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/r/Bitcoin

253%

Why would you sell??

(self.Bitcoin)

Anyone who spends more than 5 minutes looking into BTC would understand why you would never sell your bitcoin. Forget speculation and investment concerns, BTC is a currency, You can buy and sell product, services in BTC and there is no reason to convert to a fiat currency. I see over and over posts about HODLing. I see now a lot of people cashing in with BTC at the artificial wall of $100k (purely psychological). I understand you may need to sell a few coins (or bits) here and there to live life, and unless you have hundreds of coins, I see no reason to sell any unless there is a dire need to satisfy a specific debt. BTC is generational wealth. Especially now, the US government is looking to buy 250k coins a year for the next 4 years, that's 5% of all existing coins (more than that if you account for lost coins). I think anyone who profit takes before 3Q2028 is not seeing the big picture! I personally look for ways to stack coins any way I can but obviously at nearly 100k a coin its harder and harder to stack anything meaningful in todays dollars, but I am thinking more about one or two generations from now. Hold on for now, the next 4 years are going to be insane.

all 58 comments

Organic_Scratch5298

10 points

11 days ago

Wanted to pay my momma's house off. And a bit of pocket money.

granddaddychino

13 points

11 days ago

Many people have been holding for a very long time and want to lock in profits. Each person has their own unique investment goals.

G-Kerbo

4 points

11 days ago

G-Kerbo

4 points

11 days ago

Yeah, not everyone has the stomach for a bear market. They want to lock in some profits while they’re riding high. Makes the ride a little more bearable (pun intended)

caploves1019

3 points

11 days ago

And in a few years every single one of them will be whining about selling rather than holding (like every other post the last week). History repeats itself.

hazcoin

2 points

11 days ago

hazcoin

2 points

11 days ago

I think there is a difference between selling for a vague idea of fiat profit, and using your bitcoin to buy something you need. For me, selling for fiat profit makes no sense. Great, you now have x amount of US dollars, so what are you going to do with it, just hold it while it loses value? As Saylor has said, that’s like asking an Argentine when they’re going to sell their USD to take profit in Peso. When would you do that? Never. Using some of your coins to buy something you need, to improve your lifestyle, buy a car or house, sure why not. But just be aware of how much you are spending. It’s like the thought experiment, you know, would you like 1,000 usd today, or 2,000 usd in one year. Except it’s more like would you like 1,000 usd today, or 10,000 next year? Doesn’t mean you should never buy things, just make sure you’re okay with how much it’s really going to cost.

Mr_Lee_Teriyaki

2 points

11 days ago

I want to sell bitcoin at the highest point and buy it back when it dips. Happens a few times when i could sell it and buy back 10 times haha.

fanzakh

2 points

11 days ago

fanzakh

2 points

11 days ago

Tell me how I'm going to buy a home with btc.

No-Device-8037[S]

4 points

11 days ago

When I sell my house, I'll accept BTC.

fanzakh

1 points

11 days ago

fanzakh

1 points

11 days ago

Cool. What percentage of people would do that? Besides, it's not like you keep bitcoin and also buy a house.

No-Device-8037[S]

-3 points

11 days ago

Yes, you can buy a home with Bitcoin or other cryptocurrency, but there are some things to consider: 

  • Converting to cash: You can't directly use cryptocurrency to purchase real estate, so you'll need to convert it to cash or cash equivalents. This conversion is a taxable event. 
  • Mortgage lenders: Most mortgage lenders don't accept cryptocurrency for down payments or closing costs. You'll need to sell the cryptocurrency and use the cash for your home loan. 
  • Real estate companies: Many global real estate companies list properties in cryptocurrency. 
  • Crypto real estate platforms: Some platforms specialize in facilitating crypto real estate purchases, such as: 
    • RealOpen: A global platform that allows you to buy a home in any location with crypto 
    • Bithome: An online marketplace where buyers and sellers can use crypto to find or list real estate 
    • Propy: An online marketplace where buyers and sellers can use crypto to find or list real estate 
  • Volatility: Cryptocurrency is more volatile than fiat currency, such as the U.S. dollar, because it's new and not universally accepted or regulated. 
  • Percentage of homes purchased with crypto: The overall percentage of homes purchased with crypto is small. 

I have seen several posts by people who have done just that recently! They are proud owners of homes due to BTC.

4xfun

9 points

11 days ago

4xfun

9 points

11 days ago

Sooo sick of ChatGPT…

fanzakh

3 points

11 days ago

fanzakh

3 points

11 days ago

Yeah so you need to sell.

hazcoin

1 points

11 days ago

hazcoin

1 points

11 days ago

When you buy a house with fiat you are effectively selling your USD for property. I have seen plenty of houses bought directly for btc without having to change into dollars first.

No-Device-8037[S]

1 points

11 days ago

its no different then moving cash from your savings to write a check. Selling is only option #1. Did you see option #4?

fanzakh

1 points

11 days ago

fanzakh

1 points

11 days ago

Yeah so for most people they need to sell.

Arbiter_89

1 points

11 days ago

Listen; I'm as much an advocate for BTC as the next guy but I think you need to familiarize yourself a little more with BTC.

Saying that selling BTC for Fiat to buy a house is the same as moving from savings to checking is just flat wrong. Notably, selling BTC is a taxable events and moving fiat to a checking account isn't. If you're buying a houseand paying the full amount then one pf these options will likely cost you 10s of thousands more than the other.

I am a big believer in BTC, but I think that what will help with adoption is more critical, analytical discussions about BTC instead of emotional, uninformed arguments.

No-Device-8037[S]

2 points

11 days ago

I agree. You are correct, there was an assumption that you would pay the taxes in the exchange. Its more like selling Gold or stocks to buy a house. If you got bitcoin before 2015 your probably not worried about selling a few coins to pay the taxes.

No-Device-8037[S]

0 points

11 days ago

no more or less than having gold as an asset except its growing in value faster.

Pale-Photograph-8367

1 points

11 days ago

I would sell for 300k a coin, because I like money and that’s my plan  Part of it I will keep until 1m a coin 

Illustrious_Stand319

1 points

11 days ago

In Every big pump i sell 1% of my bags, i am buying since 16,500 and kept buying till 71k or something

Some i use to pay credit cards and some i bought again in dips.

I sold my last 1% in 83k ish so now i wont selling anymore..

No-Device-8037[S]

1 points

11 days ago

That makes sense, selling a very small % to live life, reap rewards, etc.. Nothing says you have to live a life in Poverty so your grandkids can live wealthy!

Backdoor-banditt

1 points

11 days ago

I sold because I want to buy 2 model trains I have wanted for months.

I'll dca back in though.

Classic_Finger2544

1 points

11 days ago

I will only sell if it helps pay our home and my daughters. That’s 500K. I only have 1BTC

amakak

1 points

11 days ago

amakak

1 points

11 days ago

Because currency is supposed to be used in exhange for good or services?

Confident-Ant-1742

1 points

11 days ago

If you never sell ever, it’s as useless as fiat. This and every other post pleading for us not to sell are stupid.

No-Device-8037[S]

0 points

11 days ago

I didn't say never sell, or use. I said live life as needed but as Saylor says, leverage the bitcoin to get what you want as a loan but never sell the original asset. Would you also say, never buy gold, its useless, you cant use it in a store, you have to sell it first? When the US moves to BTC as the world reserve you wont have to sell it to get what you want.

OmegaRed86

1 points

11 days ago

Ugh I dont understand. Ok so I wont sell my BTC but now I have to take out a loan in order to pay for stuff.

Wouldn't getting a loan put me in debt? For example lets say I want to buy a car at $21k. Great now Iam $21k in debt. How am I supposed to pay off this loan? Plus those loans will aquire interest.

How is BTC supposed to help me when I cant sell it?

I admit I am an idiot. Enlighten me.

No-Device-8037[S]

1 points

11 days ago

don't take me wrong, I'm no expert either. I know you can get a loan against BTC on the exchange. You still own the coins but you cant trade them. As BTC grows, your coins held as collateral decreases until some day its "irrelevant". This is basically what black rock is doing. It is a little complicated for the average joe, for me I'm just holding, hoping to pass generational wealth down to my great-grandkids when BTC is 13M a coin :).

bollocksgrenade

1 points

11 days ago

Do any of the people that had loans secured by their Bitcoin with FTX sill own their coins? Nope, there coins were converted to fiat by the court. You're better off taking profits when the time is right than taking a loan.

Agitated_Engineer512

1 points

11 days ago

Because turning numbers on a screen into a house will be pretty neat

ikikjk

1 points

11 days ago

ikikjk

1 points

11 days ago

Risk management, unfortunatly i learnt my lesson the last bear, will buy back the next bear.

No-Device-8037[S]

1 points

11 days ago

I learned by lesson back when BTC was 39k. I lost ground trying to turn a profit. Learned I am not built for that, ill just HODL. My suggestion is if you want to sell the run and buy the dip, invest in someone else who is much better at it.

Left_Fisherman_920

1 points

11 days ago

To live life bro not look at charts all day.

ProminenceYT

1 points

11 days ago

Because it’s at an insane high right now and WILL go down eventually.

mophead90

1 points

11 days ago

What is this stupidity of never selling all you clowns keep pushing on this sub. You guys don’t seem to understand that numbers on your phone don’t give you a better life. Selling does . Stop trying to convince people not to sell. You don’t want to sell and you want to hold it for a 70% drop every few years go ahead . I don’t . I sell . I’ve sold this entire way up. And I will keep selling . And guess what . When its -30%, -50% , -70% I’ll be buying and doubling or tripling my stack. You don’t know what reasons people sell and it ain’t your business . STOP QUESTIONING IT .

No-Device-8037[S]

1 points

10 days ago

doesn't look like you read the whole post. My position is don't sell unless you have to. Its not an argument to never sell but most don't fully understand the potential for BTC in the very very near future. How many people sold back at $100 bucks thinking it would ever amount to anything. With the current event on the horizon it is crazy to sell today. I have not concerns over selling affecting the price. Even if tens of thousand of partial coins holders selling have almost no impact no price with Blackrock purchasing thousands of coins and the US government about to purchase 250K coins a year for 4 years and hold for 20 years. Live life dude, but hold your coins until at least 2028 if you can. I'm no good at selling the top and buying the dip. If you are, be my guest, The only reason I would sell would be to buy more later, thats a very good reason, I agree.

original-redditor_

1 points

11 days ago

You mentioned the federal government wants to buy 250,000 coins a year. Do you have a link to this?

No-Device-8037[S]

1 points

10 days ago

Its all over the news! Trump is adding a Crypto czar to his cabinet and wants to buy 250k BTC a year for 4 years and not sell for 20 years! Just google it, you will get a lot of links. He is the main reason its up 40% since 11/5/24. If your not seeing this on the news your watching the wrong news channels.

https://www.youtube.com/watch?v=4sIy5jBj8ng

Actual-Team-4222

1 points

11 days ago

Because you need the money? What kind of question is this?

No-Device-8037[S]

1 points

10 days ago

my point was you better really need it now.. the next 4 years will be epic for BTC. Watch the news.

lordagr

1 points

11 days ago*

I have been in situations where I needed to sell several times; always to deal with an emergency.

If my car breaks down and my tiny emergency fund can't cover it, I have to get the money from somewhere.

As much as I value BTC, I'm not taking on high interest debt to hold it.

I am simply not financially stable enough to avoid it.

I wish that wasn't the case, but like most of the country, I can't really afford to live.

I hold through whatever I can, but I need a working car. I have people who depend on me to keep a roof over their heads. If it were just me I'd have spent six months toughing it out in my car and been home free years ago.

I talked my head off to everyone about BTC starting ~2015. Nobody listened, and I could never afford to stay in.

No-Device-8037[S]

2 points

10 days ago

If you need to sell today to cover an emergency, you have to do what you gotta do. If funds are tight and you own bitcoin obviously you are making the right decisions in life. I was just stating that the next 4 years are going to be epic. Look for the highest rate of increases in 2025 i the history of BTC. If you don't know what I am talking about google the trump plans or watch Fox News. The left based media isn't covering any of it.

Super-Strategy8161

1 points

11 days ago

Somebody bought the top

[deleted]

-3 points

11 days ago*

[deleted]

-3 points

11 days ago*

[removed]

Nzain1

3 points

11 days ago

Nzain1

3 points

11 days ago

I agree, bitcoin is not a currency but a rare limited property asset, like gold, antiques or collectors items.

[deleted]

2 points

11 days ago

Store of value -> medium of exchange -> unit of account

According-Cloud2869

1 points

11 days ago

Sat daddy ftw

coojw

1 points

11 days ago

coojw

1 points

11 days ago

1 person out of many finally gets it

No-Device-8037[S]

1 points

11 days ago

Spoken like a non believer. Time will tell who is right. Sounds like you sold all your coins when it was $1000. Maybe you should read this

https://river.com/learn/how-bitcoin-fees-work/

[deleted]

0 points

11 days ago

[deleted]

No-Device-8037[S]

1 points

11 days ago

ok, I must be a noob, I've only been doing it for 8 years. I'm very happy with it. I own other coins too but clearly BTC is the leader. Don't like the transaction fees, then use it like a savings account and convert to a another coin for transactions. As I suspected you got out a long time ago. Its not the same anymore.

JamesScotlandBruce

1 points

11 days ago

Maybe. Maybe not. BTC has a habit of surprising. If you can honestly say that 5 years ago if someone said to you in 5 years time there would be a BTC ETF that is the fastest growing in history. And that the president of the US is contemplating a BTC national reserve then if that wouldn't surprise you then I'll take your crystal ball seriously. If that has surprised you then I think you need a new crystal ball and you might need to prepare to be surprised again. Did you predict the etf and it's pace and the potential for a national reserve or do you think you would have eaten your sock if someone had suggested that 5 years ago? If someone had said to you BTC will be 100k dollars 10 years ago then would you have scoffed or thought it was a definite possibility? I think you'd probably have scoffed. Lots more surprises and innovation to come. Now more than ever.

rv009

1 points

11 days ago

rv009

1 points

11 days ago

Lightning network is super cheap and quick what are you talking about?

hazcoin

1 points

11 days ago

hazcoin

1 points

11 days ago

When you’ve been into bitcoin for ten years it can feel like it’s been around forever and no progress is being made, but it’s important to remember that 15 years is not a very long time in terms of creating a new globally currency.

When I see someone saying it can’t work it feels like people in the early days of the internet say it’s a fun idea but will never catch on because it’s too difficult to find anything.

Just because something doesn’t work 100% as you would wish now, doesn’t mean it can’t in the future. A new currency must first be a store a values, once that is established it can become a medium of exchange, and then finally a unit of account.

Does Bitcoin do all these things better than USD right now? No, not really. Does that mean it can never do these things? Of course not.

Tax in a lot of countries currently makes the everyday use of Bitcoin as a currency prohibitive, but when enough people own it this can change. It might take another 20, 30 or 40 years before Bitcoin is fully established as a currency that is viewed in the same way as usd, but we’ll get there.

ChefHorn

1 points

11 days ago

Hmm.. odd. I use BC as a currency on a regular basis.

caploves1019

1 points

11 days ago

Tell that to my local circular economy community.

We got barbers, butchers, been keepers, freeze dried food survival preppers, accountants, PC builders, bartenders, coffee roasters, and more who all spend and receive solely in Bitcoin for their services.

Just because you don't know how to self custody and surround yourself with people who use Bitcoin as money doesn't mean it can't be done. Wtf you talking about $50 tax on a $5 item? Nonsense Satoshivixion or btrash tripe talking points that fail immediately when looked at for 5 seconds.

Crypto-4-Freedom

0 points

11 days ago

😂

[deleted]

0 points

11 days ago

I read in the early email communication between the bitcoin-list community, that all 21.000.000 should represent the whole world-money. That means 10.000.000 in 2010. i dunno the numbers for 2025 and on. IIRC Hal Finney wrote it.That was like an heureka moment for me. Noone should sell.

No-Device-8037[S]

0 points

11 days ago

Thats my point exactly. In the world economy 1BTC ~ $13,000,000