Bitcoin Forum

Nowadays, many people are scared by the last correction on cryptocurrency market. I understand them but in my opinion there are still a lot of reasons to hold Bitcoin, and I'd like to share with you top 10 of them.

1. Adoption of Bitcoin continues to grow. There are more and more companies that want to accept Bitcoin and work with it.
2. You don't lose money unless you sell.
3. Institutional investors start to invest heavily in cryptocurrencies. (Goldman Sachs-backed mobile Bank Circle acquired Poloniex. Mastercard, New York Life Insurance Company, and CIBC have invested in the Digital Currency Group.
4. It’s still only a small percentage of wise investors pouring money into it (perhaps 10 to 30% of the U.S. population).
5. US legislators are drifting toward a positive stance on the regulation of cryptocurrencies.
6. Selling Bitcoin in it's low is what whales want from you to earn money for them.
7. Currently, there are too many dumpers like Mt Gox and too many FUD news but crypto market always recovers after some dump.
8. US or China aren't interested in banning cryptocurrencies because if they do this, other countries will adopt it and win. Most likely, those governments also want to buy Bitcoin but for lower price.
9. Crypto market gains upright scale graph starting from the third quarter few last years.
10. Bitcoin millionaires became millionaires because they holded it for years, not months.

What are your reasons to hold Bitcoin?

Transactions are fast and fees are low. In particular, the transaction fees for largish international (and national) transactions are low and the transfer time is typically about one to two hours. This compares to the multi-day settlement time for international transactions.

I made this post for those who have concerns about holding or selling. Even you have some reasons why you believe in Bitcoin and hold it.

Bitcoin coin is very convenient and trusted by many people.  The value is always on top and easy to understand.
I couldn't imagine bitcoin will disappear after the success from money people. 

All the reasons that you give us really detailed. I completely thank you a lot because as you know that recently the bitcoin value goes down currently which makes me and many others get panic and don’t know how to do,whether holding or selling. I also used to think about the reason for holding bitcoin and my reason is lied in your line 2. You don't lose money unless you sell. I myself try to be more patient and holding bitcoin without any panic. I hope bitcoin market will get recovered soon.

I have only one reason why I always hold my bitcoins. Bitcoin for me is the future currency. It will not end up easily, unless the government will push it to remove. I always trust bitcoin no matter how good or bad I received to it. Remember, as long as we believe in anything or anyone, we are always hold on!

Yes, I agree with the 10 reasons. It is also important for me to invest in bitcoin without worrying when the market goes down. I had a steel mentality and I always rely on the top 10 reasons to continue to hold the bitcoin.
This is really true and we need to apply them. Think optimally, investing in the right time will make you more profitable.

I think this is the key for recent investors. So many people seem to have 'jumped on the bandwagon' in the hope of making a quick profit (not that you can blame them I guess?). I don't believe this was ever the intention of the original creators/investors. Personally I think it was about the freedom of creating and/or being involved in a decentralized currency. It doesn't matter where you are from in the world, there is an increasing tiredness with the control of power, whether it is monetary or information. The recent drop only serves as a reminder of the massive impact it is having throughout the world. A week doesn't go by without Bitcoin hitting the headlines now. It's all about the long game.

I hold and trade bitcoin because it is a big help for me to earn funds to supplement my earnings. There are so many ways to earn money online and earning bitcoin would be one of them. I am also amazed by the technology because it is a big help for the businesses. There are still so many people who knows about cryptocurrency but didn't get involved with it so it is advantage for us who are already holding some coins because once it is mass adopted then it would have a greater value. If you are afraid though of the manipulation in the market then you would not last in cryptocurrency world because it is already a given since it is not regulated. What we small fishes can do in the sea dominated by whales is to at least have an idea of how they would swim so that we can follow suit.

I do not get this statement people use. How is this a perk? One can state if you buy any tangible item and dont use it, and dont sell it, you will not lose its valuation. I understand it cannot be applied to everything, but it seems to be a loosely-chained perk.

Example:

I can buy a car for 20k USD. I wont use it regularly, just keep maintaining it. I wont lose any money because I wont sell. If I do sell, I can just wait 40 years, and my car valuation (as long as I didnt use it too often, and kept it maintained) may increase tremendously.


Another point to make is that there is no guarantee the price of bitcoin will go up when you buy it. It could easily go down.
Thus, why state that you wont lose money unless you sell?

What happens if bitcoin becomes a dud as a currency, just like DTC? And the USD valuation becomes 100USD (not saying that it will), Does it mean that even if you bought your bitcoin at 20k and did not sell it until now, you still havent lost any money because you havent sold at its market price 100USD??


I do not want to sound rude, I just have a hard time getting the point of this statement. It does not seem as a great reason to buy anything. I feel like it would deter possible consumers more than anything.

Am I understanding this statement alright, or am I missing a point?


Please tell me if I am missing something,

TVL

the reason I hold bitcoin.
because bitcoin will continue to increase consistently in the middle of this year, if major markets such as Japan and the United States can sustain growth in each of the regional exchanges and if relatively small markets like India are also undergoing major changes. so I will hold the bitcoin until the price goes up.

my main reasons to hold bitcoin is i believe in the system and in the future of bitcoin. like the rise of the internet, bitcoin will rise and that's why i try to accumulate bitcoins. when bitcoins succeed, i hope i have one bitcoin and with it i have good money when im older and i have a good living in the last years of my life.  8) 8) 8)

Reason why I still hold my bitcoin is that I believe it will still increase and I believe for its future success.
I also trade some for urgent needs..
I wanted to save more than 1 btc to be used with my daily living

Simple reason: digital currencies will be the new internet and the new email. It's the progress. Otherwise we'd still have only newspapers and letters.

I want to get the maximum profit as listed in the No. 10. I strongly believe, bitcoin can adjust itself at a higher price in the future later.

Reason 1-10: Value is going to skyrocket on the back of the end of year bull run!

This one liner is best guide how to not loose money on Bitcoin and go through all crashes, all problems, all doubts and other things that otherwise would make you sell.
Be smart, Bitcoin in long run is best investment in history of mankind. Not peoplekind, mankind.

Bitcoin is the future of money. It's not going anywhere it's here to stay.

What's happening in the market should not be a surprise to anyone.

reason for many people - get rich  ;D :P

Here is what I think about this:

1) Yes you are right about this. There was a Japanese company in news recently for sending salary to employees in bitcoins. The company itself is also involved with some crypto related projects.

2) Anyone holding for more than an year will never be in loss. This has never happened in the past.

3) If big investors re investing , it is a boon for crypto. Best thing about these investors is that they got deep pockets to spend huge money and they will never sell due to panic situations. It will result in making prices less volatile.

Yes, you got the point right. Let's say you bought 1 BTC at $20k. It dropped to $10k. But if you don't sell, you still have your 1 BTC which means you didn't lose money. This works if you really believe in the potential of the currency you bought and that it will sky rocket someday.

May be, but the number is not visible yet so we cant say anything about this so surely. Companies are trying to adopt it but government is strong wall between them.


Thats kind of true because at any point whatever value bitcoin carries is nothing but more valuable as long as it is earned and not invested one. If there is investment which is above my entry point then as long as im not selling it, it is my grown money.


The same thing as option of the bitcoin on large scale whether it is industry wise or amongst the republicans. However, the figures are again unsure for the population that usage the bitcoin but im pretty confident that is far low than what we expect. Once the number grows the bitcoin will grow in the market and thus adoption as well.


Its legal thing and these rules and regulations keep changing as the government changes each time. However we can see some changes on the state level as that change would be acceptable.


What to say about the Mt Gox, they are smartest one in playing the market. But now everyone has already understood the formula to grow our bitcoin and it means only one thing, people will buy more at this dump and this will push the bitcoin economy harder and upward.


Or may be there could be case where rest of the world will follow these powerful countries in terms of economic statement that they make. This could become disastrous for rest of the crypto career.


The same formula that we keep talking about and if people dont accept that then they will keep loosing the money and also they will give chances to whales to buy more and become even richer than previous stages. That would mistake of those who fear of the drop.

NUMBER 1 REASON, BITCOIN IS BOOMING BABY

I adhere to the 10th point because it is an effective way if there is money to buy bitcoins unnecessary to store bitcoin and to be further a person who will make a profit

I believe that more and more people will accept Bitcoin in the future which should encourage people to buy and use it often. I hold my bitcoins because I am very excited that Bitcoin will become faster especially when Lightning Network goes live after developers finish it and decide to make it easier to use for average person. I don't think it's difficult right now but it is probably because I have been into Bitcoin for a long time.

I do not think it's hard now but maybe because I have long been in. Bitcoin.

I am holding Bitcoin because I am very happy because Bitcoin will get faster especially when Network Lightning goes after the developers resolve it and decide to make it easier to use the average person.

The main reason I hold Bitcoin is I believe in Bitcoin's system and future.

Bitcoin will continue to increase consistently in the middle of this year, if major markets such as Japan and the United States can support growth in every regional market and if relatively small markets like India are also undergoing major changes. so I will hold Bitcoin until the price goes up.