Topic: Reasons why I might consider selling my Bitcoin. - page 4. (Read 830 times)

I'm not sure something like that could happen, and even if it happened, I don't see a reason to sell Bitcoin, because you can still store, buy, sell without getting noticed by the governments. Some countries have already banned Bitcoin, like China, Morocco, and Egypt. However, a good portion of the citizens of these countries are still using Bitcoin. What makes me worry about this situation is that if you lose your coins in a theft process in your country, you can't file a claim to restore it.


Bitcoin prices won't stay at these levels forever, so selling at low prices to migrate to another country could be a bad decision as you won't be able to buy at the levels you sold at. We know that Bitcoin's price is too volatile and it could double in a matter of months or so. Therefore, I don't recommend selling Bitcoin for this reason.


This is a good reason, in my opinion, as education always pays off in one way or another. However, for this reason, if it was possible to take a loan, that would be better than selling Bitcoin, but not all countries offer this kind of loan.
All of us strive to collect more Bitcoin, but I think we are limited by time, because Bitcoin could rise up fast, leaving us behind with a missed opportunity, thus coordinating our future plan with the expectation of Bitcoin prices and according to the Bitcoin cycle path, might help in this case.

I have actually gone through your highlighted points and I would sell my BTC for this. Health is wealth and what's the point of hoarding onto bitcoin and choosing not to spend it at the detriment of your health or the health of your love ones? This is a very good reason to sell and seek medical attention or get the best treatment.

Well... If I'm out of job and I have some bitcoin somewhere that I can sell and alleviate the suffering of my family I would sell it. I can't see my family hungry and do nothing about it.     

Your reasons aren't far from what an individual with a thinking mind would do. I think it would be dumb to have an issue that your capable of funding from your bitcoin portfolio and then, you take a path towards getting lones so as to avoid selling some of your coins. Health though would be one heartbreaking way to go as its just another expenditure and comes without any reward except for your well being and some more time to replenish/enjoy what you've worked hard for.

One point you made is where I am confused if, its actually virtue or its you just stating the possibility but, it is;
When you say should government ban bitcoin, this implies that the ban is already in place and transacting after that would be committing the crime you hope not to (being in possession or trading bitcoin). Its anonymous and comes with lost of privacy, exchanges has a privacy term to consider and I don't think you've committed any crime by owning what hurts no one. Especially when, you didn't earn them by some scam. I might as well take the risk, hope they never find out or in a way, it would aide to hold even more better.
I would hate to see a government coming back to cover correct some mistakes in the future after making someone lose an investment that could have been for a lifetime of fortune.

Aside from FUD, all reasons for selling a portion of your portfolio to me is justifiable. It's your money after all, so by all means you have the full authority and control over where it gets spent or where it goes. Taking other people's opinions and advices are only secondary. In that regard however, you couldn't really say I could just sell my bitcoin, or my investments for that matter belligerently, of course I gotta gauge myself before I make that heavy decision.

I do have a couple, here are they:

1. Short on funds: If I feel like I'm gonna need a little push to be able to spend on stuff I want to, I may borrow a couple from my investments, then repay it once I get the money back.
2. Financial collapse: If the market crashed to the ground, You can bet your sweet bippy I'm going to be one of the first to cash out on my investments, I'm not gonna be a visionary who thinks of profit at the time of crisis lmao.

When someone has made bitcoin as an investment asset, he cannot hold bitcoin forever. They must be able to decide when to take profits and when to reinvest in order to achieve their investment goals.

Of course there are many reasons why someone would sell their bitcoin. Some of these reasons have been mentioned in the OP and each of us also has our own reasons which can be different. Most are out of necessity, while others take advantage of the moment to profit from each price cycle.

Health reasons, buying daily necessities, and loss of income sources could make me sell bitcoins to survive because having money can help us survive. Even though we didn't want to sell it at that time, but because of the pressing need, we had to keep selling it. And I think that's what people will do, especially if they don't have any money. And that is the reality that we must face in investing in any field because we are in a situation like that, we seem to have to fulfill it because it concerns our lives or our families.

An investor is forced to sell his invested bitcoins at some point, he never agrees to sell his invested bitcoins without special need. Suppose I am forced to sell the bitcoins I have invested only for my physical and special family needs. I haven't wanted to sell my bitcoins yet but I will definitely want to sell them if my wife and children need them in the future. I invested in bitcoins in 2021 when the bitcoin market was fairly bullish but if I wanted to sell those bitcoins now I would face huge losses. So I won't sell my bitcoins unless I have to.

Not only you, but many others will also sell their coins for these above reasons. I mean why are you investing or trading? To earn extra income right and to make your life more easy?If the saved money isn’t useful for the mentioned above reasons, then what’s the point of investing. Moreover you also need to consider that sell the coins when you don’t have any other options left. The reason for which I am emphasising this sentence more is that, due to the availability of the coins. Bitcoins are very rare as they are limited in number. So there are high chances that when the time will pass, the price of the coin will increase.

Both of these reasons aren't enough for me to sell my Bitcoins... or I might depending on the reasons.
Why?

Because I have emergency funds that's enough to cover these 2. For Health Issues, I think I've had enough money that's I have been saved to cover enough, but if the worst thing comes where it wasn't enough, then I might sell a portion of not just my crypto holdings, but other assets as well to cover the bills. As for the Loss of income source, like I said I have emergency funds that's enough to cover me at least a year even I don't have any income source. I think that time horizon is enough for me to find another job.

This isn't applicable for me since I'm not a business-minded person, but for sure, there are some who already took some profit and sold some of their Bitcoins so that they will have money to be used if they want to make a business.

We in our country are quite lucky that our government is just neutral on cryptocurrencies.
What I mean is that, we don't hear any positive things on him that is related to crypto, but at the same time, we aren't hearing any negatives as well unlike in other countries where they are imposing a ban to use cryptocurrencies.

Same as you, I also think that the 2 options that you said are the only reasons why I will sell Bitcoins, but overall, selling Bitcoins is my last resort in case I'm in need of money. Maybe my only concrete reason as to why I will be selling my Bitcoins is to just take profit, re-invest or buy something that will generate me more money.

Health is wealth,  health should be the first priority of man, it is something you don't have any option but to sell your bitcoin or anything just for one to be alive. To every serious investors that is dedicated to investing bitcoin I pray health issues doesn't come up that will make us change the investment plan. I think what makes people to sell their bitcoin is when they lose their only source of income and they have no means of income, that is why it is wise to afford only one can invest and to get other sources of income.

I think I can find couple of reasons that would cause me to sell my Bitcoin. First is probably I am getting broke and unemployed as everyone already said. No need to explain. One without proper income would need to sell Bitcoin.
If I need a car I also need to sell some of my Bitcoin. Cars are very expensive in my country so its very hard to get one without credit from bank. So I would probably sell some Bitcoin to get a car in easy way. Otherwise I wouldn't feel a need to sell Bitcoin (s).

Just as we are working to create our fortune, so we must monitor our health, but you are right, no one knows what may lie ahead, so you need to be prepared for everything.

I don’t need to bring it to the point of selling investments, I have long determined for myself that I want to create some kind of business, or even several, maybe it won’t be a big business, but it will be enough so that my family does not need anything . Everyone has to decide for himself what it will be for him, but I would advise everyone to create an additional source besides work, never rely only on work.

Sometimes a hobby can become your main source of income, try to do what you like, create new sources of income and then you will never have a situation that forced you to sell your bitcoins.

Well looking at the graph and patterns
. Bitcoin is quite ductile and will always be relatively relevant. So holding on to it will be very wise

Apart from emergencies, I will sell bitcoins, if I find something better than bitcoins, I will also sell my bitcoins to switch to it. We invest in bitcoin because it's better than other assets' other investments, and if there's a better chance, I won't hesitate to switch. Our ultimate goal is to earn a lot of money and to be financially free, so I think we should not be too conservative, always seek and accept new things, and constantly challenge ourselves to get better results.

In my opinion, this is basically according to your goals in buying bitcoins so that you have the right reasons to liquidate the bitcoins you own. There are those who make bitcoin as an alternative investment, hedge, currency and others, of course, everyone has the right to own and liquidate the bitcoin they own. The reasons you gave are clear and of course I will definitely do it because basically bitcoin is just an asset for me for some advantages in life in terms of financial.


Yes it is the right decision to have such a plan and I'm sure the people here also have the same expectations, but it's different if the position is urgent and maybe we have to sell all the bitcoins we have to cover it and I don't think it's a problem if do it.

P2P is the solution in that case, but it is also not safe, especially when you hold a large number of bitcoins, if the policy in my country is too strict and the penalty is too heavy, I will take a closer look. Holding in private is probably the only solution that I think we should do. The choice to move to another country is really not worth it, bitcoin is not the only asset or the only tool to make our lives better. Leaving your homeland behind and leaving your loved ones behind just for the sake of holding a few bitcoins is not worth it.

I kinda doubt that most of us want to sell our BTC as soon as we see it go green. There are only 2 reasons for selling my Bitcoin - emergency or when BTC goes wild and hits more than $100K.

You can't force yourself to not sell your assets if the situation around you calls the action to sell your assets or something urgent happens to you. It's okay to sell your assets, because you can just pretty much buy it again once you have the funds to afford. It's your assets, so it's pretty much free for you to do anything with your assets as long as you know what would happened and responsible with the action you have done.

Those are very good point you just made @ O.P, of which I too will likely do the same by selling my Bitcoin if I'm pressed with any of these challenges except this very one mentioned above. Because I believe government policies literally has nothing to do with Bitcoin because of its decentralized nature whereby it can be bought and sold even on a decentralized exchange such as "bisq" in places where Binance or coinbase might be prohibited into a dollar account, (e.g Paypal) and then later converted into your local fiat currency such as "Chinese yuan and Ghana cedi"

The only reason I sold my Bitcoin was when I didn't have reserve funds or cash during an emergency even though I was in a loss condition, it's not easy to keep our investment in bitcoin when circumstances urge us to do so. That is why investments are only made carefully and the money used is really well calculated and when we have a long term target for Bitcoin that we have then we should try to make a living with existing income without thinking about the benefits of keeping BTC, because seeing our assets go up is not profit until we actually convert them into fiat