Sell now at 9.5K or use emergency cash?

[AppliedOptimal]

My car broke down and my mechanic said the piston rings are broken. I am in Europe and workmanship is expensive. I am thinking about selling some BTC for repairs and then another car. A friend of mine said he will sell his car to me for bitcoin. This is great and shows adoption is almost here.
I am pretty sure that if I sell, the price will increase, but I definitely need the car for groceries and other trips such as work, fun, etc. Taking the bus here is simply torture.
I could keep the repaired car but this is the second time it is giving me this error, breaking piston rings and this time I need trigger chain replacement, and other repairs as well.

My wife just told me we need to purchase book sets for both our kids. They are in private school and you need to purchase all the books and the experiment sets and all these cost good money.
 
I never sold a single Satoshi I always bought. I am thinking maybe it is time to start selling some. Maybe I can sell some eth instead.
Everyone can buy and HODL, but when you need money, you may need to sell even though the price is cheap. I have some emergency reserves but I honestly don’t want to dip into that, even though my instinct is on using the emergency cash and then replacing it as soon as humanly possible. But then, if everyone holds bitcoin and nobody spends it, how is it gonna be adopted?

What do you think? Use bitcoin or keep holding and use emergency money?

[Twinkledoe]

Honestly, if I have emergency cash, I would use that to cover the expenses first because deep inside myself, it is saying that bitcoin's price will increase. However, it is your prerogative to act on that. If you feel comfortable on selling your bitcoin, it is your choice because that's your money. But to wait when will the bitcoin reach to the level that you want, would be a hazy one. We can't exactly predict when will it increase. You might be waiting in vain in case you are waiting for that moment. But if you finally decide to sell some of your btc or eth, you should not look back at that moment. Move forward because if you keep looking on that moment, you will be crazy just thinking of that, if in case their price increases.

[gentlemand]

What type of car is it? I've never heard of anything eating its rings like that, let alone twice, and I've done some intergalactic mileages. There must be a giant design flaw or you have a crappy mechanic. And is repairing it and selling it going to net more than just selling it on Ebay as is?

Of course the price will rise after you sell for a need. That's the law of the cryptoverse. But you also need to think about what makes your life tolerable today, not just some point far off in the future that may never arrive.

[maianh09]

I think you should still fix your current car, wait until the price goes up and buy a new car from your friend. If you decide to exchange Bitcoin for a new car at present is the wrong decision. Prices may rebound to $ 11,000 in the following days. Think carefully before making your decision. I believe you will make the best choice.

[cabron]

Your BTC can be your emergency cash for now, you can withdraw it anytime you want but use your emergency cash until you badly needed to withdraw your investment like BTC. You're right 9500 is just too cheap to sell but if you have bought them for 8k or less, you didn't lose anything at all.

What type of car is it? I've never heard of anything eating its rings like that, let alone twice, and I've done some intergalactic mileages. There must be a giant design flaw or you have a crappy mechanic. And is repairing it and selling it going to net more than just selling it on Ebay as is?

Of course the price will rise after you sell for a need. That's the law of the cryptoverse. But you also need to think about what makes your life tolerable today, not just some point far off in the future that may never arrive.

My thoughts so. Broken piston ring rarely happen even for a car that I use heavily so where the hell did this guy go from east to west in a day?

[The Cryptovator]

Why are we holding bitcoin? Answer is simple, for our need. If we think bitcoin will go $100K and its possible to go but question is, when ? If we can't use bitcoin when we need then why should hold it? Family and our needs is more important from bitcoin. Bitcoin could be regain/rebuy again. So I will not suggest to use your emergency fund. Who know when need it, for example someone from family is sick seriously and you need real money immediately, perhaps you will not able to sell your bitcoin instantly. So you could use your reserve fund that time. I will suggest sell your bitcoin when you need for family or for you and try to rebuy it slowly. So you are not going to miss even there is bull run.

[Upgate]

If the need is pressing and you don't have any other avenue to monster up cash you can sell your bitcoin your comfort should be taking into consideration. But if you can still cope with other means if transportation then you can hold

[dothebeats]

My car broke down and my mechanic said the piston rings are broken. I am in Europe and workmanship is expensive. I am thinking about selling some BTC for repairs and then another car. A friend of mine said he will sell his car to me for bitcoin. This is great and shows adoption is almost here.
I am pretty sure that if I sell, the price will increase, but I definitely need the car for groceries and other trips such as work, fun, etc. Taking the bus here is simply torture.
I could keep the repaired car but this is the second time it is giving me this error, breaking piston rings and this time I need trigger chain replacement, and other repairs as well.

My wife just told me we need to purchase book sets for both our kids. They are in private school and you need to purchase all the books and the experiment sets and all these cost good money.
 
I never sold a single Satoshi I always bought. I am thinking maybe it is time to start selling some. Maybe I can sell some eth instead.
Everyone can buy and HODL, but when you need money, you may need to sell even though the price is cheap. I have some emergency reserves but I honestly don’t want to dip into that, even though my instinct is on using the emergency cash and then replacing it as soon as humanly possible. But then, if everyone holds bitcoin and nobody spends it, how is it gonna be adopted?

What do you think? Use bitcoin or keep holding and use emergency money?

Personally I'd ditch the car and buy a used one with way less problems than the one I currently have. Normally, bad piston rings often stem into more engine problems and you may have to replace the whole engine as a whole or get the top part overhauled (which also costs good money, somewhat on par with a used car) and if you're on a budget, that's definitely a no-go. I'd rather sell my bitcoins to fiat and just hope for the best, at least I used the coins into a useful cause compared to just having it sit there and hope that something will happen. Also, it will be one of your first purchases/expense with bitcoin (in a non-direct fashion) so it's a good thing. Emergency money should never be used in situations such as this, that's why you call it 'emergency' for a reason.

Also, this is more of a personal financial advice rather than a bitcoin-related matter. Take what I said with a grain of salt, and the final decision would always be yours as it is your money.`

[figmentofmyass]

I have some emergency reserves but I honestly don’t want to dip into that, even though my instinct is on using the emergency cash and then replacing it as soon as humanly possible. But then, if everyone holds bitcoin and nobody spends it, how is it gonna be adopted?

What do you think? Use bitcoin or keep holding and use emergency money?

i don't mind selling some coins here and there, but as a swing trader, i try to time my sells optimally when the price is high. in contrast to now---we're 2+ months into a bearish correction and 31% down from the highs. based on the monthly trend, we're probably gonna be testing $20k in a few months, so i'd hate to be selling now. so if it were me, and it's safe to dip into the emergency cash, that's what i would opt for.

don't worry about the larger philosophical questions of how hodling vs spending affects adoption. bitcoin was designed around human rationality, so let's just stick with that.

[TimeTeller]

Personally I'd ditch the car and buy a used one with way less problems than the one I currently have. Normally, bad piston rings often stem into more engine problems and you may have to replace the whole engine as a whole or get the top part overhauled (which also costs good money, somewhat on par with a used car) and if you're on a budget, that's definitely a no-go. I'd rather sell my bitcoins to fiat and just hope for the best, at least I used the coins into a useful cause compared to just having it sit there and hope that something will happen. Also, it will be one of your first purchases/expense with bitcoin (in a non-direct fashion) so it's a good thing. Emergency money should never be used in situations such as this, that's why you call it 'emergency' for a reason.

Also, this is more of a personal financial advice rather than a bitcoin-related matter. Take what I said with a grain of salt, and the final decision would always be yours as it is your money.`

If I would be in his position, I would probably do the same thing as mentioned above.
Buy a second-hand car with good history rather than trying to fix his old car that might cost him more later on/buying a new one.
Buying a new one might not be practical at his present situation.
And as someone also brought up, I think there's no problem selling his bitcoin if he bought it at a much lower price than 9.5k, right?
He already gained profit and he is addressing his daily issue in terms of transport. So I guess, he's already in the win-win situation.

[MonsterV]

I think you should still fix your current car, wait until the price goes up and buy a new car from your friend. If you decide to exchange Bitcoin for a new car at present is the wrong decision. Prices may rebound to $ 11,000 in the following days. Think carefully before making your decision. I believe you will make the best choice.

But OP does not have cost to repair car, damage to piston ring requires a very expensive cost, therefore OP wants to sell its BTC to repair car. I think OP's decision was right, car was too old to be used, it should have been replaced, if it continued to maintain its old car same thing could have happened because OP had experienced something similar second time.

OP is right because we can sell our BTC when things are urgent, daily needs are more important. I understand what you mean by that BTC might return to $ 11,000 but BTC is currently just break in support area and I think it's better to sell BTC for more needed things. If OP have leftovers, it's better to reinvest.

[FinanciallyFreeFox]

I would use the emergency cash or sell the Ethereum.

Or another option is fix your car and then sell it.

I don't know if it's an option, but can you use a push bike for transport instead of the car?

Personally I prefer to go wihtout the luxuries so that I can invest in my future.

I put my investments as my top priority over everything else, because I know I can make the money for essentials like car repairs, food etc.

We will always find a way for these things.

But if you don't put money away for your investments then you will always have an excuse for not saving, or for dipping into them.

That's just me though.

Also I wouldn't use the excuse that Bitcoin needs to be spent to increase adoption, that stage will come, but Bitcoin is too volitile to be used as a currency in the next few years.

It needs to be a reliable store of value first, and then a currency much much later.

I wouldn't think of it like you are going to be spending $9.k, I would think of it like I am spending $100k, because time is going to fly by and that Bitcoin is going to be worth 100k.

[rdluffy]

There's no problem if you have to use your BTC to fix your car, or to buy from your friend, it's an emergency and everyone is susceptible to sell BTC for this kind of situation
You should be glad because you have the money to do all of this, and you can get money after that

[vintages]

Car insurance would have covered this up if you had one.

Nobody is against one spending their Bitcoin, its just that sometimes, when you sell low, the price might increase then it becomes a lose.

My suggestion; you should choose from either repairing your car or buying a new one. Don't do both at the same time. Most times, we don't gratify all our immediate needs all at once but gradually. And instead of spending all Bitcoin at once, take some funds from Bitcoin and some from the emergency money to solve your problem. This way, you won't be losing totally.

[jossiel]

At what price you bought the bitcoins that you are holding today? we're holding because we want to use and profit on it in the future and I think the right time came for you. And if you are in this kind of situation and you have no other option or spare money to spend.

You have to do the right thing, if I'm on your shoe, I'll leave an acceptable amount for my stash and won't sell all of it. But if the case is different and it requires you to sell all of it, I guess you need to do the right thing although it may be hard for you.

[harizen]

What do you think? Use bitcoin or keep holding and use emergency money?

Nah, don't be confused about what to do.

If you need money for "necessary" things don't hesitate to convert your BTC if you currently DON'T have any choices to cover your expenses. If you can live or work properly without a car, then that's good to save your precious BTC. You have mentioned that you have emergency cash if that's enough to cover the expenses then good used it first.

Going to your concern about the car, analyze the cost of replacing Piston Rings and labor fees. Also, consult with other mechanics to have their second opinion. See if it's worth to spend for replacement or just add a bit for working second-hand car. Consider also how old the car is. Both of your BTC and emergency cash is at stake here so see if it's worth to spend it for replacement.

Bitcoin has a great future but you don't need to overreact to the point you won't sell anything even if it's badly needed. You can re-purchase BTC anytime if you really believed that holding for long will be paid off.

[ralle14]

Hold your Bitcoins, it's better to use the emergency cash you have before turning your Bitcoin to an exchange. It's also not a bad decision if you're leaning towards trading your Bitcoin for a car to avoid the troubles of repairing it again in the future. If you don''t want to spend your Bitcoins for now then use your altcoins since you mentioned selling eth is another option. Without the numbers it's difficult to decide but if the repairs on your old car is costly then buying the car from your friend is probably the solution.

[pooya87]

usually you never invest all your money in different things, you should have kept an "emergency cash" at hand for this matters. not to mention the popular saying: "never invest what you can't afford to lose". but it seems like you didn't do any of that so the answer is sell some now disregarding the  current price and what it might be soon, and try to have better plans in the future, have some emergency cash lying around so that you don't get stuck like this.

[todiboa]

Now it’s very unprofitable to sell Bitcoin, but if you do not have a way out and urgently need money, you need to sell Bitcoin for sure

[zviadits]

Use emergency money, you will lose a lot if you sell Bitcoin at $9.500. Be patient and keep calm, try to save a coin