Topic: Only Sell what you don't need. - page 4. (Read 812 times)

This is what I have said a few times here on the forum: when anyone wants to sell their property to invest in Bitcoin, it's either they should sell what they are not going to be in a deep need of or they can also share the property into two and sell only some. For example, there was a guy who said he sold some plots of land to invest in Bitcoin, and according to him, he had more than two acres of land, so he only sold one and used the money to acquire some fractions of Bitcoin. Another person had two motorcycles but sold one and used the money to invest in Bitcoin; that is also wise, but in a situation where they sell everything they had just to invest in Bitcoin, then it's not a wise act.

It not a bad idea totally if the property you sell to buy Bitcoin is no longer of useful to you, take you, for instance, I have an uncle who has a number of cars parked in his house without him driving them for a long time, and occasionally, we even ask what he uses those cars for  since he don't use them and the majority of them got spoilt due to over packing of the cars for years, he even spent money to service those cars when he comes during Christmas celebrations and still won't use those cars until returns back to the city.
so I think a situation like this instead of keeping those cars, and they got spoil totally, I would rather sell to buy Bitcoin.

Thanks for the appraisal!
You know the risk  It hits differently on us when we invest with our own personal money to when we use money realized from the sale of a group owned property, that's where the panicking get exacerbated because the inner aspect of our being panicking is not just in losing the money but in the aftermath of the consequences and repercussion we have to face from others that have a part in that money.

In that conduction long term investment plan becomes troublesome addition to when the market is not moving in the direction you had expected base on your own analysis before taking your decision. Investing in bitcoin is reliable to bring returns if only you can wait but how long can you wait when the co-owners of the money are on your neck, that's why we should make it a principle to always invest with our personal money, if we must sell a property let it be our own very property not a family or group owned property.

the truth is that most of the persons that said they sold out their property to buy bitcoin are not being truthful to themselves.if they will be honest with themselves, It's very difficult to sell out your asset most especially the ones like land that its value appreciate and you use it to buy another asset hoping for it value to appreciate.  If you tell me that you used a whopping sum of money to accumulate Bitcoin, I could easily believe you but for you to sell your asset, that's possible but I doubt many persons can do that. 20 out of a 100 person who are making this claims will not even agree to doing this.

Despite the fact that Bitcoin has proven to be a good investment over the past few years with a good return on investment, it is not still advisable to sell your properties to invest in Bitcoin because of the nature of its volatility. Bitcoin is not an investment that someone can just make profits over a short period of time unless they are lucky. So if you sell your property to invest in Bitcoin and it is property that is valuable to you, you will be totally depressed when your Bitcoin investment is not going the way you planned it to.
 
If someone wants to invest in Bitcoin but doesn't have money at that particular time, it is better for them to wait until they get money to do so. I don't think it will be too late to invest in Bitcoin in the near future. It is a wise idea to invest what you can afford to lose.

After reading Op, I smiled... This is because I have tried to understand bitcoin and I will tell you that bitcoin is to different people different things.
To some people, bitcoin is a safe haven for investment and those are the set of people that invests their life savings or retirement fund into bitcoin.
To some other people, bitcoin is just a bubble that might burst tomorrow. So, they hastily want to take profit because it will end like a Ponzi scheme.
There are others who obey the rule of investing what you are able to lose with the DCA method.
Some don't even mind if they gain or lose in Bitcoin, they just want to holave enough bitcoin today, maybe bitcoin can value $1M tomorrow.

Even though no one has the right to dictate to anyone in the forum, is there any adjustment to what they tell? I mean we don't need to try to explain to other people how to approach buying in bitcoin because the real proof is not in what we talk about but how they can prove their own consistency in bitcoin and other people just discussing with each other.

It's a shame that not many beginners speak according to the facts, for example selling a car, house or land to invest in bitcoin. Imagine when they try to sell other assets to invest but they don't understand the investment strategy, is it possible for them to dare to take that risk?

Land is just as good as an investment in Bitcoin because as the years go by land also has quite an expensive selling price. If this step is chosen, in my opinion it is not appropriate because selling land and buying bitcoin with all the budget you have will pose a big risk for those who have no experience in investing. There are also quite a lot of uses for land and now there are contractors who are willing to build shops on our land with a profit for two, for example if you can build 10 shops on your land then the contractor will divide 5 shops to the land owner.

Isn't this much more profitable because half of the land we own is still ours and the shop can be rented out and every year we have income from tenants. This phenomenon happens a lot in my area and land prices are getting more expensive day by day so owners can make big profits if used properly.

Good advice, OP. It is very important that we think twice before we invest in bitcoin. Especially if we don’t have any properties that belong to us, using family property or something that doesn’t belong to us is a bad idea to invest in bitcoin.


Although everything we sell because we want to invest in bitcoin is our wish, the main problem is that we should not invest and be panicking at the end of the day. Some people are making that mistake, which is wrong, so while making decisions for the investment, we should take a look at what we want to sell if we are going to need such things in a short period of time, as bitcoin is not a short time. investment, and you will hear those people complaining when the price doesn’t go for them or the market shows the negative side of it. However, we should also invest what we can afford to lose. We should say that because what we sold carried a huge amount of money, we will invest all the money and use part of it for the investment.

You are right because for me I wouldn't advise someone to sell there property just to buy Bitcoin especially if the property is something that could worth a tangible thing in the future because irrespective of how good and opportunity that may be offered by Bitcoin doesn't mean that people will sell there property to invest on Bitcoin because is very volatile in times of price movement so however the only way for the investor to see a good profits is by holding for a long time, So if the person sold his property to invest on Bitcoin with the hope or believe that they will start making profits immediately he may be panicked to sell his investment on a discounted price. So that is why is always advisable for someone to only invest with the money that may not affect them.

So however as someone that love to invest on Bitcoin, instead of selling his property he could actually strategize himself in such a way that he will start saving up some money or preferably venturing into business that could be fetching him a daily or weekly dividends and from there he may now decid to start investing on Bitcoin and by then he has gotten a stable income generator through the business.

There are condition where selling our asset to invest in another profitable venture is a good decision.  Like when the land is idle and just accumulating taxes, not producing any goods or profit but rather  become a liability, it is best to sell that property and invest it to a more profitable venture. 

There are people who sold all their property and invest in Bitcoin just like the man who is featured in this article[1].

People who sold their property to invest in Bitcoin probably read that story, but I can say that, it is still best to invest what we can afford to lose.

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[1] https://medium.com/illumination-curated/the-man-who-sold-everything-to-invest-in-bitcoin-ecd27090a8be#

Some people sell their properties to invest in bitcoin because they have other assets to keep because a person who understands bitcoin will not sell all of his assets to invest in bitcoin to make a profit because he knows it is volatile, but I won't blame some people who don't have any source of income and sell all of their properties to invest in bitcoin because they believe they will make a profit and are prepared to lose at any time. But in my opinion, all of the people who sell land or other property and invest in bitcoin are people who don't have much knowledge about it and they confused them to invest in bitcoin and they don't tell them the negative side about it, they only tell them the benefits and fail to tell them the risk part, and they will try to use whatever they get to invest and get profit because they don't believe they will lose any of their funds they invest in bitcoin.

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.

You right about you analysis. Despite we are thinking of selling property to buy bitcoin, I think there is a need to also be careful, nobody is doubting Bitcoin capability but it's just like diversification of potfolio, not putting all your eggs in one basketball. Just like the way you narrated, selling of land for example $30k and use $13k dollar to buy bitcoin and $7k for land. If you really check, the more the world is growing, so is civilization. For example the place you baught land at $7k, in 10 years later it will turn to a city. and that your land becomes a target for investors or people. And if you are willing to sell, you might make 5x or 7x of your capital. There is also volatility in land and the advantage of it, is that it's always appreciate in value and never depreciate.

Lately there are many posts of this type saying that they are selling their property and investing in Bitcoin. It is true that what one does with his property is his own business. No one has the right to interfere. But selling your property and investing in Bitcoin is very risky because  Investing in bitcoins is very risky because your wealth can go down here, so to those who are doing this and investing in bitcoins by selling their assets, I would advise you not to invest all your selling money but to invest some part of it so that even if you lose it, you will gain something.  No, such extra money should be invested in your Bitcoin because Bitcoin is very risky.

Agreed, though not all investors think it twice before take off, there are some that invest out of the fear of not missing out probably in the next profit (bull run) that may  occur. It's like I see people doing it so let me just join the queue by selling a property to invest too; but for those that did think twice with a scrutinize mapped out plan they always get what they want from bitcoin.

I guess those that don't buy the idea of selling their property to buy bitcoin are as a result of how or what they might have passed through to acquire such property and to them they feel it's not worth risking with it so they prefer scrapping out another alternative to get money to buy and invest in bitcoin. Yes, people that are so confident about what they are doing tend to risk it all, like you mentioned about investors that bought bitcoin last year when it was low, they understood the time that it was the perfect  dip for those that have missed out of the last ATH.  So anyone that's ready to risk it all must be in the know and with a plan to invest for a long term as possible.

Well, I want to agree with you, but whenever an investor goes, and sells their belongings (including property), I believe that they've decided it twice or thrice before doing it because the involved money is so huge that they might get affected when they lose it.

I don't know if there are some here who sold their property and ended up losing money investing in Bitcoin. Maybe those who sold their properties, and then bought Bitcoin when it was at its peak are the ones, but those who sold their property let's say last year, for sure doubled their money already. After all, it's all about risk management. If you believe that what you're doing will be beneficial for you in the long term then by all means do it. If you believe that selling your property today and buying Bitcoin will be good for you, as long as there is nobody that will stop you then do it.

I know that there are some who don't like the idea of selling some of their belongings just to buy Bitcoin, but take note that there are some who risked it all, sold their properties, then bought Bitcoin, and their money doubled or even tripled already. Like I said, it's all about risk. As for OP, there's nothing wrong with your opinion. It's just that there are some people who want to risk it all because... because they are afraid to lose their potential profits.

This advice caters to different investment philosophies. For those prioritizing safety, it emphasizes diversification, urging caution against putting all investments in one place. Yet, for savvy investors embracing the "high profit, high risk" mantra, safety isn't compromised; rather, it hinges on market mastery. Recognizing the cyclical nature of assets, a strategic approach emerges. For instance, selling property during a crypto bear market and capitalizing on Bitcoin's bull run, especially during halving periods. The trick lies in alternating investments wisely, maximizing gains from both avenues. This dynamic strategy, if understood, enables foreign investors to navigate the market intelligently, ensuring optimal returns through careful asset allocation.

I came from quite a family but didn't have much money to begin with. We have a house, land but I will not touch for investment purposes because indeed it still belongs to the parents. In fact, I have no intention to sell the property for investment purposes. I think more about staying safe investing according to my capital and ability. In fact, you need to know when 2015 I started trading with only $40. It was quite big because I was in college. So it's better to start with what you have without making new risks by selling property. If you fail then you won't suffer too much but if you fail and your property runs out it will make you worse.

Op you made some vital points but as for me personally and I don't know for others. I don't too much see a very severe risk in Bitcoin investment that making people to talk about it always. Because the way I see Bitcoin investment is that, before you key into it you have to plan ohe it going to be and the duration of the investment. You don't have to buy Bitcoin and just started investing in it. Before going into, you have to understand the bear time of the investment and the bull time of the investment.

I have not really supported the selling of landed property to buy Bitcoin because Bitcoin is not a system you get your small profit in a short time but a very long time. And if you can't wait and the land is own by the family, they will definitely disturb you. And at that process, you would like to sell and settled them and bear is at the lower bear market and you will be at the lost side of the investment. Therefore be careful with the family properties.

I agree with your suggestion mate,  a lot of people come to investing but they make a very big mistake and they think that through the profits that they earn within two to three days (as they think), they can regain that thing again but when they came to the market the situation was change and they stuck their funds in it and they face a huge loss.  So they suggest that someone can not invest all his funds in the crypto market but make some investments in the off-market also so if you can face any loss you have a Mother's investment and your work will go smoothly without any disturbance. So advise all the new and all the old persons to use the concept of Op in investing so you will be fine in both off-market and online markets.