Topic: Why You Should Never Sell Your Bitcoins Ever - page 54. (Read 270173 times)
Last year i had been forced to sell my bitcoins to cover some bills, besides those emergency situation i dont expect to keep spending my bitcoins this year, in fact my goal is to save bitcoins along the year from all of mine investements, this is the year to start saving and stop investing.
Bitcoins are a great store of value but that doesn't mean that you should never sell, look what happened to the people that used to say "house prices will never go down" they lost the lot.
Just use bitcoins as an everyday currency, buy a few things online, a debit card for in store purchases and save the rest just as you would with normal fiat cash. This really only works best if you are currently receiving your pay check in bitcoins to start with but if not there are a few good companies that will handle the trade for you each week/fortnight.
Just use bitcoins as an everyday currency, buy a few things online, a debit card for in store purchases and save the rest just as you would with normal fiat cash. This really only works best if you are currently receiving your pay check in bitcoins to start with but if not there are a few good companies that will handle the trade for you each week/fortnight.
I have never sold any bitcoin to get fiat. I just use it to buy things.
The problem is, in some country there are only few stores that accept bitcoin directly. So the next option will be exchanging bitcoin to fiat to spend it for regular needs. One example is here, in my country there is a service that let us pay for our bills, load credit to our mobile phones, they accept bitcoin but the rate is less than 3.5% of the actual buy price of bitcoin so we have no choice but to accept it to let us use our Bitcoin to our daily needs.
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?
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?
Definitely agree, why sell all of your bitcoin if the end of the day/week/month you will buy it at higher price?
I will sell mine if I don't have any option left to get fiat money, but as long as I could cover my expenses without sell any, why not to keep it save in my wallet.
We're waiting for more merchants and online platform to accept bitcoin payment, so we can spending directly without convert it into fiat. If in your city there is no any shops accepted bitcoin, then you should start the first one and people will ask then recognize bitcoin.
Bitcoins are a great store of value but that doesn't mean that you should never sell, look what happened to the people that used to say "house prices will never go down" they lost the lot.
Just use bitcoins as an everyday currency, buy a few things online, a debit card for in store purchases and save the rest just as you would with normal fiat cash. This really only works best if you are currently receiving your pay check in bitcoins to start with but if not there are a few good companies that will handle the trade for you each week/fortnight.
Just use bitcoins as an everyday currency, buy a few things online, a debit card for in store purchases and save the rest just as you would with normal fiat cash. This really only works best if you are currently receiving your pay check in bitcoins to start with but if not there are a few good companies that will handle the trade for you each week/fortnight.
I agree. Although I'm trying to sell as little as possible I just can't keep it totally untouched. In times like these I think to myself: "What a loser! You could have bought 3 times more things now with those BTC you spent in 2015!" But then again, what could I do if I was in need of fiat and that's why I sold some BTC? I'd paraphrase the OP this way: "You Should Never Sell ALL Your Bitcoins Ever". That sounds more realistic to me.
Bitcoins are a great store of value but that doesn't mean that you should never sell, look what happened to the people that used to say "house prices will never go down" they lost the lot.
Just use bitcoins as an everyday currency, buy a few things online, a debit card for in store purchases and save the rest just as you would with normal fiat cash. This really only works best if you are currently receiving your pay check in bitcoins to start with but if not there are a few good companies that will handle the trade for you each week/fortnight.
Just use bitcoins as an everyday currency, buy a few things online, a debit card for in store purchases and save the rest just as you would with normal fiat cash. This really only works best if you are currently receiving your pay check in bitcoins to start with but if not there are a few good companies that will handle the trade for you each week/fortnight.
I have never sold any bitcoin to get fiat. I just use it to buy things.
Bitcoins are a great store of value but that doesn't mean that you should never sell, look what happened to the people that used to say "house prices will never go down" they lost the lot.
Just use bitcoins as an everyday currency, buy a few things online, a debit card for in store purchases and save the rest just as you would with normal fiat cash. This really only works best if you are currently receiving your pay check in bitcoins to start with but if not there are a few good companies that will handle the trade for you each week/fortnight.
Just use bitcoins as an everyday currency, buy a few things online, a debit card for in store purchases and save the rest just as you would with normal fiat cash. This really only works best if you are currently receiving your pay check in bitcoins to start with but if not there are a few good companies that will handle the trade for you each week/fortnight.
No i dont think that bitcoin will not be that much useful in india .as bitcoins coming to india s a long way to go and even if it comes ,if people start to adopt it they will be questioning and many people will not understand also no matter the transaction fees be less.
The thing is bitcoin is an international currency and investment as well, it is not only useful in one country as it could be useful to all country who likes to adopt, we do not involve the government here as bitcoin is not regulated and we can use it anytime and anywhere we want as long as we have the internet connection online.When fiat slowly loses it's value, it's always a wise decision to invest into bitcoin, its risky but if you can manage it you will be able to fight inflation.
No i dont think that bitcoin will not be that much useful in india .as bitcoins coming to india s a long way to go and even if it comes ,if people start to adopt it they will be questioning and many people will not understand also no matter the transaction fees be less.
You should never sell any bitcoin because there is a good chance that on a certain point the bitcoin gets a lot bigger in users but also in the price.
So holding them is now the best thing in my eyes, we should just have some patience, because soon or later it gonna happen for sure.
I really think we have to be patient because you can see the prices continue to rise day by day towards the 2017's. I think the price will go to $ 1,000 in a few days. so I think it's better to hold more and be patient, to a greater advantageSo holding them is now the best thing in my eyes, we should just have some patience, because soon or later it gonna happen for sure.
You should never sell any bitcoin because there is a good chance that on a certain point the bitcoin gets a lot bigger in users but also in the price.
So holding them is now the best thing in my eyes, we should just have some patience, because soon or later it gonna happen for sure.
I really think we have to be patient because you can see the prices continue to rise day by day towards the 2017's. I think the price will go to $ 1,000 in a few days. so I think it's better to hold more and be patient, to a greater advantage So holding them is now the best thing in my eyes, we should just have some patience, because soon or later it gonna happen for sure.
You should never sell any bitcoin because there is a good chance that on a certain point the bitcoin gets a lot bigger in users but also in the price.
So holding them is now the best thing in my eyes, we should just have some patience, because soon or later it gonna happen for sure.
So holding them is now the best thing in my eyes, we should just have some patience, because soon or later it gonna happen for sure.
You should not sell bitcoins on this moment, if you wan to sell them so bad you should wait a couple months and see what the halving is gonna do.
If the halving is good you will make a lot of profit if this is not the point you will most likely makr normal profit.
So what I could consider is waiting a couple months.
If the halving is good you will make a lot of profit if this is not the point you will most likely makr normal profit.
So what I could consider is waiting a couple months.
Wait a couple of months to see what the halving will do? I am sure you are mixing up a few things as the block halving has already been completed in Juli this year. Next block halving will take place in 2020... Other than that, right now is a perfect moment to secure profits assuming you bought your coins well below the current price. Waiting for the price to go up more is not a wise thing as the price can't just keep going up endlessly.
You should not sell bitcoins on this moment, if you wan to sell them so bad you should wait a couple months and see what the halving is gonna do.
If the halving is good you will make a lot of profit if this is not the point you will most likely makr normal profit.
So what I could consider is waiting a couple months.
If the halving is good you will make a lot of profit if this is not the point you will most likely makr normal profit.
So what I could consider is waiting a couple months.
Who is gonna do that? "Never" selling bitcoin. That is not a practical way in using bitcoin. Yes, We know that bitcoins are good for long term especially on its price because year after year the price is commonly moving up but we don't need to hold our bitcoin until we death because we can't enjoy its benefits, IMO holding bitcoin at least 5 years is enough for you to enjoy your profits from your investment because i think that would be enough for the price of bitcoin to be double or even triple.
yep and i think many people will hold their bitcoin until they see the good price for them so they can sell their bitcoin and make profit. many people is waiting for another increase of bitcoin price in new year and they really need to be patience to see the new price of bitcoin. beside that, if we have to sell our bitcoin, then don't forget to enjoy your money to buy something you want so you can make another benefit with bitcoin too.
Who is gonna do that? "Never" selling bitcoin. That is not a practical way in using bitcoin. Yes, We know that bitcoins are good for long term especially on its price because year after year the price is commonly moving up but we don't need to hold our bitcoin until we death because we can't enjoy its benefits, IMO holding bitcoin at least 5 years is enough for you to enjoy your profits from your investment because i think that would be enough for the price of bitcoin to be double or even triple.
yep and i think many people will hold their bitcoin until they see the good price for them so they can sell their bitcoin and make profit. many people is waiting for another increase of bitcoin price in new year and they really need to be patience to see the new price of bitcoin. beside that, if we have to sell our bitcoin, then don't forget to enjoy your money to buy something you want so you can make another benefit with bitcoin too.
Who is gonna do that? "Never" selling bitcoin. That is not a practical way in using bitcoin. Yes, We know that bitcoins are good for long term especially on its price because year after year the price is commonly moving up but we don't need to hold our bitcoin until we death because we can't enjoy its benefits, IMO holding bitcoin at least 5 years is enough for you to enjoy your profits from your investment because i think that would be enough for the price of bitcoin to be double or even triple.
yep and i think many people will hold their bitcoin until they see the good price for them so they can sell their bitcoin and make profit. many people is waiting for another increase of bitcoin price in new year and they really need to be patience to see the new price of bitcoin. beside that, if we have to sell our bitcoin, then don't forget to enjoy your money to buy something you want so you can make another benefit with bitcoin too.
It's because many people see bitcoins more of an investment rather than future currency. Much as I'd want it to be the currency for all transactions, I have more immediate concerns and if I think I'll gain something from converting, I will.
Even if btc prices just keep going up, converting to fiat would still make sense in countries where a dollar can still buy a lot. Of course it makes more sense to still keep some btc. Only sell a lot of btc for fiat if you would also be able to make money out of it (ex. buying land or business, etc.)
Even if btc prices just keep going up, converting to fiat would still make sense in countries where a dollar can still buy a lot. Of course it makes more sense to still keep some btc. Only sell a lot of btc for fiat if you would also be able to make money out of it (ex. buying land or business, etc.)
Who is gonna do that? "Never" selling bitcoin. That is not a practical way in using bitcoin. Yes, We know that bitcoins are good for long term especially on its price because year after year the price is commonly moving up but we don't need to hold our bitcoin until we death because we can't enjoy its benefits, IMO holding bitcoin at least 5 years is enough for you to enjoy your profits from your investment because i think that would be enough for the price of bitcoin to be double or even triple.
You should sell your bitcoin if you want I think since the selling is also important in a free market. Bitcoin runs a free market and what if everyone holds all of their coins? would there be one who will sell all of those who want to buy some bitcoins? If all will hold bitcoin will not be distributed. Because of it, holding bitcoin is against bitcoin since no one will supply those who wants to buy some.
Yes, it is depending on the number of bitcoin users, as we can see that in such places where the bitcoin users are in majority they have the opportunity to use bitcoin in their local markets as the shop keepers of these areas also know the importance of bitcoin and they accept bitcoin from the customers for shopping. 
Unfortunately lots of bitcoiners are not especially interested in the great advantages of this revolutionary altcoin and they have decided to join this ecosystem only with speculative purposes. So it is just natural to frequently read all those opinions of people willing to sell their coins, but perhaps that is not so bad to have an active and dynamic bitcoin market.
Not everyone owns a same kind of thinking and nor everyone's plans are same, maybe if what i'm thinking that is not near your mind, so we cannot really expect everyone in bitcoin community to hold their coins in order to earn profits out of it, maybe they don't see it the way we do.
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