Why You Should Never Sell Your Bitcoins Ever

[calkob]

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


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.

The idea that bitcoin could get to be worth $10,000 and still the only companies accepting it are Overstock,  Tiger direct and newEgg, made me laugh, o yeah and mybe Amazon....... hahahahhaha 

[flagpara]

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


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.

The idea that bitcoin could get to be worth $10,000 and still the only companies accepting it are Overstock,  Tiger direct and newEgg, made me laugh, o yeah and mybe Amazon....... hahahahhaha 

True 
If btc rise enough, EVERYONe and EVERYTHING will accept bitcoins. Seems rather obvious to me.

[Amph]

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


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.

The idea that bitcoin could get to be worth $10,000 and still the only companies accepting it are Overstock,  Tiger direct and newEgg, made me laugh, o yeah and mybe Amazon....... hahahahhaha 

True 
If btc rise enough, EVERYONe and EVERYTHING will accept bitcoins. Seems rather obvious to me.

they are not even waiting for that, amazon for example is waiting for regulation, they cannot accept somethign that is not regulated globally, because they are dealing with many country

so not even about the issue with the block limit or something, i also think many other are waiting for regulation

[midmir]

I agree with the OP.  After read many posts I found that most of the users here do not truly believe in and/or not fully understand what Bitcoin is.

[DimensionZ]

What about writing the personal keys to your stash of bitcoins in your will and give it to your children effectively making them millionaires in their lifetime?

[midmir]

What about writing the personal keys to your stash of bitcoins in your will and give it to your children effectively making them millionaires in their lifetime?

Sure, couple of BTC should be enough 

[XinXan]

I learn the lesson myself that do not never sell my bitcoin unless you are in need of using it. Then do not sell it because you will start feeling regret when the price goes up

Yes I learned this as well. That's why I'm trying to hold as much as I can. Since I'm doing bitcoin next to my regular job, it's not needed to spend it on anything right now.
It's best to hold in this situation that I'm in.

yeah just made the same mistake again a few weeks back. Sold my bitcoin at 350 and BAM! 3 days later 420  Hope I will never do that again

It's a mistake now but you coulnd't know it back then. You will hold now and maybe it goes back to 200 and it stays there for 6 months, you never know. The real mistake would be to hold forever without any sense, you have to trade your bitcoins not hold them.

[zodiac3011]

I learn the lesson myself that do not never sell my bitcoin unless you are in need of using it. Then do not sell it because you will start feeling regret when the price goes up

Yes I learned this as well. That's why I'm trying to hold as much as I can. Since I'm doing bitcoin next to my regular job, it's not needed to spend it on anything right now.
It's best to hold in this situation that I'm in.

yeah just made the same mistake again a few weeks back. Sold my bitcoin at 350 and BAM! 3 days later 420  Hope I will never do that again

It's a mistake now but you coulnd't know it back then. You will hold now and maybe it goes back to 200 and it stays there for 6 months, you never know. The real mistake would be to hold forever without any sense, you have to trade your bitcoins not hold them.

well I know but hold for a long time right now maybe an good option as bitcoin is having a really good potential right now. Hardly can bitcoin be abandoned and the price will go up soon so yeah will try to hold it but not forever

[coinyard]

What about writing the personal keys to your stash of bitcoins in your will and give it to your children effectively making them millionaires in their lifetime?

If you write your private key in the will, will somebody such as the lawyer see the characters and steal the bitcoin?

[madonnino]

What about writing the personal keys to your stash of bitcoins in your will and give it to your children effectively making them millionaires in their lifetime?

If you write your private key in the will, will somebody such as the lawyer see the characters and steal the bitcoin?

you can simple resolve this by teach your child how to use pgp message. So in your will you only write the pgp message whit the keys into it

[mtnsaa]

I think many of us will sell a share if we can clearly see a bubble or spike with no correlation to fiat or other markets. If Bitcoin suddenly starts rising and reach $10000 many will sell in a second because that can't be real. On the other hand if Bitcoin reaches that value with years and based on fiat inflation, then it means BTC has become a completely legit currency and people will actually want to convert fiat to it not the other way around.

[HarryKPeters]

I think many of us will sell a share if we can clearly see a bubble or spike with no correlation to fiat or other markets. If Bitcoin suddenly starts rising and reach $10000 many will sell in a second because that can't be real. On the other hand if Bitcoin reaches that value with years and based on fiat inflation, then it means BTC has become a completely legit currency and people will actually want to convert fiat to it not the other way around.

Yeah in time you will see the rate where people think it's acceptable to buy a bitcoin for X will increase. 1.5 years ago buying at 700 USD was completely normal.
So with every increase of the price, the floor is raised too.

[Mr.grin]

if we never sell bitcoin we have, so what purpose we are looking for bitcoin, I guess bitcoin same as real money, but bitcoin only in use on the Internet, so we also need to sell our interests in the real world 

[madonnino]

if we never sell bitcoin we have, so what purpose we are looking for bitcoin, I guess bitcoin same as real money, but bitcoin only in use on the Internet, so we also need to sell our interests in the real world 

in few years all the transaction will be made on internet without cash, so internet will be what you are calling the real world

[coinyard]

if we never sell bitcoin we have, so what purpose we are looking for bitcoin, I guess bitcoin same as real money, but bitcoin only in use on the Internet, so we also need to sell our interests in the real world 

Maybe we should not sell our bitcoin on exchanges. We should just use the bitcoin to buy some goods.

[Amph]

if we never sell bitcoin we have, so what purpose we are looking for bitcoin, I guess bitcoin same as real money, but bitcoin only in use on the Internet, so we also need to sell our interests in the real world 

Maybe we should not sell our bitcoin on exchanges. We should just use the bitcoin to buy some goods.

this si the ultimate goal, but people forget that you cna already do it nowwadays, if you search for it

you can do it with purse.io, here on the forum by contacting someone, and or with other website like all4btc(a bti expensive, but doable)

there are plenty of way online to use bitcoin directly, this will also help the demand and reduce the dumping

[blackmachinegun]

I still hold my bitcoin in the wallet, there are about 2 ~ BTC, I've held almost one month of december last year,
I can not trade them now, I am waiting pump of halving effect

[shane]

if you are a real bitcoiner, you get salary with bitcoin and you did'nt have other job except bitcoin, so you will still hold your bitcoin ? how did you meet your needs everyday ?

[HarizDB]

You should use your Bitcoins one day - but as off now, it would be a pure stupid move to sell your available coins. I could see the coins rise quite much in value in the next weeks - will it reach the 1000-mark in 2016 is too early to say, but indeed a possibility. It seems Bitcoins are getting a bigger audience, which means the demand on the coins increases. Simple demand/supply theory says the price will rise - so keep your coins close to you!

[ingiltere]

I don't agree with you. I always sell my coins because I don't think price will rise steadily. I feel better when I hold my money in cash in my bank account. Whenever I have coins I immediately exchange it in the OTC market.