Why You Should Never Sell Your Bitcoins Ever

[Dontme]

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?

People are not the same, some are not like you! If that was the thing that you are comfortable with your bitcoin to spend with the online shoping then go with it. Because there are also people like me that are not trusted enough those online store because of their product that are only in pictures, how about on actual? I don't want my self to be disappointed. So, instead of spending it on online store, I am preferred to exchange it into cash and shoppe on mall for me to take assurance on the product that I will buy.
If bitcoin reach approximately $10,000 I think people are going to cash out it as soon as possible. Why? Because that was everybody's goal. We don't know the future of bitcoin. So, keep holding it.

[Questat]

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 logic here is we hold to make money but it does not mean we have to hold forever because with that we will never gonna
enjoy our profit. We sell at our desire amount as that is what is important, we buy and hold as we are waiting for its value to increase
to bring us profit.

[millgates]

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.

Maybe some people  will try to minimize the cost of their basic needs so they can invest more in bitcoin than sell it when the price is high. But it requires patience. So it would be better if we increase the income to exceed our basic needs. Bitcoin is not God, we must use it for get profit.

[BUK2016]

Although am yet to start earning bitcoin from signature campaign and trading but if i eventually earn some reasonable amount of Bitcoin, i will hold it pending when the market value of Bitcoin increases to like $10,000 before I will think of what to do with my money. And bitcoin value will increase to that level in two years to come base on its current upward movement.

[blackmagician]

Selling bitcoins at this current price is like throwing your only way to millions someday. And its already official that segwit is only for bitcoin,which only means that bitcoin will keep on increasing as month goes by. And in no time  will be seeing maybe 30k -$40k value in price .

[matchi2011]

Selling bitcoins at this current price is like throwing your only way to millions someday. And its already official that segwit is only for bitcoin,which only means that bitcoin will keep on increasing as month goes by. And in no time  will be seeing maybe 30k -$40k value in price .

Lol then you still would have to sell your bitcoins right? Its funny to think that you're not gonna be selling btcs ever. What do you suppoae you're going to do with your btcs? Even if let's say the price does shoot up to the moon and the sun, you're only going to enjoy your savings by selling

[Finestream]

Selling bitcoins at this current price is like throwing your only way to millions someday. And its already official that segwit is only for bitcoin,which only means that bitcoin will keep on increasing as month goes by. And in no time  will be seeing maybe 30k -$40k value in price .

Lol then you still would have to sell your bitcoins right? Its funny to think that you're not gonna be selling btcs ever. What do you suppoae you're going to do with your btcs? Even if let's say the price does shoot up to the moon and the sun, you're only going to enjoy your savings by selling

Of course he will sell his bitcoins on time, it's useless to hold your bitcoins when you cannot cash out and enjoy, let's be practical here we always say hold and hold until you see the best price but eventually even if the best was not yet seen we already make a decision to sell.
It's human nature that we are tempted sometimes and I believe only few number of people has that strong will to really hold their coins for a number of years.

[Catswold]

Selling bitcoins at this current price is like throwing your only way to millions someday. And its already official that segwit is only for bitcoin,which only means that bitcoin will keep on increasing as month goes by. And in no time  will be seeing maybe 30k -$40k value in price .

Lol then you still would have to sell your bitcoins right? Its funny to think that you're not gonna be selling btcs ever. What do you suppoae you're going to do with your btcs? Even if let's say the price does shoot up to the moon and the sun, you're only going to enjoy your savings by selling

Yeah if you want to enjoy your profits then you have to sell your bitcoins at some point of time as with holding you will never make profits and no one knows where price will land in future and if there is downfall in the price then you will regret for not selling at a right time.

[GideonGono]

Selling bitcoins at this current price is like throwing your only way to millions someday. And its already official that segwit is only for bitcoin,which only means that bitcoin will keep on increasing as month goes by. And in no time  will be seeing maybe 30k -$40k value in price .

Lol then you still would have to sell your bitcoins right? Its funny to think that you're not gonna be selling btcs ever. What do you suppoae you're going to do with your btcs? Even if let's say the price does shoot up to the moon and the sun, you're only going to enjoy your savings by selling

Yeah if you want to enjoy your profits then you have to sell your bitcoins at some point of time as with holding you will never make profits and no one knows where price will land in future and if there is downfall in the price then you will regret for not selling at a right time.

All I can say is that it has pros and cons. As for me, there comes a point where I have to sell my bitcoins since we know that we can't purchase some things that can be brought by fiat only. In order to purchase that then it is needed for me to sell some of it but as long as it is not needed then I will not.

[marseille]

Selling bitcoins at this current price is like throwing your only way to millions someday. And its already official that segwit is only for bitcoin,which only means that bitcoin will keep on increasing as month goes by. And in no time  will be seeing maybe 30k -$40k value in price .

Lol then you still would have to sell your bitcoins right? Its funny to think that you're not gonna be selling btcs ever. What do you suppoae you're going to do with your btcs? Even if let's say the price does shoot up to the moon and the sun, you're only going to enjoy your savings by selling

Yeah if you want to enjoy your profits then you have to sell your bitcoins at some point of time as with holding you will never make profits and no one knows where price will land in future and if there is downfall in the price then you will regret for not selling at a right time.

All I can say is that it has pros and cons. As for me, there comes a point where I have to sell my bitcoins since we know that we can't purchase some things that can be brought by fiat only. In order to purchase that then it is needed for me to sell some of it but as long as it is not needed then I will not.

If bitcoin is a secondary source of income for you and if you have a day job that pays you in fiat then I think there is no need to sell your bitcoins as you have fiat to take care of your expenses and bitcoins should be saved without spending to gain more benefits in future.

[farhaan]

Idea is good.Instead of converting bitcoins again in to fiat and spending a amount as fee for it and then buying any goods with that fiat cash,directly we could buy such goods with bitcoin itself.But,where could we find services or shops which sell all products for bitcoins.Its available only in japan now since bitcoin has been legalized there.It would take long time to buy goods with bitcoin itself in other parts of the world.

[msarro]

Selling bitcoins never doesn't make any sense to me as I will always sell my bitcoins when I am making enough profits from it but I will also save some of it for future to sell at much higher price as I don't want to regret by not selling at the right time.

[dmamigo]

Selling bitcoins never doesn't make any sense to me as I will always sell my bitcoins when I am making enough profits from it but I will also save some of it for future to sell at much higher price as I don't want to regret by not selling at the right time.

Yup, if you are in profit, then its not bad to convert it or spend it. I believe many don't use Bitcoin as investment, rather as a transaction medium. Like I know many who just put in money to wallets and uses it to spend on steam.

If I talk about people who earns or acquires cryptos, then its different. I believe neither keep all nor sell all. But similarly many holds and uses it to invest in other cryptos rather than converting any to fiat. So it depends on requirements and mentality obviously.

[chaser15]

Idea is good.Instead of converting bitcoins again in to fiat and spending a amount as fee for it and then buying any goods with that fiat cash,directly we could buy such goods with bitcoin itself.But,where could we find services or shops which sell all products for bitcoins.Its available only in japan now since bitcoin has been legalized there.It would take long time to buy goods with bitcoin itself in other parts of the world.

Availability of merchants accepting bitcoin depends on certain location. It's not about that there are only in Japan but we can really sees lots of merchants accepting bitcoin because of their actions taken to bitcoin as legal currency.

How to find if there's a merchant available at your place or even possibilities to use your bitcoin to purchase things? EXPLORE. There are services that supported different countries or who knows that you have local exchanger there which have a services like that. You can ask your local crypto community there by reaching them thru social medias or in your local section here in the forum.

[cyclotronmajesty]

I will sell my coins if I am making good profits from it but I will never sell all my coins and will save some of them for future as price will be higher in long term so its better to have some coins in wallet to sell them at higher price in future.

[BTCbengi]

To convert from BTC to fiat there will be a fee, whereas just buying whatever it is directly with bitcoin there will not.

Yes. Most things have to be bought in cash while Bitcoin is not popular for payment so every one has to switch to Fiat to pay even though it takes a transfer fee.

[LimLims]

To convert from BTC to fiat there will be a fee, whereas just buying whatever it is directly with bitcoin there will not.

Yes. Most things have to be bought in cash while Bitcoin is not popular for payment so every one has to switch to Fiat to pay even though it takes a transfer fee.

If you want to get rid of transaction fees then you can start using bitcoin debit card as it is accepted everywhere like debit and credit cards and there is no fees involved if you use it at physical place for shopping and it can save your money.

[Adam]

bitcoin it is just money. why do u need money if u dont spend it? of course not all for the one day but u have to sped it once

[BlockEye]

bitcoin it is just money. why do u need money if u dont spend it? of course not all for the one day but u have to sped it once

Spend it only when needed the most,you might regret spending it or cashing it out when the btc value increase in huge amount and you do not have any btc left or think that the btc you have should be x3 of your already if didn't spend it yet. Time will come that we will spend it maybe when it already buy things we needed and wanted so we can't regret it.

[babysweetTiger0401]

To convert from BTC to fiat there will be a fee, whereas just buying whatever it is directly with bitcoin there will not.

In every transactions that we are going to make there is always a fee of charges. Only the difference was the percentage in every exchange platform that we are going to use. So, if you see that the value is not yet increase, hold it more until it reaches the peak amount of price that you've been waiting for.