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Batang Hambog
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August 05, 2017, 03:26:30 PM |
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Reading the responses to the recent topic titled, "I would sell all my bitcoins if…." has left me concerned.
The kinds of responses on that thread reveal a deep misunderstanding of bitcoin and the current monetary system in many of those who are speculating. Let's consider the scenario in which bitcoin reaches $1000 or let's say $10,000 per bitcoin. Many have said they will cash out if bitcoin reaches this point. Why??
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.
If bitcoin ever reaches $10,000 per bitcoin, you will NEVER see me selling for fiat paper money. You may however see me having a shopping spree at Overstock.com or TigerDirect.com or NewEgg.com! I will be buying things I want with my bitcoin profits DIRECTLY WITH BITCOIN, not selling my bitcoin for paper fiat. Hopefully by then there will be many more options, perhaps even Amazon.com will be accepting bitcoin for goods and I can have my shopping spree there.
Point being, selling bitcoin for dollars seems counterproductive. Why convert your paper fiat currency into sound value storing superior bitcoin, only to sell all of your superior bitcoin back for worthless antiquated fiat currency again? Why not just spend the bitcoin itself to buy what you want instead of taking a loss by converting back into dollars which will inflate away eventually anyway?
It is not that you'll never sell your bitcoin. But rather don't tell it all! Because bitcoin may rise and can make you rich. You doesn't need to sell all your bitcoin but you should be thrifty for the growth of bitcoin price will soom arise. |
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Remember that Bitcoin is still beta software. Don't put all of your money into BTC!
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micher143
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August 05, 2017, 03:59:39 PM |
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This is a fair enough argument but some goods and services you can only pay for via fiat. In fact most goods/services can only be paid for by fiat or credit. Inflation is going to be a thing at all if you are just selling the amount of BTC you need to make a purchase in fiat. I am guessing you mean exchanging for large amounts of fiat that you wouldn't be using in a few days time.
If you will used bitcoin on buying thing it is much better if you will just hold and not sell it for more earning and for future development of the price and value of bitcoin. But in terms of trading selling of bitcoin is quite vital for you to earn and have profit because the basic principle of trading is to buy when it is low and sell when it is high. It is just a matter of decision making and your goals. Also make sure that you will always look selling as a form of trading so you could possibly earn. |
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BTCbengi
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August 05, 2017, 04:20:33 PM |
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Reading the responses to the recent topic titled, "I would sell all my bitcoins if…." has left me concerned.
The kinds of responses on that thread reveal a deep misunderstanding of bitcoin and the current monetary system in many of those who are speculating. Let's consider the scenario in which bitcoin reaches $1000 or let's say $10,000 per bitcoin. Many have said they will cash out if bitcoin reaches this point. Why??
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.
If bitcoin ever reaches $10,000 per bitcoin, you will NEVER see me selling for fiat paper money. You may however see me having a shopping spree at Overstock.com or TigerDirect.com or NewEgg.com! I will be buying things I want with my bitcoin profits DIRECTLY WITH BITCOIN, not selling my bitcoin for paper fiat. Hopefully by then there will be many more options, perhaps even Amazon.com will be accepting bitcoin for goods and I can have my shopping spree there.
Point being, selling bitcoin for dollars seems counterproductive. Why convert your paper fiat currency into sound value storing superior bitcoin, only to sell all of your superior bitcoin back for worthless antiquated fiat currency again? Why not just spend the bitcoin itself to buy what you want instead of taking a loss by converting back into dollars which will inflate away eventually anyway?
I think Bitcoin's $ 10,000 is never going to happen. The truth is I'm still keeping my Bitcoin and I'm waiting for a proper price to sell them. It could be $ 4000 or $ 5000. But now is not the time to sell it because Bitcoin is not really stable |
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Bagaji
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August 05, 2017, 08:10:47 PM |
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Well some people sell not just because they are afraid of lost in the value of Bitcoin but because bitcoin is their major source of income so they have to sell and take care of their financial obligations. Although people like myself will never sell pending when the market value of Bitcoin increases to maybe $10000.
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Potato Chips
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August 05, 2017, 08:50:39 PM |
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Reading the responses to the recent topic titled, "I would sell all my bitcoins if…." has left me concerned.
The kinds of responses on that thread reveal a deep misunderstanding of bitcoin and the current monetary system in many of those who are speculating. Let's consider the scenario in which bitcoin reaches $1000 or let's say $10,000 per bitcoin. Many have said they will cash out if bitcoin reaches this point. Why??
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.
If bitcoin ever reaches $10,000 per bitcoin, you will NEVER see me selling for fiat paper money. You may however see me having a shopping spree at Overstock.com or TigerDirect.com or NewEgg.com! I will be buying things I want with my bitcoin profits DIRECTLY WITH BITCOIN, not selling my bitcoin for paper fiat. Hopefully by then there will be many more options, perhaps even Amazon.com will be accepting bitcoin for goods and I can have my shopping spree there.
Point being, selling bitcoin for dollars seems counterproductive. Why convert your paper fiat currency into sound value storing superior bitcoin, only to sell all of your superior bitcoin back for worthless antiquated fiat currency again? Why not just spend the bitcoin itself to buy what you want instead of taking a loss by converting back into dollars which will inflate away eventually anyway?
I think Bitcoin's $ 10,000 is never going to happen. The truth is I'm still keeping my Bitcoin and I'm waiting for a proper price to sell them. It could be $ 4000 or $ 5000. But now is not the time to sell it because Bitcoin is not really stable Thats exactly the same mindset people had in bitcoin on its early days. they probably didn't even predicted that the price will rose to $3000+ even $5000 is close in my opinion. we have reached $2000 and $3000 this year even though theres still half a year. if things continuous to go well $5000 might happen in two years or so or even sooner. About the stability again, isn't it the one that allows bitcoin to rise? everyone might think its a disadvantage but it can actually be an advantage. |
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GoodLuck2
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August 05, 2017, 09:16:50 PM |
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Reading the responses to the recent topic titled, "I would sell all my bitcoins if…." has left me concerned.
The kinds of responses on that thread reveal a deep misunderstanding of bitcoin and the current monetary system in many of those who are speculating. Let's consider the scenario in which bitcoin reaches $1000 or let's say $10,000 per bitcoin. Many have said they will cash out if bitcoin reaches this point. Why??
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.
If bitcoin ever reaches $10,000 per bitcoin, you will NEVER see me selling for fiat paper money. You may however see me having a shopping spree at Overstock.com or TigerDirect.com or NewEgg.com! I will be buying things I want with my bitcoin profits DIRECTLY WITH BITCOIN, not selling my bitcoin for paper fiat. Hopefully by then there will be many more options, perhaps even Amazon.com will be accepting bitcoin for goods and I can have my shopping spree there.
Point being, selling bitcoin for dollars seems counterproductive. Why convert your paper fiat currency into sound value storing superior bitcoin, only to sell all of your superior bitcoin back for worthless antiquated fiat currency again? Why not just spend the bitcoin itself to buy what you want instead of taking a loss by converting back into dollars which will inflate away eventually anyway?
I think Bitcoin's $ 10,000 is never going to happen. The truth is I'm still keeping my Bitcoin and I'm waiting for a proper price to sell them. It could be $ 4000 or $ 5000. But now is not the time to sell it because Bitcoin is not really stable Yes that time is not right to sell their bitcoin because its price is not really stable so when we are fully inform the bitcoin that its price is goes to our aims and its price touch to moon and also care to this point it will not goes to again low price then we take a decision that how we will doing to their bitcoin or which will be better sell it or save it to more time. |
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hurain
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August 05, 2017, 10:54:46 PM
Last edit: August 09, 2017, 04:52:19 AM by hurain |
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Reading the responses to the recent topic titled, "I would sell all my bitcoins if…." has left me concerned.
The kinds of responses on that thread reveal a deep misunderstanding of bitcoin and the current monetary system in many of those who are speculating. Let's consider the scenario in which bitcoin reaches $1000 or let's say $10,000 per bitcoin. Many have said they will cash out if bitcoin reaches this point. Why??
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.
If bitcoin ever reaches $10,000 per bitcoin, you will NEVER see me selling for fiat paper money. You may however see me having a shopping spree at Overstock.com or TigerDirect.com or NewEgg.com! I will be buying things I want with my bitcoin profits DIRECTLY WITH BITCOIN, not selling my bitcoin for paper fiat. Hopefully by then there will be many more options, perhaps even Amazon.com will be accepting bitcoin for goods and I can have my shopping spree there.
Point being, selling bitcoin for dollars seems counterproductive. Why convert your paper fiat currency into sound value storing superior bitcoin, only to sell all of your superior bitcoin back for worthless antiquated fiat currency again? Why not just spend the bitcoin itself to buy what you want instead of taking a loss by converting back into dollars which will inflate away eventually anyway?
I think Bitcoin's $ 10,000 is never going to happen. The truth is I'm still keeping my Bitcoin and I'm waiting for a proper price to sell them. It could be $ 4000 or $ 5000. But now is not the time to sell it because Bitcoin is not really stable i think this is even possible but in fact no one know when will happen this. although we are reaching to half of that price, but i think that it will reach to 10000$ in next few years, but if bitcoin price continue to increase and people continue investing money in bitcoin and and making it more reliable and trusted. |
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Sled
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August 06, 2017, 07:58:29 AM |
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Reading the responses to the recent topic titled, "I would sell all my bitcoins if…." has left me concerned.
The kinds of responses on that thread reveal a deep misunderstanding of bitcoin and the current monetary system in many of those who are speculating. Let's consider the scenario in which bitcoin reaches $1000 or let's say $10,000 per bitcoin. Many have said they will cash out if bitcoin reaches this point. Why??
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.
If bitcoin ever reaches $10,000 per bitcoin, you will NEVER see me selling for fiat paper money. You may however see me having a shopping spree at Overstock.com or TigerDirect.com or NewEgg.com! I will be buying things I want with my bitcoin profits DIRECTLY WITH BITCOIN, not selling my bitcoin for paper fiat. Hopefully by then there will be many more options, perhaps even Amazon.com will be accepting bitcoin for goods and I can have my shopping spree there.
Point being, selling bitcoin for dollars seems counterproductive. Why convert your paper fiat currency into sound value storing superior bitcoin, only to sell all of your superior bitcoin back for worthless antiquated fiat currency again? Why not just spend the bitcoin itself to buy what you want instead of taking a loss by converting back into dollars which will inflate away eventually anyway?
I think Bitcoin's $ 10,000 is never going to happen. The truth is I'm still keeping my Bitcoin and I'm waiting for a proper price to sell them. It could be $ 4000 or $ 5000. But now is not the time to sell it because Bitcoin is not really stable i think this is even possible but in fact no one know when will happen this. The price of bitcoin is not predictable and it is normal to sell if you really need the money to buy the things that you need and not your wants and also it is good to sell our bitcoins if we are going to invest it into something that can generate money, those are the things that is valid reasons to sell our bitcoin based on my opinion. |
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crazycatwoman03
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August 06, 2017, 03:48:37 PM |
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Having a decision about not selling your bitcoin ever was hard to do. There are only two things that can happen, maybe the time comes that its price rises so high or maybe it will gone soon. I prefer the first choice to happen. But to be safe devide it into two, in crypto and to real cash.
I agree with that. There is no assurance that there will be profit gain if we continue to keep our bitcoin. Keeping it depends on the situation and of course, if you really need money you will surely deduct an amount from your savings. Looking at its market price now, keeping bitcoin is surely beneficial but it will not always be like this. There will be times and days where bitcoin's price might fall down and converting it to cash will be an option. It is not wrong to keep your bitcoin as well as spending or using it for good things especially in emergencies or in helping your family. |
INVALID BBCODE: close of unopened tag in table (1)
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zulkarnaen
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August 06, 2017, 05:28:22 PM |
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Using bitcoin for the benefit of my family considers this a good thing, especially in an emergency is not wrong if you spend your bitcoin for a positive purpose, except spend bitcoin for rah rah like gambling
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KennyR
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August 06, 2017, 05:49:46 PM |
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Using bitcoin for the benefit of my family considers this a good thing, especially in an emergency is not wrong if you spend your bitcoin for a positive purpose, except spend bitcoin for rah rah like gambling
Yes, using it on emergency is good. Very few people sell at the right time while majority on over expectation just wait for a bigger price and finally ends up missing the ATH. In reality it's the best investment that one cannot find anywhere else and profit big and low depending on the luck. The popularity of the bitcoin is all because of the increased bitcoin price. |
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tittensor
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August 06, 2017, 06:24:08 PM |
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Using bitcoin for the benefit of my family considers this a good thing, especially in an emergency is not wrong if you spend your bitcoin for a positive purpose, except spend bitcoin for rah rah like gambling
Yes, using it on emergency is good. Very few people sell at the right time while majority on over expectation just wait for a bigger price and finally ends up missing the ATH. In reality it's the best investment that one cannot find anywhere else and profit big and low depending on the luck. The popularity of the bitcoin is all because of the increased bitcoin price. My strategy when holding Bitcoin is sell at highest price in this time and buy again enough amount I sold. How to know when highest price on market? Very easy if you check supply and demand on market carefully, you will understand the mentality of trader in short time want take profit or not, as past day I sold my Bitcoin at $3300 and buy again $3200, easy earning $100 per BTC  |
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Osarman
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August 07, 2017, 10:16:53 PM |
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You may never know, the price of bitcoins may go down just as any other currency, I believe without a doubt that people will start to sell their bitcoins then and they will do so hurriedly so that they dont even lose more money.
i think it is not such a good idea to hold bitcoin forever and to hold it. i think we should always use our bitcoin when we feel the need for that. i personally using bitcoin whenever i fell the need for that. Exactly! I mean, everyone has their own reasons on why they earn bitcoin. Whether for paying bills or investing, when the need arises for one to pay something that is essential then he/she could convert their bitcoins to fiat. For me, the purpose of bitcoin is for my future investments and savings but if an emergency happens and my parents don't have any extra cash, then I'm more than willing to contribute using my bitcoin. The idea behind people not converting their btc to fiat is due to the volatility of the price of bitcoins. Last January 2017, the price of bitcoins were around $1000+ and now, the price is beyond $2000. No one really knows the final price of bitcoin but one thing is for sure, the price increases overtime. Yes, we all have our reasons. The op didn’t even think before writing g this post, and it got me like “man are you really into this world?” there are lots of things you won’t be able to achieve without fiat. So I say to people, withdraw your bitcoins once you make profit. If you don’t withdraw it, how do you pay kid’s school fees? How do you pay electricity bills? Internet bills? So don’t ever mind anyone telling you not to sell. You should always buy and sell. You got into Bitcoin to get rich via fiat, don’t tell me that wasn’t your plan, cause I know it was. You all here got into Bitcoin to make money, don’t ever try to claim you’re a bigger fan, and you got into this just because of how lovely and world future currency it will be, then you’re a big liar. You’re not a fan more than I do. |
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gabmen
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August 08, 2017, 03:32:03 PM |
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Using bitcoin for the benefit of my family considers this a good thing, especially in an emergency is not wrong if you spend your bitcoin for a positive purpose, except spend bitcoin for rah rah like gambling
Yes, using it on emergency is good. Very few people sell at the right time while majority on over expectation just wait for a bigger price and finally ends up missing the ATH. In reality it's the best investment that one cannot find anywhere else and profit big and low depending on the luck. The popularity of the bitcoin is all because of the increased bitcoin price. Eventually all of us would have to sell our btcs. You can't keep it until it becomes useless. Forecasts have been very encouraging for us to keep.our btcs. Like the price would go beyond 5k or even beyomd 10k in a few years. But the assurance isn't there are strictly saving up btcs may end up you missing all the best chances to sell |
Report to moderator . ██████████. .████████████████. .██████████████████████. -█████████████████████████████ .██████████████████████████████████. -█████████████████████████████████████████ -███████████████████████████████████████████████ .-█████████████████████████████████████████████████████. .████████████████████████████████████████████████████████████ .██████████████████████████████████████████████████████████████. .██████████████████████████████████████████████████████████████. ..███████████████████████████████ |
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jc89
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August 08, 2017, 04:55:46 PM |
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This argument makes sense somehow but we have to consider one thing: not all things can be bought using bitcoin. And in my case as a trader I am not intending to hold every last btc I have. What I do is sell portions of my btc on the right time when the price is higher then buy again at a lower price. I do have plans of keeping some of it for future uses but you'll never see me hoard every btc I can buy then let it rot. That's not it's supposed to be. Btc should be circulated to keep its value or else it will be just like what you've said, worthless.
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Mpamaegbu
Legendary
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Activity: 2688
Merit: 1208
Once a man, twice a child!
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August 08, 2017, 07:28:25 PM |
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Whenever I read arguments such as in the OP, they always leave me mouth agape. Why wouldn't anyone sell their bitcoins if they were in dire need to solve a cash problem or they read into technical analysis that the coin may crash? I really don't get this part. Do we really see Bitcoin as a god or as an asset? I would sell if the price is right and then wait to buy back at a dip. This is because I see Bitcoin as an asset, not as an untouchable tin god.
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Tyrantt
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August 08, 2017, 11:54:23 PM |
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Whenever I read arguments such as in the OP, they always leave me mouth agape. Why wouldn't anyone sell their bitcoins if they were in dire need to solve a cash problem or they read into technical analysis that the coin may crash? I really don't get this part. Do we really see Bitcoin as a god or as an asset? I would sell if the price is right and then wait to buy back at a dip. This is because I see Bitcoin as an asset, not as an untouchable tin god.
Bitcoin is slowly turning into an investment asset but that's one thing I don't get... and I've asked that in some other thread so I'll just copy/paste it here. And then what? When the price hits $10k, there will be people saying Hold until $20k and so on, and so on... when does that holding end for you? |
Need some spare btc for a new PC that can at least run Adobe Dreamweaver.
BTC - 19qm3kH4MZELkefEb55HCe4Y5jgRRLCQmn ♦♦♦ ETH - 0xd71ACd8781d66393eBfc3Acd65B224e97Ae1952D
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RedditMaster
Member
Offline
Activity: 98
Merit: 10
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August 09, 2017, 04:49:35 AM |
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I guess I under stand this ...
Selling Bitcoins is a lot like selling US dollars... it makes no sense. lol
Well, it is basically just for currency exchange or whatnot, but as time goes on people will be able to live off of Bitcoin alone.
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bitbob82
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August 09, 2017, 05:24:50 AM |
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Whenever I read arguments such as in the OP, they always leave me mouth agape. Why wouldn't anyone sell their bitcoins if they were in dire need to solve a cash problem or they read into technical analysis that the coin may crash? I really don't get this part. Do we really see Bitcoin as a god or as an asset? I would sell if the price is right and then wait to buy back at a dip. This is because I see Bitcoin as an asset, not as an untouchable tin god.
any how is it is not a good idea not to sell our bitcoin for ever, i think people earn money for facilitating their life and i think we can facilitate our life if we are using bitcoin for fulfilling our needs therefore we should use bitcoin to make our llife more facilitated and to enjoy it. |
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goldcoinminer
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August 09, 2017, 06:14:58 AM |
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Whenever I read arguments such as in the OP, they always leave me mouth agape. Why wouldn't anyone sell their bitcoins if they were in dire need to solve a cash problem or they read into technical analysis that the coin may crash? I really don't get this part. Do we really see Bitcoin as a god or as an asset? I would sell if the price is right and then wait to buy back at a dip. This is because I see Bitcoin as an asset, not as an untouchable tin god.
any how is it is not a good idea not to sell our bitcoin for ever, i think people earn money for facilitating their life and i think we can facilitate our life if we are using bitcoin for fulfilling our needs therefore we should use bitcoin to make our llife more facilitated and to enjoy it. The thing that is certain is that we can still live our life even without bitcoin, it is just an aid to give us another payment system for our online transaction but for ordinary people this is nothing to them. I just have to trust bitcoin because it has great potential to grow more than gold can achieve. |
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