The last side of Bitcoin I've failed to look into

serjent05

legendary

Activity: 3010

Merit: 1280

Get $2100 deposit bonuses & 60 FS

Quote from: Outhue on May 22, 2023, 01:24:19 AM

As a fan of Ethereum, I've been able to make some ETH through putting my coins to work, but I've not come across putting your Bitcoin to work before.

Is all we can do as a Bitcoin investor is to HODL?

Is there any way to HODL and make more BTC?

I know that Bitcoin is a proof of work coin, but I am only curious if there is something you can do, while planning to hold your Bitcoin for 2 years or more, is there any benefit of holding and making more Bitcoin?

There are various program on exchanges that gives an interest if you apply to their program. All you need to do is deposit your Bitcoin to their program and start earning. It is one of the proven way to earn BTC while holding BTC but it is very risky because we are entrusting our Bitcoin to other hands.

Quote from: Outhue on May 22, 2023, 01:24:19 AM

Also, What are those RSK Bitcoin for? Any benefit at all?

RSK also known as Rootstock is a sidechain that is secured by the Bitcoin network.

Quote

RSK is an open-source sidechain platform that hosts smart contracts.
Smart contracts execute the terms of agreements between two parties without an intermediary.
A side chain that runs smart contracts is essential in cryptocurrency due to the high costs and sluggishness of confirming Bitcoin transactions.

You can read more about it here: https://www.investopedia.com/news/what-rsk-it-threat-ethereum/

michellee

hero member

Activity: 2604

Merit: 816

🐺Spinarium.com🐺 - iGaming casino

As a BTC investor, you only need to hold your BTC until it's time to sell when the time will be different from others. And in holding BTC, you can do other things like trading, which can make you get more BTC but it will depend on your ability to trade.

If you choose to HOLD, you will still have the same amount of BTC unless you can make a profit in BTC. But you can try staking on several sites, including exchanges, so your BTC amount will increase.

The benefit of holding BTC from now on is that you can make big profits when the market gets a bull run so you can sell it at the peak price.

jostorres

hero member

Activity: 2562

Merit: 586

Quote from: Outhue on May 22, 2023, 01:24:19 AM

As a fan of Ethereum, I've been able to make some ETH through putting my coins to work, but I've not come across putting your Bitcoin to work before.

Is all we can do as a Bitcoin investor is to HODL?

Is there any way to HODL and make more BTC?

I know that Bitcoin is a proof of work coin, but I am only curious if there is something you can do, while planning to hold your Bitcoin for 2 years or more, is there any benefit of holding and making more Bitcoin?

Also, What are those RSK Bitcoin for? Any benefit at all?

You can stake your Bitcoins with platforms such as exchanges to get some interest which is very low and not worth the time you will need to keep your Bitcoins locked. Other than that, you can use your Bitcoins to make trades on a daily basis if you know how to do that well and you can increase your Bitcoin holdings that way.

These are the two ways that one can use their Bitcoins to make more Bitcoins. If you want to do none of these two, then your only option is to simply just keep holding and sell when the price is pretty high, buy again when it's low, and keep repeating that.

FrozenBit

full member

Activity: 658

Merit: 102

PredX - AI-Powered Prediction Market

When it comes to Bitcoin lending or any investment opportunity, there is always a degree of risk involved. Counterparty risk, platform security, regulatory risk, and market volatility are some of the factors to consider. Regarding matters related to the DeFi platform, it is up to you to trust it in terms of its security and reliability by looking at the reputation review, security testing, and community feedback on the platform. So don't get too attached to it; diversify your investments, and don't allocate a significant portion of your holdings to any opportunity that can help reduce risk.

Crptomagma

member

Activity: 350

Merit: 37

★777Coin.com★ Fun BTC Casino!

Yes it is possible to make profit in Bitcoin but that is only when u hold then wait for the price to increase. And if u can't wait for the price to increase you can also trade.

kryptqnick

legendary

Activity: 3248

Merit: 1402

Join the world-leading crypto sportsbook NOW!

Bitcoin is not PoS, so you can't stake your coins to get more coins. But that also means that Bitcoin isn't using a system of making the rich even richer and making the ownership more centralized than it already is. Hodling generally pays off over time, although Ethereum is also a decent currency that tends to grow in value over time, similarly to Bitcoin. I guess there probably are some centralized services that give interest rate over Bitcoin holdings, but I don't think it's worth the risk and the fuss. The volatility covers the potential profits, and the risk of custodial storage is just not worth it.

death69

hero member

Activity: 1204

Merit: 545

Certainly, one of the comedic ironies of Bitcoin is that it's as active as a hibernating bear when it comes to earning interest! Bitcoin, in its purest form, is indeed a proof-of-work coin that demands little more than a hodler's unwavering faith.

However, in the spirit of friendly correction, there are ways to put your Bitcoin to work. Cryptocurrency lending platforms allow you to lend out your Bitcoin for a period and earn interest. Just be sure to buckle up for a bumpy ride as lending your coins can be as exhilarating as a roller-coaster ride, with a dash of risk involved!

As for RSK Bitcoin, it's a smart contract platform secured by the Bitcoin network. Think of it as a postgraduate degree for Bitcoin, where it gets to learn all the cool stuff like smart contracts and dApps, which were previously the forte of Ethereum. It offers the benefit of harnessing Bitcoin's superior security while expanding its functionality. Quite a bright kid, isn't it?

Rockstarguy

hero member

Activity: 1050

Merit: 592

God is great

Quote from: Outhue on May 22, 2023, 01:24:19 AM

I know that Bitcoin is a proof of work coin, but I am only curious if there is something you can do, while planning to hold your Bitcoin for 2 years or more, is there any benefit of holding and making more Bitcoin?

Of course their is benefit for hodling Bitcoin, hodling is not in vain. This may seems difficult for you but if you make up your mind to try your best to hodl you will appreciate the good profits Bitcoin will give to you. Use every for fall of price of bitcoin as an opportunity to accumulate Bitcoin . Apart from benefit of profit in bitcoin their are other benefits from bitcoin. Having bitcoin is freedom, you have power over your money anytime , anywhere. For bitcoin to be the most reliable cryptocurrency, it is a benefit. You don't have any fear of losing your coin just like some altcoins while investing.

Xampeuu

full member

Activity: 1442

Merit: 116

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

Quote from: wxa7115 on May 23, 2023, 10:37:14 PM

Quote from: summonerrk on May 23, 2023, 10:09:32 AM

Quote from: Outhue on May 22, 2023, 01:24:19 AM

~~~

Nah. I was a bitcoin holder periodically and kept it. And I will say that this is the slowest way to earn money. Let him be the calmest at the same time. Altcoins may die in the long run, but not bitcoin - the icon and the number one currency. I'm not belittling the value of Ethereum, but bitcoin is bitcoin.

How am I increasing my Bitcoin mass now?
Bitcoin trading. Transition to the usdt and back. Attempts to guess where the bottom is and where the maximum is.

The truth is there are not many ways to multiply our bitcoin, so either people stop being holders and they become traders trying to time the market and open and close their positions at the right time, or people could also begin to lend their coins.

However it does not matter what option people select to try to multiply their coins, those which want to do this will have to accept a higher risk by doing so, and while this may not seem like a big deal, it is, as if you do not change the way you approach the market you could find yourself losing a great deal of money instead of earning any.

As an investor, of course, you are ready to wait for years, and I think it is passive income that is difficult to rely on to meet your daily needs. however, with trading we will be able to multiply money more easily and quickly, but must master the science of trading, or take greater risks. and what is expected is that there will be many transactions in the bitcoin market, so that there will always be price fluctuations. both have their own characteristics both trading and investing. so that we should be able to judge ourselves which step to take

Kakmakr

legendary

Activity: 3542

Merit: 1965

Leading Crypto Sports Betting & Casino Platform

There are some places where people can deposit their Bitcoin and then get a fixed interest on it, like Freebitco.in ...if you want to earn passive interest, while you hoard your coins.

I grow my coins by trading with it, with the old strategy of selling at a high price and then buying more at a lower price. It is working very well for me, but I always have a fixed amount of coins that I never sell. Wink

wxa7115

hero member

Activity: 2814

Merit: 734

Bitcoin is GOD

Quote from: summonerrk on May 23, 2023, 10:09:32 AM

Quote from: Outhue on May 22, 2023, 01:24:19 AM

~~~

Nah. I was a bitcoin holder periodically and kept it. And I will say that this is the slowest way to earn money. Let him be the calmest at the same time. Altcoins may die in the long run, but not bitcoin - the icon and the number one currency. I'm not belittling the value of Ethereum, but bitcoin is bitcoin.

How am I increasing my Bitcoin mass now?
Bitcoin trading. Transition to the usdt and back. Attempts to guess where the bottom is and where the maximum is.

The truth is there are not many ways to multiply our bitcoin, so either people stop being holders and they become traders trying to time the market and open and close their positions at the right time, or people could also begin to lend their coins.

However it does not matter what option people select to try to multiply their coins, those which want to do this will have to accept a higher risk by doing so, and while this may not seem like a big deal, it is, as if you do not change the way you approach the market you could find yourself losing a great deal of money instead of earning any.

cryptomaniac_xxx

hero member

Activity: 1344

Merit: 540

Quote from: GreatArkansas on May 23, 2023, 10:49:21 AM

Quote from: Outhue on May 22, 2023, 01:24:19 AM

Is all we can do as a Bitcoin investor is to HODL?

Is there any way to HODL and make more BTC?

Since we already have already now decentralized finance (defi), there are already some platforms now where you can stake your Bitcoin, what is happening here is you convert your Bitcoin to another wrapped-bitcoin on another network.
And through this, some platforms accept "stake" where you can stake your wrapped bitcoin to earn interest.

Right, but still though, its HODLing not enough to the OP? no offense to him, but it seems that he is comparing apples and oranges here so obviously there is a big difference.

For me and sure for the majority here, it's better to just accumulate and hold bitcoin in years instead of staking it and converting it to WBTC.

You have total control of your wallet with your private keys and with your BTC and I think that is good enough to see it grow by just HODLing.

GreatArkansas

legendary

Activity: 2506

Merit: 1394

Quote from: Outhue on May 22, 2023, 01:24:19 AM

Is all we can do as a Bitcoin investor is to HODL?

Is there any way to HODL and make more BTC?

Since we already have already now decentralized finance (defi), there are already some platforms now where you can stake your Bitcoin, what is happening here is you convert your Bitcoin to another wrapped-bitcoin on another network.
And through this, some platforms accept "stake" where you can stake your wrapped bitcoin to earn interest.

Z390

sr. member

Activity: 812

Merit: 315

Vave.com - Crypto Casino

Ethereum is a smart contract crypto project, that's why even before they abandoned the Proof of Work algorithm propel can still stake their Ethereum on some crypto exchanges and platforms, the same can't happen with Bitcoin.

If you see any it's probably a scam platform trying to steal your Bitcoin from you, there is a way you can earn small Bitcoin on Binance exchange by participating in their yield system, I guess it still works but using such a platform which is centralized is not safe.

There is also RBTC that introduced a smart contract, there is a way to stake your RBTC and RBTC has the same value as BTC but it's not the original BTC.

thecodebear

hero member

Activity: 2240

Merit: 848

Quote from: Outhue on May 22, 2023, 01:24:19 AM

As a fan of Ethereum, I've been able to make some ETH through putting my coins to work, but I've not come across putting your Bitcoin to work before.

Is all we can do as a Bitcoin investor is to HODL?

Is there any way to HODL and make more BTC?

I know that Bitcoin is a proof of work coin, but I am only curious if there is something you can do, while planning to hold your Bitcoin for 2 years or more, is there any benefit of holding and making more Bitcoin?

Also, What are those RSK Bitcoin for? Any benefit at all?

Bitcoin is digital gold. You don't make more gold by holding it do you?

Ethereum is more like a company with a product, and staking it gives you something like a dividend.

Two different things.

summonerrk

hero member

Activity: 1470

Merit: 790

ARTS & Crypto

Quote from: Outhue on May 22, 2023, 01:24:19 AM

~~~

Nah. I was a bitcoin holder periodically and kept it. And I will say that this is the slowest way to earn money. Let him be the calmest at the same time. Altcoins may die in the long run, but not bitcoin - the icon and the number one currency. I'm not belittling the value of Ethereum, but bitcoin is bitcoin.

How am I increasing my Bitcoin mass now?
Bitcoin trading. Transition to the usdt and back. Attempts to guess where the bottom is and where the maximum is.

bittraffic

hero member

Activity: 3038

Merit: 617

Quote from: goldkingcoiner on May 23, 2023, 09:45:37 AM

Quote from: Outhue on May 22, 2023, 01:24:19 AM

As a fan of Ethereum, I've been able to make some ETH through putting my coins to work, but I've not come across putting your Bitcoin to work before.

Is all we can do as a Bitcoin investor is to HODL?

Is there any way to HODL and make more BTC?

I know that Bitcoin is a proof of work coin, but I am only curious if there is something you can do, while planning to hold your Bitcoin for 2 years or more, is there any benefit of holding and making more Bitcoin?

Also, What are those RSK Bitcoin for? Any benefit at all?

You could lend your Bitcoin in return for a certain percentage on return. But then again you would have to trust the person you are lending your Bitcoin to to actually pay you back and on time as well.

So for example say you lend someone 1 BTC for a return of 5% profit after 3 months. So after 3 months you get 1.05 BTC. And the effect of "hodling" will still not have been disturbed. You still hodl, you just actively do something in the meantime.

Lending can go wrong so make sure you have a legally binding document signed by the other party. But, I am not giving you law or financial advice, you can consult a professional for that.

There are numerous users in this forum ho are into lending though. Accounts was used as collateral back in the days which was a win win for those who lend BTC which they could even sell those accounts. Seem a very good business at one point.

Since OP is already liking ETH, he should just do some Defi in Eth since the feature he is looking can't be done in BTC.

goldkingcoiner

legendary

Activity: 2240

Merit: 1993

A Bitcoiner chooses. A slave obeys.

Quote from: Outhue on May 22, 2023, 01:24:19 AM

As a fan of Ethereum, I've been able to make some ETH through putting my coins to work, but I've not come across putting your Bitcoin to work before.

Is all we can do as a Bitcoin investor is to HODL?

Is there any way to HODL and make more BTC?

I know that Bitcoin is a proof of work coin, but I am only curious if there is something you can do, while planning to hold your Bitcoin for 2 years or more, is there any benefit of holding and making more Bitcoin?

Also, What are those RSK Bitcoin for? Any benefit at all?

You could lend your Bitcoin in return for a certain percentage on return. But then again you would have to trust the person you are lending your Bitcoin to to actually pay you back and on time as well.

So for example say you lend someone 1 BTC for a return of 5% profit after 3 months. So after 3 months you get 1.05 BTC. And the effect of "hodling" will still not have been disturbed. You still hodl, you just actively do something in the meantime.

Lending can go wrong so make sure you have a legally binding document signed by the other party. But, I am not giving you law or financial advice, you can consult a professional for that.

logfiles

copper member

Activity: 2170

Merit: 1822

Top Crypto Casino

Quote from: Outhue on May 22, 2023, 01:24:19 AM

As a fan of Ethereum, I've been able to make some ETH through putting my coins to work, but I've not come across putting your Bitcoin to work before.

You mean staking

Let me ask, is there any big different staking makes vs HODLing?

Quote from: Outhue on May 22, 2023, 01:24:19 AM

Also, What are those RSK Bitcoin for? Any benefit at all?

That's not Bitcoin!

Lucius

legendary

Activity: 3234

Merit: 5637

Blackjack.fun-Free Raffle-Join&Win $50🎲

Quote from: Outhue on May 22, 2023, 01:24:19 AM

Is all we can do as a Bitcoin investor is to HODL?

Of course, you can always do more with your BTC, but that involves risk, because you leave your digital assets to someone else, and that other person can make an exit scam or be hacked at any moment. These days in my country there is a current story about how some enterprising crypto investor managed to cheat around 800 people and disappear with around 70 million EUR.

Obviously, no one remembers all those lending companies that collapsed like towers of cards, and maybe it's time for some new ones to appear, considering that there are a lot of people who are ready to "gift" their BTC to someone else for the promise of some miserable earnings of 1-2% per year.

ImThour

copper member

Activity: 1470

Merit: 1609

Bitcoin Bottom was at $15.4k

That's a really good question and I don't even know other than lending it at an interest rate to CEX, I am not sure if there is any way to make it work for itself.
If we buy a property in NYC and rent it out, that would make money in two ways. But Bitcoin isn't going to do it on its own. I am sure there must be a way to grow more bits from the existing ones.

Ethereum is pretty cool on this thing, until the update as before that you couldn't do it. Now Proof of Stake allows you to do it.

BALIK

copper member

Activity: 2254

Merit: 608

🍓 BALIK Never DM First

Quote from: Outhue on May 22, 2023, 01:24:19 AM

As a fan of Ethereum, I've been able to make some ETH through putting my coins to work, but I've not come across putting your Bitcoin to work before.

Is all we can do as a Bitcoin investor is to HODL?

Is there any way to HODL and make more BTC?

Are you talking about making a profit from staking ETH on platforms like Lido, stakewise...? As far as I know, participating in ETH2.0 staking means you have to transfer your ETH to 3rd party, which means there will be risk, and your assets will become more centralized. If bitcoin has this feature, it will reduce its decentralization, I really don't like this idea. Furthermore, holding bitcoin is also very profitable, and it ensures the privacy and anonymity of your assets, I think we should not break this wonderful thing just for a bit of profit.

Fivestar4everMVP

legendary

Activity: 2422

Merit: 1083

Leading Crypto Sports Betting & Casino Platform

Well, holding bitcoin in its original and decentralized form may possibly not offer any means through which the holder can earn more bitcoin in the process of holding.
But if the holder so desire to earn more bitcoin in its original form, then the holder can utilize centralized services like earn or lending program to either stake their bitcoin or lend out their bitcoin for interest..
Also to enjoy the benefit of earning bitcoin through decentralized staking, providing liquidity and all that, one would have to buy wrapped bitcoin which operates in alternative blockchains like bsc, Solana, Renec blockchain and so on..

In the end, the final choice is on the holder to make.

cabron

hero member

Activity: 2800

Merit: 595

https://www.betcoin.ag

RSK is a smart contract platform that is a sidechain for Bitcoin. One project that I saw using this one is the Sovryn which is a defi platform. Not really something worth looking into unless you risk your BTC to trade with rBTC.

Lots have been created these days for BTC usecase like the BRC20 and SRC20, maybe that's what you wanna look at. Join the craze of memecoins. Cheesy

Z-tight

hero member

Activity: 994

Merit: 1089

BTC is a coin that should be in self custody, so staking isn't possible and lending isn't recommended, you are using BTC because you want to be in full custody of it and spend it anytime you want to. The best way to get returns from BTC is by buying low and selling high, it is not something that will happen quickly, but in the long run.

Quote from: hannahB4 on May 22, 2023, 12:24:45 PM

The benefit of you holding your Bitcoin for two years is the fact that you can double your principal investment if you make a wise decision as to when you sell your coin.

There's no fixed number of years that you can expect to get returns on the BTC's you bought. Buying with dca is by the way helpful, you don't have to spend too much at once and you have a better chance to get returns buying like this.

hannahB4

member

Activity: 532

Merit: 13

The benefit of you holding your Bitcoin for two years is the fact that you can double your principal investment if you make a wise decision as to when you sell your coin. Also, you can trade with it, but for me, hold and see your money increase.

Yatsan

legendary

Activity: 2576

Merit: 1252

Leading Crypto Sports Betting & Casino Platform

Quote from: Outhue on May 22, 2023, 01:24:19 AM

As a fan of Ethereum, I've been able to make some ETH through putting my coins to work, but I've not come across putting your Bitcoin to work before.

Is all we can do as a Bitcoin investor is to HODL?

Is there any way to HODL and make more BTC?

I know that Bitcoin is a proof of work coin, but I am only curious if there is something you can do, while planning to hold your Bitcoin for 2 years or more, is there any benefit of holding and making more Bitcoin?

Also, What are those RSK Bitcoin for? Any benefit at all?

One way to hold and earn is to stake your assets but be mindful if the platform offering staking services, is legitimate. I'd probably stick with DCA and swing trades to earn more. Akthough it has bigger risk but if things would be done using the right technical analysis, things would be somehow fine.There's nothing wrong if an investor would enter the market and will just choose. The conflict arises from our expectancies; if you are looking for bigger profit and in a quicker way, then prepare to take risks. There's no way you'd earn easily in any field of investment so what more in this cryptospace wherein prices are way too volatile.

buwaytress

legendary

Activity: 2968

Merit: 3684

Join the world-leading crypto sportsbook NOW!

Putting your assets "to work" is a risk that's different from holding, though. And I know with Bitcoin, they'll try and sell you things like Bitcoin lending, but no risk mechanism or algorithm is completely safe.

And if they try to sell you "non-custodial" "Defi", such as wrapping your Bitcoin on another network... that's still you trusting the security of another inferior network.

Cryptomultiplier

full member

Activity: 952

Merit: 232

Quote from: Outhue on May 22, 2023, 01:24:19 AM

As a fan of Ethereum, I've been able to make some ETH through putting my coins to work, but I've not come across putting your Bitcoin to work before.

If only you could be more expository on what you mean when you say you put some coins to work.

Quote

Is all we can do as a Bitcoin investor is to HODL?

Is there any way to HODL and make more BTC?

I know that Bitcoin is a proof of work coin, but I am only curious if there is something you can do, while planning to hold your Bitcoin for 2 years or more, is there any benefit of holding and making more Bitcoin?

I believe one of the benefits of HODLing is that your coins will retain its value owning to the near steady nature of BTC. It is also more secure.

Quote

Also, What are those RSK Bitcoin for? Any benefit at all?

I didn't want to write so much as to explain to clearify what the RSK Bitcoin mean. One fact is that it isn't a cryptocurrency on its own to be used to facilitate payment. It enables smart contract for big transactions and trades. It is still under the BTC Blockchain network. It has cheaper fees and speed of transaction is faster than the regular BTC charge or transaction speed which is about 10mins.

Quote

Rootstock Platform (RSK) is a second-layer virtual machine that addresses specific limitations of the Bitcoin blockchain. It was introduced in 2014 by developers to increase Bitcoin transaction times and provide smart contracts.
RSK is not a cryptocurrency or designed to be a payment method—it is a layer that works in the background to validate transactions much faster via merged mining.
RSK also allows decentralized finance application developers to create their DeFi protocols, NFTs, or other digital assets using the Bitcoin blockchain. This will enable Bitcoin to become a cryptocurrency ecosystem similar to Ethereum.
Fees have risen sharply since Bitcoin and Ethereum were first introduced, so RSK's innovative approach works to lower these fees.
RBTC, or the RSK Bitcoin (RBTC), is the RSK token used to pay transaction fees for smart contracts on the RSK blockchain.

Here is a link to learn more about RSK Bitcoin:

https://www.investopedia.com/news/what-rsk-it-threat-ethereum/

Frankolala

hero member

Activity: 896

Merit: 586

Leading Crypto Sports Betting & Casino Platform

Quote from: un_rank on May 22, 2023, 02:04:09 AM

Quote from: Zaguru12 on May 22, 2023, 01:42:29 AM

While holding bitcoin, I think the easiest way to earn more is just by providing a lending service.

Lending comes with an increased risk of loses cause you can not guarantee that your debtors would repay, you can only try to vet them by reputation and decide who gets a no-collateral loan and who does not.

I don't it is a wise decision to loan out your bitcoin because of the volatile nature of bitcoin. Remember if you loan me 0.1btc today at 26+k to pay back 0.12btc in a month time and within that period of time the price of bitcoin dumps to 19k. When the person is to pay back and he pays you exactly 0.12btc,mate you made a big lost due to the price that you lend him at that time. It is better and safer to give out loan in fiat currency.

The only way to make profit in bitcoin is to hodi for a very long time, maybe 10-15yrs with continuous DCA and you will be a winner. Staking your Ethereum is very risk because you no longer control your investment.

Jawhead999

legendary

Activity: 1834

Merit: 1208

You know right staking has a term about centralization and there are many cases where the altcoins network or smart contract get hacked? and now you're talking about staking Bitcoin when you were pointed out to not hold crypto on a centralized exchange Roll Eyes

Changed hands account? or someone who have many personality Cheesy

Quote from: Outhue on March 23, 2023, 04:46:05 AM

You can't trust any centralized exchange even if they are the top #1 rated over the web, it still doesn't guarantees that your assets will be safe on the exchange.

Centralized exchanges are the ones in the custody of your private key, they are not non-custodial.

If your purpose of depositing on Binance exchange is not to keep funds there then it makes no sense to me why you need an exchange that can give you more than one address, you can do this comfortable in non-custodial wallets too, like meta mask wallet.

cryptoaddictchie

legendary

Activity: 2268

Merit: 1379

Fully Regulated Crypto Casino

Quote from: Outhue on May 22, 2023, 01:24:19 AM

Is all we can do as a Bitcoin investor is to HODL?

Is there any way to HODL and make more BTC?

Yes you could only hodl and wait for its value to increase then sell it once its appreciated through monetary value. Once bitcoin drop again you could increase your holding by buying it back so basically you increase your asset in bitcoin. Its purpose is to be use for transaction for peer to peer as per Satoshi vission and goal. Cant really compared that into eth which has different consensus that can increase through staking.

If you are fond of increasing your asset then go for altcoins. Cant really much do on bitcoin about this.

Kemarit

legendary

Activity: 3080

Merit: 1353

Quote from: Outhue on May 22, 2023, 01:24:19 AM

As a fan of Ethereum, I've been able to make some ETH through putting my coins to work, but I've not come across putting your Bitcoin to work before.

Is all we can do as a Bitcoin investor is to HODL?

Is there any way to HODL and make more BTC?

I know that Bitcoin is a proof of work coin, but I am only curious if there is something you can do, while planning to hold your Bitcoin for 2 years or more, is there any benefit of holding and making more Bitcoin?

Also, What are those RSK Bitcoin for? Any benefit at all?

Are you talking about Staking per se with your bitcoin? But I think staking is only applicable to PoS that's why Ethereum move their model into it. But obviously Bitcoin is still PoW and I doubt that we will move into PoS in the near future.

So in any case, yes, the best thing for a Bitcoin investors is HODL.

Risk is that if you don't know how to have a good safety and security practice, there are chance that you might lose it through hacks.
The obvious benefit is that you are going to make profits if you invest on a bear market, accumulate, buy and have the mentality to HODL and then wait for the right time to sell in a bull run.

Dunamisx

hero member

Activity: 952

Merit: 555

Quote from: Outhue on May 22, 2023, 01:24:19 AM

As a fan of Ethereum, I've been able to make some ETH through putting my coins to work, but I've not come across putting your Bitcoin to work before.

Are you saying that you're not a fan of bitcoin investment rather but an altcoins investors or you're just considering bitcoin for an investment to make, as long as you invested, your asset is working for you because when the market rises you also stand the chance to earn more.

Quote from: Outhue on May 22, 2023, 01:24:19 AM

Is all we can do as a Bitcoin investor is to HODL?

You can hodl but not only by holding, you have to have a specific target on your holding as to when to sell or limit your holdings to especially when you've earn some money over time after the bullrun happened and before the market begins to fall, you can sell out.

Quote from: Outhue on May 22, 2023, 01:24:19 AM

Is there any way to HODL and make more BTC?

Target the bullrun season when the bitcoin will get to a new all time high but before then, study the price trends and know the current position, speculate well and buy the dip and hodl, you could also invent into bitcoin trading, which is a short time of investment and you could earn as well through this.

irhact

hero member

Activity: 616

Merit: 749

Quote from: Outhue on May 22, 2023, 01:24:19 AM

I know that Bitcoin is a proof of work coin, but I am only curious if there is something you can do, while planning to hold your Bitcoin for 2 years or more, is there any benefit of holding and making more Bitcoin?

Ethereum just recently moved from the proof of work algorithm to proof of staking and that's why you can earn more Ethereum from just holding and staking it. Bitcoin can't be staked and don't send your Bitcoin to any exchange offering staking rewards. Bitcoin is a currency while Ethereum is a platform used for building decentralized application and that's the difference between both projects.

If you want to earn more Bitcoin, increase your income and use the money received to buy more Bitcoin, you can also trade Bitcoin and increase the amount you own but that's very risky. Staking increase the centralization of a project and Bitcoin can't have such traits.

blockman

hero member

Activity: 3066

Merit: 629

Vave.com - Crypto Casino

Quote from: Outhue on May 22, 2023, 01:24:19 AM

As a fan of Ethereum, I've been able to make some ETH through putting my coins to work, but I've not come across putting your Bitcoin to work before.

Is all we can do as a Bitcoin investor is to HODL?

Is there any way to HODL and make more BTC?

I know that Bitcoin is a proof of work coin, but I am only curious if there is something you can do, while planning to hold your Bitcoin for 2 years or more, is there any benefit of holding and making more Bitcoin?

Most likely, yes. That's all that we can do with our Bitcoins and that's to hold it. You have the choice to put that into an interest account of exchange and you'll get to earn maybe somewhere from 2%-5% APY if you deposit there. But are you sure that you're liking that term if there are no keys that are given to you while you're allowing an exchange to hold your Bitcoins for you? That's why I've said that it's most likely that it is.

Quote from: Outhue on May 22, 2023, 01:24:19 AM

Also, What are those RSK Bitcoin for? Any benefit at all?

This? (https://coinmarketcap.com/currencies/rsk-smart-bitcoin/)
If so, then it's like just like those wrapped Bitcoin but they're not real Bitcoin.

hd49728

legendary

Activity: 2044

Merit: 1018

Not your keys, not your coins!

Quote from: Outhue on May 22, 2023, 01:24:19 AM

Is all we can do as a Bitcoin investor is to HODL?

Not all investors can hold or hodl. They call themselves as investors but what they do is trading like traders.

Quote

Is there any way to HODL and make more BTC?

Holding means you don't touch it and you only wait to take profit with better price in future.

Making more bitcoin is not holding, you are thinking about getting passive income with your bitcoin, like staking altcoins. It's not holding. If you send your bitcoins to a platform like exchange, that provides you staking program with a APY for interest from staking, you can get more bitcoins. Think about risk before you do that because "Not your keys, not your bitcoins".

When you send your coins to exchange, join staking program, you don't have its key. The exchange can file bankruptcy, suspend their operations like Hotbit.

un_rank

hero member

Activity: 644

Merit: 661

- Jay -

Quote from: Outhue on May 22, 2023, 01:24:19 AM

but I am only curious if there is something you can do, while planning to hold your Bitcoin for 2 years or more, is there any benefit of holding and making more Bitcoin?

The benefit is that the price has the potential to increase and you get to use a decentralized currency which resists inflation. Any form of staking or passive earning means it stops being decentralized.

Quote from: Outhue on May 22, 2023, 01:24:19 AM

Also, What are those RSK Bitcoin for? Any benefit at all?

It is an altcoin which takes your actual bitcoin from you.

Quote from: Zaguru12 on May 22, 2023, 01:42:29 AM

While holding bitcoin, I think the easiest way to earn more is just by providing a lending service.

Lending comes with an increased risk of loses cause you can not guarantee that your debtors would repay, you can only try to vet them by reputation and decide who gets a no-collateral loan and who does not.

- Jay -

Zaguru12

hero member

Activity: 868

Merit: 952

Bitcoin and Ethereum uses different mechanism, while the latter can be staked, the former cannot. From your question the only way you earn while holding and not considering trading is to stake your coins and bitcoin doesn’t supports staking.

Quote from: Outhue on May 22, 2023, 01:24:19 AM

Is there any way to HODL and make more BTC?

While holding bitcoin, I think the easiest way to earn more is just by providing a lending service. With the lending service strictly tied to been payed back on bitcoin worth and not necessarily dollar worth of bitcoin you can earn gradually with the interest rate that comes off it. Imagine having to lend out 0.1btc and the repayment is like 0.12btc this gives an extra earning while you still have your 0.1btc as an holding.

If this doesn’t guarantees the much profits you are yarning for then it is best you pick up trading alternatives or you start mining bitcoin, both are profitable but expensive to startup and also involves risk

Outhue

sr. member

Activity: 686

Merit: 403

As a fan of Ethereum, I've been able to make some ETH through putting my coins to work, but I've not come across putting your Bitcoin to work before.

Is all we can do as a Bitcoin investor is to HODL?

Is there any way to HODL and make more BTC?

I know that Bitcoin is a proof of work coin, but I am only curious if there is something you can do, while planning to hold your Bitcoin for 2 years or more, is there any benefit of holding and making more Bitcoin?

Also, What are those RSK Bitcoin for? Any benefit at all?

Topic: The last side of Bitcoin I've failed to look into (Read 318 times)