bitcoin benefit of saving for a long time? - page 137.

batang_bitcoin

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Quote from: CyberKuro on March 12, 2017, 04:47:21 AM

Quote from: batang_bitcoin on March 12, 2017, 04:40:50 AM

Quote from: CROYA86 on March 11, 2017, 05:10:16 AM

why so many people store their bitcoin in their wallet for a long time, whether the benefits will they get?

Come share your thoughts

Because if you will look at the charts of history of bitcoin. You will see the positive progress of it with its ups and down, in the end the price keeps on increasing. That's why if you bought bitcoin at $1,000 then you did nothing but hold it and the price reached $1,500 then you got $500 profit.

So far so good for bitcoin growing up since the first time until now, that's why people tend to save bitcoin and expect for profits in the future. But, who knows with absolute certainty in the next 2 years the price will increase more than what we have in this year? Well, people just guessing by compare with the potential and current market conditions.

Well most of the bitcoin experts believe that bitcoin will be on a single destination on flying up to the moon. And many are believing that after a year or two the price will be higher or kind of $2,000 already. So that's why the benefit of bitcoin is really a good thing if you will make it as a long term investment, very profitable.

gandame

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Quote from: CROYA86 on March 11, 2017, 05:10:16 AM

why so many people store their bitcoin in their wallet for a long time, whether the benefits will they get?

Come share your thoughts

Maybe they hold it for a reason like they want it to invest in long run waiting that bitcoin fulfill the higher level before they sell it. Because we know bitcoin can reach super higher price. If i have many bitcoin also i will keep it until my desire price come.

pitham1

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If you have idle coins, you can also consider running joinmarket.
https://bitcointalksearch.org/topic/ann-joinmarket-coinjoin-that-people-will-actually-use-919116
You will make a small profit from your coins and you will benefit from Bitcoin's upside as well.

CyberKuro

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Quote from: batang_bitcoin on March 12, 2017, 04:40:50 AM

Quote from: CROYA86 on March 11, 2017, 05:10:16 AM

why so many people store their bitcoin in their wallet for a long time, whether the benefits will they get?

Come share your thoughts

Because if you will look at the charts of history of bitcoin. You will see the positive progress of it with its ups and down, in the end the price keeps on increasing. That's why if you bought bitcoin at $1,000 then you did nothing but hold it and the price reached $1,500 then you got $500 profit.

So far so good for bitcoin growing up since the first time until now, that's why people tend to save bitcoin and expect for profits in the future. But, who knows with absolute certainty in the next 2 years the price will increase more than what we have in this year? Well, people just guessing by compare with the potential and current market conditions.

danherbias07

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Leading Crypto Sports Betting & Casino Platform

Its an easy answer. It is the hope that bitcoin will rise more at the future.
Though some have another reason. I use my bitcoin wallet for prepaid loading purposes. Thanks to the 10 percent rebate I can profit more while waiting for bitcoin to go up.
Also my emergency money whenever I dont have cash left in my wallet. All I need is my phone which is always with me and an internet.

batang_bitcoin

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Quote from: CROYA86 on March 11, 2017, 05:10:16 AM

why so many people store their bitcoin in their wallet for a long time, whether the benefits will they get?

Come share your thoughts

Because if you will look at the charts of history of bitcoin. You will see the positive progress of it with its ups and down, in the end the price keeps on increasing. That's why if you bought bitcoin at $1,000 then you did nothing but hold it and the price reached $1,500 then you got $500 profit.

DoublerHunter

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Quote from: Hazir on March 12, 2017, 01:49:39 AM

Bitcoin is viewed by many as the best investment of our generation. Something that is still accessible for average Joe and is better than any other investment option.

Do you really need any more incentives that this?

Naysayers may argue that Bitcoin is no good because is is extremely volatile and price if fluctuating all the time.
Well, just take a look at historical price charts. Sure there is a fluctuation, but bitcoin's position is stronger with every passing year.

Bitcoin is not the best investment of our generation but as of now? Yes we can say that but in terms of legit long term like 20 years or more then bitcoin is not the best because it is not stable and its price is very volatile and it can be dump anytime because there is a lot of people who got bitcoins at the early age of it so they can dump their coins and that is the down side for bitcoin so we can't comfortably say that bitcoin is the best.

Hazir

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Bitcoin is viewed by many as the best investment of our generation. Something that is still accessible for average Joe and is better than any other investment option.

Do you really need any more incentives that this?

Naysayers may argue that Bitcoin is no good because is is extremely volatile and price if fluctuating all the time.
Well, just take a look at historical price charts. Sure there is a fluctuation, but bitcoin's position is stronger with every passing year.

Amph

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Quote from: Ferris419 on March 11, 2017, 04:55:57 PM

Quote from: aardvark15 on March 11, 2017, 04:24:04 PM

Quote from: CROYA86 on March 11, 2017, 05:10:16 AM

why so many people store their bitcoin in their wallet for a long time, whether the benefits will they get?

Come share your thoughts

Most of us think that there is potential for a long term gain in value for Bitcoin. We're less than 10 years into it's existence, so I think there is an upside to it but there is a risk as well.

Holding bitcoins for a very long term can be really risky as we don't know what will be the price in future or how long it will exist so its better to sell them when its allowing you to make profits and buy them back when price goes down and saving them for certain level of time is a right thing but not permanently.

that is a common misconception, bitcoin has the same chance to collapse as any bank out there or the whole fiat economy, which is more at risk to collapse than bitcoin, currently

the idea that nothing is safe apply to everything and has not greater value on bitcoin, bitcoin value is also backed by miners, not for any reason the price is increasing within each halving...

in conclusion i see no higher risk holding bitcoin than holding my fiat in bank account...while the potential to grow for bitcoin far exceed anything else

Sled

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The only benefit for me in saving bitcoin for a long time is you can get the highest chance of earning a lot of money because based on the candlestick charts the price can go to its highest peak in just after a few months or years so if you have a lot of patience and you are doing long term savings or investment then you can get that chance to get big profits by just doing nothing.

sevendust777

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Other people store bitcoin for a long time because of its fluctuating price. As we can notice bitcoin price is increasing its price thats why other people still hold the btc in their wallet for a longest time just to earn profit. Atleast that they could earn for what they save in their wallet.

pooya87

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Quote from: CROYA86 on March 11, 2017, 05:10:16 AM

why so many people store their bitcoin in their wallet for a long time, whether the benefits will they get?

Come share your thoughts

when storing bitcoin in your wallet for long time and not doing anything else with them, you can only get one benefit and that is the profit you gain from the price rising.
for example i bought a lot of coins when bitcoin price was $220 and so much more when it went down to $180 for 1 minute back then.
and as you can see i have made a considerable amount of profit because price is $1100+ these days. and it is the simplest way to make profit. so most people choose this way.

but if you can, it is best to do something with the coins, for example investing them in something, it can be your own business or someone else, or even trading to make some more profit on top of the coins you already have.

Gaaara

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Quote from: CROYA86 on March 11, 2017, 05:10:16 AM

why so many people store their bitcoin in their wallet for a long time, whether the benefits will they get?

Come share your thoughts

They storing bitcoin for their savings and it benifits them too, because of unstable bitcoin price they're storing to get some profit without doing anything but saving. On the other hand it might be risky as well, like what happen just this past days, bitcoin price goes down from 1200+ to 1000+ after the ETF been disapproved.

dimonstration

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Quote from: CROYA86 on March 11, 2017, 05:10:16 AM

why so many people store their bitcoin in their wallet for a long time, whether the benefits will they get?

Come share your thoughts

If you are one of the early adoptor of BTC you already experienced it now,it's already proven that saving it will benefit in long term if BTC will still continue to increase the price all of us now will be benefit too if we save it .

cpfreeplz

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Obviously the benefit is that they're going up a lot over time. I got into bitcoins in 2015 so I've never been through a huge dump. I hang onto coins because I always think of it as "if I spend these today, next months they'll be worth 120% of what I just spent. Am I getting a good enough deal on this? No?" Then I keep them. Forever.

n691309

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Quote from: CROYA86 on March 11, 2017, 05:10:16 AM

why so many people store their bitcoin in their wallet for a long time, whether the benefits will they get?

Come share your thoughts

In general, if all people only store their bitcoins then the bitcoin will be useless because nobody would be used it, but no, storing bitcoin can be good but also can be bad, depending on which perspective we see it. For example someone who bought bitcoin in 2011 can be very lucky if he had saved his bitcoin until now and this is one of the reason why we prefer to not spend our bitcoin because we hope that one day the price will be higher than now.

Ferris419

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Quote from: aardvark15 on March 11, 2017, 04:24:04 PM

Quote from: CROYA86 on March 11, 2017, 05:10:16 AM

why so many people store their bitcoin in their wallet for a long time, whether the benefits will they get?

Come share your thoughts

Most of us think that there is potential for a long term gain in value for Bitcoin. We're less than 10 years into it's existence, so I think there is an upside to it but there is a risk as well.

Holding bitcoins for a very long term can be really risky as we don't know what will be the price in future or how long it will exist so its better to sell them when its allowing you to make profits and buy them back when price goes down and saving them for certain level of time is a right thing but not permanently.

aardvark15

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Quote from: CROYA86 on March 11, 2017, 05:10:16 AM

why so many people store their bitcoin in their wallet for a long time, whether the benefits will they get?

Come share your thoughts

Most of us think that there is potential for a long term gain in value for Bitcoin. We're less than 10 years into it's existence, so I think there is an upside to it but there is a risk as well.

Mikellev

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Quote from: bamboylee on March 11, 2017, 03:45:40 PM

They are speculating that the price of bitcoin is going to the moon in the future.it can be true. The early adopters have great profit when they hold their bitcoin only costing cents before and now it's 1100+ .others are expecting that the same will happen in the future for them.

Yes, Indeed as per my projection it will reach 2000 by end of 2019, saving could be a good idea, again in this world one thing which is constant "change" so understanding about the fact that saving only cannot be the best idea, once you have sufficient knowledge about the btc investing and getting benefit from it will be the best option. Playing safe is a good option but it will not take to higher peak which most of the people expect or everyone expects.

Twipple

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Quote from: Idrisu on March 11, 2017, 02:45:10 PM

I am storing bitcoin in my wallet as a saving. Though am thinking of investment part of my saving to leverage and margin trading in other to make profit. I believe some store bitcoin in their wallet for fun, as a retirement benefits and for raining days. People that are involved in trading also do buy and hold bitcoin in their wallet in other to sell it when the price increases.

At some point of time we all tend to do that i mean saving bitcoin in hope that we will sell it when it reaches the peak but when the BTC value reaches it's peak we don't sell as we want to gain more profit assuming that it will go much higher and a small drop in price we end up selling all the stored coins only to regret after couple of months when the value almost doubles.

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