Topic: Why do you have bitcoins and what is your strategy? (Read 5037 times)

How do you decide which it is?

My strategy is simple, be a bull in the bear markets and be a bear in the bull markets. That always works out :O

The ability to transfer value over internet without any third party is amazing, the benefit of bitcoin can be far beyond the imagination of today's human, so far only a few limited usage have been discovered

I just want to get more and more of bitcoin, join the digital property rush in cyberspace, and see in ten years how things will develop

Bitcoin will reach stability when will be mined the 21 first million one. The price? I don't know. No one knows it. But I believe it will be a lot higher than now.

Because I think it's a good investment. I just have a quite small percentage of my savings invested, because I think that it probably won't work, but if it does, if it becomes widely used, I'll become rich with just investing an small amount of money.

Bitcoin is nice but at this point I don't really know if bitcoin will play a significant part of the financial system in the future. But I think there is a good chance that we will see a new all time high. I want to make money. I can't buy things I want with idealism.

But: It is worse to missing out profits than losing money

I can see it taking over in more and more places. I have already reached points where I have used Bitcoin and wonder what other method I might have used if it was not so easy to use Bitcoin.

I get paid in dollars but live in Germany so converting my paycheck to bitcoins is necessary. I still have a mortgage so I use some dollars towards paying that down but my house is rented and the rent almost covers the mortgage. For income tax purposes I have been putting more dollars towards the mortgage (about $4k per month) instead of cashing out bitcoins for a profit to pay it off. With the price this low I dropped my payment to $2k this month so I can put more toward bitcoins.

My apartment here in Germany is actually rented via airbnb which they said is working on accepting bitcoins. That would be perfect.

According to some bitcoin bulls, each bitcoin will be worth $100k or more in the coming years.  I'm in on bitcoin as I'm waiting to pay off my house just by sitting on bitcoins rather than working the next 20 years.

Bitcoin is a great investment AND the prime mover of an economic/political paradigm shift
that I want to support and be a part of.

Strategy is hold a good amount of coins...Not too many
that I would be financially in trouble if Bitcoin went
to zero (iow, not my life savings), but enough to
reap the rewards when Bitcoin starts to march
toward its real potential.  I see no reason why
Bitcoin can't become a trillion dollar market, but
we will need some years to get there.  Maybe
10 or more, but thats ok, I have patience.

I was captivated with its concept.. Really, I did..

I always imagined that once we went down from $600, it would be best to hedge and short at least quite decent amount of your holdings. This turned out to be wise. Even now, things may still turn out for the worse, but it may be prudent to hedge again and regain a certain position!

hodling until 10k at least

History? You still think that BTC will be part of our history huh..

What if this slow and steady decline is the price of Bitcoin falling down to a level that represents the increased volume of Bitcoin trading due to Paypal, Dell, and other retailers accepting it for payment? What if this price settling will make Bitcoin more affordable to the masses? What if this stability is the foundation upon which Bitcoin can be seen as a viable currency for the future?

The continuous bleed in prices still has not made me waiver from my strategy of buying on the dips and just holding. Because we have gone down so far i have bought much more than i was planning on

Participate in this experiment, witness mistakes by centralized political structures around the world.

I want to be a part of history that is why I keep my coins

I understand that people need to live, and also need access to their money, but if you can afford to, I think the best strategy would be not to sell any BTC at all.   Spend the money that you make from your salary or paychecks, and keep adding some to your BTC holdings.

Even if you are "selling high" and "buying low"  you will be missing out on the holding until it is "sky high" 

I think people need to be reminded that there will only be 21 mill BTC, which is not even enough for each person in California to have just 1 (let alone the entire world).   So when this thing becomes grand scale...and it eventually will, the more BTC you have, the better...

My strategy is very simple: if bitcoin's price goes up, I'm selling some, if it goes down, I'm buying more. IMO, in trending markets like Bitcoin it prevents bagholding and it prevents missing the train when the price moonrockets

Buy cheap and HODL!

You are such an ass really. Have any idea what open source is? Assuming somebody owes you something while you have most probably contributed absolutely zero, nothing, to the success of bitcoin? Yeah right, that's how it works. Go and do something, or quit your silly complaining. Nobody owes you anything. It is a community project, and you are the bad part of the community.

Getting a dog, house, sports car and multiple women is easy.

Even becoming rich and getting a mansion aren't all that difficult if that's what you're after.

Getting up at sunrise? That's just silly. I thought half the reason for accumulating wealth is to not have to get up at sunrise like some pathetic employee prole.

I'm sorry. Sunrise is past my bedtime.

Two women at once?  So you want bitcoin to be worth a million each and that might not be enough. lol

I am basically holding bitcoin as a hedge against fiat currency, and I like the libertarian side of it also.  Despite being in the financial industry, I am tired of big banks and the Fed having a vice grip on monetary policy. 

I am pretty confident about the long term success of BTC, and I think the price right now is truly a steal in the grand scheme of things...


My strategy is basically to buy and hold.   Try and buy more so on the dips, and try to keep your dollar cost average as low as possible.  When spending BTC, I try to support businesses that are only accepting BTC only.

My strategy is about hoarding BTC while using some to trade cryptocurrencies & fiat.  Hopefully trying to avoid outcomes like the ones of previous economic bubbles (e.g. the Tulip bubble, the South Sea bubble,  the dot-com bubble, the Chinese stock bubble of 2007, the Uranium bubble of 2007, etc. 

for me, I hold BTC just because I have faith in it will be the most popular payment system in the whole world sooner or later. it can help me to pay for the bill, clothes, food and the most important is it can help me to pay for the transaction without paying the fee while I make a big business with other company.

Even if bitcoin doesnt take off, you can probably still get a dog :-)

I have my BTC, to buy cheap and sell expensive.

Took my time to read this

I believe bitcoin and its technology will help usher in a new economy where resources and capital become more widely distributed and the decisions as to how they are used will be made in a more democratic way.

Why do I have Bitcoins?

Because I believe in the technology longterm, it's potential, and am sick of the credit card companies and banking system.

What is my strategy?

BUY, HODL, and ACCUMULATE more BTC's.   

With bitcoin falling so damn hard nowadays, my hopes are kinda crushed. A lot of people are saying it'll rise up to $2k per coin though, which would be pretty cool.

I try to buy some whenever it dips under $400, since that seems to be a strong resistance point and it always seems to jump back over $450 within a week.

Why do I have bitcoins you ask.  To buy things of course
Couldn't resist the 10% discount over cash that Newegg was offering, with 10.5 million products to choose from.
Dell did the same "Dell offering 10% discount when purchasing Alienware with Bitcoin".
Why would you want to pay with cash and end up paying 10% more, makes no sense to use Credit Cards or Cash.
Those days are gone

Problem with crypto coin is the technology can be copied too easily. The network effect of bitcoin has can also be copied if government insist every federal and state employee to get paid using goverment version of crypto coin.

I believe in the technology and believe that holding btc is key to creating the personal incentive to learn about the manifold apps and apply in my life. Yes, i would obviously like btc to appreciate but that's not the only outcome that matters to me

My strategy is every btcoiners strategy. To hold until BTC will be worth $10 grand.

The things you're talking about may need to be dealt with by your great grand kids. I want something in my lifetime. I either need to hold what I have my entire life or buy something with my money. I wanted to set a value for purchasing something so I did. If someone is selling a house near me for btc at that time I will use it directly. Here's what I believe about the inevitable dollar crash: http://useconomy.about.com/b/2014/05/04/10-reasons-why-the-u-s-economy-wont-collapse.htm

Huh, do you even geopolitics? The EUR and USA debt will never be paid. What happens when a country can't pay their debts? Something very bad. My prediction: CNY and in general asia going up, EUR and USD devaluation continues as they keep printing magic magic money and trying to save it with ridiculous patches.
People will start to fear this and they'll start moving money in metals and the wise and young people in Bitcoin.

I collect real estate in the hottest market in the country and I want to buy more. You believe that Bitcoin will have value in the future and so do I. I know land will always have some value. There's 5000 years of history to prove it. The only thing that could completely devalue my investments is the downfall of the current government and I can't see that happening anytime soon. I can, however, see Bitcoin eventually becoming a threat to that very government and under attack by same. I really do hope all the hodl cheerleaders are correct and Bitcoin reaches $10k each. I just don't see that happening in my lifetime and I want something to pass along to my kids that they can live in now.

Holding.

why do you think FIAT will worth peanuts in the next decade?
if you cant prove your arguement, you're just another lame person brainwashed by unreasonable bitcoin lunatics.

Why would you sell all of your BTC for FIAT money that will be worth peanuts in the next decades?

Got my bitcoin when I joined a gambling site back then. I love playing with it and trading it. Hmmm... Investing? But I am not sold to it right now.

I am new to bitcoin and I dont have any.It is nice for invensment and earning money in my opinion.

My strategy?

IN BEFORE FIAT CRASH - Buy + Hold -> Elevate socioeconomic status -> Bi-winning.

I have bitcoin because i interest to use it
my strategy about bitcoin, its simple just invest to longterm.

I dont spend bitcoin right now but I am planning to buy for investment. Might hold and forget about it for quite sometime.

Low = Buy
High = Sell
High = Hold
High = Invest

My strategy is simple, accumulate and hold as long as I can for the long term hoping the value will rise.

Im poor so im trying to grow my BTC stack before i consider moving it or spending some in BTC. Its too early.

I just want to try this thing called bitcoin. And I believe that this will not be a lost cause.

am newbie, i see bitcoin as a great investment which will help to secure my the future of wealth management, because is a digital transaction and it as more value and future in it   

I want to become a rich guy! Want to get dog, a house. Live the dream. I want to have a mansion, want to have two womens at once. I want to get up at the sunrise and get in my own sportcar. And i hope that amazing digital currency will help me to achive my goals.

to be honest, i've entered the cryptoworld because i've red somewhere that it's a good way to make some money 

Only after 1 or 2 months i've started to understand how much this cryptocoin can change the world, maybe not to soon, but soon or later for sure.

Bitcoin has been around for years. I just want a piece of the action.

Well first of, I am just a bitcoin newbie. Im still on a kinda testing phase but since you asked. I have to say that I was captured by its idea and I am wishing that these bitcoin thing will boom soon and I am going to be a part of it.

Not everybody thinks about bitcoin like you do.

Bitcoin for me at this stage is just another currency but one with great benefits. Far easier, cheaper and quicker to send funds abroad without all the red tape and delays as when done through normal banks. No need to go stand in a line, fill out forms and worse of all having to wait 3 to 6 days for it to arrive at its destination.

So for me its just another currency but with much more freedom and ease of use. I do see the potential of it appreciating in value in future and because of that I also save some, just as one would with normal fiat. So guess I treat bitcoin essentially like any other fiat currency and have no real 'investment' strategy.

For me the big thing is that I'm able to be my own bank which allows me the freedom to do with my money as I please.

Bitcoin is a good to have for a hedge against an uncertain fate of the current economy and because it's innovative technology.  I personally hold Bitcoin because I think it is going to grow like a weed with today's current economic climate being what it is.  I'm not saying the world is going to end or anything like that.  But instead bad policies for years will have an effect and Bitcoin holder's will benefit. My strategy is hold Bitcoin and anything else that is potentially going to be worth more in the future.  The best strategy is to keep in mind why Bitcoin is valuable and make sure nothing has changed to undermine it's value.  Then continue to buy and hold during the dips in the market.  When the markets stabalize you can always sell to lower your exposure or enjoy holding cheap Bitcoins for a bigger reward.

Not much of a strategy, I just believe that bitcoins will take over as the biggest currency in the world and why not be in on history? I use them in my business and I feel a lot can be gained by individuals who learn to use them, so I try to spread the word!

I'm here for history, it's historic, it's fun, it's great to be in early (even if it fades away because it's been around long enough to be remembered.)

I wish it could be a medium of exchange and an investment, but I know that's not possible.

It's up for us, the community to shape what we want this thing to be, we need to impose it on our communities and our retailers. And we CAN impose it on our retailers. I hope that some of the services that come about are investment opportunities, something that can make what I believe will ultimately be a medium of exchange useful for investment diversification.

Good luck to us all, see you on the moon.

I agree, that is a problem. With paypal opening up the gate, it might put more pressure on the market. Hopefully it'll be short term and more people will jump in to buy and join the bitcoin revolution!

Actually, I think it'll work well with already distributed work, e.g. bittorrent.

Imagine this: streaming network paid by bitcoin on demand, pay as you go. Basically, instead of paying netflix, you pay the content providers as well as the distributors (peers) bitcoin will just flow through the system. It'll be legal, virus-free, efficient, and super fast.

Hopefully, no one will have any incentive to do "normally" bittorrent anymore.

I like this. Simple and to the point. Thanks for sharing

I agree with this. A very important factor is that the technology behind bitcoin is solid. If someone finds a way to create bitcoin out of thin air, then we are done. The developers' job is to make sure that day NEVER comes.

I have bitcoins because I believe in the technology and the investment possibility to see a high return is very likely in my opinion. My strategy is to buy and hold coins for 1 or 2 years and hopefully by then I can spend them at many places buying things I really want.

protip: 'making a true demand for their coin' is not the responsibility of the developers. The developers are tasked with ensuring that the coin is technically sound. That's a critically important specialization - their attention should be focused upon this alone.

You want someone to create demand? Get off your butt and do some proselytizing. Go teach the benefits to a retailer or an investor.

Not gonna happen in the near future.

I used to mine to live (mined full time from January until July)
Now I mine gradually with my leftover hardware and look at other methods of earning BTC (1st class postage stamps anyone?).
 

...

I'm still considering what could be valuable from the creation of goods and services augmented by blockchain technology.  These disruptive technologies will come with increased efficiency and value creation.  We may lose jobs in some sectors (like cashieers - but we'll gain in others, like payment technicians)

I am very curious of how could distributed work could persist and spread possibly infrastructure overhead across users to where there is a net benefit from the decentralization (for example - web of trust models and frameworks with creators, product checkers, product reviewers, and administrative personnel all virtually outsourced and facilitated in a p2p network based model to where temp workers can gain income from simply doing intraconnected tasks for 6 hours per day {efficiency allows humans to gain the same income from reduced output through increased efficiency}). 

Unfortunately So far the status quo has been centralization and for good reason - centralization creates efficiency and importantly, consistency, however centralization has the reverse curse of focusing on the top down (executives and corporate staff get higher benefits and rewards for output unfairly as compared to the satellite, frontline employees) which is where distributed technology allows more participants a network area and by proxy greater availability of services.

...

Yes My strategy is hold and use only slightly gradually now

 I think that Bitcoin will be a World Currency that people will accept,in the future.
 So i'm basically gambling that it will increase in price.
 

When Bitcoin emerged I was a Forex trader,I watched closely as it grew and grew, After battling the big banks, the collusion and manipulation of Forex market and getting out with a nice profit I saw many new currencies emerging in the crypto world. I found a portal in to a new trading position. And one where I in fact did not need to spend any money to get involved. The ability to mine and other handy portals make getting into crypto very easy. So I jumped in while I could.

 I have a hope bitcoin will succeed, but with every passing month I see this shining hope dissipate away with unsupported development plans, unknowledgeable trading methods, no creation of demand and more and more coin dumping businesses jumping on board every day. What bitcoin needs is high dollar long term investors, and it can not get those, because it has pressured and concentrated so hard on picking up business to utilize the coin,they did not evaluate the situation before making this decision. Picking up companies like Dell and other large manufactures may seem AWESOME to most people but it in fact hurts Bitcoins value, Dell pays for thier manufacturing products with Fiat, they pay for the labor with Fiat so when a company like dell picks up the use of Bitcoins it does not create a demand but rather give kids who already have bitcoin a way to spend them. then in turn Dell has no choice but to dump them every 2 weeks. That with the mines out there, and you have a huge dumping game. the only thing securing the value of bitcoins right now is the tradable market, without a real demand Bitcoin will go back down to 20 dollars a coin and stay there. Just look at the charts since we got Dell, it lowers in value every 2 weeks, started at over 640 dollars, dropped to 620, then 600 then 580 then 540 then 500 now we are resting securely in the 477 range, next week it will be 460 to 450 and it will continue this decline until 1 of 2 things happens, either we get some high dollar investors, (which is not going to happen) or the developers of Bitcoin get off their ass and make a true demand for their coin, because a currency that has a value based strictly on trading,  has no true value at all.

ADDITIONAL NOTE FOR BITCOIN DEVELOPERS: (in hopes they read this stuff HAHA)

Stop playing this "Bitcoin is in its infancy"

Heres a little common sense for you, bitcoins is 5 years old right, ask yourself is a 5 year old child an infant? no it is not, a 5 year old child is exactly what its parents have made it, if that child is smart and developed child its because the parents did their job correctly, if the 5 year old can not read or write, does not know thier colors or numbers, its because the parents failed at their job to develop their child into an intelligent being. Bitcoin Developers you are the parents, Bitcoin is your child, ask yourself is bitcoin a well developed child?? Allow me to answer NO it is not, it is not strong, it is not independent, it has no demand, you are failing at your jobs as parents. Wake up before you child no longer exists.

I have bitcoin because I see it as an investment and most importantly the technology behind it is genious. It has HUGE potential, and I want to do whatever I can to help build the infrastructure, so bitcoin can grow and achieve mass adoption.

My strategy is simply to earn more through both content writing and some day trading on Mintpal. It seems to work so far though I can't claim any obscene profits yet.

I have Bitcoins because I mined them in 2011-2012 plus a few other things I did to collect them. My strategy is to sell them all when the value reaches $2.5 million. They need to reach at least $1,310 each and the then current transaction volume needs to be high enough for me not to effect the market price during the sale (although I could do it slowly over a few weeks if the price stays relatively stable).

Not holding anymore bitcoin.

Seems like the high price of btc has attracted a lot of people who have no ideal what they are doing. Plus, the bubble of altcoins and eventual busting of altcoins make me bearish on the outlook of btc.

why i have bitcoin ?
absolutely because i am in digital modern era  bitcoin is a good project for digital currency,

my strategy ?
HOLD, and Invest some bitcoin to gain in future 

Bitcoin has a lot of potential moving forward. Capital continues to flow into startup companies, more user friendly platforms are constantly being developed to buy/sell/store/spend bitcoin, more retailers are adopting, more atms, transactions and wallets steadily increasing, etc. I like all the growth. My strategy is to hopefully hold for years to come, and one day be wealthier because I took the risk of investing when many were not willing to. If everything comes crashing down, it won't be devastating for me financially because I haven't invested that much

Im holding a few bitcoins just for sentimental value. My strategy is to hold BTC and suffer 10%/annum inflation and watch as my money gets bled dry to pay for miners.

Cause I'm mad smart and rationally self-interested. And because I love reason and loathe violence.

nothing more to say, i think exactly this.


My estrategy is to buy lot of ghs and be ready for the BOOMMM

keeping the coins safe is actually a pain, to be honest. I think when the banks realize the importance of bitcoin and start to embrace it, we'll deposit bitcoin into the banks. The bank just has to find other ways to make money

Because Bitcoin is very interesting project, and I like the fact I dont need middleman to be able to pay with Bitcoins - it mean responsibility to keep my coins safe though (but it is usefull skill for everyone ).

I have bitcoins because I believe that bitcoin is the future and I believe we will see it become one of the bigger payment methods in years to come. Having bitcoins means I am prepared for when that time comes

Technology should be used to build a healty society and i think bitcoin will do that.

Bitcoin just fit well with today technology and will be revolutionary for world economy and many other things, i believe... 

Not everyone here is using bitcoin due to it's profitability.It's profitable only when converted to fiats.The faith in technology holds most people to bitcoin

Agree with you:) I really believe Bitcoin will be something big in the future.
And also Bitcoin help me doing transaction with anyone in the world. For strategies, i'm just holding it. Not doing trades cause i can't afford the risk.

I just think that Bitcoin will be major payment method in the future and It's price will grow up a lot so I just keep them to make money and also buy stuff.

Im here for social change as first priority and to get better resource allocation as a very close 2nd priority.   Im not interested in material wealth much beyond food/housing/transportation/not forced to work hard to survive.

I have strong faith in BTC and try to accumulate as much as I can when the price decline a lot. I sometimes pay by BTC to help it grow.

For me, I believe bitcoin will play a significant part of the financial system in the future. I just don't want to miss the boat.

Sure, maybe another 100 times increase is unlikely, but 10 fold is quite possible. It'll be great if bitcoin will be part of the banking system and transferring money will be cheap and hassle-free. Bitcoin can be an universal currency for internet and for travelling. If we have another financial crisis, I wonder how far bitcoin will go.

So, I have set aside a fixed amount of money to try to buy bitcoin periodically. I have a limit order a few dollars away from the market price and I wait for bitfinex to send me a fill email then I'll place another order.

What other strategies do you use and why do you buy bitcoin? Do you want to grow bitcoins and believe in its potential or are you just trading it to make a quick killing?

Update: Maximiser is part of my strategy to accumulate bitcoin when I don't want to guess the direction of the market.
http://www.coindesk.com/coinarch-brings-investment-banking-products-bitcoin/