tumokatok
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September 22, 2018, 03:46:54 AM |
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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
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It is a common myth that Bitcoin is ruled by a majority of miners. This is not true. Bitcoin miners "vote" on the ordering of transactions, but that's all they do. They can't vote to change the network rules.
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BitcoinMarketer39
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ADABsSsSsSsSSSsS
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September 22, 2018, 05:59:03 AM |
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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.
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. |
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susuberuang
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September 22, 2018, 10:47:45 AM |
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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.
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vidprab5
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Create Your Decentralized Life
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September 22, 2018, 11:28:12 AM |
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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 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 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. |
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safarabela
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September 22, 2018, 02:53:23 PM |
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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.
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slyfox
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September 23, 2018, 03:18:52 AM |
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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.
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. |
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Wind_FURY
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Merit: 1826
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September 23, 2018, 06:35:02 AM |
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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. 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.  If he wants to take that risk and can accept the consequences, then do it. 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.
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vagsun
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September 23, 2018, 08:04:11 AM |
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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.
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. |
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Gontxi
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September 23, 2018, 10:50:50 AM |
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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.
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popolite11
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September 23, 2018, 04:58:23 PM |
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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.
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. 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! |
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riso2015
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Merit: 254
Trphy.io
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September 23, 2018, 06:24:07 PM |
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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. |
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chulos
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September 23, 2018, 07:14:38 PM |
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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.
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Clark05
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September 23, 2018, 08:09:12 PM |
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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.
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Muspion
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September 24, 2018, 06:41:50 AM |
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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. 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 |
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cryptojac17
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September 24, 2018, 08:38:25 AM |
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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. |
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mia khalifa
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September 24, 2018, 10:30:35 AM |
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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.
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gabmen
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September 24, 2018, 05:53:12 PM |
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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. 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 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. |
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Barcode_
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APP下载sbapp.io
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September 25, 2018, 03:39:22 AM |
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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 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. |
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KrishaBitcoin
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W12 – Blockchain protocol
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September 25, 2018, 03:53:51 AM |
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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.
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jeniferqueen0409
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September 25, 2018, 05:00:24 AM |
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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.
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. |
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