Topic: What will you do with bitcoin? - page 2. (Read 1020 times)

I doubt this, I don't think anyone is rich enough and generous enough to do this. No one buys bitcoin at $69k and will spend it when it costs $30k, even those who consider bitcoin a currency. That's a big deal for anyone.

This is true, many people are always propagating and telling newbies that bitcoin is not an investment, bitcoin is a currency and should not be viewed as a tool to make money. But even they see bitcoin as a tool to generate profits. Honestly, I've met many people who both use bitcoin for investment and use it as currency in some cases. But I've never seen anyone not for profit treat bitcoin as a pure currency.

In my opinion, this is a good and wise decision, indeed in this case we have to be smart in managing the strategy as well as investing in BTC because of course the aim of investment is to make a profit.
and I think your opinion is a good opinion because you don't waste a good opportunity when your investment has made a profit and you sell half of your bitcoins and finally you get a profit from your investment in btc.

this is a good decision my friend...

This is a great tactics. You never know when bitcoin will go up or down so the best way to "catch" it in a good position is to DCA or hold some cash to buy bitcoin if needed.

It really depends on the situation if i really need that money then i will sell it off but if not i will just sell half of it and wait until when it is best time to buy more. It is really better not to sell all of it because after that you feel in void as you already gain profit and you dont know whats next and you still need to want have more profit in the future so it is best to not sell all of it and still continue holding

Are you here to make profit? Then sell it with the price goes up and enjoy the profit. But are you here to use bitcoin as a regular currency? Then hold it and use it as a regular currency. There is no need to sell it. If the value goes up, then great. You have to spend less bitcoin  when buying anything. The price goes down? Not a problem for you. You still uses it as a regular currency. It is just that you need to spend more of your coins to buy the same thing....

Most people are here for the profit. So when the price goes up, the sell and take the profit. When it goes down, they reinvest.

Not sure if I am going to believe this claim mate as you are not new in this field and asking and telling us that you don't have idea
 once bitcoin reach the top again is really unbelievable.

you can cash out and have a luxury living?

not unless you only hold small amount then there is no sense about this.

same plans lol.

that is what we all wanted mate , but the  fact of truth is that most of us has no availability in our region and country so how can we use bitcoin as payment method.

When the time comes, well will know what to do and all will be depending on the quantity of bitcoin at that time. If the quantity you will have at that time is much more then you can split it and sell half of it and keep the remaining half. You don't have to empty your wallet because bitcoin has gone to the peak of $70,000 or to $80,000. At that time bitcoin will be used in different ways. It might be use to buy things easily from retail stores which will be the best time of it.
As for in that period or time. I will still hold it because that will not be the last stage of bitcoin. And that will be determined by how many BTC are in my wallet. But the matter what, I can't sell all. At least small fraction will be in the wallet.

Do you think it will work?
it's not very convenient to hold your money in a currency that can fluctuate 5% a day. After some time, you would probably come back to a more stable currency.
I even created a topic about bitcoin being currency and it doesn't look like people want it to be one.

Focusing on the reason you originally bought Bitcoin is one way to avoid losing the value of the assets you have. When the price has reached a new ATH, maybe you think it will go even higher, what if the price continues to fall which makes some of your asset values decrease?

Bitcoin sound long-term fundamentals make investors and traders believe in the future prospects generated from Bitcoin. Very high price fluctuations make Bitcoin one of the most speculative trades, there is a need for risk management so that you can still be profitable as planned.
Hoping the price continues to increase is not a mistake, but you must be able to measure the initial goal to prevent losing the profits that have been collected.

if bitcoin reaches a price of $ 80k, then I will sell it and leave a little, and the result I will make a real asset like in my mind to make a rented house, so I will get passive income every month, we don't know if after reaching that price bitcoin will keep going up, so I secure the money I have earned to strengthen my family's finances, because once you experience a reversal, you will have to wait a long time to fly again. but maybe after the family's economy is strong, maybe I will hold it for a longer period of time for the inheritance of children

That is the reason why we are in cryptocurrency, we are in bitcoin investment, to solve our  problems, to make things great and things smooth for us and and families and friends, our love ones. And for those we can hold for long term, holding it up to their satisfaction, and to become millionaires or billionaire. And it's depends on the plan you plan for ourselves before we start to invest in bitcoin, we all know why we are in cryptocurrency, some people are here take their family out poverty and some are to  become to be a self employed to make life easier.

I would like to use bitcoin as a payment method for my daily transactions, such as buying food, paying bills and other expenses. I also want to buy products from the internet and pay for them with bitcoins.

we won't know the price of bitcoin in the future whether it will go up or down, because in my opinion if the price of btc has gone up high some people won't necessarily want to buy it, so in this case it will be difficult to analyze and predict.

so I really agree with what you said that indeed people who are good at doing business will take advantage of their investment even though the profit is small.
but in this case the decision is in the hands of each.

It does depend on the type of idividual you are. If you would be seeking for bigger profit and you are into long term holding, it would be normal to just continue holding. But if you would be fine with the profit on that amount already, then selling would as well be fine. Some people would sell and wait for the price correction. Some would just stay away from stress and just let its price increase do the work. Some would be forced to sell halfway the increase because of circumstances or change of plans. No matter what you plan to do, that would be fine 'coz that is your money in the first place. I would preferrable sell by that time but ofcourse there would be thoughs of "what if it continue to go up, will I be able to re-enter on my target entry point?

Hmm, Bookin profit on the full bullish mode of the market is not a good move, let's say you are playing safe you should not instantly book 50% of profit because you never know the market's top and bottom so we are gonna play safer with my strategy of booking 15% of the total holding every week and we will book only 50% of total holding this can make a good average profit.

Also, your speculation is wrong from 2024 to 2028 because if you really missed the market top profit booking no need to worry according to historical market movement in 4 years if the market stays Bullish for the 3 years. It is not fixed that the market cycle top is on ATH you can even expect another ATH in the remaining time so with patience and  on every correction make sure to fill up the bags.

You raised good questions, according to 1miau, the next halving may take place in 2024. So if that's happened and BTC breaks its ATH again and sets a new one, let's say around 70l to 80k, then we should not fall prey to greed and book at least half of our profits, because in this halving we have got a really good opportunity to buy BTC at around $16k and if we could able to sell them at around $80k that would be a hell lot of profits depends on the amount we holding.

If we just become more greedy and wanted to earn more money then this will make us more wait as it could be to the next halving which according to an aforementioned thread is around 2028, and this is not confirmed even though 2024 is not confirmed too. But Crypto is all about speculations so keep better hopes. So, i hope you may have got my intentions about BTC holding, which i don't have many.

I don't think that's a good plan to hold BTC even in this halving because you may not get another chance to book profit until the next halving (2028) which I aforementioned. And we all know in every halving BTC set it ATH as well as low too, which means we may be able to grab BTC around $20k to $25k at its ATL in the next halving and could sell it around $100k to $120k ath in next having. % of atl and ath changes with the age of halving.

The thing is that in every market bitcoin has a limit,  in the bull market bitcoin has a limit it will hit to and won't go further increasing for that moment, instead the price will be  coming down back. Same thing with the bear market it also has a limit it will drop to.

I don't think you need to hodl your bitcoin forever,  every investor have a target, if not in the present bull market it will be in the next bull market.  It is not possible to hodl Bitcoin forever because, we all need all the profits from bitcoin in the future. Bitcoin always have a limit in every market which is unknown to no one.

Bitcoin value will exceed 80k in 2024.  2024 will see a huge increase in the value of Bitcoin. Presumably, Bitcoin will eventually become ATH. If I want to sell bitcoin I want to sell it when its price is between 75k and 80k. If you want to get a good profit from Bitcoin then you need to hold Bitcoin until 2025 because anytime in 2024 it will go up in value quite a lot. In 2024 the price of Bitcoin will cross from around 75k to 80k. You can buy some bitcoins now because it will make you very profitable later. You hold on to Bitcoin because success awaits you.

If bitcoin hits $1 million, that's its limit, any asset has a price limit, I disagree when you overstate that bitcoin price has no limit. No one knows what will happen in the future, so if someone is already profitable and wants to sell bitcoin when it hits 70k or 100k, there's nothing wrong with that.

Bitcoin price may hit $1 million, but maybe never will, who knows? So in investing, always have goals and plans. Don't be so delusional that you'll regret it later.

The All Time High of Bitcoin is unlimited. There is no limit of Bitcoin price. Bitcoin can even reach one million dollar ($1,000,000) or more. So one can not set a particular amount for bitcoin to reach. So the hodling of bitcoin is continues. At that stage of the $70k or $80k you are saying is not the scope of Bitcoin it will be more than that. And also the selling of Bitcoin is unpredictable because expenses can come at anytime so there are cases that one can face that will make him or her to sell and solve the problem.