Topic: Reasons why I might consider selling my Bitcoin. - page 2. (Read 830 times)

Well, the only thing that can make me sell of my bitcoins is only if something better than bitcoin is invented. A defi technology that is superior to bitcoin. For now, my bitcoin goes no where.

   
This is why it is good to have more than one sources of income because the monies from it come in handy during the rainy day. The lack of job security is the motivation for me telling people to have another source of income, a side gig, side-hustle. The one you do after your 9-5. It will give you so much rest and peace of mind.


If you are into bitcoin trading the last thing on your mind would be to sell your bitcoins for any employment opportunities because it is already a full time job. It gets even more difficult to sell if you have been making fair profits from it. It is enough to convince you of it potential to pay you more than any other paid employment. Also, rather than selling off your bitcoins, you may even want to buy more.


In my country this happened. I do not think any government in their right sense would arrest anyone for owning bitcoin. The only warrant to arrest anyone is when they place a ban on using bitcoin for any transaction and an individual is caught flouting such law. But to arrest someone just for owning bitcoin is like an infringement on the fundamental human rights of the person.

    

Yes these are few of my own choices and timings when I would go sell everything that I have in bitcoin wallet. However, I do have contingency plans for those situation where I’m already holding enough savings, health insurances, hood CIBIL score which is making sure that I’m getting good amount of loans whenever I need and also repaying if I’m taking any. This is securing my real world presence and that’s what I need so that I won’t be selling my bitcoins for long period of time to come. In all of them health is always priority followed by any family emergency.

Selling Btc to buy what you want is a bill but selling Btc because it's needed is a wealth. It's a tough decision that you have to sell Btc for emergency to cover up the life especially your family member. We can't bring back life but opportunities in Btc is always there. You can earn Btc in many way like mining, trading, and many more. That's why there's no need to regret on it.

I experienced it then, when I got sick. I don't want to withdraw some of my Bitcoin investment because I know that it will go up a lot and to earn a lot of money. But I can't borrow money, especially because I don't want to get into debt. So there's no choice for me but to sell some of my investments. I just wondering what if I didn't use my investment until this time, surely I became rich now.

One of the reasons to sell bitcoins is financial problems. Because in a difficult financial situation, selling bitcoin assets can be a way to collect fiat money and pay debts or finance operational needs and when we are sick. Apart from that I will keep holding bitcoins and try not to sell them. Basically, going back to the individual selling bitcoins, there must be a sudden reason.

Of course one of the other reasons to sell Bitcoins is to make a profit. If I buy Bitcoins at a lower price and the Bitcoin price goes up, then I will sell Bitcoins at a higher price and make a profit. Then when the bitcoin price drops I will buy back.

Well, many of my friends have sold their bitcoin for a loss, because they have been "bitten" by the global down trend in the economy. The interest rates increased... Petrol prices increased... food prices increased... Inflation increased.... and they need to scale down to survive.

I also sell or use bitcoins frequently... because I follow a 80/20% strategy to use or sell 20% of all the coins I buy. We have to... because Bitcoin will fail if it is not used by people. 

The reasons you mentioned are all valid.

Bitcoin is meant to be spend in any things you see fit or needed, it's your own money and you're the one who decides when, where, and what you're going to spend with it. There's no reason to hold back, especially when you made a decent profit, enjoy it and reinvest some of it. Earning money all of your life but not spending it is nonsense, there's no happiness in just earning money, you're just gonna burn out yourself and will end up in depression.

I agree, I mean in a way I can get the regret of those that spent their bitcoin on stuff they did not needed at the time as they were unaware that bitcoin will get so valuable so quickly.

But when you spend your money in something you really needed at the time, there is no need to regret your actions, since it is not like you had any other choice at the time and most likely if given the chance you will still take the same decision all over again.

I think you should not lock your BTC because, by doing this, you close all the doors to your own help whenever you need it, which is likely in most emergency cases. I hope that day never comes, but locking them up is not a wise option. You also said, you tend to use your savings instead of BTC, so why not use BTC the first time?

From your words, I can say you are addicted to doing transactions on BTC (hehehe) Well, maybe that's what it does. just kidding. These are the desires of humans, One of my friends also sold his for around $300 just to cover his expenses by selling at a loss. One thing I can not get is that, he was not even in the kind of emergency that a severe patient is in.

He does not sell them all at once, but instead in parts. I think that's why he did not notice that he was making a mistake. Well, all I can say, everyone faces severe conditions in their lives when they need money, but we should think wisely, and if we have no other option except of selling our BTC, then I think we should not regret our decisions because life is not the same for everyone, we all make decisions according to our lifestyle and mentality. So chill up, and earn more BTC.

You shouldn't regret that IMO, if that was a family emergency it's better to lose some Bitcoin than to lose or even get hurt a member of your family. Bitcoin can always be bought.

I agree, I won't sell my Bitcoin if there are no emergencies or the price is at a low price, but a few times I sold my Bitcoin when I need that to cover an emergency case in my family I end up regretting selling my Bitcoin. Right now I really lock my Bitcoin so even if there are emergencies case I won't take my Bitcoin from my wallet and use my emergency saving instead.

We invest and accumulate bitcoins also for the purpose of becoming rich and having a happy and prosperous life. So as long as bitcoin can help us in difficult circumstances and emergencies, there is no reason to hesitate without using bitcoin. To me, bitcoin has value only when we use it, it benefits us, not hold on to forever and never sell. I will accumulate bitcoin whenever possible and will not use it wastefully, but I will sell it every time I need the money, and there is no other way.

I'll sell some of my Bitcoin to buy a house, and I also plan to use a little bit to go into space once those flights become more substantial and cost a bit less so like next decade. I'll also eventually sell a little to diversify into stocks, and give some to family and friends. Other than that I'll just sell some any time I need money in life though ideally that would be pretty rare (I retired off my Bitcoin so it's perfectly fine if I have to sell some to live cuz that was the whole point of retiring early thanks to Bitcoin).

But really I look forward to the day when I don't have to sell Bitcoin and I can just spend it. I'd happily exist on a Bitcoin standard, moving any income I might have into Bitcoin and spending my Bitcoin directly. But we are a long way from that happening.

Yes you are right about that. I also didn't mean that I'm gonna hold it forever and not try sell it. Right now the only bitcoin I'm holding are the profits that I accumulated over the course of years (of course I tried getting some of my profits from time to time due to some personal needs), but all of those are already considered good ol profit. The main purpose of bitcoin is to be used as a currency and most of us are using that purpose, and it isn't something to be regretful.

Me too, bitcoin is money, and it is to serve us, there is no reason to keep it forever while our lives are in trouble. If there are difficulties, I will also not hesitate to sell my bitcoins as long as it helps me overcome difficulties and solve problems in life. Bitcoin is indeed a worthy investment and a valuable asset.

As for me, Bitcoin is not intended for forever holding as I consider having Bitcoin just like my saving so every time I wanted to sell them due to some important reason, it was there to save me and fill my needs. And OP has that kind of view, they'll never think about taking a loan and making debt but rather use his Bitcoin. May some people saying it was wrong decision but at least he did what is best for him than committing debts which in fact, there is an option for not doing it.

I do agree that some reasons can push you into selling your bitcoin, but from all those reasons probably having issues with your health, lost of the source of income, and having issues with government are the most particular reasons for someone selling their own savings/bitcoin. In my case as long as it isn't related to health of issues with the government I wouldn't sell my bitcoins and hold it as long as possible.

All have good reasons, for me the reason is because bitcoin prices go up very sharply and fall very sharply if you are in a position that has a little profit even if only for one day, then we will immediately let go for our reasons little capital so you don't have to wait for it to rise to a large number to sell it. different from the big buyers they can balance the market, moreover there are government policies that change.

I think those type of reserve funding is the greatest thing about bitcoin. Just this month, not even without investing, but my signature campaign income was just staying in my account and I wasn't using any of that yet, and the price went up again, and I made some profit, think about it, I didn't even invested, it was just my earnings which I did not spend right away, that's it, that's all I did, and made some profit.

So bitcoin as an investment is a great thing but bitcoin as a fund that you have on the side could also be amazing, possibly the best during bull period of course. Plus, if you are purely in the crypto world and all of your income is bitcoin, then you gotta sell some to pay for the bills and live.

Having the patience to keep Bitcoin as a long-term investment is a gift, because not everyone is capable of doing so.
So many people lose patience and sell their Bitcoin when they see the price is no longer rising or falling below the price at which they purchased it, even if they have nothing important to use the money for. I believe this is because they don't trust Bitcoin processes in this bear market.


Some decisions are made on the spur of the moment, and as a result, one has no choice but to sell their investments to ensure that everything is done correctly, especially since you mentioned health and other important physical opportunities.

However, it is advisable to have some money outside of investment for such personal issues; if one has enough savings outside of investment, he or she can deal with such problems without having to use any of his or her savings.

When the chips are down, the bitcoin you have in your wallet may be your last hope, your saviour. The list of reasons why one may consider selling off either some portion of all their bitcoins varies from one person to another and it is actually endless. For example, I once heard of a woman who sold her bitcoins to secure the release of her husband from kidnappers. Personally, I wouldn't hesitate to sell off my bitcoins in a life-or-death situation. I can always get them back no matter how long it will take.