Why You Should Never Sell Your Bitcoins Ever - page 33.

Xester

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Quote from: franco123 on September 06, 2017, 10:24:14 PM

Of course if you will be positive Bitcoin will make you rich in the future. But in reality, when can never say what the future of Bitcoin will be. It might spike up, but it might also fall down. The demand of the people today is rising but it will have a downfall time somewhere in the future. In my opinion, we hold the Bitcoin but still manage it in order to mimize the risk of of loosing our money. There are a lot of ther investments that we can diversify our money on.

Yes you are correct. Bitcoin proce is volatile thus, we cannot be certained if we will have a good fortune of it or not after investing. There is always a risk and that will not change. But of course having risk means a great gain.

But I sell my bitcoin everytime I need it because I am here to earn an additional income.

fullhdpixel

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Quote from: jaysabi on September 06, 2017, 10:48:54 AM

Quote from: BitProdigy on July 19, 2015, 10:43:04 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?

Since we are virtually halfway to what everyone would have considered at the time of this post to be a ridiculous notion (that bitcoin would anytime soon be at $10,000 when it was trading below $300), we should have enough of an idea at this point to lay waste to the assertions made in the original post that the only reason Bitcoin would be reaching $10,000 is because the fiat currencies of the world are tumbling due to hyperinflation and everyone is turning to bitcoin to flee the ravishes of the evil central bankers, dear god save us all.

With bitcoin now trading above $4500 in a not completely volatile way, it is not the failure of world currencies that has pushed bitcoin to this price, but pure speculation. The OP also misses the irony of saying that at $10,000, they will never sell for fiat but would rather go on a shopping spree at various merchants, which is the same as converting to fiat anyway. The point isn't whether or not you cash out to fiat specifically, but cash out period to lock in your gains. If you do that with fiat or consumer goods, that's a distinction without a difference; it's the same effect.

If you're sitting on a pile of gain in a speculative asset, there's no reason here (and certainly no reason provided by OP) not to take risk of the table and convert to a more stable currency, which all the major fiats of the world are compared to btc, eve though it trades at $4500.

There is no need to give up on the most precious digital coins when you don’t have any emergency or need money desperately. Keep them in wallets because soon they are going to touch the unbelievable values making the investors new millionaires. Bitcoins are the assets of the future.

stunvn

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Looked at the weekly chart and I am afraid to hold. That's why I sold.

Bitcoin price has gone too high. If the traders on this market really follow TA indicators, I think they should have a look at weekly chart.

I know that many of you revive the past and predict the future. But, what if it's a black swan?

Casdinyard

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Quote from: winterland on September 06, 2017, 05:57:41 PM

Quote from: Himanshu111 on September 02, 2017, 06:03:46 AM

Bitcoin is one of the fastest growing investment in the market right now and the pace at which Bitcoin is gaining popularity is only making it more and more valuable. Bitcoin has a lot of potential to grow and if you sell, you only loose your potential profit.

Since the amount of people that have adopted bitcoin is so low I think it is a mistake to sell at this point the big adoption is still to come and I do not plan to miss a single dollar of that when people realize the potential of bitcoin.

I think it's not that bad to sell some bitcoin if you're in need some fiat especially when there's an emergency.
And just buy back again if there's some dips again. Truly HODLing is real as I seen how bitcoin behaves this year and it's more profitable when you hold it for long term. We're all hoping that as days passes by bitcoin price will increase more. Just by touching $5000 really indicates that bitcoin can go that far and nothing's impossible.

Weawant

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Quote from: Sled on September 06, 2017, 10:02:47 PM

Quote from: Viscore on September 06, 2017, 07:39:12 PM

Quote from: winterland on September 06, 2017, 05:57:41 PM

Quote from: Himanshu111 on September 02, 2017, 06:03:46 AM

Bitcoin is one of the fastest growing investment in the market right now and the pace at which Bitcoin is gaining popularity is only making it more and more valuable. Bitcoin has a lot of potential to grow and if you sell, you only loose your potential profit.

Since the amount of people that have adopted bitcoin is so low I think it is a mistake to sell at this point the big adoption is still to come and I do not plan to miss a single dollar of that when people realize the potential of bitcoin.

It's low because it's too early now and people who adopted this early will surely get great benefits in the future.
By holding bitcoins we can expect that we have a great future because the value will surely grow and when selling this early we loss the opportunity
to grow our investment more, we have to be strong when we plan to hold longer.

We just need to be responsible to our words so we can have a lot of benefits in the future because if we are going to stick with our rules and plans then not selling right now is not a problem because we surely hold it for the future because we all know that we can get more money and profits in the future.

But the real reality about selling right now is so debatable since there are more people cannot afford to hold their coin much longer since some of them are just short term traders and also I really think that the only holders that can able to hold for so long is those people who have lots of balance in short they are rich since they will not surely need some immediate balance and their funds will intend to hold for that matters.

franco123

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Of course if you will be positive Bitcoin will make you rich in the future. But in reality, when can never say what the future of Bitcoin will be. It might spike up, but it might also fall down. The demand of the people today is rising but it will have a downfall time somewhere in the future. In my opinion, we hold the Bitcoin but still manage it in order to mimize the risk of of loosing our money. There are a lot of ther investments that we can diversify our money on.

Sled

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Quote from: Viscore on September 06, 2017, 07:39:12 PM

Quote from: winterland on September 06, 2017, 05:57:41 PM

Quote from: Himanshu111 on September 02, 2017, 06:03:46 AM

Bitcoin is one of the fastest growing investment in the market right now and the pace at which Bitcoin is gaining popularity is only making it more and more valuable. Bitcoin has a lot of potential to grow and if you sell, you only loose your potential profit.

Since the amount of people that have adopted bitcoin is so low I think it is a mistake to sell at this point the big adoption is still to come and I do not plan to miss a single dollar of that when people realize the potential of bitcoin.

It's low because it's too early now and people who adopted this early will surely get great benefits in the future.
By holding bitcoins we can expect that we have a great future because the value will surely grow and when selling this early we loss the opportunity
to grow our investment more, we have to be strong when we plan to hold longer.

We just need to be responsible to our words so we can have a lot of benefits in the future because if we are going to stick with our rules and plans then not selling right now is not a problem because we surely hold it for the future because we all know that we can get more money and profits in the future.

Viscore

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Quote from: winterland on September 06, 2017, 05:57:41 PM

Quote from: Himanshu111 on September 02, 2017, 06:03:46 AM

Bitcoin is one of the fastest growing investment in the market right now and the pace at which Bitcoin is gaining popularity is only making it more and more valuable. Bitcoin has a lot of potential to grow and if you sell, you only loose your potential profit.

Since the amount of people that have adopted bitcoin is so low I think it is a mistake to sell at this point the big adoption is still to come and I do not plan to miss a single dollar of that when people realize the potential of bitcoin.

It's low because it's too early now and people who adopted this early will surely get great benefits in the future.
By holding bitcoins we can expect that we have a great future because the value will surely grow and when selling this early we loss the opportunity
to grow our investment more, we have to be strong when we plan to hold longer.

winterland

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Quote from: Himanshu111 on September 02, 2017, 06:03:46 AM

Bitcoin is one of the fastest growing investment in the market right now and the pace at which Bitcoin is gaining popularity is only making it more and more valuable. Bitcoin has a lot of potential to grow and if you sell, you only loose your potential profit.

Since the amount of people that have adopted bitcoin is so low I think it is a mistake to sell at this point the big adoption is still to come and I do not plan to miss a single dollar of that when people realize the potential of bitcoin.

btccash24

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I regret that i have sold 14 bitcoins 3 months ago ago, I did some exchanges as well with a huge profit, but that's what i was planning from the beginning . It is better for all traders to use the bitcoin to buy coins when they are falling and then sell for with some $ income.

feiss

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Quote from: PJ_L on September 06, 2017, 02:31:40 PM

But if everyone just holds their BTC and no exchange is used, then it becomes rather useless, does it not? Like the infamous Dutch tulip bubble? Well not exactly like that.. but still. I fail to understand where does the value of the bitcoin come from? Its valuable only because it is scarce? How does that make any sense ?

There is always a movement of bitcoins when you sell and buy it. The reason why can't keep the price up, for its popularity, demand, supply, and ability to grow its price. I don't wonder would Bitcoin still exist after 20 years. I will still continue using Bitcoin.

Lumada

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Quote from: iluvpie60 on September 06, 2017, 04:26:19 PM

Quote from: BitProdigy on July 19, 2015, 10:43:04 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 only cash out small parts of the tiny amount I earn per week

I try to keep as much as I am able to. Wish I could have bought more in in the past as Iknew about bitoin very early on.

BTC will be worth a lot more later in a decade or 2 decades. If you are spending all of your coins now, you are going to be upset in 10 years or 20 years.

If we cash out now, we might regret later. That's how btc works. The more we hold it, the more we can appreciate it in the future. There are lot's of ways btc will be able to have a huge increase soon

iluvpie60

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Quote from: BitProdigy on July 19, 2015, 10:43:04 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 only cash out small parts of the tiny amount I earn per week

I try to keep as much as I am able to. Wish I could have bought more in in the past as Iknew about bitoin very early on.

BTC will be worth a lot more later in a decade or 2 decades. If you are spending all of your coins now, you are going to be upset in 10 years or 20 years.

PJ_L

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But if everyone just holds their BTC and no exchange is used, then it becomes rather useless, does it not? Like the infamous Dutch tulip bubble? Well not exactly like that.. but still. I fail to understand where does the value of the bitcoin come from? Its valuable only because it is scarce? How does that make any sense ?

Tigerheart3026

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Because Holding bitcoin now wasvery profitable, most of teh old member in the forum they said hold your bitcoin 1 month or 2 months from now bitcoin will become 7000$, so better stick unto it and be patience in waiting.

stunvn

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I sold all my bitcoin at $4822.

Bought some fucking alts dip but it go lower. I have to cut loss Cry

layoutph

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Hi OP, do not say or promote that never sell your Bitcoin "ever". Bitcoin will not grow if you will not use it. There should be a buy and sell movement. Or else it will crash.

I also have Bitcoin, but I sell it regularly to buy important things like payments to my electricity bills. I also sell it to buy altcoins that will pump to grew my Bitcoin investment.

Thats it!

jaysabi

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Quote from: BitProdigy on July 19, 2015, 10:43:04 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?

Since we are virtually halfway to what everyone would have considered at the time of this post to be a ridiculous notion (that bitcoin would anytime soon be at $10,000 when it was trading below $300), we should have enough of an idea at this point to lay waste to the assertions made in the original post that the only reason Bitcoin would be reaching $10,000 is because the fiat currencies of the world are tumbling due to hyperinflation and everyone is turning to bitcoin to flee the ravishes of the evil central bankers, dear god save us all.

With bitcoin now trading above $4500 in a not completely volatile way, it is not the failure of world currencies that has pushed bitcoin to this price, but pure speculation. The OP also misses the irony of saying that at $10,000, they will never sell for fiat but would rather go on a shopping spree at various merchants, which is the same as converting to fiat anyway. The point isn't whether or not you cash out to fiat specifically, but cash out period to lock in your gains. If you do that with fiat or consumer goods, that's a distinction without a difference; it's the same effect.

If you're sitting on a pile of gain in a speculative asset, there's no reason here (and certainly no reason provided by OP) not to take risk of the table and convert to a more stable currency, which all the major fiats of the world are compared to btc, eve though it trades at $4500.

minizi99

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Bitcoin for a long time keeps a huge profit and sell it because of the panic stupid. If you have enough money for a normal life, then bitcoin should try to keep as long as possible.

Xester

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Quote from: IAMYOURLEADER on September 05, 2017, 05:04:31 AM

It's your choice and you have the right to do that because that is your bitcoin. But for an average person like me that doesn't have a good amount of money, I would sell any amount of bitcoin that I have if I'm already satisfied with its value.

Yes of course we are in control of what to do with our bitcoins. As for me, I am earning an extra income through bitcoin and uses that for my expenses that cannot be covered by my salary. Since bitcoin now has gone up high, I still sell my bitcoins but I make it a point that I save some of it. I save for my future so I did not convert part of my earnings.

Topic: Why You Should Never Sell Your Bitcoins Ever - page 33. (Read 270139 times)