Shall We Hold Our Bitcoin Like Gollum? - page 2.

imstillthebest

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Quote from: tulpash on September 08, 2021, 09:17:19 AM

Many of us are hoarding more Bitcoins over time. That is also the reason why Bitcoin dropped sharply on exchanges
transactions in the past few years.
Will we sell out of Bitcoin one day? Like how the ring was thrown into volcanic lava.

isnt that a good thing ? it will be more scarce and the value of btc will increase and when it increases it will give people a reason to sell .
im not familiar on the ring movie but if we are a bitcoin holder , we must hold our btc securely because its value is growing and when the time comes that were going to sell it , we dont rush and thinking of selling it all but we likely keep some for the future .

dupee419

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Can't rely on everyone's opinion here but only to a few, you can't hodl on forever and I honestly think that taking profit from what you hodl is fine, you don't have to start hodling like Gollum, it's unnecessary, well, unless you can actually hodl without having any kind of financial problem, then you can hodl like Gollum. Grin

Sanugarid

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Quote from: tulpash on September 08, 2021, 09:17:19 AM

Many of us are hoarding more Bitcoins over time. That is also the reason why Bitcoin dropped sharply on exchanges
transactions in the past few years.
Will we sell out of Bitcoin one day? Like how the ring was thrown into volcanic lava.

It's actually a good move to hold BTC knowing it would be big in the future but there's nothing wrong about taking profit sometimes especially if you're an experienced trader. You could sell your BTC at a high price and buyback when the price of BTC dips and do the same thing until the number of your BTC increases

Vickysagar

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It's pointless to sell BTC now if you don't need it for some emergency. But i don't like this comparsion. Most of us know what and why are we doing this and will sell BTC when there is right moment.

Desmong

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You can't be holding Bitcoin like the said Gollum who had precious ring he had kept to himself and never wanted anybody to get hold it. Maybe you should never dare holding Bitcoin like Gollum because the market is unpredictable which will be nice to always take profits whenever you think it's the right time. The market keeps on falling and rising without we knowing the next move it's gonna take...or do anyone knows? Hold wisely mates!

James Watson

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The reason for this is quite reasonable, and the plan may not keep up with the changes.
You can set your own income goals and choose to sell when you reach them. The profits you get can take your family to enjoy life, but it takes time and patience to achieve satisfactory income.
As long as you wait patiently and not be manipulated by emotions, the future of Bitcoin will not disappoint people.

Kakmakr

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The ideal scenario would be for people to hoard about 20% of all the bitcoins they buy and then to use 80% of the bitcoins to pay for everyday things like groceries, gas and utilities.

This is obviously not the case at the moment, because merchant adoption is still slow and most governments has not allowed Bitcoin to be legal tender. (So governments are putting the brakes on Bitcoin adoption as a payment option)

So the best alternative now, will be to find as many merchants and retailers that accept Bitcoin as a payment method and to support them.... and then hoard whatever is left. Wink

MIldic1c

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The correct choice is definitely to hold bitcoins for a long time. If you want to get a very substantial profit, you must insist on holding bitcoins for a long time, but you must do your best to buy bitcoins. Don't put too much pressure on yourself, otherwise your own reasons It will force you to sell Bitcoin to relieve the current pressure, make a plan for yourself, and choose to sell when you reach your point of profitability.

mksundip

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Quote from: tulpash on September 08, 2021, 09:17:19 AM

Many of us are hoarding more Bitcoins over time. That is also the reason why Bitcoin dropped sharply on exchanges
transactions in the past few years.
Will we sell out of Bitcoin one day? Like how the ring was thrown into volcanic lava.

people aren't going to keep hoarding bitcoins for long. they keep selling a little of their asset, and when the price drops they buy. so people will not hoard long term. they will still sell it trust me

lienfaye

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You know we have our own way of thinking. Some people might prefer to hold for long period, some are taking profit at times while continue holding and some are using it as currency for their own convenience.

So as you can see it depends on what we prefer to do to our bitcoin. We cant coerce anyone to hold, buy or sell because its our own decision and no one can dictate us on what to do.

Just do what you think is right and more beneficial for you.

EewardDean

newbie

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Bitcoin is the best investment I think is currently the best investment, and it is also a considerable return in my opinion.
Although Bitcoin is volatile, it is normal. Don't panic and make the wrong choice. Then according to your financial ability, you can choose to continue buying.

Viscore

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Quote from: kanayaTabitha on September 12, 2021, 10:43:11 AM

Quote from: Zanab247 on September 12, 2021, 10:38:01 AM

It is your choice to sell or to hold like gollum. If you release your coins to market today, you will not regret it because the price of bitcoin is still good to make a good profit.
Since the price of bitcoin is not too stable yet, it is advisable to users to sell and make more Profit before the price of bitcoin decrease to $30k soon. It is better you sell and make something from your investment than to hold it long and lose more Profit.

But every decision that we will made, never do all in in every trade because the price of bitcoin or most of cryptocurrency is unpredictable.
Just do it like 5% 5% in every decision we made for selling or for buying just in case to secure our assets from losing too much.
Planning for long time holding is also good and keep focus on buying more when the market is like current condition but it only works if we are planning to hold for more than 4 years.

I never intend to hold bitcoin like gollum because i have my own set of plans when to buy and when to sell. I do buying everytime the market shows real dips because there are times that they eventually recover again so the price is not really in its dip. And when i think i need more profits for my own satisfaction then i really do selling when i see good opportunity. No one's gonna stop me because i have set already my plan and i chose to stick on it. Holding like gollum is only good if you are sure already with the coins you want to hold.

so98nn

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I dont think that this will be quick move like that. The cycle of buying and selling will keep going forever the way it happens today and was happening yesterday. Lets not forget we have all the time in the world to mine more and more bitcoin since network difficulty is growing day by day which will keep minting more bitcoin over time. This will also drive the prices to next level and thus peeps will keep selling the bitcoin that they are holding so that they can book the profits.

When they sell, somebody will be buying it from them and that would be the first day for that person to hold and then onwards he will keep holding. This, now imagine on huge scale throughout the world, every second! Its big cycle and it won't be altogether sell.

Remember:
If you are selling, then someone is buying it.

kanayaTabitha

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Quote from: Zanab247 on September 12, 2021, 10:38:01 AM

It is your choice to sell or to hold like gollum. If you release your coins to market today, you will not regret it because the price of bitcoin is still good to make a good profit.
Since the price of bitcoin is not too stable yet, it is advisable to users to sell and make more Profit before the price of bitcoin decrease to $30k soon. It is better you sell and make something from your investment than to hold it long and lose more Profit.

But every decision that we will made, never do all in in every trade because the price of bitcoin or most of cryptocurrency is unpredictable.
Just do it like 5% 5% in every decision we made for selling or for buying just in case to secure our assets from losing too much.
Planning for long time holding is also good and keep focus on buying more when the market is like current condition but it only works if we are planning to hold for more than 4 years.

Zanab247

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It is your choice to sell or to hold like gollum. If you release your coins to market today, you will not regret it because the price of bitcoin is still good to make a good profit.
Since the price of bitcoin is not too stable yet, it is advisable to users to sell and make more Profit before the price of bitcoin decrease to $30k soon. It is better you sell and make something from your investment than to hold it long and lose more Profit.

tulpash

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Quote from: swiftxi on September 10, 2021, 12:35:37 PM

I love your idea. The Ring and Sauron are one. Cheesy

Coyster

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In my opinion, Bitcoin users who prolly have a stable source of income in RL that can handle their needs and maybe even wants as well should not sell their coins, and even if they will, it should basically just be a fraction of it, not all. I mean, many fiat currencies are struggling with Inflation, so really, selling your Bitcoin for a devaluing currency when you don't actually need the money may be counterproductive in the long run.

Of course it's not possible to hodl forever, but tbh, in the future, if mainstream adoption becomes a reality with Bitcoin becoming a legal tender almost across the world, then users may then not even have to sell any of their coins, but just hodl as an investment and also use it comfortably as a currency. But having said that, in the Bitcoin network, control is with the users, thus do with your funds as you please.

Quidat

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Quote from: passwordnow on September 11, 2021, 03:40:33 PM

We will. We're only waiting for the possible highest price that it can make. Someone is aiming for $100k until he sell and gets out of the market, some are for $500k-$1M.
It's all about how much you project bitcoin in the future but we can sell as much as we can. But we're about to stay even if we sold for the retirement since I've seen a lot of folks were saying that.

If its not really needed for us to sell then we would simply just hold it but if there are instances on where we do need to sell for some other personal purpose then its not bad to sell it off.
There are really instances or situations in life which we cant really avoid and its a situational thing.Holding like Gollum isnt bad as long you dont compromise something important like
health or emergencies because whats the use of money if you are totally disabled,dead,situations when its too late just because you do strictly hold.

Spack17

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We shouldn't hold our coins like Gollum. Because there will be no meaning in HODLing a coin then. HODLing doesn't mean that you will keep your coins forever. You should be able to sell your coins sooner or later. Maybe you can set a price goal or not, but it is important to sell at some point.

Wawa2013

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Quote from: Kasabus on September 11, 2021, 05:53:42 PM

Quote from: Rengga Jati on September 11, 2021, 03:40:37 PM

Quote from: tulpash on September 08, 2021, 09:17:19 AM

Many of us are hoarding more Bitcoins over time. That is also the reason why Bitcoin dropped sharply on exchanges
transactions in the past few years.
Will we sell out of Bitcoin one day? Like how the ring was thrown into volcanic lava.

Even I am a holder, I will take certain times to sell my Bitcoin (at least some) to take profits.
Actually, being consistent to have more and more Bitcoin for investment is interesting. However, at least, taking profits is also important, at least for me personally.
And every time that we have the moment to buy again the coin, we can buy it and make it as an investment again.

It's not that we are only here to keep hodling our coins and continue seeing its price continue to grow. Our main goal which is to make profits and enjoy it should not be put in our last option. Atleast once in a while we were able to enjoy the profits that we have been working for so long. And once its done, then maybe re invest again for future profits.

I know that most of us have been so greedy in hodling our coins longer for better prices but don't tell me if emergency case suddenly arise, won't you sell some of them? The choice may still vary at some point at a time.

I believe most people invest in Bitcoin to be able to make a profit, therefore if there is an opportunity to take profit, it should be done. Because
we should not hold Bitcoin forever, but hold Bitcoin until it reaches the target we want. So don't be too greedy when investing in Bitcoin, I even
if the price of Bitcoin pumps suddenly like when Bitcoin rises to the price of $ 52k, I sell the bitcoins that I own partially. So when the Bitcoin price
drops to what it is now to $45k, I can buy more Bitcoins. It's true that the longer we hold Bitcoin, the bigger the profit we generate, but it's good
to occasionally take profit. So in my opinion a healthy investment in Bitcoin, must know when to enter the market and when to leave the market,
not holding Bitcoin for as long as possible.

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