why so many people store their bitcoin in their wallet for a long time, whether the benefits will they get?
Come share your thoughts
The benefit of storing or holding your Bitcoin for a long time is that, your profit will grow over time. Bitcoin market value increases from time to time, which means if you will store your Bitcoin, its price will increase as well as the profit that you will get in the future. This is the common strategy of Bitcoin investors, this is easier and less risky than trading, but still, the profit is good with this strategy. Not only that bitcoin is crashing at the moment but the longer we hold the more bitcoin needs to crash to affect you, so holding for a long time not only gives you profits it also gives to you the opportunity to be unaffected by the rapid changes of price that bitcoin has. |
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He sent me this pic:  It is really funny but what I find surprising is that you put OMG at fourth place, so to me this seem like a very clever way to let us know that you think OMG is going to be important in the future, because I think the top 3 are coins that many will think are in the right spot, even if I think LTC could be number 2 and ETH should be like in 9 spot or something. |
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We all know how much bitcoin users love dice but I think even poker websites ( bitcoin supporting sites ) also generate same or even more revenue than dice sites . Do you guys play only dice or only poker or both using bitcoins ?
I don't think poker sites can be a competition to dice sites at all those which are accepting bitcoins. People love playing dice games as it has more risk but more chances of getting a lot of profit at the same time. They (including me) enjoy playing dice and using all the strategies to try their luck every now and then, which i don't think people do a lot on poker sites or maybe it is not possible to apply any strategies in poker (i don't know because i never play poker). The people will play both games. But Dice game a newbie can play, to play Poker game we need knowledge about this game. One is fully luck base game, and another one is skill base game. Profit wise if you think means Poker is the best, but many people will not play because it takes time to finish the game and lot of competition to win a big amount. So people like a dice game. Most of them play dice because they do not have much free time. But if you have free time, why not play poker? Moreover, there are tables with large stakes, where you can win a decent amount of money. The reason is that poker is a difficult game, everyone can play dice, you are as good as you are going to be since there is not a chance of winning but in poker you need to study and practice the game and people do not like to make efforts especially in things they consider must be fun and easy. |
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if we only have small money, then we can buy bitcoin with small parts too. this is what I like from bitcoin, we don't have to buy 1 bitcoin in directly, we only need to buy what we need. after we buy bitcoin, then we only need to hold for a while and we need to make sure that the price is up then we can decide to sell our bitcoin to gain the profit. The issue with that approach is that your profits are going to be small too, and I think it is very obvious that we want our profits to be as high as possible so you only have two options to learn how to earn more fiat or to learn how to earn more bitcoin. |
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Till now I haven't heard anyone using Bitcoins for the payment of bribes. Perhaps the bureaucrats and the government officials are not tech savvy enough to accept the bribes in Bitcoin. But rather than Bitcoin, I would suggest anonymous currencies such as BlackBytes, DeepOnion and Monero for this purpose. Because I doubt that Bitcoin is 100% anonymous.
While we have not seen this yet I think that as bitcoin gets more attention and adoption from the public cases like that are going to begin to happen which is going to be really troublesome for the police because even if they identify the guilty person they are not going to be able to get the money back. |
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If I really need money, then I'm looking for additional opportunities to earn in my spare time or sell unnecessary things. I try not to ask my friends for money so that I do not feel uncomfortable about what I should.
There is nothing wrong in asking money from your friends as it will give you money at the right time when you are in actual need of it as finding earning opportunities is always good but you don't know when you will get paid from it and may be you need to wait longer to receive your payments from it. To me, mixing money and friends is never a good idea, something always goes wrong, if you give them money to help them then they may come to rely on you to get them out of trouble and when you decide that enough is enough and you are not willing to give to them more money they get mad. |
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LOL some of the posters are so hypocrite!. Who says money can't buy anything and that's not all you need but in reality we are doing anything to gain money, because money can give us food, buy things that we want, help people from poverty, build a foundation and many more. Yes it;s true that Love is different from Money but without money you cannot sustain your life! Always be with reality people! don;t sugarcoat things, Don't be hypocrite.
You are mostly right but I will disagree with something in your post, people in the forum are willing to make great efforts to make bitcoin but they are not willing to do anything for it, we have limits and people will not do something illegal to get bitcoin. |
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My parent , especially my mom , she always tell me to stop doing bitcoin otherwise i will go to jail or doing bad things to social ! I don't get it ! Old generation seem very lack of experience in Bitcoin ! Why they keep telling us to stop when they even don't know how to check a simple email on ebay ! How to explain them guys ?
My parents before saying that I should stop using and doing different jobs in bitcoin. They said that it is illegal but it is not. I explained to them the bitcoin and I prove to them that I can earn a lot of money in bitcoins. I don't trouble my parents with my ways of earning. I am providing them enough money to enjoy their time the way they want so why bothering the explanation of my job. I consider earning BTC a job without boss. If they ever ask me, I simply say "So far I haven't done anything wrong so chill..". But there are different kind of parents, there are parents that are going to trust you and your judgment, but there are others that are not like that and are going to inquire about your activities online and even if you answer them with the truth they are going to doubt you. |
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To set it a basic way:If your money is in a bank, it is no more time your income, it is the bank's and they might do whatsoever they damn nicely please with it. Financial institutions are previously mentioned the regulation, they reply to actually no one.
This, if you are not the only person controlling your fiat then you are not the owner of that fiat, the moment you decide to put your money in a bank that money belongs to the bank and not to you, it is the same principle that applies in bitcoin, if you do not own your private keys then you do not have bitcoin. |
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In Nov the hard fork is approaching and if occurs then the bitcoin will go down. It will negatively effect the ecosystem radically if it splits
I'm sure you can prove why, or you post fud. I think there is a difference between FUD and legitimate concerns about the future of bitcoin if such a split happens, I will like that the fork was called out by the miners but if they decide to go through there is no doubt that is going to affect bitcoin since most of the hash power is going to move to another chain. |
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Hi,
Do you believe that the price of bitcoin could rise so much to become 1 satoshi = 1 US cent?
Some folks are saying BTC will reach 25$K in 2 years and Half a million in 5.
Those guys do not know what they are talking about, the prediction of 25k in two years is too high already but to think that a bitcoin will be valued at a half a million dollars in just 5 years is ridiculous, that is not a prediction that is just a wish. |
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The market will decide what is needed and what is not when it compes to blockchain apps. Right now lots of altcoins in their ICO's have some big value given as a credit to them, but very few present any real working results, and many of them are far away from 100% realization. Take even ETH for example - do you know any working smart contract apps? The first time they have tried to build something with it, the DAO fiasco happened. But what it is even worse is those private blockchains - they have almost nothing in common with Bitcoin and just trying to steal it's brand.
We are still in the early stages of crypto, many of those coins have value because they have a chance of becoming something in the future but if they fail then its value is going to be zero but if successful those coins could have market caps of billions of dollars. |
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Our economy is really bad. Most are unemployed here so they decide to go abroad so that they can earn more from what will be earned here
I think the economic situation in most countries is like that, many people that get education cannot find a job and they need to move to another countries to work, and for those that do not have education the only jobs awaiting for you pay a very low amount of money if you are lucky to get one. |
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If it goes suddenly cheap I would definitely buying some get more profit but it doesn't seems possible right now according to current market statistics.
This is what I will do as well, I think we are all regretting not buying bitcoin when it was below 1000 dollars but we did not have way to know that bitcoin will go this high this soon, not even in my wildest dreams I though we were going to see a price like the one we are seeing so soon. Yeah and that price is impossible now and we will never see that low price of bitcoins in future as price will continue to grow in future depending on the demand of bitcoins and we are very much sure that demand will keep on going higher and higher in coming years too. If things keep going in the current direction it will not be long before people begin to say the same about buying bitcoin at 4000, and how much they regret not buying a that price, it may seem crazy now since we are close to the all time higher but in a few years I think many people are going to think exactly that. |
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Updated my signature. |
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I think the benefits of bitcoin for a long time as an investment, when bitcoin prices increase and then sell it ..
And very risky to store bitcoin for too long, because we do not know when the price will go down or up.
But i myself believe the bitcoin price for the next 5 years will be higher,i will trade it and keep it for a long time.
Yes you are right. No one knows when the process will go up or down. But if see the graph of past few years, we’ll observe that prices are continuously going up and up. So selling will never be the best option. You should keep what you had and try to get more. Agreed that, HOLD as long you can. Don't sell at the moment, it's going to explode soon. Though, it's true that, It's difficult to predict, but I think it will increase. But, Don't dive into your emotions, talk to the community and getting updated. You will get better results. Yes I agree with you. I once regret the fact that I am too afraid to hold my bitcoins. End result is that I sell my bitcoins due to panick because during that time bitcoin price is going down. I really regret that moment and now as long as I can I will hold my coins and wait for the right time. I think that is a very common mistake, especially among the people that are in the beginning stages of their investment with bitcoin, but after some months you learn to deal with those emotions and even when things do not seem to going all that well you learn to hold despite the circumstances. |
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If I managed to win it means it's my day. Even if the win is still not very large, then I will be happy that I got the victory, and did not lose all the money. And if you're lucky enough to get a jackpot, then this will be a lucky day.
I’m happy as long as I do not lose money, if after a session I still have the same amount of money that I had before I began playing to me that is enough to say it was a very lucky day, since that means that you got to play the games for free. |
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Poker requires a lot of skills and strategies before a player wins. Dice is easy to understand and you can just rely on luck and a little strategy (like the martingale).
a losing strategy if you ask me, but to each their own I guess. It depends on the reason your playing the game, if your looking for a strategy based game, you'll hate dice and love poker, but if you just want to play for fun, easy and enjoy the ups and downs than, you will like dice. If choose one, I will choose dice because it's easy.
Ever dice would not be in my option because we may see the lose more than winnings in dice gambling. I would like to do betting or poker room games to use the strategy and gathered information to use and win continuously but we cannot do that in dice game. If you avoid dice even you will also consider gambling is one type profitable earning method in btc. it's possible to lose out on any game in gambling, don't know why you would say otherwise. it's also not entirely likely you'll get strings of wins I poker either; it still boils down to being a game of chance, no amount of skill can change the cards you're dealt. conversely, it's also possible to get strings of wins in dice, it's just that you have very little control over that besides your odds / multiplier. Martingale again, he will need to play and lose more of his money before he figure it out. After so many threads about it, and so many stories about lost money with martingale strategy some people still think that they can make money using it. Winning and losing are part of the any game, you need to count your loses and expect good wining hand after. I like to play poker more then other games, in poker you play against other people and its more interesting then other games. You need to follow other players and their cards, your cards, you can win with bluff, or you can be strong and others to fold, you need to know how to take more money with luring other players to pay, books are written about poker and how to play it. It is unfortunate but some people are only going to learn once they get burned and even then, there are people that after losing at a casino game using martingale think that something can change if they have a bigger bankroll or if they play in another casino. |
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If you were in desperate need for money / Bitcoins, what would you do? How to get it, earn it, whatw are your solutions and experiences? I wonder what people are ready to do when money is the problem.
If I'm not mistaken, there are faucets that will give free Bitcoin. You may also join campaigns but the reward won't be easily to get and won't be in an instant. There are campaigns that will take a month to end, and its token to be distributed. Tokens that can be converted to Bitcoin. You may also try altcoin trading, it's a bit risky but the income is big. I don’t really know what to do when I’m in desperate need of money or maybe hungry. What I mostly do is go to sleep or find something fun to keep myself busy and make my body forget it’s hungry. Sometimes I stay calm, believing God for a miracle. But when I see it’s getting out of hand, I look for someone to beg for money. This is sad, especially since you are a hero member, for someone that has been here since October of 2014 I could expect that you could at least earn some money to feed yourself and your family, that is almost three years to learn how to do it. |
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probably not, but bitcoin can act as a money laundering place, because the transaction is very difficult to track. but, I guess, there's not much else to do about it. Today, people are focusing on investment. because bitcoin prices tend to rise.
Bitcoin is not difficult to track, in fact it is very easy and it is done everyday, it may difficult to put an identity to an address but the moment you cash out, that is when you can get identified by authorities. |
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