How you start a particular journey matters a lot.

[Hewlet]

I've read so many threads where people assert that they sold or intend to sell an asset just because they want to invest in Bitcoin, while this might present the person as someone who believes so much in Bitcoin and even went to the extent of selling an asset just to invest into it, is it the right thing to do?

I have attended a lot of business seminars and one of the key advice we receive most of the time is not to start up a business with borrowed money as it will put us under unnecessary pressure and the outcome doesn't always end up well and although selling an asset to start up a business or in this context, buying of bitcoin isn't directly borrowing, but it goes a long way to show how unprepared you are, venturing into that business.

And I guess this is the reason why a lot of people can't hold their bitcoin for a while before selling it off in times of minor challenges.

I still will want to reiterate that the idea of investment isn't for people with no source of income who have to start up their bitcoin investment journey with the money realized from the sell of an asset or even considering using a borrowed money, it won't let you to invest profitably and so I just want to advice all the newbie and old folks that intend accumulating bitcoin but that don't have a means of doing so now to work first In their personal lives and ensure that they get something going on in their lives before venturing into accumulating Bitcoin.

Remember that bitcointalk.com is not an office and so you should find other sources of income and then you will appreciate the forum and your holding will not become the nearest option to consider whenever an emergency sets in.

[cafter]

It is not advisable to sell important assets like a land to invest in risky business/bitcoin, but if you have non-essential asset you're willing to part with, you could consider selling that and using the funds to invest in bitcoin. This approach follow the rule of investing an amount you can afford to lose.

If you have a stable source of income, such as a job or business, it might be a wiser choice to start investing in bitcoin gradually. This way, you can keep aside a small portion of your regular earnings and Start to DCA in bitcoin. This approach is generally considered more prudent than selling valuable assets solely to invest in bitcoin.
What is Dollar Cost Averaging?

[Zaguru12]

I still will want to reiterate that the idea of investment isn't for people with no source of income who have to start up their bitcoin investment journey with the money realized from the sell of an asset or even considering using a borrowed money, it won't let you to invest profitably and so I just want to advice all the newbie and old folks that intend accumulating bitcoin but that don't have a means of doing so now to work first In their personal lives and ensure that they get something going on in their lives before venturing into accumulating Bitcoin.

I agree with you that borrowing money to invest into bitcoin or any investment is actually not the perfect way most especially a volatile asset like bitcoin because it mounts unnecessary pressure on the holder. But I will say there are cases where people actually do well with borrowed funds or sold items. First instance on borrowed funds is when you have a strong collateral to pay back or you’re expecting a certain amount of money which you had worked for and plan to invest in bitcoin but you see an opportunity to buy maybe the market is low then you can actually borrow since there is a another means to pay outside the bitcoin itself. Example is Microstrategy borrowing to invest into bitcoin.

Another case is selling off abandoned properties that you think will depreciate with time since no one is using it example is maybe a car or an old house. Or maybe you have extra properties, you can actually sell some off to invest into bitcoin like jewelries

Some of this are actually possible for bouyant individuals, so just as you said someone without extra income shouldn’t do any of the above

[Doan9269]

I've read so many threads where people assert that they sold or intend to sell an asset just because they want to invest in Bitcoin, while this might present the person as someone who believes so much in Bitcoin and even went to the extent of selling an asset just to invest into it, is it the right thing to do?

Life is not by force, instead by choice, if you're making an investment, it's either you exchange your fiat currency to bitcoin or any other cryptocurrency of interest, or you wait to accumulate more by earning the desired currency you want, the way we started matters indeed because we don't need to rush in doing somethings in life, we have to follow the due process which is a gradual one, selling an asset is not a bad decision to invest in bitcoin if it's turning to a liability, but a profitable asset may not have to necessarily go for bitcoin to set in, it's a matter of understanding, why you're taking some decisions or not.

[Ndabagi01]

I still will want to reiterate that the idea of investment isn't for people with no source of income who have to start up their bitcoin investment journey with the money realized from the sell of an asset or even considering using a borrowed money, it won't let you to invest profitably and so I just want to advice all the newbie and old folks that intend accumulating bitcoin but that don't have a means of doing so now to work first In their personal lives and ensure that they get something going on in their lives before venturing into accumulating Bitcoin.

Remember that bitcointalk.com is not an office and so you should find other sources of income and then you will appreciate the forum and your holding will not become the nearest option to consider whenever an emergency sets in.

According to this theory, it is far preferable to invest money you don't want to use right now rather than borrow money or sell a valuable asset to invest in bitcoin. If you must sell something before investing in bitcoin, you must examine it and ensure that what you are selling is worth selling in order to invest in bitcoin.

Some assets become a liability at home or are difficult to maintain; in such cases, selling will be the best option, and investing in bitcoin with that money should be the best step to take if you don't have any important things to do with that money.

The concept of DCAing is still the best and most effective method for accumulating bitcoin. It is not stressful to work for and does not require you to be distressed before investing in bitcoin.

Lump summing is also a good idea, but it is not something that many of us can do. Of course, the wealthy can still DCA, and the less wealthy can lump sum whenever they have the opportunity.

[www.Gambler.Casino]

Each person must personally assess the risks before trusting any electronic asset.

[alastantiger]

I know that there is a general rule to this which in reality is not a hard or fast rule.

Starting out on a particular journey requires adequate planning. Anyone will a good strategy can go against cautions like investing what you can afford to lose, do not borrow to invest and all may and still be fine. The person who invests what they know that they cannot afford to lose may be coming from a finance, investment, and economic background and know that bitcoin is the hope for all humankind. The one who borrows money to invest may already have a repayment strategy that will not be so much on them.

In the end, everyone should do what works for them and not copy another person. The end goal is to hold as much bitcoin as one can and escape the economic, financial and social rat race.

[Marvelman]

I've read so many threads where people assert that they sold or intend to sell an asset just because they want to invest in Bitcoin, while this might present the person as someone who believes so much in Bitcoin and even went to the extent of selling an asset just to invest into it, is it the right thing to do?

I have attended a lot of business seminars and one of the key advice we receive most of the time is not to start up a business with borrowed money as it will put us under unnecessary pressure and the outcome doesn't always end up well and although selling an asset to start up a business or in this context, buying of bitcoin isn't directly borrowing, but it goes a long way to show how unprepared you are, venturing into that business.

I gotta say your thinking wasn't totally solid here.  Cashing out an asset you already own to get the money to buy another one - that's a whole different thing than borrowing money or taking out a loan.  And buying bitcoin isn't like starting a business either and  if you've got a good business plan, then start a company.  But you invest in stuff you think will gain value over time.  So it makes sense for an investor to sell one thing to buy another if they think its smart.

And I guess this is the reason why a lot of people can't hold their bitcoin for a while before selling it off in times of minor challenges.

No. This is not the reason why week hands sell on the slightest change.

[tabas]

Investing isn't really for everyone. What I've seen with various threads posted here is that they have the desire to invest and buy Bitcoin but they just can't because they don't have jobs, they don't have savings and in short, they don't have a source of income. How can you invest into a new venture for not having your own money? That's why it's not all about how much you can invest but how well planned you are into investing in Bitcoin.
Is the money you have ready to invest is yours? Invest.
Is that money okay to sit for a very long time? Invest.
Is that money okay to lose? Invest.
That's what we're talking about when we invest in Bitcoin. It's not just plainly investing in Bitcoin but also its affection to the other things that you do and the necessities that you may need to sacrifice because of it for which, you shouldn't do.

[Smartvirus]

Having to sell an assert to invest in some other capital intensive investment isn’t such a bad choice and isn’t the best choice either as, asserts are something worth having to stick around for a long while except, it’s a type that isn’t adding any value to itself then, it wouldn’t be such a bad idea to monetize it to invest its funds in something that could have more value in time.

This is entirely different from having to take investment loans. Loans simply carry a pay back policy and in most cases, it’s got a period to it and attracts profit. Loans means a third party and with that comes some sort of pressure that requires you to at all times, make the right decision. Anything outside what is the right decision would mean, your steps away from not fulfilling your loan promises and can end badly for you and the investment.

Now that’s a whole lot of pressure and being pressured alone don’t put you in a very good spot for making good decisions.

[BlackBoss_]

I've read so many threads where people assert that they sold or intend to sell an asset just because they want to invest in Bitcoin, while this might present the person as someone who believes so much in Bitcoin and even went to the extent of selling an asset just to invest into it, is it the right thing to do?

Many people wrote and shared those stories, you can read those stories and I believe you will feel enough with replies in those topics.
Announce your story with Bitcoin, first purchase, sale, business, education ...

Investing, trading are risky and when a person does it, he or she must know about risk and have a proper risk management besides capital management. Without a good risk management, it is bad decision even he or she buy or sell anything to invest, trade Bitcoin.

[kotajikikox]

I've read so many threads where people assert that they sold or intend to sell an asset just because they want to invest in Bitcoin, while this might present the person as someone who believes so much in Bitcoin and even went to the extent of selling an asset just to invest into it, is it the right thing to do?

There are some success stories about same attitude and there are even goes viral as His family is part of the journey when they sold their house and assets and live somewhere in the isolation just to invest all in bitcoin and years after he succeeded bout this is the story everyone can ever told so for me  this is a riskiest way to trust and believe with all your life.
while others succeeded yet there are many that fails because their expectation is too early to what market can bring them.
have a full responsibility if you consider doing the same.

[Outhue]

Its fine if you think its a bad idea to sell your assets for Bitcoin, but don't try talking people out of this, if it was other assets we are talking about i will support the motion, I won't dare sell my favourite assets to invest in anything else but bitcoin because its Bitcoin.

If other big organisations around the world are heavily investing in bitcoin just accept the fact that you know too less about Bitcoin, to me its worth selling assets to acquire some Bitcoin, as far as you still have some other assets its a good play.

I have not seen anyone who sold their things for Bitcoin losing out, I know friends back in school that sold cars and lands and other things, they never regret that they did it, it depends on the mindset, if you think its a bad idea then don't do it.

[Bako97]

I've read so many threads where people assert that they sold or intend to sell an asset just because they want to invest in Bitcoin, while this might present the person as someone who believes so much in Bitcoin and even went to the extent of selling an asset just to invest into it, is it the right thing to do?

I have attended a lot of business seminars and one of the key advice we receive most of the time is not to start up a business with borrowed money as it will put us under unnecessary pressure and the outcome doesn't always end up well and although selling an asset to start up a business or in this context, buying of bitcoin isn't directly borrowing, but it goes a long way to show how unprepared you are, venturing into that business.

And I guess this is the reason why a lot of people can't hold their bitcoin for a while before selling it off in times of minor challenges.

I still will want to reiterate that the idea of investment isn't for people with no source of income who have to start up their bitcoin investment journey with the money realized from the sell of an asset or even considering using a borrowed money, it won't let you to invest profitably and so I just want to advice all the newbie and old folks that intend accumulating bitcoin but that don't have a means of doing so now to work first In their personal lives and ensure that they get something going on in their lives before venturing into accumulating Bitcoin.

Remember that bitcointalk.com is not an office and so you should find other sources of income and then you will appreciate the forum and your holding will not become the nearest option to consider whenever an emergency sets in.

This is an important factor to consider as a trader, having side gigs won't only keep the trader afloat, but also helps in keeping up with consistency.
I witnessed someone who deleted all his trading apps and relocated back to the rural settlement where he can cultivate crops, he starts to harvest after some months of hard work and back breaking labour in the farm, as soon as the income becomes steady, he resumed back to trading by reintroducing himself with the fundamental knowledge on crypto world, and it works out for him.
Side gigs does a lot in boosting trader's courage and courage as a trader is a key factor in your trading habit.

[odunybiz]

I've read so many threads where people assert that they sold or intend to sell an asset just because they want to invest in Bitcoin, while this might present the person as someone who believes so much in Bitcoin and even went to the extent of selling an asset just to invest into it, is it the right thing to do?

Many people wrote and shared those stories, you can read those stories and I believe you will feel enough with replies in those topics.
Announce your story with Bitcoin, first purchase, sale, business, education ...

Investing, trading are risky and when a person does it, he or she must know about risk and have a proper risk management besides capital management. Without a good risk management, it is bad decision even he or she buy or sell anything to invest, trade Bitcoin.

Risk management is very important in any business because almost all business come with its own risk. The volatility of cryptocurrency make it's risk very high. It doesn't worth it risking your landed property on an investment that look more risky especially when you don't know much about the business.

[serjent05]

I've read so many threads where people assert that they sold or intend to sell an asset just because they want to invest in Bitcoin, while this might present the person as someone who believes so much in Bitcoin and even went to the extent of selling an asset just to invest into it, is it the right thing to do?

I have attended a lot of business seminars and one of the key advice we receive most of the time is not to start up a business with borrowed money as it will put us under unnecessary pressure and the outcome doesn't always end up well and although selling an asset to start up a business or in this context, buying of bitcoin isn't directly borrowing, but it goes a long way to show how unprepared you are, venturing into that business.

Considering this statement, selling a property to invest is not the same as borrowing money to invest.  Between this two option, selling property to start an investment or business is more advisable.  in terms if it is the right thing to do is situational.  

Those who sell a property and invest in Bitcoin while Bitcoin is in peak may probably show that it was a wrong decision, while those who sold their property and invested it on Bitcoin when it plummeted to $17k this year seems a wise decision considering the current price of Bitcoin.

So whether the decision is right or wrong depends on the timing of the person investing on Bitcoin.

I still will want to reiterate that the idea of investment isn't for people with no source of income who have to start up their bitcoin investment journey with the money realized from the sell of an asset or even considering using a borrowed money, it won't let you to invest profitably and so I just want to advice all the newbie and old folks that intend accumulating bitcoin but that don't have a means of doing so now to work first In their personal lives and ensure that they get something going on in their lives before venturing into accumulating Bitcoin.

Not only a source of income but also an investment is for those who have the money to spend that will not affect their daily and future needs.

[michellee]

It is not recommended to start investing with borrowed money. But we know that there are people who can earn money from many places and they don't have a regular source of income. What is important in this case is that someone can have the money to start investing. He can start working to earn money.

After all the money he gets has been allocated to its places, it should be, and he still has free money, which is what he uses to invest. But some people sell some of their assets to start investing in Bitcoin. They are among the people who dare to take risks, especially if they know how Bitcoin's future will develop.

And before they invest in Bitcoin, they should have studied it first. That is to find out whether they can afford to invest in Bitcoin or whether they will panic from time to time due to changes in the price of Bitcoin.

[Samlucky O]

We should not sell some properties to by Bitcoin. Expecially land because land also has a volatile. Things that has volatile shouldn't be sold, it is otherwise be classified as diversification of potfolio because it will yealed a greater return in the future. If actually there is a need, I sudjest the asset should be decide and sell some part and retain some.

And I guess this is the reason why a lot of people can't hold their bitcoin for a while before selling it off in times of minor challenges.

I think why they do such is because they don't have other source of income source. That is why it is good as a crypto investor, you need other source of lively hood to support your crypto journey.

[ancafe]

I still will want to reiterate that the idea of investment isn't for people with no source of income who have to start up their bitcoin investment journey with the money realized from the sell of an asset or even considering using a borrowed money, it won't let you to invest profitably and so I just want to advice all the newbie and old folks that intend accumulating bitcoin but that don't have a means of doing so now to work first In their personal lives and ensure that they get something going on in their lives before venturing into accumulating Bitcoin.

Remember that bitcointalk.com is not an office and so you should find other sources of income and then you will appreciate the forum and your holding will not become the nearest option to consider whenever an emergency sets in.

In theory it is true and taking loans to develop a business is not the right choice because people never know how the business trip process can produce results. But if you learn further business people who dare to take risks by borrowing a lot of money and they are also successful. What can we learn from these two issues?

1. Can take loans when you know the business developed has the potential to be successful and a survey may have been made before starting.

2. Don't take a loan if you don't have a strong skill, support and network to build a business because 70% of people will fail if you take this approach. It is important to make previous planning so that we know how the business trip process that we will develop.

3. I do not agree with some people who take the loan and then invest the money in Crypto/Bitcoin. It will be quite risky and the worst cases that will occur we will experience problems at the loan site that we take and in the end everything is lost and we have to pay the loan every month.

[HajiBagi]

Giving up something to put money into bitcoin? Not a big risk, is that? It is not something I can do, and I will not advise anyone to do so. While it may have been done in the past, I don't believe those individuals gave it much thought before acting on it. Investing in bitcoin is a serious matter, and before we even attempt to do so, we must realise that it is an investment that requires time and patience; it is not something you can invest in today and hope to profit in the coming days or weeks.

Before making an investment in bitcoin, you must be able to do so. While selling assets is not always a bad idea, doing so while lacking another source of income is a waste of time. It is better to start a business and invest in bitcoin after you have made some money from it. As a novice, I think it is a risky process to sell assets to make bitcoin investments.