If you have a lot of bitcoin, should you spend it or save it? - page 55.

klf

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Quote from: ruskytailz02 on July 14, 2017, 08:54:59 AM

I'm not quite good at this yet but my classmate earns until he earn a 3digit number of BTC and he'll sell it at high cost. Hence, earn more than sell it earlier. xD

You shouldn't set a limit very high for yourself because we all are very greedy and never satisfied with what we have in hand. I think we definitely need to save money for the long term but not by sacrificing your current life style. So you should save more and spend some now also and enjoy your life.

Jewell

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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.

in current position i think hold bitcoin can be the best option, if you have a big amount of bitcoin and you can manage to hold these bitcoin then you should not think about any thing else. holding bitcoin in present time can save you from losing money. i think those people who are good in decision taking and can really take strong decision and will decide to hold bitcoin tell the price reach to its all time high price.

ruskytailz02

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I'm not quite good at this yet but my classmate earns until he earn a 3digit number of BTC and he'll sell it at high cost. Hence, earn more than sell it earlier. xD

Schuyler

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Quote from: webtricks on June 27, 2017, 12:12:01 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!

You should not have asked in such zig-zag manner. As far as to me, your question is regarding whether to hold Bitcoin or spend it.
This question have been answered many times. All depends upon your needs. If Bitcoin is your only source of income then you have to neglect investment aspect and spend it more often. But if Bitcoin is your compliment earning then surely should save it who knows your 50 cents turn 50 dollars tomorrow.

Yes,you're right. This kind of question always asked and answered on this forum. He knew the answer to his question. But still,i want to answer it. Personally, I will hold it for a long time and I want to save it unless I have an emergency and many more reasons or use for me to spend.

Nathland

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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.

Dudeperfect

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We should ask a question to our selves that why Bitcoin is valuable today? It's because of them who spent their holdings in last few years when Bitcoin was nothing and it gained value over the time. It is the collective efforts of those early adopters who chosen to spend their holdings instead of holding. I am of the opinion that we should also contribute to the network by spending some of our holdings to make it even more valuable.

Hotel_Prodeo

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I will hold and will add more in many ways, the easiest way is to buy a bitcoin, since I buy bitcoin, I've always been lucky and never losers, this is because this is the era of cryptocurrency.

bluefirecorp

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Quote from: Mapagmahal on July 11, 2017, 06:58:08 PM

Quote from: Seeker01 on July 11, 2017, 06:22:39 PM

Quote from: malikusama on July 11, 2017, 05:24:48 PM

Well if i have a lot of bitcoins i will hold 50% of them for future and will spend other 50% on other business by changing it into fiat. Because I believe that investing your all savings at one place is not a good idea, to minimize the risk of loss we should invest it in different business areas.

This is a great idea, its right not to put all your eggs in one basket i mean diversification is an ideal thing for investments it will allow you to lessen the risk and increase the possible profit. If have a lot of btc i will do the same for me to maintain some of my profit and for me to make more money.

This is a golden rule in investing not to put all your money in one investment to avoid such incident like investment loss. I myself is doing this strategy because i don't want all my funds to get lost when some bad things happen. Saving your bitcoin in different areas or different investment will likely give you more profit but it depends where you put your money. For now, Saving is the real key until you meet your desire selling point.

Bitcoin is more than just a currency. It can be supported due to the fact that it has made many millionaires even some billionaires. While investing, a little patience is required to get profit out of any investment. Similarly when talking about bitcoin, the more a person waits the bigger his profits will be. While it was blamed on 1 Aug. But now its turn to mover over 29 July so what are you now expecting from bitcoin. In my words just love.

Mapagmahal

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Quote from: Seeker01 on July 11, 2017, 06:22:39 PM

Quote from: malikusama on July 11, 2017, 05:24:48 PM

Well if i have a lot of bitcoins i will hold 50% of them for future and will spend other 50% on other business by changing it into fiat. Because I believe that investing your all savings at one place is not a good idea, to minimize the risk of loss we should invest it in different business areas.

This is a great idea, its right not to put all your eggs in one basket i mean diversification is an ideal thing for investments it will allow you to lessen the risk and increase the possible profit. If have a lot of btc i will do the same for me to maintain some of my profit and for me to make more money.

This is a golden rule in investing not to put all your money in one investment to avoid such incident like investment loss. I myself is doing this strategy because i don't want all my funds to get lost when some bad things happen. Saving your bitcoin in different areas or different investment will likely give you more profit but it depends where you put your money. For now, Saving is the real key until you meet your desire selling point.

Harlot

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Well it is called price appreciation my friend. Last 7 months ago I remembered that Bitcoin was just below the 1000$ level right now it has reach an all time high of 2990$+ which is a tremendous increase for a little over 6 months. So that is why before your Bitcoins even though you are not adding still increase in terms of value. And to answer your question if I have a lot of Bitcoin I won't spend or sell it, I will only convert it to Fiat Currency when my target value arrives.

bentoremy

newbie

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Some people die without using all of their money, so i would save half and the other i would spent it.

Seeker01

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Quote from: malikusama on July 11, 2017, 05:24:48 PM

Well if i have a lot of bitcoins i will hold 50% of them for future and will spend other 50% on other business by changing it into fiat. Because I believe that investing your all savings at one place is not a good idea, to minimize the risk of loss we should invest it in different business areas.

This is a great idea, its right not to put all your eggs in one basket i mean diversification is an ideal thing for investments it will allow you to lessen the risk and increase the possible profit. If have a lot of btc i will do the same for me to maintain some of my profit and for me to make more money.

bitsmichel

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Quote from: malikusama on July 11, 2017, 05:24:48 PM

Well if i have a lot of bitcoins i will hold 50% of them for future and will spend other 50% on other business by changing it into fiat. Because I believe that investing your all savings at one place is not a good idea, to minimize the risk of loss we should invest it in different business areas.

That's right and at a moment we need fiat money for investing or for spending as bitcoin cannot be used everywhere so its wise to sell some bitcoins and convert it to fiat and invest that fiat in real world from where we can generate regular profits.

servletdore

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Too many questions like this one, all i can tel you is that in my case i would not spent them and save for later.

malikusama

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Well if i have a lot of bitcoins i will hold 50% of them for future and will spend other 50% on other business by changing it into fiat. Because I believe that investing your all savings at one place is not a good idea, to minimize the risk of loss we should invest it in different business areas.

Kotone

hero member

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If i have lots of bitcoin basically and people will do not to spend their bitcoins for nothing or risking to earn it again from investments site that never paid people back hence if your goal is to earn and save for the future purposes maybe lots of people will be happy for this earning and saving only if your spending too much maybe you will lose everything at the end.

Luno

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Quote from: wuvdoll on July 11, 2017, 01:08:58 PM

Quote from: KingdomHearts on July 02, 2017, 12:41:51 PM

Quote from: Finestream on June 29, 2017, 12:24:25 AM

Quote from: Sweetbtc on June 28, 2017, 11:39:11 PM

Let us simplify things, you do not have a lot of Bitcoin, so you do not need to worry about it. There is nothing in the balance that you have that can make your amount seem large here. There is nothing that you can do with that amount that will be too awful either way.

What OP is trying to say is "if", that means if time will come we will have a lot of bitcoin, what will we do then?
For me, I will surely invest by holding bitcoin because it is the best way so far to generate income, also I will put additional capital for trading to increase my earnings as a day trader.

I am delighted with your way of thinking but the truth is that you nor I have a lot of bitcoins so we should better not discuss it for now. Secondly what does a lot mean here ?
Around 50 coins may be a lot for me and for few may be 500 are not a lot. Everyone here has their own strategy of increasing their earnings and living their life.

No matter it will be 50 bitcoins or 500 bitcoins as both are very big money as of now. But in both cases it is wise to converse them rather than to spend them keeping in mind the fact that their value is always increasing. Even one bitcoin matters alot today than it did 8 years ago. Keeping this in mind we should always we should always think to preserve bitcoin because of its value. And trade them for currency when needed.

Yup even if you have lot of bitcoins spending them at once is never wise as you never know what value it will hold in future so to get maximum advantage from it we should try to save majority of bitcoins for future as price will be surely much higher in next few years.

wuvdoll

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Quote from: KingdomHearts on July 02, 2017, 12:41:51 PM

Quote from: Finestream on June 29, 2017, 12:24:25 AM

Quote from: Sweetbtc on June 28, 2017, 11:39:11 PM

Let us simplify things, you do not have a lot of Bitcoin, so you do not need to worry about it. There is nothing in the balance that you have that can make your amount seem large here. There is nothing that you can do with that amount that will be too awful either way.

What OP is trying to say is "if", that means if time will come we will have a lot of bitcoin, what will we do then?
For me, I will surely invest by holding bitcoin because it is the best way so far to generate income, also I will put additional capital for trading to increase my earnings as a day trader.

I am delighted with your way of thinking but the truth is that you nor I have a lot of bitcoins so we should better not discuss it for now. Secondly what does a lot mean here ?
Around 50 coins may be a lot for me and for few may be 500 are not a lot. Everyone here has their own strategy of increasing their earnings and living their life.

No matter it will be 50 bitcoins or 500 bitcoins as both are very big money as of now. But in both cases it is wise to converse them rather than to spend them keeping in mind the fact that their value is always increasing. Even one bitcoin matters alot today than it did 8 years ago. Keeping this in mind we should always we should always think to preserve bitcoin because of its value. And trade them for currency when needed.

renderkiss

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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 all depends on how I get them, If I work for them, of course I will hold but If I get them for free, I don't need to hold because I already have profit.

Sadlife

sr. member

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This question has been countless times you can use the search engine and look for the answers but i suggest you hold,save,store your bitcoins because that like what you said that you hold only 13 cent before but after 7 months it became 50 cents then that confirms your question that the price will rise again to newer highs especially when segwit2x is going to get implemented in August and many institutional members has joined the bitcoin community and invested millions dollars , so you should not worry about the price volatility that the price might suddenly drop because bitcoin already matured from it.

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