Bad economic situation makes bitcoins more difficult to keep.

[nurilham]

Difficult economic conditions certainly have a direct impact on investment performance including bitcoin, when economic conditions are difficult then people will choose a more profitable type of investment even with a small profit margin, government bonds and stocks are usually preferred over other types of investment and risky cryptocurrencies high is of course an alternative.

Of course, it must impact on the investment aspect because people suffer financial problem. When people in a financial problem, they won't have a chance to invest in Bitcoin. Even in a certain condition, Bitcoin holder may spend their Bitcoin to convert to fiats because they need it for basic necessities or urgent needs. To be honest, I'm experiencing this as well, it make me difficult to collect more Bitcoin and maintain my existing Bitcoin.

Regarding bonds and stocks of government, it may be a possible alternative for certain people. But it is not a familiar thing for the common people, I rarely saw people choose government bonds and stocks here. When they are in a financial problem, most people prefer looking for more jobs. They will get additional jobs that can instantly get money. For example, they will choose a part-time work in a shop or they sell daily necessities.

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[blockman]

Difficult economic conditions certainly have a direct impact on investment performance including bitcoin, when economic conditions are difficult then people will choose a more profitable type of investment even with a small profit margin, government bonds and stocks are usually preferred over other types of investment and risky cryptocurrencies high is of course an alternative.

It's not about that, but it's about your endurance during these economic collapses. And the way you handle your finances and investments will surely be impacted like if you've got no other source anymore, that's the time that you have to sell it no matter how hard you wanna hold it for the long term. The more assets and investments you have is better but you just can't hold them forever especially when your finance is badly affected by this type of condition, you have to sell and that's what makes it hard to keep the btc's your are holding.

[dothebeats]

Difficult economic conditions certainly have a direct impact on investment performance including bitcoin, when economic conditions are difficult then people will choose a more profitable type of investment even with a small profit margin, government bonds and stocks are usually preferred over other types of investment and risky cryptocurrencies high is of course an alternative.

It's not about that, but it's about your endurance during these economic collapses. And the way you handle your finances and investments will surely be impacted like if you've got no other source anymore, that's the time that you have to sell it no matter how hard you wanna hold it for the long term. The more assets and investments you have is better but you just can't hold them forever especially when your finance is badly affected by this type of condition, you have to sell and that's what makes it hard to keep the btc's your are holding.

You have a point here. No matter how bad and difficult economic conditions can go if an individual can still endure not selling and depending on their other financial sources then there is no problem and the economic standing wouldn't matter much. However, if BTC is your only financial source and you badly need the money then you will have no choice but to sell it. It is that simple.

[YUriy1991]

Difficult economic conditions certainly have a direct impact on investment performance including bitcoin, when economic conditions are difficult then people will choose a more profitable type of investment even with a small profit margin, government bonds and stocks are usually preferred over other types of investment and risky cryptocurrencies high is of course an alternative.

It's not about that, but it's about your endurance during these economic collapses. And the way you handle your finances and investments will surely be impacted like if you've got no other source anymore, that's the time that you have to sell it no matter how hard you wanna hold it for the long term. The more assets and investments you have is better but you just can't hold them forever especially when your finance is badly affected by this type of condition, you have to sell and that's what makes it hard to keep the btc's your are holding.

You have a point here. No matter how bad and difficult economic conditions can go if an individual can still endure not selling and depending on their other financial sources then there is no problem and the economic standing wouldn't matter much. However, if BTC is your only financial source and you badly need the money then you will have no choice but to sell it. It is that simple.

Exactly and that normal. this is where we need to separate personal finances from business, meaning that before these conditions come in and force us to do this, we must all be prepared, for example, create 2 investment accounts and a trading account, or simply say, separating personal savings from business savings will be easier in making the bookkeeping of the business clearer and more structured. By separating it, it will minimize the risk of liability if business income is used for personal purposes. So, we can more easily find out whether personal and business financial conditions are stable or not.

[Outhue]

Cut your clothes according to your size.

Bitcoin investment is not a must do or die.

Having a real life job makes things easier for your long-term hold plan.

Today's problem can be big in the eye, but tomorrow remains a mystery, and that's why we need to be prepared, not for today, but tomorrow, things always get more harder as time fly by, and investing in Bitcoin will only make your future better compare to someone who doesn't invest anything.

You don't have to use all you have to invest, a 1000$ invested on Twitter stock years ago is just 3000$+ today, it's still something if you have other things going on in your life, but invest that 1000$ in Bitcoin would have given you a better return of your investment even today.

[blockman]

It's not about that, but it's about your endurance during these economic collapses. And the way you handle your finances and investments will surely be impacted like if you've got no other source anymore, that's the time that you have to sell it no matter how hard you wanna hold it for the long term. The more assets and investments you have is better but you just can't hold them forever especially when your finance is badly affected by this type of condition, you have to sell and that's what makes it hard to keep the btc's your are holding.

You have a point here. No matter how bad and difficult economic conditions can go if an individual can still endure not selling and depending on their other financial sources then there is no problem and the economic standing wouldn't matter much. However, if BTC is your only financial source and you badly need the money then you will have no choice but to sell it. It is that simple.

That's right if you are solely relying your asset mainly on Bitcoin and you can't withstand the economic status of your country and yourself and you have to sell then you have no choice at all. It is the reason why having as many sources of income as much as you can is the best thing that an individual has. You'll be able to hold as long as you can for your Bitcoin assets and then sustain it with the other financial instruments that you've got. For someone who's not experienced and doesn't have the means, it's hard but you need to wise up and build your foundations on it so that in the future you'll get a lot of help from those foundations for the assets that you're building.

[Mame89]

I guess it depends.

If you're discipline enough, I believe being short when it comes to money is preventable, because you have extras on your bank or maybe in your vault. I assume your friend must put most of his funds to bitcoin that is why he is now being frustrated on how he's going to pay the bills, etc. or maybe his salary isn't that high to sustain his needs and responsibilities as an adult.

That's why it's important to have more source of income to avoid selling your bitcoin in a price that you're going to regret it.

I agree with you, people really invest in bitcoin, they have to learn and read a lot, don't just go along with it. If you are serious about learning you will understand the importance of discipline, because bitcoin is awesome. This is what I always hold in investing in bitcoin. Indeed, as you said when holding bitcoin and we are pressed by the need to be forced to sell bitcoin, even though the intention was to invest in bitcoin for the long term.

Therefore we need to know in advance that in investing in bitcoin we must have some income so that our investment assets are not disrupted even though the economy is bad. That's why many seniors say here that investing uses free money, under any circumstances we still have cash reserves so that investment assets are not disturbed.

[armanda90]

Cut your clothes according to your size.

Bitcoin investment is not a must do or die.

Having a real life job makes things easier for your long-term hold plan.

You right, when having real life job make us easily with long term planning when investing in Bitcoin or spent our money for investing in stock, we need spent investment to several placed although cryptocurrency most promising with better return one day later but not fault with try on other kinds of investment. Although tomorrow still mystery we need good plan for preparing what have to do for tomorrow and investing as much possible when having money is better way.

Therefore we need to know in advance that in investing in bitcoin we must have some income so that our investment assets are not disrupted even though the economy is bad. That's why many seniors say here that investing uses free money, under any circumstances we still have cash reserves so that investment assets are not disturbed.

Its important thing when having with real life job we can invest in bitcoin as much possible, since price still not promising yet Bitcoin investment will be our assets in the future actually three or four year later when Bitcoin break out to higher price.

[Spaceman1000$]

I was having a conversation with a friend, and we talked about how difficult the economy is and how it can disrupt someone's plan to hold their bitcoins without tampering with it. I think this is true because if you think of how difficult things are getting, Salaries from jobs no longer sufficient to sort all needs, and profit from business seriously affected and made intangible because of the increasing cost of running a business and the rising cost of things.

Holding your bitcoins has a lot to do with discipline truly, but discipline is harder to practice when you are being suffocated and suffering financially with plenty bills and responsibility to respond to. People in countries with better economy, where there are good jobs and businesses are working, Bitcoins will easier hold than for people who are in places with terrible economic situation. What do you think?

It is was always advisable you invest with your residual income, so that it won't affect your finances. Nobody invest with his/her entire savings or money. Hence you begin to invest your entire income, you will find it extremely difficult to survive your day to day expenses.
So next time, while investing, please put an amount that you can easily look away even if you're going through some sort of hard time, hard times don't last, it's just a period of time but don't go touching your investment.

[serjent05]

Cut your clothes according to your size.

Bitcoin investment is not a must do or die.

Having a real life job makes things easier for your long-term hold plan.

True that, we must adjust accordingly.  If  we are lacking in funds, we can look for an additional source of funds to meet our needs.  if we have plentiful enough, we can then set aside the extra for investment.  We must not force ourselves into investment when our income is just enough for our basic needs.  Forcing savings or investments when we hardly meet our basic needs will only affect us in negative ways and often end up in a mess.

So in a time of draught(difficult situation), the best move is to look for the source of water(source of income), planting more trees(investment) in draught can only make us lose all the effort and money since the draught cause the plant to wither prematurely(forced selling of investment at a lost due to the need of funds).

[Yatsan]

I was having a conversation with a friend, and we talked about how difficult the economy is and how it can disrupt someone's plan to hold their bitcoins without tampering with it. I think this is true because if you think of how difficult things are getting, Salaries from jobs no longer sufficient to sort all needs, and profit from business seriously affected and made intangible because of the increasing cost of running a business and the rising cost of things.

Holding your bitcoins has a lot to do with discipline truly, but discipline is harder to practice when you are being suffocated and suffering financially with plenty bills and responsibility to respond to. People in countries with better economy, where there are good jobs and businesses are working, Bitcoins will easier hold than for people who are in places with terrible economic situation. What do you think?

It is was always advisable you invest with your residual income, so that it won't affect your finances. Nobody invest with his/her entire savings or money. Hence you begin to invest your entire income, you will find it extremely difficult to survive your day to day expenses.
So next time, while investing, please put an amount that you can easily look away even if you're going through some sort of hard time, hard times don't last, it's just a period of time but don't go touching your investment.

Unfortunately, there are people who does invest all of their money because of greed and frustration. Problem starts with your mindset upon entering any investment. Ofcourse assuming for profit would be a good thing to instill but always consider factors and circumstances. Profit won't come in an instant therefore you should assure you would be able to 'hold into it' for as much time or months needed to come up with profit as your goal. Especially in this industry wherein market price volatility is an obvious thing therefore therew will always be unpredictable price movements which could cost you a lot if you'd panic and choose to cut losses.

[macson]

That is definitely true and I think it stands for any investment. Since I am from a country which has a poor economy and isn't stable, it's always a thought to pull out/sell my investments to help me out with the situation. Fortunately, I am patient and I've never dipped because of some emergency and I never actually had to. But some people just can't meet ends with their salary so they sell even if they wanted to hold for a profit.

It would be ideal if everyone could invest and hold, but you can't really bet against the economic situation you are in.

i understand what you are feeling friends, difficult economic pressures really make it difficult for us as bitcoin investors to keep holding on, especially if you can't get another job out there then selling the bitcoin you have is your only hope for survival.

but you must be able to learn independently while in bitcoin, you can use the skills you have to sell works of art ^{(for example)} or what services can you offer for a fee in cryptocurrency or bitcoin.

if indeed you don't have the expertise that you can use to make money independently ^{(by not selling the bitcoin that you have)} then you should be able to take part in online classes that often appear on the internet, and try to get additional income from the internet through the skills you learn from the online class.

[Aanuoluwatofunmi]

If you're a bitcoiner and still having the mentality of the fiat and local economy in mind then you're wrong, bitcoin shouldn't be seen or treated the same way we approach other systems because it's an entirely different network, if we want to hold bitcoin, we should then focus on the prospect in making an investment in it rather than looking around the market challenges with the present fiat economy and system, inflation could be one of the most distracting factors which may want to hinder our investment because we may feels things aren't balanced enough for us to have the rendered opportunity for bitcoin investment.

[Rengga Jati]

Holding your bitcoins has a lot to do with discipline truly, but discipline is harder to practice when you are being suffocated and suffering financially with plenty bills and responsibility to respond to. People in countries with better economy, where there are good jobs and businesses are working, Bitcoins will easier hold than for people who are in places with terrible economic situation. What do you think?

This is a different condition, maybe everyone has experienced it, when they are really in an urgent and important situation, they need cash, while they only have Bitcoin. When they have no more chances to get money as soon as possible and it is impossible to take a loan, one the only way possible is by selling Bitcoin assets.

Maybe for some people, this decision is very unfortunate, especially since this is a bearish period. but for some people, this is the best of the worst decisions, Bitcoin may be searched again, but something urgent may be more important and there are no more chances. I personally have done it several times, selling some Bitcoins for important and urgent needs, when I needed a large amount of money for some important and urgent expenses, and I personally will never regret that decision. What is certain is, we are selling it not just for spree- spree or mere panic arena, but indeed because of compulsion and there is no other way. And believe that with a few more efforts to the dean, we will be able to collect Bitcoin again little by little. Precisely with this, the value of Bitcoin is more valuable to me.

[yohananaomi]

Difficult economic conditions certainly have a direct impact on investment performance including bitcoin, when economic conditions are difficult then people will choose a more profitable type of investment even with a small profit margin, government bonds and stocks are usually preferred over other types of investment and risky cryptocurrencies high is of course an alternative.

cannot escape the fact that in this difficult economic situation as it is today, everyone has refrained from using their money in the form of investment. even if you force yourself, then as you said, they will look for investments that are definitely safe and are usually connected to the government, even though the profits are not big, but there is certainty and there is a guarantee.
but I prefer if there are more funds to invest in crypto which does have potential such as bitcoin, ethereum, bnb. it only takes time and a lot of patience and don't panic quickly, remember investing in crypto is a long term investment.

[Majestic-milf]

If you're a bitcoiner and still having the mentality of the fiat and local economy in mind then you're wrong, bitcoin shouldn't be seen or treated the same way we approach other systems because it's an entirely different network, if we want to hold bitcoin, we should then focus on the prospect in making an investment in it rather than looking around the market challenges with the present fiat economy and system, inflation could be one of the most distracting factors which may want to hinder our investment because we may feels things aren't balanced enough for us to have the rendered opportunity for bitcoin investment.

I quite agree with you on this. Bitcoin investment and hodling is all about sacrifice. Yeah, the economic crunch makes saving a bit difficult but then, it's just like stowing money away in your piggy stash that has been mapped out for something bigger.
 I think hodling was never meant to be easy that's why the term 'holding on for dear life'(hodl) was originally formed, right?
Central banks and the government are debasing the local currencies around the world and the average bitcoiners wants the assurance that even if inflation rises and devalues the traditional fiat, their investment in Bitcoin remains untouched and secure.

[lienfaye]

Holding your bitcoins has a lot to do with discipline truly, but discipline is harder to practice when you are being suffocated and suffering financially with plenty bills and responsibility to respond to. People in countries with better economy, where there are good jobs and businesses are working, Bitcoins will easier hold than for people who are in places with terrible economic situation. What do you think?

This is really true. It's not easy to hold Bitcoin if your income is not enough to cover your overall expenses (food, bills etc.) Bad economy can affect the people especially the minimum wage earner. Therefore if your salary is not sufficient, it's likely that you will sell your Bitcoin because that's what you count on in times you're in need.

But this can be prevented if you're not complacent to only rely on your salary from your day job. Start to look for opportunities to maximize your source to earn. So that you can still invest a portion of your income, able to hold for long and not be tempted to sell due to lack of money.

[dothebeats]

Difficult economic conditions certainly have a direct impact on investment performance including bitcoin, when economic conditions are difficult then people will choose a more profitable type of investment even with a small profit margin, government bonds and stocks are usually preferred over other types of investment and risky cryptocurrencies high is of course an alternative.

cannot escape the fact that in this difficult economic situation as it is today, everyone has refrained from using their money in the form of investment. even if you force yourself, then as you said, they will look for investments that are definitely safe and are usually connected to the government, even though the profits are not big, but there is certainty and there is a guarantee.
but I prefer if there are more funds to invest in crypto which does have potential such as bitcoin, ethereum, bnb. it only takes time and a lot of patience and don't panic quickly, remember investing in crypto is a long term investment.

As generally many investments do. It takes time and patience, general hard work, and knowledge for an individual to maintain good investment and actually see profit from it. I believe the investment in crypto should be among the last options to use in case financial problems keep rising and the need for money gets so unbearable that normal financial sources cannot cope.

[uswa56]

As generally many investments do. It takes time and patience, general hard work, and knowledge for an individual to maintain good investment and actually see profit from it. I believe the investment in crypto should be among the last options to use in case financial problems keep rising and the need for money gets so unbearable that normal financial sources cannot cope.

In any investment when the economic situation is difficult, there is no investment that can be maintained, regardless of future possibilities, knowledge and patience, but the basic needs in life must still be fulfilled.
So we have to be able to find a way out, for investment to continue and the economic situation to remain stable, those are two things that must be in sync, otherwise the two cannot work.

I quite agree with you on this. Bitcoin investment and hodling is all about sacrifice. Yeah, the economic crunch makes saving a bit difficult but then, it's just like stowing money away in your piggy stash that has been mapped out for something bigger.
 I think hodling was never meant to be easy that's why the term 'holding on for dear life'(hodl) was originally formed, right?
Central banks and the government are debasing the local currencies around the world and the average bitcoiners wants the assurance that even if inflation rises and devalues the traditional fiat, their investment in Bitcoin remains untouched and secure.

It all goes back to our economic situation in life, if we can't manage the economic situation in life, of course it will be difficult for us to implement this, Bitcoin hodling is indeed good and has pretty bright prospects in the future, but that doesn't necessarily improve or maintaining our economic situation and it must be remembered that no one can run away from risk, Bitcoin can go down at any time, and resiony

[mirakal]

When your income isn’t enough for your monthly expenses, you either borrow money or sell your assets. Otherwise you will either lose your water/electricity or get kicked out from your home or starve to death… Since dying isn’t an option, you will probably go to the banks and borrow money… till you can’t anymore. Then you eat up your savings. In the end these are temporary solutions that will buy you some time till you figure out something to fix the problem. You have 2 options here. You should reduce your expenses or increase your income. Otherwise it won’t end well.

Worst scenario is that when you suddenly lose your job and you still have bills and loans to pay, so you end up losing all the chances to keep your bitcoins longer but have no choice than to sell them even at a bearish market. This is why we don’t have to rely in one source of income no matter how stable it is. It’s still best to increase our side hustles because once you have 2 or 3 more sources of income, no matter how bad the economy is, I guess your finances will never be much triggered.