Is Holding Bitcoin a long time good way to make money? - page 157.

Amph

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Quote from: ultimatesky on November 22, 2015, 04:10:44 PM

I think it is more profitable then buying miners and wait for profit. Since miners cost a lot of time of monitoring, repair etc.

Bitcoins are just bitcons. The only thing these precious seek is safeguarding them by protecting your wallet.

but it do not give you "interest" like miners

think about mining like a pos bitcoin that give you a profit every day, simply holding will not increase your amount of coins

HarryKPeters

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To me it is. Expecting adoption by either merchants or even better some companies (Google), it will become more popular.
More people will want to buy it > Price will rise etc. etc.
So yes taking that in effect an increase is logical event to me.

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SkyFall

I think it is more profitable then buying miners and wait for profit. Since miners cost a lot of time of monitoring, repair etc.

Bitcoins are just bitcons. The only thing these precious seek is safeguarding them by protecting your wallet.

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Quote from: GannickusX on November 07, 2015, 06:38:29 AM

Quote from: ph.amracyshop on November 07, 2015, 12:10:12 AM

Actually it is risky but it also depends on the bitcoin.

It's not risky, you can always check the bitcoin price everyday and if you consider is falling too fast or too much you can always just sell the bitcoins you bought or convert them into another coin. You really can make a long term investment into a short term investment, there are no real long term investments in bitcoin.

Can i ask what information your basing your statement on. if anything Bitcoin is a long term investment. are you telling me that in 10 years when many more people are using bitcoin and there is less and less bitcoin to be had that the price is not going to rise? to me saying "there are no real long term investments in bitcoin" sounds ridiculous.

bitlancr

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For long term Yes. But don't go all-in with 1 assets. Crypto is and will be risky, now and in the future.

Try to diversify your investment buy holding other assets (FOREX or stocks).

zeaderza

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I buy bitcoin on low price and keep for sell with a high price.

Amph

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Quote from: RyanLZ on November 21, 2015, 07:34:25 AM

If everybody holds bitcoin and do not use it, bitcoin will be useless. So the price will drop to 0. We need to hold some and use most.

this is a bad logic, because if they also buy along with holding, the price will increase

anyway the point is to sell to those that do not have bitcoin, and let them (who have no bitcoin) acquire bitcoin, not just spending your coins in useless stuff

erickimani

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as the trend reveals, I now believe it is more of an investment opportunity rather than a currency. When you hold bitcoin be sure that it goes on increasing its value.

Scream

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Quote from: RyanLZ on November 21, 2015, 07:34:25 AM

If everybody holds bitcoin and do not use it, bitcoin will be useless. So the price will drop to 0. We need to hold some and use most.

+1
much transaction is good for make more people interesting

RealPhotoshoper

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it hard to answer,and depending bitcoin price for now and next year.lets think if we hold bitcoin 4 year ago,and check bitcoin price for now,we are not get money because bitcoin price going down almost a half.but i wish i could hold bitcoin for long time because i believe bitcoin more poplar,and so many people adopt it. and also so many country start to accept bitcoin.

RyanLZ

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If everybody holds bitcoin and do not use it, bitcoin will be useless. So the price will drop to 0. We need to hold some and use most.

bitmarket.net

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Quote from: viking02 on November 04, 2015, 12:36:21 PM

okay since i'm the original poster of this post, i have question to ask here.

I didn't know that much about bitcoin but at the time when it went down to a bit below $200, i had thought... no way it will get lower than that. It then moved back over $200 and then was around the $220-$240 for a long period of time. Then moved up a bit and then of course hit that huge surge recently where i saw it went up to $300, then $350 then right now its all the way up to $490.

So in essence if you feel at the time hey bitcoin even at $240 is pretty low... if you buy a ton of bitcoin... then wait for it to go up like the huge spike now... then decide to sell a lot of btc... then assuming it drops down pretty hard say back to $250... then you buy a lot of btc again then if it goes back to $450.... then you rinse and repeat if you will... isn't a person going to make a lot of money assuming they have a lot of money to buy a lot of btc?

As Keynes said: "sometimes the market can remain irrational longer than you can remain solvent"

GannickusX

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Quote from: ph.amracyshop on November 07, 2015, 12:10:12 AM

Actually it is risky but it also depends on the bitcoin.

It's not risky, you can always check the bitcoin price everyday and if you consider is falling too fast or too much you can always just sell the bitcoins you bought or convert them into another coin. You really can make a long term investment into a short term investment, there are no real long term investments in bitcoin.

bitcoinmar

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Quote from: Miracal on November 07, 2015, 05:20:11 AM

Quote from: jerowacik on July 02, 2015, 05:13:32 PM

i think so risky if you Holding bitcoin a long time , may be just 3-6 Month it's good . but , if you already got cheap or profit you should sell your bitcoin , and waiting dump again .

I agree. I always follow the strategy to sell my Bitcoins when they reach a 'set' profit margin. Too much waiting can mean greed and then the decision making abilities are hampered by it. I would suggest to set a fixed 'profit margin' (within reasonable limits of course) and sell when the price touches that floor.

In current situation best policy is if you have good profit then sell and as you look reasonable price then buy back because holding long time for profit is not good

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Quote from: jerowacik on July 02, 2015, 05:13:32 PM

i think so risky if you Holding bitcoin a long time , may be just 3-6 Month it's good . but , if you already got cheap or profit you should sell your bitcoin , and waiting dump again .

I agree. I always follow the strategy to sell my Bitcoins when they reach a 'set' profit margin. Too much waiting can mean greed and then the decision making abilities are hampered by it. I would suggest to set a fixed 'profit margin' (within reasonable limits of course) and sell when the price touches that floor.

Amph

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Quote from: ph.amracyshop on November 07, 2015, 12:10:12 AM

Actually it is risky but it also depends on the bitcoin.

the risk/reward ration is in favor of the reward if you hold, so it's worth it more than many other asset right now, which are facing only a good stagnation

viking02

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Quote from: newbitcoins on November 06, 2015, 07:21:08 AM

Quote from: viking02 on November 06, 2015, 03:50:50 AM

I'm confused with this. My thoughts were when bitcoin kept dropping so much that it was at one point under $200 for a bit, get bitcoin because i can't imagine bitcoin getting lower than that. My thoughts are if btc keeps rising like it has been, i feel like it will eventually go down. Thus buying high isn't ever a good idea. I recalled it went up to 480 then just dropped to 360 within 24 hours.

Another question i want to ask. To those ppl who trade bitcoin by buying low and selling high... how does one do this? Do we need an account at an exchange? Obviously using coinbase and circle wouldn't work right?

What exchange does one need if they want to buy and sell bitcoin instantly? Most importantly, how much are the fees per each transaction?

How does one fund that account? Through a bank wire or bank transfer ACH to the exchange? So if one buys say 10 BTC at $350 each it cost $3500 plus how much in fees? Then let say it goes up to $380. Then you want to sell all 10 btc at $380 so $3800 total. How much fees does one need to pay for that? Thus you would profit $300 here but are the fees a lot? Is the exchange like 1% each way so $35 to buy $3500 worth of btc and $38 to sell $3800 worth of btc so $73 in fees and thus $300-$73 so $223 profit?

The biggest exchange outside China is Bitstamp (https://www.bitstamp.net/)

The fee varies depending on the your trading volume, from 0.25% to 0.1%. https://www.bitstamp.net/fee_schedule/

ph.amracyshop

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Actually it is risky but it also depends on the bitcoin.

newbitcoins

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Quote from: viking02 on November 06, 2015, 03:50:50 AM

I'm confused with this. My thoughts were when bitcoin kept dropping so much that it was at one point under $200 for a bit, get bitcoin because i can't imagine bitcoin getting lower than that. My thoughts are if btc keeps rising like it has been, i feel like it will eventually go down. Thus buying high isn't ever a good idea. I recalled it went up to 480 then just dropped to 360 within 24 hours.

Another question i want to ask. To those ppl who trade bitcoin by buying low and selling high... how does one do this? Do we need an account at an exchange? Obviously using coinbase and circle wouldn't work right?

What exchange does one need if they want to buy and sell bitcoin instantly? Most importantly, how much are the fees per each transaction?

How does one fund that account? Through a bank wire or bank transfer ACH to the exchange? So if one buys say 10 BTC at $350 each it cost $3500 plus how much in fees? Then let say it goes up to $380. Then you want to sell all 10 btc at $380 so $3800 total. How much fees does one need to pay for that? Thus you would profit $300 here but are the fees a lot? Is the exchange like 1% each way so $35 to buy $3500 worth of btc and $38 to sell $3800 worth of btc so $73 in fees and thus $300-$73 so $223 profit?

The biggest exchange outside China is Bitstamp (https://www.bitstamp.net/)

The fee varies depending on the your trading volume, from 0.25% to 0.1%. https://www.bitstamp.net/fee_schedule/

newbitcoins

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Quote from: viking02 on November 06, 2015, 03:50:50 AM

I'm confused with this. My thoughts were when bitcoin kept dropping so much that it was at one point under $200 for a bit, get bitcoin because i can't imagine bitcoin getting lower than that. My thoughts are if btc keeps rising like it has been, i feel like it will eventually go down. Thus buying high isn't ever a good idea. I recalled it went up to 480 then just dropped to 360 within 24 hours.

Another question i want to ask. To those ppl who trade bitcoin by buying low and selling high... how does one do this? Do we need an account at an exchange? Obviously using coinbase and circle wouldn't work right?

What exchange does one need if they want to buy and sell bitcoin instantly? Most importantly, how much are the fees per each transaction?

How does one fund that account? Through a bank wire or bank transfer ACH to the exchange? So if one buys say 10 BTC at $350 each it cost $3500 plus how much in fees? Then let say it goes up to $380. Then you want to sell all 10 btc at $380 so $3800 total. How much fees does one need to pay for that? Thus you would profit $300 here but are the fees a lot? Is the exchange like 1% each way so $35 to buy $3500 worth of btc and $38 to sell $3800 worth of btc so $73 in fees and thus $300-$73 so $223 profit?

The biggest exchange outside China is Bitstamp (https://www.bitstamp.net/)

The fee varies depending on the your trading volume, from 0.25% to 0.1%. https://www.bitstamp.net/fee_schedule/

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