I bought my coins when they were selling for $200 each, and held them ever since. I've made tens of thousands of dollars in less than 2 years. I'm still holding. You can call me an idiot all you want... I'm happy with my choice and recommend all to keep their coins unless they absolutely need the fiat for something urgent. I may well (and am prepared to) lose most/all of it, but I do believe deeply in Bitcoin and trust that it will rise to 5-/6-digit values in the coming years.

So, I say, "Good things come to those who wait HoDL"...

Well, I agree with what you're saying, I guess there shouldn't be any reason why I shouldn't use my cold storage wallet to transfer BTC directly to an exchange. I just wanted to ask here at the Trading Discussion section, just in case there's something I'm missing in terms of good/safe wallet usage practices.

Thanks for your reply.

Hello,

This may be a stupid question... If I ever need to sell some of my BTC via an exchange, should I transfer the BTC to the exchange directly from my h/w wallet (cold storage), or should I first transfer them to another wallet (e.g., my phone wallet), and then from there to the exchange?

What do you guys suggest? Are there any privacy, security or other issues with direct BTC transfers from cold storage to an exchange? Are there any advantages to using another wallet between my cold storage and the exchange?

Many thanks!

Just to express my opinion that the recent drop in the price of Bitcoin is nothing to worry about. It was expected, it happened, and we shall soon be moving on to new heights. I see this as a healthy growth, a bumpy uphill road to the top. See the daily chart below (you'll need to click the link for now, because I'm a newbie):



As you can see, a similar drop occurred in the first half of May. See the similarities. I guess (and hope) that the price of Bitcoin will very soon start rising again. As for me, I'm HoDLing all the way, with all my coins safely kept in cold storage, and I suggest you do the same.

Let me be the first to guess...

$2980 / BTC

+1

Small dips followed by quick recovery = healthy growth. Don't sell your coins cheaply (because they are still dirt cheap). HoDL them and let the roller coaster roll.

Good things come to those who wait HoDL!

That's exactly the mistake that most people make, because they don't know how divisible a Bitcoin is. When one Bitcoin reaches $1M, most people won't be able buy a whole Bitcoin, but they will be able to buy thousands of Satoshis. The new buzz words in Bitcoin will be the Satoshi (which is 1/100000000 of a Bitcoin), and the Bit (which is 1/100000 of a Bitcoin, so 1 Bit = 100 Satoshis).

Using current prices, 1 Satoshi = $0.00002, and 1 Bit = $0.002.

When we reach $1M/BTC, 1 Satoshi = $0.01, and 1 Bit = $1.

Absolutely no problems at all!

I know what you guys mean, I know I can potentially multiply my BTC if I do short-term trading or play with altcoins, but I also know that this business is not as easy as it seems, and can back-fire. I don't want to risk it. I'm not a good trader, in fact, I hate trading and can't imagine myself selling/buying all the time, watching the charts 24/7, etc. I find it totally boring and also very stressful and time-consuming.

The only reasons why I'm getting involved in Bitcoin are 1. the mathematical beauty of Bitcoin/Blockchain (I'm an engineer/scientist and can appreciate it), 2. to support and take part in the digital money revolution, 3. because I've recognized that Bitcoin has the potential to grow massively in the near future, thus making it a great investment (with all the risks that come with it).

So, I say "hoDL and let it roll", and I'll be fine and cool wherever this roller coaster leads us.

Are you sure about that 6%? Because I calculated that from 2015 to 2016 Bitcoin had a gain of over 80%, and from 2016 to 2017 the gain was over 110%. The gain from 2017 to 2018 is expected to be even higher than the previous gains (but we don't know yet).

So we're talking about yearly gains far higher than 6% or 12%... Unless I'm missing something.

Edit: With a yearly gain of 100% (too optimistic, I know) and a starting value of $2000, it will only take 8 years for the value of Bitcoin to reach $0.5M/BTC.

Long-time lurker, this is my first post.

I got into the Bitcoin train very late, in 2015, by investing a few thousand € from my savings. I've now got 15 BTC, safely kept in cold storage, and the profit I've made in 1.5 years has been phenomenal. And all this by simply hoDLing. Frankly, I'm very surprised at the comments of many people here, saying that they're going to sell at $2000...

Here's my way of thinking: I consider my fiat investment in BTC as money already lost. What I mean is that I will not feel bad if I ever lose them completely. For me, losing a few thousand € of my investment capital will not make me poor. Will not affect my life at all. Similarly, a gain of $25000 means nothing to me. Will not change my life. Won't make me rich.

What will change my life is when 1 BTC > $10000. Then I will be gaining hundreds of thousands of $ (€ in my case). At that point (if we ever get there -- and I hope and believe we will), I will sell some (but not all) of my 15 BTC, enjoy my earnings, and still be in the Bitcoin rocket on its way to the moon. I do believe and speculate that this will happen and I expect this to take no longer than 10 years.

Selling all/most of one's BTC now, just to gain a few thousand $, is not a very smart move IMHO, unless it's absolutely necessary. My advice to all is to keep hoDLing your coins and don't let some smart guys pick them up for peanuts (because $2000/coin is peanuts when you think of where it could rise to). 10 years is not a long time to wait...