Can I really hold onto my bitcoins in the future? - page 2.

DubemIfedigbo001

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Quote from: Davidvictorson on March 27, 2024, 03:48:11 AM

You say you have two months to make a decision,the halving even is in less than two months. You can make you decision to sell after the halving if you haven't gotten any employment then.

I think you shouldn't be in a hurry to sell now, irrespective of the challenges, try getting an odd job to complement your earnings. You've had in your mind that selling your investment is an option to solve your family needs and as such had some level of laxity on your serious job pursuits, knowing fully well that there's a backup somewhere which is your fallback plan. This route I actively discourage you to take.

Its not too late, you can still condition your mind that your holdings isn't an option to solve present needs and strive hard to meet your needs with other positive means necessary, this will work out for you.

I will tell you a short story. A year ago, I was considering relocation from my current place of stay because my IT skills were not very much in demand there. I had a friend which after selling him a software solution for his company, he queried why I intended relocating with the beautiful handwork that I had. I gave him the lame reason mentioned above and he reprimanded me with the following words. "You're the problem because you've not determined to make it here with your talents and intelligence, your considering other options, and if you decide to stay here and give in your best to make it, I'm sure you will". That night I decided that I'll not run away from the problem, but solve it and excel. Today almost 13 months later, I have clients and most of them are from my colleagues who relocated. They direct all their clients to me the last man standing.

You've two months to make a difference and I encourage you to make the decision of not tampering with your coins today and work in that direction, give it your all and nature will comply with the solution to support your decision.

AirtelBuzz

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Quote from: Truthlovecoins on March 27, 2024, 06:53:09 PM

I think it is possible to hold unto your Bitcoin into the future even up to a decade if you may.
I have read posts here that talk about holding or accumulation of Bitcoin for a long time until one decides he/she wants to sell them or withdraw it or invest the Bitcoin to buy other altcoins and shitcoins.
You just have to be more consistent in this forum to learn how to safely do it and the needed tools to attain that goal.

How long a person will hold his invested bitcoins depends on his investment strategy. There are many investors who invest short term and invest long term. But those who are true bitcoin investors and who want to hold a large amount of bitcoins opt for long-term investments.

You mentioned that after reading the posts here, you found out that most investors advise holding Bitcoin for the long term. Yes they are right because if bitcoin investment is not held for a long period of time you will not get proper profit from your investment. Moreover, the more knowledgeable you are about investing, the more profitable you will be in your investment or the more successful you will be.

HajiBagi

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I can't really offer you much advice because it all depends on your current circumstances. You can't hold bitcoin and still be in pain with your family, even though holding onto it will help you because it will grow in value over time. At this point, however, you can sell your bitcoin and use the proceeds to launch a business. You can also use a different strategy by selling some of your bitcoin but not all of it, giving you hope that you will be holding onto it for the future. You made a wise choice as a student by investing in bitcoin, and I think you will now make a lot of profit if you decide to sell it. No matter what happens in life, try to be content before doing anything else.

Since your only source of income is bitcoin, I would advise you to sell it and launch a different business to support your family first. If the new venture is successful and generates income, you can then use that money to invest in bitcoin. As an added bonus, you can use the proceeds to support your family in the future.

Bd officer

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Quote from: MrNata on March 27, 2024, 03:45:28 AM

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I don't know what to do now. Now the bitcoin market has increased a lot, should I sell my bitcoins? I will use it in a small business. Should I be given more time for the job? I have to take a decision in the next two months. Experienced members of the forum give me some advice what should I do.

OP you said you decided to do business by selling bitcoins. Bitcoin halving will happen soon so expect to see Bullran in 2025. If you can hold on to your investment till 2025, you can expect to reap more profits.

Since you will need money for your family needs, it will be better to sell bitcoins for doing business. Now if you have profit in investment then you can start business by selling bitcoins. If you can make a profit from the business in the future, you can invest in Bitcoin again at some point. Now you consider which would be better.

Solokan

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I hope you have to be patient with the situation that befell you and I also hope you get a good job soon.

with your situation of being unemployed for years is certainly not an easy thing to get through and I personally have also experienced being unemployed for years and how it feels to endure the pain of life but usually as long as we try as hard as possible we will get what we want.

op of course you have experience in the btc field even more than me because you have known btc since 2019 i don't think you need to regret because you didn't sell when the price of btc was high because of course the btc halving is only 11 days away and now the price of btc is also rising is in the $71k range.

I think you are still lucky because you invested in BTC and in my opinion, if for example you don't have a job then you can sell a little of your BTC for small business capital and if you have profits from your business and are interested of course you can buy BTC again using a little profit from the results of your small business and finally until you return to having BTC as before sale.

Of course BTC in the future has the potential to be higher in price but of course the decision is in your hands and you know the situation better about yourself and I hope you don't give up and keep up the enthusiasm.

Adbitco

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There is one thing you must know about bitcoin investment and doing small scale business as you wanted if you want to keep monitoring your bitcoin then I will advice to do DCA to increase your bitcoin holding with this you can make more profits, but if you totally think that you have hold upto the maturity level you think you want then you can sell off and put the money into physical business that you want to run for yourself. As popularly said do not put your eggs in one basket because when the market drops more than your expectation it gives you blood pressure you are thinking of selling out your total holding for real life business and there no law that holds you not to sell of your investment if you want, what matter is that you shouldn't sell of and start regretting tomorrow for not holding for years.

Crypto Library

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Quote from: MrNata on March 27, 2024, 03:45:28 AM

<✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂✂> I have two tuitions to support myself but it doesn't work like this, it has become very important for me to help my family. I don't know what to do now. Now the bitcoin market has increased a lot, should I sell my bitcoins? I will use it in a small business. Should I be given more time for the job? I have to take a decision in the next two months. Experienced members of the forum give me some advice what should I do.

You can, If you are not at a loss then I think you should sell your bitcoin and you can start a small business to help your family. And I also think that from 100$ dollar if you wait for one more year then you can make profit likely 2x or 3x even then 300$ is not much thing I think you should start a business if you don't have any other options. If you don't use your funds in an emergency situation, when will you use those funds? For your situation I think holding is not a big deal you should start business I hope you will able to have more holding in future more than current.

fullhdpixel

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Quote from: AakZaki on April 04, 2024, 03:48:29 PM

Don't complicate your life too much with investments that you should use for urgent matters, because one of the goals of investment is to solve problems related to your finances.

That's what most people don't understand when they are making investments in cryptocurrencies. They don't think about the money they are using for their investments because they have heard that Bitcoin and cryptocurrencies generate profit on investments and they rushed to the market to make their investments, but they aren't told the downsides of the market that might not make someone lose money but it can surely make them lose time.

Bitcoin and cryptocurrencies move in a cyclical movement pattern which means there are two sides of the market, one is the bear market and the second one is the bull market. Now people who refer new investors to the market don't tell them these things in detail, so they don't know that their investment can sometimes take years to yield them profit.

CryptoHeadlineNews

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Quote from: MrNata on March 27, 2024, 03:45:28 AM

Now the bitcoin market has increased a lot, should I sell my bitcoins? I will use it in a small business. Should I be given more time for the job? I have to take a decision in the next two months. Experienced members of the forum give me some advice what should I do.

To be frankly speaking, if you can equally live two good complete months without you selling your Bitcoin, then it actually means you don't need this your Bitcoin in other to survive, because if it's just 30% of the $100 you said you were been paid for the part-time job you said you were doing for 3 years that you had invested in Bitcoin, I'm sure by normal calculation, the money would have been roughly $30 x 36 = $1080. And if by virtue this was the amount you had before the recent BTC pump in price this year, then I'm sure you should be having approximately $2000, which is still not bad, if you can use half the money for a little side hustle, why you save the other half for the fourth coming bull round.

Cityhunter34

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Quote from: MrNata on March 27, 2024, 03:45:28 AM

Hello all forum members. I am new to this forum and this is my first post. I have been familiar with Bitcoin since 2019. In 2015, when I entered my Honors first year at university, my family situation was very bad financially. I told my family situation to the head of my university then sir gave me a job opportunity. In the house where Sir lives, he has a neighbor, an old woman lives there. The old woman's children lived abroad and had citizenship there. My job was basically shopping for him, withdrawing money from the bank, basically working as his runner. He paid me $100 a month. I could save $30 dollars a month and put that money in the bank. The old lady died just three months before my honors final exams started. I worked under that old woman for three years and seven months. After completing the final exam, I was not sure what to do with the money, whether to keep it in the bank or not, then a friend of mine told me to invest the money in Bitcoin. I didn't think about it at first but I spent a month browsing the internet about Bitcoin. Later I became interested in Bitcoin. I withdraw my bank money and invest in Bitcoin. I don't know why I didn't sell Bitcoin when it reached its highest price. Currently I am unemployed for three years after completing my studies. I am trying hard to find a job but luck is not helping me. I have two tuitions to support myself but it doesn't work like this, it has become very important for me to help my family. I don't know what to do now. Now the bitcoin market has increased a lot, should I sell my bitcoins? I will use it in a small business. Should I be given more time for the job? I have to take a decision in the next two months. Experienced members of the forum give me some advice what should I do.

For me, I think you should not sell it, because the way Bitcoin is going I think any one that accumulate Bitcoin before now in his portfolio is going to smale at the end, but one thing I see in investment is that before someone could think of investing in Bitcoin,one suppose to have another source of income so that Incase of a any imagency, so that you be can able to manage your self with out touching your investment in your portfolio..

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Quote from: Volimack on April 06, 2024, 02:31:05 AM

You can hold bitcoin for future but one thing to remember is that you can never deal with emergency with bitcoin. Bitcoin long term investment gives good profit to wait for it. Invest according to your financial capacity Don't rely entirely on investments have other sources of income to meet emergencies. It will be easier to protect the funds if you have to invest a fair amount of your income source.

You can hold some of your bitcoin and sell some of them while you are still in search of a decent job, that way, you can be able to help your family since they are struggling economically. Hodling may provide significant profits in the future but know that you can’t completely rely on it for your source of income or for daily survival. Once you hold, that means you won’t touch your bitcoin investment, so invest only on your spare money, not totally your hard-earned funds, otherwise you will struggle more in your finances while waiting for bitcoin price to reach its all time high.

CageMabok

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Quote from: Volimack on April 06, 2024, 02:31:05 AM

You can hold bitcoin for future but one thing to remember is that you can never deal with emergency with bitcoin. Bitcoin long term investment gives good profit to wait for it. Invest according to your financial capacity Don't rely entirely on investments have other sources of income to meet emergencies. It will be easier to protect the funds if you have to invest a fair amount of your income source.

If the emergency situation can still be met with other income or by increasing the amount of income through other work, I don't think this will be difficult enough for those who like to save Bitcoin in the long term by considering it as an investment for the future. The opinion you put forward is also quite reasonable because the goal is to be able to earn other income in order to maintain our own investment in the long term. But emergency situations can always be handled well if someone still has a source of income every month, because we don't have to use all the money we get to buy Bitcoin, although that's not wrong for everyone to do.

Belarge

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Quote from: Volimack on April 06, 2024, 02:31:05 AM

You can hold bitcoin for future but one thing to remember is that you can never deal with emergency with bitcoin. Bitcoin long term investment gives good profit to wait for it. Invest according to your financial capacity Don't rely entirely on investments have other sources of income to meet emergencies. It will be easier to protect the funds if you have to invest a fair amount of your income source.

We don't settle for lesser results, holding bitcoin for longterm shouldn't be a problem for us because what's coming is bigger than the available ones around.nBitcoin is the top ranking project in the space, an easy access to grant huge profits for those category of investors that basically knows how the market operates and they worked accordingly to the available methods available. Bitcoin long-term investment are the necessary solid ground to consider and not some random scalp that's never important or consider useful in the first place.

Volimack

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You can hold bitcoin for future but one thing to remember is that you can never deal with emergency with bitcoin. Bitcoin long term investment gives good profit to wait for it. Invest according to your financial capacity Don't rely entirely on investments have other sources of income to meet emergencies. It will be easier to protect the funds if you have to invest a fair amount of your income source.

SATWAT

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Quote from: |MINER| on April 05, 2024, 05:26:37 PM

The biggest obstacle to holding Bitcoin is going to be these emergency situations. And I think we should invest as much of our funds as we have the ability to lose, be it Bitcoin or some other alternative crypto currency. I will tell you if you are in profit and you need that bitcoin fund to cover your emergency I will not sell you now. I will tell you to sell your fund to cover your emergency situation for now and later invest a certain percentage of your income for long term holding using DCA method.

I agreed about this all with having emergencies mostly ruin savings and many other things which was set just for the better future I am personally having things like these, and now I am not doing anything which create problems for me, so now I am changing my way of saving and investing as well because I have feeling if I will be not able to handle things on better way then surely I can face deep trouble so better now first set things which are more important and then jump into this investing which is also better but still needs just money which is not usable for me in long run otherwise I have face consequences of I already have in my life.

|MINER|

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The biggest obstacle to holding Bitcoin is going to be these emergency situations. And I think we should invest as much of our funds as we have the ability to lose, be it Bitcoin or some other alternative crypto currency. I will tell you if you are in profit and you need that bitcoin fund to cover your emergency I will not sell you now. I will tell you to sell your fund to cover your emergency situation for now and later invest a certain percentage of your income for long term holding using DCA method.

qwertyup23

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Quote from: MrNata on March 27, 2024, 03:45:28 AM

Now the bitcoin market has increased a lot, should I sell my bitcoins? I will use it in a small business. Should I be given more time for the job? I have to take a decision in the next two months. Experienced members of the forum give me some advice what should I do.

BTC halving is coming and if you would base it on its price history, there is a trend that the price may skyrocket after the said halving.

Now, remember that BTC is an investment- meaning, they are money in which you should use if you are financially challenged. If you have BTCs currently, use and convert them to your local currency so you could at least mitigate the problem you are facing.

Quote from: Maslate on April 04, 2024, 07:51:51 PM

Quote from: Iroh on March 31, 2024, 09:36:09 AM

You mentioned you were unemployed at the moment and helping out yourself and your family has become quite difficult. If you’re really in a fix and you’ve got some bitcoin holding, you could sell off some of your assets to get yourself together.
You’ve got to examine your finances; knowing if you could hold off on selling your bitcoins till later on this year. You mentioned you’ve got two months before you take a decision. You could always continue job hunting while holding onto your coins. If the situation doesn’t improve, then you could sell off some of your coins to help pay for yours and the needs of your family.

You are right here. Don’t be too greedy holding your bitcoin when your life is already at mess seeing you struggle a lot in your finances. Prioritize the needs of your family first, and since you still haven’t got a job, then don’t hesitate to sell your bitcoin. You can always reinvest in another time, but you can’t delay the basic needs of your family. So never doubt selling your bitcoin if it will save your problem at the moment.

I definitely agree with your statements.

Again let me reiterate, what is the point of an investment if you are not going to use it when the price matures already? The purpose of an investment is for long-term profit. But if you are struggling financially, then feel free to convert your coins to your local currency. Treat it as your emergency funds/money which should be use for helping you.

Baki202

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Quote from: MrNata on March 27, 2024, 03:45:28 AM

Currently I am unemployed for three years after completing my studies. I am trying hard to find a job but luck is not helping me. I have two tuitions to support myself but it doesn't work like this, it has become very important for me to help my family. I don't know what to do now. Now the bitcoin market has increased a lot, should I sell my bitcoins? I will use it in a small business. Should I be given more time for the job? I have to take a decision in the next two months. Experienced members of the forum give me some advice what should I do.

Jobs are hard to find these days and in countries like ours, after spending too many years in school due to strikes and the rest, your employees still expect you to have work experience, How is that even possible? and it is painful after going to school and not finding a job, If you are the first child, then there are a lot of expectations coming from your parents and your siblings. And if you are asking when to sell your bitcoin, I don't think this is the best place to ask. It is your asset you can decide to sell it when you want to, you don't need anybody's opinion. If you feel you have made a profit, then you can sell and take care of your needs.

Quote from: Belarge on March 31, 2024, 12:31:43 AM

I'll always choose the market over my personal jobs because there's no breakthrough in the real job, only committed to be under some random individuals who doesn't care about your best. We should be given the best advices because we need it to push forward in the system. I've never hold back from providing aides and in sectors I'm acquainted with. OP, you have everything within possession to make advance steps in life. There's no better feeling than been independent in the space, not working or having a boss. I know it's been really way out of plan but we have no choice than to settle for what we're seeing with our very naked eyes.

what the market gives you I don't think any job will give you that except you a politician in my country or a CEO in a big company and even politicians because of their looting, having a job does not prevent anyone from using the market you can use the market as an additional hustle. and if they are given advice we should know the kind of advice we are going with so that we do not follow the wrong advice. and having a job and investing makes a lot of sense because you go out and when you come back from work you focus on the market in the event or when you out relaxing, both of them will not interfere with how you are leaving your life.

Maslate

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Quote from: Iroh on March 31, 2024, 09:36:09 AM

You mentioned you were unemployed at the moment and helping out yourself and your family has become quite difficult. If you’re really in a fix and you’ve got some bitcoin holding, you could sell off some of your assets to get yourself together.
You’ve got to examine your finances; knowing if you could hold off on selling your bitcoins till later on this year. You mentioned you’ve got two months before you take a decision. You could always continue job hunting while holding onto your coins. If the situation doesn’t improve, then you could sell off some of your coins to help pay for yours and the needs of your family.

You are right here. Don’t be too greedy holding your bitcoin when your life is already at mess seeing you struggle a lot in your finances. Prioritize the needs of your family first, and since you still haven’t got a job, then don’t hesitate to sell your bitcoin. You can always reinvest in another time, but you can’t delay the basic needs of your family. So never doubt selling your bitcoin if it will save your problem at the moment.

Kelvinid

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I won't force you OP to hold your Bitcoin forever but rather encourage you to have some trust. Because if you have trust in Bitcoin, it also drives your mind to think positively and eliminates worries in your mind. Don't be like those people who are still uncertain about their decisions and don't be like those people who buy now and sell after a few days after having some price corrections. That kind of action will never have a successful journey but a failure.
Even though can't hold longer at least you are not selling because you are panicking and worried about the incoming. Instead, you sell them because you hit your target price already.

Topic: Can I really hold onto my bitcoins in the future? - page 2. (Read 795 times)