Why people are holding Bitcoin? - page 122.

TryNinja

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Quote from: emberbekas on July 14, 2017, 12:49:04 PM

When people hold bitcoin, they hope that someday the price will rise several fold. But of course this requires extra patience. That's the most sensible reason in my knowledge.

This is obvious. But what is the problem in selling on the ATH, knowing that the price is in tendency to fall? Sell high and buy even more low.

I've done that and got 10% more BTC than I had a few weeks ago. Never stop trying to increase the size of your Bitcoin wallet.

jekjekman

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Quote from: nidacoinlove on July 14, 2017, 08:23:27 AM

What makes people compel to hold the bitcoin in this critical situation? What are they waiting for? Any good reason?

In my own opinion most of the people who are selling every now and then is the pure traders that really want to make this event for a living or they really need to sell it to get some Fiat. And the 2nd one is those people that really knows that this is just another trial that will test bitcoin and it will just surpass it again as usually bitcoin always does.

And lastly this is not 'critical situation' because if there is a true split that will happen it will just divide your coin into 2 but it will not divide your investment's value into 2 so to those people that really worried about this is just normal because it is so interesting that bitcoin will get a potential twin.

emberbekas

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When people hold bitcoin, they hope that someday the price will rise several fold. But of course this requires extra patience. That's the most sensible reason in my knowledge.

siddu67

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people hold bitcoin for there future purpose. They hold it for profit. If the price of bitcoin increased they can make profit by it. For that they hold it.

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Quote from: nidacoinlove on July 14, 2017, 08:23:27 AM

What makes people compel to hold the bitcoin in this critical situation? What are they waiting for? Any good reason?

Maybe they are thinking that the price would pump up and they could make some profit,
That's the only reason that I could think of right now .

Taki

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I thought this point should be clear for everybody already. Bitcoin exist for 10 years already and it had it ups and downs towards to economical and political situations, but after every fall it raised back again. People teached the nature of bitcoin and if nowadays crypto-currency newbies are panicking because of the 1st of August coming, people who in that for a long time already stay cold to all this isteria.

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Quote from: Kprawn on July 14, 2017, 11:04:11 AM

A lot of people can see the bigger picture. Bitcoin is still virtually unknown to many people globally. Go around a bit and ask people if they know what Bitcoin is and see what responses you get. People in first world countries will know a bit more about it, but most people in third world countries will have no clue. What happens when these people learn about Bitcoin and what will happen if Bitcoin can scale to handle global adoption? There is still massive potential and growth... and the price will skyrocket when that happens. Wink

I don't think anything important is going to happen

Most people are living paycheck-to-paycheck anyway, even in the so-called "first world" countries. In fact, in these countries specifically more people may actually live on credit, i.e. their future income goes to extinguish their previous debts, so they are sort of eternally locked in a debt cycle via continual borrowing that ultimately leads to a default. Bitcoin is obviously of no help to them. It is savers, not spenders that may be interested in Bitcoin

But today's economy strongly favors the latter

LegendOF45

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This is a good question, many people think that bitcoin holding is the best way to get profit, I do not think, holding bitcoin are at risk because whenever prices can go down.

Magkirap

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Quote from: ?? on ??

Because they're expecting a big rise, especially now that the bitcoin price is experiencing a hard fork. This is basically how trading works, buy low - sell high.

I certainly agree that people expecting that the price of bitcoin will rapidly increase in the future so that they hold it. In addition to that, Holding is best strategy to earn and to make good profit. However, it took time to wait. I believe that the price of bitcoin will increase day by day in the near future.

Kprawn

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A lot of people can see the bigger picture. Bitcoin is still virtually unknown to many people globally. Go around a bit and ask people if they know

what Bitcoin is and see what responses you get. People in first world countries will know a bit more about it, but most people in third world

countries will have no clue. What happens when these people learn about Bitcoin and what will happen if Bitcoin can scale to handle global

adoption? There is still massive potential and growth... and the price will skyrocket when that happens. Wink

Haladay

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Quote from: Labumi on July 14, 2017, 10:24:10 AM

Actually this is all because of the potential for greater profits, because the legal economy is very applicable in the bitcoin. If the inventory is less than the demand, then automatically the price will be higher and this is all done in the bitcoin because such laws. But it could be everything from who they want, so enjoy it what makes you want to play in the bitcoin and seek as much profit.

Yeah I don't think none of us are holding bitcoin due its high technology. The reason why we hold bitcoin is benefiting from this huge profit opportunity.

TomUyamot

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Quote from: nidacoinlove on July 14, 2017, 08:23:27 AM

What makes people compel to hold the bitcoin in this critical situation? What are they waiting for? Any good reason?

People are holding bitcoin until now even in the face of the price falling down because this is temporary. The split is also coming our way and yet people are still holding on to their bitcoins.

All because the general public who are holding some bitcoin are positive that after this storm of price dipping, bitcoin will recover and end this year with an increase in price. The price increase after this decrease moment is bigger.

webtricks

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Quote from: nidacoinlove on July 14, 2017, 08:23:27 AM

What makes people compel to hold the bitcoin in this critical situation? What are they waiting for? Any good reason?

It depends upon how you treat trading. There are three kind of people in trading world. When the prices of Bitcoin drops,
1. Panic Patients - These kind of traders hurry for sell so that they don't make losses on their investment. As a result contribute to lower prices further and worse the situation.
2. Cool Headers - These kind of traders keep hodling Bitcoin no matter it goes up or down in short span. They are big hunters and wait till they earn huge profits.
3. Opportunists - These kind of traders can be either situation benefitters or ones with immense believe in bitcoin. These are the people whom 'panic patients' sell their Bitcoin and leave the market when prices drop.

Now you can easily understand why some don't leave market no matters price drop or rise.

Labumi

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Actually this is all because of the potential for greater profits, because the legal economy is very applicable in the bitcoin. If the inventory is less than the demand, then automatically the price will be higher and this is all done in the bitcoin because such laws. But it could be everything from who they want, so enjoy it what makes you want to play in the bitcoin and seek as much profit.

BADecker

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People are waiting for this and more like it:
"'Buy Bitcoin' Sign Raised as Fed Chair Janet Yellen Testifies Before Congress," at https://bitcointalksearch.org/topic/buy-bitcoin-sign-raised-as-fed-chair-janet-yellen-testifies-before-congress-2020645.

Cool

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Quote from: nidacoinlove on July 14, 2017, 08:23:27 AM

What makes people compel to hold the bitcoin in this critical situation? What are they waiting for? Any good reason?

People like me more tend to hold because we believed that even the price of bitcoin is not stable and its fall right now time will come that it will be pump. Holding bitcoin for a long time was always worth it. It was proven already thats why we are still holding for it.

tiggytomb

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I can see what you mean "in this critical situation" obviously referring to August 1st and everything that goes with it, I myself have considered moving over to litecoin to ride the uncertainty at that time but i am now thinking that nothing major will happen as long as you own your bitcoin as in you have your keys, there might be a fluctuation in the price but i can't see it being anything major.

Shiversnow

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Quote from: nidacoinlove on July 14, 2017, 08:23:27 AM

What makes people compel to hold the bitcoin in this critical situation? What are they waiting for? Any good reason?

I agree on that why people hold their bitcoin because there is a possibility that the price of bitcoin will increase day by day in the near future. In addition to that, holding is the best thing that you could do if you really want to get a high income in the future. Lastly, I think many people know that the price bitcoin will goes up so that they decide to hold it.

Reid

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Quote from: nejibens on July 14, 2017, 09:47:58 AM

Quote from: nidacoinlove on July 14, 2017, 08:23:27 AM

What makes people compel to hold the bitcoin in this critical situation? What are they waiting for? Any good reason?

They are holding bitcoin for one simple reason : the price's rising with time. The Bitcoin price is expected to increase and going to moon within few years most likely, and it will be the best opportunity for the holders to create wealths this way.

Truth.
Most of the investors here do have that only reason. Money.
We dont know yet what the future holds so we dont understand also if it could be usable at that time.
But for now, we could profit from the increase and somehow be ready and hold more bitcoin for future plans/

gabbie2010

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There are a lot speculations that the price of bitcoin is going to skyrocket in few years to come that is why people kept holding their coins. People opinion that the price is going higher based on the fact that those who kept their bitcoin few years back are rich now.

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