There’s no one that can tell you what to do because those are you coins and the needs is also in your decision
But for me since you have emergency cash that you’ve mentioned,I guess you can have another option to think if will continue to trust bitcoin(the can bring you another card in future)or just sell them to cover the needs
Either way you will be the one to make it happen
Kindly consider holding Bitcoin mate because the future is near to achieve and cash can’t bring us those
Topic: Sell now at 9.5K or use emergency cash? - page 3. (Read 4241 times)
you do have your own problem but its funny that your still thinking of the adoption thing . just forget about the adoption . bitcoin is already popular now and will be more adopted in the future because your not the only one that hodls a bitcoin . there are way too many bitcoin users that are selling and buying btc ocasionally . when it comes to your own problem , you should better use the emergency money and not the btc because btc is down these days .
Yesterday I sold BTC0.055 for around $500 (less than 1% of my holdings). I was short of liquid cash and had the option of selling either my coins or the equities that I own (both the assets are down now). I chose the former. I am sure that Bitcoin will surge upwards during the coming months. But I am not sure how much time it is going to take.
I would definitely not recommend using your "emergency cash". As the name implies, that amount is only for emergency purposes. If you use up all your emergency cash, and in case the Bitcoin exchange rates go further down, then in the end you may incur even heavier losses. This is my suggestion, but you need to take the decision on your own, as it is your money.
I would definitely not recommend using your "emergency cash". As the name implies, that amount is only for emergency purposes. If you use up all your emergency cash, and in case the Bitcoin exchange rates go further down, then in the end you may incur even heavier losses. This is my suggestion, but you need to take the decision on your own, as it is your money.
We need more information. New cars can create more problems and expense. Buying a used car can take you down another repair route.
What is the problems with your current car? I don't know what a trigger belt is, but if you mean a cam belt, and your engine has an interference head, then you may have bent the valves. The only reason that I can think of for broken piston rings is piston slap, and the second breakage may have resulted from an incorrect repair the first time. It sounds like a high mileage engine, and I would consider an engine swop from a crashed car. It isn't as hard as it sounds if you go for the purchase of the same model of engine.
What is the problems with your current car? I don't know what a trigger belt is, but if you mean a cam belt, and your engine has an interference head, then you may have bent the valves. The only reason that I can think of for broken piston rings is piston slap, and the second breakage may have resulted from an incorrect repair the first time. It sounds like a high mileage engine, and I would consider an engine swop from a crashed car. It isn't as hard as it sounds if you go for the purchase of the same model of engine.
Your car breaking down is an emergency, so I cannot see why you are not dipping into that for this repair? Let's say the price of bitcoin skyrocket now and you sold most of your bitcoins to repair your car, then you will have to dip into your emergency funds to quickly buy bitcoins at a higher price to capitalize on the Bull market price?
I just paid a lot of money for the complete replacement of a head & valves that seized, so I share your pain.
I did not touch any of my bitcoins to pay for this repairs, because I am going to fund this repairs with the future profits I am going to make on the Bull market that are coming. 
I just paid a lot of money for the complete replacement of a head & valves that seized, so I share your pain.
I did not touch any of my bitcoins to pay for this repairs, because I am going to fund this repairs with the future profits I am going to make on the Bull market that are coming. 
If I'm in OP's shoes, the decision is very easy, sell some of my bitcoin stash because of my emergency situation. Actually it did happen to me once in 2017, something came up in IRL that I need to liquidate almost everything can to cover the cost of daughter's hospital bills.
But then, if everyone holds bitcoin and nobody spends it, how is it gonna be adopted?
What do you think? Use bitcoin or keep holding and use emergency money?
What do you think? Use bitcoin or keep holding and use emergency money?
there is that people that will buy and use bitcoin . mostly they are business owners and they are using bitcoin to pay for thier workers or to pay for other service while most regular people will only prefer to hodl thier coins . if your own an emergency scenario that financial is needed and you dont have any funds to use then i think its better to use some of your coins , you said you have eth then go use eth first if those arent enough then use bitcoin . cryptos can always be obtainable but your personal life is more important .
Of course, we all expect a good increase in the price of bitcoin in the fourth quarter of this year, that is, in the next month. Therefore, of course, it is not wise to spend your bitcoins right now. If possible, it is better to use other means of payment. Of course, if there is no way out, then there is nothing to be done. You won’t get anywhere from running expenses. In this market, we miss a lot of good chances and good opportunities. However, we hope that we will still have many such chances.
Use emergency money, you will lose a lot if you sell Bitcoin at $9.500. Be patient and keep calm, try to save a coin
Now it’s very unprofitable to sell Bitcoin, but if you do not have a way out and urgently need money, you need to sell Bitcoin for sure
usually you never invest all your money in different things, you should have kept an "emergency cash" at hand for this matters. not to mention the popular saying: "never invest what you can't afford to lose". but it seems like you didn't do any of that so the answer is sell some now disregarding the current price and what it might be soon, and try to have better plans in the future, have some emergency cash lying around so that you don't get stuck like this.
Hold your Bitcoins, it's better to use the emergency cash you have before turning your Bitcoin to an exchange. It's also not a bad decision if you're leaning towards trading your Bitcoin for a car to avoid the troubles of repairing it again in the future. If you don''t want to spend your Bitcoins for now then use your altcoins since you mentioned selling eth is another option. Without the numbers it's difficult to decide but if the repairs on your old car is costly then buying the car from your friend is probably the solution.
What do you think? Use bitcoin or keep holding and use emergency money?
Nah, don't be confused about what to do.
If you need money for "necessary" things don't hesitate to convert your BTC if you currently DON'T have any choices to cover your expenses. If you can live or work properly without a car, then that's good to save your precious BTC. You have mentioned that you have emergency cash if that's enough to cover the expenses then good used it first.
Going to your concern about the car, analyze the cost of replacing Piston Rings and labor fees. Also, consult with other mechanics to have their second opinion. See if it's worth to spend for replacement or just add a bit for working second-hand car. Consider also how old the car is. Both of your BTC and emergency cash is at stake here so see if it's worth to spend it for replacement.
Bitcoin has a great future but you don't need to overreact to the point you won't sell anything even if it's badly needed. You can re-purchase BTC anytime if you really believed that holding for long will be paid off.
At what price you bought the bitcoins that you are holding today? we're holding because we want to use and profit on it in the future and I think the right time came for you. And if you are in this kind of situation and you have no other option or spare money to spend.
You have to do the right thing, if I'm on your shoe, I'll leave an acceptable amount for my stash and won't sell all of it. But if the case is different and it requires you to sell all of it, I guess you need to do the right thing although it may be hard for you.
You have to do the right thing, if I'm on your shoe, I'll leave an acceptable amount for my stash and won't sell all of it. But if the case is different and it requires you to sell all of it, I guess you need to do the right thing although it may be hard for you.
Car insurance would have covered this up if you had one.
Nobody is against one spending their Bitcoin, its just that sometimes, when you sell low, the price might increase then it becomes a lose.
My suggestion; you should choose from either repairing your car or buying a new one. Don't do both at the same time. Most times, we don't gratify all our immediate needs all at once but gradually. And instead of spending all Bitcoin at once, take some funds from Bitcoin and some from the emergency money to solve your problem. This way, you won't be losing totally.
Nobody is against one spending their Bitcoin, its just that sometimes, when you sell low, the price might increase then it becomes a lose.
My suggestion; you should choose from either repairing your car or buying a new one. Don't do both at the same time. Most times, we don't gratify all our immediate needs all at once but gradually. And instead of spending all Bitcoin at once, take some funds from Bitcoin and some from the emergency money to solve your problem. This way, you won't be losing totally.
There's no problem if you have to use your BTC to fix your car, or to buy from your friend, it's an emergency and everyone is susceptible to sell BTC for this kind of situation
You should be glad because you have the money to do all of this, and you can get money after that
You should be glad because you have the money to do all of this, and you can get money after that
I would use the emergency cash or sell the Ethereum.
Or another option is fix your car and then sell it.
I don't know if it's an option, but can you use a push bike for transport instead of the car?
Personally I prefer to go wihtout the luxuries so that I can invest in my future.
I put my investments as my top priority over everything else, because I know I can make the money for essentials like car repairs, food etc.
We will always find a way for these things.
But if you don't put money away for your investments then you will always have an excuse for not saving, or for dipping into them.
That's just me though.
Also I wouldn't use the excuse that Bitcoin needs to be spent to increase adoption, that stage will come, but Bitcoin is too volitile to be used as a currency in the next few years.
It needs to be a reliable store of value first, and then a currency much much later.
I wouldn't think of it like you are going to be spending $9.k, I would think of it like I am spending $100k, because time is going to fly by and that Bitcoin is going to be worth 100k.
Or another option is fix your car and then sell it.
I don't know if it's an option, but can you use a push bike for transport instead of the car?
Personally I prefer to go wihtout the luxuries so that I can invest in my future.
I put my investments as my top priority over everything else, because I know I can make the money for essentials like car repairs, food etc.
We will always find a way for these things.
But if you don't put money away for your investments then you will always have an excuse for not saving, or for dipping into them.
That's just me though.
Also I wouldn't use the excuse that Bitcoin needs to be spent to increase adoption, that stage will come, but Bitcoin is too volitile to be used as a currency in the next few years.
It needs to be a reliable store of value first, and then a currency much much later.
I wouldn't think of it like you are going to be spending $9.k, I would think of it like I am spending $100k, because time is going to fly by and that Bitcoin is going to be worth 100k.
I think you should still fix your current car, wait until the price goes up and buy a new car from your friend. If you decide to exchange Bitcoin for a new car at present is the wrong decision. Prices may rebound to $ 11,000 in the following days. Think carefully before making your decision. I believe you will make the best choice.
But OP does not have cost to repair car, damage to piston ring requires a very expensive cost, therefore OP wants to sell its BTC to repair car. I think OP's decision was right, car was too old to be used, it should have been replaced, if it continued to maintain its old car same thing could have happened because OP had experienced something similar second time.
OP is right because we can sell our BTC when things are urgent, daily needs are more important. I understand what you mean by that BTC might return to $ 11,000 but BTC is currently just break in support area and I think it's better to sell BTC for more needed things. If OP have leftovers, it's better to reinvest.
Personally I'd ditch the car and buy a used one with way less problems than the one I currently have. Normally, bad piston rings often stem into more engine problems and you may have to replace the whole engine as a whole or get the top part overhauled (which also costs good money, somewhat on par with a used car) and if you're on a budget, that's definitely a no-go. I'd rather sell my bitcoins to fiat and just hope for the best, at least I used the coins into a useful cause compared to just having it sit there and hope that something will happen. Also, it will be one of your first purchases/expense with bitcoin (in a non-direct fashion) so it's a good thing. Emergency money should never be used in situations such as this, that's why you call it 'emergency' for a reason.
Also, this is more of a personal financial advice rather than a bitcoin-related matter. Take what I said with a grain of salt, and the final decision would always be yours as it is your money.`
If I would be in his position, I would probably do the same thing as mentioned above.
Buy a second-hand car with good history rather than trying to fix his old car that might cost him more later on/buying a new one.
Buying a new one might not be practical at his present situation.
And as someone also brought up, I think there's no problem selling his bitcoin if he bought it at a much lower price than 9.5k, right?
He already gained profit and he is addressing his daily issue in terms of transport. So I guess, he's already in the win-win situation.
I have some emergency reserves but I honestly don’t want to dip into that, even though my instinct is on using the emergency cash and then replacing it as soon as humanly possible. But then, if everyone holds bitcoin and nobody spends it, how is it gonna be adopted?
What do you think? Use bitcoin or keep holding and use emergency money?
What do you think? Use bitcoin or keep holding and use emergency money?
i don't mind selling some coins here and there, but as a swing trader, i try to time my sells optimally when the price is high. in contrast to now---we're 2+ months into a bearish correction and 31% down from the highs. based on the monthly trend, we're probably gonna be testing $20k in a few months, so i'd hate to be selling now. so if it were me, and it's safe to dip into the emergency cash, that's what i would opt for.
don't worry about the larger philosophical questions of how hodling vs spending affects adoption. bitcoin was designed around human rationality, so let's just stick with that.
Jump to: