Sell car for Bitcoin

[bintangkejoraku]

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

[1714783720]

1714783720

[Bezobraznike]

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 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.

   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.

[Dikarama7]

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.

[STT]

  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.

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

[Duogembrot]

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.

[Mobius]

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

[Arsedunn]

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.

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.

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.

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.

[samuland5]

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

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.

[richmcrich]

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

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.

[M.C.V.]

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

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

[brooklynian]

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.

[Wilhelm]

"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  )

[Wilhelm]

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

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.

[jemarie20]

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.

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.

[suzukiy]

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.

[erfaniii]

that is so cool

[Leon83]

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

[n0ne]

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.

[glowing10]

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.

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.

[STT]

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