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CROYA86 (OP)
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March 11, 2017, 10:10:16 AM |
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why so many people store their bitcoin in their wallet for a long time, whether the benefits will they get?
Come share your thoughts
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According to NIST and ECRYPT II, the cryptographic algorithms used in
Bitcoin are expected to be strong until at least 2030. (After that, it
will not be too difficult to transition to different algorithms.)
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Cherylstar86
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March 11, 2017, 10:55:16 AM |
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why so many people store their bitcoin in their wallet for a long time, whether the benefits will they get?
Come share your thoughts
These people stored bitcoins in their wallet as a savings for them and when the time bitcoin price will reach higher price in the market, they will sell their holdings so that profit will be earned. In this way of holding bitcoin amount is really a profitable aspects of investments and you will have mo hard times convicing other people to buy products, and you only need is bitcoin balances in your wallet. |
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Alesis
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Activity: 42
Merit: 0
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March 11, 2017, 10:57:03 AM |
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Bitcoin is naturally designed to be a deflationary currency, it's the same as any normal investment in that people buy it in the expectation of the price rising so they hold it until it does (or trade it, if they're clever/brave enough to handle the volatile market).
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machinek20
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March 11, 2017, 11:17:08 AM |
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Of course it got benefit, most of the people store bitcoin as investment and because there are so many scammed investment, it is better just put your coin in your wallet and keep it safe and because bitcoin price is keep on rising so saving it for a long time is going to bring big profit for the holder
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Vyki00
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March 11, 2017, 11:20:26 AM |
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We can not say whether bitcoin will grow or fall, we should consider both scenarios as equally probable and the loss is negligible compared to the possible profit. It would be prudent to invest a small percentage of their savings in bitcoins with the intention of spending them years later. Many of us throw out much more money for unnecessary things. But your investment can be very profitable, you can pay the mortgage in the future or get the money to open your business.
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The_prodigy
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March 11, 2017, 11:24:19 AM |
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why so many people store their bitcoin in their wallet for a long time, whether the benefits will they get?
Come share your thoughts
If i were them i will not stored my bitcoin on web wallet for a long time instead im going to buy and sell them i will make profit if ever since the bitcoin price is unstable where you can earn profit estimated of $200 depends on your patience on waiting for the price decrease and increase. I can't tell all people do this because some of us are storing bitcoin just to saved it like on banks. |
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DoublerHunter
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March 11, 2017, 11:28:05 AM |
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Saving bitcoins is one of the best thing to do with your current bitcoins and there is a lot of good things to be a reason why you should save now. Saving bitcoin for a long time is one of the best option if you buy your bitcoin at a high price like 900-1000$ because you can see in that price chart that long term is still the best option because the price is unpredictable and it can be double or triple the current price now so if you want a good and big profit then long term is the best.
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Red-Apple
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March 11, 2017, 12:01:17 PM |
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why so many people store their bitcoin in their wallet for a long time, whether the benefits will they get?
Come share your thoughts
because there are only 21 million coins (about 16 mil mined so far) and there is 7.5 billion people in the world. with simple math with a very small portion of population adopting bitcoin you can figure out how much bitcoin will be worth in a couple of years (like 5 to 10 years). also looking back you can see bitcoin started from being traded at 10 cents and less and slowly and sometimes rapidly grew to be worth >$1100 today and it has not even slowed down overall! although i should add that just holding is not a good idea. you should spend something and see the benefits of spending bitcoin and i promise you that you will love it. also try services such as Gyft and Purse to get huge discounts and save up on lots of money. |
--signature space for rent; sent PM--
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Kemarit
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March 11, 2017, 12:10:35 PM |
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Saving bitcoin for some is a long time investment. So a lot of people are investing in bitcoin because of a higher probability of maximizing your returns in the future. So let's say that you are slowly buying bitcoin in the last couple of month or even years, then decided that you are going to selling it during the ATH prior to the SEC decision on bitcoin ETF, then you are likely has profited. Then you can start the cycle again by buying low and holding it for a bit then if there is another price run or price rise then sell it again. That's one benefit of holding or saving bitcoin for a long time.
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choppork
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March 11, 2017, 12:13:58 PM |
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why so many people store their bitcoin in their wallet for a long time, whether the benefits will they get?
Come share your thoughts
People don't do anything unless they have an ulterior motive to do so. In the case of holding bitcoins, they surely are getting benefits or will get benefits. Holding bitcoins give you profit for the future because that's how bitcoin was designed. The value increases over time as there are less coins that are being mined as time pass by, there are less and less coins in circulation (thus, increase in volatility) because more people hold their coins, and there's the increase in population. All of these three things are happening day by day so the value of bitcoins is increasing. |
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bravehearth0319
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March 11, 2017, 12:55:56 PM |
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why so many people store their bitcoin in their wallet for a long time, whether the benefits will they get?
Come share your thoughts
If there many people who save and keeping their bitcoins, it is because they believed keeping it will give them a big profit in the future once bitcoin reach the high price value especially this year most community in this industry they are expecting before end of this year bitcoin will become 3000$. |
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icecube45
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Activity: 1218
Merit: 1000
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March 11, 2017, 02:27:00 PM |
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why so many people store their bitcoin in their wallet for a long time, whether the benefits will they get?
Come share your thoughts
Saving bitcoin for a long time is very benefit. Bitcoin prices always go up and if we are long time savings course it will be benefit. For example in 2016 bitcoin prices around $ 600 and in 2017 the price of bitcoin around $ 1,200. If someone buys a bitcoin in 2016 and save for a long time until 2017 get benefit 2x. Saving bitcoin long time is very benefit, but also be patient. |
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Noctis Connor
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March 11, 2017, 02:30:55 PM |
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Bitcoin is a decentralized so expect of jot being stable of its price. But still if you buy stleast a one bitcoin and wait up to 1year you see the difference of the price of it. Aslong as bitcoin is being known by other people theyre being interested to invest money on bitcoin thats the reason were getting a high price of bitcoin
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Labumi
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March 11, 2017, 02:39:55 PM |
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How long have you known the bitcoin..?? . If you still know the bitcoin and use it, then it's a reasonable thing but if otherwise then you are lazy in looking for information or find out about what you are using. think for this fella, because this will not be detrimental. Bitcoin on save because of the beneficial and not detrimental, bitcoin harms someone because they are impatient and not correct in using bitcoin
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mastermold
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March 11, 2017, 02:54:47 PM |
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The main reason for keeping the bitcoin for long time is capital gain. People believe it will cost much more in the future as bitcoin is growing rapidly. And the best part is the amount of bitcoins is constant and can’t be more than 21 million. Thus its value will gradualy grow.
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webtricks
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March 11, 2017, 03:25:49 PM |
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why so many people store their bitcoin in their wallet for a long time, whether the benefits will they get?
Come share your thoughts
If you wanna ask real benefit, ask this question to the Bitcoin holder aka millionaire who is holding Bitcoin since 2009-10!! As the maximum units of Bitcoin is limited thus creating supply to be limited, it is obviius that price increase when more and more people join the Bitcoin market. So, Bitcoin saving in long term is much beneficial!! |
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BrewMaster
Legendary
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Activity: 2114
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There is trouble abrewing
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March 11, 2017, 03:32:19 PM |
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why so many people store their bitcoin in their wallet for a long time, whether the benefits will they get?
Come share your thoughts
i think the majority of people who truly understand the potential of bitcoin invest in it and keep it in their wallets for long term, only those who don't know it yet or are new to bitcoin panic and sell because some random comment on some random place on the internet said so. |
There is a FOMO brewing...
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ethereumhunter
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March 11, 2017, 04:00:35 PM |
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why so many people store their bitcoin in their wallet for a long time, whether the benefits will they get?
Come share your thoughts
the only thing that i know is people store their bitcoin in their wallet to make big profit and waiting for the increase of the price so they can sell it in the price that they want. for saving for a long time, we know that bitcoin price is always change into higher price, people can sell their bitcoin for big profit and this is why they do this. |
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Ayers
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Leading Crypto Sports Betting & Casino Platform
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March 11, 2017, 04:05:16 PM |
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why so many people store their bitcoin in their wallet for a long time, whether the benefits will they get?
Come share your thoughts
the benefit are obvious aren't they? by holding your bitcoin become more valuable, and without doing nothing you could be rich!, what you want more than this? only gold offer this same thing but gold is going anywhere anymore, bitcoin has a very potential to go 10x or 100x in 10 years, i'm all for bitcoin |
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SikatBray
Member
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Activity: 60
Merit: 10
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March 11, 2017, 04:06:42 PM |
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why so many people store their bitcoin in their wallet for a long time, whether the benefits will they get?
Come share your thoughts
the benefit are obvious aren't they? by holding your bitcoin become more valuable, and without doing nothing you could be rich!, what you want more than this? only gold offer this same thing but gold is going anywhere anymore, bitcoin has a very potential to go 10x or 100x in 10 years, i'm all for bitcoin Yeah, Bitcoin has great potential and can emerge as one of the best security with time. |
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