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Author Topic: Is Holding Bitcoin a long time good way to make money?  (Read 349845 times)
viking02
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June 30, 2015, 05:24:11 PM
 #1

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?


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June 30, 2015, 06:51:26 PM
 #2

you're indeed right, bitcoin feel much less risky now than when it was at 600-1200, and not only because the price is lower, but especially because we are in this range for a very long time, this is what you should look about

the more we stay in this range the more this floor will be consolidated, and the more hard will be to decline under it

a slowly rise like this could permit to build solid floors while we rise, instead when you have a tremendous pump like that of 1200, you should ALWAYS foresee a crash with an equal power
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July 01, 2015, 06:05:42 AM
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As the current market rates fluctuates daily but as on weekends they fluctuates about 15dollars  so you can flip your bitcoins at weekends.
And, no holding your bitcoins for long is not a very good idea, you can trade them for other altcoins and then trade them back to btc after their incereased value, basically buy low and sell high.

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July 02, 2015, 08:29:46 PM
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Yes because the price sky rockets from time to time.
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July 02, 2015, 09:09:05 PM
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Yes because the price sky rockets from time to time.
Yes like yesterday but it soon followed a down trend after it, and the op isn't asking about these short term jumps. Over the long term it primarily depends on adoption . Its hard to say it will be a safe investment, but its pure speculation based on the fact that bitcoin is the best answer towards decentralization and there fore should be the likely outcome. But if the adoption doesn't happen and it doesn't come to that phase, it will mean it won't rise in price and could over time fall down to around 100.
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July 02, 2015, 09:13:32 PM
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i think so risky if you Holding bitcoin a long time  , may be just 3-6 Month it's good . but , if you already got cheap or profit you should sell your bitcoin , and waiting dump again .

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July 03, 2015, 08:37:35 AM
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No doubt, hold bitcoin start from now is a good invest way!

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July 03, 2015, 01:57:28 PM
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However, isn't the value of bitcoin almost always going to go up so its best to hold it? 

In theory it should being a deflationary currency, but it all depends on supply and demand.

Quote
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? 

Again, in theory the halving should push the value up but that also depends on what the demand for coins is like.
Quote
Could bitcoin go all the way to 0 soon? 

It could go to zero or less than $100 but probably wont anytime soon and hopefully never.


Quote
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?

The price is very low and bitcoin hasn't reached even a small percentage of it's potential so the potential for it to rise dramatically or go back to around $1000 is very good in my opinion though we may need patience.
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July 03, 2015, 04:36:42 PM
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most definitely, yes. compared to other investments bitcoin has way more room for great profits. but the only thing is that most people can't hold their coins for long. as soon as they see the price increased with 50%, they will sell.
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July 03, 2015, 08:42:20 PM
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Put some in coldstorage. But for Bitcoin to succeed I also think you should use them, to buy, trade etc.
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July 03, 2015, 08:48:45 PM
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Put some in coldstorage. But for Bitcoin to succeed I also think you should use them, to buy, trade etc.
Holding bitcoin for long term is good but you need to have some eye on board also because its giving good profit on short term basis also as happen few days back some bump and now again prices going on regular rate
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July 03, 2015, 10:03:39 PM
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Allocate some to buy and spend. If they all just sit there doing nothing then I'm not so sure it'll get anywhere.

The philosophy of holding has taken something of a battering over the last 18 or so months. If you believe in BTC as a concept then a significant rise needs to happen for it to take hold. At the same time you need to keep your wits about you for potential death spirals. It's far from being in the bag yet.

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July 03, 2015, 10:38:18 PM
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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?

Holding bitcoin is like holding other investments such as stocks or gold. Is holding stocks always good? Apple was at $200 in 2010, it was $600 in 2014 before the stock split. There were ups and downs during those 4 years, it also peaked at $670 in 2012. Knowing when to buy and when to hold is whats makes it "good".

Bitcoin peaked at over $1000 and now it is around $250. If you think bitcoin has the potential to pass $1000 again, isn't buying at $400 and $300 still very "good"?
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July 03, 2015, 11:13:57 PM
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It should be a good investment, and I am fairly confident it will.

But nobody can truly predict the market and know what will happen next with the price, and Bitcoin is know to be volatile.

So yes, Bitcoin is a solid investment, but don't put your whole net worth into it.
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July 04, 2015, 01:01:17 PM
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It's most likely a good investment. You just have to compare pros and cons. The main reason for buying should be the fact that it is a great technology and even its haters confirm it. The world is just not ready for it yet. Also, it has reached a confirmed bottom in January and bounced back to somewhat stable price of $200. Most predictions say it will keep going up.

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July 06, 2015, 07:31:04 PM
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I agree with you, holding btc for a long time might make you a huge amount of profit instantly if it goes up. But I wouldn't personally do that myself because I don't depend on miracles like that anymore. The time has passed, this ain't no 2 years go. The price went up yesterday but only by $10-15 dollars. Waiting for bitcoin to pass $1000 again is just ludacris to me. But I believe there's still a chance for btc to increase in it's value as more people use it, and look at Greece, for ex. online PayPal has been banned, this is a good chance for btc.

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July 06, 2015, 09:15:07 PM
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Holding will likely make you the most money in the long term but obviously nothing in the short term. I believe in 2-5 years bitcoin will be worth multiples of what it is now so I think it'd be wise to save, but in the meantime you could try trading for profit. Risky to do this though.
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July 06, 2015, 10:02:53 PM
 #18

It's only a good way if you are buying hundreds of millions of dollars worth of BTC and holding it so that you can control enough market share to set the price, rather than the fucking assholes who are dumping BTC and keeping the price artificially, bullshit low.

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July 06, 2015, 10:26:40 PM
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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?

Which gambling sites are you referring to? They all have abandoned the idea. The gambling sites which are truly licensed i mean.
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July 06, 2015, 11:08:20 PM
 #20

I've been researching it and I do think it's a good long-term investment strategy, especially at the current levels.  I bought my first Bitcoins today.  I've been trading stocks/options for awhile but I'm starting to invest in Bitcoins.  Now that Wall Street has validated the existence of Bitcoins with the launch of a Bitcoin ETF, I think more people/companies will validate and use it.

The volume of buying/selling is continuing to increase every month.  Yes, there will be price fluctuations with the prices (but so does stocks), I think Bitcoins is a great long-term investment.  Grin
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