Topic: Why You Should Never Sell Your Bitcoins Ever - page 7. (Read 270138 times)

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 price of Bitcoin are recovering after dropped to $6,000. I predict the price of Bitcoin will recover to $12,000 and need to test many times + resistance price before decide to continue its bearish trend or bounce and changes the trending to open new cycle.

The reason why people not to sell their bitcoins because the prices is on dumps. The best way in order to gain huge money is to keep holding and wait the best time to sell your bitcoins. If the time will come ,and the prices is pumps well thats the good way to sell those bitcoins.

You're right, there will be a time that we will need money and the last choice we have is to sell our coins. I guess that in inevitable. But selling just because the price is going down isn't reasonable, because you know that what you're holding has far more potential and if you're going to sell it you'll lose profit. But as long as there is a reasonable reason why you're selling your coin it will always be your choice.

I won't say never, but holding instead of panic selling is advised. I remember i did some panic selling in the past.
But after the last dip i know it's better to buy more instead of selling.

I think it was too risky. First of all we have no assurance that bitcoin will be there til future. Besides, there are still many users that tend to hold it for a long time. However, the decision will always from them. Base on what I have read here, it is better to sell some of it when its price dumps to gain bigger profit.

There are many people who has just sold Bitcoin and it suddenly come back again. It makes people feel regret and lost money. If they continued saving Bitcoin and not selling their Bitcoin, they wouldn't lose money. Bitcoin is a long term investment, that's why you have to be patient, don't be afraid and be wise.

some people make short-term investments at the moment, hear you make long-term investments I have some questions, do you have a sales target?

yes I will not sell my bitcoin anymore, simply sell it because I now focus on bitcoin as much as possible and I use for bitcoin investment. a lot of people who are looking for bitcoin to get a little sweet coffee to feel it. how much do you drink sweet coffee?