I sell motorbikes to buy bitcoins - page 9.

_BlackStar

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

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

There's nothing to correct, because basically you didn't make the wrong decision. Meaning that you are very right to use something that is no longer of much use ^{[a used motorbike or something]} into something useful in the future.

If you can manage and develop your investment for the better, then I'm sure your investment from the sale of the motorbike will produce a new motorbike in the next few years. So now you just need to be sure that you're doing something right, and it's time to think about how you can secure your bitcoin. Get secure wallet ^{[open source]} and backup your wallet and keep it safe.

dothebeats

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Depends on what motorbike are we talking about here.

Is it something already considered a classic? Is there any special interest in the market regarding your motorbike? What condition is the motorbike anyway? Bikes that are considered as street classics usually appreciate in value over time, and I have one in my garage collecting dust at the moment. Planning to hold on to it for 10 more years while also keeping its engine, electricals, and fluids regularly maintained. It's a great investment on its own already, and it's always good to have your investment diversified too.

As for your situation, see whether any of the factors I have listed applies to your bike. Generally, bitcoin is still a good investment long-term, but some assets can outperform it greatly depending on the rarity, value, and special interest for that asset.

If ever you have already sold it and it turns out that some bloke is willing to buy it more than what you sold it for, just keep in mind that you have bought bitcoins at the right time because of how cheap it is right now.

seoincorporation

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Selling the motorbike to buy bitcoin is a great idea, bitcoin prize is still really low now, and is a great moment to invest in it. I have sold some stuff too to invest in cryptos, and now is the time to hold and wait for the bump, at least we should double up the invested money this year.

My recommendation is to make the transaction as sooner as possible, because tomorrow bitcoin can bet in $20k and will be late to ride the wave.

tjtonmoy

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

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

The decision is fine as it totally depends on your personal preference. You can buy BTC on not, that's totally up to you. And as the motorbike has already become old, so I think it was a wise decision to sell. It's not like you can keep them fresh forever or sell them as an antique piece. It's not worth it.
But coming to your last words said in the post, not having experience in bitcoin or crypto could lead to your downfall. Don't get into trading with your bought BTC. Use proper guideline to store your assets in order to keep them safe from hackers and scammers.
All you can do now is HODL the BTC in a safe place until you learn trading properly.
There are many post in regard to improve your knowledge on how to keep your assets safe. Be sure to jump into beginners help and learn from there.
If you need some specific information on some topic, let us know and we will try our best to help.
And welcome to the community.

Rockstarguy

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

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?

If I'm to be in your shoes I will take the Same steps by selling the motorbike since it is old, and not of value to you anymore. I don't think you did the wrong thing. Bit I have for you to decide to invest the money sold for motorbike I hope you are not having a double thought concerning it, you need to make your decision and keep focus on it. Before making any investment it will be good for you to understand bitcoin market that volatility can occur anytime, and you shouldn't be distracted when you come across it but keep hodling.

yhiaali3

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This is a personal matter in fact, there are people who do not want to sell their physical possessions to buy bitcoins because they see it as a risk, they just buy bitcoins with more money than they need.

On the other hand, there are people who sold everything they owned and bet on the rise of Bitcoin in the future.

Personally, I see that this bet is profitable in the long run, because material things lose their value with time due to inflation, while Bitcoin maintains its value and increases with time.

SOKO-DEKE

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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.

Based on your post's write-up, I don't think you made a make a wrong decision, by chosen to sell the motorbike you are no longer using in order to buy Bitcoin, which buying of Bitcoin you hope will bring you future financial success. That, in my opinion, is also a wise choice.

Accumulating Bitcoin is a great idea but it is not advisable to sell your precious property to do so or take out a loan to do so because you believe you can profit from it in the future. Before selling your motorbike to buy Bitcoin, try to go thoroughly investigate the risks that the cryptocurrency market entails.

Kaliandra

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Quote from: AbuBhakar on January 07, 2023, 09:16:43 AM

You made the right choice. Motorbikes value depreciate as time passes by while Bitcoin value is proven increasing over time no matter how hard it will dump from ATH. I believe no one has the right to correct you here for your decision since it’s your motorbike.

Your other choices to do on the profit from bikes is to use it on business but investing on Bitcoin is the easiest way to earn profit long term.

then your thoughts are the same as mine,, and your words make me believe that investing in bitcoin is better,

reagansimms

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I really support your action. Instead of keeping a motorbike that is rarely used, the money can be used in a place that can provide more returns even if at certain times it is not as expected.
Your belief that Bitcoin will rise in the future has prompted you to spend the money from selling motorbikes on Bitcoin, of course you will never regret the decision if at any time reality does not match expectations. But many cases have happened, after Bearish conditions will come Bullish. You need to be patient until the amount of money you invest in Bitcoin increases.

Inwestour

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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.

Even if you have no experience in investing, then I would still not listen to the advice of other people, try to study all the available information and make a decision on your own. I don't know how much money to get for the bike, it should be a good amount. If I had to sell my car, I don't know if I would invest this money in bitcoin, maybe I would find another use for it.

Yes, now is a very good time, the bear market has been going on for a very long time and this is considered by many to be the best time to buy bitcoin, I also support this. But it is very important that you study all the available information and make your own decision. This investment can bring profit in the future.

xSkylarx

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If your motorcycle is gathering dust in your garage and no one can use it, such as relatives or your son, it might be time to sell it. If I were in your situation, I would repair and clean it first before selling it so that you can price it higher and ensure that there will be buyers. I own a motorcycle too, but I won't be selling it even if I buy a new one, as it has sentimental value to me. After selling it, you can invest it in bitcoin because there is a high chance of profit but also some risk.Â Just be careful and make sure your bitcoin is secure, like storing it in your own wallet and not in an exchange.

abel1337

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First, You need to understand what bitcoin and crypto is before you sell your motorbike. I'm sure that there will be a confusion or possible danger of losing your cryptocurrency after you sold your motorbike. Basic knowledge such as storing your crypto on wallets is needed to secure your investment. I know that your motorbike is valuable to you that's why you need to gain knowledge first before entering crypto because the last thing we want to happen is when your cryptocurrency has been stolen because of lack of security.

But overall I think it's a good choice to sell unusable liabilities especially if it depreciates overtime. Putting it on bitcoin as an investment isn't a wrong decision, I believe it is how you manage it since most of us here in this forum has bitcoin and knows what could might happen in the future when the bull market arrives.

hugeblack

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What you did can be a successful investment if you develop a plan for when you will sell the bitcoin that you bought, and what will you buy with it, meaning will you buy a new motor with it after three years, or will you reinvest?
In general, if you develop a good plan, it may be a very successful investment.

AbuBhakar

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You made the right choice. Motorbikes value depreciate as time passes by while Bitcoin value is proven increasing over time no matter how hard it will dump from ATH. I believe no one has the right to correct you here for your decision since it’s your motorbike.

Your other choices to do on the profit from bikes is to use it on business but investing on Bitcoin is the easiest way to earn profit long term.

m2017

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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.

Wrong decision or not, it's up to you.

If I had a similar situation with 2 motorcycles, then I would get rid of one, and with the extra money I would buy btc. Actually, no, I would not buy 2nd motorcycles and immediately buy btc.

Don't wait for approval or condemnation of your actions, but do what you think is right. Your life, your rules. But first, weigh all the possible risks and losses, and only then act.

In general, it is a good idea to get rid of unnecessary things and buy bitcoin with this money and I support your decision.

Yatsan

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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 something to buy something profitable is a good thing and you are doing 'investment' right in my opinion. Some people would sell what is necessary because of their impression towards something which is profitable, perhaps Bitcoin, which is not a good thing to do. Always check your necessities and only invest an amount you can afford losing, as being mentioned endlessly. Inspite of the potential for this technology, investors should still measure the risks involved and it won't be smart to loan (in some instances as mentioned by other users in this forum) just to invest. Any form of investment won't guarantee profit especially with this blockchain wherein the market prices are too volatile.

rhomelmabini

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

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?

Well, you already answered it on your post already and if likely you're determine to sell it for Bitcoin, have second thoughts before you do so. It's not like easy as that for an speculation, price valuation may take longer than expected and I hope you're prepared if it declines even more in this stage.

I'm not discouraging you not to but this scenario is likely to happen and it may disrupt your mind if you want to sell it for a loss or hold it until you're in profit. It will be wrong if you buy then sold it for a huge loss and it will be the right decision if you hold onto it the longer.

Minecache

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There is nothing wrong with selling unnecessary assets to invest in bitcoin.

The more important thing you need to care about is the knowledge to invest, I think you need to have a basic understanding of bitcoin such as how to buy, sell, and store…to get started. Investing in bitcoin is not in a hurry because just one small mistake can lose all the money you have which cannot be reverted.

My sincere advice, since you are inexperienced in the market, after selling your motorbikes, you should only invest in bitcoin. Refrain from being curious or greedy to invest in altcoins, it will make you lose heavily.

worle1bm

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See if the bike was not in your use and you have decided to invest the surplus money into bitcoin then definitely you have made the right choice.The rule says you should invest after analysing all the risk and don't invest what you can't afford to loose but the money you got by selling the bike was surplus so you are good for it.But if you have long term approach in mind then it's best because you will get return and hold on to your nerves in next dip then only you will get profits.But you have made a good decision man.

Hamza2424

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Good idea as you are grabbing the opportunity instead of savings. Saving money is the loss of money as you said the bike was not in use or is not in use so your decision is good. As far i know you won't regret this. BTC is on its Knees or you can say in the depth of the bottom so if a wave rise from where it can be bigger than the Eiffel tower haha just an idea.

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