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Chienna
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October 06, 2017, 04:43:51 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
I think they store in their wallet because sometimes the rate of bitcoin is rosong so they took the oppurtunity to make their money bigger. Also, they store for saving, instead they convert it in their local currency its better to store to sace more. Also, it helps in case of emergencies. |
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BZache
Newbie
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Activity: 2
Merit: 0
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October 06, 2017, 04:53:17 AM |
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yes, it's good that we have bitcoin hiding but for ordinary person would rather use it especially when the value is higher than the price they bought.
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drachman
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October 06, 2017, 11:40:28 PM |
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I think if we save Bitcoin for a long time there is a chance of its fluctuated nature. So if we invest bitcoin instead of saving this will good. If we are risk taking personality we should save it for a long time in wallets. There are so many reasons to save it for a long time if we have huge amount of bitcoin and its price goes up there is a chances of growth in profits.
We cannot avoid bitcoin volatility but the longer we hold the better for us, do you think that somebody that invested in bitcoin when the price was 500 dollars cares that bitcoin goes back to 2500 of course not he is still in profits and may even take the opportunity to buy even more bitcoin. |
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lazaruseffect11
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October 06, 2017, 11:47:06 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
Those people who store their bitcoin in their wallet are those people who wait for the price of the bitcoin to go higher. They buy a lot of bitcoin and just wait for the perfect moment to sell it and thats how they gain their profit. But before doing that king of thing, you should be knowledgable enough and also knows how to monitor the price of bitcoin since it has an unstable price. |
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nizamcc
Legendary
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Activity: 1218
Merit: 1007
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October 06, 2017, 11:53:14 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
Bitcoin was introduced as a store of value and according to me, value was meant for its real-time valuation whether fiat or something else. I know few persons who bought bitcoins when it was not even a buck and they are still not selling it just because they have higher targets, even more than Satoshi Nakamoto's dream. Holding is good because businesses and such asset class are run this way. Think what would it be if those super-strong hands would have sold to few dumb profit-making machines, bitcoin would never have reached out to 5k that way. |
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lenovo16
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October 07, 2017, 12:23:40 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
I think the reason behind it is they are waiting for the right when should they exchange it to fiat. Maybe they are waiting to move up the value of BTC. Because in that case them bitcoin that they are holding can earn a big profit. And since the bitcoin is already boom in the digital currency many user are choose to hold their bitcoin. |
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bestluck
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October 07, 2017, 11:20:07 PM |
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yes, it's good that we have bitcoin hiding but for ordinary person would rather use it especially when the value is higher than the price they bought.
I believe it all depends on the skill set and planning of the person. For me, saving the bitcoins for a long is far more beneficial than any other thing especially for the one who is not good at trading. We all know this thing very well that the market price of bitcoin will keep on increasing in the coming days. So, holding bitcoins actually mean that you are going to have more profit at the end. |
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kendra1107
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October 07, 2017, 11:27:11 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
For savings I would say. Bitcoin today has the reputation of continuously climbing the charts. So naturally someone who has bitcoins would tend to hold on to them until the full potential has been reached. |
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pieppiep
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October 07, 2017, 11:30:24 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
For savings I would say. Bitcoin today has the reputation of continuously climbing the charts. So naturally someone who has bitcoins would tend to hold on to them until the full potential has been reached. To be honest no one knows what is the full potential of bitcoins as may be tomorrow we see price of $5k and in next few months it can climb even to $10k and so on as no one knows which is the highest price of bitcoins and people will sell their coins when they are making huge profits from it and buy it back when price drops and I think that is the best way to play with your coins. |
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ibrohim
Member
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Activity: 81
Merit: 10
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October 07, 2017, 11:45:38 PM |
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many people choose to save their bitcoin until they find the right time to sell it. they are waiting for the higher price of bitcoin in the market to get the profit. and I think it is good choice if they don't need to sell it too much.
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Mikasa77
Member
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Activity: 140
Merit: 10
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October 07, 2017, 11:50:59 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
Many people store their bitcoin in their wallet because theyre waiting for the bitcoin price to grow higher and thats the time they will sell all of their bitcoin and gain their profit. Thats what many other people do why their store their bitcoin their wallets. They must also know how to manitor the price of bitcoin so that they will know if the price goes down or goes up. |
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malika
Member
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Activity: 73
Merit: 10
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October 08, 2017, 03:01:59 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
They are the so cold investors in which the store bitcoins or other currencies for a long period of time. Yes they will benefit from it because bitcoin has a positive outcome in the market and it continues to grow and lots of investors are investing bitcoins thats why it keeps on growing and the value becomes even more higher. |
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mware
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October 08, 2017, 03:38:22 AM |
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saving bitcoin in a long time can provide an advantage because bitcoin prices increase over time no doubt to put big amount of money. but this has a big risk
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palensya
Member
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Activity: 87
Merit: 10
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October 08, 2017, 04:01:57 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
Many people store bitcoin in their wallet for a long time because they know that it will benefit them in the future their investments might triple or more than that. Bitcoin has a very good reputation in the market and as of this time it still grow and grow. If i were a holder as well i will hold it. |
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hachiman13
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October 08, 2017, 04:26:29 AM |
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The most logical thing to do is to save/hodl it for a long time since bitcoin is deflationary and will increase in price in due time but it is probably a case by case situation. Say, a person might cash out his coins if he really needed the money or spend it on gambling sites or just needed the money to start another business.
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paul00
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October 08, 2017, 06:45:44 AM |
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Bitcoin users tend to store the coins in their wallet because they are waiting for the value of bitcoin to increase. Thru this, the users were able to earn profit from a small investment that they have. You can compare it on the usual staff trading in stock market where stock holders monitors their account in case of inflation on the value of stock market.
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entrepmind23
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October 08, 2017, 06:58:31 AM |
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The most logical thing to do is to save/hodl it for a long time since bitcoin is deflationary and will increase in price in due time but it is probably a case by case situation. Say, a person might cash out his coins if he really needed the money or spend it on gambling sites or just needed the money to start another business.
If you compare saving your money in banks and saving it in bitcoin then there is a huge difference. Savings in bitcoin can have a nice return especially if you save it for the long time because you may already have multiply your money many times whereas when you save your money in bank then your money would have lesser value because of inflation and tax as well that is charge against your interest. I consider saving bitcoin as long as it is profitable because there are so many people who are positive about the price going up and because it is not yet in mass adoption, there is still a room for it to increase much higher because also of the limited supply and strong demand. There are times when I need to cash out because of some unavoidable expenses but most of the time I would just save my bitcoin earnings as investment for it to grow in value and still accumulating as much as I can because there is still a lot of opportunities especially in this forum with signature and bounty campaigns. |
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dynospytan
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October 08, 2017, 06:59:48 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
The reason why people are storing bitcoin for a long time is because they believes that the value of bitcoin will increase. In 2014 the price of bitcoin was cheap and if you started storing bitcoin on that time until now you will have a huge profit. |
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ged00u
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October 08, 2017, 07:08:07 PM |
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since bitcoin is dominating the crytpo market and signs show that it will continue to rule the cryptocurrency for the next 10 years, holding bitcoin will give you a good amount of money after a long period because the price of bitcoin always goes up. If you think that holding bitcoin can not give us anything, you are wrong. Many people have become rich thanks to bitcoin
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Strught85
Member
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Activity: 84
Merit: 10
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October 09, 2017, 04:52:30 PM |
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Prior to when i was starting up in this BTC neighborhood, my colleagues instructed me to conserve some BTC and I didn't recognize what for. I'm just conserving it for no explanation simply because i never obviously realize what is the purpose of it, and then out of the blue i started out to realize little by tiny that i received rewards from saving as properly.
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