Why You Should Never Sell Your Bitcoins Ever

[NavI_027]

I get your point and you're right somehow. Actually I'm also willing to use crytocurrency in DIRECT applications since it is now revolutionizing the current monetary system we have today little by little, but sad to say, there are still LACK of opportunities that hinders me to do so that's why I am forced to convert btc into fiat.

Like in my country, cryptocurrency still remains an option and seems farther to replace Php (our currency). Yes! There are several opportunities that you can directly use btc such as buying load and paying bills but in majority, you should convert it first before consuming so I have no choice at all.

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[Gudhal Untu]

Currently bitcoin networks are so busy that making transaction costs so expensive, I've used blockchain and cost more than 0.005 btc which is the highest record in transactions.

[Butchick]

Bitcoin has been one of the best investment available but i don't think we should just keep it that way. From where i am from, bitcoin isn't that recognized and its use is limited. though we have it as an investment, There will always be a time when we have to convert it and use it. Transaction fees may be too high but it gives us no choice since we are investing not for safe keepingonly but for us to have something to use and spend at the same time.

[Macai]

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?

Because of its acceptability. Not all business institutions whether big or small does not accept bitcoins. Thus you need to sell some of your holdings for these purposes.

[james23]

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?

For me i should never sell my bitcoin ever I should invest more and made more bitcoin for my future

[haster100]

Yeah? But when? I am sorry I cannot side with you. Yes we have different opinion. I guess I will just say mine. I dont want to rot my coins in my wallet. I want some profit in it. So letting it stay there and waiting for that big jump will take long and I am impatient for that. So I do sell it and buy again.

[galestorm]

Its because there are things that people want to buy with fiat money. Bitcoin isnt that popular to be considered as a currency which can be used to pay product and services on a daily basis. What bitcoin can buy is limited than of fiat money that's why people will immediately convert if bitcoin's value increases.

[merlyn22]

sometimes you have to sell bitcoins mostly if we need money...personally i do buy low bitcoins and sell high..this is the way i feel my profit from trading... we cannot predict the price of bitcoins holding for long maybe risk or maybe good.

[cheann20]

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?

For me, I think It depends on how far society has adapted to bitcoin. If, in the future I can pay for everything with bitcoin, there's not need to sell or exchange my bitcoins.
People mainly exchange and sell because they need fiat and bitcoin is not acceptable as payment ..

[MrZ28s]

Bitcoin have real potential but I am selling when I need money for personal use, to buy altcoins, to invest on other stuffs and when I felt it will drop too low.

[Saidmod]

I will not sell mine and hold as long as possible until the right time and price. But to never ever sell i dont see why you will not ever sell your bitcoin. Maybe its better to be "when is the right time to sell bitcoin".

Having that attitude of never selling is not good, after all at some point you need to enjoy your money, what it is the point of having a fortune in bitcoin if you cannot pay your rent, set a price you think is ridiculous and when bitcoin touches that price then sell and enjoy your profits.

Let me just clarify. Selling doesn't mean spending as well. But still I agree that the attitude of not selling is not really good. Bitcoin can now do the job of fiat but the best way to earn profit from bitcoin is through selling it. For those who are saying that we dont need fiat anymore, well I'm telling you we still need paper money for other stores/ businesses that do not accept bitcoin yet to keep for our living .

[CryptoBaxing]

Well in first place you need to have a bitcoin in order to sell it But what is the use if you never sell it ?

[redsun114]

Well in first place you need to have a bitcoin in order to sell it But what is the use if you never sell it ?

There is too much reward and massive profit in not using bitcoin for a long period of time. The more you hold to bitcoin, the more chances you have of becoming rich in the near future. I don’t think so there is any harm in holding bitcoin. It is the best way of making massive money with bitcoin. Not using bitcoin means here that we should not spend it over useless and non-durable things. Keep it for big purposes.

[Chrisjay29]

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 its so rediculous that you never sell your bitcoin.What if the bitcoin will gone because its not possible the bitcoin pop!! like a bubble. Then you didnt sell your bitcoin.I think its okay to sell just on those extra profit the rest is your hold.Its better to get little profit than nothing. But its only my opinion

[TERA2]

So are we in the apocalypse now?

[monkeykiss21]

What the use of your bitcoin if you don't want to sell it anymore? What if bitcoin is become end and gone it without any reason to stop it. Then your bitcoin doesn't have any value to sell. And it's useless that you're still using bitcoin with nothing..

[Jupeter]

So are we in the apocalypse now?

This is my own opinion with that, we should never sell our bitcoins ever because the value of it is we will surely pump every year so if we will just hold it for long time maybe 3years i am very sure that the value of bitcoin is we will be very high and when thaf will happen we can make many money from it.

[Barbarian]

I really like the first post of this thread You see already 2015 there were alot of people who believed in bitcoin and tell everbody to hodl! These people are rich today. You d everything right!

But... are they still hodling? Some not: they have cashed out. They are rich now.

Lol, that there are people telling others to hold their bitcoin back in 2015 doesn’t mean that they’re rich now. Some of these people telling others to hold back in 2015 are even the worst when it comes to panicking, and the op can possibly be one of them. By the way, this is Investment, if you think you have made a lot of money, then you should make space for others to invest and make their own.

Those that want to make money in this space will need to take risks in the same way the early adopters did back in the day, you cannot buy bitcoin and become rich overnight anymore, you will need to look for altcoins with low market cap that have honest developers and good ideas.

[batang_bitcoin]

Well in first place you need to have a bitcoin in order to sell it But what is the use if you never sell it ?

It's true that what will be the use of bitcoin if you will "never" sell it. We have to sell in able to take profits from bitcoin and not only with btc but with other coins as well. Everyone has his own freedom of choice whether he would sell or not. We are all grown up and on the right age (I assume) so we already know what we are doing. Don't never sell, we have to enjoy our profits as this how life goes on.

[uptown04]

Some goods and services are only accesible with dollars and you can`t use btc for them which forces people who are in need of money to sell their btc.