Topic: Sell now at 9.5K or use emergency cash? - page 2. (Read 4241 times)

That's pretty much a given, unfortunately.  It's happened to me quite a few times, which is the reason I've never made any money with bitcoin.

If you have emergency cash, I'd go with that and try to replace that cash as soon as you can.  A lot of people fall into the trap of investing more than they reasonably can, and they end up in situations like yours where they need the money for mundane expenses.  Take this as a lesson to always keep cash handy for car repairs and other things that tend to crop up.

And hey, if it's at all possible for you I'd recommend ditching the car altogether and getting a good bicycle.  I realize that's not an option for a lot of folks, but owning an automobile can end up being a cash sink.  Gas, maintenance, insurance, and everything else just end up costing you a lot of money over time--and that's all money that you could be saving.

While that's certainly true, the market is still pretty bullish.  I do think the price isn't going to stay sub-$10k for much longer, and OP might miss out on some sweet profits.  I could be wrong, of course, but that's my thought.

It depends on many things and especially the price you paid to get your Bitcoin. If you have already some profit from it, probably, it is better to sell BTC. No one knows if this cryptocurrency is going to grow or fall now, and if you need to fix your vehicle urgently, you should do it.
The reserve money can be also used, but you should compare all possible pros and cons of both choices.

i sold a little in the past to pay for unforseen cash needs and sometimes was a good move others no.. you never know..
if you are not comfortable in selling btc / eth sell only a part and use also some emergency cash

I am 100 percent sure that bitcoin will go up a month or two before May 2020!. This is just passing the winter and be done with it.
The custom shop is changing the engine, putting up larger piston rings and changing the parts from stock to strengthened, kinda like what you have in race cars. He said it will never give me this problem again. But then, he is not changing the turbo and I am not so sure about that. Anyways, I plan to hold on to the car for a couple more months, or until February-March 2020, and then if I have more money, I think I will sell this and get a Suzuki, no turbo. My earlier mechanic said they are as solid as it gets. Although it sounds like a girly car, I think it is better to have a car sounds girly than a car that sounds manly but breaks down every two years.

Basically how sure are you that Bitcoin will go up in the future? Are you 100% sure. Then just sell the portion you need to pay for your repair bills and at the same time use a exchange which has margin or future trading and just go long that exact amount.

Basically if you sell 1 BTC at $9750 to pay for repairs and buy your kids books then go long 1 BTC at $9750. And then if it moons you will make the same amount of money as you would otherwise.

However I don't recommend this because you might be wrong, BTC might not go up in the future and you will be forced to deposit more BTC or get margin called.

Best solution here is to fix the Opel, sell it and buy an old Honda Civic or Toyota Corolla and you won't have any car issues again. In the future don't buy turbocharged cars they are more problem-prone just get naturally aspirated engines instead.

Its good you can exchange the Bitcoin to a friend for what you need.   That changes everything to me because you maybe can reacquire some of the Bitcoins in future from the friend similarly without fees and outside interference in the exchange between you two.    That is fairly ideal, however the other side of the transaction is make sure you actually want that car.   Don't just be swayed by that offer as its convenient and nearby.
  Also if you need the car then its fine to sell, I dont really agree with hold no matter what if you need this to do your job then what choice is there really.  None of us can truly know future price for sure, I honestly think it will take a couple of years for this situation to develop but others think 2020 with the block reward halving is it.   From my previous experience I think you have time still and halvening is not some perfectly pivotal moment in BTC history, its part of the picture.

Oh, sorry, I read that big post where you quoted the question about the car brand but did not answer it. Missed the next one somehow.

About that car. Now I know why you're having trouble. You bought Astra J with ecotec engine. This engine has some design flaws and is one of the worst things you could get in that price range. That's why next gen Astra K no longer has ecotec. There's not many things worse than that. Maybe early VW tsi engines.


Old opels like the calibra were ok. I'm sure some of the tuned ones were chick magnets in the 90s 

Opel is not a car, is a monument to losing your manhood

I wrote about the model and everything two rows above your post, check out my #38 please, you will see it.

What car do you have? I would appreciate knowing a brand and model of something that destroys piston rings so often. I have never had that failure happen in my life to me or anyone that I know. Maybe the cylinder is scratched or there's not enough lubrication

If you have some emergency cash on the side I would use that to pay the bills. Cash is inflationary so it's losing value. You shouldn't keep a lot in fiat. Better to buy gold or fix your car.

The answer would really depend on you because not all people do have the same situation as yours and in fact its been always part of our life on having that kind of emergency situation where we wont have any choice but to get some portion of our holdings.The question is, would you compromise your childs education because you just want to hold bitcoin? Would you sacrifice yourself on commuting because of that? Your choice if you do sacrifice but it isnt actually that bad to spend those coins we hold on.

Bought my Opel 1.4 turbo back in 2014 as a brand new car. Should have bought bitcoin instead THe car screwed me first in July 2017 by breaking the piston rings and the Turbo. The engine bed was fine, so the OFFICIAL service changed these parts with standard parts and gave me a 2-year warranty on parts. The car broke down with the same problem in August 2019, only one month after the warranty ended!!!
So, I sincerely doubt that I will be purchasing another Opel, which I originally bought because I trusted German engineering.
I still don't have my car back, and we had to take a bus to go to a concert. I am hoping next week, fingers crossed.

You have a reserve right... And if you believe bitcoin is a good asset to you , what do you then think about tomorrow, the future. Your reserve may not increase a dime in that bank or hole you dug in your back house to put it but bitcoin can definitely.
Is your decision to do which you think in your mind and looking from above post too.

Piston rings my ass. I'm no real mechanic but.... Unless your car has at least 300000km this is bullshit.
Unless you drive like a real lunatic. Added sand to your oil. Or have no air filter I find this hard to believe.

If you have low compression then I would be looking for a new valve gasket or at the most a main engine gasket.

You bought Bitcoin in range from €3500-€5000, and today is €8750, so you can only profit if you sell now. Since you need it for something that is necessary, I don't see why you have any doubts at all. If you think fiat is worse then Bitcoin, then spend fiat and keep crypto for another time.

I do not know where you live, but can't you make account on Coinbase and buy at normal price, if your local exchange is have high fees and higher prices than regular ones? Don't live in the belief that you can get the banks out of your life, you get your monthly salary in bank account, and you probably pay your kids private school with your bank account.

True.
There is a need for usage so that it can circulate more.
Yes, there might be still a lot of spare out there but it feels really good when you are using something different in a store full of people.
I guess that is just me. I want to be different than anyone.
That might also be the reason why I am here.

Soon, it should be usage that should be pushed and not just investing.

I bought back in 2017 when it was between 3500-5000 Euros and never sold one satoshi. Only sold eth and others for converting them to bitcoin.

It is not an option. We will be taking the bus until the repairs are completed, which sucks ass. We are happy that kids books aren't in the calculation for now, but we will need to get that in a week or two I believe.

I understand your point of view, but I am in between two holdings. One is my investment, as in bitcoin, and the other one is my emergency cash, in the form of paper Euros.


I understand this, and kinda agree with it. The only problem is that it is kinda expensive to get the bitcoin I sold not only due to high fees and sending money across banks but also because I have been trying to keep stupid banks out of my life. So, if and when my situation gets back on track, I may have hard time getting my bitcoin back. That is the reason I am having hard time deciding. Being a Libra does not help either (we have hard time deciding on things.: https://www.allure.com/story/libra-zodiac-sign-personality-traits)


I agree with some of the points other posters are making, but this sounds convincing. Yes, I think car breaking down is an emergency. I gave them a call today and they are still working on the damn thing. The shop had to send the engine to another specialist shop and they are waiting for the engine to come back. They will be adding larger and stronger piston rings, so it will be a custom job to make the engine being able to withstand more power.


Sounds good to me. I am not a day trader, but I think my feelings on not selling are correct.

Decision making is very crucial as there's always a doubts when you are really a supporter, basing from what OP's statement he's not a short term trader but a investor who loves to hold, he's fear to see the bounce makes him very afraid selling his coin as potential to rise back is really well anticipated, if you do have spare money and you are aiming to maximize your profits, best to use your spare money and keep holding.

I suggest that OP should make selling his cryptos his last option and when all other avenues leads to nowhere only then should he consider selling his Bitcoins and he claims he has some ETH,  I suggest that he either borrow money from somewhere or sell some of his ETH for his current situation.

You have a bad investment plan, your situation now should not affect your decision making with your holdings, because when you bought BTC or whatever coins you are also holding now, your main purpose is just to sell it as profit.

Don't be force to sell, I suggest use an emergency funds if you have or just borrow money.
Never touch your investment in emergency situation as it's a bad idea.