Topic: Why You Should Never Sell Your Bitcoins Ever - page 93. (Read 270173 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?

Holding bitcoin is a good thing but you don't have to hold that forever. You must set a range of years or length of time of until when you are going to hold that.
Because if you aren't going to use it or sell it, it is useless.

Never is of course not good because on a certain point you have to sell the bitcoin to make profit or simply spend it of course.
If you are waiting too long you will even lose profit and maybe even lose money because of this.

That's my thinking. Bitcoin always fluctuates, rallies much up and rallies much down so why I will hold my coins for long period of time?

If you will look at the historical price of bitcoin starting last year to today, the profit you make if you bought last January last year and will sold it today is really not worth the wait. People are satisfied for $500 to $600 a year earnings??

in the future maybe bitcoin will be better and has a high price, so I would be good if I never sell my bitcoin and wait for the right time to sell

Some users say that you should never sell your coins because you should hold on to them for the future so that you can make much money.
I think that is also good to sell some coins in the mean time because waiting years without doing a thing is not for me.

in the future maybe bitcoin will be better and has a high price, so I would be good if I never sell my bitcoin and wait for the right time to sell

well it does not mean that you have to sell your coins for fiat if you want to use a currency, in my opinion it is much better to just buy something for bitcoins and not transfer it to fiat

i think people shouldnt sell any of their coins and just buy stuff with bitcoins or people might just hold everything they have in order to benefit in the future when holding bitcoin as an investment

Yup and if we never sell our coins then what is the purpose of earning, people will sell their coins when they will see higher price in future and that is the right thing to do.

Well, if we are not selling our bitcoins, how we got our money though ? I mean you also need real money/fiat for your daily things. I think everyone will sell their bitcoins in the end.

I think we should hold onto some of it but I don't have a problem with selling some along the way. I fact, if no one ever uses bitcoin, I don't think there will be any value in it. It has to be useful for something other than holding. Gold for example has a value because it is used for many things from jewelry to electronics.

All of bitcoin users will sell their coins only when see the higher price, but only holding and never selling will never able to give you any profits, so its better to sell when price goes higher.

You should never do this because the bitcoin has a very good future a head with all its risings.
Due to the risings selling is not good at all.

Bitcoin millionaires before reaching their status today as a millionaires didn't hold coins for long time. They are doing such moves when there is a big price increase. They are not allowing themselves to be late when there is a rally.