Is Holding Bitcoin a long time good way to make money? - page 162.

bitgolden

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Quote from: gamalzour on October 09, 2015, 03:12:14 AM

Quote from: minerjis on October 08, 2015, 02:27:17 AM

I was recommended into bitcoin by saying it will hit to 1million USD in near future.
I do not have that much knowledge in bitcoin but my friends has and I believe them. So holding bitcoin is the good way to make money.

yes hold your bitcoins. It's the future of money. So, it may reach higher prices beyond your friend's expectations too.

People are perfect at predicting bitcoin prices but not guiding people when the recommend into bitcoin world. The proper way of recommendation must be encouraging them to buy some small amount of bitcoin initially as we need to consider $250 range of prices is very low when we compare to all time high of $1200.

gamalzour

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Quote from: minerjis on October 08, 2015, 02:27:17 AM

I was recommended into bitcoin by saying it will hit to 1million USD in near future.
I do not have that much knowledge in bitcoin but my friends has and I believe them. So holding bitcoin is the good way to make money.

yes hold your bitcoins. It's the future of money. So, it may reach higher prices beyond your friend's expectations too.

melisande

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This depends on many factors but most important among them is speculations about the would be market price of bitcoin at xxxx year this factor alone would determine whether to buy and hold, sell/trade or to thread with caution.
But generally bitcoin is a digital gold and it worth it if you can have some in your cold wallet.

minerjis

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I was recommended into bitcoin by saying it will hit to 1million USD in near future.
I do not have that much knowledge in bitcoin but my friends has and I believe them. So holding bitcoin is the good way to make money.

n2004al

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If you have believe on it for sure it is. Theoretically the price of bitcoin will go high for sure. The limited amount which will be in circulation and the spread of it every day more (remembering here and including the increase of the population in all the world which will make that this spread continue more and more) for sure will increase the demand for it. And the increase of demand will rise the price. But this is only theory. Right, but theory. Only the true believers believe on it. And are they which hold the bitcoins and think that holding the bitcoins is a good way to make money.

coinplus

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From the past history we need to learn the lesson of holding bitcoin than simply buying and selling as a day trader. I believe that history will repeat itself. So, there are more and more chances of explosive of price hikes in upcoming days based on halving and new ASIC miners. I prefer to hold bitcoin for long time, it's a simple way of making money.

Mickeyb

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Move On !!!!!!

Quote from: Amph on October 07, 2015, 01:31:36 AM

Quote from: arnav95 on October 06, 2015, 11:42:21 PM

yes it is but you need to define your longtime, i mean by 2140 you will surely make a killing on bitcoin if you hold till that long and you also need to live up that long to see the killing you will make no matter you bought bitcoin on 200$ or 1000$. you will end up making a killing on it, so yes holding bitcoin is a good option to make money with no work to do.

this is no realistic no one will wait that long, the right time frame, would be 2020, for a good wait and hope about a new big ath, or at best 2030, to follow thesatoshi prediction about the 20 year big volume or no volume at all

Yes we definitely need for Bitcoin to encourage us by the 2020 by the price. Otherwise, people will lose interest, simple as that. I think that until 2020 is nice period for Bitcoin to grow and improve and also gets adopted. In the next 5 years, price will have enough time to follow this development.

At least let's hope so!

Verified4you

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I'd prefer to hold in BTC less than 3-5% of my investments.

Amph

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Quote from: arnav95 on October 06, 2015, 11:42:21 PM

yes it is but you need to define your longtime, i mean by 2140 you will surely make a killing on bitcoin if you hold till that long and you also need to live up that long to see the killing you will make no matter you bought bitcoin on 200$ or 1000$. you will end up making a killing on it, so yes holding bitcoin is a good option to make money with no work to do.

this is no realistic no one will wait that long, the right time frame, would be 2020, for a good wait and hope about a new big ath, or at best 2030, to follow thesatoshi prediction about the 20 year big volume or no volume at all

arnav95

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yes it is but you need to define your longtime, i mean by 2140 you will surely make a killing on bitcoin if you hold till that long and you also need to live up that long to see the killing you will make no matter you bought bitcoin on 200$ or 1000$. you will end up making a killing on it, so yes holding bitcoin is a good option to make money with no work to do.

coinplus

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I had bought some bitcoins when prices were around $1000. I did that just to invest in gambling to make my investment in to ten times. But, I failed in gambling to multiply my investments as well bitcoin price was in down trend. Still I'm holding in down trend and I feel it's very important to see good profits when bitcoin test new heights.

bitgolden

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The rationality of holding has taken something of a battering in the course of the last 20 or somewhere in the vicinity months. On the chance that you have faith in BTC as an idea then a critical ascent needs to happen for it to grab and hold. In the meantime you have to keep your minds about you for potential demise spirals. It's a long way from being taken care of yet.

Ceizer54

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I agree with you mate.I also have the same opinion of holding butcoin as long as you can for great profit.
As per the history of bitcoin,it's the most volatile and even crossed $1000 in just two months then bounced back..So you never know,anything can happen with bitcoin..it can sky rocket any time Grin

..so we all should hold some bitcoins atleast Wink

Q7

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Generally that's part of what you call trading. In reality you can never know when is the best time to sell or when is the best time to buy. Same goes if you decide to hang on to your stash and missed the opportunity. Anyway if you develop the right strategy you can actually grow your coins quite fast.

randy8777

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yeah. most people (me included) thinks we'll see the price advance to much highers levels in the comming years. those who aren't holding will surely regret.

Mickeyb

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Move On !!!!!!

Yes, majority on this forum believe that holding bitcoins long term will bring you very nice gains. I believe so to, that's why I have a percentage of my bitcoins in the cold storage and I will not touch those for a while.

Bitcoin is a technology that's just in its infancy. Bitcoin needs time. It's actually quite hard for ordinary people to wrap their heads around to trust some computer code with their finances. We have managed to do so until now, but ordinary people will need a bit more to start believing like we are.

Amph

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you have not much choice for now, i mean if you want to sell at this price and you're struggling to earn even one bitcoin, it would look a bit stupid

it would be better to find a job directly, therefore the only choice is to hold and hope for a better price, we are somehow forced...

futurebit640

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Quote from: Luqman on September 05, 2015, 08:58:56 AM

I think yes/or..based on the situation that I took everyday, it is what decision I made..

I think no reason is simple bitcoin prices are not growing much since last couple of years so if hold coins with you then you may not make more profits from them instead sell it when ever you make some decent profits from them and again you will get an opportunity to buy at lesser price.

Leinaded

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Quote from: viking02 on June 30, 2015, 12:24:11 PM

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?

The problem here imho is that you seem to be asking for an oracle to foresee how the btc price is going to behave in the future. Sorry to bring bad news but no one is able to do that reliably and if they make a mistake you'll regret having believed what a stranger told you. There's no holding for the long term or short term, there is entering a trade (adquiring cryptocurrency) at the right time and exit a trade (sell it) at an equal right time. What I'd do in your place is learning from a good trading course. They have gotten really affordable nowadays and will help you a lot to read how a price can behave in the future and make good reads from the market. Is harder than blindly follow a stranger opinion but is more rewarding and reliable. A good way to start learning are the courses from Steve Nison.

GannickusX

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Bitcoin is not really having a lot of activity recently and it hasnt been as volatile as before so short term investments are definitely better, you will make more profit this way, if you know what you are doing. I guess you could try a long term investment on some altcoin that has potential but still, i don´t really see the point.

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