This is why I sold my 0.67 BTC!!

[Faysal Fahad]

Hello Community! What’s going on? Hope you guys are safe & staying home! Basically, I live in New York (I’m an expatriate indeed) & you guys know the current situation!! We are suffering badly, although I’m not scared of! Last night I sold my loving 0.67 BTC, since I need cash money!
I believe, in near future when the situation will be normal, I’ll buy it again since I have no doubt on the future of BTC & its use case! Please guys, stay home stay safe & don't forget to pray for us.

[Dildo Shwaggins]

If you were in dire need of cash, I guess you are excused.
Personally I wouldn't advice anyone to cash out now though. I would especially advice not to panic and not to sell after a 40-50% dip. It is not different this time.The fundamentals have not changed and Bitcoin is still working exactly as it was supposed to.
Hopefully you will be able to recover financially soon and buy again without having missed out a lot.

Prayers might help raise morale, but mostly it is our actions that will help us overcome this obstacle.
Everyone must do their part to flatten the curve and allow our health system deal with this problem with ease.

[Jating]

Ok we understand your situation, indeed New York has been turning out to be the next ground zero.

I think you are not alone though, specially the panic that we have seen lately causing lots of investors to really cash it out because of the scare. Stay safe!

@Dildo Shwaggins - yeah, the fundamentals might not have change, but we haven't seen this kind of pandemic, BTC was born out of recession, this is a big test for crypto holders.

[LogitechMouse]

~

In times like this, you need to think twice or thrice to decide which will make you benefit and at this time selling Bitcoin for money is your choice.

I know the situation of New York right now since it is the state with the most number of cases in U.S. Just take care of yourself and your family there including your relatives. We hope that the situation there and all over the world will be ok as soon as possible. Selling your BTC right now isn't a bad idea since you've badly needed cash right now.

I believe, in near future when the situation will be normal, I’ll buy it again since I have no doubt on the future of BTC & its use case! Please guys, stay home stay safe & don't forget to pray for us.

After this pandemic, you will have the opportunity to buy it again so no worries .

[DaveF]

Makes you wonder if the bigger lenders on the board could make a decent business of lending fiat against peoples BTC.
Yes, it seems kind of heartless to make a profit off of this, but if you knew that your could have used your BTC as collateral against a loan at a low interest rate would you have done it?

Probably a bunch of banking regulations that you would have to work around (if you care) but as P2P it's probably also not that big a deal.

I don't have enough liquid cash to do it, but it might we worth a discussion between those who do.

-Dave

[Baby Dragon]

It's understandable since we're facing a difficult situation, people doesn't have any option but to sell their bitcoin to provide what they need during the community quarantine. A lot of people are suffering and struggling because they don't have any source of income to provide their basic needs. Besides, it's for your own good and there's still a chance to get it back. Anyway, stay safe and obey the rules of the authorities to secure your health.

[crwth]

You know that you have a choice to either HODL or SELL it right? If that is the case, it would always be the priority that you should be doing. If you needed to stay alive using money/fiat, convert your assets. In this case, your Bitcoin.

I hope everyone gets to get through this with the right decisions in life and help others when you have the capacity to help too.

[carlisle1]

Hello Community! What’s going on? Hope you guys are safe & staying home! Basically, I live in New York (I’m an expatriate indeed) & you guys know the current situation!! We are suffering badly, although I’m not scared of! Last night I sold my loving 0.67 BTC, since I need cash money!
I believe, in near future when the situation will be normal, I’ll buy it again since I have no doubt on the future of BTC & its use case! Please guys, stay home stay safe & don't forget to pray for us.

Why not take Loans instead?i mean other option than selling your LOVING BTC as you have said because there are Help from each government for the affected of this pandemic?

but if you have no other option then you are free to do such because this is your Bitcoin and you have saved them for crisis like this to be your last resort.

Stay safe mate and yeah we can accumulate again when the market stabilized in future but for now?we need to fill our stomach .

[mk4]

Why not take Loans instead?i mean other option than selling your LOVING BTC as you have said because there are Help from each government for the affected of this pandemic?

Not sure if I would suggest taking loans in this situation. We have no idea how long this pandemic will go. What if it stayed for like half a year? The loan would have then accrued a good amount of interest. I believe OP has taken the right decision here. It's not like there will not be another opportunity to invest in bitcoin, there's a lot of time for that once things settle down.

[DeathAngel]

Sad that you had to sell all the BTC that you own but these are tough times for everybody. Hopefully you can afford to buy back at some point because the next big rise will come next year.

[cryptoaddictchie]

No one here can advise you to hold it based on your current situation. Especially you are living on one of the highest expensive cost of living. Expatriate really taking the hit. If you are an expat, I assume the company can lend you money or at least advance your salary or give any financial assistance. My friends working overseas too but the company understand the current situation, and extend their hand to tighten up the budget for their employees necessity.

I am really hope that all affected can still hold while they can cause its not really advisable to sell at the moment. But due to this f***** virus everyone has been opressed to do so. Anyway, its done. Stay safe mate.

[johnyj]

Why not take Loans instead?i mean other option than selling your LOVING BTC as you have said because there are Help from each government for the affected of this pandemic?

Not sure if I would suggest taking loans in this situation. We have no idea how long this pandemic will go. What if it stayed for like half a year? The loan would have then accrued a good amount of interest. I believe OP has taken the right decision here. It's not like there will not be another opportunity to invest in bitcoin, there's a lot of time for that once things settle down.

I'm also seeking a loan right now, better stand on the bankers' side and mimic what they are doing right now, since they will always benefit from any crisis: When in crisis, average people selling assets for cash, and banks borrow cash from FED to buy assets cheap, and in boom time they sold assets back to average people and profit,  over and over

The only problem is that banks will not give out loan easily during crisis time, only themselves, so you need some government policy to ensure it happens

[bangdik123]

Sad that you had to sell all the BTC that you own but these are tough times for everybody. Hopefully you can afford to buy back at some point because the next big rise will come next year.

Indeed, with the conditions that currently require some inventory to undergo lockdown, it is very difficult for us to be able to survive to make investments, but that is why we invest as a reserve fund when we are in need.

Hopefully we can all face the hardships of life that we are currently living and soon the COVID-19 virus epidemic is over.

[The Sceptical Chymist]

If you were in dire need of cash, I guess you are excused.

Sure, I certainly wouldn't criticize someone for selling bitcoin to free up some cash if they really need it.  However, it seems like OP invested in bitcoin when he should have had a cash reserve for emergencies--this is exactly what sets up selling like this.  People buy bitcoin with money that they can't afford to lose and might need in a relatively short period of time.

I'm actually in a similar situation right now, but I'm only letting go of a small amount of btc and it's not because I absolutely need the money to live.  I'm trying to buy that damn e-bike, and I've pretty much given up on the hope that I'll find a bicycle retailer who'd accept bitcoin.  Anyway, good luck to OP.

[joinfree]

ouch! sorry, the pangs of life had to squeeze your hands to let go of such a GEM but then again, man must feed and take care of his family too. That's the right decision you took @OP because i know New York is one the states with over half of the COVID 19 cases reported from the US. Things are going to get tough over there but I hope our scientists come with a remedy to curb this disease.

[Fundamentals Of]

Hello Community! What’s going on? Hope you guys are safe & staying home! Basically, I live in New York (I’m an expatriate indeed) & you guys know the current situation!! We are suffering badly, although I’m not scared of! Last night I sold my loving 0.67 BTC, since I need cash money!
I believe, in near future when the situation will be normal, I’ll buy it again since I have no doubt on the future of BTC & its use case! Please guys, stay home stay safe & don't forget to pray for us.

Oh, that is a little bit sad parting from those loving BTC! Well, what can I say? Times are getting hard for now, for all of us almost all over the world. But this is definitely temporary. As soon as this pandemic is gone, we will be back with a much intense appreciation of this life and the world and the little moments within. Those BTC will be back on you very soon. Stay healthy and keep yourself safe!

[enhu]

The cash is badly needed this time of crisis so good to stay alive then having the BTC while your suffering. Think of today and what will happen to you today before thinking of what would happen to you in the next months or years. Good decision, who knows that price could go below $4k soon and you could buy back after the deadly crisis.

[Cryptoheavy]

Are you sure that situation is so terrible that you need cash? Maybe crypto card will be better solutions?

[NeuroticFish]

People usually don't need 4000$ in one shot. Maybe OP did need that much, I don't know.
Normally if you have to sell this low, it could be better to sell only the smaller amounts you need for a couple of  days/weeks.
I don't want to judge, I just try to give ideas. Of course, if Bitcoin will go lower, it was a good move. So everyone has to decide for himself after all.

[Raflesia]

Needs are most important what else when conditions like this we are at home continue to certainly require costs and money for other needs by selling your btc at current prices I think that's enough and someday will definitely come back to buy more.
Well, it's good that you believe in the full future of bitcoin because bitcoin will continue to be on top when it recovers from this pandemic.
But right now I am not insistent on finances so I will continue to hold bitcoin until I recover to ensure future prices.