This is why I sold my 0.67 BTC!! | Bitcointalksearch.org

Rosilito

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Quote from: xSkylarx on April 08, 2020, 11:52:44 PM

Quote from: Faysal Fahad on March 29, 2020, 06:25:34 AM

Hello Community! What’s going on? Hope you guys are safe & staying home! Basically, I live in New York (I’m an expatriate indeed) & you guys know the current situation!! We are suffering badly, although I’m not scared of! Last night I sold my loving 0.67 BTC, since I need cash money!
I believe, in near future when the situation will be normal, I’ll buy it again since I have no doubt on the future of BTC & its use case! Please guys, stay home stay safe & don't forget to pray for us.

This is not the time to save all your crypto. In a dire time like this do not hesitate or regret on what you have done. This is an emergency case and we all know how bad the situation is out there. You can always recover your losses, but you cannot replace life so you did a wise decision for you and your family to survive. I hope all of you guys are doing fine.

That's right it's about surviving from this crisis, if you don't have anything never hesitate to sell your assets as you can manage to recover that when
everything is already settled and the virus is already been cured.
Do whatever you can as long as you still alive chances still there for you to invest back and begin to collect your assets again.

Agree, man. There's no time on holding back for your necessities in times like this. Assets are nothing but a material, living must be on top of all your priorities or else you'll make your life worst. Beside, if we don't have anything left stocks, funds or etc... to start with then selling crypto assets in exchange for goods isn't a bad choice. And I highly believe as well that sooner everything would be settled for good, market and worldwide condition. Lastly, for short reminder keep safe ya'll.

xSkylarx

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Quote from: Faysal Fahad on March 29, 2020, 06:25:34 AM

Hello Community! What’s going on? Hope you guys are safe & staying home! Basically, I live in New York (I’m an expatriate indeed) & you guys know the current situation!! We are suffering badly, although I’m not scared of! Last night I sold my loving 0.67 BTC, since I need cash money!
I believe, in near future when the situation will be normal, I’ll buy it again since I have no doubt on the future of BTC & its use case! Please guys, stay home stay safe & don't forget to pray for us.

This is not the time to save all your crypto. In a dire time like this do not hesitate or regret on what you have done. This is an emergency case and we all know how bad the situation is out there. You can always recover your losses, but you cannot replace life so you did a wise decision for you and your family to survive. I hope all of you guys are doing fine.

GrayFullbuster

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Quote from: nelson4lov on April 08, 2020, 05:48:11 PM

Quote from: gundala on April 07, 2020, 04:36:57 PM

Fahad Good plan, friend. Your decision is right, the choice to prioritize the necessities of life rather than investing in a pandemic. It's not panic, it's the right choice. Hopefully, you and your family are fine there, we all feel the misfortune, stay healthy.

This is exactly my point. At this point, There's no need to blame anyone who sells their holdings in order to cater for themselves in this trying times. With most countries being on lockdown, a lot of people are not currently working, some have even lost their jobs. This means that most don't have income to live on until the pandemic is over and it doesn't look like it's stopping anytime soon. It's a good thing OP had some savings in form of bitcoin. It has come in handy on a rainy day.

There are many investors whi have having a hard times during this crisis and we cannot really blame them if they let go their investments. There are now many investors who selling their bitcoins because they need cash in order to buy foods for them to not be hungry. There are many people who losses their jobs because of this crisis and it lead for some people to sell their bitcoins.

Utoy101

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Quote from: Faysal Fahad on March 29, 2020, 06:25:34 AM

Hello Community! What’s going on? Hope you guys are safe & staying home! Basically, I live in New York (I’m an expatriate indeed) & you guys know the current situation!! We are suffering badly, although I’m not scared of! Last night I sold my loving 0.67 BTC,

Left to me, you made the nice move. The world is in total crisis and to be able to survive it, you need to have spendable cash with you which cryptocurrency so far dosen't fits in, so i guess selling it for FIAT is the only feasible means. I read everyday new york is in total lockdown due to COVID19, i pray the whole world survives this and give the scientists the wisdom to come up with cure ASAP. Stay safe buddy when the world finally recover, you can then think about investments. Personally, i'm planning on selling off part of my portfolio too.

DarkDays

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Well, the entire idea of investing in highly volatile assets like Bitcoin is that you should let the money sit for months or perhaps even years before taking it out.

If you can't afford to be without the money, then don't invest in highly speculative assets like Bitcoin. Although BTC has seen radical price movements in short periods of time, it has also seen long periods of decline which have rekt plenty of people who got in high and sold out low.

Let this be a lesson to anybody who thinks Bitcoin is a get rich quick scheme. It's not.

nelson4lov

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Quote from: gundala on April 07, 2020, 04:36:57 PM

Fahad Good plan, friend. Your decision is right, the choice to prioritize the necessities of life rather than investing in a pandemic. It's not panic, it's the right choice. Hopefully, you and your family are fine there, we all feel the misfortune, stay healthy.

This is exactly my point. At this point, There's no need to blame anyone who sells their holdings in order to cater for themselves in this trying times. With most countries being on lockdown, a lot of people are not currently working, some have even lost their jobs. This means that most don't have income to live on until the pandemic is over and it doesn't look like it's stopping anytime soon. It's a good thing OP had some savings in form of bitcoin. It has come in handy on a rainy day.

gundala

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Quote from: Faysal Fahad on March 29, 2020, 06:25:34 AM

~
I believe, in near future when the situation will be normal, I’ll buy it again since I have no doubt on the future of BTC & its use case! Please guys, stay home stay safe & don't forget to pray for us.

Good plan, friend. Your decision is right, the choice to prioritize the necessities of life rather than investing in a pandemic. It's not panic, it's the right choice. Hopefully, you and your family are fine there, we all feel the misfortune, stay healthy.

Don't forget to be thankful we still have savings, reserve funds, so we can survive in this condition. Many of our brothers and sisters out there are unlucky so they have to keep working even though this virus is threatening everywhere. The lesson for all of us, do not forget to set aside funds for savings.

Stedsm

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The worst part is, fiat if handed in the form of cash only and not contactless payments, can also bring your home this epidemic virus. Try to avoid cash. Here in India, a miserable scenario happened where a family was living in an apartment and someone rang their doorbell at 1:30 a.m. Now, they decided not to open the door as there was a stranger standing outside, so they kept it shut. Afterwards, in the morning at around 8 o'clock, when they were getting out to throw the trash in the bin, they saw a INR 500 note waiting for them just outside their door. This is ridiculous because when checked via the thermal machinery, it was found that the cash note was infected and someone was trying to spread the infection.

Zionatin

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Quote from: Mulann2 on April 07, 2020, 12:57:21 PM

Bro I don't think you owe anyone any explanation why you sell your btc, you bought on your own and you decided when you would sell for cash and in this case you have a pressing need of which many people in the world are facing at the moment, you should be glad you have some btc to sell, many people don't have anything like that and so they face hardship.

Yes, the virus is wreaking havoc on the economy. I feel very bad for many people who work in the industry and help make the product we use daily or at least often. Everything is just shut down. When I go to the shops and there are not many cars around it honestly makes me think of Apocolypse/armageddon or like there will be zombies are something since there so few people around. I often ask myself I wonder if this what it would be like if something even more serious happened. It is really scary. So I try just work and play games. I don't want to think of all the bad things the virus is bringing. I guess the OP had some reasons to sell so many bitcoin. They most likely had a debt to settle. The pressure of that and the fact of the virus caused them so sell probably.

Mulann2

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Bro I don't think you owe anyone any explanation why you sell your btc, you bought on your own and you decided when you would sell for cash and in this case you have a pressing need of which many people in the world are facing at the moment, you should be glad you have some btc to sell, many people don't have anything like that and so they face hardship.

nutoskaleo

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I wonder, will BTC price go down again or not? Okay, it's clear that we all can sell bitcoins (thanks God we have it in this difficult time) to buy some urgent stuff like masks, toilet paper, etc. But what is about investing? 7K+ in USD already... Looks like it's not the bottom. Then, what are your expectations regarding further flactuations of the price? How will BTC feel in crisis?

Pixyoxx

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If you sold it because you needed urgent cash then its okay, otherwise i would strongly suggest everyone not to sell their Bitcoins especially not when its already down. You should always hold your investment in these times. I urge everyone not to pani. Sell their bitcoin or any crypto they might give you huge profit in near future

TheAndy500

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Be it cash or BTC, best is what is required in current situation. OP needed a cash so he did the best to sold his btc. It is useless to prefer BTC/Cash or any other thing over our lives. There are many people selling there bitcoins because of current situation. Lets hope things get better with time and we continue our normal lives.

CarnagexD

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Quote from: Anonylz on April 07, 2020, 07:18:06 AM

i guess you did what you had to do in this current situation to survive, it must have been a hard decision for you but you must think of what is most important, the only sad part of this will be when you would want to buy back the 0.67 btc, by then the price must have been higher than when you sold, this crises has affected a lot of things especially peoples financial status, wishing best of luck to you and to the world during this trying times.

Today our goal is to survive the pandemic crisis first and by that selling your bitcoin for fiat currency or cash and buy a lot of things you need for the survival is a good decision because if you hold your bitcoin for a long time and you do not have enough money to buy a lot of things like foods or mask you cannot survive and then your bitcoin will waste too it is good to focus to our prioritize too in the world of the pandemic outbreak also if you have some time and the situation are okay again you can buy a lot of bitcoin as many as you want because there is nothing to harm your self too

panganib999

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It is not surprising at times of such because people would more prioritize the things that they need the most. It is a normal thing to do during emergency, investments would be more likely set aside. And this I think is the reason why the market value fell down recently. Many people sold their holdings in order to be prepared for what is currently happening. There is now a shortage of daily needs, in some areas. If your government is not that effective, you will only have your savings. I was actually planning to invest but have hesitated since I need to buy some stuffs to be used during the quarantine period, and the money I used was supposedly for crypto investment. But it would be okay, I'll just go with the plans when things start to be positive in order to assure everything.

Quote from: FanatMonet on April 07, 2020, 07:09:26 AM

Quote from: Free1bitco.in on April 06, 2020, 03:00:05 AM

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That is understandable because there are a lot of people who need the money fot sustenance right now. You should buy when the price goes lower so you can have a profit.

but I quite doubt the price will be lower, or under the price of $ 5000. but I think he sells the bitcoin he has in the $ 6k range, and that might be good enough. to be honest, the bitcoin he has is more than my assets, but if I were him, I would not sell all the assets that I have. Well, maybe a few percents is enough, and I might do it gradually.

In some situations, you have to sell a lot and immediately, no one can guarantee you that you can sell a little every day. Anything can intervene, you can get sick, even if it is not a coronavirus, then this is an additional cost, or some other significant situation.

Indeed, your investment would be worthless if you would die due to sickness, to be practical. We cann all back with our investment routine once things become positive and I hope that day would come soon. Stay safe!

Anonylz

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i guess you did what you had to do in this current situation to survive, it must have been a hard decision for you but you must think of what is most important, the only sad part of this will be when you would want to buy back the 0.67 btc, by then the price must have been higher than when you sold, this crises has affected a lot of things especially peoples financial status, wishing best of luck to you and to the world during this trying times.

FanatMonet

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Quote from: Free1bitco.in on April 06, 2020, 03:00:05 AM

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That is understandable because there are a lot of people who need the money fot sustenance right now. You should buy when the price goes lower so you can have a profit.

but I quite doubt the price will be lower, or under the price of $ 5000. but I think he sells the bitcoin he has in the $ 6k range, and that might be good enough. to be honest, the bitcoin he has is more than my assets, but if I were him, I would not sell all the assets that I have. Well, maybe a few percents is enough, and I might do it gradually.

In some situations, you have to sell a lot and immediately, no one can guarantee you that you can sell a little every day. Anything can intervene, you can get sick, even if it is not a coronavirus, then this is an additional cost, or some other significant situation.

KnightElite

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Quote from: Swordsoffreedom on April 06, 2020, 03:36:19 PM

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Quote from: Faysal Fahad on March 29, 2020, 06:25:34 AM

Hello Community! What’s going on? Hope you guys are safe & staying home! Basically, I live in New York (I’m an expatriate indeed) & you guys know the current situation!! We are suffering badly, although I’m not scared of! Last night I sold my loving 0.67 BTC, since I need cash money!
I believe, in near future when the situation will be normal, I’ll buy it again since I have no doubt on the future of BTC & its use case! Please guys, stay home stay safe & don't forget to pray for us.

That's good...don't hesitate to sacrifice what you have now because you need it.I like your spirit,very strong.Sure you can buy bitcoin again next time because i believe bitcoin will not disappear in crypto space. Bitcoin can wait but our needs in this very hard situation is very significant to provide.

Yes, agreed, it is very bad time for whole world. The current situation of New-York city is much worse. You know that American economy has suffered a lot due to covid-19 issues. Worldwide around 69000 people have been died by infected with this epidemic. So, we should be careful and prepared, stay safe and obviously stay at home.

New york is the states in the US which has the highest numbers of persons who got infected with COVID 19. Right now there are currently 130,000 + people in this states that are suffering to the virus. The creator of this thread is also part of the people who having hard time because of the community lockdown. I think it is also a good idea that he sold his bitcoin because they need badly the cash especially today where their lives are in matter. I do not know why there are replies in this thread that saying that it is not a good idea because they say that the price is still cheap but it is not the matter, we are talking about lives after all.

Meowth05

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Selling your btc at a time like this is very unfavorable to you because the prices are lower, I can't blame you though, there is expenses at this times of crisis.

w0lf0.

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I'm sorry but if you really needed it in this terrible period you did the right thing, I hope that in the near future you can get back what you had to use in terms of cryptocurrencies, good luck

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