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Author Topic: Why You Should Never Sell Your Bitcoins Ever  (Read 269256 times)
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July 20, 2015, 08:06:00 AM
 #21

So the discussion should be about when to spend BTC and not when to sell it for fiat. Right?

the answer is easy, everyone should wait untill fully adoption, to spend it everywhere, for now you can spend it only in the shop that accept it, and if you need somethign that isn't in those shop, then you use you other money called fiat....
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July 20, 2015, 08:07:33 AM
 #22

I think the the fact is opposite, we should buy and sell bitcoin always so that we can never loss even profits/

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July 20, 2015, 08:29:01 AM
 #23

OP, I understand your point, however, you must understand that there are necessary things that you cannot buy with Bitcoins yet.
We need food and shelter, and unfortunately that is paid for in cash for the moment.
So, we need both, mass adoption from consumers AND businesses.
If businesses do not accept Bitcoin then it wont really be worth much to that regard.

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July 20, 2015, 09:11:16 AM
 #24

OP, I understand your point, however, you must understand that there are necessary things that you cannot buy with Bitcoins yet.
We need food and shelter, and unfortunately that is paid for in cash for the moment.
So, we need both, mass adoption from consumers AND businesses.
If businesses do not accept Bitcoin then it wont really be worth much to that regard.
This is correct. And also bitcoin purpose is constantly changing. For now Bitcoin is still considered an investment asset and speculative tool.
In the future with the inevitable mass adoption approaching it will evolve to more like standard currency and payment method - the only question is how much it will 1 BTC cost then.


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Somekindabitcoin
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July 20, 2015, 09:16:31 AM
 #25

It would be nice if everyone took Bitcoin as a normal currency, not just Bitcoin to Dollar and Dollar to Bitcoin.
When I'm doing some stuff for people here, like coding or whatever I just say "Give me 0.2 BTC", I don't care about price when doing this. But this won't never happen, sadly Sad
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July 20, 2015, 09:17:07 AM
 #26

OP, I understand your point, however, you must understand that there are necessary things that you cannot buy with Bitcoins yet.
We need food and shelter, and unfortunately that is paid for in cash for the moment.
So, we need both, mass adoption from consumers AND businesses.
If businesses do not accept Bitcoin then it wont really be worth much to that regard.
This is correct. And also bitcoin purpose is constantly changing. For now Bitcoin is still considered an investment asset and speculative tool.
In the future with the inevitable mass adoption approaching it will evolve to more like standard currency and payment method - the only question is how much it will 1 BTC cost then.

The other day I paid a coffee 420000 Satoshis
Cheesy
or 0.0042  btc

It was easy to do that.

If one day BTC price will go up I probably would have paid that coffee a lot.
But that's ok. RIght now is already possible to use it. We know it. It's not that easy of course.

Anyway, I decided to hold a good amount and to use a tiny bit as pocket money.

It's a nice feeling to have abitcoin coffee.

You guys should try...

You only live once, but if you do it right, once is enough
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July 20, 2015, 09:22:46 AM
 #27

If anything at all I want to spend my coins, not sell them, I am not a coin collector. I bought some pizza and it tasted extra good, just like the coffee of acquafredda Smiley

If the price goes up, it would mean I can spend even more bitcoin and buy more stuff, hooray for consumerism!

it is the dawn of bitcoin, still, so the most people can do is hold and hope or if they are in it for a quick buck buy and sell to make some more.

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July 20, 2015, 09:29:04 AM
 #28

If anything at all I want to spend my coins, not sell them, I am not a coin collector. I bought some pizza and it tasted extra good, just like the coffee of acquafredda Smiley

If the price goes up, it would mean I can spend even more bitcoin and buy more stuff, hooray for consumerism!

it is the dawn of bitcoin, still, so the most people can do is hold and hope or if they are in it for a quick buck buy and sell to make some more.

I hope your Bitcoin pizza tasted good! Smiley
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July 20, 2015, 09:31:30 AM
 #29

It would be nice if everyone took Bitcoin as a normal currency, not just Bitcoin to Dollar and Dollar to Bitcoin.
When I'm doing some stuff for people here, like coding or whatever I just say "Give me 0.2 BTC", I don't care about price when doing this. But this won't never happen, sadly Sad

they simply see 0.2btc as $58 and not 0.2btc as 0.2btc, you can't blame people for that. if they really start to appreciate bitcoin, then they will start seeing bitcoin differently.
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July 20, 2015, 10:02:31 AM
 #30


fully agree with OP.  the heading is a little bit confusing, hence the debate.  the point is if (when) BTC goes up in value then at the same time it is more likely to become a common payment method.  So no don't sell BTC for fiat, use BTC directly to buy goods  Smiley

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July 20, 2015, 10:09:37 AM
 #31


fully agree with OP.  the heading is a little bit confusing, hence the debate.  the point is if (when) BTC goes up in value then at the same time it is more likely to become a common payment method.  So no don't sell BTC for fiat, use BTC directly to buy goods  Smiley

What if I sell just $5 and get fiat so I can buy a cake? I will still have my BTC and a cake.
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July 20, 2015, 10:12:14 AM
 #32


fully agree with OP.  the heading is a little bit confusing, hence the debate.  the point is if (when) BTC goes up in value then at the same time it is more likely to become a common payment method.  So no don't sell BTC for fiat, use BTC directly to buy goods  Smiley

What if I sell just $5 and get fiat so I can buy a cake? I will still have my BTC and a cake.

But what if that BTC you converted would be worth 10 cakes in a year? Than it would ve been better to use your fiat which would buy you only 99/100th of a cake next year (assuming 1% inflation ;P).
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July 20, 2015, 10:13:37 AM
 #33

If bitcoin reaches $10,000 it will have to be because the fiat currencies of the world are tumbling to worthlessness via a hyperinflation type scenario and bitcoin is the safe haven, which if you know anything about the current monetary systems of the world, you know this is inevitable. (there have been 3800 fiat currencies throughout history and EVERY SINGLE LAST ONE has crashed to worthlessness; a value of zero) Why would you then sell all of your sound money (Bitcoin) for a bunch of fiat money that is inevitably becoming worthless? I don't understand the logic in doing that.



It wont. 10k isn't a ridiculous number but it wont take hyperinflation to reach that level. IF the demand for bitcoin is very great and has been adopted by the mainstream then 10k would be a reasonable price in my opinion. I agree with you that I would rather spend my coins but when people say they will cash out likely what they mean is they will start spending it, whether that be to purchase things or trade it for fiat cash.
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July 20, 2015, 10:21:42 AM
 #34


fully agree with OP.  the heading is a little bit confusing, hence the debate.  the point is if (when) BTC goes up in value then at the same time it is more likely to become a common payment method.  So no don't sell BTC for fiat, use BTC directly to buy goods  Smiley

What if I sell just $5 and get fiat so I can buy a cake? I will still have my BTC and a cake.

But what if that BTC you converted would be worth 10 cakes in a year? Than it would ve been better to use your fiat which would buy you only 99/100th of a cake next year (assuming 1% inflation ;P).
There is always of possibility that BTC will reach price in the future. And even if BTC will cost $1000 next year some people would wait for it to reach even more.
This game is not about waiting forever for THE BEST BTC price. You can't be perfect. If you can wait and not spent your coins - good for you, but try to use it before you die at least.


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Somekindabitcoin
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July 20, 2015, 10:34:14 AM
 #35


fully agree with OP.  the heading is a little bit confusing, hence the debate.  the point is if (when) BTC goes up in value then at the same time it is more likely to become a common payment method.  So no don't sell BTC for fiat, use BTC directly to buy goods  Smiley

What if I sell just $5 and get fiat so I can buy a cake? I will still have my BTC and a cake.

But what if that BTC you converted would be worth 10 cakes in a year? Than it would ve been better to use your fiat which would buy you only 99/100th of a cake next year (assuming 1% inflation ;P).

But if I buy a cake with BTC, and if BTC would be worth 10 times I still paid the same amount. The point is to keep majority of BTC.
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July 20, 2015, 10:35:40 AM
 #36

try to use it before you die at least.

Nice comment... man.
You should hold Bitcoin till you think that you have made a very nice profit and then sell some of these.
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July 20, 2015, 10:42:20 AM
 #37


fully agree with OP.  the heading is a little bit confusing, hence the debate.  the point is if (when) BTC goes up in value then at the same time it is more likely to become a common payment method.  So no don't sell BTC for fiat, use BTC directly to buy goods  Smiley

What if I sell just $5 and get fiat so I can buy a cake? I will still have my BTC and a cake.

But what if that BTC you converted would be worth 10 cakes in a year? Than it would ve been better to use your fiat which would buy you only 99/100th of a cake next year (assuming 1% inflation ;P).
There is always of possibility that BTC will reach price in the future. And even if BTC will cost $1000 next year some people would wait for it to reach even more.
This game is not about waiting forever for THE BEST BTC price. You can't be perfect. If you can wait and not spent your coins - good for you, but try to use it before you die at least.

exactly it's about a prefixed target, that you set, like 1k, 10k, ecc, but usually this same target coincide with an amount of money that make you rich

and if you have a very low amount of bitcoin your waiting, will be very long.. also add the fact that the increase in value of bitcoin isn't 100% guaranteed, and you get that people will dump early

But if I buy a cake with BTC, and if BTC would be worth 10 times I still paid the same amount. The point is to keep majority of BTC.

you will lose money because those $5 that you converted would be worth $50, like he said, so 90 loss for you
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July 20, 2015, 10:49:12 AM
 #38


fully agree with OP.  the heading is a little bit confusing, hence the debate.  the point is if (when) BTC goes up in value then at the same time it is more likely to become a common payment method.  So no don't sell BTC for fiat, use BTC directly to buy goods  Smiley

What if I sell just $5 and get fiat so I can buy a cake? I will still have my BTC and a cake.

But what if that BTC you converted would be worth 10 cakes in a year? Than it would ve been better to use your fiat which would buy you only 99/100th of a cake next year (assuming 1% inflation ;P).

But if I buy a cake with BTC, and if BTC would be worth 10 times I still paid the same amount. The point is to keep majority of BTC.

Can I suggest then to rebuy any btc you spend immediately? This way you also negate the transfer of bitcoin to fiat by the vendor and you dont lose out on long term potential. (probably pool up per week what you spend and then rebuy).
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July 20, 2015, 11:34:49 AM
 #39

If everyone thought like this, there would not be any coins in circulation and the merchants would stop accepting it. We could say, it's value is inherent to it's use, but people still trade it for it's speculative value.
I make sure to hoard a little to gain advantage of it's store of value quality and I spend some to give it the currency quality.

I must be honest, I do not buy very expensive items with it, in case it goes up in value a lot and I kick myself for not hoarding it more. I am more attracted to it's store of value quality due to my current circumstances. < A very unstable economic future for my country, and the possibility of mass emigration to another country, when things turn violent >

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July 20, 2015, 01:52:49 PM
 #40

It would be nice if everyone took Bitcoin as a normal currency, not just Bitcoin to Dollar and Dollar to Bitcoin.
When I'm doing some stuff for people here, like coding or whatever I just say "Give me 0.2 BTC", I don't care about price when doing this. But this won't never happen, sadly Sad

they simply see 0.2btc as $58 and not 0.2btc as 0.2btc, you can't blame people for that. if they really start to appreciate bitcoin, then they will start seeing bitcoin differently.

Of course fiat currencies are perceived as a reference point in valuation. While this is stupid, because fiat fiat currencies have guaranteed devaluation built in, a shift of this reference point to BTC will take a long time. Essential for this shift is the number of prices that quote BTC only, especially when it comes to convenience goods. So it's a good start to quote goods and services in BTC only. At least within this forum, quoting prices in fiat should be outlawed. Wink

I'm quite hopeful that Bitcoin might become an universal reference value some day. But to make this happen, we need to get more businesses on board, preferably those, who accept Bitcoin directly without a payment processor.

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