Never sell your Bitcoin? | Bitcointalksearch.org

illnino

full member

Activity: 756

Merit: 100

Quote from: Joshua01 on June 29, 2021, 08:20:52 PM

I just want to see what the general consensus is about selling Bitcoin. The well-known Bitcoin advocate, Mr. Michael Saylor, has said that you should never sell your Bitcoin, you should hold it for a lifetime. He believes that when you sell bitcoin, you will be taxed, but if you hold it, you can borrow bitcoin at a good interest rate (tax-free). Platforms such as Block Fi provide such services.

What do you think of this problem? If I double my investment during the next bull market, then for liquidity purposes, I will most likely not sell a bit. I really like Bitcoin and its direction of development, so regardless of short-term price fluctuations, I plan to invest in the long-term.

Well, stocks can give you devidence so, you can hold them and get interest. But Bitcoin is a speculative asset. Maybe you are right about platforms that offer interests for investing your Bitcoin in them. But I haven’t come across them. Maybe I will also use them, but now I think that I will sell part of Bitcoin in 5-10 years when I see a big bull run and I really need money.

Gudhal Untu

full member

Activity: 845

Merit: 100

Quote from: Bagong91 on August 02, 2021, 11:48:07 PM

Quote from: Joshua01 on June 29, 2021, 08:20:52 PM

I really like Bitcoin and its direction of development, so regardless of short-term price fluctuations, I plan to invest in the long-term.

if you have bitcoin in your wallet and you think bitcoin will grow for a long term investment it's a very good decision, because the decision on our investment is in your hands no matter what people say when u believe in a project/coin and you seen it from all sides of us must be sure of it

When people invest of course the main goal is profit, many people expect short-term when buying bitcoin so when the price drops they panic and sell immediately, after that the price goes up and he regrets, make sure before investing then we have a clear goal, namely profit, never sell when you lose.

fauzan Ichsan

full member

Activity: 1246

Merit: 102

Enterapp Pre-Sale Live - bit.ly/3UrMCWI

Quote from: Bagong91 on August 02, 2021, 11:48:07 PM

Quote from: Joshua01 on June 29, 2021, 08:20:52 PM

I really like Bitcoin and its direction of development, so regardless of short-term price fluctuations, I plan to invest in the long-term.

if you have bitcoin in your wallet and you think bitcoin will grow for a long term investment it's a very good decision, because the decision on our investment is in your hands no matter what people say when u believe in a project/coin and you seen it from all sides of us must be sure of it

it will be even better if we are consistent with our main goal which is to hold it in the long term. to hold is not an easy thing, when the price starts to bullrun, sometimes we will be shaken by seeing profits and fluctuating markets. By setting targets and rarely looking at the market, it will be easier for us to overcome the psychological burden

Joshapat

sr. member

Activity: 1526

Merit: 255

Quote from: EvieLannister on August 02, 2021, 03:06:13 AM

It still depends on where you live. Some places prohibit the possession of Bitcoin, even if you want to own it. It is recommended that you do not sell your assets if the country allows it. Especially valuable coins.
If you want to sell, you don’t have to be sold in legal tender, you can directly use it as currency for payment transactions.
If the country prohibits the use of cryptocurrency, then don’t hold it, it’s better not to
(Offending the law).

Obeying the law is of course the best solution, if we can't accept money from bitcoin for reasons it's prohibited and there are no exchanges that accept it then the best way is to look for an exchange from another country like Huobii or Binance, I once withdrew with USD on binance and entered the account around 10 days and I think everything is fine.

marissa23

full member

Activity: 658

Merit: 101

Quote from: Gudhal Untu on August 08, 2021, 01:12:21 AM

Quote from: Bagong91 on August 02, 2021, 11:48:07 PM

Quote from: Joshua01 on June 29, 2021, 08:20:52 PM

I really like Bitcoin and its direction of development, so regardless of short-term price fluctuations, I plan to invest in the long-term.

if you have bitcoin in your wallet and you think bitcoin will grow for a long term investment it's a very good decision, because the decision on our investment is in your hands no matter what people say when u believe in a project/coin and you seen it from all sides of us must be sure of it

When people invest of course the main goal is profit, many people expect short-term when buying bitcoin so when the price drops they panic and sell immediately, after that the price goes up and he regrets, make sure before investing then we have a clear goal, namely profit, never sell when you lose.

I agree that many people panic when the price of btc goes down so they take the wrong conclusion that they sell when the price of btc goes down because they are afraid that the price of btc will go down even more. This condition happened to me when I first joined the crypto world.

mrongos

sr. member

Activity: 532

Merit: 250

Quote from: jakdanyel on August 07, 2021, 11:16:48 AM

Having a strategy like "never selling" is very dangerous. Because then, there is no meaning in holding Bitcoin. HODLing doesn't mean that you will never sell your profit. It means that you make a long term investment. And you set a price goal for yourself. When Bitcoin price reaches it, you sell some or all of your profit. That helps you not to do stupid things.

I totally agree with your opinion, maybe we will be the stupidest people, if we continue to keep your bitcoins, while you have nothing else to use as capital for our lives, this is a business, if I get a little profit, it's done. definitely I will sell a little bit of my bitcoin, then I will buy it back when the price goes down..

blackened515

sr. member

Activity: 1218

Merit: 279

Quote from: jakdanyel on August 07, 2021, 11:16:48 AM

Having a strategy like "never selling" is very dangerous. Because then, there is no meaning in holding Bitcoin. HODLing doesn't mean that you will never sell your profit. It means that you make a long term investment. And you set a price goal for yourself. When Bitcoin price reaches it, you sell some or all of your profit. That helps you not to do stupid things.

I agree with you. Holding don't mean one shouldn't sell his/her Bitcoin. I heard stories about people who held their Bitcoin and refuse to sell even when they have made a pretty good profit till their death. We all invest to make profit, and it will be a wise idea selling some of your coin when you have made some profit. I think greed makes some people not to sell their bitcoin, they are basically not satisfied with the profit they have made.

Slow death

legendary

Activity: 3164

Merit: 1127

Leading Crypto Sports Betting & Casino Platform

Quote from: jakdanyel on August 07, 2021, 11:16:48 AM

Having a strategy like "never selling" is very dangerous. Because then, there is no meaning in holding Bitcoin. HODLing doesn't mean that you will never sell your profit. It means that you make a long term investment. And you set a price goal for yourself. When Bitcoin price reaches it, you sell some or all of your profit. That helps you not to do stupid things.

your post should be added to the OP for finally many people to understand that life is not just about buying and making Hodl until the person dies without ever selling their bitcoin, I get shocked every time I read stuff like that of people who buy bitcoin to make hodl and they never want to spend bitcoin even when they already have 10X profits, what is the purpose of making an investment and making 10X profits and not taking a part to buy things in the real world? I don't understand people who think about making eternal hodl

jakdanyel

sr. member

Activity: 1666

Merit: 304

kycfree

Having a strategy like "never selling" is very dangerous. Because then, there is no meaning in holding Bitcoin. HODLing doesn't mean that you will never sell your profit. It means that you make a long term investment. And you set a price goal for yourself. When Bitcoin price reaches it, you sell some or all of your profit. That helps you not to do stupid things.

KaliLinux

hero member

Activity: 1344

Merit: 565

Quote from: Masplanc on July 28, 2021, 11:09:33 AM

Quote from: Joshua01 on June 29, 2021, 08:20:52 PM

you should never sell your Bitcoin, you should hold it for a lifetime.

You are getting it wrong. Just imagine if everyone that has Bitcoin keep it till lifetime, no selling, what do you think will happen to the Bitcoin economy. As far as Bitcoin exist it must be sold out, exchange must take place . Where there is no exchange no market

You are right. I still believe that most Investors take this out of context about not selling Bitcoin. It is not possible or I should say, it makes no sense for you not to sell Bitcoin. This is an investment whether we agree or not and the reason is for you to make profits and you have to take profits at some point otherwise there is no need to invest and keep them forever without selling. I believe the idea is for you not to sell all your Bitcoin because it has that potential to continue to appreciate over time,
so it is a very good investment for us to Hodl for future gains.

Elsaveronicha

full member

Activity: 630

Merit: 100

XIRCUS

Quote from: ?? on ??

I believe that, as in any investment, you have to buy something and then sell it. Many people sell stocks to buy more. I think the same thing happens with bitcoin. Whoever wants to buy bitcoin. They wait for it to drop in value. It's not profitable to buy at a high price. And the one who sells, he doesn't want to lose his bitcoin money. You can wait. Like many people did before bitcoin jumped in value. But I still think bitcoin is worth selling. If you have a good offer. Because it's a good tactic. For future investments.

although the price of bitcoin is very volatile. But if we keep it for the long term, bitcoin is very profitable. There's nothing wrong if you take profit, but you don't regret it if the price of bitcoin gets higher.

Bagong91

full member

Activity: 434

Merit: 101

Quote from: Joshua01 on June 29, 2021, 08:20:52 PM

I really like Bitcoin and its direction of development, so regardless of short-term price fluctuations, I plan to invest in the long-term.

if you have bitcoin in your wallet and you think bitcoin will grow for a long term investment it's a very good decision, because the decision on our investment is in your hands no matter what people say when u believe in a project/coin and you seen it from all sides of us must be sure of it

rina aulia

full member

Activity: 588

Merit: 101

Quote from: Joshapat on August 02, 2021, 09:55:41 AM

Quote from: EvieLannister on August 02, 2021, 03:06:13 AM

It still depends on where you live. Some places prohibit the possession of Bitcoin, even if you want to own it. It is recommended that you do not sell your assets if the country allows it. Especially valuable coins.
If you want to sell, you don’t have to be sold in legal tender, you can directly use it as currency for payment transactions.
If the country prohibits the use of cryptocurrency, then don’t hold it, it’s better not to
(Offending the law).

Obeying the law is of course the best solution, if we can't accept money from bitcoin for reasons it's prohibited and there are no exchanges that accept it then the best way is to look for an exchange from another country like Huobii or Binance, I once withdrew with USD on binance and entered the account around 10 days and I think everything is fine.

You better not get involved with bitcoin (Offending the law), you know it's against the law but don't want to sell the bitcoins you own, are you serious? If you want a withdrawal solution then you can use an alternative withdrawal on the P2P service on binance.

EvieLannister

member

Activity: 95

Merit: 10

It still depends on where you live. Some places prohibit the possession of Bitcoin, even if you want to own it. It is recommended that you do not sell your assets if the country allows it. Especially valuable coins.
If you want to sell, you don’t have to be sold in legal tender, you can directly use it as currency for payment transactions.
If the country prohibits the use of cryptocurrency, then don’t hold it, it’s better not to
(Offending the law).

wallet4bitcoin

sr. member

Activity: 980

Merit: 282

Catalog Websites

To Be Honest, I will never hold my BTC for lifetime. Yes I will buy bitcoin for making profit. If my BTC price increase and i am happy with the profit l, Then I will sell and a wait for a great buy. If I hold btc for lifetime, That's will never value my life. I believe if i hold BTC for a long time, I get big profit. I am not too rich to locked btc for lifetime.

randegibran

sr. member

Activity: 882

Merit: 252

it's not that we don't want to sell our bitcoins.but I tend to hold back if the bitcoin price hasn't experienced a significant increase, that's why I don't want to sell and choose to keep it for an indefinite time. I will not wait anymore to sell it and I will release it on the stock market

blackened515

sr. member

Activity: 1218

Merit: 279

Quote from: ?? on ??

it's not that we always want to look for a little profit in business maybe for me that is because I don't want to sell bitcoin if the price is below my expectations because if the price is still very cheap I want to keep it instead of selling the bitcoin, especially the crypto world is a long-term investment long so we can have a long time to release bitcoin or keep it

Every good investor won't sell his/her Bitcoin if the price is still low. We all invest to make profit, and making profits from cryptocurrencies requires time and patience. Bitcoin will definitely hit a high price. The price is at $41k, not too late to get into the market. I prefer selling my bitcoin only when I have made some pretty profit.

osasshem

full member

Activity: 625

Merit: 100

Taking strong hold your your Bitcoin is an idea that can change a lifetime financial situation forever. For instance, the well know story of a man who used 10,000BTC to buy two Papa John's Pizza, which is being celebrated today and which will remain to be celebrated in the entire crypto history as Bitcoin Pizza Day on every 22 May. Then, it has no significant worth in the market and to the entire world. With this story, holding will always have to be a good step of action that should be respectfully taken, cause I always yields a clear profit when the bull run kicks off.
If there is a real life job one does, then the pressure of immediate withdrawal for pressing needs won't be taken on Bitcoin.

Kez1817

member

Activity: 909

Merit: 17

www.cd3d.app

If you don't sell your bitcoin for lifetime, then how you will benefit from using and investing on it? Why you need to earn through bitcoin if you don't want to spend even a single penny from the profit you earned? Not a good idea. I think, if you have bitcoin, you should hold it but you need to have a time frame if when you are going to sell it. Bitcoin > Investing > Holding > Earning > Spending. But of course, don't spend all your bitcoins, still hold a small or half of it to make another profit in the future.

shield132

hero member

Activity: 2352

Merit: 905

Metawin.com - Truly the best casino ever

Quote from: Joshua01 on June 29, 2021, 08:20:52 PM

I just want to see what the general consensus is about selling Bitcoin. The well-known Bitcoin advocate, Mr. Michael Saylor, has said that you should never sell your Bitcoin, you should hold it for a lifetime. He believes that when you sell bitcoin, you will be taxed, but if you hold it, you can borrow bitcoin at a good interest rate (tax-free). Platforms such as Block Fi provide such services.

What do you think of this problem? If I double my investment during the next bull market, then for liquidity purposes, I will most likely not sell a bit. I really like Bitcoin and its direction of development, so regardless of short-term price fluctuations, I plan to invest in the long-term.

If you are a billionaire and never spend a cent from your wallet, then you won't be even a little different from the poor. So, if you are going to never sell your Bitcoins, then just don't buy them and let the regular users to use them.
And taxes, there are countries where you can receive the money and don't get taxed. In some countries, the money received from the foreign countries isn't taxed, doesn't matter whether it's bitcoin, other crypto or fiat. So, don't worry too much about tax.

And, finally, why to stick with bitcoin? Don't you think that there are other good alternatives or will be in the future?

Topic: Never sell your Bitcoin? (Read 2950 times)