Topic: Why You Should Never Sell Your Bitcoins Ever - page 96. (Read 270173 times)

Then it is better to buy now? Any insights if this price right now is the levelled price for this week? I think it is still a risk to buy now because price keeps going down.

Well, definitely shouldn't sell your bitcoins right now after a market adjustment. I think that this is just a bear trap and if you sell now, it will be a huge mistake and you will regret in the future.

Holding is the best investment you can make.

Well, definitely shouldn't sell your bitcoins right now after a market adjustment. I think that this is just a bear trap and if you sell now, it will be a huge mistake and you will regret in the future.

Holding is the best investment you can make.

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?

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?

Exactly, holding too long can be risky as we are not sure about the price in future, but if it allowing you to make profits at certain point then you should sell your coins and grab the profits.

I want to say this to the OP,if you agree that if bitcoin reaches $10,000 and it's a big "if" then you expect many online stores like amazon would be accepting bitcoins and you would just buy things with bitcoins instead of selling for fiat,my question to you is what will be the issue if you just sell it at 10k? Fiat may give you more options then bitcoin in future too as we can never make everyone use bitcoin especially the uneducated people..right?

I still keep the bitcoin I bought in the middle of last year. I will only sell when there is a big bubble, like the one in 2013.

I think why should people never sell bitcoins is it is a long term investment program.It makes huge profits for holding it long time and exchanging it to fiat.Like in 2009 in jist $1 you can buy 100 bitcoins or highet now $1 jist cost 0.002 btc.See the difference so you must hold it because its price is developing and rising

Exactly, holding too long can be risky as we are not sure about the price in future, but if it allowing you to make profits at certain point then you should sell your coins and grab the profits.