Sell car for Bitcoin

[dohh]

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.

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.

[aizen10]

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.

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.

[Xena_Xena]

they have not much money for buy bitcoin so they sell car for bitcoin

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?

[KonstantinosM]

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.

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.

[Fire316]

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.

   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.

[Yadamosan]

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.

[Farma]

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.

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.

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.

[M.C.V.]

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.

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.

[Janeetaa]

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.

[albantani]

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.

[Rohtox]

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

[sakahayang]

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.

[Siren]

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.

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

[visionE2]

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.

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

[cfif123]

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..

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

[Pom_bensin]

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.

[hanlap]

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.

[iamzill]

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

[bitzizzix]

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.

[pundit]

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 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.