This is why I sold my 0.67 BTC!! - page 5.

btc_angela

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Quote from: mk4 on March 29, 2020, 07:15:53 AM

Quote from: carlisle1 on March 29, 2020, 07:08:59 AM

Why not take Loans instead?i mean other option than selling your LOVING BTC as you have said because there are Help from each government for the affected of this pandemic?

Not sure if I would suggest taking loans in this situation. We have no idea how long this pandemic will go. What if it stayed for like half a year? The loan would have then accrued a good amount of interest. I believe OP has taken the right decision here. It's not like there will not be another opportunity to invest in bitcoin, there's a lot of time for that once things settle down.

I agree, that's the worst advise. So I guess OP has no option at this point but to sell off because he needs to buy some stuff in order to survived in this worst situation. The good thing is that the OP have sort of save or invest some money into it, so in cases like this, he can liquidate it as fast as he can, because he is an expat in a city wherein it is being hit hard by the pandemic.

kryptqnick

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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.

When one needs cash, it does not make sense not to sell BTC. I heard of Trump's $2 trillion package and that every adult will get $1k, but for now it's talks and people are dying. Stay strong and healthy, I hope you'll manage to buy BTC once again while the price is still low. It's good to hear that you believe in Bitcoin and are not selling in panic but rather out of need. I've made a post recently about selling some BTC as well because of the situation and needing money, so I totally get and support this decision of yours. Good luck!

Quote from: ?? on ??

Wow, thank you for the post. It explains that people who sell Bitcoin now in most cases aren't panic sellers. They are just too exhausted. Anyway, never say die. I hope you will get your crypto back one day.

A few cases of people actually needing money and selling Bitcoin for this reason does not mean that it's why the majority is doing that.

thesmallgod

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Be safe bro. It is sad to see people getting sick day by day from this outbreak and with the current cases being recorded in United State, there is no way someone will not be fearful of what the future holds for him. I am very sure you find it difficult to sell all your coin but I think you make the brave decision. It is when you are alive that you will be thinking of having money somewhere. I pray this virus to go soon

valuater

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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.

I also experienced the same thing where some bitcoin that I got was forced to sell for the needs of the lockdown that is currently running in my country, but indeed this is also one way to be able to survive with the plague that is still spreading.

But from the positive side, although the COVID-19 outbreak continues to spread, the price of bitcoin itself is still quite stable.

From here at least we can know very well that bitcoin is very powerful to be dropped.

bL4nkcode

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Heard you man, just stay safe.

While I see some people who want to be safe and be prepared, I saw some who doesn't mind the situation they are in
https://twitter.com/keeltyc/status/1243650632692662272

If you don't want to get infected, stay at home.

Quote from: Cryptoheavy on March 29, 2020, 08:34:49 AM

Are you sure that situation is so terrible that you need cash? Maybe crypto card will be better solutions?

Crypto debit cards might be good, but afaik, every atm withdrawal is charged, so it will be an issue here.

Vishnu.Reang

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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.

What to say? Ideally I would have asked you to wait for a bit longer, but I am also getting skeptical now. Global economy is inching towards the deathbed and within a few days the number of COVID 19 infected will cross the one million mark. The total death toll is now more than 32,000. Here in India, we are under a strict lockdown and it will continue till April 14th. A lot of people have lost their jobs and there is a gloom in general. I would say one thing at this point. This is even worse than the recession that we had in 2008-09.

Raflesia

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Needs are most important what else when conditions like this we are at home continue to certainly require costs and money for other needs by selling your btc at current prices I think that's enough and someday will definitely come back to buy more.
Well, it's good that you believe in the full future of bitcoin because bitcoin will continue to be on top when it recovers from this pandemic.
But right now I am not insistent on finances so I will continue to hold bitcoin until I recover to ensure future prices.

NeuroticFish

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People usually don't need 4000$ in one shot. Maybe OP did need that much, I don't know.
Normally if you have to sell this low, it could be better to sell only the smaller amounts you need for a couple of days/weeks.
I don't want to judge, I just try to give ideas. Of course, if Bitcoin will go lower, it was a good move. So everyone has to decide for himself after all.

Cryptoheavy

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Are you sure that situation is so terrible that you need cash? Maybe crypto card will be better solutions?

enhu

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The cash is badly needed this time of crisis so good to stay alive then having the BTC while your suffering. Think of today and what will happen to you today before thinking of what would happen to you in the next months or years. Good decision, who knows that price could go below $4k soon and you could buy back after the deadly crisis.

Fundamentals Of

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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.

Oh, that is a little bit sad parting from those loving BTC! Well, what can I say? Times are getting hard for now, for all of us almost all over the world. But this is definitely temporary. As soon as this pandemic is gone, we will be back with a much intense appreciation of this life and the world and the little moments within. Those BTC will be back on you very soon. Stay healthy and keep yourself safe!

joinfree

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ouch! sorry, the pangs of life had to squeeze your hands to let go of such a GEM but then again, man must feed and take care of his family too. That's the right decision you took @OP because i know New York is one the states with over half of the COVID 19 cases reported from the US. Things are going to get tough over there but I hope our scientists come with a remedy to curb this disease.

The Sceptical Chymist

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Quote from: Dildo Shwaggins on March 29, 2020, 06:39:43 AM

If you were in dire need of cash, I guess you are excused.

Sure, I certainly wouldn't criticize someone for selling bitcoin to free up some cash if they really need it. However, it seems like OP invested in bitcoin when he should have had a cash reserve for emergencies--this is exactly what sets up selling like this. People buy bitcoin with money that they can't afford to lose and might need in a relatively short period of time.

I'm actually in a similar situation right now, but I'm only letting go of a small amount of btc and it's not because I absolutely need the money to live. I'm trying to buy that damn e-bike, and I've pretty much given up on the hope that I'll find a bicycle retailer who'd accept bitcoin. Anyway, good luck to OP.

bangdik123

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Quote from: DeathAngel on March 29, 2020, 07:22:18 AM

Sad that you had to sell all the BTC that you own but these are tough times for everybody. Hopefully you can afford to buy back at some point because the next big rise will come next year.

Indeed, with the conditions that currently require some inventory to undergo lockdown, it is very difficult for us to be able to survive to make investments, but that is why we invest as a reserve fund when we are in need.

Hopefully we can all face the hardships of life that we are currently living and soon the COVID-19 virus epidemic is over.

johnyj

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Quote from: mk4 on March 29, 2020, 07:15:53 AM

Quote from: carlisle1 on March 29, 2020, 07:08:59 AM

Why not take Loans instead?i mean other option than selling your LOVING BTC as you have said because there are Help from each government for the affected of this pandemic?

Not sure if I would suggest taking loans in this situation. We have no idea how long this pandemic will go. What if it stayed for like half a year? The loan would have then accrued a good amount of interest. I believe OP has taken the right decision here. It's not like there will not be another opportunity to invest in bitcoin, there's a lot of time for that once things settle down.

I'm also seeking a loan right now, better stand on the bankers' side and mimic what they are doing right now, since they will always benefit from any crisis: When in crisis, average people selling assets for cash, and banks borrow cash from FED to buy assets cheap, and in boom time they sold assets back to average people and profit, over and over

The only problem is that banks will not give out loan easily during crisis time, only themselves, so you need some government policy to ensure it happens

cryptoaddictchie

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No one here can advise you to hold it based on your current situation. Especially you are living on one of the highest expensive cost of living. Expatriate really taking the hit. If you are an expat, I assume the company can lend you money or at least advance your salary or give any financial assistance. My friends working overseas too but the company understand the current situation, and extend their hand to tighten up the budget for their employees necessity.

I am really hope that all affected can still hold while they can cause its not really advisable to sell at the moment. But due to this f***** virus everyone has been opressed to do so. Anyway, its done. Stay safe mate.

DeathAngel

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Sad that you had to sell all the BTC that you own but these are tough times for everybody. Hopefully you can afford to buy back at some point because the next big rise will come next year.

mk4

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Quote from: carlisle1 on March 29, 2020, 07:08:59 AM

Why not take Loans instead?i mean other option than selling your LOVING BTC as you have said because there are Help from each government for the affected of this pandemic?

Not sure if I would suggest taking loans in this situation. We have no idea how long this pandemic will go. What if it stayed for like half a year? The loan would have then accrued a good amount of interest. I believe OP has taken the right decision here. It's not like there will not be another opportunity to invest in bitcoin, there's a lot of time for that once things settle down.

carlisle1

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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.

Why not take Loans instead?i mean other option than selling your LOVING BTC as you have said because there are Help from each government for the affected of this pandemic?

but if you have no other option then you are free to do such because this is your Bitcoin and you have saved them for crisis like this to be your last resort.

Stay safe mate and yeah we can accumulate again when the market stabilized in future but for now?we need to fill our stomach .

crwth

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You know that you have a choice to either HODL or SELL it right? If that is the case, it would always be the priority that you should be doing. If you needed to stay alive using money/fiat, convert your assets. In this case, your Bitcoin.

I hope everyone gets to get through this with the right decisions in life and help others when you have the capacity to help too.

Topic: This is why I sold my 0.67 BTC!! - page 5. (Read 1025 times)