Bitcoin in times of danger.

[NicNacCoin]

I had been hoarding some bitcoins for a long time. But today I was forced to sell that bitcoin for family needs. Tried a lot but could not manage the required money. Maybe nearing a bull market I sold my bitcoins. I am having a lot of trouble selling this bitcoin I have built up over the years. I am grateful to this bitcoin forum because if it wasn't for this bitcoin forum today I might not have found a solution to my need.

[1715223508]

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[Zaguru12]

The most important part of bitcoin evolution before even holding is the fact that it is a currency for payment of transactions. It is hard sometimes to want to hold on to something but we usually get stuck with natural/human disasters that we can just ignore. It is not bad that your holdings came to your rescue just when you needed it in fact it is the sole purpose of holding in the first place, not just to make profit but to save it for future use without it losing value.

Theirs is still a long way to go before the halving and the anticipated bull run so you can still save some before then. When next you are holding them bitcoins make sure to now split some of your savings into fiat currency so you don’t run to bitcoin every time you need some funds

[fathafraink]

I had been hoarding some bitcoins for a long time. But today I was forced to sell that bitcoin for family needs. Tried a lot but could not manage the required money. Maybe nearing a bull market I sold my bitcoins. I am having a lot of trouble selling this bitcoin I have built up over the years. I am grateful to this bitcoin forum because if it wasn't for this bitcoin forum today I might not have found a solution to my need.

I really regret that you sold your Bitcoin, even though within 1 year we will have a halving on Bitcoin, to be precise in Q1 or early Q2. If in the future you have Bitcoin again, and don't want to sell it but want to solve your financial problems at that time, we have a board for money lending in this forum ^[1]. You can guarantee your Bitcoin as collateral for lending there, on the one hand you can solve your problem, on the other hand you will not lose the value of your Bitcoin.

[1] https://bitcointalk.org/index.php?board=65.0

[BlackBoss_]

I had been hoarding some bitcoins for a long time. But today I was forced to sell that bitcoin for family needs.

Your story means you use all money you have to invest in Bitcoin. That is bad and forced selling it when you need money for you, your family is your lesson.

In future, you should have money for emergencies for you and your family and don't have to forced sell your bitcoins. It is not big matter if you sell it at profit price but it is matter if you have to forced sell it at loss.

What will you feel if you have to sell it like do a cut loss?

Anyway welcome to Announce your story with Bitcoin, first purchase, sale, business, education ...

[Husires]

Do not feel sad, but rather the happiness that your family got after they got this amount, and remember that money comes and goes and thinking is what makes you rich.
The price is still low and it is unlikely that we will see crazy increases until the end of next year, so you have about a year and a half to be able to collect more money.
learning a new skill and your experience in trading will make you collect that amount in a relatively short time.

[Helena Yu]

I really regret that you sold your Bitcoin, even though within 1 year we will have a halving on Bitcoin, to be precise in Q1 or early Q2. If in the future you have Bitcoin again, and don't want to sell it but want to solve your financial problems at that time, we have a board for money lending in this forum ^[1]. You can guarantee your Bitcoin as collateral for lending there, on the one hand you can solve your problem, on the other hand you will not lose the value of your Bitcoin.

Most people will lend their money to get interest, this make the @OP need to pay the loan with the interest which is high. As you said above Bitcoin bull run might happen on the next year, no one will lend their money for a year since it's too long.

I don't think the @OP should regret to convert his Bitcoin to fiat for his family needs, family needs is more important than money. It seems like you're don't want to spend any money you get, it's better for you to stop eating to save more money to invest more Bitcoin.

[lovesmayfamilis]

OP, why present your story in a tone of regret? Wouldn't it be better for you if you couldn't find a way out of your situation? Rejoice! Bitcoin is not just for storage; you can start over and buy it a little later.
There is a good expression that says you cannot earn all the money. If your spending went on health, loved ones, or something else much more important than Bitcoin, then no one can tell you that you exchanged it in vain.
Above all, no one here should teach you what you should and should not do. This is your life and your money, and you should only listen to yourself. And frankly, you should not report it here by creating a topic about it.

[John Abraham]

I had been hoarding some bitcoins for a long time. But today I was forced to sell that bitcoin for family needs. Tried a lot but could not manage the required money. Maybe nearing a bull market I sold my bitcoins. I am having a lot of trouble selling this bitcoin I have built up over the years. I am grateful to this bitcoin forum because if it wasn't for this bitcoin forum today I might not have found a solution to my need.

The Picture you shared doesn't say you sold your Bitcoin. I can see you sold 363.89 USDT for Your Local Fiat Currency.
Maybe you exchanged your BTC for USDT before you sold them?

I wouldn't suggest anyone invest their savings in Bitcoin. You may need urgent cash for a Family emergency (Just like this). But, The need for money should depend on the level of emergency. If you sold it just because of a festival coming soon and you want to buy something. I wouldn't say it's an emergency. It seems you were holding your coin on Binance, which is not good if you planned to hold it for a long time. Why are you letting someone else control your coins? Hold your coins in a Non Custodial wallet.

I didn't get what the trouble was selling your Bitcoin. Didn't you know where to sell? Did you hear of Binance from this forum? Because you said, you are grateful to this forum because you found a solution because of this forum. IDK what did you mean.

[KiaKia]

You should spend your Bitcoin if it's for your family's sake, this is what any responsible man would do, do not be a mean fella by holding Bitcoin and failing to help your family that needs medical attention or other, remember, it is a risk that we are all alive today, anyone can leave this world at any time, what is the gain of holding Bitcoin till your death bed? None, because we are all holding to either become very rich and retired someday or at least have a better life, providing for your family in need is everything.

[mvdheuvel1983]

Selling the bitcoins you have accumulated over the years even when the market is not ideal to meet a need is the last resort for every bitcoin holder. I can agree with you when you said being a part of the forum has provided access to a wealth of knowledge and insight about the market and in many times as I can count, I have relied on the knowledge acquired here to make informed decisions regarding bitcoin.

[Poker Player]

I had been hoarding some bitcoins for a long time. But today I was forced to sell that bitcoin for family needs.

Your story means you use all money you have to invest in Bitcoin. That is bad and forced selling it when you need money for you, your family is your lesson.

In future, you should have money for emergencies for you and your family and don't have to forced sell your bitcoins. It is not big matter if you sell it at profit price but it is matter if you have to forced sell it at loss.

Well said. Surely the OP has a complicated financial situation, living paycheck to paycheck, and was hoping with $360 invested in bitcoin, he could significantly improve his financial situation. But without starting from a good base, it is difficult. Most likely the peak of the next cycle will be between $100K and $200K. How much would the OP have been able to hold without selling even if he had not been forced as he is now? If $360 is important to him, in beating the ATH, above $70-80K, he would have $1K? Would he hold on, knowing that the price might drop drastically? That's what happens to many, in the end, they are forced to sell on the spur of the moment. To avoid this, you have to start from a good base, but I understand that for some people it is difficult.

[bitbollo]

bitcoin is a digital currency and should be understood and used as such. Isn't an investment and with such lower amount... hell of course no!

as currency it has the (potential) advantage over a FIAT currency of being able to acquire value if stored over the long term (for sure there is no inflation), but this does not mean that it is a mathematical concept or that it was created only for long-term storage.
If no one spent their satoshi, there would be no fees for miners, there would be no incentives to use it etc etc etc...
And at the same time you have to spend part of your earned money to pay for daily expenses, petrol, entertainment, whether they are euro dollars, bitcoins or ... shells! somehow you always have to pay certain outgoings.

Anytime we read speculation about pump of the price, but if you think about it... from conception of the idea few years ago, we have already seen a monster rise, and even this year on 2023 we have around +65% in just 4 months!
This not means we can see the same rise each year

[Bobrox]

I have been in your position have to sell bitcoin assets due urgent needed although have desire for keep holding Bitcoin for longer time exactly moment Bitcoin still lower price. You faced complicated problem and have to sell Bitcoin for your family need but don't worry always have moment next time for reinvesting back in Bitcoin.

Have been long journey with holding Bitcoin more than one year and have to sell it, I think you can start again with Bitcoin from signature campaign payment. You have more active how to get income with bitcoin from side job and re starting for investing again in Bitcoin and hold until price going up.

[NicNacCoin]

The Picture you shared doesn't say you sold your Bitcoin. I can see you sold 363.89 USDT for Your Local Fiat Currency.
Maybe you exchanged your BTC for USDT before you sold them?

I have shared USDT sale images here. Actually in the first state I deposit 0.02 bitcoins. But when I want to sell bitcoin p2p the price was slightly lower compared to USDT. That's why I sell Bitcoin by converting it to USDT. I needed 363.89 USDT. That's why I convert 363.89 USD to equivalent Bitcoin.

I didn't get what the trouble was selling your Bitcoin. Didn't you know where to sell? Did you hear of Binance from this forum? Because you said, you are grateful to this forum because you found a solution because of this forum. IDK what did you mean.

I had no problem selling my bitcoins. I sell USDT by converting Bitcoin to USDT because the price of Bitcoin is slightly lower than USDT. And I am grateful to this forum as I have been able to meet my needs by earning from this forum. If this form was not there, I would have had no way out of my predicament.

[MusaMohamed]

I sell USDT by converting Bitcoin to USDT because the price of Bitcoin is slightly lower than USDT.

Did you mean rate to sell Bitcoin to fiat is lower than sell Bitcoin to USDT then sell USDT to fiat?

And I am grateful to this forum as I have been able to meet my needs by earning from this forum. If this form was not there, I would have had no way out of my predicament.

Like you did not invest in Bitcoin but worked in forum and got bitcoin from your signature campaign. Now you need money and sell your bitcoin earned from signature campaign to have fiat.

I had no problem selling my bitcoins.

If above is your story, you did not spend money to buy bitcoin so I am sure you won't have issue to sell it. Bitcoin rose up too much last three months and you did get profit by holding your bitcoin in signature campaign last months.

[Litzki1990]

You will never regret it. You might have decided to invest in Bitcoin for the long term with some hope. But you may have to sell your investments mid-way due to some family needs.  There is nothing to be upset about. Because you invested then, maybe these investments are useful for your needs today. If you had spent your money without investing at that time, maybe you would not have got these funds for your family's needs today. You are selling your investments for the needs of your family. Hope you will be able to meet the needs of your family with this investment money. Best of luck to you and hope you invest in Bitcoin again and for a long time.

[Nrcewker]

Nothing to regret on bro. You should be happy that Bitcoins helped you when you are in need of emergency money. Emergencies never come in a scheduled time, it happens unexpectedly, so it’s always advised that keep some funds backed up for these type of emergencies. But you didn’t had any and hence you didn’t get any other options rather than selling the coins in comparatively cheaper price. Nevertheless don’t feel sad, bitcoins or way more valuable than the current price, so try to earn more and buy Bitcoins from those. Hold the Bitcoins for a year and see 2 to 3 times of your profits.

[boyptc]

While for sure there will be people that will feel the regret on you and even you, it cannot be hidden. What matters most is you are able to spend and sold that with a very important thing that you have to address.

You do not need to feel bad about selling it even if we all know that bull run is about to come soon. What you need to think of is profit is profit.

It has helped you in emergency need and you will be forever grateful with that and it will become a memory soon that no regrets and you just did the right thing.

[m2017]

Well, if it's sold, it's sold, why worry about it now. Bitcoin served their purpose in this case: it was needed at the moment when it was needed. It turns out that you knowingly saved up and hold btc all this time. At least in your lifetime, bitcoin have been helpful.

Expecting a bullish trend anytime soon seems premature to me and I think you will still have time to accumulate some bitcoin by the start of this. So, don't despair, I think everything is still ahead.

[taufik123]

It doesn't matter if it's the only way to solve your family's financial problems.
I have also experienced what you have experienced.
Selling bitcoin holdings that have long been held for urgent needs.

But here we also have to learn how to do financial management well.
Separating between investments that are used for the long term and personal finances that are used for daily needs.

We are close to the 4th Halving and the current price is still quite cheap.
Maybe you will buy it again when you already have other income that can make your family finances stable.
There are still many ways that you can hold Bitcoin again before the halving and bullishness occur.

There is nothing to regret, family needs come first, and no one will sneer at you for selling your own Bitcoin, it is your right to use it in any way.
Your bitcoins are yours.