Topic: Is Holding Bitcoin a long time good way to make money? - page 154. (Read 368873 times)

I like to think so, and I see it as a very likely outcome. But the rational fact is that it is a gamble, and I think that's the healthiest way to approach it. I'm starting to save bitcoins for the future, but I just don't take it so seriously.

well it depends how long you are willing to hold it for but eventually it increases with time (the value of bitcoin) .it will certainally be affected by factors such as how much and how long you are going to invest so good luck with that
And if you hoding your coins for then 1000$ price increasement then sure it is a good way to make money no matter it the market goes a little down too but one day bitcoin price will reach that mark

it is believed that after completing their mission to develop a vision and getting everything in return, without spending a lot of effort and money on research and find out , but at one point, bitcoin will remain with the fed for them and him seeming base and gave the banks free the blockchain and not expensive, obeseness, will remain as a memory, leaving us only hope that someone else will replace him, but the chance is so and so to miss, though

The last couple of months it was.
For the future we will have to wait a couple of months. But i am happy to buy coins and just not spend them and still making profit.

I dont think its how long you hold it but knowing when to sell it.  As the prices fluctuate.  BTC is expected to go up for 2016.  So depending on when you bought it or should I say at what price.  Hold it until you. Feel comfortable selling it.

All depends on what you are going for.  Profit like most people or a currency you can use if your local currency ever fails.

Thanks that is good advice!

this is stupid, because in that case the value of fiat will drop to zero first than bitcoin, since all bank will be broken, this if you're talking about cracking sha256, which is impossible btw..

BTC price will drop to 0 as soon as someone invents a super computer that will be able to crack the encryption of the system, or if the whole internet will be shut down. Of course the chance of these are nearly zero, so as long as there is a proper demand, the price will rise.

I think it will take decades if btc price down to 0, so keep calm and store it, it'll up to thousands $ some day

I will agree with you dude. If demand goes to Bitcoin automatically rate of bitcoin also will increase accordingly. and Having bitcoin for long term is best I feel the rate not enough reached as satoshi predict. If keep for long term, future Its sure our Bitcoin savings will help for sure

I really appreciate you guys for sharing knowledge about Bitcoin and yes Bitcoin looks very positive as of now and for future and I hope by few years there will be a stability for BTC value. For example $1000 - 1500.

The History of bitcoin is too short to say holding bitcoin a long term is a good way to make money. So far, for every 3 year period, the price always rise.

Holding till the block halving is the best option. After that you can decide for yourself if you want to hold your Bitcoins longer or not. I personally am holding for the long term, but I will surely secure some profits just before or just after the block halving.

I am not too fond of coinbase, many users here also encountered problems with their support.

The worst thing though is their addresses. Every time you get a new address + your old address. Which makes no sense for me. If I wanted 10k addresses, i would open 10k addresess inmy wallet. right..

You may want to check on the Coinbase Exchange.  It doesn't allow leverage or shorting but you can attempt to sell on the high and buy on the dip all within your coinbase account.

Hope this helps.

Well I'm from the us but i'm in mexico at the moment.  I have us bank account.   I also don't want to incur currency exchange fees as in the end, i want USD to my bank of america. 


And i would like low fees for trading and withdrawing. 

If you look at either a 3 month or 3 year period. I think both terms are looking very positive to increase your money.
The perspective and outlook are looking very good and this you find back in the price.

I prefer using kraken or bitfinex to buy bitcoins. Those exchanges have a good volume and very solid security measures built in.
To get a more specific overview you should compare the larger exchanges in terms of trading fee + withdrawal fees. These can differ very much.

Proper research is therefore advised.

I'm the original thread starter for this thread.  I know how to acquire bitcoin as certain gambling sites give this to me.  However, are most you actually profiting selling bitcoin for a vig?


As of now, I know 2 ways for me to turn bitcoin into cash into my bank of america and that is through circle or coinbase.


So i see many of you mention localbitcoins.  So you guys are making even more selling it on localbitcoins since someone is giving you extra money for the vig?


Also what exchange are you people using to buy/sell bitcoin?


Example let say i have 10 bitcoins just for example.  Is there a place where i could buy and sell bitcoins as in trading daily in real time?  Example let say i have 10 bitcoins and price is $350.  I see the price has went up to $380.  I then sell at of them so i would make $30 each so $300 total.  But i would have to pay a fee for selling it in the exchange.  How much is the fee?  Then let say i want to buy 10 bitcoins at the exchange the price falls to $300.  Where do i do this immediately?  Someone asked me about my location.  Well im in mexico but im from the usa and have us bank acct.  Circle and coinbase required me to have a us bank acct to open acct which i have no issue with even though im in mexico, well i still use my usa banks.

Generally, I follow this strategy while dealing with BTCitcoins:

• I buy Bitcoins (around 2-3BTC in fractions) as soon as the price goes reasonably down. I also switch my miners off at this time.

• When the price rises up @20-30% and gets stabilized there, I hoard my existing coins and start hashing up.

• As soon as the price spikes upto 50-60% of my purchased value, I start selling them on LocalBitcoins in fractions. And my miners also start running in full phase.

P.S. Now is the prime time to follow my third strategy and I'm currently doing that too.