Why You Should Never Sell Your Bitcoins Ever

[Lumada]

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 only cash out small parts of the tiny amount I earn per week

I try to keep as much as I am able to. Wish I could have bought more in in the past as Iknew about bitoin very early on.

BTC will be worth a lot more later in a decade or 2 decades. If you are spending all of your coins now, you are going to be upset in 10 years or 20 years.

If we cash out now, we might regret later. That's how btc works. The more we hold it, the more we can appreciate it in the future. There are lot's of ways btc will be able to have a huge increase soon

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[feiss]

But if everyone just holds their BTC and no exchange is used, then it becomes rather useless, does it not? Like the infamous Dutch tulip bubble? Well not exactly like that.. but still. I fail to understand where does the value of the bitcoin come from? Its valuable only because it is scarce? How does that make any sense ?

There is always a movement of bitcoins when you sell and buy it. The reason why can't keep the price up, for its popularity, demand, supply, and ability to grow its price. I don't wonder would Bitcoin still exist after 20 years. I will still continue using Bitcoin.

[btccash24]

I regret that i have sold 14 bitcoins 3 months ago ago, I did some exchanges as well with a huge profit, but that's what i was planning from the beginning . It is better for all traders to use the bitcoin to buy coins when they are falling and then sell for with some $ income.

[winterland]

Bitcoin is one of the fastest growing investment in the market right now and the pace at which Bitcoin is gaining popularity is only making it more and more valuable. Bitcoin has a lot of potential to grow and if you sell, you only loose your potential profit.

Since the amount of people that have adopted bitcoin is so low I think it is a mistake to sell at this point the big adoption is still to come and I do not plan to miss a single dollar of that when people realize the potential of bitcoin.

[Viscore]

Bitcoin is one of the fastest growing investment in the market right now and the pace at which Bitcoin is gaining popularity is only making it more and more valuable. Bitcoin has a lot of potential to grow and if you sell, you only loose your potential profit.

Since the amount of people that have adopted bitcoin is so low I think it is a mistake to sell at this point the big adoption is still to come and I do not plan to miss a single dollar of that when people realize the potential of bitcoin.

It's low because it's too early now and people who adopted this early will surely get great benefits in the future.
By holding bitcoins we can expect that we have a great future because the value will surely grow and when selling this early we loss the opportunity
to grow our investment more, we have to be strong when we plan to hold longer.

[Sled]

Bitcoin is one of the fastest growing investment in the market right now and the pace at which Bitcoin is gaining popularity is only making it more and more valuable. Bitcoin has a lot of potential to grow and if you sell, you only loose your potential profit.

Since the amount of people that have adopted bitcoin is so low I think it is a mistake to sell at this point the big adoption is still to come and I do not plan to miss a single dollar of that when people realize the potential of bitcoin.

It's low because it's too early now and people who adopted this early will surely get great benefits in the future.
By holding bitcoins we can expect that we have a great future because the value will surely grow and when selling this early we loss the opportunity
to grow our investment more, we have to be strong when we plan to hold longer.

We just need to be responsible to our words so we can have a lot of benefits in the future because if we are going to stick with our rules and plans then not selling right now is not a problem because we surely hold it for the future because we all know that we can get more money and profits in the future.

[franco123]

Of course if you will be positive Bitcoin will make you rich in the future. But in reality, when can never say what the future of Bitcoin will be. It might spike up, but it might also fall down. The demand of the people today is rising but it will have a downfall time somewhere in the future. In my opinion, we hold the Bitcoin but still manage it in order to mimize the risk of of loosing our money. There are a lot of ther investments that we can diversify our money on.

[Weawant]

Bitcoin is one of the fastest growing investment in the market right now and the pace at which Bitcoin is gaining popularity is only making it more and more valuable. Bitcoin has a lot of potential to grow and if you sell, you only loose your potential profit.

Since the amount of people that have adopted bitcoin is so low I think it is a mistake to sell at this point the big adoption is still to come and I do not plan to miss a single dollar of that when people realize the potential of bitcoin.

It's low because it's too early now and people who adopted this early will surely get great benefits in the future.
By holding bitcoins we can expect that we have a great future because the value will surely grow and when selling this early we loss the opportunity
to grow our investment more, we have to be strong when we plan to hold longer.

We just need to be responsible to our words so we can have a lot of benefits in the future because if we are going to stick with our rules and plans then not selling right now is not a problem because we surely hold it for the future because we all know that we can get more money and profits in the future.

But the real reality about selling right now is so debatable since there are more people cannot afford to hold their coin much longer since some of them are just short term traders and also I really think that the only holders that can able to hold for so long is those people who have lots of balance in short they are rich since they will not surely need some immediate balance and their funds will intend to hold for that matters.

[Casdinyard]

Bitcoin is one of the fastest growing investment in the market right now and the pace at which Bitcoin is gaining popularity is only making it more and more valuable. Bitcoin has a lot of potential to grow and if you sell, you only loose your potential profit.

Since the amount of people that have adopted bitcoin is so low I think it is a mistake to sell at this point the big adoption is still to come and I do not plan to miss a single dollar of that when people realize the potential of bitcoin.

I think it's not that bad to sell some bitcoin if you're in need some fiat especially when there's an emergency.
And just buy back again if there's some dips again. Truly HODLing is real as  I seen how bitcoin behaves this year and it's more profitable when you hold it for long term. We're all hoping that as days passes by bitcoin price will increase more. Just by touching $5000 really indicates that bitcoin can go that far and nothing's impossible.

[stunvn]

Looked at the weekly chart and I am afraid to hold. That's why I sold.

Bitcoin price has gone too high. If the traders on this market really follow TA indicators, I think they should have a look at weekly chart.

I know that many of you revive the past and predict the future. But, what if it's a black swan?

[fullhdpixel]

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?

Since we are virtually halfway to what everyone would have considered at the time of this post to be a ridiculous notion (that bitcoin would anytime soon be at $10,000 when it was trading below $300), we should have enough of an idea at this point to lay waste to the assertions made in the original post that the only reason Bitcoin would be reaching $10,000 is because the fiat currencies of the world are tumbling due to hyperinflation and everyone is turning to bitcoin to flee the ravishes of the evil central bankers, dear god save us all.

With bitcoin now trading above $4500 in a not completely volatile way, it is not the failure of world currencies that has pushed bitcoin to this price, but pure speculation. The OP also misses the irony of saying that at $10,000, they will never sell for fiat but would rather go on a shopping spree at various merchants, which is the same as converting to fiat anyway. The point isn't whether or not you cash out to fiat specifically, but cash out period to lock in your gains. If you do that with fiat or consumer goods, that's a distinction without a difference; it's the same effect.

If you're sitting on a pile of gain in a speculative asset, there's no reason here (and certainly no reason provided by OP) not to take risk of the table and convert to a more stable currency, which all the major fiats of the world are compared to btc, eve though it trades at $4500.

There is no need to give up on the most precious digital coins when you don’t have any emergency or need money desperately. Keep them in wallets because soon they are going to touch the unbelievable values making the investors new millionaires. Bitcoins are the assets of the future.

[Xester]

Of course if you will be positive Bitcoin will make you rich in the future. But in reality, when can never say what the future of Bitcoin will be. It might spike up, but it might also fall down. The demand of the people today is rising but it will have a downfall time somewhere in the future. In my opinion, we hold the Bitcoin but still manage it in order to mimize the risk of of loosing our money. There are a lot of ther investments that we can diversify our money on.

Yes you are correct.  Bitcoin proce is volatile thus, we cannot be certained if we will have a good fortune of it or not after investing.  There is always a risk and that will not change.  But of course having risk means a great gain. 

But I sell my bitcoin everytime I need it because I am here to earn an additional income.

[KingdomHearts]

The more years will pass, the more accurate this thread will be. Bitcoin will be much more expensive soon. Current adoption is very low (like internet in 199X), it will explode soon (Ether helps a lot though!).

I don't think that this thread is accurate because never selling bitcoins will just a waste of time because you cannot enjoy your profits and benefits if you don't sell your bitcoin. It is better for a person to just not sell his bitcoins for 10 years rather than seeing this thread that says never sell our bitcoin.

He will die with his bitcoins because we can only enjoy our bitcoins when we sell it for a profit, never selling is just wasting the opportunity to make money.
It's true that we can get more income if we hold longer but we should understand that selling requires proper timing and we need to have our specific target on selling.

You are very much right. Never selling your Bitcoins simply means that you are making nothing out of them. Yes this can be one of the possible way that you keep them as long as your desired amount of profit is money is not achieved. But one day you surely need to sell them in order to make your dreams come true.

[nesh1]

OP, have you been around when the Bitcoin price hit $1000 before? There was NO fiat collapse when it happened... The fiat price was unchanged during that period... it was just the Bitcoin price that climbed.

Some blame the Willy Bot... but for whatever reason.. Bitcoin was more valueble than any fiat currency, even gold.

Most of the people in that thread, assume that the situation would repeat itself... Fiat price stay the same, and the Bitcoin price skyrockets. 

Some services do not accept Bitcoin, so for those things, people would convert to fiat... for the rest, people would spend in Bitcoin. 

Because studies say that bitcoin wont go down anymore but only up and you can see that everywhere it went from $100 to $4-5k.

That is very high.

[GlassMaster]

Bitcoin is growing every day more and more, but this does not mean that we should never sell it. We have to hold it until it brings a good profit, this is the whole point of investing.

[matuson]

I am not a supporter of this idea. A lot of people who have bitcoins regularly buy and sell coins. It brings good income. What's the point of having bitcoins? They can't increase in price. We don't even know how long bitcoin will live.

[Bitcotalk]

Of course if you will be positive Bitcoin will make you rich in the future. But in reality, when can never say what the future of Bitcoin will be. It might spike up, but it might also fall down. The demand of the people today is rising but it will have a downfall time somewhere in the future. In my opinion, we hold the Bitcoin but still manage it in order to mimize the risk of of loosing our money. There are a lot of ther investments that we can diversify our money on.

Exactly! I will second you. I think you need to have some mindset like how much profit do you want to earn from your investment in Bitcoins.

I guess only then you’ll be able to decide that this is the right moment for selling. And you can’t keep these Bitcoins forever; you need to make out something out of them.

[BingoDog]

I don't quite agree with this. If you don't ever sell or use your bitcoins than why are you having them, for a souvenir?  Bitcoin was made with a purpose and that is for people to use it. It's good to have some amount of bitcoins as savings but the rest you should use for buying goods, trading but not just to keep them in your wallet.

[d1ceplayer]

Of course if you will be positive Bitcoin will make you rich in the future. But in reality, when can never say what the future of Bitcoin will be. It might spike up, but it might also fall down. The demand of the people today is rising but it will have a downfall time somewhere in the future. In my opinion, we hold the Bitcoin but still manage it in order to mimize the risk of of loosing our money. There are a lot of ther investments that we can diversify our money on.

Yeah one should never sell bit coins ever as bit coins are the most secured and exponentially growing currency. May be you are not getting any profit on them these days but you might be getting larger profits in the coming future when bit coins will be ruling the world, but you have to hold on for the next 10-20 years.

[LeancyBTC]

I don't quite agree with this. If you don't ever sell or use your bitcoins than why are you having them, for a souvenir?  Bitcoin was made with a purpose and that is for people to use it. It's good to have some amount of bitcoins as savings but the rest you should use for buying goods, trading but not just to keep them in your wallet.

Considering bitcoin as an investment and you can hold bitcoin for a long time. He means that you need to hold bitcoin for a long time and does not sell it untill it hit to the moon. Well, sometimes, we need to sell our bitcoin for many purposes but personally, we will suffer a huge loss if we sell our bitcoin