Never sell your Bitcoin? - page 12. | Bitcointalksearch.org

molsewid

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Quote from: farhanabd88 on June 30, 2021, 08:51:39 AM

Bitcoin is the first blockchain based decentralized crypto currency which has a large strength in the market so day by bay the price of bitcoin is increasing. If we study last few years then we can see that in 2015 when i introduce with bitcoin then i was seen that the price of bitcoin was $400 but in 2021 bitcoin hits plus 60k usd which is 150 times just in 5 years. So there is no other real way we can earn 150 times just in 5 years. For that reason i will tell that never go for sell bitcoin just hold for 10 or 15 years and take benefits.

Looking back to the price of bitcoin when I first encounter this cryptocurrency it was only have a value of $7K that time which is already 17.5% up than the first bitcoin's market price and I never though that after 5 years it will going to hit a ATH of $60k and note it happened by the 1st quarter of the year which is not the usual market rise of bitcoin because we used to watched bitcoin price dropped every 2nd month of the year after it hits its ATH from the previous year. SO yeah, Mr. Michael Saylor have a point of hodling your bitcoin because there's a worth in hodling a bitcoin.

Masplanc

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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.

It depends on the amount of Bitcoin. If the Bitcoin available is huge there is no need selling it because if the market price drops , the Bitcoin will also drops but theirs no tendency that all the Bitcoin will loss.

But in a case where the Bitcoin amount available is not much and the market is going down gradually. If the Bitcoin is not been sold it could result to loss that you can lost everything. In this case not selling Bitcoin is somehow risky

Shenzou

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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.

What is the point of having it then, if you don't use bitcoin as a payment method or you don't use as investment and just let it sit there for a very long time with no purpose you will just be wasting your money, it is good to always think about the future but the future is unknown so you should try and enjoy the present and have fund while you can because you want be able to live for ever, and bitcoin and crypto are anonymous so you won't be taxed if they don't know they you have it.

gundala

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Quote from: swiftbits on June 30, 2021, 02:28:58 AM

It is still our choice of preference; you could use it for accumulating your goals savings then sell it.
You could also invest it for long-term gain. Bitcoin is still young; more platforms will adopt this technology as an alternative payment method.
If the time comes, it could be a convenient asset for doing transactions. KEEPING IT is still a win; the value will still increase in time.

in some media about investment and technology also many say that this is still in the early stages, there will be many developments and even greater adoption in the future. Seeing quite positive developments lately I have become more and more interested in investing in btc for the long term. look... more influencers and artists are involved, adoption is getting wider, conventional projects are starting to look at bkockchain and crypto so I don't want to miss this.
there's still plenty of opportunity, but make sure you take it into account, dwyor. short or long term investment, sell or hold, is entirely your control. understand fundamentals and technical analysis, make your own decisions so you don't get carried away easily by the market.

Kasabus

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Quote from: nhaila on June 30, 2021, 02:55:03 PM

Quote from: amihada on June 29, 2021, 10:32:58 PM

many people spend their money to buy bitcoin with the aim of making a profit in the short term they don't think bitcoin is for the future, but only people who know the future profit is bigger they will hold bitcoin in the long term.

Of course you are absolutely right because Bitcoin not a short term investment coin but it's a popular Long term investment coin. If anyone wants to invest in Bitcoin, he should invest more than 5 years.

I believe bitcoin will be very profitable if you chose to invest in it long term but that doesn't mean that you will just hodl bitcoin for the rest of your life. Bitcoin will lose its nature as a currency if you never spend it and you won't enjoy your profits if you just keep it in your wallet.

I myself is also hodling bitcoin which i can prepare for my retirement but it won't make me less as an investor or hodler if i spend some of its profits when times gets rough for me. I am investing for profits that i can make in the future and once i have it, i will surely enjoy every bit of it.

boyptc

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It's his opinion and many of us here got the same. But if you have to sell, you don't have to feel sorry upon doing it. Although we advocate that one should invest in bitcoin.

But, it's our decision if we're going to sell it if there are things that we want to purchase through fiat upon selling. Just make a decision that you'll have a dedicated amount good for holding for a very long time.

pixie85

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Quote from: mckinleeanael07 on June 30, 2021, 10:56:14 AM

Once I accept a long term investment I myself will never sell my BTC at today's price because I believe BTC will reach the next top at $100k there is no reason for me to have to sell my BTC now and i believe in the future of BTC Wink

You're missing the point. The deal is not to sell your bitcoin at all, not to wait for a given price like 100 thousand.
If people set up to sell at 100 we won't get there because there will be so many sellers trying to outsmart each other.

You can do like Michael Saylor and borrow with bitcoin collateral, but you can also spend bitcoins instead of selling them and skip taxes Wink

nhaila

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Quote from: amihada on June 29, 2021, 10:32:58 PM

many people spend their money to buy bitcoin with the aim of making a profit in the short term they don't think bitcoin is for the future, but only people who know the future profit is bigger they will hold bitcoin in the long term.

Of course you are absolutely right because Bitcoin not a short term investment coin but it's a popular Long term investment coin. If anyone wants to invest in Bitcoin, he should invest more than 5 years.

Dread Pirate Roberts

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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.

All based on trust and confidence in bitcoin. many believe the price of bitcoin will be much higher than it is now and it is very possible. but everyone has their own way. some like short trading and some like to do long term investing, if I myself can be both. the important thing is to remain consistent and not out of crypto market even in a loss condition,

mckinleeanael07

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Once I accept a long term investment I myself will never sell my BTC at today's price because I believe BTC will reach the next top at $100k there is no reason for me to have to sell my BTC now and i believe in the future of BTC Wink

perryxi2

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I don't know what anyone is talking about if BTC doesn't reach my target I never sell my BTC for less than my target price

kryptqnick

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If you never sell Bitcoin is the meaning of never using it and hodling eternally, it's as good as not having any. If you don't use Bitcoin (directly or indirectly) at any point to exchange it for goods and/or services, it's just some symbols on your display which barely give you anything. As for taxation, ranochigo rightly pointed out that it depends on the location. Some countries have capital gains tax on Bitcoin, others have property taxes or income taxes which are applicable. In my country, you can buy or sell without any taxation because Bitcoin is not regulated yet and the authorities show no interest in taxing it for now.

decodx

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Saving Bitcoins and/or actively trading them makes sense for those who understand the risks and dangers of Bitcoin. However, people with less Bitcoin knowledge may be better with the cautious approach.
We've seen many stories from people who had very little Bitcoin and put a great deal into it but lost it all because of their own ignorance and some bad decisions. I've heard stories of people losing hundreds of thousands of dollars through hacking, theft or even incompetence.

bitzizzix

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Quote from: radjie on June 30, 2021, 08:27:39 AM

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.

maybe what Mr.Michael Saylor said don't sell Bitcoin when the price is low, because if we hold it for life we will not feel the long-term benefits of Hodling. it's better to be able to take advantage of the moment to be able to make a profit than to hold it for life because it's the same as burning the bitcoins that we have

Burning the bitcoins that we have unless we sell when the bitcoin price is in the red or down which will make things worse, it is better to invest bitcoins for the long term indefinitely only to sell when the price rises as expected and profitable.
Everyone has ownership rights and has a target or interest needed to make a sale even if the profit is small or large, the most important thing is to keep using bitcoin again by buying when it is low and selling it back when the price goes up and so on.

isaac_clarke22

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Quote from: mk4 on June 29, 2021, 10:02:50 PM

~

Now someone mentioned it.
Though the decision of investing to a coin is the one that is subjective, because surely someone would refer you to buy some of "this coin" before you even know that such coin exist. Through skepticism, you wouldn't be driven by these people to invest directly just because a certain person or even a celebrity in the internet said it.

virtualdn

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Quote from: farhanabd88 on June 30, 2021, 08:51:39 AM

Bitcoin is the first blockchain based decentralized crypto currency which has a large strength in the market so day by bay the price of bitcoin is increasing. If we study last few years then we can see that in 2015 when i introduce with bitcoin then i was seen that the price of bitcoin was $400 but in 2021 bitcoin hits plus 60k usd which is 150 times just in 5 years. So there is no other real way we can earn 150 times just in 5 years. For that reason i will tell that never go for sell bitcoin just hold for 10 or 15 years and take benefits.

Agree, I'm in since 2013 and never sold a satoshi. It was and it is pretty hard not to do it. However, sometime in the future I'll have to sell a small amount as I also have needs. Hopefully will buy them back after.

farhanabd88

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Bitcoin is the first blockchain based decentralized crypto currency which has a large strength in the market so day by bay the price of bitcoin is increasing. If we study last few years then we can see that in 2015 when i introduce with bitcoin then i was seen that the price of bitcoin was $400 but in 2021 bitcoin hits plus 60k usd which is 150 times just in 5 years. So there is no other real way we can earn 150 times just in 5 years. For that reason i will tell that never go for sell bitcoin just hold for 10 or 15 years and take benefits.

JerryKin

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There's no single rule or formula to earning when it comes to Bitcoin, as there different reasons for investment and hence different duration of investment some long some short depending on the purpose of investment.

To never sell your Bitcoin may not be the best advice for you if your Bitcoin is a means to meet your daily needs. You would have to actively trade it.

On the flip side, never selling your Bitcoin could be the best decision you ever made your entire life. If all you want and have in mind is to build wealth for yourself.

radjie

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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.

maybe what Mr.Michael Saylor said don't sell Bitcoin when the price is low, because if we hold it for life we will not feel the long-term benefits of Hodling. it's better to be able to take advantage of the moment to be able to make a profit than to hold it for life because it's the same as burning the bitcoins that we have

Maslate

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Quote from: ropyu1978 on June 30, 2021, 08:03:05 AM

everyone has their own way of managing bitcoin, differences of opinion are bound to happen, every step taken is definitely their goal for good, some are storing bitcoins some are buying and selling, it all depends on the owner, we can't regulate them, we I can only give the best advice, in my opinion if we don't sell bitcoin it's good, but if finances are running low, we are forced to sell it..

Exactly, that is sometimes we consider our situation as well. Not all the time our finances are good that we keep holding, but sometimes we have to sell some of them. In fact, we are investing because we are expecting returns, not just to hold them forever. If we sell it now because that is our decision, people can do anything they want and we have no right to stop people and acting as their advisors like what Mr. Michael Saylor does.

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