Don't regret to spend your Bitcoin it is your money.

[Cryptoprincess101]

I know that Bitcoin is good to hold for many years so that it's value will increase very well and you will make a lot of profit. What if you have long term plan on what to do with your Bitcoin like in the next 8 years and it happens that it fall into bear run at that time meaning that price has dip. What will you do, will you go ahead and sell or hold it till the next bull run?

Investing for a long term has a plan of when you intend to take profits, but it doesn't mean that you shouldn't have a plan B in case your plan A fails which is taking profits at a specified period of time. If the price DIPs at a time when you needed to take profits, there is nothing bad in postponing it to the next bull run except you have an emergency need that would prompt you to tamper with your bitcoins but yes that is the risk of investment, it might not always work the way you planned it. Simply because you have made profits before your targeted time doesn't mean you should take the profits except you want to rebuy when a DIP occurs.

[Uhwuchukwu53]

It's unwise no matter how any investor in Bitcoin may desire to hold, if the investor has no target when to take profit and taste the value of it's investment or holding it means his struggling for his next generation to enjoy it.  In every investment what makes the investment to be more courageous even to spend more is when you enjoy some physical spend and buy things from the profit you made on your investment, it motivate more to engage and increase in such investment because one is really feeding enjoying the physical impact of the investment but where as one only seen the increments some time it doesn't satisfied the psychologically feeling of the body on investment.

[Makus]

You are right, but nobody should use this as an example for making careless expenses,  when you sell your bitcoin it's important to think of starting a physical business. you can spend your profits on your needs but it's important to use the most part of your profits to invest in other things. it is dangerous to put all your eggs in one basket, making money from bitcoin is an opportunity to expand your source of income. Don't be quick to assume that one investment is okay, also consider the fact that bitcoin price isn't always stable.

[Chinesebaby]

You are right, but nobody should use this as an example for making careless expenses,  when you sell your bitcoin it's important to think of starting a physical business. you can spend your profits on your needs but it's important to use the most part of your profits to invest in other things. it is dangerous to put all your eggs in one basket, making money from bitcoin is an opportunity to expand your source of income. Don't be quick to assume that one investment is okay, also consider the fact that bitcoin price isn't always stable.

Creating an extra source of income is very important and crucial, due to our insatiable needs and wants as humans, but that shouldn't make a Bitcoin investor sells his Bitcoin to buy a liability such as car where the tendency of spending more money on maintenance and buying fuel on a steady is rest assured. Because if he had thought of selling his Bitcoin at the current price below $100k to start up a business, that would have been a more perfect and acceptable scenario. Since the business is likely to generate another stream of income. But waiting for Bitcoin to clock 100k before buying his dream car is still very much okay, of which I would have done if I was in the same shoe.

[Futurexxx]

Regrets no Dey come when you Dey spend am, na after you don spend am and you can see the market to rise or pump. Na that time way you go wish say, if you being just wait for some more time.

Spending your Bitcoin no be really and thing shah, besides, watin you Dey invest for if you no fit jolly small from your plenty resource and time. The matter be say, as you Dey chop kwa, make you Dey use your head to know say, this thing way you Dey chop na asset way get better potential as the history of the coin don show. Make you Dey carry small small Dey chop am because, to buy back na at a higher price o.

Wetin you talk here na true my bro, sometimes regret might set in when after spending your Bitcoin and the market start appreciating, but their is no need to feel sorry or regret if wetin you use the money do dy really important because na who dy alive dy chop money, and you need to stay alive first today, before thinking of how tomorrow go be. Na person wey don see food chop first dy think of investment.

Just like wetin you don talk already, na for we to use our head when doing things because investment dy very important for the financial growth of a man, but before you invest, you go need to dy alright first, if not, you go just dy chop ur investment small small till e finish.

[Akaenyi]

You are right, but nobody should use this as an example for making careless expenses,  when you sell your bitcoin it's important to think of starting a physical business. you can spend your profits on your needs but it's important to use the most part of your profits to invest in other things. it is dangerous to put all your eggs in one basket, making money from bitcoin is an opportunity to expand your source of income. Don't be quick to assume that one investment is okay, also consider the fact that bitcoin price isn't always stable.

I understand what you mean but it's quite different from what I'm saying because it is not a must that you should reinvest the profit from your Bitcoin into another investment. There should be a time to take profit from any of your investments for personal use, we can't keep reinvesting all our profits we need to also enjoy some parts of it. If you don't spend your profit and you unfortunately die other people will enjoy it, maybe recklessly. If I have a goal to use my Bitcoin profit for something in the next 8 years when that time reaches I will spend on what I planned for if I have profit up to such amount.

[Bryan jessy]

This is a critical condition and it is so severe that it might left the Bitcoiner confused especially if he or she does not have another means of income, the exact reason it is advisable to have other means of income should in cases issues like this arises, we can not predict the future perfectly to know what lays ahead of us. So for someone who solely depend on Bitcoin I am scared but he has no choice here but to make use of it or decide to borrow from someone else and refund later when the market returns to normal.

I know that Bitcoin is good to hold for many years so that it's value will increase very well and you will make a lot of profit. What if you have long term plan on what to do with your Bitcoin like in the next 8 years and it happens that it fall into bear run at that time meaning that price has dip. What will you do, will you go ahead and sell or hold it till the next bull run?

Investing for a long term has a plan of when you intend to take profits, but it doesn't mean that you shouldn't have a plan B in case your plan A fails which is taking profits at a specified period of time. If the price DIPs at a time when you needed to take profits, there is nothing bad in postponing it to the next bull run except you have an emergency need that would prompt you to tamper with your bitcoins but yes that is the risk of investment, it might not always work the way you planned it. Simply because you have made profits before your targeted time doesn't mean you should take the profits except you want to rebuy when a DIP occurs.

Exactly, but in case of emergency and the price DIPs  without a plan B like you said, then the Bitcoin will have be tempered with. Too sad but that's the bitter truth and part of the system.

[Brizi5000]

Regrets no Dey come when you Dey spend am, na after you don spend am and you can see the market to rise or pump. Na that time way you go wish say, if you being just wait for some more time.

Spending your Bitcoin no be really and thing shah, besides, watin you Dey invest for if you no fit jolly small from your plenty resource and time. The matter be say, as you Dey chop kwa, make you Dey use your head to know say, this thing way you Dey chop na asset way get better potential as the history of the coin don show. Make you Dey carry small small Dey chop am because, to buy back na at a higher price o.

Wetin you talk here na true my bro, sometimes regret might set in when after spending your Bitcoin and the market start appreciating, but their is no need to feel sorry or regret if wetin you use the money do dy really important because na who dy alive dy chop money, and you need to stay alive first today, before thinking of how tomorrow go be. Na person wey don see food chop first dy think of investment.

Just like wetin you don talk already, na for we to use our head when doing things because investment dy very important for the financial growth of a man, but before you invest, you go need to dy alright first, if not, you go just dy chop ur investment small small till e finish.

there is absolutely no need to regret after spending your money gotten from bitcoin investment especially if you spent the money on something reasonable or for a good course, where the spending will be regrettable is if you spent it waywardly without making account for how it was used. at the same time bitcoin is very volatile, so you dont know what would have been the state of bitcoin if you hadn't spent that money that moment, it could be that after you just withdrew your funds the price falls drastically.

[MainIbem]

Nobody stpps anyone from spending their Bitcoin, it's their money and their choice to use it how they want but I urge people to spend wisely and shouldn't spend their Bitcoin when they're still at the early stage of investment, only those that's held for a circle amd more can sell some portions of the reward they've gotten from investing for years. Even those who's held long enough to be able to sell should still spend it wisely on necessities and not liabilities.

[Finebone]

there is absolutely no need to regret after spending your money gotten from bitcoin investment especially if you spent the money on something reasonable or for a good course, where the spending will be regrettable is if you spent it waywardly without making account for how it was used.

Sharp, wetin you talk here makes sense and I agree with everything you talk her because their is no need crying over a spilt milk, as long as wetin you use the money on is worth it, no need to feel regret, because so many things go spoil if you no use the money for that pressing needs that particular time.

at the same time bitcoin is very volatile, so you dont know what would have been the state of bitcoin if you hadn't spent that money that moment, it could be that after you just withdrew your funds the price falls drastically.

Yes, something like this dy very possible, but I want you to know say e dy both ways, like what if as you withdraw and sell of your bitcoin, the price come rise to $200k ?
So no reason am because it can go both ways.

[HajiBagi]

I know that Bitcoin is good to hold for many years so that it's value will increase very well and you will make a lot of profit. What if you have long term plan on what to do with your Bitcoin like in the next 8 years and it happens that it fall into bear run at that time meaning that price has dip. What will you do, will you go ahead and sell or hold it till the next bull run?

Why I brought this topic up is because I have a friend that has been into Bitcoin investment for many years before I even knew about Bitcoin, clearly he has made a lot of profit from it. In the middle of this year he told me that he was going to buy a car in this December, from his Bitcoin profit. We were very happy about the ATH a few months back and he said that he couldn't wait for December, to buy the car. To my surprise he hasn't bought the car till now, his reason was that price is bellow $100,000. He has postponed the car matter indefinitely till there is a new ATH.

I told my friend that he is greedy that afterall he has made a lot of profit from Bitcoin that he should have bought the car despite the dip. I think that if we have made profit and our long term goal of holding Bitcoin matures we should spend the Bitcoin because it is our money. No need to consider whether it falls into bull run or bear run because we are in already in profit over the years.

From my understanding you are the bad friend here, why are you so worried about him not buying a car? He wanted to buy a car but he did not buy and you think he is greedy, he is the one that own his investment and refuse to sell and you are the one that is angry because he refuses to sell his bitcoin, it shows that you are jealous of him or you want him to sell what he has suffered for many years and you enjoy it with him, that is not how you talk mate.

If you are in his shoes are you going to sell your bitcoin? You don’t know the reason why he did not want to sell, if he don’t want to sell that is not your business, what if he sell his bitcoin and bitcoin rise who will he blame, I will never advise anyone to sell he or her bitcoin because i don’t know what will happen in the future, your friend knows what he is doing that is why he did not sell and I think you want him to sell his bitcoin and spend the money together.

[ejikeme24]

You are right, but nobody should use this as an example for making careless expenses,  when you sell your bitcoin it's important to think of starting a physical business. you can spend your profits on your needs but it's important to use the most part of your profits to invest in other things. it is dangerous to put all your eggs in one basket, making money from bitcoin is an opportunity to expand your source of income. Don't be quick to assume that one investment is okay, also consider the fact that bitcoin price isn't always stable.

These is more like diversification, yeah when your investment is matured enough then you have every right to sell some portion of your investment and then use the profit to invest in other things like business. It is never right to sell your investment at once just because you're in profit unless you don't want to invest in Bitcoin anymore, but so long as you're still interested to continue with your Bitcoin investment it's advised to only sell some portion when you see that you're in profit and then allow it to compound upon itself before looking into selling again so that to avoid selling all your investment and still start all over again.

[Agbe]

One thing I always tell people is to avoid being greedy when investing in bitcoin, always withdraw your profits whenever you hit yout target instead of waiting for it to increase further. I'm not really concerned with how others spend their profits though but my only advice to those investing in bitcoin is to avoid hodling more after hitting your target because it's common knowledge that bitcoin is unstable.

[Sunshine1525]

One thing I always tell people is to avoid being greedy when investing in bitcoin, always withdraw your profits whenever you hit yout target instead of waiting for it to increase further. I'm not really concerned with how others spend their profits though but my only advice to those investing in bitcoin is to avoid hodling more after hitting your target because it's common knowledge that bitcoin is unstable.

I don't see that as being greedy, so guys expect that the OP's friend should sell at lose because he's hit his target? I think the OP's friend did the right thing in trying to wait till the market recovers again before he decides to sell, it's his money afterall and holding more longer is not a bad idea cause he'll still be in profit when the market recovers and probably set a new all time high.

I took my time to learn lots from JayJuanGee's teaching and one thing i learnt is never to sell at lose no matter what, nothing stops the OP from being more patient till the market recovers, he makes more profits and achieve his aim of purchasing a car. I think he's wise enough to wait longer instead of selling cheaply.

[Mayor of ogba]

I know that Bitcoin is good to hold for many years so that it's value will increase very well and you will make a lot of profit. What if you have long term plan on what to do with your Bitcoin like in the next 8 years and it happens that it fall into bear run at that time meaning that price has dip. What will you do, will you go ahead and sell or hold it till the next bull run?

If you are holding your money in bitcoin and it's not for investment purposes, you are very free to spend your bitcoin anytime you want, but if the bitcoin you want to spend is for investment, I don't encourage you to temper your bitcoin meant for investment purposes because it could trigger you to sell of your bitcoin one good day. If you plan to hold your bitcoin for 8 years and it happens that bear market catches up with your holding, don't sell your bitcoin at that time; hold your bitcoin strongly because after bear run comes bull run.

[Gozie51]

I told my friend that he is greedy that afterall he has made a lot of profit from Bitcoin that he should have bought the car despite the dip. I think that if we have made profit and our long term goal of holding Bitcoin matures we should spend the Bitcoin because it is our money. No need to consider whether it falls into bull run or bear run because we are in already in profit over the years.

Many hodlers of bitcoin face this kind of challenge because I will not say it is a problem. The problem is greed. In many aspect of our business life, greed is the debacle. Even in physical life of buying and selling kind of business, if you are greedy, you see that you will lose alot of customers and the business man who understands the secret of turn over or ROI will keep multiplying in the business because he is taking little profit per product or item in a product and when you multiply it by quantity you get better return. So that is exactly how bitcoin also should be seen but many hodlers have been taught of setting a longtime unrealistic goal and even when they have made substantial profit on their investment, they will keep hodling until the bear sets in and dries the profit up. It is not a wise investment in my view when you set a high profit goal and when you have not reach there but profit has already been made, you keep hodling. You are just delaying yourself on your success story 

[Derekfunds]

One thing I always tell people is to avoid being greedy when investing in bitcoin, always withdraw your profits whenever you hit yout target instead of waiting for it to increase further. I'm not really concerned with how others spend their profits though but my only advice to those investing in bitcoin is to avoid hodling more after hitting your target because it's common knowledge that bitcoin is unstable.

Hitting a target in Bitcoin investment is not something one can achieve in small interval of time unless they are into short term investment otherwise known as trading. If you want to take profit in Bitcoin it will be when Bitcoin immediately surge but that's trading and people with this mindset always end up regretting or selling at loss because they won't be patient enough.. Bitcoin is a volatile asset and so sometimes you can hit your target when the price is still down due to its volatile nature and so the best is to keep on accumulating and hold for long so that one can overcome some point.

[ASloveapg]

I know that Bitcoin is good to hold for many years so that it's value will increase very well and you will make a lot of profit. What if you have long term plan on what to do with your Bitcoin like in the next 8 years and it happens that it fall into bear run at that time meaning that price has dip. What will you do, will you go ahead and sell or hold it till the next bull run?

If you are holding your money in bitcoin and it's not for investment purposes, you are very free to spend your bitcoin anytime you want, but if the bitcoin you want to spend is for investment, I don't encourage you to temper your bitcoin meant for investment purposes because it could trigger you to sell of your bitcoin one good day. If you plan to hold your bitcoin for 8 years and it happens that bear market catches up with your holding, don't sell your bitcoin at that time; hold your bitcoin strongly because after bear run comes bull run.

Investing in Bitcoin or depositing some money in Bitcoin, everyone's purpose may be different here, but keeping that money in Bitcoin for daily use is definitely risky, because Bitcoin is inherently unstable, so even if you deposit money in Bitcoin for a short period of time, it can lose its value, because the value can easily decrease due to volatility, and this is why it is best to buy Bitcoin for long-term purposes. If someone enters with a 5-8 year plan at the beginning, then he will have a good chance of achieving something good. The problem is when we do not make short-term decisions with emotions in Bitcoin, we should only think long-term, keep the goal clear, do not change decisions prematurely and survive in the long term.

[fredericktaylor]

One thing I always tell people is to avoid being greedy when investing in bitcoin, always withdraw your profits whenever you hit yout target instead of waiting for it to increase further. I'm not really concerned with how others spend their profits though but my only advice to those investing in bitcoin is to avoid hodling more after hitting your target because it's common knowledge that bitcoin is unstable.

Hitting a target in Bitcoin investment is not something one can achieve in small interval of time unless they are into short term investment otherwise known as trading. If you want to take profit in Bitcoin it will be when Bitcoin immediately surge but that's trading and people with this mindset always end up regretting or selling at loss because they won't be patient enough.. Bitcoin is a volatile asset and so sometimes you can hit your target when the price is still down due to its volatile nature and so the best is to keep on accumulating and hold for long so that one can overcome some point.

It is true that long-term investment is very important to achieve success by investing in Bitcoin, it is not possible to expect success by investing with a short-term plan. If we buy Bitcoin consistently from the beginning by following the right rules and despite the market volatility, relying on our own confidence and holding Bitcoin for the right time, we can gradually expect success. We need to understand that Bitcoin is a long-term investment management, to achieve success by investing patiently and holding long girls, we can gradually reach our goals.

[Somto9Light]

One thing I always tell people is to avoid being greedy when investing in bitcoin, always withdraw your profits whenever you hit yout target instead of waiting for it to increase further. I'm not really concerned with how others spend their profits though but my only advice to those investing in bitcoin is to avoid hodling more after hitting your target because it's common knowledge that bitcoin is unstable.

There's nothing like greed here mate, investors is meant to HODL thier bitcoin for a longer period until thier investment gets matured because saying that we can sell whenever we get to our target could make most newbie Investors to start looking into short term because they might just decide to start selling thier holdings when they have not even gotten to thier accumulation status reason been that  they discover that they are in profit, even though investors would like to sell when it hits their target but first they need to ensure that they have reach their Investment goal or the status of overaccumulation before looking into selling their bitcoin.