Thoughts on "holding" Bitcoin - page 2.

HostSurf

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Quote from: richardsNY on November 20, 2015, 10:00:52 AM

Quote from: mouneshwar123 on November 20, 2015, 09:52:26 AM

Quote from: CryptoBjorn on November 20, 2015, 03:42:10 AM

Well when I have 5 BTC than I am just holdng 3 BTC and 2 BTC for spend like my dollar.

Let say I earn 1000 dollar so I just save 600 dollar and sace 400 dollar.

I am holding bitcoin is because I believe some day (5 years) Bitcoin will rich 1000 USD and when that happends I have enough money.

This is the true potential of Bitcoin. Not all currencies are a investment thing. But Bitcoin can be used as a currency and as a investment thing.Bitcoin's value increases day by day and is accepted almost everywhere for transactions. I came across a thread where someone stated that he is having drinks from a nearby coffee shop with bitcoins.

That's what I like about Bitcoin. It can be used in many ways. It can be used as currency, as store of value, instant payment system, tipping tool and so on. Bitcoin can be of great value for everyone. People must just be open for it.

Yes you're right. It took me awhile to get into it as well. But now that I have, I'm learning more about it everyday.

richardsNY

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Quote from: mouneshwar123 on November 20, 2015, 09:52:26 AM

Quote from: CryptoBjorn on November 20, 2015, 03:42:10 AM

Well when I have 5 BTC than I am just holdng 3 BTC and 2 BTC for spend like my dollar.

Let say I earn 1000 dollar so I just save 600 dollar and sace 400 dollar.

I am holding bitcoin is because I believe some day (5 years) Bitcoin will rich 1000 USD and when that happends I have enough money.

This is the true potential of Bitcoin. Not all currencies are a investment thing. But Bitcoin can be used as a currency and as a investment thing.Bitcoin's value increases day by day and is accepted almost everywhere for transactions. I came across a thread where someone stated that he is having drinks from a nearby coffee shop with bitcoins.

That's what I like about Bitcoin. It can be used in many ways. It can be used as currency, as store of value, instant payment system, tipping tool and so on. Bitcoin can be of great value for everyone. People must just be open for it.

mouneshwar123

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Quote from: CryptoBjorn on November 20, 2015, 03:42:10 AM

Well when I have 5 BTC than I am just holdng 3 BTC and 2 BTC for spend like my dollar.

Let say I earn 1000 dollar so I just save 600 dollar and sace 400 dollar.

I am holding bitcoin is because I believe some day (5 years) Bitcoin will rich 1000 USD and when that happends I have enough money.

This is the true potential of Bitcoin. Not all currencies are a investment thing. But Bitcoin can be used as a currency and as a investment thing.Bitcoin's value increases day by day and is accepted almost everywhere for transactions. I came across a thread where someone stated that he is having drinks from a nearby coffee shop with bitcoins.

StevenLiang

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Quote from: johnyj on November 19, 2015, 07:57:00 PM

Holding or spending 10 bitcoins have no real difference, they all make 10 bitcoins not available for others (either in your long term storage or in circulation caused by your spending), but holding have significant long term impact to supply (holding 10 bitcoins for 1 year will make the available bitcoin reduce by 10 bitcoins for 1 year, while spending 10 bitcoins would only make it disappear for a while when it is waiting confirmation, unless you spend 10 bitcoins every hour)

This loop:

Why do you hold bitcoin?
- because it will become more valuable
Why would it become more valuable?
- because I hold it

The biggest demand for bitcoin is buy and hold, e.g. long term saving due to its anti-inflation nature, and this demand will automatically reduce the supply, indirectly strengthen the value storage ability of bitcoin, a positive feedback

Hold or spend bitcoin as you want. That's most important thing in all currencies both in fiat / digital.
I got your point about hold it in cold storage and not using it for whole years will make 10 bitcoin (in example) not available on the market, and maybe it will boost BTC price.

But good traders not just doing buy and hold. When the price low = buy, when the price high = buy.
Maybe this is the method for long term investment only. (Buy to see the BTC price next 5 years later)

Xeelee

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I buy and hold Bitcoin because I believe on it on the long term. Also I spend usually some BTC to invest in interesting Altcoin projects. Sometimes with success sometimes not.

HolloZollo

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I guess you could say I'm saving up bitcoin to make future investment

After making investments I'll be saving up again and do the cycle all over again

CryptoBjorn

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Well when I have 5 BTC than I am just holdng 3 BTC and 2 BTC for spend like my dollar.

Let say I earn 1000 dollar so I just save 600 dollar and sace 400 dollar.

I am holding bitcoin is because I believe some day (5 years) Bitcoin will rich 1000 USD and when that happends I have enough money.

Amph

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Quote from: johnyj on November 19, 2015, 07:57:00 PM

Holding or spending 10 bitcoins have no real difference, they all make 10 bitcoins not available for others (either in your long term storage or in circulation caused by your spending), but holding have significant long term impact to supply (holding 10 bitcoins for 1 year will make the available bitcoin reduce by 10 bitcoins for 1 year, while spending 10 bitcoins would only make it disappear for a while when it is waiting confirmation, unless you spend 10 bitcoins every hour)

This loop:

Why do you hold bitcoin?
- because it will become more valuable
Why would it become more valuable?
- because I hold it

The biggest demand for bitcoin is buy and hold, e.g. long term saving due to its anti-inflation nature, and this demand will automatically reduce the supply, indirectly strengthen the value storage ability of bitcoin, a positive feedback

actually it is(the last sentence) "why you would it become more valuable?"

because someone else will buy it, not because i hold it

the point of holding is letting the more rich people play with the market between them and hoping for a price increase, then waiting for average(noobs) joe get sucked in the wave

LuckyYOU

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Quote from: erickimani on November 19, 2015, 08:25:22 PM

yes I am holding Bitcoins like an investment for future use because I believe as time goes by, its value increases. I have not only used bitcoin as an investment some years back I used to hold the dollar also as an investment because my local currency was depreciating. As an investor, I see the future and live in the future

So you're saving your bitcoins, just like you're saving your usd.

After you've saved up enough you just spend them again

mouneshwar123

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Quote from: Mickeyb on October 14, 2015, 12:31:22 PM

Quote from: BTChaintrader on October 12, 2015, 10:26:42 PM

I think that some of your bitcoins should be lended or invested. Holding 100% of your bitcoins is a good strategy, but in my opinion, holding 80% of them and lending/investing 20% of them is a better strategy.

No, no, and no. Unfortunately if you do this, there are big chances that you will be 20% shorter on your bitcoins one day, since you will get scammed.

I would hold all my coins in the cold storage except the ones I have for daily spending.

As you said there is no safe way for lending bitcoins, Investing might be a good idea. Keep bitcoins circulating, else it value will go down.

erickimani

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yes I am holding Bitcoins like an investment for future use because I believe as time goes by, its value increases. I have not only used bitcoin as an investment some years back I used to hold the dollar also as an investment because my local currency was depreciating. As an investor, I see the future and live in the future

johnyj

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Beyond Imagination

Holding or spending 10 bitcoins have no real difference, they all make 10 bitcoins not available for others (either in your long term storage or in circulation caused by your spending), but holding have significant long term impact to supply (holding 10 bitcoins for 1 year will make the available bitcoin reduce by 10 bitcoins for 1 year, while spending 10 bitcoins would only make it disappear for a while when it is waiting confirmation, unless you spend 10 bitcoins every hour)

This loop:

Why do you hold bitcoin?
- because it will become more valuable
Why would it become more valuable?
- because I hold it

The biggest demand for bitcoin is buy and hold, e.g. long term saving due to its anti-inflation nature, and this demand will automatically reduce the supply, indirectly strengthen the value storage ability of bitcoin, a positive feedback

mouneshwar123

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Quote from: ?? on ??

Quote from: BillyBobZorton on June 01, 2015, 07:53:29 AM

There is a big difference: We know dollars will have the same purchasing power, if not less, in 10 years.

With Bitcoin, in 10 years it may be 1, 10, or 100K times the purchasing power of a dollar.

Therefore, spending Bitcoins can never be the same as spending dollars, you have a different mindset. For me it feels like buying with Gold.

I spend some of my Bitcoins but not too often, im focused on building up a good stack for the future.

If everyone is sitting on their money it's not going to 100k times the purchasing power. It's stagnating and falling apart. Some merchants stopped accepting it, because nobody used it.

Spending is the same. You can easily repurchase BTC once you have spent some if you're concerned to lose out (if you did that during the last 18 months you could've lost a lot of money)

Yeah if nobody spends BTC then BTC will lose its power, spend BTC like a currency, Save BTC like gold:)

LMGTFY

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Quote from: Mickeyb on October 15, 2015, 03:09:18 AM

Quote from: LMGTFY on October 14, 2015, 12:39:09 PM

I tend more towards the 80% cold storage / 20% investment side (though right now it's more like 95%/5%), but I'd certainly tend towards recommending 100% cold storage as a general rule. But... I don't think the risk of being 20% shorter is that big - unless you stick all your 20% in one "investment" (and I'd hope no one would do that). Part of investing is managing risk, and a big part of managing risk is spreading investments - not putting all your eggs in one basket.

I understand what you are trying to say, but I hope that you are aware that many people don't know how to manage this risk, especially new people. Also there is no good place to invest your coins at the moment. 95% of all the options are either scams or too big of the risk of just not getting ROI and even losing. Not even trading, investing into new coins. Everything has just stopped.

Sadly, I think you're all too correct - that's why I'd tend towards recommending 100% cold storage (at least until I felt comfortable that the person I was discussing it with understood risk). The 5% I still have on exchanges is mostly for hedging, and I think even that's a big ask for many traders/investors (and, right now, it's limited to one exchange - which is far from ideal in itself).

Mickeyb

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Move On !!!!!!

Quote from: RKing on October 15, 2015, 03:05:40 AM

Quote from: Mickeyb on October 14, 2015, 12:31:22 PM

Quote from: BTChaintrader on October 12, 2015, 10:26:42 PM

I think that some of your bitcoins should be lended or invested. Holding 100% of your bitcoins is a good strategy, but in my opinion, holding 80% of them and lending/investing 20% of them is a better strategy.

No, no, and no. Unfortunately if you do this, there are big chances that you will be 20% shorter on your bitcoins one day, since you will get scammed.

I would hold all my coins in the cold storage except the ones I have for daily spending.

But if we do not use (circulate) bitcoin, then it is no use. The value will drop.

I did say above except the ones I have for daily spending. There is a big difference between daily spending and investing into shady services that will just make you lose your money and after some time your interest and faith in crypto and Bitcoin in general.

Mickeyb

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Move On !!!!!!

Quote from: LMGTFY on October 14, 2015, 12:39:09 PM

Quote from: Mickeyb on October 14, 2015, 12:31:22 PM

Quote from: BTChaintrader on October 12, 2015, 10:26:42 PM

I think that some of your bitcoins should be lended or invested. Holding 100% of your bitcoins is a good strategy, but in my opinion, holding 80% of them and lending/investing 20% of them is a better strategy.

No, no, and no. Unfortunately if you do this, there are big chances that you will be 20% shorter on your bitcoins one day, since you will get scammed.

I would hold all my coins in the cold storage except the ones I have for daily spending.

I tend more towards the 80% cold storage / 20% investment side (though right now it's more like 95%/5%), but I'd certainly tend towards recommending 100% cold storage as a general rule. But... I don't think the risk of being 20% shorter is that big - unless you stick all your 20% in one "investment" (and I'd hope no one would do that). Part of investing is managing risk, and a big part of managing risk is spreading investments - not putting all your eggs in one basket.

I understand what you are trying to say, but I hope that you are aware that many people don't know how to manage this risk, especially new people. Also there is no good place to invest your coins at the moment. 95% of all the options are either scams or too big of the risk of just not getting ROI and even losing. Not even trading, investing into new coins. Everything has just stopped.

RKing

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Quote from: Mickeyb on October 14, 2015, 12:31:22 PM

Quote from: BTChaintrader on October 12, 2015, 10:26:42 PM

I think that some of your bitcoins should be lended or invested. Holding 100% of your bitcoins is a good strategy, but in my opinion, holding 80% of them and lending/investing 20% of them is a better strategy.

No, no, and no. Unfortunately if you do this, there are big chances that you will be 20% shorter on your bitcoins one day, since you will get scammed.

I would hold all my coins in the cold storage except the ones I have for daily spending.

But if we do not use (circulate) bitcoin, then it is no use. The value will drop. So we need to use, adopt bitcoin.

LMGTFY

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Quote from: Mickeyb on October 14, 2015, 12:31:22 PM

Quote from: BTChaintrader on October 12, 2015, 10:26:42 PM

I think that some of your bitcoins should be lended or invested. Holding 100% of your bitcoins is a good strategy, but in my opinion, holding 80% of them and lending/investing 20% of them is a better strategy.

No, no, and no. Unfortunately if you do this, there are big chances that you will be 20% shorter on your bitcoins one day, since you will get scammed.

I would hold all my coins in the cold storage except the ones I have for daily spending.

I tend more towards the 80% cold storage / 20% investment side (though right now it's more like 95%/5%), but I'd certainly tend towards recommending 100% cold storage as a general rule. But... I don't think the risk of being 20% shorter is that big - unless you stick all your 20% in one "investment" (and I'd hope no one would do that). Part of investing is managing risk, and a big part of managing risk is spreading investments - not putting all your eggs in one basket.

Mickeyb

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Activity: 798

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Move On !!!!!!

Quote from: BTChaintrader on October 12, 2015, 10:26:42 PM

I think that some of your bitcoins should be lended or invested. Holding 100% of your bitcoins is a good strategy, but in my opinion, holding 80% of them and lending/investing 20% of them is a better strategy.

No, no, and no. Unfortunately if you do this, there are big chances that you will be 20% shorter on your bitcoins one day, since you will get scammed.

I would hold all my coins in the cold storage except the ones I have for daily spending.

mirana12345

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Quote from: jaysabi on October 14, 2015, 11:54:11 AM

Quote from: RKing on October 14, 2015, 11:18:37 AM

Quote from: harizen on October 14, 2015, 10:29:06 AM

Quote from: Poppy on October 13, 2015, 07:32:25 PM

Personally, I would hold on to bitcoin. I will wait for the price to go up and then I will sell them.

How can you tell the price is up?

Well if that is your method then so be it. Holding is nice but rotating is much nicer. You will got my point if one day you will need money and your saved bitcoin is your last hope.

When the bitcoin price was $80, I thought bitcoin price peaked. I used the bitcoin to pay for phone bill. That turned out to be 3 times too expensive if we use today's bitcoin price to compare.

I'm interested to know what phone provider was so far ahead of the trend as to be accepting bitcoin as a payment method!

I believe he meant that he sold his bitcoin for fiat and then used that fiat to pay for the bill, and not that he paid it directly with bitcoin.

As far as holding term goes from OP, it's not that far from how people use fiat money. Even traders that are holding to sell at higher price don't sell their entire share,
but rather keep a part of it, like a saving. I consider bitcoin to be in a way similar as fiat, but with a twist - you can make nice profit trading it as it jumps up/down.

Topic: Thoughts on "holding" Bitcoin - page 2. (Read 6505 times)