If you have a lot of bitcoin, should you spend it or save it? - page 11.

rickadone

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Quote from: cramcram21 on September 28, 2017, 07:27:40 AM

Quote from: Crapz23 on June 27, 2017, 09:58:10 AM

Let's say I have 2.1 BTC And I don't spend it. Will it go up a few cents if I save it? Cause in my wallet I have up to about 50 cents worth of bitcoin. I started up with 13 cents 7 months ago. Now all of sudden I have bitcoins worth 50 cents. What do you call this? I only made that one 13 cent deposit. Nothing else!

If I have a lot of bitcoin in my wallet I would save it and take some money for my expenses,
I will only cash out the amount of money needed for the time being .

Unless you have a normal job and you are saving part of it once in a while, and spending the rest on some other things needed for your daily stuffs, I see no reason why someone who own a certain amount of bitcoin should not look for ways they can invest it in some legit ways so as to have more for themselves. The proceeds from this can help some few things, while you can still save part of it to increase your asset.

ocid

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I believe bitcoin will continue to increase in value from year to year, if you can keep longer bitcoin you have now then of course you can get a huge profit. it all depends on your belief if you can store bitcoin in a long time, most likely with the nominal bitcoin you have today you can become a billionaire in the future.
let's just say the bitcoin you have as a secret saving is stored in the long run.

syaripudin

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All depends on the needs of each of you if you have excess money you should invest bitcoin you have. but back again sometimes we have other needs so we have to sell some bitcoin to meet our life needs. but it's different with people who do trade to benefit from other cryptoes. and from these two types of activities I think each has its advantages and disadvantages investment has long-term benefits and sales have a short advantage but all still have to go through the process that must be passed of course you will get a failure and I think it can be a lesson for you better again.

redsun114

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Quote from: ReLieD on September 25, 2017, 11:13:14 PM

Quote from: Crapz23 on June 27, 2017, 09:58:10 AM

Let's say I have 2.1 BTC And I don't spend it. Will it go up a few cents if I save it? Cause in my wallet I have up to about 50 cents worth of bitcoin. I started up with 13 cents 7 months ago. Now all of sudden I have bitcoins worth 50 cents. What do you call this? I only made that one 13 cent deposit. Nothing else!

The more btc you will have the more profit you will get if the prices increase. You think yourself , take 2 cases.
First case :- say you have 2 btc and the price of 1 btc is 1k USD . So basically you will own 2k USD . Now lets say that the prices of btc just increased by 2 times (1 btc = 2k USD ). So now you will own 4k USD. (Profit = 2k USD ).
Second case :- say you have 4 btc and let the price be same as before (1k USD) . So now you own 4k USD. Now again , let the price of Bitcoin be taken as 2k USD (double) . So basically you will have 8k USD in your wallet . ( Profit = 4k) .

You see the difference ! This is what I wanted to make you understand. The more Bitcoin you will own the more profit you will get if the prices of Bitcoin increase. And remember same goes for loss

The wiser thing to do in such a situation is that you should probably opt for saving the bitcoins because no matter how much you have in hand at the present time, you would always find them less if they are kept sold to meet your money requirements.

Everyone is hopeful that the BTCs would face an increment in the market value in upcoming years so it is better to wait for the right time rather than spending them and not even able to buy again in later times.

fullhdpixel

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Quote from: Pettuh4 on September 25, 2017, 08:25:31 PM

Quote from: Choii on September 25, 2017, 08:10:55 PM

It's depend of my situation, but for now if i have a lot of bitcoin,(example 10btc) i think the 50% of my bitcoin should i spend it for start my own business and some if my money i'll give it to my family to buy what they want or pay a bill. And the half i think i save it until the price of bitcoin get higher or maybe i'll invest it to increase my income and also trading.

Currently I'd save it since it has started increasing in value and the it stands a chance of gaining more fiat equivalent value and soi will wait until after this hike before I will sell and invest into a business.

I think if I have a lot of Bitcoins, then I’ll divide them into two parts. One major part, I’ll save that part for the future as there is no better way of gaining a huge amount of profit than holding Bitcoins for a long time. Second part, I’ll spend it very carefully in order to meet up daily based needs.

Shutup

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Quote from: Crapz23 on June 27, 2017, 09:58:10 AM

Let's say I have 2.1 BTC And I don't spend it. Will it go up a few cents if I save it? Cause in my wallet I have up to about 50 cents worth of bitcoin. I started up with 13 cents 7 months ago. Now all of sudden I have bitcoins worth 50 cents. What do you call this? I only made that one 13 cent deposit. Nothing else!

If I have a lot of bitcoin I will invest it so that I can save more.Because if I just spend it theres a possibility to lost it all.I'll make sure first to have profit before I will buy things for my family.I want to have the assurance of my kids for their future.

Lomperd1

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Quote from: natsu_koo on September 30, 2017, 04:52:18 PM

Quote from: pooya87 on June 27, 2017, 11:48:32 PM

Quote from: Crapz23 on June 27, 2017, 09:58:10 AM

Let's say I have 2.1 BTC And I don't spend it. Will it go up a few cents if I save it? Cause in my wallet I have up to about 50 cents worth of bitcoin. I started up with 13 cents 7 months ago. Now all of sudden I have bitcoins worth 50 cents. What do you call this? I only made that one 13 cent deposit. Nothing else!

am i the only one that can't make sense of this question at all!
you say you have a lot of bitcoin then you say you have only 2.1BTC and then you continue with saying it is worth 50 cents!

are you sure you are not confusing bitcoin units? 2.1 bitcoin is worth $5200 and if you have this much prices never go up a few cents. you can see from these past few days price went down to $2200 and back up to $2500 that is a $630 change on 2.1BTC!

Its really doesn't make sense bruh. And also the question is already asked by other member of this forum over and over, try to make a new one.

I totally agree with you this question has been asked like a 100 times and people should make new one i don't know why people don't do that because i would love to have new things to talk about.

Cryptojunkiez

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If I myself will save it because the bitcoin price is creeping up and I wait until bitcoin price is right at the highest peak and then I will sell it, but if I was there any need I will use some bitcoin for that purpose, and I can make it Bitcoin as a long-term investment tool that is quite promising, and I can get more results by trading for me to save and I use in the future

camelson

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Quote from: weblouartisan on October 01, 2017, 10:19:15 PM

Quote from: Crapz23 on June 27, 2017, 09:58:10 AM

Let's say I have 2.1 BTC And I don't spend it. Will it go up a few cents if I save it? Cause in my wallet I have up to about 50 cents worth of bitcoin. I started up with 13 cents 7 months ago. Now all of sudden I have bitcoins worth 50 cents. What do you call this? I only made that one 13 cent deposit. Nothing else!

If i have that huge amount of money then probably i would not need to go back to work again and i will spend it till i get old. I will also start a business to get a constant income to sustain my daily needs for the security of my entire family.

Well that seems a nice plan, spending it and starting a business but there is contradiction, how can you run a business and earn a steady income if you do not work. Wink

. You are planing to invest your bitcoin in business which seems a good idea and use your future bitcoin earning to increase the business. Grin

weblouartisan

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Quote from: Crapz23 on June 27, 2017, 09:58:10 AM

Let's say I have 2.1 BTC And I don't spend it. Will it go up a few cents if I save it? Cause in my wallet I have up to about 50 cents worth of bitcoin. I started up with 13 cents 7 months ago. Now all of sudden I have bitcoins worth 50 cents. What do you call this? I only made that one 13 cent deposit. Nothing else!

If i have that huge amount of money then probably i would not need to go back to work again and i will spend it till i get old. I will also start a business to get a constant income to sustain my daily needs for the security of my entire family.

Bit Log

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It will be better if you save the some of it for the future, because we will never know what will happen tomorrow. And use some of it to start a business, so you will be sure that your money will be back at you even you spend it. Making your money circulate, making you money double so you would not worry about tomorrow.

Freyya08

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Its good if you save it first, make some investments for future emergencies and needs. But spending it wouldn't be that bad, especially if you have basic needs. And if you have extra you can also try traveling or whatever you want to do, you also deserve to enjoy the fruit of your labor.

KenChanYu

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Quote from: muhammad-adnanzain on October 01, 2017, 02:02:53 PM

Spend it when we need it, if don't have any need then save it for later. We don't know the fate and bitcoing to where, is it going up or going down. I prefer save it and collect more until time to spend it when i need to spend the bitcoin.

yes i agree it is better to spend it when we are in need or in an emergency.and save the rest of it.for the near future.because every now and then its price can get higher.

muhammad-adnanzain

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Spend it when we need it, if don't have any need then save it for later. We don't know the fate and bitcoing to where, is it going up or going down. I prefer save it and collect more until time to spend it when i need to spend the bitcoin.

arbelian

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Having a lot of bitcoin is a very good investment what i will do if i have so many i will encash some of them so that i could use in my daily expenses and the remaining i would save to be able to gain more profit in the coming years. With saving it i could still expect income coming from the value of bitcoin.

TrueCryptonaire

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I would neither spend the bitcoins nor save them, I would trade them in case of huge market swings. This would be the next strategy for me to increase the amount of bitcoins that I own. Whatever profit I make from trading, I will trade it for cash and will use it for my daily needs. Lending seems also a good way to increase my bitcoin holdings but there are a few risks and disadvantages involved in it, the first problem in it is that I would have to pay a handsome transaction fee for sending to the borrower that will be unaccounted for thus small lending trades would not be possible and in large trades there is a high risk involved which I can't bear.

Merovius

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If by "a lot" you mean really life-changing amounts of bitcoin like six figures or more in USD terms, then I would probably cash out some of it and convert it to other assets like precious metals, certain types of stocks that have "bottomed out" and are poised for major increases, and perhaps even other cryptocurrencies that are less valuable than bitcoin but still have the potential to return greater profits in percentage terms. Of course it doesn't hurt to hold some cash also just in case we have a deflationary collapse or even a natural disaster.

For amounts less than 100k USD, however, I would probably just save it, or "hodl" as they say...since the original poster was talking about amounts of bitcoin worth around 50 cents it would not make much sense to spend or cash out in this case.

Aismabbs

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Quote from: darthmaul on June 27, 2017, 10:22:52 AM

This question is being asked many times on this forum. You can check the answers and most of them will suggest you to save/hold/reinvest your bitcoins for longer times. Now as you stated that you kept 13 cents and it became 50 cents after 7 months or so. Well that change you may find very little but with bigger investments you get bigger returns. Also, you must invest with right time, such as bitcoin price at lower side, this means you will get more bitcoins in less amount spent. Also, when the price increases the same amount of bitcoin will have more dollar value. Thats very easy calculation but basis of how you invest. Household really hold it.

In my own opinion it is depend upon the choice of every person but for me every person has it's own wants and needs and spending money is normal especially when you hard work for it it's necessary that we buy ourselves because it serves as our reward for our hard working but we should know our limits spending money is okay but we let's not forget to save for our future so that we don't regret in the near future.

natsu_koo

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Quote from: pooya87 on June 27, 2017, 11:48:32 PM

Quote from: Crapz23 on June 27, 2017, 09:58:10 AM

Let's say I have 2.1 BTC And I don't spend it. Will it go up a few cents if I save it? Cause in my wallet I have up to about 50 cents worth of bitcoin. I started up with 13 cents 7 months ago. Now all of sudden I have bitcoins worth 50 cents. What do you call this? I only made that one 13 cent deposit. Nothing else!

am i the only one that can't make sense of this question at all!
you say you have a lot of bitcoin then you say you have only 2.1BTC and then you continue with saying it is worth 50 cents!

are you sure you are not confusing bitcoin units? 2.1 bitcoin is worth $5200 and if you have this much prices never go up a few cents. you can see from these past few days price went down to $2200 and back up to $2500 that is a $630 change on 2.1BTC!

Its really doesn't make sense bruh. And also the question is already asked by other member of this forum over and over, try to make a new one.

loty1825

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Quote from: Crapz23 on June 27, 2017, 09:58:10 AM

Let's say I have 2.1 BTC And I don't spend it. Will it go up a few cents if I save it? Cause in my wallet I have up to about 50 cents worth of bitcoin. I started up with 13 cents 7 months ago. Now all of sudden I have bitcoins worth 50 cents. What do you call this? I only made that one 13 cent deposit. Nothing else!

It's always better to hold any cryptocurrency than to spend it. In general the market will go up, so the longer you hold, the more profit you can expect and you will be able to buy more stuff for it. Remember that million dollar pizza guy years ago that bought the first ever pizza with bitcoin. It cost him 10,000 bitcoin if I recall correctly. Today he would be a millionare instead.

I doubt 50 cents worth of bitcoin can make you millionaire anytime in the future, but that's so little money I'm sure you can survive without spending it right now. Just hold it and in a few years time, you might be able to buy at least a pizza.

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