Only Sell what you don't need. - page 2.

Bushdark

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Quote from: icalical on November 30, 2023, 08:47:00 AM

I don't think 'need' is the correct term, if we talk about investment and diversifying portfolio, investment itself is not a necessity, we can still survive without our portfolio. And people invest only after their basic needs is fulfilled. We could sell when we think we can make more profit in Bitcoin instead of in current investment.

Investment is very important for us to keep making money in the market and diversifying our portfolio can be very rewarding for us if we know how distribute our investments in a way that is going to be profitable for us. We can make money when we share our portfolio in different investments so if one is not doing well or bringing profits for us, one could turn to other investments for profit.
It also applies to cryptocurrency investments like investing in different projects so we can make money in the market without stress.

uchegod-21

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Quote from: Lida93 on November 29, 2023, 08:16:23 AM

Have seen many posts in the forum posters sharing their excitement about how they sold their property's to buy bitcoin and that's what called for this thread. Some claim to have sold land/landed properties, cars and other equipments. Yeah' no body has a right to dictate for you on how or what to do with your property , it is yours anyways.

However, you need to apply wisdom when taking such steps of selling a property to invest in bitcoin, make sure the property you are selling off you don't need it (a property you can afford to lose) because there is a risk in bitcoin investment the embedded risk of volatility shouldn't be neglected.

Lastly, whatever property you have decided you must sell off, you could always sell divide the money, use part of the money realized to invest in bitcoin stead of using all of it, and then using the other amount remaining to buy another of that property elsewhere for a lower rate.

Now this is what I mean: assuming you sold your piece of landform $20k, you use $10-13k to invest in bitcoin and the remaining $7k to buy another land somewhere at a cheap rate. Surely, with years the value of that land will always appreciate so you still have a land (only that it's at a different location) while you invest in bitcoin stead of using (risking) all the money at ones.

Just my two cents.

Everything is about risk, but then some people take more risk than others. While some wise people take calculated risk, some others do not take calculated risk. Some other type of people do things just because others are doing same thing. They forget that what really worked for Bob might not actually work for Alice. It is left for you to make your research and do what you think is favorable to you.

I have seen people especially in African countries who sell their landed properties just to travel to Western countries. It really worked for some people that they became rich and came back home to buy such other properties. But to others it didn't work for them, whereby they have to return home and become homeless because they already sold all their landed properties before traveling. I believe in diversification of investment, so it is not nice to put all your eggs in one basket. The advice is op is purely valid.

mamesso

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There is no investment that offers big profits without risk, but back to each individual's decision and how to manage finances, if you want to make a lot of profit, you have to be prepared for the risks. Bitcoin is considered a form of investment that has promising returns, which is why interest in Bitcoin continues to increase all the time. Volatility is one of the biggest risks in Bitcoin investment, so thorough consideration is needed before selling property or other valuable assets to invest in Bitcoin.

Using money they can afford to lose is better than taking big risks such as selling land, cars or other valuable equipment. You need a thorough understanding before investing in Bitcoin and considering how much loss you can bear. The key for people who are willing to sell property to invest in Bitcoin in the hope of abundant profits is patience.

Kristiyana

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Thanks for this post. Some people always do that out of greed because they want to make huge profit they will want to invest everything not knowing that what they are investing, they are not the one controlling it and some time what causes it is wrong analysis, maybe after running your analysis you find out that there's going be a bull run in a particular coin while the coin is going to take a bear, at that point in time you have done a wrong analysis. When should always try to know that we are not the owner of what we want to investing in.

fullhdpixel

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Quote from: coolcoinz on December 03, 2023, 10:53:28 AM

Quote from: Lida93 on November 29, 2023, 08:16:23 AM

Now this is what I mean: assuming you sold your piece of landform $20k, you use $10-13k to invest in bitcoin and the remaining $7k to buy another land somewhere at a cheap rate. Surely, with years the value of that land will always appreciate so you still have a land (only that it's at a different location) while you invest in bitcoin stead of using (risking) all the money at ones.

It's not that simple.
When I see people recommend real estate investments over bitcoin, I answer them with this:
Would you recommend people to buy land in Ukraine now? In 2021 there was a popular new settlement near Kiev full of expensive villas. The place was called Bucha...

Saying that your real estate investment will always grow in value is pretty naive. Maybe if you buy an apartment in New York or London it will be true, but for that you'll need a million dollars or pounds.

I guess your investment plans and targets should also be based on where you live and what you plan to invest in, just as you said, in some countries, real estate might not be a viable investment solution while in some, it might be the best investment option. Now in a country that is hit by war, it is not profitable for someone to invest in real estate, but then again, how would someone know it before the war? So, it's a complicated situation and also not a very likely thing to happen as the odds are very small for such things to happen unless the country is always at war.

People in such countries should choose other investment options such as Gold or financial markets such as stocks or cryptocurrencies because these things are barely affected by war and even if the country is hit by another country and there is war going on, their investments won't be affected.

Lida93

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Quote from: Ndabagi01 on December 04, 2023, 05:39:29 PM

Quote from: Lida93 on November 29, 2023, 08:16:23 AM

Now this is what I mean: assuming you sold your piece of landform $20k, you use $10-13k to invest in bitcoin and the remaining $7k to buy another land somewhere at a cheap rate. Surely, with years the value of that land will always appreciate so you still have a land (only that it's at a different location) while you invest in bitcoin stead of using (risking) all the money at ones.

Just my two cents.

Your two cents worth of advice is excellent, and it will help in accelerating the creation of a well-diversified investment portfolio. In this case, having only one investment makes it very difficult to achieve your desired goal due to the numerous lapses that come with having and maintaining an investment. Bitcoin investment is good and can be relied on; however, investing your money in land for future resale or use will also yield significant profits. What matters is how you plan your life and achieve your life goals. If the method you've suggested works for you, go for it; if not, you can always try another; what's more important is to try and invest in more than one investment with your money.

For a long term investment asset like bitcoin having a some other source of income inflow as backup can be helpful in building a good bitcoin portfolio whatsoever lapses that emerges in midway you wouldn't be forced to tamper with your long term investment bitcoin plans as your other source will cover for it.

Technically, if you had to sell a property or properties to get money to invest in bitcoin it then interprets that you don't have any other money left after using all to invest, and should in the process you had to face a financial crisis that entreat an immediate financial response you may either be forced to sell your coins or sell another property again.

Assuming you divided and invested a higher percentage of the money in bitcoin and diversified the rest amount into other sort of Investment. Under such circumstance the other Investment can be used in solving your issues that's why diversification is necessary as an investor.

libert19

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I actually learned this lesson by selling my inventory of a p2e game, I was enjoying the game so much but one day thought arose that I should sell it and secure my profits, I missed it a lot that got back to it recently and having fun back again. Lol.

Quote from: Lida93 on November 29, 2023, 08:16:23 AM

..because there is a risk in bitcoin investment the embedded risk of volatility shouldn't be neglected.

I always say there is more risk than just volatility. Exchange you hold your funds can get hacked, you misplace your seed phrase (I read a post of similar happening couple weeks ago, although ending was positive), history have shown us even non-custodial wallets are not really secure (as case of atomic wallet).

Never invest more than you can afford to lose, no matter how much secure it may seem.

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Quote from: Lida93 on November 29, 2023, 08:16:23 AM

Now this is what I mean: assuming you sold your piece of landform $20k, you use $10-13k to invest in bitcoin and the remaining $7k to buy another land somewhere at a cheap rate. Surely, with years the value of that land will always appreciate so you still have a land (only that it's at a different location) while you invest in bitcoin stead of using (risking) all the money at ones.

Just my two cents.

As many people say, investing in BTC has to use money that is ready to be lost and I totally agree that investing in BTC has to use money that is ready to be lost.

but there are some people who want to invest in BTC and even sell land or so on, I don't think there's anything wrong with that as long as before investing in BTC have to learn about the risks of investing in BTC. and I really agree with your opinion, it is true that if we use a technique like that, it will certainly mean that we will not lose our land because half the money from selling the land will be used again to buy land which is still cheap, such as land in remote areas, of course one day the price will be higher. Even in remote areas, it will definitely be expensive because land prices always increase every year. So that way will have the potential to get maximum profits, namely profits from investing in Bitcoin and also profits from investing in land.

and indeed if all the money from land sales is put into BTC it is very risky.

Y3shot

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Quote from: lovesmayfamilis on November 29, 2023, 10:36:10 AM

I think that selling something from home is already a bad trait. If you do not have additional income that can be invested and you are not afraid that at some point it may be lost, then it is better not to rush into investments. Selling real estate, I would say, is a mistake to make, as real estate is already considered an investment that has grown over time. Selling little things makes you smile. If you don’t have extra money, you shouldn’t take off your last clothes; investing pennies will still not make you richer.

Having a multiple source of incomes it really helps in sustaining investment. Selling a good investment to start another investment tells that their is no good source of income and the investment can be be tampered because it is one that the investor looks up to survive. Getting multiple investment is another type of investment to help and sustain other investment. In a case where no good source of income to depend on one may likely sell his or her landed property or bitcoin just to survive. I think we fighting for more source of income is very important.

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Quote from: Lida93 on November 29, 2023, 08:16:23 AM

Now this is what I mean: assuming you sold your piece of landform $20k, you use $10-13k to invest in bitcoin and the remaining $7k to buy another land somewhere at a cheap rate. Surely, with years the value of that land will always appreciate so you still have a land (only that it's at a different location) while you invest in bitcoin stead of using (risking) all the money at ones.

Just my two cents.

Your two cents worth of advice is excellent, and it will help in accelerating the creation of a well-diversified investment portfolio. In this case, having only one investment makes it very difficult to achieve your desired goal due to the numerous lapses that come with having and maintaining an investment. Bitcoin investment is good and can be relied on; however, investing your money in land for future resale or use will also yield significant profits. What matters is how you plan your life and achieve your life goals. If the method you've suggested works for you, go for it; if not, you can always try another; what's more important is to try and invest in more than one investment with your money.

Essential10

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Before taking any big decision we should consider all our financial obligations and future needs. Be cautious and thoughtful when entering into any type of investment and Bitcoin is no exception. It is always best to invest with money you can afford to lose, as there are no guarantees in any investment. Taking out a loan or selling a property can be risky and can put you in a difficult financial situation if things don't go according to plan. Since money is personal, the decision must be yours. But those who gamble constantly lose money, at some point they sell their money or real estate and create a gambling mindset. I think they should invest in Bitcoin whether they understand Bitcoin or not. At one point they can see potential future profits, which are much less risky than gambling.

michellee

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Actually, we don't need to sell the assets we own to start investing in Bitcoin. We can use existing money in the sense that it is money that we do not use for other things. That is to reduce any risk that might occur. However, we cannot prevent those who want to sell their assets from investing in Bitcoin. By selling the asset, we must be prepared if the price of the asset will increase many times over.

We can only advise them to use the money we can afford. Only people who have thought about the risks can decide to sell their assets to invest in Bitcoin. But for most people, they are better off using money that is not used for any needs.

But whatever decision they take, they must understand the consequences. And you also have to be ready for whatever will happen.

Mame89

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Quote from: AakZaki on December 01, 2023, 02:40:38 PM

It is quite risky to sell immovable assets such as land and property, you have to know what you are doing and you have to enter at a really low price. Don't let the purchases you make cause you to lose even more and end up panicking too much. In fact, it is not really advisable to sell land and property for Bitcoin investment, because the price of land and property will also be higher and you cannot buy it back at the same price. Long-term investments take time and require patience, don't panic about declines and don't sell at a loss.

Every person has different principles in thinking about assets, some are BTC, gold, shares, property, etc. Whatever the choice, the goal is one "profit". Fellow investors must respect each other for the decisions they take. But personally I also follow your advice not to sell property just to invest because this is very risky. Except for those who have a lot of population assets, there's no harm in trying as OP suggested.

Because sometimes as investors you have to make a brave choice, maybe they will become very rich when BTC reaches the new ATH, which we believe is now at that time because we are approaching the BTC halving.

SmartCharpa

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Quote from: Lida93 on November 29, 2023, 08:16:23 AM

Have seen many posts in the forum posters sharing their excitement about how they sold their property's to buy bitcoin and that's what called for this thread. Some claim to have sold land/landed properties, cars and other equipments. Yeah' no body has a right to dictate for you on how or what to do with your property , it is yours anyways.

However, you need to apply wisdom when taking such steps of selling a property to invest in bitcoin, make sure the property you are selling off you don't need it (a property you can afford to lose) because there is a risk in bitcoin investment the embedded risk of volatility shouldn't be neglected.

Lastly, whatever property you have decided you must sell off, you could always sell divide the money, use part of the money realized to invest in bitcoin stead of using all of it, and then using the other amount remaining to buy another of that property elsewhere for a lower rate.

Now this is what I mean: assuming you sold your piece of landform $20k, you use $10-13k to invest in bitcoin and the remaining $7k to buy another land somewhere at a cheap rate. Surely, with years the value of that land will always appreciate so you still have a land (only that it's at a different location) while you invest in bitcoin stead of using (risking) all the money at ones.

Just my two cents.

The most important thing for us to know is that, even with our deep understanding of bitcoin, we shouldn't use all of the money from the sale of our properties to purchase bitcoin. Instead, we should use our common sense every time we make financial decisions. For example, if I want to start investing but don't have the funds to do so, I won't sell my one piece of land because if I do, I won't be able to buy another. Investing in bitcoin carries a significant risk because, if I sell the land and use half of the proceeds to purchase bitcoin, since i have made an investment and will be expecting a profit at the appropriate moment, I'll say, "Let me use the remaining one on something important to me for now.

Even though we can afford to lose the property, we should make sure it belongs to just one person, not to a family member who might not understand what bitcoin is all about. In this case, we don't have the same thought process for everything we do, and it's not just bitcoin. If we have something to do and we don't have the money to do it, we definitely shouldn't sell the property that we can need soon.

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Quote from: Timmzzy on December 03, 2023, 03:20:03 PM

Menhn I can't sell of my car to buy Bitcoin or what so ever cryptocurrency that's out there, it's something precious to me I rather work out my cash to buy Bitcoin or any other crypto currency, I can't see my self selling my properties for anything because the first time you attempt that it will be a gate way to call in poverty state of mind.

I didn't understand the simple thing if a person is working day and night for his dreams like one of the dream is buying a car then suddenly his dream came true and he has bought a car. After that would he like to sell his car just for the investment in the trading.

As recently I have seen those people who sold their houses even they don't have to sell those and thy are now in a big loss. Their relatives are even on higher places and they are now in the down position.

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Quote from: Lida93 on November 29, 2023, 08:16:23 AM

Have seen many posts in the forum posters sharing their excitement about how they sold their property's to buy bitcoin and that's what called for this thread. Some claim to have sold land/landed properties, cars and other equipments. Yeah' no body has a right to dictate for you on how or what to do with your property , it is yours anyways.

However, you need to apply wisdom when taking such steps of selling a property to invest in bitcoin, make sure the property you are selling off you don't need it (a property you can afford to lose) because there is a risk in bitcoin investment the embedded risk of volatility shouldn't be neglected.

Lastly, whatever property you have decided you must sell off, you could always sell divide the money, use part of the money realized to invest in bitcoin stead of using all of it, and then using the other amount remaining to buy another of that property elsewhere for a lower rate.

Now this is what I mean: assuming you sold your piece of landform $20k, you use $10-13k to invest in bitcoin and the remaining $7k to buy another land somewhere at a cheap rate. Surely, with years the value of that land will always appreciate so you still have a land (only that it's at a different location) while you invest in bitcoin stead of using (risking) all the money at ones.

Just my two cents.

Menhn I can't sell of my car to buy Bitcoin or what so ever cryptocurrency that's out there, it's something precious to me I rather work out my cash to buy Bitcoin or any other crypto currency, I can't see my self selling my properties for anything because the first time you attempt that it will be a gate way to call in poverty state of mind.

Crypt0Gore

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This advice is really not needed, someone who have one thing won't find it easy to sell them to take risks on Bitcoin, if I have a house living with my family, I won't dare sell it to invest in Bitcoin, where are we going to live after? So those who are selling off their properties have more than one, those who sold their cars to invest in Bitcoin have more than one, they can afford to take the risk.

It's not always good to have just one thing, this is part of the reason why, when opportunity arise you will be able to take part in the opportunity before it's too late, all those that sold their properties to buy Bitcoin are already in big profit right now, if I have something that I can sell I would have already.

Taking risks with Bitcoin always pay off, like seriously it's very hard to lose money with Bitcoin, unless you lack the knowledge of when you should be buying and when you should be selling.

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Quote from: Lida93 on November 29, 2023, 08:16:23 AM

However, you need to apply wisdom when taking such steps of selling a property to invest in bitcoin, make sure the property you are selling off you don't need it (a property you can afford to lose) because there is a risk in bitcoin investment the embedded risk of volatility shouldn't be neglected.

Lastly, whatever property you have decided you must sell off, you could always sell divide the money, use part of the money realized to invest in bitcoin stead of using all of it, and then using the other amount remaining to buy another of that property elsewhere for a lower rate.

My experience is the opposite, I sold my casascius Bitcoin before during the peak last bullrun and invested the proceed to establish my garments company. My sell-off pays a lot since my business is already generating huge amount which I get already the ROI with just 2 years while I can use part of my business profit to purchase Bitcoin slowly to recover my previous Bitcoin that I sold before.

I still preferred the traditional business as main source of income instead of focusing too much on Bitcoin investments just to get quick profit since Bitcoin bullrun always have an expiration and there’s always a bear season which investments is not growing compared on the traditional physical business that is consistently generating profit. So I think selling property to create business the invest on Bitcoin using the business profit is still the best way to enter in crypto when selling property.

coolcoinz

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Quote from: Lida93 on November 29, 2023, 08:16:23 AM

Now this is what I mean: assuming you sold your piece of landform $20k, you use $10-13k to invest in bitcoin and the remaining $7k to buy another land somewhere at a cheap rate. Surely, with years the value of that land will always appreciate so you still have a land (only that it's at a different location) while you invest in bitcoin stead of using (risking) all the money at ones.

It's not that simple.
When I see people recommend real estate investments over bitcoin, I answer them with this:
Would you recommend people to buy land in Ukraine now? In 2021 there was a popular new settlement near Kiev full of expensive villas. The place was called Bucha...

Saying that your real estate investment will always grow in value is pretty naive. Maybe if you buy an apartment in New York or London it will be true, but for that you'll need a million dollars or pounds.

Chilwell

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Risk is unavoidable in our lives if we truly want to survive, and if we choose not to take risk, we are left with little choice but to be an employer of a risk taker. Selling a property to acquire another is acceptable, however it is dependent on the property being sold and the one being purchased. For the time being, Bitcoin is known as a future investment for everyone who buys it and HODLs it till the price is high. Selling property to obtain bitcoin is a wonderful idea, but the property must be unproductive assets that cannot create a profit. Productive assets are assets that can generate profit or appreciate value, I can't advice anyone or even me to sell Productive assets are assets that can generate profit or appreciate in value; I cannot advise anyone, including myself, to sell productive assets in order to replace them with bitcoin; however, as the OP stated, land is a productive asset that can appreciate in value in the future; assuming it is located in a very interesting location that can capture people's attention, sell and divide the money in half; use one half to buy bitcoin and the other to buy another land;

Topic: Only Sell what you don't need. - page 2. (Read 893 times)