Why You Should Never Sell Your Bitcoins Ever - page 164.

Prasmatic

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Quote from: pereira4 on July 23, 2015, 05:36:16 PM

Quote from: gentlemand on July 23, 2015, 05:18:09 PM

Quote from: wearepoor on July 23, 2015, 11:11:55 AM

Being optimistic is good, but you also cannot afford to neglect the reality attached with bitcoin, and the reality is it is too volatile, uncertain and that's the reason many people just ignore to hold bitcoin but selling a part of bitcoin is affordable when prices goes high but selling all bitcoins would be a bad idea.

I'm not saying it'll be any time soon, but if it does start to really fly then every previous expectation will be blown to pieces. People need to be flexible and willing to discard Bitcoin's previous track record.

It's exactly the same as the ancient mantra of 'Bitcoin never goes below its previous all time high' and then it, er, did. That was based on a whole 2-3 years of 'history'.

This market is microscopic and ever developing. People get excited about trades that amount to a couple of hundred thousand dollars. That would be scoffed at by hardened traders. It's something that needs to be kept in mind.

You can find failed "this will never go beyond X" price threads all over the place if you search for them.

https://bitcointalksearch.org/topic/bitcoin-will-never-reach-100-again-140394

This thread for example. Legendary member said we would never reach 100 dollars again. LOL

Well there is nothing that can be true or not if we based on a member rank.
I know he can know much better that us how bitcoin price works.
But there are many other factors that should consider

and I think it will reach 400$ soon.

pereira4

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Quote from: gentlemand on July 23, 2015, 05:18:09 PM

Quote from: wearepoor on July 23, 2015, 11:11:55 AM

Being optimistic is good, but you also cannot afford to neglect the reality attached with bitcoin, and the reality is it is too volatile, uncertain and that's the reason many people just ignore to hold bitcoin but selling a part of bitcoin is affordable when prices goes high but selling all bitcoins would be a bad idea.

I'm not saying it'll be any time soon, but if it does start to really fly then every previous expectation will be blown to pieces. People need to be flexible and willing to discard Bitcoin's previous track record.

It's exactly the same as the ancient mantra of 'Bitcoin never goes below its previous all time high' and then it, er, did. That was based on a whole 2-3 years of 'history'.

This market is microscopic and ever developing. People get excited about trades that amount to a couple of hundred thousand dollars. That would be scoffed at by hardened traders. It's something that needs to be kept in mind.

You can find failed "this will never go beyond X" price threads all over the place if you search for them.

https://bitcointalksearch.org/topic/bitcoin-will-never-reach-100-again-140394

This thread for example. Legendary member said we would never reach 100 dollars again. LOL

Prasmatic

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Quote from: bryant.coleman on July 23, 2015, 10:27:59 AM

Not everyone will be having that choice with them. I have dumped more than 90% of my Bitcoin holdings in the past 4-5 months. I am going through a very difficult stage, financially. I am deep in debt, with some of the repayments due in the next 3-4 months. Apart from my coins, I had only a few grand worth of equities as savings. So... I sold 90% of my coins, and 90% of my equities.

Well that is a situation that nobody would like to be.
As I said before selling bitcoin can be if you need the money urgently.
And you have no other choice where to get the money, then bitcoin can help you.

gentlemand

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Quote from: wearepoor on July 23, 2015, 11:11:55 AM

Being optimistic is good, but you also cannot afford to neglect the reality attached with bitcoin, and the reality is it is too volatile, uncertain and that's the reason many people just ignore to hold bitcoin but selling a part of bitcoin is affordable when prices goes high but selling all bitcoins would be a bad idea.

I'm not saying it'll be any time soon, but if it does start to really fly then every previous expectation will be blown to pieces. People need to be flexible and willing to discard Bitcoin's previous track record.

It's exactly the same as the ancient mantra of 'Bitcoin never goes below its previous all time high' and then it, er, did. That was based on a whole 2-3 years of 'history'.

This market is microscopic and ever developing. People get excited about trades that amount to a couple of hundred thousand dollars. That would be scoffed at by hardened traders. It's something that needs to be kept in mind.

wearepoor

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Quote from: Prasmatic on July 23, 2015, 10:01:29 AM

Quote from: gentlemand on July 23, 2015, 09:07:23 AM

Quote from: AtheistAKASaneBrain on July 23, 2015, 08:55:05 AM

I agree with the fact one should hold literally forever. The thing is, big bubbles happen and the opportunity to x5 your BTC by selling on a peak is always there.. but who wants to risk it? you not only need to nail it when selling at a peak, you need to nail it when buying back on a correction.

Just maybe one day it'll hit its eternal September and those who thought they were heroes selling off to buy back lower end up looking like dicks when it don't. Everyone's a trading hero in retrospect and market behaviour is ingrained until it's not.

Everyone is optimistic so we should be like that.
But we also should be based on facts that are happening these times to bitcoin.
The price can go much much higher, but it is stuck there for a long time.

Being optimistic is good, but you also cannot afford to neglect the reality attached with bitcoin, and the reality is it is too volatile, uncertain and that's the reason many people just ignore to hold bitcoin but selling a part of bitcoin is affordable when prices goes high but selling all bitcoins would be a bad idea.

bryant.coleman

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Not everyone will be having that choice with them. I have dumped more than 90% of my Bitcoin holdings in the past 4-5 months. I am going through a very difficult stage, financially. I am deep in debt, with some of the repayments due in the next 3-4 months. Apart from my coins, I had only a few grand worth of equities as savings. So... I sold 90% of my coins, and 90% of my equities.

Prasmatic

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Quote from: gentlemand on July 23, 2015, 09:07:23 AM

Quote from: AtheistAKASaneBrain on July 23, 2015, 08:55:05 AM

I agree with the fact one should hold literally forever. The thing is, big bubbles happen and the opportunity to x5 your BTC by selling on a peak is always there.. but who wants to risk it? you not only need to nail it when selling at a peak, you need to nail it when buying back on a correction.

Just maybe one day it'll hit its eternal September and those who thought they were heroes selling off to buy back lower end up looking like dicks when it don't. Everyone's a trading hero in retrospect and market behaviour is ingrained until it's not.

Everyone is optimistic so we should be like that.
But we also should be based on facts that are happening these times to bitcoin.
The price can go much much higher, but it is stuck there for a long time.

gentlemand

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Welt Am Draht

Quote from: AtheistAKASaneBrain on July 23, 2015, 08:55:05 AM

I agree with the fact one should hold literally forever. The thing is, big bubbles happen and the opportunity to x5 your BTC by selling on a peak is always there.. but who wants to risk it? you not only need to nail it when selling at a peak, you need to nail it when buying back on a correction.

Just maybe one day it'll hit its eternal September and those who thought they were heroes selling off to buy back lower end up looking like dicks when it don't. Everyone's a trading hero in retrospect and market behaviour is ingrained until it's not.

Prasmatic

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Activity: 171

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Quote from: Mickeyb on July 23, 2015, 02:55:45 AM

Quote from: Amph on July 23, 2015, 02:16:36 AM

i think people are allowed to sell for emergencies(which is what i'm doing) if they bought bitcoin for investments but then they need absolutely the money back or a portion of it

or if they didn't invest in bitcoin and acquired them in an easy way via instamining, premining ecc...(i'm talking about those quarkguy that acquired million in bitcoin via quarcoin), because they could turn nothing in big profit, it's like printing money lol

Yes, I am doing the same thing. So far in a 2 years I have sold only twice and that was when I needed the money badly. Few months after, I got what I sold and even more since the price has droped considerably.

Well we start to keep and hold the bitcoin like forever.
But sometimes it comes a time that you should sell whatever you have including bitcoin.
And when you are needed for money.

AtheistAKASaneBrain

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Quote from: newb4now on July 23, 2015, 01:46:41 AM

Quote from: shorena on July 20, 2015, 02:57:47 AM

Quote from: BitProdigy on July 19, 2015, 09:43:04 PM

-snip-
Point being, selling bitcoin for dollars seems counterproductive.
-snip-

That graphic explains your point well. More so for people that have actually seen the movie.

I do see your point. However there is danger in leaving everything in one asset class. BTC could rise rapidly to high levels and then later crash to 0. Total loss could have been avoided by selling some BTC or trading it for another asset class when prices were high.

Its not all or nothing. You can sell some of your BTC and keep the rest

I agree with the fact one should hold literally forever. The thing is, big bubbles happen and the opportunity to x5 your BTC by selling on a peak is always there.. but who wants to risk it? you not only need to nail it when selling at a peak, you need to nail it when buying back on a correction.

Mickeyb

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Move On !!!!!!

Quote from: Amph on July 23, 2015, 02:16:36 AM

i think people are allowed to sell for emergencies(which is what i'm doing) if they bought bitcoin for investments but then they need absolutely the money back or a portion of it

or if they didn't invest in bitcoin and acquired them in an easy way via instamining, premining ecc...(i'm talking about those quarkguy that acquired million in bitcoin via quarcoin), because they could turn nothing in big profit, it's like printing money lol

Yes, I am doing the same thing. So far in a 2 years I have sold only twice and that was when I needed the money badly. Few months after, I got what I sold and even more since the price has droped considerably.

Amph

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i think people are allowed to sell for emergencies(which is what i'm doing) if they bought bitcoin for investments but then they need absolutely the money back or a portion of it

or if they didn't invest in bitcoin and acquired them in an easy way via instamining, premining ecc...(i'm talking about those quarkguy that acquired million in bitcoin via quarcoin), because they could turn nothing in big profit, it's like printing money lol

newb4now

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Quote from: shorena on July 20, 2015, 02:57:47 AM

Quote from: BitProdigy on July 19, 2015, 09:43:04 PM

-snip-
Point being, selling bitcoin for dollars seems counterproductive.
-snip-

That graphic explains your point well. More so for people that have actually seen the movie.

I do see your point. However there is danger in leaving everything in one asset class. BTC could rise rapidly to high levels and then later crash to 0. Total loss could have been avoided by selling some BTC or trading it for another asset class when prices were high.

Its not all or nothing. You can sell some of your BTC and keep the rest

Mickeyb

hero member

Activity: 798

Merit: 1000

Move On !!!!!!

Quote from: Xenoph0bia on July 22, 2015, 10:07:40 PM

Quote from: pureelite on July 22, 2015, 03:15:38 PM

Quote from: BitProdigy on July 19, 2015, 09:43:04 PM

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?

I do not think so , I think we need to earn bitcoins , but right now that is selling and buying other currencies , because the value of Bitcoin decline , and so can your money, your hard work go to waste

Your hard work and your hard earned money will never go waste if you have worked with great level of dedication and honesty. If the value of bitcoin is declining at a moment, no need to worry, focus on future and keep on earning and growing your bitcoins and never sell all your bitcoins.

Exactly, don't let the declining prices fool you people. Bitcoin economy is very healthy. Ton of money is coming in from the VCs and other reputable businesses.

The fact that bitcoin prices have been declining over the last period of time is just that price had to find its equilibrium. This equilibrium is the price of about $250 that we are seeing now. Bitcoin was simply overbought when it went over $1000.

Mr.jatt

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Because their prices will always rise and sky is the limit or maybe beyond the infinity.

Xenoph0bia

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Quote from: pureelite on July 22, 2015, 03:15:38 PM

Quote from: BitProdigy on July 19, 2015, 09:43:04 PM

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?

I do not think so , I think we need to earn bitcoins , but right now that is selling and buying other currencies , because the value of Bitcoin decline , and so can your money, your hard work go to waste

Your hard work and your hard earned money will never go waste if you have worked with great level of dedication and honesty. If the value of bitcoin is declining at a moment, no need to worry, focus on future and keep on earning and growing your bitcoins and never sell all your bitcoins.

gentlemand

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Welt Am Draht

What the fuck is this shit with $10,000 coins equaling hyper inflation? That would give a market cap of $150 billion ish. That is NOTHING in terms of global turnover.

There really should be a basic arithmetic test before people are allowed to post here.

Proxiebuier

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I can't hold my bitcoin for long time
I sell my bitcoin at price 190$ 230 $ 300 $ also at 500$ in 2013
Im never Think twice to sell bitcoin if i need money to cost of life, like internet cost, electric cost and some drink

my point is how to growing my bitcoin with trade in altcoin Roll Eyes

wearepoor

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Quote from: michietn94 on July 20, 2015, 11:23:07 AM

yeah this another reason Why I will not sell all of my bitcoin. Sometimes we can't predict that something can happen without being expected. Just hold bitcoin will help us as bitcoin user to crack up it's price no matter how "storm" will coming by

Yes & Mr.Santoshi have predicted the price of $52k that's what I heard from my friend who is using bitcoins since long time back. Just imagine $52k per coin that is amazing what else we can ask for, just hope that Santhoshi's prediction becomes true.

PolarPoint

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You cannot tell people they should never sell bitcoin. Everyone holds different percentages of their wealth in bitcoin. You might hold a small percentage and can afford to loose part of that investment when bitcoin price is in decline. There are others who hold a large part their savings in bitcoin. They should sell their bitcoin for fiat when price is crashing, to protect their wealth, and buy them back when price stabilises.

The best I could say is "never sell all your bitcoin" ever.

Topic: Why You Should Never Sell Your Bitcoins Ever - page 164. (Read 270173 times)