Most people now with the rise of bitcoin value, just want to hold bitcoin for as long as they can so that they can maximize their worth. But isn't it a little too greedy to just keep holding bitcoin?
We've all read that story in the school with the moral "Greed is a Curse".
So what if too much greed in bitcoin may backfire? What if, the hodlers end up with nothing?
No, Holding bitcoin is not greedy at all. Let's just assume that holding your bitcoin for a long term is like saving your money in the bank with a high interest. Holding your asset for long term because you knew that it will have more value in the future was the smartest way to earn huge profit. The same thing when you buy Gold when the price was cheap, and then sell it when the price was high. The only one I would call greedy if you're doing a trade with leverage for example like trading forex and stock with high leverage x2 - x5 or more. It's just like saying working for your income is greedy, hell no because that's what your life depends on and so working hard to earn bitcoin and hold them as an investment should not be thought of as greed but rather a blessing to the lives of your family. I was about to give the same analogy - with gold and saving in the bank. Saying that holding bitcoin is greedy would be like saying that it is greedy to keep gold or savings in the bank. We do live in a greedy world. It's survival of the fittest out there, and a lot do much worse acts of greediness other than innocently holding some bitcoins. I think it's greedy when you deprive others of acquiring because you have been withholding too much. In this case, a lot of others can still acquire or earn bitcoins even while some people hold bitcoins. |
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After all those years of holding of course early adopters would want to reap their reward for being able to hold that long. I think they eventually would. If I were in their position, I definitely would especially after gaining many profits. Especially if they were able to hold a good amount of coins - those who acquired two digits or more. But I think that some would still keep their coins, and they would just cash out a desired number. Also, some coins should go back to the circulation.
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It absolutely needs to be on a legal accepted framework, otherwise any gov't can just come in and seize your assets. There is no stand to make, that fight for complete independence from gov't regulation has already been lost, most of us just haven't realized it yet.
I have the same sentiments and fears. I'd go for the compromise. It's risky to possess something which is illegal. still respect our land's laws and have fear for it. I'm still a law abiding citizen above anything else. It would be better even if there would be some regulations - taxes and whatnot. I'm more scared of confiscation for the illegal possession of bitcoin. We have no choice. As the popularity for bitcoin and crypto is increasing, it is but inevitable for crypto regulation to happen. |
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Why don't you have the courage to buy it if you believe in it? I'd say go for it. Maybe wait for a correction until Bitcoin go below $5K, but it won't make many differences if you're not buying in large amount. I believe Bitcoin has the potential to reach $10,000 in the following years (likely next year). Shouldn't be too hard under current circumstances.
Since you believe in bitcoin, then you're probably aware that the price may be much higher in the future by the time you decide to buy? Although there will be some price dips and corrections, it would still be much higher. Maybe you should buy already once there is a price correction. If you buy by now, you would make a lot of money like your friends by now. What are you waiting for, OP? Take the risk since you believe in Bitcoin anyway. It's a very good investment. |
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I had the same thoughts but mainly because I envy the early adopters.
But no, I don't think that it's unfair that the early adopters benefited from bitcoin because they took the risk back when hardly anyone believed in bitcoin. Also, it took a lot of effort to hold those coins for several years. They simply reap their rewards as early adopters and it's not unfair. Just as how we will benefit after a few years even while other people chose not to believe in bitcoin - it won't be unfair to them for not believing in bitcoin back then.
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i think best way to hold money is to invest in real estate or in land. as the price of land keeps on increasing and its demand will never go down (provided some study had been made on the location's future). I would say that investing money in gold is lame waste because its price will never get double within 3 or 4 years but in crypto its possible.
Real estate or land does accumulate or increase in value especially if the land is located where development will undergo or urbanization so it’s a good way of investing as well. With gold, it’s considered a secure way of investment because many have trusted it for years and believe that it’s value won’t go down for the years to come as with other precious stones or materials. I also still trust banks, even with many cryptousers who do not trust banks because it is still secure. |
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That would depend on your definition of average, OP. Almost anyone can have access to the internet or own a mobile device even without any educational attainment. However, those are not enough for you to utilize bitcoin and cryptocurrency properly. One would have to be able to understand the use of a wallet, the fluctuations of the prices and at least basic knowledge about blockchain technology otherwise they might get lost while using it or even worse, misuse it. Surely, bitcoin is not simple to a lay man. It does not require high intelligence but its features would need some understanding and a bit of skill.
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Savings in banks Deposits in banks Property investments, such as buying property (land and buildings) are then leased or resold after some time later. Gold investment, such as buying gold and then stored for the long term. May be useful in the long run. and produce a decent and satisfactory. or farming to buy sawan and gardening and planting fruits and vegetables is a very good investment. Although a little vulnerable to failure but it could not hurt to try.
I think bitcoin is a really good way to invest money. When we buy bitcoin, we are like investing something because the value of bitcoin increases. Who knows? In the future it's value could become way more. So, why not buy today? Yes it is a very good way to invest money and to earn money in a short period of time. I think there is no other business in the world for ordinary people to make so much money as in bitcoin easily. Just buy some bitcoins and hold them for some time and the profit will be there in your account without any struggle and efforts. Investment in bitcoin does not require any skills and experience. It is a currency and nothing more. I don't think that it's easy though. Buying bitcoins is easy, but holding it for a long time is hard. You would have to resist from the temptation of cashing out immediately especially whenever the price goes down. Panic sellers fall from this temptation. It's a struggle and it will take some effort to hold your bitcoin. Although it's true that you won't need much skill and experience unlike with trading. With that we can say that bitcoin is a good way to invest your money in. |
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I was reading through the replies and was dissapointed to some or even majority who just gave their prediction. I don't know if they are just giving wild guesses but everytime you make a strong statement or conclusion, you need to support it by either technical or fundamental analysis or even both.
Anyway in my opinion, it is really hard to predict since it has gone far and high in price right now. I am actually affraid it may go down sometime next year with the rumors that the government may follow other countries who banned it already.
I don't know where you live, but most of us in " third world countries " don't trust our goverments so much. For example, I invested a little of fiat in bitcoin when no one in my country heard about it, and when Goverment issued a warning to practice extreme caution when buying Bitcoin, and generally took negative stance on crypto, I invested much larger amount of fiat. Goverment ban is basically a good thing to raise awarness of Bitcoin, because awarness, in most of the world is 1% or less, and we will not see full price without 50%+ awarness. Anyway, yes I agree that in first quarter of 2018 the price will probably go down, to 3-4000, but simply because of the people who invested heavily in 2017, in hope of high return. And they tent to get nervous and drop at first sign of price declining. I see lots of that kind of guys lately. So my prediction, 3000 - 4000 in January and February, and 12 000 - 18 000 end of 2018. Most are just speculators and just give out price predictions here and there with the hopes that the prices would go in their favor. It really is hard to tell and predict. Woah, 3000 - 4000 would be a massive price drop. Is that so? I think we'll experience a price correction because for 2017, the price has been continuously going up. Most have predicted that the price would go up by next year so a prediction of a price drop like that is shocking. Also, how is a government ban a good way to raise awareness of bitcoin? Because it brings bad publicity? I think that a government ban would still negatively affect the price of bitcoin even for a third-world country because it would deprive a lot of bitcoin users. |
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A documentary here in the Philippines entitled: FAILON NGAYON have exposed Bitcoin as a type of scam.
It goes like this: a callcenter agent guy invested on one of the sh*tcoins here. He invested a fair amount of money into it as a promise projection of 50% gain for about 3 months. After 3 months have passed and he was about to withdrawn the money, support system from that UK based comoany was suddenly became unresponsive.
Financial analyst said that bitcoin is being used by some scammers to phish for money from users through untrusted sites.
None of this has anything to do with Bitcoin. There are plenty of scammers that have attempted to exploit the hype around Bitcoin to perpetrate their scams, but that is no fault of Bitcoin. And yes, some hackers/phishers use BTC. And before BTC, they used dollars, flipping stolen credit card numbers and carded gift cards. They still do. And now they use altcoins like Monero, too. So this FUD about association with crime is unfounded, unless we are going to deride all forms of money (including fiat money) for the same reason. I have to agree. Bitcoin is not the main perpetrator here. A lot of scams utilize different kind of monetary mediums - some may use bitcoin, altcoins or even any fiat money or local currency. In this case, a token or different kind of coin was used. Since it is associated with cryptocurrency, bitcoin was simply affected here and because of this bitcoin's name got tainted. It's not new that there are some scams out there but we shouldn't blame bitcoin for those. It's unavoidable in this world, scams can be found anywhere even outside of bitcoin. |
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Yes a bit surprised to be honest by the speed. I had expected that bitcoin will go up before the fork but certainly the recent news from CME and amazon might have fueled the growth even more. We will see some correction soon, healthy correction can only be good for the long term growth of bitcoin
I have to agree because even while I was expecting there to be a price increase, I was also surprised by the speed. The price up got so fast that it took me by surprise. Each day actually when I check the price, I still get surprised because even while I know that it will continue to increase, it goes up very fast almost each day. I also expect there to be a price correction because it's just normal to experience one especially after experiencing such a rapid price increase. I don't think the price will go down that low. |
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The price could cross the 7000$ before the next fork. It's not that far but in the meanwhile probably the price will fluctuate, a bit up and down all the time but maybe we could reach even 7500$. I expect correction soon after the fork or maybe a day ot two before but not very big. Anyway, this is the great time to make the profit so put all your available coins into that.
It is quite possible for the price to get to $7000 by the next fork because it's so close to reaching it. A price correction is but expected to happen especially with the continuous increase of the price. But even with the correction, I don't think that the price will go down that much. Bitcoin would still remain at $6000 level perhaps then continue to increase after the correction is made. This would be a great time for others to buy and make some profits. |
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Bitcoin may not teach about savings directly but perhaps the use of it will. For me, it has taught me how to save because for the first time in my life, I've been earning through bitcoin. It has made my become conscious of my finances and expenses. It has taught me how to save because I am now mindful of the financial decisions that I make. Perhaps in a way, once kids learn about finances through bitcoin, it may teach them a thing or two about saving.
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I was browsing for news in bitcoins last week when I got intrigue with this title in an news article. In deed, the biggest test for bitcoins in this year for there are a lot of scares with its operations. There has been issues with its legal basis as China and South Korea has halted their exchange operations. The all time low bitcoin value then the sudden increase of its worth... It has been a roller coaster... but thankfully it survive and here we are...
Indeed in the year 2017 bitcoin price increase is quite significant compared to previous years.This opportunity should be able to maximize both for investors in getting doubled profits later so that in every transaction can also make feelings of being happy. Exactly, You can see the price rise of Bitcoin in year 2017 from 1000$ to now 6000+ $ and such a rise in price and value has never been seen before in bitcoin or any other currency. 2017 brought a lot of changes in bitcoin which includes hard forks and more making it a important year . well i think year 2017 is not ending maybe we have the right to predict but i think it is really hard to predict that year 2017 is the year of bitcoin.because we really dont know what will happen in the next few years from now maybe btc will be rising continueous and it is continue to rise so then i can really say that maybe there will be another years for bitcoin .because there is a big capability and a great posibility that bitcoin will rise in the next coming years. I agree, it was definitely a crazy year for bitcoin. Some say that we should expect a price increase for the end of 2017 and judging from the looks of the price now, we may experience a steady rise. A lot has happened this year yet bitcoin remained to be strong and resilient. Also, it has received much support from its users and hodlers. As my first year with bitcoin, the significant price increase has surprised me and also how it continued to increase. |
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I believe that a lot can. For the early adopters, they were able to hold bitcoin for more than 3 years. I even believe that some have been holding up to now even if the coins that they have must have very high value. If you choose to believe that bitcoin will continue to increase in value, anyone would be able to hold it for 3 years or even more. Just look at how far it has grown - bitcoin has much more potential to grow even more in the future.
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Last month my friends told me about bitcoin, I heard all about of bitcoin from them. They told me that bitcoin is the best way earning money. Bitcoin is a crypto currency which help us to earn money. They told me that you have to do some work by step to step before the earning money.
It's good that your friend said that you have to work step-by-step first before getting to earn money. A misconception of bitcoin is that it's the ticket to wealth and an easy way to get rich but there's really no easy way. Sure, bitcoin allows you to earn but everyone has to work hard for that. As for me, it's quite similar because I first learned about bitcoin from my friends who also taught me how to earn from it. They have also taught me how step-by-step first. |
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My conservative estimate for end of 2018 is $15k-20k, so that's what I'm hoping for.
I think its very unlikely it won't be at least $15k.
I could see it going as high as $25k next year since I definitely think institutional investors will start getting on board in 2018 and the price will really start booming.
Wow, that's a huge number. And that's still conservative? I was going for about $10K but you even predict it to reach at least $15K. Interesting, I really do hope for the price to reach that much by the end of the 2018. But in fact, I did not expect for bitcoin to be this high for 2017 so I guess anything may be possible. For all we know, it could get even higher than all of our predictions. |
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Yes we could use bitcoin in space as long we have are own internet connection and why we need to use bitcoin in space if we cannot use our bitcoins there. We should focus outside the space not focusing in earning bitcoins. And the salary of a astronauts are much bigger than we earned through bitcoins.
what are you talking about ,did you in any way thinking that the astronauts are focusing on earning bitcoin  How cares about the salary of astronauts,@ OP if you are having an internet connection then you will be able to send bitcoins where ever you are and there wont be any restrictions,it is as simple as that,i am just scribbling because to make you understand how simple the question was.  He make it more complicated on its answer even the question is very very simple but well its his own view and i do agree that astonauts having big salaries but the main question here is about bitcoin usage on space and yes its really possible as long we do have connection and could able to make transaction on the entire chain then it wont really be a problem as long web signals can reach out their destination. With regards to use - I don't think there's that much use for bitcoin up there. I mean, sure it's possible but I don't think that astronauts pay or spend anything when they're in space despite their huge salary. Perhaps in a different century, where developments are made in space then it is possible to be used on a daily or regular basis. If a community were to be put up in space, then perhaps bitcoin would be their choice of currency? Who would know. Technology continues to advance each day so anything is possible at this point. |
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Crash is possible after investors dumps their money on fork event.Prices will climb till 6000$ but later crazy movements will result in losses due to hitted stop loss orders. I hold my bitcoins till next year and long term holders always win at the end.
I disagree with this, After october 25th fork another Fork might happen on November so if the fork is successful then bitcoin holders will keep it until the next fork. and with the increasing user it may not affect its price. No there is no chance that bitcoin will crash in coming time I believe that bitcoin will still remain on the top in market with high price and today price is very good than before so here is no chance of bitcoin to loss its value or crash because know how to survive in market and now its users are also going to support bitcoin which is a very good thing for bitcoin. I don't foresee there to be a crash because bitcoin seems to be stable despite the constant price change. Even with the upcoming forks and numerous FUDs, bitcoin continues to rise so I don't see any reason for it to collapse. Yes, the users have been continuously supporting bitcoin and this contributes to bitcoin's strength and resiliency - and is able to withstand the struggles it goes through. No one has been dumping so there won't be a crash or collapse. Instead, it will just continue to rise. |
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Trading can give you a huge amount of profit that is more than what you get from a regular job but there's no assurance the you will always gain. Trading is unpredictable so if you made the wrong decision or speculation, you will just wait and wait until you make a profit so it's not going to be a fixed income.
I agree that trading can give a better profit but there's no way that it will going to give us an assured profit and there's no way to earn fix-income in trading. The prices of alt coins that we are trading are changing from time to time and what's worst is when the price of it we're all at down fall. But after experiencing this things, you can learn a lot of things from it and who knows that you can be a good trader that earns good amount daily. I agree with what you've said. To OP, we can't say that trading would provide us with fixed income because as said - trading is very unpredictable. You may win some or lose some in a day and the amount you get would depend on how well you were able to sell. Also, this is because of the constant price changes of the altcoins. There's also the risk of incurring a loss if you make a wrong decision. My advise to OP: Trading truly is profitable but I wouldn't say that you would get fixed income from this. |
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