Sell now at 9.5K or use emergency cash?

[Tylev]

Of course, we all expect a good increase in the price of bitcoin in the fourth quarter of this year, that is, in the next month. Therefore, of course, it is not wise to spend your bitcoins right now. If possible, it is better to use other means of payment. Of course, if there is no way out, then there is nothing to be done. You won’t get anywhere from running expenses. In this market, we miss a lot of good chances and good opportunities. However, we hope that we will still have many such chances.

[imstillthebest]

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?

there is that people that will buy and use bitcoin . mostly they are business owners and they are using bitcoin to pay for thier workers or to pay for other service while most regular people will only prefer to hodl thier coins  .  if your own an emergency scenario that financial is needed and you dont have any funds to use then i think its better to use some of your coins , you said you have eth then go use eth first if those arent enough then use bitcoin  . cryptos can always be obtainable but your personal life is more important   .

[Baofeng]

If I'm in OP's shoes, the decision is very easy, sell some of my bitcoin stash because of my emergency situation. Actually it did happen to me once in 2017, something came up in IRL that I need to liquidate almost everything can to cover the cost of daughter's hospital bills.

[Kakmakr]

Your car breaking down is an emergency, so I cannot see why you are not dipping into that for this repair? Let's say the price of bitcoin skyrocket now and you sold most of your bitcoins to repair your car, then you will have to dip into your emergency funds to quickly buy bitcoins at a higher price to capitalize on the Bull market price?

I just paid a lot of money for the complete replacement of a head & valves that seized, so I share your pain.    I did not touch any of my bitcoins to pay for this repairs, because I am going to fund this repairs with the future profits I am going to make on the Bull market that are coming. <Pretty confident that it is on the horizon.> 

[Jet Cash]

We need more information. New cars can create more problems and expense. Buying a used car can take you down another repair route.

What is the problems with your current car? I don't know what a trigger belt is, but if you mean a cam belt, and your engine has an interference head, then you may have bent the valves. The only reason that I can think of for broken piston rings is piston slap, and the second breakage may have resulted from an incorrect repair the first time. It sounds like a high mileage engine, and I would consider an engine swop from a crashed car. It isn't as hard as it sounds if you go for the purchase of the same model of engine.

[bryant.coleman]

Yesterday I sold BTC0.055 for around $500 (less than 1% of my holdings). I was short of liquid cash and had the option of selling either my coins or the equities that I own (both the assets are down now). I chose the former. I am sure that Bitcoin will surge upwards during the coming months. But I am not sure how much time it is going to take.

I would definitely not recommend using your "emergency cash". As the name implies, that amount is only for emergency purposes. If you use up all your emergency cash, and in case the Bitcoin exchange rates go further down, then in the end you may incur even heavier losses. This is my suggestion, but you need to take the decision on your own, as it is your money.

[shoreno]

you do have your own problem but its funny that your still thinking of the adoption thing   . just forget about the adoption . bitcoin is already popular now and will be more adopted in the future because your not the only one that hodls a bitcoin  . there are way too many bitcoin users that are selling and buying btc  ocasionally  .  when it comes to your own problem , you should better use the emergency money and not the btc because btc is down these days .

[Reatim]

There’s no one that can tell you what to do because those are you coins and the needs is also in your decision

But for me since you have emergency cash that you’ve mentioned,I guess you can have another option to think if will continue to trust bitcoin(the can bring you another card in future)or just sell them to cover the needs

Either way you will be the one to make it happen


Kindly consider holding Bitcoin mate because the future is near to achieve and cash can’t bring us those

[freedomgo]

You have a bad investment plan, your situation now should not affect your decision making with your holdings, because when you bought BTC or whatever coins you are also holding now, your main purpose is just to sell it as profit.

Don't be force to sell, I suggest use an emergency funds if you have or just borrow money.
Never touch your investment in emergency situation as it's a bad idea.

[yoseph]

I suggest that OP should make selling his cryptos his last option and when all other avenues leads to nowhere only then should he consider selling his Bitcoins and he claims he has some ETH,  I suggest that he either borrow money from somewhere or sell some of his ETH for his current situation.

[AppliedOptimal]

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?

I bought back in 2017 when it was between 3500-5000 Euros and never sold one satoshi. Only sold eth and others for converting them to bitcoin.

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

It is not an option. We will be taking the bus until the repairs are completed, which sucks ass. We are happy that kids books aren't in the calculation for now, but we will need to get that in a week or two I believe.

Don't be force to sell, I suggest use an emergency funds if you have or just borrow money.
Never touch your investment in emergency situation as it's a bad idea.

I understand your point of view, but I am in between two holdings. One is my investment, as in bitcoin, and the other one is my emergency cash, in the form of paper Euros.

Yesterday I sold BTC0.055 for around $500 (less than 1% of my holdings). I was short of liquid cash and had the option of selling either my coins or the equities that I own (both the assets are down now). I chose the former. I am sure that Bitcoin will surge upwards during the coming months. But I am not sure how much time it is going to take.

I understand this, and kinda agree with it. The only problem is that it is kinda expensive to get the bitcoin I sold not only due to high fees and sending money across banks but also because I have been trying to keep stupid banks out of my life. So, if and when my situation gets back on track, I may have hard time getting my bitcoin back. That is the reason I am having hard time deciding. Being a Libra does not help either (we have hard time deciding on things.: https://www.allure.com/story/libra-zodiac-sign-personality-traits)

Your car breaking down is an emergency, so I cannot see why you are not dipping into that for this repair? Let's say the price of bitcoin skyrocket now and you sold most of your bitcoins to repair your car, then you will have to dip into your emergency funds to quickly buy bitcoins at a higher price to capitalize on the Bull market price?

I just paid a lot of money for the complete replacement of a head & valves that seized, so I share your pain.  Angry  I did not touch any of my bitcoins to pay for this repairs, because I am going to fund this repairs with the future profits I am going to make on the Bull market that are coming. <Pretty confident that it is on the horizon.>  Tongue

I agree with some of the points other posters are making, but this sounds convincing. Yes, I think car breaking down is an emergency. I gave them a call today and they are still working on the damn thing. The shop had to send the engine to another specialist shop and they are waiting for the engine to come back. They will be adding larger and stronger piston rings, so it will be a custom job to make the engine being able to withstand more power.

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.

Sounds good to me. I am not a day trader, but I think my feelings on not selling are correct.

[Reid]

True.
There is a need for usage so that it can circulate more.
Yes, there might be still a lot of spare out there but it feels really good when you are using something different in a store full of people.
I guess that is just me. I want to be different than anyone.
That might also be the reason why I am here.

Soon, it should be usage that should be pushed and not just investing.

[Lucius]

I bought back in 2017 when it was between 3500-5000 Euros and never sold one satoshi.

I understand this, and kinda agree with it. The only problem is that it is kinda expensive to get the bitcoin I sold not only due to high fees and sending money across banks but also because I have been trying to keep stupid banks out of my life. So, if and when my situation gets back on track, I may have hard time getting my bitcoin back. That is the reason I am having hard time deciding.

You bought Bitcoin in range from €3500-€5000, and today is €8750, so you can only profit if you sell now. Since you need it for something that is necessary, I don't see why you have any doubts at all. If you think fiat is worse then Bitcoin, then spend fiat and keep crypto for another time.

I do not know where you live, but can't you make account on Coinbase and buy at normal price, if your local exchange is have high fees and higher prices than regular ones? Don't live in the belief that you can get the banks out of your life, you get your monthly salary in bank account, and you probably pay your kids private school with your bank account.

[Wilhelm]

Piston rings my ass. I'm no real mechanic but.... Unless your car has at least 300000km this is bullshit.
Unless you drive like a real lunatic. Added sand to your oil. Or have no air filter I find this hard to believe.

If you have low compression then I would be looking for a new valve gasket or at the most a main engine gasket.

[carter34]

You have a reserve right... And if you believe bitcoin is a good asset to you , what do you then think about tomorrow, the future. Your reserve may not increase a dime in that bank or hole you dug in your back house to put it but bitcoin can definitely.
Is your decision to do which you think in your mind and looking from above post too.

[AppliedOptimal]

Piston rings my ass. I'm no real mechanic but.... Unless your car has at least 300000km this is bullshit.
Unless you drive like a real lunatic. Added sand to your oil. Or have no air filter I find this hard to believe.

If you have low compression then I would be looking for a new valve gasket or at the most a main engine gasket.

Bought my Opel 1.4 turbo back in 2014 as a brand new car. Should have bought bitcoin instead THe car screwed me first in July 2017 by breaking the piston rings and the Turbo. The engine bed was fine, so the OFFICIAL service changed these parts with standard parts and gave me a 2-year warranty on parts. The car broke down with the same problem in August 2019, only one month after the warranty ended!!!
So, I sincerely doubt that I will be purchasing another Opel, which I originally bought because I trusted German engineering.
I still don't have my car back, and we had to take a bus to go to a concert. I am hoping next week, fingers crossed.

[dunfida]

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

The answer would really depend on you because not all people do have the same situation as yours and in fact its been always part of our life on having that kind of emergency situation where we wont have any choice but to get some portion of our holdings.The question is, would you compromise your childs education because you just want to hold bitcoin? Would you sacrifice yourself on commuting because of that? Your choice if you do sacrifice but it isnt actually that bad to spend those coins we hold on.

[pixie85]

What car do you have? I would appreciate knowing a brand and model of something that destroys piston rings so often. I have never had that failure happen in my life to me or anyone that I know. Maybe the cylinder is scratched or there's not enough lubrication

If you have some emergency cash on the side I would use that to pay the bills. Cash is inflationary so it's losing value. You shouldn't keep a lot in fiat. Better to buy gold or fix your car.

[AppliedOptimal]

What care do you have? I would appreciate knowing a brand and model of something that destroys piston rings so often. I have never had that failure happen in my life to me or anyone that I know. Maybe the cylinder is scratched or there's not enough lubrication

If you have some emergency cash on the side I would use that to pay the bills. Cash is inflationary so it's losing value. You shouldn't keep a lot in fiat. Better to buy gold or fix your car.

I wrote about the model and everything two rows above your post, check out my #38 please, you will see it.

[Wilhelm]

Piston rings my ass. I'm no real mechanic but.... Unless your car has at least 300000km this is bullshit.
Unless you drive like a real lunatic. Added sand to your oil. Or have no air filter I find this hard to believe.

If you have low compression then I would be looking for a new valve gasket or at the most a main engine gasket.

Bought my Opel 1.4 turbo back in 2014 as a brand new car. Should have bought bitcoin instead THe car screwed me first in July 2017 by breaking the piston rings and the Turbo. The engine bed was fine, so the OFFICIAL service changed these parts with standard parts and gave me a 2-year warranty on parts. The car broke down with the same problem in August 2019, only one month after the warranty ended!!!
So, I sincerely doubt that I will be purchasing another Opel, which I originally bought because I trusted German engineering.
I still don't have my car back, and we had to take a bus to go to a concert. I am hoping next week, fingers crossed.

Opel is not a car, is a monument to losing your manhood