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

[HeroCat]

Holding BTC a long time to make money is not good idea, better try to buy some altcoins at low price and then sale them at higher price, and change back to BTC 

[1Referee]

Holding BTC a long time to make money is not good idea, better try to buy some altcoins at low price and then sale them at higher price, and change back to BTC 

Holding Bitcoin for the long term makes perfectly sense as we're heading towards lower block rewards in 2016. Your advice to people to buy altcoins is horrible.

[aakashsangwan]

Holding BTC a long time to make money is not good idea, better try to buy some altcoins at low price and then sale them at higher price, and change back to BTC 

But altcoins also burns our money very easily.
According to me buying altcoins is like gambling with bitcoins, which i don't prefer because at the end in gambling only the house wins.
Trading needs research before going into it, it is not that simple that buy low and sell high.

[boliu]

all depends if you believe BTC is going to go up or not, same with stocks.  If you believe in the stock, buy and hold. if not, sell and move on to another. 

[Shinpako09]

For me, yes especially if xt will gone forever and the government will adopt the crypto currency.

[aakashsangwan]

For me, yes especially if xt will gone forever and the government will adopt the crypto currency.

There is no kyc/aml regulations in creating cryptocurrency wallet addresses, so there is no way for government to track which address is of whom.
So i don't think that they will adopt bitcoins or any other cryptocurrency that much easily.

[boliu]

For me, yes especially if xt will gone forever and the government will adopt the crypto currency.

we all are hoping.

[DARKCHANGE]

Depends on how much you're risking..

[eternalgloom]

Yeah, I'd say it's way less risky now than it was when the price was over $1000, and if you notice the long term trend, the price is still going up.
Besides, it was inevitable that the bubble popped when it was at $1000.

[GannickusX]

History has shown that yes and no, there is no way to know what bitcoin will be in a long time, you can´t know even at short times, bitcoin is extremely volatile and anyone who claims to know what the price will be in x time is lying, specially with altcoins that are even more volatile.

What you said is correct. I think instead of holding btc for long time buy and sell when you make a some decent profit is a good strategy. You can do this process to reduce your losses. If some one follow your strategy and if they hold btc from 1000 + until now means they are in a big loss so when you see some sudden fall in price it is better to sell and take that small loss and wait for the next entry.

Holding for so long is honestly really stupid, you should sell if the price drops more than  20% because otherwise you expose yourself to really big losses and as we can see bitcoin price doesnt look like it will jump to 1k any time soon

[ph.amracyshop]

I don't think that is a good idea.

[Rico Suave]

Holding BTC a long time to make money is not good idea, better try to buy some altcoins at low price and then sale them at higher price, and change back to BTC 

Um, why would it not be a good idea to just do this with bitcoins? You've got more chance of loosing your  money investing in crapcoins. There is great potential for profit just by holding bitcoins long term though you could sell them and buy back with every rise and fall.

[Denker]

Bitcoin and it's underlying Blockchain will have so many different use cases we are not able to think about right now.
Just think about the internet in 1994/95.No one had any idea about social medias like facebook, twitter or youtube. No one was thinking video on demand, streaming sites in general and many many more.

Today we "only" think about property/land recording, foreign remittances, online payments, cross border loaning just to name a few use cases.There are way more.

So yes it will be worth to wait and have patience for at least 5-10 years.In that time we will see many ups and downs.
But Bitcoin and Blockchain can and will have a very huge impact.The question is just how. And that we don't know.

[GannickusX]

Bitcoin and it's underlying Blockchain will have so many different use cases we are not able to think about right now.
Just think about the internet in 1994/95.No one had any idea about social medias like facebook, twitter or youtube. No one was thinking video on demand, streaming sites in general and many many more.

Today we "only" think about property/land recording, foreign remittances, online payments, cross border loaning just to name a few use cases.There are way more.

So yes it will be worth to wait and have patience for at least 5-10 years.In that time we will see many ups and downs.
But Bitcoin and Blockchain can and will have a very huge impact.The question is just how. And that we don't know.

Applying the same logic you could also come to the conclusion that in the future (5-10 years) something better than the blockchain would appear thus making bitcoin obsolete

[worhiper_-_]

If you have some of the greatest risk tolerance on earth, putting a large sum of money in bitcoin is a bet you can make. But even the biggest known bitcoin investors, the Winklevoss twins, have started diversifying their investments in the space. Creating a bitcoin exchange and all.

[oxiyusuf]

Bitcoin and it's underlying Blockchain will have so many different use cases we are not able to think about right now.
Just think about the internet in 1994/95.No one had any idea about social medias like facebook, twitter or youtube. No one was thinking video on demand, streaming sites in general and many many more.

Today we "only" think about property/land recording, foreign remittances, online payments, cross border loaning just to name a few use cases.There are way more.

So yes it will be worth to wait and have patience for at least 5-10 years.In that time we will see many ups and downs.
But Bitcoin and Blockchain can and will have a very huge impact.The question is just how. And that we don't know.

Applying the same logic you could also come to the conclusion that in the future (5-10 years) something better than the blockchain would appear thus making bitcoin obsolete

I think the system of bitcoin itself will be on hold until the coin is in use by all people. although there will be changes in the future

[GannickusX]

Holding BTC a long time to make money is not good idea, better try to buy some altcoins at low price and then sale them at higher price, and change back to BTC 

Holding Bitcoin for the long term makes perfectly sense as we're heading towards lower block rewards in 2016. Your advice to people to buy altcoins is horrible.

Dont be so sure, after litecoin halving the price didnt increase and it actually went down so nothing is guaranteed and who knows if until then bitcoin wont be dead

[shadows123]

dont think so, bitcoin is risk investment

[Yoga4]

Better off buying gold or investing in stocks. If you have like $500-$1000 to just throw away, why not just throw Bitcoin in some cold wallet storage and hope for the best. I truthfully think you will be very disappointed though. More regulations, startup businesses, and worldwide knowledge about bitcoin has grown significantly. Its great to witness, but in part I believe this has caused the price to become more stable. Some people rather have a stable Bitcoin price, but if you are looking for that pipe dream of turning your investment into riches I think those days are over for good with Bitcoin.

[Xialla]

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.