Topic: Why You Should Never Sell Your Bitcoins Ever - page 40. (Read 270139 times)
But don’t you think that one should keep up the place between selling and buying of bitcoin whenever one need it. The bitcoin is fair enough in its form and it is growing tremendously but converting it into fiat at specific times is not that counterproductive. If I don’t use my bitcoin today then what the use? What if in decades of time some new currency takes leap or the technology for instance and what if it engulfs the bitcoin completely. You will end up with zero valuable assets which you stored since decades and that won’t be healthy to digest really. Im just being little skeptical here that negative side can happen too. So lets watch out for it and invest with strategies and not firm decisions.
I think you should keep hold of bitcoin, because holding bitcoin certainly has chance to get big advantage from bitcoin. And i will try to manage bitcoin well, because i believe the progress of bitcoin is increasing.
There is just one reason thats bitcoin huge potencial to grow into value, but as several people does they trade daily and play with pumps to try to grow their capital step by step, and we need bitcoins to keep into circulation, imagine all current people just hold bitcoin, soo the supply would be the new blocks, since miners has to pay bills and some of them need to sell a part of the coins.
yes that is right but it does not mean to hold our bitcoin forever. i think sometime people find it hard to take a right decision in right time. Sometimes we also experience panic when bitcoin price is entering the downtrend. I cannot ignore this, but right now I can better understand and continue to hold it, I just sell it for trading purposes in altcoin market and for monthly purposes.
There is just one reason thats bitcoin huge potencial to grow into value, but as several people does they trade daily and play with pumps to try to grow their capital step by step, and we need bitcoins to keep into circulation, imagine all current people just hold bitcoin, soo the supply would be the new blocks, since miners has to pay bills and some of them need to sell a part of the coins.
yes that is right but it does not mean to hold our bitcoin forever. i think sometime people find it hard to take a right decision in right time. those people who have good experience in trading they never hold their bitcoin for ever but they waiting for the right time sell their bitcoin, and therefore they mostly get good profit from bitcoin. 
If bitcoin is a secondary source of income for you and if you have a day job that pays you in fiat then I think there is no need to sell your bitcoins as you have fiat to take care of your expenses and bitcoins should be saved without spending to gain more benefits in future.
Agreed, it would be totally unfair to sell off bitcoins for fun or for wasting money on some unimportant businesses. Obviously when you have diamond and gold, you should give up on gold to meet daily expenses than diamond. Bitcoins are one of the expensive assets one can have in today’s world. So why to give up on them for trivial things ?
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?
You are correct but if I’m going to spend my bitcoin I prefer to do it in something that is an investment as well like a house and not in something that is going to lose a lot of value as soon as the next device comes into the market. 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?
There is just one reason thats bitcoin huge potencial to grow into value, but as several people does they trade daily and play with pumps to try to grow their capital step by step, and we need bitcoins to keep into circulation, imagine all current people just hold bitcoin, soo the supply would be the new blocks, since miners has to pay bills and some of them need to sell a part of the coins.
Selling bitcoins at this current price is like throwing your only way to millions someday. And its already official that segwit is only for bitcoin,which only means that bitcoin will keep on increasing as month goes by. And in no time will be seeing maybe 30k -$40k value in price .
Lol then you still would have to sell your bitcoins right? Its funny to think that you're not gonna be selling btcs ever. What do you suppoae you're going to do with your btcs? Even if let's say the price does shoot up to the moon and the sun, you're only going to enjoy your savings by selling
Without cashing them out, we can enjoy ride to the moon or sun. Those who are holding to their bitcoins are obviously going to sell them. But even if they are not willing to sell them in the near future, there is no harm in that.
If bitcoin is a secondary source of income for you and if you have a day job that pays you in fiat then I think there is no need to sell your bitcoins as you have fiat to take care of your expenses and bitcoins should be saved without spending to gain more benefits in future.
Agreed, it would be totally unfair to sell off bitcoins for fun or for wasting money on some unimportant businesses. Obviously when you have diamond and gold, you should give up on gold to meet daily expenses than diamond. Bitcoins are one of the expensive assets one can have in today’s world. So why to give up on them for trivial things ?
I can sell bitcoin only if I really need money urgently or I can get a good profit from the sale, but I hope to keep the coins until the price increases for a flight to the moon.
To convert from BTC to fiat there will be a fee, whereas just buying whatever it is directly with bitcoin there will not.
In every transactions that we are going to make there is always a fee of charges. Only the difference was the percentage in every exchange platform that we are going to use. So, if you see that the value is not yet increase, hold it more until it reaches the peak amount of price that you've been waiting for.
To convert from BTC to fiat there will be a fee, whereas just buying whatever it is directly with bitcoin there will not.
In every transactions that we are going to make there is always a fee of charges. Only the difference was the percentage in every exchange platform that we are going to use. So, if you see that the value is not yet increase, hold it more until it reaches the peak amount of price that you've been waiting for.
To convert from BTC to fiat there will be a fee, whereas just buying whatever it is directly with bitcoin there will not.
In every transactions that we are going to make there is always a fee of charges. Only the difference was the percentage in every exchange platform that we are going to use. So, if you see that the value is not yet increase, hold it more until it reaches the peak amount of price that you've been waiting for.
bitcoin it is just money. why do u need money if u dont spend it? of course not all for the one day but u have to sped it once
Spend it only when needed the most,you might regret spending it or cashing it out when the btc value increase in huge amount and you do not have any btc left or think that the btc you have should be x3 of your already if didn't spend it yet. Time will come that we will spend it maybe when it already buy things we needed and wanted so we can't regret it.
bitcoin it is just money. why do u need money if u dont spend it? of course not all for the one day but u have to sped it once
To convert from BTC to fiat there will be a fee, whereas just buying whatever it is directly with bitcoin there will not.
Yes. Most things have to be bought in cash while Bitcoin is not popular for payment so every one has to switch to Fiat to pay even though it takes a transfer fee.
If you want to get rid of transaction fees then you can start using bitcoin debit card as it is accepted everywhere like debit and credit cards and there is no fees involved if you use it at physical place for shopping and it can save your money.
To convert from BTC to fiat there will be a fee, whereas just buying whatever it is directly with bitcoin there will not.
Yes. Most things have to be bought in cash while Bitcoin is not popular for payment so every one has to switch to Fiat to pay even though it takes a transfer fee.
I will sell my coins if I am making good profits from it but I will never sell all my coins and will save some of them for future as price will be higher in long term so its better to have some coins in wallet to sell them at higher price in future.
Idea is good.Instead of converting bitcoins again in to fiat and spending a amount as fee for it and then buying any goods with that fiat cash,directly we could buy such goods with bitcoin itself.But,where could we find services or shops which sell all products for bitcoins.Its available only in japan now since bitcoin has been legalized there.It would take long time to buy goods with bitcoin itself in other parts of the world.
Availability of merchants accepting bitcoin depends on certain location. It's not about that there are only in Japan but we can really sees lots of merchants accepting bitcoin because of their actions taken to bitcoin as legal currency.
How to find if there's a merchant available at your place or even possibilities to use your bitcoin to purchase things? EXPLORE. There are services that supported different countries or who knows that you have local exchanger there which have a services like that. You can ask your local crypto community there by reaching them thru social medias or in your local section here in the forum.
Selling bitcoins never doesn't make any sense to me as I will always sell my bitcoins when I am making enough profits from it but I will also save some of it for future to sell at much higher price as I don't want to regret by not selling at the right time.
Yup, if you are in profit, then its not bad to convert it or spend it. I believe many don't use Bitcoin as investment, rather as a transaction medium. Like I know many who just put in money to wallets and uses it to spend on steam.
If I talk about people who earns or acquires cryptos, then its different. I believe neither keep all nor sell all. But similarly many holds and uses it to invest in other cryptos rather than converting any to fiat. So it depends on requirements and mentality obviously.
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