I Sold 2BTC at $3,000 and BTC Bumped to $10,000

[xvids]

I got the 2BTC from a business deal around January this year. I knew that Bitcoin was going to bump anytime soon but still went ahead to sell at $3,000+ each. Why did I sell at such a ridiculously low rate when I could have gotten x3 of the value if I had waited for few more months?

I was away in Dubai for work while my family were staying back home in my home country. They were 100% dependent on me for food and sustenance. Allowing the BTC to sit in my wallet while my family suffers was not an option. So, I decided to sell and solve my immediate problem to feed and cater for them. Did I make the wrong or right decision?

Well, no doubt I would have gotten $20,000+ if I had retained the coin till now, but what if my family died of hunger? Money is as good as the problem it was able to solve, that's the lesson I want everyone to learn here. Very too often I see people advising not to sell your Bitcoin, that you will gain more if you hold on and sell at a later time. While that may be true, you still need to understand that Bitcoin is supposed to be money, not investment asset. It is meant to be spent on daily basis, to solve problems, and to be in constant circulation.

The idea of hoarding Bitcoin and other Cryptocurrencies, waiting to sell at later times for higher returns is the reason Crypto is slow to be adopted in mainstream transactions. Anyone who gets it try to hold on to it, as long as possible, thereby depriving the market the needed circulation to keep these currencies viable and acceptable.  

I once heard of a man who had Bitcoin and was sick. People advised him to sell and get the needed cure but he decided to endure the sickness and wait until the price goes up. He died of the illness and the Bitcoin was rendered useless, with no one having access to it.  

Have you ever sold your BTC at low rate and it later bumped and you were regretting...?

Just understand that there is hardly a better time to sell your Bitcoin. Anytime you sell (at any amount) is a better time, provided you use the money wisely.

It is true most of us couldn't hold our crypto because we have family to feed and bills to pay.
So as long as you spend it wisely and it is used for your familoes survival then there is nothing to regret,
Because we don't have a choice we couldn't let them starve just to wait for the price to increase.

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[leftgirly]

In life, it is not all the time that one wins. There is no need to regret about selling, just be proud that you did what was necessary for the greater good of your family. Looking back, I think you did the right thing. That is what any good man would do for his family. Sometimes we just have to make some decisions when is necessary and not worry about the future consequences.

[elisabetheva]

What you experience may also be experienced by many, as well as myself.
I've experienced when bitcoin was in its prime and got a lot of benefits.
but when in 2018 the bitcoin was difficult I experienced and suffered losses.
actually it depends on the needs also if we want to sell it even under any circumstances, and we should not ignore it.

[BITDV]

Your story almost same with me

In quarter two 2017, I quit from my job even though i have high position as director and high salary, in that time i just think i want to build my own start up and i have capital using bitcoin for around 20 BTC. I put my wish with my startup staff too much while their quality is very low(i realize after bankruptcy), one year with my small startup cost me some bitcoin, and in the end of 2018 i decide to close my startup and bankrupt. Owh this is so hard for me, i dont have any salary or income and then have to live with this.

My wife's also told me that she believed that bitcoin price will increase around june or july, she told me to keep bitcoin for later and live with very minimum cost. I also believe with bitcoin price will increase, but i can not enjoy the time when my family and child live in bad environtment and without support from everyone around me, i sold my 15 bitcoin for around $4500- $5000 just for move to another city and for living cost.

Now i still have a debt, and still not work for more than 4 month after my bankrupty, sometimes i got food and sometimes not.

The lesson from my experience are

1. Don't judge people easily, and tell everyone keep coin keep coin. Everyone have their need
2. Don't ever accept people with low quality into your startup or job
3. Don't ever accept people because of your pity to him
4. Don't get depressed while something bad happened, come back again and show you are great

bro dantee1, i know and i believe you can come back. Good luck bro

[dantee1]

Your story almost same with me

In quarter two 2017, I quit from my job even though i have high position as director and high salary, in that time i just think i want to build my own start up and i have capital using bitcoin for around 20 BTC. I put my wish with my startup staff too much while their quality is very low(i realize after bankruptcy), one year with my small startup cost me some bitcoin, and in the end of 2018 i decide to close my startup and bankrupt. Owh this is so hard for me, i dont have any salary or income and then have to live with this.

My wife's also told me that she believed that bitcoin price will increase around june or july, she told me to keep bitcoin for later and live with very minimum cost. I also believe with bitcoin price will increase, but i can not enjoy the time when my family and child live in bad environtment and without support from everyone around me, i sold my 15 bitcoin for around $4500- $5000 just for move to another city and for living cost.

Now i still have a debt, and still not work for more than 4 month after my bankrupty, sometimes i got food and sometimes not.

The lesson from my experience are

1. Don't judge people easily, and tell everyone keep coin keep coin. Everyone have their need
2. Don't ever accept people with low quality into your startup or job
3. Don't ever accept people because of your pity to him
4. Don't get depressed while something bad happened, come back again and show you are great

bro dantee1, i know and i believe you can come back. Good luck bro

Your story is really touching and I salute you for your courage. True courage in the face of trial is what brings out the best in any human being. I admire your spirit.

I lost a startup late last year too, after I have spent well over $100,000 in it. I even sold my website that generates $2,000 monthly from Adsense (which was my source of income) just to finance the startup. In the end, the startup still failed.

Some people were attacking me here, asking why didn't I sell half and leave half. Well, they simply don't know what my needs were, and how much I needed to survive at that time. The good news is that I am on my way to bounce back.

Thanks all for the encouragements.

[Twinkledoe]

Your story almost same with me

In quarter two 2017, I quit from my job even though i have high position as director and high salary, in that time i just think i want to build my own start up and i have capital using bitcoin for around 20 BTC. I put my wish with my startup staff too much while their quality is very low(i realize after bankruptcy), one year with my small startup cost me some bitcoin, and in the end of 2018 i decide to close my startup and bankrupt. Owh this is so hard for me, i dont have any salary or income and then have to live with this.

My wife's also told me that she believed that bitcoin price will increase around june or july, she told me to keep bitcoin for later and live with very minimum cost. I also believe with bitcoin price will increase, but i can not enjoy the time when my family and child live in bad environtment and without support from everyone around me, i sold my 15 bitcoin for around $4500- $5000 just for move to another city and for living cost.

Now i still have a debt, and still not work for more than 4 month after my bankrupty, sometimes i got food and sometimes not.

The lesson from my experience are

1. Don't judge people easily, and tell everyone keep coin keep coin. Everyone have their need
2. Don't ever accept people with low quality into your startup or job
3. Don't ever accept people because of your pity to him
4. Don't get depressed while something bad happened, come back again and show you are great

bro dantee1, i know and i believe you can come back. Good luck bro

Your story is really touching and I salute you for your courage. True courage in the face of trial is what brings out the best in anyone human being. I admire your spirit.

I lost a startup late last year too, after I have spent well over $100,000 in it. I even sold my website that generates $2,000 monthly from Adsense (which was my source of income) just to finance the startup. In the end, the startup still failed.

Some people were attacking me here, asking why didn't I sell half and leave half. Well, they simply don't know what my needs were, and how much I needed to survive at that time. The good news is that I am on my way to bounce back.

Thanks all for the encouragements.

I sincerely understand those situations mentioned above. Though I am not a big time holder of bitcoin, but I went to this same situation also and happened several times and still happening. Converting my bitcoin to fiat in order to cater my daily necessities. Yes, I wanted to hold but what can you do if you need to pay your monthly bills like rent, and electricity. I don't want to take loan just because of that knowing that I have btc that I can use. So slowly, I am using my btc even if I wanted to hodl. No one cares for your basic needs so they don't have a say to your coin holdings.

[nydiacaskey01]

If you are going to look at it like that, sold at $3,000 USD but later on BTC reached $10,000 USD you will really kick your self and ask why did you sell at that rate, but if you think back and ask yourself what was the reason back then, it will justify why you sold at $3,000 USD. You sold at $3,000 USD because there is a need that needs to be filled in, that enough reason for you at that time. No one knows at that time when BTC will reach $10,000 USD. YOu just did what you think is justifiable at that time.

[bryant.coleman]

I've sold tons of Bitcoin at around $200 and also sold even more ETH at around $5-$10 a coin. I sold because at the time it looked like a fair price and I needed to money to pay for electricity and buy more GPUs.

Yes if I've held till now I would definately get much more for it but you can't predict the future. At the time BTC when it traded around $200 it looked like it would break $200 support and head into the $100 area and maybe even double digits. And ETH at the time of the DAO hack was not looking good either, and it could of went back to $1 ETH a coin.

Sure if I knew what the future would bring I've obviously would of held but I didn't. Same with you selling at $3000. You said you knew it was going to go up but how sure were you? Not very. It could of went to $2000 then $1000 and you wouldn't be able to buy food like you've meantioned.

I sold close to 30 BTC in 2015, when the prices were around $200 per coin. I was without a job for 6 months in 2014, and was facing some financial crunch. I would say that the proceedings from that sale saved me from complete meltdown. But it can be hard not to think about what could have happened, had I held onto those coins. I could have received 100x, for a total of $600,000 instead of $6,000. That amount is not large enough to make me retire from the full time job, but I could have purchased my dream home. I still have some coins and my current target price is $250,000 per coin. I am not going to make this foolishness of selling most of coins ever again. The current prices ($10,000 per coin) doesn't look attractive enough, and if it is needed then I am ready to wait for another three-four years.

[Bagaji]

O P, you took a very nice decision for your family because this is for reason why almost all of work to earn money and I don't think that there is anyone that will blame you such a good decision, but I don't believe there was never a time since the beginning of this year that bitcoin market value has drop down to $4,000 let alone your claim of $3,000 except if you are just trying to create topic mainly just for discussion and not really what happened to you. If not I don't see why you should sell bitcoin at the rate of $3,000 when bitcoin value has not decline to such level since the beginning of the this year.

[dantee1]

it's a paradox... People are frightened by volatility, but the more people adopt Bitcoin, the volume increases and the currency becomes less volatile. The money in crypto is still relatively too small.

Yes, we have said it time and again. Increase in Bitcoin usage will result to increase in Bitcoin volume, and decreased volatility.

Thanks for the take

[Distinctin]

You should not consider investing if you will allow yourself to get affected by your personal problem.
In business team, business are separate from the owner, hence as a owner, you should have a job or business so you can use your income for your daily expenses, but if that BTC was not mean for long term investment, there's nothing wrong with that, you should your problem and you benefited on it.

What you could do best is not to sell it right away, maybe you sell 1 BTC then hold the other 1 BTC, that might have give you good value now, but you things happen already, you can't change that.

[Zero1One0]

Have you ever sold your BTC at low rate and it later bumped and you were regretting...?

Always happens to me. I've also learned to accept the fact the I can never really time the market.
When I need to convert BTC or any crypto to fiat. My immediate need will always far outweigh hodling any crypto.

Your CURRENT needs, especially if they are necessities, far outweigh any future value of any asset.

This is actually the reverse of what happened last 2018. Everyone is saying that I should have sold last Jan 2018.

So, just buy when you want to buy, then sell when you need to sell. I accepted the fact that I can't time the market so that I won't have any regrets.

[shoreno]

Now i know why you put a wink emoji on your thread title when i though that your supposed to be sad or pissed off because you sold too early  .  

and now i know why you recieve so much merits on your post becauss your post shows that you value the people around you more than yourself  .

those who gave you merrits are i think experience the same situation as you but even me , i will also do the same thing and infact thats what i do before up until now  .  i love to sell my coins as soon as i  have them because i have my family to feed

[Aldrinx00]

If it's for your family needs then you had made the right decision, it's an urgent situation health and life is more important than any cryptocurrency or money. I also experienced same scenario on my past and i never regret it because family is the most important to me.

[shield132]

I got the 2BTC from a business deal around January this year. I knew that Bitcoin was going to bump anytime soon but still went ahead to sell at $3,000+ each. Why did I sell at such a ridiculously low rate when I could have gotten x3 of the value if I waited for few more months?

I was away in Dubai for work while my family were staying back home in my country. They were 100% dependent on me for food and sustenance. Allowing the BTC to sit in my wallet while my family suffers was not an option. So, I decided to sell and solve my immediate problems, to feed and cater for them. Did I make the wrong or right decision?

Well, no doubt I would have gotten $20,000+ if I retained the coin till now, but what if my family died of hunger? Money is as good as the problem it's able to solve. That's the lesson I want everyone to learn this. Very too often, I see people advising not to sell your Bitcoin, that you will gain more if you hold on and sell at later times. While that may be true, you still need to understand that Bitcoin is supposed to be money, not investment asset. It is meant to be spent on daily basis, to solve problems, and to be in constant circulation.

The idea of hoarding Bitcoin and other Cryptocurrencies, waiting to sell at later times for higher returns is the reason Crypto is slow to adoption in mainstream transactions. Anyone who gets it try to hold on to it, as long as possible, thereby depriving the market the needed circulation to keep the currency viable and acceptable.  

I once heard of a man who had Bitcoin and was sick. People advised him to sell and get the needed cure but he decided to endure the sickness and wait until the price goes up. He died of the illness and the Bitcoin was rendered useless, with no one having access to it.  

Have you ever sold your BTC at low rate and it later bumped and you were regretting...?

Just understand that there is hardly a better time to sell your Bitcoin. Anytime you sell (at any amount) is a better time, provided you use the money wisely.

I agree with you, personally I don't look bitcoin as an investment option because this amazing coin, it's just a great method of payment, protecting privacy and etc. If you need money for yourself and are in a hurry, there is no doubt you have to do everything, sell things that you need. People have cancer and they sell houses, what if someone just sold 1-2 bitcoin? If you won't spend money, then any logic of collecting it? Poor man and person with a lot of money who doesn't use it are the same.
Also yeah, money has to be in circulation and I repeat that every time but seems almost everyone ignores that proposal and just says blindly: hold money.
That last story sounds like a fairy tail to be fair.

[Jonyshake71]

No doubt, this your post is very very helpful & have a lots of thing, to learn from this post. I must say, you had taken best decision.

I once heard of a man who had Bitcoin and was sick. People advised him to sell and get the needed cure but he decided to endure the sickness and wait until the price goes up. He died of the illness and the Bitcoin was rendered useless, with no one having access to it.  

Sad for him. It's true that bitcoin price is growing up day by day & it is one of the life changing project.
 But bitcoin can't be much more important than anyone's life. He had taken wrong decision.

Have you ever sold your BTC at low rate and it later bumped and you were regretting...?
Just understand that there is hardly a better time to sell your Bitcoin. Anytime you sell (at any amount) is a better time, provided you use the money wisely.

I've sold my BTC at a low rate, at a lots of time. Later it bumped &
i am Still regretting cause i had sold my btc without having any emergency issue.

[wildey]

You should not consider investing if you will allow yourself to get affected by your personal problem.
In business team, business are separate from the owner, hence as a owner, you should have a job or business so you can use your income for your daily expenses, but if that BTC was not mean for long term investment, there's nothing wrong with that, you should your problem and you benefited on it.

What you could do best is not to sell it right away, maybe you sell 1 BTC then hold the other 1 BTC, that might have give you good value now, but you things happen already, you can't change that.

but he does have a heroic story. sometimes, we really cannot be friends with the situation. there are times when we can't do anything but sell the assets we have because of the circumstances.

having a job, or monthly income will indeed be very helpful if such problems occur. right now, you really can't regret it, even I feel that it doesn't just happen to you but that happens to other people too. henceforth, try to follow this advice, sell the assets you have in accordance with what you need. if you feel that crypto is still very valuable, that is a very good thing to do.

[omonuyak]

The traditional market is not as volatile as bitcoin is and as such, I have seen the patient one makes the whole profits from the cryptocurrency market especially bitcoin investing.
If you could have held your coins for just a few days or month you could have sold in a very high price that could have made you rich.
Now we are using bitcoin as a store of values and not as a medium of exchange and as such it is very difficult to play in the other ways and remain relevant in the future! Time is coming when we would use bitcoin as money and as a medium of exchange or for transactions purposes but now we have to use it as a store of values.

[thesmallgod]

You mean you sell at discounted rate because I don't remember when 1 btc was $3000 at the beginning of this year. However, what happened to you is understandable. Any responsible man will do that for his family. It seems you have not seen how btc is being priced and spent early 2010. I read here on bitcointalk yesterday from a post back then in 2010 when someone is offering to pay 10000BTC for two large pizza. I am just imagine what will be going through the mind of the person up till today when he remembers the worth of btc now

[saladin7000]

You should sell when market at bullrun not otherwise lol