When you sell is no longer "yours"

[paxmao]

This may seem very obvious, but some people do not seem to clearly understand what selling means. For example, I know a few people for a mid-size village that, during a housing boom, sold quite a bit of land to developers and made a development plan that was pretty much crazy (high rise on small streets, minimal walkways, no space for public services, ...). They were very happy about getting the money. Now, all I hear is complaints about how many disgusting people that are not born there came to live to "their village".

When you sell, is no longer yours. When you sell your bitcoin for more than you paid, you may be happy about it, but unless you have an investment to make or would like to buy something else, all you have left is... fiat. And fiat finds its way out of pockets very quickly.

[1714862923]

1714862923

[The Sceptical Chymist]

It should go without saying that when people sell bitcoin they usually have need for the cash they get from it--unless they're just traders who're taking their profit off the table because they think bitcoin has hit a peak.  I've always had the feeling that a lot of smaller bitcoin owners are speculators who bought it with cash they're probably going to need in a month or two, and I think that's especially true during extended bull markets.

Regarding your story about the developers who bought land from people and did a lousy job with what they built: whoever sold them that land probably had to let go of it at some point.  Real estate very rarely stays in one family for more than a generation or two anymore, so I wouldn't fault them for selling it.  Unless you know the reason why they did, I don't see how they could be criticized for it.  I doubt they knew what the developers were going to do after they bought it.

[Charles-Tim]

I've always had the feeling that a lot of smaller bitcoin owners are speculators who bought it with cash they're probably going to need in a month or two, and I think that's especially true during extended bull markets.

This is not bad at all so far the fiat is used for something than holding it in bank. There are even non-crypto related works that are profitable, some people can think of selling some of their bitcoin holding for such reason, some will even sell some for other crypto and non-crypto benefits and opportunities.

When you sell, is no longer yours. When you sell your bitcoin for more than you paid, you may be happy about it, but unless you have an investment to make or would like to buy something else, all you have left is... fiat. And fiat finds its way out of pockets very quickly.

It is even better in developed countries like Europe and US, the fiat devaluation in developing countries and underdeveloped countries is much more while the developed countries fiat currencies are still centrally controlled and devalued.

The present bank app I am using have a very friendly GUI that even new users can be able to see 'save' which is just like fix deposit account. Some people can be encouraged with the profit, but the rate my country fiat has been depreciating right from 1973 when it was created is a good indication that what is calculated as profit will actually be otherwise after few years. I am still surprised that some of my friends are making use of fix deposit to think they are making profit, but many of them are not into one way of making money though.

I remembered my dad told me one thing many years back which is actually true, that what we use money to do is the value of the money we have. Keeping fiat is one of the wrong way to follow, if the money is not used for business, having it in fiat will be of depreciating devalue.

[verita1]

When I sell I do it practically closing my eyes. As my investment plan is to own everything in bitcoin and crypto and that every time I need to pay my bills I sell only what I need, my bank account is again empty.

My case is particular because I live in a country with inflation and I protect myself that way. In relation to your experience that people sold and complained, in part it is because the city administrators had a duty to adapt better urban planning, it is sad that the central power still makes mistakes like this.

[sheenshane]

When you sell, is no longer yours. When you sell your bitcoin for more than you paid, you may be happy about it, but unless you have an investment to make or would like to buy something else, all you have left is... fiat. And fiat finds its way out of pockets very quickly.

At least you've been satisfied during that time when you badly needed money and it will help you to solve your problem.

If you invested in Bitcoin, it isn't good to sell your Bitcoin at under the price where you purchase and it might no one will do this.  It is very tempted to sell when your profit was there and especially when you needed it even though your profit is just small.  If you're a short-term trader and talking profit once there even if it's small isn't have a problem.  I think no need to argue this, their money is their decision.

..And fiat finds its way out of pockets very quickly.

Exactly, because anywhere even if you're offline or online fiat is always very easy to spend, not like Bitcoin as of now the number of merchants stores that accepted Bitcoin

[Oceat]

I think I've heard some complaints about this before it's like some people are jealous to those early adopters because they are millionaires nowadays but the fact that most of them sold their Bitcoin early this doesn't count as them one of the millionaire. It's clear that most of us doubted our future because we really don't know what is going to happen and they were just right about it for selling but they didn't expect it to pump like this that's why most of them having a bitter taste of what was the result to their decision.

If someone would have known what would be going to happen in the future, I don't think Bitcoin or landowners would have sold it in the first place. It's a present decision-making not a future decision-making because they badly needed the money, so does the other owners of Bitcoin.

[Hippocrypto]

This may seem very obvious, but some people do not seem to clearly understand what selling means. For example, I know a few people for a mid-size village that, during a housing boom, sold quite a bit of land to developers and made a development plan that was pretty much crazy (high rise on small streets, minimal walkways, no space for public services, ...). They were very happy about getting the money. Now, all I hear is complaints about how many disgusting people that are not born there came to live to "their village".

When you sell, is no longer yours. When you sell your bitcoin for more than you paid, you may be happy about it, but unless you have an investment to make or would like to buy something else, all you have left is... fiat. And fiat finds its way out of pockets very quickly.

Sell you coins when perfect time comes, don't be bother of higher price because that's temporary. Keep holding your coins while we still don't see bullrun stabilized and surpass the challenges to beat $50k resistance. Normally, after recovery of bitcoin price every trader would do short term and set aside long term holdings. What I recommend here is dump only those quantities that you needed, but keep the other portions for future purpose.

[Ausgewielt]

I personally think that greedy human is ridiculous. Those who there is only money in their head are not good humans. In university my teacher told me that we need to make biggest profit using smallest cost, this statement is right but it doesn't mean that we ignore our common sense to prioritize humanity. I sell bitcoin only when there is a very strong signal that I have to sell but holding is also good if I want it for long term. That's why I don't easily sell my btc, probably I only sell every 3 - 6 months and it's enough for me to make profit.

[fiulpro]

That's because when you are selling a house or when you are selling a piece of land, you tend to have an emotional attachment to it, especially in villages, in tight communities where people grew up like that, therefore at the end of the day, they are going to make comments, ofcourse, but that's just emotions getting the best of them and not just *common sense*

When we are talking about investments like *Bitcoins*, *Stocks* they are on a different pedestal, they might not have that emotional attachment, plus people are able to *trade*, to instantly change them, convert etc.. it's something that might come with less of a burden.

That aside when they are going to say something like that again in the future, you must remind them, that's how it works, now they are also a part of the village, weather they like it or not, they can say all these things for years to come or they can choose to work together to make a better community.

Hopefully people can be kinder to other people in contrast to being kinder to inanimate things like *land*

[Darker45]

This is also my advice to others. If there is no urgent or emergency reason to convert your Bitcoin to fiat, don't do it. If you are only converting your Bitcoin because you are planning to buy the latest iPhone or an expensive bag or whatever unnecessary stuff, don't do it.

Please know that while you are squandering your Bitcoin, other people are saving really hard to be able to buy some. While you are mindlessly converting Bitcoin to fiat, others are borrowing money, selling stuff, and so on just to buy the dip. While you are buying the newly released gadgets using your Bitcoin savings, others are stacking Sats. Be like them!

[xSkylarx]

This is also my advice to others. If there is no urgent or emergency reason to convert your Bitcoin to fiat, don't do it. If you are only converting your Bitcoin because you are planning to buy the latest iPhone or an expensive bag or whatever unnecessary stuff, don't do it.

Please know that while you are squandering your Bitcoin, other people are saving really hard to be able to buy some. While you are mindlessly converting Bitcoin to fiat, others are borrowing money, selling stuff, and so on just to buy the dip. While you are buying the newly released gadgets using your Bitcoin savings, others are stacking Sats. Be like them!

 You have a point but its their preference tho if they want to sell just to buy those "wants" . But as for me we do have same preference since i only sell if i really need it but i am not in the point of borrowing to others just to buy the dip, i just want to hold and thats the only money that i can afford to lose

[Rruchi man]

And fiat finds its way out of pockets very quickly.

That's the mystery behind holding fiat currency, it is always quickly taken away by needs and wants. I completely agree with users who keep most of their earnings in crypto and only convert out what they need when needed.

It is always difficult selling your coins, especially when you think of the duration you've been holding and the prospective profit you could make from the coin if there was no need to sell. After selling, and say a pump in price follows, it is normal that there will be regrets and also a possibility to talk about the coins you just sold, which you have to know that is no longer yours.

[The Sceptical Chymist]

As my investment plan is to own everything in bitcoin and crypto and that every time I need to pay my bills I sell only what I need, my bank account is again empty.

Wow, that's ballsy.  I respect that, though there's no way I could keep all of my assets in crypto--it's just far too risky, and at my age I'm more risk-averse than I used to be.  But I bet you that the people who do keep all or most of their wealth in bitcoin (I'm not sure about most altcoins) are going to see it pay off big time within a few years.  My one big regret in crypto is that I didn't buy and hold bitcoin when I had a chance to buy it at around $200 back in 2015 or so.

My case is particular because I live in a country with inflation and I protect myself that way.

Do you know what the rate of inflation is in your country?  Every country has at least some inflation, but right now it's hitting certain regions harder than others.  In the US it's climbing, though I'm not sure what the exact official rate is (not that I trust it completely).  In any case, holding onto cash is a bad idea.  I don't know if crypto is a great hedge against inflation, but it's far better than keeping your money in the bank.

[kryptqnick]

If you sold some land, there's a very small chance you'll be able to buy this exact land again. But if you sell some BTC, you can buy some BTC that will be exactly the same from a usage standpoint. Moreover, you usually can't buy land in an instant, but you can always change your mind and sell fiat for Bitcoin. The price is a different aspect, but here I think it's just important to let go of regrets and not be greedy. Most of us have been here long enough to witness prices that were 10 times as low as the current ones, and yet few of us benefited from it at the time. However, focusing on the past isn't helpful, and instead we should focus on making fewer regretful decisions going on.

[lovesmayfamilis]

It is not surprising to hear similar responses on the Bitcoin forum: "I will never sell Bitcoin, even if something happens ..."
Unfortunately for many, I hold somewhat different views. If I sell something, I understand what I sold. It makes no sense to regret "last year's snow" I will sell bitcoin if I need funds to buy non-vital items. If I don't have enough fiat, I will spend bitcoin and buy what I want. In my case, it is difficult to say that fiat is slipping through my fingers since I acquire things that serve me for a while.
I'm not too old yet to squander, realizing that life is leaving, but I am no longer young to recklessly buy useless things. But I do not want to limit myself in my desires, waiting for some magical time to fulfill.
My teachers always said that you shouldn't count your money very carefully, otherwise it won't come.
Having parted with something, you should also not regret it, if something is sold, then something else will be bought

[Iron Fist]

I am most sorry when I have to sell bitcoin for consumable goods. Perhaps I have become too emotionally attached to the crypto. 
The problem is that you can never get money out of fiat fast enough to recover your investment in bitcoin or any other crypto currency.

Bottom line: Bitcoin is not for kids. Bitcoin is for real. Buy some. Buy and hold.
The profit potential for bitcoin goes way up every year. It has all the attributes of another technology that will change the world. The only question is how much bitcoin will be worth at the next bull run.

[Kong Hey Pakboy]

Greed usually hurts people bitcoin makes more profit in long term investments but it is better to hold it for a certain period of time and sell it without much greed.

The problem is that we could've prevented that from happening if we just made sure that we're well equipped in knowledge when we get into crypto, the reason why people that get into crypto are greedy is because they're people that don't have any prior knowledge in crypto and they just got into it because someone said something to them about crypto.

[Coyster]

The thing is, now that mass adoption of Bitcoin hasn't come yet, one cannot totally evade hodling fiat, it's not just possible, no matter how much you 'hate' fiat, you must hold some of it for basic stuffs/needs, thus that means you'll still have to convert some percentage of your Bitcoin to fiat every now and then. I have actually never blamed anyone for selling some of their BTC, if you sell your Bitcoin cause you want to buy one thing or the other you love or wish to own, then that's fine, and you do not have to regret if the price appreciates higher than what it was when you sold, Bitcoin would always continually appreciate irrespective of when you intend to sell, so you'll always see a higher price. I can only fault one for selling their Bitcoin cause of they lack believe in the network, likening it to a pump and dump coin, cause if you have done your research very well, you'll definitely not lose believe in the network, so the mistake is definitely on you.

Having said that, for people who earn in Bitcoin for rendering one skill or service, then it's understandable if they have to convert their BTC to fiat regularly when they have needs in RL to settle, but if you earn all in fiat, it's not really wise to immediately convert everything into Bitcoin, only to have to change back to fiat every now and then, it is much better to delimit a percentage to Bitcoin investment and keep the rest in fiat for on the spot and RL spending.

[Lucius]

When you sell, is no longer yours. When you sell your bitcoin for more than you paid, you may be happy about it, but unless you have an investment to make or would like to buy something else, all you have left is... fiat. And fiat finds its way out of pockets very quickly.

If you mean that it is better to have a BTC in a non-custodial wallet than a fiat in a bank or under a mattress, then I would agree with that. For me personally, it definitely makes sense, not only that the value of BTC is constantly increasing, but also in this way I protect myself from inflation. It is also true that fiat is much easier to spend than crypto, which is quite logical considering that it is generally accepted - so if I walk through a mall with $1000 in my pocket I will certainly spend at least a part - but if I have the same amount in crypto, I will hardly find one store that accepts crypto.

I think the key lesson of the whole story is that crypto can teach us how to save, but that doesn't mean that from time to time we can't spend part of our profits to make a better life - in the end, no one will live forever.

[bittraffic]

Sold assets are obviously not yours anymore. You better buy another asset from the fiat you got or else you will have nothing left when you drain your fiat. You better make use of the money to make money out of it.

Life really sucks if someone sold all their BTC to make a business offline like a restaurant and is not successful today because of the pandemic. Not having BTC today is a setback.