Never sell your Bitcoin? - page 8. | Bitcointalksearch.org

perfect999

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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 all depends on the advantages one gets by holding the coins. If bitcoins can be used to take fiat loans, then I am sure anyone would be glad to hold bitcoins as an asset.

You hold bitcoins --> the values go higher with time

You sell --> you pay taxes + you are losing your portfolio

you hold --> you can take loans by putting those bitcoins as collateral + you manage to hold your bitcoins for a longer period which also means more value over time

The only problem with the above assumption is that there are not many platforms where you get loans by giving out bitcoins at reasonable rates.

randegibran

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maybe we also have to be a little smarter in starting this investment, we also have to be observant in seeing an opportunity that can benefit us, because in a business profit is really needed by a business person, but for me if the price is good then we we can sell it with a little bit we have returned the previous capital, and most importantly we must not be greedy in starting any business

ndalliard

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Quote from: AakZaki on July 07, 2021, 11:04:23 AM

Quote from: worle1bm on July 05, 2021, 08:40:24 AM

~snip~
Btc dormant address would increase so as to keep it normal we need to sell off at some point.

Yep, because the volatility will never stop. Prices go up prices down there will always be. So I think holding on forever is not right. I have analysis with my ruler, I have pegged some increase and some decrease when the target comes I have to do that strategy. Although not accurate but at least I have assets that continue to grow. Also with my technique I can feel more at ease with the total amount of assets I have in USDT because the movement is not like bitcoin.

i have a hart time understanding what you are saying here. is your argument, that because it is volatile, you will not hold forever and sell?

you could also see it this way: prices go up and prices go down (measured in bitcoin) - but bitcoin always keeps the same - 1BTC=1BTC

AakZaki

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Quote from: worle1bm on July 05, 2021, 08:40:24 AM

~snip~
Btc dormant address would increase so as to keep it normal we need to sell off at some point.

Yep, because the volatility will never stop. Prices go up prices down there will always be. So I think holding on forever is not right. I have analysis with my ruler, I have pegged some increase and some decrease when the target comes I have to do that strategy. Although not accurate but at least I have assets that continue to grow. Also with my technique I can feel more at ease with the total amount of assets I have in USDT because the movement is not like bitcoin.

ndalliard

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Quote from: iTradeChips on July 07, 2021, 05:00:29 AM

More and more people are seeing the importance of Bitcoin and are now into buying Bitcoin and not doing trading. We have all these talks with the crypto community in our place and almost all of them are saying the same thing and that is to buy and buy Bitcoin and not to sell it. If you trust the crypto currency then you should be able to invest all of your money and wait for the best payday after many years. I want to be sure that we can also pass this over to many people here. I seldom give my opinions but Bitcoin is a good cryptocurrency.

i stopped using words like ~~cryptocurrency~~ and ~~crypto community~~, i think they are misleading

something else about this discussion: are we talking about selling fiat when we buy a house, food or a car? i mean technically it is selling, but i guess in this context selling is meant to exchange it for dirty fiat. and if this is the case my answer is pretty clear: i will never sell my BTC

iTradeChips

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Quote from: ?? on ??

We don't have tax in Bitcoin and we are not rich country. Yeah, if I have Bitcoin. Definitely I won't sell my Bitcoin because this coin is so much impressive and dominant that couldn't be eliminate now and forever. Bitcoin is for long term holding not for short term. Buy and hold would be a good strategy to save more Bitcoin.

More and more people are seeing the importance of Bitcoin and are now into buying Bitcoin and not doing trading. We have all these talks with the crypto community in our place and almost all of them are saying the same thing and that is to buy and buy Bitcoin and not to sell it. If you trust the crypto currency then you should be able to invest all of your money and wait for the best payday after many years. I want to be sure that we can also pass this over to many people here. I seldom give my opinions but Bitcoin is a good cryptocurrency.

liao chandra

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I regret selling my bitcoin. If I could repeat the past. maybe now I'm Becoming a millionaire. Now I have learned to be patient and not sell my bitcoin because I believe the price of bitcoin will continue to rise.

ropyu1978

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Quote from: oemar bakrie on July 05, 2021, 07:55:14 AM

it all depends on individual needs..
if only to store bitcoin and not be sold it is necessary for people who have large capital or who have more than one asset other than bitcoin..
because I personally will definitely sell some if I have because I get bitcoins just following the bounty campaign..

we need to eat and drink, if we feel enough with the money we have for daily needs, we better save bitcoin, and only sell it after the price goes up again, because we know that bitcoin prices are not always low, don't believe other people's posts, but believe in yourself, if you feel confident then sell it,

andriarto

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Quote from: Distinctin on July 06, 2021, 06:31:15 PM

Quote from: pixie85 on July 06, 2021, 05:17:49 PM

Quote from: Quidat on July 06, 2021, 03:25:09 PM

Im just really amazed on those hodlers which even up to now they havent sold out even a single coin.

That's because you've never had the mindset of a millionaire. I don't blame you because it's hard to put yourself in someone else's shoes.

What Michael is talking about is holding an asset that grows in value as long as you can because it's going to give you more every year and if you die it's going to give this value to your children or grandchildren.

It is not just because we have a mindset of becoming a millionaire and we have to hold for a long time. There are a lot of factors why many aren't able to hold, like if you only have limited resources and don't have strong financial capabilities.
We can't it in our mind to hold for 5 years, 10 years, or even more but the problem is we are lack of execution, and most of the time our fears got triggered to sell our holdings.

on the other hand we have to know the right time to sell it, and this is what no one knows in advance how long the bullrun will last again. therefore if we look at the price of bitcoin which used to fall in the range of $4K until now for 4 years, then what percentage of the profit will we get. and I think if we never sell it, then later it can also be inherited

arwin100

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Quote from: Distinctin on July 06, 2021, 06:31:15 PM

Quote from: pixie85 on July 06, 2021, 05:17:49 PM

Quote from: Quidat on July 06, 2021, 03:25:09 PM

Im just really amazed on those hodlers which even up to now they havent sold out even a single coin.

That's because you've never had the mindset of a millionaire. I don't blame you because it's hard to put yourself in someone else's shoes.

What Michael is talking about is holding an asset that grows in value as long as you can because it's going to give you more every year and if you die it's going to give this value to your children or grandchildren.

It is not just because we have a mindset of becoming a millionaire and we have to hold for a long time. There are a lot of factors why many aren't able to hold, like if you only have limited resources and don't have strong financial capabilities.
We can't it in our mind to hold for 5 years, 10 years, or even more but the problem is we are lack of execution, and most of the time our fears got triggered to sell our holdings.

I avoid to hold if I can't afford to lose since I can't really afford to hold for more longer years or even 4 years timespan and its so stressful since I don't have big capital to cover up that what supposed to called lose if we buy at the peak so we really need to prefer for something good since we need to think for betterment. But if you are rich then maybe holding is good for that but for low baller guys then day trading is the best for start since if they can learn then there profits can be save for long term hold or for rolling it.

Distinctin

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Quote from: pixie85 on July 06, 2021, 05:17:49 PM

Quote from: Quidat on July 06, 2021, 03:25:09 PM

Im just really amazed on those hodlers which even up to now they havent sold out even a single coin.

That's because you've never had the mindset of a millionaire. I don't blame you because it's hard to put yourself in someone else's shoes.

What Michael is talking about is holding an asset that grows in value as long as you can because it's going to give you more every year and if you die it's going to give this value to your children or grandchildren.

It is not just because we have a mindset of becoming a millionaire and we have to hold for a long time. There are a lot of factors why many aren't able to hold, like if you only have limited resources and don't have strong financial capabilities.
We can't it in our mind to hold for 5 years, 10 years, or even more but the problem is we are lack of execution, and most of the time our fears got triggered to sell our holdings.

pixie85

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Quote from: Quidat on July 06, 2021, 03:25:09 PM

Im just really amazed on those hodlers which even up to now they havent sold out even a single coin.

That's because you've never had the mindset of a millionaire. I don't blame you because it's hard to put yourself in someone else's shoes.

What Michael is talking about is holding an asset that grows in value as long as you can because it's going to give you more every year and if you die it's going to give this value to your children or grandchildren.

Quidat

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Quote from: nurilham on July 06, 2021, 02:08:18 PM

I won't follow Michael Saylor's suggestion totally because I never plan to invest all of my money forever. There should be time to take profits, we already determined it before we bought the Bitcoin. That's why we should have a target in our investment, for example planning a certain rate to sell Bitcoin in the future. Or planning a specific time to sell the Bitcoin (example: holding 1 year or two years). This is needed to accumulate how successful our investment in Bitcoin.

When it comes to investment decisions then everything would really be depending on us and its true that we should really have that selling point but there are people who do tend to hold no matter what.
If we dont need money then its up to ours on holding for several years or even as long Bitcoin do lived.Even myself is longing to sell after 1 year from the day i do accumulate because i cant just
afford to hold like forever because i do still need money out of my investment so its up to someones preference because we do have different targets.
Im just really amazed on those hodlers which even up to now they havent sold out even a single coin.

nurilham

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I won't follow Michael Saylor's suggestion totally because I never plan to invest all of my money forever. There should be time to take profits, we already determined it before we bought the Bitcoin. That's why we should have a target in our investment, for example planning a certain rate to sell Bitcoin in the future. Or planning a specific time to sell the Bitcoin (example: holding 1 year or two years). This is needed to accumulate how successful our investment in Bitcoin.

jitjitmew1

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i trust and keep telling myself that i will never sell...but i'm always afraid if it really hits the 1M mark like people say it will
i fear it will be stronger than me when that time comes.if it ever happen of course Undecided

TheGreatPython

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Quote from: iTradeChips on July 06, 2021, 06:44:43 AM

Well, the thing here is, I really do not care how others would deal with their Bitcoins. If they HODL it then go ahead, let them be. I will not interfere nor tell them not to do it. Let them sell it, let them hold it, let them give it away to their girlfriends. You should not be forcing your opinions to the others if that is what they want and if that is what they need to do with their Bitcoins, after all of the factors that they can consider, it gave them that decision to do so on their coins then by all means.

No one is forcing their decisions and you are right different people have different cases and some might be making more money by mere trading while others may be having the best profits by just holding it. I have seen traders making a good amount of money by short-selling bitcoins when the price is bubbled up and is expected to go down. Then there are some who don't want to get involved in all this because they are not good at reading charts and they just hold and save for the long term.

Quote from: CryptoStar19 on July 06, 2021, 07:19:32 AM

So long as the narrative around bitcoin is a digital store of value, HODLing super long term would the preferred strategy.

We cannot expect everyone to have capital big enough to avoid selling their coins. A lot of people are making a living by selling bitcoins so yeah overall the value lies in holding but sometimes we do need to sell them.

ndalliard

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Quote from: ?? on ??

Long term run and if the timing is right, earning from bitcoin investment is very possible. Buy with low value then
wait for some time and sell it with good amount of profits.

i don't understand why someone would sell the best money to "take profits" (not talking about selling to pay for bills, a house or whatever). also if the timing is right, that is a big if - not worth it imo

jaminunit

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You could borrow against your savings. they way you don't sell but have liquidity

hitsnorth

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I'm going to sell most of my BTC when it hits 150k. If it drops i'll buy some more and wait until 250k. I want to buy a house and maybe a car with my income from BTC.

ndalliard

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Quote from: CryptoStar19 on July 06, 2021, 07:19:32 AM

So long as the narrative around bitcoin is a digital store of value, HODLing super long term would the preferred strategy.

look into the history of money, is has to be first store of value an then it can transition to medium of exchange

Quote from: Vishnu.Reang on July 06, 2021, 08:44:35 AM

Quote from: iTradeChips on July 06, 2021, 06:44:43 AM

Well, the thing here is, I really do not care how others would deal with their Bitcoins. If they HODL it then go ahead, let them be. I will not interfere nor tell them not to do it. Let them sell it, let them hold it, let them give it away to their girlfriends. You should not be forcing your opinions to the others if that is what they want and if that is what they need to do with their Bitcoins, after all of the factors that they can consider, it gave them that decision to do so on their coins then by all means.

Most of those advocating for HODL doesn't really care about the other users. They are just afraid that if a lot of the users sell their coins, then the exchange rates may fall. And the same people who are advocating for HODL will dump their coins at the first opportunity, if there is a need. Personally I would go for an ideal mix of profit booking and long term holding. There needs to be a good balance between these two. In such cases, you will not incur big losses if Bitcoin suddenly becomes worthless, and at the same time you will be left with enough coins in case Bitcoin appreciates by 10x or 20x in the future.

that's not what i experience - i pay and earn in bitcoin and i don't care what you do

beeing normal, keeping the balance, sounds boring

edit: typo

Topic: Never sell your Bitcoin? - page 8. (Read 2950 times)