Why You Should Never Sell Your Bitcoins Ever

[mel1978]

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?

For me, I will not sell my bitcoins for now because I have the prediction that its price and value will hit up to the moon. This price today is much more be higher from 2 to 3 years in time. So as long as I have bitcoins I will hold it in my wallet for a long time and wait for the right time to withdraw.

[HalfDeck]

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?

For me, I will not sell my bitcoins for now because I have the prediction that its price and value will hit up to the moon. This price today is much more be higher from 2 to 3 years in time. So as long as I have bitcoins I will hold it in my wallet for a long time and wait for the right time to withdraw.

Moon? What is your "moon" price? $10,000 $100,000 or 1 million dollar I still can call moon price if Bitcoin can reaches these targets haha. You are investing without target, do not let the profitable and the bullish market make you forget the old loss.

[winterland]

The point i think is to selling bitcoin not carelessly to selling it, and each person must have prepared the plan (target) to be able to get the benefits by looking at price developments. Well for me in this thing, of course if we can still get a  chance to get a more profit at another time, it's good it doesn't have to selling it in a hurrying.. because bitcoin price can still continue moving higher.

That's the right thing to do, we have to set a target to sell because that's the only way to make profit by selling high.
Actually we can make profit both on long term and short term hold but it's advisable to focus more on short term if you have a decent capital due to the volatility of bitcoin, the price will dump and pump and we should take advantage on that.

I do not think that right now is the best moment to put a target in terms of price, the price is moving upwards so fast that you could get to your goals in a few months, that is why I prefer to see holding in terms of time, and I’m planing to hold bitcoin for at least ten years.

[raisulmushfeq]

If the people would have known the benefit they would get even from when the OP posted this post, they would kill to get their share of bitcoin haven 
I am hoping for bitcoin to be like a regular cash. So if I can spend my bitcoin like any regular cash anywhere, then there is no need for me to sell it for any other currency. So hodling and spending directly for commodities.
Of course I expect the price to go up much much higher.

[Bit_Happy]

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...

Long-term = Good advice to "never sell".
Short -Medium Time frame = Really not a good idea.  // Some days The BTC market goes over $500 in BOTH directions. I once traded (FTC) during an epic bear market fail, and by "riding the waves" // many short-term trades, I still made a nice profit even though I was on the wrong side of the trend.

Playing "the bounces" with part of your stash will (almost) always return more profits.
Summary: Market "bounces travel" much more than any trend straight up or down.
::"Do the math", or miss out.

[szpalata]

The consideration is the bitcoin graphics that continue to rise, I never panicked when the price drop exactly if the price drop more than 10% makes me eager to buy bitcoin so it does not take long the price back skyrocketed.

I think 10% is a big ratio for Bitcoin when it is raising up in the market.
Unlike altcoins, Bitcoin can not drop down a huge value without any reason.
The Bitcoin community does not stupid all, so if someone try to control the price of Bitcoin unreasonably, its just receive failure.

I agree, there are a lot of people who want to buy bitcoin in low price, so if someone or group sell their bitcoin to get huge profit and makes panic selling happen, it will just gives the opportunity to another people to buy bitcoin in lower price. People need bitcoin, we are getting to become cashless society. Some people now using credit card or paypal but I think bitcoin is the best choice.

  Long term is the best way to go, just save  for as much as you can and as long as you can and don't sell just yet even though there are people who are constantly demanding bitcoin. I think the demand will increase with time  and in the long term and  you stand to make more profit the longer you store them up.

[Questat]

The consideration is the bitcoin graphics that continue to rise, I never panicked when the price drop exactly if the price drop more than 10% makes me eager to buy bitcoin so it does not take long the price back skyrocketed.

I think 10% is a big ratio for Bitcoin when it is raising up in the market.
Unlike altcoins, Bitcoin can not drop down a huge value without any reason.
The Bitcoin community does not stupid all, so if someone try to control the price of Bitcoin unreasonably, its just receive failure.

I agree, there are a lot of people who want to buy bitcoin in low price, so if someone or group sell their bitcoin to get huge profit and makes panic selling happen, it will just gives the opportunity to another people to buy bitcoin in lower price. People need bitcoin, we are getting to become cashless society. Some people now using credit card or paypal but I think bitcoin is the best choice.

  Long term is the best way to go, just save  for as much as you can and as long as you can and don't sell just yet even though there are people who are constantly demanding bitcoin. I think the demand will increase with time  and in the long term and  you stand to make more profit the longer you store them up.

Exactly, we have big dreams so it's just right to be patient and wait until the price will reach our target, we can buy now and set our target at
$100,000 per bitcoin and I think in ten years from now we can see that, or even earlier, bitcoin supply will remain low and demand will continue to increase.

[btcbrother]

You should not sell your Bitcoins, but you should also not avoid spending them because we need to spend them to generate value in the community.

[Hatuferu]

You should not sell your Bitcoins, but you should also not avoid spending them because we need to spend them to generate value in the community.

We don't sell it because we want more value, the price is rising so why would we sell if it can give us more profit when holding.
Bitcoin is the best investment so we need to take this opportunity while the crypto world is still young, we are making noise in the world and soon there will be a massive adoption.

[quarkyplum]

The consideration is the bitcoin graphics that continue to rise, I never panicked when the price drop exactly if the price drop more than 10% makes me eager to buy bitcoin so it does not take long the price back skyrocketed.

I think 10% is a big ratio for Bitcoin when it is raising up in the market.
Unlike altcoins, Bitcoin can not drop down a huge value without any reason.
The Bitcoin community does not stupid all, so if someone try to control the price of Bitcoin unreasonably, its just receive failure.

I agree, there are a lot of people who want to buy bitcoin in low price, so if someone or group sell their bitcoin to get huge profit and makes panic selling happen, it will just gives the opportunity to another people to buy bitcoin in lower price. People need bitcoin, we are getting to become cashless society. Some people now using credit card or paypal but I think bitcoin is the best choice.

  Long term is the best way to go, just save  for as much as you can and as long as you can and don't sell just yet even though there are people who are constantly demanding bitcoin. I think the demand will increase with time  and in the long term and  you stand to make more profit the longer you store them up.

Exactly, we have big dreams so it's just right to be patient and wait until the price will reach our target, we can buy now and set our target at
$100,000 per bitcoin and I think in ten years from now we can see that, or even earlier, bitcoin supply will remain low and demand will continue to increase.

1 target for long term need you can keep patient until your target reached. Important, there are not much people can do that, you have to know many people also have this thought at begin, but after long time, when they have many troubles, they can not keep their calm and sell Bitcoin when its price dumped to low price. So, before you choose Bitcoin to invest for long term, have some backup plans to help you keep safe that amount.

[rainezerr401]

You should not sell your Bitcoins, but you should also not avoid spending them because we need to spend them to generate value in the community.

We don't sell it because we want more value, the price is rising so why would we sell if it can give us more profit when holding.
Bitcoin is the best investment so we need to take this opportunity while the crypto world is still young, we are making noise in the world and soon there will be a massive adoption.

When the price rise up you will be tempted to sell your coins and the right thing to do is hold it longer because the value is still increasing and we just need to wait until it reach the peak value.You can still work on bounty campaigns while waiting so there is no need to rush.

[romero121]

One thing that I focus is the price variation. Today what you spend on a product in terms of bitcoin looks very big within few days or after years. This will surely make the user feel that he could have held the coins in the wallet. That's the reason it's suggested to keep hold of bitcoin's and benefit until there is an emergency requirement.

[lordquanta]

You should not sell your Bitcoins, but you should also not avoid spending them because we need to spend them to generate value in the community.

We don't sell it because we want more value, the price is rising so why would we sell if it can give us more profit when holding.
Bitcoin is the best investment so we need to take this opportunity while the crypto world is still young, we are making noise in the world and soon there will be a massive adoption.

When the price rise up you will be tempted to sell your coins and the right thing to do is hold it longer because the value is still increasing and we just need to wait until it reach the peak value.You can still work on bounty campaigns while waiting so there is no need to rush.

Holding long or as we say HODL real long time is one thing. But never sell the coin is another. if a person is not going to cash out the coins then bitcoin is as good as soil. What is the point in having that investment. It is called as dead investment. Suppose a person has 100 bitcoins purchased at 100 USD rate, few years earlier. Person is a middleclass living. Now Today estimated valuation of bitcoin is somewhere around 37 Million. If person still living in his middleclass life, like kids not getting upgraded educational opportunities. Then what is the point of having those coins. When we invest we have certain goals from the profit perspective. Never cashing out is nothing but greed.
With bitcoin we have opportunity to sell small amounts as per our requirement. HODLing long is great strategy just dont take it to extreme.

[justspare]

You should not sell your Bitcoins, but you should also not avoid spending them because we need to spend them to generate value in the community.

We don't sell it because we want more value, the price is rising so why would we sell if it can give us more profit when holding.
Bitcoin is the best investment so we need to take this opportunity while the crypto world is still young, we are making noise in the world and soon there will be a massive adoption.

When the price rise up you will be tempted to sell your coins and the right thing to do is hold it longer because the value is still increasing and we just need to wait until it reach the peak value.You can still work on bounty campaigns while waiting so there is no need to rush.

Holding long or as we say HODL real long time is one thing. But never sell the coin is another. if a person is not going to cash out the coins then bitcoin is as good as soil. What is the point in having that investment. It is called as dead investment. Suppose a person has 100 bitcoins purchased at 100 USD rate, few years earlier. Person is a middleclass living. Now Today estimated valuation of bitcoin is somewhere around 37 Million. If person still living in his middleclass life, like kids not getting upgraded educational opportunities. Then what is the point of having those coins. When we invest we have certain goals from the profit perspective. Never cashing out is nothing but greed.
With bitcoin we have opportunity to sell small amounts as per our requirement. HODLing long is great strategy just dont take it to extreme.

I must say this will be only for bitcoins. If you are talking about all the crypto then you don’t have to wait long because they don’t have that much value and market. But for the bitcoins, you are lucky to have a fantastic market price that is just going up with little dips. Be confident on your bitcoin, and hold more as this will yield you more than your expectations. Good luck!

[winterland]

Basically because it keeps growing and growing like now it is at $5000 and also it is very difficult to earn but i think there should be a time when u sell it you should not never sell it because why did you have it then if you were not planning on selling it?

At some point we will need to sell in order to obtain profits it is impossible to hold forever the only scenario in which we will be able to hold forever is the scenario in which bitcoin becomes so accepted through the world that you can buy everything you want with bitcoin.

[Tukang Becak]

Because bitcoin prices continue to rise, for example this year bitcoin prices rose by more than 500%, many opinions predicting bitcoin prices next year will reach at least $ 10,000 so better hold and hope to get more profit than sell now.

[ucok_aball]

Because bitcoin prices continue to rise, for example this year bitcoin prices rose by more than 500%, many opinions predicting bitcoin prices next year will reach at least $ 10,000 so better hold and hope to get more profit than sell now.

waw, $ 10,000 is certainly not a little money but seeing the development of bitcoin like that of course can assume that next year will reach $ 10000

[Vaculin]

Because bitcoin prices continue to rise, for example this year bitcoin prices rose by more than 500%, many opinions predicting bitcoin prices next year will reach at least $ 10,000 so better hold and hope to get more profit than sell now.

waw, $ 10,000 is certainly not a little money but seeing the development of bitcoin like that of course can assume that next year will reach $ 10000

You're right.Since bitcoin has its good increasing value nowadays,i am very optimistic that by next year bitcoin price will hopefully reach $10000 or even higher than that.We just have to buy bitcoin and keep holding it,for sure it will give us huge profit in the end.Selling them i think is not really a good idea.

[Choii]

When the price rise up you will be tempted to sell your coins and the right thing to do is hold it longer because the value is still increasing and we just need to wait until it reach the peak value.You can still work on bounty campaigns while waiting so there is no need to rush.

Yes i agree with you, the right thing to do is hold for a long term goal ( for example 5 years from now even 10 years from now ) because the value of bitcoin is still increasing, like you said that's why we need to wait. And yes that's a good idea while waiting for the value, much better to participate any bounty campaign to get more salary.

[richmcrich]

You should not sell your Bitcoins, but you should also not avoid spending them because we need to spend them to generate value in the community.

We don't sell it because we want more value, the price is rising so why would we sell if it can give us more profit when holding.
Bitcoin is the best investment so we need to take this opportunity while the crypto world is still young, we are making noise in the world and soon there will be a massive adoption.

When the price rise up you will be tempted to sell your coins and the right thing to do is hold it longer because the value is still increasing and we just need to wait until it reach the peak value.You can still work on bounty campaigns while waiting so there is no need to rush.

Holding long or as we say HODL real long time is one thing. But never sell the coin is another. if a person is not going to cash out the coins then bitcoin is as good as soil. What is the point in having that investment. It is called as dead investment. Suppose a person has 100 bitcoins purchased at 100 USD rate, few years earlier. Person is a middleclass living. Now Today estimated valuation of bitcoin is somewhere around 37 Million. If person still living in his middleclass life, like kids not getting upgraded educational opportunities. Then what is the point of having those coins. When we invest we have certain goals from the profit perspective. Never cashing out is nothing but greed.
With bitcoin we have opportunity to sell small amounts as per our requirement. HODLing long is great strategy just dont take it to extreme.

I must say this will be only for bitcoins. If you are talking about all the crypto then you don’t have to wait long because they don’t have that much value and market. But for the bitcoins, you are lucky to have a fantastic market price that is just going up with little dips. Be confident on your bitcoin, and hold more as this will yield you more than your expectations. Good luck!

In the world of bitcoin, if you want to become rich and you want to play a safe game, then the best way to do so is to invest in bitcoin and that too for quite a long period of time. Holding of bitcoin or investing in bitcoin for long period of time actually means that you are going to have more money in your account with each passing day. You only need to remain cool and calm and that’s it.