Why You Should Never Sell Your Bitcoins Ever

[mstfprcn]

Never selling Bitcoin is not that best way to make money but the save some money only and that is the only thing that you are not selling, with selling you can earn money with it.And that is quite good if the value is high and that you can get some huge profit with it, but that will takes a long time for it.

[Leonia-Ridinger]

So far I've mostly been dealing with alts to get bigger profits (worked well, but not THAT well), so my plan is to buy 1 BTC by summer, and just hold it forever. If the price per BTC ever surges to $1M, I want to have that 1 BTC. Which means that I plan to use BTC as a store of value. But if in few years time bitcoin becomes to widespread that you can buy anything with it + the price is at least $100K, I'll definitely use it to buy some stuff. And for alts I'm also planning to hold some coins for years, the ones I see potential in.

[SkustaClee]

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?

The reason why it is good to do long term investment with bitcoins is because the value of the bitcoin is becoming more stronger than before. The key to become successful person is by holding our bitcoins in a long time.

[julzcoinbit]

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?

The reason why it is good to do long term investment with bitcoins is because the value of the bitcoin is becoming more stronger than before. The key to become successful person is by holding our bitcoins in a long time.

Yes! The more time to wait the more profits to get, that's the reality of making investment in bitcoin. And many already witness of it and I'm one of them, if bitcoin not comes in my life perhaps I'm still struggling the poverty.

[davida]

Your point of argument make sense, but at the same time, it can be reason from another angle. If what you needed at that point in time is something that can not be gotten with Bitcoin, you got no option other than change it for fiat. If the second party involved does not believe in Bitcoin, or does not believe in it neither is he knowledgeable in Bitcoin, it proves difficult, and many more like that. But the most accurate idea is to hold our Bitcoin as long as possible for its futuristic benefits.

[Focus Focus]

You are correct. Everytime I offer my Bitcoin, the value has a tendency to go higher Mushy However in the event that I get them the value drops...So I dont truly realize what is the best activity. At the present time, I would presumably offer them at $500, on the grounds that I trust the cost will drop after christmas.

[MrZ28s]

Perhaps it will work if you have lots of money available even on emergencies. Long term Bitcoin still looks very promising and worth a hold. But I won't hesitate selling some of it on important stuffs.

[Pinoyfan]

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?

Sell it when the value goes up dont take the risk to hold it fo a years o months just do trasing to get more profit because bicoin is risky no one knows when it will collapse so my advise is dont hol it for a long time go for short trading.

[jakoylantern]

For me, why you should never sell your bitcoin ever, it’s because of the increase or decreases the price of it. We all know that bitcoin’s amount is fluctuating too much that it will be complicated to predict its amount. Maybe the second reason is the bitcoin’s limitation, bitcoin is limited in 21 million, and mines already generated almost of 80-85% of its total volume so in the future maybe bitcoin become a very expensive and rare cryptocurrency.   

[Alex Storm]

You should never do this because the fact is that the bitcoin has a good future a head these days and the halving is worth the time for me.
Holding is at this time much better than selling.

[ASICHEAD]

For me, why you should never sell your bitcoin ever, it’s because of the increase or decreases the price of it. We all know that bitcoin’s amount is fluctuating too much that it will be complicated to predict its amount. Maybe the second reason is the bitcoin’s limitation, bitcoin is limited in 21 million, and mines already generated almost of 80-85% of its total volume so in the future maybe bitcoin become a very expensive and rare cryptocurrency.  

First of all, the nature of cryptocurrency like Bitcoin and a rare asset like Gold are different. Many people thought the limited supply of Bitcoin is the primary reason make the price of Bitcoin increase. However, it is just a "reason" for new investor want to invest money into this field.

[EnricoGomez]

You should never sell your bitcoin for future use or price increase. You should never sell you bitcoin if you only buy the earnings on what you want but you should invest or save it future your future family needs. You should wait for the price to increase but if you are really in need of money just sell some and save the rest of your bitcoin

[geegaw]

For me, why you should never sell your bitcoin ever, it’s because of the increase or decreases the price of it. We all know that bitcoin’s amount is fluctuating too much that it will be complicated to predict its amount. Maybe the second reason is the bitcoin’s limitation, bitcoin is limited in 21 million, and mines already generated almost of 80-85% of its total volume so in the future maybe bitcoin become a very expensive and rare cryptocurrency.  

First of all, the nature of cryptocurrency like Bitcoin and a rare asset like Gold are different. Many people thought the limited supply of Bitcoin is the primary reason make the price of Bitcoin increase. However, it is just a "reason" for new investor want to invest money into this field.

In short, most of us think that bitcoin will be able to reach a price that is very high in the future when the number of bitcoin becomes scarce, so in the near future, we should never sell bitcoin because that may cause us to miss a lot of profit. However, because of this thought, we can fall into bad situations, if the price of Bitcoin does not increase and even decrease, we will waste time to wait and do not receive benefits from Bitcoin, so, I think we should choose the highest selling price possible in the near future, should not wait for a long time, it is too risky

[Akupuniard]

When you have money to live without selling bitcoins you are very rich. Sometimes you need to buy something big and the best thing is to sell bitcoins.

[Coleth]

I do not agree with not selling ever, because when you are in traiding selling is a must specially when you think that its value has doubled and more than your investment. Though it is always good to have bitcoin with you for you do not know what the future instored for you.

[Freddie Aguiluz]

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

But not all things can be bought by bitcoin. Here in our country, bitcoin is still new to us, only few people knows about it, only few trust it, and the worst part of it, most of the people who hear about bitcoin thinks that it is a scam, although there are really a lot of scam here using bitcoin.

[BitcoinNational]

There's no absolute rules for the bitcoin. What's the point to have bitcoin ad vitam aeternam without selling them. Bitcoin is a way to earn money, if you decide that compare to the price you buy, it's the good moment, well why not.

[Biasaae]

Indeed, Bitcoin is an investment for long term. The profits in short time just make you forget the profits in long-term of Bitcoin. Forget your Bitcoin amount and make more money to have funds buy Bitcoin. This is my choice to invest in this currency.

I also will not be tempted by high Bitcoin prices in the short term. Because Bitcoin deserves to be maintained for years. If you patiently endure Bitcoin, in the long run, I'm sure you'll get a profit that you never expected before.

[reboot24]

Sell just a portion of it if theirs a emergency situation, never sell it because its price is fluctuating to high and never regret at end.

[dreico]

I think for the reason that its value will grow in the future, because all it gets for long-term investments