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

[boliu]

firstly, it is not long time good way to make money - it is long-term investment. for me, it is more or less like holding shares of some startup..

anyway, I like it and I'm basically holder of some amount. I didn't sell it on 800 or 200, I don't care at all about some price swings or hacks (I have encrypted paper wallets).

my advice? yes..buy, print, hold. thanks me later.

Yes, but and hold, but don't put all your saving into BTC, not all eggs in one basket.

[Blawpaw]

Holding Bitcoin for a long time could be a very good investment but i can also be a shoot in the dark. No one knows if 10 years from now Bitcoin will still be around. So do your own research and figure it out!

[GannickusX]

Holding Bitcoin for a long time could be a very good investment but i can also be a shoot in the dark. No one knows if 10 years from now Bitcoin will still be around. So do your own research and figure it out!

Well thats a really long time and you can always check each day to keep track of the price and if you see its going down too fast or too much you can always sell, i wouldnt hold anything if its price goes down like 20-30% specially if it happens slowly

[steveds]

honestly at this point in time probably not


it really won't ever hit the 1200 mark and won't ever dip below 200


buy low sell high so i guess you could profit like 10$ per coin and if you have 50 coins thats 500$ or 180k a year


but to get 50 coins you need 11 grand.

[wearehatetherules]

Bitcoin price going up and down. but i think that not make bitcoin will have a good price on future, bitcoin stil have the boss for control the price.

[viking02]

Got other questions on this.  Were there a lot of people that bought bitcoin when the price was around 1000?  Or did most know well its eventually going to go down so buying it at 1k per bitcoin is not worth it?  Also what happened when they saw it went up to 1100?  Did they say okay now i will buy it since i didn't bought it at 1000?  But once its 1200... were there ppl that said its only going to go up?


I had considered buying bitcoin when it was around 600.  However the only purpose was to use it to move gambling funds around and thats all and i did not want any fluctuation risk etc.  That was when i didnt know much about bitcoin but knew it was good way to get funds to sportsbook online.


So basically anyone that bought bitcoin when it was at least $1000... would all of you say they will never recoup their losses from then?  Are there anyone that still kept their bitcoin bought from when it was 1k plus... till right now?



Well it has dipped below 200 a few times but then went back up.  However... would you say 200 is the perfect price for a bitcoin where its hard to lose because its really hard for it to stay below 200?


Also is bitcoin being stable pretty bad for people that are trading it ?

[Luqman]

I think yes/or..based on the situation that I took everyday, it is what decision I made..

[CPNpr]

I don't think so. Bank's will come with their own Bitcoin replacement with a much larger acceptance. They have learned a lot by spending not much will copy and do it better, sooner or later Bitcoin will become history. Do business now and profit from the up and downs just get ride of before it become worthless.

[afriezalie]

It's depend on your bitcoin. If you only hold 1 or 2 bitcoin for a long time, it's not worth even bitcoin go to $1000 because you just spend your time. If you hold much bitcoin, it's maybe a good choice to make money depend on market.

[allyouracid]

This is just my opinion.
If you have a bit of cash YOU DO NOT NEED for anything putting it into BTC has a good chance for the long term. it's in the Early Adopter phase now, but if it gets to the next stage then zoom, Yes it will go up big time.

If I apply what I have learned during my studies in marketing lessons to Bitcoin, I can pretty much tell you that we're way beyond the early adopters phase, already. Early adopters was the pizza for 10k BTC, for example (ok, those might have been the innovators, though).

We're somewhere between early and late majority, now.

[Lenore]

you would think it would be.  However if the price never does go up again there will be no gain.  And what if it actually goes even lower.  People will buy in maybe to never make a profit.  If that is what you are looking for.

I have to say this would depend on your reason and who you ask.

[GannickusX]

Bitcoin is not really having a lot of activity recently and it hasnt been as volatile as before so short term investments are definitely better, you will make more profit this way, if you know what you are doing. I guess you could try a long term investment on some altcoin that has potential but still, i don´t really see the point.

[Leinaded]

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?

The problem here imho is that you seem to be asking for an oracle to foresee how the btc price is going to behave in the future. Sorry to bring bad news but no one is able to do that reliably and if they make a mistake you'll regret having believed what a stranger told you. There's no holding for the long term or short term, there is entering a trade (adquiring cryptocurrency) at the right time and exit a trade (sell it) at an equal right time. What I'd do in your place is learning from a good trading course. They have gotten really affordable nowadays and will help you a lot to read how a price can behave in the future and make good reads from the market. Is harder than blindly follow a stranger opinion but is more rewarding and reliable. A good way to start learning are the courses from Steve Nison.

[futurebit640]

I think yes/or..based on the situation that I took everyday, it is what decision I made..

I think no reason is simple bitcoin prices are not growing much since last couple of years so if hold coins with you then you may not make more profits from them instead sell it when ever you make some decent profits from them and again you will get an opportunity to buy at lesser price.

[Amph]

you have not much choice for now, i mean if you want to sell at this price and you're struggling to earn even one bitcoin, it would look a bit stupid

it would be better to find a job directly, therefore the only choice is to hold and hope for a better price, we are somehow forced...

[Mickeyb]

Yes, majority on this forum believe that holding bitcoins long term will bring you very nice gains. I believe so to, that's why I have a percentage of my bitcoins in the cold storage and I will not touch those for a while.

Bitcoin is a technology that's just in its infancy. Bitcoin needs time. It's actually quite hard for ordinary people to wrap their heads around to trust some computer code with their finances. We have managed to do so until now, but ordinary people will need a bit more to start believing like we are.

[randy8777]

yeah. most people (me included) thinks we'll see the price advance to much highers levels in the comming years. those who aren't holding will surely regret.

[Q7]

Generally that's part of what you call trading. In reality you can never know when is the best time to sell or when is the best time to buy. Same goes if you decide to hang on to your stash and missed the opportunity. Anyway if you develop the right strategy you can actually grow your coins quite fast.

[Ceizer54]

I agree with you mate.I also have the same opinion of holding butcoin as long as you can for great profit.
As per the history of bitcoin,it's the most volatile and even crossed $1000 in just two months then bounced back..So you never know,anything can happen with bitcoin..it can sky rocket any time  ..so we all should hold some bitcoins atleast

[bitgolden]

The rationality of holding has taken something of a battering in the course of the last 20 or somewhere in the vicinity months. On the chance that you have faith in BTC as an idea then a critical ascent needs to happen for it to grab and hold. In the meantime you have to keep your minds about you for potential demise spirals. It's a long way from being taken care of yet.