't think it stays much above the price of a hardware wallet. Sometimes reality is harsh on us and we need to choose between investing in bitcoin or buying the bitcoin wallet...

lalabotax

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Quote from: Patrol69 on January 10, 2023, 04:03:00 AM

But before investing in crypto currency, you must think carefully. Because there is a lot of risk involved. No one can confirm which direction the market will go. Since you cannot succeed in life without taking risks, you must take risks.

That's right, these things must be owned and understood when we are going to invest in cryptocurrency so that we are ready for whatever the risks are. And luckily he uses or sells non-essential items so maybe he must have been prepared for the risks and not put too much pressure on them. Here, as long as he has a target and also has the patience to wait for the Bitcoin market to be in the bullish era, then maybe he will get big profits. Provided he is really patient, not affected by the ups and downs of super drastic and volatile prices, and can manage his emotions and control them.

eaLiTy

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Quote from: Kaliandra on January 07, 2023, 07:08:03 AM

I have 2 motorbikes at home, but what I always use is only 1 motorbike, and 1 motorbike is rarely used, and indeed the motorbike is also old, and if it is sold it won't be too expensive, and I decided to sell the motorbike, because in my opinion the price of the motorbike will definitely fall over time,
(affected by inflation). and the money from the sale of the motorbike I will use to buy bitcoin. because in my opinion the price of bitcoin in the future will definitely rise. and also currently the market is bear, so this is a good opportunity to buy bitcoins. and I want to ask everyone, the decision I made, namely selling the motorbike and the money to buy bitcoin, is it wrong or not?

I'm ready to be corrected because I have no experience in bitcoin and crypto.

What model of motorbike are we talking about, since it is unused and you wanted to invest is a good thinking and since you are planning to invest in BTCitcoin under the current market situation, it is the right choice but make sure you are patient enough to hold another couple of years and never sell under any circumstance or FUD you see online and if you can do that, you made the right investment decision and make sure you invest only in BTC and not other shitcoin Wink

.

TalkativeCoin

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Quote from: rodskee on January 10, 2023, 07:55:34 PM

Quote from: TalkativeCoin on January 10, 2023, 03:48:41 AM

I had a quad/ATV and basically did the same thing.

I was looking it this way - it was losing its value with each passing day (more so if you look it at as a long-term thing), so it made more sense to reinvest its value into something that would long-term gain it rather than lose it.

you made a good decision , if we are not using our appliances or gadgets or even motorized vehicles then better to sell them all and invest in crypto not just bitcoin but to other worth investing altcoins .

I do the same thing wayback when i sold my Old laptop and Mobile phone to a friend and save them in Bitcoin and ripple.

Oh, that's a good point too, I totally forgot about the unused gadgets, there's always a tone of those laying around Grin

Rockstarguy

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Quote from: cloirecrom on January 10, 2023, 06:32:09 AM

better hold btc, than motorcycle for sure.
if you want diversify choose another major coin like eth

If OP had not sell the motorcycle, the motorcycle would have been collecting money from his pocket for maintenance, and later on if he wants to sell the value of the motorcycle will be less. Selling it to acquire bitcoin is the thing to do to for the money he sold to later on increase in value.

Quote from: Roggeredek on January 10, 2023, 05:07:44 AM

I think it is a good decision to sell motorbikes and buy bitcoins if you own a motorbike, its value will depreciate day by day but if you buy and hold bitcoins its value will increase over time. Long term investment will give good profit but have to wait patiently. Even if the price of the currency fluctuates and gets dumped, it will rise again after a period of time.

The only thing he needs to do is to hodl bitcoin patiently and never be in haste to sell. Long-term investment is always profitable just that some people finds it difficult till a time when it get profitable.

isaac_clarke22

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Quote from: cloirecrom on January 10, 2023, 06:32:09 AM

better hold btc, than motorcycle for sure.
if you want diversify choose another major coin like eth

Well considering OP's description of his motorbike, buying Bitcoin would be a good option unless he is in a financial problem which I don't think he is.

Assuming OP's story is true, @OP your need to get started with Bitcoin is just few searches away. I would advise you to invest in hardware wallet to hold your Bitcoin or at least paper wallet if you can do it as well. I am not sure how much your motorbike is worth after selling, but if you could make way for a hardware, please do so.

aysg76

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It reminded me of my case when I thought to invest in bitcoin through DCA method and follow the procedure and have a thread about it when I also invested my surplus income to bitcoin on weekly basis and have accumulated some sats through it which I am still holding at the time.

So the bike was not going to give any return and considering the depreciation it would have not given you return but maintenance cost only but it was not in your use and you made the right choice by investing in bitcoin the amount you get so it's the right choice.But hope you keep it for long term that will help you out for what you have planned but I personally encourage people to invest in it if they can but only extra funds.

borovichok

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Quote from: rodskee on January 10, 2023, 07:55:34 PM

you made a good decision , if we are not using our appliances or gadgets or even motorized vehicles then better to sell them all and invest in crypto not just bitcoin but to other worth investing altcoins .

I do the same thing wayback when i sold my Old laptop and Mobile phone to a friend and save them in Bitcoin and ripple.

Most of my assets are stored in crypto but already pulled some out due to the heavy crash of the market, but hopefully it bounces back to stability. Bitcoin have come to stay with a very bright promising future ahead of the project, just sad that most people don't know how it operates therefore they blaspheme the project calling it scam and extremely unknowledgeable about it. They see re frighten about dump of the market and regretting to be part of the bear swindle of bitcoin which many traders are already used to it while some keep the panic growing in their minds.

rodskee

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Quote from: TalkativeCoin on January 10, 2023, 03:48:41 AM

I had a quad/ATV and basically did the same thing.

I was looking it this way - it was losing its value with each passing day (more so if you look it at as a long-term thing), so it made more sense to reinvest its value into something that would long-term gain it rather than lose it.

you made a good decision , if we are not using our appliances or gadgets or even motorized vehicles then better to sell them all and invest in crypto not just bitcoin but to other worth investing altcoins .

I do the same thing wayback when i sold my Old laptop and Mobile phone to a friend and save them in Bitcoin and ripple.

cloirecrom

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better hold btc, than motorcycle for sure.
if you want diversify choose another major coin like eth

WatChe

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Quote from: Sayeds56 on January 10, 2023, 05:11:36 AM

Quote from: Oneandpure on January 10, 2023, 04:23:38 AM

I don't think bad ideas when selling motorbikes and use it for investing in Bitcoin, maybe OP earn few profit if sure have sold his motorbike when this topic made and Bitcoin right now has increase little higher price. Last three days Bitcoin still drop around $16,000 and current Bitcoin price have reached above $17,000 and earn almost few percent profit.

I don't know how decision from OP become long term holding with bitcoin, after investing forget it and back three or four years later and looking how increasing up. Possibility become short term trading, up few percent OP earn profit and sell it before buy back later when Bitcoin going dump, I think between decision with short or long term trading are worth adopt by OP after he has fund by selling motorbike.

Your idea to generate profit through short term trading and accumulate profit to rebuy Bitcoin & increase amount of Bitcoin, is good and worth trying. But it is associated with risk & its success depends on, good research work, technical skills & good knowledge of risk management tools which with consistent learning and experience. The volatility of crypto market often provides opportunity of trading and using it to generate profit, but you should know to manage the risk associated with it.

Many people think of Bitcoin as an investment where they can become rich overnight. The biggest dilemma with the bitcoin (or any other investment) industry is that we don't know whats the bottom or peak? When Bitcoin touched its ATH at 67k$, people started accumulating with mindset that it's going to touch 100k$ very soon. Now we are continuously going down but we don't know whether we have reached the bottom or it's still to come. one needs to keep such risks and challenges in mind before investing in Bitcoin.

kro55

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Quote from: Oneandpure on January 10, 2023, 04:23:38 AM

I don't think bad ideas when selling motorbikes and use it for investing in Bitcoin, maybe OP earn few profit if sure have sold his motorbike when this topic made and Bitcoin right now has increase little higher price. Last three days Bitcoin still drop around $16,000 and current Bitcoin price have reached above $17,000 and earn almost few percent profit.

I don't know how decision from OP become long term holding with bitcoin, after investing forget it and back three or four years later and looking how increasing up. Possibility become short term trading, up few percent OP earn profit and sell it before buy back later when Bitcoin going dump, I think between decision with short or long term trading are worth adopt by OP after he has fund by selling motorbike.

In spite of the fact that both short term and long term trading can make profit, he is new and so the advice of becoming a trader might not be appropriate for him. Firstly, he should become a long-term investor and then learn and hone his knowledge before he thinks about becoming a trader. For someone who has not had any experience with the market entering a trade, I can be sure that he will only lose without profit. Beginners in the trade are no different from gambling.

Sayeds56

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Quote from: Oneandpure on January 10, 2023, 04:23:38 AM

I don't think bad ideas when selling motorbikes and use it for investing in Bitcoin, maybe OP earn few profit if sure have sold his motorbike when this topic made and Bitcoin right now has increase little higher price. Last three days Bitcoin still drop around $16,000 and current Bitcoin price have reached above $17,000 and earn almost few percent profit.

I don't know how decision from OP become long term holding with bitcoin, after investing forget it and back three or four years later and looking how increasing up. Possibility become short term trading, up few percent OP earn profit and sell it before buy back later when Bitcoin going dump, I think between decision with short or long term trading are worth adopt by OP after he has fund by selling motorbike.

Your idea to generate profit through short term trading and accumulate profit to rebuy Bitcoin & increase amount of Bitcoin, is good and worth trying. But it is associated with risk & its success depends on, good research work, technical skills & good knowledge of risk management tools which comes with consistent learning and experience. The volatility of crypto market often provides opportunity of trading and using it to generate profit, but you should know to manage the risk associated with it.

Roggeredek

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I think it is a good decision to sell motorbikes and buy bitcoins if you own a motorbike, its value will depreciate day by day but if you buy and hold bitcoins its value will increase over time. Long term investment will give good profit but have to wait patiently. Even if the price of the currency fluctuates and gets dumped, it will rise again after a period of time.

Topic: I sell motorbikes to buy bitcoins - page 4. (Read 1205 times)