Topic: Is Holding Bitcoin a long time good way to make money? (Read 4796 times)

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.

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.

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

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.

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

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?

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.

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.

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

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.

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

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

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?

"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.

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

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


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

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. 

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.

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

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.

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.

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

haha I bet that you will, is so tempting to HODL longer and longer, once bitcoin price start climbing.) and don't even want to mention, how shitty feeling it is sell some BTC, if you HODL them for long months..you will see

no, you're wrong...
I will not hold my bitcoin if the price was up to 500 $/more.
Maybe I will wait for the price down a bit and buy it again ...

uhh, but once it reach 500USD, I hope, that you will just smile little bit and HODL until 1k, 2k, 5k and MOON. I'm right?

holding is the best answer,
I'm waiting for the price of the bitcoin as last year, when it reached 500 $/btc

Of course nooo 


Exactly. If people really not need to spend those beloved coins now hold it for now.

ahh, you have to consider by yourself, what to do with own money:) anyway, I bought at ~220 and I will HODL them for next XY years. Just be strong and if you are not in finance need, enjoy the feeling, that you are getting richer every day..:)

im the one sir
buy @$215

should i dump all now ?

Lucky those who buy bitcoin in low price a month ago.

it can not drop, imho, because we are rising nicely, why it should drop at this point? it would be senseless, the price did have many occasions to drop in the past, and it was always holding strong, it has never fallen to sub 200, i find it pretty safe to invest in bitcoin for the moment

Keep holding is anwser most do.   And hope it does not drop to less than what you paid.

But yes a price change dropping can and does happen.  But as of right now we have been on a nice slow ride upwards.

What if the price drops? 

This is something we all hope.  But there is really no way to know. 

Bitcoin is still pretty new.  I mean we don't even know what will happen on the next halving.  Will be interesting to see miners though on it.

Sure it is.... Bitcoin will have very high price after 2-3 block halving

Most likely holding for a long time will give you a lot of benefit has day actors suffer more to the emotions of trading, if your a long term investment try and setup 3 buy level at the current price 250, 220 and 200 and then just wait 10 years for natural bitcoin growth.

for sure, previous ath are always achieved once again, don't listen to such thing as "maybe in 5-10 years", reache 1k in 10 years for bitcoin would mean that bitcoin failed miserably

i believe that many cannot get the whole picture and consider how insignificant is bitcoin right now, in comparison to what it is aiming for, its market cap is a joke, its TX volume its a joke, everything is ridiculously below the real expectation, by many orders of magnitude

Actually $1000 not $10.000
Of course if i know the future and have 10.000BTC i will HOLD it


Who knows, maybe next 5-10 years.

Just HOLD your some coins for the bubble in the future.

Agree to this.

But hey guys , do you think it can back again to $1000 mark ?

Yeah ofcourse. Take a look on the past, who doesn't expected that bitcoin become valuable after $ 10.000 bubble incident.
Actually I was shocked too. If only I knew bitcoin earlier, I'm probably hold BTC 10.000 for this year rather than buy pizza with BTC 10.000 before bubble incident happen

Yes, it's not a bad Bitcoin Pyramid, if there are many who want to buy, the price goes up when there are no buyers, we go down.

Holding bitcoins would be good investment. Bitcoin will be over $5000 in 3 years. Many Euro countries would follow greece. Banks would close and bitcoin will be a easy alternative.

Don't worry, there were people who bought in BTC at $30 when it was pumped from $5, it crashed again, but see where it is now... Those guys are still in profit ~x9 - x10...

All the adopters, not just earlier but even latecomers will get at least one more chance to get out in profit...

Holding your BTC is good  but to invest is much effective  if you know for sure that your business will be successful. Remember also the risk that you might lose money if your careless and didn't study about investing before doing so.

it was expected to crash after that rise, no asset rise that much without a furious dump afterward

you should have not bought anything above 300, unless you're planning to short in the up trend

For my own is risky holding Btc in a long terms,i remembered i got my btc average at 500 usd in 2014

If you have a lot money buy and holding. Wait when price up and you got profit, no need for long time for holding many coins.

i would say opposite that people who forgot their coins when they were 1 dollar each and remembered  at 1k they got really rich

People who lost their money by Holding is they not check the price frequently and forgot their coins.

Investing in what? Holding is easy way and low risk for the investment.

you never know what will happen i have seen people making alot of money by holding bitcoins and i also have seen people loosing money because of holding it i rather prefer investing it then holding it

i bought some bitcoin and i am going to keep them for at least a year

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

For me yes. It's better to hold it for now especially to those people who are not spending their bitcoin right now. We dont know what will happen in the future . In the movement of bitcoin today I positively see a good future again for bitcoin.

Just holding i think no , yes it may rise in value to 900 or 100 but also go to 100 , there is the thing called  risk / reward ratio , and the risk associated with holding bitcoin is relatively high
I would suggest investing or trading to actively counter unfavorable price movements

Well, you can have at least half of your Bitcoins in your wallet for a long time (if you are one of the believers that think the BTC exchange rate will peak in the future) and sell it once the rate is high. The other half can be exchanged often to keep the inflow of physical currency.

The answer is Yes. It's a good way to profit from bitcoin. Just sell it at higher price. Bitcoin fluctuates and in right time the value will surely goes up again. You can also do buy and sell in short period of time if you think you already earn some. The bitcoin now is at it's lower price and I believed that after few years, it will hit again on it's peak of 900 usd like before.

In general Bitcoin holding is just like gambling. There is a viable amount of risk, almost the same as most gambling games. The price is highly volatile, a single event [eg. collapse of Mt gox] can affect the BTC price. It would make sense to only invest what you can lose and not your life savings. If you have invested at $1000, it wouldn't be a good investment if you look at it now. If you invested at $1, it would have been an excellent investment.

As long as you're good at hiding when it is low enough to buy and high enough to sell.get your timing right

If you were lucky to hold when bitcoin still earlier launch, we can got 10x times profit for holding them.
But for now, Holding bitcoin kindda worried because the price keep decrease. But still it can't be predictable, who knows bitcoin value will increase more than we can expected. It's just a matter of time that we want to keep it

Bitcoin is adopted in many places and if this continues, it survives. Most of the times, we don't know whether it will survive or not but we believe it survives.


First one is possible. If something better comes and is adopted, Bitcoin is doomed. Second one is wrong because there will be a second way for confirming transactions at that time and difficulty most probably decreases which will help small scale miners.

How do you know bitcoin will survive? bitcoin might be deflationary and fiat inflationary but either one of them could become worthless or devalue by a lot. Bitcoin is till very risky in my opinion.


The amount of them that's going to be in circulation might not go up but their demand could go down, especially if something better comes along or it becomes unprofitable for the miners to mine.

USD is suffering because of inflation since government is printing money. There is a whole different story with Bitcoin. While it is not a good way to make money holding USD long term, it is certainly a good way to make money holding Bitcoin long term, given that Bitcoin is gonna survive that is... Because Bitcoin has a finite amount and that amount is even too low for mass adoption and to be used by everybody, it might get increased, but certainly government won't print them like USD..

i am holding bitcoin for the price to go up to the moon

yes, it can be if you are living in a developing country where 1 USD is equal to couple of thousand of your fiat and it grows over time. then it is a great way to make money, or better save money.

Well imagine if you wait until next year for example for monitoring btc price good or not, then for the next year bitcoin price is have a good price, then you speculate that's good chance to buy, then you buy but, that's otherwise.
Use technical analysis, it's based on past movement.


Could be, and exchange to local currency


~iki

you are right, even gold prices can fluctuate really sharply so i guess no one knows, though you can predict it with real life events

i dont know, every investment have a risk for lost, but im holding a little bitcoin because i have prediction price will up in this year.

Is holding USD a long time, a good way to make money?

i'd say there are two groups, one is doing day trading and just profit from the ups and downs every day and gather the profits.
the other is the ones who believe in bitcoin and bought what they could and are holding it for the future.

there are others too, who don't know what they want and jump on every corner.

it is definitely a good idea to buy bitcoin and hold it. but you have to keep volatility of bitcoin price in mind.

Holding now is the most viable option.  I sl would hold until the halving next year.  That will push up the price a bit. 

i have 100% of my fund in bitcoin  , i only dump some for emergencies, otherwise i'm holding 100%, people are overestimating the bitcoin risk, there is more reward than risk with bitcoin, for as I see it

There's no risk? Seriously? If you believe this, put 100% of your funds in Bitcoin, and then don't complain to use if it crashes. This is a naive statement on your part. Bitcoin is a HIGH risk.

not a fair comparison, last year price was returning from the 1200 ath which was a heavily manipulated price, and do not reflect a normal behaviour of a market increase

now the price is finally between a goo demand and supply, with a slightly better demand than supply, and we are climbing nicely, there is no risk now

depending how good bitcoin price in the future
kinda speculative, and seems high risk
for example, your question is asked on 2010 when bitcoin price still low (take example $0.1) . And someone holding bitcoin from 2010 till 2013. And he sold it when bitcoin worth $1000. It's good way to make money from investing on bitcoin
But other condition can happen too, just like you buy bitcoin now on $250, and you holding it for a year. But bitcoin prices keep failing and only worth $10 when you decide to sell it. It's bad way to losing money

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 Unless BTC collapses of course...

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

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.

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

While I don't fully understand the Greece situation, based on what I've read, it would have little to no impact on Bitcoin, as the issue is people are trying to get their money and can't (in which case they also can't buy into BTC). Any growth at this point I'd take as being organic, due to the massive strides being made by various projects and businesses.

that's what he meant ...
as i said "long time" doesn't mean "long time"...
that's can be shorter,

The price is slowly going up and although it would be called just speculation at this point I think we'll be getting over 300 in a week or so, it could be due to what's happening in Greece, people are not being allowed their own money kept in their accounts and Banks are showing their true evil face, think about if it happened to you. Do you really want to keep your money in banks any more? I don't, I'll hodl mine in Bitcoin and it time it will bring a nice ROI.

Seriously... nobody knows this answer. It's all subjective. Bitcoin could die in a month. It could have some fatal flaw that demolishes its value. X could happen. Y could happen. Anyone claiming it's this foolproof method of increasing wealth is delusional. If it was that foolproof, guess what: every major investor would be pouring 100% of their funds in it. After all, a 100% way to increase wealth is a hell of a lot better than going after mediocre 6-7% APY stocks that often have down years.

HODL Bitcoin is never a bad idea.

However, I diverse to BitShares and NXT.

BitShares BitUSD currently offers ~5% APR (interest) which is quite nice.

NO

better way is buy Hold sell if profit 1-20% buy again if price down
that simple way if you can do it 100x/month you can buy ferrari

but not easy to do it

Today is time for buy some, and HOLD for long term.

What things? Actually recently, the price moving stable, it's more stable than few a years ago.


~iki

usually someone that want to go for long term, should put all his btc in a cold storage and forget about it, no hacker can hack anything

@OP holding bitcoin long term has proven to be worth it, so you might give it a chance, the odds are in your favor

If we were few years back then yes holding btc will give profit.
But today dont know, things are going very slowly

It can be a good way to make money if the prize rises, if it doesn't then no

Maybe, if you don't lose your bitcoins and don't get hacked.

Don't be that guy that lost millions in forgotten BTC because the HD where they have been stored crashed beyond repair

I have a good feeling about halving time, so now is a good time for buy some btc, the price is stable now.


It's depend on you want to HOLD, If you want a trading always check the price but it depends on your analysis for get a profit. If you want to HOLD for long term just HOLD until halving time


~iki

It really depends on how long you want to hold Bitcoin. If Bitcoin will appreciate in value over the years, then you will make some money. But it is very hard to predict if Bitcoin will do well in the future or not. But, as you said, now since Bitcoin is only around $200 - $300 it should be safer to buy now. But that is just my opinion and speculation. It could be very wrong, as Bitcoin does have potential to go down a lot as well.

Its a bit like intangible real estate. Prices fluctuate, but over time, should increase (except you dont get rent-- which is a shame)

the price can grow or fall really fast, for example the price raised from 220 to 260 in like 3 or 2 days so i think its fast am i wrong?

doesn't matter,
you just need to predict whether the price will be going down or up...
few times a days is better

Doesnt matter if you will watch it hourly as bitcoin price almost doesnt move every hour. You can check the price atleast daily whichever is easier for you

I thought of this so you are watching the btc price every hour?  Or more like every 15 minutes?  Would just checking it few times a day be fine?

You can just simply buy bitcoins when the price goes down and sell bitcoins when the price goes up. Sounds easy right but you have be good in it. You need patience to earn profit

Yes, if you can sell it right at the moment when the price goes up. That's will be profitable,


'long way' doesn't mean long

i think that yes, it is a long time good way to made money, btw im sure that this "long way" will be more shorter than expected, i can see in the last months more and more good news about the bitcoin, coincidence?

i wonder if i will make money on the btc i purchased. i will hold what little btc i bought a few days ago for a long time. i will purchase some mining power too i think. maybe my btc holdings will increase.

yes it is. if somebody recently asked me "is good time to buy for longterm", I'm generally saying "yes, for sure, and doesn't matter if one BTC is for 220 or 260". Based on various projections and articles, we are still in very early stage and if you buy something even today, you will be considered as early adopter..ofc if bitcoin succeed...

and holding? ohh buy, I love holding so much...it is so cool, really:)

I first got bitcoin from withdrawing from gambling sites.  I deposited with another method but could withdraw bitcoin so i did it.  Around that time bitcoin was around $220 usd or so and when i got it, i would then trade it for poker funds from other person etc because I didn't want to hold the bitcoins due to reading about price fluctuations.  However, isn't the value of bitcoin almost always going to go up so its best to hold it?  I know last year it was $600 and the highest was when it was more than $1000 per bitcoin.  But since it is all the way down to $200-$300, isn't having bitcoin always good?  Could bitcoin go all the way to 0 soon?  I had thought hey if you get bitcoin when its $230 when the price stayed like that for a long time, thats great b/c very hard for it to go below $200 because i haven't seen that.  But even if it does, isn't it almost always going to rebound and go back up?  Last time i had btc and it was $230 or so and now it went up to $260.  So if you have say 100 bitcoins... well... thats a nice $3000 profit or so.


I'm sure there are ppl that have thousands or bitcoins right and just hold on to it?  And many that would sell btc immediately if prices go all the way up?  If someone had say 500 bitcoin... then btc price went up $20 in say a week or so... selling it would net them $10000 minus fees right?  However if they sell it via localbitcoins or other method, they are going to get a higher profit right?  However if they do this, say sold all their 500 btc... then once bitcoin later in the year go up another $50... well that would be $25000 less they would have earned.



In general, isn't holding BTC always a good thing since the price of it is pretty low now?  Obviously if you bought btc at $600 or $1000 and thought it would went up and held on to your btc, that would been a disaster.  But since its in the $200-$300 range, isn't having BTC always good?