Topic: Never sell your Bitcoin? - page 13. (Read 2950 times)
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..
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.
nice sentence that is 'never sell your Bitcoin'...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.
I will continue to hold my Bitcoin until I really need money to sell it. I'm currently putting my BTC in the lending program on Kucoin, I hope I can get a little profit from there.
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'll be taking consideration of the current situation, selling is not really ideal but selling in general regardless if it's bull run or bear market, you have all the power to decide what to do. There are ways still where you can sell your bitcoin tax free, I think most of the time it is just gas fee that you need. If ever there's a tax for your transaction, for sure it wouldn't be that expensive. Holding is very important right now because the market is currently experiencing a lot of issues and crisis, just stay firm with your investments, our time will come again and for sure it will be worth it. 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.
Tbh at this point if you need money it would be better to take a loan then selling your BTCs. You will return the loan pretty fast. Your BTCs worth so much more than crappy FIAT.
I agree with never sell your bitcoin, but that will depend on your needs. If you need money, you can sell your bitcoin and if you still have money from other sources, you do not have to sell bitcoin. I do not like to borrow money from other third parties because I will be in trouble. After all, paying the borrowed money will not be easy. I prefer to use the other way to earn more bitcoin and make money to have bitcoin while I can also sell some part of bitcoin to fill my daily needs.
Never sell your bitcoin word is kinda crazy thing we do if we have limited capital since its like risking all what we have but if you are rich then you can actually do what you want so we must balance all depends on our capabilities since not everyday market is totally okay. And for sure we will get a head ache especially if we but at the wrong time then suddenly heavy bear market season hits.
I agree with never sell your bitcoin, but that will depend on your needs. If you need money, you can sell your bitcoin and if you still have money from other sources, you do not have to sell bitcoin. I do not like to borrow money from other third parties because I will be in trouble. After all, paying the borrowed money will not be easy. I prefer to use the other way to earn more bitcoin and make money to have bitcoin while I can also sell some part of bitcoin to fill my daily needs.
Sell if you want or Hold it if you want. That is your Bitcoin and you have the right to what you want to do with your Bitcoin.
If we are afraid to be taxed because we are selling Bitcoin, supposedly we should not spend our fiat money instead because we are already been taxed for every transaction we have made. That is just the same, honestly.
@OP, if you will follow Mr. Michael Saylor, it means that he already manipulates your mind. Don't get me wrong but he was trying to control you.
If we are afraid to be taxed because we are selling Bitcoin, supposedly we should not spend our fiat money instead because we are already been taxed for every transaction we have made. That is just the same, honestly.
@OP, if you will follow Mr. Michael Saylor, it means that he already manipulates your mind. Don't get me wrong but he was trying to control you.
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.
We all have our own opinion and we should respect each others opinion.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.
But for me most of us are investing to gain profit so when we reach the point that we are already contented with what we gain we would sell it and take our profit.
What's the point of HODLing it for a lifetime? Who would use your investment? Who would benefit from it?
If people are experienced in the crypto world, it is definitely not possible to sell all of their Bitcoins. Because they already know the benefits that
Bitcoin provides, they definitely prefer holding Bitcoin instead of spending it. But some peoples definitely want to enjoy the results obtained
from investing in Bitcoin, surely they will sell some of their Bitcoins to buy some luxury items that may have been a dream for a long time.
And if someone does that, it's not a problem, as long as he knows the limits of Bitcoin that can be spent.
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.
We all have our own opinion and we should respect each others opinion.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.
But for me most of us are investing to gain profit so when we reach the point that we are already contented with what we gain we would sell it and take our profit.
What's the point of HODLing it for a lifetime? Who would use your investment? Who would benefit from it?
Agree. Everyone should enjoy the fruits of their labor. Buy a nice house, get a fancy car, go in your dream vacation, be happy. But never sell all your BTCs, that would be a mistake. Sell like 10-15% and if you're smart/lucky you may even buy them back.
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.
We all have our own opinion and we should respect each others opinion.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.
But for me most of us are investing to gain profit so when we reach the point that we are already contented with what we gain we would sell it and take our profit.
What's the point of HODLing it for a lifetime? Who would use your investment? Who would benefit from it?
I don't see the point of HODLing it. If everyone adopts that mindset, then Bitcoin simply wouldn't grow in the long term. How can you justify it as a currency if the value arises from its potential to supplement or otherwise replace the financial systems?
+1This reminds me of a thing I often hear (especially from non-bitcoiners) in regard to those early adopters who spent crazy amounts of BTC, like "look at that idiot pizza guy, if he saved those 10,000 BTC he would be millionaire now" not realizing that if those early adopters decided to just passively hold instead buying something and showing that bitcoin is money, we wouldn't be where we are now.
Regarding OP question, I spend BTC on the regular basis. Sometimes directly, sometimes via crypto debit card, but I do use it.
We must understand that Bitcoin is seen differently by different Investops as some have already pointed out and for me, if I can make out the market properly, I will sell high, buy low and continue to take profits in local fiat cos I don't really use Bitcoin for direct purchase.
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 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.
I won't listen to people like Michael Saylor.He is way too biased,when it comes to Bitcoin.
What's the point of HODLing your Bitcoin and never selling it?It's like having a golden treasure that is buried in your backyard and you don't sell it and use the money to buy the stuff you really need.
The country where I live doesn't have a capital gains tax,so there's no problem for me to sell my BTC.
Saylor is a die hard bull,he bet all his money on the Bitcoin price going up,so he doesn't want mass selling and a bear market.
Not just Saylor; almost anyone you ask, you'll get a similar response. And that is completely justified. We're living an epoch where Bitcoin isn't globally adopted yet and therefore, if you hold your coins, you'll most likely be richer in the future. The demanding will rise and so will the exchange rate of BTC/USD. Not to mention that comparing a long-term deflationary currency with an (soon hyper)inflated one will result in increase of its exchange rate.
I see Bitcoin as a safe haven in the long term, just as gold. It'd have the lowest risk to hold it in contrast with other cryptocurrencies. Just to mention that Bitcoin has a $650B market cap and gold $10T. Judge this and act however you believe it'll end up in the late 20s.
You're assuming people are willing to accept Bitcoin as a currency. As of now, Bitcoin is a speculative asset as you've mentioned people are encouraging others to "HODL" and not spend it. "Hodling" goes contrary to what we're trying to achieve, which is mass adoption. The only reason why Bitcoin can rise even further is if it gets accepted universally as a currency, current conditions are created by the FOMO culture as well as the institutional buyers (and Elon Musk) entering the market. I see Bitcoin as a safe haven in the long term, just as gold. It'd have the lowest risk to hold it in contrast with other cryptocurrencies. Just to mention that Bitcoin has a $650B market cap and gold $10T. Judge this and act however you believe it'll end up in the late 20s.
Given that most buyers are looking at these factors when purchasing Bitcoin, it isn't a stretch to assume that their investment choices are based on past performance of Bitcoin. Not exactly a good sign.
There will always be people willing to spend their BTC. Holding relies on that fact, including that it'll be globally adopted in the future.
That assumption will probably hold true; 500 out of 1 million Bitcoiners actively using it as a currency. If the use for Bitcoin as a currency remains small, and people are still unwilling to spend it, then companies wouldn't find the need to adopt it. Save for some PR and market manipulation.Perpetuating that culture is toxic to say the least. As I said, if you believe Bitcoin is a currency, then use it like one. Accumulating it and believing that it'll rise in the future is pure speculation and makes it a speculative asset, not a currency.
Nothing wrong with selling.
If you sell at the right time you can buy back later. I'm sure we will see a new ATH this year ($1xx,xxx-$2xx,xxx) and then another big correction.
When will this peak happen? When everybody is feeling great about BTC it will be a great time to sell. When everyone says Yeah yeah yeah.... when the greed index is above 80... you got the point.
Now for example is a great time to buy it.
If you sell at the right time you can buy back later. I'm sure we will see a new ATH this year ($1xx,xxx-$2xx,xxx) and then another big correction.
When will this peak happen? When everybody is feeling great about BTC it will be a great time to sell. When everyone says Yeah yeah yeah.... when the greed index is above 80... you got the point.
Now for example is a great time to buy it.
Holding on Bitcoin without selling it is good but also selling it would be better, the reason is that despite leaving it by growing it, you can make more money when you turn it up in terms of selling it
it's not that we don't sell bitcoins.but we are waiting for the price to match the purchases made, if indeed the price does not stabilize then we will be forced to take these steps to resell it, because this business process is long-term and what if we If we want it back, then we can buy it on the crypto market, we just don't want to be too hasty in determining our attitude because it will actually harm us, because this investment has an unstable value if the current price drops.then the price can increase many times. fold like it used to be
Why sell bitcoin during its dip? Hodl bitcoin until you can, hold bitcoin until you reach your desired profit, always remember that you are investing to earn money so dont invest for a lifetime invest until you earn too much money, Every dip is an opportunity, so if you still have the money then you should take that opportunity to buy more because it will benefit you a lot once it reaches another ATH.
Exactly, but there's an exception to this rule and that's the short-term people and the traders, might as well do a stop loss when the prices are going down and just go back to it when the prices are much lower and wait for it to go back up again. 
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.
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.
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.
Not just Saylor; almost anyone you ask, you'll get a similar response. And that is completely justified. We're living an epoch where Bitcoin isn't globally adopted yet and therefore, if you hold your coins, you'll most likely be richer in the future. The demanding will rise and so will the exchange rate of BTC/USD. Not to mention that comparing a long-term deflationary currency with an (soon hyper)inflated one will result in increase of its exchange rate.I see Bitcoin as a safe haven in the long term, just as gold. It'd have the lowest risk to hold it in contrast with other cryptocurrencies. Just to mention that Bitcoin has a $650B market cap and gold $10T. Judge this and act however you believe it'll end up in the late 20s.
I don't see the point of HODLing it. If everyone adopts that mindset, then Bitcoin simply wouldn't grow in the long term. How can you justify it as a currency if the value arises from its potential to supplement or otherwise replace the financial systems?
There will always be people willing to spend their BTC. Holding relies on that fact, including that it'll be globally adopted in the future.
What's the purpose of investing or buying bitcoin if we are not planning to sell it forever? I think all of us invested in bitcoin mainly because of its profit potential in the future, paying taxes is not that important for small investors. If everyone will just hold bitcoin for the purpose of putting it on platforms like Block Fi then the market will not be balanced. No one will just hold their bitcoin, there is always someone that will sell to take profit or when there are fuds spreading about it.
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