Quote from: dantee1 on August 18, 2019, 08:17:09 AM

I got the 2BTC from a business deal around January this year. I knew that Bitcoin was going to bump anytime soon but still went ahead to sell at $3,000+ each. Why did I sell at such a ridiculously low rate when I could have gotten x3 of the value if I waited for few more months?

I was away in Dubai for work while my family were staying back home in my country. They were 100% dependent on me for food and sustenance. Allowing the BTC to sit in my wallet while my family suffers was not an option. So, I decided to sell and solve my immediate problems, to feed and cater for them. Did I make the wrong or right decision?

Well, no doubt I would have gotten $20,000+ if I retained the coin till now, but what if my family died of hunger? Money is as good as the problem it's able to solve. That's the lesson I want everyone to learn this. Very too often, I see people advising not to sell your Bitcoin, that you will gain more if you hold on and sell at later times. While that may be true, you still need to understand that Bitcoin is supposed to be money, not investment asset. It is meant to be spent on daily basis, to solve problems, and to be in constant circulation.

The idea of hoarding Bitcoin and other Cryptocurrencies, waiting to sell at later times for higher returns is the reason Crypto is slow to adoption in mainstream transactions. Anyone who gets it try to hold on to it, as long as possible, thereby depriving the market the needed circulation to keep the currency viable and acceptable.

I once heard of a man who had Bitcoin and was sick. People advised him to sell and get the needed cure but he decided to endure the sickness and wait until the price goes up. He died of the illness and the Bitcoin was rendered useless, with no one having access to it.

Have you ever sold your BTC at low rate and it later bumped and you were regretting...?

Just understand that there is hardly a better time to sell your Bitcoin. Anytime you sell (at any amount) is a better time, provided you use the money wisely.

I'm a breadwinner also and I know where you're coming from. 1st quarter of 2018, I have more than $20,000 worth of coins. My grandmother got sick and my auntie lost most of her savings due to a failed business. They are the ones who raised me and my siblings when I was young because my mother had a mental sickness and my father is one of those what I called "SPERM DONOR". As a sign of indebtedness to my auntie and grandmother, I decided to sell my coins eventhough I knew that it can reach a higher value in the future. For some people, they might think that it was a wrong decision but for people like us, it was one of the best decisions we ever made. There is nothng more happier for us breadwinner for the joy and satisfaction that we can provide for our family and loved ones. We can always gain money but feeling that we provide happiness to our family is priceless. I salute you for what you did!