Why You Should Never Sell Your Bitcoins Ever - page 52.

sportis

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Quote from: ophyrim on January 21, 2017, 05:38:22 PM

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.

You probably won't agree but bitcoin is an electronic payment system that is currency. So, anyone would use it to buy goods and services like as fiat money. Under this rationale it's not pointless to have bitcoins because you can use it for your life needs and not only as a commodity.

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Quote from: czvezda on January 21, 2017, 05:07:55 PM

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.

ophyrim

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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.

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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.

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Quote from: richardsNY on January 21, 2017, 12:51:45 PM

Quote from: Bitcoinsummoner on January 21, 2017, 12:39:45 PM

Quote from: Edraket31 on January 21, 2017, 10:40:01 AM

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.

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Quote from: Bitcoinsummoner on January 21, 2017, 12:39:45 PM

Quote from: Edraket31 on January 21, 2017, 10:40:01 AM

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.

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Quote from: Edraket31 on January 21, 2017, 10:40:01 AM

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..

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People always greed so they can't resist to sell some bits for it so as we know that a human nature
I'm also regret because I sold bits when bitcoin still $800 / btc although the value increased up to $ 1000 /btc

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Quote from: Zadicar on January 21, 2017, 10:39:27 AM

Quote from: bravehearth0319 on January 21, 2017, 09:50:47 AM

I beg to disagree, as far as I know we can hold the coins or Bitcoin for along time but not selling it ever, that is ridiculous. The essence of waiting will become useless.

This is true,its really easy to say that we should hold our bitcoin for long time without spending a single Satoshi on it. I would say it's really hard specially when you need money in times you saw an opportunity to make profits you will definitely spend your bitcoin.

Indeed and what's the point in holding on to your btc's if you're not going to sell it at the right time? I think it's all about timing. Holding on to your bitcoins would most likely allow you to observe the ups and downs of the price and if you're observant enough you may even be able to predict ina way a trend and then know the best time to sell btc's. But the bottom line is that you can't really hold on to it forever. Either you hold on to it long enough and sell it ar the correct time or regret it when you need to sell it and the price is eay down

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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.

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Quote from: bravehearth0319 on January 21, 2017, 09:50:47 AM

I beg to disagree, as far as I know we can hold the coins or Bitcoin for along time but not selling it ever, that is ridiculous. The essence of waiting will become useless.

This is true,its really easy to say that we should hold our bitcoin for long time without spending a single Satoshi on it. I would say it's really hard specially when you need money in times you saw an opportunity to make profits you will definitely spend your bitcoin.

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Quote from: crairezx20 on January 21, 2017, 10:05:57 AM

Quote from: bravehearth0319 on January 21, 2017, 09:50:47 AM

I beg to disagree, as far as I know we can hold the coins or Bitcoin for along time but not selling it ever, that is ridiculous. The essence of waiting will become useless.

You have the point and this is opportunity that we can make a good profit everytime the price is increasing since the price of bitcoin is unpredictable and we do not know when bitcoin will down or up again.. so to be safe you can sell partial of your bitcoin holdings.. from 15% to 25% depends how much you are holding just to safe your profit and not losing your opportunity..

I also do agree on your point.If we can't spend Bitcoin then what is the worth of it.I consider holding is a easy way of earning Bitcoin.I bought about 10 BTC when it's price was near 350$ and sold it at 1000$.So I got much profit from holding.So if I don't ever sell it then why I will hold it.

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Quote from: crairezx20 on January 21, 2017, 10:05:57 AM

Quote from: bravehearth0319 on January 21, 2017, 09:50:47 AM

I beg to disagree, as far as I know we can hold the coins or Bitcoin for along time but not selling it ever, that is ridiculous. The essence of waiting will become useless.

You have the point and this is opportunity that we can make a good profit everytime the price is increasing since the price of bitcoin is unpredictable and we do not know when bitcoin will down or up again.. so to be safe you can sell partial of your bitcoin holdings.. from 15% to 25% depends how much you are holding just to safe your profit and not losing your opportunity..

I think that the main purpose of not selling bitcoin is to limit the supply of available coins.
That is good for everybody who owns bitcoins. Of course, not selling it ever makes no sense.
And then you have to think about about the fact that bitcoin is a payment system as well that has to be used.
Otherwise companies might turn their back on bitcoin.
I would say use it as often as you can, but have some savings as well.

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Quote from: bravehearth0319 on January 21, 2017, 09:50:47 AM

I beg to disagree, as far as I know we can hold the coins or Bitcoin for along time but not selling it ever, that is ridiculous. The essence of waiting will become useless.

You have the point and this is opportunity that we can make a good profit everytime the price is increasing since the price of bitcoin is unpredictable and we do not know when bitcoin will down or up again.. so to be safe you can sell partial of your bitcoin holdings.. from 15% to 25% depends how much you are holding just to safe your profit and not losing your opportunity..

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I beg to disagree, as far as I know we can hold the coins or Bitcoin for along time but not selling it ever, that is ridiculous. The essence of waiting will become useless.

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Quote from: Kasabus on January 15, 2017, 03:13:17 AM

Quote from: millgates on January 12, 2017, 05:20:55 AM

Quote from: mrbigmugs on January 04, 2017, 05:46:11 PM

Quote from: rajasumi3 on January 02, 2017, 09:34:20 PM

U should sell ur bitcoins no matter what and u should do it once in a month .as u know the bitcoins have risk and it may br banned by ur country ,thrn what can u do? Thats y it is better to sell ur bitcoins now and then .

i think you should set a limit for yourself and when you reach to that limit then you should convert these bitgoins into your fia currency.

sell bitcoin only when the price is rise, circulation of bitcoin is needed to make the price more stable. Although the best thing is use bitcoin to buy goods. So the bitcoin price will keep rise against fiat.

Definitely right,better you just have to kept it continue to earned and eventually save it,when the price is high then it's time for you to enjoy the exchange of it to fiat.I was grateful that i spend my bitcoins to some important things that i needed and it was really a big help for me.

I also agree with the fact that Bitcoin is advantageous to simply hold. This is a good long term investment. But if you need something to buy, and you can spend Bitcoins. The main thing is not to panic and not to sell it as soon as the price fell slightly. A little ... $ 300)))

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Quote from: millgates on January 12, 2017, 05:20:55 AM

Quote from: mrbigmugs on January 04, 2017, 05:46:11 PM

Quote from: rajasumi3 on January 02, 2017, 09:34:20 PM

U should sell ur bitcoins no matter what and u should do it once in a month .as u know the bitcoins have risk and it may br banned by ur country ,thrn what can u do? Thats y it is better to sell ur bitcoins now and then .

i think you should set a limit for yourself and when you reach to that limit then you should convert these bitgoins into your fia currency.

sell bitcoin only when the price is rise, circulation of bitcoin is needed to make the price more stable. Although the best thing is use bitcoin to buy goods. So the bitcoin price will keep rise against fiat.

Definitely right,better you just have to kept it continue to earned and eventually save it,when the price is high then it's time for you to enjoy the exchange of it to fiat.I was grateful that i spend my bitcoins to some important things that i needed and it was really a big help for me.

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Quote from: mrbigmugs on January 04, 2017, 05:46:11 PM

Quote from: rajasumi3 on January 02, 2017, 09:34:20 PM

U should sell ur bitcoins no matter what and u should do it once in a month .as u know the bitcoins have risk and it may br banned by ur country ,thrn what can u do? Thats y it is better to sell ur bitcoins now and then .

i think you should set a limit for yourself and when you reach to that limit then you should convert these bitgoins into your fia currency.

sell bitcoin only when the price is rise, circulation of bitcoin is needed to make the price more stable. Although the best thing is use bitcoin to buy goods. So the bitcoin price will keep rise against fiat.

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Quote from: mrbigmugs on January 04, 2017, 05:46:11 PM

Quote from: rajasumi3 on January 02, 2017, 09:34:20 PM

U should sell ur bitcoins no matter what and u should do it once in a month .as u know the bitcoins have risk and it may br banned by ur country ,thrn what can u do? Thats y it is better to sell ur bitcoins now and then .

i think you should set a limit for yourself and when you reach to that limit then you should convert these bitgoins into your fia currency.

That's important, when you are investing you must have a concrete plan where it's written and you must follow it diligently. Do not be too greedy to wait for bigger price, learn to be contented to sell even with small profit.

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Quote from: rajasumi3 on January 02, 2017, 09:34:20 PM

U should sell ur bitcoins no matter what and u should do it once in a month .as u know the bitcoins have risk and it may br banned by ur country ,thrn what can u do? Thats y it is better to sell ur bitcoins now and then .

i think you should set a limit for yourself and when you reach to that limit then you should convert these bitgoins into your fia currency.

Topic: Why You Should Never Sell Your Bitcoins Ever - page 52. (Read 270173 times)