Black Friday deals and your plan to hold bitcoins.

[Stepstowealth]

Although Black Friday is commonly associated with sellers offering huge discounts to customers, is this really true?

Black Friday is an excellent time to buy only what you need, not what you want. The event's psychology is to give consumers greater purchasing power and encourage unnecessary spending.

For example, a lot of individuals or bitcoin holders may sell significant amounts of their cryptocurrency during this time because they wish to purchase items that will affect their investments. Black Friday deals can affect your plan to hold bitcoins, and as an investor, you have to be careful and be disciplined enough to control yourself.

Have you purchased any item during this time?, was it a need or a want?
Did you have to use some or a significant amount of your bitcoins?

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For example, a lot of individuals or bitcoin holders may sell significant amounts of their cryptocurrency during this time because they wish to purchase items that will affect their investments. Black Friday deals can affect your plan to hold bitcoins, and as an investor, you have to be careful and be disciplined enough to control yourself.

The cardinal way to control your expenses is to have a budget and follow it diligently. If I don't have a plan to buy anything during this period, nothing can change my stand. A good investor is one who is not moved by enticing adverts because he is self-controlled. I also have my investment budget, expenses budget and emergency funds. My emergency funds might be tampered with in rare cases, but my investment is a no-go area until the projected time to liquidate the funds.    

Have you purchased any item during this time?, was it a need or a want?
Did you have to use some or a significant amount of your bitcoins?

Black Friday is indeed a good time to buy things at a discounted price. But it depends on how important the item the person intends to buy after selling his coin. In some cases, people buy what they don't really need because of the discounted rate. Some people might decide to sell their coins because they have planned to maximize the discount offered on Black Friday. I plan to purchase a power bank and install a solar backup power source if the price is good. But I have already kept the money for the purchase, hence no need to sell any coins.    

[NotATether]

For example, a lot of individuals or bitcoin holders may sell significant amounts of their cryptocurrency during this time because they wish to purchase items that will affect their investments. Black Friday deals can affect your plan to hold bitcoins, and as an investor, you have to be careful and be disciplined enough to control yourself.

Most people are not going to rush to liquidate their bitcoins because they already have a bank account balance which they can use to take advantage of Black Friday deals and buy stuff. Withdrawals sometimes take days to process depending on the exchange, so there's a possibility that selling and cashing out might not be fast enough to catch the deal on time. (But this is a non-issue if you have credit cards.)

[Davidvictorson]

For example, a lot of individuals or bitcoin holders may sell significant amounts of their cryptocurrency during this time because they wish to purchase items that will affect their investments. Black Friday deals can affect your plan to hold bitcoins, and as an investor, you have to be careful and be disciplined enough to control yourself.

It is very unlikely that this would be the case. We are expecting a bull run and liquidating a part of your investment for black Friday deals doesn't sound smart to me no matter what the reasons may be. It only shows that the holder lacks the ability to delay gratification.

Have you purchased any item during this time?, was it a need or a want?

I doubt the genuineness  of these black Friday deals. I hear their discounts aren't actually any discounts.

Did you have to use some or a significant amount of your bitcoins?

Never. I will fail Satoshi if I did this.

[Helena Yu]

Then why it feels wrong to spend money for your need or desire? you're really easy to judge someone life, when someone did something different from you, it doesn't mean they're wrong.

Someone invest $5,000 in Bitcoin after the next 2 years his Bitcoin investment now worth $20,000, then he sold all of his coins. The reason is when he was a kid, he dreamed to have Ninja H2 SX in the future, so his money will be used to buy that sport bike.

Each person has it's own choice.

[Majestic-milf]

 It can be really tempting to take advantage of the Black Friday deals and just liquidate your Bitcoin so you can purchase that one thing you've always dreamed of getting but for some reason couldn't but I don't think that's necessary. For one, before investing in Bitcoin, you must have had spare cash, right? So why touch the investment when I can use cash or better yet, wait for another Black Friday sale? I mean, one more waiting won't kill anyone right?
 The essence of holding these coins is so we can wait for when it's ripe so we can sell to have a greater gain but just because we want to take advantage of the cheap prices of things thanks to Black Friday doesn't have to make us sell. It then defeats the purpose of holding.  If you can just pause for a minute when you get that rush to purchase those things you feel trading your BTC is worthy for, you'd find that most times it's only a want and not a need.

[348Judah]

Although Black Friday is commonly associated with sellers offering huge discounts to customers, is this really true?

It's actually true that they make this promotional offers on discounted items but not every buyer is benefitibg from them all, those that were being discounted will be hidden and the only first customer to discover them win the item having such discount, they may try to make us of a poll or appear in form of a lottery while everyone is eligible but few were selected.

Have you purchased any item during this time?, was it a need or a want?
Did you have to use some or a significant amount of your bitcoins?

I can't even try to make use of my bitcoin to purchase a slot on applying for this black friday offers, it was then in the past that everyone if us were being too eager to make purchase and buy things at a discounted rate but not anymore because we've realized it's sometimes a waste of time and they are using such as a market strategies.

[hg_away]

If what I want to buy is worth the wait, I track the price throughout the year and choose the lowest price that year. Sometimes the Black Friday offers are excellent, but they are not golden sales, which means that the offers they advertise are real.

[Yogee]

Although Black Friday is commonly associated with sellers offering huge discounts to customers, is this really true?

Maybe some businesses follow that but I've already seen some products sold online where the price is actually lower a couple of months back than what's posted as "70% discount" for black Friday sale. It's deceptive marketing but I guess that's what they usually do specially during holiday seasons since sellers know people have money to spend.

Have you purchased any item during this time?, was it a need or a want?

I had a plan until I saw what I explained above.

Did you have to use some or a significant amount of your bitcoins?

BTC untouched.

[michellee]

I'm lucky because I buy things out of necessity and not desire. When I really need those things, I will buy them. But if not, I won't buy it and will probably just keep it in my order basket. I'm still training myself to be able to save money and Bitcoin because I want to get big returns like yesterday's ATH.

So it's not because of Black Friday that I buy things but because I need them. But I often miss the Black Friday moment by not buying anything. And that allows me to save some money for sudden needs. I can still stop myself from buying things I don't need. That's because I still use existing items to this day.

And I also don't sell my Bitcoins for unnecessary things. I still want to buy more Bitcoin. If there is a big discount in the market in the form of a drop in the price of Bitcoin, I don't want to miss it and want to buy more.

[DVlog]

After this prolonged bear market where we struggled to accumulate bitcoin, this is not the right time to sell bitcoin for any possible correction. The feasible approach should be to prepare some cash to accumulate more bitcoin if there is any correction in the future. No one wants to risk missing the train only to get a few extra % discount on the bitcoin price. What if there isn't any correction at all?

Did you have to use some or a significant amount of your bitcoins?

Selling assets to purchase goods or basic needs is an ill practice if you are an investor. Your investment funds and your monthly expenses should be managed differently. Let your asset grow in value, then with the profit do whatever you want to do or keep that asset as collateral and take a loan in fiat or stable currencies. This way you can fulfill your desires without selling any assets.

[uneng]

Although Black Friday is commonly associated with sellers offering huge discounts to customers, is this really true?

I don't think so... During the Black Friday we just pay the fair price for goods which are overpriced on another days of the year.

Black Friday is an excellent time to buy only what you need, not what you want. The event's psychology is to give consumers greater purchasing power and encourage unnecessary spending.

That is the psychological effect of Black Friday in consumers' lives, but people who are already aware about this phenomenon don't fall for these tricks anymore. Promotions don't have a specific day or week of the year to happen: they can happen anytime, depending the needs of the seller. That is the real deal.

For example, a lot of individuals or bitcoin holders may sell significant amounts of their cryptocurrency during this time because they wish to purchase items that will affect their investments. Black Friday deals can affect your plan to hold bitcoins, and as an investor, you have to be careful and be disciplined enough to control yourself.

Have you purchased any item during this time?, was it a need or a want?
Did you have to use some or a significant amount of your bitcoins?

Crypto holders may feel tempted to sell their holdings in order to use the money for trivial purchases, but personally, I'm not feeling such temptation over me. I may need to sell my holdings for another reasons, but not because of a Black Friday event.

[shield132]

Although Black Friday is commonly associated with sellers offering huge discounts to customers, is this really true?

Sometimes yes, most of the times - no.
This is how black Friday works: Product costs $100 before black Friday, they increase price up to $140, then add a strikethrough effect and add $120 under increase price tag and call it a black Friday.

For example, a lot of individuals or bitcoin holders may sell significant amounts of their cryptocurrency during this time because they wish to purchase items that will affect their investments. Black Friday deals can affect your plan to hold bitcoins, and as an investor, you have to be careful and be disciplined enough to control yourself.

You invest money to gain more and to be able to buy more things. If you find something cheap on a particular day, you have to sell your coins and buy that item because there is no point in holding if you can't benefit and if your life stays the same. But one has to be careful whether it's a good idea to buy something with 20% off or wait a little bit and gain 30% on your capital.

[Porfirii]

I confess guilty of the charges of purchasing something that I wanted, but didn't need it, last black friday. And yes, I spent a few satoshis on it.

In my defense, I can say that I almost never buy anything for me apart from food and other basic needs. And it os the first black friday I remember that I purchased something for me, and not just christmas presents with discount for my relatives and friends.

Anyway, if it was more expensive I wouldn't have purchased it, less if I had to waste my precious btc for that. But this time it was a small and rare tribute to myself.

[MusaMohamed]

Black Friday deals can affect your plan to hold bitcoins, and as an investor, you have to be careful and be disciplined enough to control yourself.

Great discounts in Black Friday can help you to buy what you really need to use in next months. Go ahead to buy them if you need them and especially when you can buy them with great discounts.

Don't think it like if you buy them, you will not have money to buy bitcoin. Think about it like buying in Black Friday will help you to have savings to buy bitcoin. If you don't shop in Black Friday, you will have to spend more later and will have less savings for buying Bitcoin.

Black Friday is only harmful for your investment if you over shopping and don't have any saving left for buying Bitcoin.

[harapan]

Have you purchased any item during this time?, was it a need or a want?

This may make people who have used their money feel less disciplined. The whole point of making money is to have a better life. A better life isn't a life of only getting what you need, it's also about getting what you want. If I want a new laptop and I can afford it without much trouble, so I shouldn't get a new one despite the fact the the one I have is old but still manageable even if it's giving me problems?
There's a thine line between want and unnecessary spending. Because I'm trying to plan for the future doesn't mean I shouldn't try to have a better and more comfortable life

Did you have to use some or a significant amount of your bitcoins?

I can't speak for others for the bitcoin I HODL is in a separate wallet from any other bitcoin. You can't keep all the coins in one wallet. You cat keep the coins you plan to HODL for a very long time together with the use you trade with (for trader) and the ones you spend often in one walletm I don't think that is wise.
There is a bank account that can have money for your day to day spending, that is what you should spend from.

[Gozie51]

It is a good opportunity to buy what you actually need at the black Friday sales because you might have prepared for it and now you are going to get some freebies and bonuses for what you want.

If you are going for what you don't want on a bonus sales it means you can at least take care of it despite the economic downturn but it won't be a wise decision to buy things you don't need because of bonus whilst you don't have extra money to take care of yourself, your immediate need and want. I don't think I will do that and I won't use bitcoin at this time when I'm suppose to be accumulating 

[ChiBitCTy]

When it comes to economic situations, saving money is certainly key to your economic outlook..and I personally take full advantage of Black Friday as well as Cyber Monday.  Typically the sales deals last from Friday through Monday, which is nice.  I start a list several months out from this time period as I know I will be able to get a lot things for much less.  I spent a few hundred this year, but I definitely saved a good amount of money as well. 

I definitely did stay away from the fake "deals", like Target for example made fake Black Friday sign, where the products didn't actually get any discount. Shady stuff.

[crwth]

It gives you the reason to buy and not to really observe HODLing or something. Because in the market, the only discount that you can get is if the market itself is on the red and the decrease in price would be enough to get you in. I think that's the best discount and I think it just happens when there's really a big event that could happen.

Don't give yourself another thing to spend on, just HODL your BTC. 

[kryptqnick]

Black Friday is a thing in my country, but it's a relatively small thing. It's what companies push, advertising their discounted prices, but it's not popular among the people (we don't have crazy queues of people overshopping at that time, for instance).
From what I've seen, some businesses do offer actual discounts on products, but there's also this thing that you might buy something because of a discount that you would not have bought otherwise, so you're not exactly winning there. I didn't use BTC this time and I spent a very modest amount of money on something I was considering buying anyway.