Is Holding Bitcoin a long time good way to make money?

[viking02]

I first got bitcoin from withdrawing from gambling sites.  I deposited with another method but could withdraw bitcoin so i did it.  Around that time bitcoin was around $220 usd or so and when i got it, i would then trade it for poker funds from other person etc because I didn't want to hold the bitcoins due to reading about price fluctuations.  However, isn't the value of bitcoin almost always going to go up so its best to hold it?  I know last year it was $600 and the highest was when it was more than $1000 per bitcoin.  But since it is all the way down to $200-$300, isn't having bitcoin always good?  Could bitcoin go all the way to 0 soon?  I had thought hey if you get bitcoin when its $230 when the price stayed like that for a long time, thats great b/c very hard for it to go below $200 because i haven't seen that.  But even if it does, isn't it almost always going to rebound and go back up?  Last time i had btc and it was $230 or so and now it went up to $260.  So if you have say 100 bitcoins... well... thats a nice $3000 profit or so.


I'm sure there are ppl that have thousands or bitcoins right and just hold on to it?  And many that would sell btc immediately if prices go all the way up?  If someone had say 500 bitcoin... then btc price went up $20 in say a week or so... selling it would net them $10000 minus fees right?  However if they sell it via localbitcoins or other method, they are going to get a higher profit right?  However if they do this, say sold all their 500 btc... then once bitcoin later in the year go up another $50... well that would be $25000 less they would have earned.



In general, isn't holding BTC always a good thing since the price of it is pretty low now?  Obviously if you bought btc at $600 or $1000 and thought it would went up and held on to your btc, that would been a disaster.  But since its in the $200-$300 range, isn't having BTC always good?

[Xialla]

In general, isn't holding BTC always a good thing since the price of it is pretty low now?

yes it is. if somebody recently asked me "is good time to buy for longterm", I'm generally saying "yes, for sure, and doesn't matter if one BTC is for 220 or 260". Based on various projections and articles, we are still in very early stage and if you buy something even today, you will be considered as early adopter..ofc if bitcoin succeed...

and holding? ohh buy, I love holding so much...it is so cool, really:)

[WheatBreadSaid]

i wonder if i will make money on the btc i purchased. i will hold what little btc i bought a few days ago for a long time. i will purchase some mining power too i think. maybe my btc holdings will increase.

[Inauk]

i think that yes, it is a long time good way to made money, btw im sure that this "long way" will be more shorter than expected, i can see in the last months more and more good news about the bitcoin, coincidence?

[dezoel]

Yes, if you can sell it right at the moment when the price goes up. That's will be profitable,

i think that yes, it is a long time good way to made money, btw im sure that this "long way" will be more shorter than expected, i can see in the last months more and more good news about the bitcoin, coincidence?

'long way' doesn't mean long

[Hexcoin]

You can just simply buy bitcoins when the price goes down and sell bitcoins when the price goes up. Sounds easy right but you have be good in it. You need patience to earn profit

[viking02]

I thought of this so you are watching the btc price every hour?  Or more like every 15 minutes?  Would just checking it few times a day be fine?

[Hexcoin]

I thought of this so you are watching the btc price every hour?  Or more like every 15 minutes?  Would just checking it few times a day be fine?

Doesnt matter if you will watch it hourly as bitcoin price almost doesnt move every hour. You can check the price atleast daily whichever is easier for you

[dezoel]

I thought of this so you are watching the btc price every hour?  Or more like every 15 minutes?  Would just checking it few times a day be fine?

doesn't matter,
you just need to predict whether the price will be going down or up...
few times a days is better

[vendetahome]

I thought of this so you are watching the btc price every hour?  Or more like every 15 minutes?  Would just checking it few times a day be fine?

Doesnt matter if you will watch it hourly as bitcoin price almost doesnt move every hour. You can check the price atleast daily whichever is easier for you

the price can grow or fall really fast, for example the price raised from 220 to 260 in like 3 or 2 days so i think its fast am i wrong?

[inspiredhomeideas]

Its a bit like intangible real estate. Prices fluctuate, but over time, should increase (except you dont get rent-- which is a shame)

[BitcoinNewbie15]

It really depends on how long you want to hold Bitcoin. If Bitcoin will appreciate in value over the years, then you will make some money. But it is very hard to predict if Bitcoin will do well in the future or not. But, as you said, now since Bitcoin is only around $200 - $300 it should be safer to buy now. But that is just my opinion and speculation. It could be very wrong, as Bitcoin does have potential to go down a lot as well.

[ikydesu]

I have a good feeling about halving time, so now is a good time for buy some btc, the price is stable now.

I thought of this so you are watching the btc price every hour?  Or more like every 15 minutes?  Would just checking it few times a day be fine?

It's depend on you want to HOLD, If you want a trading always check the price but it depends on your analysis for get a profit. If you want to HOLD for long term just HOLD until halving time


~iki

[Omikifuse]

Maybe, if you don't lose your bitcoins and don't get hacked.

Don't be that guy that lost millions in forgotten BTC because the HD where they have been stored crashed beyond repair

[micromen]

It can be a good way to make money if the prize rises, if it doesn't then no

[lorylore]

If we were few years back then yes holding btc will give profit.
But today dont know, things are going very slowly

[Amph]

Maybe, if you don't lose your bitcoins and don't get hacked.

Don't be that guy that lost millions in forgotten BTC because the HD where they have been stored crashed beyond repair

usually someone that want to go for long term, should put all his btc in a cold storage and forget about it, no hacker can hack anything

@OP holding bitcoin long term has proven to be worth it, so you might give it a chance, the odds are in your favor

[ikydesu]

If we were few years back then yes holding btc will give profit.
But today dont know, things are going very slowly

Today is time for buy some, and HOLD for long term.

What things? Actually recently, the price moving stable, it's more stable than few a years ago.


~iki

[sun64986161]

NO

better way is buy Hold sell if profit 1-20% buy again if price down
that simple way if you can do it 100x/month you can buy ferrari

but not easy to do it

[favdesu]

HODL Bitcoin is never a bad idea.

However, I diverse to BitShares and NXT.

BitShares BitUSD currently offers ~5% APR (interest) which is quite nice.