Topic: Why You Should Never Sell Your Bitcoins Ever - page 158. (Read 270138 times)

Reading the responses to the recent topic titled, "I would sell all my bitcoins if…." has left me concerned.

The kinds of responses on that thread reveal a deep misunderstanding of bitcoin and the current monetary system in many of those who are speculating. Let's consider the scenario in which bitcoin reaches $1000 or let's say $10,000 per bitcoin. Many have said they will cash out if bitcoin reaches this point. Why??

If bitcoin reaches $10,000 it will have to be because the fiat currencies of the world are tumbling to worthlessness via a hyperinflation type scenario and bitcoin is the safe haven, which if you know anything about the current monetary systems of the world, you know this is inevitable. (there have been 3800 fiat currencies throughout history and EVERY SINGLE LAST ONE has crashed to worthlessness; a value of zero) Why would you then sell all of your sound money (Bitcoin) for a bunch of fiat money that is inevitably becoming worthless? I don't understand the logic in doing that.

If bitcoin ever reaches $10,000 per bitcoin, you will NEVER see me selling for fiat paper money. You may however see me having a shopping spree at Overstock.com or TigerDirect.com or NewEgg.com! I will be buying things I want with my bitcoin profits DIRECTLY WITH BITCOIN, not selling my bitcoin for paper fiat. Hopefully by then there will be many more options, perhaps even Amazon.com will be accepting bitcoin for goods and I can have my shopping spree there.

Point being, selling bitcoin for dollars seems counterproductive. Why convert your paper fiat currency into sound value storing superior bitcoin, only to sell all of your superior bitcoin back for worthless antiquated fiat currency again? Why not just spend the bitcoin itself to buy what you want instead of taking a loss by converting back into dollars which will inflate away eventually anyway?

The 2 are completely different and will be attained (if at all) with a large time difference between them.
You can't call "waiting for 100K" as a strategy.  It reminds me of those waiting for $10 bitcoins.
 

I think the rate of bitcoin is up and down, then it will not matter if we sell our bitcoin when the price is high, then we can buy it again when the price lower.
If i the price high, i think i will sell my bitcoin

it's a good strategy actually, saving a small amount in bitcoin, let's say 10 coins, and waiting for 100k in price, than going full retarded and buying 1k coins and waiting for 1k

in the first case there is almost no risk, unless you're living on the street, but the wait will kill you i presume, in the second case, the risk is greater but the chances are bigger

it's a good strategy actually, saving a small amount in bitcoin, let's say 10 coins, and waiting for 100k in price, than going full retarded and buying 1k coins and waiting for 1k

in the first case there is almost no risk, unless you're living on the street, but the wait will kill you i presume, in the second case, the risk is greater but the chances are bigger

If you post something which isn't realistic then you should back with some data to prove otherwise it's is called dreaming. What you predicted is quite impossible to get there.

Nothing imposible, but i never choose to hold it forever, you can save small amount to price $100000

I think you may be dreaming for that to happen but what if prices go back to less than your purchase price? So you should always watch out on your investments.

Reading the responses to the recent topic titled, "I would sell all my bitcoins if…." has left me concerned.

The kinds of responses on that thread reveal a deep misunderstanding of bitcoin and the current monetary system in many of those who are speculating. Let's consider the scenario in which bitcoin reaches $1000 or let's say $10,000 per bitcoin. Many have said they will cash out if bitcoin reaches this point. Why??

If bitcoin reaches $10,000 it will have to be because the fiat currencies of the world are tumbling to worthlessness via a hyperinflation type scenario and bitcoin is the safe haven, which if you know anything about the current monetary systems of the world, you know this is inevitable. (there have been 3800 fiat currencies throughout history and EVERY SINGLE LAST ONE has crashed to worthlessness; a value of zero) Why would you then sell all of your sound money (Bitcoin) for a bunch of fiat money that is inevitably becoming worthless? I don't understand the logic in doing that.

If bitcoin ever reaches $10,000 per bitcoin, you will NEVER see me selling for fiat paper money. You may however see me having a shopping spree at Overstock.com or TigerDirect.com or NewEgg.com! I will be buying things I want with my bitcoin profits DIRECTLY WITH BITCOIN, not selling my bitcoin for paper fiat. Hopefully by then there will be many more options, perhaps even Amazon.com will be accepting bitcoin for goods and I can have my shopping spree there.

Point being, selling bitcoin for dollars seems counterproductive. Why convert your paper fiat currency into sound value storing superior bitcoin, only to sell all of your superior bitcoin back for worthless antiquated fiat currency again? Why not just spend the bitcoin itself to buy what you want instead of taking a loss by converting back into dollars which will inflate away eventually anyway?

Because maybe sometime, the Bitcoin price will gone high to $100000 and then i will buy for much money

This is not a good idea to hold your bitcoins and not to sell them, it is risky as prices of bitcoins are continuously declining and there is no guarantee that in future the price of bitcoin will remain same or increased. On other hand if there is positive situation for bitcoins  and many countries have regulated the bitcoins , then there are chances to increase the price of bitcoin because there will be increase in demand for bitcoins. In that case we can hold the bitcoin that too for some time, which is safe and might be profitable.

If some world leader hated the USD, he could easily try to undermine the USD by supporting bitcoin. If enough leaders think this way, bitcoin could easily go to the moon. 

In my opinion, bitcoin will never get again to 1000$, not talking about 10k. The world leaders will not let it happen, because all the paper money in the world will be worthless.

In my opinion, bitcoin will never get again to 1000$, not talking about 10k. The world leaders will not let it happen, because all the paper money in the world will be worthless.