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Author Topic: Thoughts on "holding" Bitcoin  (Read 6227 times)
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Blue_Tiger73
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October 12, 2015, 09:57:10 PM
 #61

I hold on to Bitcoin over real money because I know that Bitcoin will either go up or down, and I am willing to take the risk  to earn money. Whereas real money isn't as risky and you won't earn as much.
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October 13, 2015, 03:26:42 AM
 #62

I think that some of your bitcoins should be lended or invested. Holding 100% of your bitcoins is a good strategy, but in my opinion, holding 80% of them and lending/investing 20% of them is a better strategy.

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October 13, 2015, 10:00:13 AM
 #63

holding a bitcoin would take a few yrs or some months to make some profit
for me its time investing but its worth it in the end i can say

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October 13, 2015, 10:06:36 AM
 #64

Holding bitcoin is a slow and boring process to gain profit in btc's but good for those who really doesn't use bitcoin in any matter. As in zero use. All coins are just kept on wallet. If people are not using bitcoin then holding is good for them. But for those who are trying to gain more btc's and using btc regularly then holding is not recommended for faster earnings.

people who are holding bitcoins won't mean they aren't spending. people have several wallets for different purposes. i personally prefer a slow but steady growth.

Yes, exactly this! Also slow and boring = the safest way (as long as Bitcoin doesn't go to zero)!

Like I say"It's good for those who really doesn't use bitcoin in any matter" or should I say for those who only spending it a little bit because their fiat will do the rest of spendings. Im doing holding too if I don't have to use my bitcoin for such purposes.

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October 13, 2015, 10:25:09 AM
 #65

Holding bitcoin is a slow and boring process to gain profit in btc's but good for those who really doesn't use bitcoin in any matter. As in zero use. All coins are just kept on wallet. If people are not using bitcoin then holding is good for them. But for those who are trying to gain more btc's and using btc regularly then holding is not recommended for faster earnings.

It might be slow but I don't think it's boring. The price is regularly going up and down and the more you have the more significant it is. Bitcoin certainly isn't for the inpatient though but I think long term it will pay off. You could also trade with them in the meantime to make it more exciting.
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October 13, 2015, 10:30:54 AM
 #66

Holding bitcoin is a slow and boring process to gain profit in btc's but good for those who really doesn't use bitcoin in any matter. As in zero use. All coins are just kept on wallet. If people are not using bitcoin then holding is good for them. But for those who are trying to gain more btc's and using btc regularly then holding is not recommended for faster earnings.

It might be slow but I don't think it's boring. The price is regularly going up and down and the more you have the more significant it is. Bitcoin certainly isn't for the inpatient though but I think long term it will pay off. You could also trade with them in the meantime to make it more exciting.

You are right here. But I have some words for it for saying that.

Many bitcoiners are different. Some like to hold. But for users that regularly use bitcoin for everyday spending they not preferred the holding method since their priority is to increase bitcoins for not that long process like holding does.

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October 13, 2015, 11:16:31 PM
 #67

When you're "holding" Bitcoin it tells me you're planning to sell them at a higher price. You're just holding them for now with no purpose behind it.

Are you "holding" US Dollars too? No. You're saving some and spending some.

Bitcoin is a currency so use it like a currency. If you're already doing that you should use better terms to describe what you're doing.

Holding on to bitcoin for me is not a good idea.  Bitcoin is extremely volatile so you should use it while you have it.
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October 14, 2015, 12:32:25 AM
 #68

When you're "holding" Bitcoin it tells me you're planning to sell them at a higher price. You're just holding them for now with no purpose behind it.

Are you "holding" US Dollars too? No. You're saving some and spending some.

Bitcoin is a currency so use it like a currency. If you're already doing that you should use better terms to describe what you're doing.

Personally, I would hold on to bitcoin.  I will wait for the price to go up and then I will sell them.
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October 14, 2015, 12:44:01 AM
 #69

When you're "holding" Bitcoin it tells me you're planning to sell them at a higher price. You're just holding them for now with no purpose behind it.

Not necessarily true. Just because I'm holding on to it doesn't mean that I plan to sell it back later to fiat money. I might want to use it to spend on something worth a certain value today but might be cheaper in the future because my bitcoin gains in value. And I don't find any point to sell it to fiat which the value has gone down and will further go down in value. So spending the coin is the key.

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October 14, 2015, 12:50:31 AM
 #70

I invest my btc all the time

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October 14, 2015, 01:01:24 AM
 #71

When you're "holding" Bitcoin it tells me you're planning to sell them at a higher price. You're just holding them for now with no purpose behind it.

Are you "holding" US Dollars too? No. You're saving some and spending some.

Bitcoin is a currency so use it like a currency. If you're already doing that you should use better terms to describe what you're doing.

If you are holding on to bitcoin, then it is clear that your next move will be to sell them.  Bitcoin is extremely volatile so you should always be kept informed.
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October 14, 2015, 03:06:14 PM
 #72

I think that some of your bitcoins should be lended or invested. Holding 100% of your bitcoins is a good strategy, but in my opinion, holding 80% of them and lending/investing 20% of them is a better strategy.

maybe it was true before, but right now there are 99% scam here and there, and you will mostly lose those 20%

better holding and hoping for an increase which i'm sure will occur at some point, unless we should do it more now than ever because of the halving
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October 14, 2015, 03:29:06 PM
 #73


Personally, I would hold on to bitcoin.  I will wait for the price to go up and then I will sell them.

How can you tell the price is up?

Well if that is your method then so be it. Holding is nice but rotating is much nicer. You will got my point if one day you will need money and your saved bitcoin is your last hope.

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October 14, 2015, 04:18:37 PM
 #74


Personally, I would hold on to bitcoin.  I will wait for the price to go up and then I will sell them.

How can you tell the price is up?

Well if that is your method then so be it. Holding is nice but rotating is much nicer. You will got my point if one day you will need money and your saved bitcoin is your last hope.

When the bitcoin price was $80, I thought bitcoin price peaked. I used the bitcoin to pay for phone bill. That turned out to be 3 times too expensive if we use today's bitcoin price to compare.
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October 14, 2015, 04:52:56 PM
 #75

I like to say i am currently collecting rather than holding. For me i am not collecting to selll at higher price, i want to first collect and than hold. My only intention right now is to reach 1 btc and hold it till july 2016 when there will be halving of block reward.

But is the halving of the reward guaranteed to have that much of an effect on price?

It will theoretically, no demand needs to be increased, just mainated. If the demand is maintained and the total supply is cut in half... then we should be at 500 usd at least post halving given current price, so yes, it's good news, but of course, this is all theoretical, we'll see hw it performs under real world situation.

You obviously forget two things. 1) Miners are not the only ones who sell bitcoins, and 2) they don't sell all their bitcoins...

Though it may happen that they will have to sell even more than what they will be mining after the halving

Interesting point, which is what I was thinking about when I asked that question. The price to mine obviously increases, do people think miners will retire/stop, or will technology by then be able to compensate for some of the current problems, like electricity usage etc. I see the new S7's seem to use a bit less electricity. Perhaps it's feasible that mining hardware will just get better, and overall cheaper (not the gear but maybe the overhead, I mean). ?

Addressing the bold, it's a state of constant flux. If electricity (or any miner overhead) gets cheaper, miners can afford more hashing power and more hashing power comes into the market. The algorithm is then tweaked and the difficulty rises to compensate, essentially wiping out any gain related to beneficial overhead trends. I think we are constantly left with a situation where the only people who mine are those who can afford to mine, and it's always going to be just barely above breakeven, because every advantage that brings in new hashing power increases the difficulty of mining.


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October 14, 2015, 04:54:11 PM
 #76


Personally, I would hold on to bitcoin.  I will wait for the price to go up and then I will sell them.

How can you tell the price is up?

Well if that is your method then so be it. Holding is nice but rotating is much nicer. You will got my point if one day you will need money and your saved bitcoin is your last hope.

When the bitcoin price was $80, I thought bitcoin price peaked. I used the bitcoin to pay for phone bill. That turned out to be 3 times too expensive if we use today's bitcoin price to compare.

I'm interested to know what phone provider was so far ahead of the trend as to be accepting bitcoin as a payment method!


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October 14, 2015, 05:21:34 PM
 #77


Personally, I would hold on to bitcoin.  I will wait for the price to go up and then I will sell them.

How can you tell the price is up?

Well if that is your method then so be it. Holding is nice but rotating is much nicer. You will got my point if one day you will need money and your saved bitcoin is your last hope.

When the bitcoin price was $80, I thought bitcoin price peaked. I used the bitcoin to pay for phone bill. That turned out to be 3 times too expensive if we use today's bitcoin price to compare.

I'm interested to know what phone provider was so far ahead of the trend as to be accepting bitcoin as a payment method!

I believe he meant that he sold his bitcoin for fiat and then used that fiat to pay for the bill, and not that he paid it directly with bitcoin.

As far as holding term goes from OP, it's not that far from how people use fiat money. Even traders that are holding to sell at higher price don't sell their entire share,
but rather keep a part of it, like a saving. I consider bitcoin to be in a way similar as fiat, but with a twist - you can make nice profit trading it as it jumps up/down.
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October 14, 2015, 05:31:22 PM
 #78

I think that some of your bitcoins should be lended or invested. Holding 100% of your bitcoins is a good strategy, but in my opinion, holding 80% of them and lending/investing 20% of them is a better strategy.

No, no, and no. Unfortunately if you do this, there are big chances that you will be 20% shorter on your bitcoins one day, since you will get scammed.

I would hold all my coins in the cold storage except the ones I have for daily spending.
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October 14, 2015, 05:39:09 PM
 #79

I think that some of your bitcoins should be lended or invested. Holding 100% of your bitcoins is a good strategy, but in my opinion, holding 80% of them and lending/investing 20% of them is a better strategy.

No, no, and no. Unfortunately if you do this, there are big chances that you will be 20% shorter on your bitcoins one day, since you will get scammed.

I would hold all my coins in the cold storage except the ones I have for daily spending.

I tend more towards the 80% cold storage / 20% investment side (though right now it's more like 95%/5%), but I'd certainly tend towards recommending 100% cold storage as a general rule. But... I don't think the risk of being 20% shorter is that big - unless you stick all your 20% in one "investment" (and I'd hope no one would do that). Part of investing is managing risk, and a big part of managing risk is spreading investments - not putting all your eggs in one basket.

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October 15, 2015, 08:05:40 AM
 #80

I think that some of your bitcoins should be lended or invested. Holding 100% of your bitcoins is a good strategy, but in my opinion, holding 80% of them and lending/investing 20% of them is a better strategy.

No, no, and no. Unfortunately if you do this, there are big chances that you will be 20% shorter on your bitcoins one day, since you will get scammed.

I would hold all my coins in the cold storage except the ones I have for daily spending.

But if we do not use (circulate) bitcoin, then it is no use. The value will drop. So we need to use, adopt bitcoin.
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