Is holding Bitcoin generally good?

[katanic97]

Normally, there are different reasons why people buy bitcoin. Some people have bitcoin as an alternative currency that can be used for purchasing, while some buy bitcoin to hold it for more profit to be gained. But whoever chooses to hodl bitcoin, it is always good for hodlers to hodl very well and make a profit from it. It doesn't sound good to investors who understand bitcoin very well and are good hodlers when people struggle with holdling. It is expected that bitcoin will be spent by whoever, but it makes no sense for an investor who wants to hodl bitcoin to end up selling for not a good reason, maybe out of fear of the market or lack of patience.

A lot of people hold BTC for many years some of them, whom i personally know, even received a good amount for free, while others rushed and sold at the wrong time. Realistically, you never really know how the market will behave, but one thing is certain , you have to be patient when it comes to BTC. The same goes for investors most of them lack patience and end up selling at the wrong time.

Everyone wants to profit from Bitcoin but can everyone profit? In reality, many people invest in Bitcoin but they cannot hold Bitcoin for the right time due to which many lose their assets. Bitcoin is a long-term investment project with a high probability of losing in the short term. Although there are some who have a good understanding of Bitcoin and some of them make profit, there are others who do not understand and lose their wealth. I have seen many investors who could not hold Bitcoin for the long term. It can be said for sure that those who are able to hold Bitcoin for the long term with patience will definitely be profited by investing in Bitcoin.

Profit definitely depends on how patient you are. It’s hard to go against your own instincts, and sometimes it’s tough to see your portfolio not looking the way you imagined but that’s the whole point. People panic and sell, and I understand that, because in many cases we’re talking about large amounts of money. But if you’re not ready to part with that money, then don’t invest it in the first place it’s that simple.

[HOPE25]

Please take a moment to get my point before you conclude. I know a lot of people judge a post by the topic alone and if that is applied to mine, I might be sounding anti-bitcoin since selling is highly demonized by a lot of people in this community.

Now the question is, assuming everyone who ever bough bitcoin is holding their bitcoin in their private wallets, what will be the fate of bitcoin and the bitcoin network? Does holding bitcoin strengthen the bitcoin network? If no, are those who sell and more their bitcoin on-chain generally doing bitcoin bad?

I believe in holding bitcoin and I'm actually holding some quantity and still buying. But a greater part of me feels that there should be more to bitcoin that just buying and holding in private wallet to gain some profits. I believe that bitcoin will be much more beautiful if a good number of human populations are using bitcoin for their daily lives and have real testimony that bitcoin actually made their lives better. We cannot achieve that if we only encourage people to buy and hold, can we?

I don't know if I have sounded so pessimistic towards bitcoin. From the depth of my heart, I want bitcoin to gain more utility than it has, the reason I made this post to seek opinion if there are people actually thinking in this direction or the right way of thinking about bitcoin is only HODL.

The main purpose of Bitcoin is for us to use Bitcoin more and and for real investment. The question you raised is not really a logical full technology but a matter of the future of the wealth movement. Our regular daily use is driving the economy forward. Bitcoin does not strengthen its operations just by holding it. It is paid fees who actually see it as part of the block space, then it becomes its main purpose.

[Obari]

Most times it seems like a crime to even mention that you sold your bitcoin especially for a tangible reason and I even begin to wonder what’s really the purpose of holding when one can’t freely sell after making some profits on their bitcoin but rather would rather want to hold.
If you’ve ever met a core holder, then you’ll understand what op means by demonizing selling of bitcoin which is also a very essential part of the growth.

A lot of bitcoiner are already forgetting the core purpose of bitcoin which was simply to be a decentralized digital asset for our return daily transactions without any government interference but I think because are focused more on just holding it and seeing it grow profits over night

[Baki202]

If you are mentally strong enough to hold Bitcoin long term then please do it. Most people panic & sell during price deviations. If you can block out the noise though & hold long term you will make big profits. Most people fail long term & sell when the price dips. There’s a reason why most people stay poor. Bitcoin is get rich slow technology.

I think even if the person is not mentally strong then they should find a way of building there self there is a lot for them to actually learn when it comes holding tolerance and endurance have to be embraced when you are not patient enough then I don't think such people will be able to hold because holding comes with a lot.

 
When you are holding what you are suppose to be focusing on should be the end game and not the present and only when you understand that you will be able to succeed, because sometimes when the price starts crashing down then it becomes more and more difficult to hold but eventually with time this is something that they can actually get use to. And only when you hold for a long time that you will be able to get that huge profit. But it all lies in how patience you are. And this are the kind of orientation that people need to be getting so that they will actually know what they are getting into because most people don't even do there findings they just buy and hold and the next thing they just want sell. It drives down to so many things at this point.

[GbitG]

Most times it seems like a crime to even mention that you sold your bitcoin especially for a tangible reason and I even begin to wonder what’s really the purpose of holding when one can’t freely sell after making some profits on their bitcoin but rather would rather want to hold.
If you’ve ever met a core holder, then you’ll understand what op means by demonizing selling of bitcoin which is also a very essential part of the growth.

A lot of bitcoiner are already forgetting the core purpose of bitcoin which was simply to be a decentralized digital asset for our return daily transactions without any government interference but I think because are focused more on just holding it and seeing it grow profits over night

Well, there is nothing wrong with selling the assets you hold if you have met the target you had in mind, and there is nothing wrong with holding them as well. Different people will treat it differently, and that doesn't matter because it isn't going to stop the general circulation of the asset. Just because people hold their coins, it doesn't mean the markets are going to stop, and trading will cease, because there will always be enough supply being exchanged and transferred from one party to another.

Apart from this that the actual value of Bitcoin is in the demand, and that value doesn't get affected by people either holding or selling their coins whenever they want to, because the value depends on the demand and supply rule, and the supply isn't going to increase. Bitcoin's actual purpose was to be a peer-to-peer decentralized payment system, but since it's rare, it got value, and now people use it for two things; getting profits and making transactions.

[Marvell1]

A lot of bitcoiner are already forgetting the core purpose of bitcoin which was simply to be a decentralized digital asset for our return daily transactions without any government interference but I think because are focused more on just holding it and seeing it grow profits over night

Not only do many people forget the core purpose of bitcoin, everyone forgets it, including you and me.

The harsh truth is that most of us no longer care what bitcoin's original purpose was, and many don't even want it to be a currency. That is why I no longer believe that bitcoin has a chance to become a currency and it is we, and no one else, who are contributing to its failure to become a reality. People are just using it as an asset, a tool to get rich including the first bitcoin holders, not just the recent new investors.

[AGogi2003]

If you are mentally strong enough to hold Bitcoin long term then please do it. Most people panic & sell during price deviations. If you can block out the noise though & hold long term you will make big profits. Most people fail long term & sell when the price dips. There’s a reason why most people stay poor. Bitcoin is get rich slow technology.

Sure some people fail for long term because they are not really patient enough to invest for long term to get huge profit. And bitcoin is not like other coins that increase deeply in shot term, is only shicoin can raise in a minute and still decrease in shot time, bitcoin usually increases in a long term and if you are among people that are patient to invest for long term will get the benefit but some are really scared to keep there coins for long periods of term that is why anytime to price try to drop, scared investors sold coins immediately to avoid losing.

Bitcoin is not like that, anyone that is ready to get profit in bitcoin need to be patient to get the reward and he won't come easily because anything that will bring huge profit don't used to come in a easy way, you need to face some challenges and if you can pass all this issues you will achieve your goals in bitcoin, and the main challenge in bitcoin is volatile if you can handle that. even the price drop you will still leave your coin, that means you're a good investor and your patient is strong and he will lead you to profit. Because anyone that is patient enough can face any challenges in the market and get profit.

[nemesis_incarnate]

A lot of bitcoiner are already forgetting the core purpose of bitcoin which was simply to be a decentralized digital asset for our return daily transactions without any government interference but I think because are focused more on just holding it and seeing it grow profits over night

Not only do many people forget the core purpose of bitcoin, everyone forgets it, including you and me.

The harsh truth is that most of us no longer care what bitcoin's original purpose was, and many don't even want it to be a currency. That is why I no longer believe that bitcoin has a chance to become a currency and it is we, and no one else, who are contributing to its failure to become a reality. People are just using it as an asset, a tool to get rich including the first bitcoin holders, not just the recent new investors.

Time will do the trick, imo.

For now, everybody wants to hodl it, mostly - but who knows what comes afterward, after all the companies would adopt BTC as part of their treasuries and so on?

[Tmoonz]

Most times it seems like a crime to even mention that you sold your bitcoin especially for a tangible reason and I even begin to wonder what’s really the purpose of holding when one can’t freely sell after making some profits on their bitcoin but rather would rather want to hold.
If you’ve ever met a core holder, then you’ll understand what op means by demonizing selling of bitcoin which is also a very essential part of the growth.

A lot of bitcoiner are already forgetting the core purpose of bitcoin which was simply to be a decentralized digital asset for our return daily transactions without any government interference but I think because are focused more on just holding it and seeing it grow profits over night

Well, there is nothing wrong with selling the assets you hold if you have met the target you had in mind, and there is nothing wrong with holding them as well. Different people will treat it differently, and that doesn't matter because it isn't going to stop the general circulation of the asset. Just because people hold their coins, it doesn't mean the markets are going to stop, and trading will cease, because there will always be enough supply being exchanged and transferred from one party to another.

Apart from this that the actual value of Bitcoin is in the demand, and that value doesn't get affected by people either holding or selling their coins whenever they want to, because the value depends on the demand and supply rule, and the supply isn't going to increase. Bitcoin's actual purpose was to be a peer-to-peer decentralized payment system, but since it's rare, it got value, and now people use it for two things; getting profits and making transactions.

Exactly, given too much attention to whatever people do with their Bitcoin might not really be necessary it is an open space where anyone can do whatever they like because what matters most is that they making use of Bitcoin for a certain purpose or reason convenient to them which course we take responsibilities for our actions and reactions, people also use Bitcoin for it high level privacy by giving us the total controls or our money which is called individual sovereignty. However, no doubt about the increasing percentage of people holding it as an investment for profit making.

[henry_of_skalitz]

Exactly, given too much attention to whatever people do with their Bitcoin might not really be necessary it is an open space where anyone can do whatever they like because what matters most is that they making use of Bitcoin for a certain purpose or reason convenient to them which course we take responsibilities for our actions and reactions, people also use Bitcoin for it high level privacy by giving us the total controls or our money which is called individual sovereignty. However, no doubt about the increasing percentage of people holding it as an investment for profit making.

We are our own kings regarding our BTC holdings, and the less people would poke at how much we hodl and where - the better.

[Taskford]

Well, there is nothing wrong with selling the assets you hold if you have met the target you had in mind, and there is nothing wrong with holding them as well. Different people will treat it differently, and that doesn't matter because it isn't going to stop the general circulation of the asset. Just because people hold their coins, it doesn't mean the markets are going to stop, and trading will cease, because there will always be enough supply being exchanged and transferred from one party to another.

Apart from this that the actual value of Bitcoin is in the demand, and that value doesn't get affected by people either holding or selling their coins whenever they want to, because the value depends on the demand and supply rule, and the supply isn't going to increase. Bitcoin's actual purpose was to be a peer-to-peer decentralized payment system, but since it's rare, it got value, and now people use it for two things; getting profits and making transactions.

Exactly, given too much attention to whatever people do with their Bitcoin might not really be necessary it is an open space where anyone can do whatever they like because what matters most is that they making use of Bitcoin for a certain purpose or reason convenient to them which course we take responsibilities for our actions and reactions, people also use Bitcoin for it high level privacy by giving us the total controls or our money which is called individual sovereignty. However, no doubt about the increasing percentage of people holding it as an investment for profit making.

No need to the point that they can choose whatever they like or believe what's better for them. If the like to hold it then its good and also if they want to trade then still better.

As long as they know what they are doing for sure everything is alright since each of us have different likes and there are people don't like to hold or trade due to their own personal reasons.

But for me as what I experience I like to hold since it doesn't bother me on my daily activity and I can buy Bitcoin anytime I want without worrying about the volatility especially that my target is for long term and not want to deal with risky volatile nature of Bitcoin.

[Kagaru]

Please take a moment to get my point before you conclude. I know a lot of people judge a post by the topic alone and if that is applied to mine, I might be sounding anti-bitcoin since selling is highly demonized by a lot of people in this community.

Now the question is, assuming everyone who ever bough bitcoin is holding their bitcoin in their private wallets, what will be the fate of bitcoin and the bitcoin network? Does holding bitcoin strengthen the bitcoin network? If no, are those who sell and more their bitcoin on-chain generally doing bitcoin bad?

I believe in holding bitcoin and I'm actually holding some quantity and still buying. But a greater part of me feels that there should be more to bitcoin that just buying and holding in private wallet to gain some profits. I believe that bitcoin will be much more beautiful if a good number of human populations are using bitcoin for their daily lives and have real testimony that bitcoin actually made their lives better. We cannot achieve that if we only encourage people to buy and hold, can we?

I don't know if I have sounded so pessimistic towards bitcoin. From the depth of my heart, I want bitcoin to gain more utility than it has, the reason I made this post to seek opinion if there are people actually thinking in this direction or the right way of thinking about bitcoin is only HODL.

Although buying and holding the Bitcoin has repeatedly been touted as a way to ensure it increases in value, there is clearly more to the network than that. It is quite right of you, to believe that Bitcoin still requires much more than just a speculative investment in order to become truly what it is capable of. It requires practical application, real life transactions and acceptance by wider than simply crypto community. Bitcoin is patterned as a medium of exchange, a store of value, and inflation hedge. This means that, should everyone merely store their Bitcoin and never make any use of it, the network might as well turn stagnant, at least when discussing the aspect of scalability and real transactions bandwidth of the network. The thing is, to rise Bitcoin people should use it to exchange, buy and sell goods and services and feel decentralization and monetary freedom in their everyday life.
It is not a question of demonizing selling or transfer of Bitcoin, only that everyone needs to find a balance on what to hold and what to spend. It is the activity that drives the network and when it is used to do everyday purchases the Bitcoin gains utility and solidifies what the people are willing to hold in the first place. Therefore, although HODLing will certainly be a component of the plan, people will also need to spend, make use of, and popularize the use of Bitcoin and its applications in order to make the network bigger than it is today.

I believe that a healthy Bitcoin ecosystem needs both the possession and consumption of it. It will always remain speculation unless there are actual uses of the product. The greater are the human interactions through meaningful ways, the more valuable and strong is the network.

[Ishicryptic]

If you are mentally strong enough to hold Bitcoin long term then please do it. Most people panic & sell during price deviations. If you can block out the noise though & hold long term you will make big profits. Most people fail long term & sell when the price dips. There’s a reason why most people stay poor. Bitcoin is get rich slow technology.

Holding Bitcoin is good because it is a profitable asset, you need to have knowledge of how it works and believe that it's potentials to be profitable will continue to produce results. Long term holding is not for everybody, people that wants to get rich quick will not have the patience to hold and wait for ATH. People normally sell on the short term for two reasons, FUD and if they need money to take care of urgent needs, most holders don't spend it to make payments. Bitcoin holders prefer to hold it for profit and they will use their traditional currency for payments.

[madnessteat]

If you are mentally strong enough to hold Bitcoin long term then please do it. Most people panic & sell during price deviations. If you can block out the noise though & hold long term you will make big profits. Most people fail long term & sell when the price dips. There’s a reason why most people stay poor. Bitcoin is get rich slow technology.

I think that only a small number of investors sell their Bitcoins below the purchase price due to a lack of fortitude or bad news. Many people do not take into account when investing that they may urgently need money, so they are forced to get rid of their investments when such a situation arises. When investing in Bitcoin, you need to understand that it is a long-term investment that can exceed 5 years. Many people are simply not prepared for such long-term investments from the outset, which is why they suffer losses.

[dderekwalcott]

Please take a moment to get my point before you conclude. I know a lot of people judge a post by the topic alone and if that is applied to mine, I might be sounding anti-bitcoin since selling is highly demonized by a lot of people in this community.

Now the question is, assuming everyone who ever bough bitcoin is holding their bitcoin in their private wallets, what will be the fate of bitcoin and the bitcoin network? Does holding bitcoin strengthen the bitcoin network? If no, are those who sell and more their bitcoin on-chain generally doing bitcoin bad?

I believe in holding bitcoin and I'm actually holding some quantity and still buying. But a greater part of me feels that there should be more to bitcoin that just buying and holding in private wallet to gain some profits. I believe that bitcoin will be much more beautiful if a good number of human populations are using bitcoin for their daily lives and have real testimony that bitcoin actually made their lives better. We cannot achieve that if we only encourage people to buy and hold, can we?

I don't know if I have sounded so pessimistic towards bitcoin. From the depth of my heart, I want bitcoin to gain more utility than it has, the reason I made this post to seek opinion if there are people actually thinking in this direction or the right way of thinking about bitcoin is only HODL.

If everyone thought like you, BTC's current position would be more active and stronger all over the world .
Bitcoin is not just a price chart and it is not just for holding to create assets but also for spending, earning, donating, paying and if we can do these things normally all the time then Bitcoin can become a true global currency .
None of us are against Bitcoin HOLDING . The future of Bitcoin depends on the "user experience", if we can buy goods with Bitcoin, send remittances, or live an unbanked life then this will be an effective, realistic step or attempt to make Bitcoin better. Satoshi's main purpose of creating Bitcoin was not just to hold Bitcoin but to use it as a currency, through which people can achieve true freedom and the main purpose of Bitcoin will be achieved .