How do you feel selling your BTC against your plans?

[_BlackStar]

Most times it is not necessary you must wait for your financial flows though. If you checked I stated it clear that I was expecting a payment which was supposed to have been credited but was still pending I could not wait for it to be credited as the pressure was high to making sure that issues was sorted out immediately.

Have you considered taking out a loan or something like that?
I think lenders will be willing to give you a loan of a certain amount, but you just have to convince them that the conditions are met.

Besides, I don't know how much funding you need and what the goal is. Urgency should be clearly classified, but if it involves the safety of your family or anything that puts their health at risk, then sell your bitcoin to save them. It is the most good option instead of spending time looking for a solution.

[kryptqnick]

I think it's good to have Bitcoin for emergency situations, and it shouldn't matter during an emergency whether the price is good or not. I generally don't like when something doesn't go according to my plan, so I would be upset about selling BTC when I wasn't planning to do that, but not because it's BTC; rather the bigger issue to me would be that an emergency occurred. Bitcoin is volatile, you win some and lose some, and I don't have a problem with that. Also, Bitcoin is money, so it should be used when it's needed, even if its value isn't the best at the moment. I think it's better than taking a loan, which some are asking about.

[Uruhara]

This kind of experience has happened to me too and I think the majority of us have had that too.

Emergencies sometimes come to us unexpectedly. but what makes it difficult for us is because we don't have an emergency fund preparation. so that we are automatically forced to sell assets that we have planned as long-term investments (bitcoins).

This situation must be very heartbreaking for you OP. because I've been in the same position. but I learned from the experience. i.e. since then I have always tried to save a little of my money to be kept in a special savings emergency fund. no need to save a lot of money. little by little. and it worked. a few months ago i had some sort of similar situation that needed funds urgently. and lucky I have an emergency savings fund. so that I no longer need to interfere with my long-term investment.

stay strong and believe me we can always start again.
feels hard. well at first everything was difficult.
but believe me things will get better if you can think more openly and accept what is there.

[Adbitco]

It's normal because one thing about life is that any funds or money you are saving via investment or not investment they are always for emergency and whenever it's time for emergency do not forget to use it immediately to sort out those problems because that was the reason it was saved to lift life from danger, all less it doesn't needs an urgent attention to be taken care of.

Boiling down on how your alert couldn't get to your account at the right, I believe there are p2p service provider if banks aren't releasing your payment you download online bank which I know too well that they swiftly operates without any delay.

As matter of fact, whenever you hold bitcoin at higher price and its happens that the price drop from the previous to the lower price and where you never thought of selling and emergency came up to me it looks like someone they have given a poisonous chemical to inhale, and at that point you couldn't but had no options than to just did because of circumstances at hand. Please just take heart because it something you can't deal away from or possibly when next if an urgency came up why not look for someone around to borrow maybe after sometime and you gets stabilized a bit then you send back to such person.

[indah rezqi]

Now you know why someone would not recommend you keep all your budget in bitcoin even if you are sure about its good potential in the future. Without an emergency budget, you will definitely get in trouble because it will only ruin your investment plans.

You could sell your 20% bitcoin holdings to cover that urgent need, or maybe 50% of it. You have to accept the consequences of losses caused by price volatility because you have no other option but to sell. If it were me, of course I would try to find other solutions such as selling my other investment assets like gold or whatever else is not being used instead of selling bitcoin (especially if your loss is significant).

[NeilLostBitCoin]

Many financial freedom promoters say on social media, "Keep at least 3-6 months of living expenses for emergency funds." Truthfully, I don't think 3-6 months of living expenses is enough for emergency funds, so at least allocate more than six months. Why more than? It's better to have extra funds compared to lesser funds. The lesson we can learn from our past situation is not to designate all of our money to bitcoin or any investment.

Initially, I thought earning in crypto-currency was always there, so I would invest all my money. Then the bearish market begins. I feel depressed every time I go to the app called "Blockfolio." This is the application I use to monitor my holdings. And then, one of our family needed the money for the hospitalization, so there was no choice back then since all of my funds were in crypto, so I traded most of my holdings at a lower price.

[famososMuertos]

^{OP:Arrange the paragraphs offers a better reading.}

There is no difference, none, Please! it is basically the same thing, managing daily responsibilities, these types of questions seem to come from people who have never managed a budget, income.

An investment never has those kinds of priorities, NO!.  that is, emergency.

An investment is a purchase contingent on waiting for a return, if it didn't happen, so, It doesn't matter, but if you start to "cry". Then meant is took money that I shouldn't have to investiment, it's that simple.

You learn from situations like it, just try again, bitcoin is always there for new investment.

[o48o]

-cut-
If you have had such experience, how was it like?

I had many such experiences. I am just happy that i had cryptos as buffer money to deal with that emergencies. Even if i had to sell them with low price.
Few times i felt miserable that i had to sell like third of my portfolio right after a flash crash. But i've learned that i can rise again and again from having just $200 in my pocket and investing that into some small caps. It just takes some luck and dedication. Not giving up is the key here. If you give up, there's zero change you make it.

[qwertyup23]

trust me mate , you will regret that all your life as once I did this because of some personal matter that needs to be funded and that is totally against my will but have no choice back then.

if you can find way to fund your obligation to not sell your coins? better find it everything mate because this is what i did not those days.

But happy that now i am back on track and gathering my Bitcoin .

I am actually guilty of this currently- majority of my BTCs that I receive from my campaign are going towards my personal expenditure. Technically, I feel somehow numb about this but as soon as I remember the time when I first started (1 BTC = $4,000-$5,000), I realized that the potential of BTC increasing its price is soon.

To be honest, I just want to break this cycle of converting my personal BTCs to my local currency as soon as I receive it. I just want to stop and HODL my BTCs for future use so that I could maximize their value in the long-run.

[BenCodie]

If everyone could hold onto their coins without having to liquidate them into fiat, I believe they would! Shame on those who did not have to but still did anyway (their loss though )

trust me mate , you will regret that all your life as once I did this because of some personal matter that needs to be funded and that is totally against my will but have no choice back then.

if you can find way to fund your obligation to not sell your coins? better find it everything mate because this is what i did not those days.

But happy that now i am back on track and gathering my Bitcoin .

I am actually guilty of this currently- majority of my BTCs that I receive from my campaign are going towards my personal expenditure. Technically, I feel somehow numb about this but as soon as I remember the time when I first started (1 BTC = $4,000-$5,000), I realized that the potential of BTC increasing its price is soon.

To be honest, I just want to break this cycle of converting my personal BTCs to my local currency as soon as I receive it. I just want to stop and HODL my BTCs for future use so that I could maximize their value in the long-run.

If you don't have to, then don't! Find something offline that will keep your personal life afloat so that you can stack the sats you earn offline. If the spending is leisure/recreational, think of how much more leisure/recreation that you could enjoy if you held instead of selling, and had 5-20x more value in a year or two.

[Woodie]

How do you feel selling your BTC against your plans?

If your hands are tied and you do not have another source of funds that can help you sort out whatever pressing issues you have at hand...then sell those coins you don't owe anybody any explanation why you are doing so, besides you can always get back at the same position as you left by buying new coins at a later date!

There is no difference, none, Please! it is basically the same thing, managing daily responsibilities, these types of questions seem to come from people who have never managed a budget, income.

This just gave me an idea, maybe some budget lessons need to be put somewhere around the forum to put these questions to  bed

An investment never has those kinds of priorities, NO!.  that is, emergency.

My thoughts exactly, if an emergency comes you act on it immediately and the best way to not be caught unaware is to have some kind of emergency funds stored somewhere or use your insurance or overdraft facility with your bank.

An investment is a purchase contingent on waiting for a return, if it didn't happen, so, It doesn't matter, but if you start to "cry". Then meant is took money that I shouldn't have to investiment, it's that simple.

You learn from situations like it, just try again, bitcoin is always there for new investment.

I think people think bitcoin is a one get rich quick scheme and people want to put in money today,and tomorrow are ready to withdraw a hundredfold, this is an investment we need to treat it as such and accept retains could take some time before maturing.

[Macadonian]

I am actually guilty of this currently- majority of my BTCs that I receive from my campaign are going towards my personal expenditure. Technically, I feel somehow numb about this but as soon as I remember the time when I first started (1 BTC = $4,000-$5,000), I realized that the potential of BTC increasing its price is soon.

To be honest, I just want to break this cycle of converting my personal BTCs to my local currency as soon as I receive it. I just want to stop and HODL my BTCs for future use so that I could maximize their value in the long-run.

Find a job that pays in fiat that you can use for your bills and other things you are currently using your Bitcoin for and then use Bitcoin as a saving. If you tried saving fiat it does not have the potential to go up in the future but Bitcoin does have the potential to go up. It might be risky but I think if you want to escape the cycle you will need to take some risks.

[topbitcoin]

If you have had such experience, how was it like?

We should be more grateful with what we get. I mean, a lot of people maybe had that experience especially when we know at range 2014-2017 itself bitcoin price climbed a lot. Some of them must be already sold their coins, or maybe already used their coins for something that really in urgent condition and it happened to me. If i can i will hold coins that i earned, but i have no choice beside sell my coins when something urgent happen.

[peter0425]

If you have had such experience, how was it like?

We should be more grateful with what we get. I mean, a lot of people maybe had that experience especially when we know at range 2014-2017 itself bitcoin price climbed a lot. Some of them must be already sold their coins, or maybe already used their coins for something that really in urgent condition and it happened to me. If i can i will hold coins that i earned, but i have no choice beside sell my coins when something urgent happen.

The question is about selling against your plan or will but you are mentioning about those who sell with their decision and plans that is far different from what you are telling.
though you admit about will sell if there is no choice yet that is your opinion and decision and still not have experienced that situation while many of us have already.

[wxa7115]

A thought came over me while spending my BTC. Although I was wondering if members have had that experience and  too  how others would feel about it hence this topic. Now here was what happened. I had an emergency which requires an urgent attention and it involves funds. I had no option than  to get the funds immediately as the payment I was expecting has no yet been credited to my account I had no option at that moment than to fall back to my bitcoin and what touched me most was that the market was red and It was obvious I had to sell to sort out the urgency at hand. While doing that, there was this feelings I had then as a result of the red market as at the time I was doing the transaction . I was just having that thought over me then and wishing the market could just boom immediately so I could only release just a small fraction of my BTC to sort out things then and another was that I could just receive my much awaited alert so I could stop the BTC transaction immediately. You know that feelings that comes when you want to do something you really do not have plans doing immediately maybe you have plans for it in the future and all of a suden an emergency comes up which would force you to do the needful. I had that feelings and it was real and really devastating at that very moment.
If you have had such experience, how was it like?

What you are experiencing is quite common, but instead of being sad about it you should be glad that you had enough bitcoin on hand to help you solve your problem, there are many users which for some reason or another found themselves with the need of starting their journey all over again with almost no bitcoin to their names.

But since they had a way better idea of what to do and what not to do compared to their newbie days they increased the speed of their accumulation, and now many of them have more bitcoin now than the bitcoin they had back then, and there is no reason to believe the same could not happen to you as you have a lot of time before the next halving takes place.

[MiF]

A thought came over me while spending my BTC. Although I was wondering if members have had that experience and  too  how others would feel about it hence this topic. Now here was what happened. I had an emergency which requires an urgent attention and it involves funds. I had no option than  to get the funds immediately as the payment I was expecting has no yet been credited to my account I had no option at that moment than to fall back to my bitcoin and what touched me most was that the market was red and It was obvious I had to sell to sort out the urgency at hand. While doing that, there was this feelings I had then as a result of the red market as at the time I was doing the transaction . I was just having that thought over me then and wishing the market could just boom immediately so I could only release just a small fraction of my BTC to sort out things then and another was that I could just receive my much awaited alert so I could stop the BTC transaction immediately. You know that feelings that comes when you want to do something you really do not have plans doing immediately maybe you have plans for it in the future and all of a suden an emergency comes up which would force you to do the needful. I had that feelings and it was real and really devastating at that very moment.
If you have had such experience, how was it like?

I think you are not the only one who already feel that way, many people here do the same thing when it comes to emergency reason, specially when we experienced a life and death situation and it needs a urgent funds to save life then the best choice is selling bitcoin, because we can still get bitcoin if we can get  funds in the near future while we cannot get life if we loss it. So for me the best choice is to sell btc for good.

[borovichok]

We should be more grateful with what we get. I mean, a lot of people maybe had that experience especially when we know at range 2014-2017 itself bitcoin price climbed a lot. Some of them must be already sold their coins, or maybe already used their coins for something that really in urgent condition and it happened to me. If i can i will hold coins that i earned, but i have no choice beside sell my coins when something urgent happen.

Bagging Bitcoin in the early years, before it was widely explored, was supposed to have resulted in tremendous profits since then, however due to the yearly dump season, I sold my Bitcoin long ago. One may sell if they feel the bear season is about to arrive or they don't want to lose the earnings they have already made from their trading position. It's a dreadful time since the bear market tends to derail any preparations that had been made for the day. Trading in a bear market requires good timing since a trader cannot afford to run up their account to the point of liquidation. Contrary to my expectations, exercising the sell option for the Bitcoin in my portfolio stimulates more chance to bagged more.

[Uruhara]

I think you are not the only one who already feel that way, many people here do the same thing when it comes to emergency reason, specially when we experienced a life and death situation and it needs a urgent funds to save life then the best choice is selling bitcoin, because we can still get bitcoin if we can get  funds in the near future while we cannot get life if we loss it. So for me the best choice is to sell btc for good.

In an emergency, we really can't do much other than use the fastest funds we can get. one of them is selling bitcoins. even though this would be really sad. but you are right we can still buy bitcoins again at another time. and restart the accumulation bit by bit. because meeting urgent needs must be prioritized.

but we have to learn afterwards. that is, we must learn to set up an emergency fund from now on. so that we are always ready if there is an urgent situation that comes

[CryptSafe]

trust me mate , you will regret that all your life as once I did this because of some personal matter that needs to be funded and that is totally against my will but have no choice back then.
if you can find way to fund your obligation to not sell your coins? better find it everything mate because this is what i did not those days.
But happy that now i am back on track and gathering my Bitcoin .

Hey mate I see no reason why I should regret for using my bitcoin which I  can sort out things myself and replace it immediately. If you read my post well I stated it clear that I had a pending credit alert which I was waiting for but yet to be credited so I had to use my bitcoin to trade for the urgent attention. Upon receiving the credit, I replaced my bitcoin that I had traded earlier. So I was not in any way at loss. Loan was not my option at any moment in time because I do not go for it. I had other investment but to begin the process of getting cash or funds out takes procedures so the easiest I could get hold of at my disposal at that very moment was my digital asset mind you I could replace it at any moment in time so I had to do the needful because that was the easiest means and it helped and was of good service.

[Minecache]

trust me mate , you will regret that all your life as once I did this because of some personal matter that needs to be funded and that is totally against my will but have no choice back then.
if you can find way to fund your obligation to not sell your coins? better find it everything mate because this is what i did not those days.
But happy that now i am back on track and gathering my Bitcoin .

Hey mate I see no reason why I should regret for using my bitcoin which I  can sort out things myself and replace it immediately. If you read my post well I stated it clear that I had a pending credit alert which I was waiting for but yet to be credited so I had to use my bitcoin to trade for the urgent attention. Upon receiving the credit, I replaced my bitcoin that I had traded earlier. So I was not in any way at loss. Loan was not my option at any moment in time because I do not go for it. I had other investment but to begin the process of getting cash or funds out takes procedures so the easiest I could get hold of at my disposal at that very moment was my digital asset mind you I could replace it at any moment in time so I had to do the needful because that was the easiest means and it helped and was of good service.

Even if you have to sell bitcoin at a loss, you shouldn't regret it if the emergency involves something important like an accident or endangers the life of you or your loved one. Don't forget our goal when investing in bitcoin is to help us have a better life, not to see it as a religion to worship and never use. If I could just hold bitcoins to death, bitcoins would be the most useless asset I have ever held, bitcoins only give value when we use them. It's sad if someone considers bitcoin more important than their own life or loved ones.