Topic: Why You Should Never Sell Your Bitcoins Ever - page 51. (Read 270173 times)
maybe because they believed that someday bitcoin value will increase up to 2000$, though right now is 1000$, but nothing is impossible if the demand of the community will be in high volume, due to its very unique concepts of bitcoin.
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 am sorry, I really don't understand. Okay it's free to give an opinion and that is yours.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?
For me, peoples will sell bitcoin if it touch $10.000 is the right way to get some big profit. Why? Because bitcoin is not like fiat. It's not same. Bitcoin has an extremely fluctuations, it's not stable on the price. If you think the fiat will be worthless is bitcoin touch the highest price, you totally wrong.
If one day I will not sell my bitcoins, why I am investing my money in bitcoin now? I mean it is pointless to have something if you will not use it one day in the future. For example, I have 1 bitcoin now but I don't use it. What is the meaning of to have it? Just wasting time, energy and also money.
Yes you have the point that's why the title itself is misleading. And if doing 'never' sell is just a crazy thing to invest for. Of course that's why we are investing in bitcoins because we know that it is going to give us good profit upon selling them when it reaches higher price. And that's the main reason why we must sell our bitcoins but in the right time, not never.
I agree 100%. We all earn bitcoins for our self to buy stuffs and help our family so just what you said what is the point of saving if your not going to spend it. I invest and earn bitcoins for my future and that means that I am going to spend it in the future in the right time and even now If I need it. So I am totally agree with you mate. Earn bitcoins to spend it.
currently bitcoin price keep improving , so holding bitcoin for very long long time are worth , and that is why op speculating about how you should never sell not in the true meaning to really never convert/sell it.
If one day I will not sell my bitcoins, why I am investing my money in bitcoin now? I mean it is pointless to have something if you will not use it one day in the future. For example, I have 1 bitcoin now but I don't use it. What is the meaning of to have it? Just wasting time, energy and also money.
Yes you have the point that's why the title itself is misleading. And if doing 'never' sell is just a crazy thing to invest for. Of course that's why we are investing in bitcoins because we know that it is going to give us good profit upon selling them when it reaches higher price. And that's the main reason why we must sell our bitcoins but in the right time, not never.
doens't mean you really will never ever sell , but it is exaggerate words ,
mean you have to hold as long as possible feel like you will never sell it ,
at some point of course you have to sell it but not now in the near future.
But even the possibility of really never sell his coins is a respectable decision, because I have met some bitcoiners that are seriously thinking about the possibility of storing bitcoins to inherit them to their children, and it talks about their faith, confidence and commitment with the future of bitcoin.
And yet the never sell Bitcoin ever will then fail, since after giving it to their grand children, this kids will convert it to cash for sure. The intention of the advise is good but somehow not selling Bitcoin ever is just a dumb idea. I will alway sell my BTC whenever I see a profit and buy them again if it goes down. Or cut loses if Bitcoin price crumble back to cens, than not selling it and left with worthles coin if worst thing happen.
I agree with you. It's a bad idea to don't sell it. To make bitcoin or any other currency worthful it must be traded, sold, bought... If there isn't movimentation the currency will die and those holding will have few cents in bitcoins left.
Use bitcoin as normal currency or try to do it, as it's hard to use it daily for now. If we do this the currency will continue growing and bringing more persons to use it.
If one day I will not sell my bitcoins, why I am investing my money in bitcoin now? I mean it is pointless to have something if you will not use it one day in the future. For example, I have 1 bitcoin now but I don't use it. What is the meaning of to have it? Just wasting time, energy and also money.
Yes you have the point that's why the title itself is misleading. And if doing 'never' sell is just a crazy thing to invest for. Of course that's why we are investing in bitcoins because we know that it is going to give us good profit upon selling them when it reaches higher price. And that's the main reason why we must sell our bitcoins but in the right time, not never.
doens't mean you really will never ever sell , but it is exaggerate words ,
mean you have to hold as long as possible feel like you will never sell it ,
at some point of course you have to sell it but not now in the near future.
But even the possibility of really never sell his coins is a respectable decision, because I have met some bitcoiners that are seriously thinking about the possibility of storing bitcoins to inherit them to their children, and it talks about their faith, confidence and commitment with the future of bitcoin.
And yet the never sell Bitcoin ever will then fail, since after giving it to their grand children, this kids will convert it to cash for sure. The intention of the advise is good but somehow not selling Bitcoin ever is just a dumb idea. I will alway sell my BTC whenever I see a profit and buy them again if it goes down. Or cut loses if Bitcoin price crumble back to cens, than not selling it and left with worthles coin if worst thing happen.
If one day I will not sell my bitcoins, why I am investing my money in bitcoin now? I mean it is pointless to have something if you will not use it one day in the future. For example, I have 1 bitcoin now but I don't use it. What is the meaning of to have it? Just wasting time, energy and also money.
Yes you have the point that's why the title itself is misleading. And if doing 'never' sell is just a crazy thing to invest for. Of course that's why we are investing in bitcoins because we know that it is going to give us good profit upon selling them when it reaches higher price. And that's the main reason why we must sell our bitcoins but in the right time, not never.
doens't mean you really will never ever sell , but it is exaggerate words ,
mean you have to hold as long as possible feel like you will never sell it ,
at some point of course you have to sell it but not now in the near future.
But even the possibility of really never sell his coins is a respectable decision, because I have met some bitcoiners that are seriously thinking about the possibility of storing bitcoins to inherit them to their children, and it talks about their faith, confidence and commitment with the future of bitcoin.
If one day I will not sell my bitcoins, why I am investing my money in bitcoin now? I mean it is pointless to have something if you will not use it one day in the future. For example, I have 1 bitcoin now but I don't use it. What is the meaning of to have it? Just wasting time, energy and also money.
Yes you have the point that's why the title itself is misleading. And if doing 'never' sell is just a crazy thing to invest for. Of course that's why we are investing in bitcoins because we know that it is going to give us good profit upon selling them when it reaches higher price. And that's the main reason why we must sell our bitcoins but in the right time, not never.
doens't mean you really will never ever sell , but it is exaggerate words ,
mean you have to hold as long as possible feel like you will never sell it ,
at some point of course you have to sell it but not now in the near future.
If one day I will not sell my bitcoins, why I am investing my money in bitcoin now? I mean it is pointless to have something if you will not use it one day in the future. For example, I have 1 bitcoin now but I don't use it. What is the meaning of to have it? Just wasting time, energy and also money.
Yes you have the point that's why the title itself is misleading. And if doing 'never' sell is just a crazy thing to invest for. Of course that's why we are investing in bitcoins because we know that it is going to give us good profit upon selling them when it reaches higher price. And that's the main reason why we must sell our bitcoins but in the right time, not never.
I agree 100%. We all earn bitcoins for our self to buy stuffs and help our family so just what you said what is the point of saving if your not going to spend it. I invest and earn bitcoins for my future and that means that I am going to spend it in the future in the right time and even now If I need it. So I am totally agree with you mate. Earn bitcoins to spend it.
--snip--
For me its not a good idea to stay hold your bitcoin for a long time and i think bitcoin will never be fiat it will be still as alternative payment online. since bitcoin is just like the same as other payment method paypal or vcc online is actually the same as bitcoin but the different bitcoin is not instant and anytime the payment can be reverse.. that is why they are waiting for 3 confirmation thant vcc its really instant..
For me if i have bitcoin if the price is increasing i will sell few bitcoin and the rest i sell it if the price continues to increased..
It seems clear to me that you have confused so many things in your mind. All of these payment systems are so different each other starting that paypal; and what is vcc? maybe visa? have so many different concept, are centralized ones instead of decentralized bitcoin and so on. As far as it concerns about instant payment with visa do you really believe any time you pay with visa money leave your account instantly and go to merchant's account? No, for credit cards take up to 3 working days and till then are pending transactions. Moreover about bitcoin network confirmations take a look here https://en.bitcoin.it/wiki/Confirmation
If one day I will not sell my bitcoins, why I am investing my money in bitcoin now? I mean it is pointless to have something if you will not use it one day in the future. For example, I have 1 bitcoin now but I don't use it. What is the meaning of to have it? Just wasting time, energy and also money.
Yes you have the point that's why the title itself is misleading. And if doing 'never' sell is just a crazy thing to invest for. Of course that's why we are investing in bitcoins because we know that it is going to give us good profit upon selling them when it reaches higher price. And that's the main reason why we must sell our bitcoins but in the right time, not never.
Never selling bitcoins doesn't make any sense as you are investing your money into it to make profits and if you don't sell them when price goes higher then your purchase then what's the use of investing money in bitcoins? So if its giving me good profits then I will not hesitate in selling part of them to grab the profits and rest will hold for the future.
I agree with you, but it seems he was referring to a particular timeline (maybe currently) because it makes no sense if you deprive yourself of your own investments ever. I think you can hold it and be smart about it-sell and buy when necessary or investment for your kids in future so clearly there's a need for a timeline.
OP does not butt in here to clear himself but it is clearly stated to not sell Bitcoin ever. So Definitely the logic of what he typed is broken. So whatever our opinion about this matter is out because it is what he right that we are referring to. On the other note, I agree with you the we should not deprive ourself of our own investment, so my thinking is to not ever listen to the OP ever.
Never selling bitcoins doesn't make any sense as you are investing your money into it to make profits and if you don't sell them when price goes higher then your purchase then what's the use of investing money in bitcoins? So if its giving me good profits then I will not hesitate in selling part of them to grab the profits and rest will hold for the future.
I agree with you, but it seems he was referring to a particular timeline (maybe currently) because it makes no sense if you deprive yourself of your own investments ever. I think you can hold it and be smart about it-sell and buy when necessary or investment for your kids in future so clearly there's a need for a timeline.
OP does not butt in here to clear himself but it is clearly stated to not sell Bitcoin ever. So Definitely the logic of what he typed is broken. So whatever our opinion about this matter is out because it is what he right that we are referring to. On the other note, I agree with you the we should not deprive ourself of our own investment, so my thinking is to not ever listen to the OP ever.
Never selling bitcoins doesn't make any sense as you are investing your money into it to make profits and if you don't sell them when price goes higher then your purchase then what's the use of investing money in bitcoins? So if its giving me good profits then I will not hesitate in selling part of them to grab the profits and rest will hold for the future.
yes no one will like not to sell their bitcoins for ever. i think one can do that if he feel that the price of bitcoin is now trading in a high price and he can also sell it if need to fiat then he will convert bitcoin into fiat. 
When I see bitcoin price per peace 1 bitcoin=at least 5000$ I will sell but if I see that bitcoin price stopped to grow before then I will wait maximum of price which bitcoin can get and sell him for that price to get some profit and invest in some other cryptocurrency like in Qtum cryptocurrency because it looks like a really good cryptocurrency which have a perfect future.I am hoping that other cryptocurrencies will grow like bitcoin later and bitcoin price will go down because I am sure that many countries will bann bitcoin from their citizents hands so only way to get bitcoin will be black market.Like example 2 countries in Europe I dont know exactly which countries banned bitcoin and they are making own cryptocurrency.I think that other countries will follow them and then that will be in all over the world and after that we will have nathional cryptocurrencies or regional cryptocurrencies.
How many bitcoins a person needs to become a millionaire. It is difficult to answer this question. Bitcoin it is very volatile and if you invest today, you can as make as lose money.
Another question is when you want to become a millionaire: it will take two years? 10 years? 35 years? Whether the dollar price? That you can buy for a million dollars in the next 50 years?
We could, of course, based on the hypothesis that everything will go how it goes, and in the next couple of decades will continue small inflation. Then you, ultimately, will become fabulously rich. But, unfortunately, such guarantees can not come true.
Another question is when you want to become a millionaire: it will take two years? 10 years? 35 years? Whether the dollar price? That you can buy for a million dollars in the next 50 years?
We could, of course, based on the hypothesis that everything will go how it goes, and in the next couple of decades will continue small inflation. Then you, ultimately, will become fabulously rich. But, unfortunately, such guarantees can not come true.
Never selling bitcoins doesn't make any sense as you are investing your money into it to make profits and if you don't sell them when price goes higher then your purchase then what's the use of investing money in bitcoins? So if its giving me good profits then I will not hesitate in selling part of them to grab the profits and rest will hold for the future.
yes no one will like not to sell their bitcoins for ever. i think one can do that if he feel that the price of bitcoin is now trading in a high price and he can also sell it if need to fiat then he will convert bitcoin into fiat. Bitcoin can possibly the future fiat although it will not totally eliminate fiat still it is a great thing if you still have bitcoin on hand after 10 years or more. Just imagine how bitcoin's price we have right now? What more after 10 years, it could possibly times 10 of the current price now or more.
For me its not a good idea to stay hold your bitcoin for a long time and i think bitcoin will never be fiat it will be still as alternative payment online. since bitcoin is just like the same as other payment method paypal or vcc online is actually the same as bitcoin but the different bitcoin is not instant and anytime the payment can be reverse.. that is why they are waiting for 3 confirmation thant vcc its really instant.. For me if i have bitcoin if the price is increasing i will sell few bitcoin and the rest i sell it if the price continues to increased..
Bitcoin transactions post instantly, just to clear that out. It's the confirmation times that makes you wait. Or you simply didn't include an appropriate enough fee which makes pools ignore your transaction for a while. When it comes to the reverse aspect, you as normal person don't have to worry about that unless you deal with millions every time like is the case with exchanges for example. That's why they require 3 confirmations before your deposit posts. It's set like that because exchanges have a lot to lose. In general 1 confirmation is safe enough.
I don't believe they "post" instantly either. Don't they still need a node to broadcast them out? I'm a bit hazy on how this part works exactly, but when there was all that congestion in the bitcoin network last year due to the refusal to increase the block size, there were always tens of thousands of transactions sitting in a pool waiting to be broadcast, but I think the nodes were only broadcasting the transactions that paid the highest fees. So it's not that the rest were waiting to be "confirmed." They hand't even been "posted" yet by a node to start the confirmation process. At least I think that was the issue, if anyone can provide any clarification on this, I'd appreciate it.
If you put it that way, then in some cases it's not instant as there are nodes not willing to broadcast certain transactions, but that's mostly only the case when transactions have almost zero chances of getting confirmed. I once sent several low value transactions without any fees (for testing purposes), and then I checked everything through various block explorers. Funny thing was that one explorer, blockr.io, actually showed everything like it was doing usually, while other explorers didn't recognize the tx id like it didn't exist. In this case they simply ignored these no fee transactions. After that I double spent these transactions with fee where they got noticed instantly by all explorers.
If one day I will not sell my bitcoins, why I am investing my money in bitcoin now? I mean it is pointless to have something if you will not use it one day in the future. For example, I have 1 bitcoin now but I don't use it. What is the meaning of to have it? Just wasting time, energy and also money.
That's right, something even if it's precious but you can't control or never ever want to control ( sell it, or something ) will be as the same as useless and it's pointless to have these sort of things, never sell bitcoin or use it is definitely stupid action as the primary function of bitcoin is as a currency and normally being spent If one day I will not sell my bitcoins, why I am investing my money in bitcoin now? I mean it is pointless to have something if you will not use it one day in the future. For example, I have 1 bitcoin now but I don't use it. What is the meaning of to have it? Just wasting time, energy and also money.
I think one of the reasons why you hold your bitcoin and sell it of course because you have to choose the right price or higher so you get a profit on the investment bitcoin, it is the main reason If one day I will not sell my bitcoins, why I am investing my money in bitcoin now? I mean it is pointless to have something if you will not use it one day in the future. For example, I have 1 bitcoin now but I don't use it. What is the meaning of to have it? Just wasting time, energy and also money.
Point that OP is making, is that you CAN use it to purchase stuff from stores with your Bitcoins, but that he doesn't see any reason to sell coins for dollars. It's his personal opinion of course, which you, but also I don't fully agree with. I can understand his way of thinking, but it's a fact that the majority of the people here simply don't look at Bitcoin from that perspective. For a lot people Bitcoin is nothing more than an investment opportunity, where eventually everything gets converted back to fiat. Why do they mostly always convert their coins to fiat? Because they don't trust Bitcoin to keep their money sitting in there for too long due to the volatility.
Jump to: