Why You Should Never Sell Your Bitcoins Ever

[Gyfts]

The example you say about the fiat currencies eventually tumbling to zero can be flipped on Bitcoin the exact same way. If Bitcoin were to reach 10,000 a coin, you assume that it would remain steady and that no one should convert to fiat, but realistically you can't be precise if the price wouldn't crash. When we were at 1,000+ a coin, many speculated we would be "to the moon" a year from that, and the direct opposite happened. I don't blame anyone for wanting to convert to fiat at 10k per coin. It's taking the safe way out (believe it or not) which isn't a bad thing.

[1714025451]

1714025451

[michietn94]

yeah this another reason Why I will not sell all of my bitcoin. Sometimes we can't predict that something can happen without being expected. Just hold bitcoin will help us as bitcoin user to crack up it's price no matter how "storm" will coming by

[jeffthebaker]

Well said, OP.  I personally have a theory that ic Bitcoin ever reaches 10,000 USD+ per coin, the dollar value will be irrelevent. This seems pretty obvious to me, but I don't see this lone of thinking much elsewhere.

[Pugsly]

The example you say about the fiat currencies eventually tumbling to zero can be flipped on Bitcoin the exact same way. If Bitcoin were to reach 10,000 a coin, you assume that it would remain steady and that no one should convert to fiat, but realistically you can't be precise if the price wouldn't crash. When we were at 1,000+ a coin, many speculated we would be "to the moon" a year from that, and the direct opposite happened. I don't blame anyone for wanting to convert to fiat at 10k per coin. It's taking the safe way out (believe it or not) which isn't a bad thing.

People don't have to cash them out/ exchange for bitcoin. They could just buy things with it instead, but I guess there's only so much stuff people can buy or want. I think if bitcoin does reach 1k again a lot of people will just cash them out to recoup their losses but the mass dumping will likely send the price going back the opposite way.

[acquafredda]

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

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.

Whenever I can I sell some when they're high enough and I rebuy them when they're low.
I always try to keep my btc stash and, when I can, to increase it.

But, as for the coffee, and a dinner I started to use them.

It feels nice...

[bitcoinmar]

Most of time I try to keep my bitcoins in my wallet but in some bad time I sell them and try to bring back as rate came down I have full faith in this so I try I never sell them

[Somekindabitcoin]

Most of time I try to keep my bitcoins in my wallet but in some bad time I sell them and try to bring back as rate came down I have full faith in this so I try I never sell them

But rate won't go down forever. Try to keep it in your wallet.

[torrentheaven]

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

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.

Whenever I can I sell some when they're high enough and I rebuy them when they're low.
I always try to keep my btc stash and, when I can, to increase it.

But, as for the coffee, and a dinner I started to use them.

It feels nice...

Its a great feeling to use it for a cup of coffee or for a dinner with the family and I would keep on spending as and when required and would love to keep on earning too but one thing is sure I would never sell all my bitcoins, it is better spending rather then selling. As once you sold it and then you might keep on regretting in future. So it is better to hold bitcoins.

[Derrike]

Because it is an investment that will definitely give you good roi in future.

[LiteCoinGuy]

Reading the responses to the recent topic titled, "I would sell all my bitcoins if…." has left me concerned.

...

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.
....

Wrong. See btcbug post.

probably you dont have to exchange a BTC to fiat at this point because you can buy eveything you want with BTC at this stage 

[n2004al]

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?

Dear friend! I understand very well your point of view but I don't agree fully your choice. Not everything the people need is sold at Overstock.com or TigerDirect.com or NewEgg.com. For example if I would want to buy a home and the seller want fiat money I am obligated to sell my bitcoin for fiat money. And not only this. There might be to many other thing that cannot be bought with bitcoin. What must to do? Not to buy them? And then for what I need bitcoins if I cannot have the needed things?

[pureelite]

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 do not think so , I think we need to earn bitcoins , but right now that is selling and buying other currencies , because the value of Bitcoin decline , and so can your money, your hard work go to waste

[PolarPoint]

You cannot tell people they should never sell bitcoin. Everyone holds different percentages of their wealth in bitcoin. You might hold a small percentage and can afford to loose part of that investment when bitcoin price is in decline. There are others who hold a large part their savings in bitcoin. They should sell their bitcoin for fiat when price is crashing, to protect their wealth, and buy them back when price stabilises.

The best I could say is "never sell all your bitcoin" ever.

[wearepoor]

yeah this another reason Why I will not sell all of my bitcoin. Sometimes we can't predict that something can happen without being expected. Just hold bitcoin will help us as bitcoin user to crack up it's price no matter how "storm" will coming by

Yes & Mr.Santoshi have predicted the price of $52k that's what I heard from my friend who is using bitcoins since long time back. Just imagine $52k per coin that is amazing what else we can ask for, just hope that Santhoshi's prediction becomes true.

[Proxiebuier]

I can't hold my bitcoin for long time
I sell my bitcoin at price 190$ 230 $ 300 $ also at 500$ in 2013
Im never Think twice to sell bitcoin if i need money to cost of life, like internet cost, electric cost and some drink

my point is how to growing my bitcoin with trade in altcoin

[gentlemand]

What the fuck is this shit with $10,000 coins equaling hyper inflation? That would give a market cap of $150 billion ish. That is NOTHING in terms of global turnover.

There really should be a basic arithmetic test before people are allowed to post here.

[Xenoph0bia]

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 do not think so , I think we need to earn bitcoins , but right now that is selling and buying other currencies , because the value of Bitcoin decline , and so can your money, your hard work go to waste

Your hard work and your hard earned money will never go waste if you have worked with great level of dedication and honesty. If the value of bitcoin is declining at a moment, no need to worry, focus on future and keep on earning and growing your bitcoins and never sell all your bitcoins.

[Mr.jatt]

Because their prices will always rise and sky is the limit or maybe beyond the infinity.

[Mickeyb]

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 do not think so , I think we need to earn bitcoins , but right now that is selling and buying other currencies , because the value of Bitcoin decline , and so can your money, your hard work go to waste

Your hard work and your hard earned money will never go waste if you have worked with great level of dedication and honesty. If the value of bitcoin is declining at a moment, no need to worry, focus on future and keep on earning and growing your bitcoins and never sell all your bitcoins.

Exactly, don't let the declining prices fool you people. Bitcoin economy is very healthy. Ton of money is coming in from the VCs and other reputable businesses.

The fact that bitcoin prices have been declining over the last period of time is just that price had to find its equilibrium. This equilibrium is the price of about $250 that we are seeing now. Bitcoin was simply overbought when it went over $1000.

[newb4now]

-snip-
Point being, selling bitcoin for dollars seems counterproductive.
-snip-

That graphic explains your point well. More so for people that have actually seen the movie.

I do see your point. However there is danger in leaving everything in one asset class. BTC could rise rapidly to high levels and then later crash to 0. Total loss could have been avoided by selling some BTC or trading it for another asset class when prices were high.

Its not all or nothing. You can sell some of your BTC and keep the rest