Bad economic situation makes bitcoins more difficult to keep.

[Dickiy]

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.

Well what you said makes a lot of sense, this is a natural problem that can happen to everyone, especially those who are struggling to hold Bitcoin, but beyond this what can we do? in conditions like this there is really no other way or other options that can be chosen except to sell it even though you really want to hold it, and if there is great potential that tells you to hold Bitcoin again then I don't think you will choose that path. Would you let your stomach starve by continuing to hold Bitcoin for a longer period of time? I don't think so, everyone thinks that their life is more important than anything else, and you would definitely choose to sell some or all of the Bitcoin you have to solve bad economic problems. So, whatever you have, you have no choice but to use it to survive.
You said the right solution, finding an extra job is better.

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

Well that's right, I agree and there really is no other choice but to utilize whatever we have at that time. Even though for example we have managed the economy in any way we can such as saving costs for example, there will still be times when something unpredictable happens to us someday, such as for example your business going bankrupt and leaving a lot of debt. Using cold money or money that is tried not to be used by some needs to then be used to buy more Bitcoin, you use cold money with the aim of being able to hold it longer, but still if you find conditions like this there is no other choice that can be chosen except to sell it. Holding Bitcoin is great but you also have to think about your life.

[jaberwock]

At the end of the day, it is your bitcoin, it is your property and it should be your decision how you will handle it. If you feel and think that your coins should stay where they are now is the best way to do then go ahead, no one knows your financial capacity and state more than you do. And I agree with you, Bitcoin and the system is a slow and steady process, we all want to make a profit off it after all.

"We all want to make a profit" But the problem is that not all can HODL long enough to make it happen but these people can try trading instead or short-term investing by starting to buy at the dip. If we badly need a money but we are still at a loss if ever we will sell our Bitcoin's, it's better to think of other ways first to have a money.

Maybe we can sell the item that we rarely use? Or we can also take a loan? But if only we learn how to budget and save up and maybe add another lite job to earn an extra income, we won't end up like that. We should not put the blame on the bad economy or on how our government runs it. The problem is only us.

[Gozie51]

"We all want to make a profit" But the problem is that not all can HODL long enough to make it happen but these people can try trading instead or short-term investing by starting to buy at the dip. If we badly need a money but we are still at a loss if ever we will sell our Bitcoin's, it's better to think of other ways first to have a money.

Thinking of other thing to do is not about trading your bitcoin because that is a very risky thing to do. Trading is not to be advised because it is difficult and you can lose all your coins. It is better with hodling it or you sell it if that is the only asset you have to safe yourself from financial challenge.

Maybe we can sell the item that we rarely use? Or we can also take a loan? But if only we learn how to budget and save up and maybe add another lite job to earn an extra income, we won't end up like that. We should not put the blame on the bad economy or on how our government runs it. The problem is only us.

The problem is not on the people but bad government. If government provide good economic incentives to do business then people will be glad to struggle in business. Incentives like soft loan or interest free loan with very low repayment percentage then businesses will fluorish. If government policies reduce taxing on small business (SME) and encourage farming by supplying fertilizers, crops the economy will improve because it will add to the GDP.

[AnonBitCoiner]

"We all want to make a profit" But the problem is that not all can HODL long enough to make it happen but these people can try trading instead or short-term investing by starting to buy at the dip. If we badly need a money but we are still at a loss if ever we will sell our Bitcoin's, it's better to think of other ways first to have a money.

Maybe we can sell the item that we rarely use? Or we can also take a loan? But if only we learn how to budget and save up and maybe add another lite job to earn an extra income, we won't end up like that. We should not put the blame on the bad economy or on how our government runs it. The problem is only us.

People think that  managing a whole country system is easy and they want a steady positive economics status but this is just our thinking and if we itself given a chance to handle economics system then we will realize that it's not quite easy as we think. economics state of each country is different and if our country facing economics crisis then we should build our country instead of blaming government.

Bitcoin is worthy to hold for long term but if we have no other ways to fulfill our need then we shouldn't hesitate to sell because living happy life is our first priority. There will be many situations in this world that we will have to sacrifice our precious things. In these ten years i remembered many times that one coin I bought to hold for 5 years at least sold out in 2 years because of bad situation and when everything become normal I got these coins again.

[slapper]

"We all want to make a profit" But the problem is that not all can HODL long enough to make it happen but these people can try trading instead or short-term investing by starting to buy at the dip. If we badly need a money but we are still at a loss if ever we will sell our Bitcoin's, it's better to think of other ways first to have a money.

Maybe we can sell the item that we rarely use? Or we can also take a loan? But if only we learn how to budget and save up and maybe add another lite job to earn an extra income, we won't end up like that. We should not put the blame on the bad economy or on how our government runs it. The problem is only us.

People think that  managing a whole country system is easy and they want a steady positive economics status but this is just our thinking and if we itself given a chance to handle economics system then we will realize that it's not quite easy as we think. economics state of each country is different and if our country facing economics crisis then we should build our country instead of blaming government.

Bitcoin is worthy to hold for long term but if we have no other ways to fulfill our need then we shouldn't hesitate to sell because living happy life is our first priority. There will be many situations in this world that we will have to sacrifice our precious things. In these ten years i remembered many times that one coin I bought to hold for 5 years at least sold out in 2 years because of bad situation and when everything become normal I got these coins again.

Countries are comparable to enormous corporations, in which each citizen is a shareholder. What is your position on citizens contributing rather than simply complaining? Good thinking, right there. Nobody could have said it better

When discussing Bitcoin, we are discussing the future. Life, pleasure, comes first always. If selling that valuable Bitcoin will get you out of an impasse, you should do so. I've witnessed so many people who bought low and sold high, but wonder what? They are still available for negotiation. Because existence consists of one extraordinary event after another

You're selling and purchasing again? Its okay. But remember, next time, perhaps, perhaps, you should hold on a little longer. Because Bitcoin, it can only go up until it doesn't. However, that is a tale for another day. Trust yourself

[jossiel]

Bitcoin is worthy to hold for long term but if we have no other ways to fulfill our need then we shouldn't hesitate to sell because living happy life is our first priority.

There's a little solution on that, if you are in need and you are holding. Try to measure if you can keep and still hold a lot from it, like selling a little by little until that needs of yours is filled.

There will be many situations in this world that we will have to sacrifice our precious things. In these ten years i remembered many times that one coin I bought to hold for 5 years at least sold out in 2 years because of bad situation and when everything become normal I got these coins again.

Yeah, we can't just dictate the situation and if we're in need of it and your last option is to sell then you will be forced to sell. Can say that we can always accumulate.

But, if that happens we will never know how high the price will be if we go back and DCA.

[dothebeats]

At the end of the day, it is your bitcoin, it is your property and it should be your decision how you will handle it. If you feel and think that your coins should stay where they are now is the best way to do then go ahead, no one knows your financial capacity and state more than you do. And I agree with you, Bitcoin and the system is a slow and steady process, we all want to make a profit off it after all.

"We all want to make a profit" But the problem is that not all can HODL long enough to make it happen but these people can try trading instead or short-term investing by starting to buy at the dip. If we badly need a money but we are still at a loss if ever we will sell our Bitcoin's, it's better to think of other ways first to have a money.

Maybe we can sell the item that we rarely use? Or we can also take a loan? But if only we learn how to budget and save up and maybe add another lite job to earn an extra income, we won't end up like that. We should not put the blame on the bad economy or on how our government runs it. The problem is only us.

As much as there is a certain degree that the government is responsible for our financial situation such as the lack of job opportunities and low income for public and government workers (which is a whole new discussion, I am very hesitant to touch since it is different in every country), we are ultimately responsible for our own situations. It is our actions, decisions, and even lack of those that lead us to where we are. See, the problem is, most of those who are putting the blame on others like the bad economy and government, are those who are letting themselves be stuck in a bad situation, letting themselves just be there and believing that there is no other way out as their initial plan and ideas did not work or resulted to a negative outcome. Moreover, these "complainers" (as I'd like to refer to them) do not find ways to acknowledge and solve the problems but instead, let the problems devour them and find other means to blame and run away from their responsibilities. The key to ensuring that you are able to move forward, despite the hurdles that outside factors bring (including unexpected situations) is to stick up for your decisions and actions, even if they bring more problems and negative outcomes, if you take responsibility for these you will learn to solve them one by one and find a way out of them and turn bad results to opportunities.

[bitLeap]

Bitcoin is worthy to hold for long term but if we have no other ways to fulfill our need then we shouldn't hesitate to sell because living happy life is our first priority.

There's a little solution on that, if you are in need and you are holding. Try to measure if you can keep and still hold a lot from it, like selling a little by little until that needs of yours is filled.

There will be many situations in this world that we will have to sacrifice our precious things. In these ten years i remembered many times that one coin I bought to hold for 5 years at least sold out in 2 years because of bad situation and when everything become normal I got these coins again.

Yeah, we can't just dictate the situation and if we're in need of it and your last option is to sell then you will be forced to sell. Can say that we can always accumulate.

But, if that happens we will never know how high the price will be if we go back and DCA.

It will indeed be a dilemma when we need something and the choice is to sell bitcoin. If it is the only way then we can do it, but remember the outline "if it is the only way". However, if we still have several other solutions, then it is better to avoid it, especially if our investment has just started and has not yet made a profit, in my opinion it is a 2-fold loss.
Again we are talking about good planning here. If we can do that I think we can avoid it all. indeed something difficult comes cannot be predicted. But we can prepare well in advance.

[xSkylarx]

Bitcoin is worthy to hold for long term but if we have no other ways to fulfill our need then we shouldn't hesitate to sell because living happy life is our first priority.

There's a little solution on that, if you are in need and you are holding. Try to measure if you can keep and still hold a lot from it, like selling a little by little until that needs of yours is filled.

There will be many situations in this world that we will have to sacrifice our precious things. In these ten years i remembered many times that one coin I bought to hold for 5 years at least sold out in 2 years because of bad situation and when everything become normal I got these coins again.

Yeah, we can't just dictate the situation and if we're in need of it and your last option is to sell then you will be forced to sell. Can say that we can always accumulate.

But, if that happens we will never know how high the price will be if we go back and DCA.

It will indeed be a dilemma when we need something and the choice is to sell bitcoin. If it is the only way then we can do it, but remember the outline "if it is the only way". However, if we still have several other solutions, then it is better to avoid it, especially if our investment has just started and has not yet made a profit, in my opinion it is a 2-fold loss.
Again we are talking about good planning here. If we can do that I think we can avoid it all. indeed something difficult comes cannot be predicted. But we can prepare well in advance.

That is really a difficult situation and decision to make. You'll be needing to decide if you sell it off because you need it for emergency purposes or you take out a loan just for that emergency thing. You really need to think but again if there is a will there is a way meaning we will find another way to get that money that we needed because selling it is for sure we are at a loss so we will find a way to like hold it more and probably if we can profit from it that is the profit that we will be paying for that debt. So again it is just our decision if we don't have another choice like zero choices then you'll need to bail out and sell it off.

[Nheer]

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.

I wouldn’t lie it is very difficult here as well, the economy is very tough and the high cost things have affected us here too. In my country things get cost every now and then and the amount we spend for the month to cover our needs and wants is barely enough to last us 2 weeks and the salaries earned by workers is no more sufficient for them and their families and a lot of us who try to save up one way or the other turn to our savings for survival. The economy is not friendly and holding bitcoin for the future is becoming more difficult, saving part of my bitcoin earned from signature campaign is even more difficult and instead i spend some part of my holding when the need arise because my earnings is not enough to live on anymore. I hope things get better so i can hold my bitcoins for the upcoming bull run.

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’s true, people in countries with a stable economy and good jobs will find it easier to save and hold bitcoin than those in countries with unstable economy and scarcity of jobs and employment opportunities. You will only be able to save when you have food and have all your responsibilities and needs taken care of because only those alive have a future and it’s better to live comfortably and have no savings than to leave all your needs and responsibilities unattended and have a lot of savings.

[jossiel]

~snip~

It will indeed be a dilemma when we need something and the choice is to sell bitcoin. If it is the only way then we can do it, but remember the outline "if it is the only way".

Yes, it's like your very last choice and you did everything to think of and pull anything that you have to pull.

However, if we still have several other solutions, then it is better to avoid it, especially if our investment has just started and has not yet made a profit, in my opinion it is a 2-fold loss.
Again we are talking about good planning here. If we can do that I think we can avoid it all. indeed something difficult comes cannot be predicted. But we can prepare well in advance.

Someone who's sold his bitcoin and tried to find any other solutions but still ended up with selling it, I know that they have tried hard but it's just  that there's really no other option left anymore to them.

It is understandable but I wish that it won't let them down.

[knowngunman]

Someone who's sold his bitcoin and tried to find any other solutions but still ended up with selling it, I know that they have tried hard but it's just  that there's really no other option left anymore to them.

It is understandable but I wish that it won't let them down.

Poor planning from the beginning is the reason behind all this conditional selling of bitcoin. You know what you earn weekly or monthly and you know what you spend as well as your savings. After you have a reasonable savings, you can take part of it to invest in bitcoin which is not part of your calculation again. I mean you should consider it as not part of your asset until when your target is hit. In the case of emergency, you can spend from your savings and no need for you to sell your bitcoin.

Planning is the key to success. You can not invest bitcoin with whole of your savings and expect miracle to happen when you are in need.. It's better to invest a little amount in bitcoin for a long time than to be in haste to invest heavenly and run in bankruptcy that will lead you to sell it within short period of time with possible lose.

[kojektea]

I think put the needs first. if you really have to take part of the bitcoin investment for needs why not. and it would be better not to focus on just one asset, bitcoin does have good growth, but wouldn't it be better if we didn't just put it in one basket. try to invest where it is more promising within the time that can be targeted. Bitcoin has high fluctuations, even waiting for the trend to return takes several years, therefore we must try to invest in something more stable.

[Issa56]

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.

In some parts of the country, some people are finding it difficult to eat a three-square meal, not because they don't want to eat but because they can't afford it. I don't think anyone will be having bitcoin in his or her wallet and will still want to starve himself, definitely, they will sell maybe some part of the bitcoin just to take care of the necessary things that they need to do at that particular time, and at the end, they will be selling the bitcoin gradually till they sell all their bitcoin. They have the intention to hold the bitcoin, but they don't have a choice, so they have to sell.

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.

When you are holding bitcoin, you have to be disciplined, but sometimes you won't have a choice but to sell. If you are having some health challenges that you need money to solve and the only money you have is the bitcoin you are holding, you won't have a choice but to sell your bitcoin just to take care of yourself.

[Oilacris]

I think put the needs first. if you really have to take part of the bitcoin investment for needs why not. and it would be better not to focus on just one asset, bitcoin does have good growth, but wouldn't it be better if we didn't just put it in one basket. try to invest where it is more promising within the time that can be targeted. Bitcoin has high fluctuations, even waiting for the trend to return takes several years, therefore we must try to invest in something more stable.

Whether you do like it or not which your main priority would really be your needs on which you would really be ensuring or assuring that you would really be able to make yourself provide and sustain

or give on whatever your family needs in terms or survival on which as a family man or person then you would really be having that kind of obligation and responsibility. You would really be only thinking about on other things if you do see that you do have some extra funds whether it would really be stored up as savings or would really be used on finding for some business or investment for you to be able to make out that another kind source of income. We arent blind on how economical problems that we do experience could really put up us on the hard situation on which leaving out no choice but to spend to those money which are really that intended for investment.

Just like on what we are really that pertaining which is on Bitcoin holding which there are really that moments which we cant really be able to avoid on spending
specially if we are really that in need of money or really just that short.

[Iroh]

Maybe we can sell the item that we rarely use? Or we can also take a loan? But if only we learn how to budget and save up and maybe add another lite job to earn an extra income, we won't end up like that. We should not put the blame on the bad economy or on how our government runs it. The problem is only us.

The problem is not on the people but bad government. If government provide good economic incentives to do business then people will be glad to struggle in business. Incentives like soft loan or interest free loan with very low repayment percentage then businesses will fluorish. If government policies reduce taxing on small business (SME) and encourage farming by supplying fertilizers, crops the economy will improve because it will add to the GDP.

The problem lies with both the government and the people. A lot of people blame their woes and problems on the government despite not doing anything themselves to change their situation. A lazy individual would always find someone else to take the blame for a bad situation.
Admittedly, the government should always step up and try to increase the standard of living for its citizens but you wouldn’t expect the government, having not enough resources to satisfy everyone.

Incentives meant to encourage entrepreneurship and growth are in some cases, available to the public but a lot of citizens willfully remain ignorant waiting and relying on handouts from the government.

[bestcoins1]

I think put the needs first. if you really have to take part of the bitcoin investment for needs why not. and it would be better not to focus on just one asset, bitcoin does have good growth, but wouldn't it be better if we didn't just put it in one basket. try to invest where it is more promising within the time that can be targeted. Bitcoin has high fluctuations, even waiting for the trend to return takes several years, therefore we must try to invest in something more stable.

If what you mean is the daily needs that you have to provide in life, I think that should be separated from the capital that will be brought into any investment. So, if you want to focus on several investments for your future, try applying a percentage pattern that you can divide into several other valuable assets besides Bitcoin. But you have to remember that Bitcoin is the best asset that has been proven for years.

So putting a larger percentage of capital into it is a very appropriate thing so that you can use the rest for other things if you like to put capital in several investment baskets. And also coins other than Bitcoin usually won't immediately increase in a short time or within a certain time if Bitcoin doesn't move well in the market, but if you like stable investments for now, I think you need to look at investments like Gold and also stable coins others where the level of risk of loss is always small, as well as the level of profit that you can get from both.

[TelolettOm]

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.

If it really happens, it surely makes us to have no choice. Even worse, if we have no savings on banks and have no other assets besides Bitcoin. Selling the Bitcoin is the only way to deal with the situation. If it happens to me, I also won't think twice to sell it even if it is still in the red market. When it is related to the urgent needs, we will sell everything that can fulfill the needs.

Sure, we don't rely on Bitcoin investment only, it is better to diversify our assets. Ideally, we also have stable coins in our wallets, we can sell our stable coins when the market is red. The price of stable coins like USDT or USDC tends to increase during the red market. So, it can be the right solution whenever we need fiats when the market is dump.

Anyway, it is surely better if we have some jobs. When we lose 1 job, we still have another job. But we need to divide our focus when we have some jobs. Although we have 1 main job, we must have enough time to handle side jobs as well. If someone only can focus 1 job only, they are unable to run some jobs.

[Bebe22]

Investing is important and really good, and if you're not disciplined enough it becomes really difficult but at the same time no one should ever invest at the expense of meeting pressing needs. Bad economic situations will always come go creating upstreams and downstreams of the economy. It may lead to many people losing their jobs and many business going bankrupt,so a person should always have multiple sources of income making it easier to invest .And also, there are wallets which hold Bitcoin as if it's a fixed deposit account. You may want to try one of those if your discipline is playing games on you.

[Marvell1]

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.

If it really happens, it surely makes us to have no choice. Even worse, if we have no savings on banks and have no other assets besides Bitcoin. Selling the Bitcoin is the only way to deal with the situation. If it happens to me, I also won't think twice to sell it even if it is still in the red market. When it is related to the urgent needs, we will sell everything that can fulfill the needs.

Sure, we don't rely on Bitcoin investment only, it is better to diversify our assets. Ideally, we also have stable coins in our wallets, we can sell our stable coins when the market is red. The price of stable coins like USDT or USDC tends to increase during the red market. So, it can be the right solution whenever we need fiats when the market is dump.

Anyway, it is surely better if we have some jobs. When we lose 1 job, we still have another job. But we need to divide our focus when we have some jobs. Although we have 1 main job, we must have enough time to handle side jobs as well. If someone only can focus 1 job only, they are unable to run some jobs.

Selling bitcoin on the red market or selling without the plan we have set out is never a comfortable feeling. But there are more important things in life than bitcoin, and the purpose of investing in bitcoin is also for us to have a better life. So I won't hesitate to sell my bitcoins if there is no other solution.

Having multiple sources of income, lots of savings, many different assets...is what everyone wants. But what matters is how many people are doing it. It sounds easy to say but we even struggle to save little by little, so how can we have so many savings, so many different assets? It's very difficult to do that these days.