If you have a lot of bitcoin, should you spend it or save it? - page 54.

Mpamaegbu

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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!

Obviously, this is a Newbie question. I guess OP must have realised by now that what happened with his 13cent worth of Bitcoin was appreciation in value. The Bitcoin itself didn't grow. It only appreciated in value. Back to the question: I think it's pointless having an asset and not utilizing it. If I have bitcoins and I am in need of money to solve a problem, it's only sensible I sell off my Bitcoin or some of it to solve my problem.

fullypak

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Quote from: Mr.grin on July 16, 2017, 12:23:16 PM

For now, I spend the bitcoin I have and keep it in altcoin form. Well, I hope so that bitcoin and altcoin prices will rise after August. Various people may now have spent the bitcoin they have, but some still survive by storing it.

Altcoin which alt you are buying means keeping because not all alt price will rise with Bitcoin after August first. I think instead of keeping altcoins you must keep your bitcoins. I don't know that alt price will increase or not but Bitcoin price 100% it will increase. I am keeping my bitcoins not spending for any other work.

Mr.grin

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For now, I spend the bitcoin I have and keep it in altcoin form. Well, I hope so that bitcoin and altcoin prices will rise after August. Various people may now have spent the bitcoin they have, but some still survive by storing it.

kpcian

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I prefer saving Bitcoin for the future purpose, day by day Bitcoin is gaining value so that in the future it will create huge value if I will have some bitcoin.
but if you think about the current situation then you might be discouraged to save bitcoin for the future, but i assure you that that type of situation will not last a long time...
so keep Bitcoin and keep a smile.

swogerino

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If I have a lot of bitcoin I would spend a little amount from them every week , an amount which would not damage my full amount and save the majority of them. Now it is a bad time to spend any bitcoin as the price has plummeted down more than 500 dollars. I would keep the majority of bitcoins as the media is saying bitcoin is creating millionaires from average persons. I am an average person so I hope to be rich thanks to bitcoin one day.

eaLiTy

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Considering the current status of bitcoin,i would sell off my coins and already did when i heard that there will be a split in the network in the future,which means that there will be panic and people will be selling off their coins and the price could dive because of that and my vision was right as we see the market now,i will buy back everything when the price settles down.

Gastotade

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Quote from: albertvert on July 16, 2017, 09:09:58 AM

Quote from: Vishnu.Reang on July 16, 2017, 08:27:54 AM

I should have spent some of the coins when the exchange rates were going at $2,500 - $3,000. But I held on to my coins and now I feel like a complete idiot. It seems like we will witness $1,000 by the end of this month.

May be slightly decreased due to July end .But After August 1 or Second week of August. Price will increase more then 3000 $.Hence you may sell half of bitcoin once reached more 2500$ and later once it reaches 3000$ means you can sell the rest.

That would be good if it can already recover by the month of August, some says it may recover before November or later that month, anyways the fact that it will recover still this year is more than enough for me.

albertvert

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Quote from: Vishnu.Reang on July 16, 2017, 08:27:54 AM

I should have spent some of the coins when the exchange rates were going at $2,500 - $3,000. But I held on to my coins and now I feel like a complete idiot. It seems like we will witness $1,000 by the end of this month.

May be slightly decreased due to July end .But After August 1 or Second week of August. Price will increase more then 3000 $.Hence you may sell half of bitcoin once reached more 2500$ and later once it reaches 3000$ means you can sell the rest.

Vishnu.Reang

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I should have spent some of the coins when the exchange rates were going at $2,500 - $3,000. But I held on to my coins and now I feel like a complete idiot. It seems like we will witness $1,000 by the end of this month.

ilovefeetsmell

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In the situation of bitcoin now, I bet to spend it. Bitcoin will drop down in value next month. I'm so worried about holding my bitcoin for a long term, I think I will encash 3\4 of my bitcoin then the remaining I'll save it whatever happens to bitcoin. I'm getting crazy of thinking about bitcoin price crash down but I still believe in bitcoin that it will recover its price for the better and higher price.

Ronaldcoin2017

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Quote from: Yatsan on July 16, 2017, 03:40:11 AM

I will probably spend some and save the rest because bitcoin is continue growing but if it is now I will sell it all and buy bitcoin after August 1 and then I will save it because bitcoin will be pumping after that event and that is my perspective only through bitcoin and hopefully bitcoin will not crushed because of the segwit.

yes i agree .on you i will do the same thing spend and save the rest.because we really dont know what will be the next yhing happen in bitcoin.if its price will rise it is an advantage because you dont spend all of your bitcoin savings. You must not spend all of your bitcoin saving as a preparation of the next rising of its price .

Yatsan

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I will probably spend some and save the rest because bitcoin is continue growing but if it is now I will sell it all and buy bitcoin after August 1 and then I will save it because bitcoin will be pumping after that event and that is my perspective only through bitcoin and hopefully bitcoin will not crushed because of the segwit.

CARrency

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Quote from: quitstem01 on July 16, 2017, 03:24:23 AM

If I have lots of Bitcoin and not in need of spending it, I would probably save and hold it, just like what others are saying. I will wait for the right time to use it and if its value increased multiple times as its present value.In that way, profit will be assured. We don't need to worry if its value sometimes decreases because it will surely increase again as days passes by.

These is the usual people think now especially when they are new and not experiencing that type of experience, but when the time you have a lot of Bitcoin, you will be more open to new project and coin, or the ICOs. You will be experimenting new ideas how to earn more using you're bitcoins, because you know that if you hold that number of bitcoins, you will be ending up stagnating not improving.

quitstem01

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If I have lots of Bitcoin and not in need of spending it, I would probably save and hold it, just like what others are saying. I will wait for the right time to use it and if its value increased multiple times as its present value.In that way, profit will be assured. We don't need to worry if its value sometimes decreases because it will surely increase again as days passes by.

slackcryptoz

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Quote from: richminded on July 16, 2017, 02:08:51 AM

If i have a lot of bitcoin i will use it right, half of it will use it for my business and the other i will trade it on with bitcoin because i believe investing on bitcon will help me builds my future. I will hold bitcoin until it reach $10k

Majority of the users does the same, because growth with bitcoin is something assured. In between some correction takes place causing price fluctuations in a large scale. Hope this too gets sought as the days of August gets over giving more strength to users to invest big.

richminded

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If i have a lot of bitcoin i will use it right, half of it will use it for my business and the other i will trade it on with bitcoin because i believe investing on bitcon will help me builds my future. I will hold bitcoin until it reach $10k

Beparanf

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Quote from: logicgate on July 15, 2017, 03:13:45 AM

Quote from: coolstory on July 14, 2017, 07:26:56 PM

Quote from: Nathland on July 14, 2017, 06:30:59 AM

I think you should save as many Bitcoins as you can and should not spend your Bitcoins unless you want to invest in some other project. Bitcoin has a great potential and i believe that its price will touch the moon in a few years so hold as much as you can.

I'll wait until 2020 because it's reward halving year for bitcoin. This can change the game really. The mining will be much harder and for mining to conitue, we'll see higher bitcoin prices. So I'm simply holding.

Wow I am proud of your decision that you hold it to till 2020 that is a very good decision for yours and your family bright future, because I am sure in 2020 the price of bitcoin will cross 5000$ dollar and you hold to till it you have a lot of money and I hope you and your family will be enjoy your life with high amount of money .

That is ideal if we have a great amount of money that even we have save in our wallet all those years without using it we will be able to still sustain our everyday life,like we already jave our own house,car and needs. Then probably saving it wpuld be a good decision.

logicgate

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Quote from: coolstory on July 14, 2017, 07:26:56 PM

Quote from: Nathland on July 14, 2017, 06:30:59 AM

I think you should save as many Bitcoins as you can and should not spend your Bitcoins unless you want to invest in some other project. Bitcoin has a great potential and i believe that its price will touch the moon in a few years so hold as much as you can.

I'll wait until 2020 because it's reward halving year for bitcoin. This can change the game really. The mining will be much harder and for mining to conitue, we'll see higher bitcoin prices. So I'm simply holding.

Wow I am proud of your decision that you hold it to till 2020 that is a very good decision for yours and your family bright future, because I am sure in 2020 the price of bitcoin will cross 5000$ dollar and you hold to till it you have a lot of money and I hope you and your family will be enjoy your life with high amount of money .

coolstory

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Quote from: Nathland on July 14, 2017, 06:30:59 AM

I think you should save as many Bitcoins as you can and should not spend your Bitcoins unless you want to invest in some other project. Bitcoin has a great potential and i believe that its price will touch the moon in a few years so hold as much as you can.

I'll wait until 2020 because it's reward halving year for bitcoin. This can change the game really. The mining will be much harder and for mining to conitue, we'll see higher bitcoin prices. So I'm simply holding.

Haesoo

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Quote from: Jewell on July 14, 2017, 05:58:50 PM

Quote from: Nathland on July 14, 2017, 06:30:59 AM

I think you should save as many Bitcoins as you can and should not spend your Bitcoins unless you want to invest in some other project. Bitcoin has a great potential and i believe that its price will touch the moon in a few years so hold as much as you can.

in current position i think hold bitcoin can be the best option, if you have a big amoiunt of bitcoin and you can manage to hold these bitcoin then you should not think about any thing else. holding bitcoin in present time will be the best option.

Yes like you I'm currently holding my bitcoin because for me it's so precious like a diamond.
As holding bitcoin I feel more financially secured as the price is still increasing over time. It's volatility that attracts me to hold more and more of it. Sometimes spending a little of my coins for my pleasure would be fine.

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