Bitcoin Forum

My friend decided to sell his car and invest all the money in Bitcoin as some people predict that 1 BTC will reach 500 000$ till the end of 2019.
He totally believes in it and tells that then he could buy not only a new car but a flat also.

Does it really worth it? He uses his car for his work and now he wouldn't be able to do this anymore as he thinks there's no need to work anymore.

This is rather unreasonable step for him. Only if you have free funds, you can deal with crypto currency. Cryptomarket is very volatility. And your friend can
 both lose and make a profit. It's very risky.

Getting into the market now or anytime in the  next 6-12 months I think is good  thinking it is going to 500,000 in 2019 is just nonsense to much to fast.
Needs better expectations no way he is getting that kind of returns but if he can afford to be with out the money for 10 years maybe he will get what he wants.

The main point is that he doesn't have much money on him. If he would then there will be no need in selling a car.

I personally think, that if You want to believe those, who predict BTC to rise to 500 K, to sell all their belongins. That would mean 10000% ROI in one year. Why the hell not?

NO, he should NOT do it.

it has nothing to do with the future of bitcoin and what i think about it. but i advise against it because your "friend" is making an investment just because some random person told him it is a good idea and this way of investing is never a good idea and should be avoided.

you should only invest after doing your own extensive research. and even then you should always invest what you can afford to lose not the money that you get from selling your car!

Who can live without money for 10 years? :D

Doesn't he need his car the next couple of months? Does he have a job or is he just planning to wait until 1 Bitcoin = 500k USD?
Sounds like an extremely stupid idea to spend money that you couldn't do without.

Initially I thought it might be a troll, but there are more unbelievable stories than this one.
People selling all their belongings for Bitcoin or taking out huge loans during ATH.

Bitcoin is the worthy investment but this price prediction is false. So you will earn decent profit in next year and most of the long term holders believe the Bitcoin so your investment will safe in forever. My suggestion don't put ball in basket so you could split to invest in crypto then only it make big success.

Hey

I would not recommend to sell a Car for Bitcoins.

Good Luck with this investement.

For me is a risky choice that he choose because no one can predict the price of bitcoin he can be under 500k$ and then he lose his car and job for nothing

I'm trying to stop him as I also don't think it will rise so much in so less time, but he fully believes in it as there are many articles on the web that try to prove it will be exactly like that..

If he has no brain and he sincerely believes, that 10000% ROI is realistic, its better if he cuts his losses He would lose that money anywhere somewhere else.

Thats a sad Story, i hope it will get a happy end.  ;)

The thing is that he needs his car, but he plans to ask parents for help for that period of time and then make a surprise and return everything and even more..
I agree that it is totally stupid idea. I'm very afraid of him if the course will fall, not rise.

How foolishness whas this?Selling a precious car to invest in crypto?What if the price continue to fall untill 2020 ?Then he will commit suicide?Stupidity is not a behavior cryptonians must be because we are being adviced to Invest only what we can afford to lose,since theres some topic about people committing suicide because of huge losses from their investments

This is a joke, really. What are the reasons behind the $500k prediction? There's a greater change to test the $5000 level than flying up to $500k.

I often wonder, based on what do people make those kind of silly predictions? just a hunch? And the fact that there are dumb people as your friend that believe in such nonsense is kinda sad actually. 500k is not happening, not in 2019 and not in a very long time. You friend fell for a meme and hope he's ready to pay the price.

So your friend is one of those people who think they're going to get rich if they invest in Bitcoin? The market doesn't need those kind of people who don't understand how this market and are simply getting involved in cryptocurrencies for stupid reasons "getting rich quickly".

Your friend made a terrible decision, he will realize it in the long run. It's not worth it to sell your car, and definetly not worth it to leave your job for crypto. Be honest and tell him to stop dreaming, he will not get rich with Bitcoin.

as long as theres a believers, any thing can happen, like what your friend did, he believes that bitcoin will reach $500k at the end of 2019, meaning if this news spread and some people believes and invest in bitcoin like your friend did. we will see the positive result at the end of the 2019 or above.

I told him that in order to become so rich he would need to wait much more time, there's a very small possibility that Bitcoin will reach 500 000. But the only answer is that I don't understand much in it.

The best way to perform is to invest your own money that you can afford to lose. Selling card or estate looks pathetic or at least very, very unreasonable.

How do you think what may be the possible btc price till the end of 2019?

I hope it will not turn out like this.. I do my best in order to stop him, but for now there are not much results. I ask him to save at least half of his money if something will go wrong.

Investment is all about taking risk and I can't blame him doing that since there is always a possibility that bitcoin may go up high again but I might say that your friend thinks exaggeratedly? The market and bitcoin is still immature so reaching $500,000 for bitcoin seems very impossible. I don't agree with his decision selling the thing that supports him going to work. He will only suffer physically when going at work and emotionally if bitcoin will drop below $5000 because a huge panic selling may start when that happens.

I always tell him that it's not the way out and crypto doesn't work like that. You have to know much about investments and how to behave. But the only answer is that people like me will work till they die and will always refuse themselves in some things and he will be rich soon, etc. That idea made him really insane! I'm already tired of trying :-[

I would agree to sell your car to invest in btc if you no longer use that car since you had another one but if it is the only car you have, then it's a no for me. You should have to invest money that you can afford to lose and not your car and savings since I would consider it as gambling which is a very wrong idea. Once you had earn profit from your other financial earnings then you may spare some capital for investment in btc as the last quarter is nearly coming where most likely btc is expected to rally within the year.

Even if it will reach $500 000...don't you think ordinary users won't be able to withdraw/exchange their btc for money? Authorities don't want people to become rich, so why would they allow strangers convert their btc to millions of dollars? That won't happen. Don't be greedy, take smaller profits and convert them into something tangible.

It really works like that? More investments - higher rates? Sorry, I'm not a big professional in it.

this is really a very great decision, meaning that you really believe in bitcoin, indeed by the end of the year many predict that prices will rise, and if you succeed, chances are you can get huge profits, but if it fails you will be very...

He doesn't have much that's why he decided to sell his car in order to invest more and get more back. If it will work...

your friends are too risky, I dare to do it but if I do research and analysis first, if only predictions everyone can do it but the results are uncertain, I think your friend needs luck, may God bless your friend and his dream is achieved

I think you give him good advice but everybody is different. There was a dutch
family who sold their house and everything else to invest in bitcoin, personally
I opt to buy bitcoin every week with a small amount of FIAT, it will eventually all
add up to something substantial.

if I have an unused car I will sell my car to trade capital in the trading market, while the price of coins in the market decreases and we have to buy it, using long-term investments will definitely have many advantages

Selling his car was brave and lot of guts to do it but i think it is not a good time right because the market still somewhat recovering but i do admired your friend for risking and believing in bitcoin. There are still hope of what he ventured on bitcoin its gonna be a fruitful profit when bitcoin reaches at the highest price like last year. So keep believing on bitcoin because it is the truly the future.  

Anyway I can't understand such people that don't want to work much in order to earn all they want, but want to become rich at once like that. I don't think it will really work. Maybe he will earn few thousands of dollars, but it's nothing on the whole. He can also earn it working hard.

I think it is not reasonable to sell car and invest  on bitcoin. Its  not that my trust on btc is less but for me it would be good to invest on btc if you have extra fund or resources and not to sell your properties just so you have money to buy btc. You need to think twice thrice and research extensively before investing on btc.

I do think it depends if the car was a second hand or was used only for awhile then there will be a difference there, I think it is not worth it when you sacrifice things when the market is still unpredictable and the fluctuations is unstable.

And what coin is reliable do you think? There are better ones than Bitcoin is? I thought it's a father of crypto and must be the more reliable one.

Nothing warrant us that bitcoin will hit $500k at end of 2019, is a crazy bet to place. And no, i thing it doesn't worth it if he really use the car to go to his work, what if the price keeps crashing and end at $1k till the end of 2019? You know how this crazy markets rolls, and nothing is secure now days, it can go up to the moon, but it can crash hard, that's why we call it a high risk investment.

I totally agree with you! People should turn on their brains all the time, especially what concerns money. But there are so many of those who believe that easy money will do them a favor when they actually don't. It doesn't work like that as each second person will be a millionaire already.

I think it's just a funny decision. Because now i think Bitcoin investment is more risky because price are volatile. 1BTC= 5,00000$ when it will be happened? in 2019 ha ha that's very interesting jokes. It's never possible within in 2019 because 500K$ is a really big deal.

h's really amazing guy

How can someone block any transactions? There are so many exchange services on the web and so many e-wallets where people save their coins. I don't think all of it can be blocked at once.

We are different people so we have different opinions but for me, that idea is not necessary. We can believe what other's tells us but no one can predict what truly be the value of Bitcoin because part of it's characteristic is being volatile, Though your friend has a will to do so. But, ideally for me selling your own car is not necessary.

Selling a car to invest I don't think it will be a problem if he has high self-confidence in bitcoin, but if he leaves his job then I'm afraid he feels depressed if he doesn't get the income as long as he waits for the bitcoin price to reach the desired value. Indeed these rumors have circulated if the price of bitcoin will soar rapidly, but I personally still have to consider further if I have to do that.

My friend borrowed money to buy bitcoin, and his risk was justified, who as lucky, of course there are times when someone is lucky, and someone does not

Of course prices will rise. But I don't think it will be more than 10 000$. Even 10 000 is much for that.
It means that such a big risk shouldn't be done..

You do the right thing as you invest in btc step by step. There's no need to invest everything you have as such things almost never have a good ending. It's like when you have 20$ and need 100$ and you go to casino in order to rise it. 100% you'll lose. And when you have 1000$ and you go to casino with 10$ in order to have fun - you'll win 299 or more.

I would not open that thread if it was an unused car - then it will be normal. But the things are different..

The fact that someone does not need to work is fundamentally wrong. Such confidence will lead to nothing good. It is a mistake of many to rely on bitcoin growth and do nothing. In addition to greed, this does not generate anything. The market, as a rule, punishes such.

You know, one thing when it risen from 500$ to 20 000$ and the other thing that he wants it to raise from 6000$ to 500 000$. It's impossible, I think..And I'm not sure that he will be happy if it will grow till 10 000$ only for example as it's much less than he expects.

bitcoin does have a big risk. sometimes they sell their valuable assets just because they want to buy bitcoin. but they don't need to be afraid, while they are positive, work hard and smart, I'm sure they will get double the profits of their capital. do not get frustrated easily in order to get a profit, because I am sure the business will not betray us

The thing is that exactly now it's clearly seen that market is unpredictable and for some reason now he decided to do that. I don't know what to do.

I think if he believes the price of Bitcoin in the future will rise very high there is nothing to blame for him to sell his car too. means he wants to change his life. so in my opinion for this case I only have advice to be careful in investing in Bitcoin. because there is no instant trading in Bitcoin. up and down prices like a roller coaster.

The point is that he liked his car a lot. It means he believes in Bitcoin so much that he can give everything for it. If it was an old car that costs nothing - then okay. But it's a really good one.

I clearly understand that there's no warranty even in the point that Bitcoin will rise for 1000$, but these "enthusiasts" simply powder the brains of those who understand much in crypto market.

The prediction does not always come true. Do not believe the prediction on the exact market like Bitcoin. but If your friend has a personal business or a permanent job, then it's ok, But in this case, your friend has the advantage of having a lot of money. because the bitcoin market is slowly getting strong again. Then a big company supports Bitcoin.

he can sell his car if it has the assurance that bitcoin will reach that value, todays value is very far from that price so for me it is not worth it if he sell his car for that reason. it is just a prediction so he should think of it before he did it.

if the price reach $500k your friend will be rich, but if not good luck to him :D

I will be really happy for him if it will work. Maybe not for 500 000 but at least for something. I want to believe that coin will not crash and he and lots of others that behave like he does will not suffer much because of their naivety.

I also believe in bitcoin and also I want to fill my bag with bitcoin but unfortunately i have no car for sell otherwise i also sell my car and buy some bitcoin.

in my opinion this is a wrong example, it might be legitimate just because it's the money he has. but it is supposed to invest we use idle money as investment. instead of using our basic needs, if doing it this way is like gambling

Did he borrow thousands of dollars? Or it was a small amount of money? How much risky was it?

Investment has 2 possibilities, profit or loss. and I hope your friends know about crypto investment, what your friends expect is very possible but does he know the risks of Bitcoin investment? maybe now is the right time to buy Bitcoin, because the price is not too high, but the risk of losing still exists. I hope your friend gets a good return from Bitcoin, because he has sacrificed a lot for Bitcoin investment.

when BTC was $200 a few years ago , no 1 thought it would ever be $6k+ any time soon and here we are. Same could be said for $500k & today!!! Now it seems insane & unrealistic but in a few years its certainly possible. If your friend can get by without his car ok maybe not the worst decision ???

There are more and more such people. First these were video bloggers and everyone started to shoot videos thinking they will earn much with that.
Then Instagram models appeared which decided that they can simply post different photos, gain followers and do some ads sometimes in order to earn for the living.
And now those who want to earn money by simply investing everything to crypto.

I'm just wondering what will happen to all these people in 10-15 years.

I think this is not good decissions, because of your wants to have a capital for your investments to buy bitcoin, think twice how important those things for you because bitcoin today is not in a good position you may lose some even your cars will gone away..

I agree with you that if to work hard on it it will work. But people like my friend want to invest and sit and wait. And he's sure that till the end of the year 2019 he'll get so much money that there will be no need in doing something anymore. And it's a wrong point of view.

Hope that it will really get strong enough in order to let him earn at least some money, not to lose them. But I'm afraid what he would do if the rate will fall again soon. It will be something crazy probably.

Hope he'll give me some no mater I created this thread :D

As we believe in bitcoin, I think I will do the same to sell my car (if i have a car😊) but i will not sell like my property or house and lot. Because he is right that he can buy one or two car once he able to gain profit of his investment. And for the mean time as mode of transportation going to work, he can ride a bus or train. There are options.  I think car is only want not a need.

I think he's too ambitious to get a profit, especially the car he sells is a car that is useful for supporting his work. It would be natural for him to invest if the car he sacrificed was a car that was rarely used.

It must be stopped. Bitcoin will certainly grow, but no one can guarantee that it will grow to the heights of which your friend thinks. In crypto-currencies it is necessary to use only those money which it is not a pity to lose.

In my opinion, investing the crypto coins only you have enough liquid assets. It's because there's a higher chance for the coins to have a high fluctuation in crypto market compare to normal financial market. If you have enough liquidity, even there's a sudden decline, you can still wait the markets to recover, and do not need hurry to cash out. In this case, I would not recommend your friend to put all his money in the crypto market.

This is not true. Whatever the prospects, but to sell the necessary property and take loans - these are things that are not allowed to the crypto enthusiast. Bitcoin may not reach a large price in the next ten years. And then what? This person can even incur losses if he buys too much.

I really do not understand his business. Although Bitcoin is very potential. i do not support this kind of business. If he loss what will he do? Becareful with investing Bitcoin because the crypto is very dangerous when he decide mistake. ;D

This is a very difficult thing to happen to such a miracle. If that happens, your friend will be the strongest person I've ever known. ;D ;D

In the crypto industry there is nothing absolute. And there is not a single 100% correct prediction. This person needs to be reasoned. Because with a very high probability, he breaks his life. Bitcoin must be used wisely, and not put hope on him all his life.

Well in my own opinion you can invest here in bitcoin  by  buying some coins.  No nerd to sell your cat buti its your own choice to sell it.  But theirs another way.  You can join in signature campaign no need to rush and sell your car.

If i want to sell my car i can sell for Bitcoin ofcourse but i would never sell my car for buying bitcoin. Today you can exchange anything with the Bitcoin or any cryptocurrency, it is not a surprise anymore. I am sure that in very near future we will be able to spend any of our coins in any markets..

Is it worth it? Very simple math: if You believe even with 5% probability, that BTC will end at 500k, that means You should sell any car cheaper than 500 000 x 0,05 = 25 000 USD, for expected positive ROI.

Good choice, thats a wise decision.because not all people are believe in bitcoin but after all they regrets when they saw that bitcoin pump and mooning. As long as theres a believers/community that supporting bitcoin.in the future they can earn more from it.

If  act so thoughtlessly, after buying bitcoins, this person will have nothing left at all. Do you think there were few people who bought bitcoin, and then sold it for cheap, just because the market collapsed below and they lost faith?

First of all, this is a horrible idea.

Even if the price where to go up, selling a car incurs certain opportunity and frictional costs, depending on where you live. There are taxes and fees to transfer the title, the cost of selling the car (time and money) and potentially the time wasted in getting to and from work by other means.

That depends on where your friend lives.

So he could lose money even if the price went up.

The price can also go down.


Your friend is displaying a childlike ignorance of investing fundamentals. Just because he hopes bitcoin will go up to x price doesn't make it any more likely.

Why does he believe that? It's just not going to happen. Think about all the people who now have bitcoin. Wouldn't they sell a certain amount as they gave up working for a living?

Even if they kept 95% of their bitcoin the price would still be pushed down, and who would be buying at that price? Where would the money come from?

Yes, the economy can grow over time and bitcoin will help by cutting out the leeches but you can't expect the world GDP to grow 1000% a year and the price to go straight to the moon. It just doesn't make sense.

   Digital market is unpredictable and bitcoin is volatile. Nobody holds the future of bitcoin even we always said that there is a bright future in bitcoin. Only time can tell the future that's why we always remind everyone that invest only the amount that you can afford to loss. Maybe your friend doesn't care about his car and think that investing in bitcoin is much better. He is very courageous then let him take all the risks of what he has done.

Noob reason, is he still thinking? sell car for bitcoin? seriously? With just a kind of prediction? he will put his car for this?there is some other  way like investing it on a business or something not in BTC because we all don't know when will it end. How about his kids on the future or now?Does his kids will undestand bitcoin? unless he teach it but just a prediction? he will put his life on a bitcoin agh.. poor reasoning.

well, I will do the opposite, sell bitcoin to buy a car. well, now bitcoin is so famous, and the price of 2 bitcoins is enough to buy a pretty good car in my country. well, I've tried it, so I use bitcoin to increase real estate, like cars, houses, gardens and much more.

I think its stupid. Don't get me wrong I invested in BTC and other coins and I want to make as much as I can ...but selling your stuff and buying crypto...look its always healthy to calculate the risk. Ok BTC will rise again but what if it takes 1 or 2 years ...what would your friend do in that year or two. I hope the BTC gets that high in 2019, but going all in is not the smartest thing.

In my opinion, your friend is too brave to make that decision. Because investment in bitcoin is very risky and unpredictable. Moreover, he left his job.

My friend also had such thoughts, selling his car to buy Bitcoin or Altcoin. considering cryptocurrency continues to fall, making a good price to buy.
However, I think if you have to sell a car that is used daily it is too extreem.
Investment in bitcoin must be unused money, so as not to lose a lot of money, because we don't know Bitcoin can rise in the future.

is that really crazy that is a very risky decision even though it might happen that the price of bitcoin will rise by 2019 but it's really crazy. I think it's safer to invest with unused money

Smart thinking, many people have done the same thing and succeeded.
I've heard of someone pawning his car to buy Bitcoin and now has 4 cars in his garage.
every time Bitcoin drops significantly, he will pawn his car to buy Bitcoin and no more than 3 months he can buy two new cars.
But here I just warn, if you want to do the same thing you should be able to analyze Bitcoin properly, don't let what you have become lost due to your mistakes.

We all have the rights on what to do with all of our assets and money since we earned this hardly but we must not forget the importance of this and never let losing for nothing

Investing in cryptocurrency specially to bitcoin is one great option to earn maybe not for now but for the future ,since this may tale long time before we can harvest our profit so from this investing little each time can bring us fortune in a couple of years if lucky.

For your friend i wish him goodness in his decisions,and to other aspiring investors please refrain from doing same as what Ops friend because investing what we can afford to lose is still the better outview in this community

I think that is the wrong thing because the price of bitcoin is very fluctuating, doing all in bitcoin is a bad thing, the money used to invest is money that is not needed

if my advice is better don't sell our valuable items just for bitcoin, because it's very risky. and if my advice also does not have capital it is better to join the campaign bounty because it is very productive and we can get bitcoin for free too

actually it's a risk, but if it becomes your choice maybe it can be used as one of the best ways. but you must be sure and optimistic if the car that you sell for bitcoin can give profit.

You can buy one new car again but Bitcoin is high then you will not be able to buy it. So his decision is right and in line with the present. Bitcoin will be able to buy a lot of assets.

it's speculation that must be thought through carefully for a trader to dare to sell a car in order to buy bitcoin, but believe me it's not the best choice but you can do it maybe it's a pride for you

This decision is very risky in my opinion and you should not do that, before you try it to learn it and can predict the right one and find information about the development of bitcoin in the future.
all decisions are on your side and you also have to be prepared to take big risks if everything is not as expected, because what I see is a market that is currently bad and no good developments and predictions are not necessarily true, so you must consider before do it so as not to regret.

This really not recommended, selling his car for bitcoin is ok but not doing work with the hope that one day bitcoin will rise to $500000 should really  be avoided, keep you regular work as usual, you can alternately invest your saving or any money which you do not need currently in bitcoin or any financial market, volatility is very high in such markets to each step is to be taken carefully.

Well i think there is no harm on trying, if you have two cars you can maybe sell the old one for bitcoin, today is really the best time to invest in bitcoin due to huge and and if you are lucky and we gain on it we can maybe buy two cars from the profit that we can maybe get by buying and selling it when price rise.

Of course you can do that if you want. and legally indeed somewhere. In Italy you can also buy a full house and pay in BTC! It's happening guys - even if you do not understand how and why you cannot stop us from becoming worldwide addopted. You can stay sure tou can payback your car and buy 2 same cars from 5 years maximun if you sell now. Just do not trust in ups and downs market scheme and others ponzi's .
10x takes much longer than what you was said.

If it is a belief that is based on a knowledge that can ultimately make a big profit, I think there is nothing wrong with your friend doing that, because surely before he decided to sell his car to buy bitcoin, he must have thought about the risks that might be received too. This means that everyone has confidence in what they are doing and then it will be determined by the luck of everyone, because not everyone will be lucky, and surely there are also those who are not lucky and eventually suffer the risk of loss. Hopefully your friends become part of a lucky person, although in my opinion what your friends do is a step that is quite brave and maybe only a few people do what your friends do. In the end I want to say that in investing we should always use a healthy mind and within the limits of good control, so that we are not carried away with lust and ambition that can ultimately make us suffer losses.

I am amazed at such decisions of people who just because someone said that the price of bitcoin will grow ready to sell their last panties to get easy money. If Your friend really did tell him that you Fool!
The cryptocurrency market is very volatile and the chance to earn here is much less than to lose. It is foolish to carry out your last money to sit and spit at the ceiling waiting for what they will turn in to 10000%.
Do not carry the last money here, and if the price of bitcoin continues to decline and last for 1-2 years Your friend will also sit and wait for the price to rise - he has no brains. Free cheese is only in a mousetrap, do not be so gullible and quit your job and sell the car if you have no guarantees!

It is not a question of opportunity, but a question of consequences, that is discussed here. A person wants to invest a large amount of naive believing that he will get bitcoins of 500k. It is nonsense. Bitcoin is certainly a good thing. But it is not permanent. And I'm not used to meeting someone's hopes. It must be used, not put on its own fate.

Great words. I agree wirh you

I admired of such believers. Hope their expectations will come true. My own, I will be satisfied if bitcoin will come back on 20000 $ :)

A person needs to work. Even if a person has a lot of money. Money likes to be in circulation. Only in this way can they be multiplied. A person who only enjoys life, calculating never to work quickly loses its taste for life. Such a person will not be happy.

If you do not want to work a day in your life, then make sure that your favorite occupation starts to bring you income. But these words should not apply to crypto investment.

 
 ;D ;D ;D ;D It will be great

This is very hard to believe that your friend sold his car and invested in bitcoin, waiting for the price of bitcoin to reach $500000. This is an uncalculated risk and he may be waiting for a very long time. It is not a wise idea to risk your valuable for cryptocurrency investment. Only invest your spare money.

Not so bad desicion I guess. Some people selling everything to buy Bitcoin and living with their families in the car or on the street. That's OK to sell something you don't need.

i feel half good decission and half not good choice , if it's expensive no need to sell car , i try to sell my land to buy bitcoin but i just step back when drops more or dips bitcoin i will buy it . i dont want to risk at this moment  maybe in future.

What i think is that it is not that much important to invest in bitcoin by selling your daily driven car or things you would use daily just for the greed of getting more benefit in it so don't make such a bad decision for make the investment.

Not a good idea i think, i advice people who is new to crypto market., They should invest money which will not hurt his/her economy. So be carefull before investing, do not need to take risk at that moment.

Now there is no need to work anymore? How is he going to pay for food and his bills now?
If he sells his car to invest in Bitcoin, but then takes the bus to work, that is fine. He is just sacrificing a little bit of comfort to invest in something he believes in. Whether or not Bitcoin really succeeds, your friend wouldn't have lost anything.

I would say he made a very bad decision about quitting his job.Selling his car for investing on bitcoin is totally fine, but giving up his job and depending on cryptocurrency means automatic financial suicide. Unless he has enough money to throw out, he is going to regret what he did. His job gave him a steady flow of income every month, which he won't be getting by investing on crypto currency.

I heard that in Germany some companies what sell cars started to accept bitcoins. That's one more thing that we are going to accept that cryptocurrency in Total.

Maybe bitcoin can reach 500k but what if it won't? He has plan b? Biggest mistake is to invest bitcoin (or anything else) with all your money. If you don't have a plan for time when you lose you shouldn't do that stupid move.

It is better physical gold bought, but not bitcoin. The next crisis will show what will happen with the dollar, bitcoin and gold.

One major cause if several suicide cases is unrealistic expectations. I do not know what he has read or learnt about crypto. Despite the fact that we believe it can rise significantly some years to come, it doesn't call for such risks

In the world of investment, even not in crypto, you should always follow the golden rules. Do not invest what you cannot afford to lose and always do your own research. I don't mean to say that bitcoin is a bad investment, but he should be prepared for the consequences. It doesn't mean that if you invested to something, you are going to be rich instantly.

he would buy the most expensive car when BTC reaches the price he wanted . we need more people that take all chances to invest like him

that decision was rational and selfish, but i envy his courage to take such decision, it may seems it doesnt worth it but the volatility of the crypto market cannot be predicted, am not of the school of thought that bicoin will rise to such magnitude, but i strongly believe the future is healthy for bitcoin and cryptocurrency.

He should be careful enough and understand the nature of the risk he wants to take. It could go either ways- he can either win or loose since no one can predict the future of the crypto market

Your friend is a very adventurous player. I would not have sold the car based only on the rumors of other people.The result can be quite different and the market in 2018 it shows.

i know he might be sitting somewhere now lamenting, especially after reading comments from other forum members that are not encouraging, but i tend to pick something from this friend of yours and that is the ability to take RISK. if he continues with such heartset then definately one day, fortune will shine on him, kudos bro.

it's unpredictable whether bitcoin prices will be at a high point at the end of the year, buying bitcoin if you have to sell a car will be very risky because if there is a loss it will lose. but if it's the best choice according to your friend maybe your friend has thought carefully.

Not a good idea selling car for bitcoin as we all know here bitcoin price are unpredictable from the start. There is no guarantee about the price to hit $50k by year 2019. As much as possible to think more before considering to sell any just to buy btc.

Doing these things only or always depends on you. Selling your car or goods to buy btc will be one of the greatest achievements one can do because the person will one day reap it.

This to much risky decision because their is no assurance that it will gonna happen that bitcoin it will rise $500,000 its is not believable and that was a prediction only so that you don't know if it possible. Bitcoin value was unpredictable and their is no one can knows when  the value of bitcoin rise again just like what happen this 2018 they said it will rise again but until now not rising.

Advise him to sell the kidney. A person  and lives with one kidney. And so he and the bitcoins will.

You can not believe the predictions. This is all manipulation of the mood of market players. They bear only a loss.

Your friend is an optimistic person in my opinion, but I suggest not to be too hasty about it, make observations and understand first what will be invested, because in the future no one can guess what will happen ... !!

I agree with you.

For me, that's a good decision he ever had because the price will really go higher but $500k is too much for next year. I'd rather go for a commute than to used cars who are more expensive everyday considering the cost of the fuel here in my place. For sure, your friend will become a millionaire because of that decision, he's a real risk taker.

This is an ambitious move for him and I like the idea that he wants to invest in bitcoin. However, if he will be in financial trouble when disappointment comes then I suggest he make the investment wisely.

If you think that you can earn much more in bitcoin by sacrificing your car then it is your choice. I just remind you investing in bitcoin is very risky and you just invest the amount that you can afford to loss.

I think it is a good decision to sell a car for bitcoin investment because the car cannot have the same price after you bought it on the market unlike bitcoin that has possibility to give profit. I will do the same when I have it because you can earn big and buy new car after gaining a profit. Though the risk is big, there is no used to be afraid of that because in life there is no risk free.

I firmly believe that your friend is right. The value of a car as soon its purchase will depreciate. However, from what I know and what people are saying the value of Bitcoins will grown in an average way (that is there will be numerous bull runs as well as huge corrections, but in general the price will go up), thus you friend would gain in the long term, I think he is on the right track. All the best for him!

He must have studied this decision well
No. 500000 I think too exaggerated
I think this estimate of John McAfee is known for his broad imagination
  BTC is worth the investment and the price is good now
But not for 500,000.

Selling you properties to invest in crypto is what I will never advice anyone and I think this is unreasonable and over exaggerating, greedines. This is really the best time to invest on crypto as the price is down now but not to an extend of looking for 500% profit.

if I don't sell cars but I sell motorbikes for additional investment capital in bitcoin bro. because now will use the opportunity to buy bitcoin because the price is still falling.

I really like his confidence, but dont risk the car IMHO. This year might not be the year of bulls in crypto, it might take another 12-24 months for mass adoption followed by bull run. Hope you talk to your buddy and make him understand that.

if they already do that i think we wouldn't judge him, but if they haven't do it i think you can tell him about the risk, about the car that you sold will gone if the bitcoin price is drop or bitcoin is not popular anymore in the future

It's still risky, we still don't know if we already hit the bottom. But I believe if he/she bought bitcoin around $6,000, then that is a good entry one. It's good decision, Bitcoin is just making some price correction, soon, it will become stable , just patience.

sell car for bitcoin...i don't think it is a good idea.Buy bitcoin without sacrificing some of your properties unless you two or more cars

yes, of course the risk will continue to be in every business, we only need to make the risk smaller. if you believe the $ 6000 price for bitcoin is a pretty cheap price, I think it's good enough to have it. but I do not recommend selling assets such as cars to get them, because I think we can still get them another way.

Steps that are too daring to speculate. By selling a car to buy Bitcoin, in the hope that it will make a lot of profits by the end of 2019. In this case there is no need to blame anyone. Because 2019 hasn't happened yet, if you look at the current situation, the price of bitcoin is at a price of around $ 6k. Maybe you think the price is far from $ 500,000. I want to say, everything can happen in cryptocurrency. Although it's less likely to touch the price of $ 500k, but there is no harm if your friend dares speculation. You need to encourage your friends. And say everything will be fine.

Actually this idea also comes to my mind,selling my house and lot to buy bitcoins this is how i trust this virtual coin together with altcoins as i am sure that futures lies on this great innovative creation of satoshi nakamoto

We're under conversation (me and my wife ofcourse)about what is the next move after selling our assets,at first she is totally disagreeing but along the way and after being active in forum now she’s supporting me and trusting cryptocurrency

I don't think I will do this, because if the price of bitcoin like this I could lose my car crazy, but if the price of bitcoin is high, there is no harm in trying.
but I'm sure also bitcoin will rise

Good job.if you can sell your car.
It's mean you are interesting in business and its true to start business you should have some money. So if you have option of selling car to get money for starting your business in bitcoin then its completely excellent decision. But you should have knowledge or some experienced related to business then it will be more good for you.

Maybe is the best solution and ideas for selling your car and make investment at bitcoin, you can sell your lovely car and buy bitcoin for investment least two or three months until at the new years. you can take much profit at new year of 2019.

it's a very crazy idea ... it's really crazy for me, but if it's been a choice in his life, hopefully he gets a profit that doesn't disappoint because he has sold a car just for bitcoin .

Well we always say dont invest what you can afford to lose even how good the investment is, thinking profit ahead seems not right because we dont know what's in the future of bitcoin.

Im not saying the price cant soar high but we must not set aside the possibilities of not so good outcome. Selling your car for btc is not bad if you know the consequences of your action and you truly believe in bitcoin.

However we should not believe or rely our decision to invest just because of some "experts" prediction, prediction will remain prediction and not reliable at all.

Yes it might work the same way as your friend have expected it to work because since bitcoin can have an increment in future in its value but not a car . Cars value isn't going to increase rather it will decrease with time so investing in bitcoin is an asset while investing in car is a liability.

in my opinion it's a very risky decision, because no one can predict bitcoin correctly, maybe bitcoin reaches 500 000 $ by the end of the year, but maybe the price drops more than now, it's better to invest with the rest of the savings the risk is smaller .

Yes he can take a lot of profit if bitcoin reach highest value like what he expect but If in the next year bitcoin still continue go down he already loss his car and he will loss his money. We never know what will happen to bitcoin In the future and if we see the market condition its almost impossible to bitcoin reach 500k. Invest in bitcoin is good but sell your car to buy bitcoin is not the right decision for me.

Car is already sold and it is his decision. Tell him that diversifying investment can help to lessen the risk in bitcoin. If you are afraid bitcoin lose popularity then find another where you can believe on that can give profit in the future. However, I do not think bitcoin to lose popularity because it is the foundation of all other digital currencies.

It was a reckless decision, for me, I only invested at my own level. If lucky, the profit from the investment, if the risk will not lose much. Investing as your friend is very dangerous, but during this time I think the investment is reasonable but should not sell his car to invest.

in my opinion, it is a choice that can harm yourself if we sell our cars or property to be used as investments in the crypto world, and what if the market continues to decline over the next few years? So in my opinion, don't be too pushy by doing things beyond reason to be able to invest in the crypto world

Your friend takes a big enough risk in my opinion, because investing with bitcoin only hears the words of others, bitcoin cannot be predicted by anyone can go up and down anytime, I personally won't do such a thing because it is very high risk.

for some people who believe that the increase in the price of bitcoin is very reasonable if he wants to find a lot of profit from the current conditions of bitcoin,

I need to say, that I also do the same thing with your friends, I sell my car and buy bitcoin, because I think this is the right time for me to buy bitcoin and hope that the bitcoin price at the end of this year will lead to the highest price.

Apparently, there is something wrong with your friend's way of investing in Bitcoin. He should refrain from taking so huge steps in investment that he will lose almost his entire life's worth if he loses in the process. That is too high a risk to take. This, for me, amounts to obsession. Not good. No matter how much you believe in something, you should not risk everything for it.

A risky investment, hoping that the price of the BTC will increase. I just invested in the electronic money market at my expense, I never thought of selling a car or home to invest. The cryptographic market is profitable, but it can also be dangerous if you invest in an unreasonable investment. Finally, still expect the BTC price will increase sharply so that he bought the car was sold. He really made a big decision.

I think your friend has taken a good decision. Maybe your friend has enough faith on bitcoin and he doesn't care about his car. So he thinks that investing in bitcoin is much better. Although the digital market is unpredictable and bitcoin is volatile. After then he believes bitcoin investment at this bear market. I think he will buy more car in the future by investing in bitcoin. Because investing in low price and sell it at a high price is a good strategy. We know that today or tomorrow bitcoin price will be increased. So I think he has taken a good decision.

As much as I want to hold my bitcoins until it hits $20,000, I still need cash for my daily needs, so I do circulate my coins once in a while. Hopefully your friend kept some to survive until that day comes--which I think will come sooner than expected.

I am surprised that he actually did that. I think you could have advised him?
Anyway, I'm sure he carefully thought about it before he made that decision. I just hope he has saved enough for his daily expenses. It takes a lot of time and effort to see the ROI for this, so I hope he'll not regret that decision. All the best for your friend, man

I think it's a really stupid idea, to sell your car for investment in bitcoin, especially considering that you need a car for work. I think it's better to save money and gradually invest it in bitcoin, rather than selling a car or an apartment hoping that bitcoin will grow.

everyone has different knowledge and experience, especially in this industry. You can do similar speculations if you have knowledge and plans for bitcoin. this is not easy because every speculation has a big risk, you must be prepared with it. but I agree if bitcoin will be able to grow higher than before, it's just not at this time.

There are many options for your investment and car sales are only a small part of your investment. I think there should be some luck and a clear plan to get the desired profit.

I think because he wants to earn a bitcoin so big that he sells a car for bitcoin and because he needs money for everyday expenses for his income as well as for the family

Thinking before 7-8 months, it was correct. But now, risky to say about bitcoin price. Value of bitcoin not increasing as speedy.
Bitcoin always best choice although, but now alas! A bad condition of bitcoin now.

decisions like this are very high risk. because we don't know how the condition of bitcoin is going forward. but your friend has decided a decision that is so big. like it or not, the decency must indeed be borne by us.

I’ll admit I’m new to all of this, but I’ve totally thrown myself into it over the past couple months. For years I maintained a completely uninformed opinion of bitcoin based in part on my reading of John Kenneth Galbraith’s “Short History of Financial Euphoria” (which I highly recommend). But after taking the time to learn what this actually IS, I am convinced that this is an absolutely fucking world changing technology. There is a “there” there. This is real. Bitcoin is not tulips. This is the beginning of phase II of the Information Age. At this point I think you either get it or you don’t. All I suggest is invest some time to really understand the technology. If not because you’re investing, do it because it is literally changing everything before our eyes.

That kind of thinking is exactly what led to Bitcoin to $20,000 and back to $6200. People buying to gamble and make quick bucks instead of seeing its very little real-world applications. People will always point out a cafe that accepts bitcoin but failed to point out the other 1,000,0000 cafe that doesn't.

selling cars for Bitcoin is a bad thing in my opinion, because BTC is very uncertain in 2017 many predict that BTC will touch the price of tens of dollars, but in reality this year it is not according to predictions it should not do that

The blockchain it runs on wouldn't be near what it is without Bitcoin. Both are what create the value, and more importantly, the potential for value that will likely continue to grow as we move forward over the next few years.

Selling car for bitcoin,  the first question is what type of car used of good one.  If you are tired of your instead of packing it in a place and getting spoil you rather sell and invest the money in bitcoin and sooner than latter in will yield multiple reward

Yeah it’s called a lot more people need to buy and hold it. Once it achieves some stability and the whales cannot move it much then it can be used for its true purpose as a currency. Until then it is primarily a gambling chip on steroids.

The best is to invest only free money, that you don't need. If he can live and work without a car, then it's okay, but if his job requires a car and he sold it, then better to search for another job until he is not reach yet  ;)

Even its worth it, still its not wise thing to do because there are still risk to take. But if you have old type of car and you really want to get new one then sell it and the money you get from it invest it in Bitcoin but don't put all. Its better if you divide your money, one for your investment and the other half is for other crypto to invest but make sure it has potential like Bitcoin.

He is doing wrong because no one can predict about bitcoin. Price of bitcoin fluctuates every second. So before doing anything like that he should think twice.

Its heard not good ideas for selling your car and make investment at bitcoin, I know this moment is best chance to buy and invest at bitcoin, but you can’t do it. there are not sure about bitcoin will growing up at the end of year.

I think it's too risky because I think it's too brave and deciding to stop working is ridiculous. even though I hope bitcoin 2019 will be better

Cryptocurrency is a volatile sector and its not advisable to sell off your property for bitcoin investment. What needs to know how to do things and also manage risk by investing what one can afford to lose. This is basically how these things are done in my own opinion.

But the point is that he has only one car that is really needed and he's gonna risk everything in order to become reach one day if the predictions will come true..

Do you think that crisis that affects dollar and gold will affect Bitcoin too? Is crypto somehow connected to the world currencies?

Quite cruel advice, man..

Of course I did, but he's very sure he does the right thing.

Hello,

It is for me a real bad decision to take so much risk in the market we have. I really think that market will again go up in the next months and 2019 but is is really impossible to go up to 500 K$. Even in good increase is not so easy to predict.

I really trust the good advice of "you could invest what you are willing to lose", we are in speculative market even the interest of the technology itself and there is high of loosing money. So better to keep the head cold and invest what you don't need right now furthermore not selling important stuffs.

Even I don't think that Bitcoin will lose its popularity soon. There are still lots of novices who buy their first crypto as they believe in it. And for now there's no reasons to forget about it. I'm sure the price will not reach 500 000 but it will rise for sure.

This is ridiculous, selling assets and stopping working, why not use the money available, without selling the existing assets ... even so everyone hopes there will be developments in crypo for next year

Totally agree, I don't think that now we have alter coins that may be more reliable than Bitcoin is. Probably that's why he chosen btc and not something else.

I don't think its a good idea, I presume your friend invested everything to bitcoin? if yes then he messed up for real, price speculation is not an assurance. Everybody could speculate the price of btc but always remember this market is risky and everything could turn out really bad.

Then I want to wish good luck to all of you! Hope your risk will be fully justified!

It bad idea bro

Can invest in bitcoin a smaller amount and increase the number of your bitcoins by selling them on the exchange for a large price and again purchasing it later on the bottom. 500K will not be tomorrow and not after a year. There is a lot of time for trading.

It's interesting that many people here advice to divide money and invest the second half to altcoin which is even more unpredictable :) Maybe it's better to safe half of a money in order to have at least something to survive if you'll lose everything?

The reliability of bitcoin lies in the fact that, however low it falls, it always rises. He does not wait for death after reaching the bottom. People will not give up bitcoin. But this does not mean that you can believe in fairy tales about 500k in a year and sell the property for the sake of bitcoin. In the end, everything happens in life. This person just does not wait for the growth of bitcoin and will sell it cheaply.

in my opinion, that person is very stupid, because he is too brave to take risks to get profit with bitcoin. for me bitcoin is to earn extra money, not to spend my money.

I don't give us any decide because firstly need to decide what your friends want to him then can. Basically now bitcoin price huge down if we have to hold bitcoin then we will getting more profit.so if she/he have good knowledge about crypto world then he/she can do that selling car and buy bitcoin.

Good and strong words. You are right

I think this is risky but risk is the key of success. no one can't predict what's going on next.but we know that bitcoin is unstoppable. right now price is down but we hope bitcoin rise again.so your friend can invest in bitcoin.

It bad idea. his friend does not know anything about the market.

Nobody can determine when the price of BTC will rise high and when prices will drop or when prices will remain stable, because everything is only predictive. Everyone has a choice of how to buy bitcoin or invest in bitcoin. Even though it sounds like it doesn't make sense about what your friends are doing, hopefully you get good luck and get the benefits that you want.

Bitcoin is waiting for a good future

It is true that to be successful, we need to take risks, but calculated risk. Invest only the amount you are ready to loss because crypto is a very risky if you are not well versed about it.

a decision that isn't too bad I think. but I do not recommend that kind of thing. if for example we sell what is not necessarily it will also be better. but some people sell everything to buy Bitcoin and give up what they have. I hope bitcoin will improve

* I went bankrupt when I joined in cryptocurrency (https://bitcointalk.org/index.php?topic=5030888).

I am optimistic about the growth of crypto industry but that doesn't mean I should recommend everyone to get involved with it with their capital. Everyone should invest his time before investing his money and explore the possibilities before taking the investment decision. I have lost my capital multiple times in my initial days of trading when I used to trade based on others opinion.

Yes, high risk stands behind a huge profit, which is something that we all know, and with this story, success can still happen but with all due respect and sincerity, the opportunity to achieve success is probably very small. Although I know we can not predict the future, but from all the information and data we have, we can easily see that big investors have blew up the price of bitcoin too high and fast, the consequence of this is that everyone has a huge belief and terrible dreams, never sell bitcoin and keep buying, and so the boss in the back of the game will not easily pumping bitcoin up again, that would make him lose money

I would not sell my properties for something that is not reliable. You might get bankrupt if the market falls and you end up being cashless and car less. It is good to take risk but we should be able to estimate if you can take that risk to gain.

People these days don't want to work anymore. It's much easier to sell something and do some crazy investment. But no one can be sure that it will work. And such people believe it will.

I think this man blindly believes in Bitcoin. I believe in it too, but still not selling my car and house. I choose to invest only part of my money which I can afford to lose.

I think your friends decision is to dangerous and so much risky for his funds invest in bitcoin. And wait for a long time for holding bitcoin in 2years and for selling his car. Remember that no one knows what will be the price of bitcoin in 2years if it will rise up or not.

Yes, he invested almost everything. I mean if he'll lose these money he'll stay without car and without work..

well, if that is interesting for you. why don't you try to discuss with your friends. because he did the speculation he had thought. of course the risk is always there, so I think you should look for other experiences, of course, in investing or trading, things that are primarily technical analysis. I'm not sure there's a big movement for this year in growth

The point is that he's not going to do any trading things. He thinks that he will invest and then take back much more. On his opinion it works on its own.

Honestly, i respect your friend's decision to sell his car for bitcoin, but in my own preferences i think its not that necessary to sell your car to invest in bitcoin, because when the price is going to drop, and you're facing the disadvantages it will be a big loss for your friend.

I'm not worrying too much because of the fact I'm almost sure it will not come to an end and he could return the money he invested at least. But maybe it will work good.

You have any option to hold bitcoin,  so you will sell your car for bitcoin.  And you know when you take a risk,  then you will earn profit here,  so take you own decision and do your work.

The point is that he's not very good specialist in crypto. He thinks that it will simply work for him. But maybe in some time he'll turn on his head and start learning how to trade in order to rise his income.

I think it may probably work like a poker game. It's all up to your luck and if you don't do all-ins you'll never win a big amount of money.

it's like suicide, reaching the price of $ 500,000 sounds like a dream, seeing the reality now the price of btc is only around $ 6,000, I believe more that this is the time btc achieve price stability, see the market now price fluctuations are getting smaller there is no big leap, I do not know this is a game or one way to make btc as a whole currency and not an asset for investment anymore, if your friend does that now, it is too extreme, from where he can meet his financial needs even though meeting financial needs is absolutely necessary, what is your friend will fast all year? may hope, but don't dream of mastering your common sense

Then why do some "experts" write predictions like this? They only force such people like my friend to sell everything and invest. But everyone who can think understand that the price won't be so high..

if you only sell the car you have to buy bitcoin and have bitcoin I think that is a very stupid thing because you can get bitcoin without having to sell your car.

I hope that it won't fall more at least in order to have an opportunity to get your money back not losing much.

That's the normal way of being and I asked him to do like you do. But he wants to gain much more and it's impossible with small amounts of investments.

Of course there's always a big risk of losing money but he kindly believes that he will earn good money on it.

Of course he can buy Bitcoins for 500$ for example but it's nothing in comparison with a really big money.

Do you think that taking advantage of bitcoin is like turning your palm easily. You must be able to understand bitcoin, and the market is still too fragile and it is very unlikely that bitcoin will reach 500k this year.

confidence may make people do not hesitate to do anything but if the risk that will be obtained is large, it requires considerable consideration because we also know the nature and risk of cryptocurrencies.

This is not a good idea to invest all his assets to bitcoin, and prediction is just a prediction and there is no assurance at all, no one can predict exactly what will happen in bitcoin, and in my opinion $500,000 is too far from the price of bitcoin as of today so for me this is impossible for the year 2019 to make it possible. $10k can be possible but $500k is not, and don't expect all his profit in bitcoin. He needs to still work for his daily needs and expenses.

But there are too many of those who don't want to learn much about crypto market as they think their money will work for them somehow.

your friend is insane, I think if they know about the risk of the bitcoin and other cryptocurrencies they wouldn't sell their car for just to buy bitcoin and other currencies, I think the good way they just use the small amount of his money to involve in bitcoin and cryptocurrency

Golden words. And they think that if their money can work for them there's no need in spending so much time to sit in the office and do something.

But then he will not earn very much and he wants to become a very reach man :)

Your friend's risky, but his decision is correct. The machine will eventually rust,bitcoin is not) And the machine will become cheaper and bitcoin will go up.So let the other suffer and like to walk,but then it will be to fly the plane)

If you always believed on the predictions that are coming out. I believe that you will lose your money. Bitcoin is great but I don't think it can reach the value of $500k per bitcoin.

I think that such investment is really not safe at all because it is uncertain and unreasonable. Because it's just a guess, no one is sure the btc price will rise or not. and he will have to suffer for a long while while the car can help him make money so I think such investment is very risky

Oh, my God.... Because of people like your friend, others think bitcoin is a fraud. Even if bitcoin reaches $ 500,000 in 2019, selling the machine it uses for work is a very stupid step.

oh my god honesty, you cannot sell anything used uncompromised money or extra money..

I salute the courage of your friend, who are willing to sacrifice vehicles for work operations in order to invest in Bitcoin, but have your friends known the risks of investing? I hope your friend has learned about Bitcoin investment and is also aware of the risks. because there are several topics about people who commit suicide because of the huge losses from their investments.

if a decision is taken and it must be thought carefully because the choice must be true we think according to the good of all if we save with money without having to sell the vehicle used to do this work a reality that does not harm us must be more observant in deciding something.

I think if we were to sell cars to invest in btc it was very risky. We can not be sure that the price of bitcoin will increase or not. If he sells a car, he will be inconvenient for his main job that is a bad decision and uncertain. I think he should not do that

I wish i can sell something real for bitcoin in my country, it is illegal.
In your friend's situation, i think he made a wrong decision. We cannot make sure bitcoin can reach 500.000 usd even 100.000 usd by the end of 2019. He should learn how to trade and invest.

People will really have different views on this. A fanatic might say he did the right thing and a conservative could just end up with a smirk on his face as if telling what a terrible mistake he did.

And i guess i'm a bit in between these two kind of people out there in bitcoin land. I do have high hopes. Researching and leaning on experts' opinion do always end up with bitcoin reaching a valuable high in the near future. Yet applying a bit of conservatism will never hurt, making me firm not to sell a property i already own (such as your friend's car) in hopes to gain even more. Practicality and sensibility would somehow dictate that i keep a valuable asset instead of wanting to hit the jackpot.

But i do admire your friend somehow, sometimes, risking it all means gaining it all.

someone who is willing to sell his car to buy bitcoin to invest, of course that person really believes that the price of bitcoin will grow even higher when they buy it at this time, even that person expects huge profits when bitcoin will rise again, even that person will will be able to return to buy a car again even better than the car it sells to buy and invest in bitcoin.

I think that now it is better to keep btc because it is the best coin  ever having a lot of different advantages that make it the leader in the market of crypto today and it will be the good one forever

To avoid losses due to a decrease in the value of Bitcoin, you can take advantage of cloud mining. Cloud mining is the process of mining Bitcoin that you can online with GHS units. From this process, you will get additional benefits from extra Bitcoin from mining. If you don't use it, you can sell the GHS again.
The advantage of investing in Bitcoin through trading is lucrative. But, before actually plunging into this digital currency investment, you need to understand the risks first so that you can anticipate when a bad possibility occurs.

If you trade via Bitcoin.co.id, you can set nominal limits to buy or sell Bitcoin. So, the process of buying or selling new will be executed automatically when the Bitcoin value moves to the limit that you have specified before. Well, if you don't have time to monitor Bitcoin movements in real time, this method can be used.

 Don't ever use this trick because it's very unhealthy for users and investor, and  I'm afraid that this trick will become a hobby of yours, selling things just for crypto is a very wrong move.  I suggest to you to not do this.

If you risk selling a car and buying bitcoin, Maybe it's a great idea. You can make a huge profit in the future.

For me it is an act that is too risky, although most people believe that bitcoin will be able to survive and have good value in the future but that is uncertain.

in the event that my personal guidance is much better do not sell the useful products simply for bitcoin, simply because it is extremely dangerous. and when my personal guidance additionally doesn't have funds it is best to become listed on the actual marketing campaign resources simply because it's very effective as well as we are able to obtain bitcoin free of charge as well.

It is really dangerous to enter and sell something for investment vehicles like Btc. I personally paid my car money because it coincided, but it was one of the biggest mistakes I made. Unfortunately, I lost most of my money.

Yes it depends on you, if you want to sell your car to buy bitcoin or invest in bitcoin. That is a good action for the future, because bitcoin is a long-term investment tool. But if you want to quickly take advantage, I suggest not to invest in bitcoin. :)

This is good primarily because the car is a liability, and bitcoin is an asset. Convert liabilities into assets is a good, but risky idea.

It is worth investing in bitcoin but not with the price of your only car. It is not wise to sell your car or your house for it. Invest just as much as you can afford.

That is very unwise of your friend, how can any one sale the only means of livelihood just to jump into an investment he/she know totally nothing about. Not only bitcoin alone but every other investment involved risk and at that invest only the amount you can let go without any form of hurt to you selling his car to buy bitcoin is not a welcome move at all.

Selling a car to invest in bitcoin, I think this is very risky because there is no guarantee that bitcoin will increase as expected. Before investing in bitcoin, first identify the risk of bitcoin and then invest in bitcoin.

I think a profitable purchase, everything went too far with bitcoins, and probably will go further, developing cryptocurrency increases itself in the world, and the cryptocurrency market looks better.

Since the current market its even worth if you sell your house to invest in bitcoins.

Selling car for bitcoin is not a good idea, butcis you have many cars you can sell one and purchase bitcoin, because i believe that bitcoin has really a great return of profit from our investment if the price rise up high in the near future, but for now bitcoin is really dropping and we need to wait for the rising of its price.

I would not sell my car for bitcoin right now too, I would just work hard for me to have a great value of bitcoin but not to sell my property a house or a car but rather use my money to invest here, we need to become wise in our every decision but for those who can do it, salute tot hem.

At the end his own car and his own money but, sell his car for invest money to bitcoin, I don't think, it's a reasonable thought. I would not sell my own car.

What your friend did is a huge gamble,selling your own personal stuff for bitcoins i think for me is not recommendable.Bitcoins price is high yes but in the next few months you have the potential to lose or gain money sometimes its lose because of the down trend now.If your friend is not a strong holder he wil eventually lose money

I think your friend is doing very brave things, and your friend is very ambitious to want to make a profit in crypto, is your friend confident in predicting that the person who will reach $ 500k is not necessarily the next year, and if your friend invests in bitcoin see whether the market is good or not?

It's a pity when the results won't benefit when your friend invests big enough, think twice if to start when the market is bearish, at least you invest not just one point, because getting your friends to profit can be in other alt coins

your friend is practically making a bet, maybe he did the right thing or maybe not. I would not sell the car I use to go to work for BTC. going all in on one investment is very risky

I want to say to your friends, that he is a brave and great person. By risking a car to buy bitcoin. with hopes and dreams will get many benefits. There is nothing wrong with this, because it is his personal right, I can only support and hopefully bitcoin jumps to the price of $ 500k at the end of 2019. Of course there will be lots of people partying. ;D

Proof or I don't believe this. Your friend can't be that dumb? unless this happened last year during the bull run. Won't be surprised if some media and the ignorant ones pick this up and begin to publish it as though itwas true. Some are in the habit of spreading this to sort of tales to show how Cryptocurrency is bad for humans and destroying the planet. Anyone can claim anything these days. Only the truth stands.

It is not a bad decision your friend took, you use what you have to get what you need, thou the space is volatile but your friends expectation is quit outrageous, I can guarantee he will have a good return,but not up to the speculations of  1= $500,000 . Your friend should not be eager to get his profit and must be strategic when the bullish period commence.

This is a frivolous act. Okay, if he sold an unnecessary thing, but he hoped that he would just buy the bitcoin and immediately begin to earn a lot of money... Newcomer, that say.

its good for him because i know he must have thought of it well and i must commend him. this is a level of risk which i only saw in time of ponzi where people sold their belongings just to make money as a result of greed and most of this scenarios dont end well. its an everday debate of whether its  reasonable o worthy of it to sell your belongs o properties to invest in a scheme.

As I would like to think it's an extremely risky choice, in light of the fact that nobody can foresee BTC correctly perhaps BTC achieves 14000 $ before the year's over however perhaps the value drops more than now, it's smarter to invest with whatever remains of the reserve funds the risk is littler.

big risk but if you dare to bear the risk and also manage it well I think that is a good thing, because maybe in the future when the bitcoin price can be 2-3x from now the profit will come maximally.

Surely your friend knowing well about the risk that he take in the beginning investment, I don't know that is bitcoin will reach 500.000$ or not, if it will be, how long it take the times. Your friend must be patient as well for it.

many people say to use money according to you can afford to lose. never invest more than that dude. You're right that it will be too high risk. What if the price changes decrease and you panic because you can't hold and be patient? of course your car will actually become dust in this investment

By the sound of it, it sounds like your friend has already sold his car. It is too much, at least for me. What if he did not gain any or the same amount of profit back? I remember when my friend was in a somewhat similar situation as him. He does not have a lot of money in the bank, too, and he wanted to get into cryptocurrency despite not having much in his bank account. Heed my advice please, tell your friend to ease up on buying bitcoins or using his belongings as collateral for buying bitcoins. Whether or not the price of bitcoin rises by the end of the year, trading something precious like a car for bitcoin can be dangerous. I hope your friend the best. Good luck.

Does your friend really sell cars to get bitcoin? this action is very risky by selling everything to get bitcoin, you have to understand that bitcoin values can change without anyone who can find out. a safer way to get bitcoin is to collect money from work and then buy, so you can still earn money from work and make bitcoin an additional income.

This is just a prediction and i think your friend already make a risky decision. Because you only should invest what you can lost.

For me, selling your car is not a good idea. Since you may use it for business purposes like going to work. When you have a job, you can start saving money in that way you can invest it in Bitcoin. When you invest it in Bitcoin, you must be ready with challenges like sudden changes in the Bitcoin Price.

I think that now selling a car to buy Bitcoins is a very risky act. The market turn is not obvious. The rate may drop even lower. But on the other hand, cars are getting cheaper with time.

Bitcoin last year hit only 20,000 USD, given it gets so much popularity and many people bought it. That was in a year, though we should not close any possibilities. But let's face the facts, it will need more than just popularity. It will need worldwide usage or more.

A very risky step because no one can ensure the crypto price correctly in the future. Hope you are right with what you decide. Good luck and success.

Probably a bad deal for bitcoin to buy a car, that is something physical, a good deal in terms of Finance, and this is a leap into the future, and perhaps a big jump in coins.

I also have a story about my friend who sold his car because he wanted to trade Bitcoin about 8 months ago, at that time his car was sold for around 60,000 dollars. He is very enthusiastic, because there are people who tell him it's easy to get money by trading Crypto. but what he experienced, the Coin they bought the price dropped, and he lost a lot of his balance. even now the money hasn't returned.

Well, that was really a too risky action to do for the fact that in this moment of time, we cannot have that assurance that all he have risked for Bitcoin is all worthy because the price is still unpredictable and that belief of him can change and be challenge as time passes for the fact that maybe the price will move more negative which can be a regretful thing for your friend that he sacrifices his car for this. I think, he must have seek first for an advice regarding this matter so that regret will be lessen.

This is a decision that is only seen by the sweet results, without thinking of the risks. Hunted by the passion that wants to get rich quickly even though your friends have not been able to or the experience of bitcoin is still minimal, but with determination so that the results do not meet expectations. It must be very painful.
One lesson that we can take from your friends' events, don't be easily tempted by something that isn't real and we don't know about bitcoin, the sweetness can be thought but don't forget the bitter, we have to prepare these two things mentally.

For me, its a good decision because cars depreciate in value while bitcoin will increased its value over a long period of time. Bitcoin will be great in the next 3 years and for sure you can buy bettet cars in the future, if I have some assets like this I will do the same, because I believe in bitcoin.

Well, if that car is an extra one or a car that is not that useful, then I would say that it's a good move, especially if that friend of yours is quite serious with making investments in the market mate. However, if that car is much like an asset that has its purpose, then I wouldn't support the idea because you would lose more than what you can possibly gain. The convenience of having a car is not worth losing, especially if you are trading it off for something that you can't really rely that much upon. We all know how the market is, and everything we put in whether it be capital or investment is something that can be a source of heartbreak since, right now, there is a high chance for it to go to waste. Be smart mate, investing is good, but not in that regard.

Honestly, guys, I would sell a car to buy Bitcoin, but unfortunately I do not), because the current price is very low and it will increase many times. Simple arithmetic, sold one car now and bought Bitcoin, then sold Bitcoin's floor and bought a car and the second half of the coin you left. Beauty.

Sell car for bitcoin?  Don't need to sell your car just become a bounty hunter you can get what you want.  Just join any kind of bounty program. Easy to earn token don't rush your self to get bitcoin.

Well, an idea like that will have a different response, for some people such ideas are very worth it to do, and for me it is obviously a crazy idea, but of course I will not criticize the idea of someone selling a car, house, or valuables other for investing in bitcoin, I realize everyone has a different tolerance for risk.

well for me we can only see it in the end if his decision is good enough or not,  we know that the car depreciate over the years seems like the owner has faith in the bitcoin price then in the end when the price raise up that is the time that we will know the result if it is good or not.

Extually it can not be tell at this market situation. No prediction is working at present market. So i think you friend needs to more patience before selling his car. Slow and steady wings the race. best of luck.

Well, we'll know if selling his car for bitcoin is worth it when we cross the bridge. Anyway, what he did is not a condemnable crime. We are always responsible for the result of our own actions. If he really believes that bitcoin will cross $500k, then it is his sole discretion. At the end of the day, it is he who will benefit or suffer from it. So no one has to right to judge that what he did is worth it or not. In this crypto world, it's always join and invest at your own risk. And it's too premature to predict where the market is going now, considering its high volatility and the infancy of its technology. So what we do here in this business is just a matter of instinctive judgment. I just hope that we are really heading the right path in this crypto space and that everything will turn out right for the common good.

It can be a good investition. But it is to risky. Nobody know when bitcoin will grow. Your friend cannot work without his car and it is a big problem.

For me it's not worth of it, because transportation is also needed to reach a distant place. Unless he's have more than one car, It makes little reasonable so that he can gets quick capital to buy bitcoin. Just hope the capital can grow, because if not, there will be another car he want to sells.

To be honest, at the time I also sold my car to invest in bitcoin. But I only did it because I didn't need it because I live near my work. And while not regretted my decision.

This is a bold decision, some people sell their homes to invest in bitcoin. And a car is not such a big sacrifice. I'd do the same if I had an extra car.

Your friend has a strange logic because investing in bitcoin is unpredictable and he will not be able to make big profits regularly. So this is a rather strange decision.

I think that his decision is right as we see that China is on a way to stop their mining rigs and the mining amount of bitcoin in 100 years is 21 million from which about 17-18 million has been mined so it will shorten the supply as the more people are running towards bitcoin it will create the shortage of bitcoin as the demand is high so price will be also high.

 :)However, in the debate, there are many advantages in transactions or discretion. Very soon we can easily invest from here. And we can get it from here. I have also invested in bitcoin. Let's make it. That is, the price of bittacquena will increase. So we are investing. ::) ::) ;D

What your friends do is a big gamble, selling your own personal items for bitcoin which I don't think is recommended. Bitcoin prices are high, but in the next few months you have the potential to lose or earn money, sometimes losing because of the down trend now.

Actually i do not understand this action right or wrong. Maybe this time buying Bitcoin is the best and to make a way to raise money, he sells cars that buy Bitcoin as well.

I totally do not have anything against anyone that decided to take whatever risk he chose, the choice would have gone in his way and he would be laughing big but because you think bitcoin has no sign of getting there, you decided to bring this here to scorn him. It is his choice, I will be against him if he actually did if it was his only car and possibly serves him some valueable purposes

I will not go for it, selling my car for bitcoin because we may end up with nothing and that we really can't predict what will happen next. It would be best to invest whatever you have only on hand.

He made a very bad decision by hearing someone Fishy. This is one of the reasons why people is selling in the panic! A lot of people follows the hype, they invest by hearing someone, seeing the hype and when the market goes opposite of their expectation, they start to panic and spread Fudd! I don't support it, buying bitcoin by selling something special is not good at all when the market is in the bearish situation.  The good suggestion is, do Invest what you can lose.

If he thought it well,  then it doesn't matter selling his car. As long as he doesn't sell his house. I think he has a high belief that bitcoin will have a good future.

Though this is an average decision. If he thinks that Bitcoin will go 500K USD in 2019, then you have to correct him. You have to tell him that no one knows what price will happen for the bitcoin in next year.  And one thing I want to know, when he bought bitcoin, that time what was the bitcoin price? If it is 6K USD or More then I think he will make good profits in 2019. So, his future plan will go for good.

I think your friend has a good idea on selling his car and invest the money in bitcoin, but the problem is that bitcoin's price is unpredictable, but for me it is still a good idea.

Selling cars for bitcoin is not a good idea. Bitcoin is unstable and we can maybe lose our car if the value of bitcoin will fall. But it depends upon how you used or male a good decision on the feild to earn. If we have many car maybe we can sell one for bitcoin because I believe that there is no harm in trying.

I rather see it as a form of over daring. I see no way BTC can be $500 000 in 2019. You friend should hope that the price of BTC goes up as soon as possible so that he does not regret too soon

It would be a good trade if his car is not that prestigious. In line with that, I also believe that a car is not much of a necessity but rather a liability. He would gain a lot of profit on the end of the year because bitcoin has a high chance of getting into the 30k USD mark. Nonetheless, let us not forget our real jobs because we can also accumulate profit from there.

We know Bitcoin price always increase and decrease. Now Bitcoin price is low and after time it price huge increase but it not 500k USD in two year. If he sell her car and buy btc after time he can buy house I hope.

The point is that BTC value increase, I dont think that much of increasement cant be pedict. Be think and invest wisely.

It's both moronic and risky move to do that and to be honest, that's the stupidest move I have heard in my whole time with bitcoin investments. Why would someone sell their car, which they use for work, for something as volatile as bitcoins? That's just dumb. Never follow this guy's moves because you might end up losing everything too.

Don't risk money you can't afford to lose! I think those tips will be very useful in all investments, especially in crypto investment, the risk is quite large with price fluctuations, if you allocate too much of your capital, maybe you will panic easily when price fluctuations make the price fall too deep?

For me that is not a good decision. Yes bitcoin price will soon to rise and I believe this and the question is when? Nobody knows the real story of the price of bitcoins. Bitcoin is really a good investment but it is not reasonable to sell our properties just to invest bitcoin. I guess we need to invest only the money what we can afford to lose.

That's gambling, why does he do things like this?
Don't let Bitcoin damage your life, if you know the function of Bitcoin as a payment tool, then what do you want to do?
Think about the worst risks you will get
if bitcoin is indeed 500k USD, it's okay
but if bitcoin is 0 USD? What do you want?

do not sell cars for bitcoin investment, I prefer to follow the job in the signature bounty campaign, if we follow the bounty campaign until the end of the campaign we will receive tokens that we have collected, we can exchange the tokens into btc

I think that is a bad decision. If you want to invest in a virtual currency, you don't have to force yourself to sell something valuable to buy a virtual currency.
Before making an investment, you should do your research and prepare to wait for an increase or lose your money.
If you want to make investments you should use money that is not used for daily living needs.
and Don't use your entire future savings to invest in something that is uncertain.
Use money that does not affect your life if the money is lost, that's the advice to make a good investment.

BTCitcoin does have unpredictability, but don't be stupid just to dream of getting big profits.

Same story with the other who sold their assets last December 2017 because of too much believed in Crypto currency investments and almost commit suicide because of the huge lose. Bitcoin investment is very risky because the price is really unpredictable although to face a great risk to earned huge is advisable but still it is not good to sell his car for an investment. Good luck then

Maybe if he really believes in his assumptions this move can be good for his future investment, there's no wrong if you fully believes from your instinct
we have so many stories like this and some failed and most of them succeed after that December pumped, a lots of people got rich believing that bitcoin
can change their life, as long as OP's friend can hold and wait things can be turned to positive.

If the guy does not need his vehicle but wants so much to work with the cryptos, the decision is correct. He can earn pretty much to be able to buy soon the better car.

It is the most foolish decision your friend did. Selling your car to buy one bitcoin isn't a smart thing to do. Considering how unstable and how dangerous cryptocurrency is. It is better to think over again and convinced your friend not to do it.

I would support this decision if he could take the risk, he probably noticed his opportunity in this market. Many people have sold a lot of property to join, and a car isn't too big money can't lose.

well, few people will sell assets that are good for them to buy bitcoin. but if there are people who do that, I think that is a pretty great thing because it dares to sell assets that everyone wants to have to buy bitcoin.

Yes, I agree that if you have some other car, you can use the one for investment with bitcoin especially if that car is already overused. LOL.
A brand new car for investment with bitcoin is not a good idea for me, we can lose our car if bitcoin value will fall down for sure you will definitely disappoint with bitcoin. Think first before you decide like this kind of decision. This is too risky.

Sell car for Bitcoin? I don't think it is the best idea if you need that car to work every day. It is best for you to invest with money you have extra, money you won't be needing for the next couple of years. It is a good time to invest in Bitcoin right now, but be wise with what money are you investing in.

For sure my first thought was that it's not worthy. But if it will really work I'll shake his hand for so strong decision.

It will take much time and less investment. That's his point of view. The income will be much higher from a bigger investment than from 200$ per month. Maybe he's right.. Time will show.

Maybe such people that sell their belongings will only help Bitcoin to rise even more. If I understand it right the more investments it has the higher may be the course.

Did he left his investments in Bitcoin or he already changed it back for real money? If it's still in btc than he probably still has a chance to return his money as after fall the rise should come.
The only annoying thing that it takes lot of time to wait for the result and no one can be sure if result will be positive.

I hope that he'll have enough brain in order not to sell anything else if he will lose these money as he will lose almost everything he has now.

He did that because he is not a big expert in crypto market, he just read some stories of people that earn some money on Bitcoin. And he thought that when they will be earning a little by investing little money he will earn a lot by selling his car. That's the point. Now is a good time for investment as the price is lower than usual so he decided to do it now.

I hope that he will stop on his car :D If he'll decide to sell his house it will be a disaster already. If you can buy a new car it's really hard to buy a new house soon.

Yes, that's the way he's going to behave if the price will rise for a good amount. Then it's a pretty good plan. I hope it will work like that and then I'll be very happy for his risk.

The biggest problem is that too many people that invest in crypto decide not to work anymore when they receive their first earnings. As it's so easy to invest, wait a little and take more. But they forget about the point that everything that rises have a big potential to fall one day.

Why do you say "losing everything too"? He didn't lose everything now and when the price will rise he will even gain I hope. I don't say that we should follow his steps but the one who doesn't risk doesn't drink champagne.

It seems to me that this is a very risky step, a risk. Of course you can get lucky and your friend will win, but he can lose and not make a profit. What else to say I think that this is not entirely deliberate and risky.

I think, we have to decide something wisely and it's better to invest in accordance with the capabilities and money we have no need to risk everything to buy bitcoin because we don't know what will happen in the future, we can become rich but also be poor

I think it's a good start if you dare to sell a car to buy bitcoin at a cheap price. It will be beneficial but you only have to wait and be patient.

Wow, I think he really brave, yet hasty. he can bet anything but not everything. Running life is totally risky, especially if we are typical person who is high consider on making a choice. But, seems like he is too much if he thinks he can get much more by instance.

One word, reckless. He should think that crypto isn't instan noodles, you can't be rich so easy. Up and down are playing its part on crypto, and perhaps he doesn't know that he must be clever and patience. He is too hasty.

if you sell your car just to get bitcoin I think that is an action that is very detrimental to you because with bitcoin this is definitely not able to provide benefits because this bitcoin price movement will be very difficult to predict and make you dangerous because it can lose.

I would rather work and get paid with Bitcoin than sell any of my valuable things  that I collected. Before I use to do this mistake. Before, when I have the money or extra funds, I buy Bitcoin and hold on to it. Nowadays I just wait for the payment for the services I rendered. If you have any skills, you can ask Bitcoin as payment.

This is getting serious! OP, why  not show us proofs or this didn't happen.  This kind of topic is becoming to common these days without a single proof
How old is your friend? He probably didn't own the car, didn't need it, don't deserve it or it was just a gift from his/her parents. Someone who is smart enough to buy a car can't be that dumb.

The 1Bitcoin equals 500, 000$ by 2019 was mere speculation from people like us on social media. Nobody can be certain of future price of Bitcoin. 
 No investment increases that much in a short time. 2019 is few months away. If it's too good to be true it probably is.

Don't sell the car tell to your friend. Because 500k dollars for bitcoin will not happen or very impossible to happen.
If they havr only extra money it"s okay what ever amount they can afford cryptocurrency is risky investment .

selling stuff's for btc's are okay as long as you know that you can afford to loose it . your friend migh be rich because he didnt mind risking a big capital just to get his hands on this bitcoin thing , anyway it is also possible for bitcoin to pumped really hard on the future so his decisions are still acceptable to me . also , this isnt the first time i heard that some people would risk his valueable things . last year , one family did even risk everything including thier own house and lot , car , appliances , furniture , etc just to bet it all in bitcoin .

right now , i dont heard any news from them if they are still alive from the cave that they used as a shelter .

A car is a depreciating asset, thats the biggest plus point I can think of for this plan.    However in this case it is also a working asset, the car being an extension of his income makes it a justifiable expense easily.

I dont really take these type of posts too seriously but I suggest dividing up your assets in this way is a good idea to stop over accumulating risky or value which can rapidly decline.  Especially if a person has any debt, its almost always best to clear the debt first and as quickly as possible rather then the idea of investment or in this case just plain speculation

tl;dr  consult a financial planner for a quick first look meeting.  A 3rd party has better perspectives on personal finance then most can maintain :)

It would be less likely that the price would reach that amount and I think he made a rush decision. What is he doing now by the way since you said he is thinking there's no need to work. Did he stop working now or not? He should have invested something he do not need so that he would not be emotional in case the price went down further. How long can he wait to reach that amount?

This will worth if the market grows before he needs the money for living or something emergencies because he sold the car for the risk of gaining that has no assurance.i am wishing that he won’t end up crying because of the stupidity he made because in crypto only INVEST WHAT YOU CAN AFFORD TO LOSE

Selling your car to buy bitcoins is not necessary because you can still work on bounty campaigns here in this forum in order to earn more income in the market, that is the reason why people prefer to work in this forum rather than working in the corporate world.

he doesn't know that the risk is always lurking. this will be a lesson for him that allocating funds according to financial ability is the main thing so you don't panic later. because the price might go up and down as long as he holds back and I hope he doesn't panic when the price weakens

I think that is an action that is not very good because it will make you lose and not too profitable because this bitcoin cannot be made for your main business or business, it is better if you use the car you have to find a job such as being a taxi driver or whatever that can use your car and can make money.

I think your friend may be disappointed. Although the price of Bitcoin will rise, it is impossible to rise to $500,000 because I can't see where the money comes from!

maybe you think it's the best choice for those of you who want to try to get trading capital and can buy bitcoin as fast as you can, but you have to know that there are other ways to get bitcoin without selling your car.

I hope that your friend wish will come true. Because i think it's be worth to sell a car and buy some bitcoin for investment. And you can get a big profit and it can be use to buy car again but we still have some profit

I think it is not a very wise decision because we cannot predict the future of bitcoin. Maybe it will rise soon but not to be exact as 2019. But his instincts tell him to do so and that he is sure of whT he is doing then go. What if it will really happen then it will be a very worthy. He can buy not just one car oit of his profit.

your friend has made a bad decision but if it works it means your friend is a lucky person, selling something that is obtained from a real job just to invest in high risk is a bad thing different from you selling a car that you bought from crypto to invest in crypto again not too problematic and not burdensome.

selling a car to invest in bitcoin is indeed a risky speculation, it is better that the results of the sale of a car not be invested all in the form of crypto currency because you can use a part of it to buy a car on credit, but this must be calculated correctly

In my own opinion you should only sell your car for cryptocurrency if there is an assurance that the price of bitcoins will pump immediately soon, in order to surely earn profit in the market and not losing the price of your investments.

If you want to sell your car as well as you can, you can think twice because I feel that if you sell bitcoin that you have then you will only get losses, you should be able to find other ways without having to sell your favorite car.

Selling something which are useful in our daily life for something which just needs your savings and does not need you to sell your car or home for investment. Whatever the situations may be you have to start investing in Bitcoin or other crypto coins only with your savings and nothing more to put your money at risk. It is risk for you because you do not know up till now that you have to use only your savings for investment indicating that you have no perfect knowledge.

If you want to buy bitcoin by selling a car it's not a wise decision, bitcoin is profitable but also full of risks because bitcoin prices are hard to predict. Don't be too pushy to invest what else makes the car at stake.

The problem with what your friend did is that while in theory what he did is a good investment, since a car only goes down in value while bitcoin has a lot of chances to grow up in the next years, the problem with what he did is that he has completely unrealistic expectations about what the price of bitcoin is going to be at the end of 2019, not even the most positive prediction that I can think will come to reach that price.

What he did was something very stupid. But I also believe that the bear market is over, and that it might be the perfect time to something very stupid. 8)

If he wants to take that risk and can accept the consequences, then do it.


Hahaha!!

Its totally a wrong approach. Bitcoin is highly volatile and he may loose his entire investment. One should invest only his surplus worth in crypto Or upto that amount which he can afford to loose. I totally disagree with your friend's decision. I would like to call your friend a gaumless guy.

if I suggest, you should do a short trade.
because bitcoin will not grow higher than 8k, only for this year. that's what I have analyzed, but it is likely that after this year the growth will begin soon.

Actually, I do not think that the buddy made something very wrong. Yes, this step was might a bit risky but listen, people: if he succeeds, he can buy two or three cars as he had before, and this is true!

But many people who do sell their cars to buy Bitcoin as long-term investments,
not to short trade. We are all sure the price Bitcoin in the future will definitely increase dramatically.

Something like this is a manifestation of a great faith in bitcoin. If he is convinced that it will be as he predicts, i wish him good luck and be a very rich man. Some people sold not only a car, but for example the whole apartment, they took out loans to invest in bitcoin. I think bitcoin will grow in price, but when it's a question. But i would not risk that, it's a little lottery. Bitcoin can be over $ 500,000, but also not. Everything is just a prediction.

Your friend I think is out his mind. because if you are in good mind or you know the best for you , you cannot sell anything that you already have . Taking a risk is good to earn more money but in a different way like spending and buying their extra money because most people lost their house and lot because they sold it for the investing in cryptocurrency without enough knowledge. If he prevent selling his car that is good try to know different way.

indeed for all investments there is always a risk, but if you don't want to face the worst possible risks, then you will not be able to get an experience, because investing in crypto bitcoin is a good decision right now

I agree, bitcoin compared to car can be much profitable and this will increase gradually in a perfect time. We will be able to see price at it's highest peak of profit bracket. Short term trades isn't a good idea, but if that money from sold car will took longer terms of waiting for btc price to rise there's a great future awaits.

it is an action that I don't think is too good because you sell a car that you can use to work with that car. You can get more money and it will definitely be safe because the risk is not too high, different from you playing on bitcoin, the risk is very high.

Well i'd say this isn't a very good idea if you ask me but i'd imagine those people who took a risk with their properties at the start of 2017. They'd probably tell you it will be all worth it. But then again, your car, your call.

I do not advise other investors to follow the path your friend is taking, if he truly needs to use the car for his work, he should not even sell it away in the first place as he might struggle to generate a stable income in order to sustain his daily expenses, this type of investment method is basically pure gambling, as the investor are just hoping to see the amount of money he invested to increase in huge amount and this is pretty unrealistic in reality.

It is a crazy thing to sell your things to use as capital in Bitcoin investment except if you could predict the price movements then better sell your house and lot too but if your friend know how risky is Bitcoin investments is due to the price is really unpredictable then your friend will probably not going to do that.

He can buy more cars better when he succeeds or he has to use his old car for a long time. We can't advise him precisely in this case because this is a difficult decision and risky.

Consequences of this act may result in bad experience if you are a new person here in the market with no practical experience. On the other hand it will result in profit if the person is enriched with a lot of knowledge about crypto investment so he will not face with any difficulty. As a whole it depends on the knowledge and experience of an investor will result accordingly.

Simple make a decision according to your savings if you have saving amount then you should proceed for investment and if not then you do not have to put something in risk. If also depends upon your knowledge if you have enough knowledge then you can think about investment otherwise it will result in loss if you have little knowledge and will be danger for you and your future.

This is a completely unreasonable and inappropriate act. Whatever you believe in Bitcoin it is not wise to invest money that is devoted to everyday life, you need to invest money that is not needed to your daily life.

Every time you start investing there will be a risk, especially if you don't do the right research on the funds invested. Don't invest too much, make sure you make decisions based on logic. As long as you are comfortable, you will not lose the money you have invested. In addition you are also able to make decisions that will be profitable in the long run.

Depends on how much he needs his car. I mean car is not a good investment anyway and if he can use some other transportation I do not see any problem about it. I had a friend who lost money after he sold his car and got into bitcoin however the trouble is he started during all December ath times and he was there when everything fall together and lost money incredibly for a long time. If you think you can make profit than there is really no way not to do it considering you are already losing money by using your car, public transportation is cheap and even free in places, use them instead.

Actually mate I don't think putting all your money to crypto was a good idea to think of, because we don't know how volatile the market is. We might be panicked in the future fluctuations which brought us nose bleeds in the future. Just think of enough budget and don't waste you car or even thus high valued wealth, you'll regret the wrong decisions after all.

I do agree that such move is undesirable as it is a pure gambling. It might be of high possibility that one would profit in investing in this market. But the question is when? It has to be understood that this market is very risky and at the same time unpredictable when will one have a big profit. Thus, it is impractical to sacrifice one's needs such as a means of transportation and house for btc or any altcoins investment.

I think that no matter how much trust you have for the future of bitcoin. investing funds beyond your financial capabilities is not a recommended thing, beside don't invest more than you can't afford to lose, you also have to adjust to your financial abilities to alocation funds. don't be too ambitious by risking your wealth, because the risk of bitcoin can happen

there are many ways to invest in bitcoin and cryptocurrency, if your friend think that selling his car are worth to invest than i will support him. But, i used to invest in cryptocurrency with my spare money, so i buy some and hold it in very long term period. No matter how the market will goes, it will not impact my investment. Why i tend to invest in cryptocurrency with my spare money and hold it in long term investment? because i know exactly that bitcoin are vory volatile and short term investment has a bigger risk rather than long term

hahaha is actually a very good idea, but you pack the story in a unique and funny way for people to read. One time BTC will reach its glory, just wait  :D :D

I guess this is a manifestation of how stupid this person is,to sell his car to invest in profiteering that he has no assurance,and when thy fails then the blame will be on bitcoin again damn

Always remember that invest what you can afford to lose and this is the reality of cryptocurrency and no one can take this from happening

investment in bitcoin is very profitable. but that is not a wise choice when it comes to sacrificing work that produces the real world. we still do work as usual and set aside a portion of the results to invest in bitcoin. because by selling assets that we have we can only wait until the expected time, without generating the cost of daily living.

Everyone is free to do whatever decent and legal ways they want just to invest in crypto like bitcoin and others. You can sell your car if you want but make sure that you already know the risks you're into because anytime, bitcoin's price will fluctuate so hard that may disappoint and hurt you emotionally.

yes, everyone is free to do anything for their business, but I might not sell my bitcoin for bitcoin. well, I studied cryptocurrency to make money, and bought a car with it, because I am not the type of big investor who is willing to take big risks.

before we decide to invest in bitcoin then we have to know about the risks and we must be able to make decisions wisely, bitcoin prices are difficult to predict so by risking it all it will be very risky even if you succeed and have the right predictions then you will become rich

I think that one should invest extra money in bitcoin because investment here is not guaranteed and you may lose your money due to fall in the price. Now you want to sell your car for bitcoin investment, it means that you have no extra money, but think that if you but bitcoin today and the price fall tomorrow and you need money then what will you do? Definitely, you will sell your coins for low price.

Being dependent on predictions doesn't guarantee to earn,  better invest few amounts or just try to allot some amount on crypto, not all and definitely not by selling stuffs that we worked hard before. Try to weigh which is more important for you so no regret whatever happens.

in my opinion it's up to you, but before you do it it's better to think about it again because you have to know that bitcoin has a high risk and it could be that what you predict is wrong so it will make you lose everything

He doesn't has much money and he sells his car to invest in bitcoin?. But this is a gamble, no one knows when bitcoin will rise. It is better to use some of the money to invest  but not all. And keep the remaining money for bad days.

This is a good example of people who has a heart about bitcoin as he believes that the price of bitcoin will reach $500k just 15 months from now. It make sense as even if the price will not hit that higher price or just $30k he will then triple his money. It's a risk or gamble on his friend but the return will be huge if bitcoin will make a strong rally.

he invests in something that is unstable and sacrifices his work. in my opinion he is very stupid, he must work and save a little money to invest. he said flat? maybe he has to wait even longer. lol

   I think $50k is more reasonable prediction for next year. $500k is way too
optimistic prediction for just 15 months. I believe in that price one day, but
not before 2025.
   It's nice when someone believes in Bitcoin enough to sell a car or anything
else to have for investing in crypto-currencies. I have extra money and I don't
need to sell anything, but I support people who believe in great Bitcoin future
and if selling something is only way do it, later this people will have enough
Bitcoins.

Your friend is too brave to take risks, sell cars to invest in bitcoin. Your friend is too excited and too predictive above the fairness limit, because 1btc will find it difficult to reach the price of 500k.

If 500,000 ever happens I dont feel it will be in a world operating in a positive situation.    500k is possible but not likely without extreme circumstantial changes such as US Dollar collapsed for some reason, maybe China sold all their treasuries and let the value fall to nothing.
Its unlikely to happen any time fast as China would lose money that way but alot of countries are backing up the value dollar which in turn people measure Bitcoin or many other prices by.     If you look at Zimbabwe or Venezuela more recently, any price is possible because the scenario is that no prices matter by that point in time.

   We have democracy and I pray it never comes to this, I'll take the lower price if we just get BTC more popular its good

maybe for personal it is a good action because by selling a car that you own you can have trading capital to use trading in bitcoin and altcoin, I've read there are people who sell their homes only for bitcoin and after that the price of bitcoin becomes very expensive and the person is lucky can get a profit of more than $ 20,000,000 thanks to selling a cheap house just for bitcoin.

Buying during bear markets is usually the best time to get a bargain. Ultimately it is up to your friend's risk appetite.

Every individual think differently. It is up to you that what you are expecting from bitcoin investment. Are you ready for any situation of the market? Can you bear the loss if the price drops? There are so many factors that you should keep in mind before you make investment in bitcoin. Bitcoin investment is very risky and will have to take this risk, although it is very profitable.

I think your car is old and you want to change it otherwise I don’t think it is better idea. In my opinion people should invest only extra money in bitcoin because it is very risky and there is no guarantee that you will win money after some time. you may lose your investment because it is not like regular business. Anyway good luck for you and hope that you will be happy.

Selling car for the crypto investment is irrelevant and investors do not think about it and do not consider it to sell something and start investment. This can be okay if you sell out your useless car that is not in need right now, now you have a new car and can sell out your precious one.

This will enable you to invest in Bitcoin or any coin that you see best for investment. Right now you will not find any other best choice other than Bitcoin as it show low price market availability.

Because of risk you should never go all in or sell something you need to invest in btc

I want to believe that your friend sold one of his cars, meaning that he has a spare car which translates to spare cash. If that is the case, he won't feel bad for the fact that price of cryptocurrencies have been in decline for long and he may not be able to realize his $500,000 per bitcoin dream on time.

"1 BTC will reach 500 000$ till the end of 2019"

If this is true..... *lost for words*

(If it sounds too good to be true it probably is  ::))

How should I read this

1. Because of risk you should never go all in, or sell something. You need to invest in btc.
2. Because of risk you should never go all in, or sell something you need, to invest in btc.

Investing in the crypto world is very risky, that is why for me selling your own car to invest it all in the crypto world is not a good moves, because if you have a good job in the real world you quite it, and spend you all times in the crypto worlds, is not good decision, but yes its depends on his discretion on what they want to do,  because he is the one who can create his future, because all things happen in our life as human is depends on what we choose.

in my opinion selling cars and investing in crypto is not a good choice, cryptocurrency has a high risk, because cryptocurrency can decrease in a short time, but the choice is in your hands, especially at this time the price of all cryptocurrency prices have decreased. especially bitcoin.

that is so cool

So, how did it go? Did he panic sell at $3500 in december 2018?

Selling car for Bitcoin is a better choice, this needs to be done at the right time. Whenever the market is in the downtrend, selling car for bitcoin is a good choice. Already some has proven to the world selling all the belongings in exchange for bitcoin and profiting out of the same.

The thinking about the market growth and doing nothing is a bad choice. Already we're in the end of 2020. Op should take his friend to some refreshing centre and make him understand the reality of the market.

It all depends that if you sell anything and bough bitcoin and if price rises and you benefit then good and just in case if it falls then it is going to be a bigger problem because you lost money and now you may have to hold it or sell in a loss and again if required will have to buyback that sold item. So, if one can hold for long and does not require any specific thing then selling could be a good option.

I know some disapprove of replying to old threads but I like the perspective and the consideration of the long term backing to BTC vs other assets here is interesting.   The car is not an asset exactly, its a depreciating tool with utility that might be useful to the owner or not and thats the main consideration.   Almost all cars in the last two years since OP posted will have lost a fair bit of value plus other costs where as the BTC from that point has appreciated and has been useful or a store of utility without exactly requiring a cost to keep it which adds to its value and allows it to be traded as an asset I think.
  Back in 2018 it wasnt clear if we were reaching a reasonable point to hold, it appeared to be gloomy at the time.  I think I diversified BTC into gold at that time, only a small amount but it seemed reasonable and yet BTC is a far more active asset and has outperformed gold though neither has done badly longer term.    I much prefer to consider over time rather then most threads panicking on the latest sell or post froth from a sharp rise

At the time on where this thread had been created.The price of BTC were just only $6400+ which basically means that his friend had already made out some profits
or almost doubled out the investment unless if he hadnt sold those coins if it goes below into that entry point.Well that was a good decision and it did paid off
even though he would sell it out this time around.
It isnt a bad idea but in terms of risk then its never been considered on the safe side.On hacking matters then theyre always there thats why
its always been wise to set out the best security and to look with those funds.

Despite the fact that the topic is already quite old, I believe that the idea is still relevant, when you can sell unnecessary things and buy Bitcoin for the proceeds. This is still the best way to transform unnecessary junk into a fairly promising investment, especially if you put them in long-term storage. One way or another, if the user has a goal to buy bitcoin, then it is better to spend not real money, but to acquire cryptocurrency at the expense of unnecessary things.

Cars are consumptive stuff, so in everyday life, it’s not so much needed. You sell it for investment, it’s an excellent decision. At that time, the price of bitcoin was at a low level. If you sell it now, you already make a profit. But if I had a lot of capital like you, I wouldn’t sell it, I’d wait for a higher price.

Lol I just came across this thread.  Seriously he sold his method to get to work in hopes of bitcoin rising.  Talk about going all in.  While I respect people who take chances in life, eliminating your ability to work and pick yourself up if you are wrong is the dumbest thing you could do.  I mean I believe in bitcoin but there is always a good chance it will fall from here for multi reasons.  500k was a little off too  :P

This case seems to be inversely proportional to me, I in 2018 bought a car with bitcoin,
and in 2019 bought a house with the results of doing bitcoin too, my advice is, don't sell your assets to start investing,
bitcoin is very risky friends, if you buy Bitcoin by way selling a house, of course it can make your emotions not awake

He should done a thorough research himself  before risking a huge amount of money. If he only done a research he should have know that the prediction is way off.
It would be worth if if he only done the investment at the year 2017,
but as of now Bitcoin is building up its price again.

its past 2 years now since your friend sold a car for btc, mind us telling an update in regards to your friend . do still have the btc ? or he already sold it before. its also 2020 now but no 500k usd has been reported but there are 500k   local fiat value of 1btc right now to some parts of country .


buying items using btc or any crypto  is a hell lot better than selling items for crypto . you did really buy a car using a btc ? as in you use your btc ? to what site ? thats cool.  i know theres alot of simillar offer of selling car , house for btc but im more curious to know if there are succesful buyers using thier btc/cryptos

In fact, a very narrow circle of people can use cryptocurrency to sell or buy real estate, cars or other property. In addition, one must take into account the fact that the main factors that we pay attention to when buying a house or a car are the characteristics of a particular product, and not the interest of the seller or buyer of property in cryptocurrency. In fact, everything happens differently, and to a greater extent people convert fiat funds to cryptocurrency or in the opposite direction after selling or buying property.

Exactly, selling our property to buy crypto currency is not at all recommended because it's extremely volatile and anything can happen in future. Do you think buying and selling property with crypto currency will one day become common place? No I am strictly against it.

There are lot of real estate companies who are ready to offer houses with BTC But it's highly risky and I really don't think it would favour us.

This thread is a proof for someone who think they can become rich quickly if they buy bitcoint and they can survive till their death from the money they made is best stupidity. Invest on anything only if you have spare money or else just keep earning until you have free money.

I remembered this thread for the following reason: the expansion of electric cars and the pressure on the owners of gasoline cars. It seems that now it is really important to sell a car (especially if it is gasoline) and invest in something (not only in bitcoin), since the trend to ban/restrict cars with internal combustion engines is increasing  :D

I don't think there is anything wrong with the OP's to sell his car to buy Bitcoin.  I still remember the wise words of Muhammad Ali; "He who is not brave enough to take risks will accomplish nothing in life".  I have seen some people who are successful because they dare to take risks, although many also go bankrupt because they take risks..

just an example; If you sell your car which is in the $ 5k - $ 10k price range and then buy Bitcoin in March 2020 (when Bitcoin is at $ 5k) then you are currently 2.5x profitable. so there is no loss if you buy Bitcoin at the right price..

I think selling valuables in your life just to buy crypto currency assets is a careless act, of course you don't have to sell your house or car, and buy Bitcoin with it, remember, now the price of Bitcoin is very expensive, different when in 2010, many people sold their house and bought Bitcoin, and now they have a huge profit, but now you might end up losing a lot if you sell your car or house to buy Bitcoin, Bitcoin will indeed have a higher price than it is now, and that's a prediction, but you also do not need to have a high risk

It is indeed an awful decision for OP's friend to sell his car, so he could invest or buy bitcoin because he believes in a prediction that bitcoin would reach $500,000 by the end of 2019. I assume that man is already upset from the mistake he had made, but I think he still made a good profit if he tried to hold until this year of 2020. However, if he tried to invest his money way back 2010, his decision was great that he could buy two cars and a house.