I think selling valuables in your life just to buy crypto currency assets is a careless act, of course you don't have to sell your house or car, and buy Bitcoin with it, remember, now the price of Bitcoin is very expensive, different when in 2010, many people sold their house and bought Bitcoin, and now they have a huge profit, but now you might end up losing a lot if you sell your car or house to buy Bitcoin, Bitcoin will indeed have a higher price than it is now, and that's a prediction, but you also do not need to have a high risk
It is indeed an awful decision for OP's friend to sell his car, so he could invest or buy bitcoin because he believes in a prediction that bitcoin would reach $500,000 by the end of 2019. I assume that man is already upset from the mistake he had made, but I think he still made a good profit if he tried to hold until this year of 2020. However, if he tried to invest his money way back 2010, his decision was great that he could buy two cars and a house. 
Topic: Sell car for Bitcoin (Read 2098 times)
I think selling valuables in your life just to buy crypto currency assets is a careless act, of course you don't have to sell your house or car, and buy Bitcoin with it, remember, now the price of Bitcoin is very expensive, different when in 2010, many people sold their house and bought Bitcoin, and now they have a huge profit, but now you might end up losing a lot if you sell your car or house to buy Bitcoin, Bitcoin will indeed have a higher price than it is now, and that's a prediction, but you also do not need to have a high risk
This thread is a proof for someone who think they can become rich quickly if they buy bitcoint and they can survive till their death from the money they made is best stupidity. Invest on anything only if you have spare money or else just keep earning until you have free money.
I don't think there is anything wrong with the OP's to sell his car to buy Bitcoin. I still remember the wise words of Muhammad Ali; "He who is not brave enough to take risks will accomplish nothing in life". I have seen some people who are successful because they dare to take risks, although many also go bankrupt because they take risks..just an example; If you sell your car which is in the $ 5k - $ 10k price range and then buy Bitcoin in March 2020 (when Bitcoin is at $ 5k) then you are currently 2.5x profitable. so there is no loss if you buy Bitcoin at the right price..
I remembered this thread for the following reason: the expansion of electric cars and the pressure on the owners of gasoline cars. It seems that now it is really important to sell a car (especially if it is gasoline) and invest in something (not only in bitcoin), since the trend to ban/restrict cars with internal combustion engines is increasing 
This thread is a proof for someone who think they can become rich quickly if they buy bitcoint and they can survive till their death from the money they made is best stupidity. Invest on anything only if you have spare money or else just keep earning until you have free money.
This case seems to be inversely proportional to me, I in 2018 bought a car with bitcoin,
and in 2019 bought a house with the results of doing bitcoin too, my advice is, don't sell your assets to start investing,
bitcoin is very risky friends, if you buy Bitcoin by way selling a house, of course it can make your emotions not awake
and in 2019 bought a house with the results of doing bitcoin too, my advice is, don't sell your assets to start investing,
bitcoin is very risky friends, if you buy Bitcoin by way selling a house, of course it can make your emotions not awake
Exactly, selling our property to buy crypto currency is not at all recommended because it's extremely volatile and anything can happen in future. Do you think buying and selling property with crypto currency will one day become common place? No I am strictly against it.
There are lot of real estate companies who are ready to offer houses with BTC But it's highly risky and I really don't think it would favour us.
buying items using btc or any crypto is a hell lot better than selling items for crypto . you did really buy a car using a btc ? as in you use your btc ? to what site ? thats cool. i know theres alot of simillar offer of selling car , house for btc but im more curious to know if there are succesful buyers using thier btc/cryptos
its past 2 years now since your friend sold a car for btc, mind us telling an update in regards to your friend . do still have the btc ? or he already sold it before. its also 2020 now but no 500k usd has been reported but there are 500k local fiat value of 1btc right now to some parts of country .
buying items using btc or any crypto is a hell lot better than selling items for crypto . you did really buy a car using a btc ? as in you use your btc ? to what site ? thats cool. i know theres alot of simillar offer of selling car , house for btc but im more curious to know if there are succesful buyers using thier btc/cryptos
This case seems to be inversely proportional to me, I in 2018 bought a car with bitcoin,
buying items using btc or any crypto is a hell lot better than selling items for crypto . you did really buy a car using a btc ? as in you use your btc ? to what site ? thats cool. i know theres alot of simillar offer of selling car , house for btc but im more curious to know if there are succesful buyers using thier btc/cryptos
My friend decided to sell his car and invest all the money in Bitcoin as some people predict that 1 BTC will reach 500 000$ till the end of 2019.
He totally believes in it and tells that then he could buy not only a new car but a flat also.
He should done a thorough research himself before risking a huge amount of money. If he only done a research he should have know that the prediction is way off.He totally believes in it and tells that then he could buy not only a new car but a flat also.
Quote
Does it really worth it? He uses his car for his work and now he wouldn't be able to do this anymore as he thinks there's no need to work anymore.
It would be worth if if he only done the investment at the year 2017, but as of now Bitcoin is building up its price again.
This case seems to be inversely proportional to me, I in 2018 bought a car with bitcoin,
and in 2019 bought a house with the results of doing bitcoin too, my advice is, don't sell your assets to start investing,
bitcoin is very risky friends, if you buy Bitcoin by way selling a house, of course it can make your emotions not awake
and in 2019 bought a house with the results of doing bitcoin too, my advice is, don't sell your assets to start investing,
bitcoin is very risky friends, if you buy Bitcoin by way selling a house, of course it can make your emotions not awake
My friend decided to sell his car and invest all the money in Bitcoin as some people predict that 1 BTC will reach 500 000$ till the end of 2019.
He totally believes in it and tells that then he could buy not only a new car but a flat also.
Does it really worth it? He uses his car for his work and now he wouldn't be able to do this anymore as he thinks there's no need to work anymore.
He totally believes in it and tells that then he could buy not only a new car but a flat also.
Does it really worth it? He uses his car for his work and now he wouldn't be able to do this anymore as he thinks there's no need to work anymore.
Lol I just came across this thread. Seriously he sold his method to get to work in hopes of bitcoin rising. Talk about going all in. While I respect people who take chances in life, eliminating your ability to work and pick yourself up if you are wrong is the dumbest thing you could do. I mean I believe in bitcoin but there is always a good chance it will fall from here for multi reasons. 500k was a little off too
Cars are consumptive stuff, so in everyday life, it’s not so much needed. You sell it for investment, it’s an excellent decision. At that time, the price of bitcoin was at a low level. If you sell it now, you already make a profit. But if I had a lot of capital like you, I wouldn’t sell it, I’d wait for a higher price.
Despite the fact that the topic is already quite old, I believe that the idea is still relevant, when you can sell unnecessary things and buy Bitcoin for the proceeds. This is still the best way to transform unnecessary junk into a fairly promising investment, especially if you put them in long-term storage. One way or another, if the user has a goal to buy bitcoin, then it is better to spend not real money, but to acquire cryptocurrency at the expense of unnecessary things.
At the time on where this thread had been created.The price of BTC were just only $6400+ which basically means that his friend had already made out some profits
or almost doubled out the investment unless if he hadnt sold those coins if it goes below into that entry point.Well that was a good decision and it did paid off
even though he would sell it out this time around.
its always been wise to set out the best security and to look with those funds.
or almost doubled out the investment unless if he hadnt sold those coins if it goes below into that entry point.Well that was a good decision and it did paid off
even though he would sell it out this time around.
If you ask me, selling your car for BTC is not a bad idea. But just keep your Funds safe man, hackers will hack any cent they can find.
It isnt a bad idea but in terms of risk then its never been considered on the safe side.On hacking matters then theyre always there thats whyits always been wise to set out the best security and to look with those funds.
I know some disapprove of replying to old threads but I like the perspective and the consideration of the long term backing to BTC vs other assets here is interesting. The car is not an asset exactly, its a depreciating tool with utility that might be useful to the owner or not and thats the main consideration. Almost all cars in the last two years since OP posted will have lost a fair bit of value plus other costs where as the BTC from that point has appreciated and has been useful or a store of utility without exactly requiring a cost to keep it which adds to its value and allows it to be traded as an asset I think.
Back in 2018 it wasnt clear if we were reaching a reasonable point to hold, it appeared to be gloomy at the time. I think I diversified BTC into gold at that time, only a small amount but it seemed reasonable and yet BTC is a far more active asset and has outperformed gold though neither has done badly longer term. I much prefer to consider over time rather then most threads panicking on the latest sell or post froth from a sharp rise
Back in 2018 it wasnt clear if we were reaching a reasonable point to hold, it appeared to be gloomy at the time. I think I diversified BTC into gold at that time, only a small amount but it seemed reasonable and yet BTC is a far more active asset and has outperformed gold though neither has done badly longer term. I much prefer to consider over time rather then most threads panicking on the latest sell or post froth from a sharp rise
maybe for personal it is a good action because by selling a car that you own you can have trading capital to use trading in bitcoin and altcoin, I've read there are people who sell their homes only for bitcoin and after that the price of bitcoin becomes very expensive and the person is lucky can get a profit of more than $ 20,000,000 thanks to selling a cheap house just for bitcoin.
It all depends that if you sell anything and bough bitcoin and if price rises and you benefit then good and just in case if it falls then it is going to be a bigger problem because you lost money and now you may have to hold it or sell in a loss and again if required will have to buyback that sold item. So, if one can hold for long and does not require any specific thing then selling could be a good option.
Selling car for Bitcoin is a better choice, this needs to be done at the right time. Whenever the market is in the downtrend, selling car for bitcoin is a good choice. Already some has proven to the world selling all the belongings in exchange for bitcoin and profiting out of the same.
The thinking about the market growth and doing nothing is a bad choice. Already we're in the end of 2020. Op should take his friend to some refreshing centre and make him understand the reality of the market.
The thinking about the market growth and doing nothing is a bad choice. Already we're in the end of 2020. Op should take his friend to some refreshing centre and make him understand the reality of the market.
So, how did it go? Did he panic sell at $3500 in december 2018?
that is so cool
in my opinion selling cars and investing in crypto is not a good choice, cryptocurrency has a high risk, because cryptocurrency can decrease in a short time, but the choice is in your hands, especially at this time the price of all cryptocurrency prices have decreased. especially bitcoin.
Jump to: