Is Holding Bitcoin a long time good way to make money?

lorylore

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Quote from: cryptojumper on July 02, 2015, 12:52:16 AM

Quote from: lorylore on July 01, 2015, 06:46:44 PM

Quote from: ranlo on July 01, 2015, 06:44:15 PM

Quote from: cryptojumper on July 01, 2015, 01:42:18 PM

Yes, of course it's a good way to make money by hodling bitcoin for a long time, at least it seems so for now.., but I mean for the long term.., because for the short term there are other way which requires more knowledge and skill like trading, altcoin trading, various investment options and stuff Wink

And then if Bitcoin dies, you'll turn around and say "wow, I shouldn't have held long-term!"

Quit acting like this is a perfect scenario, when it's not. Holding Bitcoin is still VERY MUCH a high-risk situation.

Just check this year and last year price of the bitcoin? not a stable price. Wonder what will happened in near future? it's high high risk

Yes, it's high high risk, but still a good way to make money long term. Quit acting requires more knowledge and you can get burned big time. So you don't want to spend days studying crypto just buy some btc, hold, and you should be fine in the long run Wink

Unless BTC collapses of course... Grin

Well i know it is very very risk. We know the fact about the last few days it was a huge rise(at least for me) and again dropping.

chaser15

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Quote from: ikydesu on July 14, 2015, 11:41:33 AM

Quote from: chaser15 on July 14, 2015, 05:59:23 AM

Yes someone answered me now. Inflation.

One country can't make more paper bills if they want because of inflation. Is bitcoin the same? So bitcoin can produce with no limit?

Possible, but i don't think bitcoin no limit. Due Fractional-reserve Banking, bitcoin can exceed 21 million. Look this: https://en.bitcoin.it/wiki/Controlled_supply#Money_Supply

Ahh I see. So my idea is right. It is possible because if whole world will accept bitcoin , it is impossible that production of bitcoin is unlimited. If bitcoin numbers will just increase with no limit it will affect the world's stock market.

ikydesu

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Quote from: chaser15 on July 14, 2015, 05:59:23 AM

Yes someone answered me now. Inflation.

One country can't make more paper bills if they want because of inflation. Is bitcoin the same? So bitcoin can produce with no limit?

Possible, but i don't think bitcoin no limit. Due Fractional-reserve Banking, bitcoin can exceed 21 million. Look this: https://en.bitcoin.it/wiki/Controlled_supply#Money_Supply

Falconer

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Quote from: Brewins on July 14, 2015, 06:30:33 AM

Bitcoin or fiat, if you do nothing to grow them, you will lose them. Probably you'll have an emergency and will have to sell all your bitcoins at loss.

Money won't forgive your lack of attention, never

It can be a speculation then, if the price is higher or lower in future. If the price goes up, so we are lucky, otherwise we can loss it if its price goes down. The question is, until when you want to hold your money? In my opinion, don't too depend on prediction that state the price will be higher in 10 years later, just take a chance when a big event is happening, like greece crisis that change the bitcoin price immediately.

Brewins

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Bitcoin or fiat, if you do nothing to grow them, you will lose them. Probably you'll have an emergency and will have to sell all your bitcoins at loss.

Money won't forgive your lack of attention, never

chaser15

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Yes someone answered me now. Inflation.

One country can't make more paper bills if they want because of inflation. Is bitcoin the same? So bitcoin can produce with no limit?

notlist3d

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Quote from: ?? on ??

Quote from: chaser15 on July 13, 2015, 12:00:54 PM

Quote from: ikydesu on July 13, 2015, 11:49:15 AM

Quote from: chaser15 on July 13, 2015, 11:12:01 AM

What will be the effect in the stock market if more bitcoins will hold and kept? Of course the answer is bitcoin price will rise due to demands. But I have a question here ; is bitcoins have only a limited number to be produced like fiat?

The price is rise if demand > supply. Hold is just store on wallet only.

Limited number? You means coins distributions? Bitcoin have 21 million coins only. The controlled supply here: https://en.bitcoin.it/wiki/Controlled_supply

So it doesn't have a limit? What I mean is ; real money have limit . One country can't make more paper bills . Is bitcoin too? Hope you guys understand my questions.

Do you mean a country can only make one currency then? That's what you are looking for real money has a limit ? Roll Eyes

If true Bitcoin is not like that all countries can have Bitcoin, all countries can seek Bitcoin is not like real money. Shocked

Bitcoin has no have limit he can be used all people in the world. Wink

Countries can make currency it's called fiat money. Some countries/regions money has good value and they do watch how much they print they dont want crazy inflation. Other countries are horrible on inflation.

Bitcoin is a form of currency but not issued by a country. It also regulated where only X amount will be made. We can see it halves and other things to keep it from some things.

The nice thing about BTC it's like carrying all your cash on a paper wallet (or other wallet). No one can stop you access to your BTC. Like watch Greece and people can get X amount per day from atm's. With bitcoin unless someone takes private key you can keep it secure and spend it as you want.

giustone

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My opinion is that you can make profit if you keep your long-term Bitcoin.
If you buy cheaper and sell more expensive, you make profit.
The golden rule is to be patient.

Amph

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Quote from: chaser15 on July 13, 2015, 12:00:54 PM

Quote from: ikydesu on July 13, 2015, 11:49:15 AM

Quote from: chaser15 on July 13, 2015, 11:12:01 AM

What will be the effect in the stock market if more bitcoins will hold and kept? Of course the answer is bitcoin price will rise due to demands. But I have a question here ; is bitcoins have only a limited number to be produced like fiat?

The price is rise if demand > supply. Hold is just store on wallet only.

Limited number? You means coins distributions? Bitcoin have 21 million coins only. The controlled supply here: https://en.bitcoin.it/wiki/Controlled_supply

So it doesn't have a limit? What I mean is ; real money have limit . One country can't make more paper bills . Is bitcoin too? Hope you guys understand my questions.

to what limit are you referring? there is only one real limit, which is the supply cap limit, then you have the limit based on the coins in circulation

it's nothing like fiat where they can print endless

chaser15

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Quote from: ikydesu on July 13, 2015, 11:49:15 AM

Quote from: chaser15 on July 13, 2015, 11:12:01 AM

What will be the effect in the stock market if more bitcoins will hold and kept? Of course the answer is bitcoin price will rise due to demands. But I have a question here ; is bitcoins have only a limited number to be produced like fiat?

The price is rise if demand > supply. Hold is just store on wallet only.

Limited number? You means coins distributions? Bitcoin have 21 million coins only. The controlled supply here: https://en.bitcoin.it/wiki/Controlled_supply

So it doesn't have a limit? What I mean is ; real money have limit . One country can't make more paper bills . Is bitcoin too? Hope you guys understand my questions.

rivoke

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Yes, it happen now.
Bitcoin's value look increasing. I was shocked when I open blockchain chart today. Let's see because of this raising , I'm making 20& profit. Ofcourse I still keep the rest, waiting for bitcoin's value more to the moon

ikydesu

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Quote from: chaser15 on July 13, 2015, 11:12:01 AM

What will be the effect in the stock market if more bitcoins will hold and kept? Of course the answer is bitcoin price will rise due to demands. But I have a question here ; is bitcoins have only a limited number to be produced like fiat?

The price is rise if demand > supply. Hold is just store on wallet only.

Limited number? You means coins distributions? Bitcoin have 21 million coins only. The controlled supply here: https://en.bitcoin.it/wiki/Controlled_supply

chaser15

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What will be the effect in the stock market if more bitcoins will hold and kept? Of course the answer is bitcoin price will rise due to demands. But I have a question here ; is bitcoins have only a limited number to be produced like fiat?

Squidoogeek

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"Only invest the money you can afford to lose" is a good maxim to follow here. Yes holding it can theoretically be a good way to make money. It's gained ground because of the Greece thing since I was paid in Bitcoin for something earlier this month. However, I do not recommend pouring your life savings into it.

dezoel

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Quote from: shad_90 on July 13, 2015, 08:49:17 AM

If you have large amount of BTC the holding it will affect the price. If I am right it will go up, but when you will sell those BTC, value will go down. Grin

So, technically lack of trust in BTC is worst thing BTC is enduring. People hurry to sell those BTC instead of preferring it over fiat.

not really, depending on how much bitcoin do you have..,
but if everyone have interest with bitcoin, maybe it will affect the bitcoin price.., Grin

ikydesu

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Quote from: frank0929 on July 13, 2015, 07:33:17 AM

Of course it's the best way to make money. I lost a lot of coins from trading. I never have luck or skills about trading. Buy and hold suits my needs best.

If you have a good skill in trading, you can earn a lot coins. Luck is only for gambling.

Quote from: shad_90 on July 13, 2015, 08:49:17 AM

If you have large amount of BTC the holding it will affect the price. If I am right it will go up, but when you will sell those BTC, value will go down. Grin

So, technically lack of trust in BTC is worst thing BTC is enduring. People hurry to sell those BTC instead of preferring it over fiat.

Not really affect to the price, if you buy, exactly the price will rise.
Buy = price rise.
Sell = price down.

shad_90

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If you have large amount of BTC the holding it will affect the price. If I am right it will go up, but when you will sell those BTC, value will go down. Grin

So, technically lack of trust in BTC is worst thing BTC is enduring. People hurry to sell those BTC instead of preferring it over fiat.

chaser15

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Quote from: Herbert2020 on July 13, 2015, 07:44:36 AM

Quote from: chaser15 on July 13, 2015, 05:46:15 AM

Well the bottom line here is , just hold bitcoins and keep it rocks in the future. Only convert bitcoins to real money when needed.

if you want to keep your bitcoin for long time and don't use them till the price went up , just remember to keep your coins in a safe place like an offline wallet or generally in cold storage. and specially avoid keeping large amounts in online wallets.

Yeah that's what Im studying now , offline wallet . For now Im using Mycelium as my main storage.

Herbert2020

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Quote from: chaser15 on July 13, 2015, 05:46:15 AM

Well the bottom line here is , just hold bitcoins and keep it rocks in the future. Only convert bitcoins to real money when needed.

if you want to keep your bitcoin for long time and don't use them till the price went up , just remember to keep your coins in a safe place like an offline wallet or generally in cold storage. and specially avoid keeping large amounts in online wallets.

frank0929

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Of course it's the best way to make money. I lost a lot of coins from trading. I never have luck or skills about trading. Buy and hold suits my needs best.

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