Will you take a loan or sell ur Bitcoin?

Ever-young

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Quote from: Mate2237 on December 29, 2024, 07:24:27 AM

I am of the view that people hodlers should not sell their crypto assets to solve emergency problems as far as it's not a life threatening one as bitcoin is in a crossroad with the price of bitcoin expected to reach a all time high

It's better that you borrow and solve your problems and pay later when you get your profit from your bitcoin investment because this is a period that bitcoin holders should not joke with their assets

I get the point that you are making, but what if the person doesn't have anywhere to borrow that money from? What will they do in such a situation? Or what if the only option and place they get to borrow that kind of money from the person will request interest to be paid on top of it during the repayment time, and some situations need urgent attention? What will you have the person do at that point in time?

And if eventually they take the loan and agree to pay back with interest, you and I know that the price of bitcoin is not predictable to some extent. What if the price drops below what it was as of the time they took this loan agreement? Will you still have to ask them to reborrow with extra interest or still sell some part of their holdings and solve that debt problem once and for all?

Olatundespo

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Quote from: bestcandy on December 29, 2024, 03:46:55 AM

Quote from: Bright0515 on November 13, 2024, 01:01:55 AM

I decided to come up with this topic now cause it will be very vital to know how some people cherish and how they can handle situations in their worst times. I see the way investors and traders are being happy the way Bitcoin is causing waves in the crypto market and running in a bull run direction.

So what will you do in this situation where there is a serious issue at hand and even on ur shoulders a very emergency situation at a critical time but no money in ur account not even a friend nor family member can come to your aid and u are a HODLer in this time that Bitcoin is in its prime in the market. As an investor will u compromise ur Bitcoin to solve the problem or u consider taking a loan to solve it then pay it later.
Remember no money with you and consider how u would work and strive to have such a huge amount to pay back a loan.
So which is ur option, compromise ur Bitcoin or take a loan and strive.

Considering the way Bitcoin is making wave now it will be the most valuable asset in the future so on that note I don't see the justification in compromising my Bitcoin to solve any problem irrespective of the criticality of the problem provided I have a means of taking a loan to solve it, I will speedily go for the loan without any hesitation even if the loan requires a vital colatral that is within my possession I will give up everything just to sustain my Bitcoin investment because going by the bull run direction of Bitcoin now there is every possibility of regaining everything I may loose in the process of taking the loan through proceed from Bitcoin profit in the near future and still sustain my Bitcoin asset.

Your decisions should be more realistic than borrowing to buy Bitcoin so that you don't end up with poorer people over time. Similarly, you should make your decisions with the potential for higher returns. Bitcoin is a valuable asset, but you should avoid being overly emotional and I always recommend accumulating from your discretionary income and investing in the long term. This is much more realistic than borrowing and can help you work hard to deposit Bitcoin. Your interest in Bitcoin is commendable, but I think you are being overly emotional, which can put your capital at risk. In addition to meeting your family's needs, it is advisable to deposit Bitcoin and through this you can follow the long-term DCAing.

Mate2237

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Quote from: Bright0515 on November 13, 2024, 01:01:55 AM

I decided to come up with this topic now cause it will be very vital to know how some people cherish and how they can handle situations in their worst times. I see the way investors and traders are being happy the way Bitcoin is causing waves in the crypto market and running in a bull run direction.

So what will you do in this situation where there is a serious issue at hand and even on ur shoulders a very emergency situation at a critical time but no money in ur account not even a friend nor family member can come to your aid and u are a HODLer in this time that Bitcoin is in its prime in the market. As an investor will u compromise ur Bitcoin to solve the problem or u consider taking a loan to solve it then pay it later.
Remember no money with you and consider how u would work and strive to have such a huge amount to pay back a loan.
So which is ur option, compromise ur Bitcoin or take a loan and strive.

I am of the view that people hodlers should not sell their crypto assets to solve emergency problems as far as it's not a life threatening one as bitcoin is in a crossroad with the price of bitcoin expected to reach a all time high

It's better that you borrow and solve your problems and pay later when you get your profit from your bitcoin investment because this is a period that bitcoin holders should not joke with their assets

bestcandy

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Quote from: Bright0515 on November 13, 2024, 01:01:55 AM

I decided to come up with this topic now cause it will be very vital to know how some people cherish and how they can handle situations in their worst times. I see the way investors and traders are being happy the way Bitcoin is causing waves in the crypto market and running in a bull run direction.

So what will you do in this situation where there is a serious issue at hand and even on ur shoulders a very emergency situation at a critical time but no money in ur account not even a friend nor family member can come to your aid and u are a HODLer in this time that Bitcoin is in its prime in the market. As an investor will u compromise ur Bitcoin to solve the problem or u consider taking a loan to solve it then pay it later.
Remember no money with you and consider how u would work and strive to have such a huge amount to pay back a loan.
So which is ur option, compromise ur Bitcoin or take a loan and strive.

Considering the way Bitcoin is making wave now it will be the most valuable asset in the future so on that note I don't see the justification in compromising my Bitcoin to solve any problem irrespective of the criticality of the problem provided I have a means of taking a loan to solve it, I will speedily go for the loan without any hesitation even if the loan requires a vital colatral that is within my possession I will give up everything just to sustain my Bitcoin investment because going by the bull run direction of Bitcoin now there is every possibility of regaining everything I may loose in the process of taking the loan through proceed from Bitcoin profit in the near future and still sustain my Bitcoin asset.

Churchillvv

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My elder brother who is a trader once told me this " it's better to miss a trade than loss a trade" it doesn't just talk about crypto trading or Forex it's about life generally.

If it has to do with live and bitcoin can save it then I will have no option and literally buy back every lost opportunity once I have the capacity but every lost life is gone and will never have the opportunity to get that life back. it's all gone.

The ball is in your court to play so play wisely.

?

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Taken a loan or selling of my Bitcoin to use solved some issues depending on the kind of issues at that point in term, will determine if for load but i said that taken a loan is the best, just imagine me having a log term Bitcoin investments so that if you him has finally Bitcoin when price is more better .

Cityhunter34

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Normally before anyone would think of venturing into Bitcoin investment is always good to set up a nice plan for your self. So that Incase if any emergency comes out you we would be able to settle it without touching your Bitcoin investment.

However, I think if Incase I found my self in such situation like this one I prefer selling some of my Bitcoin and settle the cease than going for a loan that we going to require collateral at the end of day while because you can invest in Bitcoin again whenever you want, but if you went for a loan and you didn't pay back when the time expired you are still going to end up selling your Bitcoin at last.

?

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Quote from: Smartvirus on December 21, 2024, 11:41:57 AM

Bitcoin is considered an asset and assets aren’t things that you sell just when you like or want to but, again you get to note that, it’s also a currency and if you’ve got it, well enough to solve a great deal of your problems without causing a significant change to your portfolio, then, having to liquidate just enough of that to solve the problem shouldn’t come with much challenge. I don’t like being in debt, not to any individual or some corporate body. In the likely event that, your plans still didn’t work out, you’re most likely going to revert back to selling them coins to pay off the debt.

One thing about bitcoin investors is that virtually every bitcoin investor has an active source of income away from bitcoin wallet. Loan is something many people detest so much which could be based on religion, culture or personal reasons.
Selling your bitcoin because you don't like being in debt is good cos that's your choice after all not many will do otherwise. On the other hand, Low or moderate interest loans paves the way for more opportunities.

The crypto market has always been barely unpredictable. Sometimes the gain you make from bitcoin just for holding it for extra 2 or 3 days could be enough to clear debts and make fortune.
You may also sell off your bitcoin and the problem will still persist. It's matter of trusting the goddess of Luck.

?

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First of all, taking a loan and selling your Bitcoin is a big decision depending on how much Bitcoin you hold, or how much loan you want to take. I can sell some of my Bitcoin if after thorough market analysis I discover that the price of Bitcoin will remain or be around the same price I sell my Bitcoin, within the period that I will be able to buy it again... I can also take a loan if the amount and the interest rate is not bigger than the profits I will get on my Bitcoin within that particular period🤷...

Smartvirus

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Bitcoin is considered an asset and assets aren’t things that you sell just when you like or want to but, again you get to note that, it’s also a currency and if you’ve got it, well enough to solve a great deal of your problems without causing a significant change to your portfolio, then, having to liquidate just enough of that to solve the problem shouldn’t come with much challenge. I don’t like being in debt, not to any individual or some corporate body. In the likely event that, your plans still didn’t work out, you’re most likely going to revert back to selling them coins to pay off the debt.

Odohu

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Quote from: ? on December 19, 2024, 02:15:39 PM

Quote from: letteredhub on December 19, 2024, 12:14:01 PM

Having a window of access to taking a loan to save your ass off your problems isn't bad provided you can be able to pay back in due time. Most business tycoons today will tell you that they resisted the temptation of touching their investment and took a loan in situations like in the op which they then worked their ass to cover the loan while their investment was growing on the other side. Financial growth in life goes with calculative risk taking and as an individual with investor vibes you just have to do the unethical some times to break into something large.

Another reason why taking loans look better is because the value of a single bitcoin can change your story within few days longer of investment. This opens broader opportunities to making it big such that even if you don't meet up with the payment of the loan with your other jobs, selling your bitcoin on a later date could be a better business strategy than a distress sell.

The truth is that taking loan is never advisable for anything unless the loan is tied to an investment that can generate profit to pay off the loan within the loan duration. So taking loan for anything other than investment is just another way of making a mess of one's finances and selling off Bitcoin investment unplanned means that the investor made the investment without proper preparations or planning for emergency situations such as will warrant taking a loan. This is not a good practice instead, while making the investment, some funds should be set aside as emergency fund to cover cases that are not planned for. In other words, investment should only be made with disposable income so that the investor will be able to hold the investment for a long period of time.

Fiasem20

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This is a very crucial matter,firstly,an investor ought to have an emergency fund which is also known as a backup fund just incase there's an emergency the investor won't go into debt or tamper his/her holDings.It should be the priority of every Bitcoin investors/holDers to build an emergency fund while accumulating Bitcoin but what if the emergency fund isn't enough to sort out the problem then I would sell part of my holdings and add it up to my emergency fund to sort out the problem.But if the investor's emergency fund is quite enough to solve the problem then there's no need going in debt.I'm not a fan of taking loan not even when I own Bitcoin in my portfolio,does such action even makes sense,what would an investor gain if he loses his life because he was patiently waiting for the next ATH,I think the answer is nothing because there are more ATH to witness,unfortunately Bitcoin price is unpredictable,you may be expecting a bullish season and it may end up being a bearish one.My fellow Nigerian if yawa don gas I no advice anybody to go take loan when him get Bitcoin for him wallet,make greed no allow you die leave your holDings think wisely.

?

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Quote from: Su-asa on December 20, 2024, 01:09:47 PM

Quote from: ? on December 19, 2024, 02:15:39 PM

Quote from: letteredhub on December 19, 2024, 12:14:01 PM

Having a window of access to taking a loan to save your ass off your problems isn't bad provided you can be able to pay back in due time. Most business tycoons today will tell you that they resisted the temptation of touching their investment and took a loan in situations like in the op which they then worked their ass to cover the loan while their investment was growing on the other side. Financial growth in life goes with calculative risk taking and as an individual with investor vibes you just have to do the unethical some times to break into something large.

Another reason why taking loans look better is because the value of a single bitcoin can change your story within few days longer of investment. This opens broader opportunities to making it big such that even if you don't meet up with the payment of the loan with your other jobs, selling your bitcoin on a later date could be a better business strategy than a distress sell.

Now, what will you do if you did not see anyone to borrow from?
You can not stay in a hospital and still hold your bitcoin when you can't find anyone to borrow from to pay hospital bills after spending all the emergency funds you have, because staying in a hospital will increase the bills every 24 hours.
However it depends on the kind of situation you want to settle with the money you are looking for. If you do not see anyone to borrow from and you really need the money based on the kind of emergency you want to use it for, the only option is to sell a decent amount of Bitcoin you have on your portfolio and sort the emergency issues.
If you are a Bitcoin investor, you should also have a backup funds that can help you resolve any emergency issues that might come up in future. Am only saying based on my conceptions, as a Bitcoin investor you need to have an emergency funds.

Most times is just the unwillingness to try other options especially when your mind is already focused on your bitcoin account. Every legit worker is clearly loan worthy at all time within his means. Emergency situations may come up, exhausting other options first is the advice, not dying while you have a bitcoin in your wallet. But you have to exhaust other options before you think of closing in on your bitcoin.

Su-asa

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Quote from: ? on December 19, 2024, 02:15:39 PM

Quote from: letteredhub on December 19, 2024, 12:14:01 PM

Having a window of access to taking a loan to save your ass off your problems isn't bad provided you can be able to pay back in due time. Most business tycoons today will tell you that they resisted the temptation of touching their investment and took a loan in situations like in the op which they then worked their ass to cover the loan while their investment was growing on the other side. Financial growth in life goes with calculative risk taking and as an individual with investor vibes you just have to do the unethical some times to break into something large.

Another reason why taking loans look better is because the value of a single bitcoin can change your story within few days longer of investment. This opens broader opportunities to making it big such that even if you don't meet up with the payment of the loan with your other jobs, selling your bitcoin on a later date could be a better business strategy than a distress sell.

Now, what will you do if you did not see anyone to borrow from?
You can not stay in a hospital and still hold your bitcoin when you can't find anyone to borrow from to pay hospital bills after spending all the emergency funds you have, because staying in a hospital will increase the bills every 24 hours.
However it depends on the kind of situation you want to settle with the money you are looking for. If you do not see anyone to borrow from and you really need the money based on the kind of emergency you want to use it for, the only option is to sell a decent amount of Bitcoin you have on your portfolio and sort the emergency issues.
If you are a Bitcoin investor, you should also have a backup funds that can help you resolve any emergency issues that might come up in future. Am only saying based on my conceptions, as a Bitcoin investor you need to have an emergency funds.

?

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Quote from: WhoYouCantKill on December 20, 2024, 01:25:21 AM

Quote from: ? on December 19, 2024, 02:15:39 PM

Quote from: letteredhub on December 19, 2024, 12:14:01 PM

Having a window of access to taking a loan to save your ass off your problems isn't bad provided you can be able to pay back in due time. Most business tycoons today will tell you that they resisted the temptation of touching their investment and took a loan in situations like in the op which they then worked their ass to cover the loan while their investment was growing on the other side. Financial growth in life goes with calculative risk taking and as an individual with investor vibes you just have to do the unethical some times to break into something large.

Another reason why taking loans look better is because the value of a single bitcoin can change your story within few days longer of investment. This opens broader opportunities to making it big such that even if you don't meet up with the payment of the loan with your other jobs, selling your bitcoin on a later date could be a better business strategy than a distress sell.

First of all, I no go advice anybody to go collect loan wey go worry am to pay, this is the mistake most people make when faced with the option of acquiring loan. Before you take a loan, you should be sure that repaying the acquired loan will not be too overwhelming for you, if your current source of income cannot take care of the loan in this case, the. There’s no point putting yourself under the pressure of taking a loan and struggling to pay it off, because in the end you’ll still end up selling that portion of your BTC to repay the loan with interest, so in this case, it’ll be advisable to sell that chunk and take care of your emergency and then afterwards decide to increase the aggressiveness of your accumulation or maybe decide to front load your investment when you have the money to in order to make up for the chunk you sold.

The point is not just about not selling your bitcoin, it's about avoiding distress sell which could make you miss a near success.
For someone who's investing in bitcoin, there are chances of having another career which also generate funds. Taking loans for the moment could also be serviced with your other sources of income while stacking up your bitcoin for a higher market opportunities.

WhoYouCantKill

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Quote from: ? on December 19, 2024, 02:15:39 PM

Quote from: letteredhub on December 19, 2024, 12:14:01 PM

Having a window of access to taking a loan to save your ass off your problems isn't bad provided you can be able to pay back in due time. Most business tycoons today will tell you that they resisted the temptation of touching their investment and took a loan in situations like in the op which they then worked their ass to cover the loan while their investment was growing on the other side. Financial growth in life goes with calculative risk taking and as an individual with investor vibes you just have to do the unethical some times to break into something large.

Another reason why taking loans look better is because the value of a single bitcoin can change your story within few days longer of investment. This opens broader opportunities to making it big such that even if you don't meet up with the payment of the loan with your other jobs, selling your bitcoin on a later date could be a better business strategy than a distress sell.

First of all, I no go advice anybody to go collect loan wey go worry am to pay, this is the mistake most people make when faced with the option of acquiring loan. Before you take a loan, you should be sure that repaying the acquired loan will not be too overwhelming for you, if your current source of income cannot take care of the loan in this case, the. There’s no point putting yourself under the pressure of taking a loan and struggling to pay it off, because in the end you’ll still end up selling that portion of your BTC to repay the loan with interest, so in this case, it’ll be advisable to sell that chunk and take care of your emergency and then afterwards decide to increase the aggressiveness of your accumulation or maybe decide to front load your investment when you have the money to in order to make up for the chunk you sold.

?

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Quote from: letteredhub on December 19, 2024, 12:14:01 PM

Having a window of access to taking a loan to save your ass off your problems isn't bad provided you can be able to pay back in due time. Most business tycoons today will tell you that they resisted the temptation of touching their investment and took a loan in situations like in the op which they then worked their ass to cover the loan while their investment was growing on the other side. Financial growth in life goes with calculative risk taking and as an individual with investor vibes you just have to do the unethical some times to break into something large.

Another reason why taking loans look better is because the value of a single bitcoin can change your story within few days longer of investment. This opens broader opportunities to making it big such that even if you don't meet up with the payment of the loan with your other jobs, selling your bitcoin on a later date could be a better business strategy than a distress sell.

Abu-Naim

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Quote from: letteredhub on December 19, 2024, 12:14:01 PM

Having a window of access to taking a loan to save your ass off your problems isn't bad provided you can be able to pay back in due time. Most business tycoons today will tell you that they resisted the temptation of touching their investment and took a loan in situations like in the op which they then worked their ass to cover the loan while their investment was growing on the other side. Financial growth in life goes with calculative risk taking and as an individual with investor vibes you just have to do the unethical some times to break into something large.

You are right, but in this case I will prefer to sell my Bitcoin to do whatever I have to do with money instead of taking loan that I will have to pay back with interest.

I am not against holding Bitcoin, but we all know it is a digital asset that only you will know where you will keep your private key, and once you are no miner, only people that have access to your private keys will be able to assess them, and if you keep it secrete just like many of us here, your savings and investment will go just like that; while if it is a physical investment, you people will be able to claim them; therefore, with your good health, hold your Bitcoin, but if you have Bitcoin savings, sell some part and solve any problem you have, then use DCA method to buy back whenever you are financially free.

Huliya

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Quote from: Bright0515 on November 13, 2024, 01:01:55 AM

I decided to come up with this topic now cause it will be very vital to know how some people cherish and how they can handle situations in their worst times. I see the way investors and traders are being happy the way Bitcoin is causing waves in the crypto market and running in a bull run direction.

So what will you do in this situation where there is a serious issue at hand and even on ur shoulders a very emergency situation at a critical time but no money in ur account not even a friend nor family member can come to your aid and u are a HODLer in this time that Bitcoin is in its prime in the market. As an investor will u compromise ur Bitcoin to solve the problem or u consider taking a loan to solve it then pay it later.
Remember no money with you and consider how u would work and strive to have such a huge amount to pay back a loan.
So which is ur option, compromise ur Bitcoin or take a loan and strive.

I always hope that no one ever finds themselves in the situation you mentioned. We all should know more or less that you should arrange a special fund before investing. If you have a weekly or monthly income arrangement, then you must invest weekly or monthly. Your weekly or monthly fund should be arranged in the same way. So that you do not find yourself in such a situation.
If you face such a situation, then I think you should withdraw some of your invested money and face the situation. Because times of danger do not pass easily. If you take a loan in such a situation, then that loan will cause trouble for you. People invest in Bitcoin to make their future better. And if that investment does not work in your time of danger, then what is the point of investing? So face your own situation by taking someone else's loan.

letteredhub

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Having a window of access to taking a loan to save your ass off your problems isn't bad provided you can be able to pay back in due time. Most business tycoons today will tell you that they resisted the temptation of touching their investment and took a loan in situations like in the op which they then worked their ass to cover the loan while their investment was growing on the other side. Financial growth in life goes with calculative risk taking and as an individual with investor vibes you just have to do the unethical some times to break into something large.

Topic: Will you take a loan or sell ur Bitcoin? (Read 1159 times)