why you shouldn't trade Bitcoin

[aakashsangwan]

And when all the coins will be mined in the future then no more new coins will come to life.
So it's value will keep on increasing.

[acquafredda]

I trade BTC only to buy them.
I don't want to use them for trading again. Too much time to study a market that then it reveals itself always crazy.

Better hold and keep them safe: that is already the biggest challenge around!

[TinEye]

what if i'm a part of a group of whales or i'm very rich that i can manipulate the price? i think that it will be wise to do some trade in this case, in any other case i agree that is better to hold and forget, maybe buying when the price is settled for a long time like in this moiment

there is also the possibility to do trading with something else with bitcoin, like altcoin and forex, altcoin are very easdy to manipulate, big amount isn't necessary and forex does not suffer from big spread

[gentlemand]

what if i'm a part of a group of whales or i'm very rich that i can manipulate the price?

Definitely a tempting idea, however there's always a bigger whale out there lurking in the depths.

[jonald_fyookball]

what if i'm a part of a group of whales or i'm very rich that i can manipulate the price? i think that it will be wise to do some trade in this case, in any other case i agree that is better to hold and forget, maybe buying when the price is settled for a long time like in this moiment

there is also the possibility to do trading with something else with bitcoin, like altcoin and forex, altcoin are very easdy to manipulate, big amount isn't necessary and forex does not suffer from big spread

altcoins are an even thiner market than bitcoin and so the problems I mentioned would be magnified.

[Mickeyb]

As one of my friends non traders said, you are better off gambling. At least in gambling you have the odds before you make a move. In trading you know absolutely nothing!

[jammyjimbo]

I agree with most comments, trading can be profitable if you have the right data, know how to use it and are committed. If like most you are not, buy and hold is a safer and more profitable strategy. Just like every tradable investment!

SPEND BITCOIN !!!

But the absolutely key thing is that for bitcoin to really take off, we need to spend it!

I am guilty of wanting horde myself, but if we don't spend it then retailers stop accepting it, eco-system companies go under, investment dries up and bitcoin basically doesn't take off. It becomes gold for IT geeks without the inflationary, historical or physical 'doomsday' value. I'm all for gold investment, but bitcoins value doesn't lie here. Investing in bitcoin is gambling on greater adoption and anyone who wants it to go up in value needs to encourage the adoption.

BTC is still a little volatile, but getting better, so what I do is have one investment account and one spending account. I only use BTC to buy something when I can replenish that bitcoin at a fair price compared to the FIAT cost of the goods I'm buying. You buy the bitcoin and spend it quickly to minimise the currency risk.

[Jace]

What jammyjimbo says.

Please let me copy an earlier reply to a similar statement:

(some people advocating hodling, as if that were to help Bitcoin grow)

No, no, NO! As a strong bullish long-term Bitcoin believer, I completely disagree  

Even if you consider your bitcoins as long term investment, rather than spending money - what do you think will help raising the value of your precious bitcoins more:

• 1. Hodling your bitcoins and spending USD, thus only stimulating the USD economy
  
  or
  
  

• 2. Spending your bitcoins, thus stimulating the BTC economy, and immediately buying back new bitcoins (on exchange or circle or whatever), thus increasing demand for Bitcoin on the market.

Notice that the end result is the same: you essentially purchased some stuff, lost some USD, and kept your BTC. But with option nr. 2, you're actively helping to raise the Bitcoin price level on two ends: Bitcoin economy AND market demand. I really don't understand why even the most fanatic Bitcoin owners don't seem to get this

Especially if you're a Bitcoin fan, believer, enthusiast, investor, or hodler, SPEND THEM! (And immediately refill your stash of bitcoins by buying new ones with fiat)

By just sitting on your coins, instead of using them, Bitcoin won't grow! Spend them, and buy back at the same time.

[gentlemand]

By just sitting on your coins, instead of using them, Bitcoin won't grow! Spend them, and buy back at the same time.

Agreed but it depends on where you are.

I'm in the UK. It's seriously hard work finding anywhere to spend them here. On top of that there aren't any UK exchanges and although Coinbase is here it requires bank wires to the EU which takes days and costs. The instant buying services there are can often have a 10% premium. I spend where I can but it's not practical at the moment.

[cogabonito]

Trading bitcoin is important I guess.
Because we decide the products price in USD/EUR etc, then we trade them for bitcoins. It's important to have bitcoin/fiat exchanges. Otherwise how are gonna valuate bitcoins?

[Jace]

Trading bitcoin is important I guess.
Because we decide the products price in USD/EUR etc, then we trade them for bitcoins. It's important to have bitcoin/fiat exchanges. Otherwise how are gonna valuate bitcoins?

Well, one thing I know is if people stop selling (dumping) their bitcoins, the price at which we value them is most certainly going up.

[randy8777]

Trading bitcoin is important I guess.
Because we decide the products price in USD/EUR etc, then we trade them for bitcoins. It's important to have bitcoin/fiat exchanges. Otherwise how are gonna valuate bitcoins?

Well, one thing I know is if people stop selling (dumping) their bitcoins, the price at which we value them is most certainly going up.

most certainly? of course the price will go up once every person stops selling. people then will place higher buy orders hoping some one is willing to sell.

[Kprawn]

Hoarding is sooo boring though.. I do not feel part of the action, when I am not doing something with some of my coins. Take the leap and trade a small percentage of your coins. {Say 20%}

A friend of mine, bought some bitcoins, to experiment and "play" as he put it. He started with 1 BTC and traded his way up to 8.4 BTC within a year. The highest interest he could get from banks for that amount

was +/- 6% for that same period. Trading BTC is becoming an obsession with him now, and I constantly warn him to keep a little back, from the profits he makes as a trader.   

[koelen3]

I don't agree!
You can hold it if you got good money else it's useless.
Not everyone can afford keeping 1000's of $$ invested and we never now if it will even go up or maybe down.

[Kazimir]

Hoarding is sooo boring though.. I do not feel part of the action, when I am not doing something with some of my coins. Take the leap and trade a small percentage of your coins. {Say 20%}

A friend of mine, bought some bitcoins, to experiment and "play" as he put it. He started with 1 BTC and traded his way up to 8.4 BTC within a year. The highest interest he could get from banks for that amount

was +/- 6% for that same period. Trading BTC is becoming an obsession with him now, and I constantly warn him to keep a little back, from the profits he makes as a trader.   

You can't possible compare trading revenues with bank account interest. Interest is what you receive passively, without doing jack shit. Trading however is work, and making profit requires investing lots and LOTS of time. As your obsessed friend can probably confirm

Here's a better comparison: what if he took a job or started freelancing, and received a reasonable hour rate for whatever his skill or profession is, and worked all the hours he invested in trading bitcoins that year. Do you think he would have made more than 8.4 BTC?

[1Referee]

I am successfully trading for nearly 2 years now and managed to increase my Bitcoin holdings quite a bit. If I didn't do any trading I would have about 80-90% less coins in my cold wallets.

[Daniel91]

OK, I agree with original suggestion in this thread, that is to risky to trade with BTC but I don't think that many BTC users have problem with it.
I think that most people here just collecting BTC with hope to sell it later for much better price and make good profit from it
Of course, this will not happen overnight and some users will probably lose patience and spend their bitcoins or cash out through exchangers.
For me this is a long-term game and right now I'm collecting some bitcoins for free, usually through signature campaigns, and keeping them in my wallet, with hope to earn very good profit from it later.
At least I didn't invest my own money here so I can relax and wait as long as necessary
I don't want to risk and loose my bitcoin through some risky trades but this is my thinking.

 

[Beliathon]

SPEND BITCOIN !!!

Ignore this noob. Hold your coins, spending is a tactical mistake in this game.

[afriezalie]

I can say that i'm agree and disagree. There is no a safe way to prevent any losing in bitcoin. If i trade today, maybe tomorrow i'll suffer great lose, but if i hold my bitcoin in my cold storage, when bitcoin price go down and never go up again, i will suffer great lose too .

[LiteCoinGuy]

What jammyjimbo says.

Please let me copy an earlier reply to a similar statement:

(some people advocating hodling, as if that were to help Bitcoin grow)

No, no, NO! As a strong bullish long-term Bitcoin believer, I completely disagree  

Even if you consider your bitcoins as long term investment, rather than spending money - what do you think will help raising the value of your precious bitcoins more:

• 1. Hodling your bitcoins and spending USD, thus only stimulating the USD economy
  
  or
  
  

• 2. Spending your bitcoins, thus stimulating the BTC economy, and immediately buying back new bitcoins (on exchange or circle or whatever), thus increasing demand for Bitcoin on the market.

Notice that the end result is the same: you essentially purchased some stuff, lost some USD, and kept your BTC. But with option nr. 2, you're actively helping to raise the Bitcoin price level on two ends: Bitcoin economy AND market demand. I really don't understand why even the most fanatic Bitcoin owners don't seem to get this

Especially if you're a Bitcoin fan, believer, enthusiast, investor, or hodler, SPEND THEM! (And immediately refill your stash of bitcoins by buying new ones with fiat)

By just sitting on your coins, instead of using them, Bitcoin won't grow! Spend them, and buy back at the same time.

Amen man, you get it. When you use BTC , you also help your investment at the same time. Isnt that cool  ?