Why You Should Never Sell Your Bitcoins Ever

[sabbirshm]

I beg to disagree, as far as I know we can hold the coins or Bitcoin for along time but not selling it ever, that is ridiculous. The essence of waiting will become useless.

You have the point and this is opportunity that we can make a good profit everytime the price is increasing since the price of bitcoin is unpredictable and we do not know when bitcoin will down or up again.. so to be safe you can sell partial of your bitcoin holdings.. from 15% to 25% depends how much you are holding just to safe your profit and not losing your opportunity..

I also do agree on your point.If we can't spend Bitcoin then what is the worth of it.I consider holding is a easy way of earning Bitcoin.I bought about 10 BTC when it's price was near 350$ and sold it at 1000$.So I got much profit from holding.So if I don't ever sell it then why I will hold it.

[Zadicar]

I beg to disagree, as far as I know we can hold the coins or Bitcoin for along time but not selling it ever, that is ridiculous. The essence of waiting will become useless.

This is true,its really easy to say that we should hold our bitcoin for long time without spending a single Satoshi on it. I would say it's really hard specially when you need money in times you saw an opportunity to make profits you will definitely spend your bitcoin.

[Edraket31]

Bitcoin can possibly the future fiat although it will not totally eliminate fiat still it is a great thing if you still have bitcoin on hand after 10 years or more. Just imagine how bitcoin's price we have right now? What more after 10 years, it could possibly times 10 of the current price now or more.

[gabmen]

I beg to disagree, as far as I know we can hold the coins or Bitcoin for along time but not selling it ever, that is ridiculous. The essence of waiting will become useless.

This is true,its really easy to say that we should hold our bitcoin for long time without spending a single Satoshi on it. I would say it's really hard specially when you need money in times you saw an opportunity to make profits you will definitely spend your bitcoin.

Indeed and what's the point in holding on to your btc's if you're not going to sell it at the right time? I think it's all about timing. Holding on to your bitcoins would most likely allow you to observe the ups and downs of the price and if you're observant enough you may even be able to predict ina way a trend and then know the best time to sell btc's. But the bottom line is that you can't really hold on to it forever. Either you hold on to it long enough and sell it ar the correct time or regret it when you need to sell it and the price is eay down

[sukamasoto]

People always greed so they can't resist to sell some bits for it so as we know that a human nature
I'm also regret because I sold bits when bitcoin still $800 / btc although the value increased up to $ 1000 /btc

[Bitcoinsummoner]

Bitcoin can possibly the future fiat although it will not totally eliminate fiat still it is a great thing if you still have bitcoin on hand after 10 years or more. Just imagine how bitcoin's price we have right now? What more after 10 years, it could possibly times 10 of the current price now or more.

For me its not a good idea to stay hold your bitcoin for a long time and i think bitcoin will never be fiat it will be still as alternative payment online. since bitcoin is just like the same as other payment method paypal or vcc online is actually the same as bitcoin but the different bitcoin is not instant and anytime the payment can be reverse.. that is why they are waiting for 3 confirmation thant vcc its really instant..
For me if i have bitcoin if the price is increasing i will sell few bitcoin and the rest i sell it if the price continues to increased..

[richardsNY]

Bitcoin can possibly the future fiat although it will not totally eliminate fiat still it is a great thing if you still have bitcoin on hand after 10 years or more. Just imagine how bitcoin's price we have right now? What more after 10 years, it could possibly times 10 of the current price now or more.

For me its not a good idea to stay hold your bitcoin for a long time and i think bitcoin will never be fiat it will be still as alternative payment online. since bitcoin is just like the same as other payment method paypal or vcc online is actually the same as bitcoin but the different bitcoin is not instant and anytime the payment can be reverse.. that is why they are waiting for 3 confirmation thant vcc its really instant..
For me if i have bitcoin if the price is increasing i will sell few bitcoin and the rest i sell it if the price continues to increased..

Bitcoin transactions post instantly, just to clear that out. It's the confirmation times that makes you wait. Or you simply didn't include an appropriate enough fee which makes pools ignore your transaction for a while. When it comes to the reverse aspect, you as normal person don't have to worry about that unless you deal with millions every time like is the case with exchanges for example. That's why they require 3 confirmations before your deposit posts. It's set like that because exchanges have a lot to lose. In general 1 confirmation is safe enough.

[jaysabi]

Bitcoin can possibly the future fiat although it will not totally eliminate fiat still it is a great thing if you still have bitcoin on hand after 10 years or more. Just imagine how bitcoin's price we have right now? What more after 10 years, it could possibly times 10 of the current price now or more.

For me its not a good idea to stay hold your bitcoin for a long time and i think bitcoin will never be fiat it will be still as alternative payment online. since bitcoin is just like the same as other payment method paypal or vcc online is actually the same as bitcoin but the different bitcoin is not instant and anytime the payment can be reverse.. that is why they are waiting for 3 confirmation thant vcc its really instant..
For me if i have bitcoin if the price is increasing i will sell few bitcoin and the rest i sell it if the price continues to increased..

Bitcoin transactions post instantly, just to clear that out. It's the confirmation times that makes you wait. Or you simply didn't include an appropriate enough fee which makes pools ignore your transaction for a while. When it comes to the reverse aspect, you as normal person don't have to worry about that unless you deal with millions every time like is the case with exchanges for example. That's why they require 3 confirmations before your deposit posts. It's set like that because exchanges have a lot to lose. In general 1 confirmation is safe enough.

I don't believe they "post" instantly either. Don't they still need a node to broadcast them out? I'm a bit hazy on how this part works exactly, but when there was all that congestion in the bitcoin network last year due to the refusal to increase the block size, there were always tens of thousands of transactions sitting in a pool waiting to be broadcast, but I think the nodes were only broadcasting the transactions that paid the highest fees. So it's not that the rest were waiting to be "confirmed." They hand't even been "posted" yet by a node to start the confirmation process. At least I think that was the issue, if anyone can provide any clarification on this, I'd appreciate it.

[czvezda]

Never selling bitcoins doesn't make any sense as you are investing your money into it to make profits and if you don't sell them when price goes higher then your purchase then what's the use of investing money in bitcoins? So if its giving me good profits then I will not hesitate in selling part of them to grab the profits and rest will hold for the future.

[ophyrim]

If one day I will not sell my bitcoins, why I am investing my money in bitcoin now? I mean it is pointless to have something if you will not use it one day in the future. For example, I have 1 bitcoin now but I don't use it. What is the meaning of to have it? Just wasting time, energy and also money.

[Pettuh4]

Never selling bitcoins doesn't make any sense as you are investing your money into it to make profits and if you don't sell them when price goes higher then your purchase then what's the use of investing money in bitcoins? So if its giving me good profits then I will not hesitate in selling part of them to grab the profits and rest will hold for the future.

I agree with you, but it seems he was referring to a particular timeline (maybe currently) because it makes no sense if you deprive yourself of your own investments ever. I think you can hold it and be smart about it-sell and buy when necessary or investment for your kids in future so clearly there's a need for a timeline.

[sportis]

If one day I will not sell my bitcoins, why I am investing my money in bitcoin now? I mean it is pointless to have something if you will not use it one day in the future. For example, I have 1 bitcoin now but I don't use it. What is the meaning of to have it? Just wasting time, energy and also money.

You probably won't agree but bitcoin is an electronic payment system that is currency. So, anyone would use it to buy goods and services like as fiat money. Under this rationale it's not pointless to have bitcoins because you can use it for your life needs and not only as a commodity.

[1Referee]

If one day I will not sell my bitcoins, why I am investing my money in bitcoin now? I mean it is pointless to have something if you will not use it one day in the future. For example, I have 1 bitcoin now but I don't use it. What is the meaning of to have it? Just wasting time, energy and also money.

Point that OP is making, is that you CAN use it to purchase stuff from stores with your Bitcoins, but that he doesn't see any reason to sell coins for dollars. It's his personal opinion of course, which you, but also I don't fully agree with. I can understand his way of thinking, but it's a fact that the majority of the people here simply don't look at Bitcoin from that perspective. For a lot people Bitcoin is nothing more than an investment opportunity, where eventually everything gets converted back to fiat. Why do they mostly always convert their coins to fiat? Because they don't trust Bitcoin to keep their money sitting in there for too long due to the volatility.

[deppil]

If one day I will not sell my bitcoins, why I am investing my money in bitcoin now? I mean it is pointless to have something if you will not use it one day in the future. For example, I have 1 bitcoin now but I don't use it. What is the meaning of to have it? Just wasting time, energy and also money.

I think one of the reasons why you hold your bitcoin and sell it of course because you have to choose the right price or higher so you get a profit on the investment bitcoin, it is the main reason

[X-ray]

If one day I will not sell my bitcoins, why I am investing my money in bitcoin now? I mean it is pointless to have something if you will not use it one day in the future. For example, I have 1 bitcoin now but I don't use it. What is the meaning of to have it? Just wasting time, energy and also money.

That's right, something even if it's precious but you can't control or never ever want to control ( sell it, or something ) will be as the same as useless and it's pointless to have these sort of things, never sell bitcoin or use it is definitely stupid action as the primary function of bitcoin is as a currency and normally being spent

[richardsNY]

Bitcoin can possibly the future fiat although it will not totally eliminate fiat still it is a great thing if you still have bitcoin on hand after 10 years or more. Just imagine how bitcoin's price we have right now? What more after 10 years, it could possibly times 10 of the current price now or more.

For me its not a good idea to stay hold your bitcoin for a long time and i think bitcoin will never be fiat it will be still as alternative payment online. since bitcoin is just like the same as other payment method paypal or vcc online is actually the same as bitcoin but the different bitcoin is not instant and anytime the payment can be reverse.. that is why they are waiting for 3 confirmation thant vcc its really instant..
For me if i have bitcoin if the price is increasing i will sell few bitcoin and the rest i sell it if the price continues to increased..

Bitcoin transactions post instantly, just to clear that out. It's the confirmation times that makes you wait. Or you simply didn't include an appropriate enough fee which makes pools ignore your transaction for a while. When it comes to the reverse aspect, you as normal person don't have to worry about that unless you deal with millions every time like is the case with exchanges for example. That's why they require 3 confirmations before your deposit posts. It's set like that because exchanges have a lot to lose. In general 1 confirmation is safe enough.

I don't believe they "post" instantly either. Don't they still need a node to broadcast them out? I'm a bit hazy on how this part works exactly, but when there was all that congestion in the bitcoin network last year due to the refusal to increase the block size, there were always tens of thousands of transactions sitting in a pool waiting to be broadcast, but I think the nodes were only broadcasting the transactions that paid the highest fees. So it's not that the rest were waiting to be "confirmed." They hand't even been "posted" yet by a node to start the confirmation process. At least I think that was the issue, if anyone can provide any clarification on this, I'd appreciate it.

If you put it that way, then in some cases it's not instant as there are nodes not willing to broadcast certain transactions, but that's mostly only the case when transactions have almost zero chances of getting confirmed. I once sent several low value transactions without any fees (for testing purposes), and then I checked everything through various block explorers. Funny thing was that one explorer, blockr.io, actually showed everything like it was doing usually, while other explorers didn't recognize the tx id like it didn't exist. In this case they simply ignored these no fee transactions. After that I double spent these transactions with fee where they got noticed instantly by all explorers.

[wahb]

Never selling bitcoins doesn't make any sense as you are investing your money into it to make profits and if you don't sell them when price goes higher then your purchase then what's the use of investing money in bitcoins? So if its giving me good profits then I will not hesitate in selling part of them to grab the profits and rest will hold for the future.

yes no one will like not to sell their bitcoins for ever. i think one can do that if he feel that the price of bitcoin is now trading in a high price and he can also sell it if need to fiat then he will convert bitcoin into fiat.

[Tanic]

How many bitcoins a person needs to become a millionaire. It is difficult to answer this question. Bitcoin it is very volatile and if you invest today, you can as make as lose money.
Another question is when you want to become a millionaire: it will take two years? 10 years? 35 years? Whether the dollar price? That you can buy for a million dollars in the next 50 years?
We could, of course, based on the hypothesis that everything will go how it goes, and in the next couple of decades will continue small inflation. Then you, ultimately, will become fabulously rich. But, unfortunately, such guarantees can not come true.

[PokemonFun]

When I see bitcoin price per peace 1 bitcoin=at least 5000$ I will sell but if I see that bitcoin price stopped to grow before then I will wait maximum of price which bitcoin can get and sell him for that price to get some profit and invest in some other cryptocurrency like in Qtum cryptocurrency because it looks like a really good cryptocurrency which have a perfect future.I am hoping that other cryptocurrencies will grow like bitcoin later and bitcoin price will go down because I am sure that many countries will bann bitcoin from their citizents hands so only way to get bitcoin will be black market.Like example 2 countries in Europe I dont know exactly which countries banned bitcoin and they are making own cryptocurrency.I think that other countries will follow them and then that will be in all over the world and after that we will have nathional cryptocurrencies or regional cryptocurrencies.

[deppil]

Never selling bitcoins doesn't make any sense as you are investing your money into it to make profits and if you don't sell them when price goes higher then your purchase then what's the use of investing money in bitcoins? So if its giving me good profits then I will not hesitate in selling part of them to grab the profits and rest will hold for the future.

yes no one will like not to sell their bitcoins for ever. i think one can do that if he feel that the price of bitcoin is now trading in a high price and he can also sell it if need to fiat then he will convert bitcoin into fiat.

of course it is one of the main reasons why many people do not sell their bitcoin and hold bitcoin. because they are waiting for higher prices so that when they sell they will earn a profit. no matter how long you hold